RAMB Member Blogs
RESPA Rules Limit Fee Increases at Home Closing
A revamped good faith estimate and HUD-1 settlement form mean fewer last-minute surprises at closing because of limits on fee increases.
Homeowners in the market to refinance a mortgage or take out an equity loan, as well as homebuyers looking for purchase financing, should benefit from improved RESPA disclosure rules.
Drawbacks of Home Equity Loans
Taking out a home equity loan against the value of your property can backfire if you fail to avoid these common pitfalls in the borrowing process.
When you need a quick source of funds, a home equity loan can be tempting. Done wisely, you can use the lower-interest debt secured by your house to pay off debts with high interest rates, like credit cards. It's also a good choice if you know exactly how much you need to borrow for a big expenditure like a vacation home or a new kitchen.
Where Are The Buyers Coming?
According to the NY Times, "Florida remains the top state for international transactions. The Sunshine State represents nearly one in four of all international sales in the United States in 2008."
• Canadians accounted for 26 percent of the state's recent international sales.
• British buyers accounted for 16 percent.
• The rest of Western Europe accounted for 22 percent.
• A large number of buyers also come from South America and other parts of Latin America.
Tax Credits for Replacing Heating and Cooling Systems
Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit worth as much as $1,500.
New Treasury Department Rule regarding Short Sale Become Effective April 5th
Last Friday, The Philadelphia Inquirer reported on the New Treasury Dept "Home Affordable Foreclosure Alternative" program that will run thru 12/31/2012. Here is a summary of the highlights:
- Within 30 days of theborrower being ruled ineligable for mortgage modification or unable to sustain payments under the trial plan, the lender must offer a short sale option in writing to the borrower.
- Borrowers may receive up to $1500 to assist them with relocation costs
Appeal Your Property Tax Bill
To successfully appeal your property tax bill, you first need to do a bit of sleuthing into your real estate assessment.
Owning a home is an expensive proposition. There's maintenance, landscaping, utilities, renovations, and, of course, taxes. It's your civic duty to pay the latter, but it's also your right not to yield a penny more than your fair share.
Tax Tips for Homeowners Looking Ahead to 2010 Returns
From energy tax credits to vacation home deductions, check out these tax tips for homeowners looking ahead to 2010 returns.
Tax planning for homeowners should start well in advance of the April 15 filing deadline each year. If you delay until the last minute, it might be too late to maximize tax credits and tax deductions. These tax tips for homeowners looking ahead to 2010 returns explain some of the things you can do now that'll pay off later on your 1040.
What seller Want?
What seller Want?
-Constant communication What’s happening How are you doing?
-Inspection Expectations Has it been done? What will you do now?
-Problem Solving What do we need to do now? How can this get done?
-Contract to Close Tracking What is our progress? What’s next?
Tax Tips for Homeowners Preparing 2009 Returns
Follow these tax tips for homeowners to ensure that you receive all of the tax deductions and tax credits to which you're entitled.
You've heard it before: Your home is probably the biggest investment you'll ever make. It's also probably the biggest tax write-off you'll ever have. Follow these tax tips for homeowners to ensure that you receive all of the tax deductions and tax credits to which you're entitled for the 2009 tax year.
New FHA Rules for Buyers Become Effective
As reported in the March issue of Realtor® magazine, the Industry publication from the National Association of Realtors®, the New FHA guidlines taking effect this year may present challenges for buyers, but are ultimately designed to "shore up the FHA's capital reserves and do a better job of managing risk".
The minimun downpayment was raised last year from 3% to 3.5%, but there are other changes this year as well:
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