N. Atlanta Real Estate, Roswell Real Estate, N Metro Counties County Real Estate, Pat Barnett

Houses Unlimited, Inc.
The Real Estate Company with a Heart!

I hope you and your families have a blest Thanksgiving!
November is "Be Thankful Month"

Each day think of 3 things for which to be thankful . It could be your health, your job, your family and more. I am thankful for all the above and more! Check out just for fun below about turkeys!
More Good News!!!! Finally!

I have been saying this for months!

Holiday Surprise from Fannie and Freddie: Foreclosures Suspended until January

Posted By Paige On November 23, 2008 @ 1:08 pm In Today's Top Story |

RISMEDIA, Nov. 24, 2008-As December approaches, the saying "home for the holidays" may hold more meaning to those facing foreclosure right now, and that spirit, Fannie Mae and Freddie Mac have announced a suspension on foreclosures and evictions through January of 2009.

The two mortgage giants have issued a notice to its loan servicing organizations and retained foreclosure attorneys directing them to suspend foreclosure sales on occupied single-family properties as well as the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009. The effort was made to support the streamlined modification program that was announced on Nov. 11.

The suspension will help servicers implement the Streamlined Modification Program recently announced by Freddie Mac, Fannie Mae, the Federal Housing Finance Agency (FHFA), HOPE Now and 27 mortgage servicers, scheduled to launch December 15.. The temporary suspension is also expected to give servicers more time to help borrowers avoid foreclosure.

Fannie´s streamlined modification program is aimed at the highest risk borrower who has missed three payments or more, owns and occupies the primary residence, and has not filed for bankruptcy. The program creates a fast-track method for getting troubled borrowers into an affordable monthly payment through a mix of reducing the mortgage interest rate, extending the life of the loan or even deferring payments on part of the principal. Servicers have flexibility in the approach, but the objective is to create a more affordable payment for borrowers at risk of foreclosure.

Freddie Mac servicers and foreclosure attorneys were told to contact as quickly as possible an estimated 6,000 borrowers with foreclosure sales scheduled between November 26, 2008 and January 9, 2009. If the property is occupied, the servicers and foreclosure attorneys will halt the sale. This temporary suspension of foreclosure sales will not apply to vacant single family properties. Additionally, no evictions will be completed between November 26 and January 9.

"The streamlined modification program by Fannie Mae, Freddie Mac, Hope Now and 27 mortgage servicers is an important step forward in addressing the systemic issues driving the increase in foreclosures," said Fannie Mae President and Chief Executive Officer Herb Allison. "Until the streamlined modification program is fully implemented, we felt it was in the best interest of both borrowers and Fannie Mae to take this extra step to ensure that homeowners with the desire and ability to prevent a foreclosure have an opportunity to stay in their homes. We encourage other servicers of non-GSE mortgages to participate in the streamlined modification program to bolster our collective efforts to stem the foreclosure crisis."

"By working closely with FHFA and our servicers, Freddie Mac is on track to help three out of every five troubled borrowers with Freddie Mac-owned loans avoid foreclosure this year," said Freddie Mac Chief Executive Officer David M. Moffett. "Today´s announcement builds on this momentum and provides a new measure of certainty to many of these families during the holidays."

Moffett also emphasized that lenders servicing Freddie Mac-owned mortgages will continue to work with borrowers to consider all workout options Freddie Mac employs to help distressed borrowers who can and want to stay in their homes, such as permanent rate reductions and mortgage term extension modifications.

This year, Freddie Mac expects to approve 84,000 workouts for the estimated 140,000 who are delinquent on Freddie Mac-owned mortgages. (For more about Freddie Mac workout options, see freddiemac.com/avoiding_foreclosure.)

Freddie Mac´s temporary suspension of foreclosure sales is the latest in a series of efforts to help troubled borrowers. Other recent initiatives have included, delegating expanded workout authority to servicers, doubling the amount of money servicers are paid for successful workouts, and paying non-profit organizations to reach out to worried borrowers.

Fannie Mae will be working with foreclosure attorneys and servicers to reach out to the more than 10,000 borrowers the company estimates would be affected during this period. Borrowers who have Fannie Mae loans that are scheduled for foreclosure between November 26, 2008 and January 9, 2009, will be contacted directly by the attorney handling the foreclosure. If the home is occupied, Fannie Mae has instructed servicers and attorneys to suspend the foreclosure.

