Oct

11

Football Schedule Week by Week for you guys!!!!

Posted by tattoorealtor under For Buyers, For Realty Professionals, For Sellers, General Information

Hello All,

JUST CLICK ON THE NFL LOGO FOR THE SCHEDULE….

 

 

Start typing here…
 

Continue typing here…
 

Finish typing here…

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Jul

7

What???My home went to Foreclosure Auction? I wish I knew what to do to buy more time…

Posted by tattoorealtor under For Buyers, For Realty Professionals, For Sellers, General Information

Hello Everyone,

This is what I heard a couple days ago from a Father who lost his home.

I was assigned a home to list for a Bank that went to auction a couple of weeks ago.

When I am given an assignment/property my job is to make contact with the former owner & see what his/her intentions are with the property.(Not my favorite part of the job!)

Some people have been nice, some people have been mean. I understand, but I am just a messenger.

Most banks offer people, what is called a “Cash for Keys Agreement” “ Example- if they move out of the home in 30 days, they will get $3,500 instead of going through an Eviction. They must not destroy the home or remove the appliances. It has to be left in broom swept condition.

Times are tough today. Many of us are upside down & have an interest only loan under our belts. Our patience has been tested with trying for a loan modification. Banks losing paperwork even though you have faxed, mailed it, fed ex, & sent a pigeon to drop it off.

After hearing those words out of mouth & seeing his young daughter cry. I felt it was necessary to post this note.

I am not an attorney & trying to give legal advice. I should of been one, but that is a another story.

This is for the state of California ONLY, each state is different.

After you miss 3 to 4 payments on your mortgage (I have seen more payments missed, but traditional it is 4) the bank will post a Notice of Default(NOD). That is the beginning stage of foreclosure.

When you are given an NOD – Notice of Default from your lender – Traditional you have 3-4 months, until a NOS(Notice of Sale) is posted. An NOS is when the lender will publicly place your home up for sale in the County Court Steps. It is an Auction. If no investor bids on the property, the bank in essence buys it back & that is what is called an REO (Real Estate Owned) bank owned home.

If you are in a foreclosure status, banks cannot accept a payment from you unless there is an agreement made. If a bank accepts a payment in a foreclosure (unless it is the total amount due) the foreclosure is null & void. They will continue the foreclosure process, but postpone auction dates. Most loan modifications in the beginning are trial bases, so if you miss a payment they do not have to start over the foreclosure process.

To my point…There are 2 ways to buy more time if you in these late stages at an NOD(Notice of Default) & NOS(Notice of Sale).

1. If you were denied a loan modification & have an Auction Date. You can put your home on the market for a short sale (Unless you have equity). Most lenders do not want to foreclose because it costs them more money in the long term.

I have postponed auction dates 1-2 before they happen with a request for a short sale. (This option is free) My commissions are paid by the bank, NOT out of your pocket.

2. You can file bankruptcy. Bankruptcy will postpone the foreclosure process for several months. There are requirements to file bankruptcy. Most bankruptcies cost between $2,000 – $3,500, depends on your situation.

I handle all Los Angeles & Ventura Counties. If they are out of state, I can find them a realtor too.

If they want to speak to me directly please forward my information. I am FREE and I will give them the facts or lead them in the right direction.

I have contacts for Real Estate Attorneys, Bankruptcy Attorneys, and CPAs for legal & tax advice.

I truly love to help people in need, it is good KARMA.

If you know anyone that will value from this. Please pass forward them this note

Respectfully Yours,

Eddy “The Tattoo Realtor” & “Your Short Sale Angel”
805-279-1234 Cell Phone
888-716-8408 Toll Free/Fax
www.TattooRealEstate.com

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Apr

13

NO MORE STATE TAX ON FORGIVEN DEBT – This is really good news for Short Sales

Posted by tattoorealtor under For Sellers, General Information

Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification.   Enacted into law yesterday, Senate Bill 401 generally aligns California’s tax treatment of mortgage debt relief income with federal law.   For debt forgiven on a loan secured by a “qualified principal residence,” borrowers will now be exempt from both federal and state income tax consequences.   The existing  federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.”Qualified principal residence” indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence.   It includes both first and second trust deeds.   It also includes a refinance loan to the extent the funds were used to payoff a previous loan that would have qualified.The tax breaks apply to debts discharged from 2009 through 2012.   Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.
 
Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions.   Most notably, taxpayers who are bankrupt are exempt from debt relief income tax.   Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.For more information about mortgage forgiveness tax consequences, go to California Franchise Tax Board’s Mortgage Forgiveness Debt Relief Extended  webpage and the Internal Revenue Service’s Mortgage Forgiveness Debt Relief Act and Debt Cancellation  webpage.   The full text of Senate Bill 401 is available at www.leginfo.ca.gov.  

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Apr

3

Happy Easter Weekend!!!! Looking for some golf courses in Ventura & LA Counties…Here you go

Posted by tattoorealtor under For Buyers, For Realty Professionals, For Sellers, General Information

Just Click on Chevy Chase & get your list of golf courses

Wow, it sure has been awhile since I blogged.

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Nov

5

Senators agree to extend homebuyer tax credit…Sweet!!!

Posted by tattoorealtor under For Buyers, For Sellers, General Information

Senators agree to extend homebuyer tax credit! This is good news for the real estate industry!

See article from MSN…

http://www.msnbc.msn.com/id/33522046/ns/business-real_estate/

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Oct

30

Outstanding Real Estate News… FHA LOAN LIMITS & $8,000 TAX CREDIT

Posted by tattoorealtor under For Buyers, For Sellers, General Information

The $729,750 Fannie Mae, Freddie Mac, and FHA loan limits have been extended through December 31, 2010.

The $8,000 First Time Buyer Tax Credit is still being worked on. We should hear early next week. It looks like they are going to expand it to all buyers for their principle residence with certain income restrictions.

They are talking about extending it through end of June, 2010 closing with end of April going into escrow. Once it passes, I will keep you posted

Happy Halloween Everyone, Be safe!

Eddy

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Oct

22

Realtors with Tattoos? I get a lot of slack for it, but who really cares!

Posted by tattoorealtor under For Buyers, For Sellers, General Information, Just Thoughts

I laugh at times, because  people give me slack for marketing myself as the “The Tattooed Realtor.”

Some  Realtors, believe I am bringing down the industry standard of the image of a Realtor.  We should dress professional,  you know  the  text book  Realtor look…  Suit, Tie, & the award winning “Classic” smile.

I just think it is funny because the general public ranks us between “Used Car Salespeople” and “Attorneys.”

So again,  How am I bringing down the industry standards?

I have been in this business for over ten years. My  KNOWLEDGE is my suit & tie. My  PERSONALITY is my “Classic Look!”

It cracks me up because Real Estate is all about Marketing. This person might not agree to what I’m doing, but they remember me.

My clients trust me for my knowledge, my non-B.S. attitude, & my work ethics.

When choosing a Realtor, make sure you feel comfortable with them. You can trust them!

Most of my clients are now some of my really good friends. I love that!

 Feel free to write some thoughts on the topic, whenver good or bad. I can handle it.

 Respectfully Yours,

 Eddy “The Tattooed Realtor”

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Sep

21

The winner of the $500 Drawing was announced!

Posted by tattoorealtor under For Buyers, For Realty Professionals, For Sellers, General Information

I forgot to post this one, my bad.

Natalie Barbera of Moorpark won the $500 Drawing.

Congratulations!!!

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Aug

13

$500 Drawing to Spend at the Simi Valley Town Center Mall

Posted by tattoorealtor under For Buyers, For Realty Professionals, For Sellers, General Information

My Company is giving away a $500 Gift Card to Spend at the Simi Valley Town Center Mall.

The drawing will be held on Monday August 31, 2009. Winner need not to be present.

Please go to the link below for details…

http://www.tattoorealestate.com/luckywinner.html

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Aug

12

Welcome to Eddy Milanes’s Blog!

Posted by tattoorealtor under For Buyers, For Realty Professionals, For Sellers, General Information

Welcome to Eddy Milanes’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Simi Valley.

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