When showing your home, appearance, smell, and cleanliness are everything. Your home should be clean and appear move in ready. Smell is the first thing potential buyers notice. Keep your home smelling great by regularly mopping, vacuuming, and dusting. Make sure to wash down every surface. If you need help with getting all those nooks and crannies clean, it might be time to hire a professional cleaning crew.

Staging and room appropriate are important when getting your home ready for sale. What you have listed and what buyers see should match up. If your home is listed as a 3 bedroom, 2 bathroom house, it should reflect it. When selling your home, the exterior living spaces are just as important as the interior. Staging can help create a warm and homey atmosphere with just the addition of plants, vanilla scented candles or simple furniture sets. Mock set ups are another great way to liven up a room and give a buyer that homey feeling.

Lastly, take a step back and put yourself in the shoes of a potential buyer looking for a home. You may be used to how your home looks while a potential buyer will not be. This perspective may prevent you from noticing needed changes, while a potential buyer may spot needed changes instantly. Bring in a pair of fresh eyes to give an unbiased opinion on the changes that it still may need. From removing clutter, newly painted rooms, to simply having an unbiased observer, you can create changes that pay off in the long run.

Whether you plan to sell to downsize, avoid foreclosure, follow a job opportunity, or move up, be sure to keep these tips in mind.  Contact us today for more tips to ensure a smooth sale of your home!

Even though our foreclosures are significantly down, they still represent 15 percent of total home sales in our market. Short sales represent 66 percent.

Today, banks are incentivizing homeowners who are short selling their homes. They are also streamlining the approval process in order to approve a greater number of short sales. In addition banks are also offering relocation assistance on top of the existing federal and state programs.

As a Certified Distressed Property Expert, I am experienced in helping homeowners avoid the negative and long-lasting effects of foreclosure.  Contact me today in order to schedule a free no obligation consultation.

 The new building, Allred Park Place, will join three other office complexes in the area. The company is also buying the former Kuiper Dairy Farm, which consists of 65-acres of land for a different project. Combined, these new projects will bring more than 1 million square feet of new commercial space to the area of Chandler.

 This is more great news for Chandler, as it is already one of the few cities where it is possible to both live and work. It has access to both the Loop 101 & 202 freeways, as well as lots of shopping, dining, and entertainment. Now is a great time to purchase either an investment or primary home in Chandler as our inventory has declined 54 percent to a 2 month supply. Days on market are also down from 118 to 89 days. Prices are appreciating, and homes are selling for 97.5% of list price.

 Contact us today for more information on how to get started on your next great home!

Distressed homes have either gone through foreclosure or are put on the market by the homeowner as a “short sale”. A short sale means that the homeowner can no longer afford to pay the mortgage on their home, and the mortgage is greater than the current market value of the home.  The homeowner’s lender then agrees to accept less than the outstanding loan instead of going through the foreclosure process.

These two types of sales are very different from traditional sales – they usually have a lot more paperwork, and in the case of a short sale, a much longer transaction. If you don’t have a qualified agent to represent you, these transactions can potentially be very frustrating.  Most buyers will shy away from these sales for the above reasons.

As a Certified Distressed Property Expert, both I and my team are experienced in navigating the potential pitfalls that these types of transactions have.  We can help you find some of the best deals in our current market.  Regardless if the property is distressed or not, this is an amazing time to buy a home.  Incredibly low interest rates combined with low property values will provide you with a great bargain every time.

One of the best advantages of buying a distressed property is that the seller is highly motivated to sell.  Banks are looking to remove the liability in the case of a foreclosure and a homeowner in financial trouble will want to get out of a mortgage they can’t afford. These sales are also much less emotional, and won’t be offended if your offer comes in below list price.

That’s not to say that your offer would be accepted – with low inventory, bidding wars are beginning to break out on many of these homes.  So if you’re looking for a true “steal”, chances are you aren’t going to find it.  Both buyers and investors are looking to take advantage of the great opportunities our market has to offer, so any home in move-in ready condition is going to go quickly.

One of the biggest disadvantages for short sales is their transaction times.  Sometimes, it can be difficult to determine who the investor is on the back end of the loan, and there may be two mortgage insurance companies – one on the homeowner’s loan, and another as an additional insurance that the mortgagor provides when multiple notes are bundled together and sold on the secondary market. 

A disadvantage to foreclosures is that some of them can be in rough condition.  Most foreclosures have been vacant for a while with little-to-no maintenance.  The previous owners could also have damaged the property, or taken fixtures from the property. Any renovations to a home can also make buyers uneasy.

