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Safer Driver...There's an App for That!

2011-09-06T09:41:00.002-04:00

A recent study by the National Highway Traffic Safety Administration found that distracted driving was the leading cause in 448,000 accidents and 5,474 highway deaths in 2009, a 16% increase from 2008.

Drivers today are often distracted by incoming text messages on their cell phones. The good news is that technology can also help solve this problem. New services – like DriveSafe.ly – have sprung up that eliminate the need to read text messages AND the need to respond.

Here's how it works. You download an application to your phone. Then, when you get ready to drive, simply turn the application on. When you receive a text message, the application actually reads it to you…automatically…and out loud.

It then instantly sends a reply stating that you are driving and will respond as soon as you are able to do so safely.

If you receive a lot of text messages while driving or if you have a teenager of driving age, this could be one of the most important safety steps you do this year.

After all, this simple application could save your life or the life of someone you know.

Being Patient Through Transformation.

2011-08-31T08:09:00.002-04:00

“We are all faced with a series of great opportunities brilliantly disguised as impossible situations.” ~Charles R. Swindoll

Ever noticed a chrysalis hidden within its cocoon? The final few moments before it emerges as a butterfly compose what science terms as metamorphosis, a transformation.

If you have been lucky enough to observe this process, which I highly recommend watching, you’d notice it has to struggle quite a bit before it gets all the attention for being the magnificent creature it is.

It’s long and painful. However watching it, you may be tempted to clip off the outer covering of the chrysalis with a pair of scissors. And you might do it, thinking you’re doing it a favor. But when it finally emerges, you’d be sorely disappointed.

The chrysalis’ covering holds within its shell vital fluids that are important to its wing formation. But your act of kindness, of clipping that outer shell deprives it of that, and as a result, the butterfly that emerges is crippled, deformed, and nothing like the butterfly it was supposed to be.

On the other hand, if you can muster up the patience to watch this metamorphosis take place, without any intervention from your side, you’ll see one of the most beautiful miracles of nature, and one of life’s best lessons.

Our lives are journeys to this same type of metamorphosis, to find a sense of purpose in life. We cannot achieve this without the difficult situations or the pain that life often brings in generous doses.

Each one of us has had to let go of a dream, compromise, and experience pain and the entire gamut of emotions that an undesirable change can bring. But by no means did it ever spell the end of all dreams.
If you stay true to your conscience and live your life the way you believe it should be, you can be rest assured of this:

Every bad experience, painful relationship, and compromise you’ve ever made in good conscience will somehow transform into a beautiful inner reservoir of spiritual gifts and blessings.

Life wants you to take notice of three things when you’re going through a difficult time that may seem eternal:

Trust life. There’s a higher purpose behind every seemingly impossible and difficult phase. You’ve just got to hang in there and know that it’s for the best.

Change. If you find yourself feeling bad a lot more often than not, take time out to reflect on whether or not you’re happy deep down with what you’re doing.

Believe. Believe in yourself, even if the world around you doesn’t. If you don’t, who will?

Hold onto what you believe in. You’re meant to emerge as a beautiful butterfly from your chrysalis. Always remember that, with a smile, and give yourself a chance to delight and revel in the mysterious workings of the universe. (by Andrea Johnson)

Before and After Hurricane Irene in Westport MA

2011-08-30T14:56:00.002-04:00

The day after hurricane Irene

by Noemi Cardoso

Hurricane Irene in New England 08/27/2011 at 5pm

2011-08-30T14:53:00.002-04:00

Hurricane Irene Saturday 08/27/2011 at 5 pm
by Noemi Cardoso

The Emergency Homeowner's Loan Program (EHLP)

2011-08-30T14:51:00.000-04:00

The Emergency Homeowners' Loan Program (EHLP)

FHA qualified homeowners:

HUD has reopened the application intake for the Emergency Homeowners’ Loan Program (EHLP), a program that provides mortgage payment assistance to eligible homeowners experiencing a drop in income of at least 15 percent, directly resulting from involuntary unemployment or underemployment due to the economy and/or a medical condition. The mortgage assistance covers past-due mortgage payments, as well as a portion of the homeowner’s mortgage payment for up to 24 months (up to $50,000). The program is offered in 27 states and Puerto Rico. The deadline to apply is September 15, 2011. Since EHLP funds are provided to qualified homeowners on a first-come, first-served basis, it is critical that homeowners provide all required documents in a timely manner or risk losing the opportunity to apply for assistance under the program.

The Emergency Homeowner’s Loan Program (EHLP) application process has reopened in 27 states and Puerto Rico to give homeowners at risk of foreclosure more time to apply for the program. Applications will be accepted through September 15, 2011.

EHLP will assist homeowners who have experienced a reduction in income and are at risk of foreclosure due to involuntary unemployment or underemployment, due to economic conditions or a medical condition. Eligible homeowners can qualify for an interest-free loan, which pays a portion of their monthly mortgage for up to two years, or up to $50,000, whichever comes first.

How to Apply
To apply for EHLP, homeowners should do the following.

Complete the Applicant Worksheet and the Third Party Authorization.
Gather the applicable documents listed on the document checklist.
Submit the worksheet, authorization, and applicable documents to a participating EHLP agency. To find a participating agency, click here.

Although September 15 is the last day to submit documents, homeowners are strongly encouraged to submit all required documents quickly since EHLP funds are provided to qualified homeowners on a first-come, first-served basis.

EHLP States
Additional applications will be accepted in the following EHLP states: Alaska, Arkansas, Colorado, Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming, and the Commonwealth of Puerto Rico.

Substantially Similar EHLP States
On April 1, 2011, HUD identified five states operating their own respective mortgage assistance programs that met HUD's criteria as "substantially similar" to the EHLP. These include Connecticut, Delaware, Idaho, Maryland, and Pennsylvania. Homeowners may still be able to apply in these states. Click here for more information.

States That are Not Participating in EHLP
Those states that are not identified above receive direct assistance through the U.S. Treasury's Innovation Fund for Hardest Hit Housing Market Program. The list of Hardest Hit Fund states is provided below. If you live in one of these states, click on that state's name to find out more about Hardest Hit Housing Market Program that is available where you live.

Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Oregon, Rhode Island, South Carolina, Tennessee, Washington DC

1325 G St., NW, Suite 800, Washington, DC 20005-3100
Phone: (202) 220-2300 | Fax: (202) 376-2600

Westport MA - 08-27-2011 at 2pm. Elephant Rock and Private Beach before Hurricane Irene

2011-08-30T14:49:00.000-04:00

08-27-2011 at 2pm - Elephant Rock and Private Beach in Westport MA

by Noemi Cardoso

Before Hurricane Irene Hits New England - Westport MA

2011-08-30T14:45:00.002-04:00

Westport MA - Elephant Rock
by Noemi Cardoso

Hurricane Irene Heading to New England.

2011-08-25T21:59:00.002-04:00

Hurricane Irene Heading Towards New England?

The wind chimes have been removed over night because of the lovely sound became and irritable noise, the sun hanging on the deck wall has been knocked down a couple of time, chairs have moved from one side to the other on the deck like on a weird barn dance. The entrance to the Westport River has been much quieter in the last few days, just a couple of boats yeaterday and much less today, not the high traffic we usually see at this time of the year. The water is warm and the wind is actually nice after a couple of muggy suffocating days The surf is high and the usually quiet view I enjoy from the deck has become a much busier one, with waves that are usually not here. I see the waves at Horseneck Beach Gooseberry Island and Cherry and Webb and surfers are flocking into is like bees to an open pot of sweet honey. The same scenario is seen at Elephant Rock where the waves are getting bigger and bigger by the hour. These are just few easy and clear signs that something is stirring up somewhere and we are just getting few signs here and there. Some of these facts are great news for surfers and other radical water sports lovers, but how about the rest of us? What does Hurricane Irene means if, in fact, she decides to make an unexpected visit on Sunday?

For me it's a brand new thing. See I've come from Brasil, where fortunate for it's population, we don't have hurricanes nor earthquakes. However while the beauty of the ocean, the sound of the wind blowing through the trees and the should of the ocean makes me happy as a child on the first day of vacation, the other side worries a little about it, since I have no idea on what to expect or how to prepare.

