The 12 Days of Christmas Tour of Homes



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The Holiday Season is officially underway and it surely is the most wonderful time of the year. To celebrate this season, The Charlotte Mabry Team is hosting a tour of homes. We’ve assembled twelve fabulous homes in the East Brainerd and Ooltewah area to feature this weekend. We’re calling it The 12 Days of Christmas Tour of Homes. 

It’s a fun way to shop around for your next home, (that could be your Christmas tree in the living room this time next year). Be sure to stop by each home, 1 thru 12, everything from the Partridge in the Pear Tree to the 12 Drummers Drumming and everything in between including the 5 Gold Rings. Why all twelve? Aside from the goodies awaiting at each stop, (Santa’s not the only one who gets cookies and milk for going into other’s homes!) if you get the signature of each hosting Agent, you’ll be entered in a drawing for $150.00 gift card—now that’s a jolly way to bring in Christmas!

The festivities are from 2-5pm on Sunday December 2nd. So load up your sleigh and we’ll see you there!

Making Sense of the Government’s Home Affordable Programs



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When the housing market crashed in late 2007/early 2008, no one could have predicted just how challenging the housing industry would become. Yet today, after five years we are finally seeing recovery on the horizon. Despite the myriad positive things going on in our marketplace, including faster-moving inventory plus historically low interest rates that facilitate increased buying power, many people are struggling with underwater mortgages.

To clearly define the meaning of “underwater” as it is related to housing, when a home is valued at less than what is owed on it or the homeowners are unable to generate enough funds to clear the amount owed, it is a situation where the property is “underwater”.

If you are holding a mortgage that is either already underwater or you are having a hard time keeping up with the payments, it may be time to consider some of the options made available by the government’s line of Home Affordable programs.

HARP – Home Affordable Refinance Program

A very popular choice for countless Americans struggling to keep up with their payments since the interest rates on their existing mortgages are way too high as compared to today’s rates. With this provision, homeowners are able to refinance their home to today’s low rates allowing them considerable flexibility and monthly savings – often saving them from short sale or foreclosure.

HAMP – Home Affordable Modification Program

Some homeowners are unable to refinance their home due to not having enough equity in the home. In these situations, the HAMP program can provide relief by way of a loan modification. Participants in this program are able to obtain a modification on their loan, lowering the monthly payments among other benefits. Effective June 1, 2012 there are additional restrictions previously placed on the program that were lifted in an effort to be more flexible.

HAFA – Home Affordable Foreclosure Alternatives Program

For the millions of homeowners that are facing foreclosure as a result of not being able to keep up with their payments, the HAFA program allows them two alternatives. A short sale is made possible where the homeowner is permitted to sell the home for today’s market value despite the amount being “short” of what is owed. The other alternative is a Deed-In-Lieu of foreclosure – where the mortgage company retains the title of the home after it is transferred back to them.
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In addition to all the great alternatives provided by the Obama Administration’s Home Affordable programs, the current happenings in our housing industry reflect changing trends to benefit homeowners in the future. For instance, right now Fannie Mae and Freddie Mac are working out with Congress ways that you may be eligible for a short sale despite not being behind on your payment.
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If you would like to explore your options or find out more about these and other programs for homeowners, I invite you to contact me today. I look forward to making your real estate goals become a reality!