Jennifer Young Homes BLOG

By
Real Estate Sales Representative - Keller Williams Realty
Northern Virginia and Maryland FYI on Real Estate
RECENT BLOG POSTS
Financially-stressed homeowners left hanging while their banks consider whether to approve the short sales of their properties may benefit from new federal guidelines that give lenders a 10-day limit in which to respond to purchase offers. The rules from the U.S. Treasury, which also allow financ...
01/17/2010
January 11, 2010 - In an effort to expedite REO sales, Fannie Mae has adopted a new policy. As part of this policy, Fannie Mae may accept offers to purchase homes it has repossessed without notifying loan servicers, and loan servicers may be required to reimburse Fannie Mae for a loss if it turns...
01/11/2010
ATTENTION! Mortgage insurance companies are adapting a similar rule as FHA in regards to flipping properties. This will impact the mortgage market starting 10/12/2009, not leaving us with much time. If you have Conventional buyers above 80% loan to value, please make sure the mortgage insurance h...
01/06/2010
FHA released underwriting guidance regarding handling transactions in which the borrower has experienced a short sale or will require a short payoff in order to refinance their existing mortgage. The guidelines reflect current market conditions due to the deterioration in property values in most ...
12/29/2009
The latest from the FHA website shows that first time home buyers are those who are purchasing a “primary residence” for the first time. Are you trying to get an FHA loan and interested in this tax credit? FHA loans require you to live in the property you buy, so if you are approved for an FHA lo...
12/29/2009
Loan Modifications are Up, but so are Foreclosures. The estimated number of homes heading toward foreclosure reached 1.7 million units nationally, up from 1.1 million this same time last year. This data comes from third quarter numbers published this week by First American CoreLogic data. The inc...
12/24/2009
Homebuyer Credit Expanded and Extended The Worker, Homeownership and Business Assistance Act of 2009, signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. Under the new law, an eligible taxpayer must buy, or enter into a binding contract ...
12/21/2009
The foreclosure tide appears to be subsiding, according to the latest numbers from RealtyTrac. The company said Thursday that foreclosure activity fell 8 percent in November, compared to October – it’s the fourth consecutive month that data has shown a decrease in foreclosure filings. The number...
12/11/2009
More than 25 percent of homeowners who have received assistance under the administration’s Home Affordable Modification Program (HAMP) have fallen behind on their new payments – a harrowing statistic that has stirred up more doubt about the effectiveness of the government’s $75 billion foreclosu...
12/09/2009
  The mortgage servicing industry completed 271,563 total loan workouts in October, according to Hope Now, the private sector alliance of mortgage servicers, investors, insurers and non-profit counselors. Workouts included 198,373 repayment plans and 73,190 modifications. At the same time, the in...
12/07/2009
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