RealEstateLatino.com's Blog

New Hispanic Demographics. We Must Re-Think Latino!!!

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Fri, 21 Aug 2009 07:51:29 -0500

This information is from the Wall Street Journal, I hope it help to better appreciate the Latino Market :

·Hispanics now account for more than 15% of the U.S. population

·Hispanics control more disposable income than any other minority group. The figure stands at $860 billion a year and is expected to hit $1.3 trillion by 2012.

·Between 2000 and 2007, 16 states -- among them West Virginia, Illinois and New Jersey -- saw their white population decline, according to the new Census data. Over the same period, whites accounted for a majority of population growth in only 11 states.

·According to the Pew Research Center, whites are projected to make up only 45% of the working-age population in 2050, down from 68% in 2005.

·The center projects that the share of Hispanics in the working-age population will double rising from 14% to 31%.

Read the WSJ article here

Is your Online Marketing giving you the results you wanted? Real Estate Latino Network can help you get the results you need at a price you can afford. Click Here To Learn More!

Guia De Credito Para Compradores Primerizo

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Tue, 18 Aug 2009 13:33:58 -0500

Guia De Credito Para Compradores Primerizos

View more documents from RealEstateLatino.com.

Bilingual Online Real Estate Marketing

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Tue, 04 Aug 2009 08:10:28 -0500

Bilingual Online Real Estate Marketing

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Dominate Your Local Online Real Estate Market

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Thu, 16 Jul 2009 08:46:45 -0500

RealEstateLatino.com offers real estate agencies and brokers the assistance needed to maximize their ROI by partnering with them on a customized online marketing strategy. For more information email us @ info@realestatelatino.com or call me at 888-934-9779.

REL Broker Presentation

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Use the First Time Home buyers Tax Credit of $8000 to inform and attract potential Latino buyers

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Tue, 07 Jul 2009 14:20:54 -0500

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.

Marketing the tax credit to the Latino community could be a great way to generate new leads. Here are some ideas of what you can do to attract potential homebuyers.

First: I would include a bilingual version of the tax credit program on my website homepage. As everything that has anything to do with government, this program is not exempt of red tape and confusion. So why not prepare a short tax credit fact sheet in English and Spanish for your visitors. DO NOT forget to make easy for them to ask you questions about the program, that why you will be able to generate and later convert leads into prospective.

Second: Create a bilingual flyer highlighting FAQ about the program and blast Wal-Marts, local business, homeownership fairs and apartment complexes. Make sure to refer readers to your website for more information and leave your cell number and email for easy contact.

Lastly: I will blast the information online at the local level. Create a bilingual Google pay-per-click campaign targeting first time homebuyers in your town. Use keyword like "tax credit program" "first time home buyer" "government assistance". Utilized the free services of Craiglist.org, post a new ad every couple days in the real estate and finance section of your home town, this will help you drive traffic to your website. Write a blog, if you have not done so; create a blog by using some free platform like Blogger.com and wordpress.com

Just keep in mind that if your strategy is educate and inform potential leads, they will appreciate and eventually would love the opportunity to work with you and find a home together.

Are SEOs Really Criminals? It Seams That Is The Case For Google!

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Wed, 10 Jun 2009 08:11:12 -0500

When I was reading this article I was stunt to even think about the possibility that Google can block my website if I use SEO services. Question for the pros, can this really happen? thank

Bill Arce

www.realestatelatino.com

6 Consejos Para Evitar La Ejecución Hipotecaria

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Fri, 05 Jun 2009 12:11:43 -0500

Por Bill Arce:

http://RealEstateLatino.com

Si tu eres dueño de casa y estas enfrentando problemas financieros o si tu tasa de interés es ajustable (ARM) y está al cambiar haciendo más difícil el que puedas realizar los pagos mensuales, tu pudieras estar en riesgo de enfrentar una ejecución hipotecaria y perder tu casa.

