Monday, April 18, 2011

Fannie Mae Homepath Foreclosure BUYER INCENTIVE!!

It can pay off pretty big to be clued in to deals in real estate. For many of us, a house is the most expensive investment many of us will every make in our lives. So having someone that can really help you make a smart decision and ease the burden on your wallet can prove to be an invaluable resource. ESPECIALLY knowing that the vast majority of the time, buyer's don't pay their representation a cent. Whoa whoa whoa. What do I mean you say? Seller's agree to pay their listing agent a commission. The listing agent then offers a portion of that commission to a buyer's agent to bring and represent the buyer's side. Thus, the buyer's don't pay their agent anything. 

So, as a buyer you effectively are getting someone to help you locate the perfect home, schedule appointments to see them, handle contracts and other necessary documents, negotiate on your behalf, have referrals for appraisers, surveyors, inspectors, adhere to timelines, deliver monies, walk you through inspections, possibly re-negotiate, preparing amendments/addendums, make sure your financing is progressing along with regard to the deadline, review documents before closing, make sure closing goes smoothly, and after closing make sure you have a good referral for moving companies, flooring, handymen, painters, landscapers, and much more ALL FOR FREE!? In addition to providing advice on the scope of risk as an investment? If you are going to purchase a home and the representation is free, why would you not want someone who can assist in potentially maximizing the potential of one of the largest investments you will make in your life?

It's my duty to the people to inform the public of particular happenings in the market that could minimize the risk to their wallets. My website, serves as a moniker of the service I provide to the people of the Austin metro. At the end of a grand opera performance they throw roses, at a wedding celebration they throw rice, at a Detroit Red Wings game they throw octopus, but Chris Matthews throws SAVINGS!! 

Fannie Mae is offering up to 3.5% closing cost assistance for their REO Foreclosure Homepath properties. The incentive is offered in an effort to help more buyers afford their new homes. The incentive begins on April 11th 2011 and running through June 30th 2011. So in addition to getting a foreclosure-type deal on price, you also get the benefit of tremendous savings on closing costs. YAY! Search for Fannie Mae foreclosures at

Eligibility Details:
  •  Initial offers must be submitted on or after April 1, 2011
  • Buyers must be owner occupants (i.e. primary residence and will have to sign an Affidavit stating so that needs to accompany the initial offer)
  • The sale must close on or before June 30, 2011
  • Other restrictions apply.  For more information visit the "Special Offers" tab at

Monday, April 4, 2011

Advice! 10 No-No's While Trying To Get Approved For A Loan!

Many are taking advantage of interest rates at historic lows, either by re-structuring debt with a refinance or purchasing a new home. However, the recent economic crisis has ushered in some even tougher guidelines and credit requirements and there are some things that consumers must be aware of when applying for a loan.
Here is some advice on 10 things NOT to do leading up to a home purchase or under contract on a home to not harm your loan approval. It's best to just wait until after you've signed off at closing and the home is already yours.
1. Don't do anything that will cause a red flag to be raised by the scoring system
2. Don't apply for new credit of any kind
3. Don't pay off collections or charge offs
4. Don't max out or over charge on your credit card accounts
5. Don't consolidate your debt onto 1 or 2 credit cards
6. Don't close credit card accounts
7. Don't pay late
8. Don't allow any accounts to run past due-even one day!
9. Don't dispute anything on your credit report
10. Don't lose contact with your mortgage and real estate professionals