Archive for the ‘home sales’ Category
Newest Homes for Sale in Janesville WI
Friday, April 30th, 2010
Newer Ranch on 1.26 Acres! – Short Sale
Sunday, October 18th, 2009Beautiful ranch on tranquil setting only 6 miles from the beltline! Cornfields in the backyard and 1.26 acres of land. This 6 yr old home boasts a man-cave of a garage that you have to see to believe, vaulted large kitchen and a walk out basement. Bay window in Master Bath boasts a view of beautiful country landscape. —->Offers may be subject to bank short sale approval.
Side by side duplex – Stoughton
Monday, July 6th, 2009Stoughton, Wisconsin. Updated side by side duplex on quiet tree lined street next to parks. Only duplex on single family home street. Some of the numerous updates include newer roof, water heaters, carpet, birch cabinets, granite countertops & stainless appliances! Each side has 3 bedrooms and attached garages. Possibility of future zero lot line.
First time home buyer tax credit modifications
Monday, April 6th, 2009FIRST-TIME HOMEBUYER TAX CREDIT
As Modified in the American Recovery and Reinvestment Act
| FEATURE | CREDIT AS CREATED JULY 2008
APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008
|
REVISED CREDIT –
EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009
|
| Amount of Credit | Lesser of 10 percent of cost of home or $7500 | Maximum credit amount increased to $8000 |
| Eligible Property | Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence. | No change
All principal residences eligible.
|
| Refundable | Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser. | No change
Purchasers will continue to receive refund for unused amount when tax return is filed.
|
| Income Limit | Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000). | No change
Same income limits continue to apply.
|
| First-time Homebuyer Only | Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase. | No change
Still available for first-time purchasers only. Three-year rule continues to apply.
|
| Revenue Bond Financing | No credit allowed if home financed with state/local bond funding. | Purchasers who utilize revenue bond financing can use credit. |
| Repayment | Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing. | No repayment for purchases on or after January 1, 2009 and before December 1, 2009 |
| Recapture | If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale. | If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009. |
| Termination | July 1, 2009
(But note program changes for 2009)
|
December 1, 2009 |
| Effective Date | Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year. | All revisions are effective as of January 1, 2009 |
Preforeclosure Side by side duplex – Short Sale
Friday, March 20th, 2009Act Sooner Than Later
Friday, March 13th, 2009When the economic environment puts a strain on your ability to pay your mortgage it is important to act sooner than later. Even if you have not missed any payments it is not too soon to take action. There are many resources to help struggling homeowners avoid losing their home to foreclosure.
First, collect all your bills from everyone you owe money to. Total all your expenses per month and compare it to your total income each month. If you can foresee any difficulty now or in the near future making your payments it is time to take immediate action. Gathering this information will also help you be more prepared when speaking with the lender.
Contact your lender(s) and explain your situation to find out if they can work with you. The $275 billion Homeowners Affordability and Stability Plan that just passed should make it easier for banks to refinance or modify your mortgage. Low-cost refinancing will help with mortgages that are more than 80 percent of the current home value. Loan modification under the Homeowners Stability Initiative will assist owners with a total debt that is 55% of their total income. More information about the Stability Plan program is found at this website:
If you do not feel comfortable speaking with your lender you can contact a reputable mortgage counselor. Visit www.hud.gov or call 1-800-569-4287 for a list of HUD approved housing counselors. These agencies may also have credit counseling available. These services are usually free.
Selling your house may be the only option that works for your situation. If you have enough equity you may be able to sell your home and pay off the mortgage. If not then you may have to ask the bank to take less than what is owed in a short sale. At this stage please contact Rock Realty at 1-877-774-ROCK(7625).
Don’t wait to be behind many payments to take action. If you can anticipate difficulty with paying your mortgage now or in the near future there are steps you can take to help avoid foreclosure. Calculate your financial situation to find your ability to pay your mortgage. Contact the bank for any programs they may have for making your payments more affordable. You can speak with a housing counselor for assistance in helping straighten out your finances. If all your other options no longer work contact Rock Realty to help you plan a short sale. The longer you wait the fewer options you may have.
Sun Prairie Ranch Home – Short Sale
Friday, February 27th, 2009
Wisconsin Foreclosure Options – What should I do now?
Friday, February 27th, 2009
What are my options to foreclosure in Wisconsin?
1. Make the payments:
Your best option of course is to bring your mortgage current by paying back payments
(arrears) due and any interest or fees assessed.
• If you are only behind a payment or two, talk to your lender. They will help you set up
a payment plan to get caught up, save your home and save your credit.
2. Sell your home:
If you have suffered a life altering occurrence (job loss, injury, divorce, death of spouse,
etc) and cannot make payments, list your home with a local Realtor® and try to sell it.
• Rock Realty has licensed Realtors® on our staff that will take care of all of the details.
Call us at (877)774-ROCK for a FREE property evaluation.
• It is important that you make this call early in your foreclosure process.
3. Work with Rock Realty: OUR SERVICES ARE FREE!
Rock Realty will negotiate with your bank to convince them to accept a lower amount
then what is owed. This is called a Short Sale.
If you owe more than the house is worth, and/or have a second or third mortgage, you
want to prevent foreclosure and get a fresh start, a short sale may be your best option.
It does require you to vacate the home, but it will prevent further credit damage, stop
foreclosure and allow you to move forward with your life.
Call us today for a free consultation.
TAKE ACTION NOW!!
THE WORST THING YOU CAN DO IS NOTHING.
OUR SERVICES ARE FREE, CALL US TODAY FOR A
FREE NO OBLIGATION CONSULTATION
(877)774-ROCK (7625)