We are seeing ever increasing signs of recovery in the housing market across the country. Atlanta typically lags behind the rest of the country, but already we are seeing new construction gaining pace and resales doing well, albeit at a ‘reset of prices’ . Watch for the 3rd quarter stats report on Atlanta’s market coming to you in next weeks edition of WOW Wednesday.
AND…..HANG ON… HELP may be coming for those of you that are under water with your homes. There is a new initiative with the Federal Housing Finance Agency on the horizon. This is something we’ve been asking for!!…..open up refinancing to those who really need help!!!
According to D.S.news…” This initiative involves a series of rule changes to the Home Affordable Refinance Program (HARP) to allow more underwater homeowners to reduce their mortgage debt by taking advantage of today’s rock-bottom interest rates. Mortgages backed by Fannie Mae and Freddie Mac, and originally sold to the GSEs on or before May 31, 2009 are eligible for the program.”
This initiative targets people who bought during the peak years, and suffered most when the market went bust. You see, most of these homeowners can’t afford to refinance their homes if it means bringing money to the table at closing!
To qualify, borrowers must be current on their mortgage payments. Government officials believe by opening HARP up to more homeowners with higher thresholds of negative equity, it will help to prevent further foreclosures. Numerous studies, including the University of Chicago Booth School of Business, have found that homeowners who owe significantly more than their home is worth are more likely to throw in the towel and walk away from their mortgage debt even if they have the ability to continue making their payments
We will keep you posted on this developing story! We want you to have the advantage in historic low interest rates! Let us know if you need a great lender! We can give you the best in the industry to reduce your debt by refinancing today!
Have a great day everyone! Have a Safe Halloween!!!
My Best Always,
Janet Weidmann (Team Leader of the WOW Team) ……Certified Luxury Home Specialist ~ Certified Relocation Specialist ~ Certified Short Sales Specialist ~ Life Member Million Dollar Club ~ Top Ranking Agent 2004-2010 ~ Top 1% The WOW Team Weidmann Real Estate or Weidmann Remodeling … Your referrals are the best compliment one could ask for! …. Oh, by the way… #1 Office in Sales Volume throughout the Atlanta Market 2009!
C# 770-597-2862 F# 404-531-5708 Janet@WeidmannGroup.com
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