Columbia SC Homes For Sale

Foreclosures and Second Properties

2012-02-14T11:43:00.000-05:00

Foreclosure and Second Properties

What Does it Mean to Buy and Bail?

Buying and bailing on refers to the act of buying a second property and allowing a first home to fall into foreclosure. Homeowners who purchase second properties in this scenario are typically upside down on their primary residence, meaning they owe more on their first home than it is worth in the current market. It's likely that they had an adjustable rate mortgage and their monthly mortgage payment grew to a payment they could no longer afford. For some, an easy solution appears to be buying a second property at a depressed price with a fixed rate mortgage in order to lower their monthly mortgage payments. At the same time, they let their first home fall into foreclosure û hence the term buying and bailing.

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2011-11-10T20:43:00.001-05:00

Columbia SC Homes For Sale present this :Corner lot, all brick, open floor plan with new carpet and paint. One owner home includes ceiling fans, appliances and blinds throughout, high ceilings, recess lights, smoke detectors, flat large shaded backyard, screened porch, formal living room with entertainment nook, formal dining room with shadow-box molding, move-in ready. Minutes away from Sandhills shopping and YMCA. Community pool, lake, market square and bistro, learning center, and walking trails. Located in award winning school district Richland Two. Community of the year! View Columbia SC Homes For sale.

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2011-09-19T22:22:00.005-04:00

Columbia Sc Homes For sale with Open Floor Plan; huge back yard with privacy fence; 3 bed RM/ 2 Full bath; Master Bed RM with walk-in closet; Garden Tub with Separate Shower; Enjoy the front porch over looking a well maintained front lawn, this lovely home is located on a cul-de-sac minutes away from Sand Hill shopping Center, located in award winning Richland Two school district and only 15 Minutes from Fort Jackson. Click here for more information on this Lovely Columbia SC Home for sale

Columbia SC Homes For Sale- 83 Killian Station

2011-09-08T22:15:00.000-04:00

3 Bed Room; 2 Full Bath

Located in Nort East Columbia SC

Columbia SC Home For Sale in North East Columbia SC. This wonderful home is located in one Columbia award wining school district. Located only 5 minutes from Sandhill Shopping mall, resturants and movie theater.

Columbia SC Home For Sale

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Buying Your First Home In Columbia SC

2011-08-11T20:34:00.000-04:00

Buying your first home can be a difficult process - especially if you don't ask the right questions ahead of time. According to Kimberly Palmer, key contributor to U.S. News & World Report, a critical mistake first-time buyers make is overlooking hidden costs that could have been revealed prior to making a purchase decision. Determining these and other critical factors can have a huge impact on your ability to find the right property for your needs.

When it comes to purchasing your first home Columbia SC, buyers need to remember that their realtor is there to help ease the process and should take advantage of each opportunity to learn from them.

At a minimum, these are some of the most common questions to ask a realtor when buying your first home:

1) Is the listing price in line with market value?

2) What is a fair offer on the property based on recent comparables?

3) How long has the property been on the market?

4) How motivated is the seller?

5) What price did the seller pay for the home?

6) What is the age and condition of the property?

7) How many people have owned the property?

8) What items are included in the sale (e.g. appliances, window coverings, etc.)?

9) What are the annual taxes?

10) Is there a monthly or quarterly HOA?

11) Is the current owner up-to-date on payments?

12) How quickly can the property close?

13) Has all work on the house been completed with permit and to code?

14) What schools is the property zoned for?

15) Is there much crime in the neighborhood?

16) What type of utilities does the home require (e.g. oil, gas, septic, etc.)?

17) Who do you recommend to perform the home inspection, and why?

18) Which title company do you recommend, and why?

19) What is your relationship with the listing agent?

20) Do I need to be pre-qualified to write an offer?

And most importantly:

21) Is there anything you need to tell me that I haven't already asked?

Although a list of 21 questions may seem like overkill, when it comes to buying your first home in Columbia SC, you can never be too informed. Realtors are people too and, regardless of how celebrated or highly recommended they are, they can forget to mention important details as easily as any other. As the buyer, it is your responsibility to ask the right questions and be as knowledgeable about the home as possible. Ask questions when buying a home in Columbia SC

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Columbia SC Homes For sale

2011-08-10T21:45:00.000-04:00

Columbia SC Homes For sale

Columbia SC Home for Sales report. Here you will also find a comprehensive Columbia SC Home for sale and school Report, full Columbia Home Search demographics, and real estate insights second to none. Please feel free to browse the site to learn about Columbia Home Search Real Estate homes for sale, and get in touch with any questions you may have.

