Tuesday, October 26, 2010
Nansemond Suffolk vs Greenbrier Christian Homecoming game
http://www.suffolknewsherald.com/2010/10/22/saints-blank-greenbriar-christian/
Thursday, October 21, 2010
Your Invited to an Event
We will have a booth at the Driver Days Festival. Candy and treats for the kids, free raffle for gift baskets and prizes. Lots of fun and food. Hope to see you there.
Tuesday, October 5, 2010
Driver Days Fall Festival - October 23rd and 24th
Join me at DRIVER DAYS for your FREE CMA, FREE RAFFLES
and other PRIZES!! There will be representatives from
Keller Williams Realty, New American Mortgage and
Moseley Real Estate School
available at the event.
and other PRIZES!! There will be representatives from
Keller Williams Realty, New American Mortgage and
Moseley Real Estate School
available at the event.
Down-home hospitality combined with good food, live music,
living history demonstrations, pet costume contest and motorcycle ride to highlight the unique shops in the quaint village in Northeastern Suffolk.
living history demonstrations, pet costume contest and motorcycle ride to highlight the unique shops in the quaint village in Northeastern Suffolk.
Proceeds benefit
the Driver Volunteer Fire Department
and local charities.
Sat., Oct 23rd
9am-6pm
Sun., Oct 24th
11am-5pm
Free general admission
Driver Village, Suffolk, Va
the Driver Volunteer Fire Department
and local charities.
Sat., Oct 23rd
9am-6pm
Sun., Oct 24th
11am-5pm
Free general admission
Driver Village, Suffolk, Va
Monday, September 20, 2010
Thursday, September 16, 2010
Thursday, July 29, 2010
Fannie Mae When can you buy after foreclosure
Underwriting Borrowers with a Prior Foreclosure
A variety of foreclosure alternatives are available to borrowers who are having difficulty making their mortgage payments. In Announcement SEL-2010-05, Underwriting Borrowers with a Prior
Preforeclosure Sale or Deed-in-Lieu of Foreclosure, Fannie Mae announced changes to the
policies regarding the amount of time that must elapse after a borrower experiences a
preforeclosure event (preforeclosure sale, short sale, and deed-in-lieu of foreclosure). The
changes highlighted the importance of borrowers working with their servicers to avoid
foreclosure.
As a follow-up to that Announcement, Fannie Mae is now modifying the waiting period that must
elapse before a borrower is eligible for a new mortgage loan after a foreclosure. The
combination of the waiting period policies for foreclosures and preforeclosure events continue to
favor borrowers who work with their servicers to avoid foreclosure by allowing these borrowers
to be eligible for a future Fannie Mae loan in a shorter period of time.
This Announcement describes the policy changes in detail. The changes will be reflected in the
Selling Guide, B3-5.3-07, Significant Derogatory Credit Events – Waiting Periods and Reestablishing
Credit, when it is updated on June 30, 2010.
Waiting Period After a Foreclosure
Currently, the waiting period that must elapse after a borrower experiences a foreclosure is>
Waiting Period After a Foreclosure
Currently, the waiting period that must elapse after a borrower experiences a foreclosure is
seven years. However, Fannie Mae allows a shorter time period – five years – if certain
additional requirements are met (e.g., minimum down payment and credit score, and occupancy
requirements). These requirements are being modified to remove the five year option. Unless
the foreclosure was the result of documented extenuating circumstances, which only requires a
three-year waiting period (with additional requirements), all borrowers will now be required to
meet a seven-year waiting period after a prior foreclosure to be eligible for a new mortgage loan
eligible for sale to Fannie Mae.
The additional requirements that apply to borrowers with documented extenuating
circumstances are also being updated to reflect a maximum LTV ratio of the lesser of 90% or
the LTV ratio per the Eligibility Matrix for all transactions.
The following table describes the waiting period policy changes for foreclosures
Information provided by Amy House of New American Mortgage
A variety of foreclosure alternatives are available to borrowers who are having difficulty making their mortgage payments. In Announcement SEL-2010-05, Underwriting Borrowers with a Prior
Preforeclosure Sale or Deed-in-Lieu of Foreclosure, Fannie Mae announced changes to the
policies regarding the amount of time that must elapse after a borrower experiences a
preforeclosure event (preforeclosure sale, short sale, and deed-in-lieu of foreclosure). The
changes highlighted the importance of borrowers working with their servicers to avoid
foreclosure.
As a follow-up to that Announcement, Fannie Mae is now modifying the waiting period that must
elapse before a borrower is eligible for a new mortgage loan after a foreclosure. The
combination of the waiting period policies for foreclosures and preforeclosure events continue to
favor borrowers who work with their servicers to avoid foreclosure by allowing these borrowers
to be eligible for a future Fannie Mae loan in a shorter period of time.
This Announcement describes the policy changes in detail. The changes will be reflected in the
Selling Guide, B3-5.3-07, Significant Derogatory Credit Events – Waiting Periods and Reestablishing
Credit, when it is updated on June 30, 2010.
Waiting Period After a Foreclosure
Currently, the waiting period that must elapse after a borrower experiences a foreclosure is>
Waiting Period After a Foreclosure
Currently, the waiting period that must elapse after a borrower experiences a foreclosure is
seven years. However, Fannie Mae allows a shorter time period – five years – if certain
additional requirements are met (e.g., minimum down payment and credit score, and occupancy
requirements). These requirements are being modified to remove the five year option. Unless
the foreclosure was the result of documented extenuating circumstances, which only requires a
three-year waiting period (with additional requirements), all borrowers will now be required to
meet a seven-year waiting period after a prior foreclosure to be eligible for a new mortgage loan
eligible for sale to Fannie Mae.
The additional requirements that apply to borrowers with documented extenuating
circumstances are also being updated to reflect a maximum LTV ratio of the lesser of 90% or
the LTV ratio per the Eligibility Matrix for all transactions.
The following table describes the waiting period policy changes for foreclosures
Information provided by Amy House of New American Mortgage
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