Let me save you a lot of work and stress. If you foresee missing payments on your mortgage due to job loss, you are not eligible for a Making Homes Affordable Loan Modification. Only people who have a job are eligible to obtain a loan modification.

 However, you can obtain help through a non-profit organization called Prosperity Unlimited, Inc. They can help in numerous ways. One example is they can take a years worth of mortgage loan payments (time enough to find a job, hopefully) and add it to the back end of your mortgage loan. They will be able to explain things better than I. Their services are FREE!!!

Their contact info is:

Prosperity Unlimited, Inc. 

1660 Garnet St Kannapolis, NC 28083  

Phone: 704-933-7405 

Fax: 704-938-7431  

email: contact@prosperitycdc.org   

website: http://www.prosperitycdc.org

They can also help if you’ve already become behind on your mortgage; They have FREE DOWN PAYMENT $$$ for first time homebuyers; They can help anyone get a better deal on their loan.

Sorry, their services are for NC residents only. But look up similar counselling services in your state. Remember, if they charge a fee, IT IS A SCAM.

If you need a NC agency in your area, there is a state-wide list of authorized counselling agencies on this blogsite.

Dawn Judge, Broker/REALTOR®

704-929-2261

Email: dawn.judge@cbunited.com               

Site: http://cbunited.com/dawnjudge      

Hi Everybody,

Just want to give you a heads-up…

The new Truth In Lending Laws that were passed at the end of July 2009, have a pretty big impact on those of you still hoping to take advantage of the $8000 homebuyer tax credit. If you are planning to take advantage of the $8000 tax credit, it’s time to get busy! The new Truth In Lending Laws are stating that REALTORS® should allow at least 45 days to close on a home. (60 days for 100% loans) The $8000 homebuyer tax credit stimulus expires Nov 31, 2009. Therefore you should find the house that you want and contract it by Oct. 15, 2009. The sooner, the better!  (If you are getting a 100% loan, you should be contracted with a house by Sept 30, 2009.)

Read about Lending Laws

The new TIL laws state that if the good faith estimate from your lender changes, you must be notified immediately. Of course, this is only right! However, the method used to notify you is the potential problem. If you are notified via email, fax, phone, or U.S. Mail (pretty much any method other than in person) six days are to be added on to your estimated closing time. As you can imagine that can add up pretty quickly! Receive two faxes and you’ve added half a month on to your closing date! Why are they doing this? Because people were surprised when they sat at the closing table and discovered an aspect of their loan is different from what they were told when they applied. The lender would reply that a notification was sent. To which the consumer complained that they didn’t have time to read it. So now the government is allowing ample time to read notifications. So read the notifications.

The $8000 tax credit is not just for first-time buyers anymore. If you have not had an ownership in a home (nor your spouse) for the last three years, you qualify!

The $8000 tax credit does not have to be paid back! When the credit was first introduced, it did have to be paid back…but not anymore!

Check out several $8000 tax credit revisions on my blog (note the dates, so you can see what is the latest news)

Dawn Judge is a REALTOR® with Coldwell Banker United Realtors® in Mooresville, NC.  Contact me with your real estate questions 704-929-2261 email dawn.judge@cbunited.com

