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SEARCH FOR HOMES IN THE WASHINGTON D.C. METRO AREA

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SEARCH FOR BANK OWNED HOMES/FORECLOSURES

Priced Below Market Value! Make HUGE Real Estate Investing Profits buying Bank/Real Estate Owned (REO) homes, Pre-Foreclosures, Foreclosures and H.U.D. Homes! To search foreclosure on the location map click here.

Just Reduced! 4 levels Townhouse For Sale in Rockville, MD
List Price: $478,900 3BR, 3.5BA

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JUST LISTED Studio For Sale in Vienna, VA!
List Price: $164,900. Location! Location! Location!

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Home Buyer Resources

Buying a home can be complicated, but fortunately a lot of expert advice is available to help people navigate the experience. These online resources can help make the process smoother.
5 common buyer mistakes in a short sale
1. Ignoring property problems.
2. Skipping the home inspection.
3. Ignoring legal and insurance information.
4. Leaving too little time for closing.
5. Falling hard for a bad home.
Click here to read the article.

State Housing Agencies with programs that provide short-term loans that may be used to fund a down payment in conjunction with the tax credit.
Buying and Owning a Home Freddie Mac
Buying a Home Department of Housing and Urban Development
The Home Buying Process Federal Housing Administration
FHA Loans Federal Housing Administration
Homeownership Resources Fannie Mae
Home Loan Learning Center Mortgage Bankers Association
Move.com NAHB's official new homes listing site
Home Loan Guaranty Services Dept. of Veterans Affairs
State and Local Home Buyer Assistance Programs
Housing Publications from the Federal Citizen Information Center Most in PDF format
Consumer Information from NAHB NAHB.org
Mortgage information from the Fed Federal Reserve Board
Home Financing Information from the FTC Federal Trade Commission
Making Home Affordable Foreclosure prevention.

FORECLOSURE RESCUE

Are you falling behind on your mortgage payments?
Do you have a few mortgages and negative equity?
Need to sell your home and WALK AWAY DEBT FREE?


 At SAAB we can take care of that with the SHORT SALE.  My REO Team and I are effective Short Sale negotiators, because we use our established relationships with numerous banks to solve your situation. In 2008 we have helped banks to sell over 400 distressed/foreclosed properties in our service area. Let SAAB REO Team to pull you out of the difficult position you are in. Just give our SHORT SALE HOTLINE a call at 703.288.4877 to find out about your options. Click here to learn more...

Home Affordable Foreclosure Alternatives Program (HAFA) The U.S. Treasury Department announced new guidelines this week designed to make short sales go more smoothly. To qualify under these new guidelines:
* The property must be the home owner’s principal residence.
* The home owner must be delinquent on the mortgage or close to defaulting.
* The loan must have been made before Jan. 1, 2009, and be for less than $729,750.
* The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.
Under the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages. Mortgage-servicing companies will get $1,000 for each completed short sale.
Second-mortgage holders can receive up to $3,000 of the sales proceeds in exchange for releasing their liens. Investors who hold the first mortgage can collect up to $1,000 from the government for allowing the payments.
Borrowers who complete a short sale under the program must be "fully released" from future liability for the debt, according to the guidelines.


The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion does not apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. More information, including detailed examples can be found in Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments. Also see IRS news release IR-2008-17. more...

The Nation's Housing. In trouble and thinking about a short sale? Help is on the way:
If you're in trouble on your mortgage and can't get a loan modification, check out the Obama administration's new standardized short-sale plan that's scheduled to roll out during the next several months...

Government unveils new short-sale rules:
The Treasury Department unveiled sweeping rules this week to help financially troubled homeowners who need to sell but can't get a price high enough to pay off their mortgages. Homeowners will even get $1,500 to help cover their moving costs. The plan is designed to help homeowners who don't have the income or debt levels to qualify for a loan modification under the Obama administration's $75 billion Making Home Affordable program...

