From The Washington Post : ‘FHA’s cash reserves have dropped well below amount required by law, audit shows’
DHW asks: Do you think the FHA’s reserves will hit zero?
Posts Tagged ‘President’
Audit: FHA’s reserve funds way below what law requires
Thursday, November 12th, 2009Tags: $6500, $8000, $8000 tax credit, 6500 tax credit, 6500 tax credit extension, 8000 tax credit extension, Builders, buyers, congress, employment, extension, fannie mae, FHA, fha 203 k, fha 203 k streamlined mortgages, fha 203k, fha 203k rehab, fha 203k streamlined mortgage, fha approval, fha approved condo, fha approved condos, fha cash reserves, fha limits for my area, fha limits in my area, fha loan limits, fha reserves, fha's reserve funds, first time buyers, first time homebuyers, foreclosure, freddie mac, guidelines, home buyers, home sales, home seller, home values, homebuyers, Housing, housing credit extension, housing news, housing prices, housing report, lender, loan, mortgage, Obama, President, president barack obama, President Obama, Real Estate, real estate news, reserve funds, Sales, seller, worker home ownership and business assistance act of 2009, worker homeownership and business assistance act of 2009
Posted in FHA, Housing Article, foreclosure, rehab loan | 1 Comment »
DesperateHouseWise Update
Saturday, November 7th, 2009DesperateHouseWise.com added a new page to its site. Modification Center offers helpful information for homeowners seeking a loan modification or refinance. Find information about Making Home Affordable and local foreclosure prevention events. You can even find a free, HUD-approved housing counselor.
DHW also added Housing Tax Credits. This page provides in-depth information regarding the recent extension and additions to the housing tax credits.
DHW asks: Have you applied for a loan modification? How was your experience?
Tags: $6500, $8000, $8000 tax credit, 6500 tax credit, 6500 tax credit extension, 8000 tax credit extension, and Business Assistance Act of 2009, bill h.r. 3548, buyer, buyers, counslor, fannie mae, first time buyers, first time homebuyers, foreclosure, foreclosure prevention, guidelines, h.r. 3548, home, home buyers, home owner, home owners, home seller, homebuyers, homeowner, homeowners, Homeownership, house, Housing, housing counselor, housing news, housing report, housing tax credits, lender, loan, loan modification, loan modification letter, modification center, mortgage, Obama, President, president barack obama, President Obama, Real Estate, real estate news, refinance, seller, tax credit, tax credit extension, Worker, worker home ownership and business assistance act of 2009, worker homeownership and business assistance act of 2009
Posted in Housing Article, foreclosure prevention, housing counselor, housing tax credit, housing tax credits, loan modification, loan modification center, making home affordable, refinance | No Comments »
Done! Obama signs bill extending, creating Tax Credits
Friday, November 6th, 2009President Obama signed bill H.R. 3548, extending unemployment benefits for all states and extending the $8,000 Tax Credit for first home buyers. The bill also creates a $6,500 tax credit for those home buyers who have owned their current primary residence for at least 5 years. See ‘Housing Tax Credits’ for more details. You can also see how congress voted.
Remember: The $6,500 tax credit took effect when the President signed the bill.
DHW asks: Will this encourage you to buy a home?
Tags: $6500, $8000, $8000 tax credit, 6500 tax credit, 6500 tax credit extension, 8000 tax credit extension, bill h.r. 3548, business assistance act of 2009, buyers, congress, extension, first time buyers, first time homebuyers, foreclosure, guidelines, h.r. 3548, Home Builders, home buyers, home sales, home seller, home values, homebuyers, Homeownership, Housing, housing credit extension, housing news, housing prices, housing report, HR, hr 3548, lender, loan, national association of realtors, Obama, President, president barack obama, President Obama, Real Estate, real estate news, realtors, Sales, seller, senate, tax credit, tax credit extension, unemployment, Worker, worker home ownership and business assistance act of 2009, worker homeownership and business assistance act of 2009
Posted in $6500, $8000, Housing Article, President Obama, housing tax credit, housing tax credits | No Comments »
Obama to sign unemployment benefits, $8000 tax credit bill
Friday, November 6th, 2009President Obama is scheduled to sign bill H. R. 3548, extending unemployment benefits to all states. When signed, the bill will also extend the $8,000 tax credit for first time home buyers as well as initiate a new $6,500 tax credit for those home buyers who have owned a primary residence for at least 5 years.
On Thursday, the National Association of Realtors released detailed guidelines and a Frequently Asked Questions brochure for the tax credits. The new $6,500 tax credit takes effect the day the President signs the bill.