No estas solo, miles de dueños de casa están en la misma situación en la que tú te encuentras, afortunadamente *** ha te ofrece estos consejos para que te informes y puedas evitar la pesadilla financiera y emocional que representa perder la casa. No Ignores El Problema. El primer paso es reconocer que tienes un problema y que necesitas enfrentarlo lo antes posible, ya sea que anticipes la perdida de tu empleo, una disminución en tu horario de trabajo o que el plazo para que cambie la tasa de interés ajustable se aproxima y no podrás enfrentar el nuevo monto mensual.

Expertos sugieren que contactes a tu institución financiera tan pronto como sabes que estas en problemas. Mientras más te demores en contactarlos más difícil será para el banco encontrar una solución que te permita quedarte con la casa. Recuerda el banco no quiere tu casa, para ellos es mejor que tu continúes pagando, así hacen su dinero. Mantén las líneas de comunicación abiertas.

Una de las partes más importante de este proceso es la de abrir todas las cartas que te envía el banco y no amontonarlas en el cajón. Además de las cartas están las llamadas telefónicas que te hará el banco, llénate de valor y contéstalas podría ser la diferencia entre quedarte con tu casa y perderla. Ten presente que si llegaras a encontrarte en una situación legal no podrías probar que el banco no te advirtió de que empezaría la ejecución hipotecaria cuando estuviste ignorando todo tipo de comunicación.

Conoces tu Derechos. Una vez que te das cuentas que estas en problemas y has decidido comunicarte con tu banco, has hecho lo correcto -pero todavía hay más por hacer.

 Revisa tu contrato con el banco para que sepas que puede y no puede hacer legalmente el banco en caso de no recibir tus pagos.

 Averigua cuales son las estipulaciones estatales que gobiernan el proceso de ejecución hipotecaria en tu ciudad. Los procesos varían de estado a estado.

 La Agencia Federal de la Vivienda le ofrece más recursos para evitar la ejecución hipotecaria. Evite hacer tratos con compañías fraudulentas. Una vez que tu caso llega a los tribunales este se convierte en información pública y por ende muchas compañías que profesan poder ayudarte a evitar el foreclosure se enteran de tu situación y te contactan para solicitar tu negocio.

Debes tener mucho cuidado con estos tipos de compañía, asegúrate que las leyes estatales te protegen ya que al ser una nueva industria existe muy poco control sobre esta. La mejor forma de asegurarse de que haces negocios con una compañía honesta es verificando con la oficina de fianzas de tu estado alguna queja de maltrato. Busca ayuda en organizaciones locales sin fines de lucro.

Comunícate llamando gratis al teléfono 1-888-995-HOPE, esta es una línea de ayuda a nivel nacional encargada de asesorar a dueños de casa que están enfrentando una ejecución hipotecaria. También puedes visitar su website www.995Hope.org. Entre las diferentes opciones que puedes recibir al comunicarte con ellos están la de negociar con tu banco para darte la oportunidad de recuperarte financieramente. Además es bueno señalar que esta organización ha desarrollado vínculos de cooperación con la mayoría de los bancos principales lo cual hace más fácil la negociación a tu favor. Priorice sus gastos.

Ahora que sabes dónde te encuentras financieramente, es tiempo para que reajustes tu presupuestó familiar, en caso de no tener uno hecho sería buena idea crearlo inmediatamente. Prioriza la luz eléctrica, la comunidad y medicinas, también donde puedes ahorrar dinero, por ejemplo; eliminando servicios innecesarios.

Coordina con tu familia los viajes que tienen que hacer para así ahorrar en gasolina. Si necesitas ayuda para crear tú presupuesto consulta una organización financiara sin fines de lucro para que te ayude. Evita caer en manos de agencias privadas que todo lo que harían seria ponerte en una situación más delicada.

NEW REFERRAL PROGRAM FOR BILINGUAL REAL ESTATE AGENTS

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Wed, 03 Jun 2009 20:06:32 -0500

RealEstateLatino.com (REL) is currently expanding its online services in your area and would like you to join our fast growing nationwide network.

For a limited time only, if you sign up for our system you will receive your leads on a referral basis, which means that you will not pay per lead, rather a low referral fee when the lead buys or sells a home using your real estate services. Only two bilingual agents will have the opportunity to sign up for our exclusive referral network.

