Phoenix Bank Owned, Fannie Mae properties roll out HomePath Buyer Incentives

June 25, 2011 By

Fannie Mae Rolls Out HomePath Buyer Incentives

Fantastic HomePath buyer incentives for eligible Fannie Mae home buyers has just rolled out for the summer.  The quick summary: if all conditions are met, owner occupant buyers can receive closing cost assistance of up to 3.5% of the final sales price from Fannie Mae with the latest HomePath buyer incentives.

HomePath Buyer Incentives Help HomePath Property Buyers Pay for Closing Costs

The HomePath buyer incentives will provide HomePath property buyers the ability to spend some of that hard-earned cash on decorating, fixing their place up or just bank it for future needs instead of on their closing costs.  You can search for Fannie Mae homes at www.HomePath.com or you can search the MLS here for available HomePath properties.  I’ve included a recent article from RIS Media about the HomePath buyer incentives below…

HomePath Buyer Incentives

Fannie Mae Expands HomePath Buyer Incentives

RISMEDIA, Thursday, June 16, 2011 Fannie Mae (FNMA/OTC) announced the expansion of incentives to encourage sales of HomePath REO properties to owner occupants. Now through October 31, qualified buyers and selling agents can receive financial incentives on sales of HomePath properties, which can be found at www.homepath.com. The incentives are part of Fannie Mae’s commitment to neighborhood stabilization, and are available on sales to buyers who will reside in the home as their primary residence.

Supporting homeownership and stabilizing neighborhoods are critical to helping the housing market recover, saya Ed Neill, Senior Vice President for Credit Loss Management at Fannie Mae. Our previous incentives have been effective in securing owner occupants for these properties. By encouraging homebuyers who will make these properties their long-term home, these expanded incentives will help to stabilize communities.

The expanded incentives offer qualified homebuyers up to 3.5 percent of the final sales price to put towards closing costs. The incentive must be requested in the initial offer. Eligible initial offers must be submitted after June 14, 2011 and must close by October 31, 2011. Investor sales are not eligible for the incentive.

HomePath properties offer buyers a wide selection of options, including single-family homes, condominiums, and town houses. HomePath properties may also be eligible for HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

In addition to the HomePath buyer incentives, a $1,200 bonus is available for selling agents in eligible transactions.  The HomePath buyer incentives bonus is available if the initial offer is submitted on or after June 14, 2011 and the sale is closed by Oct. 31, 2011.

The stars are in alignment – HomePath buyer incentives are available  AND rates and prices are down – a perfect opportunity to pick up an outstanding value and the perfect home.  So get out there and find yourself a great HomePath property.

Homepath Buyer Incentives Terms and Conditions

  • Buyers and/or selling agents (the agent representing the buyer) must request the HomePath buyer incentive upon submission of initial offer.
  • Initial HomePath Buyer Incentive offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
  • Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
  • Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
  • Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
  • Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
  • Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
  • Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
  • Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
  • Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.

NOTE: this incentive will be identified on the purchase contract, and must close by October 31, 2011 to receive the incentive from Fannie Mae.

If you’re in the market for a great home, I’d encourage you to utilize one of our HomeStyle Team buyer agents who are well versed in the HomePath Buyer incentives and specialize in HomePath properties.

Filed Under: Chandler Homes, Credit, First Time Home Buyers, Gilbert Homes, Mesa homes for sale, Mesa real estate, Phoenix Bank Owned, Phoenix Housing Market, Primary Feature, Search Arizona Foreclosures, Tempe Homes Tagged With: , , , , , , , , , , , , , , , , , , , , , , ,

Credit Report Repair: Ways to Get rid of the Negative from your Credit Report

January 31, 2011 By

Is it already the nth time that you simply have been declined for a loan? You may have not been borrowing from banks or maxing up your credit cards for the past few years and yet you still end up becoming disapproved on your loan. This may be the time for you personally to check your credit reports. Most credit reports, even from the 3 credit report bureaus, are plagued with a number of errors and inaccuracies. It’s your suitable to question and dispute something on these credit reports for those who locate items which are erroneous or incomplete. A credit report repair is also one basic step which can enable you to raise your credit score and enhance your standing.

