GREAT TIME FOR FIRST TIME BUYERS

YOU MAY QUALIFY FOR...

$8,000 in FREE MONEY

BUT YOU'VE GOT TO MOVE QUICKLY!

If you're a "First Time Home Buyer," which means you haven"t owned a primary residence for the past three years, you can qualify for an $8,000 tax credit for the purchase of a primary residence between January 1, 2009 and December 1, 2009. You get the $8,000. even if you owe no taxes! And, as long as you keep the home for three years or more, you never have to pay it back!

And...You Could Get the Credit This Year! Call Me for Details!

Don't Miss This Opportunity!

Right Now is the Best Time Ever to Buy a Home:

• Prices are a Their Lowest Point...Down Over 50%
• Interest Rates are at Historic Lows.
• There are Many Federally Supported Loan Options Available.
• Bank Owned Properties and Short Sales Offer Great Deals!
• And the U.S. Treasury Will Give You $8,000. to Do It!

People Who Buy Now Will Benefit in the Years to Come!

Contact Me to Learn All the Details...

Breaking News... There's Also a $10,000 State Credit!

I am your BANK REPO and SHORT SALE Specialist! I have daily updated information! Call or email me

Seven Most Common Options When Selling A Home

Normal Sale

• Equity is Positive (Note: Liens & Penalties divide by .92=Rough Estimated Break-Even Selling Price)
• Sales Price minus (Loans, Liens, Prepayment Penalties and Selling Expenses)=Net Positive Cash to Seller

Wait (Increase Equity)

• Equity is Not Sufficient For Seller To Sell in Current Market
• Seller Stays in Home, Continues Making Payments and Waits Until Sales Prices/Values Improve
• Equity Will Improve but Only as Real Estate Market Improves
• Seller can List and Sell in Future once Property Appreciates and Seller has Sufficient Equity
• Seller Risks that Interest Rates and Prices Also Go Up for the Property that Seller Intends to Purchase

Negative Equity (Seller Brings Cash)

• Equity is Negative (Liens and Selling Expenses are Greater than Sale Price); But Seller is Solvent
• Sales Price minus (All Liens and Selling Expenses)=Negative Amount, Potential Loss by Seller's Bank(s)
• Seller Has Cash to Make Up the Difference: Brings Cash to Escrow to Pay off the Negative Amount
• Seller's Bank(s) Approval Not Needed Because There is No Actual Loss to Bank at Closing
• No Damage to Seller's Credit

Short Sale (Seller Signs Personal Note)

• Equity is Negative (Liens and Selling Expenses are Greater that Sale Price); But Seller is Solvent
• Sales Price minus (All Liens and Selling Expenses)= Negative Amount, Potential Loss by Seller's Bank(s)
• Seller Doesn't Have Cash to Make up Negative Amount to Bank (But Seller Also is Not "Wiped Out")
• Seller Negotiates and Signs Unsecured Note for Loss Amount with Bank, if Bank Agrees, During Escrow
• Bank(s) Might Approve Because of No Actual Loss, But Generally Only as Last Resort to Foreclosure
• Property Sells, Closed Escrow: Seller Makes Payments to Bank until Unsecured Note is Paid Off
• Seller Gets No Money at Closing
• Seller's Credit Rating Might be Damaged, Likely Not as Bad as with a True Short Sale or Foreclosure

Short Sale (No Seller Resources Available)

• Equity is Negative (Liens and Selling Expenses are greater than Sale Price); Seller is Not Solvent
• Sales Price minus (All Liens and Selling Expenses)= Negative Amount, Will be Loss by Seller's Bank(s)
• Seller Accepts and Offer Subject To Seller's Bank Agreeing to Accept Less than Full Payoff
• Bank Might Forgive the Net Loss if Seller Qualifies (Foreclosure Appears Inevitable to Seller's Bank)
• Bank Hopefully Agrees-Generally Only if Foreclosure Appears Inevitable (Seller is "Wiped Out')
• Seller Gets No Money at Closing
• Seller's Credit Rating is Damaged (Sometimes not as bad as with Foreclosure; Seller: Consult With CPA)

Bankruptcy

• Seller Is Not Solvent; Seller Consults with a Bankruptcy Attorney to see if Seller Qualifies for Bankruptcy
• Seller Might Be Allowed to Remain in Property Longer than with Foreclosure (Seller; Consult Attorney)
• Seller Might Still be Allowed by Bankruptcy Court to Sell the House (Seller; Consult Attorney)
• Seller's Credit Rating is Damaged (Sometimes not as bad as with Foreclosure; Seller; Consult With CPA)

Foreclosure ("Walk Away")

• Seller Stops Making Payments
• Bank Eventually Forecloses (NOD filed, then Notice of Sale posted; Home Sold by Bank, or Taken Over)
• Foreclosure Process is Public Record
• Very Major Credit Rating Damage for Seller; Usually Remains on Sellers Credit Report For Seven Years

THIS POST IS FRO INFORMATION PURPOSES ONLY. ALWAYS CONSULT A TAX ADVISOR AND/OR ATTORNEY ABOUT POTENTIAL RAMIFICATIONS BEFORE SELLING YOUR HOME IN A DISTRESS SITUATION.