Archive for August, 2009

foreclosure25 How do I purchase a foreclosure home that is owned by the bank?
SAM asked:


I have found several home in foreclosure that the property is owned by the bank what is the next step? How do I find the MLS numbers and addresses? How do I find out if the price listed is the selling price? How to bid on the property?

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foreclosure7 Did the final version of Foreclosure Act include the $7000 credit for the purchase of a foreclosed home?
Stacey C asked:


I purchased a foreclosure in June 2008. I know the Foreclosure Prevention Act underwent many revisions. Does anyone know if the final version which the President is expected to sign still includes the provision for the $7000 tax credit for the purchase of owner occupied foreclosed homes? I am not a first time homebuyer.

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student loans29 When do student loans begin accumulating interest?
Amy asked:


I’m going to be starting grad school in the next year and have no experience with the student loans I’ll probably end up taking out. I’ve searched for details via several student loan websites, and perhaps no one mentions it because it’s taken for granted that interest accumulates immediately, but are there any loans available that begin accruing their interest after the student graduates school? Or is this “pay six months after you graduate” just a phenomenon with when the required payments begin? If there are loans that do not accrue interest during school, do they have fines for early payment?

Thanks for your help answering (probably obvious) questions for a student-loan newbie!

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