Underwater? HARP 2.0 Refinance Program Can Help Atlanta Homeowner’s with No Equity Atlanta, GA (Jan. 2012) – Atlanta has been hit hard by the housing market collapse. Outside of Florida, our market has taken the biggest hit in the southeast. Nashville has shown declines, Birmingham has their issues, but Atlanta has seen 30% decreases in [...]
Obama’s Home Affordable 2.0 Refinance Program HARP 2.0 Plan Set to Help Underwater Homeowners in Georgia If you are a current homeowner with a FHA, VA, or USDA loan then you can stop reading. HARP 2.0 applies only to conventional, Fannie Mae and Freddie Mac financing. If you have a Conventional loan then read on [...]
FHA Loan Limits – Georgia The U.S. Congress on Thursday approved a bill to raise the maximum size of mortgages the Federal Housing Administration can insure and sent it to President Barack Obama to sign into law. The measure would push the so-called FHA conforming loan limit in the highest-priced real estate markets back up [...]
Are your walls closing in? Are you looking for an escape? Many homeowners are in your shoes, desperately seeking an alternative to foreclosure. What these Atlanta homeowners may not realize is that there may be a solution, an escape a way out without getting your name in the paper. What is that solution? How can you avoid foreclosure? What about a little known government backed program that allows you to SHORT SALE you house without facing the 1099 for the loss at the end of the year. That program is called HAFA – short for Home Affordable Foreclosure Alternative.
I’ve written a lot about FHA 203K loans. I’ve dug into the details of contractor selection,the draw process, choosing a property, using renovation financing to go greenand the differences between the home improvement loan products currently on the market, but it has been a long time since I laid out the basics of the 203K process and 203K [...]
Savvy home buyers understand you don’t walk into a perfectly renovated home and get a fantastic deal. The smart Atlanta home buyer understands you should focus your search on potential and you should understand loan products that allow you to unleash it. Why pay an investor 20%+ in profit to renovate a home for you when you can do it yourself with your own finishes and your own design? FHA 203K & HomeStyle Renovation loans WORK!
Renovating a home is not a one man job, you need to build a TEAM. How do you build a winning team? Unless you have lots of cash you’ll need to start with financing. Financing green renovation projects requires special loan products, like FHA 203K and Fannie Mae Homestyle used in conjunction with an Energy Efficient Mortgages (EEM). Not all lenders offer these products and even fewer have the skill, expertise and connections to pull it off. When it comes to choosing a lender you need to do your research. There are questions that you need to ask and that they need to be able to answer without pause. If they can’t answer them you need to keep looking. It doesn’t matter how great your Realtor, Architect, or Contractor are if you can’t get the financing to complete your project. Your lender is your quarterback, you need a Payton Manning not a Rex Grossman.
With the our housing stock aging, new construction inventories dwindling and the suburban flight back to urban America the need for renovation and home improvement loans has increased dramatically in recent years.
What if there were a new economic engine for the United States that would put our people back to work without putting the government deeper in debt? What if that economic engine also improved our international competitiveness, reduced greenhouse gases, and made the American people healthier?
How can renovation loans help Atlanta?
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