Extension of the $8,000 First Time Home Buyers Tax Credit, and NEW $6,500 Tax Credit!
Senate leaders had reached a tentative agreement on Wednesday, October 28, 2009 but no bill was passed as of yet. The agreement will extend the $8,000 tax credit from its current November 31st expiration to April 2010, for having any contract or settlement by June 30, 2010.
In the bill there is also a proposed NEW $6,500 credit for current homeowners who lived in their primary residence for 5 years or more and have a joint income below $250,000 ($125,000 for singles). As the previous tax credit has pulled first time home buyers out of the woodwork, the extension will pull any remaining ones off the fence. This "NEW" $6,500 tax credit could pull any existing home owners out into the market as well. The positive aspects of this $6,500 will encourage current owners to sell their existing property and purchase another property.
This is excellent news for all Real Estate professionals!

There was no agreement whether to put the bill to vote on its own or or jointly with other proposed legislation. The bill has to be voted in the house and signed off on by the president to become a law. Lets hope it gets approved before the Winter season!
What do you guys think the impact will be on the extension of the First Time Home Buyers Tax Credit, as well as the $6,500 Credit for existing home owners?
Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled
"December 1 - April 30, 2010" become effective when President Obama signs the bill. All changes made
to the current credit become effective on that date, as well!!

Mike Linkenauger
First Coast Realty Associates
(904)733-4911
Find Jacksonville FL Real Estate on our local website, or subscribe to my blog at http://activerain.com/blogs/mikelinkenauger
How to write a Short Sale Hardship Letter

Our government estimates by the end of 2009, over 50% of Americans who have a mortgage on their home will owe more than the value of their property. If you are in a difficult financial situation like much of the country, a short sale may be the only alternative to a foreclosure. We do have a saying we use in the business, "a short sale is only for those that HAVE to sell, not for those that WANT to sell". In a short sale, your lender will require you to prove your financial hardship, and the short sale hardship letter is a critical piece of required documentation.

What constitutes a "financial hardship"?
By the time a home owner is considering a short sale, most have already done a "band aid" loan modification, either a forbearance or repayment plan, which is a temporary solution to a long term problem. If you have already written a hardship letter for a loan modification, you will need to write a new one that is more specific to a short sale.
Here are some common things that a short sale hardship letter should and should not contain:
CLICK HERE to see some sample short sale hardship letters
While you may be stressed from the financial situation in your life, know that this is only a temporary season in your life. All things come to pass. While the short sale process is anything but "short", you can recover your credit and be ready to purchase a home again in as little as 18 months.
In a short sale, it is important to have an experienced agent to guide you through the short sale process. ALL traditional closing costs are paid for by your lender in a short sale, including your real estate brokerage fees. To find a local short sale Expert who will help you with the process at no cost to you, visit www.short-sale-specialists.com. That site is also a top resource for anything related to short sales including other required documents, and lender specific guidelines and contact information.

Mike Linkenauger
First Coast Realty Associates
(877)737-4903
mlinkenauger@yahoo.com
Find Jacksonville FL Real Estate on our local website, or subscribe to my blog at http://activerain.com/blogs/mikelinkenauger
Copyright 2009 First Coast Realty Associates
SHORT SALE SCAMS EXPOSED - "THE $10 OPTION CONTRACT"
Hopefully that title got your attention!
If you are reading this, you fall into three categories:
You are with me - You are likely an agent who values fiduciary duties and ethics over money, or a consumer who does not tolerate rip off artists.
You are against me - You are likely an investor or agent who disagrees with me, who would likely value money over ethics and fiduciary responsibilities.
Or you have no clue what I'm talking about!
If this blog post is angering you already, I definitely know which category you fall into! Those of you who know me, know that I'm not in the business to make friends with the world. I do have great friends and people I'm close to in my life. But, I am not always the most polite person on the face of the Earth, especially when I see injustice going on or the subject is something I feel passionate about. I say it like it is. I am going to state my case, and then I challenge ANY "short sale home buyers", investors, or Realtors(R) who disagree to a debate, right here, right now!!