With any transaction, it’s critical to have a professional home inspection prior to finalizing your purchase.  The AAR Residential Resale contract has a 10 day inspection period for the buyer to unilaterally cancel if there are items that come up in the inspection that they are unwilling or unable to fix.  It’s also in the buyer’s best interest to be pre-qualified – offers without one will often not even be considered. The McKinley Group has strong working relationships with several lenders who excel in navigating the difficulties that can arise in distressed property sales, and work on which is the best loan program and rate for you.

There are also a few different types of foreclosures depending on the type of mortgage that the previous homeowner had.  If the previous mortgage was an FHA-insured loan, then the US Department of Housing & Urban Development (HUD) is the seller. Only an agent who is registered with HUD, like our buyer’s representatives at The McKinley Group, can present an offer on behalf of their clients. One advantage of HUD homes for primary home buyers is that they have a 30 day restriction on investor offers.  A conventional loan can end up with Fannie Mae or Freddie Mac as the seller, who also have a time restriction on investor offers, but their time restriction is only 15 days.

If you’re interested in purchasing a distressed property, be sure to contact us today to get an experienced, knowledgeable, and qualified agent to help you through this process. 

Hire A Professional. A challenging market makes it difficult for sellers to be able to sell their home on their own.  Hiring a professional who will help with pricing, negotiating contracts, bringing in possible buyers, and marketing your home will get you the best deal available.

Disclose. Do you happen to live near an airport? Was your home built prior to 1978, and as such requires disclosure about lead based paint? Have you ever had a pest infestation? Everything about your current home needs to be disclosed to the buyers – not doing so can get you in trouble.

Be Realistic About Pricing. It’s much better to be realistic about pricing your home initially than having an overpriced home sit on the market for a couple of months before doing a price reduction.  Well-priced, new listings are going to receive the most traffic from potential buyers.

Be Less Emotionally Involved.  Many sellers attach sentimental value to their homes. Where a seller recalls a treasured memory, a buyer will see something that needs to be updated.  This emotional attachment makes it difficult for sellers to make reasonable decisions about their home.

Be Involved. While you’ve hired a professional to help you, understanding the process of selling you home is important.  Always make sure to contact your agent if you have any questions or concerns.

Stage Your Home.  This is the perfect way for buyers to see the true potential of your home. Most homes don’t need professional staging, so this means that you may have to tone down your personal style and pack away any clutter or extraneous décor.

Don’t Be Inclined to Hover. Many sellers will put a lot of work into staging and getting their home ready to go on the market. They may want to hang around to hear potential buyer’s feedback on their efforts during showings or open houses.  Potential buyers find this uncomfortable.  Be sure to make yourself scarce during showings of any kind.

Be Ready For Your Next Step. Have you decided to purchase another home? Will you be renting?  Make sure to be ready for your next step, as some buyers will need less time to close than others.

Be Flexible. The current market is very challenging for many sellers, which means that you must be open and willing to negotiate on price and terms. 

Be Positive. Don’t get discouraged! Work with the feedback you receive from agents and their potential buyers. If you follow these tips, you definitely will find a buyer!

Whether you plan to sell to downsize, avoid foreclosure, follow a job opportunity, or move up, be sure to keep these tips in mind.  Contact us today for more tips to ensure a smooth sale of your home!

In Goodyear, both the Cancer Treatment Centers of America and West Valley Hospital have submitted plans for expansion.  As well, construction of a new Dick’s Sporting Goods distribution center will be nearing completion.  Dick’s Sporting Goods intends to start hiring new employees in late summer or early fall, and the distribution center will supply Dick’s stores in the West. The city is also noticing decreasing retail vacancies, and an increased amount of new home permits.

In Buckeye, the town is opening its first Park and Ride to help with the commute from Buckeye to Phoenix.  The new Park and Ride will be opening on January 23^rd, and is located on the Southwestern corner of Jackrabbit Trail and Palm Lane.  The construction of the new fire station in Verrado community is expected to be completed in March, with a grand opening planned for April.

In Tolleson, the city is looking to build its La Entrada development.  La Entrada is a $9 million, 5.5 acre cultural and retail center located off of 91^st Avenue and Van Buren. 

For the entire West Valley, construction on the next multi-level freeway interchange will begin this year.  The interchange will connect the I-10 directly to the Loop 303 near Cotton Lane in Goodyear.  The Loop 303 will also be receiving improved six-lane segments between Thompson Road and Grand Avenue.  The project is expected to be completed and open to traffic in 2014.

