Realtors Give Back!

PRINCE GEORGE’S COUNTY ASSOCIATION OF REALTORS®

9200 Basil Court, Suite 400  •  Largo, MD 20774

301-306-7900 phone  •  301-306-8273 fax  •  pgcar@mris.com

FOR IMMEDIATE RELEASE

May 22, 2014

CONTACT:   

Joan Ostenso, Executive Vice-President – 301-306-7900jostenso@pgcar.com

                        Don Frederick, Chair, Scholarship Committee – 240-601-4690

                        
County REALTORS^® Award $8,000 in Scholarships to High School Seniors

The Prince George’s County Association of REALTORS®, the county’s leading advocate for real estate and private property rights, is presenting three Prince George’s County high school seniors with $2,500 college scholarships, and one $500 scholarship through the Association’s David Maclin Memorial Scholarship Fund.

The David Maclin Memorial Fund, is one of the Association’s premiere community service endeavors. In honor of the late REALTOR David Maclin’s contributions to Prince George’s County, the fund recognizes a student’s commitment to community service, based on the theme “How I Made A Difference In My Community”.

At a special “Fun Run” 5K event on April 12^th, at the Community of Marlboro Ridge, four Prince George’s County senior graduates were recognized for their scholarship. In addition, over 100 REALTORS and others participated in the run to raise money for the fund to help sustain its future availability to Prince George’s County students.

“It’s not easy reading and picking just a few essays because you want everyone to win”, said  committee member, Linda Simpson.  “Some of these students really work hard and are making a difference in their community and it’s just amazing”, commented Donald Fredrick, Chair of the David Maclin Scholarship Committee.

“I like to hear the stories of how the scholarship has helped each recipient and to see them after they graduate college” said Juanita Maclin, the Co-Chair of the Scholarship Committee and the wife of the deceased, David Maclin.

Those that received this year’s 2014 scholarships are:

Dy’Mon Walker of Henry A. Wise, Jr. High School is planning to attend Spelman College – Awarded $2,500

Amarachi Ekekwe from Bladensburg High School will attend Bucknell University –Awarded $2,500

Natassja Pupuma of Henry A. Wise, Jr. High School will attend Morgan State University – Awarded $2,500

Faith Esene of Charles Herbert Flowers High School, will attend The University of Maryland – Awarded $500  

PGCAR is the voice for REALTORS^® in Prince George’s County, Maryland. Representing more than 2,800 real estate professionals in the national capital area, PGCAR provides numerous services vital to its members' daily business needs. It also works with lawmakers to ensure public policy that encourages homeownership, promotes an environment conducive to business growth and works to improve the communities in which its members live and work. 

Michael Graziano

Director of Government Affairs

Prince George’s County Association of REALTORS, Inc.

9200 Basil Court, Suite 400

Largo, MD 20774

O 301-306-7900

mikeg@pgcar.com

Available Listing - 2301 Penrod Ct Upper Marlboro MD 20774

Connect with me on:

KELLER WILLIAMS REALTY | 9701 Apollo Drive, 102 | Upper Marlboro | MD | 20774

Add frank@frankgodfrey.com to your safe senders list. Click here for directions.

5836 E. Boniwood Turn, Clinton MD 20735 - For Sale!

How the Shut Down Impacts Your Mortgage Loan Processing

The Federal Government shutdown has occurred. 

So what does this mean to you, in general?  For the most part not much, unless it is for an extended period.  The most serious impacts are felt by USDA buyers.  Below is a general outline of what affects it will have on our industry.  These affects may change by lender.

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 FHA Loans

·         Lenders will be able to obtain a FHA case number from the FHA Connection

·         Limited FHA staff to respond to questions

·         CAIVRS will be available to determine if a borrower has a delinquent federal debt

·         FHA Total Scorecard will be available

·         FHA will collect the Upfront MIP during a shutdown

VA

·         The Department of Veterans Affairs (VA) will continue to operate if there is a government shutdown, which means lenders will be able to continue originating VA-guaranteed loans.  Both lenders and borrowers will be able to obtain the Certificate of Eligibility online, and they will still be able to submit applications and follow up on COEs that require more research with the Atlanta Eligibility Center.

Will VA loans be adversely affected in any way?  Answer = no

USDA

·         Indications are that Rural Development will cease all but essential functions and no new loans or guarantees will be made.