Updated Daily

This site is updated daily with new Columbia SC Home for sale and properties that come on the market in the Columbia Home Search area. Often, homes are sold within days of coming on the market. That is why it's valuable to have the full, updated homes and property data on this website. Along with the ability to view Columbia SC Home homes for sale, you'll also get the following when you sign up:

1000's of Local Homes for Sale
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Accurate & Up to Date Content
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Learn About Columbia Home Search Right Here!

It is very important for you to know the ins and outs of the town (Columbia SC Home For sale) you will be moving to. When you're making a decision to move, you want to work with the Columbia Home Search real estate agent who has extensive knowledge of the area and can help you and your family prepare for life in Columbia SC. Who better to answer your important questions like, "Where is the good Chinese place?" and "How far away is the movie theater?" Find out about what matters to you, such as the quality of the local school system, access to mass transit, and overall quality of life in Columbia SC Homes For Sale Market area. Now you can take advantage of Columbia SC Homes For Sale expertise, get answers to your questions, and relax while all your needs for your upcoming move to Columbia SC Homes For sale area are taken care of!

Find homes for sale in Columbia SC here

Columbia Real Estate Market Report

2011-08-04T19:03:00.000-04:00

You may have noticed some "noise" lately about where the Columbia SC Real Estates Market is heading. Some accounts are optimistic while others, well, aren't. The good news is that the Columbia Real Estate local data provides a more reliable tone than national sound bites can offer. When it comes to hearing the market's true message, it may not necessarily be from the expected indicators, it may not be heard evenly across all segments and it may arrive in disjointed bursts. Let's listen.

The rate of inventory absorption in the Columbia Real Estate slowed as Month’s Supply of Inventory was up 28.2 percent to 15.3 months. New Homes for Sale decreased 0.8 percent to 1,539. Pending Sales were up 19.7 percent to 688. Inventory levels shrank 3.3 percent to 8,209 units, but even choosy buyers can still find top-notch homes.

Prices were more or less stable. The Median Columbia SC Home Sales Price increased 0.8 percent to $146,130. Days on Market increased 19.9 percent to 117 days. Affordability also improved.

On the national front, the interest rate dropped to 4.79 percent on a 30-year fixed conventional and 4.44 percent for FHA. The unemployment rate has been stable around 9.0 percent and initial unemployment claims have continued to fall. Wages and payroll jobs are also improving slowly. Debt ceiling negotiations and other background noises persist, while prolonged job growth is still the missing verse in the recovery song.

How Can I Save My Home From Foreclosure in Columbia SC?

2011-07-28T00:32:00.000-04:00

Many homeowners in Columbia SC may be wondering, how can I save my home from foreclosure? There are a few options available to homeowners at risk for default on their loans. A possible solution is to refinance to save from home foreclosure. Refinancing can provide a lower interest rate that the homeowner may be able to afford long-term. If refinancing is not a possibility, another option may be to short sell the property. Short selling, or selling for less than the amount owed to the lender, is still damaging to a homeowner's credit but has less impact on the credit score than a foreclosure. With a short sale, a person may also have the ability to buy a house sooner in the future.

Each homeowner has a unique financial and personal situation, and the decision to foreclose on a house that was once considered a home can be a difficult decision for many people. Understanding what causes house foreclosures can help homeowners avoid these scenarios and may ultimately help save a home from foreclosure.

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Stop Foreclosure in Columbia SC
What is my Columbia SC Home Worth

What Causes House Foreclosures?

2011-07-28T00:13:00.000-04:00

Columbia SC Market Trend

If you live in any one of the 50 states impacted by the recent mortgage crisis, you may have noticed a large upswing in the number of ôfor saleö signs in your neighborhood. Many of these homes even have a foreclosure or bank-owned sign in the front yard. In February 2011, approximately 1 in every 577 homes in the United States was issued a foreclosure notice, with worse statistics in many states such as Florida, Michigan and Nevada. This is a staggering number that has reached a new record in many metropolitan areas.

