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Home Buyer Tax Credit The House overwhelmingly passed a bill Tuesday to extend the deadline for the homebuyer tax credit. The Senate would now have to vote on the legislation. Hopefully that happens today. I will keep you posted.

Important Announcement – Borrowers may not be able to get Flood Insurance after 5/31!! At the end of March we all went through an unpleasant time because Congress did not renew the National Flood Insurance Program (NFIP). They did renew the NFIP in the middle of April but that is only good until May(more…)

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Fannie Adds Incentive to Avoid Foreclosure Beginning in July, Fannie Mae will allow financially troubled home owners to complete a “deed in lieu of foreclosure” or a short sale and be eligible to apply for a new Fannie-backed mortgage in two years. Currently, borrowers who have(more…)

Distressed Property Trends Monthly Market Activity Report from PRO Along with the very active March market overall, distressed property sales and contracts also experienced a big jump. 43.5% of all unit sales involved some kind of distressed property. 68.4% of all contracts written were on distressed properties. The number(more…)