The advance fee ban under the FTC’s Mortgage Assistance Relief Services (MARS) Rule, designed to protect financially distressed homeowners from mortgage relief scams has gone into effect.
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The advance fee ban under the FTC’s Mortgage Assistance Relief Services (MARS) Rule, designed to protect financially distressed homeowners from mortgage relief scams has gone into effect. May 9, 2010 (AP Photo/Patrick Semansky) Last Sunday’s 60 minutes featured a piece addressing the estimated 1 million families who had defaulted on their home loans and walking away in 2009, although they could have afforded to stay. The practice of abandoning homes that are “under water” can be easily justified in financial terms, particularly [...] The president has signed an extension of the first-time home buyer tax credit of up to $8000. Probably the last extension of this assistance, to take advantage of this tax deal, you must have the contract in place before May 1, 2010, with a closed deal before July 1, 2010. The extension includes a new benefit [...] There are three phases of a foreclosure; pre-foreclosure/short sale, auction, and REO (real estate owned). In this article we will discuss the phases of a foreclosure and when, during the process, is the best time to make your foreclosure investment… Federal Housing Administration Commissioner Dave Stevens reports mortgage servicers have extended approx. 571,000 loan modification offers through August, up from about 400,000 reported through July. About 360,000 modification offers are in a 90-day trial period prior to being made permanent modifications. This site contains a compilation of information regarding Buying – Owning and Selling Real Estate, with an emphasis on the unique requirements of Condominiums. |
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