Saturday, December 31, 2011
Friday, December 16, 2011
Thursday, December 15, 2011
Monday, December 12, 2011
Are you a self employed, high income earners, having problems qualifying for a purchase loan? Check out this new loan which may help you qualify ...
Asset Depletion Mortgage Loans are a relatively new loan product, but are proving to be a huge benefit for self employed Colorado home buyers. In 2007 the “Stated Income” loan program, which had become prevalent, all but disappeared. “Full Income” documentation underwriting became the norm, and for good reason. But this left many self employed home buyers out in the cold. Now, using Asset Depletion, these self employed borrowers have a solution that will help them qualify for a home.
What is a Depletion of Assets Mortgage? An Asset Depletion Mortgage allows the borrower to qualify by deriving an income from assets they currently hold. This program is not meant for a struggling self employed home buyer with no assets and no income on their tax returns. Two years tax returns are still required, and most likely significant assets will be required. But for a solid borrower with $1,000,000 in the bank, this will be a big boost.
Eligible Assets for Asset Depletion Qualifying - Assets that can be used for qualifying include cash equivalents, such as CD’s, and funds in checking and savings accounts. Also, trust accounts and investment portfolio’s. Retirement accounts like IRA’s and 401k’s can be used, but only if the borrower is 62 years of age or older.
For further information, please call me and lets get you into home ownership
Thursday, December 1, 2011
Julie Reddington Realtor, ABR
Tel: (720) 226-4168 | Fax: (303) 784-0618
TheHouseHunterDenver@gmail.com | www.JulieReddingtonRealEstate.com
Key Masters Real Estate - Metro Brokers
Fannie Mae announced today that it will suspend evictions of foreclosed single family and 2-4 unit properties from December 19th, 2011 through January 2nd, 2012. During this period, legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be permitted to remain in the home.
"The holidays are meant for families to spend time together, especially if they’ve gone through the stress of financial challenges and foreclosure,” said Terry Edwards, Executive Vice President of Credit Portfolio Management, Fannie Mae. “No family should have to give up their home during this holiday season. Fannie Mae is committed to helping borrowers avoid foreclosure whenever possible and we encourage any homeowner who is having difficulty making their payment to reach out for help.”
Homeowners with Fannie Mae-backed loans can call 1-800-7FANNIE or visitwww.knowyouroptions.com for information and resources on foreclosure prevention options, including contact information for the Fannie Mae Mortgage Help Center or a HUD-approved counseling agency in their area.
Source Fannie Mae
Tuesday, November 29, 2011
Wednesday, October 12, 2011
Tuesday, October 11, 2011
Wednesday, October 5, 2011
Saturday, October 1, 2011
Thursday, September 29, 2011
Sunday, September 25, 2011
Wednesday, September 21, 2011
Tuesday, July 26, 2011
Should I keep this to myself ?? OK, I will share a little undiscovered area which has 'blown my socks off'. This Gated Sub-division is called West Ranch which is on the west side of Ken Caryl and is not in the typical part of Ken Caryl as you would expect. It is literally 2 minutes to the US 285 from the north entrance (but you don't hear or see it) and 10 mins to the C470.
As you drive through this area, you will think you have entered a State Park. There are over 500 acres of dedicated open space. A quiet road tucks round wooded forests with some amazing views of the Denver Metro spreading as far as the eye can see. Yet there are over 50 homes tucked behind these trees.
Each home is situated on many acres of land keeping each home very private. They are STUNNING! The houses are zoned for horses - some have stables and barns already.
The bad news is you cannot just drive through. The good news is you can give me a call and I will show you these stunning homes.
Wednesday, July 20, 2011
Thursday, July 14, 2011
Monday, July 11, 2011
Douglas County has a program whereby they will provide down payments assistance of 5% of the purchase price for First Time Home Buyers
The criteria for this program is as follows:-
* MUST be able to contribute $1,000 towards the purchase
(cannot be borrowed or be a gift).
* Secure a first mortgage. All loans MUST be a 30 year fixed loan.
* Reside in Douglas County 12 months prior to closing or work in Douglas County at least 20 hours per week
* Be a “First-Time Homebuyer” (No ownership in a home in the past 3 years, Single parent that has owned prior with a spouse, or a displaced homemaker.)
* Back-End ratio under 45%
* Borrowers must show an acceptable credit history. A letter of explanation for all adverse accounts (bankruptcy, collections, late payments, etc.) is required.
* The home MUST be used as a “primary residence” and be located in Douglas County (the home cannot be “renter occupied” at the time of purchase).
* Potential borrower MUST meet with DCHP and receive “Income Certification Letter” prior to signing a sales contract.
* $100 application fee
The downpayment assistance is in the form of a second mortgage. Payments begin immediately and the funds may only be used for downpayment, no closing cost assistance. Borrowers have a choice of either (a) a 15 year loan term which will carry an interest rate of three percent below the 10-year Treasury Index (but no lower than a 1% interest rate), or (b) a 30 year loan term which will carry an interest rate of one percent below the 10-year Treasury Index (but no lower than a 3% interest rate).
For More Information, CLICK HERE
Source Douglas County Housing Assistance
Tuesday, June 21, 2011
Tuesday, April 5, 2011
Wednesday, March 16, 2011
Wednesday, March 9, 2011
The value of these luxury homes have fallen in recently years plus getting a mortgage in these luxury homes is less expensive. In 2009 buyers of high-end homes paid 1.8 percentage points more in interest than the average buyer. But in 2010, that spread had shrunk to just 0.6 points more.
That reduction would save about $780 a month on a million-dollar mortgage.
Click below to take a look here at some of Denver’s luxury home market
Denver's Luxury Home Market
Sunday, March 6, 2011
Thursday, February 24, 2011
Wednesday, February 23, 2011
Saturday, February 19, 2011
Wednesday, February 16, 2011
Monday, February 14, 2011
Sunday, February 13, 2011
Wednesday, February 9, 2011
Tuesday, January 25, 2011
This is not a new law, but it has been expanded to all property owners, no matter how small their property is.
If you own a rental, you have a legal duty to obtain certain information from Vendor ( for example, Social Security number or tax identification), and keep a record of the amount you pay them over the year. At the end of the year, you must issue a 1099 form, and keep a copy for yourself.
The requirement takes effect from 2011 tax year, so start tracking Vendors from the beginning of January.
Who is a Vendor?
All contractors and freelance workers who provide services in a rental real estate context ie plumber, painters, cleaners etc. So all providers who you don’t issue with a W2 who provide at least $600 over a year in services.
Remember to keep track of all people who do work for you as this is a cumulative amount over the year.
Speak to your Accountant for more information.