There is no charge in requesting any of the three credit bureaus to investigate an inaccurate item on the report. The bottom line to this credit report repair is that if the credit report bureaus cannot prove the veracity of that information from the collection agency who reported such, then they are obliged to remove that entry from the credit report.

Just remember that if the original creditor has not notified you of any negative information that they have included on your credit report, then they are in violation of the Fair Credit Reporting Act. After that negative entry has been removed, this shouldimprove your credit score in time.

How do you get your credit report within the very first place? Credit reports are especially essential since this is exactly where your credit scores are based on. Your mission for credit report repair begins with obtaining the report from the three bureaus, namely Equifax, TransUnion and Experian. You may request for the report by calling 1-877-322-8228 or visit the Federal Trade Commission’s web-site, (http://www.ftc.gov/freereports ) for the actions in finding your absolutely free annual credit report.

Just a tip, do not click on to some internet sites that advertise on finding the credit report for you personally for a fee. There is a massive chance that they not legitimate. Right after all these, always maintain track of your correspondence. It’s also superior in case you send your papers as well as other pertinent documents as registered mail.

Many find themselves wanting credit report repair for a credit score of 700+, but don’t know what is necessary to achieve this goal. Disputing negative items on your credit report can be the first step to How to repair bad credit. For more information on legal and efficient ways to repair credit,.

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Starting a Family? Provide Stability with Family Budget Software.

January 31, 2011 By

Starting a family is a dream for many people, but realistically it can also be one of the most emotionally and financially draining expeditions that any couple ever has to take and while it’s worth it for many, being aware of these early challenges will give individuals a much better ability to tackle them successfully. Emotionally, people must deal with many psychological effects that come from raising kids. Not the least of these includes losing sleep, the need for patience while raising and teaching children, and many other emotional drains. While many parents are somewhat prepared, or at least aware of the emotional challenges, they aren’t as aware of the financial challenges that come with children. A whole slew of unexpected expenses comes along from healthcare to diapers, baby formula, doctor’s appointments, clothes, and many others. To get through these financial tribulations it is very important to have a solid budget to prepare for both expected and unexpected expenses. If you’re in this type of situation, you cannot afford to be without a family budget software program.

So how exactly does one create a budget? There are many ways, but the best, fastest, and easiest way to make a budget is to buy a good family budget software program. A large number of families fail to make a budget simply because they feel that the concept of budgeting is too hard, however, this could be further from the truth with good software. Creating a budget is literally as simple as entering in your projected expenses and income, and letting the software do the rest.

Typically, these applications include tools to help you visualize your income relative to your expenses. Are you earning more than you’re spending? How quickly will it be until you reach your saving goals? These are questions that are much easier to answer after you enter your data into a good application, and the results are much easier to understand than using a typical spreadsheet!

Family budget software can also sometimes help to make recommendations on how to achieve short-term or long-term financial goals in addition to pointing out potential areas of excess over-spending. Some goals that can be programmed in include: having a six month “rainy day fund”, saving for a family vacation, retirement savings, and so forth. Budgeting software helps lay out everything in crystal clear terms so that you can understand these goals in a tangible sense. Each situation is going to be different, so although it usually is helpful to pay down debt first, there might be some situations where you should save extra income instead.

You will have to deal with these on a case by case basis to know for sure, but a good family budget software will help you to not only make the right decisions on a situation by situation basis but also to think in a more budget friendly manner when looking at future situations. The particular program that we recommend will help to train you, not only in creation of the budget, but in maintaining it when financial problems arise.

Looking at the big picture, it’s easy to see why you would need to use family budget software, whether you’re just starting a family or already have children and are struggling to make ends meet. Navigating your finances successfully is difficult during the best of times, but when a family is growing and economic times are uncertain then it becomes even more important to get these numbers in order. Good decisions mean your entire family prospers, but bad decisions also hurt your entire family. Even if you are doing well, time will fly before expenses like cars, college tuitions, and weddings come up. So don’t waste time, find good family budgeting software today.

