RealEstate-HousingAssist

What Types of Home Inspections Can a Buyer Do?

demetriushousing — Wed, 16 Dec 2009 05:13:42 +0000

Buying a home is very important. When you go look at the prospective home, you should take a home inspection checklist so you remember important things to check out. Your real estate agent should be able to give you a list of the types of home inspections that are generally conducted in your area. This article will give you a few items that should be on your home inspection checklist.

The best tip Housing Assist of America can give you: Don’t Do This Alone

demetriushousing — Thu, 26 Nov 2009 05:43:11 +0000

We have helped thousands of homeowners in the process of a short sale. It is important that you have a trained team of experts working for you. One needs to know the ins and outs of the business to understand what goes into a short sale. Having someone who knows what they’re doing work on your behalf, will make this possible. We know what you are facing and how you feel.

2 Seperate Tax Credits For California Buyers

demetriushousing — Tue, 17 Nov 2009 06:46:21 +0000

The federal first time home buyer (FTHB) tax credit is for $8,000. Here are the details revised 2009 version:

Raised from $7,500 to $8,000
Non-repayable
First time, occupying home buyers only (technically meaning you haven’t had a home for the immediate 3 years prior to this purchase)
Currently for closed transactions from Jan. 1, 2009 through Dec. 1,2009
If you sell the home with-in 3 years, the credit will have to be returned.
Loanlimits based current FHA and GSE limits (yes, this includes the new higher limits!)
Income limits $75,000 for individual and $150,000 for married couples

The California home buyer tax credit is up to $10,000 with a limited budget of $100 million dollars(remaining credit available is listed as $33+ million, but does not include pending applications) . If you are eligible this will be on top of the Fed’s 8k credit, totaling a possible $18,000 in your pocket

New construction only
Buyer must stay in the home for two years
Tax credit is paid over a period of three years to the homeowner
This program has a limited budget of $100 million dollars
There are no maximum income limitations for qualifying
YOU DO NOT NEED TO BE A FIRST TIME HOME BUYER TO QUALIFY FOR THIS PROGRAM!

What is a Borrower?

demetriushousing — Fri, 13 Nov 2009 10:30:07 +0000

A borrower is someone or party of people who receive something of value such as a property, with an obligation attached to pay back something of greater value. In real estate terms, the borrower will receive a property as longs as they pay back the loan with certain conditions and terms, such as an interest rate.

Short Sell Your Home

demetriushousing — Fri, 13 Nov 2009 10:24:12 +0000

A short sale is an agreement with the lender to accept less than the amount owed by a borrower. This agreement from the lender releases the borrower from the mortgage, helping them prevent foreclosure. This is the best option for any borrower who is facing foreclosure.

A short sale will not affect your credit score as poorly as a foreclosure would. It has been proven that a borrower will qualify to purchase another property 18-24 months after a short sale. This is greatly beneficial to homeowners considering the current market conditions, which in this case will be allow short sale candidates to purchase a property when the market bottoms (18-24 months). Homeowners who short sale now, will be able to have equity in new properties purchased in the next 18-24 months. We have helped homeowners in all types of situations; we will be able to help you too. Whatever your hardship may be, one of our counselors will be able to pave your way to a bright new future!

In order to be eligible for the short sale, Housing Assist will have to prove to your lender that you are a victim of some type of hardship. This will be the reason you are unable or will be unable to make payments moving forward.

What is considered a hardship?

Loss of primary income
Unemployment
Health Conditions
Medical expenses
Relocation
Failure of business
Bankruptcy
Death of spouse or significant other
Divorce or separation

We have built relationships will all major lenders and will be able to establish a case for you. Don’t be discouraged, there are options available to you!! Call a Housing Assist counselor today at: 888-877-0078

OUR SERVICES ARE 100% FREE.

Short Sale Experts in Los Angeles

demetriushousing — Fri, 13 Nov 2009 10:23:09 +0000

LOS ANGELES, Calif. July 30, 2009/Housing Assist of America – (www.housingassist.com) America’s #1 Short Sale Specialist announced a 75% success rate for helping distressed property owners during the nations housing crisis. With more than 336,173 foreclosure filings reported in the month of June, 2009 and 1,905,723 foreclosure filings, default notices, auction sales notices and bank repossessions we reported on 1,528,364 U.S. properties during the first six months of the 2009 year. Those numbers represent a 15% increase in total property filings for 2009 and the fourth straight month of 300,000 filings.

