First Time Home Buyers in Sacramento Rejoice!

Free Money for First Time Home Buyers

Free Money for your new home

First things first, despite the title, you do not need to be a first time home buyer to qualify for this program.  You also qualify if you have not owned and occupied a home as a principal residence within the preceding three years and the home you are buying is within a federally designated target area, more info below.

If you live in the Greater Sacramento Area (Sacramento, Elk Grove, Folsom, Isleton, Galt, Citrus Heights, Rancho Cordova and the unincorporated areas of the County of Sacramento) and are looking to buy your first home (or if you qualify, read below) then you are in luck.  Here is a program to help you realize this dream.  The Sacramento Mortgage Credit Certificate (MCC) Program is designed to help you get into your new home.  The MCC reduces the income tax you would have to pay, which in turn allows you more available income to qualify for a mortgage and to help you make your monthly mortgage payments. (more…)

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The good kind of workout. Home Loan Workouts.

On February 18, 2009, President Obama announced his new Homeowner Affordability and Stability Plan to help troubled

Keeping Homes Safe

homeowners avoid foreclosure.  His plan will help up to 9 million homeowners trying to avoid foreclosure on their primary residence.

Since Loan Modifications are evaluated on a case by case basis it is always good to be prepared before calling your lender.  Here is a list of the important documents and information that you should have ready:

  • Loan number
  • Income information and documentation
  • Most recent mortgage statement
  • Bank statements
  • Letter demonstrating financial hardship

I have also found a list of documents that have detailed information on specific Mortgage Workout and Loan Modification programs:

Need more information?  Don’t hesitate to email me for a Free, no obligation, Consultation.  My email address is peter@peterparkersellshomes.  Or visit my website for information on avoiding foreclosure.

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Free Home Energy? …in the long run…

In today’s economic climate I am sure that you, like me, are looking everywhere you can to save ourselves some

The sun is your friend....

moolah. Luckily for us we live in SUNNY cali where for the past ten years we have been pushed towards solar energy by the state offering us  rebates and incentives introduced through various programs over the years.

NOTE: For a more detailed list of the Californias Solar Energy programs check out this website.

I can’t tell you specifically how much money you can save, it varies too much depending on your situation.

NOTE: I did find a great little “Solar Calculator” tool to help you get a general idea of the money you could be saving on this website.

The best bet would be to find a Qualified Solar Installer who can come to your house and outline the best solution for you.

NOTE: Head on over here today and fill out the form to get a local Qualified Solar Installer to contact you.

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A Successful Short Sale! We do the work.

I sent this out to all of my Realtor friends recently.  It outlined how I can make you money doing your short sales that normally you might toss due to the likelihood of them being unsuccessful.

AVOID THE RISKS OF LOSING TIME AND MONEY USING THIRD PARTY PROCESSORS WHO:

  • Rely on volume, accepting any and all files without pre-qualifying or assessing their chances of a successful close
  • Require non-refundable start-up fees and/or too much of your hard earned commission
  • Are responsible only for negotiating the offers submitted to lender(s). While you handle……
    • All the paperwork and communications to obtain/update seller’s required financials
    • Listing and Marketing the property
    • Processing and negotiating offers and close escrow…

    For files with little chance of closing, you risk wasting valuable time and resources and ending up with no commission and an unhappy client

P.S. Our success is based on providing win-win solutions for you and your clients. Let us take all the risk, call (800) 962-0444 or email us at Peter@PeterParkerTeam.com so we can help you today, and don’t keep us a secret!

Short Sales questions answered at www.StopMySacramentoForeclosure.com

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The Governator’s Loan Mod program exceeds itself

Check out this article over at the Sacbee:

Schwarzenegger, who corraled lenders into the nation’s first voluntary loan agreement 16 months ago, said

Loan Modification

the results exceeded his goal of 100,000 modifications during 2008. In a radio address Saturday, the governor expressed pride in the numbers, but said, “The threat of foreclosure still looms over thousands of California families, and risks our economic recovery.”

At least 10 major lenders and several smaller ones report loan workouts to the state as part of the governor’s agreement. Their loans represent “easily more than half the market in California,” said DOC spokesman Mark Leyes.

