Minnesota VA Loans

Military Tribute Video-Pretty Awesome

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Learn About The Flags For Fallen Military

This non profit organization is helping honor fallen military with a flag & flagpole for the family of fallen military. This volunteer organization needs your support. Spread the word about the work they do and help if you can.

http://www.flagsforfallenmilitary.org/default.html

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Twin Cities Real Estate-Investment Property In Minneapolis St Paul

This is a recent power point I’ve just put together. It gives you some ideas and information before you begin investing in real estate.

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Learn More About 203K Loans For Home Fix Up Upon A Purchase As Well As Home Improvement

These guys do a pretty good job of explaining the process. Check it out. WE do have outlets for the 203K loans at this time-both streamline and FULL 203K loans. Call us today-952-285-4319 NMLS #373115 Venture Development http://www.VentureLoanApp.com

203k Home Improvement Loans Part 2 of 2

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Funny Video That Explains The Banking System & Our Economy Of Today

You will find it funny, you will find it sad, but you will find it very similar to where we are today. It is called the American Dream. It explains a lot. Watch it once, then watch it again. History repeats itself because we are such poor students of history.

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Insured Conventional Loan Vs FHA-Which Is Better

There are many factors that go into a loan decision-credit scores, down payment, debt ratios, etc. One big question is whether you should consider buying a home with an insured conventional loan using 5% down or applying for an FHA loan with 3.5% down. The information below might make that decision easier. In fact, if FHA continues to raise the cost of their monthly mortgage insurance-known as MIP-the decision may start to favor conventional loans with PMI-private mortgage insurance. Remember, everyone’s situation is different. This information just gives you one more way to look at financing your purchase.

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How Does RE/MAX Compare? Let’s look at 2011

The numbers are now out! RE/MAX is a top producing company. In many markets, RE/MAX is the leader-often head and shoulders above the competition. I have been with RE/MAX for 16 years. Prior to that, I was with another large company for 10 years. Before you select an agent, interview a RE/MAX agent. I think you will agree that there is a difference. If you’re in the Twin Cities Metro-consider my services.

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Military Tribute Videos-Cool Stuff

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Twin Cities Market Report 2010

Have you ever wished you had all the metrics of the marketplace in once nice concise report? Well now you do. Our board of Realtors compiles an annual report showing comparative data. While each home is different, pricing trends are trends. The data since the end of 2010 going into 2011 has gotten worse. If you’d like me help you interpret the information as it might pertain to your home sale or potential home purchase, just let me know. Enjoy the report.

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Can you get a Veteran Loan in excess of 417K?

The answer is YES. If you are willing to put down 25% of the amount in excess of 417K, you MAY be able to get the lender to finance 75% of the excess. It will depend on your lender, but at this time, we have investors who will do this. So, if you need a Veteran Loan in excess of 417K, give us a call.

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Underwater Homeowner Refinance Programs Extended For 1 More Year

FHFA Extends Refinance Program By One Year

Washington, DC — Federal Housing Finance Agency Acting Director Edward J. DeMarco has announced an extension of the Home Affordable Refinance Program (HARP), a refinancing program administered by Fannie Mae and Freddie Mac, to June 30, 2012. The program was set to expire on June 30 of this year. In addition, Fannie Mae and Freddie Mac will make the following adjustments to their programs: Freddie Mac will exempt HARP loans from their recently announced price adjustments and Fannie Mae will conform their eligibility date to May 2009.

The program expands access to refinancing for qualified individuals and families whose homes have lost value. HARP has grown over the past year. In 2010, Fannie Mae and Freddie Mac purchased or guaranteed more than 6.8 million refinanced mortgages. Of this total, 621,803 were HARP refinances with LTVs between 80 percent and 125 percent. This is up from 190,180 in 2009, when HARP began.

For more information on Fannie Mae and Freddie Mac refinance activity, see FHFA’s Fourth Quarter 2010 Foreclosure Prevention & Refinance Report. Additionally, homeowners can visit www.MakingHomeAffordable.gov for more information on the program.

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The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.

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WHY Pick RE/MAX?

There are lots of reasons why you might choose to select one agent or company vs another. Unless you have a best friend or relative who you “have” to use, I would like to show you how I am different. I believe I have an excellent value proposition as to why you would select me as your agent and RE/MAX as your company. I would welcome the opportunity to meet with you and discuss how I can help you meet your housing goals-whether it be buying or selling. Interview a couple of agents, you will see there is a difference. You may wonder how does RE/MAX stack up within the Twin Cities. The attached PDF’s will give you some market share information as well as agent productivity-based on a 2010 compilation of the numbers. While these are just some of the metrics on which to base your decision, success does leave clues. How can I help you?

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Down Payment Assistance Synopsis

Where there is a will, there is a way. There are many many programs today that are city specific. So, the attached synopsis is a multi county foreclosure down payment assistance pool. Basically, there is money available for purchasers of distressed homes. If you want to buy a home and are flexible in which area you make your purchase, we can try to find you some programs.

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Gifts and Grants can be considered towards borrowers funds on certain 3% down conventional loans

Yes, you read that right. I just got an email today from a leading mortgage insurance company that is willing to underwrite this loan. You will need at 740 or better score. But, what an opportunity. In many ways, this is like FHA, but with a little higher credit threshold. The KEY difference, besides credit score, is the lack of an upfront MI (mortgage insurance) premium and as well as a smaller required monthly premium. This product could be a game changer for the MI company and conventional loans.

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Purchase 80/10/10 and 80/5/15 STILL exists

As of this post, the 80/10/10 and 80/5/15 can still be done. While underwriting has allowed it, it has been very difficult to find a second mortgage product that would write a 5 or 10% second mortgage. Well, after many phone calls, we have sourced two lenders who at this time are willing to offer the second mortgage. One is a bank and the other is a credit union. As with EVERY program, the rules can and do change at any given moment. The key to both product is extremely high credit scores and a file that utilizes conservative ratios. If you don’t have at least a 700 score, this might not be something you can utilize at this time. For the 80/10/10, you will need a 740 or better score.

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What Is Your Home Worth Today?

I found a cool resource at http://www.FHFA.gov. If you go there, in the middle of the page you will find something called the Home Price Calculator. You input your home purchase information in terms of State, quarter in which you purchased and the quarter in which you’d like to get the valuation. Next, you hit calculate, and it will show you a chart. While it isn’t specific to YOUR exact home, it does give trends for your area. If you want specific information-specific to your home-within the Twin Cities metro-give me a call and we can discuss your situation. I can then give you guidance on what the value might be.

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Did you know-Current & Future Housing Data

Watch this video-then call me to help you buy or sell a new home or investment property.

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8 Tips For Finding Your New Home

A solid game plan can help you narrow your homebuying search to find the best home for you.

House hunting is just like any other shopping expedition. If you identify exactly what you want and do some research, you’ll zoom in on the home you want at the best price. These eight tips will guide you through a smart homebuying process.

1. Know thyself
Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?

2. Research before you look
List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.

3. Get your finances in order
Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing.

Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.

4. Set a moving timeline
Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.

5. Think long term
Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.

6. Work with a REALTOR®
Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality.

Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.

7. Be realistic
It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded.

On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.

8. Limit the opinions you solicit
It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.

G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

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4 Tips to Determine How Much Mortgage You Can Afford

By knowing how much mortgage you can handle, you can ensure that home ownership will fit in your budget.

Here are six surefire ways you can get your finances in order before you buy a home.

Homeownership should make you feel safe and secure, and that includes financially. Be sure you can afford your home by calculating how much of a mortgage you can safely fit into your budget.

Instead of just taking out the biggest mortgage a lender qualifies you to borrow, consider how much you want to pay each month for housing based on your financial and personal goals.

Think ahead to major life events and consider how those might influence your budget. Do you want to return to school for an advanced degree? Will a new child add day care to your monthly expenses? Does a relative plan to eventually live with you and contribute to the mortgage?

Still not sure how much you can afford? You can use the same formulas that most lenders use, or try another of these traditional methods for estimating the amount of mortgage you can afford.

1. The general rule of mortgage affordability
As a rule of thumb, you can typically afford a home priced two to three times your gross income. If you earn $100,000, you can typically afford a home between $200,000 and $300,000.

To understand how that rule applies to your particular financial situation, prepare a family budget and list all the costs of homeownership, like property taxes, insurance, maintenance, utilities, and community association fees, if applicable, as well as costs specific to your family, such as day care costs.

2. Factor in your downpayment
How much money do you have for a downpayment? The higher your downpayment, the lower your monthly payments will be. If you put down at least 20% of the home’s cost, you may not have to get private mortgage insurance, which costs hundreds each month. That leaves more money for your mortgage payment.
The lower your downpayment, the higher the loan amount you’ll need to qualify for and the higher your monthly mortgage payment.

3. Consider your overall debt
Lenders generally follow the 28/41 rule. Your monthly mortgage payments covering your home loan principal, interest, taxes, and insurance shouldn’t total more than 28% of your gross annual income. Your overall monthly payments for your mortgage plus all your other bills, like car loans, utilities, and credit cards, shouldn’t exceed 41% of your gross annual income.

Here’s how that works. If your gross annual income is $100,000, multiply by 28% and then divide by 12 months to arrive at a monthly mortgage payment of $2,333 or less. Next, check the total of all your monthly bills including your potential mortgage and make sure they don’t top 41%, or $3,416 in our example.

4. Use your rent as a mortgage guide
The tax benefits of homeownership generally allow you to afford a mortgage payment—including taxes and insurance—of about one-third more than your current rent payment without changing your lifestyle. So you can multiply your current rent by 1.33 to arrive at a rough estimate of a mortgage payment.

