Solid Source Family First Realty

Good News!


Please read the following article regarding a temporary waiver regarding the 90 day rule and FHA Financing!

This is an excellent opportunity to Invest in Real Estate!


HUD acts to speed foreclosed properties re-sales
WASHINGTON
Fri Jan 15, 2010 6:21pm EST
WASHINGTON (Reuters) - The U.S. government is taking action to speed the resale of foreclosed properties by temporarily expanding access to Federal Housing Administration mortgage insurance, U.S. housing officials said on Friday.

U.S. Housing Market

Effective Feb 1, the Housing and Urban Development Department will waive for one year an FHA rule that prohibits insuring a mortgage on a home owned by the seller for less than 90 days, giving FHA borrowers access to a broader array of recently foreclosed properties.

The move is to allow homes to resell as quickly as possible, helping stabilize real estate prices and revitalize neighborhoods after the U.S. housing market collapse.
"This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed," HUD Secretary Shaun Donovan said.

FHA research shows acquiring, rehabilitating and reselling foreclosed properties to prospective homeowners often takes less than 90 days, HUD said.
The current rule discourages sellers from signing contracts with FHA buyers because of holding costs and the risks of vandalism from allowing a property to sit vacant more than 90 days, the department said.

"FHA borrowers, because of the restrictions we are now lifting, have often been shut out from buying affordable properties," said FHA Commissioner David Stevens.
The policy change will permit buyers to use FHA-insured financing to purchase HUD-owned properties, bank-owned properties or properties resold through private sales.

http://www.reuters.com/article/idUSTRE60E5YP20100115

Have a Blessed and Prosperous 2010!

The N-Source

The media and politicians has convinced us that we are in a recession. We can pick up any newspaper, magazine and can see there are definitely some changes going on out there. The newspaper are thin and the magazines are very thin. You must be wondering what is really going on. Well, my thoughts are everyone has bought into the notion of what you don't have instead of what you do have.

Close your eyes and pondering on what you don't have for a minuet only a minuet. How did that second feel. Did it feel scary and dark? Did it send shock waves of panic through your body? My guess is, it probably did. Just think most businesses has pondered for longer than a second and that is why some many business have closed their doors, which includes my fellow Realtors. Let us not forget that many potential homeowners has negated the thought of owning the American dream in the best market life has ever seen due to the pondering on what they don't have to purchase their home. Folks are giving their homes back in masses due to the fact they have caved into their minuet thoughts.

Now, take the next minute and ponder on the thought of having. What do you have right now that can propel your business to the next level? What do you have right now that can put you an a better financial, spiritual and physical position. You will experience many split seconds of the fear of not having, but it only take the next second to reverse those thoughts. Wow, it feels good, safe, and it gives you invigorating power.

I will give you some hints to what you have right now that will not cost you a dime. How about, you just experienced controlling your state of mind and no one has the right to control your mind, certainly not the media or politicians. They did not earn that right to control your mind. How about your eyes, what are you watching daily? Try watching a funny movie, sometimes there are lessons in great movies. How about your ears, who and what are you listening to? Stay away from nay-Sayers. This is the time to make your dreams and goals come true. Everything is cheap right now and you should take advantage of this moment. It is the perfect time to boast your business. The most sensitive organ is your heart. Guard it because the issues of your life flows from your heart. What you plant in your heart will become rooted in your heart. Finally, your tongue is the most vital but the hardest to control. What you speak will manifest into your life.

If your eyes and ears focus on what you don't have it will become rooted in your heart, therefore you will speak and act upon the nasty words RECESSION/DEPRESSION. Trust me, those words are only words unless you make the decision to relinquish your power to those words.

I promise, you will get what you want with what you have when you make the decision to focus only on the what you have. Hey, we have tons of home to sell, we have less Realtors to compete with and those darn interest rates and sales prices are way down.

Have a happy and joyous week

The N-Sourcer

The early morning of Easter Sunday I began to ponder what this day truly meant to me.

Resurrection? My thoughts were, will I continue on day to day lugging old, dead and meaningless stuff in my heart. I took sometime to truly feel the grave. It was a cold, deep, dark grave. a grave of unforgiving, guilt, pain and pride. Shucks, I thought I was living a successful life, I thought I had everything I could ever want. Shucks, I felt life is really wonderful for me right now. I started to examine the stuff I was possessing in my grave, and it became apparent to me that not only have I have cheated myself of a life of wholeness.

