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IRS gives leeway to Taxpayers victimized by Hurricane Sandy

IRS gives leeway to Taxpayers victimized by Hurricane Sandy
Hurricane Sandy left a lot of work for American households. The last thing that you want to worry is being able to file IRS tax and make payments ahead of deadline. Good news is that IRS understands what most of the people from the East Coast are going through and they are willing to help.

For federally declared disaster, IRSmay reschedule various tax deadlines for taxpayers who are living near the affected area by as much as one year.

This applies to: A. an individual whose primary residence is situated in the disaster area; B. any business entity wherein the location of the business place is a covered disaster area; C. taxpayers who are not in the disaster area but will have to meet an IRS deadline in the area; D. a relief worker helping in a covered disaster area; E. a husband or wife of the taxpayer for intentionally filing a joint tax return; F. any person who was visiting the covered disaster area and was killed or injured as a result of the calamity.

The benefits mentioned above are automatic. Taxpayers are not required for anything except that they belong to one or more categories. IRS will terminate any interest, late payments, and late-filing penalty.

The deadline for hurricane Sandy victims are already moved. IRS already moved the date to Nov. 7 instead of Oct. 31 for taxpayers and tax preparers to file returns and tax payments.

Furthermore, IRS is on the course of postponing other tax deadlines for those taxpayers that were affected by Hurricane Sandy. Any announcement to make in the future will be posted in Tax Relief In Disaster Situations Web Page.

In the Federal Emergency Management Agency (FEMA) website, one can easily locate a county if it is included in a federal disaster area.

If you live in the Sandy disaster area and receive a penalty notice from the IRS, it is advisable to call the telephone number on the notification to have IRS lessen or terminate the interest any late-filing or penalties that would be due.

Other Articles to Read:

Wells Fargo got the Case, Mortgage brokers are to be blame

Increase in prices saved millions of Homeowners across America

Amount of Home Loans Increased as Rates Slides Downward

When Can you Own a Home Again After Foreclosure?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

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Defending Your Gainesville Home Against Foreclosure


Defending your Gainesville Home Against Foreclosure

Each state is governed by different foreclosure laws and procedures; it is advisable to have an attorney to help you with your decision regarding foreclosing your home.

In Gainesville Florida, buying a property means owning the deed of the house by a statutory warranty deed. This deed is very important; keep it at all times and must be with you when you decided to close your home and began doing the paperwork. With this, this makes Florida a deed state.

The course of foreclosure process involves court procedures. As a homeowner, you have the right to represent and defend yourself versus a foreclosure. The lender cannot just foreclose your property, it is a must for the lender to go to the court, find an attorney for you to hand in the deed to them. With this, it might a long time to get the results of your foreclosure.

There are sequence of events that might be applicable in Florida:
• When you are a Gainesville homeowner whose not paying your mortgage payment up-to-date,
• Expect a call from your lender and a
• Letter of late payment
• If payment is still not made, the lender will send a demand letter
• Lender will file Lis Pendens. Lis Pendens is a notice to foreclosure and summon against the homeowner.
• You have 21 calendar days to reply to the complainant and answer the court.
• The lender is allowed to put your property in the local newspaper including the location, but it must be approved by the judge. This is done if you avoided the process or have left your gainesville property and did not leave a forwarding address.

It will take 90 days to 24 months for your house to be on sale on the ‘courthouse steps’. It is recommended for you to get your own gainesville foreclosure defense attorney. They know how to delay the foreclosure. With the given timeframe, it will allow you to still obtain a buyer and put your home on Gainesville short sale and closed.

During the process, it is essential for you to respond to all of the summons and complaint. Let your attorney handle the responses and have a short sale agent to take care of selling your house. Always be present when the court requires your presence. Get in touch with Alachua’s county court clerk’s office to know the requirements when filing a response. If you can’t afford an attorney, your court house might be able to help you with this. If you are looking for the best Gainesville short sale agents and realtors so pls check this out.

Other Articles to Read:

Bank of America’s Cooperative Short Sale Program

Banks Are Calling Homeowners To Solicit Short Sales

Options To Prevent Gainesville Foreclosure when Unemployed

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-535-0620 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.
Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents

  

Pricing of your Gainesville Short Sale

Pricing of your Gainesville Short Sale Pricing the property right will have a greater chance for it to sell. There is a strategy to pricing depending upon several factors. This will depend upon condition of home, last mortgage payment made, the short sale lender involved, foreclosure sale date and market conditions.

The main factor in pricing a home is if it is in active foreclosure and or how long the payments have been in arrears. Once a homeowner stops making mortgage payments the clock towards foreclosure starts ticking. This means you should start becoming more aggressive with your pricing strategy the longer time goes on when mortgage payments are not being made. Depending upon the condition, location and time line short sales typically sell anywhere from 5 to 20% below market value. You will need to check laws and regulations in your state. In Florida, once the home is past 90 days late the lender files for a lis pendens on the home.

If the house is not in foreclosure status and it is not past due with its mortgage, the home should be priced closer to market value with a price reduction strategy for it to go under contract. The lender will want to obtain maximum profit for the short sale and keeping a marketing history and price reduction worksheet to give added fuel to getting the offer priced approved once an offer is received.
As the short sale agent, it is important to understand short sales and the market conditions clearly. Many times short sales sit due to an improper pricing strategy.

Here are some of the pricing strategies to adopt:
• You may lower the price 25 – 30 days after the initial posting of the property in short sale. Depending upon how late mortgage payments are you may be reducing slightly every 2 weeks thereafter. It is important to note to have a bottom line range to stop so the home is not priced out of an acceptable range by the lender. The goal is to be in the ball park.
• How you price your home listing depends on the current market, the status of the house, and the community wherein it is situated.
• If the homeowner is not updated with its mortgage payment, it is advisable for a price reduction of 6% to 10% for $150,000and below, 5% to 10% for properties $200,000 to $300,000. Furthermore, for luxury properties, a bracket within $50,000 to $100,000 is maintained.
• If the property is on a foreclosure status, price it according to the current market value and lower the price around 10-21 days period until a proposal is made.
• If the short sale listing is not in danger to be foreclosed and the seller is paying his/her current mortgage, keep the prices high and choose the best offer if possible.

Have a tangible business plan of the range of listing prices you agree to take. Worst comes to worst, you would not end up in deficit with the short sale property you are working on. You need to include your time, hard work, and cash expenses. Deduct them to the commission you’ll get when the short sale will close. Planning ahead of time is a necessity so as not to build up emotional stress along the way.
You can have a fixed amount that will be basis for your time, effort, and expenses. The sum is the basis wherein you will not accept listings under that amount.

Other Articles to Read:

More homeless? Where will the mortgage settlement fund go?

My Gainesville Short Sale Appraisal Came in Low, Now What?

Gainesville Short Sale Qualification Process

When Can you Own a Home Again After Foreclosure?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents