February 2009

First Time Home Buyer Tax Credit (Up To $8,000)

Tuesday, February 17th, 2009 at 5:22pm. 1368 Views, 1 Comments.

Great News!  First Time Home Buyers will get up to $8,000 Tax Credit if you purchase a principle residence on or after January 1, 2009 and before December 1, 2009.  The best part is the $8,000 credit is it doesn’t have to be repaid!

For the past month or so I have been getting a lot of calls about this credit and now it passed, it is the time to take advantage of this credit.  If you are interested in buying a home and would like to take advantage of this credit, please let me know.  Even if you are not ready to buy now but maybe in 3-6 months, let’s get you prepared because you still have until December 1st!

We can have a quick meet and greet at my office to discuss your goal.  Feel free to call me at 858-349-2390 or contact me…

FAQs on Buying a Bank Owned Foreclosure

Monday, February 16th, 2009 at 2:36am. 427 Views, 1 Comments.

This is just a quick Blog on Frequent Asked Questions on Buying a Bank Owned Foreclosure on the MLS.  If you have a question that isn't on here, please let me know.

Is the Asking Price the Starting Bid?

No, it is just the Asking Price.  You can offer whatever you want.

Is the process of Buying a Bank Owned Foreclosure long?

No.  Once you make an offer, the average time for the Bank/Seller to respond is 3-5 days.  Then once accepted, 30 day Escrow.  This isn’t like a Short Sale where you make an offer and may have to wait a couple of months for a response on your offer.

What is the main difference from Buying a Bank Owned Foreclosure versus a Conventional Seller?

The Bank/Seller is Exempt from certain disclosures.  They really…

100% Financing!?!

Wednesday, February 11th, 2009 at 2:25am. 332 Views, 0 Comments.

A Blog about VA Loans by Shelly Heimer with The Lenders Group

VA guaranteed loans are made by lenders and quarantined by the U.S Department of Veterans Affairs (VA) to eligible veterans for the purchase of a home. The guaranty means the lender is protected against loss if you fail to repay the loan.

VA does not require a down payment and the borrower usually receives a lower interest rate than is ordinarily available with other loans.

Other benefits of a VA loan include:

·         Negotiable interest rate (IRRL)

·         Closing Cost Comparable – sometimes lower –than other financing types.

·         No private mortgage insurance

·         Right to prepay loan without penalties

·         Mortgage can…