Thursday, July 18, 2019

3% Down Payment Loan!



A HomeReady™ Mortgage is designed to help lenders confidently serve today’s market of credit-worthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.


 


Help meet the diverse needs of today’s buyers with a HomeReady Mortgage, Fannie Mae’s enhanced affordable lending product.


 


 


OVERVIEW


 


Designed for credit-worthy, low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities.


 


A HomeReady Mortgage lets you lend with confidence while expanding access to credit and supporting sustainable homeownership.


 


  • Simplicity and certainty for lenders

  • Improved pricing and execution

  • Product features designed to align with today’s buyer demographics and support sustainable Homeownership.

 


 


BORROWER BENEFITS


 


  • Accessible and Sustainable Financing

  • Low down payment. Up to 97% financing for home purchase with many borrowers flexibilities.

  • Flexible sources of funds can be used for the down payment and closing costs with no minimum contribution required from the borrower’s own funds (1-unit properties).

  • Conventional home financing with cancellable monthly MI (per Servicing Guide policy); reduced MI coverage requirement above 90% LTV supports competitive borrower payment.

  • Homeownership education helps buyers get ready to buy a home and be prepared for the responsibilities of homeownership. The required training offers an easy-to-use, online course provided by Framework.

  • Allows for nontraditional credit.

  • Gifts and grants are permitted as a source of funds for down payment and closing costs.

  • Supports manufactured housing up to 95% and HomeStyle® Renovation (approved lenders) to 95%.

 


Fannie Mae’s Economic and Strategic Research group reports a “demographic sea change” in the housing market, characterized by the rise of the Millennials, increased diversity, and a growing elderly population; and new household growth is being driven by traditionally underserved segments.


 


MORE INFORMATION ON A HOMEREADY™ MORTGAGE



Wednesday, July 17, 2019

Crosstown Parkway Celebration Community Block Party



The end of the construction for the Crosstown Parkway Extension Project marks a new beginning for the City of Port St. Lucie, residents and visitors. With more than 195,000 residents, the City worked diligently since 1980 to make this project and corridor a reality for the community.


The Crosstown Parkway Extension will mark completion with a Community Celebration and Block Party on Saturday, September 28. The project provides a new bridge crossing over the North Fork of the St. Lucie River, connecting the existing Crosstown Parkway from Manth Lane to U.S. 1 Highway at Village Green Drive. The project is approximately two miles long with a 4,000 foot bridge. The six-lane divided highway and bridge will include accommodations for automobile, bicycle, pedestrian and public transit. The project will help alleviate traffic congestion, providing relief to the two existing crossings at Port St. Lucie and Prima Vista Boulevards. The project will improve public safety, emergency response times, help reduce travel times and enhance mobility.


Event Date/Time


  • Date: Saturday, September 28, 2019

  • Time: TBD


Friday, July 12, 2019

Chili Cook-Off, surf fest, glow party, family fun day with paddleboarding top this weekend



Here are the best things to do in Fort Pierce, Jensen Beach, Port Salerno and Vero Beach.


St. Lucie County


The 37th annual Chili Cook-Off is 11 a.m. to 5 p.m. Saturday at the Havert L. Fenn Center, 2000 Virginia Ave., Fort Pierce. It has live entertainment, food and vendors. For $5, buy the chili sampler kit. This year’s theme is books. Admission is free. Proceeds benefit the Boys & Girls Clubs of St. Lucie County. For more information, call 772-460-9918 or go to www.bgcofslc.org.



 


The seventh anniversary Beach N’ Buggies & Boards surf fest and car show is noon to 5 p.m. Sunday at Summer Crush Vineyard & Winery, 4200 Johnston Road, north of Fort Pierce. It includes live music and food trucks. The classic and collectible surfboard show is free to enter, but the car show is $10. Admission is free to spectators. Proceeds benefit the Surfing Florida Museum and the Surfrider Foundation Treasure Coast Chapter. For more information, call 772-460-0500 or go to www.summercrushwine.com.


 


Martin County Parks and Recreation’s Family Fun Day is 10 a.m. to 2 p.m. Saturday at Indian RiverSide Park, 1707 N.E. Indian River Drive, Jensen Beach. It includes a children’s fun zone, field games, an interactive DJ, face painting, educational demonstrations, vendors, food trucks and paddleboarding with Zeke’s Surf, Skate & Paddle Boarding Sports. Admission is free. For more information, go to www.lovemcparks.com.


