Just as we did last year on New Year’s Eve, let’s take a look at our most popular blog posts of 2010 (judging by the number of comments):
“Update1: HARP Receives One Year Extension — What’s the Point?” — 117 Comments — Published on 03/02/10
Read the rest of this entry »
In honor of Veterans Day, I thought I’d go over some of the particulars of a VA home loan. Think of VA loans as one small way our country tries to honor our veterans for their service through an easily-accessible mortgage program, one which even offers a streamline refinance choice.
What is a VA loan?
When you read the results of the Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions, it’s easier to understand why September’s Pending Home Sales Index recorded its first decline since June.
For the first time in the Campbell/IMF survey’s history, cash became the number one source of financing for homebuyers. Recently, the FHA has been the predominant source of funding for buyers: Read the rest of this entry »
Homeowners: Looking for a reason to pull the trigger on that home repair or renovation? If so, here’s a reason: federal tax credits for installing certain energy-efficient improvements expire on December 31, 2010:
The tax credit for efficiency upgrades in existing homes (Internal Revenue Code Section 25C) is available for 30 percent of the cost, up to a $1,500 limit for 2009 and 2010, for the installation of certain types of insulation, windows, roofs, water heaters, heat pumps, air conditioners and furnaces. Details on the kinds of products that qualify and instructions for obtaining the credit are available at www.nahb.org/efficiencytaxcredit.
Here’s just a taste of every blog post we published this week (click on the titles to read the entire post):
Saturday
“Fannie Mae: HAMP harder to qualify, foreclosures speed up“:
Beginning on November 1, 2010, Fannie Mae will no longer consider unemployment benefits as income for borrowers applying for HAMP. Fannie hopes that the new restriction will serve to curb the large number of HAMP redefaults. This will also mean that fewer borrowers will qualify for the federal modification effort.
Homebuyer tax credit: Third time’s the charm?
According to the most recent numbers, since it was first introduced in 2008, the homebuyer tax credit helped 3.3 million homeowners and cost the country $23.5 billion.
After President Obama extended the closing deadline to the second portion of the homebuyer tax credit back on July 2, 2010, most of us thought that was it for the credit. However, the homebuyer tax credit has been back in the news ever since HUD Secretary Shaun Donovan failed to give a reporter a straight answer when asked whether the administration was considering a third tax credit.
This summer was quite an interesting time for mortgage rates. Mortgage rates fell a little more than one-third of a percentage point during the summer, seemingly reaching all-new lows every week. Yet as summer has begun to wind down, so have the declines.
For the last six weeks or so, rates have wandered in a very narrow range and seem to be finding some consistency. According to our latest Market Trends Newsletter, “Provided the economy gets no worse, and there is no return of financial panic, mortgage rates don’t really have much place to go.”
Saturday
“New research: Majority say ‘walking away’ still unacceptable“:
As the economic crisis wages on, I’m curious to know if your thoughts on strategic defaults have changed. Late last year we divided the walking away argument into two categories: emotion and logic. While some borrowers felt as though they had a moral obligation to keep paying their mortgage, others felt as though the decision to walk away is a business decision, nothing else.
According to the most recent numbers, since it was first introduced in 2008, the homebuyer tax credit helped 3.3 million homeowners and cost the country $23.5 billion.
After President Obama extended the closing deadline to the second portion of the homebuyer tax credit back on July 2, 2010, most of us thought that was it for the credit. However, the homebuyer tax credit has been back in the news ever since HUD Secretary Shaun Donovan failed to give a reporter a straight answer when asked whether the administration was considering a third tax credit.
Did you claim the homebuyer tax credit on your 2009 tax return? If so, depending on which version you got, you may have to pay it back:
According to a report from the Inspector General for Tax Administration, released to the public Thursday, about 950,000 of the nearly 1.8 million Americans who claimed the tax credit on their 2009 tax returns will have to return the money.
HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.
