Fort Lauderdale Blog

Buffett Predicts Downturn Will End in 2011

REALTOR® Magazine-Daily News-Buffett Predicts Downturn Will End in 2011

Freddie Mac: Final Nail in the Coffin of Interest Only Mortgages? | Before It's News

Freddie Mac: Final Nail in the Coffin of Interest Only Mortgages? | Before It's News.

Buyers Seeking Mother-in-Law Suites

To Permute or not to Permute? one of these days... we will! REALTOR® Magazine-Daily News-More Buyers Seek Mother-in-Law Suites. Makes perfect sence to me.

Could the Tax Credit Be Extended Again?

YES WE CAN !! why not? REALTOR® Magazine-Daily News-Could the Tax Credit Be Extended Again?.

FHA Changes Alert: Anti-Flipping Rule Relaxed

Beginning Feb. 1, the Federal Housing Administration will provide mortgage insurance for some purchases in which the seller bought the property and held it for fewer than 90 days.

FHA Regulatory Changes Alert

FHA announced changes in the following areas:

• The upfront mortgage insurance premium (UFMIP) will increase to 2.25 percent up from 1.75 percent. Contrary to reports, FHA will continue to allow the financing of the UFMIP.

Is Rent to Own an option in Fort Lauderdale?

The current home market seems impossible to buck. The one advantage though is that more creative options are becoming more common to navigate the apparent road blocks to owning a home.

Are bank foreclosures (REO'S) avoiding FHA buyers altogether?

 Not sure if it is me or what, but are Bank Foreclosures (REO's) going out of their way to avoid FHA buyers?  this year alone, I had at least 5 buyers that had lost the property of their dream to

Federal Tax Credit is Extended

President Obama is signed the bill passed by Congress extending and expanding the first-time homebuyer tax credit to homes under contract before May 1, 2010.

The credit, equal to 10 percent of a home's purchase price, remains capped at $8,000 for first-time homebuyers, but income limits have been raised.

Congress also approved an expansion of the credit to allow homeowners who have been in a principal residence for at least five of the last eight years to claim a tax credit of up to $6,500 if they sell that home and buy another.

That will provide an incentive not only for entry level, but move-up buyers!

Here's more information and a useful site from the government about the Tax Credit: http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Cases of Loan Modifications being revoked

Complaints continue to rise against Bank of America rescinding loan modifications granted to home owners in Florida.

Some home owners who were granted a mortgage modification found that months later their modification was revoked, the bank citing that they had been non compliant with the terms of the modification. Home owners say they do not know what the bank is talking about..they are compliant.

The Florida Attorney General is looking into the claimes. Bank of America currently has 452 complaints against them, with JP Morgan Chase showing 62. Bank of America has been more aggressive in offering loan modifications with 82,000 mortgage modification so far in Florida so their numbers are higher.