FHA to Reduce Waiting Period for Borrowers Who Experienced Foreclosure

FHA-Mortgage2-528x396FHA to Reduce Waiting Period for Borrowers Who Experienced Foreclosure… The Federal Housing Administration better known as FHA has made a popular decision today that will come as welcomed news to any borrowers who may have experienced a foreclosure recently or may find themselves in a foreclosure in the coming years. Up to this date ALL borrower’s who had there house foreclosed would have to wait 36 months or 3 years before they could finance the purchase of another home with an FHA mortgage and would have to wait 60 months or 5 years to finance the purchase of a new home with a conventional loan. But as of Today FHA will Reduce Waiting Period for Borrowers Who Experienced Foreclosure under specific guidelines.

The Federal Housing Administration (FHA) is going to allow borrower who have had a Foreclosure, Bankruptcy, Deed-In-Lieu or Short-Sale to renter the housing market and finance the purchase of a home with an FHA loan in as little as 12 months from the final date of action from the default if they fall under the specific guidelines. Meaning they have to have lost their home as a result of an economic hardship. For any borrower’s who went through a financial hardship FHA realizes “their credit histories may not fully reflect their true ability or propensity to repay a mortgage.”

Now in order to be eligible for this guideline and the more lenient approval process the borrower must be able to provide certain financial documents that show specific credit impairments and financial hardships were from loss of employment and/or loss of income that was beyond the borrower’s control. In addition the lender must also be able to verify the loss of income was at least 20% for a time period lasting at least 6 months.

Borrower’s must also show they have fully recovered from the event that caused the credit impairments and financial hardship and must also complete housing counseling. This means the borrower(s) must reestablish satisfactory credit for at least 12 months to satisfy the recovery requirement. Satisfactory credit include 12 months of timely payments on things such as mortgage, rent, or credit accounts etc…

Rising Interest Rates and what they Mean

Ben Bernanke Fed Chairman

Ben Bernanke Fed Chairman

As a Citizen 1st of our great country and Real Estate/Mortgage Professional I have a lot of mixed feelings and emotions about the Rising Interest Rates and what they Mean for our Country! When interest rates begin to rise that means the economy is getting stronger as a whole and who wouldn’t be in favor of that? I know I AM!!! But as your start to peel back the layers of this onion don’t be surprised when your left teary eyed over the rising interest rate for your home mortgage loan.

As most people know unless you have been hiding under a rock since 2008 our country has been in a deep economic recession! In which the Federal Reserve or the FED and its chairman Ben Bernanke have been pumping money into the market place to artificially depress interest rates to the tune of $85 billion a month with a B! Making it cheaper to borrow money which in-turn helps stimulate the economy. It’s a fairly simple concept really… The cheaper it is for someone to borrow money the more likely they will borrow. This helps keep money circulating and is the oil, grease & coal for this money train we call the US economy! Without it we could be the biggest & nicest train on the tracks but we wouldn’t get far without the oil, grease & coal.

As for the Miami & Nationwide Housing Industry which is my main area of expertise I am concerned about the Rising Interest Rates and what they mean for all of us! The housing market for many areas across the country have stabilized and even in some select markets have seen a steady increase in home values & purchase prices over the last several months. Now there are many factors that contribute to this but none more so than the low affordable interest rates that home buyers have all enjoyed over the last 18 months. What we know now is that interest rates are beginning to go up… Just ask anyone who is been trying to buy a home over the last 45 to 60 days where the interest started when they were first pre-approved and where the interest rate is at now! A traditional 30 year mortgage is now is around 4.5% which is up from 3.25% just a few months ago. And with the economy getting stronger interest rates are likely to keep rising.

Now I am forever optimistic and remain a glass-half-full person… but my fear is the FED will allow rates to increase too rapidly too soon which in-turn will stymie the little recovery and progress we have made in the overall housing industry since the great collapse of 2008! My hope is the FED will realize this and continue to take the necessary steps to keep rates low which makes more homes more affordable to more people and keeps the resurging housing market on a steady and upward trend that matches our growing economy!

