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Verizon just activated 4G wireless to the following areas.
- Chewelah, WA
- Coeur d’Alene, ID
- Colville, WA
- Deer Lake, WA
- Fairchild AFB, WA
- Harrison, ID
- Hayden, ID
- Kellogg, ID
- Kettle Falls, WA
- Medical Lake, WA
- Newport, WA
- Plummer, ID
- Ponderay, ID
- Post Falls, ID
- Priest Lake, ID
- Priest River, ID
- Sandpoint, ID
- Schweitzer Mountain, ID
- Silver Mountain, ID
- Spirit Lake, ID
- St Maries, ID
- Washington State University Campus
Residents in more than 20 Eastern Washington and North Idaho communities with 4G LTE smartphones, laptop modems and hotspots can now join residents in Spokane County to take advantage of speeds up to 10 times faster than the company’s 3G network. The expansion also delivers blazing fast 4G LTE to the Schweitzer Mountain and Silver Mountain ski resorts near Sandpoint and Kellogg, Idaho.
Bright and roomy 3 bed 1.75 bath on .46 acre, magnificent hardwood floors, updated kitchen and baths. Unfinished daylight basement and shop, deck off master suite with mt views. Lot is large enough to split. Circular drive, Nice big yard, apple trees. Quiet street on edge of town with city winter snow maintenance.
Only $150,000
One of the best deals on the market!
3 bedroom 1 bath single story home with bright open floor plan. Tiled floors, custom kitchen and large office, plus an older mobile with snow room and deck for guests. Monitor barn sheds and green houses. Artesian well with 1500 gallon holding tank, 2 septics, county road, all on 10 private acres full of hiking trails, trees wildlife and views. Electric and phone are on the property, but with the artesian well you can have water when the power is off. I could also see someone putting in a solar array and backup generator to be fully self sufficient. Easy access yet you will have tons of privacy and feel like you are the only one in the woods. Priced way below assessment for a quick sale at $155,000
297 Carr Creek Sandpoint Idaho 4 bed, barn, creek
The tenants are out and the owner wants to rent it. Will consider lease option. THIS IS A FANTASTIC BUY.
WOW! Pond and 300 ft of year round Carr Creek running through property! This 3048 sq ft, 4 bedrooms 3 bath with walk out basement and 2 car garage sits on 5.01 gorgeous acres. Bring the horses, There is a 3 bay tractor shed, and barn equipped with water and power. Great kitchen with hickory cabinets, bamboo floors, spacious master bedroom, 6 balconies, fruit trees and views This is a fantastic deal at $218,900
Federal Housing Finance Agency announced that they were revising the Homeowners Affordable Refinance Program (HARP).
HARP was created in 2009 to help borrowers whose loans were backed by Fannie Mae, Freddie Mac, but did not have enough equity to
refinance. The original HARP fell short of expectations, The vast majority of homeowners that applied did not meet the requirements of the program. Over the past two and a half years, only 838,000 homeowners have benefited from the program. The changes announced Monday by the Federal Housing Finance Agency, which regulates Fannie and Freddie, lift a cap that had limited the HARP program to borrowers whose homes had lost no more than 25 percent of their value relative to their outstanding mortgage. That limit is now removed. The new HARP 2.0 provides looser eligibility requirements, but is still only expected to help 10% of the home owners needing relief.
Borrowers with Fannie Mae or Freddie Mac mortgages before May 31, 2009, will be
able to refinance, no matter how far underwater they are. Banks will only have to verify
that borrowers have made their last six payments, that they’ve haven’t missed more than
one payment over the past year, and that they have a job or another source of regular
income.
What other key changes are there to HARP 2.0
Risk-based fees have been eliminated for borrowers who refinance to 15-year mortgages.
Existing mortgage insurance coverage can be transferred much easier.
Appraisals are no longer required.
Extending the end date for HARP until Dec. 31, 2013 for loans originally sold to the
Enterprises on or before May 31, 2009.
Who is eligible
Your existing home loan must be guaranteed by Fannie Mae or Freddie Mac
Your home must be a 1- to 4-unit property
You must have a perfect mortgage payment history going back 6 months
You may not have had more than one 30-day late payment on your mortgage going back 12 months
Most notable about the new HARP refinance program, though, is that the government is waiving loan-to-value requirements on a HARP loans. Homeowners’ participation in the program are no longer restricted by their home’s appraised value. In fact, the new HARP doesn’t even require an appraisal, in most instances.
Am I eligible for the Home Affordable Refinance Program if I'm behind on my mortgage?
No. You must be current on your mortgage to refinance through this program.
I lost my job, am I eligible?
No. Income verification is required for the HARP 2.0 program.
Will the Home Affordable Refinance Program help me avoid foreclosure?
No. It's meant to give homeowners who are current on their mortgages, a chance to refinance at today's low
mortgage rates. It is not meant to help people facing a foreclosure.
Is my loan eligible for HARP 2.0
Your mortgage must be guaranteed by Fannie Mae or Freddie Mac.