“This is a crucial time not only for the housing industry, but more so for the home owner,” said Housing Assist of America President, Aram Afshar “We talk and meet with hundreds of people a month who are on the verge of losing their home and not being able to purchase another one for 10 years because of foreclosure. For many of them, this is the biggest purchase they have ever made in their lives, and you can feel and hear the pain that comes with their situation.

Those who have filed for foreclosure understand that this will negatively affect their credit score and their ability to purchase a home in the coming years. For the hundreds of thousands who have filed for foreclosure or who are on the verge of foreclosure, many of them didn’t or don’t know that there is another option.

While foreclosure is a way out of a bad loan, there are long term consequences to this decision. On the other side of foreclosure, there is the option of a Short Sale. Short Sales place an immediate stop to foreclosure and only affect your credit rating minimally; staying on your credit report for two years and dropping your credit score by less than 100 points.

Short Sales are a way to save more than your credit score, a bad loan and the possibility of purchasing a new home in two years. It saves you the stress and gives you a little of your piece of mind back.

Take a moment to visit the Housing Assist of America website to see how you can benefit from their free Short Sale, Loan Modification Refinancing, VA services and more.

Short Sale Definition

demetriushousing — Fri, 13 Nov 2009 10:21:45 +0000

A short sale is when a property owner sells their property for less than the amount owed on the loan. The lender accepts a discounted payoff, and will release the loan that is secured to the property.

Short Refinance, A Practical Look

demetriushousing — Fri, 13 Nov 2009 10:19:33 +0000

Last week I received a call from a family that was more than $160,000 upside down on their mortgage. The call started out as a possible listing for a short sale but about half way through the application we came up with an alternative solution, a “Short refinance” through the Obama Administration’s “Making Home Affordable” program.
If you qualify, the program is excellent and may offer some homeowners the ability to refinance in the following situation:
you are current on your mortgage payments but unable to refinance to a lower interest rate because your home value has decreased.

For example, this is my applicant’s situation: Current loan: $433k Payment: $3,036 Monthly (Principal + Interest) Current balance: $278k Stable income and no late payments in the last 12 months
Assuming that my client meets all the program requirements, this is what their new loan will look like:

New loan: $243,000
New payment: $1442
Monthly (Principal + Interest + PMI)
You did the math right…Less than half!

This program will not help everyone but it certainly offers a solid solution for those who qualify. A 10 minute phone call can usually determine your eligibility therefore this is obviously worth looking into. Please contact me if you would like more detailed information about the program, I would love to help you out!

Mortage Defaults

demetriushousing — Fri, 13 Nov 2009 10:15:45 +0000

Up to 26% of U.S. homeowners who stop paying their mortgage may be doing so intentionally, not because they can’t make the payments but because they don’t want to put money into a house that’s worth less than what they owe….. Click here to read on about why you should SHORT SALE your home.

Inventory Dropping Fast

demetriushousing — Fri, 13 Nov 2009 10:14:57 +0000

It’s no wonder that builder confidence is soaring — their inventory of homes for sale is depleting at an exponential pace.

For the fourth straight month, Home Sales gained, posting the best numbers since last September’s meltdown and handily beating economist expectations.
The available supply of homes is down to 7.5 months nationwide.
It’s further evidence that the housing market may have bottomed at some point this past spring.

To be sure, the strong housing data is, in part, a reaction to three outside factors:
1. Low mortgage rates
2. An expiring government tax credit
3. Hefty builder incentives

But, buyers are buyers and the clearing out of outstanding inventory provides terrific support for home prices. It also gives them reason to rise.
Coupled with the blowout Existing Home Sales numbers from July, therefore, this months’ New Homes Sale report may be a signal that the Buyers’ Market is ending and the Sellers’ Market is beginning.

If you’re planning to buy a home this year or next, it may be time to get a move on. Wait too long, and prices may be up.