ANNOUNCEMENTS:
MICHIGAN: PLEASE READ IMPORTANT DETAILS REGARDING THE MARKETING AND MANAGEMENT TRANSITION BELOW.
PROPERTY PRESERVATION REQUESTS IN MICHIGAN:
Effective March 28, 2008, Michaelson, Connor & Boul is responsible for all property preservation requests for new acquisitions in Michigan. Effective Monday, March 31, 2008, Michaelson, Connor & Boul will be responsible for preservation of all existing HUD inventory in Michigan that is not under contract. Chapman Law Firm will continue to address Michigan property preservation issues for contracts it has executed until May 14, 2008, after which they will be addressed by Michaelson, Connor and Boul.
Michaelson, Connor & Boul can be contacted at 1(888)622-7361.
ATTENTION ALL BROKERS AND MORTGAGE SERVICERS IN MICHIGAN:
Effective March 28, 2008, Michaelson, Connor & Boul will assume the Management & Marketing responsibilities for new acquisitions and mortgagee requests. On Monday, March 31, 2008 MCB will assume responsibility for existing inventory for the Department of Housing and Urban Development (HUD) in the State of Michigan. Sales contracts received and executed by Chapman Law Firm on or before March 28, 2008 will continue to be closed by Chapman Law Firm, contracts received after March 28, 2008 will be forwarded to Michaelson, Connor & Boul for review and processing. For Michaelson, Connor & Boul’s contact information, please visit their web site at www.mcbreo.com, or HUD’s web site www.hud.gov or by calling HUD’s Resource Center at 1-800-CALLFHA.
Mortgagees: Effective March 28, 2008, pre-conveyance requests for Michigan should be directed to Michaelson, Connor & Boul at:
Michaelson, Connor and Boul
Attn: Pre-Conveyance
5312 Bolsa Avenue, Suite 200
Huntington Beach, CA. 92649
(888) 622-7361
(714) 230-3868 fax
Chapman Law Firm will continue to oversee through closing all sales contracts that have been executed by us.
PLEASE NOTE THAT ALL BIDS PLACED FRIDAY, MARCH 28, 2008 WILL NOT BE REVIEWED AND MUST BE RESUBMITTED TO MICHAELSON, CONNOR & BOUL IF YOU WISH FOR THEM TO BE CONSIDERED. PROPERTIES WITH AN ACCEPTED BID NOT UNDER CONTRACT BY MARCH 28, 2008 WILL BE TRANSFERRED TO MICHAELSON, CONNOR & BOUL.
OHIO: PLEASE READ IMPORTANT DETAILS REGARDING THE MARKETING AND MANAGEMENT TRANSITION BELOW.
The Chapman Law Firm Co., LPA is in transition with the Department of Housing & Urban Development (HUD) for the State of Ohio effective March 8, 2008.
PROPERTY PRESERVATION REQUESTS IN OHIO:
Effective March 8, 2008, National Home Management Solutions is responsible for all property preservation requests concerning acquisitions in Ohio. Chapman Law Firm will continue to handle property preservation for existing Ohio inventory through March 31, 2008. After March 31, 2008 all property preservation requests for properties not under contract should be directed to National Home Management Solutions. Chapman Law Firm will continue to address Ohio property preservation issues for contracts it executed until May 14, 2008, after which they will be addressed by National Home Management Solutions.
National Home Management Solutions can be contacted at 1(609) 981-5500 or toll free at 1(800) 211-0621
ATTENTION ALL BROKERS AND MORTGAGE SERVICERS IN OHIO:
Effective March 8, 2007, National Home Management Solutions will assume the Management & Marketing responsibilities for new acquisitions and mortgagee requests for the Department of Housing and Urban Development (HUD) in the State of Ohio. Chapman Law Firm will continue marketing HUD homes and accepting bids in Ohio until 11:59 p.m. on March 27, 2008. Sales contracts received and executed by Chapman Law Firm on or before March 28, 2008 will continue to be closed by Chapman Law Firm, contracts received after March 28, 2008 will be forwarded to National Home Management Solutions for review and processing. For National Home Management Solutions contact information, please visit their web site at www.nhmsi.com, or HUD’s web site www.hud.gov or by calling HUD’s Resource Center at 1-800-CALLFHA.
Mortgagees: Effective March 8, 2008, pre-conveyance requests for OHIO only should be directed to National Home Management Solutions as follows:
Tish Bornscheur
National Home Management Solutions
Three Advantage Ct.
Bordentown, NJ 08505
Phone: 1(609) 981-5500
Toll Free: 1(800) 211-0621
Fax: 1(609) 981-5517
Please continue to visit our web site for news and updates on this transition.
After May 14, 2008 the management and marketing of HUD properties in Ohio will be conducted by National Home Management Solutions. Chapman Law Firm will continue to oversee through closing all sales contracts that have been executed by us.
PLEASE NOTE THAT ALL OHIO PROPERTIES WITH AN ACCEPTED BID NOT UNDER CONTRACT BY MARCH 28, 2008 WILL BE TRANSFERRED TO NATIONAL HOME MANAGEMENT SOLUTIONS. IF WE DO NOT RECEIVE YOUR CONTRACT PACKAGE OR ANY NEEDED CORRECTIONS BY CLOSE OF BUSINESS ON FRIDAY, MARCH 28, 2008, YOUR BID ACCEPTANCE MAY BE CANCELLED.
NEW HOMEBUYER AND BROKER INCENTIVES ANNOUNCED!
$2,500 Owner Occupant Sales Incentive Allowance / $500 Broker Bonus for Sales to Owner Occupants
Take Advantage of BIG Incentives when you Purchase HUD Homes
***Please note that, effective February 11, 2008, there is a change to the Broker Bonus portion only of this incentive. This broker bonus will begin Monday, February 11, 2008 and expire at 11:50 PM September 30, 2008. Please see below for details.
***Effective February 21, 2008, there is a change to the sales incentives allowance which is now $2,500 for all owner-occupant purchasers (excluding HUD approved non-profit organizations and units of local government) in Michigan and Ohio regardless of financing type. Please see below for details.
- Huge Sales Allowances! All owner occupant purchasers (excluding HUD approved non-profit organizations and units of local government) will receive $2,500 at closing to use on repairs, closing costs, or to lower their mortgage amount without regard to the type of financing used by the purchaser.
- $500 Broker Bonus! Real Estate Brokers get $500 for every HUD Home purchased by an owner occupant regardless of financing type. PLEASE NOTE: This change is effective for bids placed on or after February 11, 2008. Bids placed before February 11, 2008 will still receive the $500 broker bonus if the buyer using FHA financing and $250 if not using FHA financing.
- $100 down payment financing is available on most properties through FHA approved lenders.
- Available State-wide in Michigan and Ohio.
***THESE INCENTIVES APPLY TO SALES TO OWNER-OCCUPANTS ONLY.
***PLEASE DO NOT ADD THE BROKER BONUS OR SALES ALLOWANCE TO YOUR BID SUBMISSION.
THESE WILL BE AUTOMATICALLY ADDED AT CLOSING. ADDING EITHER OF THESE TO YOUR BID MAY ADVERSELY AFFECT YOUR CHANCE OF BID ACCEPTANCE.
Click here for a list of Active 203k Lenders in Michigan .
Click here for a list of Active 203k Lenders in Ohio.
Benefits of FHA Financing!
- Flexible underwriting!
- No minimum credit scores.
- Competitive, often lower, interest rates.
- Government insured.
Click here for Lender Instructions.
Click here for answers to Frequently Asked Questions about FHA Loans.
To obtain more information or to find an FHA Lender you can also call 1-800-CALLFHA.
Landscaping Contractors Needed in Ohio and Michigan:
The Chapman Law Firm is currently seeking individuals who are interested in performing bi-monthly Landscaping services on HUD homes in Ohio and Michigan.
Interested applicants should email csampson@clfres.com a letter of interest including what 5 digit zip codes and in what county they want to perform bi-monthly landscaping services. Please include a copy of your workers compensation certificate and proof of insurance.
Below you will find our Bi-monthly Landscaping Specifications. Those interested should apply no later than March 15, 2008.
