Great News!!!  The Federal Housing Administration (FHA) rolled out details of its policy on Friday that will let first-time home buyers apply an $8,000 tax credit to fund home purchases.

Until now, home buyers were only able to get that money after they bought a home, by applying for the credit–10% of the home’s price up to $8,000–on their tax returns.  The policy change means home buyers, who use FHA-backed financing, can get a short-term loan to help buy a home. The loan is repaid a few months later, after the buyer files an amended tax return and receives the credit.

Dont delay, call The Tello Team today at 954-237-0600 for more details on how we can help you and your family into your new home.  Not moving?? Please let us know who is so we can provide them the same great level of service!   

Below please find the actual News Release from HUD.

FHA plan will stimulate new home sales and help stabilize housing market

WASHINGTON - Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration’s new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today’s action will help stabilize the nation’s housing market by stimulating home sales across the country.

The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today’s announcement details FHA’s rules allowing state Housing Finance Agencies and certain non-profits to “monetize” up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA’s new mortgagee letter, visit HUD’s website.

“We believe this is a real win for everyone,” said Donovan. “Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation’s housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away. At the same time we are putting safeguards in place to ensure that consumers will be protected from unscrupulous lenders. What we’re doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing.”

Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today’s announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate. Buyers financing through state Housing Finance Agencies and certain non-profits will be able to use the tax credit for their downpayments via secondary financing provided by the HFA or non-profit. In addition to the borrower’s own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the downpayment. Today’s action permits the first-time homebuyer’s anticipated tax credit under the Recovery Act to be applied toward the family’s home purchase right away. Unlike seller-funded down-payment assistance, which was a vehicle for abuse, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit.

According to estimates by the National Association of Home Builders, the Administration’s homebuyer tax credit will stimulate 160,000 home sales across the nation - 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing homeowners will be able to buy another home because a first-time buyer purchased their home. Given FHA’s current market share, it’s estimated that thousands of families will be able to purchase a home by allowing the anticipated tax credit to be applied toward their purchase together with an FHA-insured mortgage.

Homebuyers should beware of mortgage scams and carefully compare benefits and costs when seeking out tax credit monetization services. Programs will vary from organization to organization and borrowers should consider whether the services make sense for them, as well as what company offers the most suitable and affordable option.

For every FHA borrower who is assisted through the tax credit program, FHA will collect the name and employer identification number of the organization providing the service as well as associated fees and charges. FHA will use this information to track the business closely and will refer any questionable practices to the appropriate regulatory agencies, as necessary.

Natascha Tello, Broker
Operating Partner
Keller Williams Realty Partners SW
2000 NW 150th Ave, Suite 2000
Pembroke Pines, FL 33028
954-237-0608

The Making Home Affordable (MHA) Program provided additional details yesterday on its plan to stabilize the US housing market and prevent avoidable foreclosures, and it is good news for short sales. The latest foreclosure alternatives include:
-  A Short Sales/Deeds-In-Lieu Program to Facilitate Foreclosure Alternatives
-  Incentives for servicers to pursue alternatives to foreclosures
-  Borrower incentives to cover relocation expenses to homes that are affordable
-  Streamlined process combining short sales and deed-in-lieu transactions
-  Borrower Eligibility.  

Borrowers will be eligible for the Foreclosure Alternative Program if they meet the minimum eligibility criteria for a Home Affordable Modification but did not qualify for a modification or were unable to sustain payments under a trial period plan or a modification.  Prior to proceeding to foreclosure, participating servicers must evaluate each eligible borrower to determine if a short sale is appropriate.  

Considerations include:

-Property condition

-Current Value

-Average marketing time in the community where the property is located

-Condition of the title including the presence of junior liens and a determination that the net sales proceeds are expected to exceed the investor’s recovery through foreclosure Incentive Payments.

-  Servicers may also receive incentive compensation of up to $1,000 for successful completion of a short sale or Deed in Lieu.

-  Borrowers may receive incentive compensation of up to $1,500 to assist with relocation expenses.

-  The US Treasury will also share the cost of paying junior lien holders to release their claims, matching $1 for every $2 paid by the investors, up to a total contribution of $1,000 by Treasury.
       
-  Standardized Documentation: The program will publish streamlined and standardized documentation, including a Short Sale Agreement and an Offer Acceptance Letter. These documents will outline specific marketing terms, describe the rights and responsibilities of all parties and establish clear time frames for performance.  Creating one standard set of documents that the industry can use is expected to minimize the complexity of these transactions and significantly increase use of the short sale option.

