Get Your Offer In!  Get Your Own List of HUD Owned Home. Don’t loose out on another deal.

	1037 Hamilton Dr, Vineland, NJ Listed At:  $195,000 Sold At:  $155,000 SAVED – $40,000
	12 Prichard Ln, Sicklerville, NJ Listed At: $140,000 Sold At: $125,000 SAVED – $15,000
	256 New York Ave, Newfield, NJ Listed At: $116,000 (Appraised at $145,000) Sold At: $100,000 SAVED – $16,000
	314 Oxford St, Vineland, NJ Listed At: $72,000 Sold At: $53,000 SAVED – $19,000
	35 Colgate Rd, Atco, NJ Listed At: $148,500 (Appraised at $165,000) Sold At: $125,000 SAVED – $23,500
	3803 Tall Pines, Pine Hill, NJ Listed At: $113,000 Sold At: $85,000 SAVED – $28,000
	434 La Cascata, Clementon, NJ Listed At: $55,000 Sold At: $47,500 SAVED – $7,500

Want to find your own HUD owned home bargain?  Don’t miss out on another one!   Complete the form here or
call us at
609-417-1086.

Terry Iwaniw
============================
REALTOR Associate
ReSales & Investment Realty, LLC
http://www.terryiwaniw.com/
http://www.njhudsales.com/
Direct: 609-417-1086
Office: 856-795-3111 x263
============================

Terry Iwaniw
REALTOR Associate
ReSales & Investment Realty, LLC
Off: 856-795-3111 x263
Cell: 609-417-1086
http://snjrealestate.ning.com
http://www.snewjerseyhomes.com
Connect on Facebook – http://profile.to/terryiwaniw

Linda & Terry Iwaniw | Resales & Investment Realty | 856-795-3111 x262 16 N Nashville Ave, Ventnor City, NJ 7 Bedroom Home includes a 1 bedroom apt on the lower level in Ventnor City For Sale 7BR/3BA Single Family House offered at $369,900 Year Built Unspecified Sq Footage Unspecified Bedrooms 7 Bathrooms 3 full, 0 partial Floors 2 Parking 1 Car garage Lot Size 2,800 sqft HOA/Maint $0 per month DESCRIPTION What a wonderful opportunity to own a classic seashore home and get a little help with the payments with the lower level apartment. This single family house boast 6 bedrooms and 2 full baths, living room with fireplace, full kitchen and dining room. The ground floor apartment has 1 bedroom + small guest room, 1 bath, kitchen and living room. Outside has an upper deck and lower patio for plenty of outdoor entertaining. This outstanding value is located only 1 block from the bay so you can watch stunning sunsets and just a few blocks to the beach. Don’t pass up this chance to live at the shore year round or have a great large summer house for a summer full of fun. Owners said “Bring ALL OFFERS”. see additional photos below PROPERTY FEATURES Fireplace Hardwood floor Living room Dining room Basement Balcony, Deck, or Patio ADDITIONAL PHOTOS Photo 1 Photo 2 Photo 3 Photo 5 Photo 6 Photo 1 Contact info: Linda & Terry Iwaniw Resales & Investment Realty 856-795-3111 x262 For sale by agent/broker Equal Opportunity Housing Posted: Jun 16, 2009, 9:31pm PDT

]]> http://terryi.com/reblog/archives/649/feed 0 http://terryi.com/reblog/archives/629 http://terryi.com/reblog/archives/629#comments Fri, 12 Jun 2009 20:14:16 +0000 admin http://terryi.com/reblog/?p=629 The first stage in the foreclosure process is Preforeclosure
This is when the bank files the foreclosure lawsuit. In some states, its called the Notice of Default and in other states, it’s called a Lis Pendis. The bank can file the foreclosure lawsuit when the borrower becomes 3 payments behind.

During this period, the borrower has options to solve their situation:
- They can pay off the lender in full.
- They can bring the loan current for all of the past due payments and attorneys fees due.
- They can do a workout with the lender to negotiate a repayment plan, loan modification of forbearance.
- They can sell the house and move
- They can sell the house to an investor and lease it back
- They can refinance the home with an equity lender.
- If they owe more than the home will sell for, they can do a short sale with the lender. This stage only occurs in a judicial state, It does not occur in a non-judicial state.

The 2nd Stage in the foreclosure process is the Auction or Trustee Sale
- This is where the bank brings the property to public auction.
- The sale date is set by a hearing 3-4 weeks before the actual auction occurs.
- The homeowner has the right to attend the hearing and request an extension to get the home sold. Most of the homeowners we work with that attend this hearing can buy themselves an additional 3 days for a total of 60 days.
- 95% of the homes that go to auction go back to the bank as an REO.

