Solid Source Family First Realty

Sunday, December 28, 2008

THE GIFT THAT KEEPS ON GIVING

Some of you are in the process of making your 2009 New Year's Resolutions and most of you are feeling guilty for spending Gazillion of dollars on meaningless Christmas gifts for your loved ones. I am still trying to figure out why so many of us buy into the media frenzy of we must blow our budget for the year to celebrate one holiday, but we block out what the media is saying regarding intrerest. Interest rates are at an all time low in 5o years and most of you will not purchase not one piece of real estate that will cost less than renting a 2 bedroom apartment.

We had 17 families contract to purchase homes in the month of December. They made the choice to give the gift that keeps on giving. They decided to purchase a piece of legacy that can be passed down through many generations. What a glorious way to build family wealth, and what a joyous way to celebrate the Christmas holiday.

Some of you may be thinking how do I purchase a home or you might be saying to yourself, "my credit is shot and there is no way I can purchase." That is not true, check out the website; http://www.creditspruceup.com/ . This is your first step to get a true snap shot of what it will take to restore your credit. The Credit Education Services will enable you to take the necessary steps to restore your credit rating, and It's painless!

It is cheap in many ways to own a home. The money is cheap and home values has dropped. It has been reported that most area are experiencing up to a 30% decrease in value. This time listen to the Media, take their advice. BUY, BUY, BUY!!!!

The great John Paul Getty said, "If it appreciates, buy it. If it depreciates, lease it" Eventually the real estate market will bounce back. John Paul Getty is right real estate always finds itself appreciating. Don't make the choice to continue to pay for your landlords property by renting from him or her you can only appreciate his wealth. Most Christmas gifts you have bought this holiday season will fall into the depreciation category. Make a 2009 resolution to give the gift that keeps on giving. Give the precious gift of home ownership to yourself or your loved ones. I believe Real Estate is the safest purchase in America and it is the gift of LOVE.

The N-Sourcer
12/28/2009

Monday, December 22, 2008

Relief for Homeowners fromThe IRS

Yeah! finally relief from The IRS. They are in the spirt of giving and it is good news for Homeowners. I can't tell you how many homeowners Real Estate Agents can not help due to the tax liens the homeowner have on their real property. This is good news for homowners not only can the homeowners appeal to The IRS for subordination, refinance, short sell or restructuring their loan The IRS will work to speed the proceess due to the economic downturn in the market place. Good looking out for the Homeowners IRS it is greatly appreciated!

Stay Tuned
The N-Sourcer

Wednesday, December 17, 2008

The Values of Homes are Falling

Reports are revealing that the average Home values has fell two trillion dollars this year, and most likely it will continue to fall until 2011. My question to homeowners is will you cut your losses now and get out while you can or do you continue to hold on and take the wait and see approach.

My thoughts are it is the perfect time to purchase your dream home. The equity that you lose when selling your home; will see a realized gain on the buying side. Interest rates are at it's all time low and values are dropping. That sounds like a great recipe for purchasing your perfect dream home. I would suggest not to attempt this process without an Real Estate Agent. Hire a qualified Real Estate Agent to help you through this process of selling and/or purchasing your next home. The most valuable asset your Agent should have is excellent negotiating skills. You will definitely come out a winner in this great market.

In 2009 I will be revealing a unique selling process that can be used to buy or sell your home. You will receive the highest possible value for your home in minuets.

Stay Tuned!!
The N-Sourcer

Monday, December 8, 2008

"HOPE for Homeowners" Federal Mortgage Program

"News Clues"

Solid Source Family First Realty

Today's "News Clues" is about the "Hope for Homeowners" Federal Mortgage Program. Protect your client and your commission.

There was a program passed into law this summer for homeowners trying to renegotiate their mortgages named "HOPE for Homeowners," and nicknamed H4H. The intent is to keep owners from defaulting on their loans and going into foreclosure. If you are assisting with loan modification for a client, there are a few things you need to know about the H4H program.

Federal guidelines include:

The law requires participating lenders to agree to refinance and reduce a loan to 90% of the current apprasied value of the home. The new loan must be a 30 year fixed rate mortgage.

