Home Foreclosure Prevention

Comon sense Tips to Avoid Foreclosure

Bought to you as a public service by the Tyson Group

New Bern's Top Real Estate Team

The United States Department of Housing and Urban Development as posted the following suggestions to help homeowners facing foreclosure.

1. Don't ignore the problem and hope it will go away. The sooner you act, the easier it is to get help.
2. Contact your lender at the earliest indication of a problem . Lenders are required to file a Notice of Default if necessary in order to protect their own interests, however the last thing a lender wants is to take foreclose on your home. Open all mail sent from your lender. Ignoring the problem will not make it go and lenders often provide helpful information that may provide a few options during the early phases of delinquent payments. Later in the process, important information regarding legal action and responsibilities may be sent by your lender.
3. Read through your loan contract and contact your State Government Housing Office. Be well versed on what your lender may do if you can't make payments and the time frames and laws in your state.
4. Understand Foreclosure Prevention Options- A number of loss mitigation options are available including thatcould help you get current.
5. Contact a non-profit housing counselor- Counselors can help you with the laws and your options as well as organize your finances and represent you in negotiations. These counselors are available nationwide and are funded by HUD.
6. Prioritize your spending- Next to your health, keeping your house should be your number one priority. Review your spending to see what you can remove to make more room in your budget for your house payment. It is a good idea to contact the lender for your unsecured debt as well, as they may offer some options to help you manage your payments.
7. Utilize your assets- Review your assets for anything that you may be able to sell for cash to make your payment or reinstate your loan. This can include a second car, jewelry, electronics or a whole life insurance policy. Also, if possible, attempt to take on a second job. What is important in these situations is that you have demonstrated to your lender that you are attempting to reconcile your financial obligations. Even though the financial gain may not be enough to completely reconcile the account, the display of effort is just as important.
8. Avoid foreclosure prevention companies- With a number of non-profit agencies provided by the government, it is a good idea to avoid using for-profit agencies.
9. Be conscience of foreclosure recovery scams.

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Search engine savvy for real estate

Is your real estate search engine savvy? They had better be in todays world. When it comes to real estate today more so than ever homebuyers are goingto the internet to find their realtors and their homes.

Today consumers are so overwhelmed with advertising they are blocking most of it out. When they want to learn about real estate they go straight to the web. If your realtor has what they want 81% of the time they will buy from them.

The bottom line. Choose a realto that has a strong web presence. Choose the Tyson Group.

Steve TysonThe Tyson Group
The Gold Standard in New Bern Real Estate
www.newbern-nc.info
252 514 9157 cell
888 603 3215 fax

Homes for sale-Great time to buy

More bad news for the housing industry, or is it? Reports were out today that home sales dropped to the lowest level in 12 years. I have been saying for months that it is a bad time to sell but a goo time to buy. Buy now and get great interest rates and reasonably priced homes. Two years from now you will be glad you did.

Home stimulus for 1st time home buyers home buyers

As part of the American Recovery and Reinvestment Act of 2009 first time home buyers are now eligible for a tax credit of $8,000. Home owners who purchase their house between January 1, 2009 and December 1, 2009 will be eligible for the credit.

The law states that the credit is available to first time home buyers, however the law also allows anyone who has not owned a home for three years to qualify. For example, if you sold your home on June 1, 2006, you will have to close on your new home subsequent to June 1, 2009 to qualify.

You will receive the tax credit when you file your individual tax return. As part of this filing, you will need to complete Form 5405 which determines the amount of credit you will receive. The credit can be claimed on either your 2008 or 2009 tax return. If you already filed your 2008 tax return, you can amend the return to obtain the credit.

The good part. Everyone should understand that this is a credit to the tax payer, not a deduction. A tax credit is a dollar for dollar benefit to the tax payer. Unlike a tax deduction which merely decreases your taxable income a tax credit comes off the top of the taxes you pay. Additionally this tax credit does not have to be repaid to the government like the “credit” available to first time home buyers in 2008.

The credit shall be equal to 10% of the purchase price of the home, not to exceed $8,000. There are restrictions on who is eligible for the tax credit. A single taxpayer with a income up to $75,000 and couples with income of up to $150,000 qualify for the full credit.

For first time homebuyers or folks that have not owned a house in the last 3 years this is a great opprunity to get a home and let Uncle Sam foot some of the bill. Don't let this once in a lifetime pass you buy.

New Bern NC Real Estate- 4 reasons homes do not sale

Below I have listed some of the top reasons that homes do not sale. In todays competitive market place you cannot afford to make a mistake in any of these issues.

1. Price-The failure to price your house correctly is the number one reason for homes not selling. Many sellers want to price for yesterdays market but that won't work. Price it right from the start.

2. Poor marketing. Is your realtor a professional when it comes to marketing? Are they internet savy? If not find one.

3. Is your house difficult to show? If so you better correct that. If not Realtors will avoid it like the plague. It's a competitive real estate market and you need to understand this. Don't make it hard for the realtors to show your property.

