Myth 1:  You must be behind on your mortgage to qualify for a short sale.   Lenders look for three things:  a "verifiable hardship," such as a job loss, pay cut, job transfer, divorce or serious illness; a monthly cash-flow short-fall or pending shortfall and insolvency; or lack of liquid assets that would allow you to pay down your mortgage. 

Distressed homeowners often wait too long, and should consult with a qualified agent before ...

I am happy to announce that Liz and I are now with The Platinum Group, REALTORS – the Number One Independent Real Estate Company in Colorado Springs!  After 12 ½ years with RE/MAX, it was time for a change. I am really excited and proud to be working with such an elite group of outstanding, full-time real estate professionals who are committed to providing world-class customer care.

The premise of The Platinum Group is ...

How Long Do I Have to Wait to Get a New Loan After a Pre-Foreclosure Sale or Deed-in Lieu of foreclosure? (from Fannie Mae Announcement SEL-2010-05)

Fannie Mae is updating several policies regarding the future eligibility of borrowers to obtain a new mortgage loan after experiencing a preforeclosure event (preforeclosure sale, short sale, or deed-in-lieu of foreclosure). The "waiting period" - the amount of time that must elapse after the preforeclosure event - is changing and may be dependent on the ...

Playing Poker Blindfolded - You All In?

 With all the technological tools available to buyers today, why would they need the assistance and representation of a licensed Colorado Springs real estate broker?  Buyers can search the internet & look at Colorado Springs real estate homes for sale endlessly through numerous sites - realtor.com, remax.com, zillow, trulia, personal websites (and more). This easy access to available properties for sale gives a buyer a tremendous amount of information, but only scratches the surface of what is ...

Thinking of moving from or to Colorado Springs? Your not alone. 24% of our population is transient every year - meaning that 24% of our population moves in or out of Colorado Springs each year. It's not only the real estate markets that differ from town to town - the Cost of Living does, too.

Insurance costs, tax bills and just plain, day-to-day living will dent a household budget ...

Many banks offer bi-weekly payment programs for borrowers to be able to prepay their mortgage easily and conveniently. It is automatic and you just have to remember to make sure to put that payment in your check register every 2 weeks. In effect, you are making an extra month's payment every year that goes towards paying down principal by making payments 26 times throughout the year of an amount of half your normal monthly payment, rather than making ...

New EPA rules regarding renovation, repair and painting activities that disturb lead-based paint are now in affect and have been since April 22, 2010. This applies to activities designed to update, maintain or modify buildings built before 1978 or Child Occupied facilities. Lead is especially dangerous to children under the age of 6. Lead can affect children's brains and developing nervous systems. Lead is also harmful to adults it can cause high blood pressure and lead can also ...

Good News for Military Buyers who would still like to take advantage of the $8000 Tax Credit. 

Here is the IRS Rule on this:

Additionally, there are new benefits for members of the military and certain other federal employees:

• Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual's spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.

• In many cases, the credit repayment (recapture) requirement is waived for members of the uniformed services, members of the Foreign Service and employees of the intelligence community. This relief applies where a home is sold or stops being the taxpayer's principal residence after Dec. 31, 2008, in connection with government orders received by the individual (or the individual's spouse) for qualified official extended duty service. The credit is still allowable even if this happens during the year of purchase. Qualified official extended duty is any period of extended duty while serving at a place of duty at least 50 miles away from the taxpayer's principal residence (whether inside or outside the U.S.) or while residing under government orders in government quarters. Extended duty is defined as any period of duty pursuant to a call or order to such duty for a period in excess of 90 days or for an indefinite period.

Give me a call about "Military First"....My way to say "thanks" to our military or check out the program here