Do I qualify for a Short Sale?

Do I qualify for a short sale? Okay, let's see. These are the general situations that your lender will look at to consider if you qualify for a short sale.

1. Job loss
2. Illness - loss of income and/or medical costs
3. Death
4. Divorce
5. Business failure (some investors may be considered here)
6. Natural disasters

If you are upside down with your mortgage and these qualifiers above do not apply, you may not be a candidate for a short sale. Being upside down is when you owe more than the current value of your home.

If you or someone that you know has a question or concern about foreclosure, please contact me. You do not want to go into foreclosure. This is financially and emotionally devastating. There are alternatives. Please call me!

Great Time to Buy Investment Property!

The prices are adjusting downward. There are more foreclosures and short sales available than last year. The rates are below 5%. The sellers are more negotiable. Go for it! When the prices start going up and the rates go up, you will think, "I should have bought back when...." That when is NOW.

If you have any questions about investments -- start asking! Real Estate has always been stable over the years. You need to diversify your portfolio to include it.

Tax Credits - Need to Purchase before April 30, 2010

Howdy! I'm back. Hey, the Tax Credits are a real bonus for buyers-first time and current owners. The first time buyer is defined as someone who has not owned in the last three years. We have had a lot of activity in the last two years with the $7500 and $8000 tax credits. Now the $8000 tax credit was extended for the first time buyers and that is great! The government also created the $6500 tax credit for current owners. This is new and fantastic! These two tax credits are available through April 30, 2010 (the purchase date). The closing has to occur by June 30, 2010. Please consider using this --it is free money! You need to check to see if you qualify and go for it! Try looking at http://www.irs.gov/ for more info! You can also google it or call your CPA!

Remember to contact me for any and all real estate needs! 850.545.9390 or Joan@JoanRaley.com. Hope to be helping you soon!