Last week we were talking ( a friend and I) about the Hurricane of 1938, which left ruins of a house right on the beach next to where I live, and I've been reading The Last Fling about Hurricane Carol in 1954

Off course I experienced Earl lin 2011,and have seen the destruction Katrina has caused. I am aware of the incredible damages it can cause. But for me, as a newbie, I have to confess Earl was something beautiful to see; the way the waves crashed on the rocks, the roaring sound; it felt like Buzzards Bay was speaking and speaking about something serious. I walked down to Elephant Rock and enjoyed the strength of the winds and the beauty of it all. However they are now saying that Hurricane Irene is supposed to be much stronger, the strongest in the last 20 years so I hear on the news. I also know that 'the news' love all the sensationalistic side of everything, which I believe to be a dis-service to communities, since we can never say if this time is real or just another boy ''crying wolves' again.

In any case, my next door neighbor, knowing that I am a complete ignoramus in reference to hurricanes, came by to remind me to save some fresh water, empty my deck of chairs, decorations and etc, and get some dry food and a flash light since we might loose electricity. Like most of Westport, everything here depends on electricity: septic, stove, fridge, water pump, phone etc. So I will be heading out to Lee's Market tomorrow to get some first necessities. We also have an evacuation plan and if things comes to worst we are all are going to the Acoaxet House to ride the storm, which is a relief since I have no basement to hide and even if I had the idea of being there by myself or driving out with high winds and flooding (in an area surrounded by water) with new moon to make the hight tide even higher doesn't entice me much. Granted I have my Kayak and life vest handy just in case.

I'm pretty sure you've watched as many news as I have with survivors of natural disasters, they all mention the same, besides the fact that they are glad to be alive, the one thing that they miss the most are not their big possessions, but pictures, pictures that has captured precious memories and moments of their lives, family and children. For that I am glad that I took the time, a couple of weeks ago, to scan the majority of them and save it online, so my family here, in Brasil and all over the world can share those precious moments with me.

I really hope that Irene just pass us by and follow her path, but just in case I'll follow some of the basic recommendations.Then it will be time to enjoy the Sunset Summer series at Westport Rivers Winery and I might take a trip to East Beach on Saturday and walk around Goosebery Island , if the causeway is open, to check the waves closely and take some pictures as well.

Gates Are Made To Be Opened.

2011-08-25T10:40:00.002-04:00

“Never allow a person to tell you no who doesn’t have the power to say yes.” -Eleanor Roosevelt

Many times in life we ask questions of people and then put way too much weight on their answers.

We ask people we admire if they think we have what it takes, and then consider their opinions fact. We ask people we respect if they think we should take a chance, and then follow their advice as law. We ask people if they’ll take a chance on us, and then interpret their response to be a reflection of our potential.

Other people can’t tell us how far we can go. They can’t tell us how our talents could evolve. They can’t tell us if our risks will pay off. Other people’s “nos” aren’t what limit our future–it’s our own “nos” that do that.

The other day, I read an interview with television producer and former American Idol judge Simon Cowell. He admitted that if Lady Gaga had auditioned for the show, he would have instantly rejected her because of her over-the-top persona. Like him or not, Lady Gaga has emerged as a force to be reckoned within the music industry–a bona fide record-breaking pop icon, who likely isn’t going anywhere any time soon.

Odds are she heard her fair share of “nos,” as does anyone with a dream.

Sometimes we hear “no” before we even get a chance to contact the person we really want to reach. We hear “no” from assistants, and publicists, and agents, and associates, and a number of other gatekeepers. Those “nos” are rarely final since a gate is made to be opened.

We can take all these “nos” and use them as proof that we shouldn’t move forward with our goals. Or we can learn from them, release them, and then keep moving ahead, driven by a deep internal yes that refuses to be ignored.

When you come up against rejection, remember: This does not mean “no.” It just means “not this way.”

Take A Little Time To See The Beauty Around You.

2011-08-24T21:26:00.000-04:00

“The moment one gives close attention to anything, even a blade of grass, it becomes a mysterious, awesome, indescribably magnificent world in itself.” –Henry Miller

It’s funny how on some days there seem to be more signs that life is good–people looking out for each other, positive intentions yielding positive results, nature revealing small pieces of beauty. The truth is that there’s always something good there. It’s just that sometimes we’re not in the right head space to notice and fully appreciate it.

The question isn’t whether or not the world is a wonderful place; it’s whether or not we’ll take the time to experience the world with a sense of wonder.

Whether you’re at work, at home, with people, or alone, make it a point to count the good things. Today is a perfect day to notice all the things to love about life.

What are you made of?

2011-08-24T21:15:00.000-04:00

If you've read my blogs last year you know that 2010 was not the best of my years. Many things have happened. Things that brought me to the ground, yes, I literally mean to the ground, flat, broken, hurt, so powerless for even lift my own head for a long while. My heart was broken into tiny pieces over and over again by differrent people in a period of 6 months. Broken by people I believed were friends; by people I thought would be here for the long haul; broken by the closest of the family I thought I had and by someone I had deep feelings for. I've realized that I'm not as wise as I thought I was. That even at almost 50 I am still a mere student on this process we call life. I realized that I was still making the same mistakes of putting my trust and love into people who didn't know what to do with it. Making them a priority in my life when I was not more than an option in theirs.

I love people, always did. The thought that good ones are, sometimes, around, gives me hope and persistence on keeping on looking and trusting that I'll find them and add to the ones who are already here. For every new person I meet, I give them the benefit of a fresh start; no grudges from previous experiences; no past memories are allowed to taint this new possible kindred soul; they are given a clean blank slate to start fresh; there are no comparisons or expectations of disillusions or disappointments.

Some might say that's where I'm wrong. And I do understand their point. However, I think if I get into a new relationship, either be a friendship or romantic, with a bucket full of past experiences, memories, disappointments and mistakes made by myself and others, I am jeopardizing this new relationship from the beginning. I will be expecting them, and me, to fail. I am not in any moment saying that we shouldn't pay attention to signs and keep past experiences as lessons to be remembered, but assuming we know what is going to happen and to bring those past experiences into a new relationship might be the bigger mistake yet.

Anyhow, with all that has happened, I kept trying to get up, only to have the next person come and smash the pieces I had just put back together right back into the ground, to a point I chose to withdrawn myself from people as a defense. I needed time to heal the pain and put the pieces left back together, let the wound heal and allow me to move forward.

I know it'll never be the same, I can see the scars and the shape of my heart is forever changed. Lost friends and loved ones still can be met and greeted, they are somehow still loved, maybe more for the memories of them than for themselves, but the trust is forever gone.

I am a gardener, a beginner at it, but non or less a gardener. It relaxes my mind and helps me focus on something pleasant. I can feel the energy and power of the dirt between my fingers, the evolution of a simple seed into an exquisite flower always fascinated me. This simple hobby has taught me tales of transformation, caring, possibilities, planning, attention to details and it's something I can dive into with all my passion. If I do all things right I will have, without a doubt, a beautiful garden (or potted flowers in my case). Well on dealing with my flowers I've learned that, in many cases, in order to flourish stronger, a flower has to have few twigs cut, old flowers removed, the soil has to be fertilized and watered - not too much, not too little, with balance - some drastic measures are also required sometimes, such as ripping them from the solid ground, splitting it into parts to allow it to grow stronger, multiply and became even more stronger and more beautiful.

On practicing this little hobby, away from most of the people I knew, in the silence of my little garden, listening to my favorite songs, alone with my thoughts and imerged in a spirit of reflection, I re-discovered myself. Like a morning glory reaches out, stretching for the first rays of sun, I can see my twigs stretching out and reaching out of myself.

As I sit here on the deck, enjoying the birth of yet another brand new day, sipping my coffee, looking over this magnificent ocean that far away meets with the blue skies on the horizon, feeling the sun warming up my body, I see a hawk hovering over the beach, hunting for her breakfast, and I wonder for a second if it's the same one who comes at the end of fall to sit on my deck once in a while, birds singing greeting the world and a gentle breeze - which maybe a preface to fall - coming to murmur "good morning" in my ears.