Will we be able to obtain a conditional commitment?  Answer = No

Can we close a loan without the conditional commitment?  Answer = No

Can we close a loan if we have the conditional commitment?  Answer = Yes

Internal Revenue Service (IRS)

·         The IRS will NOT process any forms, including tax transcripts (Form 4506T).

Can we close loans without the tax transcripts?  Answer = No

Social Security Administration (SSA)

·         The SSA will likely NOT be able to verify social security numbers.

Can we close loans without verifying the social security number?  Answer = No

Fannie and Freddie

·         Fannie and Freddie would not be directly affected, except to the extent they rely on verification and other functions of HUD, IRS, and SSA.

Federal Reserve

·         The Federal Reserve – including the reserve banks – is not funded through the annual appropriations process;  thus a government shutdown would have no impact on Federal Reserve operations, including payment system and open market functions.

Consumer Financial Protection Bureau (CFPB)

·         The CFPB is not funded through the annual appropriations process; thus a government shutdown should have no impact on CFPB operations.

FEMA Flood Insurance

·         It is likely that mapping issues or amendments will be impacted.

·         Most functions will be unaffected because of their use of contractors and public/private partnerships.

Will I be able to get flood insurance?  Answer = yes

If the subject property is not yet mapped by FEMA and needs research by FEMA will my loan be affected?  Answer = yes

Can I close the loan if mapping research cannot be completed by FEMA?  Answer = no

Call or email me with any questions.

George Flower IIINMLSR ID 193157

Branch Sales Mgr - Prod
Prosperity Mortgage Company | 590 Baltimore PK FL 1 | Bel Air, MD 21014
Phone (410)274-7252| Fax (866)359-2062

george.floweriii@prosperitymortgage.com

www.georgeflower.com

New FHA Program Seeks to Return Foreclosed Borrowers to Homeownership

Housing Options & Planning Enterprises, Inc.  September 9, 2013 Real Estate Professionals,   The FHA "Back To Work" Program Is Official!   That's good news for borrowers who lost their home due to specific financial hardships but can now demonstrate they have regained their previously lost financial ground.  Housing Options & Planning Enterprises, Inc. (H.O.P.E.) * FHA Question & Answers Forms   New FHA Program seeks to return foreclosed borrower to homeownership After more than 2.5 million foreclosures, the Federal Housing Administration (FHA) is now offering a Homeownership Program that will put previously troubled borrowers back on a fast-track to the home ownership market. The new program known as "Back to Work - Extenuating Circumstance" cuts the standard three-year waiting period to only 12 months.  The list of eligible financial hardships reads like a list of housing crisis woes: · Chapter 7 or Chapter 13 bankruptcy · Deed-in-lieu · Forbearance · Foreclosure · Loan modification · Loss of income, employment or both that totaled at least 20 percent of previous earnings for at least six months - including copies of applicable termination notices or changes in employment status · Pre-foreclosure sales · Short sales Additionally, consumers must also meet other verifiable measures to participate in the program: · Proof of borrower's current income - usually W-2 forms or federal tax returns that show the desired mortgage would be affordable and sustainable; · Credit history pre and post the eligible hardship event that is free from late payments or other major credit issues, including rental housing payments and accounts delinquent by 30 days or more; · Credit score of at least 500; and · Housing counseling by a HUD-approved counselor at least 30 days but no more than six months before submitting an FHA application. For consumers meeting all of these criteria as well as other standing FHA mortgage guidelines, the Back to Work program is now available nationwide through FHA-approved lenders. Once participating lenders determine that mortgage applicants meet all eligibility and policy criteria, the same 3.5 percent minimum FHA down payment requirement will apply. Mortgage insurance and closing costs will also apply. Only one FHA program is ineligible for the Back to Work program: reverse mortgages. For more information about FHA "Back To Work" Program the Question & Answer form is link above.  Thank You,  HOPE Team HUD Approved Housing Counseling Agency. Visit Our Wedsite at HOPEfinancial.org