Here’s an example. If you currently pay $1,500 per month in rent, you should be able to comfortably afford a $2,000 monthly mortgage payment after factoring in the tax benefits of homeownership.

However, if you’re struggling to keep up with your rent, consider what amount would be comfortable and use that for the calcuation instead.

Also consider whether or not you’ll itemize your deductions. If you take the standard deduction, you can’t also deduct mortgage interest payments. Talking to a tax adviser, or using a tax software program to do a “what if” tax return, can help you see your tax situation more clearly.

G.M. Filisko is an attorney and award-winning writer who’s owned her own home for more than 20 years. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

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Two Special Twin Cities Home Buying Programs

One program is called FPP-Foreclosure Partnership Program, and the other is NSP2 Homebuyer Assistance Program.  Both programs offer incentive money for a purchase.  I can use these financing programs with one of our mortgage investors.  Consider checking them out to see if they’d work for you.

HennipenCounty-Non-forclosedHomes-overview

HennipenCounty-Nsp2-overview

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Holes For Hero’s-Medicine Lake-Plymouth MN

Thanks Veterans- guys and gals-because of your work protecting our freedom, we get to go fishing. This compilation video is from our day fishing at the first annual Holes For Hero’s ice fishing contest. It was my third time ice fishing in my entire life and a lot of fun. The weather wasn’t too bad-about 20 degrees and over cast with a breeze. You had to fish outside on the ice. The contest providers http://www.FishingForLife.org drilled the holes, lent us poles and provided us with some wax worms. My wife and daughter didn’t dress warm enough and got a bit chilled. You will see my daughter gave up fishing and hid under the blanket we brought. I have Netflix on my Iphone, so she could keep entertained. The word of the day today on my word of the day calendar was “Frigorific” which I thought was pretty coincidental. The event was well attended and even streamed live all over the world. If you were a veteran you got to fish for free. I am not a veteran, so we paid, bought food and entered the raffle. All funds go to the cause.

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Armed Forces Ice Fishing Festival

It is called Holes For Heroes. It will be at Medicine Lake in Plymouth MN on Saturday February 5th 2011 from 12-3pm. It is being presented by FishingFor Life.org Call Tom Goodrich 612-987-5466 for info. It will be simulcast to active members of the Military Oversease. FREE fishing for Military Family members and veterans. Otherwise, you need to purchase an entry ticket-$5 in advance or $10 the day of he show. If you buy a ticket and are registered, you get a shot at great prizes. They drill the hole and provide all the tackle and bait. We’re going and we’re really excited. Should be a lot of fun.

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Rebuilding Credit To Get A Mortgage

Often, especially in this market due to the recession, we find potential home buyers who have had a life event or “bump in the road” that affects their ability to obtain a new loan. If you want to buy a home, you will have to have a certain number of reporting trade lines and for certain length of time. MOST mortgage programs require 3-5 trade lines and a minimum of two years of reporting. The other criteria is the actual credit score-which generally has to be 620, 640 or even 660 as it is all lender dependent. A manual underwriting where they use alternative credit such as rent payments, cell phone bill, utility bills, and the cable bill might be able to be used-but only with a few certain programs and lenders. So, the best bet is to re-establish credit as quickly as possible. HOW ABOUT NOW!! Don’t wait-it will only extend the time until you are going to be eligible. I have put together a list of resources that might be helpful. This list is only a starting place for your research. If you find another good resource please post it in the comments below so that the list can be expanded upon.

TOP IDEAS FOR CREDIT RE.doc

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Certain Military And Federal Employees MAY Still Qualify For A Credit

It’s true, depending on when you sold your home and if it was due to a certain distance/relocation, you MAY qualify for the housing tax credit that has otherwise expired for everyone else. There is a narrow set of conditions that make it possible. See the flyer for the rules. MilitaryCredits.doc

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FHA & VA Program Criteria For Bad Credit

Sometimes “life happens” and you have a bump in the road. Different lenders have different overlay criteria. So, the FHA and VA guidelines in this flyer are simply guidelines, which means there is always underwriter discretion and specific investor guidelines that might be more stringent. FHAVADerogatoryCredit.doc

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VA Adapted Housing Grants

If you are a veteran that has had a service related disability, you may be eligible for a housing grant that can help you build or remodel your home. Here is a flyer that covers that program. You will find that some of the disability criteria are quite severe. There are actually two different programs that might work for you. Read this flyer: VAAdaptedHousing.doc

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Buying Rental Property In The Twin Cities

Have you ever wanted to own rental property, but were unsure where to start? I teach a class on the topic. I’ve decided to make the outline into a PPT. I cover the information in my class in much more depth and breadth, but this will give you a lot of useful information. If you are interested in discussing purchasing a rental property as an investment, just give me a call and we can set up a time to meet and review how I can help you become a “real estate mogul”.

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Essential Financial Planning for Returning or Deploying Military Personnel and their Families

As the United States goes into its ninth year of military action in Afghanistan and Iraq, financial planning for military personnel and their families has taken on unprecedented importance. Multiple deployments during the longest wartime period of U.S. history has added considerable strain to military family budgets already shaken by the worst economic downturn in 70 years.

One of the smartest moves military personnel can make is a visit to a qualified financial, tax or estate planner before or after a deployment — no matter how small their assets or how deep their current financial problems are. To find a qualified financial planner familiar with military personal finance, individuals can type in where they live and check the box marked “Government and Military” at the FPA’s PlannerSearch website.

Here are some personal finance starting points for military personnel and their families:

Important laws and programs to know: After the 9/11 attacks, the federal government acted to boost benefits and protections for military families. One of the first was the Servicemembers Civil Relief Act of 2003, an update of longstanding financial protections for active military and their families. The act provides stays on civil litigation including bankruptcy and divorce and prevents wage attachments while military personnel are away. Coverage requires active duty confirmation from a commanding officer but expires 90 days after that status has been terminated. The law also makes it tougher – but not impossible – for landlords to evict military families for nonpayment of rent. A second major source of assistance for military families came in 2008 with changes to the Servicemen’s Group Life Insurance plan, raising the total death benefit limit from $250,000 to $400,000. And the Caregivers and Veterans Omnibus Health Services Act of 2010 provides families of severely wounded veterans of Iraq and Afghanistan with coordinated financial and caregiving support.

Special safeguards needed against identity theft: Single military personnel need to keep a special lookout for identity theft that can happen while they’re deployed. It’s important to register an “active duty alert” with the three major credit reporting companies (Transunion, Experian and Equifax) every year. The alerts automatically stop all credit offers from being mailed to their homes. A call to any one of the credit bureaus will automatically put an alert on an individual’s file with all three agencies. It’s also a good idea to authorize a spouse or other trusted friend or family member to access credit reporting data to check for fraud during the service person’s deployment or in case of injury or death.

Note credit protections: The 2003 act also freezes credit card, mortgage and some student loan interest at 6 percent if military personnel were approved for the loans before they were called to active duty. On student loans, reservists and active duty members of the military assigned away from their permanent-duty stations may receive a deferment for up to three years on student-loan payments as well as a break on accruing interest on missed payments. Finally, deployed military away for at least six months can terminate a car, truck or other vehicle lease without penalty.

Understand tax issues: Activated and deployed military personnel receive special tax breaks at the federal and sometimes state level. Military income earned by soldiers in combat zones is tax-free and they don’t have to file taxes until 180 days after their return. Activated military personnel also are entitled to an extension on the period of time allowed for a tax break on the profits from the sale of a home. They’re also entitled to tax breaks on childcare assistance and certain travel. Nontaxable combat pay can also be considered for the Earned Income Credit.

Plan ahead for lump-sum earnings: For returning military receiving accumulated military pay or compensation from civilian employment, it’s good to sit down with financial and tax planners before the money is frittered away.

Don’t forget retirement: Military service counts toward vesting for all civilian retirement plans — even though employers may not always be required to give you your job back when you return. Also, the Heroes Earned Retirement Opportunities (HERO) Act allows tax-free combat pay to be considered as earned income for determining the contribution amount for traditional and Roth IRAs.

January 2011 — This column is produced by the Financial Planning Association, the membership organization for the financial planning community, and is provided by John Mazzara 952-929-2577 , a local member of FPA.

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Mortgage Insurance May Still Be Deductible For Some Buyers

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Is There An Opportunity Right In Front Of YOU

I just watched an amazing video which I’ve posted below called the Money Tree. There are so many different interpretations. One that struck me was that people are oblivious to opportunity that is right in front of them. How many of us are looking for something that we already have or is within our reach? How many people are NOT buying real estate today when they could be looking at this as an incredible wealth building opportunity for what it is over the long term-assuming properties rise again in value? I was showing homes this past weekend. It was incredible to see townhomes in great communities selling for 40-60% less than they had sold for just as little as 5 years before. Luckily for my client, we are going to make an offer and ACT. Watch this video and don’t let the opportunities in your life pass you by. Don’t let life pass you by. Happy New Year and may 2011 be your best yet!

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Merry X-Mas Veterans!

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Support Veterans

This email was just sent to me.  I went to the site and it is really a cool idea.

NATIONAL ASSOCIATION OF REO BROKERS, INC.

December 23, 2010

Dear John,

XEROX IS DOING SOMETHING COOL

If you go to this web site, www.LetsSayThanks.com     you can pick out a thank you card and Xerox will print it and it will be sent to a soldier that is currently serving overseas. You can’t pick out who gets it, but it will go to a member of the armed services.

