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Time Is Running Out! Don’t Miss Out On The Tax Credit.
Terry Iwaniw | Create Your Badge
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HUD Owned Homes For Sale in Camden, Gloucester, & Cumberland Counties, NJ
This is the current inventory of available HUD homes in the Southern NJ counties of Camden, Gloucester, and Cumberland. These properties are bank/lender foreclosures that HUD has acquired; HUD does NOT foreclose on properties. Please note that the priority of Owner Occupant means that the properties are not yet available to investors but are only available to purchasers planning on occupying the property (signed affidavid will be required). When the priority shows All Bidders, the properties are available to owner occupant purchasers and investors.
All bidders need to be pre-approved if mortgage financing is to be used. FHA financing is usually the best for home buyers. Check with me if you need a referral to a mortgage lender.
CAMDEN COUNTY
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CUMBERLAND COUNTY
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GLOUCESTER COUNTY
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ATTENTION: Home Buyers as is outlined in the policy for forfeiture of earnest money deposit, please be aware that contract cancellations as a result of loan denial due to “property condition” will result in the forfeiture of the earnest money deposit. THIS POLICY IS STRICTLY ENFORCED.
Confirm with your mortgage lender that the approved financing program can be used on an AS-IS sale prior to submitting your bid!
I represent home buyers and home sellers as their exclusive REALTOR in the Southern NJ counties of Camden, Gloucester, Atlantic, Cumberland, Salem, & Burlington. Full REO service for asset managers.
Sign up to receive free notifications into your e-mail of new and updated HUD owned homes that come onto the market. Don’t accept second-best in your HUD purchase transactions, call The HUD Expert.
Terry Iwaniw | Create Your Badge
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The blog is back up!
Some of you may have noticed a very long gap in the blog entries. The last one was a couple of months ago and we were experiencing a problem at our end. We couldn’t access our admin site and couldn’t display any of the content. We found out it was a problem with one of the plug-in for Wordpress that we installed. We discovered this on our own after exchanging numerous e-mails with the tech people at our hosting service and the tech people at Wordpress. We kept getting finger pointing at the “other guy”. In the meantime, we posted our blog entries on all other blogs of ours except for this one.
We HAD to get this problems solved because this blog is our main one. All of the others are our secondary blogs. But we’ll be catching up. You will note there are now entries after June 24, 2009. Those are the ones that we started to update this blog with. We entered the original dates on these blogs in order to keep the flow consistent.
So, now the main blog is up and running…and it is improved! If you scroll down and look along the right sidebar you’ll see a new feature addition. The new feature is the ability to subscribe via SMS Text Messaging to recieve updates whenever we add a new blog post. This is only available on this blog. It is not on any of our secondary blogs.
So, be sure to come back often to see the updates and new content as we add it.
Terry Iwaniw
REALTOR Associate
R & I Realty, LLC
Off: 856-795-3111 x263
Cell: 609-417-1086
http://www.snewjerseyhomes.com/
http://snjrealestate.ning.com
Connect On Facebook – http://profile.to/terryiwaniw
NJ Homeowners Need to Take Action!
Posted by admin on Mar 26, 2009 in Announcements
Demand Full Restoration of Property Tax Deduction.
Governor Jon Corzine, to a joint session of the New Jersey Legislature, called for a one-year suspension of property tax deductions on state income taxes for all non-senior households, regardless of income. Responding to overwhelming public opposition, he recently changed direction and adjusted his budget proposal to include the restoration of the property tax deduction for senior citizens and households earning up to $150,000. The partial elimination of the property tax deduction is just a third of the triple whammy for homeowners under this budget plan. Households who make more than $75,000 are slated to lose their property tax rebates. Additionally, educational and municipal aid, which is used to offset property taxes, is either being frozen or cut. As the leading advocate for homeowners and the real estate industry in the state, the New Jersey Association of REALTORS (NJAR) is calling for the full restoration of the crucial deduction. Even a partial elimination of the property tax deduction undermines the basic foundation of homeownership.
In a state where the average homeowner pays more the $7,000 in property taxes it is unconscionable to balance the budget on the shoulders of property owners. All concerned citizens are encouraged to keep fighting for the complete restoration of the property tax deduction. Tell lawmakers that tax deductions residents receive from owning a home are powerful incentives to get people into the housing market. Encourage decision makers to look for ways to boost the real estate industry as a way to jumpstart our economy. Let Trenton know skyrocketing property taxes threaten New Jersey’s economic well-being.
American Recovery and Reinvestment Act
Posted by admin on Feb 20, 2009 in Announcements
The American Recovery and Reinvestment Act of 2009, H.R. 1, was signed into law by President Obama on February 17, 2009. A couple of key npoints that were supported by REALTORS® and The National Association of REALTORS® were:
- 1. $8,000 first-time home buyer tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009. View a chart detailing this provision.
- 2. Commercial real estate provisions, which focus on green building and energy efficiency as well as business tax incentives. H.R. 1 provides significant funds for New Jersey energy programs, which in turn, could help support commercial property owners’ investment in energy efficiency upgrades.
This is the perfect time to buy your next home. Besides the additional tax credits (they net against your current tax liability – if you owe money, this credit reduces that amount and if you have money being returned to you, this increases the amount you have coming), home prices are at their lowest in decades, and interest rate are at a point where they cannot go anywhere but UP.