 


Indian River County


The Kids Glow Party is 10:30-11:30 a.m. Friday at Indian River County Main Library, 1600 21st St., Vero Beach. The glow-in-the-dark party includes games and crafts. For more information, call 772-770-5060 or go to www.facebook.com/ircmainlibrary.


 


For more events go to the source.


Source: Chili Cook-Off, surf fest, glow party, family fun day with paddleboarding top this weekend



Thursday, July 11, 2019

America's Most Expensive Listing Slices $50 Million From Its Price



America’s most expensive listing cuts $50 million from its price.


After only eight months on the market Chartwell, the most expensive listing in the U.S., has come down in price by $50 million. This is down from its official on-market ask of $245 million, though it had been rumored to be asking as high as $350 million before it officially entered the listing service. Despite its $50 million price reduction, it appears to still be the priciest listing currently on the market. There is a home said to be coming on the market for $500 million, but as yet it has not been listed officially. There was a $250 million property on Bel Air Road, also in Los Angeles, that had most recently come down to $150 million but has since moved off the market without appearing to have sold. This $195 million sale would still beat the current Los Angeles record—a $110 million purchase by Hard Rock Cafe founder Pete Morton. The most expensive sale on record is, of course, billionaire Ken Griffin’s purchase of a New York condo for $238 million earlier this year.

The home dates back to the 1930s when architect Sumner Spaulding took on the task of designing the 25,000 square foot main house out of symmetrically cut limestone. It boasts a total of 11 bedrooms and 18 bathrooms across all the buildings, which includes at least one 5-bedroom guest house (designed by Wallace Neff) and a pool house near the 75-foot pool. The house has already had its time in the spotlight before rising to the upper echelons of U.S. real estate by being used in the opening credits of The Beverly Hillbillies television show.


Source: America’s Most Expensive Listing Slices $50 Million From Its Price



Wednesday, July 10, 2019

Veteran Benefits That Survivors Should Know About



From health care to education and home loans, here are seven important benefits that veterans’ survivors should know about before it’s too late.


Felicia Mullaney remembers trying to help the widow of a veteran who had died at a young age of cancer.


The widow was attempting to claim a state property tax break that was designed to help veterans and their survivors, but there was a problem. To qualify, she needed proof that her husband had been totally disabled, but her husband had never applied to the U.S. Department of Veterans Affairs (VA) for a total disability rating before he died.


As a result, the widow could not get the benefit.


“We’re seeing a lot of people not aware’’ of what they need to do to claim benefits, says Mullaney, deputy director of veteran benefits for Vietnam Veterans of America. “It’s a pretty common problem.’’


Jim Marszalek, national service director for Disabled American Veterans, is familiar with the problem. He says that even though the VA conducts classes for service members before they leave the military to acquaint them with benefits, many service members are focused on immediate concerns, not on benefits that might help them and their families in the future.


“When you get out, it’s stressful. You want to look for a job and move on,’’ he says.


Plus, Marszalek says, many benefits hinge on having a condition that the VA labels a disability, and “there’s a stigma associated with disability.’’


Such feelings, combined with the complicated rules involved in qualifying for benefit programs, often mean that survivors of veterans end up like the widow whom Mullaney was trying to help, missing out on benefits they deserve, experts say.


Some of the most important benefits that survivors should explore include:


Compensation for survivors

Dependency and Indemnity Compensation (DIC) is one of the most valuable benefits available to veterans’ survivors. People who meet the criteria for DIC can get as much as tens of thousands of dollars a year in tax-free payments.


The program provides lifetime benefits ranging from about $1,280 a month to $2,940 a month to eligible surviving spouses, depending on the deceased veteran’s pay grade. Additional payments are available for dependent children. Some parents of deceased veterans also may get benefits if their income is low.


DIC payments are not automatic, and not everyone is eligible. Survivors must apply for the benefit, and the sooner they do it, the better. If they apply more than 12 months after the service member’s death, payments are retroactive only to the date they applied, not the date the veteran died.


The program is designed to compensate survivors when service members die during their service, or as a result of a service-connected disability. It also compensates survivors in cases where veterans die from a cause unrelated to their service but were rated by the VA as being totally disabled from a service-connected disability for a certain amount of time immediately before their death.