Independent Foreclosure Review for Distressed Homeowners

What Your Realtors (R) Do For You

Dear Angel, You did it! Late last week Congress finally acted on one of our key legislative priorities, a 5-year reauthorization of the National Flood Insurance Program (NFIP). The pundits said nothing would be accomplished in an election year. But you proved them wrong because you didn’t give up, and you have the victory to confirm it! The 5-year reauthorization will bring certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage. The bill ensures the program will continue long-term for more than 5.6 million business- and home owners who rely on it. This has been a long, arduous battle. The NFIP suffered through 25+ short-term extensions; hobbling along for more than seven years without a long-term reauthorization. Because of your resolve, NAR's management and leadership, and most importantly you, stayed the course to give lenders and homeowners more certainty in the mortgage and real estate market place with available flood insurance for existing homeowners and those buying and selling. I am sending you this email to reinforce the commitment NAR made to you. As one of our key activists, and every other member, you expect us to persevere on issues of importance to consumers, homeowners, and future homeowners. It was your charge to us not to give up, not to accept anything less than a long-term reauthorization of NFIP. We battled to get every short-term extension until the full 5-year reauthorization was approved. I am proud of you. New battles surely lay ahead and there will few easy victories.  Now more than ever, it is our responsibility to be steadfast protectors of the American Dream of homeownership. If not us, who? If not now, when? So, when we call on you like we did to rally, when we call on you like we do to respond to the calls for action, and when we ask for you to invest in RPAC, please, continue to show your commitment.  This latest legislative victory shows what the REALTOR® Party can accomplish when we choose not to give up or give in. Have a great Fourth of July weekend everyone! Rally on REALTOR® Party! Moe Veissi, 2012 NAR President REALTORS® are the Heart of the Deal! Stay Connected:

Everyone Has Questions About HAFA and HAMP

Home » Programs » View All Programs

 View All Programs

Get real help, real answers, right now. Whether your home value has fallen, you owe more than your home is worth, you're experiencing financial setbacks or you've become unemployed, Making Home Affordable is your best option for solving your home finance challenges.

"There are more solutions for homeowners today than there have ever been."

Gary - GMAC Mortgage

MHA options include:

• Home Affordable Modification Program (HAMP^®)
• Principal Reduction Alternative SM (PRA)
• Second Lien Modification Program (2MP)
• FHA Home Affordable Modification Program (FHA-HAMP)
• USDA’s Special Loan Servicing
• Veteran’s Affairs Home Affordable Modification (VA-HAMP)
• Home Affordable Foreclosure Alternatives Program (HAFA)
• Second Lien Modification Program for Federal Housing Administration Loans (FHA-2LP)
• Home Affordable Refinance Program (HARP)
• FHA Refinance for Borrowers with Negative Equity (FHA Short Refinance)
• Home Affordable Unemployment Program (UP)
• Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HHF)

 

Key Terms on This Page:

Mortgage Modification, Principal Reduction, Second Lein, Refinance

Last Updated: 6/15/2012 3:03 PM

Baltimore Builds Expo

Open House May 19th 12-2pm, May 20th 1-4pm

OPEN HOUSE MAY 19th 12-2pm, May 20th 1-4pm

Fight to STOP the County's 20% Recordation Tax INCREASE!

President's Letter County Budget; Hard on Real Estate Join us this Monday at 7 pm Fight to STOP the County's 20% Recordation Tax INCREASE! Please make every attempt to attend the Prince George's County Council Budget Hearing. By showing up in force, we send the message that PGCAR Members care about home ownership and will stand together to oppose this increase!   Prince George's County Fiscal Year 2013 Budget Hearing Monday, May 7 at 7 pm County Administration Building 1st Floor Hearing Room 14741 Governor Oden Bowie Drive Upper Marlboro, MD 20772 Contact County Executive Rushern Baker and Your County Council Take Action Today > Recently, County Executive Rushern Baker released his budget proposal for fiscal year 2013. We applaud Mr. Baker's commitment to education and public safety; however, as a representative of the trade association representing over 2,500 Prince George's County real estate professionals - and the only voice for the homeowners they serve - we, as REALTORS®, have grave concerns about this budget's negative effect on housing. The FY 2013 County Budget proposes a 20% increase in the County property transfer recordation fee, raising it $1.00 per $1,000 in home sale price. That's an additional $300 in closing costs on a $300,000 home purchase. Upfront buyer closing costs - including recordation fees, transfer taxes, property taxes, down payments and lender fees - are the largest impediment to homeownership. Much to our dismay, Prince George's leads the Maryland DC Metro area in closing costs. In a statewide comparison, Prince George's ranks 3rd in closing cost expense; higher than 21 other Maryland Counties. Additionally, at 1.4% of the closing price, Prince George's ranks 1st in the Maryland DC Metro area in transfer tax burden. For another "first," Prince George's leads the Maryland DC Metro area in property taxes; besting our neighboring jurisdictions Montgomery County and Calvert County by approximately 30% and 32%, respectively. Another disheartening point is that our citizen homeowners disproportionately fund this budget through real estate taxes that provide over 70% of County tax revenue.   Alease Bowles 2012 PGCAR President Homebuyers are already struggling to get the necessary capital together to buy homes. This increase lessens their ability to purchase. For sellers, it lessens the pool of ready, willing and able buyers seeking to enter the marketplace. Unfortunately, the County is experiencing a very challenging housing market. Prince George's single family property settlements are down 4.1% compared to March 2011; condominium settlements are down 5.7% compared to March 2011. Property values are at extreme lows compared to prior years, and foreclosures and short sales dominate the market. Real estate traditionally leads the economy out of recession and we are poised to do that again as our market stabilizes. Increasing housing costs, however, is counterproductive to rebuilding our local economy and a barrier to stabilizing our local real estate market. We urge County Executive Baker to rethink this unwise proposal. We call on all County residents to contact your elected Council member to express your concerns on this matter. Sincerely, Alease Bowles President, Prince George's County Association of REALTORS®, Inc. PGCAR leadership, over 160 members, and our PGCAR and MAR Government Affairs Directors have already either met with, emailed and/or called our Council members, urging them to oppose this increase in Prince George's County recordation fee.  Please get involved. Attend the Budget Hearing this Monday, May 7 and CLICK HERE  to email your County Executive and Council Members today! President Alease Bowles Letter to Council Members > Recordation Tax and Closing Costs Talking Points >

