Project Phoenix is focused on helping families in Snohomish County who are experiencing foreclosure to aviod homelessness and other devasting outcomes and to help create a recovery plan for each family.
Homes for Good has five new affordable rental homes that will soon be available in Maryville. Homes for Good, is a non profit organization providing assistance for families with children who have lost their homes to foreclosure and are at risk of being homeless.
Income Eligibility and Rent:
These homes are restricted to families in Snohomish County at or below 50% of the areas Median Income. For a family of 3, annual income would be $37,950 or below. Rent levels are set in compliance with HUD Home “Low Rent” levels, approximately $1,095 for a 3 bedroom homes. Rent includes utilities.
How it Works:
Home For Good's Equity First program offers participants the opportunity to live in the home of their choice now and then purchase the home for the same price as Home For Good originally paid for it, up to two years later, with a fixed, low interest rate assumable mortgage. Each participant accepted into the program works through an individualized Home Buyer Action Plan designed to enable the participant to qualify for the conventional mortgage at the earliest possible opportunity during a two-year period. All mortgages are placed in Fannie Mae approved conventional loans at 30 or 40 year terms with fixed interest rates.
What Happens to Families After Loosing Their Homes to Foreclosure?
According to the National Coalition for the Homeless, the overwhelming majority (76.2% of those experiencing foreclosure…were staying with families or friends. More than half (54.5%) stated that people were going to emergency shelters. Even more alarming, 41.6% of families who lost their homes were already living on the streets.
How to Apply: Contact Homes For Good at 425-672-9098 Online Applications
About HomeSeeker Center
HomeSeeker Center (HSC) provides a stable platform for consumers to search for property that reflects the best values in the housing market today. The Company aggregates available Distressed Property Sales, New Construction Homes, and Banked Owned Property and Building Lots in one convenient location. HSC is designed to Assist Distressed Property Owners in understanding options available to them to avoid or prevent foreclosure. HSC specializes in these difficult home sale situations. HSC provides automated real-time market updates combined with its Puget Sound Real Estate Blog to keep savvy consumers informed. Media Contact Information: Donald Sieb Info@HomeSeekerCenter.com 425-931-4665
Homes for Good have five new affordable rental homes that will soon be available in Maryville. Homes for Good, is a non profit organization providing assistance for families with children who have lost their homes to foreclosure and are at risk of being homeless.
Income Eligibility and Rent:
These homes are restricted to families in Snohomish County at or below 50% of the areas Median Income. For a family of 3, annual income would be $37,950 or below. Rent levels are set in compliance with HUD Home “Low Rent” levels, approximately $1,095 for a 3 bedroom homes. Rent includes utilities.
How it Works:
Home For Good's Equity First program offers participants the opportunity to live in the home of their choice now and then purchase the home for the same price as Home For Good originally paid for it, up to two years later, with a fixed, low interest rate assumable mortgage.
Each participant accepted into the program works through an individualized Home Buyer Action Plan designed to enable the participant to qualify for the conventional mortgage at the earliest possible opportunity during a two-year period. All mortgages are placed in Fannie Mae approved conventional loans at 30 or 40 year terms with fixed interest rates.
What Happens to Families After Loosing Their Homes to Foreclosure?
According to the National Coalition for the Homeless, the overwhelming majority (76.2% of those experiencing foreclosure…were staying with families or friends. More than half (54.5%) stated that people were going to emergency shelters. Even more alarming, 41.6% of families who lost their homes were already living on the streets.
How to Apply:
Contact Homes For Good at 425-672-9098
Online Applications
WASHINGTON — The Obama administration is unveiling a new Mortgage Program to provide support to state and local housing agencies to provide Mortgage Help to thousands of home buyers and renters.
The administration said the new program would help to support low mortgage rates and expand resources for low and middle income borrowers who want to buy or rent a home.
The program will feature two parts
The new program will operate under a law that Congress passed in 2008 to bolster the housing industry, which has been battered by the worst slump in decades, a downturn that saw home sales and home prices plunge and mortgage defaults soar to record levels.
The government said the new effort was designed to provide hundreds of thousands of affordable mortgages for working families and enable the development and rehabilitation of tens of thousands of affordable rental properties.
