Congratulations to Moe Mathews, Steven Kimler and Alan Stephens on becoming our newest franchise!
Fresh Start Property Solutions, LLC is owned by the three partners, and they will be buying Ugly Houses in the Richmond, Virginia area. They were referred by DA Ann Mullikin.
Congratulations and welcome to the We Buy Ugly Houses team!
Thanks to Rickey Williams with WFI for submitting this:
FHA is thinking of reducing the seller contribution from 6% to 3%. But they are asking for your info on this topic. Your comment does not need to be a “yes” or “no”. Maybe you think the seller contribution should be based on the sales price or credit score. Here is the link to give your thoughts: http://www.regulations.gov/search/Regs/home.html#documentDetail?R=0900006480b1a605. Click on “submit comment” on the top right. Part of the possible changes also include the increase of the min credit score for the min down payment of 3.5% or more of a down payment. But most lenders require a min credit score of 620 or higher, so this is not a topic to address. Please vote today as the reduction in seller contribution could affect our business.
HR 4173 is the financial reform bill that has been the highlight of news coverage and congressional debate for the past few weeks and months. The bill has been passed, albeit in two different forms, in both the House of Representatives and the Senate.
The version passed by the House includes a provision to limit the extension of seller financing to one transaction per thirty six months (3 yrs). It would require that any seller who offered their own financing more than once in any three year period to become licensed as a mortgage loan originator. The Senate’s version of HR 4173 is entirely different. It does not include any similar provision.
As two different versions of the same bill passed in the chambers a "conference committee" has been appointed to try to establish a compromise between the two bills. Just over 30 Senators and Congressman are on this committee, all of whom are listed below with live links to their websites.
CALL TO ACTION:Please contact your legislators and let them know that you would like to see the provision requiring individuals to become licensed as Mortgage Loan Originators (House version, Title VII) to sell their own properties removed. We ask you to courteously inform your legislators of your position on this conference, and that you will be following the activity on this issue.
The contest is also helping give some coordinators like Mike Hambright their 15 minutes (or maybe 30 seconds) of fame, like on this news story on NBC TV
Team HVA finest and best gather to learn and share what is happening in the market for the New Team HVA in Rockwall, Texas.
This is the best time ever to be on Team HVA. Go to www.theugliesthouse.com and vote on the Ugliest House and register for more information about how you can join Team HVA.
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