Prince George's County Association of REALTORS® 9200 Basil Court  :  Suite 400 : Largo MD 20774 Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2012 PGCAR

Free Grant Money for First Time Home Buyers - Buy in Suitland

Buy Suitland

Important Events HQS Workshop (PDF) Lender/Realtor Training Schedule (PDF) Homebuyer 203k Workshop Schedule (PDF) Map of Buy Suitland Target Areas (PDF) Download Brochure Download Brochure (PDF)

Buy within walking distance of the Metro, walk to work at the Suitland Federal Center, be a part of the revitalization of Suitland. The Buy Suitland Program offers an exciting opportunity to purchase a home in the Suitland Neighborhood Stabilization target area, anchored by the Suitland metro station, the Suitland Federal Center, and the planned mixed-use Suitland Manor Redevelopment Project. Through the Buy Suitland Program, income eligible, credit worthy, first time home buyers can receive up to $40,000 in down payment and closing costs assistance, to purchase a foreclosure or short sale property. Take advantage of this great program, become a homeowner and be a part of the Suitland renaissance!

This website outlines specific guidelines for the homebuyer, realtors and lenders. It also provides a self-assessment test to determine if you are ready to apply to the Buy Suitland Program.

Use this link to ensure your property is located in one of the eligible census tracks:
www.ffiec.gov/geocode/default.aspx

Housing Fair and Home Lottery in Gorgeous Prince George's

THE PRINCE GEORGE’S COUNTY GOVERNMENT

Department of Housing and Community Development

Eric C. Brown

RUSHERN L. BAKER, III

County Executive

For Immediate Release

March 8, 2012

Contact: Alexis Revis Yeoman

(301) 883-2760

Prince George’s County to Host Housing Fair Sponsors and Exhibitors Invited

Largo, MD --- The Prince George’s County Department of Housing and Community
Development (DHCD) and the Housing Authority of Prince George’s County invites housing
providers, realtors, property managers, housing counselors, businesses, banks, credit unions,
community organizations, government agencies and non-profits to be sponsors and exhibitors at
the Prince George’s County Housing Fair. The Fair will take place on Saturday, June 9, 2012
from 9:00 a.m. to 3:00 p.m. at the Wayne K. Curry Sports and Learning Complex, 8001 Sheriff
Road, Landover, MD 20785, next to FedEx Field.

Sponsors receive recognition for their organization depending on the level of sponsorship. Some
examples include special recognition on local radio shows and promotional spots; inclusion in
the Housing Fair program; display of sponsor logos on marketing collateral, which may include
publicity posters distributed at libraries, bus stops and other location throughout the County.
Sponsors receive prime booth space at the Fair for displaying their promotional materials. The
Prince George’s County Housing Fair is one of the County’s most successful events, with over
80 sponsors and exhibitors and more than 3,500 participants.

This year, the Housing Fair will offer its first Housing Lottery. Pre-qualified candidates can
enter into a lottery drawing to purchase a home in Prince George’s County for a substantially
reduced price. In addition, DHCD will provide a 5% down payment and closing costs for the
home.

