Baldwin County Alabama
Baldwin County Alabama
This category currently has 39 blog entries.
Mon, Aug 25, 2008
Financing Solutions with David Reed
Family loans remain a solid down payment option
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The Federal Housing Administration (FHA) recently altered its guidelines as a result of the Economic and Housing Recovery Act of 2008. One significant change was the elimination of the seller-funded down payment assistance program. Often used by builders through non-profit organizations such as Nehemiah and Ameridream, this program enabled the seller of a property (either an individual or a builder) to “donate” an amount equal to the funds needed by a buyer for a down payment on a home...
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Mon, Aug 18, 2008
Financing Solutions with David Reed
Help has arrived: U.S. Congress comes through with relief
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The Housing and Economic Recovery Act of 2008, the most sweeping housing legislation since the Depression era, was passed by the U.S. Senate and House of Representatives at the end of last month and was signed into law by President Bush. The new law addresses various aspects of the housing downturn, including assistance for homeowners who are behind on their mortgages, federal oversight of Fannie Mae and Freddie Mac, and funding for cities to buy and fix up foreclosed...
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Thu, Aug 14, 2008
Rock Creek Subdivision, 117 Cedar Pointe, Fairhope, AL
BEST PRICE IN ROCK CREEK (under $120.00 per sq. ft.)Great 4 bd.3 1/2 bath home w/ office. Master and Office downstairs,3 large bdrms with walk-in closets and 2 baths upstairs. Scored floors throughout the downstairs. Formal din.oversized garage. ALL STUCCO MAINTENANCE IS UP TO DATE WITH 5 YR. WARRANTY. (STUCCO IS CONCRETE BOARD NO EIFS) Seller also to furnish home warranty.
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Mon, Aug 11, 2008
Financing Solutions with David Reed
A bad wrap!
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We’ve all heard the term, “wrap around,” but what exactly does it mean? A wrap around mortgage, or simply a “wrap,” is an agreement where the buyer of a property makes monthly payments to the seller of a property, who then pays the original lender each month. This is perceived as a way of an owner “selling” a property to a buyer without the buyer obtaining conventional financing.
While a wrap can be viewed as a traditional sale, in reality it’s anything but.
All mortgage loans contain a “due on sale” clause. That means if...
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Mon, Aug 04, 2008
Financing Solutions with David Reed
Getting a cash gift? Lucky you!
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Getting a gift in the form of cold, hard cash to buy real estate is a wonderful thing. Gift funds are a common way parents help their kids buy a home, but there are certain requirements to follow to ensure the gift transfer goes smoothly.
What exactly is a cash gift? Technically, it is a transfer of funds from one party to another without any expectation of being paid back. This non-repayment factor is a key element because lenders can’t accurately calculate debt ratios if the gift is in fact a loan....
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Mon, Jul 28, 2008
Financing Solutions with David Reed
Credit issues? Your lender can help.
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We frequently hear we’re supposed to regularly check our credit reports. And staying on top of this is especially important when starting to shop for a new home. There are three main credit bureaus: Equifax, Experian, and TransUnion. These bureaus store consumer credit histories by the millions, and hundreds of thousands of businesses tap these bureaus for their data about you. Unfortunately, mistakes can happen. Especially if you’re not the only “Bob Johnson” or “Susan Smith” who lives in St. Louis.
Let’s say you receive a...
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Sun, Jul 27, 2008
Legacy Key #903 29235 Perdido Beach Blvd, Orange Beach, AL
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Rare East Corner Unit!
Phenomenal View of 5 Bodies of Water from Balcony!
3 Bedroom/3 Bath
1887 square feet
Deeded Boat Slip
Deeded Storage Unit
MLS# 131482
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