Check my Harp 2.0 Eligibility in 90 seconds

Low Harp mortgage rates for Investment Condo HARP Refinances are helping investors improve cash flow and buy more property. I am pleased to have Chris Brown provide this feature post.

Chris Brown Mortgage Review

Ryan and Ashley are your next-door-neighbor kinda folks in Brevard County, FL. In addition to their home, they own an investment condo that is under water. They have understood for some time that buying Cape Canaveral investment real estate is where the smart money is going, even now, and even though their first experience created negative equity. Couple the cheap Brevard Real Estate prices of today with the unsustainably low mortgage interest rates and you result in some of the best Brevard County, FL real estate opportunities in our life time. While Ryan and Ashley were looking to add to their real estate portfolio, they began to wonder what they could do with the property they already had… there had to be a way to help improve the cash flow without needing to do a Cape Canaveral Short Sale. If there wasn't they were open to the short sale, but really wanted to keep their investment property. Fast forward to today. In addition to helping Ryan and Ashley structure a new investment property purchase, we uncovered that it made sound financial sense to refinance of the upside down investment condo in Florida they already have through a Cape Canaveral Harp 2 Refinance. How HARP and The Chris Brown Team's mortgage planning benefited Ryan and Ashley Loan Before HARP: Balance: $340,000 Interest Rate: 6.25% Interest ONLY Payment: $1770.83 New HARP Loan: Balance: $346,700 Interest Rate: 4.000% P+I Payment: $1655.20

$105.63 lower Harp payment AND $499.53 now going to principle!

That is a combined benefit of $605.16 beginning in the first month of the Harp 2.0 Success Story, increasing every month after that since each month a little bit more is going to principle. Can $105.63 = $605.16? Yes, it just did. Who do you care about that may also benefit from improving their position $605.16 every month just like Ryan and Ashley? You may choose to share this with them on your Facebook page with the share links above. Check my Harp 2.0 Eligibility in 90 seconds Certified Mortgage Planners and Chris Brown are nationally recognized HARP Experts for the Florida HARP Loan Refinance Program.

Have questions contct Chris Brown Direct 407.367.2974 / Chris@cmpfl.com

Existing Home Sales Leap To 2-Year High

Guest post by Chris Brown

The home resale market put forth another strong data set last week. Home sales prices are higher nationwide and sales volume has moved to a 2-year high.

According to the National Association of REALTORS®, 4.82 million “existing homes” sold on a seasonally-adjusted, annualized basis in August, representing a near 8 percent improvement from the month prior and a nine percent jump from August 2011.

An existing home is a home which has been previously occupied.

Home sales were unevenly split across price tiers, with more than half of all homes selling for less than $250,000. This suggests that the first-time home buyers and real estate investors continue to be active in today’s market as a foundation for growth is built.

According to the Existing Home Sales data :

·        First-time buyers accounted for 31% of all home sales

·        Real estate investors accounted for 18% of all home sales

·        Other, repeat buyers accounted for 51% of all home sales

Also noteworthy is that “distressed homes” accounted for the smallest percentage of overall home sales since the real estate trade group starting tracking such data.

In August, homes in various stages of foreclosures accounted for 12% of all sales and sold at an average discount of 19 percent below market value. Short sale homes accounted for 10% of all sales and sold at an average discount of 13 percent below market value.

Of all the data in the August Existing Home Sales report, though, perhaps most relevant to today’s buyers is the shrinking national housing supply.

At August’s end, there were 2.47 million homes listed for sale nationwide, a three percent increase from the month prior. However, because the pool of available home buyers is increasing more rapidly than the number of homes for sale, housing supplies fell 0.3 months to 6.1 months.

This means that at the current pace of sales, the entire housing supply would be sold by March 2013.

For today’s home buyers, home affordability appears poised to worsen. Mortgage rates and home prices remain low today, but market conditions like these rarely last long. Talk to your real estate agent about what options you have ahead of you. 2012 is coming to a close.

By 2013, the housing recovery may be fully underway. 

Chris Brown, Certified Mortgage Planners 407.367.2974 / Chris@cmpFL.com

Owners with No Equity Refinance with HARP

Many of our owners at Showcase Property Management who are struggling with an upside down mortgage are ecstatic when they learn they may be able to refinance using HARP. My sales administrator, Agi Anderson has been working closely with Chris Brown who is with Certified Mortgage Planners. Chris is one of Florida’s leading experts on HARP, the Home Affordable Refinance Program, one of the only programs available to help investors struggling with mortgage distress. There are qualifications to be eligible for HARP, you must have a Fannie or Freddie backed loan. Watch the short video below and Chris Brown will explain how to check if your loan is Fannie or Freddie backed:

Our aim is to help owners with mortgage relief. If you don’t qualify for HARP and you think you may want to sell, just email me at kgblady@cfl.rr.com and I will have Agi Anderson get in touch touch to explain the short sale process.