Yes, there is a home buying program which provides a 50% discount off the list price .... through  HUD's "GOOD NEIGHBOR NEXT DOOR" program. This is available to  law enforcement officers,  teachers,  firefighters,  and emergency medical technicians who meet the requirements of the program.  This is not a new program, it is meant to revitalize and strengthen our communities.  HUD homes usually need some repairs and the good news is, the FHA 203k mortgage may be used to repair and/or renovate the property.  The 203k loan repair costs and the mortgage are combined into a single payment.  The initial 50% discount is a "silent second" mortgage for the entire 36 month required occupancy period, which starts when the owner-occupant moves into the home.  Lots of details, however, I am a Certified 203k Specialist , I assist buyers understand renovation loans and I work with lenders specializing in 203k loans.  The HUD website has a list of homes for sale, and I can help you find the one you have been waiting for ... dream homes can be a reality with these programs in today's market.  The sale of existing single family homes in Florida rose in December, up 4% from December 2009 ,according to housing data released by Florida Realtors®. Everyone is waiting for a turn around in the housing market, with these discounts and programs, you can't afford to wait any longer. Call me today 727-692-8685, for a complimentary and confidential consultation to see if you qualify.

 

There has never been a better time to find affordable homes to add to your rental inventory, you can pick your price range.  Being curious about the deals that are out there, I did a search for homes under $20,000 in Pinellas county, I found 30.  Some needed more TLC than others, some were in need of total renovation, and there are similar properties in other counties as well.  The bank owned real estate is at bargain rates because they do not want to keep them in their inventory any longer. If you have always dreamed of being your own boss by owning lots of rental properties, now is the time. Those homeowners that have lost their properties to foreclosure will need a place to live, many will want to rent a home because apartment living no longer meets their needs.  And what about a beach front condo ? to use for fun weekends or out of town guests ?  The prices are great and there are lots of choices.  Then there is the country living,  if you are looking for a place to have a few horses or even a small farm, lots of trees, or a weekend getaway, there are numerous properties with acreage in Northern Pasco and other northern counties, worth the time to take a look. Just bring your boots, something I forgot to do during a recent farmland tour!   In any case, if you have a "dream" , give me a call and let's talk about how to make it a reality. 

The Florida Supreme Court issued an Administrative Order on December 28, 2009 which "provided for each judicial circuit to create a residential mortgage foreclosure mediation" program. This mandated mediation program, allows the borrower/homeowner and the lender to  take advantage of an opportunity to discuss loan modification or other settlement options, such as a short sale or deed-in-lieu; and gives the homeowner assistance in obtaining a mediation date. Two program managers were selected for this area, foreclosures filed after July 1, 2010 in Pinellas & Pasco counties will receive notice from Mediation Managers, Inc. (MMI) Those homeowners in Hillsborough county will receive notice from the Hillsborough County Bar Association. This mediation program has been reported in local newspapers, however, many homeowners in a financially distressed situation may not have seen the article in the newspaper and can be confused by numerous letters and offers received in their mailbox daily. Homeowners will be required to submit financial documents and attend financial counseling. www.mediationmanagersinc.com  for those in Pinellas & Pasco counties, the MMI web site offers answers to many frequently asked questions, phone and email contact information, as well as a complete explanation of the program.  Those in Hillsborough will find program details on www.hillsbar.com  by clicking on 'residential mortgage foreclosure program'. Please be sure to give this information to any friends or family members facing this financial hardship and possible loss of their homes ... they will appreciate the assistance you have offered. And I am also available to answer questions and provide phone numbers, etc. for these programs.

' Underwater ', in this context, refers to homeowners who owe more on their mortgage than their home is worth.  Earlier this month, the U.S. Department of Housing and Urban Development, known as HUD, provided details on a new program that will enable lenders to provide special re-financing options for certain ' underwater ' non-FHA borrowers who are experiencing financial hardships. The current lender must agree to write-off at least ten percent (10%) of the unpaid prinicipal balance of the first mortgage, related to declining properties values in their area.  Set to start September 7, 2010 ...  FHA Short Refinance ... offers a way to overcome negative equity problems when hoping to refinance, and be given the opportunity to qualify for a new FHA-insured mortgage. In order to be eligible for this refinance option, the homeowner must owe more on their mortgage than their home is worth, and MUST be current on payments for the existing mortgage;  homeowner "must qualify for the new loan under standard FHA underwriting requirements, and a credit score equal to or greater than 500."  Information on the qualifications can be found on the HUD web site www.hud.gov  This program was originally announced in March.  Please review the specific details on the HUD website to see if you may qualify, then contact your loan servicer to ask if they participate in this program and how you can apply.

"Fixer-Uppers"  can be a scary phrase, prompting the question: Is this home going to break me? I have visited many "As-Is" properties during the past few months, bank owned properties and/or short sales. Some homes are in need of only minor repairs & appliances, and yes, there are others with missing windows, doors & AC units.  These homes can become a "Dream Home" with Renovation Financing, better known as the 203k loan.  This type of loan allows a buyer to finance the purchase of a home AND finance many repairs, whether it be minor items such as painting, carpet, tile, lighting fixtures,  etc. or major improvements such as updating a kitchen or bath, new roofs, pool repairs, and more. Some repairs may be required and others may be desired. As a member of Re-buildUSA, and a Certified 203k Specialist, I am here to guide you through this process. Both Investors and Owner-Occupants may qualify for this type of loan.  Home prices are lower now than they have been in years, now is the time to take advantage of the distressed property market.  Interest rates are also at an exceptionally low level. Call me @ 727-692-8685 to find out how to qualify for this loan and then let's start looking at the "Fixer-Uppers" and the "As-Is" properties with vision of the "Dream Home"  instead of fear of the unknown.  Once you find the home with a floor plan to fit your lifestyle, let's talk about how "You Want It To Be" and start the process on paper ... It will be fun !