Home buyers who buy during the dry season can be in for an unpleasant surprise when the roof leaks or the basement floods after the first rain. Who is responsible for damage caused by water intrusion and for making the necessary repairs to prevent it from happening again? It’s possible that you are responsible if …
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For homeowners who are upside-down on their mortgage — owing more on the loan than the house is worth — foreclosure isn’t necessarily the only option.There’s also a short sale. A short sale is when a financially troubled homeowner, with the lender’s approval, sells his or her home for less than what’s owed on the …
Processing delays have taken their toll on first-time homebuyer interest in short sales, according to the latest HousingPulse Tracking Survey released by Campbell Surveys and Inside Mortgage Finance Monday. First-time homebuyers were a part of 39.7 percent of the short sale transactions completed in August, the HousingPulse survey found. That tally marks a three-month slide …
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In what Standard & Poor’s analysts described as a “welcome shift from recent months,” the closely watched S&P/Case-Shiller index showed its strongest positive movement since June of last year with the release of Tuesday’s report. The 20-city composite reading posted a 0.7 percent increase in April versus March. The 10-city composite was up 0.8 percent. …
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