New legislation requires all homeowners receiving Basic STAR Tax exemptions to register with the New York State Tax Department in order to receive the exemption in 2014 and subsequent years. That’s right, just when you thought you’d done everything necessary to secure your STAR Tax savings on your primary home, New York State is requiring all … Read more
Well we averted a catastrophic event with Congress allowing for an extension of the 2007 Mortgage Forgiveness Debt Relief Act to January 1, 2014. Had this law NOT been extended, anyone forgiven debt from the “short sale” of their principal residence, from agreeing to a “deed in lieu of foreclosure,” or having their property foreclosed, … Read more
https://www.inman.com/news/2012/09/13/foreclosures-boil-over-in-judicial-foreclosure-states This is exactly what I was talking about back in late February, as you can see in the video I produced illustrating how foreclosures in New York would be a drag on housing prices: https://youtu.be/-3L9Rdu9Eqw
The following link to an article posted on Steve Harney’s Blog, “Keeping Current Matters” is probably the best explanation, thus far, on what the new QE3 Stimulus will mean to Housing. I hope you enjoy it UPDATE: Some of our readers wanted a clear definition of what QE3 actually is. The best explanation we have seen … Read more
Ben Bernanke has made it official: QE3 Stimulus has now begun! The FED will begin pumping $40B into the economy each month, as long as necessary by buying Mortgage Backed Securities. And the FED begins buying Friday and expect to buy around $27B for the remainder of the month. But wait a minute! Hasn’t Fannie and … Read more
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