Fannie Mae is My Landlord?
Phoenix – Well when you think they have thought of everything, Fannie is now in the Landlord business. However, it does help the struggling homeowners from becoming homeless which is a good thing.So what does this all mean?Fannie Mae announced Thursday that it will allow troubled homeowners to lease their homes versus losing them through foreclosure and eviction.The new program is directed at providing greater home security to distressed borrowers who can’t afford their mortgage payments and do not qualify for a loan modification, however who are able to afford the rent.The program is designed so that borrowers transfer their property deed

Less Foreclosure Notices Filed in October
October showed the third straight monthly decline in the number of foreclosure noticed filed across the valley. The decline is attributed to foreclosure-prevention programs - banks are starting to embrace the concept of working with the homeowner to come up with viable alternatives to foreclosure.It also has appeared that Arizona has fallen to 4th place in foreclosure filings, trailing Nevada, California, and Florida,Still, foreclosures remain near record highs and the mortgage industry is still struggling to manage the onslaught. The government has had to push many lenders to participate in the Obama administration's loan-modification plan

Update on Homebuyer Tax Credit
While nothing has been finalized quite yet, I want to make sure to keep you posted on the latest and greatest with the tax credit extension/expansion. As of this morning, the House of Representatives has approved legislation that would extend AND expand the credit. The House vote comes after the Senate voted yes on Monday night and while there is more work to be done, word on the street is that an agreed upon bill should reach the President for his signature by the end of this week. Here’s what has been agreed upon so far:Under the proposal, individuals with income up to $125,000 a year and couples earning up to $225,000 would be eligible for the credit. The extension woul

7 Reasons to Own Your Home
1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.3. Equity. Money paid for rent is money that you

How to Make Your Home Appealing to Buyers