Mortgage lenders are in the news again, only this time it's not Freddie Mac and Fannie Mae in the hot seat. If you purchased a home through GMAC (now Ally Financial), Bank of America, JPMorgan Chase, or Citibank, you may want to take note. Last week's settlement of $25 billion is proposed to aid homeowners who may have been subject to "robo-signing," in loan and foreclosure practices. "Robo-signing" refers to the practice of mortgage providers signing or stamping documents without verifying information. If you currently have a loan or experienced a foreclosure with one of these lenders, you may be eligible to receive assistance.

The new agreement, authorized in 49 states (not Oklahoma), strengthens the review process on loan modifications and foreclosures by requiring application reviews prior to beginning the foreclosure process. Excessive fees, insurance costs, and appraisal rates also received limits, and the agreement also provided avenues for principal reduction for struggling homeowners. This agreement does not apply to any FHA, Freddie Mac or Fannie Mae loans or foreclosures.

Homeowners with a mortgage on their primary home that represent a 20 percent or more reduction on property value with a loan balance of less than $417,000 are targeted for these funds, although eligibility will be determined individually. Homeowners whose mortgage rates are above 5.25 percent may be able to refinance to lower interest rates, and homeowners experiencing unemployment or considering short sales may receive aid, as well.

Contact your lender directly to see if you are eligible or watch for a notification letter from your lender within the next six months. Incentives were provided to lenders who completed settlements within 12 months, and funds must be dispersed within three years. Click here to see actual details of the agreement.

While the decline in new home construction may have some feeling "blue," those of you who embrace a "green" lifestyle will be excited to hear about the latest projections. "Green" remodeling is a growing trend in the real estate industry! In fact, McGraw-Hill Companies, revealed last week that 17% of residential home building in 2011 was due to eco-friendly homes and upgrades. Rates on the West Coast, North Midwest, and New England have experienced even stronger growth.

This number is anticipated to continue to rise to five times that rate in the next five years with over 30% of "green" home building being forecasted for 2016. Beyond 2016, builders believe over 90% of their projects will be "green." Home buyers are seeking earth-friendly features in homes for sale, so home sellers and remodelers should take note of these statistics. Renovation work has also increased in recent years, most likely due to the shifting economy, and builders report that home remodels make up over 60% of their business, according to the recent McGraw-Hill study done in conjunction with National Association of Home Builders and Waste Management.

So, home owners and those looking for new homes with eco-friendly perks, have the "green" light! Almost half of builders (46%) have begun marketing their "green" services and are becoming well-versed in determining the best needs and options for their clients. As builders become more familiar with the processes involved with earth-friendly materials, consumer cost has decreased as well, making it a great time to upgrade your home for sale. Benefits of making these eco-friendly measures can be reduced energy costs, reduced waste, better quality of life, and peace of conscience.

To get more information on the results of the Green Home Builders and Remodelers Study, click here.

When you meet someone for the first time – what do you notice?   If you’re like many of us, that initial impression is largely determined by outside appearance. Believe it or not, that concept rings true with your home, too! That’s right, your home can foreshadow clues regarding your personality and sense of style, and its landscaping tells a story as well. Is your landscape sending the message you WANT to convey? If your home is for sale, the following tips can help to make sure you are not missing the mark!

Is your home sending the correct messaage?

If not, it may be time to consider hiring a gardener or getting help from family and friends to make some needed changes as soon as possible. The right gardener can transform the most jungle-like backyard into a beautifully manicured area of peace and tranquility, in as little as a day! With all the other tasks associated with selling your home, landscaping is a great project to outsource.

Before hiring a gardener, ask friends or neighbors for referrals. Once you have a few recommendations, ask questions and raise any concerns you may have with the gardeners/landscapers you decide to interview. Some key points to discuss are how often you would like service and what you need included at each visit. Services range from simple mowing to complete care, with reseeding, watering and fertilizing options. Don’t be afraid to ask your new gardener for help with ideas and improvements that could increase your property value and alert your gardener as to the property status, since there may be times when extra special service is needed (such as before an open house). You might even request that any extra cut blooms be left for you to use inside your home.
Keep in mind that a specialty garden is not the same as basic maintenance. If you have special circumstances, you may want to consider sharing written along with any verbal instructions with your chosen landscaper. Of course maintenance and seasonal costs, liability insurance and worker’s compensation coverage are all topics you will want to discuss before entering into any agreement.

Once you have begun your service, inspect the initial work and take time to notice the changes occurring in your landscaping. As you offer feedback to your gardener and become a part of the process, you will see your home evolve into a well-kept, beautifully groomed masterpiece. Your home will create the best impression possible and deliver the message you want to share with potential home buyers.