In Mesa, Benedictine University, a private four-year institution, was proud to announce yesterday that it hopes to begin offering classes in downtown Mesa in the fall of 2013.  They plan to move into the old Tri-City Service Center building, and then grow to a 1,500-student residential campus by its 10^th year of operations. Establishment for a Mesa campus is pending based on secular and church approval, along with a permit from the Arizona State Board for Private Postsecondary Education.  If approved, the move will coincide with the plans for expansion of the light rail, which is expected to begin operating mid-decade.

In Chandler, the developer for the luxury townhomes in San Marcos will start construction on the last phase of the San Marcos Townhomes beginning next month.   They will be the same as the first phases built nearly four years ago, but at a much lower price – beginning from the upper $100,000’s as opposed to being sold in the mid $300,000’s.  The developer, Desert Viking, also announced plans for more shops, restaurants, and a parking garage in downtown Chandler, after construction on the townhomes are completed.

This news for our local economy means great things for our residential housing market.  Low home prices combined with record-low interest rates make any purchase an amazing deal, regardless if your plan is to purchase as a homeowner or as an investor.  Rental vacancies are incredibly low and still expected to decrease, and housing will become more desirable as these new development plans bring more life back into our community.  Remember, as a full-service real estate brokerage we offer buyer, seller, investor, and property management services.  Contact us today for any of your real estate needs!

Michael Labout, regional vice president for the National Association of Realtors says although these incentives are great they “don’t actually make the deal.” He recalls one seller who offered his Cadillac El Dorado in a real estate deal. They will do whatever they think to try and have agents bring in people to look.

Some sellers might be convinced that the extra buyers these incentives bring in the more they feel it is worth it. Here are a few popular seller incentives that are catching on:

•  Gift Card to a home improvement store.

•  Covering some if not all of the closing costs.

•  Offering to pay for a home warranty.

•  Paying the homeowners association fee.

•  Offering a selling agent bonus of $2,000 or even $3,000 bonus to the buyer’s agent. This would help get more traffic in your home which would result in getting a potential buyer.

  It’s really something to think about. If in fact you can get buyers in the door then you know your odds are greater that one of those people who walk in are going to be your potential buyer. For more home selling tips, please call us today at 480-355-8645.

For more detailed information and help with your current situation,

please do not hestate to contact me direct at 480-355-8645.

The question is which places are investors targeting in their home search? Point2homes.com evaluated where buyers from oversees are looking online to see possible home purchasing patterns that are current and for the future.

Here is the list of the top 10 cities for international traffic online by international buyers that were in the third quarter.

1. Las Vegas, Nev.

2. Orlando, Fla.

3. Kissimmee, Fla.

4. Detroit, Mich.

5. Pompano-Beach, Fla.

6. Miami, Fla.

7. Mesa, Ariz.

8. Davenport, Fla.

9. Phoenix

10. Indio, Calif.

Overall Canadian investors made up over 91% international traffic to Arizona listings.  As you can see on the list Mesa ranked #7 and Phoenix came in at #9.

This again just proves things are getting better. Investors are actually helping the market improve. Investors are buying whether it’s a short sale or traditional, which in turn is helping homeowners who are struggling. So it relieves the homeowner and the investor is also happy with their find. It becomes a win win for everyone. No one loses!!

Contact us Today!

Believe it or not the damage to your financial health is less severe when a short sale occurs vs. foreclosure. In doing a short sale your credit drops less than it would in a foreclosure. Any remaining debt is usually forgiven by the lender which allows them to free up important monthly resources so that you can start life over after the short sale.
Your short sale remains on your credit score for about two years, but its negative impact can be diminished in much less time. Your credit score can easily be restored using credit restoration tips and services. That says a lot for a short sale.

Foreclosure is a much harder route. It is physically, mentally and financially harder on a person than going ahead and doing a short sale. No one wants more stress added to what is already going to be a difficult decision. So if you are in a situation where it looks like you just have no other options, hold your head up high and know there is a better solution than foreclosure. It’s called a short sale!

For more information contact us today or call 480-821-5700!

Regardless of what happens in Washington or on Wall Street, two things are very clear: you are not alone and now is the time to prepare for a new normal.

