Hoboken FHA Approved Properties

These are the latest FHA approved properties in Hudson County. Let me know if you would like to schedule a showing or need any additional information on the properties or financing.

Click on any property below to view property details and return to this page to see other properties. For a more refined search visit:

• New Jersey FHA Approved Properties
• Hudson County FHA Approved Properties
• Jersey City FHA Approvied Properties

… or call me directly (201 988 1393) for immediate advice on FHA properties that suit your needs and budget.

Let me know if you would like to schedule a showing of any of the following:

FHA Approved Condos in Jersey City, NJ

These are the latest FHA approved properties in Jersey City. Let me know if you would like to schedule a showing or need any additional information on the properties or financing.

Click on any property below to view property details and return to this page to see other properties. For a more refined search visit:

• New Jersey FHA Approvied Properties
• Hudson County FHA Approved Properties
• Hoboken FHA Approved Properties

Let me know if you would like to schedule a showing of any of the following:

New Jersey FHA Approved Condos

Comprehensive list of the latest FHA approved properties in New Jersey. Let me know if you would like to schedule a showing or need any additional information on the properties or financing.

Contact me directly (201 988 1393) for the full list of NJ FHA condos and immediate advice on FHA properties that suit your needs and budget.

Click on any property to view property details and return to this page to see other properties. For a more refined search visit:

• Hudson County FHA Approved Properties
• Hoboken FHA Approved Properties
• Jersey City FHA Approvied Properties

Let me know if you would like to schedule a showing of any of the following:

Hudson County FHA Approved Properties

These are the latest FHA approved properties in Hudson County.

Click on any property to view property details and return to this page to see other properties. For a more refined search visit:

• New Jersey FHA Approved Properties
• Hoboken FHA Approved Properties
• Jersey City FHA Approvied Properties

…or call me directly (201 988 1393) for immediate advice on FHA properties that suit your needs and budget.

Let me know if you would like to schedule a showing of any of the following:

Short Sale vs Foreclosure: Which one is best?

With the unemployment rate at 9.5% as of October and headed to 10.5% by the end of the year, foreclosures and short sales are occurring in epidemic proportions. When someone is facing the devastating fact that they can no longer maintain their mortgage payment, it is important for financially devastated home owners to protect themselves as best they can. So where do you turn once you realize you cannot hold onto your home?

Once a home owner gets to this point there are two possible choices they can make. Walk away through foreclosure and live with the devastating effects on your credit for years to come or find an alternate solution. At first, home owners who are already mentally exhausted after months of falling behind on payments with no relief in sight might be tempted to just throw in the towel and walk away. However, foreclosure is the worst option you can choose. So what are the alternatives and why is foreclosure the worst option?

The Foreclosure Option
In the foreclosure process the lender assumes ownership of the house. Not only do you lose your house, you lose your equity (if there is any) and down payment as well. Also, a lender can get a judgement against you for any late fees and the cost of the foreclosure action. That’s just the beginning. Your credit will be in complete shambles for years to come making any sort of credit purchase almost impossible. This option should be the absolute last resort.

The Short Sale Option
The short sale of a home is possible when the property is worth less than the amount owed on the loan, commonly referred to as being “upside down” on a mortgage. However, in order to make a short sale possible, the mortgage lender must agree to discount the balance of the home loan due to the financial hardship of the borrower. The negotiation of the new loan balance usually takes place between the borrower and the loan modification or workout department of the bank or lender.

Although your credit will be affected negatively, this can be salvaged much sooner than redeeming your credit from a foreclosure. Another advantage to a short sale is once a buyer has been found, most home owners can avoid paying the mortgage payment while negotiations are taking place. Your home will also be put up for sale as is, which means you won’t be stuck with repairs in order for the house to close escrow.

Getting a Short Sale Done in Time
Getting a short sale done before a foreclosure takes place is of the utmost importance. To do that, you must have a Realtor in place that is experienced with the short sale process in order for it to not fall through. “Well…aren’t all Realtors knowledgeable in short sales”, you ask? Absolutely not. Short sales must go through a bank or lending institution as opposed to a seller and a specific ‘short sale’ process must be followed. Experience can make or break the short sale purchase.

