NAR Data Points to Recovery, but How Long Will It Last?

The take on the state of the housing market, according to Capital Economics, is that the U.S. is currently in recovery mode. Although other reports may contend the bottom is yet to be reached, the research firm points to increasing home sales and the drop in excess supply, which leads to price gains, as reasons …

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Lenders’ Risk Managers Expect Mortgage Delinquencies to Drop

FICO’s quarterly survey of bank risk professionals found a reversal in the sentiment of U.S. lenders, with expectations for loan repayments more upbeat in the first quarter of 2012 than they had been during the previous quarter. The survey, conducted for Minneapolis-based FICO by the Professional Risk Managers’ International Association (PRMIA), found fewer lenders anticipating …

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CoreLogic: Number of Completed Foreclosures Down for February

The number of completed foreclosures in February 2012 was down on a monthly basis and slightly on a year-over-year comparison, but overall, foreclosure inventory has decreased compared to a year ago, according to CoreLogic’s National Foreclosure report for February. Completed foreclosures are counted as properties that get auctioned off and purchased by a third party, …

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Income Taxes on the Abandonment, Foreclosure or Repossession of Property

Income Taxes on the Abandonment, Foreclosure or Repossession of Property Dispositions of property include sales and exchanges, but also include abandonment, foreclosures and repossessions. For U.S. federal income tax purposes, you can have a gain or loss on these types of dispositions. When you abandon property, you voluntarily and permanently give up possession with the …

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