It's not just my imagination that the past several months have been some of the hardest in our industry in my career. Good God! To add even more difficulty to a slow market, the recent weather?! In my home state of Maryland we saw a reduction in revenue generated last week of $835 million in a si
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02/16/2010
The easiest way to make money on a foreclosure home is to purchase one that needs some repairs (over $5,000.00) and apply for a 203k loan. The FHA (Federal Housing Administration) insures 203k loans and allows you to borrow a predetermined amount of money to finance repairs to your foreclosure ho
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02/13/2010
In Florida, the state with the fourth highest foreclosure rate with one in every 187 homes facing foreclosure, the state Supreme Court is taking action to ease the case backlog in the court system. The court's Task Force on Residential Mortgage Foreclosure Cases, concerned that "vague last minute
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02/13/2010
Prince George's County Down Payment on Your Dream Program is a great opportunity for first time homebuyers, and buyers who haven't owned real estate in the past three years. But hurry. With funds quickly running out, PG County has set a Feb. 19 application deadline. The Down Payment on Your Dream
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02/12/2010
Housing and Urban Development (HUD) is the recipient of all the FHA-insured home foreclosures in the United States and its territories. This means that whenever a homebuyer purchases a home with an FHA-insured loan, then defaults, HUD will eventually take possession of the house. HUD takes posses
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02/12/2010
A confluence of factors driven by financial industry practices and changing government policies and regulations exacerbating an already devastated housing market will result in a doubling of real estate foreclosure rates in 2010. The first and most obvious factor is the unemployment rate that con
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02/12/2010
The administration's Making Home Affordable program is looking a lot more like an empty gesture than the real estate industry cure-all many were led to believe it could be. On paper, it looked great. Launched last March, it certainly arrived right on time and allowed thousands, more than 850,000
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02/12/2010
The lynchpin in the homebuying process is knowing how much home you can afford. Even if you have prequalified for your home purchase, you may want to have your information reviewed by your mortgage lender to determine if there are ways you can be qualified for a higher amount or lower interest ra
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02/11/2010
77 Days and Counting Although you may close as late as June 30, this year to qualify for the extension on the tax credit, your contract must be in effect, no later than April 30,2010. This is exactly 11 weeks from today. A first time homebuyer may request a tax credit of up to $8000 or 10% of t
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02/11/2010
As many of us dig out from this week's "Snowmageddon," just as important as a clear driveway, perhaps moreso, is a roof clear of "ice dams." If the new-fallen snow is permitted to stay on your roof, especially if it's a low-pitched roof, it can melt and re-freeze, lifting shingles and allowiing l
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02/11/2010