COLDWELL BANKER REAL ESTATE SURVEYS 1,000 MEN AND WOMEN TO DISCOVER GENDER DIFFERENCES IN THE HOME-BUYING PROCESS

 Survey Finds that While Couples Make Real Estate Buying Decisions Together, Women Make Up Their Minds Significantly Faster than Men PARSIPPANY, N.J. (August 17, 2009) – It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process. The real estate company engaged a third-party research firm, International Communications Research (ICR), to delve into the innerpsyche of men and women, asking questions such as “How long did it take for you to know that the last home you purchased was right for you?” and “If you found the home of your dreams but had concerns about its security, would you still be interested?” Coldwell Banker Real Estate also surveyed couples on additional topics, such as “Who wears the pants in the relationship?” when it comes to making major financial decisions. “The results were surprising,” said Diann Patton, the Coldwell Banker consumer real estate expert. “Not only did we uncover some of the inherent differences between men and women, but we also pinpointed a number of ways that the two genders are actually the same. For example, both men and women are increasingly concerned with having a space to work in their homes – something we would not have seen 40 years ago.” She continued, “We also found that feeling insecure about a home’s safety is a deal-breaker for most people, regardless of gender.” Patton noted this topic is particularly timely given that many first-time homebuyers are hoping to take advantage of the $8,000 tax credit before it expires on December 1, 2009. Below are some key highlights from the Coldwell Banker Real Estate study: Women may be inclined to make up their mind more quickly than men … When asked how long it took before they knew their home was “right” for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women). Women would rather live closer to their extended family than to their job … 55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men. A home’s security is a deal-breaker for both men and women … 64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent). Couples say that no one “wears the pants in the relationship” in terms of major financial decisions … When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it’s actually mutual. However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively). Men and women agree on how they would use a spare room, for the most part … When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses: Bedroom: 25 percent Office/Study: 15 percent Family Room / Den: 11 percent However, men really do want a “Man Cave”… Interestingly, out of the 8 percent who indicated they would turn that spare room into an entertainment center, it was a preponderance of men leading the charge. In fact, four times as many men as women said they would use the extra space for recreation / entertainment. In addition to providing background on the survey results, Patton is able to offer tips for couples who are currently going through the process of buying a home. “These results further validate how critical it is for couples to recognize each other’s differences and work together, from deciding a neighborhood to how to use a spare room,” she said. “Online tools and the expertise of a real estate professional can be particularly helpful for couples, especially if they work together step-by-step along the way.” Methodology: Coldwell Banker Real Estate engaged ICR to conduct an omnibus survey via telephone in May 2009, among more than 1,000 respondents.

About Coldwell Banker Real Estate LLC Since 1906, the Coldwell Banker® organization has been a premier full-service real estate provider. In 2008, Franchise Times magazine’s prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the ninth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,200 residential real estate offices and approximately 100,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International® division. It is a pioneer in consumer services with its Coldwell Banker Concierge® Service Program and award-winning Web site, http://coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.

Dawn Judge is a REALTOR® with Coldwell Banker United Realtors® in Mooresville, NC. Our office specializes in servicing all of Lake Norman and surrounding areas. See all listings in our area. Contact me with your real estate questions 704-929-2261 or email dawn.judge@cbunited.com .

Last night I went to a party at a gorgeous waterfront home in Mooresville, NC (A.K.A. Race City, USA). We had a lot of fun…laughing at those brave enough to try the karaoke machine! And watching the kids  swim in the pool that changes colors!

This home is for sale. Wow, if only I could afford to buy it! I can share with you my first impressions…

We drove through a very nice community of custom homes, along a winding road with mature trees and foliage. No two homes were alike. We pull up to the house. Mature trees are speckled along the front yard near the roadway, offering a feeling of privacy. The home is set back from the road, nestled along the waterfront of Lake Norman, in Mooresville, NC. The front yard is extensive with a very long concrete driveway. 

The home is a grand, light brick home. As we strolled up the drive, the interior lighting winked a golden glow of anticipation and promise. I wanted to go straight to the front door and see all of the interior immediately…but the party was out back and I guess we should be polite and say hello to everyone! We walked around to the backyard gate…

The lower level was set up for our party…food and drinks, etc. A nice kitchenette lended itself perfectly to our purposes! I suppose this is considered a basement…but it is the lightest, brightest walkout basement that I’ve ever seen! The west wall (closest to the lake) is mostly glass and glass doors. A full tournament-sized billiard table is at one end and a huge living area is at the other end. Well, I just cannot wait anymore! I must take a tour of the main level. I notice the restroom at this level was occupied! Now was my chance! Feigning the need, I asked for directions to the next bathroom. (I’m sure the homeowner would have given me a personal tour, happily…but it is so much more fun this way!) I started up the light, golden oak staircase, which is accented with decorative iron spindles and a wooden handrail.

On the main level, the stairway spills into an open hall with cathedral ceilings. Beautiful golden rays spill from the canned lighting onto the oak floors flowing throughout the main level! To the left of the staircase are two bedrooms, each with it’s own entry into a large, elegant full bathroom. These rooms are lavishly decorated for house guests. (I later learned that the lady of the house used to be an interior decorator! No wonder!)

The living area, kitchen and casual dining area have enormous walls of windows to look out at the beautiful view of Lake Norman. In fact, one thing that impressed me was that the wall of the dining area was made entirely of glass! Beautiful dark cabinetry, granite countertops and stainless steel appliances lend the kitchen a romantic quality. The tiled backsplash is accented with small decorative metal inlays. Three beautiful drop chandeliers are suspended over the center of the granite bartop. 