Allison also said Fannie Mae´s loan servicers are prepared to work with borrowers during this period, even if previous workout efforts have been unsuccessful. As part of the company´s "Second Look" initiative, Fannie Mae personnel have been reviewing seriously delinquent loans to determine if the borrower has been contacted and all workout options have been exhausted.

The streamlined modification program and temporary suspension of foreclosures are two of a series of steps Fannie Mae has taken to expand its foreclosure prevention efforts, which are designed to give loan servicers and foreclosure attorneys tools to find the best solution for a borrower in financial trouble. Fannie Mae and its many partners in the housing industry urge borrowers in financial difficulty to reach out to their loan servicers, regardless of whether they are facing imminent foreclosure. Solutions may be available that could make an existing mortgage more affordable.

"Fannie Mae is committed to working with FHFA to implement the streamlined modification program as quickly as possible to help prevent unnecessary foreclosures,"

Allison said. "We must and will do more."

Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America´s secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. In 2008, we mark our 70th year of service to America´s housing market. Our job is to help those who house America.

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation´s residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

RISMedia welcomes your questions and comments. Send your e-mail to: [1] realestatemagazinefeedback@rismedia.com. Article printed from RISMedia - http://rismedia.com

This week we have some new articles from National Association of Realtors

Here is something to really be thankful for-More lenders are doing workouts! That means less foreclosures.

Just In ! More Lenders Offer Mortgage Relief Programs Yes! Yes! Yes!

Posted By Paige On November 20, 2008 @ 4:29 pm In Consumer News and Advice |

RISMEDIA, November 21, 2008-(MCT)-With no end to the foreclosure epidemic in sight, mortgage lenders have begun to do something they previously resisted: rewriting the terms of mortgage loans.

The about-face is a bow to political pressure and reality: The number of foreclosed properties flooding the market is dragging down home values across the country, a process that could lead to even more home foreclosures.

Two new tenets form the basis of the recent, bank-announced homeowner relief programs: streamlining and outreach. Bank of America, Citigroup Inc. and J.P. Morgan Chase say they will contact mortgage holders who are in or heading toward default, and offer to rework their loans with affordable monthly payments. Many even spell out a preapproved workout in that first letter.

The new approach is borrowed from an FDIC program at the failed IndyMac bank, which FDIC Chairman Sheila Bair reportedly plans to propose going nationwide as part of the federal government´s $700 billion markets bailout plan.

At IndyMac, at-risk borrowers got letters with proposals to cut their payments to no more than 38 percent of their incomes, with modifications such as reduced interest rates or longer loan terms. All they had to do was provide verification of their incomes.

But some are skeptical that these new programs will be effective. Qualification guidelines vary, and the process is likely to be time-consuming, said Guy Cecala, publisher of Inside Mortgage Finance. Most of the troubled loans were bundled and sold as mortgage-backed securities, so modifications need approval from the investors holding them, Cecala said. Banks can move quickly only on the mortgages they own. Even fast-track workouts take time, partly because experience has shown low contact rates with the homeowners, he said.

To Julie Gugin, director of the nonprofit Minnesota Home Ownership Center, the question is how the banks will handle the new programs. The tools in them are the same ones that banks have had all along and were reluctant to use, she said.

Even with the new workouts, Gugin recommended that homeowners still seek a second opinion, to find out if it´s truly affordable and their best option. A list of HUD-approved counseling agencies is available at [1] www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm.

Distributed by McClatchy-Tribune Information Services.

Here is the next crisis: I don't know about you but the credit card companies are starting to raise their interest rates to 23+%, whether you are paying on time or not. I got two notices so far. This is one instance we need to contact our Federal Officials! I have. In fact, I have contacted them more in the last two years than all the other years combined. We just need to take an active part in our goverment or we will not have a voice. Here is the site:

Need to Contact your local and Federal Officials:
http://www.usa.gov/Contact/Elected.shtml

Here is an email addressing the above issue and a link to Credit Card Reform.org
After getting hundreds of billions from taxpayers, banks want to reach into your
pocket again.