Home ownership can be a heavy responsibility at times... especially when times are tough.  It can be challenging to find help when times are difficult due to a  decrease or loss of income, illness, unexpected disaster or home repairs, or personal crisis such as separation or divorce.  Add to that a reduction in home values, and the problem can seem insurmountable. While savings can help to alleviate some of the impact of these life events, it is still helpful to be aware of  potential programs and alternatives offered to distressed homeowners, too.  In fact in last month's State of the Union address, President Obama made reference to this struggle in home ownership, saying, "And while Government can't fix the problem on its own, responsible homeowners shouldn't have to sit and wait for the housing market to hit bottom to get some relief."

If you find yourself in a no-win situation regarding your mortgage, it can be helpful to speak with your lender and ask about modifications that can be made in the short term.  You can ask about the short sale process,  too, and see if that may be a viable option for you.  A short sale is when your lender agrees to accept a lower price than is owed on your property as payment in full.  There is a lot of paperwork that accompanies this type of sale and it is helpful to use a real estate agent that has short sale experience with this type of transaction.  In fact, some real estate agents and home buyers specialize in just this type of sale and can be a great help to you!

If you want to stay in your home, rather than sell, programs such as the Home Affordable Refinance Program (HARP), Home Affordable Modification Program (HAMP) , or the Home Affordable Foreclosure Alternative (HAFA)  offered by Freddie Mac may all be options.  Fannie Mae and your individual lender may have other programs that can assist you as well.  Please click here to view a variety of tools on how to avoid foreclosure.  Remember that you have options, if you are willing, able, and have the time necessary to explore them.  Don't give up!

Out and About in Litchfield Park - Things To Do This Weekend 2/3/12

Welcome to the West Valley Home Team's Blog "Out and About in Litchfield Park," featuring things to do in Phoenix's West Valley, including Litchfield Park, Goodyear, Avondale and the surrounding areas.  If you have an event that you would like to add contact us at cinda@wvhometeam.com.  We'd be glad to add it.  Don't miss this week's fun events like Farmers markets, hiking and an outdoor concert featuring local favorite, country music singer Mary Hoffman.

Friday February 3rd

Mary Hoffman Performs at Red Allen's at Wigwam in Litchfield Park.  A Valley favorite who has been gracing us with her beautiful voice and country music for over 10 years.  She will be performing from 5pm to 8pm.  For more information visit her website at www.maryhoffman.net.

Family Half Moon Hike at White Tank Park.  Enjoy the Waterfall Trail by moonlight.  This two mile hike starts at 7pm.  No dogs allowed, meet at Area 6.  There is a $6 per vehicle park entry fee.  For more information visit the Maricopa County Parks website. 

Saturday February 4th

Avondale Farmer's Market.  Shop for fresh, locally grown foods and hand-crafted goods at Friendship Park in Avondale every Saturday.  The market runs from 8am to 12pm.  For more information visit www.arizonafarmersmarkets.com.

Medieval Times at the Avondale Public Library.  For ages 6 thru 12, kids can come learn about the lifestyle and arts of the medieval times.  For more information visit the City of Avondale website. 

Sunday February 5th

Wigwam Farmer's Market at Wigwam in Litchfield Park.  Want fresh produce but don't have time for a garden?  Check out the Wigwam Farmer's Market every Sunday.  Shop for fresh produce from local farmers as well as work from local artisans and all kinds of yummy foods on the beautiful front lawn of the Wigwam.  1st Sundays of the month include an Educated Eater Experience.  Market runs from 8:30am to 12:30 pm.  For more information visit www.wigwamresort.com.

Upcoming Events:

Wigwam Festival of Fine Arts Feb 10-12 at Wigwam in Litchfield Park.  Enjoy three days of outdoor dining, world-class art and exciting entertainment on the Front Lawn of the Wigwam.  The event runs from 10am to 5pm each day and admission and parking is free.  For more information call 623-734-6526.

Healthy Litchfield Park II:  Healthy Game Day on Feb 18th.  The next event in the City of Litchfield Park's Healthy Litchfield Park series includes a health fair, music and dancing, inflatable bouncies, healthy foods and more.  If you are interested in being a vendor at this event contact Mary Liotta at 623-935-9040.  The event will be held at the Aleppo Park at 940 W Village Parkway.  For more information visit the City of Litchfield Park website.

Arts in the Park Concert at Wigwam in Litchfield Park Feb 19th.  Mary Hoffman will be performing on the Front Lawn of the Wigwam from 3pm to 5pm.  Bring your lawn chairs and enjoy the sounds of live country music.  Mary Hoffman has been playing music around Arizona for 10 years and is a Valley favorite. 

Enjoy Your Weekend!

