I was reading an article on CNN Money.com today titled “How to rescue the housing market: Foreclosures!â€. Not a great title I would say and more importantly in my opinion not a great concept at all.
The gist of the article is that the government needs to reverse the policies of the last 4 years since the housing downturn and actually encourage foreclosures as a means of “stabilizing†the housing market. They included this interesting graph (above)showing how more home owners are becoming delinquent for longer periods of time. (read on after the jump for more)
Welcome Back Readers! Today we have a Web Trek Online Open House at 617 West Vine Street in Lancaster City’s historic West End! This huge detached property is 1,619 Sq ft and offers 4-5 bedrooms and loads of storage space! Check out the video for your personal tour!
Welcome Back Readers! Thanks for stopping by again,I just wanted to take a minute and let you know about a new website from Fannie Mae. The site, www.KnowYourOptions.com is full of great information regarding forclosure and as the title would suggest, what your options are. Check it out and if you are thinking of selling your home to avoid foreclosure, call me,I will be happy to help you through!
For example, I wrote a post a few months ago about Fannie Mae offering 3.5% closing costs assistance/appliance credits for buyers. Due to the popularity of this program (according to Fannie Mae that is), they have extended the program through June!
Click through the “Read More” link after the jump for all the details!
I’ll tell you what those are after the jump, but in the meantime just a note, March was busier than February, April will most likely be too. As a reminder, if you are buying a home, as a first time buyer or a repeat buyer, you have 29 days left to place a home under agreement to ensure that you qualify. Buyers who want to claim the credit must have a home underagreement by 4-30-10 and must settle by 6-30-10. Call me if you’d like more details, nowon the the market report!
Welcome Back Readers! I wrote thisarticle a little over a year ago and thought it would be worthwhile to refresh it and repost. Why? Well, here in Lancaster Pennsylvania we are in much better shape than many other areas, we do not have, and should not expect, a flood of foreclosures. That being said, foreclosure is thereality many homeowners are currently facing and the majority of themdo not understand the process. First and foremost, this article is not in any way considered to be, or offered as, legal advice. I am not an attorney and all homeowners with specific questions about the foreclosure process should consult with an attorney. With that being said, I am going to lay out in simple terms just what to expect in the process. Let’s get started, read on after the jump for more!
I wanted to let you know about a program announced today by Fannie Mae. Fannie Mae has a little problem, namely 50,000 homes they now own through the foreclosure process and they are looking to move them. You can see a list of what’s there at www.homepath.com (there are 19 Fannie Mae Foreclosuresin Lancaster County Pa as of today).
That’s not the announcement though, the announcement is that Fannie Mae is now offering 3.5 % of the home’s purchase price as an incentive to buyers! Read on after the jump to find out more!