For years, financial advisors told you to hold a few credit cards in order to improve your
credit score. Today, millions of good customers now face higher interest rates and
abruptly reduced credit limits - which cause your credit score to drop - because banks
need more money.

You can do something about it!

Over the past decade, credit card banks offered us trillions more in credit than we
actually wanted. Sending dozens of offers a year by mail, hawking cards to college
students without regard to their ability to pay, and setting minimum payments so
that it takes decades to pay off a balance, they captured millions of new customers.

Now, they hope to collect more money from us to make up for their own bad decisions
elsewhere. That's not good for you or for the economy.

The U.S. Senate is considering practical reforms-show your support! (www.creditcardreform.org)

This legislation gets more urgent by the day. Higher interest rates are already
preventing financially distressed families from getting out from under their debt. You
might be in that situation, too. Help us get this passed by forwarding this email to anyone
you know who has a credit card so they can join you in this effort.

Sincerely,
Jim Guest
Consumers Union of the U.S.
Nonprofit publisher of Consumer Reports
101 Truman Ave.
Yonkers, NY 10703

News you can use!
A friend told be about this: www.blackfriday.info . I think it came from Clark Howard but you can check it now for Thanksgiving Sales!
Are you aware of www.Whitefence.com   to save on your utilities? I just switched. I was paying 1.89 per therm and will now pay .97 per therm. Worth the click !
It is a free service!

To get a foreclosure, You will need an approval letter in order to get in line for some of these houses. It means the lender has put all the pieces of the loan package together and once you have the property it takes less time to close. You need to get your last two years tax returns and current pay stubs among other things, check with your lender.
I am a HUD Registered Real Estate agent. HUD registered agents place the bid on the house for you on the HUD site. You have to have an agent do this for you. HUD will pay closing costs and the Agents commission. . Also know that HUD homes are priced at fair market value. So if you want a HUD home, call me. Right now they have some homes that can be bought with $100. down if you are the owner occupant and use FHA financing. You still have to qualify!
www.hudpemco.com

November 20, 2008 Mortgage UPDATE

LONG-TERM MORTGAGE RATES DOWN FOR THIRD CONSECUTIVE WEEK
McLean, VA ? Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.04 percent with an average 0.7 point for the week ending November 20, 2008, down from last week when it averaged 6.14 percent. Last year at this time, the 30-year FRM averaged 6.20 percent.

The 15-year FRM this week averaged 5.73 percent with an average 0.7 point, down from last week when it averaged 5.81 percent. A year ago at this time, the 15-year FRM averaged 5.83 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 5.87 percent this week, with an average 0.6 point, down from last week when it averaged 5.98 percent. A year ago, the 5-year ARM averaged 5.88 percent.

One-year Treasury-indexed ARMs averaged 5.29 percent this week with an average 0.5 point, down from last week when it averaged 5.33 percent. At this time last year, the 1-year ARM averaged 5.42 percent.

(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

"Long- and short-term mortgage rates fell for the third consecutive week amid continuing signs of a slowing economy," said Frank Nothaft, Freddie Mac vice president and chief economist. "Retail sales fell for the fourth straight month in October and consumer sentiment remained near a 28-year low in November.

"In fact, the Federal Reserve during its October 28-29 committee meeting lowered its economic growth forecasts for 2008 and 2009, according to its minutes released this week."

From one of my Lenders:
How do you get your credit score? Currently there is no law requiring that consumers be given their credit scores. Lenders aren't required to give you your credit score-but some will if you ask them. The lender should, however, tell you what factors contributed to your credit score if your score was a factor in delaying or denying your loan application. Credit bureaus don't include credit scores on consumer credit reports.

Assuming you know your credit score-what does it mean? Credit scores fall between approximately 375 to 900. Anything over 670 is considered good credit. Borrowers with good credit are able to get the best financing rates and terms available to the general public.

Lenders classify borrowers into the following credit categories based upon their credit scores. These categories can vary slightly among lenders. For example, a credit score of 620 could be a "B" with one lender, but a "C" with a different lender. The lower your score, the more expensive and restrictive your potential financing choices.

