prices are widely expected to fall now that a tax credit for home buyers has expired.

That’s raising concern about a possible double dip in home prices.

National housing prices stopped falling early last year and rose 0.3% over the 12 months ending in February, according to a study by real estate analytics firm CoreLogic.

The firm predicts prices will fall this year before starting to rise again in late 2010. Even so, next February’s prices are likely to be 4.2% lower, it forecasts.

“Why would we want to find the tax assessor records for a property?” you may ask. ANSWER: To prepare the HUD-1 before sending it to the short-sale lender. For example, a homeowner may be 2 years past due on their property taxes, but you fail to list the past-due taxes on the HUD-1. Then the short-sale lender approves the HUD-1 as WRITTEN. So you go to escrow, the title company runs a preliminary title report (AKA “prelim”) and you find out that $10,000 is owed in property taxes.

Posted via web from Title Insurance
Continuing Ed for Title Agents

Main

Frank Introduces National Flood Insurance Program Bill | RealEstateRama

May 11, 2010 admin

“The flood insurance program has lapsed twice this year. For each day the program was inactive, up to 1,400 homebuyers seeking to buy homes in flood plains were unable to close on their homes

.