-  Property Valuation: The servicer will independently establish both property value and the minimum acceptable net return in accordance with investor guidance and will provide instruction to the borrower regarding the list price and any permissible price reductions.  The price may be determined based on either: (1) an appraisal performed in accordance with USPAP and/or (2) one or more Broker Price Opinions either of which must be dated within 120 days of the Short Sale Agreement.

-  Minimum and Maximum Duration: Under the program, servicers will allow borrowers at least 90 days to market and sell the property, with possibly more time based on local market conditions.  The property must be listed with a licensed realtor experienced in selling properties in the neighborhood.  Marketing of the property may run concurrently with the foreclosure process, however no foreclosure sale can take place during the marketing period specified in the Short Sale Agreement as long as the borrower is acting in good faith to sell the property.  There will be a maximum marketing period of 1 year for the property, provided any longer period not otherwise delay foreclosure sale, to ensure diligence by servicers and borrowers in moving as quickly as possible to complete the short sale and deed-in-lieu process.

-  Selling Commissions and Fees: Reasonable and customary real estate commissions and selling costs that may be deducted from the sales price will be specified in the Short Sale Agreement.  The Servicer will agree not to negotiate a lower sales commission after an offer has been received.

-  Fees and Charges: Servicers may not charge borrowers fees for participation in the Foreclosure Alternative Program.

-  Property Eligibility:  Any junior liens, mortgages or other debts against the property must be cleared for the property to be sold as a short sale or deeded to the servicer.  The servicer can proceed with a short sale or deed-in-lieu if there is a reasonable belief that all liens on the property can be cleared.

-  Program Expiration: Eligible borrowers will be accepted until December 31, 2012.  Program payments will be made upon successful completion of a short sale or DIL.

-  Deed-in-Lieu: At the servicers option, the Short Sale Agreement may include a condition that the borrower agrees to deed the property to the servicer in exchange for a release from the debt if the property does not sell within the time specified in the Agreement or any extension thereof. In this case the borrower would have 30 days to vacate the property and would be entitled to $1,500 to assist with relocation expenses, in addition to any other funds the servicer may provide to the borrower

Regards,

Natascha Tello, Broker
Operating Partner
Keller Williams Realty Partners SW
2000 NW 150th Ave, Suite 2000
Pembroke Pines, FL 33028
954-237-0608

www.telloteam.com
www.kwpines.com
www.thesouthfloridarealestateblog.com

“Aim High, but stay humble in your heart”

(April 1, 2009) — Keller Williams Partners Realty SW (KW Pines) and the Tello Team is proud to announce that Cheri Kaplan has joined as the Director of the KW Pines Commercial Division.

“Cheri Kaplan has been a real estate icon in Southwest Broward for over a decade”, says Rita Polit, Team Leader of KW Pines.   “Cheri has been a trailblazer in both the residential and commercial real estate industry.   Her extensive background in the education sector has been helpful in creating a niche selling private schools in South Florida.   We are expecting Cheri to be a tremendous leader for Keller Williams Realty all throughout the region.”

Cheri Kaplan is originally from Colorado and she graduated from the University of Colorado with degrees in business, psychology and Spanish.  Cheri worked for Manville Corporation in the international division and has also worked in fashion, as a flight attendant, and as a school principal.  Her interests include a love for animals as she volunteers for the Animal Wildlife Care Center.  She also enjoys the arts and travel.

“I have worked in real estate for over ten years in all facets of residential and commercial real estate”, says Cheri.  “I have always enjoyed real estate as every day is different.  My customers have been outstanding and provide me with a great referral base……and most of them are personal friends now.”

“I made the move to Keller Williams for the opportunity to get in on the ground floor of the Commercial Division”, says Cheri.  “When I heard about the launch and saw the level of professionalism that was required and the amount of experience backing the decision, I felt that it would be a good fit for me.  I am looking forward to working as a Commercial Director at Keller Williams Pines!”

Keller Williams Realty continues to attract agents.  In North America, Keller Williams Realty has been gaining ground for the last three years in both Canada and the U.S., outpacing pervasive downward trends in the real estate industry. Comparing the average annual performance of the company from 2004 - 2005 (before the shift in the real estate market) to 2006 - 2008, Keller Williams Realty increased its associate count by 52 percent, while market share for its offices increased 83 percent and agent gross commission income went up 35 percent. In 2008, the company shared more than $30 million in profits with its associates through its profit sharing program.

