If you are in trouble with your mortgage payment, you may be applauding recent government programs to help you negotiate a loan modification. You may have already been helped through Making Home Affordable or through a similar program at your bank. Now with recent program changes that encourage principle reduction and offer help making payments when you are unemployed, you may feel assured that you will make it through a tough time with your home intact.
home buyer's tax credit
Spring has traditionally been a hot time for real estate sales. This year, due to the buyer’s tax credit, sales were expected to be higher than normal throughout the winter. However, Mother Nature interfered with the President’s plan, and instead of touring around for the ‘ideal home’ spots, prospective home buyers were busy clearing their driveway during the unusual Snowmageddon this year. Spring has announced her arrival at the onset of the Cherry Blossom Festival, which is set to start on March 27. It’s a beautiful time to walk outdoors, and look out for that perfect dream home. With only a little more than a month to use the Home Buyer Tax Credit, buyers are making up for lost time. Prospective buyers with children are even more ideal. Many families like to time the acquisition of a new home to match their kids’ school schedules. Now wouldn’t it be so much more comfortable if you had the ‘SOLD’ sign on your porch even before school starts this year? If you want to sell your home, this is the best time of the year to do so. But what if your home needs work that you can’t afford to do? What if you are delinquent on your payments and ready to fall into foreclosure? Or maybe you are underwater and can’t see the shore? You could easily miss prime time if you aren’t ready when buyers are! Express Homebuyers offers an alternative worth your consideration. We buy homes as-is for cash, within DC,…
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 30th deadline….