How AMAZING it would be if we could get everyone we know to send one!!!    It is FREE and it only takes a second.

Wouldn’t it be wonderful if the soldiers received a bunch of these?    Whether you are for or against the war, our soldiers over there need to know we are behind them.

This takes just 10 seconds and it’s a wonderful way to say thank you.    Please take the time and please take the time to pass it on for others to do.  We can never say enough thank you’s.

Thanks for taking to time to support our military!

Sincerely,

WALTER BARNES

PRESIDENT

NATIONAL ASSOCIATION OF REO BROKERS, INC.

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National Anthem From Drive In Movie Days

You don’t see this in theaters anymore

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December Is The Time To Reflect

Are each of us doing all we can to make the world a better place? Many of us have our favorite charity and organizations we support. RE/MAX is a very large sponsor of Children’s Miracle Network. Many people don’t realize how much has been given. Each time I sell a home, I automatically donate a portion of my commission to this organization. Other RE/MAX agents like myself contribute from their commission checks as well. Together, with RE/MAX we have collectively given over 100M. I would encourage everyone to consider finding an organization they believe in and make giving a part of their life. Just imagine what the world could look like?

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Getting Ready to Sell Your House

While most experts see little good news in 2011’s housing market, economic downturn is no reason to neglect maintenance on a home or lose sight of future plans to relocate.

The critical issue is planning intelligently for what spending you do now to make sure it’s worth your money later. And even if your plan to sell your property is more than a year away, it’s not a bad idea to get your finances in order as well. In the coming months, you’ll be addressing tax issues, so it’s a good time to look at your overall financial picture with a qualified financial planner as well as a trained tax expert.

The October MacroMarkets Home Price Expectations Survey doesn’t see a meaningful increase in home prices until 2012, though appreciation is expected to go up on average more than 14 percent through 2014.

As you wait for your opportunity, here are some ideas to incorporate in your planning:

Check your credit report and score: If you plan to finance a new property once you sell, it makes ample sense to lower your debt and clean up any discrepancies in your credit data well in advance of any move into the market. Remember, you are entitled to one free copy of each of the major credit reports in any given year, and you can obtain them from one resource – www.annualcreditreport.com. Avoid all the services with expensive TV commercials calling themselves “free” – if they ask for a credit card number, you are not getting a free report. Also, so you can spot discrepancies and keep a watchful eye on the possibility of ID theft throughout the year, stagger your receipt of your reports from Equifax, Experian and TransUnion (the major credit ratings agencies) at different points during the year.

Get a home inspection: Go through local channels – lenders, friends, real estate professionals you trust – to find a licensed home inspector who can look over your property and help you develop a list of potential repairs and upgrades that you can do economically given that you’ll have months before you put the property up for sale. Checking your home’s structure – roof, foundation, windows, etc., as well as its mechanical parts – heating/AC, installed appliances, plumbing – can give you an early warning system for expensive repairs that a prospective buyer’s inspector would find anyway. Try now to make sure there are no problems that will kill a deal later.

Ask a trusted broker for advice: Structural experts can determine whether your home is working properly – real estate brokers may or may not be equally expert at spotting these flaws. But generally, they can be trusted on matters of appearance – whether the grounds around the home are well maintained as well as whether the home’s interior is inviting to the eye of potential buyers.

Don’t overinvest in improvements: In the 1990s, spending $40,000 on a kitchen in many neighborhoods could recover that amount of money and more in the final sales price. In today’s market, those payoffs are a distant memory. Experienced brokers generally do a good job steering you away from overpaying for improvements, but there are other resources to doublecheck the spending you’re planning to do. Remodeling Magazine’s latest Cost vs. Value report provides estimates on specific projects by region, including projections on cost recoupment.

Appeal your property taxes: If you’ve never appealed your property taxes before or have not done so in many years, do so when your appeals period is open. Lowering your taxes as much as possible may help make your property more salable.

Declutter and don’t re-clutter: Start making a list of items you might donate – furniture, clothing, household items, etc. Make sure they’re in good condition and if you’re having trouble setting a value, check on eBay or other auction sites to see if you’re being fair to yourself while not drawing the attention of the taxman.

December 2010 — This column is produced by the Financial Planning Association, the membership organization for the financial planning community, and is provided by John Mazzara 952-929-2577  john@johnmazzara.com , a local member of FPA.

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HUD Has A YouTube Channel-Here Is There Vid On Buying A Home

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Google lets you create cool templated websites

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Refinance Conventional To VA loans at 100%

See the attached news release from the VA.  While this is allowed by the VA, I can’t find an investor/lender who will do the loan. If someone has completed a refinance-moving from a conventional loan to a Veteran loan at 100% ltv, please let me know.  All of my investor outlets will only go to 90% on this type of refinance.

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Returning Veteran Career Opportunities

I own a Hyundai Genesis and love it.  I just took a survey for the recent work I had done.  I noticed they had a link for job opportunities for returning veterans and thought I’d share it with all of you.

http://www.hyundaicareers.com/info_on_careers_army.asp

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Can Home Ownership Contribute To Your Wealth?

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Minnesota Foreclosure And Distressed Home Fact Sheets PLUS Twin Cities First Time Buyer Special Programs

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Twin Cities Foreclosure Update

Here is our latest newsletter that has updates on foreclosures in the Twin Cities.

Also, watch the video below

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Minnesota First Time Home Buyer Tips

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Top Seven Tips For Home Buyers

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For Vets-Fannie Mae Will Offer 6 month Forbearance

If you are a family who has a service member who has been injured or killed in the line of duty, you may be eligible for this program.  I was just told about this today, so I don’t have a lot of information.   You will want to call and discuss this with your existing loan servicer if you have a Fannie Mae Loan.  In case you need the explanation of how a forbearance generally works, visit  http://en.wikipedia.org/wiki/Forbearance

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Data.gov - A Cool Site With Lots Of Great Info

http://www.Data.gov I just found this site and wanted to share it.  It has a ton of info and reports.  If you have a project or just an “inquiring mind”, this is sure to be a hit.  Check it out and get the data you need.

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Veterans Aid and Attendance Pension Benefit - Long Term Care Benefits for Veterans

By Thomas Day

Veterans Aid and Attendance Pension Benefit — Long Term Care Benefits for Veterans What Is the Aid and Attendance Benefit? The Veterans Benefits Administration offers a disability income available to veterans who served during a period of war or to their surviving spouses. This special benefit is officially called “pension” but is more popularly known as the “veterans aid and attendance pension benefit”. For a pension benefit for veterans younger than 65, evidence of total of disability must be provided. Veterans 65 and older do not have to disabled.

The National Care Planning Council estimates that as much as 30% of the US population over the age of 65 would qualify for the aid and attendance pension benefit under the right circumstances. That’s how many war veterans or surviving spouses of veterans there are. The benefit is such a well-kept secret that only a small fraction of these eligible veterans are actually receiving it. Death pension — a benefit available to a surviving spouse– is a lesser amount based on the same rules for applying for a living pension claim. In other words, the deceased veteran must have met the rules for pension — with the exception of being totally disabled or over age 65 — or have been receiving pension in order for his or her spouse to receive the lesser benefit. In addition, in order to be eligible or keep receiving the benefit, the surviving spouse must remain single.

Who can submit a claim? A claim is submitted by the veteran or by the veteran’s single surviving spouse in the case of a death claim. A duly appointed service organization, an employee of the local regional VA office, or a VA approved agent may file a claim on behalf of the veteran or the spouse. A claim cannot be filed with a general or durable power of attorney. The application will be sent back requesting proper documentation for a VA power of attorney. The veteran must sign a document specifically authorizing a power of attorney for someone to submit an initial claim for him. Many chagrined children with a durable power of attorney have submitted claims on behalf of a parent only to have the claim rejected by VA.

What happens if the veteran is incompetent? If the veteran cannot submit the original application or sign a power of attorney for a surrogate to file an application, then a duly appointed guardian can complete the application. VA also allows the spouse, a parent or next of kin, or a friend to complete and submit an application on behalf of an incompetent veteran if that person submits the proper power of attorney request and indicates the applicant could be considered incompetent for financial affairs. Even though the veteran or surviving spouse may be incompetent for financial affairs, he or she should always sign the power of attorney request if he or she is competent to do so. VA may appoint a fiduciary to take over the claim and the affairs for the claimant if VA determines he or she is incompetent.

How does VA handle power of attorney? Employees of VA and veterans service organizations already have authorization for power of attorney to file an application on behalf of the veteran. They have forms for the veteran to sign to allow this to happen. An attorney representing the veteran in other affairs can also request a power of attorney in the proper format and on his or her letterhead. Any single individual may also submit a letter requesting power of attorney to submit an application if it is signed by the veteran and if the letter provides certain required information. There is also a VA form in the book support packet that can be submitted for power of attorney. All attorney requests submitted for power of attorney must state that the veteran is not paying a fee to file the application on his or her behalf.

What is an “aid and attendance” or “housebound” rating? A “rating” is granted by a veteran service representative where a condition exists that makes the disability more severe. Medical evidence is required unless someone is a patient in a nursing home, and then the requirement is waived. The rating allows VA to pay an additional monthly amount of pension or compensation to a veteran or a surviving spouse for additional costs associated with this disability.

How does one qualify for aid and attendance or housebound rating? The application form has a block allowing for a request for either rating. Submitting medical evidence in advance instead of waiting for a request from VA can help expedite the process of getting this rating. We have provided in the book support packet, a sample form that might be used for this purpose. This form is also designed around information that VA is looking for and may be a more effective presentation of the facts than typical medical records from the doctor.

