incentives (3)

It’s a sign of the times!

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll.  Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty.  And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.


As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact me today and let’s get started.

What are your 10 Options to Avoid Foreclosure?


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New Home Credit and First Time BuyerCredit of $10,000 goes into effect May 1, 2010. $100 million isallocated to the New Home Credit and $100 million to the First TimeBuyer Credit.

The very popular New Home Credit in 2009 ran out ofmoney quickly. It generated so many sales that it was re-introducedagain this year along with the First Time Buyer Credit.
The money for the First-Time BuyerCredit is expected to run out much faster than the New Home Credit thisyear.

Theeligible taxpayer who purchases a qualified personal residence onand after May 1, 2010, and on or before Dec. 31, 2010, or whopurchases a qualified principal residence on and after Dec. 31,2010, and before Aug. 1, 2011, pursuant to an enforceable contractexecuted on or before Dec. 31, 2010, will be able to take theallowed tax credit. The credit is equal to the lesser of 5 percentof the purchase price or $10,000, in equal installments overthree consecutive years. Under AB 183, purchasers will be required tolive in the home for at least two years or forfeit the credit(i.e., repay it to the state).

HOWEVER...this money willgofast
The $100 millionallocated for California's first-timehomebuyer taxcredits may be depleted in about 20 days or sooner. Thetotal tax credit allocation for all taxpayers is $100million for first-time homebuyers and $100 million for new homes, bothon a first-come, first-served basis.

For an update on howmany applications have been filed and for the dollar amount, watch thissite:
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As a realtor, I reviewed my first HAFA request with a client whom thought the letter receivd by overnight delivery was the same old thing just another letter informing her that she did not qualify for HAMP. There was exactly 14 days to respond and after a telephone call and four different departments and four different representatives we landed in the HAMP center which was outsourced to yet another company. Once we got to the right person and department promises were made verbally to my client and a series of letters are expected next. Looking forward to working in the HAFA program and hope this process is painless.

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