Active Duty Military Mortgage

PCS Orders in Hand …Now on a Quest for Essential Apps for the Military PCS

Moving-boxes-in-a-houseBy: Williamsburg Military Insider

All of us Military members have become quite savvy when it comes to our PCS moves.  I recently discovered some great apps that are essential and very convenient to help with your upcoming PCS.   I really enjoyed around me; so awesome when driving across the country.

1. Moving Day – Free (iPhone, iPod Touch, iPad)

Military movers know how overwhelming a home filled with boxes can be. It is likely that you have also had the experience of opening a box that is labeled “kitchen” only to find tools from the garage. Moving Day gives you the opportunity to easily catalog all of your things as you or the movers pack. Built-in bar code scanning and label-making will ease the struggle of locating particular items within a sea of cardboard. Helps to quickly identify what boxes/items are missing or what items may be damaged. Photos taken as the items are packed will provide documentation for insurance or damage claims. Print or email reports directly from the app.

2. Moving Van – $1.99 (iPhone, iPod Touch)

Similar to Moving Day, this app will allow you to inventory the contents of each box, include a photo of the items and assign each box with a unique name or number. Find that you are searching high and low for the box that contained your kitchen towels? Simply search for the specific item and the app will identify which box it is located in. It might be helpful to have friends and family with this app to help you during the packing process as it is tough to keep up with the packers sometimes.

3. Moving List – $2.99 (iPhone, iPod Touch)

Utilize the pre-populated to-do lists created from 95 common moving tasks. Create and add your own list of important items and organize them by category or due date. Great way to keep your lists organized and accessible to you at all times.

4. Moving Checklist Pro – $0.99 (iPhone, iPad) Another app with over 210 moving related items that can be used to create checklists and timelines. Create your own or use pre-loaded checklists, which can be emailed to friends and families so they know how they can help ease your stress.

5. My Move – Free (iPhone, Android, Kindle Fire) In addition to a complete moving checklist, the My Move app will calculate your household goods moving weight, which can be extremely useful for military families that are considering a full DITY or partial DITY move. Requesting a specific mover may not always be an option for military families, but you may be given the choice of a few approved providers. Reading the online reviews may give you a leg up when trying to make a decision of this nature.

6. Moving Guru – Free (Blackberry, iPhone) This app offers features similar to the other apps mentioned, such as chronological task lists, but one cool feature it offers is the “We’ve moved” notification that you can send to pre-selected phone contacts. Change of address cards are still nice to send out, but this is certainly a less expensive and quicker option.

7. iHandy Level – Free (iPhone, iPod Touch, iPad) You have finally made it to the stage where you are ready to hang your photos on the wall and having the iHandy Level will ensure that every item you hang is on the level. Portrait and landscape options housed in a classy wood grain interface may make you feel like a professional carpenter.

8. Yelp – Free (iPhone, iPad, Android) You are settled and ready to explore your new surroundings. Apple and Android users can utilize this app to find everything you need to make this new place your home. Gather information on local business with details such as address, hours, price, reviews, tips, and deals. Easy access to directions and the opportunity to book reservations for restaurants using Open Table. It just may be time to try out that Thai restaurant down the street!

9. Around Me – Free (iPhone, iPod Touch, iPad, Android) Similar to Yelp, this app is also available in both platforms. With GPS locating, this app will show you gas stations, banks, hospitals, hotels, supermarkets, theatres, and other essential amenities that are nearby. Find the location on a map and quickly get directions from your current location.

10. Military Traveler (Free iPhone) Military Traveler is a universal base directory application for iPhone and Android. It contains information like phone numbers, hours of operations, websites and more for establishments on military installations

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Support and Guidance for Homeowners

Today I was doing a little research on organizations to help Military Families with the current housing market I came across. HOPE NOW is an alliance between counselors, mortgage companies, investors, and  other mortgage market participants. This alliance will maximize outreach efforts  to homeowners in distress to help them stay in their homes and will create a  unified, coordinated plan to reach and help as many homeowners as possible. The  members of this alliance recognize that by working together, they will be more
effective than by working independently.

New HAMP Enhancements Will Help Military Homeowners who are PCSing

I wanted to share this post from the Treasury Department.  I am excited about this change and the possibility it will help many Military Homeowners current in their Mortgages.  The effect date for this is June 1, 2012

In the last few weeks, Treasury and the Office of Servicemember Affairs at the CFPB have worked together to address this issue. And, as a result, Treasury is making important changes to its Home Affordable Modification Program (HAMP) that will provide more opportunities for mortgage assistance to military homeowners.