Experts cite the program as one of the reasons veterans should apply for total disability ratings as soon as they are eligible.


“If you don’t have permanent and total, try to get it,’’ says Mullaney. “Don’t wait until you think you are dying.”


Health care

Another valuable benefit available to eligible survivors is comprehensive health coverage from the Civilian Health and Medical Program of the Department of Veterans Affairs (CHAMPVA). Under this program, the VA shares the cost of most health care services and medical supplies that it considers necessary for eligible surviving spouses and children. In most cases, eligibility for the coverage depends on the degree of a veteran’s service-connected disability.


Comprehensive health coverage is also available under the VA’s Spina Bifida Health Care Benefits Program to children of Vietnam veterans and certain Korean War veterans who have been diagnosed with spina bifida.


More limited health coverage is available in specific situations. For example, service members’ spouses and children who lived at Camp Lejeune between August 1953 and the end of 1987 can get reimbursement for certain out-of-pocket health care costs because of contaminated drinking water there. The benefit applies to treatment of 15 specific illnesses and medical conditions, including several forms of cancer, infertility and miscarriage.


Another targeted health benefit applies to children with certain birth defects other than spina bifida who were born to female Vietnam veterans. The Children of Women Vietnam Veterans (CWVV) Health Care Benefits Program covers services necessary for treatment of the covered birth defect and associated medical conditions.


“We’re seeing a lot of people not aware of what they need to do to claim benefits. It’s a pretty common problem.’’


— Felicia Mullaney, deputy director of veteran benefits for Vietnam Veterans of America

Education and training

Substantial financial help is available for survivors of service members interested in pursuing education or vocational training. The government in some cases will pay all or a large part of tuition costs for college and other educational programs.


Two key programs that eligible surviving spouses and children should explore are the Fry Scholarship and the Survivors’ and Dependents’ Educational Assistance (DEA) Program.


Under the Fry program, the government pays the full cost of in-state tuition at public institutions, or more than $20,000 a year toward the cost of tuition at private institutions, as well as a monthly housing allowance, and an annual stipend for books and supplies. This scholarship, paid directly to the school, was expanded to include surviving spouses in 2014.


Eligible survivors who choose the DEA program instead of the Fry scholarship can get a monthly check sent directly to them to pay educational costs. The maximum amount for full-time students currently is about $1,200 per month.


The DEA and Fry programs can be used for college, vocational and business technical programs, apprenticeship programs, certification tests and tutoring.


Recent legislation also has made it easier for survivors to transfer benefits under the GI Bill after the death of service members.


Eligibility for educational benefits depends on factors including the circumstances of veterans’ deaths, ages of the dependents and marital status of spouses.


Home loans

Surviving spouses who meet certain criteria can get a VA-guaranteed home loan to buy, build or improve a home or to refinance a mortgage.


VA loans have important advantages over other home loans. In most cases, the buyer does not have to make a down payment on the home. Home buyers using these loans also do not have to pay monthly mortgage insurance premiums.


For those who are refinancing, one option is a cash-out refinance loan, which enables homeowners to get cash from the equity in the home and use it, for example, to pay off debt, pay for education or make home improvements.


Pension

Survivors of veterans who served during wartime can apply to receive a tax-free pension, known as a Survivors Pension or Death Pension. The pension provides a monthly payment to surviving spouses with modest incomes who have not remarried. The benefit is also available to unmarried dependent children of wartime veterans.


The amount of the pension is set each year by Congress and eligibility is determined by a complex calculation that considers net worth as well as various kinds of income and expenses. What counts as income can be reduced, for example, by certain expenses, such as unreimbursed medical care. For surviving spouses without a dependent child, the maximum annual pension is currently about $9,000.


Those who are homebound or who require assistance for basic daily activities may qualify for an additional payment.


Burial benefits

Eligible veterans and their spouses and dependents can be buried in one of the 136 national cemeteries maintained by the VA. Burial benefits for veterans in these cemeteries include opening and closing of the grave, perpetual care, a Government headstone or marker, a burial flag, and a Presidential Memorial Certificate (PMC), at no cost to the family. Burial benefits available for spouses and dependents buried in a national cemetery include burial with the veteran, perpetual care of the gravesite, and the spouse or dependents’ names and dates of birth and death inscribed on the veteran’s headstone, at no cost to the family. Eligible spouses and dependents may be buried in a VA national cemetery even if the veteran is not buried there.