For many people, numbers such as these beg the question, what causes house foreclosures? Unfortunately, there isn't a simple answer. The reasons leading up to a house foreclosure are as increasingly complex as the economy they dwell in. However, there are certainly a few common situations that either alone or in combination can cause house foreclosures in the United States:

Unemployment. The current national unemployment rate is 8.9 percent, and has reached double digits in many states. Due to the declining economy and rise of overseas outsourcing, many homeowners have been laid off and are unable to afford their monthly mortgage payments. This leaves their mortgage in default status, and eventually causes the bank or lender to reclaim the property.
Property value decline. Due to the recent mortgage crisis and economic recession, there has been a surplus of available properties and few buyers eligible to purchase them. This has caused many homeowners to lose property value in the double digits, some as much as 50 percent. In effect, many have become ôunderwaterö on their mortgage, meaning that they owe the bank more money than the property is worth. This uncontrollable situation has left many homeowners feeling helpless and resorting to selling their homes either ôshortö - for less than the amount owed - or letting the bank foreclose on the property.
Neighborhood quality decline. Due to drastic property value declines of 20 percent or more, many underwater homeowners who need to move and choose not to short sell or foreclose on their properties have chosen to rent them out instead. This has brought in a number of young families, college students and low-income renters to neighborhoods that used to contain all middle-class homeowners, increasing the amount of gang-related activity and graffiti, and resulting in an overall neighborhood quality decline in some areas. Homeowners who remain in these areas may want to move, but are unable to sell, leading them to eventually foreclose or sell their homes for less than the owed value.
Interest rate increase. Prior to the mortgage crisis, many homeowners took loans with adjustable rate mortgages (ARMs) that may increase over time. For some borrowers, their interest rate hike equates to hundreds of extra dollars they have to pay on their mortgage each month. Many homeowners can no longer afford their monthly payment once the higher interest rate kicks in. Some of these homeowners are able to refinance to save a home from foreclosure, but many others are not so lucky.
Tax or HOA fee increase. In most metropolitan areas, taxes have been increasing yearly. For a homeowner who purchased 20 years ago, there may have been a double digit tax increase in the time since they bought their home. As a result, they may be unable to afford to pay their increased property tax. Likewise, homeowners with a variable or ever-changing homeowners association (HOA) fee can feel the pressure of added expenses. This scenario is very common in Florida in recent years, as vacant or foreclosed condominiums are on the rise and year-round homeowners are expected to pay a higher HOA to cover the difference in property maintenance fees.
Poor money management. Many homeowners are simply poor at managing their money. Issues such as retail, drug/alcohol or gambling addictions can make homeowners unable to meet their monthly bill obligations and can be an underlying factor in what causes house foreclosures.
Death or illness. In many instances, the illness or death of a family member can significantly impact the household income due to medical bills, lost wages or funeral expenses. Many of these people may be unable to afford their mortgage payment and fall into default status on their home loans.
Divorce. If a husband and wife divorce, either party must ôbuy-outö or move from a dual-earning household to a single. In this scenario, they may no longer be able to afford their monthly mortgage payment on a single salary alone. If they are unable to sell due to a surplus in housing or underwater mortgage, they may resort to foreclose on their house.
How Can I Save My Home From Foreclosure?
Many homeowners may be wondering, how can I save my home from foreclosure? There are a few options available to homeowners at risk for default on their loans. A possible solution is to refinance to save from home foreclosure. Refinancing can provide a lower interest rate that the homeowner may be able to afford long-term. If refinancing is not a possibility, another option may be to short sell the property. Short selling, or selling for less than the amount owed to the lender, is still damaging to a homeowner's credit but has less impact on the credit score than a foreclosure. With a short sale, a person may also have the ability to buy a house sooner in the future.

Each homeowner has a unique financial and personal situation, and the decision to foreclose on a house that was once considered a home can be a difficult decision for many people. Understanding what causes house foreclosures can help homeowners avoid these scenarios and may ultimately help save a home from foreclosure.

2011-07-26T23:37:00.000-04:00

North East Columbia Homes for Sale

Welcome to the North East Columbia SC homes and real estate portal: your single stop for finding a home in North East Columbia. Here you can search every available home for sale in North East Columbia.

As of today there are many homes and properties for sale that are available to search. The number of homes changes daily, so be sure to keep coming back right here, to the best site for North East Columbia SC homes for sale

See All Columbia SC Homes For Sale

2011-07-26T23:28:00.000-04:00

I help sellers, just like you; sell their homes in Columbia SC with a focused strategy. In other words, my job is to help you get your home sold for top dollar and to do that easily and with as little stress as possible.
In the following weeks I'll be sending you several emails to keep you informed on the home selling process.
To get started, I'm sure you want to know the value of your home. I can provide you with a free, no obligation Comparative Market Analysis whenever you're ready. And if you know anyone looking to buy or sell a home, I can certainly help with that too!
Desmond Meade
http://www.columbianewhomesearch.com
DMeade@columbianewhomesearch.com
8033192703 (Office)

Keller Williams Realty
4400 St Andrews RD , ,
Columbia, SC 29212 Each Office is Independently Owned and Operated

Thinking About Buying Your First Home?