If you are interested in hearing more about our program please call us at 888-934-9779 or e-mail us at info@realestatelatino.com

Don't miss out on this great opportunity to expand your online network, once the first two agents sign up in your area, we will closed our network membership for that area, as they will be the exclusive agents in your territory.

We are looking for agents in the current Florida Markets:

Miami (1)

Orlando (0)

West Palm Beach (1)

Tampa (2)

Jacksonville (2)

We are looking for agents in the current California Markets:

Oakland (2)

Bakersfield (2)

San Diego (2)

Los Angeles (2)

Watsonville (1)

Concord (1)

The national Components of Inventory Change (CINCH) report for your review

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Sat, 09 May 2009 09:57:47 -0500

The national Components of Inventory Change (CINCH) report for

2005-2007 is now available on the HUD USER web site, http://www.huduser.org/datasets/cinch.html . The CINCH reports make use of the longitudinal features of the American Housing Survey (AHS) to trace what happens to housing units over time.

The report is organized around two sets of tables: forward- looking tables that trace what happened to units that were in the housing stock in 2005, and backward-looking tables that trace the source of the 2007 housing stock. The report is downloadable as a PDF file.

As in previous years, we will eventually be posting a corresponding Rental Dynamics report and a CINCH dataset. We will also post metropolitan CINCH and Rental Dynamics reports for the metropolitan areas that were in the 2007 AHS metropolitan surveys, along with a dataset. These are still in preparation.

This report was written by Frederick J. Eggers and Fouad Moumen of Econometrica, Inc., under contract with HUD.

San Antonio, Texas Housing Market Analysis

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Tue, 28 Apr 2009 06:31:04 -0500

HUD USER has posted a Comprehensive Housing Market
Analysis (CHMA) report for the San Antonio, Texas area.
This eight-county housing market area is located in south
central Texas and includes the city of San Antonio, which
attracts an average of 26 million tourists annually.

Compiled by field economists in HUD's Office of Policy
Development and Research, the report presents data that
are useful in foreseeing changes in the demand for new
housing. The analysis describes the economic,
demographic, and housing inventory characteristics of
the San Antonio housing market area from 1990 to 2000,
from 2000 through September 2008, and projects
anticipated market activity during the period of October
1, 2008 to October 1, 2011. This is valuable information
for builders, mortgage lenders, borrowers, local
planners, and others who need to keep up with area
housing conditions and trends.

Interested readers can access the San Antonio analysis,
along with previous CHMA reports examining housing market
areas across the nation
at www.huduser.org/publications/econdev/mkt_analysis.html.
All HUD USER CHMA reports are available as free downloads.

By: www.realestatelatino.com

As a buyer or seller, what is that the Realtor code of Ethics means for you?

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Tue, 21 Apr 2009 08:22:03 -0500

from: http://www.realtor.org/realtororg.nsf/pages/consumersplash

Buying or selling a home is never an easy process. All the different and confusing terms, the huge stacks of paperwork, all the forms that need to be filled out. Although it's an exciting experience, it can also be a very stressful one.

You need someone you can trust. Someone who can put your mind at ease because you know they're going to do the right thing and act in your best interest. Someone who will protect your rights.

When you enlist the services of a REALTOR®, you can be confident that you're being dealt with honestly. Every member of the National Association of REALTORS® makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public.

The Code of Ethics is a promise-as a customer of a REALTOR®, you can expect honest and ethical treatment in all transaction-related matters. It is mandatory for REALTORS® to take the Code of Ethics orientation and they are also required to complete a refresher course every four years.

The actual Code itself contains 17 Articles and is quite comprehensive. To help you better understand exactly what the Code of Ethics is and how it benefits you as a customer; here is a summary of the key principles, which is referred to as the
REALTORS®' Pledge of Performance and Service.

Learn about how the Code of Ethics affects you as a home buyer or seller

For more helpful resources from The National Association of REALTORS®,
please visit our Home Buyers & Sellers page.

