It doesn’t, fugghedaboowwd-eht……Actually processing 4506-T’s, which is where the lender gets the borrower’s tax returns directly from the IRS will be delayed, but lenders are working on getting temporary waivers for this. The same goes for verifying social security numbers but if the borrower provides a copy of their social security card than this can be side-stepped as well.
Financial Markets
The Dow ended Friday up over 100 pts, just a day after a 300 point gain. The primary catalyst for the move is word that the political stalemate in Washington over the government shutdown may be nearing an end. As a nice change of pace, mortgage rates have remained flat the past two weeks, providing for a calm interest rate environment for consumers. Check out this funny You-Tube clip, basically dumbing-down the debt ceiling debate. http://www.youtube.com/watch?v=Li0no7O9zmE
The Dow ended Friday up over 100 pts, just a day after a 300 point gain. The primary catalyst for the move is word that the political stalemate in Washington over the government shutdown may be nearing an end. As a nice change of pace, mortgage rates have remained flat the past two weeks, providing for a calm interest rate environment for consumers. Check out this funny You-Tube clip, basically dumbing-down the debt ceiling debate. http://www.youtube.com/watch?v=Li0no7O9zmE
Southern Nevada Real
Estate Related Data
Notice of Defaults for Clark County are getting filed at an unprecedented clip and it appears the long awaited “shadow inventory” is about to crash the housing-appreciation party. Realty Trac reported 1,000 NOD’s on September 30th alone. The one day tally was attributed to a law change on October 1st, and is not considered to be a trend, but we can certainly expect more activity than what we have seen the past 18 months. Filings are up 36% from 3rd quarter 2012 to 3rd quarter 2013.
Notice of Defaults for Clark County are getting filed at an unprecedented clip and it appears the long awaited “shadow inventory” is about to crash the housing-appreciation party. Realty Trac reported 1,000 NOD’s on September 30th alone. The one day tally was attributed to a law change on October 1st, and is not considered to be a trend, but we can certainly expect more activity than what we have seen the past 18 months. Filings are up 36% from 3rd quarter 2012 to 3rd quarter 2013.
Not
so coincidentally, the median priced home for September 2013 dropped 1.1%, down
from $182,000 to $180,000, but up nearly 30% from September 2012.
For more real estate financing
information, please visit my website: http://www.matthewtmaltese.com/home.html
