Chris Varoga

BUY A HOME IN GILBERT 2 YEARS AFTER HAVING A SHORT SALE

NEW! FREE Arizona Personal, Password Protected Buyers Homefinder website at: www.azhomestore.com Look for the get a listingbook account and just fill in info and hit submit. You will be emailed your user name and password so you can set up your own search website just like Realtors have!!!!!

Since there are so many people in the unfortunate situation of having to either sell their home

via short sale, died in lieu or have had their home foreclosed on, I thought I would give an update

that it is possible to buy a home in Gilbert 2 years after having a Short sale.

Once again, the requirements and waiting periods for a Buyer to qualify for a new home loan after

a short sale have changed. Fannie Mae changed the waiting period for the ability to obtain a new

home loan after a short sale or deed in lieu of foreclosure from 4 years to 2 years.

 
I have included the  change announcement from Fannie Mae is below:

"To support overall market stability and reinforce the importance of borrowers working with their

servicers when they have difficulty repaying their debt, Fannie Mae is updating several policies

regarding the future eligibility of borrowers to obtain a new mortgage loan after experiencing a

preforeclosure event (preforeclosure sale, short sale, or deed-in-lieu of foreclosure).

The "waiting period" - the amount of time that must elapse after the preforeclosure event - is changing

and may be dependent on the LTV ratio for the transaction and whether extenuating circumstances

contributed to the borrower's financial hardship (for example, loss of employment)."

 

As you can see, there are some restrictions and caveats after the loss of a home, but you can

buy a home in Gilbert 2 years after having a Short sale. Of course, in addition the borrower must have

re-built their credit after the short sale and shown a general good credit history. 
 
We now sit a few years into the housing downturn and you or someone you know may already be 2 years

past a short sale or will be shortly. If you are wondering if you can buy a home in Gilbert 2 years after

having a Short sale please give me a call and I will get you in touch with a Lending professional that can

assess your individual situation to see if you can own a home at these cheap prices.

I recorded a brief video to show you who I am and how I work:

FHA, Fannie Mae, and Freddie Mac in Gilbert - Loan changes are on there way!

I recently attended a Real Estate seminar with like minded successful Real estate agents

to get the up to date information on the Wall Street Reform and Consumer Protection Act

AKA the Dodd Frank Bill in regards to FHA, Fannie Mae, and Freddie Mac in Gilbert and our

surrounding area. Here are a few of the proposed requirements for High Quality private loans.

 

1. Loan will have to have full documentation.
2. Fico score of 690 or higher
3. No current lates
4. No 60 day lates within last 2 years
5. No collections within last 3 years
6. 3% caps on Lender points and fees
7. No Prepayment penalties
8. Limits on Ballons and arms
9. Has to be a Primary Residance
10. 28%/36% Debt to Income Ratios
11. 20% down Payment for purchase

FHA, Fannie Mae, and Freddie Mac in Gilbert are going to be about your only choices for buying

a home unless you have served in the Military or want to buy a home further out to qualify for USDA.

They are talking on having a final vote by the end of 2011 and it will go into effect within a year.

 

Loan limits are due to be adjusted as well and home prices have fallen dramatically, so if you are

on the fence about buying, now is the time to contact me... I am always available at

480-899-2284 if you would like some professional Real Estate advice! You can always visit me at

www.azhomestore.com Don't let the Government restraints make you feel like you are in jail and can't buy a home!

 

Here is a Video interview so you can see who I am and what my Vision is:

NEW! FREE Arizona Personal, Password Protected Buyers Homefinder website at: www.azhomestore.com Look for the get a listingbook account and just fill in info and hit submit. You will be emailed your user name and password so you can set up your own search website just like Realtors have!!!!!

Real Estate in Gilbert Guide to Gilbert interview with Bill Rabold of Waterstone Mortgage.

This is the first in my series of video interviews of preferred business partners of mine

in and around the Gilbert area. If you are looking for an awesome Mortgage Company

and Loan officer, then I recommend that you give Bill Rabold of Waterstone Mortgage a call.

Waterstone Mortgage is conveniently located at Val Vista/Baseline behind Nandos restaurant.

Waterstone Mortgage and Bill also do credit repair so if you need a little help getting your score

up to qualifying give him a call at 480-635-3052.

NEW! FREE Arizona Personal, Password Protected Buyers Homefinder website at: www.azhomestore.com Look for the get a listingbook account and just fill in info and hit submit. You will be emailed your user name and password so you can set up your own search website just like Realtors have!!!!!

Metro Phoenix AZ MLS Home Sales Data from Your GILBERT REALTOR

Great February MLS Home Sale activity stats - Hope you enjoy this :)

P.S. - This is a PDF document directly from Arizona Regional MLS so it is safe to open....

MLS Home Stats Link - Click Here

Call me at 480-9899-2884 if you have any questions or would like my help!

NEW! FREE Arizona Personal, Password Protected Buyers Homefinder website at: www.azhomestore.com Look for the get a listingbook account and just fill in info and hit submit. You will be emailed your user name and password so you can set up your own search website just like Realtors have!!!!!

Update from Bill Rabold from Waterstone Mortgage Corporation talking about current market affairs.

Why The Mortgage Mess via Bill Rabold

P.S. - If link doesn't work just copy into your browser....

NEW! FREE Arizona Personal, Password Protected Buyers Homefinder website at: www.azhomestore.com Look for the get a listingbook account and just fill in info and hit submit. You will be emailed your user name and password so you can set up your own search website just like Realtors have!!!!!