Military Personnel Have Special Benefits

According to the National Association of Realtors, there are additional benefits for military personnel in the latest extension of the home buyer tax credit.

• Armed service, intelligence service, and foreign service personnel on active duty and out of the U.S. for 90 days during any part of 2009 get an additional year to buy their homes -- to May 1, 2011.
• Members of the military also do not have to repay the tax credit even if they have to sell their homes before the three year time limit if they move because of official duty.

Members of the military may use their VA benefits to buy a home with no down payment. With the changes in the mortgage industry, a zero down payment loan is virtually a thing of the past.

For more details, call the Grove Team at 817-337-0000 or go to http://www.groveteam.com/ to ask questions. There are many homes available in Keller, North Richland Hills, Grapevine, Southlake, and HEB that would fit almost the criteria of any buyer who qualifies to take advantage of the first time home buyer or current home seller tax credit.

100 Transactions - CLOSED!

Congratulations are in order to the Grove Team...officially closing and funding 100 units so far in 2009!

Do you have questions about buying or selling - we can help!

The Grove Team
Keller Williams Realty

Direct (817) 337-0000
info@groveteam.com

Web - www.groveteam.com

Federal Short Sale Guidance - Released

Short sale procedures for loan servicers are standardized in guidelines released earlier this week under the federal government's Making Home Affordable loan modification initiative for troubled home owners. The guidelines create a path for short-sale or deed-in-lieu of foreclosure for eligible borrows for whom loan modification isn't a viable option.

The guidelines provide $1,500 in federal funds to help borrows relocate, $1,000 to help servicers offset their processing costs, and up to $1,000 to investors secure release of subordinate liens. For each $3 an investor pays to secure the release of a lien, the investor receives $1 in assistance. The guidelines prohibit a reduction in agreed-upon commissions (if they're not more than 6%) and take effect April 5, 2010, but can be implemented by servicers at any time. Fannie Mae and Freddie Mac are expected to follow this release with their own rules based on these guidelines.

Do you have questions about selling or purchasing a short sale property? The Grove Team can help! With extensive experience both on the listing and purchases of short sale properties, our team can guide you step by step through the process.

Call us with any of your real estate needs...we are here for you! Specializing in Northeast Tarrant County.

The Grove Team
Keller Williams Realty

Direct (817) 337-0000
info@groveteam.com

www.groveteam.com

Blog source - dfwRealtors.com / MetroTex Association of Realtors