Las Vegas Real Estate Blog » las vegas mortgage

FYI: THE EXTENSION OF THE TAX CREDIT STILL HAS NOT BEEN PASSED. IT WAS PART OF A MUCH LARGER JOBS BILL THAT DID NOT PASS LATE THURS. NIGHT.

Admin — Mon, 28 Jun 2010 19:02:08 +0000

Alert: THE EXTENSION OF THE TAX CREDIT STILL HAS NOT BEEN PASSED. IT WAS PART OF A MUCH LARGER JOBS BILL THAT DID NOT PASS LATE THURS. NIGHT.

Bank of America Posts a Profit

Admin — Sun, 25 Apr 2010 21:16:29 +0000

Bank of America Turns $3.2 Billion Profit in Q1
Posting back-to-back losses in the third and fourth quarters of 2009, the second half of last year was, to say the least, rough for Bank of America. But a new year marks new beginnings, and things seem to be turning around for the nation’s biggest bank. According to the company’s earnings report released Friday, Bank of America earned $3.2 billion in the first quarter of 2010. That’s a huge improvement compared to the net loss of $194 million reported in the fourth quarter of 2009.

What has your lender/servicer/mortgagee done for you lately? Refi, Loan Modification or Short Sale or just foreclosed on your property.

Admin — Sat, 15 Aug 2009 19:17:47 +0000

What has your mortgage holder done for you lately? Is it Wells Fargo, Indy Mac, Bank of America AKA Countywide, or host of others. Some of the smaller ones are participating in the myrid of programs put out by Obama but the big ones aren’t participating.

Have you tried to do a refi or a loan modification? Been denied?

Have you had to fax documents into your mortgagee and they don’t respond or get your faxes. When you call in to ask they tell you 21 days to get faxes imaged into the system and call back.

Give use some feedback of what you are hearing whether you are doing it yourself a real estate agent or attorney.

Knowledge is Power.

http://www.hopenow.com

$877 PAYMENT FOR SOME NEVADANS FROM COUNTRYWIDE BANK OF AMERICA

Admin — Fri, 31 Jul 2009 17:41:51 +0000

$877 PAYMENT FOR SOME NEVADANS

About 3,500 Countrywide Financial borrowers who lost Nevada homes in foreclosure can expect to receive checks for about $877 each early next year, the attorney general’s office said Friday.

The payments are part of a settlement announced in October with Countrywide over deceptive practices in making subprime, first home loans to borrowers around the country.

Subprime loans are those made to consumers with low credit ratings.

Former Countrywide subprime borrowers who lost their homes to foreclosure are expected to receive notices in a few days, Attorney General Catherine Cortez Masto said in a statement.

To qualify, the first payment on the loan must have been due between Jan. 1, 2004, and Dec. 31, 2007. The borrowers must have lost their homes through foreclosure, a short sale or a deed in lieu of foreclosure. A short sale occurs when the lender allows the homeowner to sell the home for less than the amount owed.

Bank of America acquired Countrywide in July 2008 after the end of the period specified in the lawsuit.

The bank agreed to pay $150 million to borrowers in 39 states who went through foreclosure. Nevada was allocated $3 million for 3,467 former homeowners. In addition, the bank offered mortgage loan modifications to Countrywide borrowers and relocation assistance to some customers.

Consumers may phone Rust Consulting at 866-411-6987 or vis countrywidesettlementinfo.com to get more information about the foreclosure settlement.

JOHN G. EDWARDS LAS VEGAS REVIEW-JOURNAL

Great News for First-Time Home Buyers!

Admin — Sat, 16 May 2009 02:14:16 +0000

Great News for First-Time Home Buyers!

HUD recently announced that qualified First-Time Home Buyers who want to take advantage of the available tax credit of up to $8,000 now have another option available to them to help them become homeowners.

It’s clear that first-time home buyers have been having a major impact on the housing market this year. The National Association of Realtors announced that first-time buyers, who typically account for less than 40% of home sales each year, have been especially busy…in March, homes that were purchased by first-timers accounted for 53% of all sales, and this percentage is expected to hold true for all of 2009.

With home affordability higher than ever, available tax credits and some of the lowest interest rates ever recorded for home loans, who can blame them? Particularly as a first-time buyer, there may never be a better time to buy a home than right now.

However, the availability of a tax credit, while a great incentive, does not put the money in the hands of a buyer right away. HUD’s announcement now allows for prospective and qualified home buyers to borrow the money from approved agencies and lenders.

While details of participating lenders and HUD-approved agencies are not yet available, this should turn up the heat on prospective buyers to get busy searching for their next home. As further details become available, I will get them to you.

In the meantime, alert your database that one more barrier to homeownership is being removed and the time to start shopping is now!

Sincerely,

Matthew Mauzy
Signature One Mortgage
(702) 453-1111
mmauzy@sigonemtg.com