Fannie Mae can help

What is Fannie Mae?

Fannie Mae is a financial services company on the New York Stock Exchange (FNM/NYSE) serving the American home mortgage industry. Fannie Mae offers banks and other mortgage lenders financing, credit guarantees, technology and services so lenders can make more home loans to more consumers.

Fannie Mae does not make home loans -- we help mortgage lenders serve homebuyers. By serving more than 1,000 lenders nationwide, large and small, Fannie Mae helps to make home financing more possible for families from all walks of life across America.

Fannie Mae also helps finance affordable housing and community development projects, working with local, state and national housing partners. (For example, we are a major investor in Low Income Housing Tax Credits, which help finance affordable rental housing.) Our goal is to help lenders and housing partners put more families into homes and keep their homes, and to expand the nation's stock of quality affordable housing.

How does Fannie Mae help?

Many Americans still are being overlooked, underserved, and overcharged in their search for affordable homeownership and rental housing options. Fannie Mae is dedicated to helping our partners tear down barriers, lower costs, and increase the opportunities for homeownership and affordable rental housing options for low- to moderate-income individuals and families.

Fannie Mae maintains relationships with a wide range of housing partners, lenders, and other key players to meet specific affordable goals:

• Expand access to homeownership for first-time home buyers and help raise the minority homeownership rate with the ultimate goal of closing the homeownership gap entirely;
• Make homeownership and rental housing a success for families at risk of losing their homes;
• Expand the supply of affordable housing where it is needed most, which includes initiatives for workforce housing and supportive housing for the chronically homeless; and
• Transform targeted communities, including urban, rural and Native American, by channeling all the company’s tools and resources and aligning efforts with partners in these areas.

Fannie Mae is a great institution that helps Americans with home financing. Check out their site www.faniemae.com for more information.
(Information taken from fanniemae.com)

Benifit from foreclosures, buy now!

Looking to buy a home? This is a great time to buy a new home. With all the talk of the economy falling and the financial industry in a mix, it is creating a media storm that is pushing many buyers out there, back to the other side of the fence, and helping them to make the decision not to buy.Less buyers equal lower home prices, which translates to a better deal for you. Combine that along with a record number of foreclosed homes on the market, it is turning into a buyers market. Foreclosed homes can be a great purchase. In most cases the bank that owns the house wants to get rid of it as soon as possible. They are willing to take less money or accept terms on the purchase that they normally would not allow. If you are currently on the hunt for a new home or an investment property, now might just be the best time to grab up that new rental or your home of the future. Follow the tips below to find the right home for you.

• Start your search online- The Internet is a great source that you can use ti find hundreds of homes from the comfort of your own home. (see right side bar for links to sites to start your search)
• Use a Realtor- Realtors are have the knowledge and know how, when it comes to finding and making offers on homes.
• Don't settle- Make sure you find the right home that fits you and your needs. Just settling on the first deal that you come across can lead you to miss your dream home or a better investment property.
• Research the neighborhood and area info- The home might be nice but are the schools, neighbors and community.
• Make the offer that you are comfortable with- Use the help of your Realtor and make sure that when you find your next home purchase you are paying what you feel comfortable with.
• Enjoy your new home- Make your new home yours.
  

Home Sales Up in February

With all the negative media focusing on the bad aspects of the financial market it is hard to hear some of the positive reports and stories that are out there.
All we hear is, the market is slow, stocks are struggling and the economy is bad. Home sales were up in February but prices of those home are down, but that is ok. The market is correcting itself. The good news is that people are still buying, selling and consumers are still able to get a mortgage.

Read the report here

Knowing when to buy

Tips for Homeowners

To protect your investment in your home, it’s important to perform regular maintenance. The following tips not only help you to prevent costly repairs in the future, but can also make your home more efficient, saving you money on your monthly utility bills.

1. Inspect the exterior of your home annually:
* Check the foundation for cracking.
* Check the weather stripping and caulking around doors and windows, and check for cracks and holes in the siding.
* Check the paint for peeling, cracking, fading or blistering.
* Trim shrubs and trees so they clear the foundation, exterior walls, and roof.
* Drain and shut off your outside faucets before winter.
* Clean gutters and downspouts in the fall and spring.
* Clean leaves and mulch from under porches and decks, and pull mulch away from foundation walls.

2. Check annually for water or moisture in the crawl space, as well as for water leaks in the basement or in the attic.

3. Drain a gallon or two from your hot water heater at least twice a year to extend its life expectancy.

4. Have your chimney cleaned each year before using the fireplace.

5. Check the filters on your heating/cooling unit once a month and change or clean on the recommended schedule. Have the unit serviced annually.

6. Check faucets for drips and the rest of the plumbing for leaks once a month.

7. Check your dryer vent and stove hood monthly and clean them as needed.

8. Inspect and repair tile grout in bathrooms and kitchen annually.

9. Change the batteries in your smoke alarm twice a year.

10. Make sure that you know where the main cut-off valves or switches are for the plumbing, electrical and gas systems.