Down Payment Assistance

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Some of you may know that the Portland Development Commission (PDC) offers down payment assistance for purchases in their designated Urban Renewal Areas.  If you have been looking to buy a home in the Lents or Interstate Corridor areas, their budget had run dry; but never fear, come June 15th more funds will be available.  These funds can be accessed by qualifying under their income guidelines as a low interest loan along with your primary loan.  This is an excellent way to get into a home without paying private mortgage interest, and giving you extra cash to put into your new investment. 

Click on the links for more info:

Loan Program:

http://www.pdc.us/housing_services/programs/financial/down_payment_assistance_loan.asp

Urban Renewal Area Maps:

http://www.pdc.us/housing_services/resources/publications/inv_detail.asp?id=796&ty=48

Contact us if you want more information about how you can buy a home with no down payment.

May 29, 2009 by ROBERTSV ·

LP Quality or Quantity?

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Those of you who have been around a while have heard of the issues surrounding LP siding manufactured between 1985-1992.  Homes that had that LP siding installed around that time have been shown to have siding failures.  Spitting, swelling, rot and mold have occurred in many instances.  For a time LP offered reimbursement for the costs of the siding to replace failed systems, that money has since run out and anyone who didn’t submit a claim in the beginning is just out of luck. 

Well, history does have a way of repeating itself.  LP’s newest failed product is Veranda Decking and Railings.  Another composite material used to build decks and masquerading as real wood this product manufactured after January 2005 is subject to another claim process.  Premature splitting, cracking etc. has caused this material to be a safety hazard since most people have the habit of standing on or leaning on their outdoor decks and railings.  Think you might have this product?  Check out the info on their link: http://www.deckingnotice.com/  File your claim early, you won’t want to miss out on the money this time around!

May 13, 2009 by ROBERTSV ·

HUD Home Bargains

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As a certified HUD Broker, I can sell HUD owned foreclosures.  If you are not familiar with these properties you might be in for a big surprise, especially if you are in the market to buy.  While they can sometimes need a little work, they can be a bargain.  HUD comes into ownership because they foreclosed on an FHA backed loan.  Not wanting to be landlords, they clean them up and put them back on the market at an attractive price.  Generally, most homes are posted for sale first to owner occupants, and if they don’t sell in the first week or so, they are opened up to investors.  That’s their way of promoting home ownership.  The great thing about buying from them is there are few surprises and they are not emotionally attached to these homes.  It is strictly about the numbers for them.  Once you submit a bid you know if you got it the day after the deadline or within 24 hours on business days-no fooling around.  Some homes even offer FHA financing with only $100 down!  How can you beat that?  Let me know if you want more information on these opportunities!

View available properties at http://www.hmbiweb.com/listings.html

May 5, 2009 by ROBERTSV ·