REMAX REAL ESTATE FORECLOSURES

88 DAYS LEFT FOR THE $8,000 LAS VEGAS FIRST TIME HOMEBUYER'S TAX CREDIT

88 DAYS LEFT FOR THE $8,000 LAS VEGAS FIRST TIME HOMEBUYER'S TAX CREDIT

 Team Ratliff - Weekend Report – September 4, 2009

LAS VEGAS INTEREST RATES ARE DOWN THIS WEEK.  Below 5% on most loans!!   Rates are at a three-month low.  Pending home sales jumped this week to a two-year high.

IMPORTANT REMINDER:   THERE ARE ONLY 88 DAYS LEFT FOR THE $8,000 LAS VEGAS FIRST TIME HOMEBUYER'S TAX CREDIT.

The tax credit expires on November 30, 2009, if not extended.   If you do not close escrow by this date, you will be ineligible for the $8,000 tax credit.   You should allow 30- 45 days to close escrow today.   This means you want to be in contract by October 15, 2009.  

WEEKEND RATES - PLAN ON AROUND:

4.875 % (APR 5.129) FOR A 30 YR FIXED CONVENTIONAL LOAN (OWNER OCCUPIED OR SECOND HOME) with 1.125 points , NO ORIGINATION FEE!

4.875 % (APR 5.096) FOR A 30 YR FHA / VA LOAN, WITH .750 POINTS, NO ORIGINATION FEE!

5.500 % (APR 5.763) ON A 30 YR JUMBO LOAN OVER $417,000 with 1.125  POINTS, NO ORIGINATION FEE!

5.000 % (APR 5.244) ON A 5 YR JUMBO ARM OVER $417,000 with 1.000 POINTS, NO ORIGINATION FEE! 

6.000 % (APR 6.260) ON A 30 YR INVESTOR (NON-OWNER OCCUPIED) LOAN UNDER $417,000 WITH 20% DOWN with 1.000 POINT, NO ORIGINATION FEE (720 mid score)!

5.375 % (APR 5.636) ON A 30 YR INVESTOR LOAN (NON-OWNER OCCUPIED) UNDER $417,000 WITH 25% DOWN with 1.125 POINT, NO ORIGINATION FEE (720 mid score)!

That’s 42 days to find a house.

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Las Vegas Home Loan Modification

Las Vegas Home Loan Modification

 
Las Vegas Home Loan Modification has become the solution of choice for people facing unaffordable mortgages and foreclosure, but as the market for mortgage assistance grows, the number of misinformed homeowners is also rising steadily. A lot of people enter Las Vegas loan modifications with serious misconceptions, and end up making the wrong decisions, based on inaccurate information.

LAS VEGAS SHORT SALE HELP

You can stop the Las Vegas foreclosure process. It’s true that your chances dwindle the longer you wait, but until your home is auctioned off, no one can really kick you out. A Las Vegas home modification can stop the process as close as seven days before the sale date.

LAS VEGAS SHORT SALE HELP

Your lender would benefit from a Las Vegas home loan modification as much as you. In some cases, foreclosure is the more practical option. But according to a Tower Group study, lenders lose substantial money with every foreclosure, and are required to increase their reserves in addition. The banks already own too many Las Vegas foreclosure properties and have too many non-performing loans on their books. They would much prefer to adjust your mortgage to something affordable and convert your loan into a performing asset. Don’t be intimidated by threats of foreclosure.

 LAS VEGAS SHORT SALE HELP

Las Vegas home Loan modifications really work, but they take time and the right expertise. Depending on how far behind you are, the process can take anywhere from one to three months. But since it stops the foreclosure process, you won’t have to worry about losing your home while the modification is under way. If you submit your paperwork on time and cooperate with your lawyer, you can speed up the process and avoid complications.

LAS VEGAS SHORT SALE HELP

Your credit score don't matter. Standard requirements vary from lender to lender, but the bottom line is that the Las Vegas loan modification should make financial sense to your bank. Your credit rating doesn’t have anything to do with it. Your lender will want proof that falling behind was a temporary snag, and that you can afford to stay on track if they do modify your loan. This means you have to have a job and a valid proof of hardship. You don’t need to disclose your credit rating in most circumstances.

Loan Modification

A Las Vegas loan modification is an agreement made between a lender and a homeowner where the rate and terms of the original loan are restructured without the process of a full refinancing.

 

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What does FHA have for you?