Additional Assitance For Jacksonville, FL HomeBuyers

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Thu, 09 Apr 2009 10:03:54 -0500

Federal Home Loan Bank of Atlanta Funds have arrived...This year is the same as last year's issue; a 5/1 match as follows:

Borrower contribution of $500 = $2500 subsidy

Borrower contribution of $1,000 = $5,000 subsidy

Borrower contribution of $2,000 = $10,000 subsidy

These funds may be used in conjunction with the Head Start to Homeownership and SHIP programs (when it becomes available)

Call me anytime with any questions or concerns.

A new wave of foreclosures

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Wed, 01 Apr 2009 09:42:58 -0500

Sub-prime mortgages are no longer the only one thing responsible for foreclosures. Prime mortgage borrowers are being affected too.

Job losses are affecting homeowners, including those with low rate prime mortgages. Freddie Mac reported last year that 46% of foreclosures in June wee related to loss of income or unemployment.

Inman News reported a jump in prime-loan foreclosures from January to February.

HOPE NOW put the number of foreclosure starts on prime loans during February at 157,000, a 25 percent increase from the month before. Foreclosure starts on subprime loans fell by 5 percent, to 86,000.

The record 243,000 foreclosure starts recorded in February represented a 12 percent increase from the month before and a 36 percent increase from a year ago.

The good news is that NOT every home headed for foreclosure ends up loosing their homes. However, with more homeowners waiting for help assistance can get a little too late for those people who lost their income. It is imperative that lenders step up and negotiate a positive loan workout that would allow the homeowners to stay remain in home while they are actively looking for a job.

There is no dough that this homeownership nightmare in part started because of irresponsible lending, but that should not be a reason to punish responsible homeowners with fully documented prime mortgage who fall on victims of this national cause. Homeownership is the foundation of our society if we don't do something to preserve that foundation, future generations will be suffering for our mistakes.

Comments? - Thought? Bill.arce@realestatelatino.com

Take Action Now to Stop Raid on Housing Trust Funds

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Mon, 30 Mar 2009 13:49:41 -0500

If you care about Housing Trust Fund monies, now is the time

to call, email, or contact your legislators in every way possible-

the Florida HousingCoalition has delivered the latest

Housing News Journal, which has a half dozen articles

explaining the importance of funding affordable housing

for our economic recovery. If you want to have those talking

points click here: www.flhousing.org

-- otherwise, here's the strong and simple message:

Please Do Not Sweep Housing Trust Fund Monies!

Contact Senate President Jeff Atwater at atwater.jeff.web@flsenate.gov

For further contact information click here:

http://www.flsenate.gov/Legislators/index.cfm?Members=View+Page&District_Num_Link=025&Submenu=1&Tab=legislators&chamber=Senate&

House Speaker Larry Cretul contact information, click:

http://www.myfloridahouse.com/Sections/Representatives/emailrepresentative.aspx?MemberId=4264&SessionId=61

Click here to find your House members:

http://www.myfloridahouse.com/Sections/Representatives/representatives.aspx

Click here to find your Senators:

http://www.flsenate.gov/Legislators/index.cfm?Tab=legislators&CFID=21266569&CFTOKEN=95639942

The Florida Legislature Needs to Hear from You Now.

THANK YOU for doing your part to save the state and

local housing trust funds.

New Fiscal Year 2009 Income Limits

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Fri, 20 Mar 2009 10:23:22 -0500

From: HUD USER News

On March 19, HUD released the estimated median family
incomes (MFIs) and income limits for Fiscal Year (FY)
2009. MFIs are used as the basis for income limits in
several HUD programs (including the Public Housing,
Housing Choice Voucher, CDBG, and HOME programs), as well
as in programs run by the Department of Agriculture, the
Department of Treasury, the Federal Deposit Insurance
Corporation, the Federal Housing Finance Agency, and
Government Sponsored Enterprises.

