Leslie Wilson – Realtor

If you can’t afford your mortgage payment and it’s time for you to transition to more affordable housing, the Home Affordable Foreclosure Alternatives (HAFA) program is designed for you. HAFA provides two options for transitioning out of your mortgage: a short sale or a Deed-in-lieu (DIL) of foreclosure. In a short sale, the mortgage company lets you sell your house for an amount that falls “short” of the amount you still owe. In a DIL, the mortgage company lets you give the title back, transfer… Continue Reading Home Affordable Foreclosure Alternatives (HAFA) Program

1. What does your inspection cover?

The inspector should ensure that their inspection and inspection report will meet all applicable requirements in your state if applicable and will comply with a well-recognized standard of practice and code of ethics. You should be able to request and see a copy of these items ahead of time and ask any questions you may have. If there are any areas you want to make sure are inspected, be sure to identify them upfront. … Continue Reading Ten Important Questions to Ask Your Home Inspector

There’s a common saying in the real estate industry regarding the vast number of agents in the business: “If you don’t have any friends who are agents, then you probably don’t have any friends at all.”

With so many agent out there, how can you make an intelligent decision? Do you choose a friend, neighbor or coworker? Should you work with an agent at a large firm, a small firm, a franchise or an independent?

While there’s an exception to every rule, and e… Continue Reading Choosing your Real Estate Agent

The Obama Administration has implemented a number of programs to assist homeowners who are at risk of foreclosure and otherwise struggling with their monthly mortgage payments. The majority of these programs are administered through the U.S. Treasury Department and HUD. This page provides a summary of these various programs. Please continue reading in order to determine which program can best assist you.

Distressed homeowners are encouraged to … Continue Reading Avoiding Foreclosure

Before approving a loan, the lender analyzes the integrity of the borrower’s past credit performance. Based on FHA requirements, those who have a good credit history demonstrated by a solid track record of timely payments will likely be eligible for a loan. Potential borrower’s whose credit history is marred by slow payments, poor financial judgement and delinquent accounts is not a good candidate for a loan approval. The follow is a list of items covering the borrower’s credit:

No cr… Continue Reading FHA Requirements: Credit Guidelines

In order to prevent homeowners from getting into a home they cannot afford, FHA requirements and guidelines have been set in place requiring borrowers and/or their spouse to qualify according to set debt to income ratios. These rations are used to calculate whether or not the potential borrower is in a financial position that would allow them to meet the demands that are often included in owning a home. The two rations are as follows:

Mortgage Payment Expense to Effective Income… Continue Reading FHA Requirements – Debt Ratios

Homeowners enjoy the benefits of investing in their property year after year. For some, there comes a time when that investment can come in handy. Refinancing with an FHA loan can prove to be an effective way to put that equity to work. Keep in mind that FHA refinancing is only available to homeowners who are currently using their home as their principal residence. Here are two FHA options for homeowners who are considering an FHA refinance mortgage:

FHA Cash-Out Refinance 
… Continue Reading FHA Refinance Options

Owning a home may be easier than you thought possible with the CHF ACCESS Down Payment Assistance Program. The program is designed to assist low-to-moderate income homebuyers with the purchase of a home, by providing a means to finance most of the associated down payment.

The Program combines a 30-year fixed interest rate FHA Mortgage Loan with downpayment and/or closing cost assistance in the form of a low and fixed interest rate Second Mortgage. Total financing up to 99.5% of the purchase p… Continue Reading CHF Access Loan Program – As little as 1/2% Downpayment

Every New Year’s Eve, millions of Americans make New Year’s resolutions. Whether the resolution is to get out of debt, to spend more time with loved ones, or to quit smoking, these resolutions have one thing in common; they are goals to make our lives better.

Unfortunately, this ritual commitment to self-improvement is widely viewed as something of a joke – in part because New Year’s resolutions go so notoriously unmet. After years of watching others – or themselves – excitedly commit to a ne… Continue Reading Resolutions

Hanging mistletoe over a doorway during the holiday season is a tradition around the world. But have you ever stopped to think about the story behind it? Where did it come from? Why do we kiss just because we’re standing underneath some shrubbery?

The word Mistletoe is derived from the Anglo-Saxon words, “Mistel” (dung) and “tan” (twig) – misteltan is the Old English version of mistletoe. It’s thought that the plant is named after bird droppings on a branch.

One of the beliefs in the early… Continue Reading Mistletoe