4-28-2011: This delay in foreclosure action is expected to slow the foreclosure process on existing distressed homes, thereby prolonging the economic recovery and putting continued downward pressure on housing prices.
Basically, due to lack of thorough attorney review, Robo signatures, and lack of good accounting to track true ownership of properties that have been foreclosed, many lenders (including Wells Fargo, Bank of America, Chase, and others) have stopped the foreclosure process. Some people have gone as far as suing the lender, even though they haven't made a payment in months or years.
In Florida, the average number of days it takes to foreclose is 573 (as opposed to 423 days in 2009). Nationwide, the number of day is 478 (v. 361 in 2009).
The immediate results is mass confusion and delaying the inevitable. If people could afford to pay the monthly payments, they would. Since they can't pay, they face foreclosure from the lender who has ownership of the property a secured by the property (i.e., your lender who owns the mortgage note). But what if the lender who is collecting your mortgage payment doesn't own the mortgage note?
Another result in delaying the inevitable foreclosure process will be to slow down the rate of foreclosure sales. Once the vast majority of foreclosures are sold, home prices should become stabilized and have room to grow. To keep the stream of foreclosures steady, through these delays, then the "cleansing" process never has a chance to eliminate the backlog of foreclosures and falling home prices.
http://www.examiner.com/real-estate-in-st-petersburg/the-latest-action-and-inaction-on-foreclosure-fraud
http://www.examiner.com/real-estate-in-st-petersburg/real-estate-investors-beware
http://www.examiner.com/real-estate-in-st-petersburg/real-estate-investors-beware
10-6-10: I saw in today's WSJ that the loan servicing arms of the major lenders are holding up foreclosures - which doesn't make sense for the servicer since they need to continue to send payments to investors - unless there's good reason - that makes no sense now unless someone is challenging the legitimacy of ownership and threatens a lawsuit.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Thursday, April 28, 2011
Thursday, April 21, 2011
Prompt Decision for Qualification for Short Sale Act (HR 6311)
This House Resolution (i.e., bill) (was originally introduced in 2010) has been reintroduced in the 112th Congress. The legislation proposes to amend the Truth in Lending Act and provide for "automatic approval of short sale proposal (i.e., package that include an Executed Purchase and Sale Contact between Buyer(s) and Homeowner(s)) if more than 45 days had expired "after" the loan servicer receives the package and doesn't render a decision. This is designed to improve the process for approving short sales of real estate and would prevent extended delays (sometimes over 6 months).
Since short sales now range from 10-15% of all real estate transactions, and show no signs of disappearing anytime soon, this legislation has some traction.
Time will tell if this legislation gets any traction, but based lobbying efforts by the lenders and the legal profession and on recent changes in the law (especially the SAFE Act) that prohibit Real Estate Agents from negotiating short sales with lenders, I wouldn't hold my breath.
The Act amends the Truth in Lending Act to consider approved a mortgagor's written request to a mortgage loan servicer for a short sale of a dwelling or residential real property if the mortgagor has not received, within 45 days after the servicer's receipt of the request, a written notification of whether the request has been approved, specified changes are required, that such request has been approved subject to specified changes, or that additional information is required for such a determination, such request shall be considered to have been approved by the servicer.
Here's an excerpt from the Bill: "(a) Requirement- Except as provided in subsection (b) and notwithstanding any other provision of law or of any contract, including a contract between a servicer of a residential mortgage loan and a securitization vehicle or other investment vehicle, if the mortgagor under a residential mortgage loan submits to the servicer of the mortgage loan a written request for a short sale of the dwelling or residential real property that is subject to the mortgage, deed or trust, or other security interest that secures the mortgage loan, and all information required by the servicer in connection with such a request (including a copy of an executed contract between the owner of the dwelling or property and the prospective buyer that is subject to approval by the servicer), and the mortgagor does not receive from the servicer, before the expiration of the 45-day period beginning upon receipt by the servicer of such request and information, a written notification of whether such request has been approved, that such request has been approved subject to specified changes, or that additional information is required for such a determination, such request shall be considered to have been approved by the servicer."
Note of caution: Since many loan servicers have repeatedly told borrowers they have not received paperwork and had to resubmit pills of paperwork, or another form or updated forms, then when will the loan servicer actually technically "receive" all "required" information?
Prompt Decision for Qualification for Short Sale Act (HR 6311)
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Since short sales now range from 10-15% of all real estate transactions, and show no signs of disappearing anytime soon, this legislation has some traction.
