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Two Government programs designed to help home owners


If you would like to stay in your home but are having trouble paying your mortgage, consider the HAMP program as an alternative to foreclosure. Contact Felipe Crook for more information at 1-866-589-1646

HAMP and HAFA Programs

If you want to stay in your home, I highly recommend you apply for the HAMP program created by the Obama administration.  What is the program about?  You can visit: Making Home Affordable.  Here's an exerpt from their website:

 "The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels.

The Home Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.

Our consumer website, www.MakingHomeAffordable.gov, provides homeowners with detailed information about these programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration's program. Through this website, borrowers can also connect with free counseling resources to help with outstanding questions; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their servicer as well as FAQs from borrowers in similar circumstances; and much more.

Recommended steps for homeowner to see if HAMP is a viable alternative to foreclosure:

  1. Complete the quick online form on the eligibility page of Making Home Affordable 
    http://www.makinghomeaffordable.gov/eligibility.html
  2. Determine if your lender is participating in HAMP by either looking them up on this page: http://www.makinghomeaffordable.gov/contact_servicer.html AND calling your lender to verify and discuss your options.
  3. HAMP has a Request a Modification process - http://www.makinghomeaffordable.gov/requestmod.shtml.  Recommend contacting your Mortgage Servicer first.

If your loan is NOT a Fannie Mae or Freddie Mac, then HAFA is the program you would use.  What is HAFA?

HAFA applies to loans not owned or guaranteed by Fannie Mae or Freddie Mac, which will issue their own versions of HAFA in coming weeks.

HAFA is a complex program, with 43 pages of guidelines and forms, designed to simplify and streamline use of short sales and deeds-in-lieu of foreclosure. HAFA:

  • Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home.
  • Uses borrower financial and hardship information already collected in connection with consideration of a loan modification.
  • Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).
  • Prohibits the servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement (up to 6 percent).
  • Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed).
  • Uses standard processes, documents, and timeframes/deadlines.
  • Provides financial incentives: $1,500 for borrower relocation assistance; $1,000 for servicers to cover administrative and processing costs; and up to $1,000 for investors for allowing a total of up to $3,000 in short sale proceeds to be distributed to subordinate lien holders (on a one-for-three matching basis).
  • Requires all servicers participating in HAMP to implement HAFA in accordance with their own written policy, consistent with investor guidelines. The policy may include factors such as the severity of the potential loss, local markets, timing of pending foreclosure actions, and borrower motivation and cooperation

For the full HAFA Guidlines click here. For frequently asked questions regarding the HAFA Program click here. The part about these programs which are hugely beneficial to clients considering doing a short sale is that the banks are required to release their right for defficiency judgement.  That is the number one reasons short sales don't move forward.  If we can eliminate that threat, we will be able to keep so many foreclosures from hitting the market which will greatly affect our prices and neighborhoods.  If you'd like to condifentially discuss your scenario, please contact Felipe Crook at 1-866-589-1646.

Prudential Americana Group Realtors

Felipe Crook

7475 W. Sahara Ave Ste 100

Las Vegas, NV 89117

 



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Posted on February 09, 2010 19:37:20 by Felipe Crook
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Remodeled Mcneil Manor Home with pool for Sale in Las Vegas Nevada 2707 Colanthe Ave


A beautiful ranch style home for sale in Mcneil Manor, a centrally located, classic, well established neighborhood. Lounge in the pool while you admire the view of the stratosphere. For more information please contact Felipe Crook at 1-866-589-1646

I just listed a very charming, remodeled home in Mcneil Manor here in Las Vegas. This neighborhood doesn't feel like you're in Las Vegas with huge trees, big lots, and great neighbors.  I am a little biased with this listing, because I live here and can vouch for how awesome it is.   This is a very centrally located neighborhood with fantastic access to I-15 and I-95, and five minutes to the strip.   It's primarily made up of single story homes, and if you're looking to escape the cookie cutter feel of the rest of Las Vegas, you need to visit this area.   The neighborhood was built in the 1960's and the average lot size is nearly a quarter of an acre. 

