Jan

6

New Listing: 20550 Horseshoe Rd

Posted by Martha Story under For Buyers, Listings, Chester

Check out this new Single-family property that I just posted on my Web site. It is at 20550 Horseshoe Rd in Prince George. This Single-family property has 3 bedrooms and 2 baths.

Comments (0)

rss

Nov

23

11 Tips for Avoiding Foreclosure, Homeowner Options

Posted by Martha Story under For Buyers, For Sellers, For Realty Professionals, General Information

The most important strategy for avoiding foreclosure is to be proactive, contact your lender, read your mail, seek help, and  contact a Realtor and attorney for advice.  The sooner the better, allowing more time for a solution to be worked out.

1. Contact your lender & ask about Forbearance and Reinstatement plans to bring your loan current and maintain payments. 

2. If your situation is a temporary one, contact lender who may allow a Repayment plan, where you increase payments until missed payments are caught up. 

3. Refinance your current Loan with better rates and terms.

4. Modify your current loan with your Lender.

5. Rent your home & make mortgage payments to your Lender.

6. Sell your home & pay off the loan amount due.

7. Borrow money from a relative or friend to bring payments current.

8. Get protection under the Service Members Civil Relief Act(SMCRA).

9. Enter into a Deed in Lieu of Foreclosure “Friendly Foreclosure”.

10. File for Bankruptcy protection to stall the foreclosure process.

11. Sell your home in a “short sale” if the Lender agrees to accept a discounted payoff for the outstanding mortgage due, especially if the amount owed is more than the home’s worth.

Housing counselors available at Hud 1-800-569-4287.

Contact me for more information by email at realestatestory@yahoo.com or by phone at 804 357-6228.

Comments (0)

rss

May

9

The Making Home Affordable Program

Posted by Martha Story under For Buyers, General Information

The Obama administration has outlined two ways it hopes will bring relief to responsible homeowners under the Making Home Affordable Program, including an effort to achieve greater affordability for homeowners by lowering payments on their second mortgages as well as a set of measures to help underwater borrowers stay in their homes. 

At the heart of the Making Home Affordable Program are these two objectives

Parallel Second Lien Program to Help Homeowners Achieve Greater Affordability

Integration of Hope for Homeowners to Help Underwater Borrowers
Regain Equity in their Homes

Buyers can seek help through their lenders by refinancing or through a modification of their current loan.  If you are a homeowner who pays your mortgage on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of your home, you should check in to refinancing.  If you are struggling to make your monthly mortgage payment perhaps because your interest rate has increased or you have less income, a modification could be your relief.

For more Information and specifics on both of these objectives go to www.Hud.gov or  http://www.makinghomeaffordable.gov 

If you know of someone who may be struggling to pay their mortgage please share this information with them!  You may very well help them save their home!

Comments (0)

rss

Apr

14

Harris Buyer Rewards Program

Posted by Martha Story under For Buyers, General Information

Harris & Associates has partnered with service providers in the real estate industry to save you money on your home purchase!  How much money could you save by using our preferred providers?  Up to a $1000 on services which include lender and home inspection discounts to name a few.  Combine these savings with your 2009 First-Time home buyer tax credit of up to $8000.   With these savings it is a great time to buy a home!!  

harrisbuyerrewards3.xml

Comments (0)

rss

Apr

2

New Listing

Posted by Martha Story under For Buyers, Listings, Chester

Check out this new property that I just posted on my Web site. It is in Chester.

Comments (0)

rss

Apr

1

First Time Homebuyer Tax Credit

Posted by Martha Story under For Buyers, General Information, Ask a REALTOR

First-Time Homebuyers Have Several Options to Maximize New Tax Credit
 
IR-2009-27, March 18, 2009Audio Files for Podcasts: English Spanish

WASHINGTON — As part of the Treasury Department’s consumer outreach effort and with the April 15 individual tax filing deadline approaching, the Internal Revenue Service today began a concerted effort to educate taxpayers about additional options at their disposal to claim the new $8,000 first-time homebuyer credit for 2009 home purchases. For people who recently purchased a home or are considering buying in the next few months, there are several different ways that they can get this tax credit even if they’ve already filed their tax return.

Under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before Dec. 1 receive up to $8,000, or $4,000 for married individuals filing separately. People can claim the credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.

The filing options to consider are:

  • File an extension. Taxpayers who haven’t yet filed their 2008 returns but are buying a home soon can request a six-month extension to October 15.  This step would be faster than waiting until next year to claim it on the 2009 tax return.  Even with an extension, taxpayers could still file electronically, receiving their refund in as few as 10 days with direct deposit.
  • File now, amend later. Taxpayers due a sizable refund for their 2008 tax return but who also are considering buying a house in the next few months can file their return now and claim the credit later.  Taxpayers would file their 2008 tax forms as usual, then follow up with an amended return later this year to claim the homebuyer credit.
  • Amend the 2008 tax return. Taxpayers buying a home in the near future who have already filed their 2008 tax return can consider filing an amended tax return. The amended tax return will allow them to claim the homebuyer credit on the 2008 return without waiting until next year to claim it on the 2009 return.
  • Claim the credit in 2009 rather than 2008. For some taxpayers, it may make more financial sense to wait and claim the homebuyer credit next year when they file the 2009 tax return rather than claiming it now on the 2008 tax return. This could benefit taxpayers who might qualify for a higher credit on the 2009 tax return. This could include people who have less income in 2009 than 2008 because of factors such as a job loss or drop in investment income.

The IRS reminds taxpayers the amount of the credit begins to phase out for taxpayers whose modified adjusted gross income is more than $75,000, or $150,000 for joint filers. Taxpayers can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

IRS.gov provides more information, including guidance for people who bought their first homes in 2008. To learn more about the overall implementation of the Recovery Act, visit www.Recovery.gov.

You may find more information at http://www.irs.gov/newsroom.  Contact Martha Story for help finding a home and taking advantage of this tax credit. 

Comments (0)

rss

Apr

1

Welcome to Martha Story’s Blog!

Posted by Martha Story under For Buyers, For Sellers, For Realty Professionals, General Information

Welcome to Martha Story’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Chester.

Comments (0)

rss