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January 2010 Blog Posts (17)

Immediate Tax and Addendum Changes on Short Sales

Urgent Tax Issue Affecting SHORT SALE Transactions





On Thursday January 21, it was brought to the attention of PGCAR that the Prince George's County Department of Finance has taken the position (similar to Montgomery County and Anne Arundel County) on short sale transactions to impose recordation and transfer taxes on the total dollar amount of outstanding debt. This is contrary to the customary practice of applying these taxes to the consideration paid or contract price.… Continue

Added by Short Sale Guru on January 25, 2010 at 7:30pm — No Comments

Example of a How Short Sales Works...



Example #1



On 4/22/09, I received an email about a client being LATE on her mortgage and wanted to know her options. We discussed Loan Modifications and Short Sales. She was turned down from her bank to do a Loan Modification so we entered into a listing agreement in May 2009 to do a Short Sale. The seller had two mortgages which totaled $648,257.52 ($517,441.83 = First trust; $130,815.69 = Second trust). When we met, the… Continue

Added by Short Sale Guru on January 25, 2010 at 7:12pm — No Comments

Conquering Fear in Heart & Soul Magazine

Right at Home DC is in the news in the national Heart & Soul magazine.





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Page 2…



Continue

Added by Brian Turner on January 22, 2010 at 7:50am — No Comments

Does it make sense to remain underwater?

Does it make sense to remain underwater?

by Brian Turner







It's 2004, and you are planning to move up to buy your dream home. You and your husband each sold your home a few years back and you both made a good amount of money off the sale of both homes. You decided to rent for a few years to make sure you had enough money to make a significant down payment. It is now time to buy the home you will live in for the rest of… Continue

Added by Brian Turner on January 22, 2010 at 7:00am — 1 Comment

FHA To Toughen Down Payment Rules

FHA ANNOUNCES POLICY CHANGES TO ADDRESS RISK AND STRENGTHEN FINANCES



New Measures Will Help FHA Better Manage Risk, While Maintaining Support for the Housing

Market and Access for Underserved Communities








WASHINGTON – Federal Housing Administration (FHA) Commissioner David Stevens today

announced a set of policy changes to strengthen the FHA’s capital reserves, while enabling the

agency to… Continue

Added by FHA203K Specialist on January 20, 2010 at 2:30pm — No Comments

Has Prince Georges County NSP program run out of money?





In the past day or so, I received numerous emails that the Prince Georges Neighborhood Stabilization Program (NSP) is set to close its doors in the spring 2010. Is this true?



Here are a few of the emails I received:







"We've been told that NSP is about to run out of money.

They've currently used 85% of the money allocated for the program, and should be "dry" by Spring…
Continue

Added by Brian Turner on January 20, 2010 at 9:28am — 1 Comment

How First Time Home Buyer Loans Work

How First Time Home Buyer Loans Work

Advantages and Disadvantages of First Time Home Buyer Loans

By Justin Pritchard







First time home buyer loans allow buyers to get into a house more easily. However, just because you’re a first time home buyer doesn’t mean you should use a first time home buyer loan. These programs have restrictions and strings attached. While they are a perfect fit for some, first time… Continue

Added by BBT Real Estate Group on January 20, 2010 at 9:00am — No Comments

Tax help in caring for an aging parent

Tax help in caring for an aging parent

By Kay Bell







They took care of you for years. Now it's your turn.



Millions of adult children find themselves looking after aging parents. Tax laws offer some help, as long as you and your folks meet the criteria.



The key to Internal Revenue Service assistance in caring for an elderly…

Continue

Added by Right at Home DC on January 19, 2010 at 6:30pm — No Comments

New Coalition to Lead the Fight for Responsible Regulation of Medical Marijuana Dispensaries, Growers and Caregivers

With Colorado legislators set to convene the sixty-seventh General Assembly, a new coalition—the Sensible Patient and Provider Coalition (SPPC)—has formed to lead the fight for responsible regulation of medical marijuana dispensaries, growers and caregivers.



