From the Blog
In light of the rising number of property foreclosures in the United States, the government has expanded the Home Affordable Modification Program (HAMP) to include provisions and incentives for servicers to allow short sales or deeds-in-lieu as positive options for eligible homeowners in default who wish to avoid foreclosure. The new program is called Home… Read More
How does a maintenance deductible work? For example, if the tenant’s maintenance deductible is $75, and the owner’s expense for repairing a faulty A/C unit is $400, the tenant would reimburse the landlord $75 upon completion of the A/C repairs and presentation of the final invoice.
There will be expanded IRS Form 1099 reporting for rental property owners starting with the year 2011. The Small Business Jobs Act of 2010 requires all individuals who own rental property to issue an IRS Form 1099 for payments relating to their rental properties. Now, by definition, “a person receiving rental income from real estate… Read More
Market Conditions for Fairfax County, Virginia Fairfax County is a huge geographic area with many well established neighborhoods and a desirable proximity to DC and surrounding Metro areas, and is a sought after location with it’s central access to employment, shopping, and transportation opportunities. Here are some market stats for Fairfax County for the month… Read More
The program was due to expire on June 30 but will now continue until that date in 2012. The Home Affordable Refinance Program (HARP) has been extended for another year according to information released on Friday from the Federal Housing Finance Agency. On March 1, 2010, the Federal Housing Finance Agency (FHFA) announced the extension… Read More