According to the U.S. Treasury mortgage payments have been modified and fewer individuals would face foreclosure proceedings. Reports show that at the end of January: • At the end of January, 947,000 households had received a deduction in their mortgage payments through HAMP. • 3% of 1.7 million households are eligible for HAMP. • 116,297 […]
JohnHart Real Estate
Contributor, designer & admin for JohnHart Gazette.
Top Five Most Expensive Homes of 2009
Last year the real estate market did not have the most prosperous year.
What to Look Out For When Filing Your Taxes
First-time home owners • What are points? o Fees paid to your lender when applying for a mortgage or loan. o If paid up front, can be tax deductible o Only tax deductible if the loan is for the purposes of purchasing or improving your personal property. Investment properties will not qualify.
Eddie Murphy’s Mansion
The actor has starred in movies like The Nutty Professor, Beverly Hills Cop and Shrek, to name a few. He has listed his house for sale and so far has had no luck selling the property.
Fewer Foreclosures for January
With individuals not being able to pay their mortgages, lenders step in and foreclose on their homes. Statistics • 315,716 homes were in the foreclosure process last month • 1 in every 409 U.S homes sold last month, is facing foreclosure possibilities. • 31% increase in foreclosures from January 2009 • 12% less default notices […]
Pricey Home Sales Down For 2009
Properties that pass the one million dollar mark are seeing a decrease in sales. There has been a decline in sales for the past four years. About 18,621 homes over the million dollar mark were sold last year and 24,436 were sold in 2008. In 2005 a total of 54,773 homes priced over a million […]
Mortgage Rates
Every week in January we saw a gradual decline in the mortgage rates. The first week of February broke the cycle. The first week of January we started with an interest rate of 5.09% for a 30 year fixed and 4.50% for a 15 year fixed. Three weeks later the rate for a 30 year […]
Fannie Mae and Freddie Mac
As long as the government is in control of Fannie Mae and Freddie Mac, they will not be able to introduce any new loan products. Fannie and Freddie were working on new loan products that would have to pass through the federal regulator of the company. On Tuesday the federal regulator had denied introduction of […]
S&P/Case-Shiller Index
S&P/Case-Shiller Index shows that home sales in November increased about 0.2% compared to the rates in October. A year ago, November, 2008 the index was down to 5.3%.
Down-Payment Standards Eased
As down-payment requirements are reduced, the opportunity for lending becomes more available and will allow the market to prosper. Some states have lowered their standards of how much of the property amount may be borrowed. Now, consumers can make a down-payment of only 5% and borrow the remaining amount of the property. The reduction in […]