Today on the Ilyce Glink Show - May 31, 2009
Today on the Ilyce Glink show, Ilyce talked about HUD Secretary Shaun Donovan's announcement this week that first-time buyers would be able to use their $8,000 tax credit to offset some FHA loan program costs and then put the rest toward a larger down payment - after coming up with the initial 3.5…
New Guidance from HUD: Use $8,000 tax credit toward FHA loan costs
Existing Home Sales Rise 2.9 Percent From March
It's funny. This morning I went to check the Web site of the National Association of Realtors for the latest numbers for existing home sales and they hadn't been posted yet. Then after I finished the other two blogs just now, it magically appeared. Anyway...
Existing home sales increased 2.9 percent…
Economists Predict Recession End Soon, But Recovery Slow
The National Association of Business Economists are feeling similarly to the consumers polled by the Conference Board in May - that is optimistic. NABE released a survey today that states that its economists expect the recession to end soon, with a moderate recovery pace.
On the other hand, NABE's…
More Mortgage Applications Processed As Rates Rise Slightly
Mortgage interest rates rose slightly last week for 30-year fixed rate mortgages and one year adjustable rate mortgages, announced the Mortgage Bankers Association today. But they're still relatively low.
Yesterday I blogged how falling home values makes buying a home more affordable for first time…
Home Prices Decline 19 Percent In First Quarter 2009
I remember sitting in an economics reporting seminar in grad school three years ago and many of us lamenting that we would not be able to buy homes, not with having to repay student loan debt too. Ever since the bursting of the housing bubble I'm feeling more hopeful. And today's S&P Case Shiller…
Georgia Joins The Ranks of States Offering Homebuyer Tax Credits
$8,000 Tax Credit-Downpayment Relief: Treasury Department Giveth and Taketh Away
Last week, the Treasury Dept. announced a new plan to allow first time buyers (and those who haven't owned a home in the past 3 years) the opportunity to use the $8,000 tax credit as a down payment for the purchase of the property. The way this would be handled would be with a bridge loan until the…
State Home Buying Incentives You Can Bank On
By now you should have heard about the $8,000 federal tax credit for first time home buyers, including those who haven't owned a home in the last three years.
Many states now offer state-level programs as well. Here's some information on them:
California - New-Home Buyer Tax Credit $10,000 or 5…
Horrifying Foreclosure Numbers in April
Clearly, the foreclosure numbers for April, 2009 are horrifying. There are so many people who are receiving foreclosure notices or who are turning over their house keys to their lender in a deed-in-lieu of foreclosure transaction. The top 10 states for foreclosure (California, Nevada, Arizona…
