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Saturday, June 2, 2012
207 Roosevelt Blvd, berlin NJ 08009...Open House....Presented by Team Clyde RE/MAX Connection
Sunday, May 27, 2012
Remembering on Memorial Day and Showing Gratitude to those that made the ultimate Sacrifice
As we stand here looking
At the flags upon these graves
Know these flags represent
A few of the true American brave
They fought for their Country
As man has through all of time
Except that these soldiers lying here
Fought for your country and mine
As we all are gathered here
To pay them our respect
Let's pass this word to others
It's what they would expect
I'm sure that they would do it
If it were me or you
To show we did not die in vein
But for the red, white and blue.
Let's pass on to our children
And to those who never knew
What these soldiers died for
It's the least we can do
Let's not forget their families
Great pain they had to bear
Losing a son, father or husband
They need to know we still care
No matter which war was fought
On the day that they died
I stand here looking at these flags
Filled with American pride.
So as the bugler plays out Taps
With its sweet and eerie sound
Pray for these soldiers lying here
In this sacred, hallowed ground.
Take home with you a sense of pride
You were here Memorial Day.
Celebrating the way Americans should
On this solemnest of days.
At the flags upon these graves
Know these flags represent
A few of the true American brave
They fought for their Country
As man has through all of time
Except that these soldiers lying here
Fought for your country and mine
As we all are gathered here
To pay them our respect
Let's pass this word to others
It's what they would expect
I'm sure that they would do it
If it were me or you
To show we did not die in vein
But for the red, white and blue.
Let's pass on to our children
And to those who never knew
What these soldiers died for
It's the least we can do
Let's not forget their families
Great pain they had to bear
Losing a son, father or husband
They need to know we still care
No matter which war was fought
On the day that they died
I stand here looking at these flags
Filled with American pride.
So as the bugler plays out Taps
With its sweet and eerie sound
Pray for these soldiers lying here
In this sacred, hallowed ground.
Take home with you a sense of pride
You were here Memorial Day.
Celebrating the way Americans should
On this solemnest of days.
Saturday, May 26, 2012
Do You Owe More Than Your Camden County Home Is Worth?.
As a HAFA Specialist My Team is the leading resource for Home Affordable Foreclosure Alternatives education and assistance.
Homes Affordable Foreclosure Alternatives (HAFA) is a new federal program that makes it easier for homeowners who owe more than their home is worth in today’s market or are unable to keep their homes. With a traditional short sale, properties take a lot of time to sell and close, making it very difficult to plan for your family's future and increasing the level of stress in an already difficult situation.
The availability of the new HAFA program means easier sales and faster closings while removing mortgage liability because HAFA simplifies and streamlines the process for doing a short sale or deed-in-lieu, by providing a standard process flow, minimum performance timeframes and standard lender forms and documentation. It also mandates full release from mortgage debt for the seller.
As a HAFA Specialist I have been able to assist numerous homeowners and their families take advantage of this program with full release of all mortgage liabilities, reducing credit impact and allowing a second chance at homeownership much quicker!
Why is HAFA the right choice if you qualify?
- Provides you with $3000 dollars at close for relocation expenses
- Gives you an upfront release value to sell the home
- Gives you a min of 120 days and max of 360 days to sell the home
- 10 business day approvals once a contract has been submitted for a approval
- Permanent relief of all future liabilities associated with the loan from the Lender or Servicer
- No Promissory Notes or funds required at close from the Borrower (i.e., seller)
- No Deficiency Judgments
- Mandatory Foreclosure Postponement
- Decrease Borrowers time to re-establish credit and get a second chance at homeownership more quickly
Why should you work with a HAFA Specialist?
- As a HAFA Specialist I:
- Know who is eligible and who is not!
- Understand the current U.S. distressed housing market
- Have in-depth knowledge of the U.S. Treasury's HAFA program.
- Know how Fannie Mae and Freddie Mac's HAFA programs work.
- Have access to short sale evaluation tools for listing consults
- Get HAFA program and Servicer updates as they occur
- Have all the latest HAFA documents for the process
Monday, May 21, 2012
FHA May Ease Rules for Mortgages on Condos
WASHINGTON — Thousands of condo unit owners and buyers around the country could soon be in line for some welcome news on mortgage financing: Though officials are mum on specifics, the Federal Housing Administration is readying changes to its controversial condominium rules that have rendered large numbers of units ineligible for low down-payment insured mortgages.
The revisions could remove at least some of the obstacles that have dissuaded condominium homeowner association boards from seeking FHA approvals or recertifications of their buildings for FHA loans during the past 18 months. Under the agency's regulations, individual condo units in a building cannot be sold to buyers using FHA insured mortgages unless the property as a whole has been approved for financing.
According to condominium experts, realty agents, lenders and builders, FHA's rules have become overly strict and have cut off unit buyers from their best source of low-cost mortgage money, thereby frustrating the real estate recovery that the Obama administration says it advocates.
Christopher L. Gardner, managing member of FHA Pros, LLC, a national consulting firm based in Northridge, Calif., that assists condo boards to obtain FHA approvals, said barely 25 percent of all condo projects that are potentially eligible for FHA financing are now approved. That is despite the fact, says Gardner, that FHA financing is the No. 1 mortgage choice for half of all condo buyers and is crucial to first-time and minority purchasers.
Moe Veissi, president of the National Association of Realtors and a broker in Miami, says FHA's strict rules "have had an enormous impact on individuals" across the country, especially residents of condo projects who suddenly find they are unable to sell their units because their condo board has not sought or obtained approval from FHA as the result of objections to the agency's strict criteria. This, in turn, depresses the prices unit owners can obtain and ultimately, said Veissi, harms their equity holdings and financial futures.