This has also reinstated the higher loan limits for Federal Housing Administration (FHA), Fannie Mae and Freddie Mac. View the newly approved loan limit estimates. Lastly, you may want to view an outline of the Homeowner Affordability and Stability Plan, which President Obama announced on February 18, 2009 designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages.
Big Fee Increases Coming From Fannie Mae & Feddie Mac
I just read a news article that both Fannie Mae and Freddie Mac are planning on toughening up their credit score and downpayment rules. As of April 1, they will implement new guidelines for loans backed by them. The new guidelines will require buyers that are putting down less then 25% for a downpayment to be charged a penalty of 3/4 of a point (a point equals 1% of the loan amount). It won’t matter what the buyer’s credit score is, if they are putting less then 25% down for a mortgage loan, they will be penalized 3/4 (0.75%) of a point.
Buyers of duplexes, where one unit is owner-occupied and the other is rented, will be charged a 1 percent add-on as a penalty, while those who are refinancing their homes and who plan to take cash out will be charged as much as three points if they have a low to moderate equity stake in their homes.
Many major lenders are already factoring in these higher fees, which reduces the effectiveness of the stimulus efforts. Brad German, Freddie Mac’s spokesman, said that the loan categories & credit risk combinations targeted by these fees “default at four to eight times” the rate of other mortgages that were backed by Freddie Mac. The reason for these fees, according to German, “We have to manage these risks appropriately,”.
So, if you are seriously planning to buy a home, this may be an ideal time to make that offer on that special home, get under contract, and settled before your mortgage loan includes these new fees and charges. If you haven’t found that new home, yet…don’t delay! Call us NOW at 609-417-1084 so we can help you find that special new home in record time and get you moved in.
Linda & Terry Iwaniw
REALTOR Associates
First Time Home Buyer Specialist
Marketers of HUD Owned Homes
ReSales & Investment Realty, LLC
856-795-3111 x263
609-417-1084
http://www.snewjerseyhomes.com/
New Initiative In NJ for Home Owners in Foreclosure
New Jersey has implemented a new initiative called the NJ Judiciary Foreclosure Mediation Program for home owners who are in foreclosure. NJ is trying to help prevent as many foreclosures in the state as possible. Foreclosures are not a winning solution for any of the parties in today’s economy. The home owners don’t want to lose their homes, the banks don’t want any more asset on their books that will take months to dispose of (at a substantial loss, probably), and the municipalities don’t want the vacancies and loss of property tax revenues.
So, if you’re one of the NJ home owners currently facing foreclosure, check out our web site that outlines the different options you have (the sale of your home is NOT the only option you have) besides waiting for foreclosure. We also have details on the NJ Judiciary Foreclosure Mediation Program.
Did you hear the latest news? Senate OKs $15,000 tax break for homebuyers
The housing industry should get a big boost from the latest addition to the stimulus bill that is working its way through the Congress. On Wednesday, Senators approved a proposal that would give home buyers a tax credit of 10% of the value of new or existing residences, up to a $15,000 limit. The current law, that was passed last year, provides for a $7,500 tax break and only for first-time homebuyers.
Sen. Johnny Isakson, (R-Georgia) said “It is time to fix housing first.” Isakson’s office said the proposal would cost the government an estimated $19 billion. In all, the stimulus is now topping an estimated $920 billion.
President Barack Obama, in an op-ed that appears in Thursday’s Washington Post, painted a dire picture if Congress fails to move quickly to pass the stimulus bill. “This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse,” Obama wrote in the op-ed titled, “The Action Americans Need.“
Fannie Mae & Freddie Mac To Extend Eviction Moratorium
Fannie Mae and Freddie Mac on Friday again extended their moratorium on evictions of borrowers or renters facing foreclosure through Feb. 28. The companies also announced plans to expand rental options after defaults and to develop a new rent-to-own program.
Details of the programs include:
- Month-to-month leases for borrowers and renters;
- Property management companies hired by Freddie and Fannie will set market-value rents;
- Tenants and homeowners will be asked to demonstrate that they have enough money to pay the rent.
“Keeping foreclosed properties occupied and in better repair will support local property values and promote a faster recovery in the housing market,” David Moffett, Freddie Mac’s chief executive officer, said in a statement.
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Speaking of Real Estate
- Karl Case: ‘America Dream Alive and Well’ September 3, 2010 Robert Freedman
- Standing Up for Homeownership August 30, 2010 Brian Summerfield
- Another Pro Bono Success Story August 30, 2010 Katherine Tarbox
- Responding to Criticism: How’s Your Online Rep? August 26, 2010 Melissa Tracey
- Prices Holding Up Well Despite Everything August 25, 2010 Robert Freedman
- Free Tips Help Home Owners Do an Insurance Checkup August 20, 2010 Brian Summerfield
- Four More Days: Help Heart 2 Home Win August 18, 2010 Stacey Moncrieff
- Feds GSE Reform Meeting: Keep Guarantees August 17, 2010 Robert Freedman
- AZ Article Touts Agents’ Social Media Savvy August 16, 2010 Stacey Moncrieff
- Regulator Eyes Private Transfer Fees August 12, 2010 Robert Freedman
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