Down Payment Assistance Programs – How They Work, And How To Use ThemWritten by Rob Beeman
Down Payment Assistance Programs – How They Work, And How To Use Them By Rob Beeman There is more than one form of down payment assistance program available to property buyer seeking them. There are those offered by local governments, be it city, county or state; those offered by federal government; and those offered by non-profit organizations. This will help you understand them, locate them and use them to your advantage if you need them. How can you, as seller of property, benefit from a down payment assistance program? It’s simple; assistance to buyer can help: ·Sell property faster ·Make property attractive to more buyers (especially those with limited funds) ·Put more profit into pocket of seller If a buyer is qualified to gain a mortgage however lacks required down payment, or even necessary funds to close, using a down payment assistance program can now make that non-able buyer an able buyer. So buyer short of cash, who had to pass on other properties because of lack of necessary funds required, can now purchase your property because you directed them to a down payment assistance program. The buyers that you used to have to turn away because of not enough cash required can now possibly become a sale. Thus, faster sale – faster profit. You can now advertise property differently to gain greater response. Consider an ad like this: 555 Maple Lane, 3Br, 2Ba, lg yrd. Own it for only $1000 down! 555-5555. Bet you’ll get more calls! Most of down payment assistance programs have certain requirements that must be met in order to be used. One such requirement is usually need for buyers to have some of their own cash into transaction. The amount of cash required by buyer varies from program to program; however most require at least $500 to $1000 of buyer’s funds to be in deal, or in some cases as much as 1% of sales price. If buyer is using funds offered by a local municipality (city, county or state) in form of a grant or low interest loan (second mortgage), and seller had originally planned on offering seller’s assistance to buyer for settlement help, this will allow seller to gain an additional profit, since little or no seller’s assistance will be needed. As we mentioned earlier, there is more than one form of down payment assistance program available to direct buyers to in order for you, seller, to reap rewards. They are: ·Non-Profit Grants ·Municipal Grants ·Municipal Low Interest Loans We will cover pros and cons of each. What is available will vary in different parts of country, but we will supply you resources to investigate what is available near you. Non-Profit Grants This form of grant is offered by a qualified non-profit organization as assistance to buyer for help with down payment and/or closing costs associated with purchase of their primary residence. The funds, wired directly to settlement agent’s escrow account, come from a “pool” of money available to assist buyers. The amount of funds supplied to assist buyer are deducted from seller’s proceeds at settlement and wired back to non-profit organization after settlement to replenish “pool” in order to help next buyer requesting aide. In addition to reimbursement to “pool”, seller is charged a fee by non-profit organization to cover administration costs. This fee varies between programs and is disclosed in their advertising info. Here are a few of programs that we are aware of: www.nationhomefoundation.org www.housingassistancenetwork.com www.mortgagepages.com / www.partnersincharity.org www.buyers-assistance.com www.fha-home-loans.com www.bmortgage.com/down_payment_programs.htm www.ameridreamcharity.org www.thebuyersfund.com www.getdownpayment.com www.genesisprogram.net www.dsrdownpayment.com www.fhap.org www.nationwidedownpayment.org www.cdsgrants.com www.neighborhoodgold.com www.fairhousingassistance.com www.familyhomeproviders.org www.americanfamilyfunds.com www.ezdownpayment.com www.cornerstonegrant.org www.usadownpaymentassistance.com www.hartprogram.com
A STUNNING SURPRISE FOR AN ATTACKER!Written by Rick Etheredge
One of newer self-defense products on market is stunning ring. It is stunning in true meaning of word.
This beautiful ring comes with pepper spray. Since it looks like a piece of fine jewelry, a potential attacker won’t even suspect he is about to receive an effective shot of pepper spray.
The ring is crafted in silver and gold plating with a black onyx stone. Joggers, walkers, and workers are protected against violence with stunning ring which has replaceable pepper spray canisters. It is especially suited for women as protection against rape, violence or some other crisis.
The stunning ring can be worn on either hand, preferably on first or second finger. The thumb must be accessible to operate safety latch and to depress trigger. You simply point top of ring at face of an attacker, depress trigger and hold it for 2-3 seconds to release pepper spray.