10 Day Close: Its Not Just Advertising

10 Day Close – It’s not just advertising!

With only days remaining until their scheduled closing, my clients learned that their FHA loan would not be approved by a major bank because the property did not clear the 90 Day Flipping Rule.  Even though FHA disregarded those rules previously, major banks still have not softened.

I referred my clients to Steve Alonso on Friday afternoon.  By Friday evening he had their file in process, had contacted the previous lender to obtain the first appraisal and had ordered the second appraisal that would be required.  On Saturday morning we met Steve at his office and he took the time to fully inform them of what he could do and assured them that they would be approved.  He completed all the disclosures and worked closely with them to obtain all the paperwork needed to submit to underwriting.

My clients signed their documents at title on the 9th day after contacting Steve.  They received their keys on the 10th day thanks to Steve and his team of professionals.

The buyers will always remember their first home purchase and the fact that Steve prevented them from losing their $8,000 tax credit and even gave them a better deal than the major bank.

If you are looking for a Top Notch Lender, pick up the phone and call Steve Alonso.

You’ll be glad you did.

DeWitt Lang,    e-PRO, REALTOR ®
Realty Executives, Inc. 6263 N Scottsdale Rd, Ste. 140, Scottsdale , AZ   85250
602.796.9060 cell     866.285.9047 fax
Visit our website at:  www.AZHomeOnline.NET
Email me at:  DeWitt@LangAndLang.com

About Making Home Affordable-HAMP

The Obama Administration has introduced a comprehensive Financial Stability Plan to address the key problems at the heart of the current crisis and get our economy back on track. A critical piece of that effort is Making Home Affordable, a plan to stabilize our housing market and help up to 7 to 9 million Americans reduce their monthly mortgage payments to more affordable levels without having to hire a loan modification attorney.

The Home Affordable Refinance Program gives up to 4 to 5 million homeowners with loans owned or guaranteed by Fannie Mae or Freddie Mac an opportunity to refinance into more affordable monthly payments. The Home Affordable Modification Program commits $75 billion to keep up to 3 to 4 million Americans in their homes by preventing avoidable foreclosures.

Our consumer website, www.MakingHomeAffordable.gov, provides homeowners with detailed information about these programs along with self-assessment tools and calculators to empower borrowers with the resources they need to determine whether they might be eligible for a modification or a refinance under the Administration’s program. Through this website, borrowers can also connect with free counseling resources to help with outstanding questions; locate homeowner events in their communities; find a handy checklist of key documents and materials to have ready when making that important call to their servicer as well as FAQs from borrowers in similar circumstances; and much more.

We hope that you will find this website informative and useful as we all work together to solve our nation’s housing crisis and put our country on the path to a lasting economic recovery.

Beware of Foreclosure Rescue Scams – Help Is Free!

  • Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan. Do not pay – walk away!
  • Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.
  • Never submit your mortgage payments to anyone other than your mortgage company without their approval.

The Obama Administration has launched a coordinated effort across federal and state government and the private sector to target mortgage loan modification fraud and foreclosure rescue scams that threaten to hurt American homeowners and prevent them from getting the help they need during these challenging times.  Click here for more information.

Courtesy of www.MakingHomeAffordable.gov