from: Investopedia Americans who are brave enough to buy a home despite persistent predictions of a double dip in housing may want to contact the federal government, as the recession and financial crisis have turned Uncle Sam into one of the largest owners of real estate in the United States. The housing bust has led [...]

From Money Magazine: Best places to Live: WINNER Eden Prairie, Minnesota Top 100 rank: 1 Population: 64,000 Unemployment: 5.1% Why is Eden Prairie No. 1 this year? Not only is it family-friendly, it has a dynamite economy too. At 5.1%, its unemployment rate is nearly one percentage point below the county rate and more than [...]

Foreclosures accounted for a third of all sales — and sold at a nearly 30% discount — during the first months of 2010. According to a new report from RealtyTrac, the marketer of foreclosed properties, 31% of all sales were foreclosures. And home buyers purchasing those properties paid a whopping 27% less, on average, compared [...]

Homeowners struggling to make their house payments may seek a mortgage loan modification in hopes of avoiding foreclosure and protecting their credit score. However, loan modifications also take a toll on those scores. In theory, a loan modification should be a mutually acceptable solution to an out-of-control mortgage debt. The homeowner gets a workable payment [...]

The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford to repay the mortgages they are sold. Lenders would also have to tell borrowers the most they might pay on an adjustable rate mortgage and explain that payments will vary when the interest rate [...]

(from CNNMoney.com) — Most borrowers who have had their mortgages modified through a government-sponsored program will re-default within 12 months, according to a report released Wednesday. Between 65% and 75% of loans that are modified through the Home Affordable Modification Program are likely to go bad, according to the report released by Fitch Ratings, a [...]

Just to give you some more information, we do Minneapolis Short Sales as well as Short Sales in Saint Paul and the surrounding metro area. We understand all of your MN Short Sale Options and we can share our knowledge while working with you on your MN Short Sale. Do you have questions regarding MN [...]

(CNNMoney.com) — Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks, when the government starts handing out cash to encourage lenders to close these deals. “Banks have ramped up short sale approvals,” said Duane Legate of House Buyer Network, which connects [...]

Tax laws, when it comes to debt being forgiven, are very clear. If you owe a debt to someone and they cancel or forgive that debt, the canceled amount may be taxable. Does it make sense? Sure, because you have just received something that you did not have before. So, when a homeowner loses a [...]