Foreclosure Alternatives

Posted in Bob Ashworth, Bob Ashworth Realtor, Cape Coral Real Estate, Cape Coral Realtor, Florida Real Estate, Foreclosure Advice, Home Foreclosure SWFL, Lee County Homes, Real Estate Advice, Realtor, SWFL Foreclosures, SWFL Home Sales, SWFL Home Selling Advice, SWFL Real Estate

Are you behind on your mortgage? Are you facing foreclosure?

I specialize in helping homeowners navigate the ever-changing waters of the SW Florida real estate market. This space is designed for bringing you the latest information, news, details, tips, advice, do’s and don’ts in the real estate industry. I’m here to educated you and create awareness on those topics that you need to know about in order to make the best decision that’s right for you! Below is some important information on foreclosure alternatives that you might want to consider.

HAMP extended to offer foreclosure alternatives

President Obama recently spoke of the American dream of homeownership, and how that dream was shaken by the collapse of the housing and mortgage markets in 2008. In his State of the Union address to the nation, the president offered hope to homeowners trapped by falling home values and rising interest rates through a plan to cut red tape so homeowners can refinance to take advantage of currently low-interest rates.

Not addressed by the president, but of equal importance to people whose homes are worth less than their mortgage debt, is the extension of the Homes Affordable Modification Program (HAMP). Launched by the federal government in 2009, HAMP was slated to expire on December 31, 2012, but was extended for one year to December 31, 2013.

HAMP offers incentives to mortgage lenders to encourage them to refinance and modify existing mortgages by lowering interest rates and reducing mortgage balances to the current value of the property. The extension of the program included an expansion of the eligibility rules to make it available to more homeowners.

Details of the new HAMP eligibility criteria will be released to mortgage lenders and servicers in February 2012. Homeowners can begin submitting applications under the new eligibility guidelines in May 2012. Until then, homeowners can submit applications for modifications under HAMP to their lenders under the existing eligibility guidelines.

According to the information available so far, the following are the main changes to the program:

• Homeowners found to be ineligible under the current debt to income ratio of 31 percent may be eligible under the new criteria.

• Non-owner occupied homes and owner occupied homes with tenants are not eligible under the current program. The new guidelines would allow tenants in part of the home as long as the homes are owner occupied, or the owner intends to take occupancy.

• People who were approved for a HAMP trial period, but did not make the payments as scheduled, would be eligible for consideration for a modification under the new eligibility criteria.

• Homeowners who missed payments under an approved HAMP modification, as opposed to a trial period, would be eligible to reapply under the new rules.

The new refinance program unveiled by President Obama, and the extension of the HAMP initiative with new eligibility guidelines, promise to offer foreclosure alternatives to at-risk homeowners struggling under the weight of mortgage debt.

I invite you to like my fanpage on facebook, follow me on twitter and connect with me on linkedin. I hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

I will always be available for personal service by phone or email, so feel free to contact me with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Sincerely,
Bob Ashworth

Building Your Credit Score

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home SWFL, Cape Coral Real Estate, Cape Coral Realtor, Clean Credit, Credit Report, Credit Score, Florida Real Estate, Improve Credit Score, Lower Your Interest Rates, Realtor, Selling your Home, SWFL Real Estate, Uncategorized

I’m always looking for ways to help my clients prepare for their new home purchase. Below are some useful tips I recently came across on how to better your credit score so you can get the best home loan possible! Thanks for reading and please share this blog post with anyone you feel might find it useful!

Higher Credit Scores = Lower Interest Rates

Whether you want to buy a house, a condo or a piece of property to build your dream house on, good credit will get you the loan you need at the lowest interest rate possible.

But even if you have a bad credit score from unexpected life situations that couldn’t be helped, there are still lots of things you can do to improve your score

1. Find out your free credit score

You’ll need a score of 660 or higher in order to qualify for most mortgages, but shoot for a credit score of 720 or above to get the best interest rates, which are 1-2 percentage points lower. A few percentage points may not seem significant, but they translate into thousands of dollars difference on your loan.

If you had a $300,000 mortgage for 30 years, the difference in rates could add up to $100,000 in interest. That’s a huge difference that you could save on if you had a better credit score!

2. Check your free credit report card

Pay close attention to your credit card utilization and payment history, which each account for a large portion of your credit score. Your derogatory marks is also worth your time, since an account in collections will really hurt your overall score.

3. Fix it!

If you have a large amount of debt, make an effort to pay it off. Decreasing your credit card utilization by paying down credit charges is a great way to help improve your credit score.

