Real Estate Link Partners in Placerville, Shingle Springs, El Dorado Hills and Cameron Park, California Provided by Diane Hall and Team

Placerville real estate CA, Shingle Springs real estate, El Dorado Hills real estate and Cameron Park Northern California El Dorado and Amador County Horse and Ranch Properties and Northern California Sierra Foothills Estates, Homes and Land - Diane Hall, REALTOR®

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Diane Hall, REALTORŽ, real estate agent and broker for Placerville, Shingle Springs, El Dorado Hills and Cameron Park California home listings, property and land for sale - NUMBER1EXPERT(tm)

Find out why I am a Top Real Estate Expert. Call me: 530-295-8440.

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Welcome > Resources > Avoiding Forclosures ...

Avoid Foreclosure - If you are facing foreclosure its essential to get someone in your corner right away who understands the laws of your state. An expert who knows your rights and the assistance programs to save your home.

Recently, I have had many clients who have called me with worries about loans that are about to adjust, and their inability to refinance do to lower appraisals. I have gathered some contact information that may help. The last thing you want to happen in this market, is to loose your home. There are many people that do not understand bank short sales. We are seeing quite a few of them in this market. A short sale is when the bank allows you to sell you home for less than you owe. Banks do not want any down time and a short sale is better than a foreclosure. The short sale will not adversely affect your credit and you will be able to buy again in two years.

If you have any questions about your homeplease call me and I will try and get answers for you.

If you are a buyer ---Now is a great time to buy these reduced homes

Here is some immediate information to help you save your home and your credit-------

1. Call your lender immediately. The sooner you contact your lender (look for the toll-free number on your monthly statement), the more options will be available to you. Ask for the loan mitigation department.

2. Talk with a reputable credit counseling agency. You can call the Homeownership Preservation Foundation (toll-free 888-995-HOPE) or find a local HUD-approved counseling agency (toll-free 800-569-4287 on weekdays) or go to www.hud.gov.

3. Know your loan modification options. Depending on how quickly you call your lender, the following loan modification options may be available to you: forbearance (an agreement to temporarily let you pay less or nothing while you get back on your feet); reinstatement (pay the total amount you're behind in a lump sum by a certain date); repayment plans (you'll be given a fixed amount of time to repay the amount you're behind by combining a portion of what's past due with your current payment); and, loan modifications (a written agreement between you and the lender that permanently changes one or more of the original terms of your loan to make it more affordable, such as extending the loan term or lowering the interest rat

Online Resources:

Hope Now

http://www.hopenow.com/

Government coalition focused on helping people avoid foreclosure.

CNN Money

Beating Foreclosure: Who to Call

RISMedia

5 Ways to Take Advantage of the New Freeze on Real Estate Foreclosures

Read more by Ilyce R.Glink at her Personal Finance and Real Estate Center

XBroker Blog Some serious mortgage information

BlownMortgage Blog Consumer Mortgage Tips

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First Time Buyers >Your Principal Residence

The Federal Tax Code allows married taxpayers to exclude from capital gains taxes up to $500,000 in profits from selling a home (singles can exclude $250,000). In order to qualify for this exemption, you must prove that that the home has been your principal residence for at least two out of the last five years. The establishment of the home as a principal residence depends on the facts of each homeowner's circumstance. Here are two cases to consider.

Homeowner A has lived at 25 Pine Drive for 12 years. Although he stays at his vacation cottage in another town for up to three months out of each year (sometimes more), 25 Pine Drive is his principal residence, where he lives most of the time. When he sells the home, Homeowner A (filing as a single individual) can keep up to $250,000 in tax-free profit.

Homeowner B buys 108 Maple Street, intending to live there. He rents it out while waiting to sell his current home, where he has lived for six years. His principal residence sells at the end of two years. Homeowner B moves into his new house, lives there for three months, and then decides to travel. After a six-month trip, he regrets buying 108 Maple Street and sells it. Even though he has owned the house on Maple Street for over two years, it won't qualify as "owner-occupied", because he only lived in it for a few months. Thus Homeowner B is not eligible to claim the tax exemption when he sells the house on Maple Street.

Consult your tax advisor for advice about your particular circumstance.

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Diane Hall and Team
RE/MAX Gold
851 Pleasant Valley Road
Diamond Springs, CA 95619
Diamond Springs Office: 530-295-8440
Home Office: 209-274-2246
Fax: 530-295-8443
Business: Diane@RanchandVines.com
Diane's Email: Diane@ranchandvines.com
Diane Hall and Associates are committed to excellence in service and results. Diane is a member of the RE/MAX Gold and Platinum Clubs and El Dorado County Top Achievers as well as a Top Listing and Selling Agent in the top 5% of El Dorado County Agents. In 2006 Diane entered the Remax Hall of Fame.

Diane has been a top sales achiever since 1990. She owns and operates her Remax Gold Office in Diamond Springs and Mt. Aukum. Her experience in real estate sales and previous years in land development provide her with the knowledge she needs to give you the best guidance in buying a home or buying land to build a new home.

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Placerville, Shingle Springs, El Dorado Hills and Cameron Park Northern California El Dorado and Amador County Horse and Ranch Properties and Northern California Sierra Foothills Estates, Homes and Land