hah...I was reading an article to the title subject matter in one of my RE magazine subscriptions. Did get a good laugh because evidently there is a Start of a New Era on a Wall Street Reform, picturing Obama Dodd and Frank. So the two Dodd-Frank that allowed the free wheeling lets make a deal in the mortgage industry before the trouble started are now the two sheriff's dedicated to preventing a re-occurrence and signed with the President a new Reform Act in July. Now stricter guidelines are in place preventing new homeowners from acquiring homes but has absolutely done nothing to kick out the fox that preyed on homebuyers..
The guidelines are there to oversee RESPA and misleading financial practices. Sure a few of the large institutions have gone under but on the whole the big banks are still there and are holding their own. This has nothing but restricted new homebuyer from acquiring and with such a glut of homes in the market do we really need stricter guidelines, guidelines that are directed towards homebuyers rather than financial institutions.
It's more like shifting the blame game away from the ones that are responsible. Prudence should always have been the name when approving future homeowners. Predatory lending was a practice that should have been stopped in the hay days of home buying and selling, but it was not the major cause for the slump.
Short-term memories and long-term promises.
Great location approx. 1200 sq. ft townhome. Two bedroom each bedroom with walk-in closet and it's own bathroom. Very nice hardwood entrance withcoat closet 1/2 bath downstairs. Large den with gas log fireplace, marble surround and a huge niche that would fit a flat screen TV perfectly. Spacious kitchen with pantry and eating bar in addition to a dinning area. The backyard is private location, premier location in complex, includes patio and storage room. Laundry with full size washing machine and dryer and storage cabinet.
$61000 list price, this is a "short sale" 3rd party approval required.
"Detached Townhouse"
• 1,400 sq. ft., 2 bath, 3 bdrm 2 story - 
MLS® $118,000 - "short sale"
Steele Meadows Townhomes, Regent Park - Terrific 3 bedroom 2 -1/2 bath detached townhouse with storage in the Fort Mill area near Regent Park. Sold as is, short sale has been approved. Bring all reasonable offers.
Property information
OPEN HOUSE ROCK HILL SC Looking for a well kept ranch in Rock Hill come join us today from2:00 PM to 4:00 PM. MLS 943697 or 2041 Franklin ...
Real Estate Central is looking for a buyer that can put in an offer for this georgous (3) tree story home by May 28th. Buyer must be prequalified, lender has approved $240,000. Approximately 4100 sq. ft., six (6) bedrooms plus bonus, three (3) full bath and 1 half. Huge family room, plus formal living room, dinning room. Home is gorgeous, already has had an inspection, report available. The last deal fell thru so it's back on the market. MLS # 918722.
Let's put this house under contract and take advantage of the "Homeowner Tax Credit" which in cases where there is a binding sales contract signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify, either for the up $8000 credit for 1st time home buyer or $6500 for the move up home buyer, provided you meet the guidelines.
Go to the Charlotte Area Home Search tab at www.barbarakeefauver.com to see more details.
Allocation caps have been determined in proportion to the number of people in these five states living in counties with high unemployment, resulting in the following allocation caps:
State Allocation Camp (millions)
North Carolina $159
Ohio $172
Oregon $88
Rhode Island $43
South Carolina $138
Unemployment Programs – Programs may provide for assistance to unemployed borrowers to help them avoid preventable foreclosures.
Mortgage Modifications – Programs may provide for modification of mortgage loans held by HFAs or other financial institutions or provide incentives for servicers/investors to modify loans.
Mortgage Modifications with Principal Forbearance – Programs may provide for paying down all or a portion of an overleveraged loan and taking back a note from the borrower for that amount in order to facilitate additional modifications.
Short Sales / Deeds-In-Lieu of Foreclosure – Programs may provide for assistance with short sales and deeds-in-lieu of foreclosure in order to prevent avoidable foreclosures.
Principal Reduction Programs for Borrowers with Severe Negative Equity – Programs may provide incentives for financial institutions to write-down a portion of unpaid principal balance for homeowners with severe negative equity.
Second Lien Reductions – Programs may provide incentives to reduce or modify second liens.
