Category Archives: down payment assistance

Register Now for the 2014 San Francisco Housing Expo

Register Now for the 2014 San Francisco Housing Expo

Register Now for the 2014 San Francisco Housing Expo

SAN FRANCISCO HOMEOWNERSHIP RESOURCE FAIR

HomeowenershipSF presents their annual Housing Expo this coming June 14.

The expo will offer information and resources for both perspective home buyers and current homeowners.

Current home buyers will be able to get the latest information about down payment assistance programs, credit tools and special mortgage products. Buyers will also be able to tour affordable homes for sale. Be sure and book the tour early because last year the tour booked up quickly.

For current homeowners, the expo will offer counseling and on the spot loan modification services for those in distress or suffering a hardship. The program will also include updates from Keep Your Home CA as well as other programs such as the CA Homeowners Bill of Rights to help avoid foreclosure.

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Filed under California, down payment assistance, Events, Foreclosure, Loan Modifications, Mortgages, San Francisco

Upcoming 2013 San Francisco Housing EXPO

Upcoming 2013 San Francisco Housing EXPO

Upcoming 2013 San Francisco Housing EXPO

SF Housing EXPO Offers Resources For Current And Future Homeowners

After a one year hiatus, HomeownershipSF presents the upcoming HomeownershipSF Housing Expo. The free expo will present information opportunities for future and current homeowners. HomeowershipSF partners with the Mayor’s Office of Housing the five member agencies, Asian Inc., Consumer Credit Counseling Service of SF, Mission Economic Development Agency, SF Housing Development Corp. and SF LGBT Center to promote affordable housing in the city.

For those who don’t work at Google, Facebook or Twitter and may be thinking that affordable homeownership in San Francisco represents an oxymoron of epic proportions consider that possibilities do exist for low to medium income San Franciscans. Come to the expo to discover about city, state, and federal down payment assistance programs, as well as special loans for veterans, emergency first responders, and teachers.  Keep in mind that Below Market Rate (BMR) properties have become available again.

Expo Also Offers Info For Current and Distressed Homeonwers

In addition to workshops about buying a home, the expo will offer workshops for current owners. Although the San Francisco real estate market continues to rise at a steady pace, some current owners still face distressed situations. The expo will offer sessions to educate homeowners about many topics including the important California Homeowners Bill of Rights as well as updates from Keep Your Home California.

Although the expo is free, it is a good idea to register in advance due to the limited capacity of some workshops.

To register click on the link here

October 26, 2013

10:30 am to 5:30 pm

At St. Mary’s Cathedral

1111 Gough St., San Francisco 94109

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Filed under California, down payment assistance, Events, San Francisco

Homeowners Urged To Apply For Unemployment Benefits Through Keep Your Home California

Homeowners Urged To Apply For Unemployment Benefits Through Keep Your Home California

Homeowners Urged To Apply For Unemployment Benefits Through Keep Your Home California

Keep Your Home California Offers Unemployment Mortgage Assistance

Unemployed homeowners concerned about the federal extension of unemployment benefits ending soon may soon receive a safety net from Keep Your Home California. With so much of the attention focused on the “fiscal cliff” the state managed Keep Your Home California program urges homeowners to apply immediately for the Unemployment Mortgage Assistance Program, which provides as much as $3,000 per month for up to nine months in mortgage payments.

Many of the homeowners who have fallen behind in their mortgage payments have done so because they cannot find secure employment. Keep Your Home California will continue to make mortgage payments for out-of-work homeowners approved and enrolled in the program, regardless of whether federal extension benefits are extended into 2013.

Some of the guidelines for homeowner benefits from Keep Your Home California remain strict. For the unemployment benefits homeowners need to be eligible for unemployment benefits when they go through the counseling portion of the Keep Your Home California application process, and must have a mortgage payment that exceeds 31% of their income.

To be eligible for the mortgage assistance, homeowners must be experiencing a serious economic hardship, meet county-by-county income limits, and their mortgage servicer must participate in the Unemployment Mortgage Assistance

Mortgage Reinstatement Assistance Program Offers Up To $25,000

The Mortgage Reinstatement Assistance Program offers as much as $25,000 to help struggling homeowners catch up on their payments. The program can offer a maximum of $100,000 from the Principal Reduction Program to help economically distressed homeowners with their underwater mortgages.

In addition, the Transition Assistance Program provides up to $5,000 to financially strapped homeowners who have agreed to move from their home as part of a short sale with their mortgage servicer.

