http://www.therealestateadviser.com #1 Resource for all of your real estate investing needs in North Eastern Pennsylvania and South Carolina Sat, 28 Nov 2009 01:41:16 +0000 http://backend.userland.com/rss092 en According to the Congressional Oversight Committee (COP), unemployment is presently driving a fifth wave of foreclosures, but analysts at Amherst Securities say that negative equity is far more predictive of home loan defaults than unemployment. The question is critical, because the policy response depends on the answer: if coming defaults ... http://www.therealestateadviser.com/104/underwater-mortgages-cause-defaults-not-unemployment/ One of the major myths surrounding short sales is that a property with a junior lien or second mortgage is simply off-limits. While many investors or agents that deal in large numbers of short sale properties may move beyond the headache and hassle associated with junior liens and second mortgages, ... http://www.therealestateadviser.com/101/dealing-with-junior-liens-second-mortgages/ Senate Democrats are close to compromising on a provision that would extend the first-time homebuyer tax credit, according to Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.. In fact, the Senate will extend the $8000 tax credit for first-time homebuyers until April 2010, with a separate $6,500 ... http://www.therealestateadviser.com/98/will-the-homebuyer-credit-be-extended/ Ok, we knew it would happen, right?  We all love the tax credit – if only the government didn’t have to be the one administering it.  The Treasury Inspector General for Tax Administration (TIGTA) believes the Internal Revenue Service (IRS) may have paid out millions of dollars in first-time homebuyer ... http://www.therealestateadviser.com/95/irs-gives-homebuyer-tax-credit-to-aliens-and-minors/ Blackrock Inc. Chairman Laurence Fink claims that Obama administration programs to help homeowners stave off foreclosure may hinder the recovery of the mortgage market while benefiting banks that own second loans on the properties.  Fink said policies introduced this year to reduce foreclosures are flawed because they don't require home-equity ... http://www.therealestateadviser.com/92/obama-programs-hurting-recovery-helping-banks/ According to projections from residential mortgage insurance and credit enhancement product provider The PMI Group (PMI), national homes sales are expected to rise 10% year-over-year basis during the Q409, but the sharp drop in sales earlier in 2009 will keep yearly sales on par with ‘08 levels.  The report projects ... http://www.therealestateadviser.com/89/home-sales-to-rise/ Yesterday I mentioned an “urging” by the Federal Deposit Insurance Corporation (FDIC) directed at its loss-share partner institutions to consider temporary mortgage payment reductions for unemployed borrowers.  A spokesman for the FDIC offered further clarification: “Servicers may provide the borrower with at least six months of payment relief…The term [of] ... http://www.therealestateadviser.com/87/fdic-details-mortgage-payment-reductions/ Tens of thousands of homeowners who were hoping for lower payments are discovering that lenders roll late fees, back taxes or other costs into the principal, sometimes turning a difficult payment into an impossible one.  That’s one reason many reworked mortgages are sliding back into default.  Monthly payments, on loans ... http://www.therealestateadviser.com/84/modified-mortgages-still-defaulting/ By David Kovaleski The Poconos of North East Pennsylvania present a fantastic opportunity for home buyers. Whether you’re real estate needs are for full time residence or for a vacation home the area delivers. The Pocono Mountains bring some of the most sought after recreational and amenity based living in the east. ... http://www.therealestateadviser.com/79/real-estate-and-homes-pocono-communities/ If you just can’t get enough of cool online applications then you will love today’s selection. Get ready to bookmark or save these to your favorite list because they are as useful as they are trendy….not to mention each can save you time or money while you are off building ... http://www.therealestateadviser.com/76/cool-online-mobile-real-estate-tools/