Newcomers to give Florida banks a run for the money

An influx of new banks cranks up the competition, which should ease credit requirements and increase lending. Read more.

Senate panel OKs extension for home buyers’ credit

But it’s not a done deal yet. Current version adds a credit for non-first-time buyers and raises income limits. Read more.

Senators differ on extending homebuyer tax credit

A new plan favored by some U.S. senators extends the credit to March 31 then drops it by $2,000 per quarter. Read more.

Florida homeowners walking away from underwater mortgages

In two Fla. counties, 28% of foreclosures are ‘wise financial decisions’ to owners who can still afford the property. Read more.

Florida’s existing home, condo sales up in September 2009

Existing sales rose 34%, marking 13 months of increases as all MSAs improve. National home sales surge 9.4%. Read more.

Massive amounts of foreclosures clogging county’s civil courts

The process extends the pain for homeowners, banks and courts; Miami-Dade alone has 135,000 in the pipeline. Read more.

IRS investigates home tax credit claims

NAR Call to Action pushes extension; however, the White House questions costs and the IRS reports widespread fraud. Read more.

Freddie Mac: Home Valuation Code has improved appraisal quality

15% more appraisals are “acceptably close” to Freddie’s automated re-check of property values; but others report issues. Read more.

Mandatory mediation has a high success rate

The foreclosure program in three Fla. judicial districts helps owners and lenders compromise, and could become a model. Read more.

Lawmakers seek to extend $8K tax credit

A Senate bill would make it available to more than just first-time homebuyers, which could add $16.7B to the cost. Read more.