While my heart is completely submerse in the simplicity of this moment, a quote I've read a while back comes to mind -“A hard fall means a high bounce…if you’re made of the right material.” and I realize that, after all I am made of the right material, and I am bouncing high!

Life's simple now, but oh, so good, and I am ready to start it over.

Have a Happy Wednesday!

Noemi Cardoso 08/24/2011

Home for Sale Swansea - Waterfront

2011-08-24T20:08:00.000-04:00

Home for Sale in Swansea MA - Waterfront

Search all Homes for Sale in Swansea MA

This exquisite home built in 1997 for current owner was thought in every detail. Upon entering the 4,260 sq ft home you can appreciate the owners passion for a modern architecture style.

The living room is open and bright with soaring ceiling, perfectly framed by towering windows to soak up the magnificent water views. A large deck off the living room is perfect for stargazing, enjoying sunny summer days, entertaining or just o be quietly enjoyed.

A well planned gourmet kitchen that offers all the conveniences you can ask for - water views for starters along with large island, granite counter, stainless steel appliances, sub zero fridge and freezer, thermador gas stove, food warmer, customized cabinets with reinforced drawers to handle the weight of cast iron pans and much more makes this a great place to enjoy family gathering in the kitchen during holidays and any other day of the year.

A library and a TV room along w 1.5 bathrooms, laundry and a walking pantry completes the first floor.

A welcoming foyer which is offers open views of the water is perfect for a relaxing reading before bed time welcomes you to the second floor which offers Large private master suite w/ cathedral ceilings, dressing room, master bath, walking closet.

Private path to a 350 feet leads you to an untouched waterfront ideal to launch your kayak.

Professional landscape, 4 acres of land, 2 car garage and located at the end of a cul-de-sac.

This is THE HOME you have been looking for. Call me now at 508-558-1945 for a private showing. Please allow at least 24 hours notice.

More information about Swansea MA

Click on the link to learn how to receive daily updates with all Homes for Sale in Swansea MA

Swansea MA Real Estate Market Overview - August 2011

Home for Sale in Westport

2011-08-24T20:05:00.000-04:00

Home for Sale in Westport - MA

Search all Homes for Sale in Westport MA

Large colonial home, built in 2005. This lovely home offers lots of amenities such as solid counters, family room w/ cathedral ceiling and gas fireplace, formal living and dining room, open floor kitchen with island and stainless steel appliances, deck, front to back master suite with dual sinks, cathedral ceilings and walk in closet, 2 car garage, fenced in yard. Full unfinished basement with full windows and access to the yard ready for you to finished. Located at the end of a newer development off of Route 177, it offers easy access to Rts 88, 195, 79 and 177.

Learn more about Westport MA

Click on the link to learn hwt to receive daily updates with all Homes For Sale In Westport MA

Real Estate Market Report for Westport MA - August 2011

Home for Sale in Fall River MA

2011-08-24T19:50:00.000-04:00

Search all Homes for Sale in Fall River MA

Experience what life has to offer from this Contemporary home on South Watuppa. 3168 sq ft of living space offers plenty of room for the whole family. Soaring ceilings with skylights and open floor plan on main level, wall to wall windows to enjoy the views. Large wrap around deck, 3 season area our off the kitchen, in ground heated pool, separate guest quarters on top of the 2 car heated garage ideal for grown ups of parents, finished lower level with 2 bonus rooms (den/guest room), full bathroom, family room and mini kitchen perfect for entertaining. For more details and pictures direct to your phone TEXT EVO2039 to 32075.

Happening in Westport.

2011-08-24T19:47:00.000-04:00

There's always something special happening at Westport Rivers Winery and summer is not an exception. The return of the very popular Sunset Music, is guaranteed to bring a splash of color to your summer. And at 25 years old, they're celebrating with a special Summer to Celebrate series of intimate tastings and guest chefs.

Friday evenings from 6pm to 8pm you're welcome to trip on over to the farm located at 417 Hixbridge Rd, Westport MA, for some great tunes and wonderful views.The first of the series is on June 24th and tehy'll be wrapping things up on September 3.

It's a picnic style event, so either pack in your own food or buy some dinner from Wayne Gibson's,South Coast Local (who will be serving up a variety of BBQ, from pulled pork sandwiches to hot dogs for the kids). Don't forget a blanket, chairs, bug spray, glasses or a cork screw. Speaking of which, NO OUTSIDE ALCHOHOL is permitted. They offer plenty of their own farm-raised wine and beer for your adult beverage enjoyment.

$5/carload. Weather permitting. Beer, wine and SoCo Local food are served for a fee.

Schedule for August and September
8/19 McCarthy, Richards & Legge
8/26 Neal McCarthy and Michael Lavoie
9/3 Josh Pereira
For more information on the Winery as well in all of their events click here

Top Credit Dos and Don’ts During the Loan Process

2010-08-11T11:09:00.001-04:00

Many are taking advantage of interest rates at historic lows, either by re-structuring debt with a refinance or purchasing a new home. However, the recent economic crisis has created even tougher guidelines and credit requirements and there are some things that consumers must be aware of when applying for a loan.

- DO continue making your mortgage or rent payments - DO stay current on all existing accounts
- DO keep working at your current employer
- DO keep your same insurance company
- DO call us if you have any questions
- DON’T make a major purchase (cars, boats, jewelry, appliances, etc.)
- DON’T apply for new credit (even if you see “pre-approved”)
- DON’T open a new credit card
- DON’T transfer any balances from once account to another
- DON’T pay off charge offs or collections without a discussion with your lender first
- DON’T buy any furniture on credit
- DON’T close any credit card accounts
- DON’T change bank accounts
- DON’T max out or over charge on your credit card accounts
- DON’T consolidate your debt onto 1 or 2 credit cards
- DON’T take out a new loan
- DON’T finance any elective medical procedures
- DON’T payoff any loans or credit cards without discussing it with your lender first.
- DON'T loose contact with you mortgage broker and your real estate agent.
There are any number of things that could make your “pre-approved” mortgage become a “denied” mortgage. Don’t let this happen to you!

Purchasing a New Home.

2010-08-11T10:47:00.004-04:00

Step 1: Get Your Finances in Order

Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you. If you haven't looked at your credit reports, you might be surprised at their contents, because errors are common.

Step 2: Get Familiar with the Mortgage Industry

Finding the right loan is crucial to your home buying success. We. can help you understand what is available to suit your needs. Their help and expertise will help you make an informed decision and they will guide you throughout the entire process.

Step 3: Get Pre-Approved for a Mortgage

Do you know how much house you can afford? Probably not ! Our Pre-approval gives you that competitive edge over other house hunters. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from us that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?

Step 4: Determine Your Wants and Needs

Buying a home isn't as difficult as you might think, even if you're short on funds, but the process will go a lot smoother if you let us help you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses.

Step 5: Learn to Work with Real Estate Agents

Real estate agents represent buyers, sellers, or both--and in some states they can work as neutral facilitators for either party. It's essential to understand agent duties and loyalties before you make that first phone call.

