You've decided to buy a home. Way to go. Now what? It's easy to get excited about buying a home. Buying a home is sexy and fun. The problem is that too many people forget to do their homework. If you have made the decision to purchase a home, you have just completed the 1st step. The 2nd step IS NOT to find a house. Here is a quick step by step guide to buying a home:
1. Make decision to STOP paying your landlord's mortgage!
2. Contact local mortgage professional, schedule a face to face meeting
3. Work with lender to create long-term financial plan
4. Get pre-approved
5. Using the amount that the lender recommends - make your home shopping checklist
6. Lender will recommend 1-2 top Realtors
7. Interview Realtors (remember they will be guiding you through the process)
8. SHOP for the RIGHT home
9. Make an offer
10. Meet with your lender to go over your paperwork & get your loan started
If you don't follow these steps you could end up shopping for a home in the wrong price range. If you don't work with an experienced lender you could end up spending thousands of dollars more in closing costs and interest charges. You have the right to expect excellent service from all parties involved in your transaction. Communication is the key to a successful home purchase. If you have already started the process with a lender that is not pro-actively communicating with you. Don't be afraid to move your transaction to a lender that will go beyond your expectations.
 |
March 4, 2009 Relief for Responsible Homeowners One Step Closer Under New Treasury GuidelinesWith Detailed Program Requirements, Servicers Can Now Begin Extensive Borrower Outreach Efforts Underway Washington, DC - The Obama Administration today announced new U.S. Department of the Treasury guidelines to enable servicers to begin modifications of eligible mortgages under the Administration's Homeowner Affordability and Stability Plan - announced by President Barack Obama just two weeks ago. The release of detailed requirements for the "Making Home Affordable" program facilitates implementation of the critical provisions that will help bring relief to responsible homeowners struggling to make their mortgage payments, while preventing neighborhoods and communities from suffering the negative spillover effects of foreclosure such as lower housing prices, increased crime and higher taxes. "Two weeks ago, the President laid out a clear path forward to helping up to nine million families restructure or refinance their mortgages to a payment that is affordable now and ito the future. Today, we are providing servicers with the details they need to begin helping eligible borrowers," said Treasury Secretary Tim Geithner. "It is imperative that we continue to move with speed to help make housing more affordable and help arrest the damaging spiral in our housing markets, just as we work to stabilize our financial system, create jobs and help businesses thrive. Economic recovery requires action on all three fronts." "Only two weeks after the President unveiled his plan to help promote homeowner affordability, we are moving forward today with these guidelines to implement that plan," HUD Secretary Shaun Donovan said. "This step forward represents a tremendous coordinated effort between major government and regulatory agencies to help bring relief to America's housing market and homeowners. This plan will help make home ownership more affordable for nine million American families and in doing so, help to stop the damaging impact that declining home prices have on all Americans." The guidelines will implement financial incentives for mortgage lenders to modify existing first mortgages and set standard industry practice for modifications. Treasury announced today that the Making Home Affordable program will also include additional incentives for efforts made to extinguish second liens on loans modified under this program. Extinguishing second liens will make mortgages more affordable, improve loan performance, and help prevent foreclosures. In conjunction with the release of the new guidelines, Treasury, HUD and other members of a broad interagency task force have prepared consumer friendly Q&A and eligibility assessment tools for borrowers available at FinancialStability.gov. To ensure the program can be implemented as quickly as possible, the agencies also have conducted extensive outreach with housing counselors and mortgage servicers, including the development of call center phone scripts, a training plan and detailed guides, to prepare them for incoming inquiries from borrowers in the wake of the guidelines release. ### |
|
It's tax time again and for many of you that means....REFUND TIME! What did you do with your refund last year? Pay off a credit card? Take a little trip? Buy new furniture? Can you even remember? This year, why not make an investment in your future? Don't you deserve it?
Your landlord knows that one of the most sound investments you can make is real estate. He's also figured out that you are the perfect person to pay his mortgage. Every month you pay his loan payment right on time. Isn't it time you did something for you and your family? With interest rates at historic lows, low down payment options and a strong Tri-City housing market, now is the best time for you make your move. It's so simple to get approved. You are one phone call away. There are a number of ways to apply for your first home loan but none are easier then this 509.735.6603. Give us a call and ask for your free first time buyers consultation. Don't forget to ask how you can collect $8000 from the IRS when you buy before December 1, 2009.
By Rudabeh Shahbazi KEPR TV Reporter
Video YAKIMA COUNTY-- The only thing more romantic than Valentines Day in wine country, is knowing you're doing it for a good cause, say organizers of Saturday's wine tour.
The proceeds went to Habitat for Humanity, and representatives networked with wine tasters to recruit volunteers for the nonprofit.
The plan was for a bus-load of people to spend the day exploring the areas wineries, but organizer Dana Mundy soon had to order another bus and put people on the waiting list for the first fundraiser of its kind. More than 100 people participated.
"It's just been thrilling," said Mundy. "Plus, it's fun. It's fun to get to know other local business people and just to connect with other people that feel the same way we do about the community."
Mundy works for AmeriChoice, a home loan company, so she said the beneficiary was a natural fit.
Habitat for Humanity Executive Director Theresa Richardson, says the proceeds were a welcome donation in this tough economic climate. The price of raw materials and labor needed to build homes is sky-high. At the same time, the need for affordable housing is growing.
"The families, you know their lives are going to change," said Richardson. "That cycle of poverty has ended because they have an affordable place to live and and to take care of their families. They're so proud of it. Their kids' education improves. Their health improves. It's just a win win win situation."
The organization's goal is to build a new home every month. Habitat is working on four new houses in Pasco right now, and will soon begin more in Kennewick.
The effort to recruit new volunteers seemed to be working.
"It's really given me a new appreciation for what they do and in just visiting with people who are here from Habitat, and really given me some interest in helping families get affordable housing," said wine taster Deanne Stephens.
On this Valentine's Day, the event gave a whole new meaning to love for others, as the generosity kept flowing.
"That arrow shoots through he heart of the whole organization, and ends up benefiting our families," said Suzzanne Carroll, who works for Habitat.
The wine tasters raised a couple thousand dollars, but Habitat is always in need of funds. For more ways you can help, visit their website at http://www.habitat-tcp.org/.
The next tour will be of Walla Walla vintage wines in June 6th from 12:00 pm - 7:00 pm. Tickets are $40 each and available at AmeriChoice Home Loans 509.735.6603.
Tri-Cties, Washington sellers can SELL high and BUY Low!
The Tri-Cities was ranked 25th in the country for housing price appreciation in the Federal Housing Finance Agency's fourth quarter 2008 report. Tri-Cities home prices reportedly showed a 1.73 percent appreciation rate from the third quarter of 2008 to the fourth, and a 2.3 percent growth when comparing fourth quarter 2008 to the same time in 2007, according to the FHFA.
What does this mean for sellers? If you currently own a home and are considering moving up, now is a great time to considering selling your home. While homes under $300,000 are still moving fast, those priced over $300,000 are offering some exceptional buys. This means you can still sell high and buy low. Mortgage rates remain low. Now is the best time to sell your home and buy the home of your dreams. Call 509.735.6603 today to find out what your options are.
Dana Mundy is a Certified Mortgage Planner and the National Trainer and Marketing Coach for HomesByLender.com. In 2008 she founded HouseHuntingSafaris.com. An online tool for Realtors & Lenders.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