The new listing is on 2707 Colanthe Ave, Las Vegas NV 89102.

  • 2195 Sq ft
  • 3 Bed
  • 2.5 Bath
  • 2 Car Garage
  • Pool and Spa
  • Remodeled Kitchen with stainless steel refrigerator, double oven, and corian counter tops
  • Porcelin Tile and Pergo in main areas
  • Slate flooring in master bedroom
  • Large Jetted Tub and steam show in the master bath
  • French Doors with Roladen Security Shutter.
  • Covered Patio with great view of Stratosphere
  • Large lot dog run
  • Stacked Stone Fireplace

2707 Colanthe Ave 2707 Colanthe Ave

2707 Colanthe Ave 2707 Colanthe Ave

2707 Colanthe Ave

2707 Colanthe Ave

If you would like a private tour of this beautifully remodeled home in Mcneil Manor, please contact Felipe Crook at 1-866-589-1646 or email me at Felipe@felipecrook.com

Felipe Crook

Prudential Americana Group Realtors

Las Vegas, NV 89117

1-866-589-1646 



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Posted on February 08, 2010 18:50:01 by Felipe Crook
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Custom Home for sale in Roma Hills Henderson Nevada


Take a look at this great custom home for sale in Roma Hills, a beautiful guard gated custom neighborhood in Henderson Nevada. For a private showing or more information please contact Felipe Crook 1-866-589-1646

Roma Hills is a beautiful community in Henderson Nevada.  Full of custom homes, this guard gated community sits near the base of the southern mountains in the Las Vegas valley.  Take a look at this beautiful home for sale:

Henderson Luxury homes Nevada

Las Vegas Luxury Homes

  • 4 bed, 4 bath
  • Den/Office
  • 3427 sq ft
  • 12,197 sq foot lot
  • Pool and Spa
  • Guard Gated Community
  • Travertine Floors
  • Upgraded counter tops and cabinets
  • Much more....

ELEGANT CUSTOM SINGLE STORY*TRAVERTINE MARBLE FLOORS IN ALL LIVING AREAS*KOHLER SINKS & PLUMBING*GE MONOGRAM PROFESSIONAL GAS RANGE*TOP-LINE CABINETRY & ELECTRONICS PACKAGE*THEATER ROOM*CASITA*RAISED EDGE POOL W/SOLAR HEAT & WOK WATERFALL*GORGEOUS SEPARATE MASTER SUITE*2 BOSCH DISHWASHERS*BUILT IN COFFEE/ESPRESSO MAKER

For full details of this property, contact Felipe Crook with Prudential At 1-866-589-1646.

Felipe Crook

Prudential Americana Group Realtors

Las Vegas, NV 89117

 



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Posted on February 04, 2010 18:50:06 by Felipe Crook
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Las Vegas Housing Report for January 2010


Take a look at the latest Las Vegas Luxury home market report for January 2010. If you have any questions about the information below, please contact Felipe Crook at 1-866-589-1646.

Availability within the resale market continues to bounce within a relatively tight range as the number of listings reached 11,383 during the second week of January. The current count of available residential properties represents a modest increase of 38 units compared to the preceding week and is down 49.0 percent (10,957 units) compared to the same week of the prior year. While availability levels are well below the prior year, the number of units contracted for sale remains elevated.

 Currently, a total of 13,486 units are contracted for sale, with 10,646 homes noted as contingent while 2,840 are identified as pending. The bulk of contingent units (78.4 percent) are subject to short sales, suggesting lenders are required to release borrowers for the mortgage shortfall (i.e., difference between the net sales proceeds and the amount owed). Another 15.3 percent of contingent units are bank-owned properties, while the remaining 6.4 percent are traditional, non-distressed transactions. Given the mix of contracted properties with a contingent status, it is unlikely all units will close as planned, which may put upward pressure on the number of available listings.

