Versailles, KY

Saw this online this morning and wanted to share it! More good news for first time home buyers but a short timeline to "git er done"!

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KENTUCKY HOUSING CORPORATION (KHC) HAS SET ASIDE $5 MILLION FOR THIS PROGRAM FOR NEW RESERVATIONS THROUGH NOVEMBER 30, 2009


First Home ADVANTAGE

LOAN AMOUNT
Up to $4,500 In $100 increments. Defer payment untilJuly 1, 2010.


WHAT IS IT?
Second mortgage with P&I payments deferred until July 1,
2010.

ELIGIBLE USES
Down payment and closing costs related to a home purchase.

BORROWER ELIGIBILITY
Must obtain a KHC first mortgage through an approved KHC lender and be a first-time home buyer.

INCOME AND PURCHASE PRICE LIMITS
Must meet KHC income and purchase price guidelines.

TERM AND RATE
After the initial deferral period, the loan will fully amortize over ten years, starting July 1, 2010, at the current first mortgage interest rate not to go below 6 percent.

UNDERWRITING GUIDELINES
Borrowers must have a 620 minimum credit score. Follow agency and KHC guidelines when applying for a second mortgage loan as down payment assistance. Must include the second mortgage loan obligation in the calculation of the borrower’s total housing expense, even though the payment is deferred until July 1, 2010.

DISCLOSURE
Borrower will receive a disclosure detailing information on the terms of the loan, the tax credit, and the option to repay KHC through the federal tax credit.

CLOSING DOCUMENTS
KHC will provide the note and mortgage for the second mortgage in the closing documents set with the first mortgage documents.

APPLICATION FEE
$50 KHC second mortgage fee charged at closing.

FEES
Processing fee to lender for second mortgage: $50.
For more information, contact
Kentucky Housing Corporation’s Homeownership Department toll-free in
Kentucky at (800) 633-8896 or (502) 564-7630, extension 291, or TTY 711.

HURRY! FIRST HOME ADVANTAGE PROGRAM ENDS ON NOVEMBER 30
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I hope it helps a few home buyers and stimulates the market like it was intended!



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Ok, continuing from yesterday. You show the Seller the Virtual Tour, he agrees that seeing the tour is almost as good as visting the property. NOW connect the dots. " Mr and Mrs Jones if I was to show your property every day for the next 30 days would you be happy" | Sure. If I showed you that 30 people looked at your tour in the next 30 days would that be satisfactory | Sure. Now it is up to you to have a distribution channel to produce that 1 showing a day. If you cant show me that you do not have an sufficient web presence. And if you cant show me that detailed a statistic, you shouldnt be selling Real Estate in a Web 2.0 world.

Joe Riddell has been working at a feverish pace at the Keeneland September sales making sure that all of his business contacts know about the introduction of Bluegrass Trophy Properties. With an idx serach of all area horse farms and Hi-Def virtual tours, it is quickly becoming a big player in the horse farm sales market online.

Our Videos on Bluegrass Trophy Properties seek to inform people as to the factors that are taken under consideration in the purchase of a horse farm. Soil analysis has got to be tops on the list. That is what makes the bluegrass region unique. Joe explains the geology and why champion race horses are consistently raised on one farm while another operation has limited success

BALLINSWOOD FARM - The most outstanding soils in Central Kentucky compose this Brentsville Road farm. It truly is a superbly laid out property with everything needed for a Broodmare and Yearling operation. Three homes are on the farm, along with three barns (51 stalls), six horse exercisers, city or well water, a 96'x54' equipment shed, hay storage and work-shop, mature tree-lined asphalt drives, et cetera. The farm also adjoins Darley. Much more can be seen with a private viewing; call today.

A Bluegrass Trophy Property