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Anil Alex Moonasar's Blog (8)

FHFA streamlines mortgage modifications July 1

WASHINGTON – April 11, 2013 – Effective July 1, mortgage servicers must offer eligible borrowers at least 90 days delinquent an easy way to lower their monthly payments and modify their mortgage without requiring financial or hardship documentation. The loans apply to those owned by Fannie Mae and Freddie Mac, according to the Federal Housing Finance Agency (FHFA)



The new Streamlined Modification Initiative eliminates administrative barriers. It becomes effective July 1, 2013, and…

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Added by Anil Alex Moonasar on April 11, 2013 at 9:09pm — No Comments

Forget ‘improving’ or ‘rebound’ – Fla. is ‘on fire’

WEST PALM BEACH, Fla. – March 8, 2013 – Lesley Deutch, senior vice president at John Burns Real Estate Consulting, said the “Florida market is on fire” in her latest update on the state’s housing market.



Deutch says she traveled the state recently and visited more than 20 communities. While recovery reports differ between Florida cities and urban areas, she reports five major trends:



1. Land prices. While the price of land continues to rise quickly…

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Added by Anil Alex Moonasar on March 9, 2013 at 11:05am — 1 Comment

How to guide: Finding homeownership tax deductions

WASHINGTON – March 6, 2013 – Tax season is underway, and homeowners gearing up to meet the April 15 filing deadline can find the tax tips and insights they need at HouseLogic.com, a consumer website created by the National Association of Realtors® (NAR).



An overview of the tax benefits of homeownership, HouseLogic’s…

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Added by Anil Alex Moonasar on March 7, 2013 at 10:36am — No Comments

Investment firms buying up Florida foreclosures

Hedge funds and investment firms are buying up Florida foreclosures, beating out homebuyers and local flippers, while steering the state into what some fear is another real estate bubble.



The companies, including New York-based Blackstone Group and Lake Success Rentals, a partner of Toronto-based Tricon Capital Group, purchased an estimated 5,300 Florida homes last year that were in some stage of foreclosure, according to a report from RealtyTrac.



In Palm Beach County,…

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Added by Anil Alex Moonasar on February 19, 2013 at 2:47pm — 1 Comment

What’s the best season for home buying?

After the holidays, buyers tend to get more aggressive with their house hunting. Search activity usually peaks around March or April in most states, according to a new study of home searches from 2007 to 2012 conducted by Trulia.



In September, searches slow down. By December, buyer searches ebb to their lowest point of the year.



“Home-search activity swings with the seasons in every state,” says Jed Kolko, chief economist of Trulia. “Buyers and sellers can use these ups…

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Added by Anil Alex Moonasar on February 2, 2013 at 12:24pm — No Comments

FHA to tighten some loan rules

The Federal Housing Administration (FHA) announced a series of changes to be issued this week.



Commissioner Carol Galante calls the changes “essential and appropriate” as the administration tries to bolster its cash reserves in its Mutual Mortgage Insurance Fund (MMI Fund).



Changes to mortgage insurance premiums

FHA will increase the annual mortgage insurance premium (MIP) added onto most new mortgages by 10 basis points…

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Added by Anil Alex Moonasar on January 31, 2013 at 1:44pm — No Comments

Florida Foreclosures

 Six Florida cities rank among the best places to buy foreclosures in 2013, according to a report by RealtyTrac.



Topping a list of 20 metropolitan areas is Palm Bay-Melbourne-Titusville, the Irvine, Calif.-based real estate data firm said.



RealtyTrac looked at four criteria in tallying the “best places”: the supply of foreclosure inventory; foreclosure sales as a percentage of all transactions; the average percentage discount on foreclosures;…

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Added by Anil Alex Moonasar on January 31, 2013 at 1:38pm — No Comments

Outside remodeling has biggest return on investment

Homeowners looking for the most return on their investment when remodeling should consider exterior replacement projects. According to the 2013 Remodeling…

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Added by Anil Alex Moonasar on January 30, 2013 at 1:53pm — No Comments

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