Search Recent Home Sales In Your Neighborhood.
Instantly View Recent Home Sales in the Washington D.C. Metropolitan Area - Virginia, District Columbia and Maryland!
Find out what homes in the area are selling for with this great tool.
Click here to view a report of recent homes sales in the neighborhood and to find out your home's value instantly - it's that easy!

Click here for a complimentary market analysis of your home.

Get to know your communities!

Buying a home is about matching your desires and needs with available properties. But it's also about matching your lifestyle with the community you would like to live in. The community in which your home would be located is a very important part of your purchase decision. It's always a good idea to learn something about the community before you purchase a home in it. The information available through our partner-web sites Fairfax County Short Sale and SAAB Homes is designed to help you get to know the communities SAAB Team service.

Vienna, Oakton, McLean, Tyson's Corner Homes for Sale
Luxury Homes for Sale in the Washington D.C. Metropolitan Area: VA, MD and DC

SAAB, REALTORS® located in the heart of Tyson's Corner, Vienna VA. We service the entire Washington, D.C. Metropolitan Area and specialize in Vienna - Oakton - McLean Real Estate. Tysons Corner is a census-designated place (CDP) in Fairfax County, Virginia. Located in the heart of Northern Virginia, Tysons Corner lies between the community of McLean and the town of Vienna along the Capital Beltway (I-495). The population was 18,540 as of the 2000 census. It is the nation's 12th largest business district.
The area is home to Tysons Corner Center – the largest shopping mall in the state and in the Baltimore-Washington area – and to upscale malls Tysons Galleria and Fairfax Square, which neighbor it to the north and south. Every weekday, Tysons Corner draws 55,000 shoppers from around the region. In comparison, Washington, D.C. draws 15 million visitors annually, or the equivalent of 62,500 per weekday more...
Tysons Corner has 46 million square feet (4.3 million m²) of office and retail space, making it an important business district in its own right and the classic example of an edge city. Notable companies in the area typically use McLean or Vienna addresses rather than Tysons Corner. Tysons Corner is the opposite of a bedroom community, with a daytime population greater than 100,000 and a nighttime population of less than 20,000. Local urban planners envision up to 200,000 jobs and 100,000 residents in coming decades. To find out more about Fairfax County and it's cities visit our partner web site. For more information follow links: Fairfax County Homes For Sale | School Information | Community Reports
SAAB, REALTORS® made a commitment to serve the real estate needs of our community - one family and one home at a time. Our real estate knowledge and expertise are completely dedicated to you. Whether you're looking to buy or sell, we can get your home sold, or find you the home you've been dreaming of. Either way, our goal is to make your experience comfortable, guided, fast, and efficient. BUY OR SELL YOUR HOME IN VIENNA-OAKTON-MCLEAN, VA WITH SAAB!

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SAAB, REALTORS® Video Newsletter

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More Articles: "Move-Down Buyers Can Be Eligible For Tax Credit Too"; "Real Estate Resolutions 2010"; "How to Save to Buy a Home"; "2010 and Rebuilding or Protecting Your Credit Score"; "Real Estate Investors Returning to Market"

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Top News

Housing sales decrease in May, dashing hopes of quick recovery
Dina ElBoghdady, Washington Post Staff Writer
Wednesday, June 23, 2010
Sales of previously built homes dropped in May after huge gains the previous two months, a sign that the federal tax credit that helped energize sales at the start of the selling season has sputtered out sooner than expected. The National Association of Realtors reported Tuesday that sales of existing single-family homes, townhouses, condominiums and cooperatives fell 2.2 percent, to a seasonally adjusted rate of 5.66 million units, in May from April, snapping hopes of a robust housing recovery anytime soon. Analysts surveyed by Bloomberg had expected an increase of 6 percent. Read more...