Buckeye Days Celebrates Arizona's Centennial This Weekend

Buckeyes Days is back with three days of Old West fun!  Here's a schedule of events:

Friday Night

6th Street Plaza 6pm to 10pm:  Live Country Music, Chuck Wagon BBQ Dinner, Arizona Hold'em Poker Tournament, Carriage Rides Trivia Challenge.

Saturday

Historic Downtown Buckeye 10am: Old West Cattle Drive and Parade.  Cowboys will be driving 50 head of cattle through downtown Buckeye as part of the parade!  The parade will also have cowboys, horses, cars, tractors and more.

6th Street Plaza 11am to 2pm:  Live Country Music, Old West Gun Fight, Lil'Miss and Mister Buckeye, Pony Rides, Games, Kid Zone, Old Fashioned Photos.

South Buckeye Equestrian Center 2pm:  Buckeye Senior Pro Rodeo.  After dinner enjoy a steak dinner and a Charity Scholarship Auction.

Sunday

South Buckeye Equestrian Center 2pm:  Buckeye Senior Pro Rodeo and Outlaw Chili Cook-Off.

For more information visit the Buckeye Valley Chamber of Commerce.

Enjoy Your Weekend!

Out and About in Litchfield Park - Things To Do This Weekend 1/27/12

Welcome to the West Valley Home Team's Blog "Out and About in Litchfield Park," featuring things to do in Phoenix's West Valley, including Litchfield Park, Goodyear, Avondale and the surrounding areas.  If you have an event that you would like to add contact us at cinda@wvhometeam.com.  We'd be glad to add it.  Don't miss this week's fun events like Farmers markets, hikes and a classic car show.

Friday, January 27th

Celestial Petroglyph Hike at White Tank Park.  Reservation required for this hike into a restricted area of the park where some very unusual petroglyphs can be viewed.  Call 623-935-2505 to make your reservation.  Hike can be too strenuous for small children and those with physical limitations due to some rock climbing and sand.  No dogs allowed.  Meet at Area 7 at 10am for this 2.5 hour hike.  For more information visit www.maricopa.gov/parks.  There is a $6 per vehicle park entry fee.

Saturday, January 28th

E-Waste & Shred Event at Estrella Mountain Community College Campus.  Recycle your electronic waste from 8am to 1pm this Saturday.  Bring items such as computers, batteries, printer cartridges, mobile phones and more.  For a complete list of items visit www.avondale.org or call 623-935-8319.

Avondale Farmers Market.  Held at Friendship Park each Saturday.  Shop for fresh, locally-grown food along with products and hand-crafted goods.  For more information visit www.arizonafarmersmarkets.com.

Peoria Farmers Market at Park West.  According to their website this farmers market draws around 1,500 attendees and up to 75 vendors making it the largest and most diverse farmers market in the West Valley.  They even have a petting zoo...For more information visit the Park West website.  Park West is located at the 101 and Northern Ave.

Kids Photo Hike at White Tank Park.  Kids need to bring a camera for this fun discovery-type scavenger hunt where they collect photos instead of items.  Call ahead for reservations as space is limited to 15 children (must be accompanied by an adult).  The .3 mile flat, easy hike will be along the Mule Deer Trail, meet at the Nature Center at 10am.  Call 623-935-2505 to make your reservation.  For more information visit the Maricopa Parks & Recreation website.  There is a $6 per vehicle park entry fee.

Westgate Hot Rods & Classic Car Show in Glendale.  Bring your car or just come to check out some cool cars!  All cars are welcome to this family friendly event featuring hundreds of hot rods and classics at Westgate's Cruz-In.  From 8am to 1pm.  For more information visit the Westgate website.

Wine Tasting at Ground Control in Goodyear.  Costs $15 and runs from 7pm to 10pm.  For more info visit Ground Control's website.

Sunday, January 29th

Wigwam Farmers Market in Litchfield Park.  Enjoy breakfast and shopping!  Shop for locally produced food on the Front Lawn of the Wigwam.  8:30am to 12:30pm.  For more information visit www.wigwamresort.com.

Petz Place Farmers Market in Goodyear.  Located in the Estrella Crossings parking lot at 3690 S Estrella Parkway.  Tonopah Rob and others offer all-natural fresh local veggies and other goodies from 8 am to 1pm.  for more information visit www.tonopahrob.com.

Bird Walk with Sonoran Audubon at Estrella Mountain Regional Park.  Join the Sonoran Audubon for 2 hours of watching the fantastic bird life at Estrella Park.  Over 150 different species can be found.  Bring your own binoculars and books if you can as supplies are limited.  Meet at east side of turf in dirt parking lot at 8am. For more information visit the Estrella Mountain Regional Park website. There is a $6 per vehicle park entry fee.