Take Advantage of the Homebuyer Tax Credit Extension Before April 30, 2010

2009-12-09T15:04:00.002-05:00

Click on the link below for more information. http://members.remax-newengland.com/Documents/taxcreditsellsheet.pdf

Being Sucessfull

2009-12-09T11:53:00.002-05:00

I believe that many Realtors like myself have great ideas on how to make their business better, improve their income and quality of life (time with family and friends) however we get so involved on the day-to-day activity that we leave those ideas on the back burner because they require 'valuable time' that we think we don't have... One thing that I am learning (I am still kind of new on this real estate thing) is that going to seminars or listening to success histories helps to keep you in touch with those ideas. To hear that the big producers actually take that 'valuable time' to put their ideas in practice have a better performance and life that the rest of us....they pretty much work smarter than harder. Many times is painful to figure that some of these ideas doesn't cost anything (of course all of us are worried about savings in these days) however some of those ideas are very simple such ask for business, pop-bys to past clients, the internet offers so many ways to market for free so use it...prospecting our own database (my biggest weakness is this one), the simple fact of wearing a name tag on the local market, being proud of who and what we are and being confident that we can offer a great service to our clients. So what do they have that we don't? What is making the rest of us not to achieve the same level of performance? Lack of discipline, lack of faith on ourselves, lack of vision and then goals to meet those visions, self drive, courage to ask and be sucessfull? It is so easy to blame on the market, on the banks, the buyers, the sellers.... on the alignment of the moon......but at the end of the day I believe it is our own fault.... We have to focus on our vision (and big ones for that matter) and then have a strategy plan on what to do to achieve those visions, how to plan the day, month, year to reach to that magic vision at the end of the road...remeber EVERYTHING IS POSSIBLE TO THOSE WHO DARE TO DREAM..... Buddying up with a friend/coach/colleague to hold you accountable for doing the daily chores to meet your goals is a good way to start. If you have the resources hire a professional coach, surrounding ourselves with positive people...have brainstorming sessions with colleagues, reserve time to yourself and your family....all is a balance to make a perfect day....and never forget to give back....the most fortunate people on the planet give a lot of their time or money back to good causes....holding to our fortune makes us hostage of it.... I am exercising on it....short term goals that will bring me to the long term vision....some of them simple enough to be tangible and easy to be checked off of my list but that I have been postponing for 6 months (such as getting a rack to move my kayak around)...I can give you 1000 excuses why I didn't do it but the bottom line is lack of organization on my part....even tough kaykaing is one of my passions.... I though about sharing these thoughts with my colleagues because I believe we all can use a good wake-up call once in a while. I believe that many like myself... get entangled on the web of making a buck and forget the big picture.... Thank you for yout time. Feedbacks are apprectiated.

Hold Swansea's salt

2007-12-17T20:06:00.001-05:00

Editorial: Hold Swansea's salt

08:30 AM EST on Thursday, November 29, 2007

Swansea is building a $15 million desalinization plant to produce drinking water from the Palmer River. It will be the first such facility owned and operated by a municipality in the Northeast. Meanwhile, a private desalinization plant in North Dighton will provide as much as a fifth of Brockton’s water supply. This is good news!

Swansea has had three water emergencies in the past eight years, caused by dry spells and development. The latter has increased water use and added roads and parking lots, from which more water runs off these days — rather than being retained as groundwater.

We do, after all, have an unlimited supply of water around here, albeit with the inconvenience of salt in it. But the engineering to remove it is getting better. Of course, Swansea’s plant will require energy to run. How about a windmill or two to do the trick instead of oil, gas or coal? Water and wind — two natural resources we do have around here.

Even in a buyer's market, house hunters need a plan to avoid mistakes

2007-12-17T19:36:00.001-05:00

By Linda Stern

November 9, 2007

Mortgage rates are down. House prices are down. Fed chairman Ben Bernanke is waxing eloquent about the prolonged deep housing slump. Sounds like a good time to go house shopping!

"This is a great time if you're a buyer," says Joe Fox, who operates real estate websites aimed at sellers and buyers. "You completely low-ball it."

Panicky builders are giving "incentives" on new houses that can run into the tens of thousands of dollars in kitchen upgrades or furnishings like flat-screen televisions. Motivated sellers are chipping in closing costs and dropping prices.

"It's an amazing market," says Jason Salzenstein, a publications director who has been house shopping in Boston. "We're looking at places that we looked at two years ago, and they are $200,000 less now than they were then."

Salzenstein is taking his own sweet time to make sure he does his house hunt right. That means he's waiting for the right house at the right price, and he's using new market tools to secure a competitive and safe mortgage.

Even in a buyers' market, buyers can make expensive mistakes. But there are some new tools and techniques that can help ensure you make a good deal. Here are some ways to go about your search:

Know your market

Picking up a bargain in a solid real estate market like Boston's is one thing; buying cheap in a market where the economy is ailing is quite another.

Overbuilt condominiums still might have farther to fall, as might home prices in some slumping Rust Belt cities like Rochester, N.Y., and Cleveland. Those newly developed exurbs - expensive tanks of gas away from metropolitan areas - might still be a risky buy. One place to pick up deals, especially in the fall, is in summer beach resorts from New England down to North Carolina, where buyers may not want to wait until spring to unload their properties.

Squeeze your real estate agent

Sellers' agents are suffering right now, and are doing everything from painting bedrooms to cutting commissions in order to help move their listings. But buyers' agents have it easy; there's an abundance of homes on the market.

If you're willing to do a lot of the legwork yourself - looking at open houses, searching multiple listings (at realtor.com) and the like - why not look for a reduction in the 2.75 percent to 3 percent your broker is likely to take on the deal?

Joe Fox's company, Buysiderealty.com, is currentlyrebating 75 percent of its commissions to buying customers. This is not full service; you have to find the house. But if you've done that, you can save. So far, the site's biggest kickback was $78,000 to a customer who bought a $4 million home; its smallest was $3,800.

Find the right mortgage

Some online mortgage websites claim to weigh competing offers, but they're often only weighing offers that will pay them the most. And even under the eye of regulators and others unhappy with their industry, mortgage bankers still have a way of burying details in documents you can't understand, or don't get in time to make good competitive decisions.

OfferAngel.com, offers a way to comparison shop whatever mortgages you can find on your own. The site sends a questionnaire to your banks or mortgage broker, and then presents a report to you that lists all terms and conditions of the mortgages you're considering. You'll be able to compare adjustment terms of variable mortgages, closing-cost estimates, and any hidden fees.

It costs $20 for a detailed report, though you can get a simple comparison for free.

If you're borrowing a lot of money and expect to keep the mortgage for a long time, you might want to go even further, spending $295 at loantech.com and letting a professional audit your mortgage.

Sooner or later, the housing slump will end and real estate prices will rise. It would be nice to own a place before then.

Linda Stern is a freelance writer. She can be reached at lindastern@aol.com.
© Copyright 2007 Globe Newspaper Company.

Is Your Mortgage In Default? How Late Can You make payments

2007-12-16T11:32:00.001-05:00

By Mortgage Foreclosure Solutions | August 7, 2007

Article by: Mortgage Foreclosure Solutions

What you need to know about the foreclosure process. Learn what your rights are. How past due on mortgage payments can you be?

In a nutshell here is what happens in a foreclosure:

* You are behind in your payments to the mortgage company.

* Your home is security for the loan, so they want their money or your home.

* The mortgage company goes through the legal system in your state to gain possession(foreclosure) of your home.

* When the legal process is complete you are forced to leave your home behind.

The above is a little over simplified, so lets get into more detail.

Your are behind in your mortgage payments. Your dream of home ownership has begun to fade. Because of some hardship that has left you without sufficient funds to make your payments you will soon lose hearth and home.

When you are about 60 days behind, the lender will file a complaint with the court system in the county where you live. The complaint will include a copy of the mortgage and a statement that payments are not being made.

You will be sent a copy of the complaint with a notice that you can demand a hearing. (You would want a hearing if for some reason the debt claimed is incorrect. Another reason might be to delay the foreclosure process.) If you really owe the money on the security of your home, then the motion started by the complaint will eventually be granted.

After you have received the complaint notice, the court will grant the lender the right to proceed with the foreclosure.

The lender must then publish a notice of foreclosure in local newspapers stating their intention to repossess your house. After 3 to 4 weeks of notices a Sheriff’s sale will be held.

If you have not paid the back payments plus penalties before the sale, then your home will be sold to the highest bidder. At this point you, your family and all your possesions must leave your home, either voluntarily or involuntarily.

This whole process can happen as fast as 2 months or as slow as 10 months, depending on such variables as who the lender is and which state you live in.

Here is the unfair part. Let’s say you are behind 3 months on your mortgage. You are starting to have some good things happen. You find you have the 3 months of back payments to give to the lender. You go the lenders office and make the payments. You walk away feeling happy that you are now caught up with your mortgage. Next week you discover that the lender is proceeding with the foreclosure. What gives? Simple. The lender has charged late fees and penalties that can amount to as much as another monthly payment. You must negotiate with the lender before you make payment. Often you can get them to forgive the penalties. However, you must do it before payment, so you have some leverage.