FHA to Guaranty 50,000 Energy-Efficient Mortgages
by Gina Pogol May 3rd, 2010
The U.S. House of Representatives’ Financial Services Committee, perhaps in celebration of Earth Day, approved legislation to promote green building by granting incentives to mortgage lenders. The goal is to fund 50,000 FHA green mortgages by the end of 2012. The bill, if passed by Congress, is expected to generate 140,000 new building jobs. read more

Your FHA Loan: Minimizing Credit Problems by Avoiding Foreclosure y Karen Lawson May 4th, 2010
Homeowners with an FHA mortgage may have little home equity or negative equity due to the low down payment requirements for FHA loans. Before considering walking away from a mortgage that’s “upside down,” considering the impact of foreclosure and/or bankruptcy on your credit scores is essential. Mortgage Loan Foreclosure and Bankruptcy: Bad News for Your Credit Scores CNN Money estimates that a home foreclosure can decrease consumer credit scores by 85 to 160 points, while filing bankruptcy creates worse results by reducing credit scores by 130 to 240 points. read more

Fannie Mae to make qualifying for interest-only loans tougher
By Les Christie, staff writer
May 4, 2010: 10:21 AM ET
NEW YORK (CNNMoney.com) -- Fannie Mae, the government-backed mortgage giant, announced Friday that it would tighten lending requirements for the interest-only loans and adjustable rate mortgages (ARMs) it backs. To get a Fannie Mae-backed interest-only mortgage, for example, homebuyers will have to make down payments of 30% of the sale price. read more

The FHA’s Evolving World
by Peter G. Miller
May 3rd, 2010 News on the FHA mortgage front is both good and bad. On one hand an effort to raise the FHA down payment from today’s 3.5 percent to 5.0 percent did not pass muster with the House Financial Services Committee and is thus essentially dead. What did make the cut in HR 5072 is that if passed the bill will allow the FHA to raise annual premiums “in an amount not exceeding 1.55 percent.” The reality is that what we have here is a little back-up. The FHA is not going to institute a new and higher annual rate anytime soon. If it does, the new rate will only apply to newly-written FHA loans, meaning that if you have an interest in financing or refinancing with an FHA mortgage it might be a good idea to get such financing now rather than later. read more

FORTUNE 500 CNN Money: Our annual ranking of America's largest corporations And the winners are...
Wal-Mart knocks Exxon Mobil out of the top slot to rule the Fortune 500 again. See the full list of America's largest corporations, including detailed company profiles and contact information. read more

BEST JOBS IN AMERICA
Money/PayScale.com's list of great careers
And the winners are...
Great pay and superior growth prospects. Work that's meaningful. Those are some of the qualities we looked for when selecting America's best jobs. read more

Foreclosure fund gets $600 million to help residents of 5 more states save homes
By Renae Merle
Tuesday, March 30, 2010
The Obama administration announced Monday that it is expanding by $600 million a fund aimed at helping states tackle the foreclosure crisis with locally tailored approaches. State housing finance agencies from North Carolina, South Carolina, Ohio, Oregon and Rhode Island will share $600 million to test new approaches to helping borrowers save their homes from foreclosure. That is in addition to $1.5 billion set aside for California, Nevada, Arizona, Michigan and Florida when the program was initially announced in February. Both initiatives will be financed through the government's Troubled Assets Relief Program...

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Saab Homes | Great Real Estate | Home Buyers Scouting Report® | Become our fan on Follow us on | Post on Our | View Our Video on
Address: 2070 Chain Bridge Rd., Suite G3, Vienna, VA 22182 | Ph: 703.288.4877 | Toll Free: 888.760.SAAB | Fax: 703.848.3888
Listing data provided by Metropolitan Regional Information Systems as of Friday, September 03, 2010
Listing content comes from various brokers participating in IDX.
All information is deemed reliable but not guaranteed, and should be independently verified.
Copyright2008 SAAB, REALTORS. All rights reserved. Portions Copyright2008 Metropolitan Regional Information Systems, Inc. All rights reserved.