HUD has released a new version of its consumer booklet that includes an explanation of the new Good Faith Estimate disclosure form and rules. The booklet is so new that printed copies are not widely available yet, but you can download it online from the HUD website.
Link to Buying Your Home: Settlement Costs and Helpful [...]
Archive for the ‘News, Opinion & Analysis’ Category
Resources for the 2009 HomeBuyer Tax Credit
Posted in Getting Ready, News, Opinion & Analysis, tagged first-time buyer tax credit on March 17, 2009 | Leave a Comment »
If you are wondering if and how you can make use of the First Time HomeBuyer Tax Credit in 2009, this Frequently Asked Questions on the tax credit from the NAR website is very helpful.
Changes Abound on New Tax Forms from the WSJ includes a good overview of the revised Home-Buyer Tax Credit provisions.
You’ll also need the new Form [...]
Home Value Down? “DU Refi Plus” May Avoid PMI
Posted in News, Opinion & Analysis, Property and Value, Refinancing on March 5, 2009 | Leave a Comment »
The March 4 announcement of the Treasury’s “Making Home Affordable” program includes some relief for borrowers who are not delinquent on their mortgage but who have not been able to take advantage of recent lower rates because their 20% equity position has been eroded.
Under the old rules, with property values down from their peaks, people who [...]
The Costs of Waiting
Posted in Getting Ready, News, Opinion & Analysis, tagged first-time buyer tax credit, government interest rate on February 25, 2009 | Leave a Comment »
Well do I know that lots of people have been waiting out buying or refinancing, waiting to see what the government would come up with to support the housing market. I was glad to see that fact noted as the cause behind the headline, which was “January Existing Home Sales Fall By 5.3 Percent“.
We were led on, and it hurt [...]
White House Blog on Homeowners Assistance
Posted in News, Opinion & Analysis, tagged Help for Homeowners on February 18, 2009 | Leave a Comment »
Did you know the White House has a blog?
Today’s post explains the provisions of today’s announcement on Help for Homeowners, aimed at helping people who owe more than their homes are currently worth to refinance at favorable terms.
Another useful source of information is Obama unveils $75 billion mortgage relief plan from the AP.
We now wait until March 4 [...]
Update: 1st Time Buyer Tax Credit $8000
Posted in Getting Ready, News, Opinion & Analysis, tagged 2009 tax credit, first-time buyer tax credit on February 13, 2009 | Leave a Comment »
Realtor.org reports, “The $790 billion stimulus package hammered out by House and Senate conferees late yesterday increases the home buyer tax credit to $8,000, from $7,500, and drops the repayment feature for buyers who hold on to their property for at least three years.”
Since the repayment provision made last-year’s version unattractive for many buyers, its [...]
Clearing for Meadowcreek Parkway Begins!
Posted in Charlottesville Interest, News, Opinion & Analysis on February 13, 2009 | Leave a Comment »
According to a February 12 VDOT press release passed along to me through my neighborhood association, the Meadowcreek Parkway project begins with site work in Albemarle County next week:
CULPEPER -Land-clearing will begin the week of February 16 for the Meadow Creek Parkway project in Albemarle County. Project contractor Faulconer Construction Company, Inc. is currently doing [...]
What are You Waiting For?
Posted in News, Opinion & Analysis, tagged government mortgage rate, interest rate on February 13, 2009 | Leave a Comment »
It appears that while there may be some sort of relief for home owners who cannot afford their mortgages, it will be a means-tested (rather than limited to delinquent mortgage holders) refinance program.
According to a Yahoo News report from Reuters , “Officials weighed, but for now have shelved, another plan that would have seen the government [...]
Local Real Estate in the Global Village
Posted in News, Opinion & Analysis on February 2, 2009 | Leave a Comment »
Everyone knows that, in real estate, it’s location, location, location.
As the housing industry became a backbone of our economy, technology helped the business world become truly global.
Now, do we think there is a overarching public interest – including a business interest – in where the jobs are?
What happens when a company leaves a town – but the people [...]
Update: Tax Credit for First-Time Buyers
Posted in News, Opinion & Analysis, tagged first time homebuyers, tax credit on January 27, 2009 | 1 Comment »
I received a message today about the first-time-homebuyer tax credit (see earlier post) ; the question is timely, because Saturday’s Washington Post had a very informative column about the tax credit by Ken Harney, which I am pleased to pass on.
The $7500 credit, for purchases made between April 8 2008 and July 1 2009 has been limited in appeal because [...]
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