November 2009

Extension And Expansion Of Home Buyer Credit-4/30/2010

A Big WOW!!  The credit has been expanded to include homeowners who have owned their home for the past 5 years. No longer do you need to be a first time buyer.  The dollar limit is $8000 for first time buyers and $6500 for move up buyers.  This GREAT news.  Combine this with 50 year lows in interest rates, and you’d be crazy not to consider making a move.  If you feel secure in your job, think hard about buying  home at this time.  We can help you make the right move. Visit this site-which is from the National Association Of Home Builders  http://www.federalhousingtaxcredit.com/faq2.php This site give you all the rules and regulations as they now apply.

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Why Foreclosure Is Often Preferred By The Loan Servicer Instead Of Offering A Loan Modification

Have you ever wondered why a foreclosure occurs when a better solution might have been a modification?  Would you like to read the facts and figures and see how mortgages are bundled, sold and serviced?  You will soon see it is isn’t pretty, we are in the midst of a crisis, and it is likely to get worse before it gets better.  That being said, you can probably guess why-it’s about the money.  It is a little more complex than that-the report is 60 pages-but is explains the incentive and disincentives that are at conflict within the mortgage market today.  Once you understand how all the pieces go together, you can see that something “different” needs to be done.  I am a strong free market believer, but in this case, the government needs to have a mandate and rule that is guided towards keeping people in their homes.  Left to current industry solutions, the mortgage mess will continue to play out and get worse.  If you click on the link below, you will find the free report from the National Consumer Law Center.

http://www.consumerlaw.org/issues/mortgage_servicing/content/Servicer-Report1009.pdf

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About the Lake Minnetonka Conservation District (LMCD)

Lake Minnetonka is just one of the many natural resource jewels of Minnesota and is located just West of the Twin Cities of Minneapolis and St Paul.

Like many large lakes, it has its share of issues to deal with. From controlling exotic and invasive species such as milfoil, curly leaf and zebra mussels, preventing the introduction of other harmful species to the lake, and setting guidelines for docks and boat landings on the lake, to governing licenses and guidelines for charter boats and issuing liquor licenses for use on some of these charter boats. There are a many issues related to maintaining Lake Minnetonka. These issues are consistent with the issues affecting many other lakes; they’re not unusual.

What is a little unusual about Lake Minnetonka, however, is that Tonka is collectively governed by 14 different city councils. To be technically correct, it should be restated that the lake is governed by an organization called the Lake Minnetonka Conservation District (LMCD) that is run by a Board of Directors consisting of 14 different members, one each from the cities surrounding the lake. The representative from each area is appointed by the City Council of the respective municipality.

Representatives from the following cities make up the Board of Directors: Wayzata, Victoria, Tonka Bay, Spring Park, Shorewood, Orono, Minnetrista, Minnetonka Beach, Minnetonka, Greenwood, Excelsior, and Deephaven.

Lisa Whalen, the representative from Minnetrista, is currently the Chairperson of this Board of Directors. While there can be challenges with such an endeavor, 14 communities working together to manage the lake certainly serves the lake well, ensuring that the decisions being made are all in the best interest of Lake Minnetonka and all the area residents. The organization was created in 1967 and has been working together to manage this one of the Land of 10,000 Lakes ever since.

In addition to appointed directors, the LMCD employs three staff members: an Executive Director, an Administrative Technician, and an Administrative Assistant. The business office for the Lake Minnetonka Conservation District is located at 23505 Smithtown Road, Suite 120, in Shorewood, Minnesota.

The Board of Directors works together to review studies related to lake issues, license applications, and all other lake management issues including how to control exotic and invasive species such as Eurasian Watermilfoil. License issues and applications are typically related to charter boats, alcohol permits, special events, multiple docks, district mooring, and other similar matters. They may also consider other matters as presented.

For additional information about the LMCD, you can call the office at 952-745-0789, view the website at www.lmcd.org, or send an email to: info@lmcd.org To direct specific questions to the Chairperson of the Board of Directors, contact Lisa Whalen atlwhalen@ci.minnetrista.mn.us.
Of course you can always contact The Weeders Digest for additional information that the LMCD may not be able to provide and you can be sure that they will do what they can to direct you to the appropriate resource. 763-551-1441 http://www.WeedersDigest.com

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Home Buyer Tax Credit Information Update

It’s now official!! The tax credit has been extended and expanded. YOU NEED TO HURRY! You now have until the end of April 2010. The following summary of the credit is provided by the National Association Of Realtors. The following two documents cover the changes in the new law. Now get out there and buy a home!!

NAR FAQ: Homebuyer Tax Credit Changes
NAR Issue Brief: Homebuyer Tax Credit Changes

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