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In the absence of the federal home buyers tax credit, sales of existing, single-family homes in California declined 4.2 percent to a seasonally adjusted annual rate of 492,000 units in June compared with the same period a year ago, according to C.A.R.’s June sales and price report. The median price of an existing home in [...]
The Senate has amended a bill to give homebuyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit.
Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of [...]
Two reports out of Washington Wednesday paint very different pictures of the government’s response to the nation’s mortgage foreclosure crisis.
One, the monthly Treasury Department report on the progress of the administration’s Home Affordable Modification Program, shows loan servicers are stepping up their efforts to convert more delinquent borrowers into more affordable mortgages loans.
The other, from [...]