It is important to realize that you can get your loan reinstated. The requirements are that you have recovered from the events that caused you be get behind. If you are now able to make the payments, but aren’t able to make up the back payments, then you need to negotiate with the mortgage company. There are several approaches to deal with the missed payments and penalties. If you are unsure of how to proceed, then you must get help. You must stop the mortgage foreclosure if there is a way out.

Stop Mortgage Foreclosure And Keep Your Home - Mortgage Foreclosure Solutions

2007-12-16T11:30:00.000-05:00

By Mortgage Foreclosure Solutions | August 7, 2007

Your money crisis is over! Your income has returned to its former level.

Now another crisis has reared its ugly head. Although you are now able to make your mortgage payments, the bank has other ideas. They want the two delinquent payments that you are behind, plus late fees and penalties or they will proceed with a foreclosure on your home. You can’t come up with nearly four times your monthly payment to reinstate your loan. Are you doomed to walk away from your home with a foreclosure on your record? A foreclosure on your record could prevent you from buying a home for a long time.

How To Avoid Foreclosure

The goal is to keep your home. That means that you must either find the money to pay the bank the arrear age or negotiate with the bank for a deal that will satisfy their requirements without you having to pay everything up front.

The following are some possibilities for finding the money:

1. Credit card loan

2. Loan from relatives

3. Refinance your home

4. Get a second mortgage

5. Sell a car or other property

6. If you really want to keep you home and has the financial means for it (without the past due amounts) consider borrowing against your 401(k) to bring your mortgage up to date.

If none of the above money alternatives work, then you need to negotiate with the bank or mortgage company. If you are reluctant to try negotiating with the lender, then there are professional organizations that can do it for you. Following are some possible outcome from a competent negotiation:

1. The opportunity to payoff your arrearage on a monthly payment plan.

2. The lender may forgive some or all of the penalties

3. The lender may addithe arrearage on to the principal of the loan.

Keys To A Successful Negotiation

The lender is going to look for certain keys to determine if they want to negotiate or not.

The first key is whether your income is now sufficient for you to make the payments. If it isn’t then your best alternative is to find someone to buy your home(even at a discount), so that you won’t have a foreclosure on your record.

The second key is that your record shows that you are normally reliable. That means that your payments are usually on time. Timely payments generally correlates with your credit score. This key is not as important as the first one, but it is important nevertheless.

As you approach the lender to negotiate, you must have a friendly and positive, but firm attitude. You must keep your goal of saving your home at the top of your mind to overcome any fears that you might have. Make sure that you research which department of the lender that can make a decision concerning your loan.

Summary

Your home is your castle. It provides safety and security as well as shelter. It is worth a lot of hassle to stop a foreclosure and keep your home.

Central bank will propose rules on Tuesday to protect mortgage borrowers from banks and brokers.

2007-12-16T10:43:00.000-05:00

December 15 2007: 12:08 PM EST

WASHINGTON (AP) -- People taking out home mortgages may gain new protections soon against shady lending practices as the Federal Reserve seeks to back even the riskiest borrowers, already hit hardest by the housing and credit crunches.

Rules expected to be proposed Tuesday would apply to loans made by all types of lenders, including banks and brokers. The plan from the Fed, which has regulatory powers over the nation's financial system, could be finalized next year. The effective date would be know then.

The Fed is considering:

--barring lenders from penalizing subprime borrowers - those with spotty credit or low incomes - who pay their loans off early.

--forcing lenders to make sure that borrowers, especially subprime borrowers, set aside money to pay for taxes and insurance.

--restricting loans that do not require proof of a borrower's income.

--examining lenders' failure, in some cases, to consider a borrower's ability to repay a home loan.

--improving financial disclosure so people better understand the terms and conditions of their mortgages and get this information when it is most useful.

--curtailing abuses in mortgage advertising.

Click here to read more

It's Getting Easier to Be Green

2007-12-10T16:52:00.000-05:00

Environmentally conscious travelers now have a wide-ranging choice of luxurious resorts, where they can kick back and relax with a clean conscience (tree-hugging optional).

By Sarah Miller, Sherman's Travel Magazine

It's hard to pinpoint the exact moment when ecotravel became mainstream, but as global warming and the dwindling of fossil fuels have become crucial issues, travelers have turned more and more to environmentally conscious options when planning their vacations. It's no surprise, then, that hotels, airlines, and pretty much everybody else in the travel business have been rushing to declare themselves "green." Plenty of luxury properties call themselves green just for asking guests to take it easy on the towel turnover, but Katie Maschman, of the International Ecotourism Society, a nonprofit group promoting sustainable travel, explains, "The "eco" in ecolodge doesn't just stand for ecology. To be considered an ecolodge, a place must be beneficial to the environment and the local community and economy."

Click here to read more

Green Outlook

2007-12-07T17:54:00.000-05:00

EcoBroker Green Outlook Spring 2007:

Industry Forecast In this sound bite society with bumper sticker philosophy, we often adopt a simple word such as “green” to abbreviate a complex concept. The danger is that we then begin to believe that the concept itself is simple, and in many ways the core elements are elegantly simple. “Green” is usually used as a proxy for environmental consciousness, but there are many shades of green and at times the term gets mixed up with the more extreme elements of the environmental movement. As real estate professionals attempt to deal with environmental consciousness, it is important to have a clear grasp on both the facts and the perceptions of green in the real estate market and in society as a whole. Buyers are increasingly aware that they can help “make a difference” and improve the planet we share. They just never thought of asking a real estate professional about how to do it. But in today’s market, that is changing.

The October 2005 Realtor^® Magazine described green homes and features as “…a business opportunity that you can take mainstream”. Author Christina Hoffmann Spira also commented, “… green homes aren’t just for the Birkenstock cohort.” A number of real professional real estate organizations are now beating the green drum. The press has been reporting energy shortages and increasing prices for years, but the prices have really caught the attention of the public this winter. Who can doubt that the green market is here and relevant? The green market is clearly a market trend and represents a great opportunity for those real estate professionals who are properly educated in “green.” Properly educated professionals have the opportunity to build business while also benefiting their buyers and sellers, and the planet. Green Humor...

Sustainability takes root.

2007-12-02T19:02:00.000-05:00

What’s New on the Green Scene
Consumers’ interest in being green has never been so high.
BY BARBARA BALLINGER

The latest environmentally friendly home features aren’t just good for the planet — they look great and are a huge draw for conscientious buyers, too.

From energy-efficient light bulbs to solar-paneled roofs, consumers have gravitated to the idea that they can help the earth by making smarter purchases and lifestyle decisions, even if it’s not always cheap or easy. Many of these changes are happening in their homes, thanks also to manufacturers, builders, and architects who are encouraging green products.

What’s Made Us So Green? “Interest in being green has moved across the country — it’s no longer just for wacky Californians,” says Matt Golden, who founded Sustainable Spaces Inc. in San Francisco three years ago. The company performs environmental audits on homes, which tests for energy efficiency, indoor air quality, and other factors.

There are plenty of reasons why focusing on the environment has become so popular lately. Some people thank Al Gore’s documentary An Inconvenient Truth. Others point to a growing body of green building standards, advocated by groups such as the National Association of Home Builders and the U.S. Green Building Council. Another factor, of course, is rising energy prices, which has forced Americans to rethink everyday habits and purchases.

Experts say one thing’s clear: The trend isn’t limited to one age group, demographic, or geographic area.

“Empty-nester clients like the low energy efficiency, and younger couples gravitate because of environmental concerns and the healthier indoor air quality,” says St. Louis builder Matt Belcher, chairman of his local Home Builders Association’s Green Building Council.

Why Blogging is Changing Real Estate

2007-11-30T13:16:00.000-05:00

Next to email, people are turning to blogging as the fastest growing means of expressing opinions and finding answers to their questions on the Internet, especially when it comes to the subject of real estate and relocation. Blogging allows consumers, residents and real estate professionals to exchange information in new dynamic ways where everyone can talk about a topic of importance together. This is known as transparency and it is changing the way the real estate industry communicates with consumers.