The company also recently announced that it had surpassed RE/MAX® International as the third-largest real estate franchise in the United States, according to Steve Murray of REAL Trends, a leading source of analysis and information in the residential real estate industry. The Austin, Texas-based company claimed the number three spot with 72,794 U.S. associates at the end of 2008.

###

About Keller Williams Realty Inc.:

Founded in 1983, Keller Williams Realty Inc. is the third-largest real estate franchise operation in the United States, with 679 offices and 74,000 associates in the United States and Canada. The company, which began franchising in 1990, has an agent-centric culture that emphasizes access to leading-edge education and promotes an economic model that rewards associates as stakeholders and partners. For more information, visit Keller Williams Realty online at (www.kw.com).

Over 40 Agents join Keller Williams Realty of Pembroke Pines

Since January 1, 2009, KW Pines is expanding rapidly

(May 5, 2009) — Keller Williams Realty Partners SW (KW Pines) is proud to announce that over 40 agents have joined the company since the beginning of the year.

Agents that Joined Our Family Formally of
Cristina Arias New Agent
Luis Arias Remax
Maria Barrial Oceanview
Monica Beltran New Agent
Girvan Billings New Agent
Teresina Canizales EWM
Rafael Carrero Rickenback Associates
Emelie Chang Prudential
Leticia Cohen Oceanview
Eric Conde The Lyon Company
Julio Contreras Remax
Robert Coronado Oceanview
Dan Crispino The Lyon Company
Luisa Diaz The Lyon Company
Alfonso Duran Rickenback Associates
Cristina Filippelli KW Ft Lauderdale
Rosa Flores Remax
Barbara Hammerschmidt New Agent
Nilsa Irizarry New Agent
Maria Jiménez Remax
Jodie Jonson The Lyon Company
Tracie Knowles New Agent
Cheri Kaplan EWM Realtors
Gloria Londono New Agent
Lili Kilgore Remax
Kristy Lyon The Lyon Company
Mark Lyon The Lyon Company
Mark Lyon II The Lyon Company
Monin Lyon The Lyon Company
Maria Monserrat New Agent
Burnette Niblack Prudential
Guerline Osterval New Agent
Cecilia Richard Remax
Dave Robinson The Lyon Company
Magda Robles Prudential
Kathleen Salvant New Agent
Silvia Sotelo Prudential
Anita Vaswani New Agent

“We are off to amazing start this year”, says Rita Polit, Team Leader of KW Pines.   “Local realtors have decided to join us because our culture, training, and financial stability are in ideal shape for the shift that is taking place. We are increasing our services and that is why agents are curious in checking us out.”

Natascha Tello has been the Broker and Operating Principal of the market center since its beginning. “The number of agents producing in our company is rising steadily. We have in place proven systems that hold Realtors accountable to achieve their goals. We also provide a wide variety of programs for team building, networking, and charity work that makes working here fun.”

“Keller Williams recharged me! I was ready to walk away from my 12 year career and they came out with SHIFT. They gave me the tools to survive and I am not only surviving, but loving it”, says Elizabeth Echeverry formally owning her own company, Homeland Real Estate.

“I joined KW for various reasons. Their reputation piqued my curiosity. Is KW as good as everyone I spoke to said it was? After my interview I realized that it is even better. The training is fantastic. The daily networking possibilities are beyond my expectations. But most importantly is the heartfelt warmth I sensed immediately. I have been welcomed like a long lost “family member”, says Elmer Mercado formally of Oceanview.

“In this business there are a lot of Realtors, however I believe my work and service that I provide for my clients is what separates me from the majority. That being said a name and what it stands for is important to me and after working with a few agents with KW I was ready to make the move. KW operates and represents professionalism, that’s important to me”, says Yvonne Rowan formally of ReMax.

For more information on how to take your Real Estate Career to the next level please contact Rita Polit, Team Leader at 954-237-0394.  All inquires kept strictly confidential.

Effective today May 1, 2009 a new FEDERAL law takes effect which states Mortgage Brokers, Realtors Buyers and Sellers will have NO control over the appraisal process. Brokers can no longer order appraisals directly from appraisers, Realtors, Buyers and Sellers can no longer order an appraisal and then bring it to their lender or bank for a loan. 

