Title Content Index - Page 1

A title is a document that proves that you own property such as a home or a car. When you have a car loan your lender will usually have the title until you pay off the loan. When you buy a home you'll buy title insurance to make sure your home's title is clear and there are no liens on it. The title insurance company will run a title search to find out. Learn about how to make changes to a title here as well.

One of the fees you pay when you buy a home is for title insurance. Title insurance assures the lender that you own the home free and clear, with no liens on it. When you buy title insurance a title company will run a title search to check public records for information on the home. Who pays for the title insurance varies by state - sometimes it's the buyer, sometimes the seller. Learn the ins and outs of title insurance here.

**Refinance Fees: How Much Is Too Much?** When you're refinancing your mortgage, how much should you be paying in refinance fees? It can be hard to tell what fees you're paying to the lender, what is prepaid interest, and what are the other costs of the loan. Refinance fees, especially for prepaid interest, can add up to the closing costs of refinancing your loan. Have your lender explain exactly what all the refinance fees are going toward before you make any decision about refinancing or canceling your refinance.

**8000 Tax Credit First Time Home Buyer Rules For Buying With A Partner** Can you qualify for the 8000 tax credit for first time home buyers if you are buying a house with a partner? if you're not married you can probably still claim the first time home buyer tax credit on your tax return, even if your partner doesn't qualify for the first time home buyer tax credit. Ask a tax professional for help to make sure you maximize the benefits of the 8000 tax credit for first time home buyers. Also, when buying with a partner, it's usually for the best to draw up a partnership agreement about how the home will be purchased.

**8000 Tax Credit First Time Home Buyer Requirements: Buying From A Relative** To qualify for the first time home buyer tax credit, you must follow the 8000 first time home buyer tax credit requirements. There are specific rules against buying a house or receiving a home as inheritance and qualifying for the 8000 first time home buyer tax credit. If you buy a house from a more distant relative's estate, that might allow you to qualify for the first time home buyer tax credit. Consult with your own attorney to make sure that you are following the 8000 first time home buyer tax credit requirements.

**HUD Revised Streamline Refinance Transactions** Streamline mortgage refinance applications will be undergoing some changes. Under the HUD revised streamline refinance, there are changes to the mortgage seasoning, payment history requirements, and verification of assets, employment and income. For a streamline refinance without an appraisal there will be a new maximum mortgage amount, and under the HUD revisions, there is is maximum combined loan-to-value amount for the streamline refinance. Read the full letter below for more details on the changes to HUD streamline refinance applications.

Ilyce Glink Show Notes - November 15, 2009. Today on the show, we discussed the new Fannie Mae Deed For Lease Program in Detail; the new CreditKarma Survey on credit card debt; The October 2009 Realty Trac Foreclosure survey; Divorce and Mortgages; Mike Rose, a senior loan officer with Bank of America, came on to talk about some of the new mortgage rules with regard to divorce and FHA; Peggy Abkemeier, President of Rent.com discussed a new survey of investment property owners. NEW EBOOKS ON INVESTING IN REAL ESTATE; EBOOK SPECIAL.

**Short Sale vs Foreclosure: Which One Can You Get To Close Faster** When you are out shopping for a home are you better off looking for a seller doing a short sale or buying a home that has been foreclosed on by the bank. In a short sale you will deal with the owner of the home but will be at the mercy of the bank but in a foreclosure, you will be dealing directly with the bank trying to sell the home in the open market.

HUD Secretary Donovan and FHA Commissioner Stevens briefed leaders on the FHA's financial outlook today, in coordination with the release of its annual independent actuarial study. The study found the capital reserve ratio to be 0.53 percent of total insurance in force this year, well below the congressionally mandated threshold of two percent. The FHA holds $31 billion in total reserves today. Robert Ryan was introduced as the FHA's first-ever Chief Risk Officer. Ryan will focus on understanding risk to the FHA's insurance fund and develop policy responses that address that risk.

FHA cash reserves fall to the lowest level in history, below the congressionally mandated level. The Federal Housing Administration's mortgage insurance cash reserves fell to the lowest levels in recorded history, 0.53 percent. The FHA announced today FHA cash reserve levels have fallen below the congressionally mandated threshold. The annual independent accounting survey of the FHA came with the assessment that additional action needed to be taken to manage risk to prevent further losses.

Ilyce Glink Show Notes - November 8, 2009. Big news week: $8,000 first time home buyer tax credit was expanded to include trade-up buyers, and extended until June 30, 2010; Unemployment numbers are out and awful: Nationally, unemployment rose to 10.2 percent, 17.5 percent if you include a broader measure of unemployment; Fannie Mae introduced its Deed For Lease program; Five more banks closed, bringing the total for the year to 120; the House passed health care reform. NEW EBOOKS ON INVESTING IN REAL ESTATE ARE AVAILABLE; Get your FREE books and Ebook deal.

**Fannie Mae Deed For Lease Program Rules.** Fannie Mae announced an innovative program designed to help homeowners avoid foreclosure. Called Deed for Lease, the program allows struggling homeowners who are unable to qualify for a loan modification under the current Obama Loan Modification Plan to hand their keys over to Fannie Mae, but then rent back their house at current market rental rates. Here are the Deed for Lease program rules.