Your 1st Step to home ownership BLOG

The GO Zone deductibility period will end 2009- MUST COMPLETE CONSTRUCTION BY DEC 31ST 2009 AND CAN CLAIM IN 2010... READ MORE  Investors all across the United States have expressed interest in GO Zone property and the potential benefits it creates financially, but there is a lot of confusion abo...

Avoiding HUD Home Headaches: Tips On Buying HUD Foreclosures!  Bidding & Buying HUD homes-it seems to be the hot ticket in town.    However - Remember these key points to avoid problems and advise buyers: Only primary residence buyers allowed in the first round of bidding. Advise buyer that if ho...

Advertising Rules (Reg Z) for Real Estate Agents & Builders The updated Truth-In-Lending Rules apply if you quote down payments, payments, interest rates or points.  But wait, there's more!  These rules apply to all forms of advertising, including email blasts, flyers that you pass out at apartme...

Sell An REO by December 31, 2009-Get Home Steps TM Promo For Your Buyers! November 2009                                                                                            So what is it?  Freddie Mac HomeSteps will pay up to 3.5% of home sales price toward Buyer's Closing Cost 2 year HomeP...

FHA financing on Condo Projects is about to go from flood to trickle on December 7, 2009. These new guidelines announced in Mortgagee Letter 2009-19 will apply at that time: •·         The spot approval process for condominium projects is eliminated.  •·         All current condominium project ap...

FHA PROPERTY FLIPPING - FHA requires that: a) only owners of record may sell properties that will be financed using FHA-insured mortgages; b) any resale of a property may not occur 90 or fewer days from the last sale to be eligible for FHA financing; and c) that for resales that occur between 91...

  Home Buyer Tax Credit Extended, Expanded & Enhanced! Effective December 1, 2009 Its part of the HR 3548 Bill called Worker, Homeownership & Business Assistance Act of 2009-Section 11. Read the highlights-but always refer your clients back to their tax advisor for specific questions or unusual ...

BIG NEWS - TAX CREDIT- First Time Home Owners and Current Home Owners getting CREDIT as SENATE PASSES 85 to 2 and the House voted 403-12!! Obama's signature is the last stop! QUICK READ: The bill would extend and expand the $8,000 homebuyer tax credit through April 30, 2010. The bill would also ...