Time will tell if this legislation gets any traction, but based lobbying efforts by the lenders and the legal profession and on recent changes in the law (especially the SAFE Act) that prohibit Real Estate Agents from negotiating short sales with lenders, I wouldn't hold my breath.
The Act amends the Truth in Lending Act to consider approved a mortgagor's written request to a mortgage loan servicer for a short sale of a dwelling or residential real property if the mortgagor has not received, within 45 days after the servicer's receipt of the request, a written notification of whether the request has been approved, specified changes are required, that such request has been approved subject to specified changes, or that additional information is required for such a determination, such request shall be considered to have been approved by the servicer.
Here's an excerpt from the Bill: "(a) Requirement- Except as provided in subsection (b) and notwithstanding any other provision of law or of any contract, including a contract between a servicer of a residential mortgage loan and a securitization vehicle or other investment vehicle, if the mortgagor under a residential mortgage loan submits to the servicer of the mortgage loan a written request for a short sale of the dwelling or residential real property that is subject to the mortgage, deed or trust, or other security interest that secures the mortgage loan, and all information required by the servicer in connection with such a request (including a copy of an executed contract between the owner of the dwelling or property and the prospective buyer that is subject to approval by the servicer), and the mortgagor does not receive from the servicer, before the expiration of the 45-day period beginning upon receipt by the servicer of such request and information, a written notification of whether such request has been approved, that such request has been approved subject to specified changes, or that additional information is required for such a determination, such request shall be considered to have been approved by the servicer."
Note of caution: Since many loan servicers have repeatedly told borrowers they have not received paperwork and had to resubmit pills of paperwork, or another form or updated forms, then when will the loan servicer actually technically "receive" all "required" information?
Prompt Decision for Qualification for Short Sale Act (HR 6311)
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Tuesday, April 19, 2011
Financial System Breakdown & Foreclosure Blame - who gets what? Wall Street & Regulators
Plenty of blame to go around including high risk lending, regulatory failures, inflated credit ratings, and investment bank abuses.
2-22-2012: Bloomberg objects to blaming the US Government housing policies as the "major" cause of mortgage crisis. The greatest blame apparently goes to wall street. Source: http://www.cjr.org/the_audit/bloomberg_takes_on_the_big_lie.php
The recent US Senate report on what caused the financial system meltdown has arrived and there is plenty of blame to go around. My main question:
The official title of the US Senate Investigative Committee Report is
WALL STREET AND THE FINANCIAL CRISIS: Anatomy of a Financial Collapse
MAJORITY AND MINORITY STAFF REPORT - PERMANENT SUBCOMMITTEE ON INVESTIGATIONS
Get it here:
http://www.levin.senate.gov/imo/media/doc/supporting/2011/PSI_WallStreetCrisis_041311.pdf
Note: Once you read this 650 page report, dive into Atlas Shrugged by Ayn Rand - that's a good read too.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
2-22-2012: Bloomberg objects to blaming the US Government housing policies as the "major" cause of mortgage crisis. The greatest blame apparently goes to wall street. Source: http://www.cjr.org/the_audit/bloomberg_takes_on_the_big_lie.php
The recent US Senate report on what caused the financial system meltdown has arrived and there is plenty of blame to go around. My main question:
Who will wind up paying for the mistakes beside the taxpayer and common US resident, regardless if employed or not.
The official title of the US Senate Investigative Committee Report is
WALL STREET AND THE FINANCIAL CRISIS: Anatomy of a Financial Collapse
MAJORITY AND MINORITY STAFF REPORT - PERMANENT SUBCOMMITTEE ON INVESTIGATIONS
Get it here:
http://www.levin.senate.gov/imo/media/doc/supporting/2011/PSI_WallStreetCrisis_041311.pdf
Note: Once you read this 650 page report, dive into Atlas Shrugged by Ayn Rand - that's a good read too.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Monday, April 18, 2011
Appraisal News
This blog post will be updated with other appraisal related news from time to time.
2-23-2012: Sellers are now getting pre listing appraisals to see what the appraiser may think the house is worth and then compare the results with their listing agent so the home isn't underpriced.