You can look up your loan at:
http:loanlookup.fanniemae.com/loanlookup/ calling 800-7FANNIE (8 am to 8 pm ET)
https:ww3.freddiemac.com/corporate 800-FREDDIE (8 am to 8 pm ET)
What if my loan does not appear on these 2 websites.
Then you are not eligble. This program is only available to FannieMae and Freddie Mac loans. FHA and USDA loans do not qualify
Hi
I work short sales all the time and I usually encourage my clients to keep up with the payments the best that they can. Even if that means making partial payments. About half of my short sales are negotiated with the clients current on their loan. They take alot less of a hit on their credit. I have only had the bank ask for a seller contribution one time on a client that was current on their loan and I got them to back down because my client was current. I have had the bank ask for seller contributions on loans that were delinquent and they used the excuse that the owner was 1 year delinguent and shouldnt be able to just walk away.
I have seen people get very hurt by getting bad advise from an agent to not pay their mortgage. Usually when someone gets to the point they are considering a short sale, they have a definate verifiable hardship. I believe this hardship is more of the deciding factor.
Short sale negotiations are unpredictable. They are like snow flakes and no two are alike. The best thing to do is prepare your seller that the bank may ask for a contribution, then fight them tooth and nail if they ask and it is just not something your seller can do. Via Mark Geis (Coldwell Banker, Mulleady, Inc. Realtors):
I'm often asked by sellers the same question time and time again:
"Don't I have to be late on payments before I can qualify for a short-sale"?
The answer, in a nutshell, is NO. Banks will negotiate a short-sale if there is a great risk of "Imminent Default."
HUD defines "Imminent Default" as:
1. Is current or less than 30 days delinquent on their loan.
2. Has a documentable hardship, which can include a reduction in income or a loss of employment OR a change in household situation, such as death in the family, divorce, serious illness or other issues.
Obviously, the greatest benefit to not missing any mortgage payments and proceeding with a Short Sale is that it can reduce the amount of time for anyone to buy another home with a mortgage in the future. Unfortunately, in this marketplace, it's not always possible.
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Short Sale Agent Update:
Changes to HAFA Program*
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On Aug. 9, the U.S. Department of the Treasury released Supplemental Directive 11-08: Home Affordable Foreclosure Alternatives Program (HAFA) - Policy Update containing updates to the program. Bank of America fully implemented these changes effective Oct. 15.
Policy enhancements impact agents and borrowers:
- An FAQ clearly defines program criteria and rules. Borrowers can access the information from the Home Loan Assistance website at bankofamerica.com/homeloanhelp by:
- Navigating to the Next Steps section or selecting Frequently Asked Questions from the Additional Support area.
- Look for the "If my mortgage is not owned by Fannie Mae or Freddie Mac..." question and select Home Affordable Foreclosure Alternatives Policies.
- Subordinate lien cap of $6,000 does not apply to non-mortgage subordinate liens; however, a portion of the gross proceeds may be negotiated toward payment of the non-mortgage subordinate liens.
- Defined process for property re-evaluation and for requesting value reconsiderations.
- Borrower relocation incentive may be used to pay transaction costs.
Action requested: View the HAFA 11-08 Enhancements and FAQ.
*Please Note: This guidance does not apply to mortgage loans that are owned or guaranteed by Fannie Mae or Freddie Mac, insured or guaranteed by the Veterans Administration, the Department of Agriculture's Rural Housing Service or insured by the Federal Housing Administration.
Visit the Agent Resource Center at bankofamerica.com/realestateagent for educational guides, news and resources to help agents complete a short sale at Bank of America.
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The answer is no, PLEASE DON'T! Interview a few agents and then when you find an agent you feel comfortable and you feel will work hard for you then stick with them. Did you know that any agent in the mls, in the area that you are looking in can show you a house. They will all have access to the same information and can find out anything you need to know about a potential house or land. I have been a buyer and I know how it is. You want to look through every possible listing and leave no stone unturned. Believe me your agent wants you to find that house almost as much as you do.
When you buy a property you aren't expected to know how the world of real estate works. You scour the internet and the real estate magazines. You may call on an ad for a house here, and then call on the next one 5 minutes later. There is nothing wrong with this, but when you feel you are ready to seriously look at homes that is when you will want to pick one agent to work for you. By the same token, agents don't just assume that a buyer understands anything about what your job entails or how you earn a living. WHY should they?
There was a situation last week with one of my collegues. She spent 4 days showing a couple homes, and made a few personal sacrifices so that she would be available for them. On the 5th day the agent was on the phone when he clients called. She called them back about 5 minutes later but only got the answering machine. She later found out, The couple had gone into another office and had an agent show them a house a second time. The next day they stopped in at yet another office and asked an agent to write up an offer on the house that the other 2 agents showed them. The couple had signed agency agreements with all three. Now technically this would mean that 3 different offices were entitled to a commission. On a personal level, Buyers put yourself in the agents shoes, how would you feel if this happened to you?