With a national epidemic of unemployment or underemployment, and 25 percent of the homeowners in the country owing more on their home than they could net for it in today’s market, homeownership for many has become a financial liability. Not being able to make payments on a home that you can’t afford to sell feels like an awful trap, but the fact is, there are solutions—and foreclosing on your mortgage is not one of them.

Loan modification is an option for many and banks are increasingly willing to negotiate short sales. In many cases, they’re offering sizable financial incentives to help financially strapped homeowners to get a fresh start on their lives.

As real estate professional who has achieved the Certified Distressed Property Expert (CDPE) designation, it is my mission to give homeowners the gift of a fresh start. 

Contact me TODAY and let’s get started.

Mesa Mormon Temple Christmas Lights, Mesa                 Through Dec 25^th

The Temple Gardens Christmas Lights and Concert Series features half-hour concerts, featuring a variety of groups and musical styles, presented at 7 pm each evening.  Grounds lit from 5:00 to 10:30 pm nightly. 

525 E. Main Street, Mesa.  480-964-7164                                                                                    FREE

Las Noches de Las Luminarias, Phoenix                                        Dec 1^st-30^th

8,000 hand-lit luminarias line the Desert Botanical Gardens. Entertainment & Food.  5:30-9:30pm    

1201 N. Galvin Pkwy in Phoenix.  480-941-1225                      Adults - $25 Children 3-12 $12.50  

Zoolights, Phoenix                                                             Through Jan 1^st

Over 2 million lights illuminate the Phoenix Zoo in fun-filled structures.  5-9pm, 11/25-12/11 Friday-Sunday, 12/16-1/1 every night except for December 24, 25, & 31 

455 N. Galvin Pkwy, Phoenix.  602-914-4333                         FREE Admission, Parking Fee $16

McCormick-Stillman Railroad Park, Scottsdale                                  Dec 9^th-30^th

Guests take a train ride through more than 10,000 lights and an array of holiday displays. Opening night festivities include a tree-lighting ceremony and a visit from Santa, who makes appearances at the park through Dec. 23rd.  6:30 to 9pm nightly -except December 24 & 25. 

4289 N. Hayden Rd. Scottsdale. 480-312-2312                                                             Train rides $2

APS Fantasy of Lights Boat Parade, Tempe Town Lake                         Dec 10^th

Thousands of sparkling lights on boats decorated with a holiday theme.  Special LED display on Tempe Town Lake Bridge.  Santa arrives at 6 pm, parade begins at 7 p.m.  

80 W. Rio Salado Parkway , Tempe. 480-921-2300                                                                     Free

Celebrate the Holidays in Chandler                                                          Dec 3rd - January 2nd

Thousands of people each year come to downtown Chandler, Arizona for the annual Chandler Parade of Lights and the Tumbleweed Tree Lighting. The 2011 Tumbleweed Tree Lighting and Parade of Lights has been designated as a 2012 Arizona Centennial Designated Event.

Downtown Chandler, Arizona Avenue and Chandler Blvds., AJ Chandler Park                        Free

Wishing joy, love, and laughter to you and yours.

Happy Holidays and Happy New Year!

If you look at the Wall Street Journal’s third quarter survey, it shows that housing-market conditions in 28 of the nation’s largest metropolitan areas have seen declined home values. Meanwhile, rent levels have increased and with mortgage rates hovering around 4%, the lowest they have been in about six decades, it makes for a great time to purchase in the Phoenix real estate market as Phoenix is listed as one of those cities. 

The Wall Street Journal also researched and reported that the monthly mortgage payments on the median priced home including tax and insurance are lower now than the average rent levels. Owning your home carries costs such as taxes, insurance, homeowner association dues and maintenance. This should not discourage potential Buyers from owning as the benefits of owning a home include tax write-offs and building equity over time. The Investor Buyer gets to write-off all of these cost’s against their rental income, another added benefit seeing there are no deductions against interest or dividend earnings.

The mortgage rate is the biggest reason why affordability has continued to improve. Did you know in 1991 a $1,700 mortgage payment allowed a borrower to take out a $200,000 mortgage. Today it would get a homeowner $350,000 mortgage. That’s a 77% increase in purchasing power!

The 28 cities that are listed in The Wall Street Journal saw homes listed for sale have gone down from a year ago. It was an unbelievable 40% drop in Phoenix. The drop in inventory, plus the affordability are starting to create great demand in the Phoenix market. 

In essence we will see it start getting better. It’s already better then it was last year. For more information about Buying in the Phoenix market or local market statistics, please contact us today or call 480-355-8645.

