•·         A short sale can create a large tax liability. Have your client talk to an accountant. Debt relief is considered income.

•·         Helpful websites: www.ofheo.gov    www.responsiblelending.org    

•·         EEM, Energy Efficiency Mortgage, which helps finance the cost of adding energy efficient improvements

•·         Factors affecting your credit score, Payment History-35%, Amounts owed-30%, Length of Crefdit History-15%, New Credit-10%, Types of Credit-10%

•·         Talk to your lender about "rapid rescoring" or "credit simulator" to get the credit score up quicker

•·         For people in Florida and maybe some other states, a lawyer has found a loophole in the foreclosure rules. Since the loans have been sold and passed around so much in the secondary market, he asks them to "produce the note." It has gotten at least one person out of foreclosure

•·         Check out "Right Tools Right Now" at the NAR site, http://realtor.org

•·         If you put "The IRS" together, its theirs ....

•·         All FHA loans are assumable??? Hadn't thought about that....

•·         You have heard that it's a good time to buy...IT'S TRUE!!!! Buy real estate yourself. No one loses money on real estate over the long haul, 10 years or more.

•·         People save a lot of money by using a real estate agent, because we don't charge by the hour like an attorney.