The Federal Government (FHA acts as an investment partner in the equity of the property for as long as the owner owns the home. When the house sells, the owner relinquishes or splits any equity in the home with FHA at closing, even if the H$H loan is no longer in force.

Refianacing or paying off the loan does not remove the requirement of the agreement to split the equity with FHA.

There is a sliding scale of the percentage due to FHA at closing, based on the length of the period of ownership after refinace. Less than one year after the refiance, FHA gets 100% of the equity at closing if the home sells. The precentage goes down approximately 10% per year thereafter, with a bottom split of 50% of the home's equity to FHA due at closing.

The holder of a H$h loan will never pay less than 50% of the home's equity at closing to FHA for as long as they own the home.

If the property mortgaged with a H4H loan increases in value after the refinance, the percentage due to FHA remains the same, and applies to the full amount of equity at closing.

Some costs will be considered a reduction of equity. The precentage split will nt apply to closing costs or the cost of improvements made during ownership. However, costs of matenace(roof replacement, painting, etc.) will not be expempt.

There is a much higher FHA Mortgage Insurance Premium (MIP) on this loan. There is a 3% up front MIP payment to obtain the laon, and a 1.5% annual premium is added to the monthly payments. The new premiums are much high than the previous MIP, which is 2.125% upfront fee and a .5% annual MIP.

There are many issues connected with the "HOPE for Homeowners" loan program. Your clients must ask themselves is it worth it. Please advise your clients to get all of the details in writing, and have it explained to them by their lender. They should also compare it with all other otpitons available to them. The equity split will take half of the owner's accumulated wealth in their home.

