Posts Tagged ‘Arizona Short Sales’

Federal Tax Credits for Consumer Energy Efficiency

If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit.

Click below to find an overview of the federal tax credits for energy efficiency.

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

Properly installed energy efficient improvements deliver better protection against cold, heat, drafts, moisture, pollution, and noise. An energy-efficient home helps ensure consistent temperatures between and across rooms, improved indoor air quality, and greater durability.

White House tries to spur mortgage relief plan

Nov . 30, 2009 Article from the Associated Press:

“WASHINGTON – Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren’t doing enough to help borrowers at risk of losing their homes.

Treasury Department officials said Monday they will step up pressure on the 71 companies participating in the government’s $75 billion effort to stem the foreclosure crisis. The will start this week by sending three person “SWAT teams” to monitor the eight largest companies’ work and requesting twice-daily reports on their progress.”

Read Full Article:

http://www.msnbc.msn.com/id/34204856/ns/business-real_estate/

Government Announces Short Sales Guidelines

Chances are, you or someone you know in Tempe, Scottsdale or Phoenix is facing the possibility of foreclosure. But you need to understand that you are not alone.

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it’s important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

Through my experience handling distressed properties, I’ve found that homeowners today have more questions than answers about their circumstances. I have created this site to help you understand the possible solutions to foreclosure, as well as provide a detailed explanation of short sales, which may be the best course of action for some homeowners.

For more information and expert advice visit:

www.myazshortsaleexpert.com

Also, the Government Announced new Short Sale Guidelines:

The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly.

To qualify under these new guidelines:

  • The property must be the home owner’s principal residence.
  • The home owner must be delinquent on the mortgage or close to defaulting.
  • The loan must have been made before Jan. 1, 2009, and be for less than $729,750.
  • The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.

Click here to get the full story: http://www.realtor.org/RMODaily.nsf/pages/News2009120201?OpenDocument

Rates on 30-year loans match record low

The average rate on a 30-year fixed mortgage is 4.78 percent

30-year fixed mortgage rates chart
 
Nov . 25, 2009

According to MSNBC News:

“Average rates for 30-year fixed mortgages fell this week, matching a record low set last spring and more than a full percentage point below what they were a year ago, Freddie Mac said Wednesday.

Rates for 30-year mortgages averaged 4.78 percent this week, down from 4.83 percent last week and equaling the record low reached the week of April 30.

Freddie Mac has been tracking rates on 30-year fixed mortgages since 1971. Last year at this time, the 30-year fixed rate mortgage averaged 5.97 percent.”

http://www.msnbc.msn.com/id/7148582/ns/business-personal_finance/