This sentiment is quite unfortunate.  I often hear people who are feeling the financial squeeze and emotional toll when faced with foreclosures, that they tell me they're ready to throw the towell and let the lender take the property. 

Their argument becomes one of desperation, stating that they no longer care if their credit gets worse - "after all...how worse can it get?" they say.

So, when you say you've decided to let it go in foreclosure, do you mean you intend to do nothing and just let it go?  Well, consider the following:

If you're defaulting on your mortgage, even if you have two or more loans, I believe (take it with a grain of salt - I don't know how the FICO algorithm will ultimately score this), stopping payments on both will not worsen the effects to your credit score more than the foreclosure will. 

Not only can a day impact your life, in our business, being with the right company can help make it even sweeter!

As a member of RAMB and Keller Williams Realty, I consider myself to be extremely lucky (though I feel luck is simply when preparation meets opportunity).  Keller Williams is so training intensive, it provides countless hours of video and other type of online training to their associates.

In addition, there are workshops called camps (like Camp 4.4.3 and Camp 36.12.3), that help newbie and seasoned Realtors take control of their business like no other company can.  Of course, KWs corporate culture is to offer all training with open doors to anyone from any Realty company with the intent of bettering our industry and sharpenning our agents in order to properly compete in this and any market.

I tend to attempt to paint a positive picture about our real estate situation that seems counterintuitive or even hype to some. 

My goal however, is to persuade buyers to get off the fence by bolsting about the positive strides we're making in our Miami real estate market, to ensure they take advantage of what is available NOW, but which will not last too much longer. 

Remember, we've been at this for arguably about 3 years and in my opinion, we may have 6 months to a year more to go, if that long at all.

You see, overall, and although inventories have continued to rise over the last 6 months, we have also seen a steady increase in the number of sold properties as well as those pending (under contract). 

I often receive information requests for advise on how to handle landlord-tenant matters.  Well, here's an article recently published in a newsletter I receive online from www.completelanlord.com.  Although short and that I have not used their services, I felt that the information was relevant and good. 

The only thing I changed are the hyperlinks which go to Wikipedia for a definition instead of to ordering the particular form online at their website.  Of course, you can click the above link and purchase the forms from them.

Though quite general, follow the next 10 steps as a guideline on how to prepare for homeownership.

1. Decide how much home you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.  A mortgage professional can help you get pre-qualified.

2. Develop a wish list of what you’d like your home to have and a list of what you must have in your home. Then prioritize the features on your list.

At REALTOR.com’s new “Find aNeighborhood” site, home buyers and real estate investors now have another tool to add to their online arsenal of research resources.

Site visitors can now learn how many homes are for sale in a given market or defined geographic area, research the rental market, collect demographic data, and even learn about lifestyle profiles in specific neighborhoods.

Selling a home is like climbing Mount Everest – getting a signed contract is a great accomplishment, but that's only half the journey. The typical home sale today involves more than 20 steps after the initial contract is accepted to complete the transaction.

The news reports can be very scary and confusing to say the least.  Take a look at some recent headlines:

Foreclosures up 57 percent in the past year-Cape Coral-Fort Myers, Fla., leads U.S. with highest rate of any metro area

Home sales fall to lowest level since 1999 - Median price down nearly 5 percent from a year ago, Realtors report

The market may be turning and therefore, the time has come to reevaluate your mortgage situation by studying the different types of mortgages that are still available for most people out there.  In general, consider the following:

Conventional Conforming:

Well, the much anticipated Economic Stimulus Package was signed by President Bush into law (click HERE for more).  The question in everyone's mind is, will it work, and when?!

Not only that, but it begs the question what to do with the money received (for suggestions, read HERE)?