MBA Report: 1 in 7 Homeowners Past Due or in Foreclosure One in seven homeowners is past due on their mortgage or in foreclosure, according to the Mortgage Bankers Association’s latest report on home loan delinquencies. The report shows that mortgage delinquencies rose during the second quarter, and overall, one in seven borrowers is delinquent [...]
First Time Homebuyer Tax Credit May Return Shaun Donovan, Secretary of Housing and Urban Development, said Sunday that the housing market’s July woes were “worse than expected” and that the administration may support a new homebuyer tax credit. In an interview on CNN, Donovan said the administration is “concerned” about the path of the industry. [...]
The Federal Housing Administration (FHA) announced it is pushing back the implementation date for new premium structures on FHA-insured mortgages to Oct. 4 from the original date of Sept. 7. Following FHA Commissioner David Stevens’ recent announcement that up-front premiums for FHA-insured mortgages would be reduced beginning Sept. 7 from 2.25 percent to 1 percent, [...]
For Sale: Palm Springs Andreas Hills Area Offered below market at $299,900 3576 E. Bogert Trail, Palm Springs, Andreas Hills Area Bed/Bath: 2 br, 2.00 ba Property Type: Condo Square Footage: 2061 square feet Property Subtype: Condo Attached Asking: $299,900 Cross Street: S. Palm Canyon Dr. & Bogert Trail MLS: #21406138 Map: click here to view [...]
You wouldn’t buy a house without shopping around first, right? Then why would you commit to the loan you use to buy that house without making sure you’re getting the best deal possible? Here are six reasons why it’s essential to take a few minutes to browse before you borrow: 1. To get the best [...]
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Average Home Prices Slip in Coachella Valley
I’ve been reading a lot of information lately about our current market conditions from other REALTORS® who are claiming an increase is sales price and number of homes sold. I would scratch my head and ask where they were getting their numbers. Turns out their numbers are coming from national statistics. Real estate sales are [...]
Mortgage Debt Tax Relief Program Ending Soon
The Mortgage Debt Relief Act of 2007 the IRS would not come after you for your taxable amount if you had an upside-down unpaid principle as a result of loan modification, short sale or foreclosure depending on your tax bracket, let’s say you were $100,000 short on your mortgage you could be responsible for as [...]
Is your REALTOR® connected? No, I don’t mean in the MobWives fashion, if that’s what you thought, you’re watching too much reality TV. As an active Palm Springs REALTOR® I believe it’s important to take advantage of the technology available to today’s real estate professional. Everything that required an agent to go back to the [...]
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