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Last Entry August 2008.
Shame on you home builders! They always say the 50K dollar incentives on their homes are tied to using their lender. They are rarely able to compete with the layering of programs that we put together however, and in this market with a little help from us they accept the buyers financing and will frequently accept much less than their initial asking price with an offer to the builder.
They are being outdone and will be outdone by my current favorite "value property" the bank repo. They are usually the lowest priced listings, flexible and can close quickly.
New Would you like a list of the lowest priced forclosure and preforclosure homes from the MLS? How about shopping auctioned home via the internet. Ask me how!
New MMAP grant program
I, Thor Mortz have recently been selected with a handful of larger mortgage banks to be a designated trainer and authorized user of the MMAP mortgage assistance grant. The grant requires a short financial management course and allows sellers to market their property to a greater cross section of buyers. The grant may be used with owner occupied residences and second homes and is in the form of monthly payment assistance (to buyers) in the amounts of 250.00, 500.00 and 1000.00 dollars per month over a 24 month period.
Sad News?
Seems like the news surrounding the mortgage and real estate business is overwhelmingly negative which usually is good for someone, right? Who?....Buyers?
Our position as a lender: Since we broker our loans we can pick and choose from all of the nations lending programs. Further we aren't burdened with having to buy back loans, the banking scourge in America. While many banks are saddled with buying back loans and indeed many have gone under. We maintain a list of hundreds of strong lenders that are still creating clever programs to help those in need of mortgages. As brokers we are required to disclose all fees (unlike a bank). We have the experience and creativity to be among the leaders in this credit tightened era. We can correctly say if we can't do it nobody can.
Examples & Testimonials
Fred started his five year lease option on a gorgeous 1.5 acre horse property with a small home near Roseville, CA. He's paying less than his rental payments were with low credit scores to boot. He gets to be reunited with his horses and renovate his future property.
Bonnie, owner of the same property gets her vacant property renovated, insured, yearly income increases, no hassles or maintenance issues, and the kicker: a future as is sale price which is much higher than she could get for the property today. ---These issues are done on a case by case basis and will only be arranged when everyone wins.
Kathryn-- a single parent in Sacramento who received 55,000 dollars in government programs, a below market rate first mortgage, which helped her to qualify for a gorgeous home with hardwood floors, a mother in law suite and a basement, payments under 1000/mo and more importantly a home for her children.
Tom, who was able to use an unconventional program to tap some equity from a probate purchase with no money down to pay off his bills ($35k) left over from a divorce which had prevented him from owning. Last time I checked Tom was working on a runway for model airplanes in is enormous back yard.
Credit Issues:
Once you have completed a loan application with us, we send you a free copy of your credit report and will gladly discuss with you the options you have to raise your credit rating. We also have:
a complimentary credit improvement DVD
We send those interested in credit repair to annualcreditreport.com where you may obtain a complimentary credit report from their site and dispute items directly to the bureaus.
Third party verification services: Our credit company can call to verify one or every tradeline on your report. Which can be a convenient option when cleaning up your credit or to verify to lenders that something has been misreported.
What if simulator: This allows you to find out how paying off or down particular items on your report will affect your score. It also shows how adding trade lines will affect your score.
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