Having just spoken with a few Realtors and Buyers that were told by other lenders that OHFA funds are gone, Realtors should know that this is FALSE. OHFA does still have funds available under their Rate Based Program and also under their Mortgage Credit Certificate Program.

One Realtor also said their normaly loan officer said it is Too Much Paperwork to do OHFA Loans. If you desire to assist your buyers, find a lender that uses OHFA and has no objection to the little bit of extra paperwork. (One Form signed by the Seller, 3 Forms signed by the Buyer) If that is too much extra work for your Loan Officer, I suggest you find a new loan officer.

Also any Buyers considering a 203K loan will find the OHFA program the best deal available in most cases.

If you have a buyer that qualifies under OHFA's First Time Buyers Conventional Loan Program and uses their program, they will receive 3 years of Involuntary Unemployment Assistance without cost to them. It is included in the Monthly PMI on their loan. With the recent rise in rates that we have seen the current 5.50% rate on the OHFA programs is very attractive.

HFA loans insured by PMI may now include involuntary unemployment assistance to help qualified HFA borrowers make their monthly mortgage payments due to involuntary job loss. And there's absolutely no cost to the lender or the borrower!

PMI's WorkGap Program Details

*IUI coverage begins on the HFA Loan Closing Date; however a 60-day vesting period applies IUI coverage period is effective through the 36th month from the HFA Loan Closing Date The WorkGap program may pay mortgage loan payments - including principal, interest, taxes, and insurance - up to $1,500 per month for a maximum of six benefit payments for eligible borrowers ($9,000 maximum benefit and 6-month maximum benefit period apply). A vesting period of sixty (60) days applies from the Loan Closing Date.

Also, if you have any 203K buyers, I can use the 5.50% OHFA rate for them. With the current volatility in rates most 203K lenders are over 6.00%. This can save your buyers in their monthly payment. Finally, very few lenders know or use the float down option that OHFA has as part of their program.

Lastly, as of noon, there was a little less than 4.3 Million in OHFA MCC Non-Target Dollars available, These funds are going very quickly and if you have buyers ready to write offers they may wish to be more aggressive in there offer. If they consider a 5,000 more on there offer will only cost them 30.00 per month and they lose a MCC credit of up to $2,000 per year, it does not make sense to me. I should be available most of this weekend to discuss this program with any buyers and also register their completed purchase agreements under the program.

IF you have not visited Cuyahoga Falls Rockin on the River's Concert's it may be something to do this summer.    Here is the website http://www.rockinontheriver.com/ and below is the June schedule of concerts. 

June 5th	Zoso (Led Zeppelin Experience )
	The Ultimate Led Zeppelin Experience Nothing more needs to be said. Rolling Stone Magazine award for the #1 Led Zeppelin tribute band in the world. " Listen to Samples
	Opening the Evening will be Lock 4. Playing the hits of bands like Matchbox 20, U2, Staind, Foo Fighters, and more Listen to samples
June 19th	Bad Medicine (Bon Jovi Tribute)
	The only tribute band hired by Jon Bon Jovi himself, fronted by Steve Sage (who really looks like Bon Jovi) this band has played all over the country and you get to see them for FREE. This concert is brought to you by Carnival Cruise. Listen To Samples
	Opening the evening will be The Girls Band. You may have seen them on Fox 8 news in the morning. This band features TONS of great female front rock (Pat Benetar, KT Tunstall, Katrina and the Waves). This nine piece band will kick the night off in style. They sound phenominal (watch video)
June 26th	Higher Ground (Red Hot Chili Peppers Tribute)
	The nation's most authentic Red Hot Chili Peppers tribute band. Spanning the band's entire catalog of hit after hit after hit. Listen to Sample
	Opening the show will be hooked on tonics. Fusing rock, hip-hop, funk, and soul, the Hooked On Tonics band has been touring nationally and packing venues and colleges since their debut album "Do You Wanna" hit college radio in 2006. Listen to Samples

If you were not notified previously, There is a seminar this coming Tuesday April 21, 2009 in Downtown Cleveland. Below are details of the announcment.

If you are unable to attend the seminar and desire information on FHA's 203K, program please visit www.Ohio203k.com

203K - INNOVATION THROUGH RENOVATION

Rebuilding Neighborhoods
Federal Housing Authority

PROGRESSIVE SOLUTIONS TO
ENHANCE YOUR BUSINESS-OUR NEIGHBORHOODS

Tuesday
April 21, 2009
9:00AM-12:00PM
US Bank Building Auditorium 1350 Euclid Avenue, Cleveland, OH 44115

9:00AM Presentation to Municipalities Explore how 203K can increase owner occupancy and pride of ownership in our neighborhoods Learn how homebuyer programs work with 203K, including OHFA's MCC program. Q&A session will follow

10:30AM Presentation to Realtors, Lenders, etc... Learn how 203K can increase client base, affordable home opportunities, & strengthen neighborhoods with compatible homebuyer programs , incl. OHFA Q&A session will follow Join us! Open to all lenders, realtors, governments, and housing counselors

OPPORTUNITY AVAILABLE

LENDER PRESENTATIONS - A limited number of FHA lenders will be given the opportunity to give formal presentations on the FHA 203K program or the FHA 203K Streamline program during this INNOVATION THRU RENOVATION event. FHA lenders will be selected on a first come- first serve basis. If you are an FHA approved lender interested in taking advantage of this presentation opportunity, please contact 216-798-5466 for details. The U.S. Department of Housing and Urban Development is sponsoring a 203(K) informational seminar titled Innovation Through Renovation on Tuesday, April 21, 2009 from 9:00AM - 12:00PM. This seminar is designed to expand housing opportunities for owner occupants and promote neighborhood revitalization. All lenders, realtors, housing counseling agencies and governments are invited.

This event will serve as an outreach tool to increase 203(K) product awareness, provide technical instruction, and identify industry best practices. It is our goal that all attendees will gain valuable information for use in pursuit of our mutual goal - preserving Ohio's neighborhoods. Join us.

Please visit the following link for additional information and TO REGISTER for this important event. http://www.hud.gov/local/index.cfm?state=oh

Open to all lenders, realtors, governments, and housing counselors.

Having Lived in Northern Ohio Since 1969, I am sorry to say that I have not taken advantage of some of the many great attractions here in Northern Ohio. I plan on making 2009 a year to explore the many great places to see and things to do.

Next Saturday, April 25. My Girlfriend and myself plan on finding Brandwine Falls and also seeing "Shout Sister Shout" tha is part of the Cuyahoga Valley Heritage Series Concerts. If any Northern Ohio Rainers are looking for something to do, you might put this on your calendar. If you do, drop me a note and maybe we can share a cup of coffee or beverage of your choice.

Also, there appears to be a concert that might be intesting.

Additional Information on both items are below with links to more information.

Brandywine Falls http://www.gowaterfalling.com/waterfalls/brandywine.shtm
May, 2004

State: Ohio

Location: Cuyahoga Valley National Park

Height: 60

Crest: 15?

Water Source:Brandywine Creek

Waypoint: 41.27694N 81.53833W

Summary:This is a very scenic and easy to visit waterfall. It is one of the highlights of Cuyahoga Valley National Park, and the most impressive waterfall in the Lake Erie Watershed.

Apr 25

Cuyahoga National Park Boston Heights, OH [MAP] 8:00pm TIX PRICES: $15 adults / $10 CVNPA members

http://www.shoutsistershoutmusic.com

Events in the Next 30 Days