Banks are the only ones who can order the report directly from the appraiser or a third party will do the ordering hired by the Banks. These third parties are what we call Appraisal Management Companies (AMC’s). The banks are hiring these companies to puts a layer in between the banks and the appraiser for more independence and less lender pressure on the appraisers to “make the value”.

HVCC stands for Home Valuation Code of Conduct

If you are interested in background reading here are a couple of sites:

  1. http://www.appraisalpress.com/news/articles/hvcc_home_valuation_code_of_conduct/
  2. http://www.appraisalpress.com/news/articles/proposed_changes_to_the_hvcc

 If you have any questions about this new law,  let me know it is just around the corner.

Here’s to your success,

Natascha Tello
Operating Principal
Keller Williams Realty Partners SW
2000 NW 150th Ave, Suite 2000
Pembroke Pines, FL 33028
954-237-0608

“Aim High, but stay humble in your heart”

Despite higher unemployment, wages have improved in South Florida, according to a study released Wednesday by the U.S. Department of Labor.

However, paychecks in South Florida did not rise as fast as salaries in most large counties. 

In Miami-Dade County, the average weekly wage in the third quarter was $842, up 2.2 percent from the same period of 2007. In Broward County, the average weekly wage was up 2.2 percent to $792. In Palm Beach County, the average weekly wage was $811, up 0.9 of a percent.

Having a 2.2 percentage improvement ranked Miami-Dade and Broward 201st among the 355 largest counties in fastest year-over-year wage growth. Palm Beach ranked 275th.

The top-ranked county for wage growth in the third quarter was Rutherford County, Tenn., which is near Nashville, with a 17.3 percent.

Nationwide, the average weekly wage was $841 in the third quarter, up 2.8 percent. Only Miami-Dade beat the national average wage.

In Florida, the average weekly wage was $756 in the third quarter, up 2.2 percent. The District of Columbia had the highest wage, at $1,391. Connecticut, New York and Massachusetts were the only states with weekly wages averaging above $1,000.

The highest county wage was in New York City, at $1,552.

Miami-Dade was one of 10 large counties where the government broke out weekly wages by industry. The industry with the most annual weekly wage growth in the third quarter was government, which increased 4.9 percent to $1,058. That was followed by professional and business services, which grew 4.6 percent to $1,011.

The only industries in Miami-Dade that experienced wage contraction were natural resources/mining (down 2.3 percent) and trade/transportation/utilities (down 0.4 of a percent).The best weekly wages in Miami-Dade were in the information industry, at $1,227 a week.

Cash buyers and investors are returning to the market. And first-time buyers are taking advantage of the bargains, seller concessions, mortgage rates of below 5 percent and an $8,000 tax credit that expires Dec. 1.

By Paul Owers - South Florida Sun-Sentinel 8:46 PM EDT, April 23, 2009 

 Home buyers are seizing the opportunities in South Florida’s housing market as deeply discounted prices and historically low mortgage rates drive sales. Many sellers, however, are reeling, not able to unload their homes for close to what they paid. Until the sharp price declines ease - and that may take awhile - the region’s housing market won’t begin to recover from a slump that’s nearing 40 months.Sales of existing homes rose 47 percent in Broward County in March, to 680 from 463 a year ago, the Florida Association of Realtors said Thursday. The median price plunged 30 percent, to $219,500 from $311,400 last year.

In Palm Beach County, sales rose 20 percent, to 685 from 572 a year ago. The median price plunged 29 percent, to $228,100 from $320,200 last year.Cash buyers and investors are returning to the market. And first-time buyers are taking advantage of the bargains, seller concessions, mortgage rates of below 5 percent and an $8,000 tax credit that expires Dec. 1.“The combination of much lower home prices and record low interest rates represents affordability that home buyers haven’t seen in a long, long time,” said Greg McBride, senior financial analyst with Bankrate.com in North Palm Beach. “Even in a lousy economy, that will add a boost to home sales for the balance of 2009.”Still, the supply of available homes in South Florida, while decreasing, remains at a high level, weighed down by a steady stream of foreclosures and short sales.

Broward County has 28,898 homes, townhouses and condos for sale, down 19 percent from the end of November, according to Condo Vultures, a Bal Harbour-based real estate consulting firm. Palm Beach County has 26,808 properties, a 10 percent dip.

When banks slash prices on distressed properties, it reduces the values of homes nearby. That, in turn, feeds the foreclosure cycle. The price declines lead to homeowners walking away, frustrated that they owe more than their properties are worth.