Credit
Rating

Credit
Score

A+

670

A-

660

B

620

C

580

D

550

E

520

It would be confusing at best to present general underwriting guidelines in an attempt to interpret credit ratings and scores as they relate to individual borrowers. In A- through E credit scenarios, dozens of factors are considered in the decision-making process. Your best assurance of getting the best possible loan is to shop among several lenders

If you are having credit issues, we can help. If you would like a private consultation, let us know and we will set up a private appointment with you and go over your alternatives. If you have your credit report bring it with you. If you have applied for credit and been denied you, are entitled to a copy of the report and an explanation from the credit agency as to why you were denied.
Did you know in the state of Georgia, you are entitled to 2 free credit reports annually?

Trade-in and Recycle Program- Thru Sam's Club

Turn in your used PC and more

Do you want to recycle an old printer? Or trade-in an iPod? We make it easy through our Trade-in and Recycle Program. If you’re a Sam’s Club Member, you can trade in qualified used electronics items. In exchange, we’ll give you a Sam’s Club gift card for the value of your item. If your item doesn’t qualify, we’ll help you recycle it.

Follow these simple steps:

Visit www.econewonline.com/samsclub.
Enter details about the electronic item you want to trade-in.
Find out whether your item qualifies as a trade-in.
If your item qualifies, ecoNEW, a company we’re partnering with, will tell you the trade-in value.
Learn how to recycle items without trade-in values.
Follow packaging instructions for your trade-in or recyclable item.
Receive a Sam’s Club gift card in the mail for items with trade-in values.

Community announcement! "It isn't easy being Green"
Jim Henson´s Fantastic World on display at Atlanta History Center October 25, 2008 - January 18, 2009

Jim Henson´s Fantastic World, created by the Smithsonian Institution Traveling Exhibition Service (SITES) and The Jim Henson Legacy, offers a rare peek into the imagination and creative genius of this multi-talented innovator and creator of Kermit the Frog, Big Bird, and other beloved characters. This lively and colorful exhibition documents Henson´s process of "visual thinking" and celebrates the story of a cultural icon, the impact his technological innovation had on television and film history, and the legacy of his life´s work.

Just Reduced another $40k to $259,900    New Listing!



2196 New Hope Road Lawrenceville, GA



Imagine room to spread out! This Remodeled Dream home has a huge beautifully landscaped front yard and a very large back yard. Part of the backyard is landscaped and fenced in so you can have complete privacy in your hot tub if you decide to get one.
The home has terra cotta tile in the 2 story foyer and in the kitchen. There is an office/Living room and a separate Dining room off the kitchen.
The two story Family room is magnificent with 3 medium sized palladium windows. and a fireplace. All the windows have blinds on them.-that´s a huge savings right there!
The kitchen has a breakfast bar, island, granite tops, stained cabinets and stainless appliances. Plus you have a large eat in area. The laundry room is off the kitchen and garage entrance.
The Master bedroom has a cove ceiling and bay window. There is a fireplace to keep you warm and cozy on those cold nights. Above the fireplace would be a great place for your plasma TV. The Master bath features a whirlpool tub and separate shower. There is one vanity with double sinks and another smaller vanity with commode area that can be used as a lock off half bath room for guests. Also you have two closets- one a walk in.

Upstairs are 3 large bedrooms. Two bedrooms share a bath. Also there is a door right there for attic access where you can store more items. Across the catwalk is the other bedroom with private bathroom.

Property Type: Single Family Broker Name: Ga RE Lic H-44118

Bedrooms: 4 Agent Name: Pat Barnett

Square Feet: Not Disclosed Agent Phone: (770) 448-3331

Baths: 3 Agent Email: pat@patbarnett.com

New Price! Peachtree Corners $248,500



3672 Corners Way Norcross, GA



Great Location in Peachtree Corners! Close to everything, shopping, great schools, and parks!
This lovely split level has been painted inside and out! It is ready to go! The home features 3 bedrooms, 2.5 baths plus separate Living, Dining and Family rooms.
It has a fireplace, a computer niche and Gigantic Master Bedroom . Huge double deck!

$7500 down at 3%
Interest rate 5.5%Estimate 5.625APR
Approx. Total Payment w/ Tax Ins
$ 1799.11
Subject to change with interest rate,credit rating.

Property Type: Single Family Broker Name: Ga RE Lic H-44118

Bedrooms: 3 Agent Name: Pat Barnett

Square Feet: Not Disclosed Agent Phone: (770) 448-3331

Baths: 2.5 Agent Email: pat@patbarnett.com

Builder Closeout. Reduced $50K already!

Here are the directions for the above property:
I-85N, to Jimmy Carter Blvd , go right then stay on Jimmy Carter until you get to Williams Road , take a left, then 3rd street on the left . Great Norcross, great close in location! Call me to see.

Owner Financing Available for Qualified Buyer! Only $4550 down. Luxury Condo at Economical Price In Roswell, Gated Community, Hembree Creek - off Hembree Rd. Now Reduced to $129,900. Snooze you lose on this one!! This is a jewel with privacy galore. Not only that, since it is on the bottom floor, your utilities are a lot less!!!!
Savings, Savings and more savings!!! Great location!

$129900 Luxury Condo at Economical Price In Roswell

102 Streamside Dr Roswell, GA



Enter the secure gate, then go downstairs to your very private unit. The lush greenery on the right is your view out of the unit.
Upon entering this home, a tiled entry and you will see the designer paint colors. The Great room features like new Berber carpet & granite surround Fireplace.
The Dining room just beyond features a half mirrored wall with decorative shelving. Then you notice the crown molding thru out & upgraded lighting.
As you walk down the hall way there is a laundry room on your right and a beautiful kitchen. It features white cabinets and deocrator back splash tile. Note the double stainless sink with the goose neck faucet.
As you pass thru the kitchen, you see the open sunroom and a door to the private covered patio outside
Each master bedroom has its own walk in closet with additional shelving. Each full bath has its own special tile.
In one bath it is mosiac tile and travertine tile in the other.. Plus porcelain wall tile and refinished porcelain tubs. This home looks brand new. Plus you have a swinning pool and cabana. The list just keeps going! Plus great location!!!

Property Type: Single Family Broker Name: Ga RE Lic H-44118

Bedrooms: 2 Agent Name: Pat Barnett

Baths: 2 Agent Email: pat@patbarnett.com

New Price! 142500    Lease Purchase or
Owner Financing with Qualified Purchaser!
Or Go FHA only $5500. down!
     2871 Hickory Trail, Snellville, Ga 30083
Are you tired of stairs? This home is for you! It features ramps to the front and rear entrances to the home. It is a 3 Bedroom, 2 bath home recently renovated with new carpet, vinyl windows, and vinyl flooring in the kitchen. Kitchen is very spacious with lots of cabinets! There is a large family room with fireplace and a recreation room in lieu of garage(only place where you have 2 steps but ramp can be added)
Now what you don't know. It is on an incline! So what! Stop at the end of the driveway, pick up your mail and drive to the top! When you get ready to leave, there is plenty of room to back up and go down the driveway , head first! I have lived on a driveway much worst than this! Also the backyard is fenced in. Now $142500.  Ready for YOU!

My Houses Unlimited, the R. E. Company with a Heart!

10 Ways to Prepare for Homeownership

1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income.

2. Develop your home wish list. Then, prioritize the features on your list. Remember be realistic!

3. Select where you want to live. Compile a list of three or four neighborhoods you´d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? In today´s market, FHA is the way to go with only 3% down until January 1 when it goes to 3.5%. Also, don´t forget to factor in closing costs. Closing costs - including taxes, attorney´s fee, and transfer fees - average between 2 and 3% of the loan amount. If you are paying more than that, you need another lender! You will also need about 1% of the loan amount for your prepaid items- escrows for taxes and homeowner insurance.

5. Get your credit in order. Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments. Lenders will pull all three credit reports in qualifiying you

6. Determine your mortgage qualifications. How large of mortgage do you qualify for? Also, explore different loan options - such as 30-year or 15-year fixed mortgages or ARMs - and decide what´s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers.There are a few left in the state of Georgia but you cannot make over a certain amount to qualify. Call me about this. Or, if you have an IRA account, you can use the money you´ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

Try this new site: http://shortcuts.com/ Savings Coupons!

Just for Fun!

Civics test: How did you do?
http://games.toast.net/independence/