Part 1: Licensees From Other States Obtaining A MA License Real Estate licensees from other states are often interested in their eligibility to do business in Massachusetts. Do you need to take 40 hours of Massachusetts required education? What about taking the exam? Is my previous experience recognized? The easy answer is…it varies!!! Let’s take a look at our New …
Proposed First Down Payment Homebuyer Tax Credit
Additional help could be on the way for first-time homebuyers. As a candidate, President Joe Biden proposed the First Down Payment Homebuyer Tax Credit, which could be significant in aiding potential first-time homebuyers. For starters, the credit could be used to cover all or a considerable share of a buyer’s down payment. With home prices rising ever higher, any down …
Exciting News About Your Real Estate Exam!
Effective January 27th you can register to take your Real Estate Exam at home!! PSI and the Massachusetts Division of Professional Licensure / Board of Real Estate have devised an acceptable procedure that allows you to test at home! The on-line exam process will begin on January 28th. Please contact PSI with any additional questions or comments. On-site exams are …
New Eviction Rules: What You Need to Know
January 6, 2021 – By Jonathan Schreiber MAR On December 31, Governor Baker signed into law Chapter 257 of the Acts of 2020 which makes important changes to eviction rules and procedures that will be in effect until the end of the COVID-19 state of emergency. The changes include: • All notices to quit for nonpayment of rent must be …
Fair Housing Update
In the Fall of 2020, the Trump Administration implemented changes affecting the requirements affecting complainants and burden of proof. Here is a brief summary. As licensees, we suggest you keep up to date at vww.hud.gov for additional Fair Housing links plus more details and up to date information. “Through its final rule, HUD aims to adopt the disparate impact analysis …
The Rehabbers’ Guide to 203(k) Loans
Tight-fisted lenders have made home equity loans harder to come by. So what’s a fixer-upper to do? Meet the 203(k) loan. Lenders’ weak stomach for extending credit doesn’t have to sour your upgrade dreams. The old but new again FHA 203(k) loan rolls remodeling and mortgage costs together, whether you’re buying or refinancing an existing home loan to pay for …
Know Your Loan Options for Your Clients! FHA Loan Limits Increase For 2021! And much more!!
The Federal Housing Administration has released the 2021 loan limits for FHA mortgages. In most of the U.S., the 2021 FHA loan limit for one-unit properties will be $356,362, an increase from $331,760 in 2020! Certain high-cost areas will have higher limits, reflecting the higher price of housing. Check out the FHA’s list for complete details at https://www.hud.gov/ FHA loans …
Massachusetts Eviction and Foreclosure Moratorium For COVID-19 Emergency Signed Into Law
This is a great article by Rich Vetstein regarding the recent legislation passed in Massachusetts. This article applies to both property owners and renters. by RICH VETSTEIN on APRIL 20, 2020 Unprecedented, Sweeping Prohibition on Residential and Commercial Evictions Enacted Without Corresponding Mortgage and Tax Relief to Property Owners In an unprecedented, sweeping, and likely unconstitutional move, the Massachusetts Legislature has passed, and …