The mix of properties classified as pending is much different. Pending sales are those that are awaiting

customary closing procedures to take place. A more modest 22.7 percent are short sales subject to lender

approval, while 58.9 percent are bank-owned properties. The remaining 18.4 percent are traditional, nondistressed

transactions. Consistent with previously-issued reports, we believe lenders will play an increasing role

in sales transactions going forward.

Las Vegas Housing Market

If you would like to search Las Vegas Properties Click here, or you can start your search below.  If you have any questions, or need a referral to a great mortgage professional, please call Felipe Crook toll free at 1-866-589-1646.

                                                    

Prudential Americana Group Realtors

Las Vegas NV 89117

1-866-589-1646



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Posted on February 01, 2010 20:44:03 by Felipe Crook
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Stately Georgian Revival Historic Mansion for sale in Rocky Mount, North Carolina


This beautiful historic colonial revival home in located in Rocky Mount North Carolina. It was recently appraised at over $500,000 but you can have this beautiful home for less than appraised value. For more information please contact Felipe Crook at 1-866-589-1646.

Anytime I can help a client try to sell their home in another state with some extra internet exposure, I put their home on my blog and various other websites to generate some good traffic.  Since Las Vegas doesnt' have too many "historic" homes, I thought this would be a fun thing to blog about and hopefully it will generate enough interested to bring a buyer for this very cool mansion. Here's a description about the home:

STATELY GEORGIAN REVIVAL MANISON
ROCKY MOUNT, NORTH CAROLINA

STOP: $8,000.00 TAX CREDIT FIRST TIME BUYERS; $6,000.00 TAX CREDIT FOR OTHER BUYERS EXPIRES 4/15/2010


Take a SECOND LOOK at this Large Eligant Historical Home Now FHA will permit lenders to use the $8,000.00 or $6,000.00 tax credit to either cover closing cost or make a Larger Down payment. Seller will credit another $20,000.00 in escrow to be applied to down payment. This may assist you in qualifying for a Home Loan. Just recently in the "Raleigh Metro Magazine" it states and I quote, "Talk about location, location, location a city of 60,000 residents is situated at the geographic junction of North Carolina's Piedmont and Coastal Plains, where temperate climate, scenic beauty and good cropland abound, it is at the intersection of three major highways US 301, Interstate 95 and US 64 only 45 minutes from Raleigh and midway between New York, NY and Jacksonville, FL." The magizine went on in great detail about the many amenities in Rocky Mount as well as sport facilities. This Historical Home is a gem and located in the Historical District in Rocky Mount, North Carolina. The street is lined with beautiful Historical Homes. This Mansion is circa 1924, two stories plus a finished attic and has a basement. The Home was built by Kate Arrinton a wealthy socialite for entertaining.
The room are large and with wide crown molding. It has a cedar lined closet as well as an EXTREMELY LARGE Walk-In Closet and a BEAUTIFUL Staircase, five fireplaces, 10 foot high ceilings and a large kitchen with a butler's pantry. The Home has a carport attached to the house and a garage with a carriage house. This Home has 2 Master Suites one with a large Walk-In Closet and Fireplace.
This Home has been lovingly maintained throughout the years and updated with two central heating and air conditioning, one zone on each floor with computerized thermostats.
It has its Original Slate Roof which is in EXCELLENT CONDITION. The Home has French Door leading from the Formal Living Room into the Hall and Dining Room. Some of the original light fixtures others Chandeliers for formal areas were custom made in Murano, Italy of BEAUTIFUL crystal for the period of the house.
The Home has the ORIGINAL Hardwood Floors in Excellent Condition, NEW Custom Window Shades and Drapes and Curtains that conform to the period.
This Home has the ORIGINAL Bathroom Tile Floors, Bathtub and NEW Pedestal Sinks that conform to the period as well as new faucets.
This Home is in walking distance of the NEW Braswell Public Library and the NEW Multi Million Dollar Imperial Art Center as well as a 10 minute drive to other locations for shopping as well as dining as we as several movie theaters. This Area is the part of the United States that is green as well as in a short driving distance of the BEAUTIFUL Coast for boating, fishing, etc. If you would enjoy a Large Solid Infrastructure House, then you could make this Beautiful Home your next one in Rocky Mount the homes are selling for over $200.00 per square foot, this Large Home is priced at less than $100.00 per square foot. you will appreciate the WONDERFUL ELEGANCE of Large Rooms for your Family and Guests. The schools here are VERY GOOD, there is private as well as 2 public schools that were just awarded as 2 of the BEST in the United States by U.S. News and Would Report, so for families or for entertaining this home would be perfect. Unlike many Historical Homes throughout the United States that have been altered or turned into apartments this BEAUTIFUL Home has never been altered and the Historical significance and integrity is in tack. If you would like a copy of the article in the Raleigh Metro Magazine and are interested in this Home you may email me.
I will assist you in owning this Beautiful Home. Seller will consider carrying a Second Trust Deed for qualified buyers. There will be NO Greater Time to purchase a Home than NOW if you are a first time buyer you will receive an $8,000.00 Tax Credit or Refund. Interest rates are low and loans will be easy to get now that the Federal Government has bailout to banks to make loans available to purchasers buying homes. This Home is priced under appraisal and less than $100.00 per square foot. NO REASONABLE OFFER REFUSED, Not in Foreclosure or Pre-Foreclosure. This is due to family illness in another state. Interest rates are low, here is your chance to own a bit of History in this EXCELLENT CONDITION Home. Seller will furnish HOME WARRANTY.