For those that don't know what I'm talking about, the option contract seems to be the most common instrument that investors use to try to "buy" short sale homes. There are other ways investors purchase short sale homes, I've heard them all. Pretty much all of which I believe to be unlawful and unethical in some way, but the $10 option contract seems to be the most common scheme I run into.

Here is how it works:
In a nutshell - The investor puts signs up around town saying something like "we buy houses" or "stop foreclosure" or "John Buys Homes - CASH". The investor also may start websites claiming to offer solutions to home owners in hardship. Either way, the investor puts himself out there as a "cash home buyer" ready to buy your home TODAY!!. Unsuspecting home owners who are upside down on their homes and in hardship call the investor looking for some kind of solution to avoid foreclosure. The investor then asks the home owner to sign a $10 option contract, giving them the OPTION to purchase the home for an extended period of time. Once the option is recorded, it is basically another lien on the property! The investor considers this to be "ownership interest" and "equitable title" to the property. Once the home owner is out of the property, the goal of the investor is to basically manipulate the situation in ANY way to get the home approved as a short sale by the home owners lenders as cheaply as possible. Once approved, the investor tries to find a buyer to flip the home to PRIOR to purchasing, then ONLY buys the home (using cash/hard money funding) if they can put the deal together and flip it to a REAL buyer by buying and selling at the same time.
Here is why the $10 option contract is not only unethical, but illegal:
1.) These investors do NOT buy homes like they say they do! They are really "transaction coordinators", not a "short sale home buyer", right?? I mean after all, they ONLY buy the house if they can find somebody to flip it to right away. If they can't find a REAL buyer to buy it, the property goes into foreclosure, destroying the borrowers credit (could still be liable for money owed!). The investor is out a whopping $10. I have talked to MANY sellers who were under the impression that the investor/con artist was the person actually buying their home!
2.) The law has determined that "token consideration" ($10) doesn't constitute a valid contract, period. This means you can't legally say you own a home, and can't make decisions like an owner could when offering token consideration.
3.) What if the lender asks that the short sale deficiency be repaid by the home owner?? This is a very common occurrence. What if, the investor tries to manipulate the lender and steal a home for $150K, instead of the $180K it may fetch if sold in a legitimate transaction. What if, because the home sells for less, the lender asks that the home owner repay $40,000, instead of say $20,000 or nothing if the home had sold for a higher price. Who's best interest is that in? What about agents who agree to hide offers that come from legitimate buyers from the sellers lender, only to present to an investor who is not the REAL seller? Also what about agents who misrepresent the value of the property? I challenge ANY agent who claims to have ethics or values to tell me why they should be allowed to have a real estate license if they approve of this.
I'll save some other reasons for anybody who cares to debate with me!!
Because of my involvement in the short sale industry, I am constantly bombarded by these con artists trying to recruit me into their gangs of schemers. It is people like this in my opinion who are the epitome of "American Greed", and are the reason half the world despises our country. When approached by these people, the first thing they ALWAYS go after with me is, "You'll make 6% on the buying side, and 3% or 6% on the selling side". They come at me very hard, and its always ALL about money with them. Probably heard that statement 100 times. They are an extremely aggressive and manipulative bunch.

I'm not for sale, sorry to disappoint.
Realtors, we must stand for something, or we will fall for anything! Don't let one of these investors talk you into selling your values.
Sellers!! If you are in financial hardship and considering a short sale on your home, beware of short sale scams out there! The $10 option contract is just one method these guys use to tie up properties, rob your lender, and play games with home owners credit and financial future. There are MANY others!
ONLY use an agent who will look out for YOUR best interests, NOT their own! Common sense would likely say that it is impossible for anybody to look out for your best interests, while trying to profit from your misfortune as much as possible!
