Economist Nouriel Roubini, chairman of RGE Monitor and economics professor at New York University's Stern School of Business, says the economy faces a threat of a "double-dip" recession and at best a slow-growth U-shaped recovery. It's going to be death by a thousand cuts.the financial system is severely damaged, and it's not just the banks." Roubini predicted more than 1,000 financial institutions could fail before all is said and done, and that housing prices are likely to fall another 12 percent in the next year - 40 percent overall since the market began its steep decline - leaving about half of all homeowners owing more on their mortgages than their houses are worth. "The gap between supply and demand is so huge we could stop producing new homes for a year to get rid of all the inventory," he said. "This price adjustment, in my opinion, is going to continue for another year."

Short Sale Acceleration Program

Short Sale Acceleration Program A short sale or short payoff occurs when a lender agrees to accept less than the outstanding loan amount to satisfy the seller’s loan. A short sale allows both the lender and the distressed property owner to avoid foreclosure by selling the property at a loss. The Short Sale Acceleration Program enables real estate professionals to take advantage of our law firm’s experienced real estate attorneys to represent your short sale client. This attorney representation is available for a low flat fee to the client, and typical results include: A quicker response from the servicer/ lender Increase the likelihood for a successful approval Dramatically less work for the seller AND the agent/broker Protect the client’s tax liabilities by negotiating to reduce or eliminate the deficiency Protect the client’s credit score by negotiating how the short sale is reported to the credit agencies Short Sale Acceleration Program The Short Sale Acceleration Program has been created to assist the agent/broker to achieve all of the following: Provide a competitive advantage over other agents/brokers when securing short sale clients by offering the benefit of attorney representation Frequently secure higher fees paid to the agent/broker Assure that the short sale documentation is prepared correctly and submitted to the appropriate department at the lender/servicer Achieve more effective results because the law firm utilizes its existing relationships with the loss mitigation departments at the lenders/servicers to quickly secure the approval Limit the possible liability to the agent/broker for conflicts of interest and other issues Assistance provided to the seller for identification of important or damaging legal issues at the earliest possible opportunity (deficiency judgments, tax implications, fraud, etc) Short sales are far more complicated and time consuming than an average real estate sale, making it important for the client to retain an experienced real estate attorney to oversee and negotiate the transaction from contract to closing....so the agent/broker can spend more of their time finding new clients and buyers for the properties they currently have listed. The Process: The agent/broker works with the seller to gather the necessary short sale paperwork, and the real estate attorney is engaged by the client to communicate with the lender that the seller is seeking immediate approval for the short sale. The attorney is experienced at applying pressure on the servicer/lender through a number of legal tactics which can include: Indicating that if the short sale is not approved then the client may elect to file for bankruptcy as the only other alternative to foreclosure Perform a forensic audit on the loan documents and notify the lender (where applicable) that they failed to properly disclose the terms of the loan, and/or violated the Truth in Lending Act, and/or committed other acts of fraud, and we will recommend our client pursue a private lawsuit or a class action lawsuit if the short sale is not approved.

Details On The First Time Home Buyers Tax Credit

Details on the First Time Home Buyer Tax Credit Published on Saturday, July 18, 2009, 1:11 AM Last Update: 1 month(s) ago by Kimbrough Gray Category: All Articles » Mortgage and Finance There is a provision in the Housing and Economic Recovery Act of 2008 that allows first time home buyers the ability to receive a credit on their taxes of up to $7,500 for purchasing a home. There is also a provision in the American Recovery and Reinvestment Act of 2009 that expands this tax credit for qualified first time home owners. The provision is called the first- time homebuyer credit. The 2008 first-time homebuyer credit was created to infuse the slumping housing market, and is treated like an interest-free loan. Qualified participants were required to repay the loan interest-free over a period of 15 years, making 15 equal annual payments. You can find more details about this tax credit on the IRS website. The provision in the American Recovery and Reinvestment Act of 2009 increased the first- time homebuyer tax credit to $8,000 for purchases made January 1 - November 30, 2009. In contrast to the 2008 tax credit, new home owners do not have to repay the credit as long as they do not sell their home within three years of closing on the home. You need to be armed with the facts before you go to purchase a home on the assumption that you'll receive the credit. The following FAQs will help you navigate through the quagmire of confusion that has surrounded this tax credit. * Who is eligible? Taxpayers who have not owned a home within the U.S. three years prior to purchasing a new or resale home in the United States. The closing and transfer of title on the home must be completed between April 9 and December 31, 2008 for the 2008 credit, and between January 1, 2009 and November 30, 2009 for the 2009 credit. * What is the amount of credit? The credit allows for 10 percent of the purchase price. The maximum credit is $7,500 for 2008 and $8,000 for 2009. * Are there income limits? Income limits are $75,000 for a single filer and $150,000 for a couple filing jointly. The IRS bases the credit on your modified adjusted gross income (MAGI). Your MAGI equals your adjusted gross income (AGI) plus IRA contribution deductions, foreign housing deductions, student loan deductions, higher education expense deductions and foreign income. Partial credit is available to some with higher MAGI. * Does my home qualify? The home qualifies if it is the taxpayer's principal residence, is located within the U.S. and purchased between April 9, 2008 through July 1, 2009 for the 2008 tax credit, and January 1, 2008 through November 30, 2009 for the 2009 tax credit. For new construction, the date you actually occupy the residence will be considered the purchase date. * What if I don't owe taxes or I'm exempt from filing? It doesn't matter. The credit applies to qualified applicants regardless of filing requirements, even to those who do not owe taxes or are exempt from filing. You may file solely to claim the first-time home buyer credit. * How do I claim the credit? Although you are not required to claim the credit, you may do so by filing a Form 5405. You'll need to file the form with the applicable 2008 or 2009 federal income tax return. * Does the tax credit act as a tax deduction? No. A tax deduction only diminishes the amount of income taxed. For instance, if the taxpayer's AGI is $40,000, then a deduction would reduce the amount taxed by $8,000, depending on the amount of applicable credit. The taxpayer would be taxed on the remaining amount of $32,000. Instead, the credit is directly deducted from what the taxpayer owes the government. If the taxpayer owes $2,000 to the IRS, then $6,000 would be the amount refunded to the taxpayer. If the taxpayer owes nothing, then the entire $8,000 would be refunded, depending on the applicable credit.