I Recently had a Short Sale In Williamsburg, VA When Can I Get a Mortgage Again?

By: Williamsburg Military Insider

The chart below is a great tool to give you a basic guide when you might qualify for a mortgage again, if you have had a Short Sale. With a conversation with Nina Efird of Suntrust bank if you had a VA Compromise Sale, the VA is requiring you to pay back the delinquency if you would like to have full eligibility.

The specific wording on the VA official site includes the following;

“…although the veteran’s debt was waived by VA, the Government still suffered a loss on the loan. The law does not permit the used portion of the veteran’s eligibility to be restored until the loss has been repaid in full.”

If a VA loan applicant is notified that a debt to the government exists, or was aware of the debt prior to applying for the loan, it’s a very good idea to contact the VA directly to work out the details of repayment before trying to apply for a new VA mortgage.

Another important fact to remember–you may still be able to take advantage of any unused VA loan eligibility. If a borrower did not use the full entitlement on the previous VA mortgage, any remaining entitlement may be allowed.

A borrower’s debt to the government for a compromise claim could be factored into the debt-to-income ratio unless the lender feels the compromise claim debt is too large compared to other financial factors. Such debt might result in the need for a down payment, or a larger down payment than usual–requirements will differ from lender to lender.

 http://www.benefits.va.gov/homeloans/faqelig.asp

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com

Want to Buy a Home in Williamsburg, VA … Now is The Time!

Congratulations to Clinton and Jessica, who closed on their new home in February! We had a great time house hunting for their dream home on 4 acres in New Kent where they can have horses and plenty of room for kids to roam. They got a deal on the house and a great interest rate (only 4% on a VA loan!). It’s a great time to buy!

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com

Saluting Our Military Community in Hampton Roads….on Real Estate Market Watch Talk Radio

Listen live this Wednesday March 14, at 4pm for “Saluting our Military Community” On the Real Estate Market Watch…the Power Hour of Real Estate Talk Radio! Liz Moore the host has myself, Alan Johnson, and Jim Baldasare as guest.  We are going to chat  about how our military clients can buy a house for a dollar in Hampton Roads, a VA Mortgage and may be able to win an opportunity to sell a house for free!  You will not want to miss this!

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com

Active Duty Military Short Sale Program…Great News for Hampton Roads Active Duty Military.

By: Williamsburg Military Insider

With the press release of from the White House earlier this week; there is some great news for Military Home owners who are underwater on their mortgage with PCS orders in hand. The settlement came about by the Department of Justice Reaching Agreement to Compensate Servicemembers for Wrongful Foreclosures.  If you currently have a Home Mortgage from one of these lenders Bank of America, Chase, Citi, Wells Fargo, and Ally and faced with a short sale possibility.  Under the National Mortgage Settlement working with your lender, all of the participating servicers will provide mandatory short sale agreements and deficiency waivers to certain service members who are currently ineligible for HAP.

  • JPMorgan Chase/Washington Mutual
    Chase Homeownership Center
    (866) 372-6901
  • Ally Financial-GMAC
    (800) 766-4622
  • Citibank/Citimortgage
    (866) 272-4749
  • Wells Fargo/Wachovia
    (800) 288-3212
  • HUD-Approved Housing Counselor
    (800) 569-4287

After talking with your lender and you meet the guidelines, Active Duty Service Members  who bought their homes between July 1, 2006 and December 31, 2008, or who received a PCS after October 1, 2010 you want to get with your Realtor who is knowledgeable with a Military Move.  A Military Friendly Realtor will be able to guide you through the short sale process and work with your lender in getting it accomplished.  The National Mortgage Settlement page has a lot of useful information how it directly affects Active Duty Service members.

If you live in the Hampton Roads area and have any questions on starting the short sale process please feel free to contact me.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com

Hampton Roads…What do you think about the National Mortgage Settlement?

By: Williamsburg Military Insider

State and federal officials this morning announced a $26 billion settlement with five major U.S. banks regarding their shameless treatment of distressed homeowners and borrowers in foreclosure. This should make life easier for people currently in the pipeline or who face default down the road.   You can read all about the settlement at http://www.nationalmortgagesettlement.com/

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763 e-mail me at jenniferhernandez@lizmoore.com

 

Active Duty Military in Hampton Roads, and Want to Play the Housing Game and Win!

