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Looking for Foreclosure Help?

 

It can be difficult to find legitimate help for foreclosure issues because of the many scams that abound these days.  It’s shameful that there are still people who take advantage of distressed homeowners.  Here is a list of programs to help that are either operated by the U.S. government or have the government seal of approval.

• To find a counselor, contact the U.S. Department of Housing and Urban Development (HUD) at (800) 569-4287 or www.hud.gov/offices/hsg/sfh/hcc/hccprof14.cfm
• Call (888) 995-HOPE, the Homeowners HOPE Hotline to reach a nonprofit or www.hopenow.com
• Visit neighbor works America web site:  www.nw.org
• Go to this website for information on federal mortgage modification and refinancing programs:  www.makinghomeaffordable.gov

Tax credits fuel 6 pct. rise in April home sales

WASHINGTON (AP) — A rush of homebuyers aiming to meet a deadline to qualify for a federal tax credit pushed the number of signed sales contracts to the highest level since October.

The National Association of Realtors said Wednesday its seasonally adjusted index of sales agreements for previously occupied homes rose 6 percent in April from a month earlier to a reading of 110.9. March’s reading was revised upward to 104.6.

The rise marked the third consecutive month of increases, all of them aided by federal tax credits of up to $8,000.

But the tax credits expired on April 30. Many analysts expect sales to drop in the coming months.

Even though mortgage rates are near record lows and home prices have declined dramatically, potential buyers are unlikely to act if they don’t have jobs or fear that their jobs are in jeopardy.

“Clearly, the race to meet the tax credit deadline has left the home-buying pipeline rather empty, and we fear that still high unemployment, heavy indebtedness and tight credit will mean that it stays that way,” wrote Paul Dales, U.S. economist with Capital Economics.

Evidence of a slowing market was apparent Wednesday when the Mortgage Bankers Association released a weekly report on applications to purchase homes. Applications fell for the fourth-straight week to the lowest level since April 1997. Plus, foreclosures are still at extraordinary levels, which is likely to push down home prices in the second half of the year.

Investors, however, seemed pleased with the April rise in pending home sales. The Dow Jones industrial average rose more than 60 points in early trading.

Some analysts are less fearful than others. Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote that he expects “a gentle recovery once the plunge following the end of the tax credit is over.”

The Realtors index provides an early measurement of sales activity because there is usually a one- to two- month lag between a sales contract and a completed deal. A reading of 100 is equal to the average level of sales activity in 2001, when the index started.

Congress included a temporary tax credit to boost home sales in the $787 billion stimulus package signed into law a month after President Barack Obama took office. The idea was to bring the housing market back to life. Lawmakers, after intense lobbying from the real estate industry, agreed last fall to extend it and expand it to more buyers.

First-time buyers were eligible for a tax credit of up to $8,000. Current owners who bought and moved into another home could qualify for a credit of up to $6,500. To qualify, buyers had to have a signed sales contract by April 30 and must close the sale by the end of this month.

About 2.6 million households had used the credit as of late April at a cost of $18.7 billion, according to the Internal Revenue Service.

The biggest boost for pending sales was in the Northeast, where sales rose nearly 30 percent. Sales were up 7.5 percent in the West and about 4 percent in the Midwest. They fell 0.6 percent in the South.
   
Copyright 2010 The Associated Press.

Voted 2010 BEST Real Estate Company!

 

You voted and the results are in…Coldwell Banker Primus was voted 2010 Best Real Estate Company in McHenry County by the Best of the Fox – Northwest Herald Readers’ Choice Awards! 

We are grateful to have received such an honor by YOU…the everyday, hardworking people we work for!  Coldwell Banker Primus is always committed to consistently deliver exceptional support and service with professionalism, integrity and trust. 

Utilizing Coldwell Banker’s innovative marketing programs and supported by its strong Internet presence, we have earned the prominence of a market leader.

In addition…Fox Valley Financial (our sister company) was named as One of the Best of the Fox winners!  Just another reason Coldwell Banker Primus is a “one stop shop” for all your real estate needs.  Fox Valley Financial strives to provide everyone with mortgage expertise along with individualized attention.  The service you deserve when dealing with one of your most valuable assets. 

We’d like extend a THANK YOU to all who voted!  We hope we can continue to earn your trust and business!

Check your know-how on various homeownership related matters.

See how many questions you can answer correctly. (The answers are listed below.)

1. Which cut lumber is thicker: a 2-inch by 4-inch board or a 2-inch by 6-inch board?
2. Which is thinner: a termite’s waist or a flying ant’s waist?
3. Which is colder: 30 degrees Celsius or 30 degrees Centigrade?
4. Which is typically hotter: the air supply temperature of a warm air furnace or the air supply temperature of a heat pump?
5. Which is longer: a six penny nail or a ten penny nail?
6. Which wood is denser: oak or pine?
7. Which will freeze first: hot or cold water?
8. Which produces more light: a 20-watt compact fluorescent bulb or a 60-watt incandescent bulb?
9. Which is lighter: natural gas or propane gas?

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Here are the answers:

1. They are the same thickness. 
2. A termite’s waist is thicker (probably from eating your house). 
3. Both these measurements indicate the same temperature, although the Centigrade scale was formally changed to Celsius in 1948. 
4. A standard furnace delivers hot air in the 130-140 degrees F range while a typical heat pump’s temperature range is 90-100 degrees F.
5. A six-penny nail is 2 inches long and a ten-penny nail is 3 inches long.
6. Oak wood is approximately 50% denser than pine wood.
7. While hot water will cool to a lower temperature faster than cold water, cold water will freeze first.
8. An energy efficient 20-watt CFL bulb can actually produce more light than a standard 75-watt incandescent bulb and is expected to last 10 times longer.
9. LP (liquid petroleum) gases, which include Propane, are heavier than natural gas. Since LP gases are heavier, they will accumulate at low points and pose a higher risk.

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Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. Improve your Homeowner IQ by subscribing to the complimentary HouseMaster Homeowner Electronic Newsletter. This monthly how-to newsletter is full of household information and maintenance tips. It pays to be informed. More home safety and maintenance information is available online at housemaster.com. This information is provided for general guidance purposes only. Neither DBR Franchising, LLC nor the local HouseMaster® franchise warrants its accuracy and assumes no liability related to its use. Contact the local franchise office and/or qualified specialists for advice pertinent to your specific house or circumstances. © Copyright 2008 DBR. Each HouseMaster franchise is an independently owned and operated business. HouseMaster is a registered trademark of DBR Franchising, LLC.