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Bill Seeks To Expand Homebuyer Tax Credit

Sen. Johnny Isakson (R-Georgia), along with nine bipartisan cosponsors, has introduced S. 1230, The Homebuyer Tax Credit Act of 2009. The bill would increase the federal tax credit for the purchase of a home from the current amount of $8,000 to $15,000.

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Texas AG Hosts Mortgage Fraud Summit

Texas Attorney General Greg Abbott welcomed state and local authorities, law enforcement officials, prosecutors, and other Texans from the real estate industry to the Office of the Attorney General’s (OAG) Mortgage Fraud Summit in Austin on Monday.

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Nevada Enacts BPO Law

Nevada Governor Jim Gibbons signed Senate Bill 184 into law last Tuesday. The measure, which received widespread support from real estate brokers, agents, and appraisers in the state, enables broker price opinions (BPOs) to be performed in Nevada and provides the real estate valuation industry there with clarity regarding BPO preparation and delivery.

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Comptroller Dugan Tours Dallas

Comptroller of the Currency John C. Dugan recently toured two Dallas neighborhoods where low- and moderate-income homebuyers are being given affordable opportunities to own a home. Dugan described one of these neighborhoods in South Dallas as being hit hard by foreclosures.

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Pro-Teck Endorses NEW BPO Standards

Waltham, Massachusetts-based Pro-Teck Services recently issued a statement endorsing the Broker Price Opinion (BPO) Standards and Guidelines (BPOSG) introduced by the BPO Standards Board late last month.

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Foreclosure Scammers Target Short Sales

Scottsdale, Arizona-based National Short Sale Center says more than 50 percent of the homeowners it is working with to secure short sales have been approached by circumspect individuals or companies proffering fraudulent foreclosure rescue services.

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New York Governor Wants Stronger Mortgage Protections

New York Gov. David A. Paterson has proposed legislation that would build upon the state’s subprime lending reform law enacted last year. The measure centers on providing additional protections for homeowners and tenants, establishing safeguards against foreclosure rescue scams, and preventing urban blight caused by foreclosed homes.

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REOTrans Certifies Agents in REO

The volume of defaulted real estate coming onto the market nationwide has reached unprecedented proportions, with more than 40 percent of homes for sale representing lender real-estate-owned properties.

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