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down payment assistance program FHA loan program IBM mortgage servicing preforclosuredailygrind properties Real Estate short sale
On this week’s Preforeclosure Daily Grind “Tip of the Week” we dive into why looking for a Down Payment Assistance Program in your state maybe the best option for a cash starved buyer for our short sale properties. Listen in as we not only cover this but also the differences between a “Down Payment Assistance Program” and a standard “FHA Loan Program”, IBM’s entrance into the mortgage servicing world and how quick they are processing their short sales. We also discuss how NOT to approach a phone call in which you’re trying to obtain information from someone you’ve never spoken to before, and much more. Take a 14 day test drive of the easiest, most comprehensive real estate management platform available! Visit www.PropTrackr.com for more info.
[...] This post was mentioned on Twitter by Kelly Schwedland, PropTrackr. PropTrackr said: New blog posting, Why Finding Down Payment Assistance Programs is a “Must” in Today’s Market! – http://tinyurl.com/269vwxr [...]
Hey Bob -
Hope all is going well.
In line with the “low downpayment” type loans, be sure to mention the USDA loans…they do 100% purchase deals.
They have some typical guidelines similar to FHA but if the “area” qualifies it’s a great deal.
Kevin
Bob and Chris
In addition to the buyer’s state programs some states like Oregon, Arizona, Michigan, California qualify for the hardest hit fund. Starting in January 2011. A transition fund of up to $3,000 will be available to help sellers relocate. It seems this could be use in addition to HAFA $3,000 funds.
I saw this as a way to buy out prom notes with cash or give a little extra to charged off 2nds to release liens. You can read about it on one of my micro blogs. Could be good lead generation your clients in those states.
JB
http://oregonhardesthitfund.posterous.com/tag/oregonhomeownerhelp