Tax Credit
After a close brush with the deadline, Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension the new closing deadline for eligible transactions is now September 30, 2010. There is will be no gap between June 30 and the date the President signs the bill into law.
NAR worked closely with Congressional leaders on both sides of the aisle to enact this important legislation. Extending the Tax Credit Closing deadline will help provide additional stability to real estate markets across the nation.
For additional information on the extension visit www.realtor.org/government_affairs
NFIP
Additionally, the United States Senate has passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569) an extension of the National Flood Insurance Program until September 30, 2010. This will allow transactions to move forward. The bill is retroactive and covers the lapse period from June 1, 2010 to the date of enactment of the extension.
For more information on the flood insurance program visit www.realtor.org/government_affairs
Wednesday, June 30, 2010
Friday, June 25, 2010
Thursday, June 24, 2010
Repost from ActiveRain
FANNIE MAE BRINGING DOWN THE HAMMER ON STRATEGIC DEFAULTS
Fannie Mae announced today that they will make people who can make their payments and who do a strategic default will make them wait seven years before they are eligible for a Fannie Mae loan. It is estimated that there are 11 million homes acros America who are under water. That means the home owner owes more on the mortgage than the current market value of the home. We are facing the worst real estate bubble in the history of this county. There were predictions that we could have up to 21 million households upside down in their house in three years. I believe Fannie Mae is taking an early position to make people think twice before they perform a strategic default.
DEFINITION OF A STRATEGIC DEFAULT
This is when a home owner is walking away from their mortgage that they could pay but have decided not to because they owe more than their house is were worth at the current time. Home owners are not seeing any hope. So, their ideal suggestion is to give up and start all over.
Furthermore, Fannie Mae stated that they will pursue deficiency judgments in states that allow this by law. Please contact Harry D'Eliato learn more about your option in Arizona. Do you want to be on this list? Strategic defaults are continuing to rise because people have lost hope in the American Finance Machine. People on Wall Street continue to receive big bonuses at Christmas time and the American home owner is losing their home. Where is the balance? Who is monitoring Wall Street?
Fannie Mae will look at each hardship as it crosses it desk. A person with an acceptable hard ship or an approved short sale will only have to wait two years before obtaining a mortgage backed by Fannie Mae. Another option for home owners is to sign over their house in a "deed in lieu of foreclosure" to avoid a lengthy foreclosure process.
Statistics show that 7 out of 10 people who were foreclosed on their home did not seek a real estate professional for assistance. The Real Estate and Beyond Teamis here to serve the Phoenix, Arizona. We have professional lawyers, CPAs and tax attorneys waiting to assist you during your time of need. Would you like to know your options? If you cannot sleep at night, then please contact Harry D'Elia.
Harry D'Elia recently acquired another Realtor Designation-
CERTIFIED SHORT SALE NEGOTIATOR (CSSN)
FANNIE MAE BRINGING DOWN THE HAMMER ON STRATEGIC DEFAULTS
Fannie Mae announced today that they will make people who can make their payments and who do a strategic default will make them wait seven years before they are eligible for a Fannie Mae loan. It is estimated that there are 11 million homes acros America who are under water. That means the home owner owes more on the mortgage than the current market value of the home. We are facing the worst real estate bubble in the history of this county. There were predictions that we could have up to 21 million households upside down in their house in three years. I believe Fannie Mae is taking an early position to make people think twice before they perform a strategic default.
DEFINITION OF A STRATEGIC DEFAULT
This is when a home owner is walking away from their mortgage that they could pay but have decided not to because they owe more than their house is were worth at the current time. Home owners are not seeing any hope. So, their ideal suggestion is to give up and start all over.
Furthermore, Fannie Mae stated that they will pursue deficiency judgments in states that allow this by law. Please contact Harry D'Eliato learn more about your option in Arizona. Do you want to be on this list? Strategic defaults are continuing to rise because people have lost hope in the American Finance Machine. People on Wall Street continue to receive big bonuses at Christmas time and the American home owner is losing their home. Where is the balance? Who is monitoring Wall Street?
Fannie Mae will look at each hardship as it crosses it desk. A person with an acceptable hard ship or an approved short sale will only have to wait two years before obtaining a mortgage backed by Fannie Mae. Another option for home owners is to sign over their house in a "deed in lieu of foreclosure" to avoid a lengthy foreclosure process.
Statistics show that 7 out of 10 people who were foreclosed on their home did not seek a real estate professional for assistance. The Real Estate and Beyond Teamis here to serve the Phoenix, Arizona. We have professional lawyers, CPAs and tax attorneys waiting to assist you during your time of need. Would you like to know your options? If you cannot sleep at night, then please contact Harry D'Elia.
Harry D'Elia recently acquired another Realtor Designation-
CERTIFIED SHORT SALE NEGOTIATOR (CSSN)
Wednesday, June 23, 2010
Wednesday, June 16, 2010
ALWAY REMEMBER- HAD TO SHARE
HOW TO STAY YOUNG
1. Throw out nonessential numbers. This includes age, weight and height. Let the doctors worry about them. That is why you pay 'them'
2. Keep only cheerful friends. The grouches pull you down..
3. Keep learning. Learn more about the computer, crafts, gardening, whatever. Never let the brain idle. 'An idle mind is the devil's workshop.'
4. Enjoy the simple things.
5.. Laugh often, long and loud. Laugh until you gasp for breath.
6. The tears happen. Endure, grieve, and move on. The only person, who is with us our entire life, is ourselves. Be ALIVE while you are alive.
7. Surround yourself with what you love , whether it's family, pets, keepsakes, music, plants, hobbies, whatever. Your home is your refuge.
8. Cherish your health: If it is good, preserve it. If it is unstable, improve it.. If it is beyond what you can improve, get help.
9. Don't take guilt trips.. Take a trip to the mall, even to the next county; to a foreign country but NOT to where the guilt is.
10. Tell the people you love that you love them, at every opportunity.
AND ALWAYS REMEMBER:
Life is not measured by the number of breaths we take, but by the moments that take our breath away.
1. Throw out nonessential numbers. This includes age, weight and height. Let the doctors worry about them. That is why you pay 'them'
2. Keep only cheerful friends. The grouches pull you down..
3. Keep learning. Learn more about the computer, crafts, gardening, whatever. Never let the brain idle. 'An idle mind is the devil's workshop.'
4. Enjoy the simple things.
5.. Laugh often, long and loud. Laugh until you gasp for breath.
6. The tears happen. Endure, grieve, and move on. The only person, who is with us our entire life, is ourselves. Be ALIVE while you are alive.
7. Surround yourself with what you love , whether it's family, pets, keepsakes, music, plants, hobbies, whatever. Your home is your refuge.
8. Cherish your health: If it is good, preserve it. If it is unstable, improve it.. If it is beyond what you can improve, get help.
9. Don't take guilt trips.. Take a trip to the mall, even to the next county; to a foreign country but NOT to where the guilt is.
10. Tell the people you love that you love them, at every opportunity.
AND ALWAYS REMEMBER:
Life is not measured by the number of breaths we take, but by the moments that take our breath away.
Friday, June 11, 2010
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