Most individuals hate the idea of preparing a household budget and usually don’t know how to get started. A financial counselor and tax accountant, Gust Lenglet, has many years of experience in this field and will give you some Free tips on how to begin. On his website he will show you just how easy it is with the right budgeting software

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Getting the Most Out of Your Cash Back Credit Card

January 30, 2011 By

As most people already know, we’re living in an age in which credit has become an absolute necessity when it comes to managing our budgets and consolidating our monthly expenses. As a result, the business of providing credit is becoming more and more competitive. Most credit companies know that it’s no longer enough to simply offer consumers the convenience of using credit. Today’s credit users expect something a little extra to make selecting one program over another worth it and what would be more “worth it” than getting cashback from your credit provider every month simply for using your credit card the way you normally do anyway? However, as is the case with every type of card, getting the most out of a cashback credit card requires prudence and care on the part of the consumer. By following a few simple guidelines, you can effectively make your credit company pay you just for using their services.

Don’t spend just for the sake of racking up cash rewards.

The best way to get the most out of your cashback rewards credit card is to think of the cash rewards you’re earning as a “thank you” from the credit provider for using your card the way you normally do. Don’t make the common mistake of seeing the rewards as an acceptable excuse to overspend or abuse your credit. You’ll quickly find yourself to be the proud owner of a sky-high credit balance that you’re likely not able to stay on top of and any rewards that you do earn will quickly be eaten up by interest on the money owed.

Pay your balance off in full every month.

To get the absolute most out of your cashback card, you should make it a point to always pay your balance off in full at the end of each billing cycle. That way you will never have to pay any interest and are effectively making money you wouldn’t have otherwise by using your cashback rewards card. Avoid the temptation of using your credit to live beyond your means the way many people do. Instead, try to use it as a handy tool to consolidate your monthly bills and organize your expenses. This is a simple and effective way to maximize the rewards you earn without actually giving yourself any additional debt to fret about.

Know your credit terms of use inside out.

Each cash back rewards credit card is different when it comes to the terms, rules, and limits that get attached to the consumer’s use of it. Does your cashback program feature a limit or cap on the dollar amount of rewards you can earn per month or year? Are you eligible to earn your rewards at higher rates for certain types of purchases – gasoline or groceries, for example? It is your job to know the answers to these and any similar questions if you really want to get the most out of your card.

When it comes right down to it, making the decision to fill out a cash back credit card application is just like every other important choice in life. The key to getting the best possible results lies in making smart decisions, being informed, and being responsible at all times.

Apply for cash back credit cards to start earning cash back. Or if you prefer to travel, apply for an airline credit card.

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What Option Is Better For Me? Credit Card Consolidation Vs Debt Settlement Services

January 30, 2011 By

Filing bankruptcy is not a better solution to credit card debts. There are many other best bankruptcy alternatives that can help people in regaining the financial freedom without hurting the credit scores. Debt settlement and credit counseling are the two best bankruptcy alternatives.

Although people get relief through filing bankruptcy in a short time but it’s bad after effects are of long term. For many years, a person feels himself as financially paralyzed. For this reason, legitimate bankruptcy alternatives like credit counseling and debt settlement can save people from worst financial crisis.

If some one has only two cards then there is no need for the consolidation. It is only advisable if some body has a debt of more than two cards.

Consolidation is not a permanent relief, it is temporary. No doubt the credit card companies have been paid, from there you have a relief, but you have brought yourself a new loan which is still to be paid.

Debt settlement provides elimination in the debts up to 50% or even more. For getting a successful deal, a person has to hire a professional well-seasoned attorney. These people charge their fees for providing settlement services but it will increase your chances of getting more elimination.

Training and education about credit management is provided in credit counseling. This option does not provide any reduction in debts as settlement does. A person who wants to save his credit history and wants to pay his debts without any elimination and reduction should try this best bankruptcy alternative. In this program, different workshops and lectures are offered to people.

Mostly these counseling programs are run by the government and non-government agencies. Military agencies are also providing counseling services. As millions of people are buried under the stacks of debt, many organizations offer counseling free of cost.

This is because if all these people will go for filing bankruptcy then credit card business will ruined in a few years. There were millions of bankruptcy filings that were filed in the year 2010. This number is increasing day by day.

Harris Smith is a personal finance writer interested in home equity line of credit Don’t Miss Out!

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