Legal Loophole Costs Local Homeseller $3,742 in the Sale of Their Home

by qinfokusuma 8. June 2012 16:36

 

San Gabriel Valley - When you're buying or selling a home, there are many small but important legal issues that you may be unaware of that are, nevertheless, critical to understand. Residential real estate is not an uncomplicated process. When such a major investment is transferred from one party to another, there are subtle details to take care of that can turn into major problems if not handled correctly.

It is essential to understand the legal ins and outs that will properly protect you when you buy or sell a home. There are several issues that will certainly cost you if you are not properly informed. In a recent situation right here in the area, misinformation cost one local homeseller over three thousand dollars in the sale of their home. Don't let this happen to you.

In answer to this issue, Industry Insiders have prepared a FREE special report entitled, "Legal Mistakes to Avoid When Buying or Selling a Home"

To order a FREE Special Report, visit www.RealEstateLegalLoophole.com or to hear a brief recorded message about how to order your FREE copy of this report call toll-free 1-888-300-4632 and enter 1011. You can call any time 24 hours a day, 7 days a week.

Get your free special report NOW to protect your investment when you buy or sell your home.

 

 

Lenders Providing Large Cash Incentives to Homeowners for Short Sales

by qinfokusuma 7. June 2012 15:28

Cash up to $35,000 to Home Owners

In recent news, major publications including USA TODAY and CNNMoney have spotlighted the incentives provided by banks. These incentive programs, which offer anywhere from around $2,000 to upwards of $35,000, are intended to provide homeowners with the resources and motivation to pursue a short sale.

As banks look to ramp up short sales, such incentives are becoming more frequent. JPMorgan Chase began their incentive program last year, for example, and Bank of America (which plans a 60-70% increase in short sales this year) piloted a program in Florida this past December. Wells Fargo offers incentives as well, though primarily in states where the foreclosure process is particularly lengthy.

For banks, short sales can be a cheaper alternative to foreclosure. The foreclosure process is lengthy and costly, so much so that providing up to a $20,000 alternative for a short sale is still a cheaper option.

In USA TODAY’s article “Lenders paying borrowers to do short sales,” Jim Gillespie, chief executive of Coldwell Banker, is quoted as saying “It’s a lot cheaper to shell out $10,000 or $20,000 to someone than it is to go through a long foreclosure.”

In addition to the cost of the foreclosure process itself, foreclosed properties sell for less than short sales on average. According to the National Association of REALTORS®, foreclosed properties sold for 22% less than conventional sales, while short sales sold for around 14% less.

For more information on Short Sale and other foreclosure prevention options, visit www.ShortSalesPlatinum.com

or Call 626-780-2221 (direct telephone to Rudy L. Kusuma, Foreclosure Prevention Expert, CA DRE# 01820322)

 

Take Control of Your Future: Use Your SD IRA to Invest in Real Estate

by qinfokusuma 7. June 2012 13:30

Did you know you could use your nest egg to purchase an investment property and increase its value through cash flow? You can roll your traditional IRA or 401k into a self-directed IRA (SD IRA) and—as the name implies—have direct control over where your funds are invested, namely a cash flow-producing rental property.

Traditional IRAs, in most cases, are distributed among stocks, bonds, and mutual funds at the discretion of the bank or financial institution by which they’re managed. The financial institution acts as the trustee or custodian of the IRA; it distributes, receives, and holds the account funds for the investor. In most cases, the investor is out of touch with his or her investment activity and just hopes for the best.

While approximately 97% of all retirement account assets are invested with banks, brokerage firms, mutual fund companies, and insurance companies, many people don’t know there are other retirement investment options available and that many of these options have greater return capabilities.1 Real estate, limited liability companies, private companies, and joint ventures are just a handful of possibilities. These investments require that you first roll your IRA into a self-directed IRA to allow you to direct its activity. Because self-directed IRAs are less profitable for financial institutions than traditional IRAs, and because fewer institutions are proficient at handling them, they’re more reluctant to communicate this option to investors.2

There’s no penalty for rolling your retirement funds into an SD IRA, but like a traditional IRA, it requires an account custodian. The difference is your ability to tell your custodian where to invest your funds. For example, you can have your custodian purchase real estate with your SD IRA, then hold the property as a rental investment and have the cash flow go back into your SD IRA. As a bonus, the fees associated with SD IRA custodians can be lower than traditional IRA fees.3

It’s much simpler than most people think. The first step is to find an SD IRA custodian. Not all banks and brokerages handle this type of account, and you’ll want to find one that specializes in SD IRAs. And be aware, rolling your IRA into an SD IRA typically takes six to eight weeks.

Once you have your SD IRA all set up, you can make an offer on a selected investment property in the name of your SD IRA. After negotiating a deal, your custodian executes the contract. There’s extra paperwork involved when going this route, but your custodian can help guide you through the process.

If you’re interested in boosting your retirement and diversifying your investments, using an SD IRA to invest in real estate is a great strategy. You’ll want to consult with your accountant and find a custodian who is experienced with SD IRAs. This method is certainly more proactive and lucrative than leaving your retirement funds in the hands of someone else and simply hoping for the best.