Upcoming Events

Adults Only Half Moon Hike at White Tank Park February 2nd.

Family Half Moon Hike at White Tank Park February 3rd.

Valentine Luminary Walk at White Tank Park February 10th.

Arts in the Park Concert February 19th.

Litchfield Park Friends of the Rec 10K, 5K, 1 Mile Fun Run/Walk & Family Classroom Challenge March 3.

Enjoy Your Weekend!

Goodyear's 6th Annual Heart & Sole 5K Run/Walk & 1 Mile Fun Run/Walk will be held Saturday February 18th at Goodyear Ballpark starting at 8am.  The event it presented by the West Valley Hospital and you can run or walk in the 5K competition or just for fun in the 1 Mile event.  Medals and trophies will be awarded and all participants receive a t-shirt, goody bag, snacks, Mardi Gras beads and after race raffle.  All finishers receive a ribbon.

The event begins and ends at the Goodyear ballpark where there will be music, vendors and food concessions.  You can register online at http://www.active.com/running/goodyear-az/heart-and-sole-5k-run-walk-and-1-mile-fun-run-walk-2012 or at the Goodyear Recreation Office at 3075 N Litchfield Road.  Save $5 and register before February 16th.  You can also register on race day.  For more information visit the City of Goodyear Website.

Out and About in Litchfield Park - Things To Do This Weekend 1/20/12

Welcome to the West Valley Home Team's Blog "Out and About in Litchfield Park," featuring things to do in Phoenix's West Valley, including Litchfield Park, Goodyear, Avondale and the surrounding areas.  If you have an event that you would like to add contact us at cinda@wvhometeam.com.  We'd be glad to add it.  Don't miss this week's fun events like Arts in the Park Concert in Litchfield Park and stargazing at White Tank Mountain Regional Park.

Saturday, January 21st

Litchfield Park Town Hall Meeting.  Litchfield Park residents are invited to attend a Town Hall meeting from 9am to 11am at the Church of Litchfield Park.  For more information visit the City of Litchfield Park website.

Avondale Farmers Market.  8am to noon at Friendship Park in Avondale.  The market features produce, fresh locally grown foods, beef, pork, bread, roasted chilies, cheese, pasta and pastries.  For more information visit the City of Avondale website.

Stargazing at White Tank Mountain Regional Park.  Watch a slide presentation and then view the night sky through a telescope with Dr. Tony LaConte.  Meet at Area 4 about 7:15pm, program starts at 7:30pm.  Bring a lawn chair.  Program runs until 9:30pm.  For more information visit www.maricopa.gov/parks.  There is a $6 per vehicle park entry fee.

Saturday, January 21st

Wigwam Farmers Market.  Shop for local produce and food from 8:30 am to 12:30pm on the front lawn of the Wigwam.  for more information visit www.wigwamarizona.com.

Arts in the Park Concert at Wigwam in Litchfield Park.  From 3 to 5pm local country band Rondavous will perform on the front lawn of the Wigwam.  Rondavous is one of the top country bands in the area so don't miss out on this FREE event!  Bring your blankets and lawn chairs.  For more information visit the City of Litchfield Park website.

Upcoming Events:

Bird Walk with Sonoran Audubon at Estrella Mountain Regional Park January 29th.  This hike will be every fourth Sunday ending in April.

Heart & Sole Run/Walk February 18th.  At Goodyear Ballpark.

Arts in the Park Concert at Wigwam in Litchfield Park February 19th.  Featuring Mary Hoffman.

Arts in the Park Concert at Wigwam March 18th.  Featuring Night Groove.

Arts in the Park Concert at Wigwam April 20th.  Featuring Thaddeus Rose Band.

Enjoy Your Weekend!!

Fannie Mae revealed its new Unemployment Forbearance Program which allows mortgage servicers to assist borrowers who have a financial hardship due to unemployment.  Mortgage servicers are required to implement this new program by March 1 for all Fannie Mae-owned and backed loans.

Mortgage servicers can now provide up to six months of relief for eligible unemployed borrowers and do not have to get Fannie Mae's approval to do so.  In addition, borrowers can also apply for an additional six months of forbearance for a total of twelve months of assistance.

Freddie Mac also has a similar program that goes into effect February 1st.  Freddie Mac is allowing servicers to provide 6 months of forbearance without prior Freddie Mac approval and an additional 6 months with prior approval.

Homeowners must contact their mortgage servicer to request the forbearance and to see if they qualify.

Not sure if your loan is backed by Fannie Mae or Freddie Mac?  Use the Fannie Mae Loan Lookup or the Freddie Mac Loan Lookup tools.