Here are a few pictures:

Historic Mansion for Sale in Rocky Mount North CarolinaHistoric Mansion for Sale in Rocky Mount North Carolina

STATELY GEORGIAN REVIVAL MANISON Historic Mansion for Sale in Rocky Mount North Carolina

Here are a few more specs on this Historic Mansion in Rocky Mount, North Carolina:

STATELY GEORGIAN REVIVAL MANSION

$399,900.00 Under Appraisal Bedrooms: 5
Full Bath(s): 3
Heated Sq. Ft.: 4200
Unheated Sq. Ft.: 1900
Stories: 2.5

Acres: 0.340

Listing #: 2310

  • 1st Floor Bath
  • 1st Floor Bedroom
  • Attic
  • Crawl Space
  • Dining room
  • Entry Hall
  • Kitchen
  • Laundry Room
  • Living room
  • Sunroom
  • Unfinished Basement
  • 2 Car Garage
  • Automatic outside lights
  • Casement windows
  • Fenced Yard
  • Garden
  • Guest House
  • Patio
  • Restored exterior
  • Storage Building
  • Storm Windows
  • Wrap Around Porch
  • Built-in Bookcases
  • Built-in Cabinets
  • Ceiling Fans
  • Ceramic Tile
  • Grand staircase
  • Original wood windows
  • Transoms
  • Walk-In Closets
  • Wood floors
  • Central air
  • City sewer
  • City water supply
  • Dishwasher
  • Disposal
  • Gas heating
  • Range
  • Refrigerator
  • Security System
  • Water Heater - Gas
  • - Included in Selling Price -
  • 1-Closet Cedar Lined
  • 5-Fireplaces
  • Bar-B-Que
  • Butler's Pantry
  • Custom King Size Bed Cover Matching Window Treatments
  • Driveway-Brick & Grass
  • Library
  • Maytag Washer/Dryer
  • Microwave
  • Some Furniture Maybe Purchased or Included upon Inquiry
  • Stove
  • Up-Stairs Master Bedroom has Large Walk-In Closet & Fireplace
  • Jackson & Perkins Prize Roses
  • Master bedroom downstairs
  • Master bedroom upstairs
  • Slate Roof
  • Tin Roof

If you have any questions about this property, please feel free to give me a call toll free at 1-866-589-1646 and I will get you any information you need.  Enjoy all the history in this lovely home.

Felipe Crook

Prudential Americana Group Realtors

Las Vegas, NV 89117

1-866-589-1646

felipe@felipecrook.com



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Posted on February 01, 2010 13:51:35 by Felipe Crook

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