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Nov 232011
 

Why a short sale May Be Right for You

With only a year left in the Mortgage Forgiveness Debt Relief Act and Debt Cancellation, the clock may be ticking on your home. If you are facing foreclosure and are looking for a way out, our short sale seminar can provide you with the tools you need to avoid foreclosure and sell your home. There is no doubt that it is a tough real estate market and that many sellers are having trouble finding buyers for their homes. While short selling your home may seem undesirable, it is actually a much better option than simply walking away from your property.

Why the Banks Want You to Short Sell Your Home

The tough economy has made short selling your home easier than ever before. The banks are overloaded with repossessed properties and are unable to sell the ones they have. To make matters worse, once a bank has taken possession of a house, it must pay for upkeep and clean-up throughout the period it remains unsold. The large number of foreclosed homes that remain boarded up and abandoned are becoming a liability for the banks and they would rather allow you to short sell your home, forgiving part of your debt, than take on another foreclosure.

Foreclosures have become such a liability for the banks, that many have started offering incentives to encourage debtors to short sell their homes. If you have kept your house in good repair, you may qualify for a settlement from the bank. Banks have been known to offer up to $20 000 at the completion of a sale, so long as the house is kept in good condition and nothing is removed from the property.

Why You Should Attend Our short sale Seminar

In spite of the Banks’ incentives, the short sale application process can be tricky if you do not know what you are doing. At our seminar, we will answer your questions about foreclosure and short sales and give you the tools you need to get the best deal from the banks. The media is full of false information regarding the state of the economy and the housing market and we will teach you how to tell fact from fiction, and how to avoid the multitude of scams that target homeowners facing foreclosure. Our seminar will cover:

– How to separate reality from myth in the media
– How to avoid scams
– Federal programs made to help homeowners
– And much more…

If you are a homeowner and you are facing foreclosure, stay tuned for our short sale seminar on November 17th to find out what your options are!

Sep 142011
 

TIME IS RUNNING OUT!

The Mortgage Forgiveness Debt Relief Act and Debt Cancellation expires on December 31, 2012!!!

If you are still contemplating if a short sale is best for you, please contact:

LINDA MARTIGNETTI  954-464-5434 or

KEVIN HALE (CONSUMERS FIRST TITLE) 954-340-5150

for a FREE CONSULTATION!

Mortgage Forgiveness Debt Relief Act and Debt Cancellation

 

Under federal law, a creditor is required to file a Form 1099-C whenever it forgives or cancels a loan balance greater than $600. This may create a tax liability for the debtor because the canceled debt is considered “income” for tax purposes.

However, the Mortgage Forgiveness Debt Relief Act of 2007 provides tax relief for some mortgage loans forgiven in 2007 through 2012. The Mortgage Forgiveness Debt Relief Act of 2007 allows taxpayers to exclude income from the discharge of debt on their principal residence.

You qualify for the Mortgage Forgiveness Debt Relief Act if the home was your principal residence.

For more information about the The Mortgage Forgiveness Debt Relief Act and Debt Cancellation, go to the IRS website at:

http://www.irs.gov/individuals/article/0,,id=179414,00.html

For more information, email Linda at: Linda@FloridaHomesByLinda.com

You can also email Kevin at: khale@cftitleco.com

Sep 012011
 

Broward County Property values are at a record low, however, your property value may have been assessed too high and consequently you’re paying more than you should. I’ve recently been contacted by a company “My Fair Share” that will work to lower your taxes if you qualify. The taxes will not only be lowered the first year, but every year you stay in your home. Best of all, there’s no risk in trying. They only charge a fee if they save you money. They appeal for you. Of course, you can do this yourself, but if you are like most people, you just don’t have the time or energy to fight the system. It may be worth it to you to let the experts do it on your behalf.

You should appeal your taxes if:

1. You recently acquired your residential property in the past 2 years.

2. Your Assessment has increased from last year.

3. Your property has physical damage from fire, weather, age or similar.

4. Property has been recently improved or remodeled.

5. You haven’t filed the exemptions you are entitled to (there are over 25 different exemptions).

If you live out of town, the appraiser’s office doesn’t think you will take the time to challenge the assessment because of the time and effort. My Fair Share will put in the time and effort on your behalf. They pay the filing fees as well. And if they don’t win, there is absolutely no charge to you. They go to the hearings and petition on your behalf and only bill you when they win. The fee is 50% of your first year’s savings. They have a 98% success rate since inception.

My Fair Share consists of trained property tax specialists with over 25 years of experience. Please visit their website for more information or for a free evaluation of your property taxes. www.MyFairShareFL.com

Appeals can only be filed during a certain time each year – Don’t miss out! Either your taxes are fair or you can have a petition filed to get them lowered (at no cost to you unless they win a reduction).