Source: http://www.prweb.com/releases/2011/11/prweb8969795.htm
2-20-2012: Gone are the days of banks telling appraisers "what price they need to hit", or are they? Higher costs for appraisals - appraisal management companies owned by some banks - and unfamiliar appraisers evaluating property values - all part of the attempt by US Government for more "fairness", to be more transparent and less influential by banks? Right! Source: http://seattletimes.nwsource.com/html/realestate/2017336010_harney29.html
2-19-2012: As of September 2011 report, about 1/3 of all appraisals weren't hitting their sales price - what's happening today? Source: http://www.smartmoney.com/spend/real-estate/how-appraisals-are-derailing-home-sales-1320357466034/
1-20-2012: Appraisers must use foreclosures/distressed sales at times when warranted to value properties and hold their allegiance to lenders and protect their investment - not the Sellers' or Buyers' interests. Source: http://realtormag.realtor.org/daily-news/2012/01/20/appraisers-dont-blame-us
9-10-11: Besides these suggested ways to fight a low appraisal (if you get that far into a deal), you can offer the seller (reluctant to drop his price) to pay for an appraisal, from an appraiser acceptable to the lender, to show that their price is too high, especially if it's been on the market a while and nobody has bid on it. The seller, in this case not a bank, sometimes needs a 3rd party to compare recent sales. I've done it and it makes the process a little smoother. Source: http://rismedia.com/2011-09-07/five-ways-to-fight-a-low-appraisal/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Rismedia+%28RISMedia+Real+Estate+News%29
9-5-2011: Ways to fight your appraisal are listed in this article, but would you really want to buy a house that is priced higher than the appraisal value? Unless your crystal ball is working properly, you might reconsider. Source: http://www.upi.com/Business_News/Real-Estate/2011/09/05/Five-Ways-to-Fight-a-Low-Appraisal/9321315243322/
9-1-2011: New appraisal guidelines for new conventional loans (i.e., those purchased by Fannie Mae and Freddie Mac) will require special codes for appraisers; property conditions will be rated on a scale of 1 to 6; and more detailed interior/exterior information from real estate agents about the property. These and other changes became effective today, September 1, 2011. Source: http://www.boston.com/realestate/news/articles/2011/09/01/changes_in_home_appraisals_raise_concerns/
8-26-2011: Appraisals are still coming in below purchase prices. This causes additional sluggishness in market, but it is what it is...at least depending on the subjectivity of each appraiser. I'm not sure of the percentage of homes in the Atlanta area that have come in below appraisal, but I do know of several homes purchased that were never appraised, but sold for cash. Prices were so low, investors felt confident in value. Source: http://www.homebuyinginstitute.com/news/appraisal-below-purchase-178/
6-19-2011: Apparently all the rules for commercial property appraisals are loose, and dependent on lenders demands for comparables, when trying to reach a appraisal value mainly due to lack of sufficient recent sales and comparables - some appraisers are going back years (which 3-6 months prior sales are typical on Residential real estate). But commercial real estate is a whole new animal than residential! Source: http://www.startribune.com/business/124099969.html
One interesting article on attack on appraiser income => http://www.bostonherald.com/business/real_estate/view/20110417lenders_still_making_big_money_on_home_appraisals/srvc=home&position=recent%20
Another interesting story about the appraisal industry => http://ezinearticles.com/?Who-Owns-the-Appraisal-Management-Companies?&id=3727433
I understand since the advent of the Home Valuation Code of Conduct (HVCC), deigned to correct abuses of large banks "influencing" the outcomes of appraisals by making them go through Appraisal Management Companies, and it subsequent "corrections" that appraisers may still be busy, but they are not getting paid for their work in many cases.
And to top it all off, some big US banks may also own these warehousing firms they can use for their appraisals - can you say "conflict of interest" or "screw HVCC"?
Now there are some unscrupulous lender and appraiser that try to force a deal to happen, just a there are appraisers who are not familiar with the specific, limited geographic market of houses - each one resulting in bad decisions - accepting bad loans o rejecting good ones.
See my blogpost on Electronic Appraisals too => http://abirenews.blogspot.com/2011/02/electronic-house-appraisals.html
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
2-23-2012: Sellers are now getting pre listing appraisals to see what the appraiser may think the house is worth and then compare the results with their listing agent so the home isn't underpriced.
