Treasury hopes new rules send short sales to the rescue of underwater mortgages

In a short sale, a homeowner sells the property for its current market value, which is less than what’s owed on the mortgage, and the lender agrees to accept the lower amount. The new rules that offer participating lenders cash incentives to get them to approve more short-sale deals also allow them only 10 days to approve or reject short-sale purchase offers, said Treasury spokeswoman Meg Reilly.

Posted in bank foreclosures, buyers, Consumer News, Economic Stimulus, FHA, Finances, Financing Options, first time home buyers, First Time Home Buyers Tax Credit, First-time Homebuyer, First-time homebuyers, Foreclosure, Foreclosure task force, government bailout, home values, housing market, Local Real Estate News, Maryland, real estate, real estate information, real estate news, Real Estate Report, Realtor, sellers, Short Sale, Social Media, the Future of Real Estate | Tagged , , , , , , , , , , , , | Comments closed

Low Mortgage Rates, Catch Them While You Can

Low interest rates have been gracing the real estate market with their presence for the past year but the word on the street is that they won’t be here much longer.  While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin … Continue reading Low Mortgage Rates, Catch Them While You Can

Posted in bank foreclosures, Finances, Financing Options, First Time Home Buyer Tax Credit, first time home buyers, Foreclosure, Loan Modification, Local Real Estate News, Maryland, Maryland Homes for Sale, Maryland Real Estate Training, Mortgage Info, real estate, real estate information, real estate news, Real Estate Report | Tagged | Comments closed

Maryland Open House? It Starts Before You Open the Door

Prepare your home for being seen on the Internet first

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Bowie Students Shine on State Tests

Local schools give strong performance on MSA tests

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From History to Hogwarts – Maryland Summer Events

There’s something for everyone in the Bowie/Annapolis area

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Buying Your Maryland Home in a Buyer’s Market

“Caveat Emptor” Still Applies

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Bowie’s Urban Gardeners Give Nature a Hand

Native plants and animals finding a welcome in backyards

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Red, White, and Blue in Bowie on July 4

Fireworks and fun for the family

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To Sell Your Maryland Home, Pretend You Are a Buyer!

It’s a little scary these days, the idea of selling your home. You’ve heard that the market is not great, and that buyers are being aggressive. You wonder how much you can get for your home and how long it will take to find the right buyer. Here’s a suggestion to help answer both the … Continue reading To Sell Your Maryland Home, Pretend You Are a Buyer!

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Get Out! and Enjoy Maryland’s Early Summer Activities

Warm weather brings much to enjoy in Maryland

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