www.hopenow.com

to see what you may qualify to do.
You may also do a (2)lender workout , where you may get a forebearnace for a period of time or do a loan modification. Another option is to (3)sell your home and bring cash to closing. (4) negotiate a deed in lieu of foreclosuire, where you trade the property back to the lender, this lessens the banks expenses. (5) Do a short sale, where you sell your home for less than what you owe on the property. (6) Foreclosure and (7) do nothing- just walk away.
Be very careful of rescue scams, they abound, and there is not an easy fix.
If you are ready to do a short sale, your local realtor can help by counseling sellers. As a seller you will need to provide a hardship letter, a hardship is : job loss, divorce, illness, layoff, death of spouse, payment increase of Adjustable rate mortgage. The seller will also need to provide documentation to show current financial condition, property will need to be priced right ( usually at the low end of fair market value). As seller you may need legal advise, these cost can be contingent on the short sale closing, may be a flat fee or billable hours. Be sure to ask attorney how many short sales they have done, AND HOW MANY HAVE BEEN SUCCESSFUL!
As a seller you need as much help as you can find to navigate this stressful and difficult time, the rules about foreclosures often differ from state to state, so be sure to get the advise of a true professional .

Why do short sales fail?
Incomplete short sale package, inexperienced listing agent, no hardship, junior liens, lender, offer had no reasonable chance of closing.
Patience and persistence are necessary to solve this , but you can do it!

As realtors we are seeing those investors who can buy, returning to the real estate market and scoffing up those great buys.

Homeownership provides stability in a community, it improves neigborhoods, it is an investment in the future as well as providing shelter and security. The are also economic benefits to being a home owner : deduction of interest and property taxes, capital gains exclusions, as well as home tax credit.

Now is an incredible time to buy a home. Let me help you find that perfect spot here in our sunny paradise, Port Charlotte Florida.

On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both up-front and monthly.

It is important to note that in order to be eligible for the lower cost up-front mortgage insurance, a lender has to order a case number from the FHA before April 5th. A case number can only be generated for loan applications where a property is involved and a fully executed purchase contract exists. Home buyers who have been pre-approved but are not under contract will not be eligible for the reduced premium effective April 5th.

Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these “seller concessions” , the seller paying for buyers closing costs and prepaids, can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.

So buyers don’t wait, act now to get the best deal, if you are planning on an FHA loan.

At Charlotte Harbor you will find two freshwater rivers, the Peace River and the Myakka River, which both flow into the saltwater environment of Lemon Bay and Charlotte Harbor, which in turn flows into the Gulf of Mexico. This estuary spreads over 270 square miles and is a great breeding ground for a variety of fish, bird and animal species. Visit us in this natural boating paradise that is Charlotte Harbor and the Gulf Islands.

Ainger Creek Marina 941·474·2487 2002 Placida Rd. Englewood

Cape Haze Marina Bay, L.L.C. 941·698·1110 800·544·2436 6950 Placida Rd. Englewood

Sheltered basin with wet slips to accommodate a 70 ft. vessel. Knowledgeable staff and service department.

Dockside Marine 941·697 ·3600 3060 Placida Rd. Englewood www.docksidemarineflorida.com Fishing and pleasure-boat sales, Four Winds, Century. They service all makes and motors from gas to diesel.

Eldred’s Marina 941-697-1431 6301 Boca Grande Cswy. Placida

Englewood Bait House 941-475-4511 1450 Beach Rd. Englewood www.sunstate.com/captjack

Boat rentals, boat tours, customized trips, party boat, water sports, kayak and moped rentals and private fishing charters.

Fishermen’s Village 941-639-8721 800-639-0020 1200 W. Retta Esplanade, Ste. 57A Punta Gorda

www.fishville.com

Gasparilla Marina 941-697 -2280 800-541-4441 15001 Gasparilla Rd. Placida www.gasparillamarina.com 225 wet slips 20′-100′,500 dry storage docks, bait & tackle shop, fishing charters, boat rentals, gas and diesel. New showers, laundry facilities room and tournaments.

Gator Creek Marina 941-639-3446 5000 Deltona Dr. Punta Gorda

Covered stacked in/out storage, fuel, parts & service, no wet slips.

Gulf Coast Marina 941-629-9666 4240 S. R. 776 EIJobean www.gulfcoastmarinecenter.com

Complete marine repair facility with boat storage and new and used boat sales. Fuel dock is open 7 days.

Palm Island Marina 941-697 -4356 800-226-3625 7080 Placida Rd. Cape Haze www.palmislandmarina.com Offering dockside assistance, swimming pool, Johnny Leverock’s Restaurant, gas and diesel, service and smiles.

Punta Gorda Marina 941-639-2750 25096 Marion Ave. Punta Gorda Full service boatyard and marina.

Thunder Marine 941-475-7100 900 S. McCall Rd. Engelwood www.thundermarine.com

Marine repair facility with boat storage and new and used boat sales.

Uncle Henry’s Marina 941-964-0154 5800 Gasparilla Rd Boca Grande www.bocagrande.com

58 slips, charters, fuel, overnight docking, boat ramp, showers

Call Kathy if you have any real estate questions at 941-456-0371

Kathy’s philosophy about real estate is to take excellent care of her clients, find them their dream home and keep in touch with them long term to handle any and all of their real estate needs over the years. She has been a local realtor since 1998, and has served on the professional development committee at the local Board of Realtors for several years and has been active in the local chapter of Women’s Council of Realtors, in a variety of leadership roles including the local chapter President in 2007. If you are interested in a long term relationship with a full time, local realtor whose focus is on customer service, please give Kathy a call, she would love to help you buy or sell your place in the Florida sunshine.

Low interest rates, first time buyer credits and low prices make this a very appealing time to purchase  affordable homes.