About Tampa's Riverview

Credit Repair Techniques - Part 2 of 3

Now that you have ordered your credit reports and mailed in your dispute forms lets go on to the next step in the repair process.

First of all DO NOT APPLY FOR ANY MORE LOANS during the repair process. This will only result in additional inquires that will result in lowering your credit scores even further.

Secondly DO NOT PAY OFF YOUR COLLECTIONS I have seen where this has actually resulted in Lowering a persons credit scores.

Finally it is best to have no more than 3 or 4 open credit cards at any given time. This includes Master Card, Visa, Discover Card, American Express, Shopping Store Cards and Gas Station Cards. Pick out the 3 or 4 you plan to keep and close the rest.

The credit cards you want to keep open are the ones with the highest credit limits and the lowest interest rates.

Once you have the 3 or 4 cards you have chosen to keep open look at the balances compared to the credit limits. It is good to have a balance less then 50% of the cards credit limit and bad to have a balance over 50% of the cards limit. So begin paying down the cards with balances in excess of 50% of the cards limit. You mau also call and ask for an increase in the cards limit. This may result in getting you under the 50% rule for that particular card.

I have seen this increase a persons credit scores by over 100 points in 30 days and the best part is it cost little or nothing to do it.

Stay tuned for the final stage of my Credit Repair Techniques. Part 3 of 3 will be for those who have already taking steps 1 and 2 who have credit issues beyond the norm and whom require professional help to resolve.

HUDS Good Neighbor Next Door Sales Program

HUD'S Good Neighbor Next Door Program is simply amazing. If I were a Police Officer, School Teacher, Fire Fighter or EMT; I would be asking where do I sign up? Real Estate Professionals that are privy to this program can have a good edge selling these properties when they come available in there prospective communities.

Use the follow site to find the eligible HUD listings in your area. I am told that eligible listings are scarce and go quick; so keep this link handy to refer back to from time to time for up-dated listings.

http://hudhomestore.com/HudHome/Index.aspx

Here's the scoop; individuals in the above professions can buy HUD homes for 50% of the listed or appraised value whichever is less.

If you are eligible and you are eligible if you are a police officer, teacher, fire fighter or EMT then you can buy a HUD home that is listed for $100,000 for just $50,000 and you can obtain financing via an FHA loan. HUD provides the other $50,000 via a silent second at 0% interest; that is forgiven after only 3 years; and the buyers keep the equity earned.

The buyer must keep and reside in the home for a minimum of 3 years; but even if they change professions they get to keep the home and all the equity at the end of 3 years.

Of course you have to qualify for the FHA LOAN or pay cash; but here is a link to additional information about this incredible opportunity for our First Responders and Educators.

http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndfaq.cfm

*Keep in mind that many of these properties are located in neighborhoods that need improvements in infrastructure and would benefit from having more teachers, police officers and fire fighters living in them to assist in their recovery and revitalization process.

The 203K Loan is a perfect product to assist in this effort to revitalize these area's. The Streamline 203K Loan provides up to $35,000 for repairs and improvements to these homes.

Hillsborough County Florida Home Buyer Assistance Program Process and Time Line

1. County sponsored home buyer education class is required.

2. Home buyer signs contract for home and is approved by lender.

3. Lender sends Reservation Form with contact to county.

4. With-in 5 days, home is inspected by county staff.

5. If necessary, lead based paint assessment is completed.

6. Lender sends loan package to county.

IF NO REPAIRS ARE NECESSARY......

7. County approves application package.

8. County contracted appraiser completes appraisal.

9. Home buyer meets with home buyer counselor.

10. Mortgage package e-mailed to title company.

11. Home buyer assistance check is released by county after HUD 1 is approved.

12. Closing occurs at the offices of the title company.

FOR MORE INFORMATION PLEASE VISIT:

OFFICIAL WEB SITE OF HILLSBOROUGH COUNTY FLORIDA

For More Information on Government Loan Programs in the State of Florida Please Visit:

Government Home Loan Programs in the State of Florida

Riverview is in South Hillsborough County. The Alafia River meanders through the town. Riverview has had a lot of growth in the last few years both in the commercial area and residental area. There are a lot of planned communities and rural areas. Some of the planned communities are Rivercrest, South Fork, Summerfield, Panther Trace, South Pointe and more. Riverview is located just south of Brandon. It is located off of I-75 and Highway 301.

To look for homes for sale or rent on MLX in this subdivision and others in Tampa Bay and Pinellas area go to my website by clicking on Tampa Homes.

The contents of this posting are the property of Pam Joffe and Solaris Realty of TampaBay. Pam Joffe is a broker working in the Pinellas and Hillsborough area helping buyers and sellers buy and sell homes. Contact Pam at 813-245-0316 to list your property for sale or to purchase a property in Hillsborough, Pinellas or Pasco County area. Information is provided in this blog with the intent to educate homeowners and buyers about Tampa, St. Petersburg, Clearwater, Brandon, Wesley Chapel, Lutz, Valrico, Odessa and other communities in the Tampa area. For more information on different communities and subdivisions go to my website by clicking on Tampa Homes. You can also call 813-245-0316.