Stay Tuned

The N-Sourcer

Solid Source Family First Realty

Sunday, December 28, 2008

THE GIFT THAT KEEPS ON GIVING

Monday, December 22, 2008

Relief for Homeowners fromThe IRS

Wednesday, December 17, 2008

The Values of Homes are Falling

Monday, December 8, 2008

"HOPE for Homeowners" Federal Mortgage Program

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	Solid Source Family First Realty Sunday, December 28, 2008 THE GIFT THAT KEEPS ON GIVING Some of you are in the process of making your 2009 New Year's Resolutions and most of you are feeling guilty for spending Gazillion of dollars on meaningless Christmas gifts for your loved ones. I am still trying to figure out why so many of us buy into the media frenzy of we must blow our budget for the year to celebrate one holiday, but we block out what the media is saying regarding intrerest. Interest rates are at an all time low in 5o years and most of you will not purchase not one piece of real estate that will cost less than renting a 2 bedroom apartment. We had 17 families contract to purchase homes in the month of December. They made the choice to give the gift that keeps on giving. They decided to purchase a piece of legacy that can be passed down through many generations. What a glorious way to build family wealth, and what a joyous way to celebrate the Christmas holiday. Some of you may be thinking how do I purchase a home or you might be saying to yourself, "my credit is shot and there is no way I can purchase." That is not true, check out the website; http://www.creditspruceup.com/ . This is your first step to get a true snap shot of what it will take to restore your credit. The Credit Education Services will enable you to take the necessary steps to restore your credit rating, and It's painless! It is cheap in many ways to own a home. The money is cheap and home values has dropped. It has been reported that most area are experiencing up to a 30% decrease in value. This time listen to the Media, take their advice. BUY, BUY, BUY!!!! The great John Paul Getty said, "If it appreciates, buy it. If it depreciates, lease it" Eventually the real estate market will bounce back. John Paul Getty is right real estate always finds itself appreciating. Don't make the choice to continue to pay for your landlords property by renting from him or her you can only appreciate his wealth. Most Christmas gifts you have bought this holiday season will fall into the depreciation category. Make a 2009 resolution to give the gift that keeps on giving. Give the precious gift of home ownership to yourself or your loved ones. I believe Real Estate is the safest purchase in America and it is the gift of LOVE. The N-Sourcer 12/28/2009 posted by Solid Source Family First Realty at 11:18 AM 0 Comments Monday, December 22, 2008 Relief for Homeowners fromThe IRS Yeah! finally relief from The IRS. They are in the spirt of giving and it is good news for Homeowners. I can't tell you how many homeowners Real Estate Agents can not help due to the tax liens the homeowner have on their real property. This is good news for homowners not only can the homeowners appeal to The IRS for subordination, refinance, short sell or restructuring their loan The IRS will work to speed the proceess due to the economic downturn in the market place. Good looking out for the Homeowners IRS it is greatly appreciated! Stay Tuned The N-Sourcer posted by Solid Source Family First Realty at 5:56 AM 0 Comments Wednesday, December 17, 2008 The Values of Homes are Falling Reports are revealing that the average Home values has fell two trillion dollars this year, and most likely it will continue to fall until 2011. My question to homeowners is will you cut your losses now and get out while you can or do you continue to hold on and take the wait and see approach. My thoughts are it is the perfect time to purchase your dream home. The equity that you lose when selling your home; will see a realized gain on the buying side. Interest rates are at it's all time low and values are dropping. That sounds like a great recipe for purchasing your perfect dream home. I would suggest not to attempt this process without an Real Estate Agent. Hire a qualified Real Estate Agent to help you through this process of selling and/or purchasing your next home. The most valuable asset your Agent should have is excellent negotiating skills. You will definitely come out a winner in this great market. In 2009 I will be revealing a unique selling process that can be used to buy or sell your home. You will receive the highest possible value for your home in minuets. Stay Tuned!! The N-Sourcer posted by Solid Source Family First Realty at 6:52 AM 0 Comments Monday, December 8, 2008 "HOPE for Homeowners" Federal Mortgage Program "News Clues" Solid Source Family First Realty Today's "News Clues" is about the "Hope for Homeowners" Federal Mortgage Program. Protect your client and your commission. There was a program passed into law this summer for homeowners trying to renegotiate their mortgages named "HOPE for Homeowners," and nicknamed H4H. The intent is to keep owners from defaulting on their loans and going into foreclosure. If you are assisting with loan modification for a client, there are a few things you need to know about the H4H program. Federal guidelines include: The law requires participating lenders to agree to refinance and reduce a loan to 90% of the current apprasied value of the home. The new loan must be a 30 year fixed rate mortgage. The Federal Government (FHA acts as an investment partner in the equity of the property for as long as the owner owns the home. When the house sells, the owner relinquishes or splits any equity in the home with FHA at closing, even if the H$H loan is no longer in force. Refianacing or paying off the loan does not remove the requirement of the agreement to split the equity with FHA. There is a sliding scale of the percentage due to FHA at closing, based on the length of the period of ownership after refinace. Less than one year after the refiance, FHA gets 100% of the equity at closing if the home sells. The precentage goes down approximately 10% per year thereafter, with a bottom split of 50% of the home's equity to FHA due at closing. The holder of a H$h loan will never pay less than 50% of the home's equity at closing to FHA for as long as they own the home. If the property mortgaged with a H4H loan increases in value after the refinance, the percentage due to FHA remains the same, and applies to the full amount of equity at closing. Some costs will be considered a reduction of equity. The precentage split will nt apply to closing costs or the cost of improvements made during ownership. However, costs of matenace(roof replacement, painting, etc.) will not be expempt. There is a much higher FHA Mortgage Insurance Premium (MIP) on this loan. There is a 3% up front MIP payment to obtain the laon, and a 1.5% annual premium is added to the monthly payments. The new premiums are much high than the previous MIP, which is 2.125% upfront fee and a .5% annual MIP. There are many issues connected with the "HOPE for Homeowners" loan program. Your clients must ask themselves is it worth it. Please advise your clients to get all of the details in writing, and have it explained to them by their lender. They should also compare it with all other otpitons available to them. The equity split will take half of the owner's accumulated wealth in their home. Stay Tuned The N-Sourcer posted by Solid Source Family First Realty at 6:09 AM 0 Comments Previous Posts It is Time to Invest the 90 Day Flipping Rule is L... Mortgage Fraud Red Flags, Protect your license! R... How do you use what you have to get what you want?... The Resurrection Excited and Grateful !! Knowledge is Weak, However Applied Knowledge is a ... How has the state of the economy touched your life... Happy New Year! THE GIFT THAT KEEPS ON GIVING Relief for Homeowners fromThe IRS Archives March 2008 October 2008 December 2008 January 2009 March 2009 April 2009 November 2009 January 2010 Subscribe to Posts [Atom]