That’s right rumor on the street is there may be another tax credit for Home Buyer’s- Could consist of money for First Time Home Buyer’s, Move Up Home Buyer’s and the new twist could be incentive to purchase REO (Bank Owned) and Short Sale properties. If this happens we will be combining low, low, low I mean lowest interest rates on record with homes being sold crazy low prices. Idaho has long been ranked high for best places to live and work and I expect that the Boise Valley will rank high again when this economy turns around. Let’s see what happens but maybe the 3rd time is the charm! Josh Groesbeck 208-353-7131 or josh@homeswithjosh.com and www.homeswithjosh.com
Owning Your Idaho Home
August 30, 2010 By Leave a Comment
Everyday we here more bad news about the housing fallout and while that cannot be ignored there are some major benefits of home ownership. A lot of the times home ownership are more than the financial dividends. The best things about owning a home have a lot more to do with personal comfort and satisfaction. I was golfing with a retired professor from Notre Dame. He followed his wife and kids over to Idaho and told me if it weren’t for his job at the University of Notre Dame he would have been here years ago. He had been coming to Boise, Idaho since the late 1960′s telling me that he always knew that he would end up owning a home here. In closing “I love Idaho” and good game 
Here are five of them:
· Be your own landlord. The bank can only kick you out if you don’t pay; a landlord can be much less dependable – deciding to sell the property or choosing to live there themselves.
· Paying the principal is forced savings. Yes, it’s possible that home prices will fall further. It is also possible that your 401k will go down, but in the end both should provide you with an upside.
· Fixed-rate mortgages never rise – and eventually you pay them off. With mortgage rates at record lows, people who buy now are locking in real bargains.
· Good schools. Family-sized rentals are harder to come by in areas with excellent public schools.
· Spacious properties in pleasant neighborhoods. Sizable homes in attractive communities are almost always owned – not rented.
Source New York Times: Ron Lieber
Short Sales For Real People Not Just Big Business
August 26, 2010 By Leave a Comment
I have been saying this for awhile now, “If new bank is built for 200 million and it is now worth 100 million it becomes a bad asset and they will walk away and call it a good business decision, and yes they actually have the money to pay for it.” This has been going on for years and now that home owners are getting beat up by there upside down mortgage or loss of employment and income they still struggle to hang on. Sometimes starting over just makes sense emotionally and financially, if big business can strategically do this than why can’t you? Free consultation if keeping your home is no longer an option- Josh Groesbeck 208-353-7131 or josh@homeswithjosh.com
www.homeswithjosh.com and www.idshortsale.com
More and more commercial real-estate companies are doing what many indebted homeowners would like to do: Walk away from mortgages on properties that are now worth a lot less than they paid for them.
Today’s Wall Street Journal highlights three major developers - Macerich,Vornado Realty Trust and Simon Property Group - that have recently decided to default on mortgages.
When companies do this, no one bats an eye–it’s just “smart business.”
When ordinary homeowners think about doing it, meanwhile, the mortgage industry and government begin moaning that a mortgage is more than a business contract. It’s a social contract, in which homeowners have a “moral obligation” to pay.
That’s bunk. An individual mortgage is no different than a corporate mortgage. If corporations are allowed to walk away from mortgage obligations without feeling shame and guilt, then individuals should be able to do so, too.
The contract homeowners sign when they take out a mortgage spells out exactly what happens if the homeowner stops making payments on the loan. The lender has the right to foreclose on the house, taking the homeowner’s downpayment with it. In addition, the borrower’s credit rating will usually get destroyed, and, in some states, the lender can come after his or her other assets to recoup the capital the lender has lost.
Those are big penalties. They provide a major incentive for the borrower to continue making his or payments. And that’s why the lender, a corporation, put them in the contract.
Importantly, the lender voluntarily entered into the contract–and it did so because it thought doing so was a smart business decision. That it actually turned out to be a lousy business decision is not the homeowner’s fault. It’s the lender’s fault. And the borrower, who is already feeling plenty of pain his or herself, should not have to bear the burden of guilt and shame on top of everything else.