Source: http://www.prweb.com/releases/2011/11/prweb8969795.htm
2-20-2012: Gone are the days of banks telling appraisers "what price they need to hit", or are they? Higher costs for appraisals - appraisal management companies owned by some banks - and unfamiliar appraisers evaluating property values - all part of the attempt by US Government for more "fairness", to be more transparent and less influential by banks? Right! Source: http://seattletimes.nwsource.com/html/realestate/2017336010_harney29.html
2-19-2012: As of September 2011 report, about 1/3 of all appraisals weren't hitting their sales price - what's happening today? Source: http://www.smartmoney.com/spend/real-estate/how-appraisals-are-derailing-home-sales-1320357466034/
1-20-2012: Appraisers must use foreclosures/distressed sales at times when warranted to value properties and hold their allegiance to lenders and protect their investment - not the Sellers' or Buyers' interests. Source: http://realtormag.realtor.org/daily-news/2012/01/20/appraisers-dont-blame-us
9-10-11: Besides these suggested ways to fight a low appraisal (if you get that far into a deal), you can offer the seller (reluctant to drop his price) to pay for an appraisal, from an appraiser acceptable to the lender, to show that their price is too high, especially if it's been on the market a while and nobody has bid on it. The seller, in this case not a bank, sometimes needs a 3rd party to compare recent sales. I've done it and it makes the process a little smoother. Source: http://rismedia.com/2011-09-07/five-ways-to-fight-a-low-appraisal/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Rismedia+%28RISMedia+Real+Estate+News%29
9-5-2011: Ways to fight your appraisal are listed in this article, but would you really want to buy a house that is priced higher than the appraisal value? Unless your crystal ball is working properly, you might reconsider. Source: http://www.upi.com/Business_News/Real-Estate/2011/09/05/Five-Ways-to-Fight-a-Low-Appraisal/9321315243322/
9-1-2011: New appraisal guidelines for new conventional loans (i.e., those purchased by Fannie Mae and Freddie Mac) will require special codes for appraisers; property conditions will be rated on a scale of 1 to 6; and more detailed interior/exterior information from real estate agents about the property. These and other changes became effective today, September 1, 2011. Source: http://www.boston.com/realestate/news/articles/2011/09/01/changes_in_home_appraisals_raise_concerns/
8-26-2011: Appraisals are still coming in below purchase prices. This causes additional sluggishness in market, but it is what it is...at least depending on the subjectivity of each appraiser. I'm not sure of the percentage of homes in the Atlanta area that have come in below appraisal, but I do know of several homes purchased that were never appraised, but sold for cash. Prices were so low, investors felt confident in value. Source: http://www.homebuyinginstitute.com/news/appraisal-below-purchase-178/
6-19-2011: Apparently all the rules for commercial property appraisals are loose, and dependent on lenders demands for comparables, when trying to reach a appraisal value mainly due to lack of sufficient recent sales and comparables - some appraisers are going back years (which 3-6 months prior sales are typical on Residential real estate). But commercial real estate is a whole new animal than residential! Source: http://www.startribune.com/business/124099969.html
4-18-2011: Hey, what's going on in the world of home appraisers? Does the mortgage mafia have a contract out on them? Are they being squeezed out by real estate agents performing Broker Price Opinions (BPOs) (http://www.startribune.com/business/118548204.html) or the lending institutions either using more "electronic appraisals" (see my blogpost link at bottom) or due to large banks owning a controlling interest in Appraisal Management Companies (AMCs)?
One interesting article on attack on appraiser income => http://www.bostonherald.com/business/real_estate/view/20110417lenders_still_making_big_money_on_home_appraisals/srvc=home&position=recent%20
Another interesting story about the appraisal industry => http://ezinearticles.com/?Who-Owns-the-Appraisal-Management-Companies?&id=3727433
I understand since the advent of the Home Valuation Code of Conduct (HVCC), deigned to correct abuses of large banks "influencing" the outcomes of appraisals by making them go through Appraisal Management Companies, and it subsequent "corrections" that appraisers may still be busy, but they are not getting paid for their work in many cases.
And to top it all off, some big US banks may also own these warehousing firms they can use for their appraisals - can you say "conflict of interest" or "screw HVCC"?
Now there are some unscrupulous lender and appraiser that try to force a deal to happen, just a there are appraisers who are not familiar with the specific, limited geographic market of houses - each one resulting in bad decisions - accepting bad loans o rejecting good ones.
See my blogpost on Electronic Appraisals too => http://abirenews.blogspot.com/2011/02/electronic-house-appraisals.html
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Friday, April 15, 2011
Tax Credit for retrofits for energy improvements
Commercial buildings now account for 20% of the energy used in US.
