Homeownership

Extra Tax On High-End Homes Likely
   Unless lawmakers approve new federal tax guidelines by Jan.1, an extra tax on the sale of high-end homes likely will take effect at the beginning of 2013. Bush era capital gains tax cuts expire in January, raising the long-term rate on profits made from real estate from 15% to 20%.
posted 11/2/12 11:04 AM  read complete story

Many HOEPA Changes Scorned
   Several real estate trade groups, with the Mortgage Bankers Association the most prominent, blanket the new Consumer Financial Protection Bureau (CFPB) with letters seeking changes to the proposed revamp of Home Ownership & Equity Protection Act (HOEPA) rules.
posted 9/14/12 12:59 PM  read complete story

Buying Beats Renting In Most States
   After a surge in rentals because of fallout from the toxic mortgage shakeout of the housing market, prospective homebuyers are learning that homeownership could be a better financial decision if buyers intend to live in a house for three years, says real estate analyst Zillow
posted 8/3/12 11:55 AM  read complete story

More Counseling Cuts Foreclosure Rates
   Pre- and post-homebuying counseling reduces foreclosures, according to two new HUD studies. The studies on pre-purchase and foreclosure prevention counseling support the department's belief that counseling is a vital tool in keeping neighborhood property values
posted 6/1/12 12:45 PM  read complete story

New Look At Owner-Occupied Foreclosures
   A long-standing stigma against buying foreclosed properties has waned as homebuyer interest in foreclosure acquisitions triple in the past two and a half years, Realtor.com says in a new report. Ninety-two percent of likely foreclosure buyers surveyed by the National
posted 6/1/12 11:14 AM  read complete story

FHA To Ease Condo Mortgage Rules
   Federal Housing Administration officials are preparing changes to the agency’s condominium rules that have left large numbers of condos ineligible for low downpayment insured mortgages. HAL sources say the changes likely will remove obstacles that have discouraged
posted 5/18/12 09:46 AM  read complete story

Homeowner Bill Of Rights Effort
   HUD Secretary Shaun Donovan says he supports a Homeowner Bill of Rights to help prevent future foreclosure abuses. The concept is part of legislation backed by California Attorney General Kamala Harris and Donovan gave his support while attending an economic development conference in Los Angeles.
posted 5/4/12 12:24 PM  read complete story

Homeownership At 15-Year Low
   New Census Bureau figures show the number of Americans owning homes has dropped to a level not seen since 1997. The rate peaked at 69.2% in 2004 at the height of the housing boom. The rate now is 65.4%.
posted 5/4/12 11:45 AM  read complete story

Buying Cheaper Than Renting In Many Areas
   Homebuying is more affordable in 98 of the nation’s 100 largest metropolitan areas says real estate firm Trulia. The company’s Rent v. Buy Index bases its findings on asking prices for rental units and homes on its website between Dec. 1, 2011 and Feb. 29.
posted 3/23/12 11:35 AM  read complete story

Revived Counseling Program Funded
   More than $42 million is distributed to 468 state and local groups to pay for counseling for prospective homebuyers and to help prevent foreclosures. The awards support assistance on how to avoid foreclosure and mortgage scams and to teach buyers how to purchase a home.
posted 3/19/12 3:53 PM  read complete story