Virginia Home Buyers Get an $8000 Break
Written by admin on June 24th, 2009. Filed under foreclosure, home buyer, mortgage, reo, reo agent, reo broker, reo hampton roads, reo newport news, taxes, virginia, williamsburg and tagged with down payment, first time home buyer, foreclosure, reo, tax, virginia, williamsburg.If you are a new home buyer or have not owned a home in the past 3 years, we have good news.
The Federal Government is offering an $8000 tax rebate to first time home buyers. The 8K is received after closing and filing a form with the IRS.
Here’s where it gets good! The Virginia Housing Development Authority has ‘monetized’ the tax rebate and is giving the $8000 up front so that it can be used as a downpayment. It will be carried as a second mortgage until you get the money back from the IRS and you can then repay it or continue to carry it as a second mortgage.
Time limits on closing and other details are involved so you’ll want to speak with a mortgage person and your tax advisor.
Any questions on this program, give me a call.
Troy Deierling, Realtor
EXIT Realty Deierling & Assoc.
Williamsburg VA 23185
(757) 715-4793
troy@williamsburgemail.com
www.realestatewilliamsburg.com
Second Mortgage Disaster on Horizon?
Written by admin on April 17th, 2009. Filed under Uncategorized, bpo, bpo agent, foreclosed, foreclosure, mortgage, mortgage crisis, reo agent, reo broker, reo hampton, reo hampton roads and tagged with Asset Manager, bpo, foreclosure, hampton, mortgage crisis, newport news, poquoson, property, reo, va, virginia, williamsburg, yorktown.==========================================================================
CBS 60 minutes show ran a rather frightening segment on another looming mortgage disaster on the horizon. This new wave of foreclosures supposedly will be coming from mortgage companies and banks abusing a Alt-A mortgage program and a program called an ‘option arm’. I don’t recall hearing about either of these programs so perhaps they weren’t available or popular in our area. I’m skeptical of this report but thought it was worth taking a look at.
Here’s the video.
Troy Deierling, Realtor
REO – BPO Division
EXIT Realty Deierling & Assoc.
Williamsburg, VA
|email| troy@ExitRealtyDA.com
|mobile| (757) 715-4793
|web| www.REOHamptonVA.com
|web| www.RealEstateWilliamsburg.com
|web| www.WilliamsburgBroker.com
“When did entering a REO listing in the MLS become ‘marketing’?”
Licensed in the Commonwealth of Virginia
©2009 Troy Deierling