The coalition, made up of Colorado’s leading medical marijuana organizations, represents the middle ground in the debate over regulation of medical marijuana.



With its mix of… Continue

Added by Matt Brown on January 18, 2010 at 5:16pm — No Comments

Beware of Short Sale Fraud

Big Banks Accused of Short Sale Fraud

By: Diana Olick









Just as regulators, lawmakers and all forms of financial oversight boards are talking about new regulations to guard against mortgage fraud and another mortgage meltdown, there appears to be yet a new mortgage fraud out there today, allegedly perpetuated by agents of, yes, the big banks.



I was first alerted to this by Jeremy Brandt, the CEO of… Continue

Added by Short Sale Guru on January 15, 2010 at 8:17pm — No Comments

The Feds Are Pushing Short Sales in a BIG Way

The Feds Are Pushing Short Sales in a BIG Way







Short Sales and Deed in Lieu of Foreclosure (commonly referred to as Cash for Keys) have received major attention on the Hill.



The Feds are stepping in AGAIN, perhaps to the advantage of everyone...homeowners, buyers and the real estate community.



In an effort to curtail foreclosures, the Feds have introduced HAFA,… Continue

Added by Short Sale Guru on January 14, 2010 at 5:30pm — No Comments

The Faces of Medical Marijuana

They live with cancer, multiple sclerosis, severe digestive and neurological disorders, constant pain and other devastating conditions. For some, allergies prohibit traditional painkillers. For others, traditional western medicine has had no impact – or worse – has actually exacerbated their condition. For each, medical marijuana gives them back their life. They are the faces of medical marijuana.



Whether serving as a painkiller,… Continue

Added by Matt Brown on January 12, 2010 at 1:47pm — No Comments

Do you know someone late on their mortgage or underwater?

Do you know someone that is late on their mortgage, underwater, or just want to GET OUT and START OVER? PLEASE SHARE THIS MESSAGE WITH THEM. They have tried to do a Loan Modification with the bank, and the bank said "NO" for no apparent reason. Well before just walking away, consider doing a Short Sale.









For all the homeowners who are upside down and can no longer make their mortgage payment (because of either a job loss,… Continue

Added by Short Sale Guru on January 11, 2010 at 3:07pm — No Comments

Approved Short Sales - 1.8.10



Price: $330,000

Bedrooms: 5

Bathrooms: 3 full, 1 partial

Parking: 2-car garage




SHORT SALE APPROVED! Like 'NEW' for 'LESS', CAN GO TO SETTLEMENT THIS MONTH. gourmet kitchen, granite cornertops, sunroom; master BR suite w/sitting room, fireplace, fabulous BA & private balcony. Fully finished walkout basement w/ bar, spa, sauna & super shower, media room, and rec room. File is being negotiated by… Continue

Added by BBT Real Estate Group on January 9, 2010 at 12:29pm — No Comments

Right at Home in the national news in Heart & Soul magazine

Right at Home DC is in the news in the national Heart & Soul magazine.





Page1





Page 2…



Continue

Added by Right at Home DC on January 8, 2010 at 2:03pm — No Comments

What follows a decade of boom and bust?

Real estate review and predictions: What follows a decade of boom and bust?

By Renae Merle

Saturday, January 2, 2010









The U.S. housing market has been in a slump for nearly four years. Home prices have fallen 30 percent since reaching their peak in 2006, leaving nearly a quarter of borrowers owing more than their homes are worth. Millions of homeowners have fallen into foreclosure.



So what will… Continue

Added by BBT Real Estate Group on January 4, 2010 at 6:43am — No Comments

Home Care Helps Protect Seniors Against Falls

Home Care Helps Protect Seniors Against Falls







According to a recent report from the Agency for Healthcare Research and Quality, each year one third of all elderly adults experience a fall. Falls are responsible for more fatal injuries among seniors than any other cause. And seniors who wish to stay in their own homes have good reason to be concerned…

Continue

Added by Right at Home DC on January 4, 2010 at 6:00am — No Comments

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