With the tax credit set to expire April 30 and interest rates low, is it a good time to buy a home? Here’s a good viewpoint, from CNN’s Money.com: Nab a real estate deal – while you still can
http://money.cnn.com/2010/03/02/real_estate/real_estate_deals.moneymag/index.htm
The following is extremely important! HUD has proposed to eliminate seller financing unless the seller lives in the home or becomes a licensed mortgage originator. This affects all homeowners and homebuyers (even if you’re not an investor) because it restricts one of the most important tools that a seller and buyer have to create win-win transactions, and can further hurt property values and chances for a recovery.
How YOU can help:
Real estate investors, home buyers and home owners across the country need to go on record with HUD on this issue. Please review the proposed law and submit your comments to HUD. We have until March 5th (extended due to public response) to flood this system with comments.
Follow these simple steps:
Or use these direct links:
FR–5271–P–01
SAFE Mortgage Licensing Act:
HUD Responsibilities Under the SAFE Act
(Document ID HUD-2009-0155-0001)
What do you say?
Say what you feel, but say it politely! The message should include that you would like the definitions in the proposed rules to be changed so that sellers can originate and service loans on any property they own, whether it’s a principal residence or not.
Make your voice heard!
Mike Sumsky
On Friday, HUD Secretary Shaun Donovan announced a temporary policy that would allow FHA-mortgage insurance on homes that have been bought and resold within a 90-day period. The current regulations have prevented many would-be home buyers from purchasing many HUD-owned properties, bank-owned properties, or properties sold through private parties unless they’ve sat for more than 90 days.
This is great news not only for homebuyers, but investors too. Real estate investors and rehabbers have been vital to the real estate recovery, purchasing and rehabilitating properties which have sat vacant and often vandalized after foreclosure. Oftentimes, the process of buying, fixing and re-marketing the home occurs in a period much faster than 90-days and this will allow a much larger buyer pool and give many first-time homebuyers access to these properties.
The new policy will go in effect on February 1, 2010 and will remain in place for one year unless it is extended or withdrawn, and the waiver is limited to properties which meet certain general conditions such as:
More information can be found at the HUD website.
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