The Shocking Truth About The Short Sale Timeline!

The Shocking Truth About the Short Sale Timeline! There is a lot of misinformation regarding how long it takes (on average) to negotiate a short sale with a lender. As a full-time real estate investor who negotiates directly with lenders to buy the houses of people who find themselves in the process of being foreclosed upon, I know exactly how long it takes -- and it isn't quick. I've heard all manner of nonsense from so called "short sale experts" who say that 60-90 days is a realistic timeframe -- ridiculous! While such quick negotiations do happen from time to time (just like some people do actually win the mega-lotto) the typical negotiation is much, much, much longer. I think that it's VERY important to be honest with the homeowners I deal with -- I tell them the complete truth and I never "blow smoke up their wazu" by painting a rosy picture of the short sale process. This is my standard email explaining what to expect: As soon as ALL of the paperwork is gathered we will submit to lender immediately -- they will typically acknowledge receipt in 4-6 weeks. In another 4-6 weeks after that they'll order an appraisal -- they will typically acknowledge receipt of the appraisal in another 4-6 weeks after that. Within 4-6 weeks of acknowledging the appraisal they will begin negotiating -- they will typically come to the table with their final offer in 4-6 weeks after that. Once we have the final offer, my closing with them will take place in 4-6 weeks: 4-6 4-6 4-6 4-6 4-6 + 4-6 = 24-36 weeks (6-9 months) My team will handle everything and there will be nothing for you to do. If the bank asks for additional documentation from you/your wife we will contact you -- the quicker you can get it to us the better. Typically the collections department has no clue that the negotiations are in process with the short sale department and they may continue to call you weekly. When you tell them that a short sale is being negotiated they will tell you that they have no record of a short sale negotiation and you should send them the paperwork. They will be telling you the truth -- the collections department will have no clue that a short sale negotiation is in process and no matter how many times you tell them they will not put it into their system and they will continue to act as if nothing is in process -- the bank departments rarely talk to each other. Don't be worried. This is typical. Just let my team do its job. If you get any correspondence from the lender, or the court, fax it to my agent, so we have a copy for our file. Do not expect to hear from us for 2-3 months at a time b/c there will be absolutely nothing to report for 2-3 months at a time -- the banks are that slow. Basically, sit back, and in 6-9 months from now we'll know if the bank is willing to do the short sale. Sickening, maddening, and crazy I know, but that's the way these banks operate. I'm prepared to close on these deals in 2-weeks, but the banks keep the process to a crawl. For your own sanity, just put it out of your mind and rest assured we're working on it. If anything important happens we'll let you know. Nothing important will happen for months. Yes, I'm brutally honest, but that's the way I operate. I tell people the truth!

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Monterey County, CA
- Big Sur - Carmel Valley - Gonzales - Marina - Moss Landing - Salinas - Seaside	- Carmel - Carmel by the Sea - Greenfield - Monterey - Pacific Grove - Sand City