DHW asks: Do you think the new $6,500 tax credit will help boost real estate sales?
Tags: $6500, $8000, $8000 tax credit, 6500 tax credit, 6500 tax credit effective, 6500 tax credit extension, 8000 tax credit extension, benefits extension, bill h.r. 3548, bill hr 3548, extension, extensions, first time home buyers, first time homebuyers, frequently asked questions, guidelines, h.r. 3548, home buyers, homebuyers, Housing, housing credit extension, housing news, hr 3548, jobless, jobless benefits, nar, national association of realtors, President, president barack obama, President Obama, Q and A, Real Estate, real estate news, realtors, signs bill, tax, tax credit, tax credit effective, tax credit guidelines, tax credit takes effect, unemployment, unemployment benefit extension, unemployment benefits, worker home ownership and business assistance act of 2009, worker homeownership and business assistance act of 2009
Posted in $6500, $8000, H.R. 3548 Worker Homeownership and Business Assistance Act of 2009, Housing Article, housing credit extension guidelines, housing tax credit, housing tax credits, unemployment | No Comments »
House approves $8000 Tax Credit extension
Thursday, November 5th, 2009The House of Representatives overwhelmingly approved an extension of unemployment benefits to all 50 states, and the popular $8,000 tax credit to first time home buyers. The measure also allows a $6,500 tax credit for home buyers who have owned their primary residence for at least 5 years. President Obama is expected to sign the bill as early as Friday.
The National Association of Realtors released detail guidelines and a Frequently Asked Questions brochure for the Tax Credits on Thursday.
DHW asks: Will the Tax Credit extension encourage you to buy a home?
Tags: $6500, $8000, $8000 tax credit, 6500 tax credit, 6500 tax credit extension, 8000 tax credit extension, extension, first time buyers, first time homebuyers, frequently asked questions, guidelines, home buyers, home sales, homebuyers, homes, house of representatives, Housing, housing credit extension, national association of realtors, President, president barack obama, President Obama, Q and A, Real Estate, real estate news, realtors, tax credit extension, tax credit guidelines, worker home ownership and business assistance act of 2009
Posted in $6500, $8000, H.R. 3548 Worker Homeownership and Business Assistance Act of 2009, Housing Article, President Obama, congress, first time home buyer, first time home buyers, housing tax credit, housing tax credits, realtors | No Comments »
Fannie Mae expands ‘Deed for Lease’
Thursday, November 5th, 2009Fannie Mae is expanding its ‘Deed for Lease’ program to help thousands of homeowners facing foreclosure. The program is designed for those who want to stay in their homes but do not qualify for President Obama’s loan modification program. Participants transfer their title to Fannie Mae and rent back for up to one year.
Some facts about the program:
- Fannie Mae has hired an outside agency to manage the properties (name of agency has not been released)
- Rent cannot exceed 31% of the homeowners’ pretax income
- Homeowners must be able to prove they can afford the market rent (established by the management company)
- Participants must use the home as their primary residence
DHW asks: Do you think ‘Deed for Lease’ is a good idea?
Tags: barack obama, deed for lease, deed for lease guidelines, deed in lieu, deed in lieu of foreclosure, fannie mae, foreclosure, freddie mac, guidelines, home owners, homeowners, Housing, lease, leasing, Obama, President, president barack obama, President Obama, Real Estate, real estate news, rent, renting, Sales, short sale, short sales, shortsale, shortsales
Posted in Housing Article, deed for lease, fannie mae, foreclosure, lease, rent | No Comments »
Higher loan limits extended by Congress
Monday, November 2nd, 2009Last Thursday, the US congress passed a resolution to extend the current loan limits for FHA, Fannie Mae and Freddie Mac through calender year 2010. The resolution will require President Obama’s signature, which is expected shortly.
Visit these sites to find current loan limits in your area.
DHW asks: Will the higher loan limits help you purchase a home?
Tags: area loan limits, congress, fannie mae, fannie mae limits, fannie mae loan limits, fannie mae loan limits for my area, fannie mae loan limits in my area, FHA, fha limits for my area, fha limits in my area, fha loan limits, freddie mac, freddie mac loan limits, Housing, housing credit extension, housing news, housing prices, loan, loan limits, loan limits for my area, loan limits in my area, loans, mortgage, mortgage limits, Obama, President, President Obama, Real Estate, real estate news, real estate prices, worker home ownership and business assistance act of 2009, worker homeownership and business assistance act of 2009
Posted in FHA, Housing Article, congress, fannie mae, fannie mae loan limits, fha loan limits, freddie mac, freddie mac loan limits, higher loan limts, loan limits, loan limits in your area | No Comments »