“[The buyer] coming up almost to asking price, but I can’t get the renter out,” sighed [the Broker]. She is holding her breath until April, when she will hear whether the tenants intend to exercise their option to extend the lease for another year.
via NYTimes.com.
A $1.25 trillion program from the Federal Reserve which has held down mortgage rates is set to end March 31 and tax credits to bolster home buying are scheduled to expire at the end of April.
The agency clarifies documentation that taxpayers will need in an effort to curtail widespread fraud in the program.
via latimes.com.
Garcia liked the home and saw its potential, but didn’t have the upfront money it would take to rehab the home the way it needed to be done.
via RISMedia.
I love landlords. I get the majority of my deals from landlords who are sick of dealing with tenant hassles. The biggest payoff comes when you get a call from a landlord who wants to sell you multiple properties, such as 3, 10, 20 and maybe even 50 houses at once.
While mortgage rates remain at historic lows, borrowing in the current tight credit climate can prove challenging. Prospective homeowners therefore need to be as well-informed as possible about the mortgage process and what it takes to qualify for a loan.
via HispanicBusiness.com.
If it was a booming mortgage market right now, lease options would be the “last option” a buyer and seller would be using. With increased foreclosures, bankruptcies and numerous home for sale on every street, the ideal of lease option and seller financing has returned.
via Suite101.
Foreclosures shatter records
Last year, the number of homes that received foreclosure notices hit 2.8 million, crushing the number of notices from previous years, bringing the total up 21% from 2008 and a heartbreaking 120% from 2007, according to RealtyTrac.com
via Agent Genius.
