Short Sales, Foreclosures,Current Events

FHA Breaking News…Buy a Home 12 months after Short Sale

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Fantastic news from FHA. Just released, If you completed a short sale and it’s been over 12 months, you may qualify for a new mortgage loan! Easy guidelines to meet, if you had a hardship, then simply have the documentation to back it up. The Federal Housing Administration (FHA) is allowing borrowers who went through a bankruptcy, foreclosure, deed-in-lieu, or short sale to reenter the market in as little as 12 months, according to a mortgage letter released Friday. Borrowers who experienced a foreclosure must wait at least three years before getting a chance to get approved for...

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JP Morgan Chase Bank Offering Big Rewards to Sellers That Short Sale -vs- Foreclosure

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Today… We’ve been wondering when this would be exposed… Chase has been awarding it’s sellers that choose a Short Sale a hefty bonus for a succesful close…up to $35,000. Many banks offer incentives, however, most are in the realm of $3000. We have experienced this award from Chase over the last 6 months:   Here’s the article: To avoid further clogging the already sluggish home foreclosure pipeline, some lenders have been offering cash incentives to strapped homeowners at risk of foreclosure to complete short sales and move out of their homes. Chase,...

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It's Official…New Buyers Must Meet June 30 Close Deadline to Get Tax Credit

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It seems our illustrious government representatives can’t find a common ground to on which to meet…what’s new? With the recent defeat of HR 4213 on The Hill…it leaves an uncertain feeling in the mouths of buyers that are trying to take advantage of the $8,000.00 tax credit. Why it didn’t pass…there’s simply too much “pork fat” tied to it…or other initiatives that clouded its intention. Along with this HR bill…there was tied another initiative that would cost Americans billions of dollars and of course, that was the area of...

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