Pause to Remember on Memorial Day

Memorial Day

Memorial Day is a time to remember those that served this country and lost their lives. Most people think that Memorial Day is a three-day weekend with party and celebration with friends of family.

Do you really know the reason behind Memorial Day?

So as you enjoy the Indianapolis 500, BBQ picnics with friends and the official launch of summer, take a moment to remember the reason for the day. To remember those that served our country. So at three o’clock tomorrow, take a moment and pause and pay tribute to those that died in service of our freedom.

To help re-educate and remind Americans of the true meaning of Memorial Day, the “National Moment of Remembrance” resolution was passed on Dec 2000 which asks that at 3 p.m. local time, for all Americans “To voluntarily and informally observe in their own way a Moment of remembrance and respect, pausing from whatever they are doing for a moment of silence or listening to ‘Taps.”

“Memorial Day is a United States federal holiday that is observed on the last Monday of May (observed this year on 2007-05-28). It was formerly known as Decoration Day. This holiday commemorates U.S. men and women who have died in military service to their country. It began first to honor Union soldiers who died during the American Civil War. After World War I, it expanded to include those who died in any war or military action. One of the longest standing traditions is the running of the Indianapolis 500, which has been held in conjunction with Memorial Day since 1911.”

My home is not selling!!!!!!!!!!!!!!!

My Buffalo home is about to expire!

My current listing contract is about to expire!

Your Buffalo area home is about to expire and you are understandably frustrated.  You have great plans for a new Buffalo area home and you just can’t understand why your home has not sold.  You love your home, it has been wonderful for you, but why is it that nobody else wants it?  At this point you have lost confidence in your current Buffalo Realtor®, and you probably are searching the Internet to find the right person to sell you Buffalo home.

Why your home is about to expire

Time to face the ugly monster in the room — the truth.

Let’s face it, you have been on the market six or more months and you have not sold.  There are many reasons why you home has not sold, and they all come back to price.  Another fact about pricing, if you home doesn’t sell in the first 30 days, it is directly related to the price.  Plain and simple, you priced your Buffalo home too high for the current market conditions.  You probably have heard one or more of the following:

• The buyer found another Buffalo home they put an offer on
• The buyer wanted …
• The market is slow, have patience
• no feedback whatsoever

Your current Realtor® probably has suggested:

• several price reductions
• home staging
• professional cleaning
• planting flower, a new welcome mat
• change in the showing instructions
• extending the listing and see what happens

Erie County First time buyer’s program

Erie County First-time Home Buyer Program

Assistance program for First time home buyers in Erie County

Can I get help purchasing a home?

I am asked frequently about Buyer Assistance programs for first-time home buyers.

There is a program that is sponsored by the Erie County Department of Environment and Planning to help eligible families become homeowners.

Funding provided by the US Department of Housing and Urban Development HOME program.

Criteria for Participation:

1. Applicant must not have owned a home within the past three years unless one of the following apply:
   • the applicant is a single parent and owned a home with his or her former spouse when married, or resided in a home owned by the former spouse
   • the applicant owns and resides in a house that is not affixed to a permanent foundation
2. The purchased property must be a single-family or two-family home.
3. Purchase price must not exceed $107,000 for a single-family and $135,890 for a two-family home
4. Property must be owner-occupied after purchase
5. Property must be free of any lead-based pain hazards
6. The property must satisfy HUD housing quality standards and local building code requirements
7. The property must be located within Erie county excluding (and the villages therein):
   • City of Buffalo
   • Town of Amherst
   • Town of Cheektowaga
   • Town of Hamburg
   • Town of Tonawanda
8. Household gross income must not exceed the income figures below:
   • 1 Person – $ 34,100
   • 2 Persons – $ 38,950
   • 3 Persons  – $ 43,850
   • 4 Persons  – $ 48,700
   • 5 Persons  – $ 52,600
   • 6 Persons   – $ 56,500
   • 7 Persons   – $ 60,400
   • 8+ Persons – $ 64,300

The Home Buyer must provide:

1. A 1% down payment
2. Additional down payment and closing costs determined by the lender

For more information:

Marie Pieczynski
Erie County Department of Environment and Planning
95 Franklin Street 10th Floor | Buffalo NY 14202
(716) 858-2733

Job Loss Protection Plan announced

RealtyUSA announces Job Loss Protection Plan

RealtyUSA announced today that as the Market Leader we are the first real estate company in Upstate New York to offer Job Loss Protection to help buyers and sellers make real estate decisions with a greater degree of confidence. Much as we have seen recently with national car manufacturers, this mortgage protection plan supports home buyers in the event of involuntary job loss within the first 24 months of the loan.

The policy is seller-funded and covers mortgage payments up to $1,800 per month for up to 6 months.

Job Loss Protection Program

The Job Loss Protection Program is an optional, seller-funded mortgage protection program that helps home owners with monthly mortgage payments if they experience a loss of employment. The Job Loss Protection Program is part of the HELP (Home owner Education and Loss Protection) program administered by the Rainy Day Foundation.

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What is mortgage fraud?

Educate Yourself About Mortgage Fraud

Mortgage Fraud is a serious problem in this country and will continue to be. How can a Western New York Borrowers protect themselves against it? Education is the first place to start. So what does Mortgage Fraud look like?

Here is a brief run down of the various ways Mortgage Fraud can happen:

• Property Flipping – A type of real estate investment strategy in which an investor purchases properties with the goal of reselling them for a profit.  Not all property Flips are fraud, it is just a red flag.  An illegal flip usually centers around the appraisal.
• Chunking – Another common scam, which basically there is a get rich quick seminar to convince attendees to become investors. They portray that they will identify the property, purchase it, rent it out and then sell it for a profit.  What happens more times then not these properties go into foreclosure and the investors are left holding the bag.
• Nominee Loans/Straw Buyers – Which involves a person who agrees to lend their name and credit but does not intend to actually be responsible for the property..
• Fictitious/Stolen Identity – Same problem as straw buyers, but in this instance the identity is stole or created out of thin air.
• Foreclosure Rescue Schemes, Silent Seconds, Inflated Appraisals, Equity Skimming, Air Loans and Money Laundering are all forms of mortgage fraud.

Hope that this assist you with your questions on Mortgage Fraud.