To read the full article head on over to the SacBee.com.

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First-Time Home Buyer Tax Credit f.a.q.

Frequently Asked Questions About the Home Buyer Tax Credit

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.

The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

Read the ful FAQ here

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Reminder about Dec 8th Sacramento County Flood Map Changes and Big Insurance $ Savings

December 8th will be here before you know it, and if you live in one of the many Sacramento County zip codes that are having changes made to the flood zone maps which affect insurance rates, you’ll want to call your insurance agent to secure grandfathered flood insurance rates that will save you a lot of money.

I posted detailed information about this last month; you can refer to that or call my office at 916.863.0444 and we’ll be glad to send over a copy of the information, and if you need a referral to a good insurance agent who is on top of this we can give you that too.

Best wishes to you and yours at Thanksgiving and throughout the holiday season!

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New Fannie Mae Guidelines Encorage Short Sales

Does it make a difference for their future home ownership possibilities whether homeowners choose to do a short sale as opposed to a foreclosure or a deed in lieu of foreclosure?  YES!

Fannie Mae recently released updated underwriting guidelines for new mortgage loans that directly address individuals with various types of foreclosure history.

Potential borrowers with a foreclosure on their credit record must wait 5 years to be considered for new funding, and are subject to additional credit and down payment requirements for 5 to 7 years.

Deed-in-lieu-of-foreclosures warrant a 4 year wait with additional requirements for 4 to 7 years. 

Short Sales require only a two year wait with no additional requirements.

These new guidelines make short sales a more attractive option for homeowners AND a much faster route to future home ownership.

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Sacramento flood insurance savings…

FLOOD INSURANCE SAVINGS OF $1,871 the first year, and $969 per year afterwards!

PLEASE TELL YOUR NATOMAS &  SACRAMENTO AREA FAMILY, FRIENDS AND NEIGHBORS ABOUT THIS!

I wanted to pass on valuable information from Jon Merker of TWFG Insurance Services for you to share with those you know in the Sacramento, Natomas and North Sacramento neighborhoods of the 95833, 95834, 95835, 95836, 95837, 95838, and 95815 zip codes.

FEMA will be requiring any property with a federally-insured mortgage (almost all of them, with the exception of those purchased with cash, private financing, or state-chartered credit union loans) in those zip codes to have flood insurance beginning on 12-8-08.

And here’s the savings:

If you buy a flood insurance policy before 12-8-08, you’ll pay “The Preferred Rate for X Zone,” $348 for the policy for the first year. The renewal rate after the first year will be “grandfathered in” at a “Standard Zone rate” of $1,250. If you wait until after 12-8-08, you’ll pay the “AE Zone Rate” of $2,219!

That’s a savings for buying the policy prior to 12-8-08 of $1,871 for the first year, and $969 for every year thereafter!

PLEASE TELL YOUR NATOMAS & NORTH SACRAMENTO FAMILY, FRIENDS AND NEIGHBORS ABOUT THIS!

Jon can send you an e-mail with further details; contact Jon at: jmerker@twfg.net ;  Jon’s cell number is 916-601-3846.

Feel free to call me at 916.863.0444 or visit my web site www.PeterParkerSellsHomes.com

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Here’s a great reason to visit Georgia

Beautiful Georgian countryside!

While the Soviet Union did leave a lot of eyesores in its wake it was thankfully unsuccessful in ruining the natural beauty bestowed upon the former Soviet Republic of Georgia. With fertile valleys, a tropical climate region along the Black Sea coast and mountains higher and more lush than the Alps in Europe it has truly been blessed in this regard. Georgians have been known to boast that within an hour or two they can go from skiing in the Caucasus Mountains to swimming in the Black Sea or vice versa. In fact the landscape in Georgia is so stunningly beautiful and such a source of national pride that a creation story of Georgia has developed over centuries. According to the Georgians when God was creating the Earth and parceling out land to different groups of people the Georgians were feasting and partying and therefore somehow God forgot about them and skipped over them. Upon realizing this the Georgians came to God and asked where there land was. Realizing his mistake God felt terrible and told the Georgians there was a wonderful and abundant piece of land he was saving for himself and that instead he would give it to them. This land was Georgia!

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