For immediate assistance, please contact your
TEAM NUVISION Real Estate Investment Broker Kyle Ngo
Tel: 626-215-2368 or email: Kyle@TeamNuVision.net


1Allen, Matthew M. Leverage Your IRA: Maximize Your Profits with Real Estate, Scottsdale: LIFESUCCESS PUBLISHING, 2010.

2Ibid.

3http://www.biggerpockets.com/articles/3088-4-reasons-to-invest-with-your-sdira-in-real-estate

 

7 Things You Must Know Before Putting Your Home Up for Sale

by qinfokusuma 7. June 2012 12:17

San Gabriel - A new report has just been released which reveals 7 costly mistakes that most homeowners make when selling their home, and a 9 Step System that can help you sell your home fast and for the most amount of money.

This industry report shows clearly how the traditional ways of selling homes have become increasingly less and less effective in today's market. The fact of the matter is that fully three quarters of homesellers don't get what they want for their homes and become disillusioned and - worse - financially disadvantaged when they put their homes on the market.

As this report uncovers, most homesellers make 7 deadly mistakes that cost them literally thousands of dollars. The good news is that each and every one of these mistakes is entirely preventable. In answer to this issue, industry insiders have prepared a free special report entitled "The 9 Step System to Get Your Home Sold Fast and For Top Dollar".

To order a FREE Special Report, visit http://www.CostlySellersMistakes.com or to hear a brief recorded message about how to order your FREE copy of this report call toll-free 1-888-300-4632 and enter 1000. You can call any time, 24 hours a day, 7 days a week.

Get your free special report NOW to find out how you can get the most money for your home.

 

How to Avoid Costly Housing Mistakes Before and After a Divorce

by qinfokusuma 7. June 2012 09:40

How to Avoid Costly Housing Mistakes Before and After a Divorce

Divorce is rarely easy and often means a lot of difficult decisions. One of the most important decisions is what to do about the house.

 

In the midst of the heavy emotional and financial turmoil, what you need most is some non-emotional, straightforward, specific information and answers. Once you know how a divorce affects your home, your mortgage and taxes, critical decisions are easier. Neutral, third party information can help you make logical, rather than emotional, decisions.

 

Probably the first decision is whether you want to continue living in the house. Will the familiar surroundings bring you comfort and emotional security, or unpleasant memories? Do you want to minimize change by staying where you are, or sell your home and move to a new place that offers a new start? Only you can answer those questions, but there will almost certainly be some financial repercussions to your decision process. What can you afford? Can you manage the old house on your new budget? Is refinancing possible? Or is it better to sell and buy? How much house can buy on your new budget?

 

To help you know what questions you should ask and how to arrive at the right answer for your specific situation, a FREE special report has been prepared by industry experts entitled "Divorce: What You Need to Know About Your House, Your Mortgage and Taxes".

 

To order a FREE Special Report, visit  www.DivorceHousingReport.com  or to hear a brief recorded message about how to order your FREE copy of this report call toll-free 1-888-300-4632  and enter 1009

 

You can call any time, 24 hours a day, 7 days a week.

 

Get your free special report NOW to find out how to make this part of your current situation less stressful.

 

 

Time is Running Out: How the Mortgage Debt Relief Act can save you!

by qinfokusuma 6. June 2012 14:30

Time is Running Out: How the Mortgage Debt Relief Act can save you!

 

In 2007, the Mortgage Debt Relief Act was passed in an attempt to help the millions of homeowners who, due to the housing crisis and economic crash, suddenly found themselves in danger of losing their home to foreclosure.

 

The act has helped many distressed homeowners find solutions to avoid foreclosure and opened up options to them that were previously unavailable.

 

However, the Mortgage Debt Relief Act was always intended to be a temporary solution and it is now set to expire at the end of 2012. For distressed homeowners, this means that time is limited for you to take advantage of this program.

 

Time is running out. But there is still a chance to change your financial direction and avoid foreclosure.

 

-Rudy L. Kusuma, CDPE
Team NuVision Foreclosure Prevention Unit
Real Estate Broker Lic# 01820322
Free foreclosure prevention resources for home owners: www.ShortSalePlatinum.com
Take Action! Call me direct 626-780-2221

 

Escape Your Unmanageable Mortgage: Getting free doesn’t have to mean running away.

by qinfokusuma 5. June 2012 09:58

Escape Your Unmanageable Mortgage: Getting free doesn’t have to mean running away.

Perhaps you have heard about it.

 

On the news, a reporter tells a story about how the housing crisis has caused some homeowners to simply walk away from their homes. It sounds crazy, but many people are being led to believe that walking away from their home is a good (or even the best!) option.

 

It is called Strategic Default. For distressed homeowners who believe that they have no good choices left, the idea of walking away free of consequence may sound like a relief. The reality, however, is that choosing strategic default has serious repercussions on your credit.

 

THERE ARE BETTER OPTIONS AVAILABLE!

 

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially-challenged homeowners with options to escape from unmanageable mortgages without running away.  

 

Facing your problems head-on is always the best solution. Let me help.

 

-RUDY L. KUSUMA, CDPE
Team NuVision Foreclosure Prevention Unit
Real Estate Broker Lic# 01820322
Free foreclosure prevention resources for home owners: www.ShortSalePlatinum.com
Take Action! Call me direct 626-780-2221

 

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