We Buy Houses!

If you are trying to sell your home at short sale, the extended, expanded home buyer tax credit could be your best friend. Short sales are ideally a great way to help you prevent foreclosure.  They offer you the chance to have a little more say in the selling of your home, offer you more chances to plan your future, and offer you better closure to the situation.  The banks have been quick to say, “It’s not about you!  It’s about us.  We’ll have to think it over.  We’re short staffed.  We need those documents again.” The result is that short sales can take a long time – 60 days, 90 days, 6 months, keep counting!

The former first-time home buyer credit is now simply the “home buyer credit.”  It is up to $8,000 for first-time buyers and up to $6,500 for certain repeat buyers.  In either case, the deadline is April 30, 2010 for signing a contact and June 30, 2010 to close. The extra seven months give new life to short sales.  As long as a buyer has a contract in place by April 30, even if the closing does not occur till 11:59 pm, on June 30, the short sale buyer can claim the credit.

There is no guarantee as to how long a short sale will take to close, but if your buyer starts the process, you should have no problem.  The probability of success will decrease the closer time gets to the April 30^th deadline.

As it happens, there are may soon be incentives that will make short sales faster.  First, the government is now trying to promote short sales through the Making Home Affordable program.  That news is several months old, but the Treasury has been promising to release new incentives for lenders and sellers.  That should happen soon.

Second, lenders, starting with Bank of America, are beginning to implement a revamped short sale portal designed to centralize and streamline short sale processing.  Many of the 17 lenders that use the Equator (formerly REOTrans.com) program are expected to get on board.

If banks have any sense, they will embrace short sales and try to resolve as many as possible in the wake of continuing foreclosures.  That is not a done deal, however, as lenders and servicers are overwhelmed. Trying to selling your home at short sale could still be a prolonged process that results in refusals by the bank to accept your deal.  As the weeks and months drag on, you can find yourself under mounting mortgage pressure.

The Home Owner Credit offers you a chance to get a buyer; the extended time increases the likelihood the paperwork will go through, but there is still no certainty.

Can’t Wait It Out?

Express Homebuyers offers an alternative.  We will buy your home and guarantee completion of the process within a couple weeks.  We tell you up front what we will pay; if you agree, you are on the way to a quick resolution.  We even offer you a $2,500 upfront advance you can plan your fresh start.  Call us at 1-877-804-5252 or check out our Express Homebuyers website for more details.

If the terms of the new Home Buyer Tax Credit made your ears perk up, maybe this is the time you should think of moving.  You can sell your home and assuming you have lived there as your primary residence for the past five of the last eight years, claim a $6,500 tax credit when you buy a new home.

You know, though, that preparing your home for sale will be a challenge.  The house needs a face lift to make it appealing to buyers.  To get the place looking as good as you’d like in time to get it on the market, sell it, and find yourself the replacement home you want will just take too much time. What do you do?

Maybe you inherited a home that would give you a chance to be a homeowner but it just isn’t what you want.  Even if you fixed it up, it is still too far from your job or maybe the schools aren’t what you want for your children.  You could list and sell the place on your own, but that’s seems like a lot of aggravation.  What do you do?

When you’ve been out looking at houses, you have found your new, perfect home.  The problem is, the house is so fine and in such a good location that other competing buyers are coming to the same conclusion.  The Realtor® mentions that there are other interested buyers so you have to move fast.  Maybe your existing home hasn’t sold yet or maybe you fear having enough cash up front to make your move on the new home you want.  The Bank of Mom and Dad is closed for big withdrawals and you need the cash quickly. What do you do?

You’ve just been transferred or maybe you’ve been offered a great job out of state.  You may want to buy in the new location, but in any case, you need to go!  Selling your home long distance is not want you have in mind. What do you do?

You may be in circumstances where buying another home is the last thing you want to do right now.  You know that your home is very salable but you’re on the verge of foreclosure, you’ve lost your job, you’re at the midst of a divorce, and you want or need to move on quickly.  What do you do?

Express Homebuyers can help you. We specialize in buying houses directly from home sellers like you who need a fast and reliable home-selling solution.  When you call us, you will receive an immediate offer, and you will be able to save time and money.  How do we do this?  Well, we’ve been doing this since 2003 and since then we have purchased 600+ properties in the DC metro area.  We have bought houses that needed repairs, houses that had tenants in them, houses that had been on the market for months and no one else wanted to buy, houses from people that were facing different situations (bankruptcy, foreclosure, divorce, relocation, job loss, death in the family) and needed to sell their house fast. We’ll buy your home as-is, without closing costs, commissions, or paperwork!

If you want to learn more about us or would like to get an offer for your house call us 1-877-804-5252 or check out our Express Homebuyers website for more details.  If you are looking for an affordable home, we can help you too.  Since our business is buying homes, refurbishing them into tip-top condition, and then reselling them, we have a number of refurbished homes we offer for sale. Check out the many other affordable new-home values we have to offer.

P.S. – Tell us you saw our free report Secrets to Selling your House in Seven Days or Less and if we buy your house we will give you a $100 gift card to Home Depot to help you get a few things for your new place.

On front porches and in bars, beauty shops, and office coffee rooms around America, people have come up with an unique solution to part of the housing problem: Let the people whose homes are foreclosed on pay rent to continue to live there.  This approach could keep the homes occupied, which would maintain neighborhood stability and housing resale value.  Banks would receive revenue instead of just another under-funded asset to put in inventory–one that might be severely damaged by the time they got ready to sell it.

Now! Common wisdom in a government program

On November 5, the FHA announced the Deed for Lease (D4L) program, which would allow qualifying owners on the brink of foreclosure to lease the property for a year or more after turning in the deed.  The program might even be available to tenants.  To qualify, the homeowner must be unable to have his loan modified and must be able to pay market value rent of no more than 31% of the household income.  Further, he must keep the property in good condition, have rental insurance if he has pets, and must live in the home as a primary residence.

A benefit for troubled homeowners

For many, it will reduce their payments to 31% of their income.  If they had other mortgages on the property, they would be released from those. The tradeoff is that they are no longer homeowners, but that financial position will disappear with less damage to the person’s credit report and less family and neighborhood disruption.  Although the program may offer only temporary relief–the lease is initially for one year–that time allows the former homeowner to get his finances back in order and perhaps plan for the future without the stress of foreclosure looming. (Read more facts about Deed for Lease here.)

For the lender, D4L eliminates many of the costs of foreclosure, provides rental income, and preserves the property’s condition.  Banks may not want to be landlords any more than they want foreclosed properties, but D4L is a reasonable solution that will pay off for them if housing prices rebound and lenders are able to sell the homes for more than the original price.

Facing possible foreclosure?

Is Deed for Lease a good idea for you?  If you want to stay in your home and can afford the new payment, D4L might be ideal.  However if you are unemployed or are living in a home too expensive for you, you will probably fail the income test.

Express Homebuyers offers another solution that might work even better for you.  We buy houses for cash, clear the liens, and wrap up the transaction within a couple weeks.  We will even provide you with a cash advance to help you get settled in a new place.

Our motto is We Sell Your Home Fast. You can put this motto into action today by contacting Express Homebuyers at 1-877-804-5252.  Want more information on the process before you make the call? Read this list of frequently asked questions to prepare you to make the decision that gives you a fresh start.