2009-03-30T22:51:00.000-04:00

Thinking about purchasing a home of your own? Keep these critical considerations in mind:
How long you plan to live in the home. If you purchase a home and get a job transfer or decide to move after only a short time, you may end up paying money in order to sell it. The value of your home may not have appreciated enough to cover the costs that you paid to buy the home and the costs that it would take you to sell your home.
The length of time that it will take to cover those costs depends on various economic factors in the area of the home. Most parts of the country have an average of 5% appreciation per year. In this case, you should plan to stay in your home at least 3-4 years to cover buying and selling costs. If the area you buy your home in experiences an economic up turn, the length of the time to cover these costs could be shortened, and the opposite is also true.
How long the home will meet your needs.What features do you require in a home to satisfy your lifestyle now? Five years from now? Depending on how long you plan to stay in your home, you'll need to ensure that the home has the amenities that you'll need. For example, a two-bedroom dwelling may be perfect for a young couple with no children. However, if they start a family, they could quickly outgrow the space. Therefore, they should consider a home with room to grow. Could the basement be turned into a den and extra bedrooms? Could the attic be turned into a master suite? Having an idea of what you'll need will help you find a home that will satisfy you for years to come.
Your financial health - your credit and home affordability.Is now the right time financially for you to buy a home? Would you rate your financial picture as healthy? Is your credit good? While you can always find a lender to lend you money, solid lenders are more skeptical if your credit history is not good. Generally, a couple of blemishes on a credit report will make you a good credit risk and could qualify you for the lowest interest rates. If you have more than a couple of blemishes on your report, lenders like Quicken Loans may still provide you with a loan, but you may just have to pay a higher interest rate and fees.
Some say that you should refrain from borrowing as much as you qualify for because it is wiser not to stretch your financial boundaries. The other school of thought says you should stretch to buy as much home as you can afford, because with regular pay raises and increased earning potential, the big payment today will seem like less of a payment tomorrow. This is a decision only you can make. Are you in a position where you expect to make more money soon? Would you rather be conservative and fairly certain that you can make your payment without stretching financially? Make sure that whatever you do, it's within your comfort zone.
To determine how much home you can afford, talk to a lender or go online and use a "home affordability" calculator. Good calculators will give you a range of what you may qualify for. Then call a lender. While some may say that the "28/36" rule applies, in today's home mortgage market, lenders are making loans customized to a particular person's situation. The "28/36" rule means that your monthly housing costs can't exceed 28 percent of your income and your total debt load can't exceed 36 percent of your total monthly income. Depending on your assets, credit history, job potential and other factors, lenders can push the ratios up to 40-60% or higher. While we're not advocating you purchase a home utilizing the higher ratios, its important for you to know your options.
Where the money for the transaction will come from.Typically homebuyers will need some money for a down payment and closing costs. However, with today's broad range of loan options, having a lot of money saved for a down payment is not always necessary - if you can prove that you are a good financial risk to a lender. If your credit isn't stellar but you have managed to save 10-20% for a down payment, you will still appear to be a very good financial risk to a lender.
The ongoing costs of home ownership.Maintenance, improvements, taxes and insurance are all costs that are added to a monthly house payment. If you buy a condominium, townhouse or in certain communities, a monthly homeowner's association fee might be required. If these additional costs are a concern, you can make choices to lower or avoid these fees. Be sure to make your realtor and your lender aware of your desire to limit these costs.
If you are still unsure if you should buy a home after making these considerations, you may want to consult with an accountant or financial planner to help you assess how a home purchase fits into your overall financial goals

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Save up to $29,000 on New Homes

2009-03-23T22:28:00.000-04:00

Save up to $29,000 on New Homes on a Deal of a Lifetime is back and better than ever. This time around you'll save up to $29,000 on select ready to move-in homes with 100% financing available. Spend up to $5000 in Mad Money on specified homes.

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Help For Military Home Owners!

2009-03-23T21:39:00.000-04:00

The financial strain affecting so many military families required to move in a bad housing market may soon be alleviated in the newly passed $787 billion stimulus package.

