Tucson, AZ

Don & Kathy Vallee, residential REALTORS have been with RE/MAX since 2001. Just recently moved to a new brokerage firm in Tucson, RE/MAX Excalibur Realty-Tucson office. Howard Lein the owner of RE/MAX Excalibur unveiled the new video title, The Problem with RE/MAX, at the 2010 sales rally in February.

RE/MAX AGENT Don Vallee EARNS

LIFETIME ACHIEVEMENT AWARD

01/05/2010, Tucson, Arizona - Don Vallee – Vallee Gold Team, with RE/MAX Excalibur Realty, has been presented with the RE/MAX Lifetime Achievement Award, which honors highly successful agents who have earned more than $3 million in commissions and have completed seven years of service with the company.

Vallee has been working in the real estate industry for more than 10 years and has extensive experience in Certified Distressed Property Expert, Luxury Home Specialist, Certified Residential Specialist, Short Sale Expert. Among Vallee’s achievements are RE/MAX Platinum Club, RE/MAX 100 Percent Club & Hall of Fame.

“Vallee has been an integral member of our team and is more than deserving of this very prestigious award,” said Howard Lein, Owner of RE/MAX Excalibur Realty. “Winning this award is a tremendous accomplishment. Vallee continues to raise the bar in real estate, making us, and this community proud.”

RE/MAX has nearly 100,000 agents worldwide and continues to lead the industry in top markets with cutting-edge technologies like the comprehensive property search engine on www.remax.com and the RE/MAX Satellite Network (RSN), that provides Associates with award-winning programming, coaching and training in the convenience of their offices or homes.

About RE/MAX Excalibur Realty

RE/MAX was founded in 1973 in Denver, Colorado by Dave and Gail Liniger. It has grown to a global network of nearly 100,000 Sales Associates in more than 70 countries. No one sells more real estate than RE/MAX. Today, all U.S. home listings in thousands of cities and towns can be found at www.remax.com.

RE/MAX is proud to help raise millions of dollars and support charitable organizations like, Susan G. Komen Race for the Cure, Children’s Miracle Network and The Sentinels of Freedom Foundation.

For More Information Contact: Don Vallee

  (520)219-1024 or don@donvallee.com

What are your financial goals for 2010?  Do they include buying real estate?  Do you feel that real estate will be a good investment in the next 2 years? 5 years? 10 years? Has real estate been a part of your retirement portfolio? Do you view real estate as an investment? Do you plan on having some equity in your home by the time you retire?

Have you heard that Lenders actually want to help you avoid foreclosure? Well they do…so let’s talk about it.
Did you know that many lenders today are accepting more short sales and deed-in-lieu-of transactions everyday–especially short sales–why? To eliminate unecessary foreclosures.
So which option is right for you?
As a Certified Distressed Property Expert, CDPE, we have been trained to assist homeowners facing these difficult situations. we can eliminate confusion and ease frustration by providing you with the information you need to make a good decision related to your financial security.
We have created a free report regarding “Short Sales” and “Deed-in-Lieu-of Foreclosure.”
You can access the reports at our website:
http://www.FindTucsonShortSales.com
If you or someone you know owes more on a mortgage than it’s
worth, you deserve to be educated on options to protect you from financial ruin.
WE CAN HELP! we have closed over 25 Transaction Short Sales this Year!
CDPE,LLC

The “Home Affordable Foreclosure Alternatives” (HAFA) does not take effect until April 5, 2010.
If the loan meets the following conditions then you may qualify:
Property is borrower’s primary residence.
Loan is a 1st lien mortgage
Loan originated before January 1, 2009
Mortgage is delinquent or default is resonably foreseeable
Current unpaid balance is equal to or less than $729,750
Borrower’s total monthly mortgage payment exceeds 31% of borrower’s gross income

For more information contact: Don Vallee-Tucson Certified Distressed Property Expert, CDPE
Direct: 520-219-1024
Learn more go to: http://www.FindTucsonShortSales.com

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New Short Sale Guidelines Announced By Treasury on
Tucson Local News

Monday the U.S. Treasury Department’s announced the long-awaited guidelines to streamline Short Sales. According to Don Vallee with RE/MAX Excalibur this will have a significant impact on families facing foreclosure.
“While the plan doesn’t include all of our suggestions, we feel it’s a big step in the right direction,” Liniger says. “These new policies will make Short Sales much more attractive to our clients and much easier for us to complete.”

