I really think this is important, the $8,000 First Time Home Buyer Tax Credit is set to expire on Nov. 30, 2009. As far as I know there is not extension in the works for this program. THIS IS FREE MONEY FOLKS!  Now, combine that with the “Kiddie Kondo” and you have a huge program potential. Send your kid to college (starting next month), co-sign for a house with them, save money on housing and get $8,000 to pay tuition at a fine school like the University of Oregon or Oregon State University or Willamette University or Lane Community College.

I can’t understand why parents of college age students are not lining up to buy houses (if they can afford it), instead of throwing their money away on rental housing while their kid is in school. How else can someone start their student out with a potential of making money while saving money? This is one of those win-win situations we are always looking for, but so seldom find.

So, that is my commercial for today. Call me if you are interested in making something like this happen for your college age student. Think about what it is going to cost to house your student for four years of college and what you will have at the end of that time. You can reach me at 541-342-7576/541-221-3455 or e-mail me today. Not much more time remaining.

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The growth rate of Alt-A loan delinquencies remains uncomfortably high, but defaults are beginning to moderate, a new industry survey shows.

The Alternative-A RMBS Performance Update report from Standard & Poor’s says that as of the July 2009 distribution date, total delinquencies were 27.49% for the 2005 vintage, 39.25% for the 2006 vintage, and 35.85% for the 2007 vintage….(read more)

Equity markets are closing the week on an optimistic note as modest gains were extended after housing data bolstered sentiment and the Federal Reserve chairman said a global recovery was underway.

Three hours into the session, the benchmark S&P 500 was leading with 1.67% gain to 1,024, while the Dow was up 1.52% to 9,492, and the Nasdaq was following a with a 1.36% gain to 2,016. For the week, the S&P is up close to 2%….(read more)

 

Watch your dream home transform before your eyes in five easy steps using the FHA 203k Rehab Loan…

 

 

 

The FHA 203k Rehab Loan in Texas allows you to truly make a house your home.  Everyone has different tastes in decor and what could be better than to move into a fully customized home??  Furthermore, with all the foreclosures on the market there may be some items that are required to be repaired prior to moving in.  By simply following these easy steps below you will ensure a smooth transaction…

1. Obtain a pre-approval
2. Find a home and assess it’s potential
3. Determine what work is desired/required
4. Close with one payment and a great low FHA rate
5. Begin construction (average completion time is 30-45 days)

 The FHA 203k loan is so versatile you do not need to limit yourself to just the required repairs.  Be sure that when you move in you are able to sit back and feel confident with your purchase.  This is an investment into your future so don’t miss the chance to take advantage of this great loan program.

For more information or to apply please call Leesa Sandoval at 972-407-7922 or 214-202-0491

www.leesasandoval.com

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Great news for the housing market gave equities a nice boost to a week of up and downs. Sales of Existing Homes in July soared by 7.2% in the month, pushing the annualized pace of sales to 5.420 million, the highest rate in almost two years and the first time past the 5 million mark in nine months.

July marks the fourth straight month of increases for Existing Home Sales, including a 3.6% gain in June. Markets were only looking for a 2.5% advance in July….(read more)

Are mortgage rates going up? Are mortgage rates going down? I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week’s survey may point you in the right direction.
The Bankrate.com survey is for conforming mortgages only. It does not apply to FHA mortgages, VA mortgages, jumbo mortgages, or super jumbo mortgages. [...]

Investor sentiment is positive as markets anticipate real estate data and a speech from Federal Reserve chairman Ben Bernanke. News from overseas has generally been positive this morning, helping equity futures in the US gain on hopes that the global economy is recovering.

In Europe, Germany’s Purchasing Manager Index hit its highest level in 12 months with a 49.0 reading, indicating that general conditions are just on the cusp of growth. The equivalent index from France climbed to a 15-month high of 50.2 in August, suggesting slight expansion. The two better-than-anticipated reports helped Euro zone manufacturing beat expectations with a score to 47.9….(read more)

Time is Running Out on the $8000 Tax Credit

If you plan on purchasing your first home and using the $8000 tax credit you must act quickly.  Your loan must close before November 30, 2009 or you will miss out on this great opportunity.  Since this federal money can be used for your down payment or may be claimed after the purchase it would be a shame to not claim it if you qualify.

Many counties and cities in Texashave established bond and down payment assistance programs to assist first time buyers.  These program can be used alone or combined with the $8000 tax credit.  Below are links to those programs.  I am certified to participate in each one listed but please don’t hesitate to call or email for more information.

• City of Frisco
• Tarrant County
• City of Garland
• City of Houston
• City of Laredo
• City of Lewisville
• City of Odessa
• City of Plano
• City of Sherman
• Harris County
• Rockwall County
• City of Dallas

Since most of these programs are self driven you will want to check to be sure you qualify.  If you do we will be happy to assist you with the application and answer any questions we can.  Don’t let all this money go to waste!!

Contact me for more information or to apply

Leesa Sandoval

972-407-7922 or 214-202-0491

www.leesasandoval.com

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Copyright © 2008
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The use of this feed on other websites breaches copyright. If this content is not in your news reader, it makes the page you are viewing an infringement of the copyright. (Digital Fingerprint:
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