Metro Atlanta, Gerogia Real Estate Market, North Georgia, REO Sales

Look for interest rates to climb beginning in late spring as the Federal Reserve stops buying mortgage backed securities, the Fed committed about 18 months ago to purchase $1.25  TRILLION in Fannie Mae and Freddie Mac securities, a move aimed at keeping liquidity flowing so rates would stay low and Fannie and Fressie would continue guying conforming loans. This commitment ends March 31, 2010...and while the full impact will not be known for several months, it is certain to cause a rise in rates.

So if you are sill sitting on the fence....it is time to get off the fence and buy your home soon. Also remember the $8,000 Tax Credit is gone this month. There is little time to get those Tax credits but only a few days.

Have a great one...Let me know how I can help you call on email anytime. until next time...

Enacted by the US Congress in July, 2008 as part of the Housing and Economic Act, the NSP seeks to reverse the decline of property values and quality of life in communities that are experiencing high rates of Foreclosed and abandoned homes. These homes negatively impact the surrounding area both by being eyesores and by acting as venues for illegal and undesirable activities.

This program is designed to assist qualified home buyers in purchasing a home that they can take pride in while making that home truly affordable and thus minimizing the risk of future foreclosures. It promotes affordability by loaning the needed amount of Down Payment assistance as determined by the primary lender. This loan bears no interest and requires no monthly payment. The loan is forgiven if the buyer remains in the house for the "period of affordability" (5-10 yrs depending on the loan).

If you would like more information on this and other programs contact me by email markkimball@mindspring.com or call my office at 678-792-7713