Buying – Selling – Renting? Review Your Preparations NOW

Buying - Selling - Renting?  Review Your Preparations NOW I encourage you if you are considering buying, selling or renting in the next six months or so to call me now (301-452-1409) as the predictions are the real estate market will be more robust in the first half of 2014.    If you are selling, my Homeseller's Handbook provides … Continue reading Buying – Selling – Renting? Review Your Preparations NOW

Maryland Mortgage Interest Deduction Preserved

Maryland Mortgage Interest Deduction Preserved Earlier this month, I and my Realtor colleagues worked hard to defeat the proposed current Budget Reconciliation and Financing Act of 2012 (BRFA, HB 87/SB 152). Under it, Maryland would reduce itemized tax deductions, including the Mortgage Interest Deduction -- the most important tax benefit that homeowners receive. The provision … Continue reading Maryland Mortgage Interest Deduction Preserved

Major FHA Changes Expected to Take Place in Early 2010

Mortgage Insurance Premium, Credit Scores, and Seller Contribution Affected On January 20, 2010, FHA announced major changes to ensure its long-term financial soundness. FHA is trying to balance three fundamental objectives: Financial soundness of the FHA insurance fund – ensuring that its capital ratio returns above 2 percent, Fulfilling its mission of serving borrowers not … Continue reading Major FHA Changes Expected to Take Place in Early 2010

New Good Faith Estimates, HUD-1 Form Provide Benefits to Borrowers

New RESPA Regulations, HUD-1 Effective January 1, 2010 Changes under the Real Estate Settlement Procedures Act provide some improvements to borrowers, making it easier to compare loan terms and committing lenders to stick with their quoted fees. The new Good Faith Estimate (GFE) will be uniformly used by all lenders so that borrowers will be … Continue reading New Good Faith Estimates, HUD-1 Form Provide Benefits to Borrowers

2009-2010 Home Buyer Tax Credit Summary

Current Program Extended and Revised; Expanded to Repeat Home Buyers Despite the many rumors, projections, and hopeful expectations presented in the press in very recent weeks, the final legislation for the tax credit afforded home purchasers has several new features and requirements that distinguish this program from the one which is due to expire November … Continue reading 2009-2010 Home Buyer Tax Credit Summary