Real Estate, Home Loans & Identity Theft!

We, just like everyone in our industry, are waiting for a mortgagee letter from Hud to explain how the discontinuance of DPA will be implemented.   

We have contacted our investors for some guidance and wanted to keep you as up to date about it as we can.  Some wholesalers and large banks are not accepting any locks after August 15^th with 45 days as the longest acceptable period.  Some of these investors have all told us the same two key points:

1.       Must be funded by September 30, 2008.

2.       The lock will not hold the guideline.   

Keep this in mind if you plan to purchase and hope to utilize seller paid contributions such as Ameridream towards your down payment & closing costs.  As we hear more we will let you know. 

Native American Connections has townhomes located near 40th Street & Indian School Road for sale!  I will be the lender financing these homes.  The listing agent is Bryan Cooper with John Hall & Associates.  These homes have available Grants from $5K-$75K available depending on your income.  I.H.S. of Phoenix allowed us an information booth yesterday which was a success.  We will be sponsoring another informational booth on Wednesday, September 11, 2008.  Onsite pre-approval will be available!