Treasury, the Department of Housing and Urban Development and the Federal Housing Finance Agency said in a joint news release that the new program would provide temporary support to local housing financing agencies and encourage them to return to relying on market sources for their capital as quickly as possible.
The local and state housing finance agencies, which provide loans to people with low or moderate incomes, have had a hard time raising money to fund loans due to the housing crisis and credit crunch.
“This initiative is critical to helping working families maintain access to affordable rental housing and homeownership in tough economic times,” Treasury Secretary Timothy Geithner said. “Through this initiative, the administration aims to help (the housing finance agencies) jump-start new lending to borrowers who might not otherwise be served and to better support the financing costs of their current programs — key components in stabilizing the housing market overall.”
By: Don Sieb
Snohomish County, WA. HomeSeeker Center has compiled a list of new construction homes and condos most not shown on MLS, where the builder’s and lender have teamed up to move standing inventory. These properties have been discounted to reflect current market values and the construction Lender is extending incentives to help their client get these properties sold.
Special Bank Financing Available…includes: Together these financing incentives can total $20,000!
• Low down payments (3.5-5%) • Mortgage interest rates as low as 3.5% based on buyers qualifications
• No mortgage insurance
• Up to 3% credit to buyer to apply toward closing cost
• Condo Financing available without 50% of the homes being sold
• “Jumbo Loans” Available based on amount financed by Buyer
“It is refreshing to see the Lender work closely with their builders to help both the builder and lender prevent foreclosure”, says Don Sieb, Managing Director of HomeSeeker Center. With fewer buyers in the market and standing inventor of new homes still remaining high, many builders have been forced to turn their development projects back to the lender. When this happens it continues downward pressure of home values.
HomeSeeker Center (HSC) compiled a list of over 125 eligible properties in Snohomish County, WA. Cities included:
• Arlington
• Bothell
• Everett
• Lake Stevens
• Lynnwood
• Marysville
• Mukilteo
• Snohomish
To learn more about available properties and financing incentives please contact us.
(HSC) specializes in distressed property sales…Connecting Buyers and Seller. (HSC) is a one stop resource that provides information about local market conditions and to find properties that are priced well below current market value in the Puget Sound Area. Buyers can expect to save thousands of dollars on distressed property sales. HSC aggregates all available Distressed Property Sales, New Construction Homes, and Banked Owned Property and Building Lots in one convenient location. We are adding additional properties daily so please check back frequently.
Snohomish County, HomeSeeker Center Announces New Web Release 4.0 to include a Mortgage Resource Center
By: Don Sieb
Snohomish County, WA. HomeSeeker Center (HSC) announced a new service (4.0 Release) Mortgage Resource Center integrated into its latest release of its web portal.
HomeSeeker Center is a unique real estate website in that it is content rich to assist both Buyers and Seller to learn more about local market conditions, find for the best deals in real estate, search NWMLS listings, to assist homeowners at risk of losing their homes, determine the value of a home they own and now valuable information about unique home loan programs available.
HSC is dedicated to providing resources to assist Buyers and Sellers in making informed decisions. The Mortgage Resource Center is designed to help Buyers understand the financing options available today and to address questions consumers may have.
HSC staff has found considerable confusion regarding availability of mortgage loans. Many of our clients believe you must have near perfect credit scores and have at least 20% down to qualify for a home loan. This clearly is not the case.
In a survey conducting by HomeSeeker Center only 1/3 of First Time Buyers indicated they were aware of the First Time Buyer Tax Credit Program. To insure HomeSeeker Center is providing its clients with expert guidance on mortgage programs, the company has partnered with Golf Savings Bank (GSB) to provide the experience and expertise in Mortgage Financing.
To learn more about zero or low down payment programs and to learn how to finance foreclosures please see links below:
• Benefits of Getting Pre-Qualified
• Find the Right Mortgage Based on Your Unique Circumstances
• Free Lending Resource Reports
Golf Savings Bank, is part of the Sterling Financial Family, began as Lynnwood Mortgage Corporation in 1981. Golf opened its doors as a full service bank in 2000 and by 2005 had become one of the most successful startup banks in US history.
HomeSeekerCenter.com facilitates an online community of consumers who want to know the facts about what is happening in ones local market. HSC operates a Blog to keep interested parties informed about trends and facts and allows them to interact freely with each other.
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.
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