The stimulus — signed into law by President Obama on Feb. 17 — features a provision titled the Military Homeowners Assistance Program (HAP). HAP benefits (normally payable only at BRAC locations) will be extended to certain military homeowners who bought homes before July 1, 2006 and who sell the homes before Sept. 30, 2012, according to MOAA.com.

HAP was originally written in response to rising foreclosures and the credit crisis, and seeks to add more than $400 million to help military homeowners who are in the middle of foreclosure, or unable to sell their homes in the event of a permanent change of station order.

What’s more, HAP will not only provide help to military homeowners who receive PCS orders and are unable to sell their homes, but will also assist wounded warriors who must relocate due to medical reasons, and surviving spouses of fallen servicemembers who are also forced to move.
to learn more visit www.recovery.org

Search here for all of your Fort Jackson and Columbia Real Estateneeds/Homes for Sale.

HOT Columbia Homes For Sale

2009-03-20T10:25:00.000-04:00

Check here daily for all of Columbia SC Real Esate and Hot properties for Sale.
Contact me to today to view any of these Homes for sale. First Time Home buyers find out about the down payment assistance programs that are available to you. Get a loan with NO money down. Also $8000.00 Tax Credit that you don't have to pay back.

Click here to view Hot New Homes in Jacobs Creek!

For all other homes for sale search here!

You Can't Beat this Deal! Two for One Deal!

2009-03-18T21:56:00.000-04:00

"First Impreessions" Employment Workshop: find out new techniques and useful catch phrases while brushing up on your resume writing; learn keys to a successful interview; and hear about various ways to begin job search.

Suits for raflle or win a chance to get gitf cards

towards the purchase of business attire

"First Time Home Bu yers" Seminar: learn from experienced professional how to prepare yourself for purchase; and learn more about the $8,000,00 Tax credit for First Time Home Buyers that does not have to be repaid. Learn how to finance your home with NO money down. Learn about VA loans, FHA loans and Conventional Loans.

No is the time to Buy a Home

Come join us and get a wealth of knowledge at one location

Location: Changing Lives Christian Center
438 Rabon RD
Columbia SC 29223

Date: March 28, 2009

First Impressions Employment Seminar starts at (9:30am-1130am)

First Time Home Buyers Starts at (11:30am - 1:30 am)

Come on out and invite a friend

Contact me today your local real estate expert:

Buying or Selling Columbia Real Esate on home at a time

Sponsored by: Changing Lives Christian Center

Click here to RSVP

or email me at buymeadehomes@gmail.com

15 Step First Time Home Buyer Guide

2009-03-18T00:18:00.000-04:00

Homes for Sale in Columbia

Complete First Time Home Buyer Guide.
The home buying process can be quite complex, even for those who have been through it a few times. For the first time home buyer, the process can seem impossible. This guide breaks down the home buying process into 15 steps, with information and resources provided to make each step achievable. Also, most states offer first time home buyer grants and low interest loans for those within specific income limits. For most people, these programs can make the difference between being able to afford your first home or not. Here are the 15 steps to buying your first home:

1. Establish good credit.The first step in the home buying process is establishing good credit. Banks and mortgage lenders will not lend to first time home buyers unless the borrower has a history of borrowing money and paying it back in a timely manner. If you have absolutely no credit references, you will need to get some. The most basic way to do this is to visit a local bank and deposit a small amount, let's say $500. You would then apply for a $500 loan, using the money that you deposited as security for the loan. This is the simplest, quickest way to establish a good credit report. If the loan term is for 6 months, make payments for the first 3 months, then pay the entire loan off. Repeat the process with larger and larger amounts. This will build up an excellent track record. Do this repeatedly, and you'll progress to a point where you don't need to deposit any money as security, your track record will be strong enough to be able to borrow with just your signature. Unless you are independently wealthy, or come from a wealthy family, the process of becoming a first time home buyer starts with establishing a good credit history. At the same time that you are building your credit with bank loans as just described, you should also be using credit cards responsibly as well. This means paying off the entire balance every month.

