Governor David Paterson and the New York State Legislature have passed a bill that will provide additional protection to New York state homeowners and renters facing foreclosure. The bill will expand the mandatory 90-day grace period to holders of all types of home loans, not just subprime mortgages, so more homeowners will have a grace period to address their situation before facing foreclosure. The bill will also help distressed renters, allowing them to remain in their apartment for the remainder of their lease or 90 days, whichever is longer, before receiving an official foreclosure notice. The bill also protects vulnerable homeowners by prohibiting brokers who offer distressed property consulting services from accepting any payment upfront, in order to avoid fraud. On Your Team. www.irenapopilevsky.com
The delinquency rate in New York state increased 73 basis points between the second and third quarters of the year, the overall percentage delinquencies was at 8.84 percent, according to seasonally-adjusted data from the Mortgage Bankers Association, released today. Nationwide, delinquencies on residential loans hit record-breaking levels in the third quarter this year. The delinquency for mortgages on U.S. residential properties with one-to-four units hit 9.64 percent in the quarter, according to the MBA. The figure is 265 basis points up from the same time period last year and up 40 points from the second quarter this year. The record had been set last quarter, when the delinquency rate was at 8.86 percent, but MBA experts said that prime and FHA loans, coupled with continued job losses nationwide, spurred delinquencies. "Despite the recession ending in mid-summer, the decline in mortgage performance continues," Jay Brinkmann, chief economist with MBA, said. "Job losses continue to increase and drive up delinquencies and foreclosures because mortgages are paid with paychecks, not percentage point increases in GDP." TRD
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On Your team.
Irena Popilevsky www.irenapopilevsky.com
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Attention Home Buyers!!!!!
Many homes available right now, Great neighborhoods, all prices available.
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As a GMAC Real Estate Professional, I am Your Trusted Advisor, Your Skilled Negotiator, and Your Expert Facilitator. I built my business and reputation on the highest standards of real estate ethics,
Welcome to Appleseed Realty GMAC Real Estate. Let me introduce some of the programs my company has to offer our customers.
The Premier Service Guarantee: A certificate which I will sign and give to my customers to explain our pledge of service and describes my role as your Trusted Advisor, Skilled Negotiator, and Expert FacilitatorSM. With this document I will explain what we do, the value we create from our service, and clearly put the customers needs first!
Value-Added Customer Programs: Through GMAC Real Estate's expansive and still-growing roster of HomeRewardsSM partnerships with home-related service companies that offer our clients special offers and discounts, I can further demonstrate the value we offer our customers - and in the process, help relieve the stress that so many customers experience before, during and after a sale.
Customer Satisfaction Survey: Through the Premier Service program, every GMAC Real Estate customer is asked to complete a survey evaluating the service they received. The simple act of asking them to do so sends an unmistakable message--that their opinion is important and their input is valued. In addition, the surveys allow you and GMAC Real Estate to document a track record of superior service that no other company can match.
Elegant Homes® is the most powerful luxury marketing program in the industry today!
As a leader in luxury real estate, we continually monitor consumer trends and behavior. We have found that Internet-empowered consumers represent the most profound shift in the history of advertising affecting almost every industry, including residential real estate. Today, 80% of all home buyers, including luxury home buyers, use the Internet to search for a home. Our Elegant Homes program is designed to target luxury home buyers in the medium they use most to search for homes-the Internet!
A GMAC Home Protection Plan makes your home more appealing, and protects you before, during and after the sale.
■ Homes with a warranty sell up to 50% faster than unwarranted homes.
■ Warranted homes are perceived as a safer investment and on average offer a selling price of up to 3% more.
■ With home warranty protection, the chance for conflict over a malfunctioning system or appliance is minimized.
■ A warranty can help avoid conflicts over a malfunctioning item that could affect or delay your sale.
■ Home warranties limit the possibility that you'll be asked to reimburse the buyer for a breakdown of a covered component after closing.
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