The living area has a magnificent trey ceiling! There is a decorating niche that goes the entire length of the room above the built in bookcases and entertainment center. And most importantly, the wall of windows overlooking Lake Norman! Do you see a theme emerging?!

The formal dining area is very stately, punctuated by the white columns and the especially tall trey ceilings (20 ft?).

Cross over the large foyer to the huge home office. The office entry is very large, wall-sized, glass doors. And, of course, the giant windows overlooking the lake. (I ask you…Who could get work done in here? I’d be daydreaming all day!)

At that point, I just poked my head into the master bedroom suite…I didn’t want to be THAT nosey! I rejoined the party and was talking to some other girls about the gorgeous house and they both said, “Did you see the master bathroom? No?! Oh, you have to see it! Come on!” The three of us went back in and oh my gosh, they were right!

The master bedroom suite takes up the entire depth of the home. You could probably fit four king sized beds in the master bedroom! The west wall is mostly glass, again taking full advantage of the lake view! The gigantic bed resides under an enormous double trey ceiling. Where the wall meets the ceiling a slant begins and connects to the trey. On this slanted ceiling, the homeowner has installed a large flat screen tv, perfectly situated for comfortable viewing from bed.

O.K. girls, let’s go into the master bathroom! But we must not call it a master bathroom! It is a master paradise! The words “Grecian Paradise” come to mind! My husband would never be able to get me out of that bathroom!

The entry to the master “paradise” is situated in the center of the bedroom/bathroom wall. Directly across from you is a gorgeous, grandiose jetted bathtub, set in a marble encasement the entire depth of the room! Gorgeous white columns frame the grand bath. A huge, one-way picture window is centered over the bath, for privacy.

I’ll be honest, the rest of the ‘paradise’ bathroom is a bit of a blur because I was so awestruck by the grecian luxury of the bathtub! I can imagine soaking in there, bubbles overflowing onto the floor…candles flickering, their gentle aroma filling the air! Aaahhh! The stresses of the day just slip away!

There is a huge, glass-encased tumbled tile shower, two equally gorgeous sink vanities. A customized…and I mean customized!…walk-in closet runs the entire length of the “paradise” room, from the entry wall to the picture window wall, and vaulted ceiling to floor!

Wow! Absolutely gorgeous!  Take a peek!

Hi Y’all!

Well, as you know I have visited MakingHomesAffordable.gov. I learned that I might be eligible for a home loan modification. I printed and filled out the forms. I gathered all the info that it told me I would need to have handy when I talked to my lender. Finally, I worked up the courage to call my lender and learned that they want me to visit their site and print/fill out their forms.

There were a lot more forms and it was a lot more in-depth. These will take a while to fill out. It depressed me! I’m not done filling them out yet…I had to stop for a while.

So, my friends, I would suggest visiting your lender’s website first -or call them- to see if they have their own MakingHomesAffordable.gov paperwork. It will save you a little time and effort.

I will keep you updated!

NEVER, EVER PAY FOR A MODIFICATION. IF THEY ASK YOU TO PAY, THAT IS A SCAM.

Dawn Judge 704-929-2261 is a REALTOR® in the Lake Norman area of North Carolina. If you live within a 50 mile radius of Mooresville, NC & would like a free market analysis of your home contact me. This can help you make a decision on whether to stay in your home or sell. (Frankly, if you don’t NEED to sell, then now is not the time to sell). If you have ANY real estate questions, contact me. If I don’t know the answer, I will find out for you.

If you are like me and having difficulty paying your mortgage, visit

http://makinghomeaffordable.gov/

Click on eligiblity. There will be a couple of questions for you to answer to help determine if you are eligible. There will be an instructional page to tell you what information to gather before you contact your lender. Then you should print out the 4 page Home Affordable Modification Program Hardship Affidavit.

The affidavit has 6 yes/no questions on it. A place for your personal information, and a place for you to explain your 6 previous answers more thoroughly.

(If you do not have access to a printer, your lender should be able to assist you with this.)

