I am amazed at the number of first time buyers who are shocked that they may have to pay the 7500.00 “homebuyer credit” back. FYI – The “first-time home buyer credit” is a temporary refundable, repayable tax credit equal to 10% of the purchase price of a home, up to $7,500 for singles and married … More Home buyer tax credit must be paid back
So the financial institutions are being investigated because of questionable practices regarding their foreclosure paperwork. Rumor has it there are erroneously initiated foreclosure processes, based on improperly reviewed or “falsified” documents. This has led to the moratorium on foreclosure filings…the foreclosure freeze. The foreclosure freeze means there is a decline in inventory while the files … More Foreclosure Filing Freeze: Financial Institutions Investigated!
After missing several mortgage payments – sometimes as little as 3 but often as many as 7 – the bank will file a foreclosure proceeding and a Lis pendens notice (LPN) will be served. Many people panic and think they will be tossed from their homes immediately. Not true. Don’t panic. The average foreclosure proceeding … More Do I have to move out – I’ve been served with a Lis pendens
I received an interesting call today. A woman is short selling her $139,000 real estate for $30,000. She asked how the bank winterized her property without her knowledge. The water is shut off; locks on the door. I did inform her that it is possible the bank obtained the power from the adverse possession law … More Bank Overreaching: Water Shut Off Without Homeowner’s Knowledge!?
Welcome to our blog! Keep us in mind as we will attempt to provide much valuable information with regards to the Real Estate Market!! Short Sales REO Foreclosure Regular Sale and Purchasing of properties Real Estate Scenarios Real Estate Q & A You name it, we will be discussing it and provide information about it. … More Welcome!