Miami Kendall Hammocks Fireworks Show

Miami Kendall Hammocks Fireworks Show

Miami Kendall Hammocks Fireworks Show

If you’re in West Kendall for the 4th of July and don’t want to deal with the hassle of heading out to Black Point Marina or Bayside just to take in a good fireworks show then your in luck! The Miami Kendall Hammocks Fireworks Show is one heck of a July 4th Celebration and doesn’t require you showing up 3 hours before the show just to get a good view of the extravaganza or spending a couple hours after trying to get out of the traffic once the show is over.

There will be plenty of FUN activities for the whole family! Free Rides & Games for the kids! Karaoke with a LIVE Band! Food Trucks Galore to satisfy any and all of your hunger needs! Only piece of advice I would give is bring some insect repellant, an umbrella, and some fold-out chairs so you can watch the show comfortably.

Below please find a video of all you can expect to see as well as a map you can use for exact directions. Hope to see you there as we celebrate the birth of our great nation!


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Miami Townhouse for Sale

This Miami Townhouse for Sale is located at the Riviera at Coral Lake 460 NW 86 PL #108 Miami, FL 33126 and it is not a Short-Sale or a Foreclosure! This Beauty has been Exceptionally maintained and shows very well. Property is 3 bedroom & 2.5 bathrooms with a spacious floor plan and close to 1,600sqft. Tiled Floors with a Wonderful Kitchen and Beautiful Color Scheme throughout the house. The community “Riviera at Coral Lake” has a Security Patrol, Racquet Ball Courts, and a large Community Swimming Pool. Property is centrally located just north of West Flager St. and next to NW 87 Ave. near Excellent Schools, Stores, Mall, and Major Roads/Highways. An ideal starter home for any family. Equally as attractive to investors as the Property Taxes and Home Owner Association fees are cheap and rentals are HIGH!

List Price reduced to $205,000… Won’t last long… Call Today… For more info on this Miami Townhouse for Sale please click HERE!

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Miami Kendall Home for Sale

This Miami Kendall Home for Sale is a LARGE corner beauty located at 9465 SW 146 CT Miami, FL in much sought after Panache Sub close to Kendall Drive & SW 147 Ave. Best House in entire Subdivision! Home features 4 bed & 3 full bath, open space layout with close to 2,700 sqft with all the bells & whistles… New Roof installed 2010, New Energy efficient A/C installed 2011, Remodeled kitchen & bathrooms, Accordion shutters on all windows, freshly painted with new floors, and a large patio for fiesta! Cheap Home Owner Association of $62 monthly with yearly property taxes of $2,859. Property can qualify for FHA, VA, and Conventional financing and is not a Short-Sale or a Foreclosure. Seller can close fast! Won’t last long! Don’t miss this opportunity!

Price just reduced to $324,900… For More info please CLICK HERE

Miami Kendall Home for Sale Miami Kendall Home for Sale

 

 

 

 

 

 

Miami Kendall Home for Sale Miami Kendall Home for Sale Miami Kendall Home for Sale Entrance to Master family room 2 family room Miami Kendall Home for Sale layout living room 2 living room master office or bedroom upstairs hall yard

 

Kendall Hammocks Baseball Champs

Kendall Hammocks Baseball Champs

KHO Wildshots

This post has nothing to do with business but every bit just as important if not more! Over the last 4 months I had the pleasure of coaching my son “Chris Williams” 10 and under baseball team called the “Wildshots” and we successfully completed the 1st ever undefeated season for a 10 year old team at Hammocks Park in West Kendall Miami, FL. And we were named the 10 and under Kendall Hammocks Baseball Champs for the 2013 Spring Season.

The competition was fierce as we played teams from all over Miami, Hialeah, Miami Lakes, Palm Spring North and of course Kendall. We had some close calls and even some of our games we entered the last inning down. But our team showed heart and just what it means to be resilient. When the dust settled and the last out was called in the championship game we completed a 26-0 season and safe to say I am a proud poppa and coach!

So CONGRATULATIONS are in order for the Kendall Hammocks 10 & under Wildshots for a successful undefeated season! I’m so proud of  each and every 1 of you and all you have accomplished.

Coach G!

More info please visit: http://www.khobaseball.com/

A-Rod Sells his Miami home for a cool 30 MILLION!!!