What is the effective date? The effective date is generally the day VA receives an original application. If it takes three months for the process of approval or six months, it doesn’t matter. The effective date still reverts to receipt of the original application.

When does payment begin? Generally, payments start on the first day of the month following the month of the effective date. This means that if it took six months to get approval, at least five months of benefit will be paid retroactively. VA requires automatic deposit of awards in a checking or savings account.

What happens if the veteran dies during the period of application? If the veteran dies during the period of application and the application was not approved prior to the death, there may be accrued benefits. If the regional office had all of the information in its possession that would have led to an approval, then there is an accrued benefit payable. Otherwise there is none. The full benefit is available for the month of death of the veteran and to a surviving spouse through an application on Form 21-534. This is the same form a surviving spouse uses for a death benefit claim for himself or herself. VA will award either an accrued benefit or death benefit to the surviving spouse whichever is larger. If there is no surviving spouse or dependent child, VA will pay the unreimbursed costs of last illness and burial to the person who paid those costs. A special claim must be submitted for these costs, not Form 21-534.

What is a veteran’s federal fiduciary, and does that affect the application? For a veteran who is considered incompetent to handle his own financial affairs, VA will appoint a fiduciary to receive the money and pay the bills. A federal fiduciary is an individual appointed for this purpose, usually a spouse or a family member. In most cases — except for the spouse living with the veteran — there is an interview required and mounds of paperwork. This process can take a long time, and it is to the advantage of the person filing an original claim to request the appointment of himself or herself as a fiduciary or for some other appropriate person or organization to help expedite the process. VA always makes the final decision on whom it appoints as a fiduciary. In fact, the agency might well ignore court appointed fiduciaries. In general, the decision favors declaring the veteran competent and avoiding a fiduciary where at all possible.

What is the income test for pension? If the household income adjusted for unreimbursed medical expenses and a deductible is greater than the maximum allowable pension rate — MAPR — there is no benefit. In 2007, the maximum allowable rate for a couple with aid and attendance allowance is $21,615 a year. For a single it is $18,234 a year. Without aid and attendance or housebound allowance the maximum couple’s rate is $14,313 a year and for a single it is $10,929 a year. Death pension rates are lower. People seeking a benefit with adjusted incomes greater than these levels will be denied.

Can a household with income above the maximum limit qualify for pension? A quirk in the way benefits are calculated can allow individuals and couples earning between $24,000 to $60,000 a year to still qualify for a benefit. It has to do with the treatment by VA of the very large recurring medical costs associated with home care, assisted living, or nursing home care.

What is the pension household asset test, and what can be done if the asset test is not met? As a general rule assets cannot exceed $80,000. A veteran or spouse occupied-house, a reasonable amount of land upon which it sits and a vehicle are exempt from the asset test. In reality there is no specific test in the regulations. Veterans service representatives are required to file paperwork justifying their decision if they allow assets greater than $80,000. Thus this amount has become a traditional ceiling. The service representative is encouraged to analyze the veteran’s household needs for maintenance and weigh those needs against assets that can be readily converted to cash. In the end, the decision as to allowable assets is a subjective decision made by a service representative. In certain cases a benefit award could be denied even if assets are below $20,000 or $10,000 or even zero dollars. There are legal ways to get around the asset test if assets are too high. These are described in our book.

What proofs and documents are required with the pension claim? We have already discussed the requirements for power of attorney and fiduciary if they apply. In addition, an original copy of the discharge from service — typically DD 214 or form WD — is required and the discharge must have been honorable. If there is a question about the marriage relationship, a marriage certificate or other proof may be necessary. Birth certificates of dependent children are usually not required but may be necessary under certain conditions. A dependent child is a minor, a dependent student under age 23, or a totally dependent adult child. There are certain documents that need to be submitted to prove future recurring medical expenses and to prove need for aid and attendance or housebound allowances. VA does not furnish these documents nor provide any information that they are required. Sample documents that could be used for these purposes are included in our book.

Can someone charge to help fill out the form? Federal code and VA regulations prohibit an agent, advisor or attorney from charging a fee to fill out and file a claim for pension. Most practitioners or providers help their clients for free, sometimes in the context of solving other retirement issues or providing long term care services. Some practitioners offer application advice for a fee (which is legal) but will send their clients to a veterans’ service organization to complete the application. Some assisted living facilities or home care providers also offer free advice or help and this seems to be an acceptable practice. An agent or attorney can also be paid by a disinterested third party under certain conditions to complete an application. However, a home care agency, assisted living facility or nursing home that pays an agent or attorney to complete an application on behalf of a resident or client does not meet the definition of a disinterested third party is in violation of the prohibition for charging a fee

How are assets, income and unreimbursed medical expenses determined? The applicant must submit details on the application of all income and all assets including retirement savings accounts such as IRAs. Almost any type of money received or anything received that can be converted into money is income. The only exclusions for assets are a personal residence (occupied by the veteran or spouse) and a reasonable amount of land it sits on as well as vehicles and other personal possessions. Personal possessions used as an investment such as a coin collection are counted as assets. Unreimbursed medical expenses can be almost any expense related to medical needs.

Are there any other reporting requirements? VA requires that any change in income or assets be reported immediately. The award is calculated for 12 months in advance, but at the beginning of each calendar year, a formal report called an EVR (Eligibility Verification Report) must be filed detailing all income, assets and unreimbursed medical expenses for the coming calendar year. For example if the award is granted in April for 12 months in advance, an EVR must be submitted in January of the next year that could affect the award amount for the remaining four months of the initial 12 month period. The EVR will be used for determining benefits for the calendar year on which it is based.

What is a veteran’s federal fiduciary, and does that affect the application? VA can appoint a number of different types of fiduciaries to manage the funds on behalf of an incompetent veteran. A federal fiduciary is typically an individual such as the spouse or a child whom the VA is most likely to appoint. If VA is not notified with the application that the veteran may be incompetent and that a fiduciary appointment is requested, this could slow down the application and approval process.

Will the pension benefit pay a nonlicensed homecare provider? VA does not pay providers directly but provides extra income to make up for the cost of licensed medical care. Medical conditions or injuries or diseases that require a need for ongoing licensed homecare will allow the applicant to reduce household income by the cost of homecare making it possible to receive the additional income from a pension award. If the beneficiary has an aid and attendance or housebound allowance, VA will allow deductions for nonlicensed providers as well.

Will the pension benefit pay a member of the family to provide care at home? As explained above, VA will not pay providers directly but only indirectly through extra income. If the beneficiary receiving care in the home has received a rating for aid and attendance or housebound, VA will allow expenses paid to a family member for care to be counted as unreimbursed medical expenses to qualify for the benefit. The care arrangement must be legitimate and appropriate evidence must be provided.

Does the pension benefit pay the costs of a nursing home? The application form has provision for indicating residency in a nursing home and whether or not the applicant is eligible for Medicaid. VA will automatically apply the monthly cost of the nursing home in determining the pension benefit. If the applicant is single with no dependent children at home and is eligible for Medicaid, VA is required to stop any payment of full benefits and only provide the veteran with $90 a month.

Does the pension benefit pay the costs of assisted living? As explained above, VA will not pay providers directly but only indirectly through extra income. If the beneficiary receiving care in assisted living has received a rating for aid and attendance or housebound, VA will allow expenses paid to assisted living for aid and attendance or housebound ratings — including room and board — to be counted as unreimbursed medical expenses. The cost of assisted living being used as a retirement residence is not considered a medical expense. It does not warrant a rating and cannot be deducted.

What are the requirements to receive a death pension benefit? The applicant must be a surviving spouse or a dependent child of an eligible veteran. VA form 21-534 is used to apply for death pension, death compensation, accrued benefits, or dependency and indemnity compensation (DIC). The surviving spouse must be single. A surviving spouse of any age is eligible as long as the deceased veteran served at least 90 days during a period of war. They had to be married at least a year prior to death or have a child as a result of the marriage. There is no requirement for total disability for the surviving spouse nor for the deceased veteran to have been totally disabled or older than age 65.

How does one prove that unreimbursed medical expenses will recur every month? VA has specific rules for proving future recurring medical expenses. Information in our book outlines the type of paperwork that must be submitted for each type of long term care service. The book also contains appropriate forms for this purpose. Neither the claims form nor information from the regional office provides any guidance on the rules for proving future recurring medical expenses for home care or assisted living. One simply has to know how to do it. This one crucial step often makes the difference between a successful claim and a denial.

What if the veteran or spouse is currently receiving Medicaid? Our interpretation of the rules leads us to believe that VA will not consider Medicaid payments as income. However, Medicaid will consider the nonallowance portion of the pension to be income. This could affect Medicaid eligibility in income test states. There is evidence that some income test states count the entire pension benefit including the allowance as income. According to federal Medicaid rules this should not happen.

What happens when the veteran or spouse wants to receive pension & Medicaid together? Federal law requires that a single veteran receiving Medicaid with no spouse or dependent children can receive no more than $90 a month from VA. Veterans in state veterans homes are exempt from this requirement. The veteran with a spouse can receive the benefit to help defray the costs of a nursing home. As a general rule, the pension benefit would probably not work if Medicaid were paying the bill. But the benefit does work well for non-Medicaid nursing home beds and while the recipient is going through the Medicaid spend down.

