mtegan1's Advice

what is the banks incentive to do this? they are going to remove their insurance that they will get a premium for your house because???  What you are asking for is them to do you a favor and i am afraid any business that is trying to make money will tell you no.  I feel your pain with the pending job loss but looking to get out of paying PMI is not possible in your situation.  I would look towards limiting your liabilities(canceling cable tv to your house, etc), saving up as much as you can prior to losing your job, researching unemployment, and preparing yourself financially as much as possible.  I would research this new federal bailout and look for anything beneficial.  You are not alone in your situation.  Good luck

It is no longer a 7500 tax break but is instead an 8000 first time home buyer credit that does not need to be repaid.  Details can be found here:http://www.fivecentnickel.com/2009/02/12/8000-homebuyer-tax-credit/it is phased out for individuals making over 75K and couples over 150K.  good luck

Herman is correct.  it is now an 8000 credit that does not need to be paid back  for first time homebuyers who bought between January 1, 2009 and Dec 1, 2009.  Previously you were allowed a 7500 credit that would entitled you to 2 years with no payments and then $500 dollar a year payments for 15 yrs which = a zero interest loan pretty much.  You can look up the bill in the library of congress and check it out for yourself if you like.  cheers

Bad news the 15,000 tax break was dropped from the law going to obama's desk.  They still might have amended the original 7500 dollar first time homebuyers deal but no one knows yet...

It is going to stay the same as it was.  7500 zero interest loan two years no payments and then payments for 15 yrs out of your income taxes.

have your house re-appraised, find comparable sales in your area, and bring your evidence to your local tax office and ask about the process.  Finding the proof that your property has declined is sometimes hard.  Find Comps with similar sq footage, pools/no pool, central air, porch, etc...

Both have different risks associated with them.  Near impossible to buy at an auction if you require a mortgage, the possibility of dealing with obtaining the certificate of occupancy or vandalism in unkept properties, and ... tons of potential set backs.  REO's can be good investments for knowledgeable people with lots of cash to invest but can still turn sour very quickly.  If you are still interested i would reccomend obtaining legal counsel from an experienced real estate attorney who has dealt with auctions and REO's previously to help protect you.  Experience is key!

You have the option to claim it in either 2008 or 2009.  If you have already filed your 2008 taxes then you can always go back and amend your return.  The problems with waiting for 2009 is mainly in your earnings.  If you and your husband or you alone will go above the income cap in 2009 then you will lose a good chunk of that 7500 but with 2008 you already know your total income.  If you claim your 7500 in 2008 you will also have to start repaying it back on your 2010 income tax vs 2011 if you take it in 2009.... just so you know.

Most mold in houses are easily rectified unless it is over 100 Sqft.  Stop the reason for the moisture in the first place and it is relatively easy and inexpensive to get rid of the mold.   If you demo the shower and replace the tile you are opening up yourself to all kinds of potential problems.  Wood rot, hidden leaks behind the wall, a leaking shower pan, ....  The best option for you is to give them a credit at closing or a lower asking price.  Chances are they would like to pick out the tile themselves and that should be how you get them to agree to it. 

The "all mold is bad!  run away from a house with mold" is classic and stereotypical of clueless real estate agents who dont know any better.  I would suggest reading up on mold and remediation.  Even severe cases of mold can be fixed properly for less then you think.  Proper ventilation in attics and eves and using the proper materials is a huge step in the right direction.  DO not use bleach to kill mold!!!  it is impossible to "kill" every mold spore and while it may be fun to see it bubble and "die"  it is less effective then other chemicals.  Depending on where you have mold and if the space is a living space should be questions on choosing a mold killer.  Some are great and will penetrate wood and seal, kill, and prevent future growth but have serious chemicals in them while others are more green.  The people with the lest amount of knowledge in this area are the ones that are perpetuating this rumor...