When veterans are buried at private cemeteries, the government provides a headstone or marker, a burial flag, and a PMC. The VA also may pay for some of the burial and funeral expenses. Many states have state veteran cemeteries, which may have residency requirements.


Life insurance

Veterans who receive a disability rating connected to their service can qualify for a Service-Disabled Veterans Insurance (S-DVI) life insurance policy, which provides up to $10,000 of coverage. Veterans who are totally disabled are eligible to have their premiums waived.


Totally disabled veterans who are approved for a premium waiver can apply for up to $30,000 in additional coverage, but premiums for the supplemental coverage cannot be waived.


Source: Veteran Benefits That Survivors Should Know About



Tuesday, July 9, 2019

Forbes: Port St. Lucie, FL #24 in Job Growth




Profile

Port St. Lucie is home to Indian River State College, which shares its campus with Florida Atlantic University, Barry University and Keiser University. There are an abundance of recreational activities available to residents and visitors within the area, due to the city’s climate, park facilities and proximity to the beaches nearby. Port St. Lucie is home to the Professional Golf Association (PGA) Learning Center, PGA Historical Center, the PGA Golf Professional Hall of Fame and the Probst Library, one of the world’s prominent collections of golf archives and collectibles. Cultural of points of interest within the city include the nearby Underwater Demolition Team – SEAL Museum at Fort Pierce, the A.E. Backus Gallery and Museum, Hallstrom Planetarium and St. Lucie County Historical Museum.



Source: Port St. Lucie, FL



Monday, July 8, 2019

7 Reasons to Keep Your Credit Good After You’ve Bought a House - Realty Times



You worked hard to save for a down payment and get your credit score to a place where you were able to qualify for a mortgage. Now that you’re in your home, you can relax a little, right? Who cares if your credit score drops; you’re a homeowner!


Not exactly. While you may have met the goal of homeownership, your credit remains vitally important. Keeping your scores up can benefit you in a number of ways. Here are 7 reasons you should keep your credit good even after you’ve bought a house.


To furnish your home

Now that you’ve got that new home, it’s time to furnish it. If you qualified for a mortgage, there’s a good chance you’ll also be a good candidate for new store cards. This can be an easy way to spread a large expense over a period of time, but, beware the pitfalls.


“Store cards or store 0 percent financing deals can enable you to make big-ticket purchases such as furniture, appliances and outdoor fixtures with no interest for several months,” said CreditCards.com. “However, many 0 percent deals charge interest on the original purchase amount—often 20 percent or more—if you don’t pay the entire balance by the end of the promotional period.


Todd Christensen, director of education at Debt Reduction Services, told them: “A lot of people will just make the minimum payment without thinking, and at the end of 18 months there’s still a $3,000 balance. If they don’t pay it all off, here comes 25 percent interest back-dated to day one.”


To save money

The best cards are typically reserved for those with the best credit. If you let your credit dip and you want a new credit card, you still might be able to get one—but you’re not going to get the best rates. You may also be limited to cards that have a hefty annual fee, which will cost you more money.


For the miles

Cards that offer miles, cash back, or some other perk aren’t offered to just anyone. If you keep your credit score high enough to snag one, you’ll love being able to rack up miles to use for travel or apply a cash back bonus to everyday expenses to keep costs down.


For a job

Many employers run your credit as part of the hiring process. Let your credit drop and it could keep you from getting a new job.


To take advantage of falling rates

You never know what’s going to happen to interest rates. Maintain your good credit and you may be able to refinance if rates drop.


To stay in your home

Defaulting on credit cards won’t affect your ability to stay in your home, but if your credit problems extend to your ability to pay your mortgage, you could be looking at foreclosure.


To buy another home

If you’ve already bought a home, you know that, in order to get the best loan and interest rate, you need to have a good credit score. You can qualify for some loans with a lower score, but it’ll cost you. “According to FICO, a homebuyer with a credit score of 760 or higher could pay nearly $2,500 less per year on a $210,000, 30-year home loan than someone with a score of 620,” said CreditCards.com.


Source: 7 Reasons to Keep Your Credit Good After You’ve Bought a House – Realty Times