If you are looking for a good short sale specialist in your area who is pre screened, very experienced, and must agree to the strictest ethical standards and practices, visit www.short-sale-specialists.com.

Mike Linkenauger
First Coast Realty Associates
(904)733-4911
Find Jacksonville FL Real Estate on our local website, or subscribe to my blog at http://activerain.com/blogs/mikelinkenauger
The clock is ticking! The $8,000 Tax Credit for Jacksonville First Time Home Buyers ends November 30th!
Here are the best deals we could find on the market right now that will close still in time for the $8,000 tax credit! None are "short sales", and Most are new or have been totally renovated!!
MOST ALL OF THESE HOMES BELOW ARE OFFERED WITH AT LEAST $5,000 IN CLOSING COST ASSISTANCE!!
Click the property description for more information on each home!
1.) $159,000 3/2.5 2-Story Southside house on 1/2 Acre - Almost NEW!
2.) $145,000 3/2.5 Intracoastal Jax. Condo with 2-Car Garage 1,560Ft.
3.) $150,000 HUGE 3,000Ft. 5/3 - Totally Rehabbed, everything NEW!!
4.) $139,000 1/2 Acre Lot - 4/2 1,700Ft., Granite, Wood Floors, Renovated!
5.) $159,000 BRAND NEW HOME! Brickfront 3/2 in Murray Hill - Loaded!
6.) $179,000 1,850Ft. Brick NEW HOUSE in Murray Hill - 4 Bed/2 Bath
7.) $170,000 1,800Ft 4/2 Brick House on Lake in Eagles Hammock!
If you have any other questions about the $8,000 tax credit or available financing for a home,visit http://www.firstcoastre.com/professional397.shtml or give me a call or email.
Get started on your home search today! Visit http://www.firstcoastre.com/custom3.shtml for the most advanced home search in the world!
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First Coast Realty Associates
Mike Linkenauger
(904)733-4911
Jacksonville FL First Time Home Buyers Don't miss the $8,000 tax credit!!
Loss Mitigation Department Contact Numbers
I've seen a few of these lists, but I think mine is the best!! You be the judge! You can access this list ANYTIME by going to www.bankphonenumber.com. Below you will find contact numbers for all major financial institutions around the country
If you find any bank and loss mitigation department phone numbers that are incorrect, or have any that are NOT already on this list that we can add, PLEASE fill out the form at the bottom, or email them to ethanfcre@yahoo.com
This is copyrighted content, please don't steal it!
REMEMBER! Find this list anytime by going to www.BankPhoneNumber.com
KEY: LM = Loss Mitigation, Auth = 3rd party Authorization form
ABM AMRO Mortgage
(800) 783-8900
Accredited Home Lenders 
(877) 683-4466
AHMSI - American Home Mortgage Corp.