This article is an excerpt from the book — “VETERANS AID AND ATTENDANCE BENEFIT — LONG TERM CARE BENEFITS FOR VETERANS” — published by the National Care Planning Council and written and edited by Thomas Day, Council Director. This first-of-its-kind book is available in two editions — the Standard Edition (209 pages) for the general public and the Professional Edition (443 pages) to be used as a handbook for advisors and care providers. Both books contain the necessary information and forms to complete an application for the benefit. The Professional Edition also includes citations from rules and regulations, hypothetical planning cases, asset reduction strategies and a software CD with benefit estimate software, all applicable forms and planning sheets. To review and purchase the book go to http://www.longtermcarelink.net/a16veterans_books.htm or type in your browser window www.veteranbook.com.

Thomas Day specializes in the area of long term care planning. As director of the National Care Planning Council and chief spokesman for the Utah Elder Care Planning Council he maintains a busy schedule giving advice to concerned caregiving families and conducting radio and reporter interviews. He is also responsible for maintaining several Internet sites one of which, http://www.longtermcarelink.net is a frequently visited and popular site for long term care issues. The site currently is receiving the equivalent of 6 million hits a year. Tom is also busy writing articles and has completed three new books on long term care planning published by the National Care Planning Council.

Tom graduated from the University of Utah with a BA in physics and math and an MBA in finance. He holds a CLU designation from the American College. Tom and his wife Susan live in Centerville, Utah. They have seven children and 17 grandchildren.

Please contact Tom at 800-989-8137 or tomday@longtermcarelink.net

Article Source: http://EzineArticles.com/?expert=Thomas_Day
http://EzineArticles.com/?Veterans-Aid-and-Attendance-Pension-Benefit—Long-Term-Care-Benefits-for-Veterans&id=561773

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Veteran Challenges Within the VA System

Veteran Challenges Within the VA SystemBy Peter Hans Johansen

Veterans, whether in-active, active, in reserve, or other supporting role encounter day-to-day challenges combined with various human and diverse cultural interactions. Furthermore, veterans endure sacrifices through distance voyages, long-term family separations, endurance, and commitments such that others may enjoy or benefit from freedoms those veterans serve and protect. In addition when combining roles of veterans with other responsible positions develops high-esteemed candidates for any responsible organization. In essence veterans create high rankings for protecting individual freedoms, which unfortunately become unrecognized by Daniels or managers of Veteran Administration officials.

For instance, General Eric Shinseki performed meritorious service throughout his career path. Furthermore, wounded in Vietnam combat to becoming the Army’s Chief of Staff, General Eric Shinseki was awarded the Defense Distinguished Service Medal. In addition General Eric Shinseki became recognized by the Honorable President Barack Obama, who appointed General Eric Shinseki as Secretary of Veteran Affairs. In essence General Eric Shinseki became recognized for his service, commitment, and due diligence within his command structure. As stated by the Department of Veteran Affairs (2009), “Following the September 11, 2001 terrorist attacks, he led the Army during Operations Enduring Freedom and Iraqi Freedom and integrated the pursuit of the Global War on Terrorism with Army Transformation, successfully enabling the Army to continue to transform while at war.”

Similarly, Honorable Senator John McCain endured numerous challenges from his military career to continued Congressional representative persistence. While volunteering for military service during the Vietnam War crises, Senator John McCain encountered dangerous missions including many low-flying bombing raids from carrier-based operations. Unfortunately, low-flying bombing raids have risks and Senator John McCain’s plane was shot down resulting in various injuries. In any event, Senator John McCain through perseverance and determination survived the crash including prisoner of war activity. As stated by Biography.com (2008), “He broke both arms and one leg during the ensuing crash. McCain was moved to Hoa Loa prison, nicknamed the “Hanoi Hilton,” on December 9, 1969.”

Additionally, other veterans such as Harold Samberg, gave enormous sacrifices such that others can appreciate or enjoy the liberties, which exist today. For instance, Samberg being a WWII veteran and prisoner of war endured many challenges under occupied Nazi Germany. As quoted by Samberg (2008), “Everybody did what they had to do.” In essence Samberg understood sacrifice and what Samberg was fighting for. As stated by Weber (2008), “Last Wednesday, U.S. troops in Afghanistan flew an American flag in honor of Samberg. He is expected to receive the flag sometime next week.” Hence Samberg as other veterans rank high enough resulting from sacrifices during time of service understood the commitment required for freedom to flourish.

Furthermore, as veterans such as me and others endured sacrifices committing 24/7 service toward peace and freedom, veterans such as I received honorable discharges and other medals for recognition toward such sacrificed service. In essence veterans rank high enough through preferences for committing sacrificed service. As stated by Mason (2009):

In speaking of the flag he encouraged people to remember that the white stripes represent purity of purpose; the red stripes courage and our willingness to die if necessary for American ideals; and the blue represents the tranquility upon which our states are united “to hold intact all that is truly ours.

In addition as stated by Brook (2003), “A 20-year military veteran, Staff Sgt. Philip Collins, 49, was days away from retirement when he got the call to active duty.” In essence Staff Sgt. Philip Collins understood sacrifice as other veterans understand sacrifice through respective and courage’s meritorious service.

On the other hand, honorable veterans, who understand sacrifice, seek positions within the Veteran Administrations (VA), high-ranking employees inside the VA seek outside assistance for fixing GI bill payment disasters; high-ranking VA employees steal from homeless veterans; high-ranking VA employees require same veteran applicants applying for same position multiple times; high-ranking VA employees collect bonuses as veterans await benefit payments; high-ranking VA employees position files ready for shredding even as veterans are suffering. In essence high-ranking employees within the VA create incomprehensible and insulting decisions to qualified and honorable veterans. Furthermore, as stated by Whittington (2009) and reflecting upon Sotomayor comments, “I would hope that a wise Latina woman with the richness of her experiences would more often than not reach a better conclusion than a white male who hasn’t lived that life.” Similarly, I would hope that a high-ranking VA employee, who has not lived that life, would recognize a German, Jew, and veteran with cultural experiences toward assisting other veterans and developing or creating a wise decision.

For instance, honorable and high-ranking veterans apply for positions within the VA organization, who desire toward making a difference using individual veteran training and aligned experiences. In addition when using veteran experiences, veterans can relate toward other veterans through similar experiences exposed throughout military service. Unfortunately, when veterans such as I or others apply toward positions within the VA, veterans such as I receive insults such as “not ranking high enough or “decisions not made,” whereas high-ranking VA employees collect bonuses for delayed decisions. In other words, as stated by Daniel, “most positions require multiple applications for the same position.” Hence, delayed or multiple applications create VA bonuses or a beggar’s society whilst veterans are exhausting respective lifelines. As stated by Ure (2009), “While hundreds of thousands of disability claims lay backlogged at the Department of Veterans Affairs, thousands of technology employees at the department received $24 million in bonuses.” As additionally stated by Gerson (1990), “…on the inadequate systems to care for homeless people [and! take a hard look at why people beg.” In essence and as Michael Moore revealed, can delayed payments or delayed hiring practices guide high-ranking VA employees receiving bonuses for relevant actions? Furthermore, can delayed hiring practices or multiple submittals contribute toward a veteran’s homeless society? As additionally stated by Scott (2009), “It is illogical to put a cap on VA funding when it is impossible to put a cap on the number of those wounded and injured in service to their country.” Similarly, placing a cap on hiring veterans currently at 30% seems unsound when veterans provide 100% service toward protecting America’s freedom.

Nonetheless, as honorable veterans attempt toward securing a VA position, other high-ranking VA workers manage stealing from homeless veterans. For instance, veterans stand downs are for veterans providing veterans with uplift and encouragement, which will add spirit toward veteran’s personality. Unfortunately, as homeless veterans seek desired goods, high-ranking VA employees find means toward reclaiming such goods. As stated by Scott (2009), “How can a VA employee believe that something donated to a homeless veteran belongs to them?” Unfortunately, as stated by Scott (2009), “..staff will be provided amnesty if merchandise is returned voluntarily…” In essence high-ranking and confiscated-goods employees receive amnesty as capable and honorable veterans receive homelessness.

Nevertheless, as honorable veterans endeavor toward securing a VA position, high-ranking VA employees focus toward retirement, collecting bonuses, or positioning files ready for shredding as veterans are suffering or awaiting benefits. For instance, individuals such as I seek basic information from individual records. Unfortunately, when requesting information, response of “We have been unable to locate the record needed to answer your request” occurs. In essence high-ranking employees cannot locate basic records for implied low-ranking veterans. As stated by Scott (2009), “A letter, apparently from a VBA employee, telling a widow that other employees have hidden files necessary to her late husband’s claim… and, then, it appears VAOIG is investigating the widow!” In other words, if a screening process is in place toward hiring high-ranking employees, then calamities of various incidences would not take place. On the other hand, if attempts toward hiring only a 30% veteran workforce, then misalignments will take place. As further stated by Scott (2009), “…brazenly admits that VA employees deliberately removed medical records from her late husband Robert’s file.” In essence lost paperwork can result in lost payments. Similarly, un-written answers toward hiring questions can result in implied low-ranking candidates. As stated by Maze (2009), “A new report about Veterans Affairs Department employees squirreling away tens of thousands of unopened letters related to benefits claims is sparking fresh concerns that veterans and their survivors are being cheated out of money.” Hence high-ranking VA employees deny veteran’s benefits and create shredding exercises for honorable and sacrificed veterans.

