REAL ESTATE TAX AMENDMENT
Florida’s Taxation and Budget Reform Commission voted yesterday in favor of a constitutional amendment to decrease property taxes in exchange for higher sales taxes, providing it’s approved by 60 percent of voters in November.
FORECLOSURES
The Bush administration "strongly opposes" Democrats’ housing rescue package, an official announced yesterday, calling it a bailout that would expose taxpayers to excessive risk. Among other things, the plan would relax Federal Housing Administration standards for at-risk homeowners seeking an Federal Housing Administration loan.
MORTGAGE RATES
Rates on 30-year mortgages topped 6 percent for the first time in six weeks as financial markets grew more worried about rising inflation pressures.
HOUSING MARKET
And now for the heartwarming side of the housing bust: It’s helping some people buy homes that they couldn’t afford a couple of years ago.
SHORT SALES
What exactly is a "short sale"? The National Association of REALTORS may decide the answer at its meetings in May. Technically, it’s not a short sale until a bank agrees to accept less money than it’s owed for a mortgage loan, and that raises questions on how some listings should be presented in the Multiple Listing Services.
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