Shelley Mastro & Mark Mastro

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• Congress has passed a bill extending the Homebuyer Tax Credit

  I am happy to report that Congress has passed a bill extending the Home buyer Tax Credit closing deadline to September 30, 2010 . This is a huge win for REALTORS ® and home buyers, and NAR worked closely with members of Congress to make it happen. Read More... Posted Thursday, July 01, 2010 2:38 PM by Shelley Mastro | 0 Comments Filed under: Real Estate, Market Conditions, Announcements, Point2, Buyer Information

• Barclays Lowers REO Inventory Estimate

  Barclays Lowers REO Inventory Estimate By: Carrie Bay 05/07/2010 A recent study by Barclays Capital says that U.S. lenders are holding fewer foreclosed homes than previously assessed by the research firm. Some are viewing the revised estimate as a testament Read More... Posted Monday, May 10, 2010 2:26 PM by Shelley Mastro | 2 Comments Filed under: Market Conditions, Announcements, Finances, Buyer Information, Seller Information

• The new short-sale rules

  What sellers can expect from participating lenders starting in April: -- Sellers must be unqualified for a loan modification under the Home Affordable Mortgage Program or be unable to afford the modification. -- The bank will set an acceptable value of Read More... Posted Tuesday, March 16, 2010 9:19 AM by Shelley Mastro | 0 Comments Filed under: Real Estate, Market Conditions, Industry, Buyer Information, Seller Information

• Home buyers using FHA~ update.

  FHA has a federally mandated reserve requirement of 2%. The audit today (11/12/09) came out at having only 0.53% in reserves. It was expected to be less than 2% but not this low. This means we should be strapped in for a bit of turbulence with FHA. Unlike Read More... Posted Friday, November 13, 2009 9:42 AM by Shelley Mastro | 0 Comments Filed under: Real Estate, Industry, Finances, Buyer Information