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Las Vegas VA Loan

Las Vegas VA Loan

WHY A VA LOAN!!!!!!!!!

Las Vegas VA Loan
More than 27 million veterans and service personnel are eligible for VA financing. Even though many veterans have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.

Before arranging for a new mortgage to finance a home purchase, veterans should consider some of the advantages of VA home loans:

• Most important consideration, no down payment is required in most cases.
• Loan maximum may be up to 100 percent of the VA-established reasonable value of the property. Due to secondary market requirements, however, loans generally may not exceed $417,000 ($625,500 for loans in Hawaii, Alaska, Guam and U.S. Virgin Islands). This figure is subject to change each year.
• Flexibility of negotiating interest rates with the lender.
• No monthly mortgage insurance premium to pay.
• Limitation on buyer's closing costs.
• An appraisal, which informs the buyer of estimated property value.
• Thirty-year loans with a choice of repayment plans.
• Traditional fixed payment: (constant principal and interest: increases or decreases may be expected in property taxes and homeowner's insurance
• An assumable mortgage, subject to VA approval of the assumer's credit.
• Right to prepay loan without penalty.
• VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during temporary financial difficulties.

Let FHA Loans Help You

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If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!

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Las Vegas Foreclosure Workshop For Those Who Will Lose There Homes

Las Vegas Foreclosure Workshop For Those Who Will Lose There Homes

Las Vegas Foreclosure Workshop For Those Who Will Lose There Homes and for those who have lost there homes will be held from 8:00 A.M. to noon Nov.1st. 2008 at 730 W. Cheyenne Road, Suite 130 and will offer advise from experts. Call 702-221-6224, ext. 1700, for more information.

Las Vegas homeowners facing foreclosure also can contact the these organizations for help:

• Consumer Credit Counseling Service: 702-364-0344
• Homeownership Preservation Foundation: 888-995-HOPE

Buying your first home?

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If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!

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Las Vegas Bank Owned REO Sales

Las Vegas Bank Owned REO Sales

Las Vegas Bank owned REO sales still accounted for seventy-one percent (71%) of all residential closings. See links for  REO transaction help below.

·         The number of available listings remained level and still hovers around 15,000 for single family residences.

·         Average cumulative DOM dipped to 157

• 30 Day absorption rate jumped to 17.5%
• Absorption rate Year over Year comparison 4.6% last year to 17.5% this year
• Listing prices dropped 27% October 2007 to 2008
• Closed Sales well above 2006 levels for September
• Closed Sales prices dropped almost 7% for September
• September represents the 5^th consecutive month for over 2000 single family closings

Here are some new stats related to financing - a  departure from early 2008:

• Cash 15% of all closings in September
• Conventional 34% (sold on secondary market through Fannie Mae or Freddie Mac; severe liquidity problems and intensely restricted guidelines for qualified buyers in great FICO score ranges)
• FHA 46% (FHA/VA both sold on secondary market through Ginnie Mae in good liquidity shape when we need it and that’s clearly beneficial for our market)
• VA 4% 

http://www.lvrj.com/business/30674819.html

What To Know About REO...

Buying your first home?

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If you are interested in relocating to Las Vegas or would like information on Las Vegas real estate, please email me, Bob Ratliff with RE/MAX CENTRAL LAS VEGAS, at rratliff@remax.net, or call me at 702-807-5528. I look forward to hearing from you!

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Meritage Homes Las Vegas

Meritage Homes Las Vegas

Meritage Homes Las Vegas is proud to build in Master Planned Communities, and offer more home choices and amenities to enhance your quality of life.

YOU GET TO CHOOSE!!

$0 Down Payment & Closing Costs

4.875% Fixed 30 Years

D.R. Horton Las Vegas Announces Price Reduction

D.R. Horton Las Vegas Announces Price Reduction

D.R. Horton Las Vegas announced a price reduction on over 100 Las Vegas homes for the weekend of May 31 - to June 1. D.R. Horton Las Vegas has over 38 neighborhoods located in the Las Vegas valley. This sale is marketed as the "Great $#&?@! Price Sale". This will be a price reduction on all standing inventory of homes minus spiffs and incentives.

D.R. Horton Las Vegas has 22 communities that feature Las Vegas new single story homes. Dual master floor plans are also available. Triplexes are located throughout the valley making D.R. Horton Las Vegas the leader in Las Vegas new townhomes.