President Obama would like to see energy efficiency of commercial buildings improved by 20% by 2020 and has called on Congress to propose tax deduction for commercial building upgrade/improvements and wants the Department of Energy to guarantee loans for the energy efficiency upgrades at commercial properties, schools and hospitals...
Building Owners and Managers Association (BOMA) has challenged its members to reduce energy consumption 30% by 2030.
So we are back again at old familiar territory - allowing the federal government to dictate what is and isn't an energy efficient improvement and how much companies receive in tax credits or eventual funding credits. And the production of new energy including oil production and nuclear energy remains dormant until the next person realizes the futility of the 1970's approach to energy efficiency didn't work either.
Source: Atlanta Business Chronicle, 2/11-17/2011, Page 18A.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
President Obama would like to see energy efficiency of commercial buildings improved by 20% by 2020 and has called on Congress to propose tax deduction for commercial building upgrade/improvements and wants the Department of Energy to guarantee loans for the energy efficiency upgrades at commercial properties, schools and hospitals...
Building Owners and Managers Association (BOMA) has challenged its members to reduce energy consumption 30% by 2030.
So we are back again at old familiar territory - allowing the federal government to dictate what is and isn't an energy efficient improvement and how much companies receive in tax credits or eventual funding credits. And the production of new energy including oil production and nuclear energy remains dormant until the next person realizes the futility of the 1970's approach to energy efficiency didn't work either.
Source: Atlanta Business Chronicle, 2/11-17/2011, Page 18A.
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Thursday, April 14, 2011
Summech CDC (SCDC) Provides Affordable Housing to Quaified Home Buyers
Provides comprehensive counseling and affordable housing in Atlanta metro area (where some residents earn less than 80% of the Area Median Income).
SCDC is a non-profit community-driven housing development organization founded in 1989, whose mission is to provide affordable housing to promote home ownership and to encourage economic development in the Mechanicsville community in the City of Atlanta. SCDC housing counseling services are targeted to potential home buyers throughout the City of Atlanta, which includes Fulton County, and a small portion of Dekalb County. SCDC provides opportunities through several programs including:
Paving the Way, Fill in the Gaps and the Youth Economic Empowerment Program. Paving the Way is the agency‟s housing counseling program that provides home buyer education, financial literacy, pre-purchase, delinquency/default, and non-delinquency post-purchase counseling. During Fiscal Year 2009, Summech served 214 clients.
Summech is one of the Founding Partners of the Metro Atlanta Community Development Corporation (MACDC) and has collaborated with the Atlanta Housing Authority (AHA) to develop low cost housing.
SUMMECH is a Community Housing Development Organization (CHDO) with the City of Atlanta and the State of Georgia.
Website: http://www.summechcdc.com/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
SCDC is a non-profit community-driven housing development organization founded in 1989, whose mission is to provide affordable housing to promote home ownership and to encourage economic development in the Mechanicsville community in the City of Atlanta. SCDC housing counseling services are targeted to potential home buyers throughout the City of Atlanta, which includes Fulton County, and a small portion of Dekalb County. SCDC provides opportunities through several programs including:
Paving the Way, Fill in the Gaps and the Youth Economic Empowerment Program. Paving the Way is the agency‟s housing counseling program that provides home buyer education, financial literacy, pre-purchase, delinquency/default, and non-delinquency post-purchase counseling. During Fiscal Year 2009, Summech served 214 clients.
Summech is one of the Founding Partners of the Metro Atlanta Community Development Corporation (MACDC) and has collaborated with the Atlanta Housing Authority (AHA) to develop low cost housing.
SUMMECH is a Community Housing Development Organization (CHDO) with the City of Atlanta and the State of Georgia.
Website: http://www.summechcdc.com/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Wednesday, April 13, 2011
HomeSafe Georgia - "free" loans to help Georgia Homeowners in trouble?
HomeSafe Georgia will provide "bridge" mortgage assistance (from the US Treasury's Hardest Hit Fund) to unemployed Georgians or those who have seen a dramatic decrease in their income due to national economic conditions.
Sounds like they will make you a "one-time" temporary short term (bridge) 0% loan for up to 18 months that is forgiven at a rate of 20% each year for 5 years to allow you to pay any back mortgage payments.
Website for help: https://www.homesafegeorgia.com/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Sounds like they will make you a "one-time" temporary short term (bridge) 0% loan for up to 18 months that is forgiven at a rate of 20% each year for 5 years to allow you to pay any back mortgage payments.
