Thursday, May 28, 2009

I have been setting here making appointments to show a buyer of mine 9 homes. All of these homes are located in the Smyrna-Marietta, GA area and five of those homes are "Under Contract" and have just gone under contract.

For a year now I have been working with an 80+
year old couple who are moving here to be close to their family. There is a house that they really like but have not made an offer because they are not sure when they will move. Guess what, the
house is "under Contract. (This house was on the market since last August).

#First Time Buyers, you need to get in on the action. The great deals will not be there forever.

#$14,000 is available for a Down Payment if you buy a foreclosed house.

Tuesday, May 26, 2009

$14,000 Down Payment Assistance Program "For all Home Buyers"
The Program was created to encourage the purchase of foreclosed properties. Funds utilized are an allocation of federal dollars received from the Housing and Economic Recovery Act of 2008.
The program provides $14,000 to eligible borrowers purchasing foreclosed properties in Georgia in eligible areas. The funds may be used for required repairs and/or down payment assistance. This program begins April 1, 2009 and all funds must be disbursed by June 30, 2010.

How do you apply?
• All buyers must receive eight hours of in-person home buyer education/counseling provided by an approved housing counseling agency.
• Contact us at 770-410-4950 ext 324 or 770-355-0130 for pre-qualification and to begin the mortgage loan process. We will evaluate your credit worthiness based on FHA or VA guidelines and your qualifications for the program will be based on the Down Payment Program guidelines

Frequently Asked Questions:

1. Are only first time home buyers eligible for the down payment assistance program?
Applicants do not have to be first-time home buyers and they are not prohibited from owning other residential real estate. This home must be your Primary Home.
2. If I am a first time home buyer and I use the Georgia Dream NSP program do I still qualify for the federal first time home buyer $8000 tax credit?
Yes. If you purchase a home prior to December 1, 2009.
3. Are there income limits?
Yes. Eligible borrowers must have a total household income less than 120% of the area median income (we can tell you what that is at application as it is based on county and family size)
4. Can I buy a home anywhere in Georgia?
No. You must purchase a foreclosed property in an area of greatest need. Need was determined by the volume of foreclosed properties in a county, though most of Greater Atlanta is covered.
5. What interest rate will I pay on my first mortgage loan?
The mortgage loan will be a 30 year fixed rate FHA or VA loan originated by the lender within the program guidelines. The rate will be determined by current market rates and the lenders choice of investor.
6. Can I use the down payment assistance program to purchase a short-sale or a home that is pending foreclosure?
No. the property must have been foreclosed and the title transferred to the mortgage lien holder or an eligible agency. Eligible properties must be owned by Bank, Government Entity or an eligible Non-profit.

CALL NOW TO GET QUALIFIED:

Travis Newberry – Community Mortgage Services
Sr. Loan Officer
USMC Ret
770-410-4950 ext 324
770-355-0130 Cell
770-410-4961 Fax
www.travisloans.net

Friday, May 22, 2009

$14,000 Down Payment Assistance Program for all Home Buyers
The Program was created to encourage the purchase of foreclosed properties. Funds utilized are an allocation of federal dollars received from the Housing and Economic Recovery Act of 2008.
The program provides $14,000 to eligible borrowers purchasing foreclosed properties in Georgia in eligible areas. The funds may be used for required repairs and/or down payment assistance. This program begins April 1, 2009 and all funds must be disbursed by June 30, 2010.

How do you apply?
• All buyers must receive eight hours of in-person home buyer education/counseling provided by an approved housing counseling agency.
• Contact us at 770-410-4950 ext 324 or 770-355-0130 for pre-qualification and to begin the mortgage loan process. We will evaluate your credit worthiness based on FHA or VA guidelines and your qualifications for the program will be based on the Down Payment Program guidelines

Frequently Asked Questions:

1. Are only first time home buyers eligible for the down payment assistance program?
Applicants do not have to be first-time home buyers and they are not prohibited from owning other residential real estate. This home must be your Primary Home.
2. If I am a first time home buyer and I use the Georgia Dream NSP program do I still qualify for the federal first time home buyer $8000 tax credit?
Yes. If you purchase a home prior to December 1, 2009.
3. Are there income limits?
Yes. Eligible borrowers must have a total household income less than 120% of the area median income (we can tell you what that is at application as it is based on county and family size)
4. Can I buy a home anywhere in Georgia?
No. You must purchase a foreclosed property in an area of greatest need. Need was determined by the volume of foreclosed properties in a county, though most of Greater Atlanta is covered.
5. What interest rate will I pay on my first mortgage loan?
The mortgage loan will be a 30 year fixed rate FHA or VA loan originated by the lender within the program guidelines. The rate will be determined by current market rates and the lenders choice of investor.

CALL NOW TO GET QUALIFIED:
Sharon Evans RE/MAX 404-663-1669 &
Travis Newberry – Community Mortgage Services
Sr. Loan Officer, USMC Ret
770-410-4950 ext 324
770-355-0130 Cell
770-410-4961 Fax
www.travisloans.net

Thursday, May 21, 2009

A Realty Trac survey results revealed that first-time homebuyers represent the group most interested in purchasing foreclosure property. Two-thirds of U.S. adults between the ages 18-44 (66%) comprised largely of first-time homebuyers would consider purchasing a foreclosed home, compared to a little more than one third of those ages 55 and older (38%). Respondents aged 45-54 fell in between, with 53% indicating that they would be at least somewhat likely to consider a foreclosed property.

First-time homebuyers are a big part of the foreclosure market. The local Atlanta Multiple Listing Service reports that in recent closings around 50% are foreclosures . Most of the financing for a foreclosure is cash from investors and FHA loans for first-time homebuyers.

Don't forget about the $8000 tax credit a first time buyer can get if they buy a home this year.
www.sharondevans.com

Wednesday, May 20, 2009

To capture new interest in home sales thanks to lower interest rates and a first-time-buyer tax credit, a growing number of lenders and asset management companies that own foreclosed homes now appear more willing to drop prices. Banks used to hold fast on pricing, banks now are reducing prices and taking lower offers.

It is time to "Buy"

Wednesday, May 13, 2009

SOMETHING NEW IS COMING!
THE $8000 Tax Credit Can Be Used for Down Payment.

This was just announced today so the logistics are not in place yet but I will give you more info as I know more. The Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, says. He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table. For more info visit http://ping.fm/QBhDh

Sunday, May 10, 2009

HAPPY MOTHER'S DAY TO ALL