Real Estate Investment Articles - Page 1

**Qualifying For a Mortgage Loan Stricter For Home Equity Lines Of Credit** Today, bank requirements for a loan are stricter for new home equity lines of credit than they were just a few years ago. Banks and lenders are tightening the requirements for home equity lines of credit and other personal lines of credit to make sure their funds are safe. Now, banks might require higher credit scores, more equity in your home, and other strict requirements before they will give you a line of credit. However, if you shop around, you may be able to find a bank willing to give you a home equity line of credit.

**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.

**Investment Property Short Sale Generates Phantom Income** When an investment property is sold as a short sale, it generates what is known as "phantom income." The IRS looks at the difference between what the property is worth and what your sold it for in the short sale as income. You should receive a 1099 for the phantom income generated by the short sale of the investment property.

**Loan Modification Help: Get Some Answers From The Bank CEO** Are you in loan modification hell? Like thousands of other people, this reader has filed for a loan modification, but can't get any answers about the future of his loan modification from his lender. The banks are swamped with loan modifications and foreclosures right now, but you deserve answers about the future of your loan, too. If you're not getting anywhere by calling customer services lines and other options, try using the format below to document your loan modification situation and get some answers from the bank CEO.

**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.

Majority of property owners experiencing higher vacancy rates. Seventy percent of property owners are experiencing higher vacancy rates this year. The vacancy rate has been above 10 percent since June 2009. A recent Rent.com survey looks at how property owners are coping with these trends and encouraging tenants to stay or move to their units.

Property owners are finding creative ways to fill vacancies during the recession. Over 70 percent of property owners have experienced higher vacancy rates over the past year. Recent vacancies are primarily a result of job loss and tenants trying to save money on rent by moving to a cheaper unit or doubling-up with roommates. Property owners are modifying credit policies to fill units during the recession. Owners are also lowering rent, relaxing pet policies and offering unit upgrades. Read the full press release below from Rent.com.

Winterize Your Home And Get a Tax Credit. The IRS has advised taxpayers that the Expanded Recovery Act Tax Credit will help homeowners winterize their homes so they can save energy and save money at the same time. But the IRS cautions homeowners to check the tax credit certification before they buy winterizing tools.

**Loan Modification Help: Why Lenders Are Slow To Provide Loan Modifications** Millions of Americans have applied with their banks to obtain a loan modification. They desperately need loan modification help. The loan modification process is taking an extremely long time. Now homeowners want to know how they can get a loan modification -- whether under the Obama Making Home Affordable Plan or not -- and why the lenders are slow to provide loan modifications. A new study is revealing some answers.

**$8,000 First Time Home Buyer Tax Credit And Living Abroad** The first time home buyer has restrictions on income. The first time home buyer tax credit requires you to live in the home for 3 years. Also, you can't have owned a home for the last 36 months. In addition, the first time home buyer tax credit has restrictions on who can sell you the home. There are even restrictions on whether you can qualify for the $8,000 first time home buyer tax credit if you live abroad and want to buy a home and rent it. But really. If you plan on renting the home, you won't be a first time home buyer making use of the home as your primary residence.