The deadline for filing is March 1,
2012.
Each county has
its own requirement, so please contact your local property appraiser office for details.
Here are the
links for Broward, Palm Beach and Miami-Dade County:
Feb 14, 2012
Jan 23, 2012
Get $2000 from the City of Sunrise
The City of Sunrise is now reimbursing homebuyers up to $2,000 for select
improvements to a newly-purchased single-family foreclosure or short sale
home. Under this New
"Homebuyer Incentive Program", the City seeks to attract new residents to Sunrise
- and benefit existing residents by helping to improve the appearance and
property values in their neighborhoods.
The New Homebuyer Incentive Program is administered by the
Redevelopment & Grants Division of the City of Sunrise Community Development
Department. In order to claim a rebate,
homebuyers should:
•Get pre-qualified for a conventional, fixed-rate mortgage or FHA
mortgage
•Work with their Realtor® to find a single-family foreclosure or
short sale in Sunrise
•Get pre-qualified for the City’s New "Homebuyer Incentive Program"
grant
•Purchase the foreclosure or short sale for use as their primary
residence
•Make one or more eligible improvements (including landscaping
improvements, exterior house painting, roof replacement, or installation of
energy-efficient appliances)
•Submit their supporting documentation to the City of
Sunrise
Website Details Here: http://www.sunrisefl.gov/index.aspx?page=558
Jan 2, 2012
FHA flip waiver extended through 2012
Happy New Year everyone!
We start off the year with some good news, for the second year in a row, the Federal Housing Administration is extending a temporary waiver of its "anti-flipping" rule, meaning home buyers can use FHA-insured financing to buy homes that have changed hands in the last 90 days such as those sold by investors.
This waiver is important for our recovery as it allows investors seeking to rehab and flip the huge influx of distressed homes expands the pool of eligible borrowers to include those relying on FHA-backed loans popular with first-time home buyers
In extending the waiver through 2012, FHA still requires the transaction to be arms-length. In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will apply only if the seller can document the justification for the increase in value which is also typical.
We start off the year with some good news, for the second year in a row, the Federal Housing Administration is extending a temporary waiver of its "anti-flipping" rule, meaning home buyers can use FHA-insured financing to buy homes that have changed hands in the last 90 days such as those sold by investors.
This waiver is important for our recovery as it allows investors seeking to rehab and flip the huge influx of distressed homes expands the pool of eligible borrowers to include those relying on FHA-backed loans popular with first-time home buyers
In extending the waiver through 2012, FHA still requires the transaction to be arms-length. In cases in which the sales price of the property is 20 percent or more above the seller’s acquisition cost, the waiver will apply only if the seller can document the justification for the increase in value which is also typical.
Dec 15, 2011
Broward and Dade home price declines a thing of the past?
Finally some good news courtesy of Clear Capital, a California-based real estate research company.
Broward and Miami-Dade counties rank among the nation’s highest-performing major markets when it comes to home prices over the past quarter and year. The two counties saw a 2.1 percent increase in prices quarter over quarter and a 5.4 percent jump year over year.
Broward and Miami-Dade ranked 11th on a list of the top 15 markets!
Broward and Miami-Dade counties rank among the nation’s highest-performing major markets when it comes to home prices over the past quarter and year. The two counties saw a 2.1 percent increase in prices quarter over quarter and a 5.4 percent jump year over year.
Broward and Miami-Dade ranked 11th on a list of the top 15 markets!
Dec 1, 2011
The Florida Short Sale Relocation Assistance Program has been extended!
The Florida Enhanced Short Sale Relocation Assistance Program has been extended to Dec. 12, 2011.
This program offers Homeowners needing to sell via short sale relocation assistance between $5,000 and $20,000.
Eligibility:
-Homeowners with property in Florida
-Short sales initiated without an offer between Sept. 26 and Dec. 12, 2011
-The customer will have to be eligible for one of the without an offer programs, such as the Home Affordable Foreclosure Alternatives (HAFA) program or Bank of America's proprietary program (specific investor participation and eligibility criteria do apply to these programs)
Successful closing of the eligible short sale by Aug. 31, 2012
Exclusions:
-Ginnie Mae, FHA, VA and USDA loans are ineligible for participation
-Lot loans are ineligible for participation
-Properties outside Florida are not eligible for participation
-Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance
Frequently Asked Questions:
Do I have to do anything different to initiate or complete the short sale?
No. If the homeowner's short sale is initiated between Sept. 26 and Dec. 12, 2011, and the property closes by Aug. 31, 2012, the homeowner will be eligible.
Will the relocation assistance funds be reported on the HUD-1?
Yes, they will be documented on the HUD-1, and a 1099-MISC will be issued.
Can the relocation assistance funds be used to pay off existing liens?
Yes, if the investor approves it.
Will this enhanced relocation assistance waive the homeowner's deficiency?
An additional benefit for these pre-offer programs, such as HAFA and Bank of America's proprietary program, is that deficiency may be waived for homeowners who qualify.
Is the relocation assistance added to any other incentives, such as HAFA or Bank of America proprietary program incentives?
No. A homeowner will receive the $5,000 to $20,000 in place of the typical incentive paid out by these programs. The relocation assistance is essentially an enhancement to the standard payout offered on these programs.
Is the enhanced relocation assistance available for other programs?
The enhanced relocation assistance is currently available only to short sale programs initiated without an offer. However, as we gauge the success, we may extend this incentive to other programs.
Questions?
Contact my office at 954-441-5366 or call BoA directly at 1.877.459.2852
This program offers Homeowners needing to sell via short sale relocation assistance between $5,000 and $20,000.
Eligibility:
-Homeowners with property in Florida
-Short sales initiated without an offer between Sept. 26 and Dec. 12, 2011
-The customer will have to be eligible for one of the without an offer programs, such as the Home Affordable Foreclosure Alternatives (HAFA) program or Bank of America's proprietary program (specific investor participation and eligibility criteria do apply to these programs)
Successful closing of the eligible short sale by Aug. 31, 2012
Exclusions:
-Ginnie Mae, FHA, VA and USDA loans are ineligible for participation
-Lot loans are ineligible for participation
-Properties outside Florida are not eligible for participation
-Short sales initiated with an offer are not currently eligible for the enhanced relocation assistance
Frequently Asked Questions:
Do I have to do anything different to initiate or complete the short sale?
No. If the homeowner's short sale is initiated between Sept. 26 and Dec. 12, 2011, and the property closes by Aug. 31, 2012, the homeowner will be eligible.
Will the relocation assistance funds be reported on the HUD-1?
Yes, they will be documented on the HUD-1, and a 1099-MISC will be issued.
Can the relocation assistance funds be used to pay off existing liens?
Yes, if the investor approves it.
Will this enhanced relocation assistance waive the homeowner's deficiency?
An additional benefit for these pre-offer programs, such as HAFA and Bank of America's proprietary program, is that deficiency may be waived for homeowners who qualify.
Is the relocation assistance added to any other incentives, such as HAFA or Bank of America proprietary program incentives?
No. A homeowner will receive the $5,000 to $20,000 in place of the typical incentive paid out by these programs. The relocation assistance is essentially an enhancement to the standard payout offered on these programs.
Is the enhanced relocation assistance available for other programs?
The enhanced relocation assistance is currently available only to short sale programs initiated without an offer. However, as we gauge the success, we may extend this incentive to other programs.
Questions?
Contact my office at 954-441-5366 or call BoA directly at 1.877.459.2852
Subscribe to:
Posts (Atom)