After about a year of dealing slowly and reluctantly with short sale offers, many banks are reconsidering, looking for solutions that will allow them to recoup debt in foreclosure situations.
Observers say that if the trend continues, it will reduce or eliminate the need for taxpayer bailouts.
The National Short Sale Center, which helps short buyers negotiate […]

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As April 15 approaches, here’s what home owners need to know about the deductibility of mortgage interest and property taxes.
Taxpayers may deduct on Schedule A of Form 1040 mortgage interest on the purchase or home equity debt on two residences, their primary home and another dwelling, including a boat or a mobile home. These dwellings […]

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A proposed new provision in the planned economic stimulus package would offer a tax credit for home buyers. If enacted, it would help reduce the large amount of new housing inventory currently on the market, according to the National Association of Home Builders.
"It would be particularly helpful to first-time buyers," said Lawrence Yun, chief economist […]

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Freddie Mac has launched an anti-fraud video on YouTubeTM in an effort to warn troubled borrowers about the dangers of falling victim to con artists promising to help them avoid foreclosure through various fraudulent workout options.
"With fraud reports on the rise, we are using every communication channel out there to warn borrowers about these fraudsters, […]

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Despite declining home prices as recently reflected in an S&P/Case-Shiller home price statistics survey, on average, the nation’s top markets have experienced price appreciation by as much as 50 percent over the past five years, according to comparable data from the National Association of Home Builders (NAHB).
"It’s important to keep things in perspective," said NAHB […]

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Currently proposed legislation to reform the bankruptcy code and allow judges to impose debt on primary residential mortgages will create significant costs on consumers by restricting the flow of capital into the mortgage market thus increasing their cost, according to David Kittle, chairman-elect of Mortgage Bankers Association.
"If you chip away at the security created on […]

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An increasing number of parents of college-bound offspring are purchasing a condo or small house in the area of the college for their student’s residence while attending the college or university. In some cases, it appears to be more cost-effective than paying for a room in a dorm. The student will often rent out a […]

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New legislation has been proposed that would restrict lending practices, encourage states to enact stronger mortgage regulations and set up federal-level regulations if they don’t do so. The bill, proposed by Rep. Barney Frank, chairman of the House Financial Services Committee, is designed to protect future borrowers.
The new law would bar mortgage lenders and brokers […]

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A currently proposed bill (H.R. 1876) would correct what many consumers and real estate professionals consider to be a serious flaw in our tax system. It would change the current law that forces individuals to pay an income tax when they have had part of a mortgage loan forgiven or have been forced to foreclose […]

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