I have the most wonderful loyal buyers in the world. I think the main reason is that when I first meet a potential buyer I explain to them that if they choose me to represent them, I am willing to move heaven and earth for them, I expect to answer a zillion questions, hold their hand through the entire process. In exchange for this I do expect that if they make and offer they use me and not some other agent, because that is how I will eventually be paid for all my hard work.
I ran across a group here on activerain entitled Never answer the same question twice. The idea behind the group is to post common questions and answer them where anyone can come by and get the answer.
What a great idea, I answer the same questions over and over again constantly. So in my blog I will cover some of these questions, post them in the group and put them in my real estate FAQ.
One of the first things that I tell my clients when they are looking at real estate is DONT buy a new car, boat, furniture etc. It is heartbreaking and expensive to go all the way through an escrow only to be denied because you have incurred too much debt or do not have enough savings. Via Eleanor Thorne 919-649-5057 Cary Mortgage Loans NMLS #67179 (River Community Bank):
Many new homebuyers make the mistake of rushing out to buy things to  fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Don't Shoot Yourself in the Foot!
Here are some things to avoid during the home buying process to assure your transaction goes as smoothly as possible:
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Don't make an expensive purchase. It may be tempting to order that new sofa for your soon-to-be living room, but its best to avoid making major purchases like furniture, cars, appliances, electronic equipment, jewelry, or vacations until after the closing. Financing that furniture with a store credit card or even one of your own credit cards could jeopardize your credit worthiness during the time it means the most. Your credit WILL be pulled AGAIN approximately 72 hours prior to closing - so the Underwriter is going to know if you do this! Using cash to purchase big items can also create a problem because many banks take into consideration your cash reserve when approving your mortgage.
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Don't get a new job. Banks like to see a consistent job history. Generally, changing jobs will not affect your ability to qualify for a mortgage loan - especially if you are going to be making more money. But for some people, getting a new job during the loan approval process could raise some concern and affect your application... in addition, some banks require that you receive your first paycheck from your new employer before you can close! If you are applying for a USDA Home Loan, or a NC Housing loan (that has an income limit requirement) PLEASE PLEASE PLEASE let us know if you are making a ton of additonal overtime! We've seen people declined because they took on TOO MUCH overtime - trying to save up additional money for the home... the overtime counted when the underwriter was
 trying to determine if the client met the ceiling requirements!
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Don't switch banks or move money around. As your lender reviews your loan package, you will likely be asked to provide bank statements for the last two or three months on your checking accounts, savings accounts, money market funds and other liquid assets. To eliminate potential fraud, most loans require a thorough paper trail to document the source of all funds. Changing banks or transferring money to another account - even if its just to consolidate funds - could make it difficult for us to document your funds... which will cause a delay. If you get a gift from someone - let us know. If you sell an asset (we've had customers sell bass boats, extra refridgerators, their grandmother's silver) to raise money to buy the house... TELL THE LOAN OFFICER BEFORE YOU DO IT! There are paper trails that we MUST verify! Trying to do something GOOD (like raising money from a sale) could end up HURTING you, if you don't document it properly!
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Don't give a good faith deposit directly to the seller in a FSBO purchase. As a rule, your good faith deposit (Earnest Money Check) belongs to you, not to the seller, until the deal closes. Your FSBO seller may not know that your good faith funds should be applied to your expenses at closing. Get an attorney or other neutral party who can hold the deposit or put it in a trust account until you close on the home. Your purchase contract should dictate to whom the funds go should the transaction fall through. It really is best to use a Realtor!
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Don't disregard your lenders requirements. You may have been pre-approved for the loan but your work with the lender is far from over. In order to process your loan, you need to meet certain requirements. Your lender will need copies of your bank statements, W2s and other paperwork. It is up to you to get these to us as soon as possible. We have Banks that we do mortgages with that will not allow us to lock the rate in until we have all of these documents (especially on Jumbo Loans). Again, if you are applying for a mortgage loan that has an Income Ceiling Requirement like USDA Home Loans in NC and NC Housing Mortgage Loans, MCC and DAPs it is CRITICAL to let us know if your income changes! We work with a ton of folks who initially come to us qualifying for a program - but they need some help with their credit... we work 3 to 4 months and get their scores up... and DURING that time - they take on extra overtime, or they get a raise, or a huge commission check - and suddenly they no longer qualify for the program!
If you want to purchase a home in Raleigh, or get a mortgage loan in Cary call Steve Thorne 919-649-5058 NC Mortgage Expert. We have the Bank Programs you need and the lowest mortgage interest rates available!
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Rain Silverhawk Realtor® Sandpoint Idaho
Sandpoint,
ID
More about me…
Sandpoint Realty
Address: 223 North First Ave, Sandpoint, ID, 83864
Office Phone: (208) 263-2135
Cell Phone: (208) 610-0011
Email Me
North Idaho Realtor serving Sandpoint, Clark Fork, Hope, Naples, Bonners Ferry, Sagle, Cocolalla, Priest River, Laclede, Spirit Lake and more. Web design, SEO, computer graphics, photography, fine art prints, gemstones and lapidary
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