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Congress trying to do away with Down Payment Assistance
Why? because it is part of our right as Americans. Sorry but you don't get to decide what is best for others.
Congress trying to do away with Down Payment Assistance
Wow... over 94% of these loans are up to date. Right about the same foreclosure rate as conventional loans. Not everybody has 20% or a rich mommy & daddy to give it to them. Good people with good jobs should be able to buy homes. If everyone needed 20% to buy a home there would be a lot of young couple living in their parents basement.
Congress trying to do away with Down Payment Assistance
The house passed a bill today bailing out Fannie Mae & Freddie Mac but what wasn't highly publisized is that they are ending the use of Down Payment Assistance for FHA mortgages. I am sure that there are many of you who have used one of these programs to purchase your home. They go by names like Nehemia, NeighborHood Gold & Ameridream. This is the last way to purchase a home with no money down. If you are a buyer looking for a home and were directed to one of these programs you may lose your opportunity to purchase a home. Don't take this lying down. Go to this site and sign the petition to make sure your senators & Congressman/woman know where you stand.
http://rallyforhomeownership.com/
stay away from third party lead generation like House Values or Just Listed. They are stealing leads you can get on your own. Google PPC works well but you need to have your website set up properly to capture the lead and you need a good follow up system once you get it.
because it works. We promise to our sellers to provide their home with every available avenue to sell their home.
once the sale is complete your second will become an unsecured loan. At that point you could stop paying. The lender will then try to collect the debt and will probably turn it over to a collection agency. At some point they will probably write off the debt called a charge off. This will hurt you credit but not as badly as a foreclosure would
Realtor wants me to drop price
Objections are opportunities. Your agent should be providing you with feedback from showings. I always look for ways to overcome the buyer's objections before asking for a price reduction. So many time though the seller would rather reduce 10k than replace 4k worth of worn out carpet or remove wallpaper & repaint. remember that no detail it too small. I walk the house with a roll of blue masking tape and look for evry detail from dirty window sill, skuffed walls etc... You home really needs to be sharp, I know it is a pain but it will pay.
Ask your realtor to take you on a tour of your competition. Be objective and honestly ask yourself how your house compares to those homes. Sold comps are great but those homes are no longer for sale. If your house is not in the top 3 at your price range consider making the adjustment sooner not later. The longer you keep your home overpriced the larger your price deduction will need to be
Anybody else catch 60 minutes "House of cards" tonight?
The hard part about that report is that no matter how true the report is, you cannot paint the whole country with the same brush. California, Nevada, Michigan, Florida are in really bad shape but Portland, Santa FE, and many other cities are doing really well.
I agree that the CEO's & Hedge fund MGR's should have to pay back all of those bonuses. Ah the beauty of a golden parachute.
Congress trying to do away with Down Payment Assistance
The constitution. You remember that old document behind the glass case in Washington. I think it is part of the pursuit happiness crap they scribbled down
July 23
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