Good reminder tips for everyone.
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Spacious end unit TH,large eat-in kitchen w/gas fireplace, granite countertops, stainless appliances, hardwood, deck off kitchen. Fresh paint and steam cleaned carpets on all 3 levels. Close to shopping and commuter options. Community amenities include tot lot, pool, and fitness room. $2,100 includes lawn maintenance.
Additional details and virtual tour – http://www.postlets.com/rts/4580471
Very interesting results…check it out –
REALTOR® Magazine-Daily News-States With Highest, Lowest Property Taxes.
Fannie Mae has a new website that helps to educate and assist homeowners who are struggling with their mortgage payments. The site, KnowYourOptions.com, outlines the choices available and provides guidance on how they can find solutions.
Virginia Sales Tax Holiday is August 6–8
School supplies selling for $20 or less per item and articles of clothing, including footwear, selling for $100 or less per item will be exempt from sales tax during the Virginia Sales Tax Holiday scheduled for Friday, August 6 through Sunday, August 8.
For more information about the Virginia Sales Tax Holiday, go to http://www.tax.virginia.gov/salestaxholiday.
News Release
June 23, 2010
Fannie Mae Increases Penalties for Borrowers Who Walk Away
Seven-Year Lockout Policy for Strategic Defaulters
WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today policy changes designed to encourage borrowers to work with their servicers and pursue alternatives to foreclosure. Defaulting borrowers who walk-away and had the capacity to pay or did not complete a workout alternative in good faith will be ineligible for a new Fannie Mae-backed mortgage loan for a period of seven years from the date of foreclosure. Borrowers who have extenuating circumstances may be eligible for new loan in a shorter timeframe.
“We’re taking these steps to highlight the importance of working with your servicer,” said Terence Edwards, executive vice president for credit portfolio management. “Walking away from a mortgage is bad for borrowers and bad for communities and our approach is meant to deter the disturbing trend toward strategic defaulting. On the flip side, borrowers facing hardship who make a good faith effort to resolve their situation with their servicer will preserve the option to be considered for a future Fannie Mae loan in a shorter period of time.”
Fannie Mae will also take legal action to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency judgments. In an announcement next month, the company will be instructing its servicers to monitor delinquent loans facing foreclosure and put forth recommendations for cases that warrant the pursuit of deficiency judgments.
Troubled borrowers who work with their servicers, and provide information to help the servicer assess their situation, can be considered for foreclosure alternatives, such as a loan modification, a short sale, or a deed-in-lieu of foreclosure. A borrower with extenuating circumstances who works out one of these options with their servicer could be eligible for a new mortgage loan in three years and in as little as two years depending on the circumstances. These policy changes were announced in April, in Fannie Mae’s Selling Guide Announcement SEL-2010-05.
Covers Prince William County/City of Manassas/City of Manassas Park thru June 2010.
See chart here:
http://images.magnetmail.net/images/clients/PWAR/attach/Marketstats610.pdf
July 15, 2010
Shop for School Tax-Free before School Begins, Virginia Sales Tax Holiday is August 6–8
School supplies selling for $20 or less per item and articles of clothing, including footwear, selling for $100 or less per item will be exempt from sales tax during the Virginia Sales Tax Holiday scheduled for Friday, August 6 through Sunday, August 8.
Families with children in Prince William County Public Schools are encouraged to take advantage of these savings to prepare their students for the upcoming school year. Check your school’s Web site or call your school for a copy of the 2010–11 supply list. For a directory of schools, go to pwcs.edu and click on “Schools,” then select the directory by grade level.
For more information about the Virginia Sales Tax Holiday, go to www.tax.virginia.gov/salestaxholiday.
http://www.pwcs.edu/news2/announcements/29-AugustShopTaxFree.html.
Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the credit. Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule. It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
Here’s a link to the IRS site and a preview of what is posted there http://www.irs.gov/newsroom/article/0,,id=215594,00.html
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