Tickets for the event are $17 or $20 at the gate. Tempe residents can purchase up to four tickets for as low as $5 per ticket. Considering the exciting line-up of both local and mainstream musicians, vendors, dancing, contests and fun, even $20 per ticket is quite a bargain. Plus, you won’t have to worry about taking a cab if you take advantage of Valley Metro’s bus service, or hop on the light rail. The event begins at 5:00 p.m. and wraps up around 12:30 a.m., January 1^st, 2012. So mark your calendars and get your tickets soon, this is one party you will not want to miss!

Finally some good news for the Phoenix market! The Phoenix metro area is showing signs of the real estate market improving. If you look at Realtor.com, the proof is there. KPHO Channel 5 did a story on this. They reported that the sale price for a home in the Phoenix and Mesa area in October 2011 was $157,675. That’s more than five percent higher than it was in September 2011. Now the average list price for a home in the valley is $189,900.

The number of homes on the market now has also dropped. The number of active listings is basically down 48% since October of 2010. That says a lot about our economy and the housing market is showing signs of recovery.

Homes are now selling much faster than they did one year ago. A typical home stays on the market for about 62 days. Now just might be the right time for you to think about getting the house you’ve always wanted, whether it be moving up for some much needed space or downsizing due to being an empty nester.  Maybe you just need a change and selling your home might be just what the doctor ordered.   

Affordability is optimal with interest rates below 4% for a 30 year fixed mortgage. Five years ago, the average rate was 5.375%, today there are hovering around 4%. The saving experienced is twofold with the decline in housing over 5 years ago along with the drop in rate. Using the example above for a $157,000 sales price, that savings when purchasing at the lower interest rate is $130 a month in interest savings!!

Other interesting news for the Phoenix area is that we are the sixth most-searched market in the country on Realtor.com. Overall things really do seem to be looking up. It’s definitely something to be thankful for this Thanksgiving Holiday.

For more information regarding the housing market and the opportunities available, please call us today at 480-821-5700

The unparalleled benefit of real estate is leverage.   Leverage allows the investor to have a much higher rate of return on the investment than any money invested in stocks, bonds, or mutual funds.  Consider the purchase of a property for $110,000 with a 20% down payment.  In the first example, the investor waited until the property appreciated 5% and sold the asset. Appreciation is for the entire investment, and because you only consider the return on the money invested, that begets a rate of return of 25%.  Alternatively, the investor could hold and lease the property.  If the property was rented for $1,100/month, the rate of return would be 21.5%. These two rates of return if the investor paid cash for the entire investment (like a bond, stock, or mutual fund) would be 5% and 8.86% respectively. 

Not bad in any market.

Experts agree that the combination of low property values, historically low interest rates, and availability of inventory have contributed to the best real estate investment environment in decades in the Phoenix area. Contact us today if you’re considering investing in real estate and expanding your investment portfolio.  As Certified Investor Agent Specialists, we are experienced in working with investors and can answer any questions you may have!

A 54,000 sqare foot facility located on the southern edge of Kiwanis Park, the Kiwanis Recreation Center is easy to get to from downtown Tempe. Plus, with a wide range of activities to choose from, you can try something different each day to keep your workout fun and interesting. The newly refurbished gymnasium houses both basketball and volleyball courts. Outside the recreation center you’ll find tennis courts, a 10-cage batting range, large picnic areas and sand volleyball pits.

The Kiwanis Recreation Center has fifteen lighted tennis courts for drop-in play, or you can reserve a court for yourself and a friend. If you’re new to the sport you can sign up for to take a class through the recreation center for less than most private lessons. There are picnic areas just outside the tennis area offering a shady place to eat lunch and watch pick-up matches. During the summer, kids love to cool off in the wave pool at Kiwanis Recreation center. Flanked by two fifteen foot spiral slides, the wave pool provides hours of aquatic fun for kids and adults alike. The fitness pool includes six lanes for lap swimming and water aerobic classes.

Aside from exercising, one can get CPR training and young people can take babysitting courses at the Kiwanis Recreation Center. In addition to daily classes and programs, the Kiwanis Recreation Center also offers Birthday Party Packages for up to 45 people.

The Kiwanis Recreation Center is open from 7:00 a.m. to 10:00 p.m. Monday through Thursday, and 8:00 a.m. to 6:00 p.m. on Saturdays; Sunday hours are 9:00 a.m. to 4:00 p.m.