I had a liquid sunshine moment. I was not fulfilling my obligation to use my gifts and talents to receive exceedingly and abundantly more than I could ever imagine. I challenged myself on the spot to let go and let God. He resurrected Jesus and at that moment I felt instant Resurrection. Something came over me that I have never experienced before and I was up for the challenge. I began to write down, everyone that I needed to call to ask for forgiveness, I released pass guilt and pain. I will work diligently every day to rise above the spirit of pride.

I love the field of Real Estate and what a great blessing to be in this business at this moment. I wrote down how I will maximize my gifts and talents during these turburlent times. I know for sure at that moment I desired to live a life of wholeness. I have risen and I am truly looking forward to each day.

Wholeness is nothing broken and nothing missing in your life and what great joy.

I love you all, and may you receive peace and joy each and every day.

I am so excited and grateful for the past and the present. I was in a market like this one in the 1980"s. I was selling real estate in the state of Colorado. The interest were at 14% and Colorado was tagged Foreclosure Capital of the World due to the Savings and Loan Bust. Real Estate was at a stand still and agents simply stop selling real estate.

This is when I learn "The Art Of Short Sale Negotiations." I am telling you, these were my best years in real estate and I sold tons of homes to worthy homeowners. Buyers could not believe that had the opportunity to own a home. The interest rates were extremely high and the sales price of homes had dipped. This combination allowed their loan amount affordable. Brokers, Buyers there tons of lucrative deals in Charlotte. Take advantage of this opportunity while the market is in this condition.

I am very surprised that Brokers, and buyers are missing out on this opportunity for home ownership. Rates are at a 40-50 year low and homes are at it's lowest along with some 100% down payment programs that are still available.

Please Buyers take advantage of this hot market. Eventually the market will change and rates will rise higher than ever, home sales price will also increase. The banks must make up for their lost some where. My fellow broker, this process is a difficult and frustrating process, but it is well worth it to explore our Short Sale Program. I offer a class free of charge on understanding "The Art of Short Sale Negotiations," and you are invited to attend. Let's start educating the buyers on the joys of the Short Sale program.

Thanks everyone and I pray you have a prosperous week!

The N-Sourcer

Our Partners VR-Tech and United Credit Education Services conducted an awesome and informative workshop on Saturday afternoon. It was fun filed hour- power credit education workshop to inform the consumers on the 10 Greatest Myths about Your Credit.

We are now able to apply the knowledge of The Fair Credit Reporting Act of 1971. Consumers if the FCRA of 1971 is incorrectly applied or unfairly used against you, it could cost you the opportunity to purchase your home and or receive ridiculous rates on your mortgage, auto, and credit card loans. It could cause you to pay higher insurance premiums or your Home Owners Insurance could be declined. The majority of Employers are now requiring a credit check before the give you a formal offer for a position with their company. The credit market is changing and the ratings are getting tighter, therefore, your credit rating is very important.

Millions of Home Buyers are not informed of the positive impact this Law should have on their credit rating. Instead Home Buyers accept what the Credit Agencies give them as credit rating and most of the time they are using unfair practices to receive that rating.

I have been in the business for over 20 years and some of the information that was given on Saturday I heard for the first time. I cringed at the thought of how many customers are turned down for home ownership or if given the opportunity to own a home the have taken a higher cost loan and higher interest rate.

Myth #1
Credit agencies are empowered with some kind of governmental authority.
Truth #1
Credit Agencies have no legal authority at all . They are simply private companies who are in the business of selling credit information.

Spread the news and I hope to see you at the next workshop!

The N-Sourcer

What are some of the unusual ways the state of the economy has touched your life. Have you lost your job, started a new career, bought you closer to your family members or has this wicked economy torn your family apart. Have you lost your home, or gained a home. Has it caused you to stop living or have you start living life to its fullest.

I invite you to share some of your experiences on how the state of the economy has touched your life. We might find that we are not alone in our experiences. We all could grow from sharing.

Be Blessed!

The N-Sourcer