4. Stigma- If your property is stigmatized for any reason, price, condition, ect. buyers and realtors will avoid the property. Find out from your realtor if your house has any issues that need to be addressed and take care of them immediately.

If you need professional real estate advice call

The Tyson Group

252 514 9157

SteveTyson@NCMOVE.com

over $80 million sold in the past 5 years.

New Bern Real Estate

I am getting ready to get on a plane to head back to New Bern after attending a real estate convention in Orlando. After talking to Realtors from Arizona , Nevada, and Florida I realize that despite the fact that the market in New Bern is down, in those areas it is devastated. In some parts of those states more than 50% of the homes on the market are foreclosures.

New Bern Spring Historic Homes Tour

Spring Historic Homes and Gardens Tour Friday, April 17 and Saturday, April 18, 2009 Sponsored by the New Bern Historical Society and New Bern Preservation Foundation Enjoy beautiful Spring in New Bern and visit 16 historic homes and gardens on the “Spring Historic Homes and Gardens Tour.” On April 17th and 18th homeowners invite you in to some of the most beautiful and interesting historic homes in downtown New Bern. Get a behind the scenes look at homes that have much to tell us of the history of this town founded in 1710. Many of the areas historic churches will also be open and will offer music along with a tour. Homemade bagged lunches and baked goods will be available at the restored Pinnix Drug Store for a refreshing pause. The tour is from 10am to 5 pm each day, and tickets are good for both days. The Tryon Palace Gardens in bloom will be open to the public for the Spring Historic Homes and Gardens Tour weekend. In addition, Spring Homes Tour ticket holders will receive a discount on the Governor’s Pass to tour the Palace and the New Bern Academy. All tour ticket holders are also invited to a special reception at Carolina Creations at 317 Pollock St. on Friday April 17, 5-7 p.m. There are plenty of activities to enjoy downtown, so be sure to join the crowd. Tickets are $15 in advance, $20 the day of the tour, and $13 for active military and their dependents. There is also a special rate of $13 each for groups of 12 or more. Tickets may be purchased at the New Bern Historical Society at 512 Pollock Street, the New Bern Preservation Foundation at 510B Pollock Street, Craven County Convention and Visitor’s Bureau at South Front Street, the Bank of the Arts at 217 Middle Street, and Harris Teeter at 2019 S. Glenburnie Rd. For more information or tickets: New Bern Historical Society - 252-638-8558 – www.newbernhistorical.org New Bern Preservation Foundation-252-633-6448 – www.bewbernpf.org

New Bern NC Motel

While visiting New Bern check at the Marilyn Room at New Bern's icon motel The Ziegler. This room has a full kitchen and washer dryer for folks looking for extended stay facilities. Conventiently located only 8 blocks from historic downtown and 3 blocks from Craven Regional Hospital. Best deal in town. Check out the web site at www.newbernzig.com

New Bern Solid Waste Management

One of the Boards that i serve on is called CRSWMA. What in the heck is CRSWMA? Good question. CRSWMA is an acronym for Coastal Regional Solid Waste Management Authority. It is the organization responsible for disposing of the solid waste from Craven, Carteret, and Pamlico Counties. CRSWMA is a quasi governmental organization with a board of directors chosen by the County Commissioners. The board hires a manager who is responsible for overseeing the operation. The 35 employees of CRSWMA ensure that the trash generated by the citizens of the 3 counties is disposed of in an enviornmentally responsible manner and in accordance with the general statues of North Carolina.

Managing solid waste in North Carolina has changed dramatically over the years. It used to be relatively simple. Pick up all the various types of trash, dump it in a central location, and cover it with topsoil.



When organic material decomposes without oxygen present, ir produces methane gas. Methane, along with carbon dioxide, sulfer dioxide, and some other gases in trace amounts, make up landfill gas. Landfill gas is usually about 50%-60% methane.

CRSWMA is required to extract the methane gas from the landfill and combust it, because methane is a greenhouse gas. Up until the fall of 2007, we just flared the gas off. Now we sell the gas to INGENCO, LLC. a Richmond, Va. based company that uses the landfill gas as fuel for generators producing electricty. This electricity is sold to Progress Energy. CRSWMA and INGENCO have a contract that could last for 20 years or more.

During the month of January, 2008, INGENCO burned about 1 million cubic feet of landfill gas per day to Ingenco. Based on the methane content of that gas, over 18 billion btu's of energy were provided for electric generation.

INGENCO uses converted diesel engines to turn electric gensets. Currently at the CRSWMA facility, there are 12 engines in place, with room for expansion as the landfill continues to receive waste. Each engine is attached to a 350 kilowatt generator for a total output of about 4 megawatts. INGENCO usually runs the generators at slightly less than full capacity to extend the life of the engines, with an output of about 3.2 megawatts on average. this is enough power to furnish the needs of about 2,000 homes.

Landfill gas is a renewable energy source. As long as we continue to have waste to dispose of in landfills, the source of this power will continue to be sustained.