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foreclosures and short sales in illinois: Deadline to request a foreclosure review was extended three (3) months - Powerteamhomes.com - 02/22/12 12:53 PM
You may have clients who qualify to have their foreclosure case checked by a third party as part of the federal regulators’ independent foreclosure review directive now have until July 31, 2012 to submit their requests. How about notifying your database? This is great info for them either way. The Federal Reserve and the Office of the Comptroller of the Currency (OCC) announced this past Wednesday the 15th the postponing of the deadline to give consumers more time if they believe they suffered financial injury as a result of foreclosures actions from 2009 or 2010.
The independent foreclosure reviews only apply … (0 comments)
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foreclosures and short sales in illinois: IRS and “forgiven” mortgage amount(s) - PowerteamHomes.com - 01/16/12 01:04 PM
Some of you keep asking if the IRS will go after stressed sales homeowners for the
forgiven amount they did not pay via the sale of their home that closed for much less than the mortgagenote. Back in 2010 and reported on our Monday’s MEMO’s we gave you the details on it: a two(2) year “stay” on that making it to December 31, 2012.
However, the IRS came up with certain restrictions on it (as they always do), and will revieweach case independently based on the following and more:• Amount forgiven vs. amount actually owed on the mortgage• Value of home … (0 comments)
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foreclosures and short sales in illinois: GAME PLAN – How Real Estate Professionals can thrive in the future - PowerTeamHomes.com/RE/MAX - 03/16/11 03:51 PM
In a new book, Game Plan, to be published and available at the upcoming “Gathering of Eagles” in Denver, Ian Morris, CEO of Market Leader and REAL Trends Editor Steve Murray researched the market for housing sales and consumers and real estate professionals for the next 3-5 years. The goal of the work is to describe how true professionals and those desiring to be at that level, can truly thrive in the markets just ahead. Here are some early conclusions from the real estate professionals interviewed:
1. Unlike in years past, there are few grave threats facing real estate professionals other … (0 comments)
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foreclosures and short sales in illinois: Change - PowerTeamHomes.com - 01/06/11 05:45 PM
Change, per Wikipedia, is the process of becoming different. Change can be something really simple like changing your clothes or your hair color or the leaves changing. BUT usually when we think of change – it can bring about anxiety and sometimes, it’s also very exciting.
We all know change is inevitable. If we stop fighting change and accept change- we may be surprised at the outcome. The story below is something I have shared before but it’s been so long, it’s definitely worth repeating. The moral of the story … accept who you are and where you are as it … (0 comments)
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foreclosures and short sales in illinois: Be Your Transformation..PowerTeamHomes.com - 11/10/10 01:02 PM
Change, per Wikipedia, is the process of becoming different. Change can be something really simple like changing your clothes or your hair color or the leaves changing. BUT usually when we think of change – it can bring about anxiety and sometimes, it’s also very exciting.
We all know change is inevitable. If we stop fighting change and accept change- we may be surprised at the outcome. The story below is something I have shared before but it’s been so long, it’s definitely worth repeating. The moral of the story … accept who you are and where you are … (0 comments)
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foreclosures and short sales in illinois: With the economy in the doldrums and house prices stalled, short sales boom - PowerTeamHomes.com - 11/08/10 03:39 PM
The federal government’s massive HAMP rescue program failed when lenders balked at any reductions in mortgage principle. Lowered interest rates and longer terms reduced monthly payments somewhat but not nearly enough, many borrowers re-defaulted.
That was then. With the home market possibly poised for another slip downward, lenders are morewilling to deal. CoreLogic says short sales have tripled since 2008 with 400,000 likely to close in 2010.A recent Washington Post story tells us it’s happening as well in the D.C. metro area, a region enviedeverywhere for its many thousands of well-paying government jobs. Fannie Mae says it did 36,534 shortsales in … (0 comments)
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foreclosures and short sales in illinois: “Playing” with the IRS code to stimulate the economy won’t be easy - 11/08/10 03:20 PM
The top earning 10% of households pay 73% of all federal income taxes. That’s the exclusive club we are in as tax payers!Consider the fact that a full 47% of U.S. households currently do not pay any income taxes at all. Thebottom 40% of nearly half of the taxpayers actually make a profit on federal taxes—they pay no tax andget a check from the government.
… (1 comments)
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foreclosures and short sales in illinois: SHORT SALES-REO/FORECLOSURES-MORATORIUM WHAT’S NEXT? - 11/01/10 12:57 PM
Realtors can never get old or outdated, our industry changes so fast that it leaves us no time or choice:always moving forward and always learning new models and how to deal with a crazy and non-stop realestate environment. If that wasn’t enough, Illinois is requiring all Realtors to move up to Broker statusby 2012 at the tune of many more hours of class time and studying!
As the national/global meltdown began we found ourselves selling homes with no equity and in mostcases way below the even mark. Besides retooling ourselves, it was not an easy task to sit with sellersand tell … (0 comments)
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foreclosures and short sales in illinois: Deep Thoughts on the National Moratorium on REO/Foreclosures - PowerTeamHomes.com - 10/25/10 12:31 PM
The magnitude of the moratorium on REO/Foreclosure properties and how it came about is national and Congress or President Obama will have to address it quick. The best way out of it is to stop all lawsuits, let the foreclosure judgment stand and let the lenders do all the necessary paperwork through the various “bundles”. Be sure that the last lender who is holding the mortgage note and foreclosing on a non-paying-homeowner has the “paper right” to do so. Every coin has two sides…Suspension of REO/Foreclosures opens up a much larger window for short sales. Buyers and sellers now have … (1 comments)
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foreclosures and short sales in illinois: Deep Thoughts on the National Moratorium on REO/Foreclosures - PowerTeamHomes.com - 10/21/10 02:25 PM
The magnitude of the moratorium on REO/Foreclosure properties and how it came about is national and Congress or President Obama will have to address it quick. The best way out of it is to stop all lawsuits, let the foreclosure judgment stand and let the lenders do all the necessary paperwork through the various “bundles”. Be sure that the last lender who is holding the mortgage note and foreclosing on a non-paying-homeowner has the “paper right” to do so. Every coin has two sides…Suspension of REO/Foreclosures opens up a much larger window for short sales. Buyers and sellers now have … (0 comments)
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foreclosures and short sales in illinois: Exercise is no fun, how about just not sitting? - PowerTeamHomes.com - 10/20/10 11:18 AM
My friend’s grandmother, born in a small town in Italy, grew up in a family that could not even afford a horse and buggy. She walked to school, church, the library etc. Walking was a way of life. Due to the time involved in walking from place to place and because there were always chores to do around the house, there was very little time for sitting down. If she were alive today she would most definitely wonder why people spend so much time sitting during the day! According to research from the Cancer Research Center at University of Queensland, … (1 comments)
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Paul N. Paterakis Lake Zurich, Long Grove, Hawthorn Woods, Kildeer Real Estate
Lake Zurich,
IL
More about me…
The Paul Paterakis Power Team-Remax Showcase Homes For Sale
Address: 7159 RFD, Long Grove, IL, 60047
Office Phone: (847) 388-7551
Cell Phone: (847) 366-3455
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