Time is of the essence and your credit is at stake. This is not the time to place your future in the hands of a Realtor that is not completely experienced in the short sale process and might not get the job done in time.

Sean T Shallis and The Shallis Group are considered one of the Nations leading Short Sales experts. Call Sean immediately for a personal and confidential conversation about your personal situation. My direct line is 201-427-1032.

Homebuyer Tax Credit Passes in Congress

Urgent update on the first time home buyer tax credit…

Great news for both Buyers and Sellers!

Both the House and Senate pass through legislation to extend and expand the first time home buyer tax credit. This new legislation will extend the current $8,000 tax credit, which would have expired November 30, to the new date of May 1, 2010. In addition to the tax credit extension for first time buyers, this new legislation adds a $6,500 tax credit to repeat buyers as long as they have lived in their home for five of the last eight years. Eligible home prices must be under $800,000. Additional requirements include an income limit of $125,000 for individuals and $225,000 for joint buyers.

Home buyers who have a signed contract by April 30, 2010 will also be allowed another 60 days to close on the property. For those in the military serving overseas between January 1, 2009 to May 1, 2010, the credit has been extended another year.

In addition to the tax credit news, the chairman of the Federal Reserve, Ben Bernanke, announced this week that interest rates would remain at their current level for some time to come. This is great news to the real estate market and, more importantly, to potential buyers.

Now is the time to stop looking from the sidelines and start BUYING IMMEDIATELY! We may never see another time in the real estate market where the prices and interest rates remain historically low!

Your Uncle Sam is saying, “BUY NOW…I’ll even give you some money to help you out in the way of a tax credit incentive”… NOW is the time to take advantage of the real estate market. There are plenty of Hoboken and Jersey City properties available to meet your needs and qualify for the tax credit.

To capitalize on this amazing opportunity, call me immediately. My direct number is 201-427-1032… Say, “Your Uncle Sam told you to call”!

In this real estate market finding experienced real estate help is essential. Please contact Sean T Shallis at The Shallis Group for a personal consultation on your buying or selling needs at 201-427-1032.

First Time Home Buyer Tax Credit: Extension gets approval from Obama

The first time home buyer tax credit, which expires November 30, gets an approval from the Obama administration for an extension and expansion.

The $8000 tax credit given to qualifying new home buyers has undoubtedly given the real estate market a bolster in the right direction. What happens once the tax credit is gone is up for great debate. Fortunately, and with a sigh of relief, it looks as though the real estate market will get a reprieve from the upcoming deadline with an extension endorsed by the Obama administration.

The tentative agreement reached in the Senate would not only extend the current tax credit, it would also expand to include current homeowners wanting to move. The credit being discussed for current homeowners who move could come to $6500 provided they purchase their home before the new deadline, which could come in April. Reportedly, in order for current homeowners to qualify for the new tax credit, they must have resided in their current home for five years.

So when will the speculation be over?
Any of the several purposed tax credits have still yet to hit the floor of Congress for a vote. Although, with the endorsement from the Obama administration, pressure is certainly being applied to get this done quickly.

Is all the fuss about the tax credit worthwhile?
This is a great question with numerous answers depending your personal situation. For example, for the first time buyer with a individual income of $75,000 or less annually or a combined income of $150K or less for married couples, it’s an additional 8K in their pocket!

In contrast, for the buyer who has owned in the past 3 years and/or earns more than the maximum income guidelines, extending the credit will have very little ‘direct impact’ to their personal situation. Even with the possible expansion for repeat buyers, they must have owned the residence they are selling for five consecutive years. With regards to the sellers, the answer becomes more complicated. If your considering selling your home in the near future I would suggest calling me immediately at 201-427-1032 for a personal and confidential conversation in regard to the impact of the credit.

With interest rates still at an all time low and the tax credit incentive still available, this is the time to take advantage of the real estate market. There are plenty of Hoboken and Jersey City properties available to meet your needs.

In this real estate market finding experienced real estate help is essential. Please contact Sean T Shallis at The Shallis Group for a personal consultation on your buying or selling needs at 201-427-1032.

(additional source: cnn.com)