Click here for specifications for bi-monthly landscaping.
Your HUD Home can be Your Dream Home:
If you are thinking about buying a REO property that needs repair, FHA’s 203(K) rehabilitation loan or its simplified alternative, the Streamlined(k) may be a good option for you. FHA’s simplified Streamlined(k) program for small-scale repairs is the perfect option for most HUD REO sales. For the major repairs and more complicated renovation plans, the Standard 203(K) program is the option. Most HUD Homes, like the majority of property re-sales, require some level of repair. FHA’s Streamlined (k) program allows the buyer to finance both the purchase and the cost of minor repairs and/or upgrades through a single mortgage. While there is no cap on repairs for the Standard 203(K), the Streamlined (k) allows for repairs from $1 up to $35,000. For the Streamlined(k) option, homebuyers identify their repair needs, which may include: new carpet; interior and exterior paint; new appliances; kitchen or bathroom remodel; exterior landscaping and other minor improvements.
A Realtor® or FHA approved lender will be able to answer specific questions about the Standard and Streamlined 203(K) loan program. To find out more, click to visit HUD’s website or call 1-800-CALLFHA.
Cheviot Out to Buck Foreclosure Trend: Little Used Program Offers Homes to Cities for $1:
CHEVIOT, OHIO : You can't miss the $1 bungalow this West Side city is rehabbing. It's the only house on Davis Avenue with a Cheviot snowplow in the driveway. More important, the 86-year-old fram house belongs to a public-private partnership designed to save empty houses on the low end of the foreclosure food chain.
Click this link to read the entire article: Cheviot Out to Buck Foreclosure Trend
Residential Recycling: Taylor Program will Put Foreclosed HUD Houses Back on Market:
TAYLOR, MICHIGAN: The Downriver City of Taylor, Michigan is getting into the real estate business. On Wednesday the city took possession of eleven houses previously owned by the federal government. The price tag: $1 each. In the "Taylor Cares" program, eleven houses will be rehabilitated and then sold to low to moderate income individuals or families.
Click this link to read the entire article: Taylor Program will Put Foreclosed HUD Houses Back on the Market
$1 Home Bargain Bought by City:
TALLMADGE, OHIO: In an update on the City of Tallmadge's Dollar Home purchase, the Akron Beacon Journal reported on November 4, 2007 that the sale to the City of Tallmadge will benefit the City by allowing the razing of a foreclosed property to create greenspace that will be sold to benefit the City's Historic Preservation Program.
Click this link to read the entire article: $1 Home Bargain Bought by City - Akron Beacon Journal Article
Local, State and National Leaders Address HUD Property Concerns at Michigan Forum:
SOUTHGATE, MICHIGAN: On Tuesday, August 21, 2007 officials from the U.S. Department of Housing and Urban Development travelled to Southgate, Michigan to meet with local, state and national leaders to discuss the steps that HUD is taking to address concerns regarding foreclosed properties. Frank Chapman, President of Chapman Law Firm, attended the forum to discuss how Chapman Law Firm can work with government at all levels to help improve our communities.
Click this link to read the entire article: HUD Meets with Area Leaders Over Problems - The News-Herald Article
Dollar Homes can Help Local Governments Improve the Community:
TALLMADGE, OHIO: The Tallmadge City Council approved an ordinance September 27, 2007 allowing the city to participate in the Dollar Home Program. The program was started to help cities create housing for families in need and to benefit neighborhoods. These properties become eligible for sale only to local governments whenever the Department of Housing and Urban Development is unable to sell them in six months or more. Chapman Law Firm is working with the City of Tallmadge to complete the sale.
Click this link to read the entire article: Apparently, $1 Can Still Go a Long Way
For more information on the Dollar Home Program, please contact Annette Ruffin at (216) 485-0712 or by email by clicking here.
FHA Financing Fact:
Did you know that FHA (Federal Housing Administration) financing offers many advantages for the home buyer? Just one of the many advantages is a lower down payment of zero to three percent. Ask your Realtor if FHA financing will work for you! More information is available under our Financing section and by clicking here to see information from the U.S. Department of Housing and Urban Development.