Idaho Help For Home Owners
August 9, 2010 By Leave a Comment
If you are currently working with an Idaho loan modification plan we hope that everything works out. If your loan modification is not working or perhaps you are upside down in your Idaho home (mortgage) please seek professional help. Josh is a trained Sh0rt Sale negotiator located right here in the Treasure Valley. Please review the HAFA rules and incentives from Making Home Affordable website. For answers and help with your home call Josh 208-353-7131 or josh@homeswithjosh.com
If you are looking for help selling your home and avoiding foreclosure, the federal government has introduced the
Home Affordable Foreclosure Alternatives (HAFA) Program to help you. As your mortgage servicer, we are
offering you the opportunity to participate in this program by utilizing HAFA’s short sale option.
Home Affordable Foreclosure Alternatives Program – Short Sale
A “short sale” is specifically designed to help borrowers who are unable to afford their first mortgage and want to
sell their home to avoid foreclosure, even if the sale price may not pay off the amount owed on their mortgage. A
short sale requires a number of parties (you, the buyer, your real estate broker, and sometimes mortgage
insurance companies and other lenders) to work together to make this option successful. However, it could be a
good solution for your current situation.
How Does a Short Sale Work?
Pre‐Sale—We will start by approving a list price for your home or give you the acceptable sale proceeds (the
minimum amount that we must receive after sales costs) from the sale of your home. We will also identify the
sales costs (broker commissions and closing costs) that may be deducted from the final sales price. You then
list your property (like any home sale) with a local real estate broker at the approved price.
Offer—When you get an offer on your home, you will submit the required documentation and we will approve
the sale if it is in line with what we agreed to.
Closing—Once the sale closes, we will release you from all responsibilities for repaying your mortgage. Plus,
you will receive $3,000 to help pay some of your moving expenses. (The check will be paid to you by the
settlement agent as part of the closing.) In the event there is any money left over from the sale after paying
the entire amount you owe on the mortgage plus the approved sale costs, you will not be eligible to receive
the $3,000.
To Participate in the Short Sale Program
Please note, there is no guarantee that your home will sell under this program, and you are responsible for
determining whether you want to sell your home for the price and terms described in this letter. The following
pages detail your responsibilities, additional information on the short sale process and the Terms and Conditions.
Additionally, this letter constitutes an agreement between us and you (“Agreement”) so please read it carefully
and completely.
Source:Making Home Affordable
Bank of America HPO Short Sale Rules
August 6, 2010 By Leave a Comment
This is an outline for Bank Of America new HPO (high performance) short sale program. If you are have a B of A loan and have been turned down for or loan modification has not worked please don’t waste anytime and call Josh 208-353-7131 or josh@homeswithjosh.com for your free confidential housing consultation. Look at the new rules below as they are pretty clear. 100% Trained in Short Sales and getting them closed. First Response Team
* Every short sale seller and agent will be assigned a personal advocate who will shepherd the short sale through, using the new, simple process. Think of this as your own ‘short sale personal representative’.
* No pre-qualifying, no hardship required. Being upside down in the house IS the hardship.
* No documentation.
* No bank statements.
* No tax returns.
* No financial worksheets.
* No deficiency judgement.
* No financial contribution from the seller of any kind will be requested.
* Only requirements? -A listing contract -A purchase contract -An appraisal, though we’ve been told the appraisal will not have an adverse bearing on the final acceptance.
* 2 WEEK approvals.
Price Change In Nampa, Idaho
August 6, 2010 By Leave a Comment
NICE!! Custom home near Idaho Center and Freeway access.Granite counter tops,raised panel cabinetry,high quality carpet,light fixtures w/Trim package. Master bath includes raised dual vanities,jetted soaker tub w/ seperate shower.Upstairs is extremely well laid out bonus area feels like seperate living quarters..3 car garage has a bathroom! RV pad is poured with all hookup.Stamp concrete,well appointed landscape surrounds this eye catching corner lot home. This home has it all asking $174,836 For your private showing contact Josh 208-353-7131 or josh@homeswithjosh.com
NACA Loan Modification Help
July 27, 2010 By Leave a Comment
If you are having trouble getting your loan modified here in Idaho please watch this video it may be of some assistance. Josh Groesbeck is a loan modification and short sale specialist here in Idaho. If you need help and your loan modification is not working please call for other options.
Josh Groesbeck
208-353-7131 or josh@homeswithjosh.com