By: Williamsburg Military Insider

Today’s military consumers face a real estate market that’s drastically different from the housing boom of just a few years ago.

But while the go-go days of soaring prices, bidding wars and fast transactions may be over, that doesn’t mean there aren’t good options for buyers and sellers. If you are planning to buy or sell a house soon, you still can develop a winning strategy and master the housing game.
If You’re Selling

Avoid sentimentality. You need to emotionally detach from your home when you begin contemplating selling. You don’t want to be thinking about all that went on in the home over the years. Today’s consumer needs to be logical about what they are doing so they can part with the home more easily.

Be realistic about pricing. Find a Military friendly agent and do evaluations of comparable properties that have sold nearby. Your Realtor can make recommendations for pricing your home.  You want to be careful and not overprice. There are a lot of choices out there, and you don’t want buyers to cast your home aside right away because of the price.

Think like a salesperson. Market where the people are: real estate and social networking websites. Be aware that potential buyers are judging your home from the street or from photos on the Web long before they get a closer look. You want to have good curb appeal and no clutter.  You want to make your home look inviting. Compare it to the competition — the other homes for sale in your area — and do what you can to make it better than the other homes the buyers are seeing.

Be flexible. Be willing to offer incentives, such as paying for closing costs, moving expenses, new appliances or upgrades. You don’t necessarily want to deeply discount your home. But  you do want to  keep in mind that you want to sell. Some things are worth holding out on, but don’t stand so firm on everything that you lose the deal.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763  e-mail me at jenniferhernandez@lizmoore.com

Curious How Local Lenders Verify Employment for Active Duty Service Members in Willilamsburg?

By:  Williamsburg Military Insider

After just personally going through a refinance of our home with a VA Loan, I was reminded of how lenders verify employment for Active Duty Service Members. Verifying a prospective homebuyer’s employment is one of the key steps of the loan process.

VA lenders need to ensure a borrower has a steady, reliable income stream that’s likely to continue and that covers their future housing needs. For veterans, military spouses and others, lenders will send a Verification of Employment (VOE), an official VA document, to past and current employers.

But the process is a bit different for prospective homebuyers still actively serving in the military.

Different Paperwork
Lenders will require a Leave and Earnings Statement (LES) instead of a VOE for active service members. It contains the same basic financial information. Active duty members can acquire their LES online by using the MyPay portal at https://mypay.dfas.mil/mypay.aspx.

Base pay counts as stable and reliable as long as the service member isn’t within a year of release from active duty. Lenders can also include as effective income a service member’s Basic Allowance for Housing and occasionally other military allowances — clothing, flight pay, combat pay and others — provided they’re verified and expected to continue.

Service members within a year of their release from active duty or the conclusion of their contract term can present a unique challenge.

Nearing Discharge
If their discharge date falls within 12 months of the anticipated date of their loan closing, the lender has to take a few extra steps to satisfy the VA. It makes sense, considering there may be uncertainty regarding the type of job and income that awaits the recently discharged veteran.

Given those potential question marks, lenders typically have to document at least one of the following four elements, if not more:

• That the service member has already re-upped or otherwise extended active duty service beyond that 12-month window, or
• The service member has a legitimate job offer in the civilian world (information about earnings and other standard data has to be included), or
• Significant underwriting factors that compensate for uncertainty, such as a down payment of at least 10 percent or noteworthy cash reserves, or
• A written statement from the service member declaring his or her intent to reenlist or extend service, along with
• A written statement from a commanding officer confirming the member’s eligibility to reenlist or extend service and that it’s likely to go through.

I am a REALTOR with Liz Moore & Associates Also; I am part of the Liz Moore & Associates’ Military Team which specializes in homes for sale in James City County, Newport News, Hampton, York County, Poquoson, and Williamsburg, VA as well as surrounding markets. I offer Active Duty friendly support to families relocating to Langley Air Force Base, Ft. Eustis, Yorktown Naval Weapons Station, and Cheatam Annex. When you PCS to Hampton Roads, VA you will find that I understand that when a family member joins the military, the entire family belongs…thank you for serving our Country, and I look forward to serving your real estate needs!

When you are transferring to Langley AFB, Ft. Eustis, Yorktown Naval Weapons Station or Cheatam Annex, if you’re interested in buying a home for sale call 757-651-3763   or e-mail me at jenniferhernandez@lizmoore.com