Gather your required info from the checklist on the instruction sheet, completely fill out the affidavit, then call your lender and asked to be considered for a Home Affordable Modification. Your lender’s number will be on your monthly mortgage bill or coupon book

******************************************************************

Do not wait until you are almost out of savings/options! It could take the bank(s) several months to get to your application, because they are overloaded with applications.

******************************************************************

Hang in there, it’ll get better. Good Luck to us all!

Please don’t be shy about asking me any real estate questions. If I don’t know the answer, I will find out the answer for you.

Dawn Judge, Broker/REALTOR®

704-929-2261 or email me at dawn.judge@cbunited.com  or meet me on Facebook, Twitter, LinkedIn and WordPress.

More info on the homebuyer’s tax credit from the National Association of Realtors® President, Charles McMillan:

As a direct result of our Summit, we have made progress on two critical issues:  improving the short-sale process and HUD’s efforts to monetize the first-time homebuyer tax credit.  My latest podcast includes updates on both topics.  Please listen (audio only) and send to your fellow members.

http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_hudguidlines_20090602

Dawn Judge, Broker/REALTOR®

704-929-2261                                         

Hi Everyone!

Don’t forget, if you -nor your spouse- have had no ownership interest in a home for the past 3 years, then you qualify for the up to $8000 tax credit! Tell everyone you know because this really is helping our economy! The following is a news report from NAR:

Tax Credit Bridge Loans Get Okay
The government has given the green light to the financing of bridge loans of up to $8,000 to first-time homebuyers who qualify for tax credits under the Obama administration’s economic stimulus plan. The new mortgagee letter stipulates that government agencies, nonprofits and FHA-approved lenders can give advances on the tax credits.

It’s anticipated that the money (if granted) would finance some of the closing costs for first-time homebuyers. The bridge loan will actually be recorded as a second lien. Also, consumers cannot receive cash back from the loan. The government notes, “The tax credit advance second mortgage must not provide for a balloon payment before 10 years.”

The federal tax credit is for $8,000 or 10% of the purchase price of the home – whichever is smaller. It expires later this year.

The mortgagee letter notes, “A phase-out of the credit begins when the taxpayer’s modified adjusted income exceeds $75,000 or $150,000 if married filing jointly, and is eliminated at $95,000 or $170,000 if married filing jointly.”

Dawn Judge, Broker/REALTOR®

704-929-2261 or email dawn.judge@cbunited.com

click for more info on the tax credit

I want to take a second to tell everyone who’s thinking about buying a home, to act on it! The foreclosures are disappearing quickly from our market in Mooresville, NC. In fact, they are quickly disappearing from our whole area!

For the past 2 weeks, everytime I start the process of presenting an offer, the home is already under contract! Very frustrating! But that is a good sign, too. Once the foreclosures are gone, home values will start to rise.

Except for luxury homes, Mooresville home values only dropped slightly. Our market only slowed down and never really stopped, like other areas of the country.  Low ball offers don’t really work here. People watch a lot of news. They think you can get phenomenal deals because thats what’s happening in Michigan, Nevada and Florida, etc…(according to the news). Don’t forget, news concentrates on the negative.

In the past two weeks, my business has been crazy busy! I am thankful!

So, if you’re thinking of buying a home, talk to your favorite lender. Get a pre-approval letter. If you wait until you find a home to do this, chances are the home will be gone when you finally have your letter. You must have this letter if you want to make an offer on a foreclosure – unless you’re paying cash.

Want to see what’s available in our area?  http://cbunited.com/dawnjudge   After visiting, If you want to run a particular search and save it, click on the “personal retriever” button and follow the directions. You will not be contacted by anyone – unless you ask us to contact you! I promise!

If you need lender contacts, I know many! I love to help first time buyers! If you have any questions, don’t be shy! Contact me.

Dawn Judge, Broker/REALTOR®

704-929-2261

email dawn.judge@cbunited.com

Coldwell Banker United Realtors®

Meet me on WordPress, Facebook, Twitter and LinkIn!

http://www.realtor.org/RMODaily.nsf/pages/News2009051202?OpenDocument   Hopefully by clicking this link you will access the changes that are trying to be made to the $8000 tax credit.

Read more updates already in effect on http://dawnjudge.wordpress.com   …take note of the dates…

Dawn Judge, Broker/REALTOR® with Coldwell Banker United Realtors®

704-929-2261

dawn.judge@cbunited.com (email)

http://cbunited.com/dawnjudge (website)