Don’t when buying a home! So you are in the process of buying a home. You’re pre-approved. Then you are ready to close on the deal and the bank denies your loan. Why? Many new homeowners get excited while in the process and decide to make big purchases. Before you buy that new car or new furniture, reconsider. If you buy anything during the process of buying the home you can drastically change your debt to income ratio. Today you may have quailified for the home and tomorrow you buy a house full of furniture on credt. By doing this you’ve just changed your purchase power. So, again, wait before going on a buying spree.
Don’t wait! A Shortsale may be the best option.
If you need to sell, SELL. Don’t wait for the market to come back. While you wait your home could depreciate more. In addition, you may lose your right to forgiveness of the debt. This special tax relief actually applies to anyone who has forgiven mortgage debt during the tax years 2007 through 2012. But starting in 2013, this tax break goes away. Whatch the Suze Orman video.
http://www.youtube.com/watch?v=oAktf9sAP_0
Shortsales are here to stay. If you must sell consider the shortsale.
Should you buy a fixer-upper?
How to Assess the Real Cost of a Fixer-Upper House
When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix.
WARNING! Renting can be hazardous to your wealth!
If you can afford $800 a month for rent you could own a 2 bedroom condo or home selling around $49000 for the same amount including your real estate taxes. If this is you, call me. STOP FUNDING your landlord’s dream today and get on the way to home ownership. If you have questions ask them here or contact me personally.
Home Buyers Fair West Chicago 2/26/2011 – Community High School 9am-2pm
The City of West Chicago is hosting a Buyers Fair this weekend. Stop by with your questions on home buying. http://www.westchicago.org/04.23.08_PR.html
Suburb of the Week (Glen Ellyn)
Illinois Suburb of the Week, Glen Ellyn. Where is Glen Ellyn on the map. http://bit.ly/gf5Tc9
Should you move or remodel?
When your house no longer suits you, you can move or remodel. Find out which big change is the right investment of your housing dollars.
Read more: http://members.houselogic.com/articles/#ixzz1Dy2zY8Fu
Is your home clean or messy?
Hot Topic! Is your home clean or messy? Tell the truth. Why is it clean or messy?
Schedule A Form: 6 Home Deduction Traps
Schedule A Form: 6 Home Deduction Traps
Get an “A” on your Schedule A Form: Dodge these tax deduction pitfalls to save time, money, and an IRS investigation. Read more
Rent with an option to purchase/Buy! Have you ever considered it?
In today’s real estate market many new home buyers are finding it more difficult to purchase a home. Your credit score is what determines whether or not you are qualified to purchase. If you are quailifed you then need a downpayment. But what if you are credit challenged and lack a downpayment? Well you have options. Consider renting to own. There are many homes on the market that are just sitting waiting for buyers just like you. Sellers are willing to finance the home for you. Didn’t think it was possible, well it is! Never give up on the dream to own a home. With the proper planning you to can own a home. So now that you know that this option is available, what do you do next? Ask me and I’ll help you get on your way to home ownership.