You’ve all heard the story before, months and months of laboring to get the short sale approval, you finally get it and the second lien holder or mortgage company will not accept what the first lien holder is agreeing to pay them. Result: Now your short sale is held hostage. The first will not pay […]
The Responsible Homeowner Refinancing Act of 2013 was reintroduced this week for approval by Congress. This bill, if passed, will benefit responsible homeowners who have stayed afloat and maintained their mortgage payments current, despite their home values being upside down. Responsible for the introduction of this bill are U.S. Senators Robert Menendez (NJ) and Barbara […]
Many buyers and sellers are on pins and needles… not knowing whether to take the plunge and buy a property or place their homes on the market and take a chance that they are making the best profit. Certainly no one expected the housing market, paricularly the Miami, Coral Gables and Pinecrest areas, to go […]
Short sales for the third and fourth quarter of 2012 reported a record high, according to a report by the Federal Housing Agency. In fact, short sales and deed in lieus were up 23 percent from the prior year 2011 while REO inventories were down by 36 percent, from their peak in 2010. Source: Inman […]
2013 MAY BE THE BEST YEAR TO BUY A HOME Aside from mortgage interest rates being at the lowest in almost 30 years, and home prices still well below what they were 6 years ago (although positively climbing…good for sellers, bad for investors) numerous elements of the fiscal cliff bill favor buyers and sellers alike. […]
CHANGES TO THE ESTATE-TAX EXEMPTION FOR 2013 Sellers of property over a million dollars should be aware of changes to the Estate-Tax Exemption in 2013. The Federal Estate-tax Exclusion amount for estates of property owners who die in 2013 increased to $5,250,000 in 2013, up from $5,120,000 in 2012, as per the Internal Revenue Service. […]
On Friday, January 18, 2013, Fannie Mae and Freddie Mac announced changes to their servicing requirements for short sales. These changes apply to all Fannie Mae and Freddie Mac short sales, with an offer and without an offer. • Title Transfer requirement change: o The buyer is prohibited from selling the property for any sales […]
APPLY FOR THE HOMESTEAD EXEMPTION ONLINE It’s Fast, Easy, and Secure Miami-Dade County’s new Property Appraiser, Carlos Lopez-Cantera, is proud to announce and put into service a 100% online homestead application process. Miami-Dade Homeowners can now go online to complete the entire application process for Florida’s Homestead Exemption and for the Homestead Assessment Difference, commonly […]