If you are ‘Upsidedown” on your motgage, there are 2 BIG reasons to Short Sell in 2012… and they both could save you THOUSANDS of $$$$! 1. The Mortgage Forgiveness Debt Relief Act of 2007 is set to EXPIRE at the end of 2012. Without this law in place , short sellers (and people who [...]
Why Buy NEW Now?
If you are wondering how you can take advantage of this phenomenal “sale” we are having on Real Estate right now… if you still have some equity, but don’t need to move up or down, you may want to consider moving OVER to a NEW home! Why? 1. There are amazing deals to be had in the new home [...]
Read the full article →Refinance Program for Underwater Mortgages!
Well, it looks like the Feds may have finally come up with something that MIGHT just help some people… a refinance program for homeowners that are A LOT underwater! In the past, you only had the possibility of refinancing if you were a maximum of 125% underwater. Unfortunately, MANY local area homeowners are much more [...]
Read the full article →Underwater Homeowner Solutions Workshop!
If you, or someone you know is “underwater” in their home mortgage (they owe more than their home would sell for)… don’t miss our 3rd Underwater Homeowner Solutions Workshop November 10th, 6:30 – 8pm Call 916-768-8557 for Location We have had VERY positive feedback on the first 2 Workshops we’ve had, and want to share [...]
Read the full article →Are prices still declining?
All you have to do is look at this chart to know the answer to this question. Unfortunatley, yes, prices in our area are still declining, or at least they did from last year to this year. Of course, we never know what will happen starting next month. Also, by looking at the chart you can [...]
Read the full article →Lowest Mortgage Rates…EVER…EVER…EVER….!!!!
Wow! When I got this rate update from one of our preferred lenders this afternoon… I just about fell off my chair!! We have NEVER seen rates this low and don’t know if we ever will again! So what does this mean to you? It depends…. If you are thinking of buying a home to [...]
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If you are ‘Upsidedown” on your motgage, there are 2 BIG reasons to Short Sell in 2012… and they both could save you THOUSANDS of $$$$!
1. The Mortgage Forgiveness Debt Relief Act of 2007 is set to EXPIRE at the end of 2012. Without this law in place , short sellers (and people who lose their home in Foreclosure) are liable to pay taxes on the amount of debt the lender “forgives”! This means that if you owe $400K on your house and you can only sell it for $250K in a short sale, the $150K that th lender “forgives” you is treated as INCOME according to the IRS. So, depending on your tax bracket, you could owe Uncle Sam nearly $50K in taxes!
2. You will still be “Re-Purchasing” at the bottom. We could start to see ”normal” price appreciation in two to three years from now. This means that we could see 3 – 5% increases in prices in our area… not enough to not be upsidedown anymore… but enough that if you wait until even next year to Short Sale, you may be re-purchasig when prices are 5 – 10% higher, because current guidlines call for a 2 - 3 year “waiting period” before you can re-purchase. So “hit the RESET button” in 2012 and still get a great deal on a new home in 2014 or 2015!
If you have any questions about Short Sales… how they work, who is eligible, etc… please give us a call! We have successfully closed 12 Short Sales in the last year, and although every one is different, we have experience working with many different lenders and navigating the many possible varibles a Short Sale can present.
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Super excited to share this amazing deal in Whitney Oaks. The homes in this pocket neighborhood don’t come available very often, and WON’T LAST LONG. Live in the beautiful Golf Course Community of Whitney Oaks with some of the finest schools in Rocklin. Cash flow investment property or starter home. 2,068sf, 3bed plus loft for 266k in exclusive Whitney Oaks!!! Call today for more information or for a private showing.
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