Dayton Ohio Real Estate and Mortgages Information

Dayton Ohio Community Information

City of Dayton:

Dayton Ohio is a surprisingly great place to live.  If you are thinking of relocating to or moving with in the Dayton Ohio real estate market... we have a lot to offer.  Just consider what is available within a one hour drive from Dayton Ohio.  

• 70.5% of the Dayton Ohio population has a 30 minute commute or less.
• You will have access to 3 international airports with in about a 60 minute drive... more daily operations then Atlanta, Dallas, and Washington DC.
• A great selection of quality arts and entertainment options... Ballet, theater, fairs, professional sports and Aviation attractions.
• Quality health care facilities, many have won multiple awards from US News & World Report's "Best Hospitals in America" and "Healthgrades" awards.
• More than 10 4-year Colleges and Graduate Schools provide educational opportunities as well as quality job applicants.
• 6 professional sports teams to choose from.
• Several theme parks, Aquarium's, Zoos and museums to visit.   As you can see the Dayton Ohio area has a lot to offer!

Basic Facts:

• As of 2007 Dayton's populations is about 156,771 people.  The growth for the city has been -5.66% since 2000.

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As always, thanks for reading and please feel free to contact us with any questions at 937-353-4600 or Mark@MarkRyanGroup.com

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As always, thanks for reading and please feel free to contact us with any questions at 937-353-4600 or Mark@MarkRyanGroup.com

Need to Stop Foreclosure... Now what about the taxes?

I am asked all the time by clients and homeowners facing foreclosure or are in pre foreclosure in the Dayton Ohio area several questions:

• How do I Stop Foreclosure in Dayton Ohio?
• How do I avoid Foreclosure in Dayton Ohio?
• What is a Short Sale and how can that stop foreclosure?
• I need Short Sale Help, where do I turn?
• What is the difference between pre foreclosure and foreclosure?
• Where can I find foreclosure help?
• If I sell as a Short Sale what happens to me with taxes?
• How do I know if my agent knows how to do a short sale?

For this article, lets focus on the tax issue with short sales.  I get that question from almost every client I meet with.  "How will a Short Sale Help and what about the taxes?"  Lets review that.

Short Sale Help and your Taxes...

With the The Mortgage Forgiveness Debt Relief Act of 2007 there is a good chance you will not owe taxes as a result of stopping foreclosure with a short sale.  Always check with your accountant on your specific situation.  The basics of the new law are:

1. Debt forgiven from 1/1/2007 to 12/31/2009
2. Must have been your principle residence
3. The principle balance of the loan must be less than $2,000,000 for a married couple...not a problem most Dayton Ohio real estate owners have to deal with.

Read here for recent news directly from the IRS on this topic: Mortgage Workouts, Now Tax-Free for Many Homeowners

Short Sale Help tips.

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As always, thanks for reading and please feel free to contact us with any questions at 937-353-4600 or Mark@MarkRyanGroup.com

Whether you are a seasoned home buyer or a first time buyer in Dayton Ohio these are the words that a Mortgage Broker in Dayton Ohio is going to use.  A good Loan Officer will explain your mortgage from top to bottom but if you have questions and can't get them answered, you must read below:

Mortgage Broker Terms in Dayton Ohio:

Adjustable Rate Mortgage- A Mortgage that permits the lender to periodically adjust the interest rate so that the rate reflects fluctuations in the cost of money.  Also referred to as an ARM.

Amortization Schedule-  A table or chart that shows the periodic payments, interest and principal requirements, and unpaid loan balance for each period of the life of the loan.

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As always, thanks for reading and please feel free to contact us with any questions at 937-353-4600 or Mark@MarkRyanGroup.com