The march of the hotel alternatives continues, this time with the arrival of a home-swapping service aimed squarely at the upper echelon of homes. Luxe Home Swap allows people with high-end dwellings to swap accommodation with others all over the world.
via Springwise.
After getting the offer accepted, we received the association docs. Needless to say that I was dragging my feet on reading this 117 page document over the weekend. My customer, being an attorney, dove right in. Deep within the document were the “rental rules”, which went on to say that a unit in that association may only be rented if the owner lived in the unit for at least 1 year prior to renting it. [Insert gnashing of teeth by me, here].
The popular tax break for mortgage interest, once considered untouchable, is falling under the scrutiny of policymakers and economic experts seeking ways to close huge deficits.
via Seeking Alpha.
.In some neighborhoods and price ranges, sellers are dropping their prices because buyers are harder to find now that the credit has expired.
via RISMedia.
What would happen to the housing market if strategic default grows into a widespread phenomenon? Fannie Mae FNM, not wanting to sit around find out, yesterday announced that it was going on the offensive against strategic defaulters. Anyone that walks away from a mortgage that can still afford to pay will be locked out of the mortgage market for seven years.
via Seeking Alpha.
We’re not talking about those who have received an alternative sentence from a court and are wearing electronic ankle bracelets to monitor their every move. We’re talking about people who are trapped in their current home because they owe more on the mortgage than the current market value of the house
via Bigger Pockets.
Many economists and analysts would agree that the mortgage market meltdown, housing bubble and global financial crisis resulted from the political obsession in America to increase homeownership with easy credit and government housing policies. Even the House of Representative’s Committee on Oversight and Government Reform concluded last summer that:
The housing bubble that burst in 2007 and led to a financial crisis can be traced back to federal government intervention in the U.S. housing market intended to help provide homeownership opportunities for more Americans.
via Seeking Alpha.
The current $8,000 first time home buyer and $6,500 repeat home buyer tax credits expire for most Americans in four days, but for qualified service members, the tax credit will be extended until April 30, 2011.
via Read more.
