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January 23, 2010

First Time Home Buyer Programs

First time home buyer programs provide mortgage assistance and new home buyer tax credits to eligible applicants. Many programs exist for first time home buyers, so it is important to conduct research or consult with a mortgage advisor to determine which programs offer the best incentives and tax breaks.

One of the most prevalent first time home buyer programs is the American Recovery and Reinvestment Act of 2009 which expanded first time home buyers tax credit to $8,000 for housing purchases made prior to December 1, 2009. The first time home owner tax credit was later extended by the Worker, Homeownership and Business Assistance Act of 2009 to individuals who close the home purchase before July 1, 2010.

Real Estate Investing article on "First Time Home Buyer Programs"

January 01, 2010

Mortgage Foreclosure

Mortgage foreclosure rates continue to rise in spite of President Obama's mortgage relief plan. Anticipated mortgage foreclosure statistics project an additional 9 million homeowner's will lose their homes to foreclosure by 2012.

The increase in mortgage foreclosure rates originated with predatory lending practices. Many borrowers obtained 'no money down' subprime loans. When the banking crisis occurred and real estate prices fell, many borrowers were left owing more on their home mortgage loan than the appraised property value.

Real Estate Investing article on "Mortgage Foreclosure"

August 28, 2009

Home Mortgage

Obtaining a home mortgage loan today is considerably more difficult than a few years ago. Unfortunately, too many people were approved for mortgage loans that weren't financially qualified to repay the debt. The end result is the massive amount of foreclosures sitting abandoned all across the country.

Today, borrowers seeking a home mortgage through traditional lenders must have nearly perfect credit, along with a strong history of paying debts on time and a solid work history. While this can be frustrating for people with less than perfect credit, alternative options exist for buying a home.

Real Estate Investing article on "Home Mortgage"