« Monterey County, CA »
Big Sur	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Monterey County Sheriff's Department (831) 755-5111 web site Fire Big Sur Volunteer Fire Brigade (831) 667-2113 web site
Carmel	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water California-American Water Company (831) 646-3214 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Carmel Police Department (831) 624-6403 Junipero Ave, Carmel, CA 93923 Fire Carmel Valley Fire Protection District (831) 624-5907 web site
Carmel Valley	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Garbage Carmel Valley Mini Transfer & Recycle Station (831) 658-5678 Carmel Valley Village, Carmel Valley, CA 93924 TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Monterey County Sheriff's Department (831) 755-5111 web site Fire Carmel Valley Fire Protection District (831) 624-5907 web site
Carmel by the Sea	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Carmel Police Department (831) 624-6403 P.O. Box 600., Carmel-by-the-Sea, CA 93921 Fire Carmel-by-the-Sea Fire Department (831) 620-2030 On 6th Ave between Mission and San Carlos Streets, P.O. Box 6418, Carmel-by-the-Sea, CA 93921
Gonzales	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Gonzales Police Department (831) 675-5010 web site Fire Gonzales Volunteer Fire Department (831) 675-3677 web site
Greenfield	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage Greenfield Recycling (831) 970-3114 455 El Camino Real Suite B, Greenfield, CA 93927 Water/Garbage Public Works Department (831) 674-5591 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Greenfield Police Department (831) 385-8311 web site Fire Monterey County's Consolidated Emergency Fire Dispatch Center (831) 674-5461 web site
Marina	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Marina Coast Water District (831) 384-6131 web site Garbage Carmel Marina Corporation (831) 384-5000 web site Garbage Public Works Department (831) 884-1212 web site Garbage Monterey Regional Waste Management District (831) 384-5313 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Public Safety Department (831) 884-1210 web site Fire Public Safety Department (831) 884-1210 web site
Monterey	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Water California-American Water Company (831) 646-3214 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage City of Monterey Recycling Pages (831) 646-3914 web site Garbage Monterey City Disposal Service (831) 372-7977 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Monterey Police Department (831) 646-3830 web site Fire Monterey Fire Department (831) 646-3900 web site
Moss Landing	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage Monterey Regional Waste Management District (831) 384-5313 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Monterey County Sheriff's Department (831) 755-5111 web site Fire Salinas City Fire Department (831) 758-7261 web site
Pacific Grove	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Water/Garbage Pacific Grove Department of Public Works (831) 648-5722 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Pacific Grove Police Department (831) 647-7900 web site Fire Pacific Grove Volunteer Fire Department (831) 648-3110 web site
Salinas	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water California Water Service (831) 757-3644 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage BFI Waste Services of Salinas (831) 775-3840 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Salinas Police Department (831) 758-7286 web site Fire Salinas City Fire Department (831) 758-7261 web site
Sand City	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Sand City Police Department (831) 394-1451 web site Fire Monterey Fire Department (831) 646-3900 web site
Seaside	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Carmel Police Department (831) 624-6403 P.O. Box 600., Carmel-by-the-Sea, CA 93921 Fire Carmel-by-the-Sea Fire Department (831) 620-2030 On 6th Ave between Mission and San Carlos Streets, P.O. Box 6418, Carmel-by-the-Sea, CA 93921
Gonzales	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Gonzales Police Department (831) 675-5010 web site Fire Gonzales Volunteer Fire Department (831) 675-3677 web site
Greenfield	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage Greenfield Recycling (831) 970-3114 455 El Camino Real Suite B, Greenfield, CA 93927 Water/Garbage Public Works Department (831) 674-5591 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Greenfield Police Department (831) 385-8311 web site Fire Monterey County's Consolidated Emergency Fire Dispatch Center (831) 674-5461 web site
Marina	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Marina Coast Water District (831) 384-6131 web site Garbage Carmel Marina Corporation (831) 384-5000 web site Garbage Public Works Department (831) 884-1212 web site Garbage Monterey Regional Waste Management District (831) 384-5313 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Public Safety Department (831) 884-1210 web site Fire Public Safety Department (831) 884-1210 web site
Monterey	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Water California-American Water Company (831) 646-3214 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage City of Monterey Recycling Pages (831) 646-3914 web site Garbage Monterey City Disposal Service (831) 372-7977 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Monterey Police Department (831) 646-3830 web site Fire Monterey Fire Department (831) 646-3900 web site
Moss Landing	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage Monterey Regional Waste Management District (831) 384-5313 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Monterey County Sheriff's Department (831) 755-5111 web site Fire Salinas City Fire Department (831) 758-7261 web site
Pacific Grove	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Water/Garbage Pacific Grove Department of Public Works (831) 648-5722 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Pacific Grove Police Department (831) 647-7900 web site Fire Pacific Grove Volunteer Fire Department (831) 648-3110 web site
Salinas	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water California Water Service (831) 757-3644 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage BFI Waste Services of Salinas (831) 775-3840 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Salinas Police Department (831) 758-7286 web site Fire Salinas City Fire Department (831) 758-7261 web site
Sand City	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Sand City Police Department (831) 394-1451 web site Fire Monterey Fire Department (831) 646-3900 web site
Seaside	top
Service Company Phone Address Electricity/Gas PG & E 1-800-743-5000 web site Water Monterey County Water Resources Agency (831) 755-4860 web site Water Monterey Peninsula Water Management District (831) 658-5600 web site Water Seaside Municipal Water System (831) 899-6825 web site Garbage The Salinas Valley Solid Waste Authority (831) 755-1300 web site Garbage Monterey Regional Waste Management District (831) 384-5313 web site TV Cable Comcast 1-800-266-2278 web site Phone Local/Long Distance AT&T 1-800-310-2355 web site Police Seaside Police Department (831) 899-6748 web site Fire Seaside Fire Department (831) 899-6790 web site
Information deemed reliable but not guaranteed to be accurate.

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