Top 10 metro home-value gainers for 2006

2007-11-29T19:24:00.000-05:00

By Bankrate • Bankrate.com

Bubble burst? What bubble burst? The danger in talking about local situations as if they applied across the board is that real estate is always a local situation and what's a bubble bursting in one area can be a time someone else's balloon is expanding rapidly.

Take a look at these metro areas that were the biggest value gainers in 2006, according the National Association of Realtors.

2006 biggest value gainers

Rank	Metropolitan statistical area	One-year appreciation (%)
1	Salem, Ore.	19.8
2	Virginia Beach-Norfolk-Newport News, Va.-N.C.	19.4
3	Spokane, Wash.	17.7
4	Salt Lake City, Utah	16.7
5	Eugene-Springfield, Ore.	16.7
6	Baton Rouge, La.	15.9
7	Gainesville, Fla.	15.9
8	Ocala, Fla.	15.5
9	Dover, Del.	14.7
10	Portland-Vancouver-Beaverton, Ore.-Wash.	14.7

Source: National Association of Realtors, February 2007 Metropolitan Area Existing-Home Prices and State Existing-Home Sales report

-- Posted: March 8, 2007

How to sell in a buyer's market

2007-11-29T19:04:00.000-05:00

You've got to be proactive on price, marketing and more. MSN Today has 10 steps to take before you plant the "for sale" sign. By Dana Dratch, Bankrate.com If you're selling your home this year, be prepared for a marathon, not a sprint. In most places, those heady days of putting a property on the market, receiving multiple bids, getting more than you expected, and accepting an offer in just days or weeks are over. Now, for most houses in most parts of the country, it's a buyer's market. That means that more houses are for sale, there are longer stretches on the market, and prices have slowed, plateaued or, in some places, decreased. For more information go to: http://realestate.msn.com/selling/Article_bankrate.aspx?cp-documentid=5255869&GT1=10632

Early Detection Reminder

2007-11-28T11:00:00.000-05:00

This is your Monthly Early Detection Reminder from the RE/MAX. Below you will find tips on early breast cancer detection.

Just as your period ends (or at the same time each month if you do not have periods), check for any change in the normal look or feel of your breasts. Reports any changes to your doctor or nurse. Go for regular breast exams and ask about a mammogram.

Step One: Lying DownFeel for a hard lump, thickening or any change in your breast tissue.

Lie down on your back with a pillow under your right shoulder
Use the pads of the three middle fingers on your left hand to examine your right breast
Press using light, medium and firm pressure in a circular motion
Follow an up and down pattern
Feel for changes in your breast, above and below your collarbone and in your armpit area.
Repeat on your left breast

These steps may be repeated while bathing or showering using soapy hands.

Step Two: In Front of the Mirror

Look for changes in the shape, size or appearance of your breasts. Look for dimpling, rash, or puckering of the skin or nipple, nipple discharge or any change from normal. Inspect your breast in four steps:

Holding arms at sides
Holding arms overhead
Pressing hands on hips to tighten chest muscles
Bending forward with hands on hips

For more information please visit : http://ww5.komen.org/home/

____________________________________________________

Working together!

2007-11-27T19:08:00.000-05:00

(by Noemi Cardoso)

Every day when I speak with my existing or new clients I hear pretty much the same questions from buyers and sellers:

Buyers: How can I buy the most for less...
Sellers: How can I get the most for my home...

As you can see everybody is looking for a good deal one way or another.
For Buyers the high number of foreclosures can be a good deal but it requires patient and research since foreclosures and short sales are pretty much 'sold as is' condition and there are not much information or disclosures on the house. A good home inspection is advised but remember that many of those homes are winterized (not utilities). Buyers have sometimes the option to reconnect the utilities prior to the Inspection but he (Buyer) will be responsible for the cost of reconnection and winterizing the property again.

Many homes, due to the conditions will require a Rehab loan and at this time to have a good mortgage broker working with you is your best bet.

When it comes to a short sale patient is even more required....some offers can take up to 180 days to have an answer from the banks or mortgage companies....for example: I have an offer on the table for 107 days (as of today) waiting for an answer.

Don't discard the option of looking into regular sales since many owners are dropping prices to sell and you can also find good buys there with less problems.

Last but not least... some properties will be sold above asking price and a bidding situation may arise if the home in question is a good buy.

Now for mine and other sellers out there. These same foreclosures and the immense inventory are driving the prices down and even though homes are still selling they have to be priced right. A reliable Real Estate Agent and an accurate Market Analysis can be a great help. Also pay attention on what the market within your immediate neighborhood (no more than one mile). Remember compare apples with apples.

Another great and reliable option is to have a professional appraiser to assess the value of your home. Many homes are selling right around or below assessed value.

Also consider making your home charming and inviting...remember the first impression can make or break a deal....remove clutter (a storage might be good idea), a good cleaning specially on bathrooms and kitchens, a professional carpet wash and always clean, nice and clean landscaping, fresh air can make wonders and make sure all your utilities are in perfect condition. If you can afford there are professional out there that can come and show you how to stage your home for a great first impression...

Work with your agent. Remember that his/her interest it is also to sell your property...there are no commission checks until your have the check...

If you have any topic or question that you would like to discuss please fell free to add.

How to escape a mortgage mess

2007-11-27T19:02:00.000-05:00

If payments on your adjustable-rate mortgage are about to go up, act now. Plus, tips for mortgage shoppers. (By Mark Trumbull, The Christian Science Monitor)

Stress in the nation's mortgage industry is putting a financial squeeze on home buyers and homeowners alike.

Buyers are finding it harder to obtain home loans as lenders tighten their credit standards or even go out of business.

Homeowners with adjustable-rate mortgages (ARMs) face a double whammy. House prices are falling even as their monthly home payments adjust upward in a big way. So when ARMs reset, many may find they can neither make their payments nor sell the house for enough money to cover the loan.

With October identified as a peak month for such scheduled resets, can this group of homeowners escape from this mortgage mess?

Perhaps.

Today's credit environment certainly isn't as easy as it was a few years ago, when lenders often made loans that put themselves and home buyers at higher risk. Back then, as home prices rose, so did the popularity of loans with "teaser" interest rates that lasted only a couple of years. Subprime lending soared as lenders issued riskier loans, ignoring the elevated danger of default.

Now homeowners faced with the prospect of home loans resetting sharply higher are seeking solutions. Often what's needed is patience, persistence and a willingness to seek help.

Consider the recent experience of one Germantown, Md., couple who nearly lost their home. Vaughn and Candice bought a large brick-front colonial five years ago. A couple of years later, they refinanced their mortgage, allowing them to tap their home's equity to help pay college bills for two of their children. Their monthly mortgage payment was $4,000 a month. Everything seemed to be going well.

"We were fine," says Vaughn, who asked that his family's last name not be used in this story to protect their financial privacy.

But suddenly, a cosmetics business they ran began to dry up after one of the major stores at the mall where they operated shut down. They plowed their own savings into the business to try to keep it going. Despite Candice's income as a full-time engineer, they soon fell behind on their house payments. Vaughn's efforts to renegotiate with the loan company resulted only in an offer that he couldn't meet: $20,000 in cash by July.

The last straw: The interest on their ARM was poised to reset from 6.7 percent to about 9 percent as of that month.

By May, Vaughn was desperate, believing that a foreclosure notice could come any week. "I was asking God to show me the way," he says.

Through a news article, he learned about a nonprofit organization in Chicago that had partnerships with several loan-service companies, including his own, to help prevent foreclosures.

He contacted the group, the National Training and Information Center (NTIC), which cut a deal with the lender. Vaughn and Candice won a loan modification that shifts them from an adjustable to a fixed-rate loan. They'll owe $4,200 a month, but that should work for them now that they've closed the money-losing cosmetics business. The deal also helps their creditor avoid the costs of foreclosing and selling the house.

Not every strapped homeowner has such good fortune. But the financial rescue of this Maryland couple can happen for others, too. "I'm living proof," Vaughn says.