Nonetheless, as capable and honorable veterans seek positions and growth within the Veterans Administration assisting with various claims and decision processes, high-ranking VA employees seek outside assistance toward VA benefits processing. In other words, delayed hiring techniques create other dilemmas within the Veterans Administration Center. As stated by Scott (2009), “In what can only be called an act of desperation, the VA is now admitting that they can’t process claims for the New G.I. Bill in a timely manner and are seeking outside assistance.” In essence processing G.I. Bill benefits requires outside assistance. Furthermore, denied employment for capable and honorable veterans will delay future processing decisions. As further stated by Scott (2009), “…never once mentioning the tens of thousands of veterans who are not getting their G.I. Bill payments on time.” As additionally stated by a veteran:

Great job Larry! Please keep up the heat on these people. My VA claim was submitted by my school to the VA 10 weeks ago and I have not heard a peep. I had to take out a student loan because of the VA’s ineptness. I was told today by the Atlanta RPO that i have 6 more weeks to wait. As USAFRet said, let them all RESIGN NOW! They have failed the veterans, how many of these guys ever gave a minute for their country in a foreign land or at all? TEAR IT DOWN!!!!!!!!!!!!!!

In the meantime, senior management is constructing revised missions, which reduces veteran’s homelessness. In essence achieving veteran homelessness shows appreciation toward a veteran community. As stated by Levine (2009), “‘My name is Shinseki, and I am here to end veteran homelessness,’ VA Secretary Eric Shinseki said Tuesday in a speech to the National Summit on Homeless Veterans.” However, as senior management focuses toward reducing veteran homelessness, management comments of “attempt toward finding three veterans,” “not ranking high enough,” or “requiring multiple applications” creates a path of homeless direction. Furthermore, as stated by Allers, Ph.D. (2009), “Today’s conditions can lead to much worse than begging.” Additionally, as stated by another veteran:

There are some good people that are not vets, but for the most part, they should be hiring veterans with the proper background in the respective field. My local VAMC has 29% veterans. The Milwaukee VAMC has 31%. I would bet that is the same for the rest of the country. If that were scores on a test they both would be flunking!

In conclusion, honorable veterans seek positions within the VA organization using education and experiences, which are relevant toward other veterans. In addition, when veterans helping veterans exists, then relevant experiences can take place. Furthermore, when a desired goal toward reducing veteran homelessness becomes a viable mission, then veterans-helping-veterans becomes a solution. On the other hand, when VA managers create obscured hiring decisions or comments, then various dilemmas as aforementioned will occur. Furthermore, high-ranking employees within the VA would not create mischievous activities or require watchdog organizations from occurring.

References:

Maze, R. (2009). Unopened claims letters hidden at VA offices. HCVets.com. Retrieved November 3, 2009, from website http://www.hcvets.com/SurveillanceAlerts/090304Unopenedclaimshidden.htm.

Scott, L. (2009). VA EMPLOYEES STEAL FROM HOMELESS VETERANS. VA Watchdog.org. Retrieved November 2, 2009, from website http://www.vawatchdog.org/09/nf09/nfoct09/nf101909-1.htm.

Note: Article derived from personal experiences combined with research. Additional references or comments can be obtained via phjohan@hotmail.com

Article Source: http://EzineArticles.com/?expert=Peter_Hans_Johansen
http://EzineArticles.com/?Veteran-Challenges-Within-the-VA-System&id=3231121

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Check Out Energy Rebates

EnergyStar.gov — Check Out Energy Rebates

This is a government site that offers lots of energy saving tips as well as explains what energy saving grants or credits might be available.

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Twin Cities Foreclosure Trends-From our MLS & Realty Trac

Besides the board of realtor sites:  http://theThing.mplsrealtor.com and market data posted elsewhere at http://www.MplsRealtor.com I have a subscription to Realty Trac.  My subscription gives me additional data about foreclosures and trends within certain zip codes.  This is in addition to my daily subscription to Finance & Commerce (a business newspaper that prints all the foreclosure information as well as very timely articles regarding the business community).  If you are looking for someone who has experience and access to information about distressed sales, we need to be working together.  Whether buyer or seller-I can help you understand the market we are in and the options and opportunities available to you.  Give me call today.

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Real Estate Information

These are a couple of my newsletters that have a ton of valuable information. Go check them out.

Foreclosure Market Trends Newsletter
http://www.realtytrac.com/MarketTrends/NewsLetter.aspx?guid=131bd355-1b69-4bd1-99cd-2f0c9a936810

Real Estate Cyber Space Tips
http://www.REcyber.com/cybertips/r11627

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Moving Video & Tribute

Why is it that we forget?

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Financial Assistance For Elderly Veterans and Their Widows is a Well Kept Secret

Financial Assistance For Elderly Veterans and Their Widows is a Well Kept SecreBy Sonja Kobrin

Ask an elderly Veteran if they are aware they may be eligible for a pension from the Veteran’s Administration and they will tell you “I’m not eligible because I was not injured in the War.” This is a common misconception which keeps many Veterans from tapping into a benefit they well earned by serving our country. The fact is elderly, disabled Veterans and their widows may very well qualify for large sums of money, but they have to apply for the funds. There are several Veteran pensions, but the pension designed to help elderly Veterans and Veteran’s Widows pay for costly Home Health Care, Assisted Living Facility or Nursing Home fees (if the Veteran is not covered by Medicaid) is called Special Monthly Pension with Aid and Attendance. The pension can pay a married Veteran up to $1,949.00 per month, an unmarried Veteran up to $1,644.00 per month and a Veteran’s Widow can receive up to $1,056.00 per month. The amount one receives is based upon their medical expenses and their current financial and medical status. The pension is paid by check directly to the Veteran or Veteran’s Widow every month as long as they meet the criteria.

The Special Monthly Pension with Aid and Attendance is the government’s best kept secret. I cannot tell you how many seniors have told me that they called Veterans Affairs and were actually told that this pension does not exist or that they do not qualify. For thirteen years, I have assisted Veterans and Veteran’s Widows in obtaining these funds - they really do exist.

To get the maximum pension amount, a Veteran must qualify medically and financially and must have served their country for at least one day during “War Time”. Also the Veteran must have been honorably discharged. Every case is considered individually. If a Veteran or Veteran’s Widow feels they may qualify, they can apply for the pension. The pension can take many months to actually be approved. The average waiting period is three to eight months. The first check will be retroactive to the month the application arrived at the Veterans’ Affairs, therefore the first check may be for thousands of dollars. Subsequent checks will arrive monthly for the approved amount. This pension money can mean the difference between affording adequate care for an aging Veteran/ Widow or having no care at all.

As with any governmental program, success is all in the paperwork. The pension application is many pages long and some of it is in essay form. It is the exact wording used in the essay areas that mean the difference between approval and denial. Also, Veteran’s Affairs does not tell Veterans about all the supporting documents that they would like to see. The better the medical and financial records, the better the chances are of approval. Including the right medical forms signed by a doctor is very important for approval. Also typical of governmental red tape is the frustrating lack of communication. Once the application is filed and in the process of being reviewed, it is nearly impossible to get an update or check on the status of the application unless the Veteran/ Widow make the call themselves. For most of our clients, they are too ill or too confused to make a call like that.

In a perfect world, financial assistance for those who qualify should be easily accessible and easy to get. But the reality is that government agencies are inherently complicated and their application processes are never self explanatory or simple. Ignorance of the rules is no excuse and no one will tell you the rules. The rules are written in a handbook, but the Veterans Affairs is not allowed to give them to you. Seasoned Eldercare professionals can often navigate these processes for you. They may charge for their services, but to attempt to do it yourself and have your application denied, will cost much more money. The Department of Veterans’ Affairs supposedly employs staff to help Veterans and their Widows apply for these pensions for free, but it is these very people who have told so many seniors that they do not qualify, when in fact they could qualify if they made one small change. Perhaps Veteran’s Affairs is afraid that if they made it easy for every Veteran to apply, the pension fund would go broke. Given that War Time includes the Gulf War Era which began in 1990 and has not ended yet, I anticipate the pension fund will one day be either broke or impossible to get. For now, the money is very much available and attainable.

Here are the Special Monthly Pension with Aid and Attendance eligibility criteria for the year 2008.

1) Veteran served in the Military for at least one day during War Time or had a spouse who served at that time. Spouses are people whom you never divorced.

2) Honorably Discharged from the Military.

3) Currently has medical or psychological condition which make the Veteran or Veteran widow dependent on the aid or assistance of a non- family member in order to meet their daily care needs or they reside in an Assisted Living Facility or Nursing Home ( not on Medicaid). This claim must be supported by physician signed forms, financial data and medical records.

4) Veteran Financial Criteria: Have assets in their own name below $80,000 (if married) or below $50,000 (if single). The car and house does not count as an asset. Annual income below $19,736,.00 (if single) or $ 23,396.00 (if married) after all medical expenses such as insurance premiums/copays, assisted living facility fees, paid caregiver salary, medications, medical transportation/ supplies, certain housing expenses, etc.

5) Veteran Widow Financial Criteria: Assets below $50,000 and income less than $12,681 per year (after medical expenses listed above).

6) Note: Income figures are AFTER MEDICAL EXPENSES. VA may require someone of advanced age to have fewer assets than quoted above. We have seen this when applicants are near 100 years old.

In many cases, if a person has a paid care giver, such as a nurse’s aide, or they pay an assisted living facility, or they pay out of pocket for a nursing home, those expenses impact so greatly on a person’s net income, that they will meet the criteria for the income level.

If a Veteran or Veteran Widow has cash assets above the limit, they are allowed to place those assets into certain investments in order to have them “sheltered”. This sheltering does not have a penalty or “look back period” associated with it. Proper asset sheltering for Special Monthly Pension with Aid and Attendance should be done under the supervision of an elder care professional or attorney well versed in Medicaid planning because one could easily ruin the chances of ever getting Medicaid if the V.A. pension planning was done incorrectly.