Moody’s Economy.com, of West Chester, Pa., says Broward’s median home price might not bottom out until falling below $130,000 - which would mean a decline approaching 70 percent from the November 2005 peak of $391,100.Palm Beach County’s median is expected to bottom out in the $150,000 range – roughly a 65 percent drop from the 2005 peak of $421,500.“We don’t think house prices will rise in a meaningful way until the end of 2011 or toward the beginning of 2012,” said Chris Lafakis of Economy.com.

Meanwhile, the sales and price trends held true for the two counties’ existing condominium markets in March.

Broward sales rose 28 percent, while the median price plummeted 40 percent to $82,100. Palm Beach County sales increased 17 percent, while the median dropped 33 percent to $99,800. That’s the first time it has been under $100,000 since the Realtors’ group started tracking condo sales in 2006.

Rising unemployment is expected to affect housing, particularly people who already live here and want to move into larger homes. But for now, at the height of the spring home-selling season, real estate agents across South Florida report increased showings and more interest from buyers as prices fall.

Agent Randy Bianchi said he had four showings on a waterfront home Thursday. “I haven’t had four showings on it in three years,” he said.

Lewis Lopater recently bought on a three-bedroom house in Palm Beach Gardens. He paid $174,000 for a home that was listed last summer for $229,900.

Lopater and his wife, Dawn, have a monthly mortgage payment of about $1,400, only $200 more than they paid in rent.

“It’s well worth it to have a fenced-in back yard and a piece of the pie, so to speak,” said Lopater, 48, a father of two and a food service employee at Boca Raton Community Hospital. “I really lucked out.”

Nationally, home sales fell 3 percent from February. The median sales price plunged to $175,200, from $200,100 a year earlier. In Florida, sales rose 30 percent, while the median dropped 30 percent to $141,300. The median means half sold for more, half for less.

“The general public is starting to get it, that it’s a good time to buy,” said Michele Bellisari, an agent in Broward and Palm Beach counties. “Buyers are starting to have more confidence.”

The Attorney General’s office has shut down 2 very large loan modification offices, and both are pending lawsuits due to improper legal services and actions.

The first office, which is a South Florida loan modification company , has had it’s company’s assets frozen until a lawsuit filed against the company could be heard in court. Miami-based Mortgage Crisis Solutions Association, LLC and ownerDonald Gillette are accused of charging homeowners in foreclosure up-front fees as high as $2,995 for loan modification services, but never providing the services. Additionally, the lawsuit alleges Gillette and his company improperly advertised legal services and counsel. 

“We sought this injunction to better protect this company’s victims,” said Attorney General McCollum. “Judging from the complaints we have received, many people have been sorely taken advantage of by this company and Mr. Gillette.”The lawsuit, filed yesterday by the Attorney General’s Economic Crimes Division in Miami-Dade County Circuit Court, was accompanied by an injunction which requested the court freeze the company’s assets and prevent it from destroying any evidence of the violations of Florida law. 

According to the request for injunctive relief, the defendants – including three related companies and a high-level Gillette employee – obtained clients by claiming expertise in helping homeowners prevent foreclosure. The defendants also claimed they could provide “practical information and education on legal alternatives, mediation,negotiation, defense and proactive steps to save [homes] and equity and deal with the threat of foreclosure” even though none of the defendants is an attorney.One of the victims who filed a complaint with the Attorney General’s Office stated Gillette and his company failed to provide her with representation at a foreclosure hearing and a foreclosure sale and advised her to file for bankruptcy without reason.The woman paid Gillette nearly $13,000 but was denied a refund. 

A related company, Property Solutions Specialists, Inc., is also named in the lawsuit and allegedly guaranteed to make available all laws applicable to the homeowners’situation to better assist them with the defense against foreclosure, even though the company is not a legal services entity. 

The lawsuit alleges multiple violations of the Foreclosure Rescue Fraud Prevention Act and the Florida Deceptive and Unfair Trade Practices Act. Full victim restitution has also been requested. A copy of the lawsuit has been served on Gillette and his employee, Flynn McCarthy. 

The second company, which is a Miami company has allegedly engaged in foreclosure rescue fraud. According to the lawsuit, Lincoln Lending Services, LLC targeted Hispanics facing foreclosure and charged up-front fees for loan modification services, both in violation of the Foreclosure Rescue Fraud Prevention Act. 

“Our citizens should not be targeted when they are in a time of financial distress andare desperately trying to protect their homes,” said Attorney General McCollum. 