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Filed under California, down payment assistance, Foreclosure, Mortgages, short sales

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

Allocation Of Funds To Be Distributed December 7 and 8

Just in time for the holidays, Wells Fargo will provide $20,000 down-payment grants to help 250 low- and moderate-income families with buying homes in the East Bay as part of a fair-lending settlement.

The program  may seem magnanimous but Wells Fargo’ City LIFT program comes as part of its settlement  with the U.S. Department of Justice that charged the Wells allegedly steered black and Hispanic borrowers into high-cost sub prime mortgages. Wells will provide $50 million nationwide and $5 million here in the East Bay for the down-payment grants. Wells will also dole out another $125 million directly to borrowers believed by the Justice Department to have been adversely impacted.

The down payment allocations will be administered through Unity Council in Oakland. Reservations for the money will be allocated Dec. 7 and 8 during a home-buyer workshop at the Oakland Convention Center Marriott.

The down payment assistance will assist people buying homes in nine of the hardest hit areas of the Bay Area – Antioch, Bay Point, Brentwood, Concord, Pittsburg and Richmond as well as Fremont, Hayward and Oakland.

Buyers Must Not Earn More Than 120 Percent Median Income

To qualify, prospective buyers must not earn more than 120 percent median income (that equates to about 112,000 a year for a family of four) and be able to qualify for a mortgage. Buyers do not need to obtain their loan through Wells Fargo but they do need to take an eight hour educational workshop with HUD approved counselors.

To apply for grants, prospective homeowners should pre-register at http://www.wellsfargo.com/citylift or (866) 802-0456 for the Dec. 7-8 Oakland home-buyer event. Buyers should bring relevant financial information. Although walk-ins will be accepted those with reservations will be given priority.

Pre – Happy Holidays!

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

$20,000 Down Payment Assistance Program For East Bay Buyers

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Filed under Banks, California, down payment assistance, Events, Mortgages

Zero Down Payment Marketing

Marketing 411

Now we’ve seen some down and dirty marketing before but this may be the most cost effective. How much time and money could this person have spent to create this sign? Not only that but the fact that the person placed this sign on a random corner in the Berryessa region of San Jose seemed curious to us.  We had enough curiosity to call the number to see what they are up to. Was this some foreclosure purchase scam?

We called the number and listened to the recorded message that went on for longer than the sign probably took to create. The Realtor stated that this was a Home Buyers Awareness Hotline and a Consumer Awareness Hotline. He mentioned that perspective homebuyers could buy homes in the $200,000 – 500,000 range with zero down payment, and that they did not need a large down payment.

Of course, he didn’t go in specifics but buyers can use Homepath to purchase a home where a borrower can buy a home for zero down– using a Fannie Mae loan– if the home is bank-owned, and owned by Fannie Mae. We see some issues with this loan program, like the fact that Homepath requires no appraisal.

That Homepath deal is for another post but the recording says that this Realtor is service oriented.  We learned early on not to judge a book by its cover but we just not sure how much trust we would instill in a person or service whose image can be seen on a dusty piece of cardboard.

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Filed under California, down payment assistance, Foreclosure, Mortgages, San Jose

2009 San Francisco Homeownership Fair

HOF09_logo_4inchWith all of the recent festivals, conferences and events we’ve had to lay off the laptop (blog posts) and lay on the planning and developing. But here we are just a couple days before the 2009 San Francisco Homeownership Fair. We’ll be there but for those on the proverbial fence (white picket, wrought iron, hopefully not barbed wire) we provide this overview of sorts so you can decide to pop in. Continue reading

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Filed under California, down payment assistance, Events, Foreclosure, San Francisco

New Homebuyer Program at Monte Vista (San Jose)

kb canneryIt’s like finding buried treasure. Okay, maybe we’re overstating things a bit but with many people searching for that extra financial assistance to get them into a home, we’ve uncovered a small pot of gold. It’s more like a pot of down payment assistance.

One of our connections at the at the City of San Jose and another at KB Homes tipped us off to a new Homebuyer Program at Monte Vista which offers a City of San Jose down payment assistance loan for the condominium and townhome units. The funds from a private lender, other programs, and the household will be used to finance the remainder of the purchase price.

The program called BEGIN (Building Equity and Growth in Neighborhoods) will offer a loan up to 20% of the sale price (with a maximum sales price of 95% of the Average Area purchase price, currently set at $712,000). Continue reading

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Filed under California, down payment assistance, Foreclosure, San Jose