Allow me the opportunity to help you with a Short-Sale…

Unfortuntly another friend has lost their home due to foreclosure.  I wish I would have known they were going  through this… I would have wanted to help with either assisting them obtain a Loan modification or via Short-Sale..

If you are facing Foreclosure- please allow me the opportunity to help you.  Email or call anytime: niaknowsrealty@yahoo.com and let’s begin the process and discuss your options. There is no cost to you for my services- my commission is earned AFTER the sale of your home and paid by the bank.  I work with a Real Estate attorney to give you the best possible service.

What’s a Short-Sale?

A short sale occurs when a property is sold and the lender agrees to accept a discounted payoff, meaning the lender will release the lien that is secured to the property upon receipt of less money than is actually owed.

Examples: If the unpaid balance of a loan is, say, $100,000 and a property sells for $90,000, under a short sale the lender might accept $90,000 as payment in full.

HOPE for Homeowners Expands Rescues

HOPE for Homeowners, a federal program to allow the replacement of up to $300 billion in underwater U.S. mortgages with federally backed FHA financing, began accepting applications under a legislatively authorized expansion Wednesday. 

To qualify, borrowers must be spending more than 31 percent of their income on mortgage payments. Loans made this year are excluded, except for those completed on Jan 1. Borrowers must have made six months of payments on their loans. 

Lenders must agree to participate and erase 10 percent of the home’s current value before the government will guarantee the mortgage. A concern among lenders is that investors in mortgage securities must take an immediate loss and can’t recoup their lost money if home prices turn upward again. 

The program is a “helpful step forward” in stabilizing the housing market and will help keep many families in their homes but it is not a cure-all, said Steve Preston, secretary of the U.S. Department of Housing and Urban Development, which administers the program. 

Troubled borrowers should contact their lenders. 

Source: Reuters 10/1/08

NPU-T Bylaws Committee Meeting notice!

The NPU-T Bylaws Committee will hold its final bylaws review session for the general body on Monday, September 29th from 6:00pm to 8:00pm at the West End Public Library on Peeples Street. The review session will begin at 6:00 p.m. sharp and can take no longer than two hours because the library closes at 8:00 p.m. and we must vacate the building at that time. We have provided a copy of the most recent draft of the proposed bylaws for your review in advance (see attached). In the interest of time, please come prepared.

This will be the last opportunity for comprehensive discussion and comment on the bylaws before a vote is taken at the next general body meeting in October. At that meeting, discussion will be limited because of the number of other agenda items requiring our attention. I strongly encourage everyone who has expressed interest about the bylaws review process to attend this important meeting on Monday, September 29th.
 
Oni Holley
Chair, NPU-T Bylaws Committee
oaholley@hotmail.com
 

Which station has Gas??

Suggestion to help us all-I saw this on East Atlanta Village usergroup.  

You can post it here or within your neighborhood’s usergroup but post the Station Name/ Station Address-Location/ Date & Time of Gas Purchase/Cost Per Gallon in the Subject line of emails or posts so that we can all stay current on where there is gas around our neighborhood.

For example if you purchase gas at the Exxon Station at the corner of
Oak & Joseph Lowery on Sept 27th at 10:00 AM and paid $4/Gallon the Subject
Line of your email/ post would look like this:

Exxon/Oak& J Lowery /Sept 27th 10:00 AM/$4.00

This way we could easily see where people were finding gas and all other relevant information, without even having to open up the email.

(Thanks Ed Gilgor of EAV, I hope you don’t mind us copying your idea! )