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THE SALES TEAM OF RUMMY DHANOA WOULD LIKE TO INVITE YOU TO OUR INVESTOR'S WORKSHOP:

PLEASE R.S.V.P. BY JANUARY 21ST - SEATING IS LIMITED
CALL 914-902-3252 or go to www.RealEstateWorkshop.Info
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During the first week of the new year, mortgage rates continued to be influenced by the same factors as in 2011. Stronger than expected US economic data roughly offset continued concerns about Europe, and mortgage rates ended the week nearly unchanged. Friday's Employment report provided further support that the US economy is gaining strength to begin the new year. Against a consensus forecast of 150K, the economy added 200K jobs in December. The Unemployment Rate unexpectedly fell to 8.5%, the lowest level since February 2009, from 8.7% in November. The decline was partly due to the increase in jobs and partly due to people dropping out of the labor force. Average Hourly Earnings, a proxy for wage growth, increased 2.1% from one year ago. This was an encouraging report in nearly every area. While prospects in the US appear to be picking up, signs of improvement in Europe have been frustratingly slow to emerge. Bond yields in troubled countries remained at elevated levels, and European banks had to pay higher than expected costs to raise additional capital. Investors are still demanding very large premiums to lend money to European countries which are considered risky, making recovery efforts even more costly. Relatively safer assets, such as US mortgage-backed securities (MBS), continued to benefit this week from the lack of progress in Europe. |
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Week Ahead Next week, the Fed's Beige Book will come out on Wednesday. Retail Sales will be released on Thursday. Retail Sales account for about 70% of economic activity. Import Prices, the Trade Balance, and Consumer Sentiment will come out on Friday. In addition, there will be Treasury auctions on Tuesday, Wednesday, and Thursday.
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With tenants and rental property, chances are you'll have to evict a tenant sooner or later either because the tenant hasn't paid his rent or because strange people keep visiting him at odd hours of the night. Whatever the reason, the tenant hasn't lived up to the terms of the lease agreement and you want him out. The question is, how do you go about evicting him?
First and foremost, remember that the laws in your state may require different procedures than the general advice in this post, so get familiar with the rules in your area and get yourself a good lawyer - preferably one that specializes in landlord/tenant disputes.
With the legal disclaimer stuff out of the way, let's look at some general eviction steps that apply in many states. As the real estate law section of FreeAdvice.com says: "The process of eviction is a very fast one compared to other kinds of legal actions. The trade off is that the landlord must do everything exactly right."
Step 1: Give notice - The very first step is to give the tenant notice. This notice can take many forms.
a. Nonpayment of rent - If the tenant has breached the lease provision that talks about paying rent on time, you'll typically send a "pay rent or quit" notice that says you'll begin the eviction process if the breach isn't cured within a certain number of days. That's just a fancy way of saying pay up or ship out.
b. Violation of occupancy rules - If the tenant has violated any other occupancy rules, like housing people who aren't on the lease, you may be able to send him an eviction notice under current law even if it's not explicitly called out in the lease. However, just like with past due rent, you may have to give him a specific number of days to correct the problem before proceeding with the eviction. Best bet is to check with a lawyer.
c. Unconditional notice - In some states, you can give notice of eviction for any valid reason without giving the tenant an opportunity to "cure the breach". You'll send this type of notice when you don't want the tenant to fix the problem; you just want him out. Again, check with a good lawyer to see what the laws in your state say.
Step 2: File the action in court - If you've sent the required legal notice and the tenant still hasn't fixed the problem within the specified number of days, then it's time to file an eviction action in court. Depending on where you live, filing an action can be as simple as filling out a form online or it may require a personal appearance in court. In either case, once the tenant is served, he generally has a certain number of days in which to respond before additional actions are taken.
Step 3: Fight or flight - If the tenant does not respond to the eviction action within the allotted time, then you'll receive a default judgment in your favor. If the tenant fights the action, then you're on your way to court. If you haven't found yourself a good lawyer yet, now is the time.
Step 4: Getting on with eviction - If the court rules in your favor, the next step is to contact the local Sheriff's Department to enforce the ruling. Resist the temptation to change the locks or remove the tenant's personal property. Taking matters into your own hands will almost certainly land you in trouble. Instead, let the Sheriff's Department do its job. They'll post a notice on the door and remove the tenant's belongings after waiting the appropriate period of time. That's when it's time to call the locksmith.
Make sure you know the laws in your area. It is an even better idea to have an attorney on hand to help through the process. As a landlord it is always better to be prepared for eviction situations in advance.
The Sales Team of Rummy Dhanoa
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JUSTIN CRUZ EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE
Justin Cruz of Remax Voyage has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.
In the Bronx area, more than 100s homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.
“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said REALTOR LAST NAME. “It is so rewarding to be able to help sellers save their homes from foreclosure.”
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Justin Cruz with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.
The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.
“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.
For more information call Justin Cruz 917-304-3710
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Justin Cruz and Remax Voyage are featuring a 2 family Handyman special located in Throgs Neck. Handyman make great investments. Makes it simple for your home everything you want it to be, more productive, more functional or more beautiful. Since they are often offer at a low price, buyers don't have to put a lot down to buy the property, and can then make the the necessary repairs to get the home in move- in or sellable condition. whether you are a handyman yourself, or you hire a contractor to fix up the home for you, fixer upper home can help you have huge amounts on new homes or investment properties. This home is great investment opportunity.
This home does need a lot of work but it is located in one of the most beautiful areas of the Bronx. Features a 2-3 bedroom apartment with balcony over a 1 bedroom apartment with deck. Full large basement with separate entrance, private driveway, backyard and 2 car garage. First time buyers can buy this home with as little as 3.5% down payment using the FHA 203k rehab loan. Great deal to buy and fix up the way you want too.
For more infromation call Justin Cruz 917-304-3710
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