Here’s an article from ExclusiveReal that raises some legitimate questions about the discounts offered on foreclosures, mainly that over 60% of foreclosures on the market today are not in “financable” condition. Those homes must typically be purchased with either cash or a line of credit from a bank. Article from ExclusiveReal.com
Archive of posts tagged Exclusivereal.com
Claiming Homebuyer Tax Credit May Increase the Risk of an IRS Audit
According to National Taxpayer Advocate Nina Olsen, about one in five of IRS examinations done over the last six months were for people who claimed the homebuyer tax credit. So it’s possible this may indicate an increased risk for an IRS audit. However much this increases the risk, homebuyers who are filing their taxes properly [...]
Foreclosures in First Quarter of 2010 Up Most in Five Years
Foreclosures are picking up steam in many parts of the country, likely because many lenders are finally wading through a backlog. The nations foreclosure rate saw the biggest jump in five years during the first quarter of 2010. Original Article
Congressional Watchdog Body Says Plan to Stabilize Foreclosures Moving Too Slowly
A Congressional watchdog organization reported that the Treasury-based loan modification programs created by the Obama Administration were not beign implemented as quickly as they had hoped. The report focused specifically on the program that was funded with $50 billion dollars and was supposed to help between three and four million homeowners with loan modifications. The [...]
New Report Suggests Bubble Markets Of California, Arizona, Nevada and Florida May Not See Return To Peak Levels For 15 Years
Here’s an article from Exclusivereal.com that cites a report from Fiserv that claims the bubble markets may not see a return to peak levels until around 2025. If you ask me, it may be a lot longer than that. But that’s not necessarily a bad thing. Increases in real estate prices should ideally run as [...]
One Minor Oversight in the Financial Reform Legislation – Fannie Mae and Freddie Mac
If financial reforms are, in fact, going to have a solid impact on the likelihood of preventing another mortgage/financial crisis from occurring in the future, it would make sense that the two GSEs (Fannie Mae and Freddie Mac) would have been addressed in this legislation. Are the Democrats planning to abolish Fannie and Freddie in [...]