• Watch a Dave Liniger video about the guidelines.
• Read a Reuters news article about the Treasury plan.
• Check out “www.FindTucsonShortSales.com,” and
• Get Short Sale information from NAR’s REALTOR.org site, including details on HAFA.
• Download a HAMP press release.
• Download a HAMP Supplemental Directive that spells out the details.
With unemployment over 10 percent and millions of adjustable-rate mortgages primed to reset next year, a “tsunami” of distressed properties could be on the horizon, Liniger says. The new guidelines, as well as a growing acceptance by lenders and second-lien holders, give homeowners a better chance of closing a Short Sale rather than losing their house to foreclosure.
Here are some of the program’s key guidelines (download the program’s full details in the HAMP Supplemental Directive):
• Lenders must respond to Short Sale requests within 10 business days of receipt of the offer package.
• The seller will be released from all liability for repayment of the mortgage debt.
• Subsequently, the seller is entitled to a relocation incentive of $1,500, which will be deducted from the gross sale proceeds at closing.
• The lender will be paid $1,000 to cover administrative and processing costs for a Short Sale or a deed-in-lieu.
• The property must be listed with a licensed real estate professional who does regular business in the community where the property is located.
• The lender is prohibited from requiring, as a condition of approving the Short Sale, a reduction in the agreed-upon real estate commission.
• The investor will be paid a maximum of $1,000 for allowing a total of up to $3,000 in Short Sale proceeds to be distributed to subordinate lien holders, or for allowing payment of up to $3,000 to subordinate lien holders.
In September, Dave Liniger met with Housing and Urban Development Secretary Shaun Donovan and other U.S. housing officials to discuss the need for prompt action. A meeting with Sen. Harry Reid (D-Nev.) also moved the process along.

As Tucson Short Sale Specialists and Certified Distressed Property Experts, CDPE we have been advocating Short Sale over Foreclosure for some time. We have the training in Short Sales and REOs, and this education will continue to play a vital role in order for our team to successfully handle Short Sale transactions.

Let’s take a look at the New FHA

There are many misconceptions concerning FHA. We would like to discuss some of the common questions concerning FHA insured financing.

Why is FHA An Attractive Option fro Today’s Homebuyer.

• It is a lot simpler to finance with FHA than it was 20 years ago.  Now a (direct-endorsed) lender has complete control, all the way from application to closing.

• Buyers will find good values with FHA.

• FHA requires low down payments and the underwriting costs are very competitive.

• FHA has an excellent loss-0mitigation program, with a solid track record of assisting their home buyers through tough times.

How Do buyers Qualify For an FHA Backed Loan?

• FHA does not use a credit scoring system.

• With higher debt/income ratios, buyers may qualify fro a higher mortgage amount with FHA than what is available to them with “other prime” products.

• FHA has increased the minimum down payment amount from 3% to 3.5%.

• Gifts are permitted from relatives.

• FHA guidelines have changed so much so that they will not ask for repair or cosmetic defects, minor defects or normal wear and tear. They are concentrating more on the valuation of the property.

• FHA permits borrowers to pay virtually all closing costs, except the tax service fee.

• Under FHA, sellers can contribute up to 6% of a property’s sales price toward the buyer’s actual closing costs, prepaid expenses, discount points and other financing concessions.

• The mortgage cannot include any cash back and all seller concessions must appear on the HUD statement.

How does FHA Help Buyers Who Want to Rehabilitate Properties?

FHA’s 203 (k) rehabilitation program has been around for many years and used to be very difficult and expensive to set up.  FHA has streamlined the 203 (k) program, making it very easy to arrange this type of mortgage.

Process:  If repairs to the home cost less than $15,000, FHA offers a very simplified process that requires no inspections.

• If more than $15,000 FHA will allow fro home repairs and improvements up to $35,000 to cover things like purchasing and installing new appliances, repairing or upgrading HVAC systems, or adding a patio or porch to a home.

• What does this mean to you? In today’s market, we need every possible tool available to us to help get buyers into a home. Now FHA offers an attractive and competitive product.

There are (2) key resources:

www.fha.gov

www.realtor.org/government_affairs/fha_toolkit

Contact Don or Kathy Vallee to start your home search today