![]()
General Info: 877-304-3100
Fax: 877-452-6490
Fax: 866-452-1837
AMC Mortgage Services 
(800) 211-6926
(Also handles loans originated by Ameriquest and Argent)
Ameriquest Mortgage 
(Debt collection--see AMC Mortgage Services) (800) 211-6926
AmTrust Bank (aka Ohio Savings Bank)
(888) 696-4444
Aurora Loan Services (Debt Collection) (800) 550-0508 ![]()
General info: 800-550-0508
Fax: 303-728-7648
Short Sale Fax: 866-581-4503
Avelo Mortgage LLC
Now serviced by Litton Loan Services, Inc
(866) 992-8356*
Bank of America (800) 846-2222 
General Info: 800-285-6000
Fax: 716-635-7255
LM Dept: 800-846-2222
Heloc Dept: 800-633-4510
Heloc Fax: 704-208-1350
BB&T Mortgage
(800) 827-3722*
Beneficial ![]()
(800) 333-5848
Central Pacific Bank ![]()
(800) 342-8422*
Charter One ![]()
(800) 234-6002
Chase
(800) 548-7912
Loss Mitigation (877) 838-1882 ext 52195
The Number you will be directed to after you give your loan number: (866) 665-7629
Chase Home Finance![]()
(800) 848-9136 (customer service) (858) 605-2181 (delinquency customer service)
General Info: 614-422-0376
General Fax: 614-422-7259
Loss Mitigation Dept: 800-446-8939
Loss Mitigation Fax: 888-874-2664
Collections: 800-848-9380
Regular package fax: 614-422-7259
Authorization Fax: 614-422-7912
Authorization Fax2: 614-422-7575
Authorization fax 3: 866-282-5682
Foreclosure Dept: 800-981-3792
Short Sale Dept: 877-419-6490
Chase Home Finance-New Jersey
(800) 446-8939*
Chase Manhattan Mortgage
(800) 446-8939 (Ohio Servicing Center)
(800) 526-0072 (Florida Servicing Center)
(800) 527-3040 x533 (Florida Servicing Center)
Chevy Chase Bank ![]()
(800) 933-9100
Citi Financial Mortgage![]()
(800) 753-3673
General Info: 866-704-8050
Hmoe Equity Dept: 800-685-0935 & 800-283-7918
1st lien Short Sale Dept: 866-713-4785
1st lien fax: 301-696-4473
2nd lien Short Sale Dept: 866-520-5499
Short Sale Dept fax: 866-675-5772
2nd Mortgage Division: 866-520-5499
Collections Dept: 800-788-4517
Citimortgage (800) 283-7918
Countrywide![]()
(800) 262-4218
Loss Mitigation Dept: 866-880-1232
Short Sale Department Fax: 888-491-4947
Authorization Fax: 805-520-5019
Authorization Fax2: 800-658-0395
Community First Credit Union
General info: 800-342-8416
LM Dept: 904-371-7964 x 1
Fax: 904-371-7938
Ditech (GMAC) (800) 852-0656 (800) 449-8582
Downey Financial Corp. (800) 824-6902, ext. 6696
EMC
(800) 723-3004
General Info: 800-723-3004
Fax: 917-849-2677
EverBank (800) 669-7724 ext. 4730
Everhome Mortgage
General info: 800-669-7724
Fax: 904-281-2337
Equity One (Debt collection) (866) 361-3460
First Horizon Home Loans (800) 489-2966*
First Franklin
Customer Service: 800-346-6437
Loan Services: 800-745-1787
Auth fax: 724-957-9032
LM Fax: 412-499-3400
Payoff Fax: 412-918-7327
Resolution Dept: 800-622-5035
Fifth Third Bank 
(800) 375-1745 Option 3
First Merit Bank (888) 728-9931
Flagstar Bank (800) 968-7700, ext. 9780
Florida Telco
Mortgage Dept: 904-720-1759
Mortgage Dept. Fax: 904-722-6658
Fremont Investment & Loan (866) 484-0291
GMAC Mortgage![]()
(800) 850-4622
General info: 866-725-0782
Fax: 866-709-4744
LM Dept: 800-850-4622
GreenPoint Mortgage Funding (800) 784-5566, ext. 5383*
Green Tree (877) 816-9125
Homecomings Financial (800) 850-4622*
HomeEq Mortgage Servicing ( Debt collection) (866) 822-1471
General Info: 866-822-1471
Fax: 866-577-1227
