Archive for September, 2008
Orlando Short Sale Info Sheet
Wednesday, September 24th, 2008Borrowers Name: _________________________ DOB _________
Borrower #2: ____________________________________
Social Security Number: B#1: ____________ B#2: ____________
Loan Number: _____________________________________
Lender Name: ________________________________________
Lender Phone: _______________________________________
Loan #2 Number: __________________________________________
Lender #2 Name: ____________________________________
Lender #2 Phone: _________________________________________
Subject Property Address: ____________________________
___________________________________________
Borrower Mailing Add: _____________________________
Borrower Phone Associated with Loan: __________________________Lender #1 Short Sale Package List: __________________________
__ Lender #2 Short Sale Package List: _______________________
__ 1. Most recent […]
Orlando FHA News Alert Regarding Seller Paid DPA
Saturday, September 20th, 2008The House Financial Services Committee adopted H.R. 6694, legislation designed to reauthorize and reform down payment assistance programs that the Bush Administration banned in July.
A last-ditch effort to head off the Oct. 1 ban on the use of seller-funded down-payment assistance with FHA-backed loans is picking up steam as a compromise bill that would mend […]
Orlando Short Sale Specialist shares FAQ’s
Thursday, September 18th, 2008Below are my Orlando Short Sale FAQ’s
What is a Short Sale?
A short sale is when the lender will accept less than the full amount due on a mortgage
when a property is sold. Usually, the lender will accept the short sale to avoid the time
and expense of a foreclosure. Financially the lender is actually ahead after […]
Short Sale Riches System, How to Make Big Money on Short Sales
Tuesday, September 16th, 2008This is completely new. And I’m excited.
But you’ve got to move on this fast!
I just discovered that Chris McLaughlin and
Nate Jurewicz created a complete “autopilot”
real estate system that puts money in your
pocket … and you hardly have to do a thing.
Seems hard to believe. But they got PROOF.
In fact, Nate loves to brag how […]
New Tax Law 2008 re; Real Estate Home purchases in the Orlando Area
Monday, September 15th, 2008
Included in H.R. 3221, the Housing and Economic Recovery Act of 2008, were numerous additions, and amendments to real estate tax rules. Below is a brief summary of the tax provisions that were part of H.R. 3221.
Low-Income Housing Tax Credit
Temporarily increases the volume cap for low-income housing tax credits for 2008 and 2009.
Homebuyer Tax Credit
The […]
Orlando Real Estate Market nears bottom
Tuesday, September 9th, 2008Median Sales Price for homes in the Orlando area as we all know has decreased significantly. Everyone is asking, where’s the bottom. Well, I’ll be the first to say that I see the bottom. I will go on record to say that we’re almost there.
I pulled this trend chart from Trulia and it represents the […]
Buyer Advise for an Orlando or Windermere Fl. Short Sale
Saturday, September 6th, 2008Buyers:
1. First understand that this process may take 90 days after you’ve submitted your offer. Don’t go into a short sale if you have a specific timeframe that you must have the home closed.
2. Understand that there are no guarantees in a Orlando short sale.
3. The lender may require more cash or a higher price […]
Tax Consequences on your East Orlando Short Sale, Waterford Lakes or Avalon Park
Wednesday, September 3rd, 20081. First and foremost I would always recommend anyone considering a short sale in the Orlando area to talk to your tax advisor first.
2. I posted in my FAQ’s on short sales the following:
Is the seller going to get hit with a tax bill or a 1099 if you do a short sale?
Upon successfully closing […]
Orlando Short Sale Sellers considering a short sale
Monday, September 1st, 20081. Your credit score may fall 100 points or more.
2. You may be asked to sign a note or take a new loan for the amount of the short fall.
3. The lender may get a judgement against you for the amount of the short fall.
4. You may have to pay income taxes on the amount […]