With a little professional planning, many Veterans and Veteran Widows can receive pensions that make a significant difference in the amount of care they receive. After all, the reason for this particular pension is to assure that a Veteran or Veteran Widow does not live in a substandard environment in their old age. It takes a little work to apply for this pension, but anything worth having usually does.

Geriatric Care Managers and Elder Health Care Professionals Committed To Providing Senior Care Management, Guardianship, and Long Term Care Planning. Also can call toll free at V.I.P. Care management, inc. 1-877-588-5158.

Article Source: http://EzineArticles.com/?expert=Sonja_Kobrin
http://EzineArticles.com/?Financial-Assistance-For-Elderly-Veterans-and-Their-Widows-is-a-Well-Kept-Secret&id=3470434

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Outstanding Video-An Inspiration To All-Be The Best You Can Be!

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Twin Cities Home buyer book

Thinking about buying a home but don’t know where to start? Why not start by reading the home buyer hand book that we have provided below. It is a great place to start to get the information you need. When you’re ready, we would love to help you find and finance a new home.

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Special Financial Info For Military Families

I just ran across a new link that I wanted to share– http://www.kiplinger.com/reports/military-families/ There is a report that you can download that has a lot of useful information. Also, I have a link to the IRS as well. http://www.irs.gov/publications/p3/index.html Don’t forget, if you are serving outside the US for 90 days between December 31st 2008 and May 1st 2010 you will have an extra year to qualify for the tax credit. Call us for more details or if you’d like to begin the home buying or mortgage qualifying process.

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Honor Those Who Served On Memorial Day

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Thank You Veterans!

Thank you to those of you who served in the military.

REALLY MAKES ME PROUD TO BE AN AMERICAN!!!!!!!!!!!!!!!!!!

Preparation for Memorial Day

Keep it
moving, please, even if you’ve seen it before.

It is the
VETERAN,
not the preacher,
who has given us freedom of religion.

It is
the VETERAN,
not the reporter,
who has given us freedom of the press.

It is
the VETERAN,
not the poet,
who has given us freedom of speech.

It is
the VETERAN,
not the campus organizer,
who has given us freedom to assemble.

It is
the VETERAN,
not the lawyer,
who has given us the right to a fair trial.

It is
the VETERAN,
not the politician,
Who has given us the right to vote.

It is the
VETERAN who
salutes the Flag,

It is
the
VETERAN
who serves
under the Flag,

ETERNAL REST GRANT THEM O LORD,
AND LET PERPETUAL LIGHT SHINE UPON THEM.

I’d be
EXTREMELY proud if this email reached as many as possible. We can be very
proud of our young men and women in the service no matter where they serve.

God Bless them all!!!

Makes you proud to be an AMERICAN!!!!

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Are you a majority owned veteran business owner or a disabled (service related) veteran?

If you are and want to start your own business or partner with someone else and retain a majority 51% ownership, you have a huge advantage in obtaining government contracts.  Here is a link http://www.vip.vetbiz.gov/ to register your business.  On November of 2009 the Council On Veterans Employment was started to help improve opportunity for Vets!!  This could be HUGE.  If you happen to be a woman or a person who qualifies as a disadvantaged business due to ethnicity, you have even more opportunity.  There are programs available for those who want to seek out self employment.  Did you know that small businesses actually create most of the jobs.  We NEED you to form a business and lower the unemployment rate and hopefully hire others to work in your new thriving business.

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National Guard and Reserve Benefits

I was doing some research and came across this link http://www1.va.gov/vhapublications/ViewPublication.asp?pub_ID=1138 it gives a great summary of who is available for which benefits.  They have phone numbers and links for more information.

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Military & Social Security Benefits

I was on the SS administration site today and found this PDF. I thought it was valuable information for vets, so I have it available to you here.

MilitaryAndSocial Security.pdf

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Minnesota Vets May Qualify for Home Buying Tax Credit Extention

Under the new law-Worker, Homeownership and Business Assistance Act which is now a new law as of November 2009, individuals and there spouses who serve on qualified extended-duty service outside the country for at least 90 days between January 1st, 2009 and April 30th 2010 with have an extra twelve month to buy and close on a home in order to take advantage of the tax credit. So, they would have to buy a new house by April 30th, 2011 and close on this home within a 90 day time frame.

Another cool twist is that the veteran won’t have to pay back any of the credit if he/she has to move at least 50 miles away for new deployment that will be expected to last 90 days or longer.

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Open Source Documents-Unbelievable Resources-Find YOUR topic of Interest

If you’ve never visited http://www.Archive.org, you are missing a wonderful site.  From this site, you will find many resources that are out of copyright and you can download and use them as you wish.  You will find all the classics and some fun things as well.  Just for fun, I have the download of a book called “Little Gardens” which is a book about setting up a garden on a city lot.  This is just one of the MANY fun things you’ll find.  You can download and watch old music, movies, and cartoons as well.  Plan to spend some time on the site should you decide to visit, as it is very cool.  Click here to download the book Little Gardens

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Giving Back in a Powerful Way

http://primaryelec.com/HelpingMinnesotaVeteranFamilies.aspx I am a member of LinkedIn. Today I saw what this company did for a Veteran family and how they gave back. I wanted to share this, to show vets everywhere that they are appreciated. This company took it a step further. I have no affiliation with them, but I think they should be recognized.

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The Clash-Rock The Casbah-An Oldy But A Goody

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In God We Trust-How long will these words remain a part of our country?

On July 30, 1956, the 84th Congress passed a law declaring “In God We Trust” to be the national motto of the United States. The motto was added to paper money over a period from 1957 to 1966. Since 1938, all United States coins bear the inscription.   - Provided by The World Almanac 2010

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Sell Your Home Faster-Learn The Home Selling Secrets Of Successful Sellers

Here is a special report that outlines over 450 ideas on how to sell your home faster.  This report is just one of the many home buyer, home seller, and investor reports that I can make available to you.  Read this report and call me to arrange a time to see how I can help.  Download Now

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Homeowners Assistance Program-Department Of Defense

http://hap.usace.army.mil/ Look at this-From the website:

The Department of Defense (DOD) is proud to offer the Homeowners Assistance Program (HAP) to eligible service members and federal civilian, including non-appropriated fund, employees. The program is authorized by law, and administered by the US Army Corps of Engineers (USACE) to assist eligible homeowners who face financial loss when selling their primary residence homes in areas where real estate values have declined because of a base closure or realignment announcement.
The American Recovery and Reinvestment Act of 2009 (ARRA) temporarily expands the HAP to assist service members and DOD employees who are wounded, injured or become ill when deployed, surviving spouses of service members or DOD employees killed or died of wounds while deployed, service member and civilian employees assigned to BRAC 05 organizations, and service members required to permanently relocate during the home mortgage crisis.

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Cool Movie Trailers With Patriotic Theme

I just found this website  http://objflicks.com/ You will love the movie and sound trailers.  All sort of Military and Patriotic stuff for you to view!

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Generations of Valor

This Picture is Worth 1000 Million Words (minimum!) . . .

We truly take a lot for granted.

Forget the football ‘heroes‘ and movie ’stars’.  AND MICHAEL JACKSON!

Pass this on so that all may know the price of freedom.

Only two defining forces have ever offered to die for you,

Jesus Christ and a Soldier..

One died for your soul; the other for your freedom.

How can you NOT PASS this along, we all send dozens of jokes.

In God We Trust

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Minnesotans’ Military Appreciation Fund

Watch this excellent video.  http://www.youtube.com/watch?v=C26Yd_25BWQ

This fund gives a cash grant to soldiers and families of soldiers who have served in a recent military war zone.  Learn more at http://www.thankmntroops.org

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Support Operation Minnesota Nice

Helping Vets-one package at a time
http://www.operationminnesotanice.com

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Visit the VFW Site

Check out the VFW site for fun and resources.
http://www.vfw.org/

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Pat Metheny Letters From Home

While this isn’t the same as the movie with a similar name (which was excellent) and referenced in my recent post, this video and music still will mean something to you. I think for everyone it will mean something different. Enjoy

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Dear America-Letters From Vietnam-Must Watch

About 8 years ago my wife and I were in Chicago.  We went to China Town for Dim Sum, and on the way back decided to stop at a new museum-the National Vietnam Veterans Museum.  We were touched.  Unlike the other Chicago art museums, this one was really unique.  I have included the link to the museum below.  Since our first visit, we went back to Chicago and visited again.  On our second visit, they had a movie that would run in their viewing room.  It was entitled Dear America-letters From Vietnam.  Famous actors and actresses would read the letters sent home by vets.  They gave the letter life.  It is TRULY an amazing film.  Here is the link to the Youtube link were you can watch the movie.  They have broken it down into chunks:
http://www.youtube.com/view_play_list?p=1F909A7F347AF831&search_query=Dear+America

National Vietnam Veterans Art Museum
www.nvvam.org

1801 S Indiana Ave
Chicago, IL 60616-1308
(312) 326-0270

Open Tue-Fri 11am-6pm; Sat 10am-5pm

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Extension And Expansion Of Home Buyer Credit-4/30/2010

A Big WOW!!  The credit has been expanded to include homeowners who have owned their home for the past 5 years. No longer do you need to be a first time buyer.  The dollar limit is $8000 for first time buyers and $6500 for move up buyers.  This GREAT news.  Combine this with 50 year lows in interest rates, and you’d be crazy not to consider making a move.  If you feel secure in your job, think hard about buying  home at this time.  We can help you make the right move. Visit this site-which is from the National Association Of Home Builders  http://www.federalhousingtaxcredit.com/faq2.php This site give you all the rules and regulations as they now apply.

