Recruiting Agents In Rhode Island

Buying In Rhode Island Today

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Extending the Tax Credit: Here is what is being discussed in Congress now
Support for expansion and extension of the tax credit is growing in Congress. Here is a preliminary look at what might be coming down, extended out to people who are IN a Purchase Contract by the end of April, but closing before June, 2010. Dodd-Lieberman-Isakson Amendment $8,000 Homebuyer Tax Credit The Issue: • Ask your Senator to support the DoddLiebermanIsakson amendment by extending the $8,000 firsttime homebuyer tax credit. The DoddLiebermanIsakson amendment would: • Extend the tax credit to June 30, 2010. • Expand the credit by removing the firsttime homebuyer requirement. • Raise the income limits to $150,000 ($300,

NAR: Best tool to keep housing moving is the tax credit
WASHINGTON – Oct. 8, 2009 – The best tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, and it’s essential that Congress extend the credit into 2010, the National Association of Realtors® (NAR) testified at a hearing of the U.S. House Small Business Committee yesterday. The tax credit currently expires Nov. 30, 2009. NAR Regional Vice President Joseph L. Canfora also told the panel that a major stumbling block for consumers has been the implementation of appraisal processes spurred by the Home Valuation Code of Conduct (HVCC), which is causing delays in closings. That delay, Canfora said, led to artificially low existing-home sales num

NAR: Best tool to keep housing moving is the tax credit
WASHINGTON – Oct. 8, 2009 – The best tool for sustaining the still-fragile housing market is the $8,000 homebuyer tax credit, and it’s essential that Congress extend the credit into 2010, the National Association of Realtors® (NAR) testified at a hearing of the U.S. House Small Business Committee yesterday. The tax credit currently expires Nov. 30, 2009. NAR Regional Vice President Joseph L. Canfora also told the panel that a major stumbling block for consumers has been the implementation of appraisal processes spurred by the Home Valuation Code of Conduct (HVCC), which is causing delays in closings. That delay, Canfora said, led to artificially low existing-home sales num

A third of loan applications are being denied!
Report: 1 in 3 loan applications denied WASHINGTON – Oct. 1, 2009 – Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday. In its annual look at mortgage practices among lending institutions, Federal Reserve said the denial rate for all home loans was about 32 percent last year – about the same as in 2007, but up from 29 percent in 2006. The denial rates for blacks and Hispanics were more than twice as high as the rate for white borrowers. The report highlights massive changes in the lending industry after the housing market bust.

Housing Prices Stabilizing?
NEW YORK – Sept. 30, 2009 – Home prices rose for the third-consecutive month in July, bolstering the view that the long free fall in the housing market may be history. But consumer confidence fell unexpectedly, modestly pushing down stocks. Housing prices ticked up 1.6 percent from June, according to the Standard & Poor’s/Case-Shiller home price index, which tracks 20 large cities. Low mortgage rates and bargains on foreclosed homes are attracting buyers. Home prices rose for the first time in three years in May. And after falling 12 percent from October through April, prices climbed 3.6 percent from May to June. “I think we’ve made the turn,” says