peter j goodman: Making Home afforable Plan - Short Sales and Deeds in-Lieu
- 05/26/09 01:01 AM
As you may know, on February 18, 2009 the Obama Administration announced the Making Home Affordable (MHA) Program, a comprehensive plan to stabilize the US housing market and offer assistance to up to 7 to 9 million homeowners by reducing mortgage payments to affordable levels and preventing avoidable foreclosures. Part of this plan includes a Short Sales/Deeds-In-Lieu Program as a foreclosure alternative. For eligible borrowers unable to retain their homes through a Home Affordable Modification, MHA will provide incentives to borrowers, servicers and investors to encourage short sales and deeds-in-lieu. Both allow families and servicers to avoid the costly foreclosure process, … (1 comments)
peter j goodman: Up to the Minute Status on HELPING FAMILIES SAVE THEIR HOMES IN BANKRUPTCY ACT OF 2009!
- 03/27/09 02:35 AM
We are all asking the same question: What is going on with the new Helping Families Save Their Homes In Bankruptcy Act of 2009? Our website www.pjgoodmanesq.net now offers a link to real time updates as to the status of this bill. It can be viewed by clicking here. This way everyone will be privy to the actual information as it comes to light. We are getting calls from dozens of homeowners asking us what the status of this bill is and wondering if they will qualify. As this is new information to all of us, it is helpful to know exactly … (0 comments)
peter j goodman: What Sellers should know about Long Island Short Sales
- 03/11/09 04:17 AM
If you are considering selling your Long Island home as a short sale, there is certain information you will need to have. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it. Here are some tips and strategies for homeowners that may be facing a short sale. 1. Hire a qualified … (3 comments)
peter j goodman: Big Break For First Time Homebuyers!
- 03/09/09 04:16 AM
While in office, President Bush signed the Economic Recovery Act of 2008 which provides a $7,500 Homebuyer Tax Credit that will be available for qualified purchases between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan). The IRS has issued a new Form 5405, First-Time Homebuyer Credit to incorporate provisions from the recently enacted American Recovery and Reinvestment Act. Under the new law, qualifying taxpayers who buy a home this year before December 1 can claim up to $8,000, or $4,000 for married individuals filing separately, on either … (3 comments)
As you may know, on February 18, 2009 the Obama Administration announced the Making Home Affordable (MHA) Program, a comprehensive plan to stabilize the US housing market and offer assistance to up to 7 to 9 million homeowners by reducing mortgage payments to affordable levels and preventing avoidable foreclosures. Part of this plan includes a Short Sales/Deeds-In-Lieu Program as a foreclosure alternative.;)
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