2. Raise your credit score.A high credit score is one of the most important elements to the first time home buyer. Home buyers with high credit scores are able to get the lowest interest rates on home mortgages. As a first time home buyer, it is doubly important to have a high credit score. Here are the basic tactics for getting a high credit score. A. Always pay your bills on time. B. Keep your credit card balances at zero, or at least very low.C. Make more than the minimum monthly payments. D. Negotiate to remove negative items from your credit report.E. Borrow great credit from a relative or close friend.
For more in depth information on raising your credit score, we suggest you send for an excellent free kit. Improving your credit score will likely take a minimum of 2 months, but will be well worth the wait. By getting a higher credit score, you will greatly increase your chances of approval on the loan as well as qualify for the lowest rates given only to those people who have the best credit rating. This complete kit is available for free. You simply pay $1.97 for shipping. We highly recommend the Free Credit Repair Kit for those in need of improving their credit score.
3. Save for a down payment & closing costs.When buying your first home, you'll need money for a down payment as well as closing costs. This applies to previous home owners as well as first time home buyers. Lenders want borrowers to have a vested interest in the property. If you've put your own money into the house, you will be less likely to walk simply away from the property. It is very important to start saving immediately. Set aside a certain amount every pay period and stick to it. Learn to live on what remains. Save now for your future, and your future will take care of you. It will be very, very beneficial to save every week, even if it is a meager amount. We strongly suggest that you open an account and discipline yourself to set aside a certain amount every week. It is a habit that will pay dividends the rest of your life. The highest rate savings account that we are currently aware of is at Washington Mutual. Switch to WaMu Free Checking and High-Yield Savings, with a 5.0% APY. Start banking with only $1 or more. Learn more. . Yes, you can open a checking account for as little as one dollar. The savings account currently pays interest at the annual percentage rate of 5.0 % per year. Even if you only save $10 per week, it is a great habit to develop. We highly suggest you discipline yourself to save a certain amount each and every week.

Click here to search for homes for sale in Columbia SC

Follow my Blog for step 4,5 and 6

Beware of Foreclosure Rescue Scams - Help Is Free!

2009-03-17T16:43:00.000-04:00

Home owners be aware of the scams thats out there. There is never a fee to get assistance or information about Making Home Affordable from your lender or a HUD-approved housing counselor.
Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay – walk away!
Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
Never make your mortgage payments to anyone other than your mortgage company without their approval.
Need urgent help? Contact the Homeowner’s HOPE Hotline: (888) 995-HOPE

Click here for Columbia Homes For Sale and all of your Real Estate needs

By Your Columbia SC Real Estate Expert
l

Foreclosure Avoidance Counseling

2009-03-14T22:24:00.000-04:00

HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure. As part of President Obama's comprehensive Homeowner Affordability and Stability Plan (HASP), you may be eligible for a special Making Home Affordable loan modification or refinance, to reduce your monthly payments and help you keep your home.If you need help understanding the Making Home Affordable programs, you can use this search tool to find a counseling agency in your area that will provide you with free foreclosure prevention services. If you are eligible for the loan modification or refinance program, the counselor will work with you to compile an intake package for your servicer.Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and Neighbor Works America. There is no need to pay a private company for these services. Visit http://www.hud.gov/ for more Info

Contact me today or visit visit my webite for all of your Real estate needs or email me at
buymeadehomes@gmail.com

Actice Duty Military

2009-03-14T01:26:00.000-04:00

Questions & Answers for Reservists, Guardsmen and Other Military Personnel
Information by State Esta página en español Print version

regarding mortgage payment relief and protection from foreclosure provided by the Servicemembers Civil Relief Act (formerly known as The Soldiers' and Sailors' Civil Relief Act of 1940).

