Leonard of Medley & Kosakoski, LLC
2839 Paces Ferry Rd Ste 850 Atlanta Ga 30339
770 319 7592 P 770 319 7594 F
Saved my butt on a short sale!!! Came through in a flash with HUD- add him to your list and give him some business, can’t thank him enough for helping ME- help my distressed seller!
Public reports of the removal of the Georgia Homestead Exemption have left homeowners confused and agents unsure of what to say in their annual home buyer letters.
The standard homestead exemption (and other exemptions based upon age) still exist and have not changed.
What has been eliminated is the money that the homeowner may have also received under the Homeowner’s Tax Relief Grant. The measure was passed by the Georgia legislature but was not funded by the state for 2009 due to budget constraints. It will only be funded if state revenue grows 3% plus the rate of inflation.
The result will be an average increase in property taxes of $300.00.
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* Information received from:
Morris Hardwick Schneider
Nikki Gilbert Fernandez
Today at a closing, my seller gave the buyer a check to help start her off in her new home with window treatments! I thought this was a pretty amazing gesture which spoke millions about his character. – I work for the best!
Check out my properties above for what’s hot!
(P.S. it was a small token, no cash back for purchasing!)
Daily Real Estate News | November 12, 2007
Home buyers should take care not to run up a lot of debt between the time they are approved for a mortgage and the day they go to the closing table.
Many lenders are pulling credit history and credit scores within a week of a buyer’s scheduled closing date just to make sure nothing major has changed. What the lender doesn’t want to see is a huge run-up of credit-card debt or other loans.
The lender also may require the borrower to sign a statement at closing affirming that there has been no change in the borrower’s financial ability to repay the loan and that the borrower’s employment status remains the same.
Home buyers should be particularly cautious not to throw their debt ratio out of whack by buying things for the new home before they own it because the added debt might change their credit score and the lender may no longer be willing to lend them money at the rate promised, or maybe not at all.
The best advice, experts say, is to wait to do that shopping until after closing.
Source: Ilyce Glink, Real Estate Matters Syndicate (11/09/2007)