hero program: HOMEPATH PROPERTY ELIGIBLE FOR DOWN PAYMENT ASSISTANCE: Up to $75,000 in Down Payment Assistance for Eligible REO Properties - 06/09/10 02:45 PM
Earlier this year, Fannie Mae rolled out their new program "First Look" in an effort to support neighborhood stabilization and buyers using down payment assistance (dpa) funds to purchase their first home.
With First Look, only offers from owner occupants and buyers using public funds are considered during the first 15 days a property is on the market. Offers from investors will only be considered after the initial 15 day period has passed.
Furthermore, buyers using funds from local housing trust funds may also qualify for the following benefits:
Deposit Waivers - Fannie Mae may waive the earnest money/deposit requirement for … (2 comments)
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hero program: HERO PROGRAM EXPANDS ELIGIBLE AREAS IN LOS ANGELES COUNTY - MONTEBELLO - 06/01/10 03:30 PM
MONTEBELLO, CA - The name, Montebello, which means beautiful hill in both Italian and Spanish, was originally an agricultural community. However, with the discovery of oil by Standard Oil Company, it brought about a revolutionary change and the agricultural hills soon became a major contributor to oil production. Soon its oil fields were producing one-eighth of the crude oil produced in CA.
Montebello is located a few miles east of downtown Los Angeles and is host to one of the area's best-loved attractions: the Grant Rea Park, which houses the Montebello Barnyard Zoo.
The Montebello Zoo is a family … (3 comments)
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hero program: HERO PROGRAM EXPANDS ELIGIBLE AREAS IN LOS ANGELES COUNTY – LAWNDALE - 05/15/10 01:08 PM
First Time Buyers Can Receive up to $75,000 in Down Payment Assistance for Eligible Homes in Lawndale
LAWNDALE, CA - As one of the last cities to be annexed as part of the South Bay of Los Angeles County, Lawndale is also the smallest city in the South Bay.
With only approximately 30,000 residents, Lawndale has always maintained a small town feel to it (as compared to its more populous neighboring cities).
Lawndale is a "young professionals" town with a median age of 29yrs and more than half the residents working in professional occupations (managerial/professional/sales). This makes Lawndale a great place … (6 comments)
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hero program: HERO PROGRAM EXPANDS ELIGIBLE AREAS IN LOS ANGELES COUNTY – GARDENA - 05/11/10 03:59 PM
First Time Buyers Can Receive up to $75,000 in Down Payment Assistance for Eligible Homes in Gardena
GARDENA, CA - With the distinction of being located in the center of transportation access, Gardena is a short commute from not only LAX and the Long Beach Airport but to most of the ports of LA, Long Beach and San Pedro as well.
Gardena boasts easy access to every major Los Angeles County freeway, the 405, 105, 710, the 110 and the 91 freeway too. Gardena has one of the most envied locations in the South Bay as a key point on the … (5 comments)
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hero program: HERO PROGRAM EXPANDS ELIGIBLE AREAS IN LOS ANGELES COUNTY – TORRANCE - 05/07/10 06:10 PM
First Time Buyers Can Receive up to $75,000 in Down Payment Assistance for Eligible Homes in Torrance
TORRANCE, CA - Located along the Pacific Coast of Los Angeles County, Torrance is the heart of the South Bay. Having grown up just north of Torrance (Santa Monica), I can remember when I was a kid visiting with family that lived in Torrance as well as neighboring Palos Verdes.
Back then (circa late 60's and 70's), Torrance was a really small community that was more well known for its shopping, oil rigs and employers (some of the biggest in the area for … (5 comments)
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hero program: HERO PROGRAM EXPANDS ELIGIBLE AREAS IN LOS ANGELES COUNTY – GLENDALE - 05/04/10 08:27 PM
First Time Buyers Can Receive up to $75,000 in Down Payment Assistance for Eligible Homes in Glendale
GLENDALE, CA - Bordering the Verdugo Mountains to the north and Burbank to the west, Glendale is a huge city that is twice the size of Burbank in both land and population. Sprawling across the east San Fernando valley, Glendale has become a metropolis of commerce and entertainment.
Surrounded by several major freeways, Glendale is home to many of the largest employers in the valley as well as some of the prime entertainment and shopping destinations in the county. The newest being the Americana … (2 comments)
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hero program: HERO PROGRAM EXPANDS ELIGIBLE AREAS IN LOS ANGELES COUNTY – BURBANK - 04/27/10 10:12 AM
First Time Buyers Can Receive up to $75,000 in Down Payment Assistance for Eligible Homes in Burbank
BURBANK, CA - I love Burbank and not just because my darling hubby was born and raised there and not because my beloved Papa Jack (pictured) and Mama Jules still live there, just north of downtown, up by Stough Park. I actually like going out to the valley on the weekends to visit with the folks as well as other family members.
Coming out on the Ronald Reagan 118 freeway, it's an extraordinary view seeing Burbank sprawled across the valley floor nestled between the … (0 comments)
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hero program: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: New HERO Program Offer More Eligible Areas for Down Payment Assistance - 03/31/10 03:37 PM
ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: New HERO Program Offer More Eligible Areas for Down Payment Assistance
Last year, the Los Angeles Community Development Commission (LACDC) launched their new Housing Economic Recovery Ownership (HERO). The HERO Program was designed to offer financial assistance to first-time homebuyers in purchasing a vacant, abandoned and foreclosed home located in designated census tracts.
The HERO program offers eligible applicants interest free loans for up to $75,000. Payments for these "silent seconds" are deferred until the home is sold, refinanced, title transferred or no longer owner occupied. In other words, you don't have to pay back … (9 comments)
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hero program: USING MY BLOG TO ENHANCE RELATIONSHIPS WITH CLIENTS & PROSPECTS: Part 3 - 10/30/09 08:22 PM
As the last part of my series that started with Bob Stewart's challenge to "use our blogs to enhance our relationships to prospects and clients", I recently had the opportunity to use my blog to market to people that I don't typically consider prospects or clients.
For most of my mortgage career, I have focused on generating relationships with buyers, predominantly first time buyers and most of my marketing efforts are geared towards providing affordable home loan options to low-medium income buyers.
While I spent a brief period of time in the beginning of my mortgage career marketing to Realtors, I … (2 comments)
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hero program: FIRST TIME BUYER OPTIONS IN LOS ANGELES & VENTURA COUNTIES - PART 3: Down Payment Assistance Bridges the Gap to Homeownership - 08/17/09 02:48 PM
As the next part of my continuing series of affordable loan options for first time buyers here in the LA & Ventura counties, I want to now present the various down payment assistance (dpa) programs that are available to first time buyers here in LA & Ventura counties.
For many low-medium income first time buyers here in LA & Ventura counties, going with an FHA loan program is their only option. Partnering their FHA loan with a dpa program allows them to not only reduce their down payment requirement but it also allows them to keep their payments at … (6 comments)
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hero program: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: New HERO Program Offers up to $75,000 for First Time Buyers - 03/11/09 03:45 PM
The Los Angeles County Community Development Commission (LACDC) has developed a new program called the Housing Economic Recovery Ownership (HERO) that offers eligible applicants interest free loans for up to $75,000. Payments for these "silent seconds" are deferred until the home is sold, refinanced, title transferred or no longer owner occupied. In other words, you don't have to pay back the money until you sell, refinance, move out or die.
So how does one qualify for this assistance? Well, here are some of the basic eligibility requirements:
Borrower(s) must be first time buyer(s) - no previous homeownership in the last three … (20 comments)
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