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ThanksGiving-Perspective

This link will take you to a cool video presentation on Thanksgiving.  Next week we will have the opportunity to reflect on all the things we have to be thankful for.
http://www.cpmsglife2.org/MSG/Pres/td/td1.html

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Solutions For Returning Vets

I just found this online today. I’m not sure if there is a Minnesota resource that is similar, but the resources page will be of great help. If you know of someone or a family who needs a little help, please share this link.
http://www.thesoldiersproject.org/

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Home Buyer Tax Credit Information Update

It’s now official!! The tax credit has been extended and expanded. YOU NEED TO HURRY! You now have until the end of April 2010. The following summary of the credit is provided by the National Association Of Realtors. The following two documents cover the changes in the new law. Now get out there and buy a home!!

NAR FAQ: Homebuyer Tax Credit Changes
NAR Issue Brief: Homebuyer Tax Credit Changes

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2008 First Time Homebuyer Credit Questions and Answers

2008 First Time Homebuyer Credit Questions and Answers. Click Here

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First Time Homebuyer Credit form 5405

Download this First Time Homebuyer Credit form 5405 to claim your credit. Click Here

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Veteran’s Day-November 11th- Thank You!

For those who want to learn more about Veteran’s Day, here is the link at Wikipedia:  http://en.wikipedia.org/wiki/Veterans_Day Have you said “thank you” to a Vet?  I have. Have you ever welcomed them and wished them luck at the airport?  I have.  You know what, they appreciated it.  They appreciated that someone they’ll never see again recognized them for what they do and the sacrifices they’re making.  What they do makes our lives possible.  Freedom isn’t free, and they’re paying the bill.  Next time you see a Vet or active duty serviceman or servicewoman, Thank them.  I guarantee you’ll both feel better.

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Homebuyer Protection Alert!

Recent Federal legislation can impact your closing date. When completing your Purchase Agreement, even if you are prepared to move forward and close quickly, a more conservative timeframe of at least 30-45 days from the time of the contract acceptance would be a more realistic expectation at this time.

Listed below is information on two pieces of legislation that stand to impact your closing date, and a few bullet points that explain the reasoning behind and effects of each measure.

HVCC: Home Valuation Code of Conduct
HVCC was designed to ensure that appraisals are conducted objectively and without pressure from parties with an interest in the transaction. Under HVCC:

• The appraisal and selection of the appraiser will be ordered by someone not directly involved in the origination of the mortgage. This could be either someone else within the mortgage company or a third-party appraisal management company.
• A copy of the appraisal must be provided to the homebuyer/borrower no less than three days before closing. The minimum time expectations for receipt of the appraisal should be a few weeks and not days. (While receipt of the appraisal may be received in shorter timeframes, conservative expectations are warranted.)
• Communication between the appraiser and the originating mortgage professional is prohibited. It is imperative that the agents involved in the transaction be prepared at the time of inspection to offer supporting value information if warranted.

HERA: Housing and Economic Recovery Act

HERA was designed to ensure that the borrower(s) involved in the transaction are given accurate disclosure information (Truth in Lending Statement pertaining to Annual Percentage Rate or APR) regarding the loan they are applying for and adequate time to re-evaluate their decision to proceed in the event of any changes that would impact their costs to finance.

Under HERA:

• No fees may be collected for the transaction other than those for running a credit report at the initial time of application. Additional fees may be collected only after four business days.
• Should the APR change by more than .125% on a fixed rate loan or .250% on an adjustable rate loan, the lender must disclose the new APR and the borrower must have a minimum of three business days to review the information before the transaction may proceed.
• Items that can trigger re-disclosure requirements include a change(s) in the loan amount, closing date, loan program, any fees that impact the APR or interest rate from the rate indicated on the original loan application.
• In cases where documents are sent by mail to the borrower related to re-disclosure of APR and/or providing a copy of the appraisal, anticipate six business days (three to allow for mailing and three to allow adequate time to review them) before a closing can occur.

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MN First Time Home Buyer and Minneapolis Home Buyer Alert!

Tax Credit Expires 11/30/09 - Don’t Get Left Behind

MN Mortgage Broker, Patti Mazzara, warns MN First time home buyers not to miss out on the first time home tax credit that is about to expire. The first time home buyer tax credit which can be used on a Minneapolis home loans when Minneapolis home buyers close before November 30, 2009.

Unless you have either been under a rock for the past 12 months or you never work with first time homebuyers (FTHBs), you are no doubt aware the clock is ticking on the IRS tax credit for FTHBs. My purpose here is to give you some additional information on what you can do to move listings, motivate buyers, and more importantly close deals.

General Points to Consider - Buyer and Seller
The expiration date of the tax credit is November 30, 2009. Close December 1, as of now, and any qualifying buyer will not receive the tax credit. With the 30th falling on the Monday following Thanksgiving, where possible work towards a closing date of November 24th. This will provide some cushion if anything pops up in the closing process that could delay a closing.

Recent legislation mandates that if the Annual Percentage Rate or APR changes outside acceptable tolerances from the initial application, some documentation needs to be re-disclosed and time needs to pass before the closing can occur. Items that can impact APR can include a change in interest rate or fees required to close. If a buyer delays locking the application and interest rates increase during the loan process, this could delay the closing. This is just one reason to plan accordingly and schedule an earlier closing date than the last possible day.

Protect your clients on both sides with extended closing dates of 45-60 days. Expectations are high that more FTHBs will be going under contract in the next month. Interest rates have fallen to levels not seen since May. The result is that many lenders’ pipelines will be swelling with people seeking to take advantage of lower rates and the tax credit. Where feasible, work to get people under contract soon and plan accordingly to allow for any processing delays that could result.

Seller Points to Consider
Many FTHBs are motivated to purchase but may lack the necessary funds to close or may fall short in qualifying income. One way to assist with either or both situations and make the property more attractive is to promote that the seller will pay to reduce the borrower’s interest rate and/or closing costs. In many cases, this will not only cost the seller less than a price reduction but also bring additional prospects to consider the house.

Most FTHBs today are choosing to obtain loans that are guaranteed by the FHA, VA, or USDA. In the case of both FHA and USDA loans, the seller can pay up to 6% of the sales price or appraised value. For VA loans, the maximum seller concession is capped at 4%.

Consider approaching all sellers today with homes that would appeal to FTHBs and get them to commit to paying closing costs and/or reducing the buyer’s interest rate. This has often worked for builders in generating sales and it can work for your sellers, too.

Sellers who do not move homes before the end of November may find themselves waiting until the spring buying season kicks in to find their buyer. Make sure sellers know they need to promote their property now or risk waiting months while potentially seeing their property’s value decline in the process.

Buyer Points to Consider
In the same light as just mentioned, many buyers may feel they lack the funds required to close. When buyers are interested in a property, encourage them to submit an offer with the concessions needed to get the mortgage approved. They may just find that the seller is willing to negotiate.

Get all potential buyers pre-approved. As the time to close will be at a premium during the months of October and November, any work that can be done to expedite the application process will be golden. Prepare your buyers by advising them not to wait until they have a home under contract. Any documentation submitted today for pre-approval should be good through the end of November. Also, with a pre-approval in hand, both you and they will know exactly what they can qualify and shop for.

If you want to help with the application process and prevent the need to possibly re-disclose loan documents, encourage your buyers to lock their interest rate early in the loan process. This will be helpful for all parties and help the buyer focus on closing and providing any additional documentation that may be needed.

Some Questions on Who May Qualify
I have received many questions regarding who may and who may not qualify for the FTHB tax credit. I am attaching to this letter some FAQs on examples I have either dealt with or read about. As always, I encourage anyone with specific questions to consult with an accountant for final clarification.

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FMLA Military Leave Law Expanded

Dear John Mazzara,

Federal Legislative Alert!

Yesterday, President Obama signed into law the Fiscal Year 2010 National Defense Authorization Act (H.R. 2647).  The new law includes an expansion of the recently-enacted exigency and caregiver leave provisions for military families under the Family and Medical Leave Act of 1993 (FMLA).

In January 2008, Congress amended the FMLA to provide:

• Exigency leave - up to 12 weeks of leave for urgent needs related to a reservist family member’s (spouse, son, daughter, or parent) call to active service.
• H.R. 2647 expands the exigency leave benefits to include family members of active duty service members.  Under current law, only family members of National Guard and Reservists are eligible for “exigency leave.
• Caregiver leave - up to 26 weeks of unpaid leave to an employee to care for a family member (spouse, son, daughter, parent, or next of kin) who is injured while serving on active military duty.
• H.R. 2647 expands the caregiver leave provision to include veterans who are undergoing medical treatment, recuperation or therapy for serious injury or illness that occurred any time during the five years preceding the date of treatment.

These previsions are effective upon enactment.

In addition to providing leave for military families, the FMLA provides unpaid leave for the birth, adoption or foster care placement of an employee’s child, as well as for the “serious health condition” of a spouse, son, daughter, or parent, or for the employee’s own medical condition.  To be eligible for the leave, employees must work in organizations of 50 or more employees and work at least 1,250 hours in a 12-month period.

Visit the web address below to tell your friends about this.  Tell-a-friend!

If you received this message from a friend, you can sign up for Governmental Affairs.

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