Rhode Island Supreme Court gives HOAs priority above mortgage liens

Rhode Island Supreme Court gives HOAs priority above mortgage liens Condominium association liens now hold “super-priority” February 19, 2016 Cynthia Barraza The Supreme Court of Rhode Island supports the homeowner’s association “super priority” concept, making The Ocean State part of a growing list of states that are, in some fashion, ruling in favor of making … More Rhode Island Supreme Court gives HOAs priority above mortgage liens

New York launches undercover program to expose discrimination in real estate

Will use ‘testers’ to verify compliance with fair housing laws February 15, 2016 Ben Lane The state of New York is set to launch a new program that will use undercover “testers” posing as prospective homebuyers or renters to “root out” housing discrimination in the state, New York Governor Andrew Cuomo announced over the weekend. … More New York launches undercover program to expose discrimination in real estate

The TRID ripples: Time to close mortgage loans continues to rise

February 17, 2016 Ben Lane In the months since the implementation of the Consumer Financial Protection Bureau’s TILA-RESPA Integrated Disclosures rule last October, repeated evidence shows the impact of TRID, whether the reports were anecdotal or statistical.Now, a new report from Ellie Mae shows more statistical evidence on how deeply the impact of TRID is being … More The TRID ripples: Time to close mortgage loans continues to rise

Debt Relief

Congress has voted to extend the Mortgage Forgiveness Debt Act to 2017.  Originally passed in 2007, the act protects underwater homeowners from incurring tax bills on the debt forgiven during a short sale. **** This provides a tax exemption for homeowners for “income” resulting from debt forgiveness related to foreclosures, short sales and principal foregiveness … More Debt Relief

Home Prices Increasing

As a whole in the United States, home prices are increasing, up 0.8% in December 2015 compared to November 2015. Markets like Denver and Naples have had huge appreciation, while New Orleans and Rochester have decreased. Home prices were expected to increase 0.2% from December 2015 to January 2016. The actual number is to be determined. … More Home Prices Increasing