The FY 2009 estimates are calculated for 532 metropolitan
and 2,043 nonmetropolitan areas in the U.S. and its
territories, using the Fair Market Rent area definitions
applied in the Section 8 Housing Choice Voucher program.
The FY 2009 MFIs are derived from 2000 Census data
updated with local and state American Community Survey
2005-2007 multiyear data.

The FY 2009 HUD income estimates and limits, a
documentation system that explains the derivation of each
area's limit and median income estimate, links to the
current Income Limits Area Definitions, and other useful
information are available as a free download from HUD
USER at www.huduser.org/datasets/il/il09/index.html.

In addition to the traditional Income Limits described
above, HUD has developed a new set of income limits
specifically for projects that rely upon Internal Revenue
Code Section 42 Low-Income Housing Tax Credits and
Section 142 projects financed with tax-exempt housing
bonds. Projects in these two categories are now referred
to by HUD as Multifamily Tax Subsidy Projects (MTSPs).
The FY 2009 HUD MTSP income limits, a documentation
system that explains the derivation of each area's MTSP
limit and median income estimate, and other useful
information are available as free downloads from HUD USER
at www.huduser.org/datasets/mtsp.html.

Just Released: U.S. Housing Market Conditions, Fourth Quarter 2008

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Tue, 17 Mar 2009 06:50:48 -0500

HUD's Office of Policy Development and Research has
released a new issue of U.S. Housing Market Conditions
for the fourth quarter of 2008. The report contains an
analysis of housing production, marketing, affordability
and interest rates, and the multifamily housing sector,
and provides comparisons to both the previous quarter
and the third quarter of 2008. This issue presents
updated national data, overviews of economic and housing
market trends within each HUD region, and historical
trends in national and regional housing markets. The
feature article explores the history and status of HUD's
local housing market analyses.

In-depth housing market profiles are also drawn for the
following areas: Beaumont-Port Arthur, Texas; Houston-
Sugar Land-Baytown, Texas; Jackson, Mississippi;
Lafayette, Louisiana; Madison, Wisconsin; Oklahoma City,
Oklahoma; Omaha-Council Bluffs, Nebraska-Iowa; Richmond,
Virginia; San Francisco, California; Seattle,
Washington; Springfield, Missouri; and Tucson, Arizona.

This and previous U.S. Housing Market Conditions reports
are now available online and can be downloaded for free
at www.huduser.org/periodicals/ushmc.html. Printed
copies can be ordered at no cost from the HUD USER
Clearinghouse by calling 800-245-2691, option 1.

TIME CHANGE - SPRING FORWARD

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Fri, 06 Mar 2009 09:11:18 -0600

THIS IS JUST AN FYI.

As you may be aware, time will be moving forward this weekend. Therefore, please set your times accordingly. On this note, the spring-forward time is scheduled 3 weeks earlier than normal and there may be some glitch issues with the calendars. Make a special attempt to review your calendars for at least the next month just in case there are some glitches in youy system. I am personally already experiencing some issues with my Outlook.

The Future of Latino Homeownership

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Fri, 06 Mar 2009 07:07:38 -0600

By Bill Arce

RealEstateLatino.com

Alejandra Medina, a CHCI's HOGAR fellow class of 2007-2009 just published a paper on the institute website named "The Future of Latino Homeownership." The paper makes reference how Latinos are facing the current economy and how the housing crisis had become another challenging barrier to Latino homeownership.

Miss. Medina also proposed in her paper a response to the crisis including not just real estate professionals. The fellow goes further and recommends Latinos leaders in the housing community to facilitate communication between their organizations and the real estate industry to discuss how counseling can help future homebuyers can help obtain and long maintain their homes, among other recommendations.

The HOGAR fellow, who will graduate from the institute this year, also reports on the necessity to prevent the crisis, so it won't happen again. She highlights, that now more than ever the Latino consumers must have access to a better-trained and trusted real estate advisor. This recommendation comes along with NAHREP code of Honor "En Confianza" that calls to reinstate the trust lost after the real estate debacle. In general the report is very easy to read and offer a god inside of what is happening in our community today, I encourage you to read it.

If you would like to read a copy of this report, please visit www.chci.org.

