Antoinette Murphy, GRI

Do you owe more on your mortgage than your home is worth and don't know what to do?

The answer is to contact your mortgage company and negotiate a remodification. Someone like myself, can communicate with your mortgage company and try to negotiate your loan with them, at no cost to you. You will have to supply a set a financials, copies of the tax returns, bank statements, pay stubs and a list of your assets and expenses. Most importantly, you need to prepare a letter of hardship explaining why you no longer can afford to keep up with the monthly mortgage payments.

If your mortgage company is not willing to modify your loan, and you don't see the light at the end of the tunnel, we can help list your home at a price that will sell, and keep you from going into foreclosure. This is a long and tedious procedure, but you will be able to stay in the home until it sells and save your credit.

If you have any questions regarding this procedure, you can contact me and I can answer your questions.

It is always a good idea to get legal advise and/or speak to a tax accountant.

Antoinette Murphy, GRI

RE/MAX Atlantic

703 White Horse Pike

Absecon, NJ 08201

Direct: 609-412-5703

www.BuyOrSellNJ.com

Have you always wanted to buy a home at the Jersey Shore?

Check out this youtube video. Send it to your friends.

http://www.youtube.com/watch?v=Fs0mbeHG52o&feature=channel_page

If you would like a real estate team that knows their stuff, call The Real Estate Expert Team. We are here to help!

Antoinette Murphy, GRI Robert Murphy, Buyer's Specialist

RE/MAX Atlantic

703 White Horse Pike

Absecon, NJ 08201

Direct: 609-412-5703

www.BuyOrSellNJ.com

Don't miss the boat or the $8,000 Tax Credit!

Affording a new home just got a lot easier! Congress has passed a new housing stimulus bill-- THE AMERICAN RECOVERY AND REINVESTMENT ACT OF 2009 -- that will help 1st time home buyers. If you have not owned a home, or haven't in the last three years - you may qualify for an $8,000 tax credit!

This credit is available on homes that go to settlement on or before November 30, 2009. The best part - unlike previous tax credits, is that this tax credit does not have to be repaid so long as you keep the house for at least three years. Don't wait, or you will MISS THE BOAT!

Contact The Real Estate Expert Team directly at 609-412-5703 to get more information WWW.BUYorSELLnj.com Antoinette Murphy, GRI - Robert Murphy, Buyer Specialist RE/MAX Atlantic 703 White Horse Pike, Absecon, NJ 08201

Accoring the the New Jersey Association of REALTORS, pending home sales are up for teh third consecutive month.

Record low mortgage interest rates boosted the NATIONAL ASSOCIATION OF REALTORS^®' (NAR) forward-looking pending home sales index 6.7 percent in April to 90.3 from 84.6 in March, 2009. April 2009 was 3.2 percent above April 2008. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market, too," says NAR Chief Economist Lawrence Yun. The index in the Northeast shot up 32.6 percent from March, 2009 to 78.9 in April, 2009.

For more information, read NAR's press release or watch a video interview of Lawrence Yun on the latest index figures.

Buyers should be out in droves with the sales prices down to afforadable levels and the mortgage rates still low. Let's not forget the $8,000 First Time Homebuyer tax credit. Buy now and don't utter the words "IF ONLY!" a few years down the road.

What does the rising interest rate mean? For starters, it means that the house you were thinking of buying is now less affordable to you. For every 1% rise in the interest rate, that means that this dream home will now cost you $9,000 more. No, not because the current owners decided to put down fresh sod on the front lawn, or upgrade to brand new stainless steel appliances because they like you. It's because the interest rates are rising...!

Yes, interest rates are on the rise, and big time. I hope this means that the economy is starting to recover. We have noticed in the real estate market that things have picked up dramatically. There are multiple offers on properties now that have been sitting idle for months and months without a single offer. Of course the prices are dropping at alarming rates. The buyers are presenting very low offers on these properties, but I think this is about to change.

When buyers loose out on not one but two houses they presented contracts on because of higher bids, by the third house they find, they are willing to offer a price that the seller won't just laugh at. By this time they are offering a price that is more realistic and in line with the current market conditions. When this happens, there is something to work with.

If you want to take advantage of the $8,000 First Time Buyer Tax Credit, you should be out looking for a full-time Realtor who is committed to finding you the right house for the right price. We are professionals and know the market. There is a time frame involved in buying or selling a home. You more than likely will not find your dream home on the first run. Have your Realtor schedule not more than 5 homes at one time because after a while, you can't remember what house had one feature.

When you find the home you want to present a contract on, it may take a couple of days to iron out all of the wrinkles with the price and provisions in the contract. Then there is the attorney review period. Let's not forget, in order for your mortgage rep to submit your mortgage application, they need the a fully executed contract and completed application and required fee. You're looking at a approximately 45 days to settlement from the time you have a contract signed by all parties.

Sooooo, that brings us back to the $8,000 First Time Buyer Tax Credit. Don't wait until October to start looking for your new home. The fast approaching dealine to qualify is December 1, 2009. That means you have to settle on your new home by that day at the latest...no exceptions. I certainly would not reccomend that you sit at the settlement table on December 1. There may be some unforeseen delay that may bump you to the next day, and that could cost you. You don't want to be up against a wall to make a very large investment like buying a home. You want time to shop and be comfortable that you have chosen the right property. Give yourself plenty of time. Remember the early shoppers get the best deals.