The Ingham County Board of Commissioners in Michigan approved up to ,000 in Legal Aid funding to represent borrowers affected by allegedly improper foreclosures and possible documentation fraud. The county's Register of Deeds Curtis Hertel Jr. uncovered potential fraudulent documents in his office calling into question hundreds of foreclosures. Hertel told HousingWire Wednesday he...
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Michigan county approves funding to help homeowners fight MERS, DocX cases
More homeowners paying cash in effort to deleverage
Cash was the top source of financing home purchases in September, as more homeowners look to deleverage their debt. According to a recent Campbell/Inside Mortgage Finance survey, 30.5% of home purchases during the month were financed with cash, up from 24.4% in January. The survey attributed this jump to the amount of distressed properties...
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MGIC extends 97% LTV mortgage insurance to existing homeowners
MGIC Investment Corp. (MTG: 9.21 -5.05%) will insure 97% loan-to-value ratio mortgages for existing homebuyers effective Nov. 1. The mortgage insurer currently insures such loans for first-time homebuyers only. Qualifying mortgages are written in non-restricted markets and hold a maximum loan amount of 7,000. The buyers must have a minimum credit score of 700....
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What bill did George Bush sign about helping homeowners with short sales avoid a 1099?
Question by gpaltrow2001: What bill did George Bush sign about helping homeowners with short sales avoid a 1099? A few weeks ago I heard about President Bush signing something to help homeowners avoid paying taxes on their short sales. Banks would issue a 1099 when a short sale was approved, and be taxed on...
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Short Sales Help Financially Strapped Homeowners
Short Sales Help Financially Strapped Homeowners Whether a homeowner is on the brink of foreclosure or just looking for a deal on a house, prospective buyers may want to familiarize themselves with the term short-sale. Read more on WSMV Nashville Suzy explains the past tax consequenses of a short sale and how the new...
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Former homeowners hoping to buy again after a foreclosure or short sale
Former homeowners hoping to buy again after a foreclosure or short sale TUCSON – After a foreclosure or a short sale, some people might never want to bother with another home purchase. On the other hand, lenders are hearing from more and more former homeowners who can’t wait for the next opportunity to buy....
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