Housing experts say people faced with possible foreclosure, or a big upward reset in what they owe on an ARM, might consider this advice:

Know the value of your home. Selling probably isn't your first choice, but it's important to know whether the house could be sold for enough to pay off the loan, plus closing costs. Ask a real-estate agent for a free estimate, while mentioning that you have no immediate plans to put the house on the market. Also check out Zillow.com, an online real-estate information Web site that provides home-value estimates.

Consider refinancing. If your credit is poor, refinancing may not be possible or will carry big fees, but if a deal sounds good, get an estimate in writing. You can consider whether the offer is worthwhile by using an online calculator such as Financial Calculators (look under "Home & Mortgage").

Talk to your lender. Troubled homeowners may want to run and hide, and lenders may seem unresponsive, but "the longer you wait, the fewer options you have for a workout," says Ren Essene of Harvard University's Joint Center for Housing Studies. Keep records of when you called and whom you talked to.

Seek a loan-modification deal. If you're heading into default, ask to speak with someone in your mortgage lender's "loss mitigation" department. This individual generally has the authority to set new terms for your loan to avoid foreclosure. "Lenders will often ask for good-faith money toward a modification," so hoard cash if you can, says Michele Rodriguez Taylor of NTIC.

Get help. Some nonprofit groups can serve as a go-between with the lender or can offer advice about your options. A nationwide HOPE Hotline (888-995-4673), run by the Homeownership Preservation Foundation, offers counseling. Through the group Neighborworks, it provides referrals to local organizations that can act on your behalf. Some states have set up rescue funds for homeowners. The federal Department of Housing and Urban Development offers links to community groups, among other aids, on its Web site.

Beware of "rescue" scams. If someone calls out of the blue and offers to repay your loan if you sign the deed to them or asks for lots of money to help you stay in your home, hang up.

Selling may be best. "Consumers will do everything to keep their home, even if it's irrational," Essene says. Some refinance multiple times, draining their equity in the home, and still can't afford to keep it. They would have been better off selling sooner, she says.

Choose the lesser of evils. Foreclosure is generally the worst outcome for homeowners, blackening their creditworthiness for years to come. For families on the brink, some alternatives include a "deed in lieu of foreclosure" transfer of ownership to the lender. In other cases, the lender may let you sell the home for a value that won't fully pay off the loan.

Amid these troubles, it's important to keep the challenge in perspective. The current housing market, financial experts say, is tough for just about everyone.

"It's become tighter across the board" for borrowers, says Celia Chen, who tracks housing issues at Moody's Economy.com in West Chester, Pa. "There are few subprime loans being written. [But] for someone who has built up equity and is a prime borrower, they'll still be able to refinance."

Tips for mortgage shoppers

If you’re looking to buy a home, loans are available -- but new terms and conditions apply. Down payments are in. Mortgage approvals without documentation are out. Despite the downward spiral of lenders who financed high-risk borrowers, prime "conforming" loans (less than $417,000) still are available, says Holden Lewis, a senior reporter at Bankrate.com, which tracks credit markets. But jumbo loans (more than $417,000) now carry higher interest rates than they did a month ago, he says, and lenders require down payments of 5 percent or more.

Financial experts offer this advice:

• Educate yourself. Community-action groups often provide free buyer-education seminars. Visit Web sites of government housing agencies, especially http://www.hud.gov/, for guidance.

• Patch up any credit problems. For people with credit scores below 620, "there are very few options," says Chen.

• Shop around. This is especially true now. If an online mortgage lender can’t help you, maybe your local bank can.

• Think realistically. With home prices under downward pressure, don’t count on rising values to outpace your interest costs.

For more information please visit: http://realestate.msn.com/buying/advice.aspx

Lost your home? You may owe IRS

2007-11-27T18:56:00.000-05:00

Even if you received no money from a foreclosure sale, you may have to pay capital-gains taxes on the phantom income. And that's not all. (By Kay Bell, Bankrate.com)

More from Bankrate.com

If you thought a foreclosure ended the financial miseries associated with your former home, think again. You soon could be hearing from the IRS about taxes due in connection with the residence you no longer own.

"You can walk away from the big house payment, but not from the potential tax implications," says John W. Roth, senior tax analyst at CCH in Riverwoods, Ill. "And if you couldn't afford the mortgage, you probably can't afford the taxes."

As the lending crisis continues to shake out, more homeowners, particularly those who used creative mortgages to buy their houses, could be in this predicament. Even longtime

homeowners who refinanced their properties based on increased value when the real-estate market was hot could find themselves in tax trouble if they lose their properties to the bank.

Forgiven but not forgotten

In many cases, the tax problem associated with a foreclosure arises from a seemingly benevolent move: The lender forgives some of the loan. This happens when a lender and a borrower negotiate a reduction in loan amount. Or when the lender forecloses on the property and sells it for less than the outstanding mortgage.

In both instances, the difference for which the borrower is no longer responsible is considered cancellation-of-debt, or COD, income. It also is called discharge-of-indebtedness income or discharge of debt. Regardless of the name, under the tax code, it's all taxable income. The tax on COD is calculated at ordinary rates, which range from 10% to 35% and depend upon your income.

"People who advise you to walk away talk about payment consequences, not the tax consequences," says Frederick M. Stein, RIA senior analyst from Thomson Tax & Accounting. "If they owe $50,000 and $10,000 is forgiven, they think of it as a gift. It may be a gift from the lender, but not from the IRS."

More on MSN

How much and what type of tax the IRS expects after a foreclosure depends in large part on whether the loan is "recourse" or "nonrecourse."

With a recourse loan, the debtor is personally liable for the debt. In a foreclosure, if proceeds from the home sale don't cover the outstanding mortgage, the debtor must pay the difference. This includes interest that accrues during the foreclosure process.

Nonrecourse debt is secured by the loan collateral. If money from the sale of the property doesn't cover the outstanding debt, the lender has no legal ability to get the additional funds from the debtor.

A sale is a sale is a sale

But with either type of loan, a foreclosed-upon homeowner could end up owing capital-gains taxes without ever receiving any money from the foreclosure sale.

"Foreclosure is not a sale in normal terms, but it is still treated under tax code as a sale," says Stephen Trenholm, CPA, MST (master's degree in taxation) and tax manager at Rucci Bardaro & Barrett in Boston.

"The outstanding balance of the mortgage is compared to the basis in house. If that produces a gain, it's a taxable gain. If it's a nonrecourse mortgage, it's a capital gain."

That's right: Even though you aren't selling the house and the bank is, the IRS views the transaction as if you were the seller. That means you could owe taxes on the sale. The bad news comes directly from the IRS, via Publication 544:

"If you do not make payments you owe on a loan secured by property, the lender may foreclose on the loan or repossess the property. The foreclosure or repossession is treated as a sale or exchange from which you may realize gain or loss. This is true even if you voluntarily return the property to the lender. ... You figure and report gain or loss from a foreclosure or repossession in the same way as gain or loss from a sale or exchange. The gain or loss is the difference between your adjusted basis in the transferred property and the amount realized."

The calculations take into consideration any cancellation-of-debt income and the type of mortgage. Here's an example:

Let's say a homeowner has nonrecourse mortgage debt of $110,000 and $20,000 equity, or "adjusted basis," in the home, which has a fair market value of $100,000. The owner has no ordinary tax liability for that $10,000 difference between his debt and the home's value. But what about the $90,000 difference between the mortgage debt and his basis in the house ($110,000 less $20,000)?

That is seen as taxable capital gain from the "sale or other disposition" of the home. So even though the foreclosed-upon owner didn't get any cash from the transaction, he still owes taxes on what is known as phantom income. The only good news is that the taxes are collected at the lower 15% (or 5% for lower-income taxpayers) capital-gains rate.

If that same homeowner's mortgage was recourse debt and his lender forgave the $10,000 difference between the outstanding loan and the home's fair market value, the foreclosed-upon owner would owe ordinary taxes on the 10 grand. In addition, his capital-gains bill would be based on $80,000 -- the property's fair market value of $100,000 less his $20,000 adjusted basis.

For some struggling homeowners, the taxes on forgiven debt or phantom income are all too real.

