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Freddie Mac to the Rescue!

by Petur Sigurdsson, Realtor

Foreclosed homeIt is admirable to see what the mortgage giant Freddie Mac is trying to do to soften the blow of foreclosure on owners and tenants after foreclosure.  They have launched a new program called “The REO Rental Initiative”, with the goal of soften the blow of foreclosure on owners-occupants and tenants after the foreclosure.  This program can make life much easier for the occupants of a foreclosed home, especially if there are children involved.

If the home is in safe, habitable condition and meets all local codes for rental properties, it can qualify for the program.  Then they will try to find out if the tenant or former owner qualifies for a normal lease based on what is happening in the area of the home and the finance situation of the owner or tenant, i.e. can they pay the normal lease and are they interested in renting the home on a month to month bases.  To learn more about this program CLICK HERE.  

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

Avoid Scammers and get Safe Mortgage Help!

by Petur Sigurdsson, Realtor

It is unfortunate that some people always try to make money of other people hardship.  HUD and the U.S. government are franticly trying to stop these practices and guide people in the right direction.  This is why HUD has opened a page on their website which helps homeowners and guides them to HUD approved nonprofit counselors.  This is a part of Presidents Obama Homeowner Affordability and Stability Plan (HASP), and has the purpose of helping you to get real results and avoid scrupulous scammers.  Here is a link to HUD’s website. 

  

The U.S. Treasury Department has also opened a website to assist and guide people that need to modify their mortgages and or refinance their homes.  You don’t have to be late on your mortgage to qualify for this program which is called Making Home Affordable.  They have also opened a telephone hotline: (888) 995-4673 and the website is: www.makinghomeaffordable.gov .  These websites have a lot of information and explain to homeowners how the system works and guides them in a safe way in the right direction.  If your mortgage is a burden to you, I urge you to check out these websites and wish you the best. 

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

A Win, Win, Win, Win Situation!

by Petur Sigurdsson, Realtor

I saw this article on Oregonlive.com explaining how Banner Bank in Oregon is going to offer 3.875% interest on loans for newly built homes.  There are 243 homes that are builder owned, that will qualify for these loans.  All the homes have been financed by Banner or Community Financial and are now builders inventory.  The funds come from the Governments TARP money and the bank is using the funds to ease pressure on the bank and the builders.

 

   The first winner is of course the home buyer, who is getting an outstanding loan with an already low priced home, which will make their life easier.

   The second winner is the builder which is getting rid of inventory that is only costing him money today and not producing any profit.

   The third winner is the bank, when the builders pay down their loans instead of going belly up.

   And the fourth winner is the government seeing TARP money do some good in the society, releasing pressure and moving the economy again.

 

This article which is written by Jeff Manning is an upbeat read and I recommend that you all follow this link and read it.

 

After reading this article I wonder, why we aren’t seeing other lending institutes doing the same thing.

 

Here is the link to Jeff’s article.

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

Is the Government outsourcing our work?

by Petur Sigurdsson, Realtor

On March 4th 2009 the Florida Realtors association published this article about retirement visas.  The article interested me, so I went a head and Goggled the issue and found three more articles about the issue of allowing foreign nationals to retire in the United States. 

 

The oldest article that I found was an interview with Tony Macaluso, a past international operations chairman of the National Association of Realtors (NAR), on Workpermit.com.  I would like to quote this sentence from the article Whilst close neighbors such as Mexico, Panama, Costa Rica, and Belize have a variety of programs designed to encourage international pensioners to settle and buy homes there, the U.S. offers no simple path for a foreign citizen to retire to destinations such as Florida or California”.  Here is a link to the article.

 

Then I found an article about the National Association of Realtors (NAR) stand on this issue.  Their policy is as follows: NAR has no policy on the issue. After discussions with the NAR policy committees with jurisdiction over the issue indicated a lack of agreement as to how to precede, the NAR Leadership team directed staff to work with outside experts to measure the degree of interest among foreign citizens in a retirement visa or "silver card".  Here is a link to their article about: Retirement Visa – Issue Summary.

 

The third and the newest article that I found was on news-press.com, which is an interview with a German retirees and Eugene Borosch a south-west Florida businessman.  Where he states that allowing foreigners to retire in Florida could save the Florida economy.  Here is a link to that article.

 

After reading these articles, I feel that the Government needs to CHANGE their opinion and attitude towards foreign national retirees.  They need to allow: retirees with steady income, which would buy property in the US and pay taxes here to stay.  This would definitely help our economy and spur business, which is desperately needed here.  We also have to look at our competition as our neighboring countries like: Mexico, Panama, Belize and Costa Rica mentioning few, all welcome retirees and have opened their countries for them.  Even though I don’t think that it is the intention of the Government to send our work out of the country. “It is my belief that these restrictions on retiree immigration is doing so”.  This is why I urge Orlando Regional Realtors Association (ORRA), the Florida Association of Realtors (FAR), the National Association of Realtor (NAR) in association with home builders associations and any interested associations to act and push for reforms.       

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

Displaying blog entries 1-4 of 4