“Our Housing Fair will offer something for everyone,” said Eric Brown, Director of the Prince
George’s County Department of Housing and Community Development. “We are expecting
hundreds of homeowners, first-time home buyers and people in the rental market. The Fair will
be filled with exhibitors, workshops, seminars and important information about a variety of
housing issues.”

The Housing Fair is organized by the Prince George’s County Department of Housing and
Community Development in partnership with the state of Maryland Department of Housing and
Community Development and Howard University’s radio station WHUR-FM 96.3.


9400 Peppercorn Place, Suite 200 • Largo, Maryland 20774
(301) 883-5531 FAX (301) 883-9832
TDD (301) 883-5428


To become a sponsor or exhibitor, contact Nicole Garrett at 301-883-5094 or email
nggarett@co.pg.md.us

Program Contact: Nicole Garrett
301-883-5094

Media Contact: Alexis Revis Yeoman
301-883-2760

# # #

311 Beech Street - Rental Immediately Available

Can You Refinance When You Are Upside-Down?

NEW HARP REFINANCE GUIDELINES TO COME OUT IN MARCH

Some of you may or may not know that the HARP guidelines are about to improve in the middle of March.  So be sure to tell everyone that you know about the new opportunity to refinance regardless of the home value!  There are some basic criteria that must be met, but most importantly it must be a Fannie Mae or Freddie Mac owned loan in order to refinance thru the HARP Program.  Don’t assume that your mortgage loan is not owned by these investors look it on both Fannie and Freddie Look -Up Tool.

Look Up Tool:   http://www.makinghomeaffordable.gov/tools/does-fannie-or-freddie-own-your-loan/Pages/default.aspx

Don’t forget about FHA streamlines too.  The guidelines for refinancing can be even better if you have an FHA loan!

Terry Griffith, Loan Officer
NMLS # 455163
http://www.embracehomeloans.com	888 Bestgate Road, Ste 417 Annapolis, MD 21401 Email: tgriffith@embracehomeloans.com Tel: 800.333.3004, ext. 3613 Fax: 877.865.5386 Cell: 202.262.2512
Company Awards & RecognitionsBest Medium Companies to Work for In America – Top 25 (SHRM): 2009, 2008, 2007 Best Place to Work in Rhode Island (Providence Business News): 2009, 2008, 2007, 2006 INC 5000 Fastest Growing Private Companies in America (Inc. Magazine): 2007 Most Community Involved Company in RI (Providence Business News): 2006 Best Small Companies to Work for in America – Top 25 (SHRM): 2005, 2004

Fabulous 5 Bedroom 3 Bathroom.

Got Grant Money? Get Some by Attending this Home Buyer Workshop.

Are you interested in buying a home?

Now is a good time as any to buy a home!

JUST $25.00 for this 8-hour interactive homebuyer workshop

Workshop topics will include:

ü Getting financial fit to buy a home

ü Understanding why credit is important

ü Will the bank say YES?

ü Where to find free down payment money…sort of

ü Shopping for a home

ü The daunting closing documents and procedures

ü I got my dream home - now what??

ü How do I protect my investment

Location and Time

Toll Brothers Marlboro - Ridge Community Center
11401 Marlboro Ridge Road
Upper Marlboro, MD
Saturday, February 25, 2012
9am to 5pm

**Lunch will be served**

Upon completing the 8-hour workshop you will receive a “Certificate of Completion” which is a prerequisite to applying for many down payment/closing cost assistance programs, including the Prince George’s County My Home Program, and the State of Maryland CDA Program.

TO REGISTER: have your client call today - Cherelle Silue at 301-322-5700 ext.119

Call today space is limited!!

FREE 1st Time Homebuyer Course. Qualifies You for Money!

There’s always help with H.O.P.E.

Housing Options & Planning Enterprises, Inc.

Home Buyer Education Seminar

Covering

The Home Buying Process

Loans & Mortgages

Title and Homeowners Insurance

Credit Management

Money Management

Note: This is a FREE seminar and satisfies the Maryland Mortgage Program (CDA) requirements for Anne Arundel County and ALL other County, State and Federal Downpayment Assistance Program requirements for Homebuyer Education.  Certificates will be issued at the conclusion of the workshop to all attendees.

uuu

Seminar Date & Location

Saturday January 21, 2012

9:00 a.m. - 5:00 p.m.

The Stanton Center

92 West Washington Street

Annapolis, MD 21401

Space is Limited.  For reservations please call 301-567-3330 or you may register online at www.hopefinancial.org