First-Time Homebuyer Tax Credit, Get Your BUyer Ready.

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Fri, 27 Feb 2009 12:14:06 -0600

Here are some details on the new $8,000 tax credit for first time homebuyers that can be used on the purchase of your new home. Feel free to re-blog this article as long as you co-brand it with RealEstateLatino.com

Tax credit equals lesser of 10% of the property's value or $8,000
Effective for properties bought between January 1, 2009 and December 1, 2009
The property purchased must be single-family (condominiums & townhouses included) and used as a principal residence for three years.
There is an income limit of $75,000 per individual (adjusted gross income) or $150,000 if filing a joint return. Individuals above these salaries may still receive a portion of the tax credit. IRS Form 5405 will help to determine this.
Only first-time homebuyers are eligible or the purchaser (and purchaser's spouse) must not have owned a principal residence in the last three years
This tax credit does not have to be repaid if the property is purchased between 1/1/09-12/1/09

My recommendation to you is to consult a tax professional for more specific information that may pertain to your individual case, keep in mind that several states also have local policies.

Consumer Information: Visit www.RealEstateLatino.com

Home prices and interest rate are down, time to let your client know.

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Thu, 26 Feb 2009 13:48:23 -0600

According to new statistics, the number of homes sold in Florida and the Jacksonville metro area went up last month even though it dropped nationally. The good news is that between median sales prices that continue to fall across the nation and lower interest rate are giving buyers enough incentive to continue house hunting.

The Florida Association of Realtors announced that home sales statewide rose 24 percent, from 6,810 in January 2008 to 8,450 last month.

In the other hand, median sales prices dropped by 33 percent, from $206,900 in January 2008 to $139,500 in February.

In the Jacksonville market, sales edged up 2 percent, from 571 sales in January 2008 to 580 last month. Median sales values also dropped locally, from $179,100 in January 2008 to $146,400 last month.

Mortgage lenders are offering interest rate as low as 5.375% on FHA or conventional programs.

If your client is looking for a home now and needs down payment assistance, you should recommend the H2H down payment assistance program from the City of Jacksonville. Easy to apply and to close it. For more information go to www.coj.et.

www.realestatelatino.com

FHFA Director Lockhart to Address GSE Plans at the AREAA/NAHREP Real Estate and Policy Conference

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Thu, 26 Feb 2009 12:04:22 -0600

Government action addressing homeownership preservation and affordability issues will shape the future of housing in America for generations to come. Much of the responsibility to reestablish the American Dream of homeownership rests on the shoulders of the Federal Housing Finance Agency and its Director, James Lockhart.

Don't miss your opportunity to hear from the FHFA director, who stands to make arguably the most influential housing-related decisions in American history. Director Lockhart will be discussing the future of the GSEs and plans to curb foreclosure at the AREAA/NAHREP Real Estate and Policy Conference on the afternoon of Friday, March 13th prior to a town hall discussion on loss mitigation.
James B. Lockhart III, is the Director (CEO) and Chairman of the Oversight Board of the Federal Housing Finance Agency, regulator of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. He assumed that position with the signing of the Housing and Economic Recovery Act on July 30, 2008. He was the Director of OFHEO, which is now part of FHFA.
He was nominated by President Bush to that position and confirmed by the Senate in June 2006.From 2002 to 2006, Mr. Lockhart served as Deputy Commissioner and Chief Operating Officer of the Social Security Administration and as Secretary to the Social Security Board of Trustees. He was a member of President Bush's Management Council and its Executive Committee. Lockhart served in the previous Bush Administration as Executive Director (CEO) of the Pension Benefit Guaranty Corporation (PBGC) from 1989 until 1993.
To read more, visit fhfa.gov To Register For the Conference go http://www.areaa.org/convention/

Guide to Avoid Foreclosure in Jacksonville, FL

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Wed, 25 Feb 2009 12:05:34 -0600

If you are behind on your mortgage, the following agencies may be able to help if you live in or around Jacksonville, FL. Most experts advised that it's better to call the lender first and then seek help as soon as you are behind on payments or know you will soon be behind.