The 3rd stage in the foreclosure process is the REO stage
- REO stands for Real Estate Owned. This usually costs the bank anywhere from 35,000 -50,000 to take a home back in foreclosure. This is the 3rd and last stage of the foreclosure process in a judicial state. The property becomes an REO if the property does not sell to a third party bidder at the auction.

Foreclosure Timeline
The time line for a foreclosure dictates the options you have. The longer you wait to deal with the problem the less options you have.

30-90 Days late
Many more options – including saving your home – than folks know about, and many are not very painful.

90 Days +
The absolute best options and opportunities to save your home lessen and are much more restrictive. This also diminishes some of the sales opportunities.

Attorneys letters – Lis pendens
Several easy solutions are no longer available.

Sheriff notice
We can still salvage your credit and possibly your equity, but every day you allow to go by reduces your options.

Sheriff sale and foreclosure!!
A foreclosure will be on your credit report for at least 7 YEARS. But, worse than that, PUBLIC RECORDS will show this legal action for the statutory period of a judgment in New Jersey! The bank will file a deficiency judgment that must be satisfied before you can buy another house. This does NOT happen with the other options we can employ for you. With foreclosure, your credit is devastated. The reduction in your credit score is more then 2 or 3 times what it is for some other options. That means higher interest rates AND higher purchase prices for almost anything you want to buy.

Short Sale Instead of Sheriff Sale
We can assist you with bringing your credit back to a level for you to again own your own home much sooner than you think. The government is responding to the housing crisis by offering legitimate mortgage options so people don’t have to resort to subprime mortgages and predatory lenders anymore.

Are you behind on your payments? See what your option are at http://www.i-teamhomes.com/foreclosure.htm or call us at 609-417-1084. Don’t lose your home unnecessarily.

A: The $8,000 tax credit is available for first-time home buyers only. The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. All U.S. citizens who file taxes are eligible to participate in the program.

Q: Are there any payback provisions?

A: The tax credit is a true credit. It does not have to be repaid. The only repayment requirement is if the home owner sold the home within three years after the purchase.

Q: Are there income limits to qualify for the credit?

A: Home buyers who file as single or head-of-household taxpayers can claim the full $8,000 credit if their modified adjusted gross income (MAGI) is less than $75,000. For married couples filing a joint return, the income limit doubles to $150,000.

Single or head-of-household taxpayers who earn between $75,000 and $95,000 are eligible to receive a partial first-time home buyer tax credit. Married couples who earn between $150,000 and $170,000 are eligible to receive a partial first-time home buyer tax credit.

The credit is not available for single taxpayers whose MAGI is greater than $95,000 and married couples with a MAGI that exceeds $170,000.

Q: What are the effective dates for the tax credit?

A: First-time home buyers would receive an $8,000 tax credit for the purchase of any home on or after January 1, 2009 and before December 1, 2009. To qualify, you must actually close on the sale of the home during this period.

Q: Is the tax credit refundable?

A: Yes. A refundable credit means that if you pay less than $8,000 in federal income taxes, then the government will write you a check for the difference. For example, if you owe $5,000 in federal income taxes, you would pay nothing to the IRS and receive a $3,000 payment from the government.

If you are due to receive a $1,000 tax refund from the government, your refund would grow to $9,000 ($1,000 plus $8,000 from the home buyer tax credit).

Q: What years can buyers apply the tax credit to their tax returns?

A: Buyers can take the tax credit on their 2008 or 2009 income tax return.

Q: What types of homes qualify for the tax credit?

A: All homes, whether single-family, townhomes or condominium apartments will qualify, provided that the home will be used as a principal residence and the buyer has not owned a principal residence in the prior three years. This also includes newly-constructed homes.

Q: Where can I find more details on the tax credit?

A: NAHB has a consumer Web site that provides comprehensive information on the tax credit. The Web site is www.federalhousingtaxcredit.com

If you have any other questions or need further details, call us at either 609-417-1084 or 609-417-1086.

Linda & Terry Iwaniw
ReSales & Investment Realty, LLC
856-795-3111 x263
http://www.snewjerseyhomes.com
info@i-teamhomes.com

We have previously highlighted another type of conventional loan that requires NO down payment, NO monthly PMI, where the seller is allowed to pay all reasonable closing cost and prepaids, and NO hit to the rate for the zero down, it is NOT a first time home buyer program and no reserves needed.

But did you know that this particular mortgage also has a unique feature that all reasonable closing cost and prepaids can be rolled into the mortgage without the seller actually having to “pay” the cost (as long as the house appraises for the increased loan amount)?   Why is this a good thing?  We have had buyers who have submitted offers for homes that included seller concessions for the home sellers to help with the closing costs, only to have those offers rejected.  Now buyers have another option and are not at the mercy of the homes eller.  It is a conventional loan that has these great options and it is government backed loan (like FHA loans) but is backed by the USDA.

