Foreclosure task force

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

By admin | Published: March 14, 2010

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.

Also 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, 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 Bowie Real Estate, buyer, buyers, buyers market, First Time Buyers, Foreclosures, home sales, home seller, Maryland, Maryland homeowner, Maryland Real Estate Market, mortgage, real estate market | Comments closed

If You Don’t Buy a House Now, You’re Stupid or Broke. Business Week by Mark Roth.

By specialed | Published: December 9, 2009

This article was featured in Business Week. At first the headline seems very to be a very insulting statement! But the writer, Mark Roth, uses this dramatic title to get your attention to make excellent points for those who are on the fence. Namely those interest rates are at an all time low, in fact, … Continue reading If You Don’t Buy a House Now, You’re Stupid or Broke. Business Week by Mark Roth.