A-Rod Sells his Miami home for a cool 30 MILLION!!!A-Rod Sells his Miami home for a cool 30 MILLION!!! Alex Rodriguez hasn’t played at all this 2013 season and spent most of last year striking out with what most baseball aficionados would consider mediocre play at best. But I think most people would agree he hit a TOWERING OUT OF THE PARK GRAND-SLAM HOMERUN with his most recent real estate transaction.

The Yankees 3rd baseman purchased his waterfront Miami Beach in home in 2010 for 7.4 million. He then pumped in an additional 7.5 million transforming the 20,000 sqft estate into a work of art with European white oak flooring throughout and glass windows that can be adjusted so that someone can walk straight outside. The house also features a zen garden and rooftop deck. The renovations took him a little over 11 months to complete but for those who can afford its well worth it.

If your keeping a box score that is $7.4million to purchase + $7.5million in upgrades & renovations with a $30 million dollar sold price which = 15 MILLION DOLLAR REAL ESTATE PROFIT in less than 36 months.

Rodriguez moved in October 2011 and, encouraged by the rebound of the Miami real estate market, listed the home for the first time at $38 million a year later. Failing to get a nibble, he took the home off the market in December 2012. Rodriguez never listed the home again, as he was personally offered the deal that was consummated Friday.

“When you’re offered the highest price for a home in a city’s history, you have to take it,” said Jose More, a business partner of Rodriguez who is the vice president of his construction company.

Click Here to Read More

SOLD $610k – 2400 SW 105 CT Miami, FL. 33165

SOLD $610k – 2400 SW 105 CT Miami, FL. 33165LUXURIOUS AND GATED HOME WITH  4 BEDROOMS 4 FULL BATHS, MODERN KITCHEN WITH AN ISLAND THAT COULD SEAT MORE THAN 8 PEOPLE, 2 ZONE A/C, MASTER BATH WITH JACUZZI, DOBLE SINK AND SHOWER, MASTER BEDROOM WITH HUGE WALK-IN CLOSETS, THE PATIO TASTEFULLY DONE FOR PARTIES AND TO ENJOY THE SOUTH FLORIDA WEATHER (POOL, JACUZZI, GAZEBO, BBQ, ICE MAKER, REFRIGERATOR, TV, BAR)ALL OF THIS IN THE PRIVACY OF MORE THAN 6 FEET TALL FENCE.

Succesfully sold for $610,000 ALL CASH on April 15, 2013:

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11th Annual Taste of Pinecrest

top-event-finalIf you live or are if your going to be in the Pinecrest & Falls  area today April 7, 2013 come on our and enjoy the 11th Annual Taste of Pinecrest at the YMCA South Dade Family Branch. Come and sample the local fair amd enjoy South Florida’s finest food trucks. You can bring the entire family and enjoy a full carnival, activities & interactive art for kids, the main stage with local bands & student performances and wellness and busines expo.  The location of the event is 9355 SW 134 ST Miami, FL. 33176.

The 11th annual Taste of Pinecrest is being hosted at the newly renovated YMCA. There are all new activities and entertainment with the focus on food! This event will celebrate the new Falls Corridor and include the surrounding community as guests, vendors and participants. Taking place Sunday, April 7th from 11am to 6pm, this event will feature top-notch chefs, professional entertainers, interactive demonstrations, food tastings, a business expo and a major community cook-off. We will offer plenty of free activities for children of all ages indoors and out.

Too many young people don’t experience the kind of opportunities for growth, leadership and a sense of community that come from being part of the Y. Every year we raise scholarship dollars to ensure that no child is turned away from camp, youth sports, and other essential programs that positively impact children’s growth and development. As a leading nonprofit for youth development, healthy living and social responsibility, the Y uses your gift to make a meaningful, enduring impact right in your own neighborhood. One-hundred percent of the net proceeds from Taste of Pinecrest will be invested in the Y’s scholarship fund  – none will go to overhead, staffing, or operational expenses. The $30,000 we hope to raise will enable 400 children in our community who wouldn’t otherwise be able to participate in youth sports or camp to learn teamwork, stay active and safe, make friends, and develop life-long memories at the Y. When you give to the Y, you strengthen our community and move us all forward by investing in our future

Click here for more info