JACKSONVILLE AREA LEGAL AID
Visit www.jaxlegalaid.org or call (904) 356-8371. Walk-in application hours at the main office at 126 W. Adams St. on Mondays and Thursdays are from 8:30 to 11 a.m. Only the first 55 applicants are seen. Legal Aid has a new foreclosure-oriented office at 3701 Winton Drive in the Ribault Family Resource Center. This center focuses on ZIP codes hardest hit by foreclosures in 2007: 32209, 32208, 32206 and 32218 on the Northside and 32244 on the Westside. Clients are seen by appointment only, except in the case of an emergency. Call (904) 390-4019 for an appointment.

THE FLORIDA BAR
Pre-foreclosure help may be available by calling (866) 607-2187 or visit www.floridabar.org for an online form. To find a private attorney, call the Jacksonville Bar Association for a referral at (904) 399-5780 or visit www.jaxbar.org.

JACKSONVILLE www.coj.net
Call (904) 630-2489 (630-CITY) and ask for the housing program. The city may be able to help with one-time cash assistance and financial counseling.

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Call (800) 569-4287 or visit www.hud.gov/foreclosure to find resources and a list of certified housing counselors. Contact the federal government's foreclosure hot line at (888) 995-4673 (995-HOPE) or www.995hope.org.

FLORIDA DEPARTMENT OF FINANCIAL SERVICES
The DFS asks that you call the Consumer Helpline at (800) 342-2762 before you pay anyone who offers to help you get out of foreclosure.

More resources in www.realestatelatino.com

Some Points on the Goverment Foreclosure Rescue Plan

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Wed, 25 Feb 2009 11:18:02 -0600

Who will receive help?
Those who may be at risk of foreclosure as well as some homeowners who are "underwater" on their loans.

What are the outlines of the plan?
A refinancing option for those who are making payments but are paying high interest rates and would otherwise not be able to refinance, either because they do not have enough equity or because their houses are worth less than they borrowed.

$75 billion in assistance for people at risk of foreclosure through incentives to lenders to alter the terms of loans.

Assurance that there is credit available for mortgages through $200 billion in backing to mortgage finance companies Fannie Mae and Freddie Mac.

How much will this cost to the American taxpayers?
A total of $275 billion.

How many homeowners will be assisted?
The government estimates between 7 million to 9 million homeowners.

Is congressional approval a must?
Some parts, including a provision to allow changes to mortgages through bankruptcy proceedings, will require legislation.

When is the starting day?
March 4.

If I need help, what should I do?
Collect all necessary documents such as pay stubs, tax returns and loan and credit card statements to call your lender first. After calling your lender, research for any local assistance offered by non-profits or local government.

Remember doing nothing is not an option. Visit www.realestatelatino.comfor more info. Check English Language.

Q&A about Government plan to avert foreclosures

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Mon, 23 Feb 2009 11:50:10 -0600

Who will receive help?
Those who may be at risk of foreclosure as well as some homeowners who are "underwater" on their loans.

$75 billion in assistance for people at risk of foreclosure through incentives to lenders to alter the terms of loans.

Assurance that there is credit available for mortgages through $200 billion in backing to mortgage finance companies Fannie Mae and Freddie Mac.

How much will this cost to the American taxpayers?
A total of $275 billion.

How many homeowners will be assisted?
The government estimates between 7 million to 9 million homeowners.

Is congressional approval a must?
Some parts, including a provision to allow changes to mortgages through bankruptcy proceedings, will require legislation.

When is the starting day?
March 4.

Remember doing nothing is not an option. Visit www.realestatelatino.comfor more info. Check English Language.

FHA New Minimum Credit Score? It is True?

Real Estate Latino (Bill Arce) (RealEstateLatino.com) — Wed, 18 Feb 2009 13:59:07 -0600

I heard from a lender today that FHA come down with a new rule saying that from now on borrowers must have minimum credit score of 620., is this true? Please advise.

This will devastatea lot of first time home buyer with not so good passed credit history, not to count that will make FHA less competitive.

Bill Arce