Steve Young
RE/MAX Associates
(817) 276-5149
www.steveyoung.pro
www.steveyoungtexasrealestate.pro
http://stevesellsdfw.wordpress.com
steve@steveyoung.pro
...Coupled with home prices remaining relatively low, TAX credits
What do I do first you ask? Call me, 817-276-5149, and then I'll get you in touch with a mortgage officer that knows the programs that are available for you. The foundation of your home purchase begins with getting approved for a loan, obtaining information that could save you money, then with that you are ready to find that perfect home for you and your family.
The Federal Housing Administration (FHA) has released new lending insurance restrictions for condominium buyers and developers.
The FHA’s tighter lending standards include restrictions on buildings with poor finances, too many delinquent owners and a high number of rentals. The agency will also require at least 30 percent of units in new buildings be pre-sold before it will insure any loans; this will rise to 50 percent in 2011.
The stipulations have been set to protect the FHA from insuring loans with a risk of falling into delinquency.
About 18 percent of loans currently insured by the FHA are either delinquent or in foreclosure, and the agency’s money reserves have dipped below the federal minimum.
Hope your able to come to Cowboy stadium for this big shindig. Look forward to being MC & seeing everyone
Steve Young
817-276-5149
www.steveyoung.pro
steve@steveyoung.pro
WASHINGTON, D.C. (Realtor.org) – IRS eligibility guidelines for the home buyer tax credit when co-borrowers purchase a property have been spelled out.
When a home owning parent of an adult child co-signs for a mortgage and both names appear on the note, the first-time home buyer can qualify for the whole amount under some circumstances.
The IRS says the parent doesn’t qualify for any portion of the credit, but if the child hasn’t owned a home during the three years preceding the current purchase and can qualify based on income, he or she can be allocated the entire $8,000 credit.
When unmarried individuals co-purchase a home and only one of them is eligible for the credit, then the full $8,000 can be allocated to the eligible buyer.
I want to thank you for taking the time to visit my website at www.steveyoung.pro. As a consummate real estate professional, I’m committed to providing the absolute best service to my clients. I feel that by educating my customers & clients regarding Texas Real Estate, I put them in the position to make informed decisions, and I can take care of the details so that any transaction runs as smoothly as possible.
When you are ready to move forward on selling, leasing or buying a home or other real estate properties in the surrounding DFW area, please call or email me. I’d appreciate the opportunity to help you with any of your real estate needs. Once again, thanks for visiting the site. Don’t hesitate to call or e-mail me with any of your real estate needs.
steve@steveyoung.pro or 817-276-5149. Also please follow my real estate blogs at http://stevesellsdfw.blogspot.com/
WASHINGTON (Associated Press) – Guidelines for short sales to help homeowners who need to sell their houses but cannot secure contracts at a high enough price to pay off their mortgages have been revised by the Treasury Department.
The plan was created to aid homeowners whose income or debt is too low to qualify them for a loan modification under the Making Home Affordable program. The plan establishes timetables, a standard process and documents, and cash incentives for participation.
The new guidelines require the:
The guidelines are expected to reduce paperwork by requiring mortgage companies to use the financial and hardship documents submitted by borrowers seeking a loan modification. To speed up the approval process, mortgage companies will have to approve short-sale terms, including the minimum listing price, before the house is put on the market.
Mortgage companies will be required to offer the program as of April 5, 2010.
If you are in this situation, email or call me to get some advice. I have been dealing with short sales since 1989.
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Steve YoungThe U.S. Treasury Department's long-awaited guidelines to streamline Short Sales, announced Monday, will have a significant impact on families facing foreclosure, according to RE/MAX International Chairman and Co-Founder Dave Liniger.
The Home Affordable Foreclosure Alternatives Program (HAFA), part of the Home Affordable Modification Program (HAMP), provides financial incentives and simplifies Short Sales procedures by setting limits on the time it takes lenders to respond, freeing borrowers from debt and capping claims of subordinate lenders.
The Treasury's announcement comes on the heels of more than a year's work by RE/MAX leadership to persuade federal lawmakers to address the need for a simpler Short Sale process.
"While the plan doesn't include all of our suggestions, we feel it's a big step in the right direction," Liniger says. "These new policies will make Short Sales much more attractive to our clients and much easier for us to complete."
Please tune in to 103.7 Lite FM and listen to on-air personalities Gene & Julie, Tony Zazza and Leigh Ann telling live stories of hope and healing from children across North Texas. Each year, the Children’s Miracle Network Radiothon raises much-needed funds to benefit the patients of Cook Children’s Medical Center and Children’s Medical Center.
To donate, call (800) 800-7277 on December 10, 11 and 12,
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