Getting Help to Achieve the American Dream

The first-time home buyer tax credit of up to $8,000 can be a significant help during the remainder of 2009 for buyers who have not owned a home in the previous three years. Check out my column, “First time home buyer’s tax credit,” over at Rocklin & Roseville Today for the details of the program. I believe this is a good program and will help not only to revitalize our Sacramento real estate market but will help buyers get their first home.

Sacramento Short Sales

We are beginning to see short sale junior lenders flexing their muscle. A year ago you could count on the junior lender to pretty much roll over and take whatever allowance the senior lender allotted to them for their lien release. Now, they are holding out for more money and most are asking for the borrower to sign a letter saying they will remain responsible for any shortfall amount.

Trying to help struggling Sacramento homeowners avoid foreclosure by modification of their mortgage or a short sale is more difficult than it should be. Every time the government comes up with a program or an incentive the lenders quickly figure out how to get the money without helping the borrower and essentially avoiding the primary objective of the program, which is to help the homeowner.

We are continuing to do our best to help homeowners avoid foreclosure but it is taking more time, energy and all of our experience to make it work. If you or someone you know is having trouble making their monthly mortgage have them call us soon if they are behind in their payments.