The Deal of the Day will feature a top real estate investment deal based off of potential cash flow and potential price appreciation.  This particular deal may appeal to either an investor or a homeowner.

Located in the Lake Windemere area in the Raleigh neighborhood of Memphis, Tennessee.

Today’s Deal of the Day: 3895 LAKEWOOD DR (PDF)

Type: Single-family

Asking Price: $40,000

Listed: 04/14/2010

Statistical Market Price: $90,405 (PDF)

Potential Equity: $50,405 .

 

Want more information: Call Za!  901-791-4383 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

NOTE: True market value and profit potentiial cannot be determined until after a thorough due diligence period including but not limited to physical inspection, financial analysis, title search.

Listing Courtesy of Livingston and Associates

There is still time to benefit from the homebuyer tax credit which allows you to get back up to $8,000 from either your 2009 or 2010 tax return.  The next major deadline is April 30, 2010.  By this date, you have to have a contract signed on a house.  With the great selection of deals in the Memphis area, it is very plausible that you can find your dream home with the next few days.  So stop what you're doing and contact your favorite real estate agent TODAY!  Click here for details on the tax credit.

Looking for a top-notch Memphis real estate agent that will ensure that you find your dream home at the best price possible, call Za at 901-791-4383 or email her at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

Lenders are selling second mortgages and home-equity lines in default to collection agencies that have the right to collect this money potentially for decades.

"It's a big business, and investors are coming out of the woodwork," says Sylvia Alayon, a vice president for Consumer Mortgage Audit Center, which analyzes mortgage documents for lenders, advocacy groups, and attorneys.

People who cashed out refinances, or had part of their mortgage debt forgiven when they sold their homes through short sales, will probably owe the IRS a big payback.

In 2007, Congress passed the Mortgage Forgiveness Debt Act, but that doesn’t let everyone off the hook.

Here are exceptions to the rule: