Well 14 days into the new year and I finally get around to posting a 2010 blog. Sorry but I have been spending every free minute I have trying to understand and explain the new 2010 GFE to clients and realtor's. More on that in a future post but suffice to say it's not going well.
But on the good news front the Montgomery county transfer office that oversees short sales has announced the following. The position that short sales should be taxed on the unpaid principal balance if the excess debt is over and above the sales price is halted.
This matter is under review but they have received many complaints from all interested parties in the home buying process.
Until further notice short sales are being counted at the actual contract sales prices as it should be. Now this can obviously change again as the policy is merely under review, never the less, a very good sign.
Combined with the low rates that should be gone in a few months and the money available for both first time buyers and even for repeat buyers there NEVER has been a better time to buy a home!! If you need help with financing call or email me right away so we can get started. If you need to buy a home contact one of the experienced Choice Real Estate team and they can get right to work for you.
For your own sake please don't wait, contact us now. It won't cost you anything to talk adn review plans and options before the free money is gone and the rates are higher.
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