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    • No Shortcuts to the Top: Climbing the World's 14 Highest Peaks
      No Shortcuts to the Top: Climbing the World's 14 Highest Peaks
      by Ed Viesturs, David Roberts

      "Ed and David Roberts have given the reader a never before look into the climbing and personal life of America's icon of mountain climbing. This includes the mental methods of climbing with various partners, dealing with circumstances outside of the sphere of control, and the decisions impacting self and family."

    • First Things First
      First Things First
      by Stephen R. Covey, A. Roger Merrill, Rebecca R. Merrill

      "It shapes a lifestyle, a discipline full of virtue and enchantement. Think of it as a trip to Tibet packed with a senior executive course on people skills - a profoundly humanistic work for the self who's also a contemporary citizen of the world."

    • The Lies About Money: Why You Need to Own the Portfolio of the Future
      The Lies About Money: Why You Need to Own the Portfolio of the Future
      by Ric Edelman

      "Ric Edelman does a good job of discussing the perils of mutual funds and what to look out for when investing. His sections are short, simple, easy to read and provide a relatively straightforward explanation of the topics."

    • If You Don't Make Waves, You'll Drown: 10 Hard Charging Strategies for Leading in Politically Correct Times
      If You Don't Make Waves, You'll Drown: 10 Hard Charging Strategies for Leading in Politically Correct Times
      by Dave Anderson

      "Even if you disagree with the approach at times, you won't be able to deny the truths contained and the relative strategies that Dave recommends for curing our businesses and our country. They work, when applied properly and consistently."

    • The Truth About Money 3rd Edition
      The Truth About Money 3rd Edition
      by Ric Edelman

      "A comprehensive guide to the different methods and options available to the individual investor, along with some useful information regarding budgeting and purchasing"

    • Integrity: The Courage to Meet the Demands of Reality
      Integrity: The Courage to Meet the Demands of Reality
      by Henry Cloud

      "The basic assumption here is that "integration" or "wholeness" of character is a necessary component in order to reach one's maximum potential both personally and professionally, and that character is not fixed or unchangeable. This book is extremely inspirational and informative. It is a roadmap to success and happiness."

    My Top 10

    My Top 10 Favorite Truths!

    1) You cant predict the future.

    2) You can only control yourself and your choices...and some days that is even a stretch!

    3) Happiness is a choice.

    4) Anything is possible!

    5) Perception is Reality.

    6) Expectation, determines outcome.

    7) Honesty, is the only policy.

    8) Every Failure is an opportunity for growth.

    9) Tomorrow is not promised to you.

    10) Family is the most important thing in the world, and can be found anywhere in the world.

    Favorite Quotes

    My Favorite Quotes!

    1) Imagination is more important than knowledge.-Albert Einstein

    2) What you get by achieving your goals is not as important as what you become by achieving your goals.-Zig Ziglar

    3) It is wise to keep in mind that neither success nor failure is ever final.-Roger Babson

    4) Whether you think you can or whether you think you can't, you're right.-Henry Ford

    5) How we spend our days is, of course, how we spend our lives.-Annie Dillard

     

    « | Main | »
    Tuesday
    Oct132009

    HUD $100 Down Payment Program

    DateTuesday, October 13, 2009 at 2:31PM

    I was a asked today  by one of my home buyers if they could really purchase a HUD home for only $100 ?

    My response: Nope!

    But, if you're a qualified buyer, you can use an FHA loan to buy one of HUD's specifically designated homes for sale....With only $100 down! 

    This is an amazing program HUD is offering for a limited time and could be very beneficial to many home purchasers. 

     
    HUD is currently offering to qualified owner-occupied home buyers when purchasing a HUD home for full price and using and FHA insured new home loan, a loan program that only requires a down payment of $100. You might be asking yourself what exactly is a HUD home? In short, a HUD home is a home that has been through the foreclosure process and HUD is the current owner. Not all foreclosed homes are HUD owned. The key is whether or not the homeowners had a FHA loan before they lost their home.  If they did, the home goes back to HUD to be resold; if not, the bank which owned the foreclosed mortgage owns the home and tries to re-sell it. With the influx of foreclosed homes there are many qualified HUD homes all over the nation.

    HUD releases their list of qualified homes weekly and an experienced real estate sales professional will be able to help you access the list of homes available in your search area. I strongly urge you to only work with real estate agents that are experienced in selling HUD homes. The HUD  home buying process requires knowledge of this particular bid process and if your real estate agent doesn't handle the process exactly how HUD requires, your bid could be kicked out and your chance at that home could be lost. As a home buyer, a more experienced real estate agent doesn't cost you a dime but if your using an in-experienced real estate agent, it could cost you a lot! I know several real estate agents who know this process and have done well for their clients. 

    If you would like a referral to an experienced agent in your area, feel free to contact me at michelle.coolidge@cobaltmortgage.com so that you and I can talk and I can get a good idea about your needs and which real estate agent would be a good fit with you.
     
    Here are a few important tidbits of information on the HUD $100 Down program:

    • Buyer must live in the home for a least one year
    • Buyer must make a full price offer to HUD
    • Minimum credit score is 620
    • Buyer must meet FHA's normal qualifying guidelines

     

    As always, have a blessed day and please contact me if I can be of any help!

    Michelle

     
     
     
       

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