FNMA guidelines for buying a home after you have been through a short sale

July 13, 2010

Homeowners often call me to and ask, “how do I stop foreclosure?”  The first thing I usually ask is, “do you know if your loan is owned by fannie mae?”  There is no one proven way to stop foreclosure.  The process varies from state to state and from lender to lender.  However, this is not [...]

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City of Chandler says No Plastic Bags in the Recycle Bin

July 10, 2010

Like many cities in Arizona, the Chandler recycling program does not accept plastic bags.  Recyclables are supposed to be left loose, so there is no reason for any trash bags to be in the recycle bin. Why doesn’t Chandler recycle plastic bags? Plastic bags can contain contaminates. There is no local market for the bags. [...]

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Considering Composting?

July 10, 2010

Some companies are bringing composting products indoors. A stainless steel counter top canister is currently on the market to hold left over food until it is transferred to the compost. For homeowners that wish to keep the composting process entirely indoors there are alternatives. The Bokashi method is as simple as using a cheap bucket [...]

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Will My Lender Sue Me For the Deficiency after Foreclosure?

July 10, 2010

Arizona is a non-recourse mortgage state. Borrowers are not held personally liable for more than the value of the home when a loan is not repaid. The lender may recoup some of its loss through foreclosure. However, the lender may not sue the borrower for additional funds if the foreclosure sale does not satisfy the [...]

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Selling my home short of what I owe when I have 2 mortgages

July 10, 2010

The only way to hold a short sale to stop foreclosure on your property is if both the primary lender and the HELOC lender or second lien holder agree. In addition to the money recouped by the sale you may be required to pay a certain amount to both lenders in order for the account [...]

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5 Options To Consider When Your Mortgage is Upside Down

July 3, 2010

  This post covers five options for homeowners faced with an upside down mortgage. I will cover more ways to avoid foreclosure at a later date. Allow the foreclosure to take place Request a Deed-in-Lieu Bring the loan current/out of default  Workout an affordable payment with your lender Trial loan modification – HAMP  Home Affordable Modification Program [...]

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What to do if I miss a house payment

July 1, 2010

What do I do when I miss a mortgage payment? 1. Call for help—it’s the most important thing you can do. Don’t make a bad situation worse. Ignoring your situation won’t make it go away. Notify the bank as soon as you know your payment will be late. Calling when you are 30 or 60 [...]

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When Can I purchase A Home Again After Foreclosure?

July 1, 2010

  Please note that the following are FNMA guidelines. How long is the time period after a foreclosure before a consumer can be eligible to obtain credit to purchase a home? Five years from the date the foreclosure sale was completed. Additional requirements that apply after 5 years and up to 7 years following the [...]

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Would you like to get paid for replacing your A/C?

July 1, 2010

Why not paid for your eco-friendly homes.  Going green does not have to be a life altering decision.  If you want to Go Green it’s as easy as replacing your air conditioning unit.  Your local electric company may more to offer than you think for making your home more eco-friendly. When you replace your heat [...]

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How Do I Make My House Payment More Affordable

June 27, 2010

HOME AFFORDABLE MODIFICATION PROGRAM Who is eligible? 1. Borrower is delinquent or faces imminent risk of default 2. Property is borrower’s primary residence (may have moved for job) 3. Pre 2009 loan origination 4. Unpaid principal is no greater than $729,750 5. Payment exceeds 31% of gross income Mortgage payment is adjusted to 31% of [...]

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The Queen of HUD
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Realty One Group
4041 S. McClintock Rd Ste 310
Tempe, AZ 85282


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