For programs designed to help individual homeowners, the target population should be limited to residences with unpaid principal balances equal to or less than the current government sponsored enterprise (GSE) conforming limit of up to $729,750. HFAs may target low and moderate income borrowers at their discretion consistent with that HFA’s state enabling legislation
Why wait to have a home built when you can have this one to move into within a month. This home is loaded with upgrades, from attractive harwood floors in foyer and kitchen to attractive granite countertop in kitchen, fenced-in yard with large deck. Enjoy your morning coffee in the spacious sunroom. This home was built by Ryan and it is the Rosemont plan, located on a premium lot with an attractive brick front elevation. Double car garage is extra deep, room enough for storage or work bench. $324,900 and approximately 3100 square feet.
5 bedrooms or 4 bedrooms and a bonus
Don't pass this one up, we are still waiting for hear back from bank, but put in your offer now if you have the time.
Beautiful model plan (Rosemont) home with many appointments like sunroom and bonus room. Storage abound and yard is welcoming with playset remaining and lower patio area off deck with enjoyable water fountain. Why wait to build when you can have this big ready to move in home for your family.
approx. 3100square feet home in SW area near Charlotte, but in South Carolina Fort Mill
5 bedroom optional or use as bonus room
with a warm and cozy Sunroom that is welcoming in all seasons
kitchen with 42" cabinets & very stylish granite counters, kitchen island and breakfast area
This is a short sale with approval priced for quick sale at $240,000. This 5 bedroom PLUS bonus or 6 bedroom home was purchased for over 400,000 in 2006. It is move in ready, lovingly taken care of.
Lucky family just put this one under contract.
New on the market, remodeled ranch with quick access to uptown area. This charming ranch has lots of
built-ins for storage and hardwood flooring. Cozy eating area and a kitchen with all the modern amenities, tall cabinets, large island and granite countertops. Three bedrooms, office 2 full bath. $149000
This one went quick. After only on the maket for less than a week, it went under contract and closed this week.
Currently we have several homes on the market were we have a potential short sale situation. First time home buyers here is a great opportunity for a great home selection. If you are interested as a homebuyer or investor please contact us, just remember that short sales will take longer than the normal time process.
Listed are three (3) examples, great location and amenities.
http://tinyurl.com/mp98fg
• 4,575 sq. ft., 4 bath, 5 bdrm 2 story "with Basement" - $449,000
Laurel Creek, Rock Hill - Georgeous 2-story brick home wooded area with view of the pond. Well maintained yard and property, side-load 2 car garage. Enjoy breakfast with a greatview. Large kitchen with silestone countertops, pantry and a beautiul breakfast area with a view of wooded area and pond. Wonderful deck for entertaining and relaxing. BASEMENT with 2 bedrooms full bath and a huge REC room.
Property information
A great article on the revised regulations of Wells Fargo concerning legitimate flipping of properties. Maybe other lenders will begin this commen sense lending practices, with so many distressed properties on the market
somethings need to give.
http://tinyurl.com/ydr9n8p
Within just the past couple of days the senate has reached an agreement on the 1st time homebuyer tax credit extension, so lets hope it will become public very soon. The homebuyer tax credit which is due to expire November 30th would be extended through April 30 of 2010. This would eleviate the stress for first-time buyers who are in the process of making a purchase and now would not need to worry about qualifying for the up to $8,000 credit if they close after the November 30 deadline.
The $8,000 maximum first-time homebuyer credit will continue but the income limit has been increased so a max of up to $225,000. Included are homeowners that would be move-up homeowners who have lived in their current residence for five years could also receive a credit.
According to the new agreement move-up buyers can claim this credit of up to $6500 if the home they are vacating is their primary residence for at least five years, but the money cannot be used to buy a vacation home. “It’s only for a primary residence."
Hopefully we will hear more details about this shortly. On the same note the program in recent weeks has come under fire because of abuse and legislation provisions has been added to the bill to address fraud. Like any good program to help the good folks along there are always those out there ready to cheat and defeat a good purpose.
It's been reported that "The Internal Revenue Service is given greater authority to oversee the process to root out fraud, and provisions are added in response to past abuses of false sales or underage buyers. An investigation by the Treasury Department’s Inspector General for Tax Administration found that more than 580 children, some as young as four years old, had received $627,000 in first-time homebuyer credits. The IRS has identified 167 suspected criminal schemes and opened nearly 107,000 examinations of potential civil violations of the first-time homebuyer tax credit."