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! )

Atlanta and the Urban Future

Politics

Atlanta and the Urban Future

 

By ROB GURWITT, GOVERNING MAGAZINE – July 2008

 

A major American city has undergone big demographic changes overnight. Will others follow?

There is going to be a hard-fought campaign for mayor of Atlanta next year, and to understand it better, you might pay a visit to the Lighting Loft on Edgewood Avenue, in the city’s Old Fourth Ward. Not for any whispered political tips, but to look over the sleek and coolly sophisticated fixtures it sells: brushed-steel sconces, lamps in glass of the richest amber, cobalt blue pendants that could light a goat stall with hip urbanity.

 

What’s arresting about all this high-end domicile candy is where it’s located. A few minutes’ walk away, on Auburn Avenue, is the modest home where Martin Luther King Jr. was born; another block and you’re at Ebenezer Baptist Church, where King and his father preached. This is a nationally iconic black neighborhood, a fount of African-American culture and creativity through the middle third of the 20th century, but more recently an unsettling symbol of inner-city decay. You can still find small houses in need of repair, older black men hanging out on front porches, the occasional homeless addict wandering the streets. Yet they share space now with cafes, clothing galleries, expensively renovated homes and factories converted into upscale lofts. Almost any day of the week, one finds young white couples pushing baby strollers or checking out the progress of the new Japanese restaurant that’s going in.

 

The Old Fourth Ward is changing at a stunning clip. It has not thrown aside its past, and it is home to plenty of African-American professionals and executives, but it also is filling up with white suburbanites who are tired of two-hour daily commutes and who like the idea of living next to downtown.. Nor is the Old Fourth alone as a symbol of what seems to be Atlanta’s almost day-by-day transformation. White newcomers are picking up houses and condos in Cabbagetown and Midtown, in Edgewood, Kirkwood and Castleberry Hill, up at the new Atlantic Station project and downtown in mixed-income developments that have replaced some of the most legendarily dysfunctional public housing in America. “It has become classy,” says local political consultant Angelo Fuster, “to live in the city.”

 

There is really only one way to put it: Atlanta is becoming whiter, and at a pace that outstrips the rest of the nation. The white share of the city’s population, says Brookings Institution demographer William Frey, grew faster between 2000 and 2006 than that of any other U.S. city. It increased from 31 percent in 2000 to 35 percent in 2006, a numeric gain of 26,000, more than double the increase between 1990 and 2000. The trend seems to be gathering strength with each passing year. Only Washington, D.C., saw a comparable increase in white population share during those years, although several other big cities are starting to see it now.

 

This development is occurring at the same time that race and ethnicity are driving changes every bit as fundamental in Atlanta’s suburbs. For if the city itself is growing whiter, the Atlanta region is growing less white. The Atlanta Regional Commission reports that in 2000, the white, non-Hispanic population of the 20-county Atlanta metro region formed 60 percent of the total population; by 2006, that had shrunk to 54 percent, not so much because whites were leaving — although four counties did see absolute declines in white numbers — but because of the arrival in the suburbs of African Americans, Hispanics, Asians, Africans and Caribbeans. Of the 10 counties in the nation with the largest declines in white percentage of the population from 2000 to 2006, six are in the suburbs of Atlanta.

 

Read more: http://www.governing.com/articles/0807atlanta.htm

National Homeownership Month

ACE Development Corporation is celebrating National Homeownership Month with an open house (10 AM – 5:30 PM) and reception (5:30 PM – 8:30 PM) on Monday, June 30. ACE programs help renters save towards the purchase of affordable homes and guard against foreclosure. Open house seminars include such topics as reverse mortgages, down-payment assistance, how to avoid foreclosure, and housing cooperatives. Great door-prizes. Free to the public. John Birdine Neighborhood Center, 215 Lakewood Way. Call 404-627-5920 or visit www.acedevelopment.org for more info.

Please see the flyer here