Bill Morris: Texas

Special loan programs -- use responsibly

In the years before the "mortgage meltdown," special loan programs and assistance were everywhere.  In many ways, that is the reason for the meltdown itself, and the reason that qualifying for a mortgage loan is now more difficult and more complicated than it was then.  (Properly contained, fire can keep you warm or heat your food.  Applied improperly it can also burn your house down.  Too easy access to too many programs effectively burned our collective house down, and we are now rebuilding.)

That said, there is assistance available now for home buyers in special circumstances.  Here are a couple that are specific to the Austin area:

FHA Down Payment Assistance

Home Rehabilitation Loans

If I have an opportunity to work with homebuyers who are considering these programs or others like them, I will offer my best professional advice -- and I may well suggest to many that they should just go save some money and buy a home later.  In the right situation, though, and for the right applicants, these programs may be just what's needed.

In all cases, like a TV beer ad, I suggest "borrow responsibly."

Bill F. Morris, ABR, CRS, CDPE, e-PRO, MBA
RE/MAX Capital City
Call or Text:       512-785-3345
Toll-Free:           1-800-692-8784, x 162

Your personal referrals are the best measure of my success!

Comment balloon 0 commentsBill Morris • June 02 2010 04:27PM
Special loan programs -- use responsibly
In the years before the "mortgage meltdown, " special loan programs and assistance were everywhere. In many ways, that is the reason for the meltdown itself, and the reason that qualifying for a mortgage loan is now more difficult and more… more
Short Sales, Foreclosures, and Bargains
Short sales.. Foreclosures.. Bargains. Aren't they the same thing? No! Given the way the popular press discusses short sales and foreclosures, I guess I shouldn't be… more
Just another short brag..
It has been a VERY busy couple of weeks, so I haven't blogged recently. My last post was about a high ranking for Austin that I wasn't so sure was good news -- as a major funder of lobbyists in the State of Texas. As I noted then, I suspect that… more
Is this good news?
I have written many posts to brag about Austin appearing on various Top 10 lists. I don't recall any that I considered "mixed blessings, " but instead thought all were clearly great news for a great city. (If there was a downside to any of… more
Home Sales Surge in March
This article from the National Association of Realtors® appeared this morning in RISMedia, echoing data that has also been reported elsewhere in recent weeks: Pending Home Sales on an Upswing Of course this is good news! In addition to… more
Best and Worst 25 Real Estate Markets
I just posted a few articles on www. AustinMarketInfo. com from HousingPredictor. com: Best 25 Housing Market Forecasts in 2010 Worst 25 Housing Market Forecasts in 2010 Texas Certainly I am pleased to see Austin among the 25… more
Lots to do around Austin!
I wrote a couple of days ago about all the things that make Austin such an attractive place to live, and why we end up on so many Top 10 lists. Yesterday I received this from my favorite title company: This is just the month of May! And… more
Austin recognized again
Earlier this week I noted that Austin was ranked 3rd in the U. S. as a relocation destination, and I have written about numerous "Top 10" lists where the Austin area appeared over the past year. Today, another… more
Travis County tax appraisals down
I just posted this article from the Austin American-Statesman at www. AustinMarketInfo. com : Appraisal rarity: Travis home values drop Notices Of Appraised Value are being mailed this week to property owners throughout Texas. In Travis… more
Another sign of growth expected in Texas
NOTE: This is not an endorsement of a specific mortgage lender. I routinely consult with clients one on one about that subject, but the purpose of this post is simply to highlight another in a long line of decisions made by businesses to invest in… more