homeownership: Help for Unemployed Homeowners through the Making Home Affordable Programs - 07/03/10 11:49 AM
Beginning August 1, 2010...participants in the Making Home Affordable (MHA) Program will be assisting homeowners who are currently unemployed. The Unemployment Program (UP) offers homeowners a forbearance period to temporarily reduce or suspend their monthly mortgage payments while they seek re-employment. These loans are held by Fannie Mae or Freddie Mac, to read the guidelines for the Unemployment Program for non-GSE servicers, click here.
PROGRAM DETAILS: Minimum forebearance period is 3 months (the mortgage servicer has the option to extend this period depending on the investor and regulator guidelines). If the homeowner becomes employed then the forebearance … (5 comments)
homeownership: Giving A Good First Impression on that Short Sale property For Sale - 03/13/10 11:22 AM
After showing a few short sales and bank owned homes and comparing the two, I've realized that they are running neck in neck on the type of condition that they are in. Being an agent in this market, I have developed a certain empathy and understanding for the situation that distressed homeowners are in. However, when listing a short sale property we make it a point to ask the homeowners to keep the home clean, especially when showing it to buyers. What I've realized is that although buyers understand the market that they are purchasing in, not much has changed … (4 comments)
homeownership: Path To Homeownership: Homeowner Associations - 03/01/10 05:09 AM
WHAT IS A COMMON INTEREST DEVELOPMENT (CID)? Common Interest Development (CID) allows homeowners the use of common property and facilities and provide for a system of self-governance through an association of the homeowners within the CID. CIDS come in a variety of types and styles, such as single family detached houses, two story townhouses, garden style units with shared "walls". When a homebuyer purchases a home, townhouse, condo or PUD in a common interest development, they become a member of that association. During the home buying process, the homeowner obtains a copy of the Declaration of the Covenants, Conditions, and Restrictions (CC&Rs), which … (2 comments)
homeownership: Path of Homeownership: Open of Escrow. Time For Inspections - 01/27/08 12:03 AM
Now that your offer has been accepted there are a number of steps that will need to be taken care of until the closing process is complete. So, it is important to give the same amount of attention to the closing process as you did during hunting for your home. The concept of an Escrow and Title Escrow Company is to operate as an uninterested third party in Real Estate Transactions. Title Companies act as an intermediary between buyers and sellers, or their agents, and ensure that everything in the transaction goes according to the sales contract. This offers protection to all … (0 comments)
homeownership: Path To Homeownership: Making The Offer - 12/28/07 05:13 PM
In a previous article I wrote, Path to Homeownership: House Hunting I described how to inspect a house using your 5 senses. While house hunting, it is a good idea to write down notes on what you have seen. Write down the good, the bad, and the ugly. Throughout the day, you may have looked at several houses, so it is a good idea to have a checklist for each home you visited. At the end of the day, if you have determined which home is of interest to you, look at your notes. Revisit your budget. Determine the most you … (4 comments)
homeownership: The Path To Homeownership: Learn About Homebuying Programs - 12/25/07 01:08 AM
Whether you are looking to purchase a house or not...you have either heard about or read about the current Real Estate market. You've heard about the mounds of homeowners in foreclosure, you've heard about Short Sales and Bank owned properties. Well, as a homebuyer what does that mean to you? Interest rates and home prices are low and now is a great time to be in your shoes. It is time to invest in you and your family! In my previous blog, The Path To Homeownership: Determine Your Wants and Needs, I suggested Homeowners write down what they are looking … (2 comments)
homeownership: Path To Homeownership: Determine Your Wants & Needs - 12/21/07 11:53 AM
As a first-time homebuyer, you can get overwhelmed with information...from loan information to real estate information...from learning experiences from friends and family to reading information on your own. So, as your Real Estate Agent it is important to us that we help you gain Real Estate knowledge without being overwhelmed and discouraged. If you are looking to become a homeowner and don't know where to start...a good place to begin is...writing down your wants and needs. What are your reasons for moving? Is it because of the location? Is the family getting bigger or smaller? Is the kitchen too small or … (2 comments)
homeownership: Tips On Budgeting for Homeownership - 06/21/07 12:02 AM
Buying a home is a huge responsibility with an enormous advantage in return. A potential buyer will have to set and have patience on reaching the goal of purchasing a house. Knowing what you can afford is essential to being a successful homeowner. Once you understand what you are bringing in and determine where your money is going, you can begin to accumulate the needed funds for owning a home. If you are burdened by debt together we can determine what is the best way for you to bring that debt down. With some discipline and creative strategies you can probably … (1 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Beginning August 1, 2010...participants in the Making Home Affordable (MHA) Program will be assisting homeowners who are currently unemployed. The Unemployment Program (UP) offers homeowners a forbearance period to temporarily reduce or suspend their monthly mortgage payments while they seek re-employment. These loans are held by Fannie Mae or Freddie Mac, to read the guidelines for the Unemployment Program for non-GSE servicers, click here.
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