JORDON WHEELER

Yesterday, HUD announced that there is significant help coming for many of its current mortgage holders. In a surprising announce (and sure to confuse some due to other changes), FHA announced 'price cuts to encourage streamline refinancing' (link to the HUD press release).

There are two general requirements for borrowers who currently have an FHA insured mortgage. First requirement is that the borrower has to be current on their FHA insured mortgage. The idea is to reward responsible borrowers for staying current on their mortgages. The second requirement is that the FHA insured mortgage must habe been originated on or before May 31, 2009.

HUD states that 3.4 million households with FHA insured mortgages stand to potentially benefit from this program. That is a lot of people. The savings to these existing borrowers will be partly paid for with increasing upfront premiums from 1.0% to 1.75% on mortgages endorsed starting April 9, 2012. So buyers need to move quickly to avoid the increase in the FHA Upfront MIP. And moving quickly in metro Atlanta is tough as inventory is at low levels these days.

So my question is how many of these 3.4 million households can truly benefit from this new program? If they have been current on their mortgages up until this point, I would think that most of them have taken advantage of the low interest rates currently available.

Maybe there is a population that is current on their mortgage but not current on other obligations making it not possible for them to be refinanced under current rules.

Lenders, what do you think of this 'new' program to help folks with an FHA mortgage?

HUD Home - Fairburn GA 30213 - 4090 Oriole Lane - $79,000

This HUD home in Fairburn GA is located very close to downtown in the Avalon subdivision. The HUD home features three bedrooms, two and half bathrooms, in over 2300 square feet of space. This one is a SUPER bargain for the first time home buyer or investor. Call 404 923 4210 extension 1 for immediate information.

HUD Home - Fairburn GA 30213 - 4090 Oriole Lane - $79,000

The HUD home was built in 2007 and originally sold for $188,000. And you can get it today at a 54% discount. It just makes since to take advantage of the bargain found in this HUD home in Fairburn GA. Call 404 923 4210 extension 1 for immediate information.

HUD Home - Fairburn GA 30213 - 4090 Oriole Lane - $79,000

We are a Certified HUD Selling Broker, and we know the process to help you find and buy your HUD home in Fairburn GA. Give our office a call at 404 923 4210 extension 1 for immediate assistance.

HUD Home - Fairburn GA 30213 - 325 Buckingham Lane - $120,000 - 4 Bed/2.5 Bath!

What a deal on this large HUD home with over 3000 square feet of space! Plenty of space for the first time home buyer! And a good deal for an investor as well. Call 404-923-4210 extension 1 for more information!

HUD Home - Fairburn GA 30213 - 325 Buckingham Lane - $120,000 - 4 Bed/2.5 Bath!

Ask about the HUD $100 Down Program for owner occupant buyers using an FHA mortgage! Call 404-923-4210 ext 1 for more information on this HUD home!

HUD Home - Fairburn GA 30213 - 325 Buckingham Terrace - $120,000 - 4 Bed/2.5 Bath!

This one needs a repair to the AC unit that is estimated to cost $330. Not bad for 2800 square feet of space. Call 404-923-4210 ext 1 for more information on this HUD home!

Contact our office at 404 923 4210 extension 1 for immediate assistance with this HUD home! We are a Certified HUD Selling Broker!

Metro Atlanta Buyers - What You Must Know About Georgia Home Inspections!

Georgia has licensing requirements for building contractors, real estate agents and brokers and appraisers, but not for home inspectors. That's right - home inspectors are not required to be licensed in Georgia. So metro Atlanta buyers, be sure to check out who you are hiring to inspect your home. After all this is likely to be the largest purchase in your life.

Check out John Adams interview about Home Inspections

Here are six 'MUST HAVES' for Georgia Home Inspectors that I recommend to buyers in metro Atlanta:

1. A Georgia Home Inspector MUST HAVE a good track records with past clients. References must be readily available to check.
2. A Georgia Home Inspector MUST HAVE experience in the profession. My recommended inspectors stay aware of the current building codes and the changes that have taken place of the years. They also have experience as builders.
3. A Georgia Home Inspector MUST HAVE a solid education. Both are degreed engineers which is not a necessity but helps to build confidence in their ability to perform at the top of the home inspection profession.
4. A Georgia Home Inspector MUST HAVE the necessary level of insurance to be able to perform inspection on existing and new construction. Builders typically require bonded and insured third party home inspectors. Build do not want to assume any liability for any problems the home inspector may cause. The contractural language will point out what a particular builder requires of a buyer's home inspector.
5. A Georgia Home Inspector MUST HAVE the ability to provide a soft copy report within 24 hours of completing the inspection. Having a soft copy report saves time and paper. And time of the essence when fitting the inspection into the due diligence period of the contract. We (buyer and agent) have to take the completed report and determine what we want to require the seller to repair before the due diligence period expires.
6. A Georgia Home Inspector MUST HAVE membership in one or two associations. The two most well known associations for home inspectors are - ASHI (American Society of Home Inspectors) and GAHI (Georgia Association of Home Inspectors). Both have very high standards for their members.

Metro Atlanta Buyers,

NACA Purchase Program Workshops are happening every month, and I am your NACA Selling Broker. Interest rates continue to be very low, and NACA’s Purchase Program is a no down payment, no closing costs, no fees program to help you get into a home. The first step is to attend a workshop. Signup online here. Here are the places and dates for the next month. You can call 404 377 4545 for more information at the NACA Office. Or call my direct line at 404 246 3210 to discuss further. And if not you, then someone you know.

Thank you!

February 25, 2012

· Redemption Community Church,

· 9AM to 1PM

· 965 Winburn Drive, East Point 30344

March 11, 2012

· West End Seventh Day Adventist Church

· 9AM to 1PM

· 845 Lawton Street, Atlanta 30310

March 24, 2012

· Christ Lutheran Church

· 9AM to 1PM

· 2719 Delowe Drive, East Point 30344

April 14, 2012

· Rhema Christian Fellowship

· 9AM to 1PM

• 2649 McAfee Road, Decatur 30032