Adorable ranch on almost an acre! Rocking chair front porch. This home has a new stove, new bathroom tile and has been freshly painted. Great school district.  Priced at $115,000.  Call us today for more details at 770-606-0054.

Important Changes to Mortgage Underwriting

RisMedia just published this blog post regarding important mortgage underwriting changes that could affect many buyers.  Mainly, buyers need to be aware that lenders will re-pull their credit scores, pay stubs, validate social security numbers and verify intent to occupy just before closing.  It is imperitive that potential buyers be honest and up front with their information with the initial application and not make any major purchases or do anything that would affect their credit scores or job status before closing.  If lenders find potential buyers have mis-represented their situation in any way they can potentially be charged with fraud.  Read on for more details

New Listing: 38 Centerport Drive White, GA 30184 *Short Sale*

This is a cupcake home!  This stunning, traditional home is loaded with lovely upgrades on every level.  Expansive open kitchen, vaulted dramatic family room and master on the main.  The basement offers a huge den, 2 playrooms, office and so much storage.  38 Centerport is listed at $165,000. 

Please call us at 770-606-0054 to speak to a team member for more details!

Big Names in Real Estate are Investing

Tax Credit Closing Deadline Extended

For first time home buyers who got a contract on a home by April 30, they were supposed to close by June 30 to ensure they received the tax credit.  However, due to 180,000 loans in banks’ and lenders’ pipeline trying to be closed by that date, many worried their loan would not be finalized in time.  To help be sure these home buyers get their credit, the Senate just passed a measure that extends the closing date from June 30 to September 30, 2010.  This should allow banks and lenders the time they need to close these outstanding loans.

For those of you who were worried you wouldn’t make the June 30 deadline, now you can rest easy knowing the extension is in your favor and should allow banks and lenders the time they need to close your loan!

• Closing Costs
• The purchase of new Whirlpool^®  appliances
• A mix of closing costs and appliances at the buyer’s discretion up to the maximum 3.5%

• Property sale must close on or before June 30, 2010
• Buyer must be an owner-occupant (second homes are eligible as long as they are owner-occupied)–investors are excluded

What is HAFA?  Check out this video that explains HAFA, Short Sales and Deeds-in-Lieu.

As a Certified Distressed Property Expert (CDPE) I can help you determine if this is the path for you.  Give me a call today at 770-606-0054 or check out www.avoidbankforeclosurenow.com for more details on distressed properties.

USDA Funding Shortfall May Lead to Changes

For many looking to purchase a home, the government’s USDA program (100% financing) is the preferred option.  However the money for the program is falling short.

 Because of the funding shortfall, the USDA program is receiving additional scrutiny because of its  no downpayment provision and 2% guarantee fee.  For example, we hear that Congress is considering raising the guarantee fee from 2% to 3.5%.  We will keep you apprised of the progress of any legislation.

Post Contributed by Shane Siniard with WR Starkey Mortgage