State Bond Down Payment Services May Result In A Lien On Your Home
Posted on May 19th, 2012
Hello everybody Jesse Moore right here with Pickett Street Properties of Washington, where we’re redefining real estate, thanks for taking the time to take a look at my weblog today. Our team of short sale specialists are dedicated to helping Seattle area homeowners avoid foreclosure and I update my weblog frequently to provide info on all of your real estate options. In case your mortgage is at present underwater, or if you are already contemplating a short sale, please take a minute to browse my web site or contact me directly to discuss your options for avoiding foreclosure.
For my weblog as we speak I wanted to discuss a unique subject involving a short sale where a state bond was used for a down payment. In the state of Washington there are a number of totally different programs in place to help first time homebuyers with their down payment. These programs permit first time homebuyers to borrow up to ten thousand {dollars} for a down payment on a property in Washington. Of course this cash is not free and ultimately creates a lien against the property until it is paid off. Previously, when properties usually went up in value, these bonds have been then paid off with the profit made when the house is sold. Given the down turn in the real estate market that is probably not an option for a lot of Washington homeowners.
In case you have a state bond lien on your property and must short sale you may not have to pay off the entire amount. Lots of these mortgages are through Bank of America and I have loads of expertise working with their team. So don’t be alarmed when you’ve got a lien we will still get you a short sale approval. If in case you have any questions on this topic please reach out to our staff for help today. Thanks for your time and I hope you’ve gotten an incredible day.
For more information on short sales and how to avoid foreclosure, visit the Pickett Street Properties blog or you can also contact Pickett Street and get started today.
Filed under Avoiding Foreclosure, Blog, First Time Homebuyers, Hello, How To Avoid Foreclosure, Jesse Moore, Mortgage, Real Estate Options, Real Options, Seattle Area, State Bond, State Of Washington, Taking The Time, Ten Thousand, Thanks For Your Time, Thousand Dollars, bank of america, bonds, foreclosure, foreclosures, mortgages, real estate market, short sale | No Comments »
What’s The Deal With Strategic Defaults And Is It A Constructive Thing?
Posted on May 18th, 2012
Hello, I am Mike Rigley, a licensed default advocate, distressed property expert and your short sale specialist. We are California’s leading short sale team and we’re here to help. Welcome to our video blog. Right now we are going to speak about strategic default. For those who’re wondering what that is, it’s when you possibly can afford to make your month-to-month mortgage payments but the property is thus far upside down that it simply doesn’t make sense to keep paying it. So, for instance you owe $four hundred,000 and your home is now worth $200,000. Based on regular appreciation, you’ll be able to expect to pay the property off before it’s ever worth what you owe. Let me say that again, you will pay the property off before it is ever worth what you owe.
Is it morally corrupt or is it simply good business? Only you possibly can determine that for yourself. I might encourage you to take a look at it as a very good business decision. If Proctor and Gamble, Chevron, Intel or another large company sold off an underperforming or a money losing asset, would not their board of directors say it was a good business decision and their shareholders reward them with a stock price increase? Absolutely they would.
So why are you any different? With the favorable tax legal guidelines permitting you normally to avoid income tax on the debt forgiveness, and the strong California legal guidelines are prohibiting the lender from pursuing a deficiency. If you’re contemplating a strategic default, now would be the time to act. Now I am not encouraging you to stroll away out of your loan however I’m encouraging you to take a look at what is sensible to you. With the tax forgiveness act of 2007 expiring at the end of this 12 months, now could be the time to act.
Once more, I am Mike Rigley your California short sale specialist and I am here to help. For a free, no obligation financial session, give me a call today, sleep better tonight, you’ll be glad you did. My number is 888-317-9376. Thanks and I’ll see you soon.
For more information on short sales and how to avoid foreclosure, visit the Rigley Realty Group blog or you can also try out their short sale decision calculator and get started today.
Filed under 12 Months, Advocate, Board Of Directors, Business Decision, Chevron, Debt Forgiveness, Good Business, Income Tax, Intel, Mortgage Payments, Obligation, Proctor And Gamble, Proctor Gamble, Property Expert, Shareholders, Sleep, Stock Price, Tax Act, Tax Forgiveness, distressed property, foreclosure, foreclosures, short sale | No Comments »