If you are thinking about buying or selling Tempe real estate, give us a call at (480) 355-8645 or send us an email to explore your options and to find out when is the best time for you to make a move.

While the first two qualifications are clear-cut, there have been several court cases to define what “utilized as a dwelling” means.  According to a 1986 court case, the meaning was expanded to include owners of tenant-occupied rental properties as long as their properties meet the first two qualifications.  What some small investor’s don’t realize is that if their home is vacant for a period of time, they can be pursued for a deficiency judgment.  If you are an investor of a vacant property and are concerned about the possibility of a deficiency judgment, please contact your attorney.

Conversely, even though Arizona is an anti-deficiency state, the lender can still make a condition of the short sale approval letter that the owner is to sign a promissory note for help cover the difference.  However, the approval letter from the lender can have verbiage that the lender agrees to not pursue the homeowner for the difference.  This is an extra measure of protection for the homeowner who can already be in a financial hardship. 

Regardless of the anti-deficiency statues for Arizona, short sales are less detrimental than foreclosures to the owner. Short sales have a lower impact on credit scores, time to qualify for future home loans, credit history, and more.  Short sales are typically reported to the credit bureaus as "Paid in Full for less than the Amount Owed" so there is no risk to current or future employment or security clearance.  There are also multiple government and lender programs that are looking to help the homeowner through the short sale process by offering relocation incentives. 

As one of the first Certified Distressed Property Experts in Arizona, I have been successfully helping homeowners short sell their homes since 2004. Contact me today at 480-355-8645 or gina@locatearizonahomes.com for a free short sale consultation!

• Makinghomesaffordable.gov
• HAFA Short Sale Program
• Savingmyazhome.gov
• Chase Bank Offers up to $30,000
• Bank of America Offers up to $20,000
• Debt Relief Act of 2007

Makinghomesaffordable.gov is a fabulous website that gives great information. The HAFA Short Sale program is a great option that offers relocation assistance of $4,500. Savingmyazhome.gov is another website that has incredible information.

Chase Bank offers up to $30,000 to short sale your home.  Bank of America also offers up to $20,000.  The Debt Relief Act of 2007 can exempt debt forgiveness. Again there are so many programs and information for you to take advantage of.  I know at least one of these will work for you.

Time is of the essence. All of these programs will end on December 31, 2012.  Take advantage of these now while they are being offered as it takes at least 4-6 months to complete.

HARP 2.0, as the media has started to refer to it, has some merit, but it’s scope is very limited and it will have little or no impact on foreclosures or the estimated 6.4 million homeowners nationwide who are behind on their mortgage payments. The new HARP just expands the net of those who were eligible for help under the original version.

HARP was created in 2009 to help borrowers whose loans were backed by Fannie Mae, Freddie Mac or the FHA, but did not have enough equity or negative equity to refinance. Under the original version of HARP, borrowers who were current on their payments and owed up to 125 percent of the current value of their homes could refinance their mortgage.

The original HARP fell short of expectations. Over the past two and a half years, only 838,000 homeowners have benefited from the program. The new HARP has broadened the base with looser eligibility requirements.

Borrowers with FHA, Fannie Mae or Freddie Mac mortgages that were sold to Fannie or Freddie before May 31, 2009, will be able to refinance, no matter how far underwater they are. Banks will only have to verify that borrowers have made their last six payments, that they’ve haven’t missed more than one payment over the past year, and that they have a job or another source of regular income.

Other key changes:

• Appraisals are no longer required if there is a reliable automated valuation model (AVM)–a significant hurdle in the previous plan.
• Risk-based fees have been eliminated for borrowers who refinance to 15-year mortgages.
• Existing mortgage insurance coverage can be transferred much easier than under the original HARP.

While the new HARP won’t help homeowners who are behind on their payments and at risk for foreclosure, it is a welcome relief for homeowners who have been caught in the Catch-22 of not being able to refinance because they owe more on their mortgage than their home is worth, and at the same time, don’t qualify for a short sale or a loan mod because they are current on their payments and still have  income and assets.

More money into the pockets of this segment will mean more dollars back into the economy, potentially heading off strategic defaults and keeping and stemming the tide of homes entering the foreclosure pipeline. 

To determine whether your mortgages is guaranteed by Fannie Mae or Freddie Mac?  Go to:
http:loanlookup.fanniemae.com/loanlookup/
https://ww3.freddiemac.com/corporate

For more information regarding the refiance program  or if you are late on your mortgage and need assistance to avoid foreclosure, please contact us today at 480-355-8645.