According to consumer complaints, Lincoln Lending advertised for mortgage foreclosure assistance and rescue services. The complaint alleges that to get around the statutory prohibition against up front charges, the company would have consumers pay $2,700 for “forensic analysis” services, then sign a contract for alleged modification services. The forensic analysis fee was allegedly created to circumvent the new law,which the Attorney General helped create last year. Lincoln’s business of offering legal services, directly or indirectly, constitutes the unauthorized practice of law and violates FS 877.02(1). The Attorney General’s Economic Crimes Division determined Lincoln Lending also forwards consumers to an attorney working under the business names of Florida Foreclosure Law Center, LLC and Florida Homeowner Assistance Center, LLC. The lawsuit petitions the Court to issue a temporary injunction against the company while litigation continues. It also seeks consumer restitution and ultimately a permanent injunction prohibiting the company and its owner, Rita Gomez, from engaging in similar business practices.

With the uncertainty of today’s economic environment so many people are delaying or wondering if that home purchase that they really want to make would be a wise move.

Well, there’s good news for all! The Tello Team of Keller Williams Realty Partners SW and the Keller Williams Realty South Florida Region has partnered with “The Rainy Day Foundation”, which is bringing SAFE HOME to the South Florida real estate marketplace.  SAFE HOME is the private label version of  “Homeowner Education & Loan Protection” (HELP) offered by The Rainy Day Foundation. 

What is “The Rainy Day Foundation”? It’s an organization that provides financial protection to homeowners for life’s unpredictable and unexpected events. In other words, if you purchase a home now, and unfortunately loose your job 4 months down the road, “The Rainy Day Foundation” would step in and assist in your mortgage payments with their “Mortgage Protection Program”. Through this program, qualified homeowners who have either and FHA or VA loan, who experience involuntary loss of employment, will receive up to $1,800 or $2,500 per month for up to six months coverage.

Buyers would be enrolled into this program at the time of purchase. And, they don’t wait until the homeowner is experiencing problems to speak with them. They call each home buyer within 72 hours of receiving the application to introduce themselves, explain who they are, and inform you of the services that they offer. Before your first mortgage payment is due, and continuing each month for up to 2 years, they will call to provide sound financial tips and informational resources to assist the homeowner in maintaining financial stability. During the first 6 months of mortgage payments, they also will call the new homeowners to review the services that are available to them, to gauge their current financial state and to validate that their mortgage payments will be made on time.

Sound too good to be true? It’s not! If you purchase a qualified home through the Tello Team, you too can be enrolled in this great service with no out of pocket cost to you!  Coverage is not just for those that may lose their jobs.  Don’t miss this great opportunity!

Need more information? Ready to go out today to look for that new home?

Call a member of our team today!

FLORIDA: The Internal Revenue Service gives tips for taxpayers who haven’t yet filed or taken the necessary steps to ensure they receive the economic stimulus payment they qualify for.

Do your own taxes for free
Use IRS Free File at www.irs.gov to do your own tax return and e-file it online at no cost.
Filers with income of $56,000 or less can use tax software free. Those with higher incomes can use the new fillable forms at no cost.

Get free tax preparation and e-filing
Go to a community help site staffed by trained volunteers.
Sites will help those with income under $42,000 or who file a simple return. Some specialize in helping seniors.
Call 1-800-906-9887 for the site nearest you.

Get tax credit for home purchase
Take a tax credit of up to $7,500 if you bought a home after April 8, 2008, and had not owned one for at least 3 years the purchase date.
(Note: credit is paid back starting 2 years later over 15 years.)

Qualify for more of last year’s stimulus payment?
Claim the Recovery Rebate Credit (up to $600 for individuals, $1200 for couples)
If you didn’t get a stimulus payment last year or didn’t get the full amount but you qualify based on 2008 income.
Also, if you had a child or ceased being a dependent in 2008, you may qualify for this credit.

Income down in 2008
See if you qualify for Earned Income Tax Credit.
A married couple filing jointly with income under $42,000 and 2 or more children could qualify for up to $4,824.

Deduct your real estate taxes
Add your real estate taxes to your standard deduction.
Up to an extra $500 for individuals, $1000 for married couples filing jointly.

Get your money faster
With e-file and direct deposit, your tax refund can be in your bank account in 10 days or less.

Get free help and forms
Don’t be confused by internet sites that end in .com, .net, .org or other designations.

1 | 2 | 3 | 4