Items Tagged with 'Long Island'

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Why are major housing markets going haywire?

Hot markets slowing down, slow ones speeding up
OK, so, east of the Mississippi some of the nation's slowest markets are beginning to heat up. And in the West, the hot markets are beginning to cool. Here's the latest Trulia report on this peculiar activity.
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Nassau County real estate fee hikes delayed until Jan. 4, 2016

New fees expected to bring in $35.6 million in revenue
Earlier this month, Nassau County, New York, which includes Long Island, enacted a series of significant real estate fee increases that were put in place to offset a budget shortfall. Now, thanks in part to lobbying efforts by the New York State Land Title Association, the Nassau County Legislature elected to delay the implementation of the new fees until Jan. 4, 2016.
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New program offers mortgages with 1% down

First-time home buyers in Long Island eligible for new program
The Community Development Corporation of Long Island announced a partnership with the Housing Development Fund to offer SmartMove New York, a down payment assistance loan product.
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Mortgage Fraud Scheme Targeted Distressed Properties

The Manhattan District Attorney’s office indicted 13 people and a mortgage origination company for allegedly perpetrating a mortgage fraud scam that ran for four years and cost lenders more than $100m. The indictments and convictions come after a 10-month investigation of the Garden City, Long Island-based AFG Financial Group and 19 of its mortgage transactions. In the indictment, District Attorney Robert Morgenthau alleges the defendants targeted distressed residential properties in New York City and surrounding counties.
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Lender Continues to Buck Trend, Saves Home Through H4H

Long Island-based Lend America announced Tuesday it had not only successfully saved a borrower's home from foreclosure as the California-area authority stood at the door ready to evict the residents, but the mortgage bank had made a hefty new year's resolution for 2009 -- saving 10,000 U.S. homes from foreclosure.
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Tight Credit, Continued Recession Stunt Pending Home Sales

After surging in August, pending home sales swung into a decline based on contracts signed during September, according to a report released Friday by the National Association of Realtors. The pending home sale index - which measures sales based on offers accepted by sellers although no deal has yet closed - declined 4.6 percent to 89.2 from the upwardly revised reading of 93.5 taken in August.
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