Some key points on Obama’s foreclosure-prevention plan:

• Loan terms may be modified by reducing payments for distressed borrowers
• Refinancing for those current on payments, but have little or no equity in their home
• Plan starts right away and is strictly for primary residences that are not vacant or condemned.

• Call your loan servicer for help to see if you qualify
  
• There are no fees for this type of loan modification
• To be eligible, your loan must be owned or guaranteed by a government-backed mortgage company such as Fannie Mae or Freddie Mac
• Modification plan ends on December 31st of 2012
• Loans can be modified one time only

More information is available at financialstability.gov

For additional information, please refer to our recent article in regards to reducing your mortgage payments and information on loan modification.

If you are a new buyer and looking to take advantage of the $8,000 tax credit, feel free to fill out our Mortgage Application Form so you can know where you stand in today’s market and what deals you may be able to take advantage of.  You can also review Ocala Florida Real Estate Statistic for January 2009.

Art & Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK! * – Contact for more details!

1. Record Inventory: There are 7,862 homes on the market in Ocala/Marion County today. 2,376 homes are brand new and have never been lived in. There is something on the market in every price range. Just 2 years ago, buyers had to make compromises to find their dream home. We also have many building lots in all sizes at fantastic prices.

2. No Bidding Wars: In 2005 multiple offers on one property drove buyers insane. They had to make their first offer the best offer, or they would loose the house they wanted. Many buyers gave more than the asking price. In today’s Buyer’s Market I have not seen any competitive bidding.

3. Time to shop: In the Seller’s market of two years ago, time was of the essence. You had to hurry to make an offer, or you would be in competition with other buyers. Today you can take your time – look at several homes and weigh all your options.

4. Make an offer: Sellers invite you to make offers. Most of them will not be insulted if you make them a reasonable offer they can’t refuse.

5. Inspections: Buyers are encouraged to obtain home and termite inspections and appraisals. During the hot Seller’s market, many buyers waived these contingencies to gain advantage with multiple offers.

6. Builder concessions: Builders are extremely motivated to sell the many specs they have in their inventory. They are offering help with closing costs, inexpensive lease options and offering many of upgrades at a great discount.

7. Financing: Gone are the days of no doc, adjustable and sub-prime loans. Low fixed rates are back (the feds lowered the prime rate by a quarter point last night). FHA financing, special loans for first time home buyers, teachers and police officers are still available. Don’t wait, buy Real Estate now!

Brigitte Shultz
The Shultz Team
#1 Team at Re/Max Premier Realty
Ocala, FL
Toll Free: 800-243-4087
Direct: 352-291-1276
Info@OcalaVisualTours.com
www.OcalaVisualTours.com
* FREE OCALA MOVING TRUCK! * – Contact for more details!