About Kenosha County, WI

With today's declining home values some homeowners in Southeast Wisconsin have found it difficult to successfully refinance their home. In the early 1980's FHA has permitted what is called a streamline refinance. By utilizing an FHA streamline refinance a homeowner can refinance their home without having to provide all of the income and asset verification. The homeowner also has the option of doing the streamline with or with out an appraisal depending on the circumstances. Their are some basic requirements with a FHA Streamline Refinance and they include:

• The mortgage you want to refinance must already be an FHA Mortgage.
• You cannot take cash out.
• The mortgage must be current
• The Streamline Refinance should result in the homeowners payment being reduced.

The bottom line is; if you live in Kenosha, Pleasant Prairie, Somers or anywhere else in Southeast Wisconsin, give me a call and lets see if a FHA Streamline Refinance is right for you.

Visit my web site at www.randykeberlein.com to learn more about refinancing. You can also register to win $1,000.00 by clicking here!

In a previous post, I described being contacted by an out of state investor interested in pursuing real estate to be sold in a tax sale. Coincidentally, the property which the out of state investor contacted me about ended up in the hands of one of my clients. As the successful bidder of a property seized by the IRS and sold for nonpayment of taxes, my client (and I as broker) had lots of unchartered territory to muddle our way through.

Soon after the purchase, my client contacted me to list the property for sale. She was concerned that another party's name appeared on the tax bill. Surely just an example of typical delays in processing paperwork. A quick search and hold of the title proved valuable since my client was apparently a joint title holder with a complete stranger.

According to my client, once the 180 day redemption period passed after procuring her spot as the successful bidder, my client paid the remaining balance due, and the IRS sent all documents, including a quit claim deed, to my client. She promptly recorded the quit claim deed with the local municipality and the sale was final...or so she thought.

DID SHE ONLY BUY ONE HALF INTEREST IN THE PROPERTY?

According to the municipality...yes. At the time the IRS seized the property, there were two people (unrelated) on title. When the IRS sent the quit claim deed to my client, it only listed the party from whom the property had been seized for nonpayment of taxes. The other party on title wasn't mentioned in any of the documents. My client wasn't aware of another party at the time of the sale.

IS THE INTERNAL REVENUE SERVICE IN THE BUSINESS OF DEFRAUDING UNSUSPECTING REAL ESTATE INVESTORS?

No...it's not even an issue of caveat emptor (buyer beware). Bottom line is due dilligence when purchasing real estate unconventionally. In this case, it turns out that the IRS had a statement from this mystery title holder that stated that they had no interest in the property. Unfortunately, this signed statement is not in an acceptable format for recording with the municipality. If the proper due dilligence had been executed, the buyer would have demanded proper documentation from the IRS to ensure clear title BEFORE paying the remaining balance due. We could have avoided a lot of backtracking and wasted time.

On the flip side, we're avoiding future legal troubles by clearing title now rather than waiting until seller accepts an offer and then scrambles to provide evidence of clear title to the new buyer.

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I have been on Facebook for a while now and have 345 friends to show for that but how many of us Realtors joined Facebook to network with other Realtors and find ourselves going on there for "personal" business? I have in the past few months cut down the time I spent on Facebook because it is not INCOMING producing! Sure, I enter all my listings on there, but what is the likelihood that I can sell a home thru Facebook? 0? 1? Not sure about the outcome but I have decided to put my energy elsewhere. As a Realtor, my number one problem is time management because I don't have to report to myself.. I am my own boss - Therefore, I can goof off and not do a single thing, and stay in my robe and call it, "working out of the home"..It's time to take a step forward and do more incoming producing activities - no need to blame the market, the housing crisis, unemployment, etc.. because I am seeing Realtors having their best year yet in 2008 because they didn't let Negativity or other distractions stop them! Facebook is great to network, but if you are spending hours upon hours playing games, chatting, you are not beimg productive! "Design upon your major definite purpose in life and then organize all your activities around it" (Brian Tracy) So, as the saying goes, "I've heard there's going to be a recession; I've decided Not to Participate" :) Happy Networking! and Be a Success in whatever you do! Remember, you control your destiny!

Looking for something to fun to do with the whole family? Stop out at the Kenosha County Fair (August 13th-17th).

There is really something for everyone. I honestly can't remember a year that I didn't stop by the Kenosha County Fair, and I am looking forward to taking my two year old this year. She will love seeing all the 4-H buildings with the animals, and riding the carousel. I am looking forward to the fair food, the commercial building (who doesn't like free samples), and the demo derby.

There are concerts each night at the fair at the Miller Lite Creek Side Stage. Come and enjoy the music of Chasin Mason, The Toys Band, Infinity, Billy Childers Band, and 3D Acoustic Rock.

Click here to visit the official web site for the Kenosha Co Fair where you will find ticket information, directions, and the events schedule.

Hope you and your family are able to make it out to the fair this year!