New York Real Estate Blog: May 2008

Determing what stage in the process you are in is the key!

Here are your TOP 5 options:

• Forbearance- Your mortgage company may be able to arrange a repayment plan, to repay your debt over an extended amount of time, based on your financial situation. (I'll help to see if you qualify).
• Loan Modification- You may be able to modify the terms of your mortgage loan by lowering the rate, extending the term, or capitalizing the interest. This may help you catch up, and sometimes reduce your monthly payments to a more affordable level. (I'll help to see if you qualify).
• MI Claim Advance- Your mortgage company may be able to work with you to obtain a one-time payment from the Mortgage-Insurance fund to bring your mortgage current. (This loan will be paid back directly to the MI company and is an unsecured Note.)
• Deed-in-lieu of foreclosure- As a last resort, you may be able to voluntarily "give back" your property to the lender. This won't save your house, but it is not as damaging to your credit rating as a foreclosure. (To be used as a last resort ONLY!!!)
• Pre-foreclosure sale- This will allow you to avoid foreclosure by selling your property for an amount less than the amount necessary to pay off your mortgage loan. Also, this option has become very popular and has more advantages than any other option. (Subject to bank's approval of a shortsale).

Walking away from your property can carry many long-term consequences. A foreclosure has very serious credit implications. Foreclosures are a matter of public record and are reported to credit reporting agencies in the United States. Once the foreclosure is reported, it becomes a part of your permanent credit file and will remain for up to ten years.

We may be able to help you avoid, or reduce, the consequences of foreclosure. Please contact us as soon as possible so that we can have the opportunity to evaluate all possible solutions to avoiding foreclosure. Click here to contact us. 

Or contact me directly at ProRealtor@verizon.net for more information.

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To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Property Description 

Amazing Opportunity!! Set Up As A 2 Family For The Price Of A 1 Fam. Cozy One Family Home In Ozone Park- A Must See!!! Little To Do if You Want To Legally Convert. Price Reduced! Great House. Close To Everything. Independant Units, 2 Full Baths, Close To Everything. Needs a Little TLC.  Blocks To Transportation, Houses Of Worship, And Shopping Area. Easy To Show Flexible Monday - Saturday. Perfect Starter Or Retirement Home. Convenient Yet Private!Needs A Little Tlc.

Listing Price $399,000

Bsmt/Subfl- Full Partly Finished Basement

1^st Floor- Lr/Dining Area,Fbth,Eik,1Br (Plus Enclosed Porch Used As Br)

2^nd Floor- Lr,Fbth,Eik,2Brs

Lot Size- 25 X 100

Lot Square Footage- 2,500

Building Size- 22 X 30

Approx Int SqFt- 1,439

Taxes- $1,958

School District- 27

Approx Year Built- 1925

Construction- Frame

Block- 9021

Lot- 36

Show Instructions- By Appointment Only

Vincent Martinez

Prudential Network of Homes

107-02 Jamaica Ave.

Richmond Hill, NY 11418

Email: ProRealtor@verizon.net

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/

SEARCH over 50,000 homes online for FREE and be the first to know about HOT NEW LISTINGS before other buyers do, please visit http://www.allnylistings.com/

Property Description 

New Construction Just 4 Years New. Mint 2 Family. Immaculate Condition.House Has New Windows, Kitchen, Steps, Flooring, New Roof, New Electrical Troughout Home, And New Circuit Breakers. Home Is In Immaculate Condition And Is Extremely Cozy. Will Be Delivered Vacant. Backyard Is Incredible!! This House Will Go Fast. Subject to Bank's approval of a short sale.

SOLD IN 16 DAYS!!!!!

Bsmt/Subfl- Full Finished Basement

1^st Floor- 2Brs- Lr- Kitchen- Full Bath

2^nd Floor- 2Brs- Lr- Kitchen- Full Bath

Lot Size- 20 x 80

Lot Square Footage- 1,600

Building Size- 20 x 42

Approx Int SqFt- 2,520

Taxes- $46

School District- 16

Zoning- R6

SOLD IN 16 DAYS!!!!!

Listing Price: $509,000

Sold Price: $470,000

Listing Date: October 9th, 2007

Expiration Date: April 9th, 2008

Contract Date: October 25th, 2007

Title Date: May 8th, 2008

Days on the market: 16

SOLD IN 16 DAYS!!!!!!

Vincent Martinez

Prudential Network of Homes

107-02 Jamaica Ave.

Richmond Hill, NY 11418

Email: ProRealtor@verizon.net

To find the value of your home with a FREE, over-the-net home HIGHEST Price Analysis, please visit: http://www.newyorkmarketvalue.com/