MARS, and Hardest hit in Rhode Island programs you need to be aware of.

This is a quick post for those of you out there floundering in all the big foreclosure and short sale mess.
First, this website will let you know the new RULES regarding everyone involved in Short Sales, the Realtors, Attorneys, etc and what they can and can not do.   You need to be aware that not all providers know what they are doing.  http://business.ftc.gov/documents/bus76-mortgage-assistance-relief-services-rule

Second, if you live in Rhode Island and have not managed to get your mortgage loan modified, and feel you have a legitimate reason for being behind on payments, be sure to use a HUD approved counselor. Here is the page for Rhode Islands' hardest hit. Names, numbers, faqs....all are here. Don't wait until it's too late.
http://www.hhfri.org/HHFRI_Default.aspx?id=10737418257&ekmensel=c580fa7b_10737418238_10737418239_btnlink

HUD HOME new on Market! Only $85,000!!!

HUD Home # 451-068996

Needs work

Great opportunity to own in Warwick, RI!

This home has a lot of potential. A large attic can be expanded to be another bedroom.

This home is FHA insured and qualifies for 203K Rehab loan.

Home is sold as is, and is available to owner occupants up to 2/12/2011

For further details see www.hudhomestore.com

To see a tour of this home, click here

Karen Hurst is the Neighborhood Listing Broker (NLB) for Hud Homes

Seasons Greetings from Stonehurst Realty

~Wishing all my Family, Friends, Clients and neighbors a Wonderful Holiday Season~

See you in January. It's definitely time to buy your new home before the mortgage rates get any higher!  And if you are thinking of selling, there are buyers out there.

Foreclosure halts across the nation

If you are reading all the news about banks halting foreclosures across the nation due to what they call "robo-signing", you may be wondering how this affects Rhode Island foreclosures. Rhode Island is a non-judicial foreclosure state. This means that these problems will NOT affect Rhode Island foreclosures.  The 23 states that are affected are Judicial states.

UPDATED 10/08/2010

All 50 states are now being affected by BOFA and some others.
This should "not" affect short sales.

Oakland Beach Fireworks Warwick RI

Saturday Night at the Seawall at Dusk!!

Get there early for a good spot, and stop at Iggy's or the Carousel for some great food

Happy Independence Day Warwick

Investors!! Lowest priced MULTI FAMILY in West Warwick!!!

Brand new price!  This is,  as of right now,  the lowest priced multifamily home in all of West Warwick, Coventry and Warwick!! You cannot go wrong.  This must be a Cash or 203K rehab loan due to work needed. First apartment is two beds and both apartments have a rear backyard with plenty of parking and a deck. Don't be fooled by the front of the house, take a look from the rear. This would be a great rental property after you fix it up! Offered at the amazing price of $85,000!!! Must have proof of funds with offer. Property is AS IS and bank owned.    Email Karenhurst at rihome.net for a showing.

Does length of unemployment indicate the real estate sectors health?

I have always thought that the job market had a direct relationship to the Real Estate market. Below is an article that backs up my opinion. Rhode Island is once again near the top!!! (and as usual, not in a good way)

We need jobs to encourage this economy and not minimum wage jobs but good paying jobs!

The banks are now looking at potential home buyers with so much scrutiny, that it is making it nearly impossible to get a mortgage.  There are a large percentage of Rhode Islanders' that are either going through, or have just gone through a short sale or a foreclosure!  These people will not be able to buy at least for 3 years! 

The few that can afford to actually make a mortgage payment and still continue to exist need to know that they will be getting periodic raises and have some kind of security regarding their place in the job market.in Rhode Island

I am just a Realtor in Rhode Island. I do not know the answers on what to do about the job market. I do know that most of the industry in Rhode Island has disappeared. We are now a hospitality state, which would be great if the beaches remained open during the summer, at least.

Here is the article
Does length of unemployment indicate the real estate sector’s health?

Meanwhile, I am here to help people find homes. Rhode Island has the potential to be one of the nicest states around!

Photo by Karen Hurst of former Rocky Point