Real Estate News
Clearwater Home Sellers Thinking of Renting Home and Buying Another - Act Fast Rules Are Changing
July 26th, 2008 Categories: Clearwater Florida, Homes for Sale, Real Estate News
Clearwater Florida - With Clearwater Real Estate taking longer to sell many people with Clearwater homes for sale (especially those home sellers being relocated this summer) are considering renting out their primary residence and planning to buy a new home in their new location. We also have clients moving to Clearwater in the same boat with homes to sell in other states. Well you should know the Fannie Mae rules just changed and may drastically affect your plans.
Katrina Madewell, a Tampa Realtor we work with who also owns a Tampa Bay mortgage company recently shared the important Mortgage Rules changing August 1, 2008 (this week) and here are some of the important changes she spells out for those considering this option:
“
The latest Fannie Mae Announcement that just came out will affect you or your client. If this is your plan, ANYTIME SOON, you’d better speed up those plans and act this week.
The biggest changes are regarding borrowers who are converting their primary residence to an investment property.
Clearwater / Tampa Mortgages and Home Loans Update
Current mortgage rule: You would just have to get a copy of the rental agreement and lenders could use 75% of the rental agreement as income.
The new Mortgage Rule coming into effect on 8/1/2008 :
- The borrower must have at least 30% equity in the house,
- a copy of the rental agreement and
- proof that the security deposit has been deposited into the borrowers account
If you have a Clearwater home and you can meet all three of these requirements then you can use 75% of the rent as income. However, if the home buyer CAN’T meet ALL 3 new requirements then both mortgage payments would be counted against the borrower when qualifying for a loan. ”
If you are looking for more information check out Page 6 of the Fannie Mae Announcement which covers the new changes in detail or call Katrina Madewell directly at (813) 235-9889. Thanks to Katrina for sharing this Tampa Bay / Clearwater Mortgage update with our readers.
Related Articles:
- Why Tampa Bay Home Sellers Choose Short Sale over Tampa Bay Real Estate Foreclosures
- Clearwater Homes for Sale - 10 Easy Steps to Sell Your Home in Clearwater Florida
- Clearwater Real Estate - Avoid these Top 5 Mistakes to get Clearwater Homes SOLD
- Clearwater Beach Real Estate | If I Buy a Clearwater Beach Condo Can I Rent it Out Weekly?
If you are thinking of buying or selling - Give us a call or start the process using these tools below:
Click on the photos below and meet some of our clients and now friends…we’d love to be YOUR choice too! 
Give us a Call today at (727) 710–8036 or Email Jack at jackhaydon@gmail.com for our complimentary Clearwater Florida Real Estate Comparable Market Analysis!
Jack & Cyndee Haydon,
Belloise Realty
Clearwater Beach, Florida 33767
Our emails: jackhaydon@gmail.com cyndeehaydon@gmail.com
The above information and images are Copyright © 2007 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Florida Real Estate Agents and may not be copied, reproduced, distributed, transmitted, displayed or published. All rights reserved. Plagiarism will be detected and is punishable by law.
| Currently 1 Comment »
Why Tampa Bay Home Sellers Choose Short Sale over Tampa Bay Real Estate Foreclosures
April 27th, 2008 Categories: Clearwater Florida, Condos for Sale, Homes for Sale, Pinellas County, Real Estate News, Tampa Bay
Why A Tampa Bay Short Sale May Save Your Credit
Tampa Bay Florida - If you are behind in the mortgage payments on any Tampa Bay Real Estate, then call us today to list and sell your Tampa Bay / Clearwater area property. We will work with you and your mortgage company or bank to get your Tampa Bay real estate sold and work to keep your credit in tact with a short sale.
Don’t let this be you… we can help!
We are Tampa Bay Real Estate agents who work with an attorney and a title company to expedite the sale of your property whether it’s a home or condo for sale, so you may move on with your life.
If you are not familiar with a short sale, then here is a brief description to help you understand what we do for you, we list your property when the outstanding loan balance on the property is larger than what your Tampa bay home will appraise for so it’s also more than it can sell for in today’s Tampa Bay real estate market . This process is better for you than the foreclosure process which will ruin your credit for years.
In addition, the short sale helps the bank because we will save the cost of an expensive foreclosure process. The banks understand the short sale process and are more than willing to work with us, so it is a win-win situation.
In summary, if you are behind in your mortgage payments, have been served with a foreclosure notice, or the bank has complained by writing a foreclosure warning you must act quickly to save your credit.
For more info on Selling your Tampa Bay Home and understanding your options. Call me today at 727-710-8036 and get a Free consultation and we’ll explain how the process works and why recent laws work in your favor.
Jack Haydon
Belloise Realty
727-710-8036
| Currently 7 Comments »
Clearwater Beach Real Estate Articles Now Available Via New Service - RSSHugger
March 26th, 2008 Categories: Clearwater Beach Florida, Real Estate News
RSSHugger helps Promote Clearwater Beach Real Estate
Clearwater Florida - This Clearwater Beach Real Estate blog is now available through the blog RSS site, RssHugger. This is another way that our articles about living in Clearwater Beach Florida 
can be found by more internet blog readers. This is especially important for us since a large portion of our readers are not Floridians we actually have 15% of our readers from outside of the United States today.
If you have have a real estate blog or any blog for that matter you should check out the RSSHugger site and allow your real estate blog or a blog on any other topics of your interest find a wider audience.
There are 2 ways to get your blog included in the RSSHugger site:
- Pay a $20 one-time fee;
- Write an honest review of the site on your own blog;
I have promoted my other blog with RSSHugger and been thrilled with the results. I like this policy since it should minimize the “spam” and “junk” sites in the directory and actually create more awareness for their site through blog posts like this one.
Why not sign up and submit your blog to RSSHugger today? I’d love to hear what you think of it and I’ll keep you posted on my RSSHugger experience as well.
And if you’re interested in seeing what’s for sale in today Clearwater Beach Real Estate market - Search the Clearwater Beach MLS or call us at (727) 710-8035.
| Currently 4 Comments »
