Help Continues

As reported by National Association of Realtors:

“The package of tax extensions approved by the U.S. House and Senate, and headed to the President’s desk for signature, includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014. NAR applauds Congressional leaders in both chambers for their effort to pass this legislation before adjournment.

“Realtors® strongly supported the bipartisan Mortgage Forgiveness Tax Relief Act, which was included in the package to prevent underwater borrowers from paying taxes on any mortgage debt forgiven or cancelled by a lender in a workout or after their home was sold for less money than was owed. We are grateful to Sens. Debbie Stabenow, D-Mich., and Dean Heller, R-Nev., and Reps. Tom Reed, R-N.Y., and Charlie Rangel, D-N.Y., for championing the provision.

“The legislation also includes one-year extensions of the 15-year depreciation schedule for leasehold improvements and the deduction for improvements to energy efficient commercial buildings.”

 

Everyone Wants a "Deal" – Could a Foreclosure be Your Answer?

Below is a clip from the article…good information to keep in mind when looking to pickup that “bargain” home!

 

“Four Warning Signs to Watch for When Buying a Foreclosure”

Matthew Frankel  Source: Respres.

Over the past several years, many people have gotten great deals on homes because of foreclosures. While the inventory of foreclosed homes in the market is not nearly what it was a few years ago, there are still many to be found. In fact, in some areas, the foreclosures from the 2008-2010 period are just now making their way through the court system and appearing on the market.

In the right situation, a foreclosure can be an excellent way to obtain your dream home at a much better price than you would expect.  Buying foreclosures can also be an great way to acquire investment properties, as many foreclosures are duplexes, triplexes, and smaller single-family homes that can become lucrative rentals.

Even though foreclosed homes can be a good deal, they definitely carry their own issues and risks that buyers need to be aware of. Let’s break down a few of these and see if they should affect your decision on whether to buy the property or not.

CLICK HERE FOR FULL ARTICLE

Fair Housing Information

It was truly an honor to be selected for The Marie Kindrick Fair Housing Award at this year’s Miami Valley Fair Housing Wrokshop.  I enjoy working with people who are searching for their next “home” whether that would be a rental or purchase; but importantly, I want to help ensure that it is Affordable and What They Want / Need.

So we are often asked many questions – and this post is to provide some of those answers, as well as to provide websites, links and expert advice regarding Fair Housing.

Fair Housing Tips Disabilities

About Fair Housing with Children

Service Animal Policies

MVFHC brochure

Agencies for Fair Housing Issues

Avoid Predatory Loans

Loan Modification Scam Alert

It Takes Thinking Outside "the Box"

Personally, whenever there is a dilemma, a situation that just seems to overwhelm the current situation, I find that “thinking outside the box” is a good way to step back and get a better perspective as to the real issue and find a resourceful way to solve things.  This article in the Cleveland Plain Dealer has some excellent points that the Cleveland area is using to solve vacant home, foreclosure and abandoned homes…

Here are a few clips from the article I think should resonate for other areas:

“A challenge of that magnitude requires a diverse response that combines strategic use of limited demolition dollars as well as innovative rehab…

Other successful land bank initiatives include the Owner Occupant Buyer Advantage Program, which has put handy homeowners willing to invest sweat equity into about 150 properties, according to Frangos.

There will never be enough demolition dollars to raze every abandoned property — nor should that be the goal. Luring private investments with creative approaches, as the loft-conversion project aims to do, is one way to make an impact in blighted neighborhoods.”

Click Here for FULL ARTICLE

Tired of not having " the score?"

I have worked with buyers who have been diligent about doing their credit repair, paying their bills and ultimately doing “everything right” for them to still hear they don’t have a high enough credit score to buy yet. Well, I am YOUR advocate and I am personally bringing a non-profit group to OUR area so that you CAN get a loan. And what’s even better, the fixed rate is a low interest rate current about 3.75% and calculated for a 30 year period. There is NO Down Payment required (but if you want to put money down you can) and the closing cost is very low (Prepaids and insurance only.)

How can this be? Well they are a national organization who is given money to make loans. Unlike the banks, they work with you irregardless of what your credit score is. Do you have income? What is your bill paying history? If you can answer those questions – you NEED to attend our workshop!

NACA Workshop flyer

We have set the date for their introduction to Dayton as Saturday, November 10th and if you can spend from 1-4 pm with us – I can promise you will be glad you did. Hearing an alternative to the loan process is a good thing. I am working out the details of where this will be but should have the location confirmed this week. If you are interested in attending you have to let me know your name, phone number and email. That’s it – no charge, no obligation. If you know me – you know I am all about giving YOU the information you need to make the best decision for you!

 

News for those who may need to Short Sale

National Association of REALTORS released an update on August 16, 2012:

Extension of Mortgage Cancellation Relief Goes Forward

The Senate Finance Committee has crafted and sent to the full Senate a package that would extend the mortgage relief provision for an additional year, through Dec. 31, 2013.

The Senate was unable to act on the bill before adjourning for its August break and the party conventions. The Senate reconvenes on Sept. 10. Chairman Baucus (D-MT) had expressed a wish to finish this package before the election in order to provide certainty about the extension (or not) of more than 50 provisions. Nonetheless, it is not known if the package would also be considered in the House before the election.

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