Posts Tagged Loan Modification

Trump Changes The Housing Market

President-elect, Donald Trump has caused such a stir since election night all many fronts. No matter your thoughts on the newly elected commander and chief, he might have a HUGE effect on the housing market. Trump is promising to raise the national GDP by 3.5% to 4%. If this is true, it will create thousands of new jobs for people with families who will be in the market for new homes. Florida is in line to benefit tremendously if that happens. Either way, experts do not foresee any negative impacts a Trump presidency will have on the housing market. In

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Loan Modification Programs Help Struggling Homeowners

To assist those willing to stay in their home and who are able to pay their mortgage, the Federal Housing Administration passed HARP, the Home Affordable Refinance Program. If the homeowner is current on their Fannie Mae or Freddie Mac mortgage, the borrower could refinance the loan at a lower interest rate under this program.To assist those willing to stay in their home and who are able to pay their mortgage, the Federal Housing Administration passed HARP, the Home Affordable Refinance Program. If the homeowner is current on their Fannie Mae or Freddie Mac mortgage, the borrower could refinance the loan at a lower interest rate under this program.

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The Short Sale Process Explained

Despite recent upticks in the South Florida housing market, many homeowners who purchased property at the peak of the real estate market find themselves underwater in their mortgage. Although the prognosis for the market is good and we are seeing positive growth, the possibility of housing values returning to levels seen before the housing bubble burst may be a long way off.Despite recent upticks in the South Florida housing market, many homeowners who purchased property at the peak of the real estate market find themselves underwater in their mortgage. Although the prognosis for the market is good and we are seeing positive growth, the possibility of housing values returning to levels seen before the housing bubble burst may be a long way off.

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Are South Florida’s Short Sales declining?

Although the housing market is starting to see a slow recovery, homeowners who are still underwater on their mortgages will still have to wait a very long time, if ever, to see the value of their home return to what they paid for it. Therefore, these homeowners continue to remain current on their mortgage, but may want to upgrade their house or may need to relocate.Although the housing market is starting to see a slow recovery, homeowners who are still underwater on their mortgages will still have to wait a very long time, if ever, to see the value of their home return to what they paid for it. Therefore, these homeowners continue to remain current on their mortgage, but may want to upgrade their house or may need to relocate.

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Short Sale Homeowner Receive Tax Relief For Three More Years: Mortgage Forgiveness Debt Relief Act Explained

Homeowners who are victims of the burst housing bubble found a solution to their plummeting home values and their underwater mortgages in the popular trend of short sale transactions. This act of allowing the lender to accept the sale of the home for less than is owed, and forgiving the homeowner for the balance of the mortgage seemed like a viable alternative to a foreclosure. Homeowners who are victims of the burst housing bubble found a solution to their plummeting home values and their underwater mortgages in the popular trend of short sale transactions. This act of allowing the lender to accept the sale of the home for less than is owed, and forgiving the homeowner for the balance of the mortgage seemed like a viable alternative to a foreclosure.

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