March 2010

Found 3 blog entries for March 2010.

By Eve Mitchell

RISMEDIA, March 27, 2010(MCT)The word as-is can indeed be one scary phrase. Especially when buying a home in today's market where foreclosures and short sales that need fix-up work are plentiful.

But a little-known Federal Housing Administration (FHA) loan program that's been around since 1978 can help take the sting out of as-is. Only 219 borrowers took advantage of the FHA's 203k program in 2009. Not that many lending and real estate professionals are aware of the program, say observers.

Last year, Tom Meyer found a classic Oakland, Calif., home built in 1925 near Mills College he liked a lot. As a short sale it was priced right and about half the original asking price. Trouble was, the place needed some fix-up workfoundation

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By Tom Petruno

RISMEDIA, March 18, 2010(MCT)Steady as it goes, Federal Reserve policymakers recently declared in their post-meeting statement. They left their benchmark short-term interest rate unchanged in the range of zero to 0.25% and once again pledged to keep it low for an extended periodretaining the phrase they've used for the past year.

The central bank continued to sound relatively upbeat about the economy, saying the data it looks at suggest that economic activity has continued to strengthen and that the labor market is stabilizing.

The Federal Reserve also said it would end, on schedule, its program of buying mortgage-backed bonds to help keep home loan rates low. That program will conclude at the end of this month when the Federal

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RISMEDIA, March 5, 2010The National Association of Home Builders (NAHB) wants potential home buyers to be aware that they still have the opportunity to take advantage of the $8,000 first-time home buyer or $6,500 repeat buyer tax credits, as long as they act quicklythe credits expire on April 30, 2010.

It's not too late to take advantage of the home buyer tax credit, said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. There are plenty of existing homes on the market, and even though the move-in ready newly constructed homes inventory has dwindled, builders may still be able finish a home in time.

The IRS provides an additional two months beyond the deadline to close the deal. Buyers who sign a sales contract by the

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