|
Here's an interesting program being offer for Fannie Mae Borrowers, it will be interesting to see how this impacts the foreclosures of Fannie Mae loans... November 5, 2009 |
|
 |
|
|
|
|
WASHINGTON, DC -- Fannie Mae (FNM/NYSE) is implementing the Deed for Lease™ Program under which qualifying homeowners facing foreclosure will be able to remain in their homes by signing a lease in connection with the voluntary transfer of the property deed back to the lender.
"The Deed for Lease Program provides an additional option for qualifying homeowners who are facing foreclosure and are not eligible for modifications," said Jay Ryan, Vice President of Fannie Mae. "This new program helps eliminate some of the uncertainty of foreclosure, keeps families and tenants in their homes during a transitional period, and helps to stabilize neighborhoods and communities."
The new program is designed for borrowers who do not qualify for or have not been able to sustain other loan-workout solutions, such as a modification. Under Deed for Lease, borrowers transfer their property to the lender by completing a deed in lieu of foreclosure, and then lease back the house at a market rate.
To participate in the program, borrowers must live in the home as their primary residence and must be released from any subordinate liens on the property. Tenants of borrowers in this circumstance may also be eligible for leases under the program. Borrowers or tenants interested in a lease must be able to document that the new market rental rate is no more than 31% of their gross income.
Leases under the new program may be up to 12 months, with the possibility of term renewal or month-to-month extensions after that period. A Deed for Lease property that is subsequently sold includes an assignment of the lease to the buyer.
For additional information about the Deed for Lease Program, including full details on program eligibility, please review the Guide Announcement on www.efanniemae.com. |
Are you starting to think about hanging up your holiday lights this year? Consider trading your old lights in for new energy efficient LED lights!
City of Louisville
Holiday Lights Exchange Program
for Louisville Residents
Turn-in your strings of old Incandescent Holiday Lights for recycling and get a $5 Discount Coupon per
string (limit 4), for new LED Holiday Lights you can purchase at participating Louisville Merchants!
Turn in your old lights at the Louisville Recreation Center, Saturday, Nov 7th 2009, 10am-2pm. Please
bring proof of your Louisville residency to receive coupons, since this program is only for Louisville
residents. We have a limit of only 400 coupons, so don’t wait too long!
LED lights use an average of 90% less energy than mini-incandescent lights, and can use only .6% of the
energy draw of large incandescent bulbs (C9). So using LED holiday lights can significantly reduce the
amount of energy you have to pay for during the holiday season. And that can be helpful when you’re
trying to reduce your expenses, especially with all the other costs you have during the holidays.
The following chart compares the energy usage and operating cost of LED holiday lights to both mini and
large incandescent holiday lights in your home.
Now that the last snow has melted and uncovered your fall leaf collection, are you thinking of raking and disposing of them?
Perfect timing! See below:
| Leaf Collection 2009, November 2 - November 20 |  |
As a result of budget impacts, the City will no longer offer curbside pick ups or bagged leaf collection. However, the City has expanded its drop-off program to include new locations throughout town. You may drop your leaves at any of these locations.
If you are unable to take your leaves to the drop-off locations, you may utilize Western Disposal’s compost bins. Just toss your leaves into the compost bins and Western will take them away with the rest of your compost! As a reminder, please do not rake leaves into the street curbs or gutters. This activity may plug up storm sewer inlets and cause flooding.
Alternatively, you can learn about improving your soil by raking less. An article from Fine Gardening.
LEAF DROP-OFF LOCATIONS:
Please note: only leaves and grass clippings are accepted at the drop-off bins (no trash, branches, or plastic garbage bags).
Leaves may be dropped off at any of the designated sites from November 2 – November 20 (dates are approximate). The numbers below correspond with the numbers on the attached map.
If you use plastic bags to collect leaves for disposal at the drop-off sites, please empty the leaves into the bins and reuse the bags. This helps control the cost of the program, saves the cost of the bags, and keeps bags out of the landfill. The City will collect only compostable bags at the drop-off sites. Eco-Guard® compostable bags will be available at local area grocery and hardware stores. King Soopers “Biobag” brand is also acceptable. Do not leave trash, branches, or plastic garbage bags in drop-off sites. Your cooperation is greatly appreciated!
Last year, the leaf collection program produced over 2,000 yards of compost material when incorporated with biosolids at the Waste Water Treatment Facility. This material is available to residents for use as a soil amendment for lawn, gardens, and other landscaping needs. If you have any questions, please contact the Public Works Operations Division at 303-335-4750.
Thank you for making the program a success!
Here's a great opportunity to purge your old documents.
NORTHERN COLORADO CRIME STOPPERS SHRED-A-THON
08/29/2009
8:00 AM - 12:00 PM
You could be a victim of identity theft and not even know it!
Northern Colorado Crime Stoppers is trying to prevent you from becoming a victim through a free Document-Shredding Event. Saturday, August 29th, 8 am until noon. Hobby Lobby - King Soopers Shopping Center, highway 42 and South Boulder Road, Louisville.
Northern Colorado Crime Stoppers will be accepting donations at the event.
Sponsored by: Louisville and Lafayette Police Departments, Boulder County Sheriff's Department, Louisville, Lafayette and Superior Chambers of Commerce and APEX SHREDDING CO. OF BERHTOUD.
BRING - Old checks, bills, bank statements, credit card offers, medical records, tax forms, pay stubs, etc.
DO NOT BRING - Newspapers, phone books, magazines, junk mail, plastic, cardboard or catalogues.
5 COPY BOXES OR BAGS PER SMALL BUSINESS OR HOUSEHOLD (Exceptions, call Rob 303-666-6199).
Rob Kelly REALTOR®,CDPE
www.RobKellyColorado.com
www.DenverForeclosureTour.com
RE/MAX Alliance
225 South Boulder Road
Louisville, CO 80027
720-284-9211 Cell
Real Estate Associate broker, Investor, Landlord. Focused on serving home owners and investors in Louisville and Boulder/Denver Metro area. www.RobKellyColorado.com www.DenverForeclosureTour.com
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
