A: If you are behind on your mortgage payments and all other options to keep you in your home have been exhausted, a “short sale” can be done. Your mortgage company is contacted and a process is begun that the lender looks at your situation and they offer to pay off your loan for less than what you owe, ‘short’ of the full debt amount. This will prevent you from having a foreclosure on your credit, which will make it difficult for you to purchase a home in the future. However, by doing a short sale, you are not allowed to receive any equity or money when the transaction closes. This can be a complex transaction. Call a REALTOR to guide you.

A: Have a real estate question about buying or selling, maintaining your home, property taxes, short sales and forclosures, de-cluttering, appraisals or just about any real estate topic you can imagine?! Then watch The Greater Pocatello Association of Realtors TV show REALTOR TALK for answers and great information. A new topic is presented every month with local realtors and industry experts to give you the latest, most updated information about all things home and property. Watch it every Tuesday morning at 10:30 a.m. and Thursday evening at 7:30 p.m. on Public Access Channel 12. Have fun and be informed!

A: Hurry!! The Federal Tax Credit EXPIRES April 30th. A first-time homebuyer (if you haven’t owned a home in 3 years) can obtain $8000. CURRENT homeowners (if you have owned and occupied a home for 5 consecutive of the last 8 years) can obtain a $6500 tax credit. The tax credit is NOT a loan you have to repay. All buyers MUST have a written contract in place by April 30, 2010 and then must purchase the home by June 30. Interest rates are still in the 5% range, homes are at excellent values, you get paid to purchase, so NOW is the time to invest in a home. Don’t miss out. Call your REALTOR today.

A: Hurry!! The Federal Tax Credit EXPIRES April 30! A first-time homebuyer (if you haven’t owned a home in 3 years) can obtain $8000. CURRENT homeowners (if you have owned and occupied a home for 5 consecutive of the last 8 years) can obtain a $6500 tax credit. The tax credit is NOT a loan you have to repay. All buyers MUST have a written contract in place by April 30, 2010 and then must purchase the home by June 30. Interest rates are still in the 5% range, homes are at excellent values, you get paid to purchase, so NOW is the time to invest in a home. Don’t miss out. Call your REALTOR today.

HURRY!  You MUST have your home completely purchased by 12/1/09 to obtain the $8000 credit – no exceptions.  Yes, there are discussions in Congress about extending the credit, but as of now it expires and you may never get paid again to purchase a home.  If your home doesn’t close on or before 12/1/09, you will not be eligible.  Interest rates are in the 5-6% range, homes are at excellent values, so NOW is the time to BUY.  You only have a short time left:  Call a REALTOR® today.

YES! You MUST have your home completely purchased by 12/1/09 to obtain the $8000 credit.  It is taking between 30-45 days to complete and finalize most mortgages right now.  That means in most cases,  you need to have a home chosen and an offer accepted by NO LATER than mid-to end October.  If your home doesn’t close on or before 12/1/09, you will not be eligible.  Interest rates are in the 5-6% range, homes are at excellent values, so NOW is the time to BUY.  You only have a short time left!  Call a REALTOR® today.

YES!!!  Idaho is one of a handful of states that has set up a special program to borrow against the $8000 BEFORE you file your taxes to receive it.  This program through a lending organization called Idaho Housing & Finance Association (IHFA) allows for you to borrow up to $7000 at 3% interest to use as the down payment to purchase a home.  You will then repay it no later than July 2010 from the money you get from the first-time home buyer tax credit when you file your taxes.  Call a REALTOR® today to assist you with the details.  Rates are the lowest they’ve been in 50 years, and the price and selection of homes is great.  If you are ready to buy a home, IT DOESN’T GET ANY BETTER THAN NOW!