Who Is Eligible?
The provisions of the Act apply to active duty military personnel who had a mortgage obligation prior to enlistment or prior to being ordered to active duty. This includes members of the Army, Navy, Marine Corps, Air Force, Coast Guard; commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration who are engaged in active service; reservists ordered to report for military service; persons ordered to report for induction under the Military Selective Service Act; and guardsmen called to active service for more than 30 consecutive days. In limited situations, dependents of servicemembers are also entitled to protections.
Am I Entitled To Debt Payment Relief?
The Act limits the interest that may be charged on mortgages incurred by a service member (including debts incurred jointly with a spouse) before he or she entered into active military service. Mortgage lenders must, at your request, reduce the interest rate to no more than six percent per year during the period of active military service and recalculate your payments to reflect the lower rate. This provision applies to both conventional and government-insured mortgages.
Is The Interest Rate Limitation Automatic?
No. To request this temporary interest rate reduction, you must submit a written request to your mortgage lender and include a copy of your military orders. The request may be submitted as soon as the orders are issued but must be provided to a mortgage lender no later than 180 days after the date of your release from active duty military service.
Am I Eligible Even if I Can Afford To Pay My Mortgage At A Higher Interest Rate?
If a mortgage lender believes that military service has not affected your ability to repay your mortgage, they have the right to ask a court to grant relief from the interest rate reduction. This is not very common.
What If I Can't Afford to Pay My Mortgage Even At the Lower Rate?
Your mortgage lender may allow you to stop paying the principal amount due on your loan during the period of active duty service. Lenders are not required to do this but they generally try to work with service members to keep them in their homes. You will still owe this amount but will not have to repay it until after your complete your active duty service.
Additionally, most lenders have other programs to assist borrowers who cannot make their mortgage payments. If you or your spouse find yourself in this position at any time before or after active duty service, contact your lender immediately and ask about loss mitigation options. Borrowers with FHA insured loans who are having difficulty making mortgage payments may also be eligible for special forbearance and other loss mitigation options. More information about help for homeowners who are unable to make payments on a mortgage is available on the HUD website at http://www.hud.gov/offices/hsg/sfh/econ/econ.cfm.
Am I Protected against Foreclosure?
Mortgage lenders may not foreclose, or seize property for a failure to pay a mortgage debt, while a service member is on active duty or within 90 days after the period of military service unless they have the approval of a court. In a court proceeding, the lender would be required to show that the service member's ability to repay the debt was not affected by his or her military service.
What Information Do I Need To Provide To My Lender?
When you or your representative contact your mortgage lender, you should provide the following information:

Notice that you have been called to active duty;

A copy of the orders from the military notifying you of your activation;

Your FHA case number; and

Evidence that the debt precedes your activation date.
HUD has reminded FHA lenders of their obligation to follow the Act. If notified that a borrower is on active military duty, the lender must advise the borrower or representative of the adjusted amount due, provide adjusted coupons or billings, and ensure that the adjusted payments are not returned as insufficient payments.
Will My Payments Change Later? Will I Need To Pay Back The Interest Rate "Subsidy" At A Later Date?
The change in interest rate is not a subsidy. Interest in excess of 6 percent per year that would otherwise have been charged is forgiven. However, the reduction in the interest rate and monthly payment amount only applies during the period of active duty. Once the period of active military service ends, the interest rate will revert back to the original interest rate, and the payment will be recalculated accordingly.
How Long Does The Benefit Last? Does The Period Begin And End With My Tour Of Duty?
Interest rate reductions are only for the period of active military service. Other benefits, such as postponement of monthly principal payments on the loan and restrictions on foreclosure may begin immediately upon assignment to active military service and end on the third month following the term of active duty assignment.
How Can I Learn More About Relief Available To Active Duty Military Personnel?
Read more information about the Servicemembers Civil Relief Act, sponsored by the Legal Assistance Policy Division, Office of The Judge Advocate General, U.S. Army.
Servicemembers who have questions about the SCRA or the protections that they may be entitled to may contact their unit judge advocate or installation legal assistance officer. Dependents of servicemembers can also contact or visit local military legal assistance offices where they reside. A military legal assistance office locator for each branch of the armed forces is available at http://www.hud.gov/utilities/intercept.cfm?http://legalassistance.law.af.mil/content/locator.php

view homes for sale here

Avoid Foreclosure

2009-03-14T01:19:00.000-04:00

HUD-approved housing counseling agencies are available to provide you with the information and assistance you need to avoid foreclosure. As part of President Obama's comprehensive Homeowner Affordability and Stability Plan (HASP), you may be eligible for a special Making Home Affordable loan modification or refinance, to reduce your monthly payments and help you keep your home.If you need help understanding the Making Home Affordable programs, you can use this search tool to find a counseling agency in your area that will provide you with free foreclosure prevention services. If you are eligible for the loan modification or refinance program, the counselor will work with you to compile an intake package for your servicer.Foreclosure prevention counseling services are provided free of charge by nonprofit housing counseling agencies working in partnership with the Federal Government. These agencies are funded, in part, by HUD and NeighborWorks® America. There is no need to pay a private company for these services.Please select a state from the list below and click the “Go to this page” link, or select a state from the map below. This will take you to a page with additional search criteria to help you find a conveniently located housing counseling agency.

Visit http://www.hud.gov/

How to price to sell and still make a profit

2009-03-11T10:40:00.000-04:00

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent's knowledge of the overall market and what's selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won't leave money on the table. Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops. Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.