"If it's $10,000, that's a relatively small spread; $2,000 to $2,500 in federal and state taxes," says Ted Lanzaro, CPA and owner of an accounting firm in Shelton, Conn. "But it's not just the working man having this problem. Everybody's getting in over their head these days.

"If you have a $700,000 mortgage and the bank can only get $500,000 in a foreclosure sale, now you're talking about some tax liability."

And don't think the IRS won't find out. The agency has a mechanism to catch foreclosure sales. The lender is supposed to issue a 1099-C to alert the former homeowner and IRS of the canceled debt and, in certain cases, a 1099-A showing the information you need to figure your gain or loss.

"Some people are moving and the 1099 has trouble catching up," says Gary Garwitz, tax partner with BKD in Springfield, Mo. "If you're in that situation and had a mortgage you didn't pay off, make sure you get that 1099."

The IRS definitely will get its copy and expect the associated taxes. If the taxes aren't paid, penalties and interest will be added.

"The IRS is far more tenacious than most banks," says tax analyst Roth. "Their responsibility is to collect the tax on the income you have."

Home-sale exclusion still applies

There is one bit of good news for our hypothetical homeowner and others dealing with foreclosure-induced taxes. You can get out from under at least part of the IRS bill if you meet the homeownership tax-exclusion rules.

This popular tax break allows a single homeowner who sells his property under the usual circumstances to exclude up to $250,000 profit from taxes; the exclusion is $500,000 for married couples filing jointly.

The exclusion also applies in foreclosures. As long as the "seller," in this case the foreclosed-upon owner, lived in the home as his principal residence for two of the past five years, he can avoid taxes on any capital-gain profit, phantom or real.

Bankruptcy and insolvency solutions

Two other circumstances offer tax relief in foreclosures, but both could cause other financial problems.

If a homeowner can show he's insolvent before the discharge of the mortgage and turnover of the property, as well as afterward, proceeds are not taxed. However, says CPA Trenholm, "insolvency is a little tricky. There's no strict definition of what assets (go in the calculation), but for the most part, a lot of people caught in the real-estate crunch can establish that condition."

The other option is bankruptcy.

"Forgiveness debts, in these cases, are not taxed," says Roth. "They don't want the bank chasing them down, which is why many times people going through foreclosure also go through bankruptcy."

However, filing for bankruptcy has its own set of considerations. "New bankruptcy rules don't give (filers) a lot of relief," says William S. Bost, a member of the Raleigh, N.C., law firm Ragsdale Liggett. "If you have a job and are making money, the new bankruptcy rules don't give you a whole lot of help. It gives you some time, but I don't think that's necessarily the way to go.

"It used to be like going to church -- you walk in and walk out absolved -- but it's not like that anymore," says Bost. "Now, it's not worth the pain you pay the rest of your life."

One thing lending and tax experts all agree on: If you're facing foreclosure, take action as soon as you realize you're in trouble. And get professional help to determine exactly what your personal tax liability might be in the transaction.

Lanzaro has two other recommendations: "The best advice is, don't buy a house you can't afford, and don't get an adjustable-rate mortgage."

Other options

If you're stuck with more house than you can pay for, you have a couple of options in addition to foreclosure. Either is likely to reduce the stress of this terrible time and probably will do a little less damage to your credit report.

Each, however, still has tax and other potential long-term financial implications.

Short sale: This real-estate transaction has become popular among homeowners who are having problems making payments on a mortgage that is more than their house is worth. Rather than waiting for the bank to foreclose, the owner works with the lender to complete a sale of the home for less than the loan balance.

"You have a property you're just trying to get out from under," says Paul Haarman, vice president of Renaissance Mortgage in Salem, N.H. "Everybody is all lined up at the table and the buyer buys the property and the lender agrees to the price. You have a $250,000 debt, the bank nets only $220,000 and that $30,000 is written as a foreclosure shortage."

A short sale keeps a foreclosure from showing up in your credit record, but the shortfall will appear there as a delinquent loan. It's not as bad as a foreclosure, but, says Bost, "It's on the credit report and, as a (future) borrower and consumer, it will haunt you."

Deed-in-lieu of foreclosure: In this case, says Trenholm, the homeowner basically says to the lender, "I want to save you some time, some money. How about I just turn over the property?"

This way the foreclosure process is avoided, which will help the borrower, because it won't show up on a credit record. However, it could still show up on a credit report as forgiven debt.

This process has "pretty much the same tax consequences as a foreclosure," says Trenholm. Because you are being relieved of the indebtedness on the property, for tax purposes it's still considered sale of the property.

"All it does is make it a little bit easier to go through the process," he says.

Tax liabilities remain

The argument for short sales and deeds-in-lieu is that they are beneficial to strapped borrowers. From a tax and financial perspective, however, they don't really matter.

"All of these situations are basically the same," says Stein. "The mechanics and timing may be a little different, but essentially in all of them at some point a lender is saying to the borrower you don't have to pay the rest of what you owe. When he tells the borrower that, that's cancellation-of-indebtedness income."

"The only benefit," says Bost, "is the 'It's over' factor."

For more information please visit: http://realestate.msn.com/selling/Article_bankrate.aspx?cp-documentid=5427263&GT1=10632

Dos and dont's to fight foreclosure

2007-11-27T18:20:00.002-05:00

Homeowners have several options for saving money, their credit rating or their home -- but should beware of scams. (By Bankrate.com) More from Bankrate.com

In the beginning of the foreclosure process, homeowners can still save money, their credit or their house if they act quickly. Even when declaring bankruptcy, avoiding a foreclosure on your credit report can salvage your ability to rebuild credit and buy another house, which makes the struggle against a possible foreclosure well worthwhile.

6 possible dos when foreclosure looms:

1. Sell the property: If you can find a buyer before the house is auctioned, you can sell it and keep whatever equity still exists.

2. Work out a deal: Your lender may be willing to work with you, rather than lose money at a foreclosure sale.

3. File Chapter 7 bankruptcy: If you can't get caught up in time, you will not be able to keep the house -- but you'll generally be able to delay the foreclosure sale a month or even several months. Any remaining debt to the lender will be wiped out.

More on MSN

4. File Chapter 13 bankruptcy: If you can afford to make the future mortgage payments and the delinquent payments, too, file Chapter 13 bankruptcy. This is different from Chapter 7, in which assets are liquidated but debts are wiped clean. With Chapter 13, you keep your assets and, under court supervision, you repay your debts under a three- to five-year plan.

5. Short sale/deed in lieu of foreclosure: A short sale takes place when the bank allows you to sell your property even though their mortgage won't be paid. Be careful -- the bank may allow the sale to go through, but only on the condition that you repay the deficiency. In a deed in lieu of foreclosure, the property is signed over to the bank in exchange for the bank giving up its rights against you. Why might a bank agree to either of these? Lenders spend $30,000 or more to foreclose on a property. Most lenders will consider these options to avoid foreclosure costs.

6. Walk away from the house: Pack your things and leave. The only issue remaining is whether your lender can sue you for any deficiency still owed after the sale, and that depends on the state you live in and the type of mortgage you have. You'd be wise to speak to an attorney before taking this step.

Any sale or transfer of property has tax consequences, including a foreclosure sale or a deed in lieu of foreclosure. Seeing an accountant is probably a good idea, as well.

Here are two options NOT to consider. In other words, they're scams.

2 dont's when foreclosure looms:

1. Signing over your property title to another company: Some companies say that after the mortgage is current they will re-sign the property back over to you. This rarely happens. Instead, the company is likely to pull out equity, not make any mortgage payments and allow the property to be foreclosed. You will not be able to save the property from future foreclosures because the property is no longer in your name.

2. High-interest second mortgage: When a property has equity, there are companies that will give you a second mortgage, in an amount as high as 70% of the equity available. The interest rate could be as high as 18% and the fees can be exorbitant. They are hoping that you'll blow the money and default -- which allows them to take the property from you.

When facing foreclosure, you have options, but you need to avoid the scams and act quickly if you want to have the best outcome. Delaying only makes foreclosure inevitable.

For more information visit: http://realestate.msn.com/Buying/Article_bankrate.aspx?cp-documentid=5716201&GT1=10632

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