Jun 062011
 

by Joseph Hillner

Going house shopping? In today’s market seeing homes wlthout an approval may cause some issues. Sellers will often ask a buyer is approver befoe allowing a showing of their home. For each showIng a seller has to up root their family, pets,etc. They have to clean and find something to do during the showing. They want to make sure a buyer is approved before golng through all of these inconveniences to show their home.

Online calculators are notorlously inaccurate and often set wrong expectations. You may be looking in the wrong pricee range… Too low you might be disappointed. Too high you’ll definitely be disappointed!

Before you go home shopping getting a credit check and free credit scoreanalysis, will position you for the best products, rates and the lowest cost. It’s always best to know what is on your credit report and understand its impact on your ability to buy. If there is something that needs to be corrected and you cannot buy right now, we can assist and helping you improve your credit standing.

Untie the knot of mortgage confusion. We provide a First Tlme Home Buyers’education program. Knowiedge is key in an ever changing market. Part of any approval process should be educadon. “What makes up a payment?” “How much down payment money do I need?” “How much can I afford?” We answer all of these questions and more. Our goal to to make you feel comfortable.

Your goals and your budget are tremendously important components of the home buying process. We can help you set up budget and savings goals, examine loan benefits and explore other financial considerations with you.

Jun 022011
 

by The Martignetti Group
Leave The Stress of Moving Behind

Ocean Trust Realty’s Home Services & Move Coordinator

A Complimentary Service

Personal AttentionProfessional Service
Moving can be one of the most stressful times in your life. Let the complimentary OneSmartMover service take care of the details for you. Your personal move coordinator will schedule and arrange all of the home services you need.

Moving Service

Moving Service

Television
Carpet Cleaning
High Speed Internet
Gas
Phone Service
Electric
Home Security
Appliances
Pest Control
Sears Products
Lawn Care
Locksmith
Moving Services
Insurance
Pool Service
And much more..

Let us save you time and money by calling today.

One call does it all…

Your personal coordinator will contact you prior to your closing date so your home will be move-in ready from day one. You may contact us at your convenience to get started today.

866-633-9877

Service Provided as a Courtesy to our Valued Customers

Personal Attention Professional Service

OCEAN TRUST REALTY, LLC
Your Local, Real Estate Company

OCEAN TRUST REALTY, LLC

We are your total moving resource service.

onesmartmover

Apr 252011
 

Borrowers purchasing a Fannie Mae property through HomePath may now receive closing cost assistance of up to 3.5 percent. In order to be eligible for this incentive, the initial offer must be submitted after April 11, 2011 and the close of the sale must occur on or before June 30, 2011. Qualified buyers must reside in the house and investor sales are excluded. While pool and auction sales are not eligible for this buyer-assistance offer, retail and public entities are eligible.

A similar 3.5 percent subsidy was rolled out by the government-backed mortgage firm in January 2010. The program has seen considerable success and has therefore extended or restarted the program multiple times. HomePath.com lists all Fannie Mae-owned REO properties. Community and school information, detailed property descriptions and photographs are included in most listings. Special HomePath Renovation Mortgage and HomePath Mortgage financing is available for many Fannie Mae properties. Homebuyers are offered an opportunity to purchase the property with as little as 3 percent down with this financing.

If you want more information about Fannie Mae REO properties or other real estate questions, contact me, Linda Martignetti, and let me help you with your Southeast Florida real estate decisions!

Apr 202011
 

In a new poll conducted by Harris Interactive, a prominent firm in the market research industry, approximately 22% of all homeowners have trouble getting their mortgage payments in on time. An additional 7% are able to meet their deadline, but have difficulty doing so.

If you find yourself in this situation or know someone else, give me a call to discuss your options or contact me via email! Remember, the worst thing you can do is nothing!

Harris Interactive also found that approximately 21% of homeowners wonder if their mortgages are in the underwater category. This term is used to describe homes that are so devalued their mortgages do not cover the amount owed. As the economy continues to sour, a greater number of homeowners are beginning to meet such a classification.

The poll also revealed that mortgages are declining. In 2010, 69% of adults possessed mortgages; in 2011 that figure dropped to 66%. This indicates two trends: people are not only losing their homes, but they are also failing to buy anything new. This is despite the fact that there are a greater number of cheap homes on the market.

However, when it comes to individuals experiencing difficulty with their mortgage payments, there is a decline between the figures obtained in 2011 and the ones acquired in 2010.

Unfortunately, Harris Interactive feels it is too early to determine whether there was genuine improvement. foreclosure could be a prominent reason as to why the stats are getting lower.

Even still, the stats do indicate a somewhat slow recovery. This is because they match additional data Harris Interactive collected in another study.

In terms of numbers, 3,171 adults were polled during this latest study regarding mortgage payments. The poll occurred in March of 2011, and it lasted 7 days. Researchers did not calculate the possibility of error because all of the respondents participated of their own free will. No payment or other incentives were given, which further solidifies the truthfulness of the data. Respondents answered each question out of their own volition.