What Options Are Available to You, If you are Facing Foreclosure

As a homeowner facing foreclosure, you should know and explore all the options that you have in order to avoid being foreclosed upon.  Unfortunately, there are hundreds of thousands of people who face foreclosure every year and most have no idea what options are available to them. 

1. Most homeowners will try to list their home with a realtor.  There is usually not enough time to get a contract and then list the home and wait for buyers.  If the home needs repairs, then fewer buyers will be interested as well.  Also, if you are over-leveraged and you owe more than your home is worth, most realtors will not work with you.

2. Another option that you have is to sell it to an investor.  Investors buy properties, usually with cash and can close on the timeline of the seller (you).  Investors will look at comparable sales in the surrounding neighborhood, assess the repairs that need to be made, and make a cash offer that reflects the value of home in it’s current state, minus any repairs that need to be made, and of course some incentive for them.

3. You can also do a subject-to deal.  Subject- to deals allows investors to acquire the property, catch up the back payments, and make repairs all the while you are holding the note.  When the property is then sold, you will receive the amount that is negotiated between you and the buyer. 

4. You can also have investors, or real estate experts negotiate existing debt with creditors or do a loan modification, however you must show the bank that you are out of the hardship and that when the loan is modified the payments are able to be paid.  

If you are facing foreclosure, the best option is to sell your home if you do not see any financial change in the near future.  Investors are very easy to work with and you can usually have a cash offer on your house within 48 hours. 

For more information or for real estate reports and information, please visit my website at www.reosave.com

Free Reports for Investors, Sellers or Buyers!

If you would like any of the free reports below, visit my webiste here:
http://reosave.com/FREE_Reports_.html

The reports include:

“5 Secrets You Must Absolutely Know Before You Buy A Home in Today’s Market.” -1

“You Too Can Repair Your Credit and Achieve Financial Freedom!” -2

“5 Ways to Save $10,000 Dollars on the Purchase of Your Next Home.” -3

“Stop Paying Rent Forever.” -4

“The Five Secrets You Must Absolutely Know Before You Buy a Rental Property” -5

“Rehabbing, where to start so your flip doesn’t flop” -6

Mortgage Rates on the Rise spark rise in home purchases!

According to Freddie Mac, the mortgage rates for a 30-year fixed, recently jumped to an average of 5.32% this week, from 4.91% last week.  Refinancing has taken a hit by the rising rate, however home purchases have continued to rise. 

As the economy slowly recovers and takes its climb back to normalcy, home buyers are jumping on the lower interest rates now, in case they continue to rise further any time soon.  A further rise in rates could slow the housing recovery, but the current rates are not high enough to put a kabash on home buyers interest.  

This is a sign that things are starting to turn for the better, but don’t just go out and find the first deal you come across so you can lock in a low interest rate on a long term loan.  Keep in mind what you are trying to achieve and shop around until you find what is right!

$8,000 for First Time Home Buyers!!!

Ok so, you qualify as a first time home buyer if you haven’t purchased a house in the last 3 years!  So, first time homebuyers… You can get this $8,000 credit if you purchase a home between January 1, 2009 – December 1, 2009

• The credit does NOT need to be repayed (IF you own the home for more than 3 years)
• The credit equals 10% of the homes purchase price up to $8,000
• Your annual adjusted gross income can be no more than $75,000 ($150,000 on a joint return)

So go start house hunting!!

 

 

 

 

Virtual Tours on YouTube!!

Hey everyone!

We just started using YouTube to showcase our properties that we currently have on the market and I am LOVING the response! Think about where you would go to start your search for anything! THE INTERNET! The same applies with buying a home.  Everyone is going to go to the internet to get information on available properties, realtors, what homes are for sale and the list goes on.

What better way to have potential buyers search for homes online and your properties come up, ALONG with a virtual walk through.  Put the internet  to work for you  24/7/365 and have it act as a realtor conducting and open house! 

MAKE sure to add “tags” to your videos.  Tags are what the search engines use to crawl sites such as YouTube and pull the most relevant material for whatever was typed in the search bar.  So if someone types in “Homes for Sale Albany” and your video is tagged with”Homes for Sale Albany” there is a good chance your video will appear!

Here are a few of our recent homes for sale that we have done tours on:

Hello Upstate! I’m Brian!

Welcome to Upstate NY’s blog resource for investing and current updates in the real estate world! Just want to introduce myself and let everyone know that they can count on great information!  Check back for updates!  In the mean time here is a picture of me…. more information on my website as well, www.reosave.com Join our mailing list if you want wholesale properties as a buyer, are looking to sell your home, or want to buy a fully renovated retail property!  See you soon!