Treasury sets guidance to simplify

"Short Sales"

NEW YORK (Reuters) – The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.

The Home Affordable Foreclosure Alternatives Program provides financial incentives and simplifies the procedures for completing short sales, a growing practice in which a lender agrees to accept the sale price of a home to pay off a mortgage even if the price falls short of the amount owed, according to an announcement on the Treasury's website. (read more)

Congress giving "ALL" homebuyers a $6,500 tax break, and First Time Homebuyers up to $8,000 tax break.

WASHINGTON – Buying a home is about to get cheaper for a whole new crop of homebuyers — $6,500 cheaper.

First-time homebuyers have been getting tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, the Senate voted Wednesday to extend and expand the tax credit to include many buyers who already own homes. The House could vote on the bill as early as Thursday.

Buyers who have owned their current homes at least five years would be eligible for tax credits of up to $6,500. First-time homebuyers — or anyone who hasn't owned a home in the last three years — would still get up to $8,000. To qualify, buyers in both groups have to sign a purchase agreement by April 30, 2010, and close by June 30. (Read More)

Purchase a home from January 1, 2009 through November 30, 2009...you'll receive this too!      Call Karen Daniel today to get all the information you need to find out about YOUR tax credit...                                                                                             Search IDAHO Homes           What is MY House Worth?        Ask KAREN a Question   Treasure Valley Short Sale Specialist, Treasure Valley Short Sale Agent, Treasure Valley Short Sale Help, 100% Successful short sale Agent, and why you want to work with a Short Sale Expert! "YOU WOULDN'T GO TO COURT WITHOUT AN EXPERIENCED ATTORNEY, WHY WOULD YOU TRY TO SALE YOUR HOME WITHOUT AN EXPERIENCED SHORT SALE REAL ESTATE AGENT/SPECIALIST?" READ WHAT "THE WALL STREET JOURNAL" HAS TO SAY ABOUT FHA plans to Offer $8,000 Upfront to First-Time Buyers My success is based on integrity and delivering my client's needs.  Compliance with all State and Federal laws has allowed me to assist homeowners in today's market. Ask yourself?    Are your mortgage payments too high?    Do you owe more than your house is worth? Do you want to minimize damage to your credit? Suffered loss of income? Will your mortgage adjusts soon and you cannot afford paying skyrocketing rate? Do you want to sell your house but there is not enough equity? Do you want to avoid or stop a foreclosure and get a fresh start?   If you answer YES to any one of these questions, DO NOT hesitate any longer... Call me today, so we can get you started on your FRESH START! "Defining A Short Sale" Short Sale, also called "Short Pay", is a process by which a lender agrees to receive a lower amount of an owed debt in exchange for the sale of the property to a third party, usually at no cost to the borrower. Most of short sale services are TOTALLY FREE OF CHARGE. As the most experienced short sale specialists I can help you prevent the downgrading of your credit scores while providing you A FRESH START. Loosely defined, a short sale is a situation where the homeowner owes more on the property than it is worth and is in the process of selling the home.  The short sale scenario is that the homeowner has contacted their bank and the bank has agreed to allow the sale for less than they are owed. When this happens the bank is usually in control of the transaction after it’s placed on the market.  This isn’t necessarily bad but it does introduce extended time frames into a transaction since all approvals have to come from the bank.  If you’re expecting an answer in 48 hours on the contract you just submitted…you’re going to be very disappointed.  48 days maybe but certainly not 48 hours.   NEW YORK TIMES SAYS... NOW May Be Time to Think About Buying a House  "LOW INTEREST RATES" & "REDUCED MORTGAGE PRICING"   Beat other homebuyers to the hottest new homes for sale in Nampa with my New Listings Notification.  Karen Daniel, your SOURCE for any need in your Treasure Valley Real Estate   How about having your own "DOMAIN", for all prospective buyers to be able to preview YOUR home at their fingertips...contact me immediately to get more information on how to "Get your home SOLD successfully..."