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Jason Donn's Blog (9)

Where do all the Disgraced Mortgage Bankers live?

In Florida of Course.

But not only do they live in Florida, they live in a special neighborhood just for these types of bank executives. They all live in an upscale subdivision in beautiful, sunny Fort Lauderdale, Florida aptly named Shady Banks, where the homestead laws favor unsavory characters of this sort. Yes, this picture does not lie and many former mortgage… Continue

Added by Jason Donn on December 12, 2009 at 12:41am — 4 Comments

Governor Crist Encourages First-Time Home Buyers to Use Federal $8,000 Tax Credit

TALLAHASSEE, Fla. /Florida Newswire/ -– Governor Charlie Crist today met with Florida REALTORS® to discuss Florida’s housing market. Governor Crist encouraged first-time home buyers to take advantage of the tax credit made available through the federal American Recovery and Reinvestment Act of 2009. The $8,000 tax credit applies to primary residences as long as they are purchased before December 1, 2009.

“Even though today is Tax Day, first-time Florida home buyers can still claim… Continue

Added by Jason Donn on April 19, 2009 at 10:32pm — No Comments

Generation Y: Bullish on U.S. Housing Market

First major national housing survey during current downturn reveals surprising results

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--The first major survey into Generation Y’s perception of the U.S. housing crisis reveals a surprisingly strong sense of optimism about the future despite cautious near-term sentiment.

While the housing industry is readying for this wave of future homeowners (approximately 80 million strong), there is little data on what this… Continue

Added by Jason Donn on April 14, 2009 at 1:01pm — No Comments

A shadow lurks in the housing market

This is scary. The San Francisco Chronicle reports that lenders are sitting on hundreds of thousands of foreclosed homes that haven’t even been listed yet. If this “shadow inventory” hits the market, we’ll have a new definition of bottomless pit.

From the article:

“We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market,” said Rick Sharga, vice president of RealtyTrac, which compiles nationwide… Continue

Added by Jason Donn on April 8, 2009 at 10:28pm — 1 Comment

CREDIT REPAIR - Closing more deals with the right Credit Repair Company

As many of you know Credit Repair Companies are a dime a dozen. Most of the credit repair companies I have come in contact with charge around $500 or some sort of monthly fee. From the feedback I have received, most of them are not very good.

In an effort to find a VERY GOOD credit repair company I started researching them and met with several. 1 or 2 seemed to be very good but charged an arm and a leg. I finally found one that was not only superb but were also reasonable in their… Continue

Added by Jason Donn on March 14, 2009 at 12:30am — 4 Comments

Foreclosure nation

Posted by Scott Van Voorhis

Looks like the foreclosure epidemic is getting its second wind.

The first wave of foreclosures featured homeowners duped into buying homes they couldn’t afford with goofy, subprime loans. Not to mention a whole lot of small-time investors who bought units in hopes of flipping them for big profits, as well as a just outright fraudsters who used straw buyers to create artificial sales.

But much of that first wave of crazy subprime… Continue

Added by Jason Donn on March 8, 2009 at 9:26pm — No Comments

Housing bailout details are released

The Obama administration today is rolling out details of its plan to help as many as 9 million homeowners restructure their mortgage debts and avoid foreclosure.

Here's a link to the summary of guidelines for the program. There are plenty of additional details posted on the Treasury Department Web site.

To be sure, the effort has evoked mixed feelings.

The majority of folks who played by the old-fashioned rules of saving money and not buying more house than you… Continue

Added by Jason Donn on March 4, 2009 at 9:27pm — No Comments

Fannie: Renters Can Stay in Foreclosed Home

Fannie Mae announced Tuesday that it would allow qualified renters of foreclosed properties owned by a government-controlled mortgage company to stay in their homes.

Under the National Real Estate Owned (REO) Rental Policy, renters of homes acquired by Fannie Mae will be offered a new monthly lease at market-rate rent or if they desire, financial aid to help them move.

The properties must meet state and local building and safety codes.

Fannie Mae also said it… Continue

Added by Jason Donn on January 31, 2009 at 7:33pm — 1 Comment

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