Senate OK’s New Tax Credit Closing Deadline

June 17, 2010 by · Leave a Comment 

You may have seen today’s Inman News article reporting on the Senate’s approval of an amendment to a bill that would, among other things, provide for an extension of the June 30 closing deadline for buyers who took advantage of the federal government’s tax credit. While the Senate has approved its version, differences with the [...]

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Don’t Foreclose! Do A Short Sale

April 3, 2010 by · Leave a Comment 

Don’t foreclose! Do a short sale Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks, when the government starts handing out cash to encourage lenders to close these deals. “Banks have ramped up short sale approvals,” said Duane Legate of House [...]

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Lenders And Short Sales – Are They Hampering The Rebound Of The Housing Market?

June 26, 2009 by · Leave a Comment 

Currently in our market (Ocean City, Maryland and Worcester County), there are 78 pending “short sale” transactions as reported to our local Multiple Listing Service.  I have 2 short sale situations that have been pending since 3/30/09 and 4/1/09 respectfully, with no response back from either lender. Is the time it is taking to process [...]

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