The Albany NY real estate market is still alive and kicking. Every day we’re reminded by the media that homes aren’t selling but we’re happy to report that Cathy P. sold her Brunswick home and saved over $10,000 in real estate commissions.

Cathy reported…
“Good news. My closing has been scheduled. The house is “SOLD”. Thank you for all your help. I am one of those happy people you advetise ‘SOLD MY HOUSE ON FSBO’.”

It’s no secret that many homeowners, both locally and around the country, are feeling the effects of the weakened economy fueled by our current housing crisis, rising costs of living and negative job growth. This current economic climate puts some homeowners behind on their mortgage payments and then ultimately at risk of facing foreclosure and losing their homes.

MSNBC reports that help may be on the way. As some may remember, control of IndyMac bank was taken over by the FDIC a few months back. Well now the FDIC is “experimenting” with a program to help homeowners who have fallen behind and risk losing their home.

The new “Loan Modification” program does not forgive debt. In the case of the family profiled in the story, the interest rate was lowered from 6% to 3% for a 5 year period and increased the term of the loan from 30 years to 40 years. This resulted in reducing the mortgage payment from $3000 to $1700.

According to FDIC Chairman Sheila Bair this program has already helped 5,100 families stay in their homes. Other banks including Bank of America are introducing similar programs.

Check out the full story here…

Don’t miss the next deadline of For Sale By Owner Magazine, Tuesday, November 11. The magazine will hit the stands in hundreds of high-traffic locations on November 20.

It’s still a good time to sell your house! Interest rates are low (but perhaps not for long), and Albany Homes are selling! Make sure your home is showcased in its best light in our full color magazine and fabulous new multi-photo website. Advertise NOW and get a full free month of advertising! Call us today at 518-452-6330 for details!

Remember, selling your home is easy and we are here to help every step of the way!