The residential rental market has seen a dramatic increase in the number of families deciding to rent rather than purchase their homes. This trend has also attracted scammers and con artists to commit rental fraud.
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The residential rental market has seen a dramatic increase in the number of families deciding to rent rather than purchase their homes. This trend has also attracted scammers and con artists to commit rental fraud.
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Foreclosures have been known to cause financial stress but a recent study led by researchers at the University of Maryland suggest that high foreclosure rates are to blame for increased health issues in Americans over the age of 50.
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There’s still time for homeowners facing foreclosure to apply for the Emergency Homeowners’ Loan Program (EHLP) through the PA Housing Finance Agency (PHFA).
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A mobile application now provides more up-to-date foreclosure information as a result of a partnership between Visionary Apps LLC and RealtyTrac®.
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With the overwhelming numbers of distressed properties in most areas, there are few real estate companies or brokers that can avoid working with foreclosures or short sales. By remaining cautious, ethical, and using additional documentation, many of the risks involved with these transactions can be avoided and allow a successful and profitable transaction!
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The PA Department of Banking, which protects consumers from financial abuse, also deals with fraudulent companies that claim to help Pennsylvanian’s going through foreclosure.
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Realtors® can best advise consumers facing foreclosure by recommending that they call a housing counselor immediately.
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REALTORS® need to know consumers’ options when it comes to short sales and foreclosures, according to Pat Moyer, a REALTOR® and real estate instructor. Moyer will be teaching NAR’s “Home Affordable Foreclosure Alternatives (HAFA) Short Sales: The Complete Course” on Monday, Dec. 6 at Triple Play 2010 in Atlantic City. Pre-registration is required.
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Distressed properties can cause more stress than success if agents aren’t aware of all of the ramifications, according to real estate expert and columnist Bernice Ross.
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Thursday, Feb. 9, 2012
