Tag Archives: homebuyers
Sour reports Thursday, June 23, on the number of people who sought unemployment benefits and buyers of new homes illustrate what Federal Reserve Chairman Ben Bernanke acknowledged Wednesday: Many factors weighing on the economy are proving to be more chronic than first imagined. Read More
The gap between the average sale price of a foreclosed home and that of other properties grew wider last year, giving homebuyers who snapped up bank-owned homes big discounts. And homebuyers can expect to see more of those bargains this year, because fewer foreclosed homes were sold in 2010 than were taken back by banks, foreclosure listing firm RealtyTrac Inc. said Thursday, February 24. Read More
The Bush-era tax cuts have been extended, the alternative minimum tax is patched and capital gains rates are set. Tax breaks are in place for students and teachers, and for the most sizable estates. Congress established some of the parameters for the 2011 tax year even before the year began.
The big question confronting lawmakers was whether to extend the Bush tax cuts and for whom. Democrats had argued that the nation’s richest taxpayers should be excluded from any extension Read More
The first financial challenge when you’re thinking about buying a home is how to come up with the down payment.
Traditionally, homebuyers need a down payment between 10 percent and 20 percent of the purchase price. During the housing bubble that figure dropped sharply, even down to zero. But loans that didn’t require a down payment are now seen as one of the culprits of the mortgage crisis, because they allowed people to buy homes they couldn’t afford.
These days, it’s rare to get a mortgage without contributing some of your own cash. And if you’re trying to buy a home that was foreclosed or through a short sale — where the purchase price is below the amount owed on the house — a larger down payment