U.S. Plan to Streamline & Simplify Short Sales - 03/24/10 05:51 PM
The U.S. Treasury plan to help homeowners avoid foreclosure potentially applies to 75 percent of the mortgages in the U.S., including those backed by Freddie Mac or Fannie Mae (those two organizations are currently devising guidelines). The plan, which provides incentives for lenders and homeowners for completing Short Sales, is many-faceted:
It provides incentives to lenders and borrowers for completing Short Sales It streamlines and standardizes the documentation necessary for Short Sales It limits the ability of subordinate lien-holders to obstruct the Short Sales process It sets limits on the time it takes lenders to approve or reject Short Sales requests … (1 comments)

U.S. Plan to Help Homeowners Avoid Foreclosure - 03/19/10 09:46 PM
Homeowners across the United States who are undergoing financial hardship could avoid foreclosure under a plan announced on Nov. 30 by the U.S. Treasury Department. Under the plan, millions of at-risk homeowners could be free of mortgage debt without going through foreclosure, and given $1,500 for relocation. The Treasury plan, which potentially applies to 75 percent of the mortgages in the U.S., including those backed by Freddie Mac or Fannie Mae (those two organizations are currently devising guidelines), provides incentives for lenders and homeowners for completing Short Sales - transactions in which the lender agrees to a sale price that's less … (1 comments)

Buy Now ~ Before the Cost Goes Up! - 03/12/10 07:46 AM
Don't forget the cost of FHA mortgage insurance is going up. But there is a window of opportunity to get an FHA loan before the this happens. As long as the the laon in obtained before April 5, you can get an FHA loan with 1.75% upfront mortgage insurance (versus 2.25% AFTER April 5). Why This Is Happening: · FHA's capital reserve requirement mandated by Congress has fallen below the minimum requirement. · FHA makes up 1/3 of all financing in today's market What Will Change: · Increase in the up front MIP Fee to 2.25% from 1.75% · FHA is … (5 comments)

Just Minutes from the Beach ~ OPEN HOUSE SUNDAY 1-3 pm!!! - 03/10/10 12:08 PM
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The Truth About Appraisals - 03/06/10 06:20 AM
Knowing the Guidelines Solves the Mystery
The appraisal process often baffles consumers. They may feel that their home is worth a higher dollar amount, and so the appraised value doesn't always make sense to them.
It is important to know that the appraiser is completely independent from lenders, buyers, sellers, and real estate agents, and that the guidelines to which they adhere are dictated by the Uniform Standards of Professional Appraisal Practice (USPAP) and Fannie Mae. In most states, the mortgage lenders must also disclose the purpose of the appraisal, as each transaction carries its own set of rules.
In essence, … (5 comments)

Does H&R Block Know What They Are Talking About? - 03/03/10 07:33 PM
Recently I had a client call me to complain about how upset she was regarding the fact that she was only getting half of the $8000 tax credit. She had purchased a duplex a couple of months ago and was expecting to receive 10% of half of the sales price (since she was renting out the other half of the duplex and receiving rental income). She was, therefore, expecting to get $7500 (10% of $75K instead of 10% of the full purchase price of $150K) She was very upset because she had recently been to H&R Block to have her taxes … (6 comments)

Handy Staging Tips for Sellers - 03/01/10 07:14 AM
Selling a home can be challenging and time consuming for a seller. In today's market, you must use "every trick in the book" in order to make your home appealing to the greatest number of buyers. Here are some handy staging tips that will help you prepare your home for selling...
Get ready to move... Start packing! Before you show your home to any potential buyer be sure to go through your whole house with your agent to finish the Staging process. Meanwhile, here are some quick tips to help you start. Follow these general tips and your home will look … (3 comments)

 

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