The downside of this loan is that tt is area-specific and income-limited, so it is important that you work with a lender who is very knowledgeable with these loan guidelines.  If you are interested to find out which areas are eligoible for USDA loans, click here.

If you need help in finding a knowledgable lender or to better understand how this loan can be of benefit to you, or just give you some assistance with your home search and loan pre-qualification steps, simply call us at 609-417-1084 or email us at info@i-teamhomes.com

.

The New Jersey Housing Mortgage Finance Agency (NJHMFA) is offering cash payments, in the form of a zero interest loan, of up to $5,000 for qualified first-time home buyers in order to help them defray their closing costs or to satisfy the downpayment requirements.  This will then help new home buyers get into the housing market and buy their first home.

This zero interest loan, offered as part of NJHMFA’s “Prefund” program, would act like a cash advance against the $8,000 tax credit that is being offered to first time home buyers who purchase their home between April 8 and December 1 of this year. Basically, home buyers would be provided with the payment as a loan and would be required to repay the advance/loan when they receive their federal tax credit.

Who can get this zero interest loan/cash advance?  The loan/cash advance is available to first time home buyers who:

• Arrange their financing through the NJHMFA. (You can obtain a list of participating lenders by calling their toll-free number at  (800) NJ HOUSE)

• Are qualified for the tax credit offered as a part of the federal stimulus program

• Pledge to apply the proceeds of their tax credit to repay the cash

For more details about the NJHMFA’s First Time Home Buyers Tax Credit Loan Program (TCLP) you can visit the HMFA page (http://www.state.nj.us/dca/hmfa/consu/buyers/ownprg/tclp.html).

For the month of February 2009 -

• New Listings Added in February – 92 (25.1% of the Total Avg Listings of 366)
• Average asking price – $279,372 (94.2% of the Total Avg Price of $296,720)

• Properties that are Pending Sales (Under Contract, Not Settled) – 23
• Average Price: $245,300

• Properties that Settled in February – 27
• Average sold price – $214,457 (90.8% of average asking price)
• Average Days On Market: 90 days

We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call us at 609-417-1084.

For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/

Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/

If you are interested in HUD owned homes currently for sale , go to: http://www.njhudsales.com.

Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm

.

Linda & Terry Iwaniw
REALTOR Associates
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
ReSales & Investment Realty, LLC
856-795-3111 x263
609-417-1084
http://www.terryi.com/
http://www.snewjerseyhomes.com/

For the month of February 2009 -

• New Listings Added in February – 56 (20.1% of the Total Listings on the Market of 278)
• Average asking price – $249,424 (100.7% of the Total Avg Price of $247,751)

• Properties that are Pending Sales (Under Contract, Not Settled) – 10
• Average Price: $197,160

• Properties that Settled in February – 14
• Average sold price – $233,114 (88.4% of average asking price)
• Average Days On Market: 120 Days

We can provide you with a complete and accurate market analysis for your home with an analysis of the market area it is located in. By knowing the value of your home you have a basis to start selling your home. If you want to know the value of your home and to receive a no-cost home evaluation, please call us at 609-417-1084.

For first time home buyers, purchasing your first home can be a very stressful experience. We can help eliminate that stress and help you through the process. We work closely with many first time home buyers and understand your concerns. First Time Home Buyer Programs, 0% and No Money Down Programs, Conventional, FHA, and VA Financing (To Qualified Buyers). Seller Assist with Closing Costs, New Homes Existing Homes in Great Neighborhoods, Fixer Upper Properties. We search all of Camden, Burlington, Gloucester, Salem, Cumberland, and Atlantic Counties. Go to http://www.homes4firsttimebuyers.com/

Looking for a fixer upper property? Willing to put in some “sweat equity” to buy your next home at a bargain price. Get a complete listing of fixer uppers in your area by going to http://www.bestfixerhomes.com/

If you are interested in HUD Owned homes currently for sale , go to: http://www.njhudsales.com/.

Are you behind on your mortgage? We can help you! We are the Foreclosure Prevention Consultants. We’ve been where you are now, don’t make the same mistakes we did. See what we can do for you at http://www.i-teamhomes.com/foreclosure.htm

.

Linda & Terry Iwaniw
REALTOR Associates
First Time Home Buyer Specialist
Foreclosure Prevention Consultant
ReSales & Investment Realty, LLC
856-795-3111 x263
609-417-1086
http://www.snewjerseyhomes.com/