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January 2013

There are 3 blog entries for January 2013.

Money For RehabNeed Money For Home Rehab? - Details on GA Rehab Loan Programs

There's a few programs out there for home rehabbing but usually there's a lot of red tape.   I wanted to give you a bullet pointed list just in case you need money for home rehab.

FHA 203(k) Streamline

  • Up to $35,000 of home rehab can be financed into loan to be completed after closing
  • Non-structural and non-luxury improvements are permitted
  • Appraisal is based on as-is value plus the proposed improvements
  • Licensed General Contractor required
  • Work must be completed within 90 days after closing
  • Primary residences only
  • Purchases and Refinances allowed

FHA 203(b) with Repair Escrow

  • Up to $5,000 can be financed into loan for repairs identified by HUD to be
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Tree ResponsibilityAs we roll into the real "winter" season of Georgia, we thought we'd take a break from hard hitting coverage of the buying process or short sales, and look at Tree Responsibility.  For those that bought homes with the Jarvis Team, whether it be in Lawrenceville or Alpharetta or anywhere else in Metro Atlanta, it's important to know, especially after a freezing rain. While many people cherish and value trees, like all living things they have a lifespan and needs that must be met. Large trees that overhang buildings, fences, or boundary lines pose a threat.

Trees that lean across lines may present special situations that affect homes or fences, and there are often laws protecting each party's interests. While perfectly healthy trees can fall or break

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Buy A Home Again after foreclosureWhen Can I Buy Again After Foreclosure, Short Sale or Bankruptcy?

We have a lot of customers contact us and wonder about their credit.  There's a lot of options and there's unfortunately just as many "mis-information"  out there.  So we wanted to set the record straight on one of the most common questions, When Can I Buy Again After Foreclosure, Short Sale or Bankruptcy?

FHA Loans

  • Foreclosure (or Deed in Lieu of Foreclosure): 3 years from the date of the foreclosure, with re-established credit; and less time with extenuating circumstances [Note that foreclosure and Deed in Lieu are treated as exactly the same!]
  • Short Sale: 2 years from the date of the closed sale when the deed transferred to the new owner.
  • Chapter 7 Bankruptcy: 2 years
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