Welcome! Chock full of really good info, feel free to take a look around. See my Zillow reviews: http://www.zillow.com/profile/lauramaeriddle/Reviews/http://www.zillow.com/profile/lauramaeriddle/Reviews/

 

Please read on, I have included information on Buying Selling and Government programs and programs from Banks. Search for a home now for free :) http://www.imrmls.com/servlet/lDisplayListings?LA=EN

 

BIG NEWS! FREE DOWN PAYMENT MONEY$$$

Free Money Grants for Home buyers are now available

 

1.) $4,000 may be available if you buy with me from SRAR if you meet generous Income restrictions ( up to $111,000 for a family of 3) and are buying a REO bank owned or a Short sale and are a first time buyer.

 

2.) Up to 3% grant (Free money) of the purchase price on a FHA Loan. You can buy for only  half a percent down. Restrictions and availability apply.

 

CHANGES IN LENDING

3.) FHA loan limits to $625,000* in high cost areas 

 

4.) Rumblings that our Government is trying to do away with all low down payment loans. The new threshold being considered is 20%. On a $300,000 home thats $60,000! Currently a 3.5% down loan is only $10,500 down on $300,000. Since over 1/3 of all home buyers put down less than that it would change home financing and make it harder for first timers and people with modest incomes buy.

 

ANOTHER GREAT REASON TO BUY:

5.) Liz Weston of MSN Money revealed that Home owners tend to be wealthier than renters. The fact is they are 10 times wealthier according to the study Ms. Weston cited.

 

6.) U.S. apartment rents climbed 5 percent in the 12 months through April, according to research company Axiometrics Inc.


If you are seriously considering buying here are a few tips to get started:

Call me and lets talk about it 818-458-9615

 

Next figure out what you can afford by visiting your bank (Chase, Wells, Credit Unions) and talking to the lender there. Take 2 months pay stubs, 2 years tax returns, and 3 months bank statements. Pretty quickly they can tell you exactly how much home you can afford. The will run your credit. If you have credit issues, get some good advice about what to do to turn that around, sometimes time is the only answer. Be careful about how much you spend and start or continue saving. A good rule of thumb is 33-40% of your gross (thats before taxes)  income.

 

If your not in So California I can get you referred to a good agent and you can start start house hunting!

 

Sellers

 

In this market you need sound advice. Heres the place to get the information you need. Thinking of selling but your home might be underwater? Call me. The Links to the actual programs might benefit you:

 

HAFA Home affordable Foreclosure alternatives http://www.makinghomeaffordable.gov/programs/exit-gracefully/Pages/hafa.aspx

 

HAMP Home Affordable Refinance Program

http://www.makinghomeaffordable.gov/programs/lower-payments/Pages/hamp.aspx

 

HARP 2.0

http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx/

 

Bank of America is offering up to $30,000 in relocation costs and lien pay off if you are doing a short sale and have a BOFA loan. Restrictions do apply.

http://mediaroom.bankofamerica.com/phoenix.zhtml?c=234503&p=irol-newsArticle&ID=1696127&highlight

 

The decision to sell a home is often dependent on many factors. Whatever your reasons are for selling, my proven effective marketing strategies will ensure that you get the highest possible price for your home. I guarantee to provide you with professional, ethical and confidential service and keep you fully informed every step of the way. Read more.

 

Laura riddle commented on Listed: MSN Real Estate's daily blog - MSN Real Estate - via MSN - Mar. 26

There are ways to fix certain problems so the condo complex can qualify for a loan. You have to get active in the association in order to do so, or if worse comes to worse sue the association to make the proper corrections. I cover this and much more in my book "Sell your home now, the complete guide to overcoming common home selling mistakes selling faster and making more money" on Amazon. If a lot of owners are delinquent on their dues the association can foreclose on those owners, and sell the units…

Laura riddle commented on 4 problems that could ruin your mortgage - MSN Real Estate - via MSN - Mar. 25

Great advice, changing jobs or making any large purchase can delay or destroy your ability to get a home loan. I cover what to watch out for when a buyer has offered on your home in my book “Sell your home now, Overcoming common selling mistakes to sell faster and for more money” on Amazon. -Laura Riddle is a Realtor/Real Estate Broker in So. California

Laura riddle commented on Is it curtains for the 30-year mortgage? - MSN Real Estate - via MSN - Mar. 25

Let’s keep in mind why Fannie and Freddie are in trouble: Guaranteeing loans they had no right to guarantee because the borrowers weren't credit worthy or the loans (interest only or stated income) were very skeptical at best. Homeownership is very good for the country provided the borrower can prove they can repay the loan unless a catastrophe happens. It’s too bad and very shortsighted and foolish that the government is considering backing away from good loans which are 30 year and 15 yr fixed with solid…

Laura riddle commented on Listed: MSN Real Estate's daily blog - MSN Real Estate - via MSN - Mar. 25

In most cases we have several parties at fault. The banks for making loans they shouldn't have made and some (not all) of the borrowers for lying about their income in SISA, SIVA, and adj. rate loans. However I don't see anyone behind this going to jail (Barney Frank for one) If the borrower was/is in the military and had to move due to relocation orders the HAP program should apply, and it needs to be expanded I think. I cover all of the government programs and other options (short sale, foreclosure,…

Laura riddle commented on Are you crazy to buy a home now? - 2 - real estate - MSN Money - via MSN - Mar. 22

Is Liz smoking the papers she's writing this article on? Normally she gives out great advice, but not with this one. First of all, her comment that people who own homes "tend" to be wealthier, and then goes on to state they are ten times wealthier, tend and ten times are not the same thing at all. I would question a financial advisor who gives advice not to buy, and then says but those who do are ten times wealthier, hmmm... Ok she does get it right when she says buy if you plan on staying put awhile,…

Laura riddle commented on The 5 worst pieces of financial advice - 2 - money goals & saving - MSN Money - via MSN - Mar. 17

Wow normally Liz has great advice but I completely disagree with her on 3.) Don’t pay off your mortgage 4.) Don’t buy a home as an investment and 1.) Don’t pay off high credit card debt. Really bad advice and I will give you real numbers so you know what I'm referring to. A $200,000 mortgage/ 30 years/ at 5% will cost you $386,511.57 over the life of that loan so basically you will pay $186,511.57 in interest unless you pay off that loan early. The numbers get even worse at 6% that same mortgage will…

Laura riddle commented on How to land a fixer-upper loan - Page 2 - MSN Real Estate - via MSN - Mar. 11

A 203K loan is a great way to buy a property that needs some work, even if it’s just cosmetic (such as paint and carpet). Closing costs for this loan will be higher than quoted in the article, FHA loans (this is an FHA loan) require the 3.5% down plus impounds and closing costs (the 3.5 is the down not the escrow or title fees), however, on a normal FHA loan you can get assistance (money :)) from the seller, your boss, or a family member-- even a god parent can qualify, or take it from your 401k, or sell…

Laura riddle commented on 7 signs that it's time to dump your real-estate agent - Page 2 - MSN Real… - via MSN - Feb. 21

In my book "Sell Your Home now" on Amazon I cover what makes a good agent. Some of the article is inaccurate here’s the real deal: An agent should find out your housing needs upfront and set you up on an auto email program asap. That way as soon as a home is listed you are notified, and can see pictures and determine if you want to see it, none of this waiting hours and the agent checking twice a day business. A designation is nice (ABR GRI) however the highest designation an agent can have is BROKER,…