Website for help: https://www.homesafegeorgia.com/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Tuesday, April 12, 2011
Report on Subprime Mortgages by US Senate
The Senate Permanent Subcommittee on Investigations is to release a report soon on securities firms who bet for and against subprime mortgages by creating Collateralized debt obligations (CDOs) (i.e., investment baked by pool of mortgage bonds) of subprime loans and selling them as stellar investments (with the help of the top 3 US rating agencies) to some and to others saying they were "crap" and betting against them --- all the while making fees on both sides of the coin.
One such "investment vehicle" (i.e., like the pinto-explosive).
The humor (if you can call it that) to all this is that everyone who conceived and carried out this sham on the investment world are probably still living and employed in the investment world.
I would categorize the investment community two ways - dumb and dumber!
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
One such "investment vehicle" (i.e., like the pinto-explosive).
The humor (if you can call it that) to all this is that everyone who conceived and carried out this sham on the investment world are probably still living and employed in the investment world.
I would categorize the investment community two ways - dumb and dumber!
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Monday, April 11, 2011
So what did the Democrats do in 111th Congress?
According to a summary in the Wall Street Journal, the following bills were passed in the 111th Congress ending 1-20-2011:
- Health Care
- Economic Stimulus
- Wall Street Regulations
- Lilly Ledbetter Fair Pay Act
- Credit Cards
- Tobacco Regulations
- 2 Supreme Court Confirmations
- Cash for Clunkers
- Don't Ask, Don't Tell
- Tax Deal
- Food Safety
- Nuclear Arms Treaty
- 9-11 First Responders
Wednesday, April 6, 2011
Average Homeownership Expenses Homeowners need to Consider
I was asked by a prospective homeowner...'In addition to my mortgage payment, what expenses do I expect to have when I purchase a home?'
With the costs of home ownership in mind, I drafted a simple spreadsheet of basic household expenses to provide homeowners. This may help some first time home buyers put the "real costs" of home ownership into perspective.
Spreadsheet of some household related expenses @ www.abuyeragent.com/Home-Costs.htm
Let me know your thoughts of these and other expenses I need to include in this list:
Rent v. buy information @ http://www.nytimes.com/interactive/business/buy-rent-calculator.html
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
With the costs of home ownership in mind, I drafted a simple spreadsheet of basic household expenses to provide homeowners. This may help some first time home buyers put the "real costs" of home ownership into perspective.
Spreadsheet of some household related expenses @ www.abuyeragent.com/Home-Costs.htm
Let me know your thoughts of these and other expenses I need to include in this list:
Rent v. buy information @ http://www.nytimes.com/interactive/business/buy-rent-calculator.html
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Tuesday, April 5, 2011
Georgia Department of Community Affairs – Georgia Housing Finance Authority
Georgia Department of Community Affairs – Georgia Housing Finance Authority provides comprehensive counseling for Housing needs)
The Georgia Department of Community Affairs (DCA), created in 1977 to serve as an advocate for local governments, merged with the Georgia Housing and Finance Authority (GHFA) and the in 1996. Today, the DCA operates a host of state and federal grant programs; serves as the state‟s lead agency in housing finance and development; promulgates building codes to be adopted by local governments; provides comprehensive planning, technical and research assistance to local governments; and serves as the lead agency for the state‟s solid waste reduction efforts. In Fiscal Year 2009, GHFA provided comprehensive housing counseling services to about 4,200 Georgia clients and through its network of housing counseling agencies, funded and served 14,374 clients.
Website: http://www.dca.state.ga.us/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
The Georgia Department of Community Affairs (DCA), created in 1977 to serve as an advocate for local governments, merged with the Georgia Housing and Finance Authority (GHFA) and the in 1996. Today, the DCA operates a host of state and federal grant programs; serves as the state‟s lead agency in housing finance and development; promulgates building codes to be adopted by local governments; provides comprehensive planning, technical and research assistance to local governments; and serves as the lead agency for the state‟s solid waste reduction efforts. In Fiscal Year 2009, GHFA provided comprehensive housing counseling services to about 4,200 Georgia clients and through its network of housing counseling agencies, funded and served 14,374 clients.
Website: http://www.dca.state.ga.us/
References to products and services are not a specific endorsement, but the user must perform their due diligence and investigate whether the product or service is right for them. I welcome any or all comments that would help others.
Subscribe to:
Posts (Atom)