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Home > Working From HomeCompany Helps Families With Home Ownership
Posted by nick_niesen in Home on November 8th Cheap Gael Kakuta Jersey , 2010
As the stock market remains bearish and portfolios continue to make only minor gains, the demand for homes has never been higher.
It is with this economic trend that more people are opting to invest in one of the most enduring forms of equity: real estate.
Nevertheless, according to the 2000 census Cheap Fernando Llorente Jersey , there are more than 35 million families who rent.
Experts say that while many families are interested in home ownership, a major obstacle they face is the down payment.
Enclaves Group Inc., a spin-off of N.Y.-based real estate corporation Homes For America Holdings Inc. Cheap Ever Banega Jersey , has created a "lease and own" program called Your Home, which the company devised to enable renters to enter the homeowner market.
"The Your Home Program is simple to understand and accessible to all Americans," said Mark MacFarlane Cheap Daniel Carrico Jersey , chief operating officer of Enclaves Group. "This creative program has no down payment and offers a structured purchase plan that creates home ownership equity for the working family."
In fact, MacFarlane noted that while the demand for housing has spurred the construction of new homes, traditional financing methods have not expanded to accommodate the needs of many ordinary families.
With no down payment required Cheap Coke Jersey , the ability to accumulate "Good Resident Credits" and build substantial equity over a period of 36 months, MacFarlane says the program taps into a market that to date has received little or no attention: working families from all walks of life and diverse backgrounds who have not been able to overcome the obstacles to home ownership.
"Enclaves is the first and only home builder to target this unserved market," said Robert MacFarlane Cheap Ciro Immobile Jersey , chairman and chief executive officer of Home For America Holdings. "It's a simple process - what many families are currently paying in rent can now immediately apply for equity for their own piece of the American dream."
GUIYANG， May 7 (Xinhua) -- The railway service on a major line linking southwest China's Sichuan and Guizhou provinces resumed Saturday evening after 17-hour suspension， rail authorities said.
A landslide triggered by continuous heavy rain buried 40 meters of the line at around 2 a.m. in Tongzi County， Zunyi City of Guizhou， cutting off the line between Sanyuanba and Mengdu stations.
About 1，000 emergency workers with the help of three excavators cleared 1，300 cubic meters of mud and rocks on and around the tracks and also consolidated the tracks， the Chengdu railway bureau said.
Twenty trains made detours， returned or canceled in response to the emergency， according to the bureau.
China renewed a blue alert for rainstorms on Saturday as the torrential rain that had lashed much of the south showed little sign of weakening.
From Saturday to Sunday， heavy rain will continue in the provinces of Sichuan， Hubei， Guizhou， Hunan， Zhejiang， Jiangxi and Fujian， with precipitation expected to reach up to 90 millimeters， the National Meteorological Center said in a statement on its website.
China has a four-tier color-coded warning system for severe weather， with red being the most serious， followed by orange， yellow and blue. Enditem
To apply for a Home Path mortgage buyers ought to be pre-qualified by a traditional bank. While not all pre-qualified credit seekers are assured of financing, they at least present an idea of the amount of money they can loan. Another plus for Home Path mortgages is not wearing running shoes accepts down payment loans from outside resources for example a gift from your friends and family, your boss Cheap Beto Jersey , a charitable or non-profit organization. Borrowers may well avail of down payment assistance from the government via the neighborhood Stabilization Program or theHUD. Will these government incentives and tax.
Fannie Mae’s Home Path Mortgage can be a home buying program that offers incentives to individuals that buy bank owned real estate foreclosures. The Home Path program allows buyers to purchase Fannie Mae homes using reduced down payments and closing costs, along using flexible mortgage terms. Some other incentives include elimination of home appraisal fees and mortgage insurance.
The Property Path Mortgage program provides two financing options. The first option is related to a conventional home loan and it is available to individuals who get hold of Fannie Mae foreclosure home as their primary dwelling. The second option is actually Home Path renovation mortgage financing and additional funds to help make light repairs. Both finance options require buyers to obtain funding through an authorised lender.
Home Path properties are owned by Fannie Mae together with obtained through repossession together with forfeiture. Properties include sole family homes, townhomes together with individual condo units. Properties can be purchased “as is” and often require some level of renovation. Buyers should obtain a home inspection prior to help signing closing contracts.
Under the home Path program Cheap Benoit Tremoulinas Jersey , buyers must provide a minimum 3-percent down charge; making this a superior choice for buyers who wouldn’t have the necessary funds with regard to conventional financing. A major perk is actually borrowers can utilize funds obtained from outside sources to meet the down payment requirement. FHA is a only other program that allows down payment assistance.
One option for obtaining downpayment assistance grant money to purchase bank owned foreclosure real estate is the Neighborhood Stabilization Program offered in the Department of Housing together with Urban Development. Billions of dollars have been earmarked for NSP grants to aid stabilize communities hit challenging by foreclosure.
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