FHA officials defend their requirements as prudent and necessary to avoid insurance fund losses, but have expressed a willingness to reconsider some of the issues that have upset condo owners and the real estate industry. Among the biggest areas of criticism of FHA's rules are its limitations on:
• Non-owner occupancy. The agency requires that no more than 50 percent of the units in a project or building be non-owner-occupied. This rule alone has made large numbers of condominiums in hard-hit markets ineligible for FHA financing, where investors have purchased units for cash to turn into rentals.
• Delinquent condo association fee payments. FHA refuses to approve a project where more than 15 percent of the units are 30 days or more behind on payments of condo fees to the association. Given the state of the economy, this has been a problem for thousands of associations, even in relatively prosperous markets. Steve Stamets, a loan officer with Apex Home Loans in Rockville, Md., says some unit sellers and buyers have been so frustrated by the rule that they have offered to pay the amount of delinquent fees needed to bring the overall project into compliance "just to get the deal done. This is a ridiculous situation," said Stamets, who added: "When somebody calls up now and says they want to buy a condo with an FHA loan I cringe."
• Non-residential space usage. FHA has set a cap of 25 percent of the total floor space in a project for commercial use. Critics say this is too low and unrealistic for condo projects in urban areas, where retail and office revenues can be important to overall financial feasibility.
The agency has imposed a long list of other requirements on insurance and reserves, plus a highly controversial rule that associations interpret as creating severe legal liabilities for condo board officers if applications for FHA approvals contain inaccuracies. Andrew Fortin, vice president for government and public affairs at Dallas-based Associa, one of the country's largest homeowner association management firms, says that many boards, facing the prospect of up to 30 years in prison and heavy financial penalties, have refused to apply solely because of this personal liability requirement.
FHA is expected to clarify the personal liability language and make other modifications in its forthcoming rules. Whether the changes will be enough to convince condo boards to apply for approvals in large numbers is uncertain, but industry experts say they -- and condo unit owners -- are likely to welcome whatever loosening of the current restrictions FHA can offer.
The revisions could remove at least some of the obstacles that have dissuaded condominium homeowner association boards from seeking FHA approvals or recertifications of their buildings for FHA loans during the past 18 months. Under the agency's regulations, individual condo units in a building cannot be sold to buyers using FHA insured mortgages unless the property as a whole has been approved for financing.
According to condominium experts, realty agents, lenders and builders, FHA's rules have become overly strict and have cut off unit buyers from their best source of low-cost mortgage money, thereby frustrating the real estate recovery that the Obama administration says it advocates.
Christopher L. Gardner, managing member of FHA Pros, LLC, a national consulting firm based in Northridge, Calif., that assists condo boards to obtain FHA approvals, said barely 25 percent of all condo projects that are potentially eligible for FHA financing are now approved. That is despite the fact, says Gardner, that FHA financing is the No. 1 mortgage choice for half of all condo buyers and is crucial to first-time and minority purchasers.
Moe Veissi, president of the National Association of Realtors and a broker in Miami, says FHA's strict rules "have had an enormous impact on individuals" across the country, especially residents of condo projects who suddenly find they are unable to sell their units because their condo board has not sought or obtained approval from FHA as the result of objections to the agency's strict criteria. This, in turn, depresses the prices unit owners can obtain and ultimately, said Veissi, harms their equity holdings and financial futures.
FHA officials defend their requirements as prudent and necessary to avoid insurance fund losses, but have expressed a willingness to reconsider some of the issues that have upset condo owners and the real estate industry. Among the biggest areas of criticism of FHA's rules are its limitations on:
• Non-owner occupancy. The agency requires that no more than 50 percent of the units in a project or building be non-owner-occupied. This rule alone has made large numbers of condominiums in hard-hit markets ineligible for FHA financing, where investors have purchased units for cash to turn into rentals.
• Delinquent condo association fee payments. FHA refuses to approve a project where more than 15 percent of the units are 30 days or more behind on payments of condo fees to the association. Given the state of the economy, this has been a problem for thousands of associations, even in relatively prosperous markets. Steve Stamets, a loan officer with Apex Home Loans in Rockville, Md., says some unit sellers and buyers have been so frustrated by the rule that they have offered to pay the amount of delinquent fees needed to bring the overall project into compliance "just to get the deal done. This is a ridiculous situation," said Stamets, who added: "When somebody calls up now and says they want to buy a condo with an FHA loan I cringe."
• Non-residential space usage. FHA has set a cap of 25 percent of the total floor space in a project for commercial use. Critics say this is too low and unrealistic for condo projects in urban areas, where retail and office revenues can be important to overall financial feasibility.
The agency has imposed a long list of other requirements on insurance and reserves, plus a highly controversial rule that associations interpret as creating severe legal liabilities for condo board officers if applications for FHA approvals contain inaccuracies. Andrew Fortin, vice president for government and public affairs at Dallas-based Associa, one of the country's largest homeowner association management firms, says that many boards, facing the prospect of up to 30 years in prison and heavy financial penalties, have refused to apply solely because of this personal liability requirement.
FHA is expected to clarify the personal liability language and make other modifications in its forthcoming rules. Whether the changes will be enough to convince condo boards to apply for approvals in large numbers is uncertain, but industry experts say they -- and condo unit owners -- are likely to welcome whatever loosening of the current restrictions FHA can offer.
207 Roosevelt Blvd, berlin NJ 08009....Presented by Team Clyde RE/MAX Connection
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Monday, May 14, 2012
114 South King Street, Magnolia NJ 08049...Listed by Stephen B Clyde
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