Fax Auth: 866-574-0832
Household Finance (A HSBC Co.) (800) 333-5848
Household Mortgage (800) 333-4489
HSBC Mortgage (800) 338-6441
General info: 800-338-6441
Fax: 866-657-6621
LM Dept: 888-648-3129
LM Fax: 732-352-7519
Huntington National Bank (800) 323-4695
Indymac Bank (877) 736-5556
General Info: 877-736-5556
Fax: 269-353-2474
Fax auth: 626-535-4084
LM Fax: 626-583-1370
Irwin Mortgage (888) 218-1988
James B. Nutter & Company (800) 315-7334
Key Bank (800) 422-2442
LaSalle National Bank (800) 783-8900
Litton Loan Servicing
(800) 999-8501 or (800) 548-8665
Fax (713) 966-8820
General Info: 800-999-8501
Fax: 972-653-6322
Fax2: 972-653-3333
Midland Mortgage (800) 552-3000 or (800) 654-4566
Mortgage Lenders Network (800) 691-0129
Mortgage Electronic Registration Systems (MERS) (888) 679-6377
National City (800) 367-9305, Ext. 53221 or (800) 523-8654
Nationwide Advantage Mortgage Company (800) 356-3442, ext. 6002*
NationStar Mortgage (888) 850-9398* Press 0 for operator
General Info: 888-850-9398 x 3828
Fax: 214-488-1877
New Century Financial Now Carrington Mortgage Services (800) 790-9502 or (877) 206-9904;
NovaStar Mortgage Loan Resolution Department (888) 743-0774 Non-English: (888) 743-0774, ext. 4523
Ocwen Federal Bank (800) 746-2936 or (877) 596-8560
LM Dept: 800-746-2936
LM Dept: 866-355-6034
LM Fax: 407-737-5693
Ocwen Financial Corporation, Phone: 877-226-2936
Phone: 561-682-8000, x8386
Option One (866) 711-1962 or (888) 275-2648
PHH Mortgage (Formerly Cendant) (800) 257-0460
(800) 750-2518
Regions Bank
General info: 800-734-4667
Loss Mitigation Dept: 205-560-5421
Loss Mitigation Dept 2: 866-298-1113
Mortgage Dept: 800-986-2462
2nd Mortgage Dept: 800-231-7493
Loss Mitigation Fax: 205-560-5421
ResMae Mortgage Corp. (877) 473-7623, ext. 5944
Saxon ![]()
(800) 665-7367
General info: 888-325-3502
Authorization Fax: 817-665-7970
Authorization Fax 2: 817-665-8181
Loss Mitigation Fax: 888-240-1885
Select Portfolio Servicing (888) 818-6032
Fax: (801) 293-3936
SkyBank (800) 290-3359
Sun Trust Mortgage
(800) 634-7928
General info: 800-443-1032
LM Dept: 800-634-7928 option 5 then x 58791
Auth Fax: 804-291-0134
LM Fax: 804-675-7399
Third Federal Savings (888) 844-7333
USAA
LM Dept: 866-899-5308
LM Fax: 866-355-6034
Auth Fax: 866-501-1610
US Bank (800) 365-7900
General Info: 800-240-7890
LM Dept: 800-337-1193
Fax: 216-475-7340
Wachovia
(866) 642-8608
General Info: 866-642-9405
Fax: 866-260-3962
LM Dept: 866-642-8606
Washington Mutual ![]()
(866) 926-8937
(888) 453-3102
(800) 478-0036
(800) 254-3677
Waterfirld Mortgage (800) 957-7245
Fax: (260) 459-5390
Wells Fargo 
(877) 216-8448 or (866) 261-5642 or (800)766-0987 or (800) 678-7986
General Info: 866-234-8271
Fax: 866-359-1975
LM Dept: 866-903-1053
LM Fax: 866-837-9108
LM Fax: 866-590-8910
Wendover Financial Services Corporation (800) 934-1081 or (800) 436-1022
General Info: 866-234-8271
Fax: 866-359-1975
Loss Mitigation Dept: 800-850-4622
Wilshire Credit Corporation (888) 502-0100
This list will be updated regularly at www.BankPhoneNumber.com.Hope you have found our list of Loss Mitigation Department Phone Numbers helpful! Please contact us if you find an errors or have others to add!
Copyright 2009 - First Coast Realty Associates
Please do not copy this content!
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