Charleston Real Estate Law Blog » Real Estate News

Home Buyer Tax Credit Extended!

Russ DeMott — Fri, 02 Jul 2010 20:53:32 +0000

Congress has extended the home buyer tax credit to September 30th for those home buyers who signed contracts by April 30 of this year. The Senate unanimously passed the bill, and there was almost no opposition in the House. The president is expected to sign the bill shortly. Once enacted into law, this means that home buyers will have through September 30th to close their home purchases.

Have a Happy and safe July 4th weekend!

–Russ DeMott

Mortgage Modification Programs (Useful Program Links)

Russ DeMott — Mon, 04 May 2009 18:41:23 +0000

Here’s a link to the National Consumer Law Center website which lists current loan modification programs. NCLC is a top notch group, and I subscribe to their publications. The website, in turn, has links to all program websites. http://www.consumerlaw.org/issues/financial_distress/loan_modification.shtml

–Russ DeMott

Mortgage Modification Article from The Nation (“More Mortgage Madness”)

Russ DeMott — Sat, 02 May 2009 16:36:47 +0000

This article is fascinating and explains why mortgage modification is so difficult. It also illustrates the need for the Bankruptcy Code to provide for “cram down” of mortgages to the value of the home. As counsel for Ocwen states, modification is actually good for lenders. Far less costly than foreclosure. But the system is engineered for failure.

-Russ DeMott

http://www.thenation.com/doc/20090518/wright