Wednesday, July 06, 2011

EHLP - Homeowner Assistance through HUD

In June, HUD launched a new grant program that offers homeowners who are behind on their mortgage payment a 2 year interest free loan of up to $50,000. There are 1 billion in funds to be used for this program: Emergency Homeowners' Loan Program.

Elegibility screening will begin on June 20th and run through July 22, 2011.

More information can be found at, search Emergency Homeowners' Loan Program

Thursday, June 30, 2011


608,615 homeowners received permanent modifications under the Making Home Affordable Program. Another 843,479 started but dropped out. The program was intended to help about 3-4 million homeowners and is scheduled to run until 6/30/2011.

Friday, March 18, 2011

Flat Fee MLS Advantage

Many flat fee service providers allow the seller to advertise as a For Sale By Owner (FSBO) by using their sign and contact information in the yard.

Another significant advantage to Flat Fee is most service providers stipulate that if the seller finds his own buyer without the use of a buyer's agent, then the buyer's agent commission is eliminated, and the seller owes no agent a commission.

Other advantages for the seller may include the option to cancel the listing at anytime without penalty and relist with another service provider or full service agent, effectively eliminating any "minimum length of service" (the listing period) typically required by full service agents.

During the housing slump in some states starting in 2007, a new interest in flat fee listing services to help gain a price advantage has occurred. By reducing the listing agent cost, property sellers have been able to reduce their price below their neighbors', thus increasing the chance of making the sale. Also, in some cases sellers may avoid the need to make a short sale.

For more information on our flat listing fee program, go to or call anytime, 1-877-270-FSBO

Thursday, November 18, 2010

Tidbits about mortgage and facts

Mortgage rates have been pressured higher the last few days but remain in the low 4’s for well-qualified borrowers.

The Fed’s goal with QE 2 (round two of quantitative easing) is to create inflation and avoid a deflationary spiral. Inflation is bad for long term securities like bonds and mortgage backed securities because it makes the bond you hold now worth less in the future. Who wants to hold a 3.5% T-Bill when you can get one paying 4.5% in a few months maybe? Inflation fears were also stoked by some recent economic reports that were better than expected. Greenspan is also voicing fears about our enormous deficits and our need to control it or risk a Greece-like crisis.

Some tidbits to share with you:
An estimated 35% of the 816,251 homes seized by lenders this year were investment properties or vacation homes.

There were 5 unemployed Americans for every 1 job opening as of 9/30/10.

Revolving credit (which includes credit cards) fell for the 25th straight month in September 2010. It has fallen 16% from its 2008 peak.

In the last 3 years, the price of oil has swung from a high of $147.27 per barrel to a low of $33.87. Last Friday it was at $84.88.

The U.S. import more than twice as much oil from Canada in August 2010 as it did from Saudi Arabia – 77 vs. 35 million barrels.

The S&P 500 is up 9.4% YTD as of 11/12/10.

Tucson Arizona October Statistics are out

Click here to view...

Tuesday, July 13, 2010

Home Affordable Modifications - Do you qualify?

Do you qualify for a loan modification with your lender. Please visit the Federal Gov site and take their questionnaire. Follow their instructions on finding out more about modifying your loan. Banks have become more aggressive on making this program available for homeowners. If you are behind on your payments, don't wait to call, as the banks give precedence over those who are behind.

Wednesday, May 05, 2010

First Time Homebuyer-Military

For Members of the Military
Members of the Armed Forces and certain federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and still qualify for the credit. An eligible taxpayer must buy or enter into a binding contract to buy a home by April 30, 2011, and settle on the purchase by June 30, 2011.
For more details on the credit, visit the First-Time Homebuyer Credit page on