GUARANTEED RURAL HOUSING PROGRAMDON’T JUST FINANCE IT, REPAIR IT

2009-03-10T18:24:00.000-04:00

Now Home buyers can obtain mortgage financing that covers home improvements such as a new roof, new well, new septic system, new appliances, new flooring, orupdated plumbing and electrical systems. The USDA Guaranteed Rural Housing program provides home buyers the ability to purchase their new home and finance necessary repairs at closing.

Decicding how much you can afford

2009-03-09T13:41:00.000-04:00

Deciding how much house you can afford
Your lender decides what you can borrow but you decide what you can afford.
Lenders are careful, but they make qualification decisions based on averages and formulas. They won’t understand the nuances of your lifestyle and spending patterns quite as well as you do. So, leave a little room for the unexpected – for all the new opportunities your home will give you to spend money, from furnishings, to landscaping, to repairs.
Historically, banks use a ratio called 28/36 to decide how much borrowers could borrow. An approved housing payment couldn’t be more than 28 percent of the buyer’s gross monthly income, and his or her total debt load, including car payments, student loans, and credit card payments, couldn’t be more than 36 percent. (In Canada lenders apply similar formulas to determine how much a buyer can afford. The Gross Debt Service ratio, or GDS, is not to exceed 32 percent of the buyer’s gross monthly income, and the Total Debt Service ration, or TDS, is not to exceed 40 percent of the buyer’s total debt load.) As home prices have risen, some lenders have responded by stretching these rations to as high as 50 percent. No matter how expensive your market though, we urge you to think carefully before stretching your budget quite so much.
Deciding how much you can afford should involve some careful attention to how your financial profile will change in the upcoming years. In the long run, your own peace of mind and security will matter most.

Qusetions to ask your Realtor

2009-03-09T13:39:00.000-04:00

Eight important questions to ask your agentQualifications are important. However, finding a solid, professional agent means getting beyond the resume, and into what makes an agent effective. Use the following questions as your starting point in hiring your licensed, professional real estate agent:
Why did you become a real estate agent?
Why should I work with you?
What do you do better than other real estate agents?
What process will you use to help me find the right home for my particular wants and needs?
What are the most common things that go wrong in a transaction and how would you handle them?
What are some mistakes that you think people make when buying their first home?
What other professionals do you suggest we work with and what are their credentials?
Can you provide me with references or testimonials from past clients?

First Time Home Buyer Tax Credit

2009-03-07T22:18:00.000-05:00

make homeownership a goal this year., The new stimulus package sweetens the deal for homebuyers who purchase a residence on or after January 1, 2009, and before December 1, 2009. The incentive is for first-time homebuyers who remain in their home for at least three years. It provides a credit for 10 percent of the home purchase price, up to an $8,000 limit. The credit can be taken on your 2008 or 2009 tax return.
If you close on a home after the April 15 tax deadline, you can apply for an extension provided that you close on your home before the extension deadline of October 15. The full credit applies to those first-time homebuyers whose modified adjusted income is less than $75,000 or $150,000 (filing jointly).

New Relocating Tool For Military Families

2008-08-20T23:47:00.000-04:00

Service Members Moving Just got easier!

I wish had these tools when I was in the Army.

Moving to a new community can be a stressful event for all service and family members. “This tool helps to ease that burden. It will put servicemembers and their families in direct contact with those who can help every step of the way, from their current home and community to the new one.”

When the user enters the current location, the new location and the departure date into the new application, it generates installation overviews, a three-month planning calendar, valuable travel and arrival checklists, as well as important points of contacts and family program information.

The Plan My Move tool is designed to coach servicemembers and their families through the entire moving process, step-by-step. And while most moving takes place over the summer, it’s never too early to start a plan.

Special features of Plan My Move include:

-- A planning calendar with useful information that can be customized to meet the unique needs of each move;

-- Decision tools, such as best communities to live in, best schools, and affordable housing, based on data from military and civilian comparative community studies;

-- “Smooth move” tips;

-- Special calendars for moving to or from an overseas location; and

-- Information about moving with a special-needs family member.

In addition, families will be able to access 55 directories of programs and services on installations worldwide, from the barber shop to DoD schools to the family center; maps and driving directions to most locations on the installation; overviews, photo galleries and must-know information for each installation included in the database; current local weather conditions; and extensive local community point-of-interest information.

I want to be your Realtor!
Relocating to Fort Jackson SC. Contact me today for all of your Real Estate needs

Desmond Meade

buymeadehomes@gmail.com

www.buynyhomes4sale.com

First Sergeant Retired
"Still Serving"

2008-08-20T18:01:00.000-04:00