If you have any derogatory marks that you don’t recognize, pull your full, free credit report from Annual Credit Report and investigate. If you find something that’s not yours, get it removed.

4. Wait for it…

Your credit won’t be fixed over night, but by taking a proactive approach to fixing your credit, you can expect to see improvements in six to twelve months. In the meantime, hold off on new credit cards or loans, since the hard inquiries that come with that will ding your credit score.

You can also spend the time researching what kind of mortgage you want. I can help you with this – I can guide you through this process and help you find rates for different mortgages and a mortgage affordability calculator to see how much you can afford.

Taking the steps to improve your credit score can help you will save tens of thousands of dollars with a lower interest rate. Contact me for more details on how you can find and secure the home of your dreams. I’m here to answer all your questions and to help you get on the right track to buying or selling your home!

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Sincerely,
Bob Ashworth

The Market is Changing!

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home SWFL, Cape Coral Real Estate, Cape Coral Realtor, Clean Credit, Credit Score, Florida Real Estate, Home Affordability, Homes for Sale SWFL, Lee County Homes, Realtor, Selling your Home, SWFL Real Estate

Buyers who have been waiting on the sidelines for home or condo purchases in SW Florida should wait no longer. The median price of all single family homes in Cape Coral sold during the month of January 2012 rose 33% since January 2011 from $89,525 to $119,000 in January 2012. Condo values appear to have bottomed out and are showing signs of pressure towards higher prices. The unprecedented value at which homes and condos could be purchased for is slowing but surely slipping away as we lean towards a more normal market.

In addition, due in part to low prices and historically low interest rates, home affordability conditions have reached their highest level since record keeping began in 1970. Rarely do we see low prices and low rates at the same time. Buyers over the past 2 years have been able to solidify their financial futures in these tough economic times by purchasing a home at 1/2 it’s “true” value, while financing it at severely depressed rates saving them even more money monthly, and over the term of their mortgage.

Unfortunately qualifying for a home loan is more difficult today than it has been at almost anytime in the past, with the exception of when you were required to have a 20% down payment. Today it is so important to keep your credit clean, and to be able to document all income either through W2 and or pay stubs if employed or with copies of your tax return, 2 years please!, if self employed.

We invite you to like us on facebook, follow us on twitter and connect with us on linkedin. We hope that you find our website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

We will always be available for personal service by phone or email, so feel free to contact us with questions any time! My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

Sincerely,
Bob Ashworth

Welcome to Bob’s Blog

Posted in Bob Ashworth, Bob Ashworth Realtor, Buying a Condo, Buying a Home, Buying a Home SWFL, Cape Coral Real Estate, Cape Coral Realtor, Florida Real Estate, Homes for Sale SWFL, Lee County Homes, Realtor, Selling your Home, SWFL Real Estate

Hello and thank you for visiting my blog. I know that buying or selling a home is one of the most important things you will ever do, and we want to help make that experience as smooth and successful as possible.

My name is Bob Ashworth, Realtor, CBR, CDPE and I’d like to welcome you to my blog! I specialize in helping buyers and sellers navigate the ever-changing waters of the SW Florida real estate market. This space is designed for bringing you the latest information, news, details, tips, advice, do’s and don’ts in the real estate industry. I’m here to educated you and create awareness on those topics that you need to know about in order to make the best decision that’s right for you!

My offices are located on 2326 Del Prado Blvd. S., Cape Coral, FL 33990. You can reach me at 239-425-2503 or email me at Bob.Ashworth@gmail.com and you can visit my website at www.BobAshworth.com.

My extensive experience and expertise in the Cape Coral, Fort Myers, Fort Myers Beach, North Fort Myers, and Lehigh Acres real estate market will benefit you whether you are looking to buy or sell a home in the area.

Buying a home?

Buyers benefit from my experience and negotiating skills. 

My pledge to you as a home, land or condo buyer is to work with you to identify your wants and needs, and then work to fit those within your budget. I will never try to sell you a property, I will help you buy one; the one that is right for you and your budget.

Selling your home?

Sellers benefit from my Unique Home-Selling System.

I’m committed to selling your home in the least amount of time, and for the most amount of money that the market will bear. We’ll accomplish this by posting multiple photos and virtual tours to dozens of websites, utilizing a 24 hour toll free hotline, and creating a property address specific website with a Quick Response code.

I invite you to like my business page on facebook, follow me on twitter and connect with me on linkedin. I hope that you find my website to be a great source of information and visit often. Whether you are looking for Homes for SaleMoving Resources, or even Mortgage Information everything you need is right here.

I will always be available for personal service by phone or email, so feel free to contact me with questions any time!

Sincerely,
Bob Ashworth