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What is Foreclosure?
14 September 11 08:13 PM | Amos Elroy | 0 Comments   
What is Foreclosure? To different people it means different things, and I realize there is a lot of confusion about this topic even among Realtors. I am not an attorney, nore a finance guru, but as a residential real estate consultant with foreclosure Read More...
OCC Orders Largest Lenders to Review Foreclosure Processes
04 October 10 02:54 PM | Amos Elroy | 1 Comments   
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FHA Insurance Rates to Change Soon
16 August 10 11:09 AM | Amos Elroy | 1 Comments   
The Federal Housing Administration ( FHA ) has previously indicated it was going to change its insurance premium rates in September 2010. Now, due to concerns raised by the industry about readiness, the planned adjustments have been pushed up by a month. Read More...
Obama Administration Shifting Focus of Foreclosure Prevention to Local Level
05 August 10 10:15 AM | Amos Elroy | 1 Comments   
North & South Carolina, Oregon, Ohio, and Rohde Island are some of the hardest hit states regarding the housing market. The reason for it is mostly the high unemployment rates in these regions. To combat the foreclosure rates at these states, the Read More...
Bill Reversal? Tax Credit Closing Date Extension Approved in Senate After all!?
01 July 10 09:43 AM | Amos Elroy | 1 Comments   
In a stunning reversal of a vote from last week, striking down an extension of the deadline for home purchase closing date, Congress approved a three month extension to qualify for up t0 $8,000 in federal tax credits. Buyers who already have signed contracts Read More...
Home-Buyers' Tax Credit Extenssion Defeated by Republicans in Senate
28 June 10 09:55 AM | Amos Elroy | 1 Comments   
An amendment that was supposed to extend the closing deadline for the homebuyer tax credit by three months was defeated in Senate. Senate Majority Leader Democrat Harry Reid (D-Nevada) proposed the extension. While the amendment itself was approved by Read More...
NJ Home Buyer Tax Credit Legislation Approved by General Assembly for 2010!
25 May 10 11:08 AM | Amos Elroy | 1 Comments   
Tax credit on the local lever has been recently approved by NJ State legislature through bill A-1678/S-692. This bill established a NJ Home Buyer Tax Credit Program to credit home-buyers for purchases made within a one year span following the law enactment Read More...
News-Flash: FHA Will not Increase Downpayment
07 May 10 11:08 AM | Amos Elroy | 0 Comments   
Recently we have reported on the new FHA changes that raised the mortgage insurance rate to go from 1.75% to 2.25% in order to offset declining reserves caused by high default rates. We also noted that later this year the required minimum downpayment Read More...
Hoboen Rent Control Letter from Hudson County Taxpayer Association
14 April 10 01:52 PM | Amos Elroy | 0 Comments   
The following letter is a call to action by Hoboken property owners. Please feel free to forward the URL to friends and family in Hoboken. ------------------------------------------------------------------------- HUDSON COUNTY TAXPAYERS ASSOCIATION ROBERT Read More...
New HAFA Regulations Explained
12 April 10 03:45 PM | Amos Elroy | 0 Comments   
In the beginning of April 2010 the Obama administration has implementing new regulations regarding defaulted FHA backed mortgages. These changes are important for both buyers and sellers to note, as they have significant implications. In this article Read More...
NJ State Wide Open House Date Coming Up!
07 April 10 10:03 PM | Amos Elroy | 1 Comments   
Please call (888) 462-6573 to get a list of Hudson County open houses for the official state wide open house weekend (Apr. 10-11, 2010). Click on thumbnail on left to watch video Read More...
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New HUD Definitions for Forclosed Properties
05 April 10 03:06 PM | Amos Elroy | 1 Comments   
Effective immediately any properties that are at least 60 days behind on mortgage payment or 90 days late on tax payment will be now classified as a ‘foreclosed’ property. Previously HUD (Housing and Urban Development) defined only properties Read More...
What is Foreclosure?
08 March 10 10:11 PM | Amos Elroy | 0 Comments   
Though I am neither an attorney nor a mortgage broker, and I do not intend to offer any legal or financial advice, I find that there is a lot of confusion and misunderstanding of issues that revolve around foreclosures. I decided therefore to demystify Read More...
Closing Cost Assistance & Appliance Incentive for Fannie Mae REO Properties
03 March 10 09:09 PM | Amos Elroy | 0 Comments   
Fannie Mae is offers up to 3.5% incentive for purchases of a Fannie Mae owned REO (foreclosed) home. The incentive is provided either as a contribution towards closing costs, new Whirlpool® appliances purchased for the buyer by Fannie Mae, or a combination Read More...
How is my Neighborhood Doing? Real Estate Value in Hudson County
22 February 10 08:34 AM | Amos Elroy | 1 Comments   
The rise of Zillow in popularity, in my humble opinion, has everything to do with providing readily available information to the public at large, however reliable or unreliable that information is, it is most importantly accessible. Realtors used to be Read More...
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