Atlanta Property Management

Bryan Stanton

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$8000 Tax Credit coming to an end.

Homebuyer CreditThe first time home-buyer tax credit dead-line is coming to an end on April 30, 2010. The Worker, Homeowner and Business Act of 2009 extended the dead-line from November 30, 2009 to April 30, 2010.

The tax credit is a value of $8000 if you have not owned a primary residence within the past 3 years. So even if you owned a home back in the early to mid 2000's when the Atlanta real estate market was thriving you can still qualify for the homebuyer credit. The IRS has posted income restrictions as well. Single filers adjusted gross up to $125,000 and Joint filers up to $225,000 will qualify for the tax-credit.

What happens if you enter into a contract on April 30, 2010? Do you still receive the credit? The answer is yes - so long as you close on your new home by June 30, 2010. Members of military will have one extra year to claim the credit (April 30, 2011)

So if you've been looking for a new home and have yet to "pull the trigger" on your decision making process. Now is the time. Atlanta real estate prices have never been so low and now a tax credit is the proverbial "icing on the cake".

Will the tax credit be extended again? Of course this is possible but, we've spoken with many of the Atlanta lending institutions and mortgage companies and the consensus seems to be that there will not be another extension. So again, if buying a home is in your plans, hurry. Time is running out.

More information from IRS First time Homebuyer Tax Credit

Buy Atlanta Investment Properties

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Whether you are a seasoned investor, owner occupant or just looking at different possibilites in the Atlanta real estate market. Here are some fantastic opportunities that you can not afford to miss. Every now and then WEGO Property Management comes across amazing deals that are usually too hard to find. We only post the best deals and a typical savings is 25% off of today's market value and sometimes more. To inquire about any of our investment opportunities send email to assets@wegomanagement.com 

Follow this link to search for all atlanta investment properties and bank owned homes in Atlanta and greater Atlanta area.

Click here to Learn how to Generate Positive Cash Flow for investment properties and rental properties.

 

This Atlanta investment property would make for a great investment . It's located in the Kings Mountain subdivision in Conyers, Ga. Features of this home include an updated kitchen, huge master bedroom with private bath, fireplace and hardwood floors throughout. Full finished basement and tons of square footage make this a gem of an Atlanta investment property. - SOLD

PROPERTY DETAILS PURCHASE DETAILS Financing DETAILS
Year Built: 2003 (Market): $150,000 Refi Loan % of Sale Price: 75%
Approx. Sq Ft: 1710 Sales Price (-$37,500k of mkt): $112,500 Loan Amount: $112,500
# Beds: 3 Down Payment: $5,000 Term: 30 Years
# Baths: 2 1/2 Equity (25% of ARV): $37,500 Interest Rate: 6.5%
Style: 2 Story Closing (Seller Pays) $ Mort Pymnt (P&I): $711.08
Parking: Garage Total Cash Investment: $5,000 Mort Pymnt (w/ Tax & Ins): $919.41
Basement: Full Finished    EST. CASH FLOW
     Market Rent: $1500
    Gross Monthly Cash Flow: $130.59
    Property Mgmt Fee: $105
    Net Cash Flow: $25.59 per month
     
   

 

This Atlanta investment property would make for an excellent owner occupied home. It's located in Heron Bay Country club. Call for a full list of details.

PROPERTY DETAILS PURCHASE DETAILS Financing DETAILS
Year Built: 2005 (Market): $250,000 Loan % of Sale Price: 97%
Approx. Sq Ft: 3100 Sales Price (-$45k of mkt): $205,000 Loan Amount: $198,850
# Beds: 5 Down Payment (3% of mkt): $6,150 Term: 30 Years
# Baths: 3 1/2 Equity (25% of ARV): $45,000 Interest Rate: 4.875%
Style: 2 Story Closing (Seller Pays) $ Mort Pymnt (P&I): $1084.88
Parking: Garage Total Cash Investment: $6,150 Mort Pymnt (w/ Tax & Ins): $1424.63
Basement:    EST. CASH FLOW
     Market Rent: $1500
    Gross Monthly Cash Flow: $75.37
     
     
     
     

 

Jonesboro, Ga 30236 4 Bedroom 2 Bath - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 1966 (ARV): $108,000 Refi Loan % of ARV: 75%
Approx. Sq Ft: 1250 Sales Price (75% of ARV): $86,400 Refi Loan Amount: $81,000
# Beds: 4 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 2.0 Equity (25% of ARV): $21,600 Interest Rate: 6.5%
Style: Ranch Refi Closing (Seller Pays) $4,047.8 Mort Pymnt (P&I): $511.98
Parking: Street Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $641.98
Basement:    EST. CASH FLOW
     Market Rent: $850
    Gross Monthly Cash Flow: $208.02
    Prop Mgmt Fee: $80
    Net Monthly Cash Flow: $128.02 /mo
   
   

 

 

Investment Property

Hampton, Ga 30228 3 Bed 2.5 Bath - Investment Property - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 2004 (ARV): $140,000 Refi Loan % of ARV: 75%
Approx. Sq Ft: Sales Price (75% of ARV): $105,000 Refi Loan Amount: $105,000
# Beds: 3 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 2.5 Equity (25% of ARV): $35,000 Interest Rate: 6.5%
Style: Two Story Refi Closing (Seller Pays) $5,520 Mort Pymnt (P&I): $663.67
Parking: Garage 2-car Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $830.34
Basement:    EST. CASH FLOW
     Market Rent: $950
    Gross Monthly Cash Flow: $119.66
    Prop Mgmt Fee: $80
    Net Monthly Cash Flow: $43.66 /mo
   
   

Investment Property

 Stockbridge, Ga 3 bed 2.5 bath. Investment Opportunity - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 2002 (ARV): $ in process Refi Loan % of ARV: 75%
Approx. Sq Ft: 1647 Sales Price (75% of ARV): $ Refi Loan Amount: $101,250
# Beds: 3 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 2.5 Equity (25% of ARV): $33,750 Interest Rate: 6.5%
Style: Two Story Refi Closing (Seller Pays) $5,731.5 Mort Pymnt (P&I): $639.97
Parking: Garage 2-car Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $831.64
Basement:    EST. CASH FLOW
     Market Rent: $1000
    Gross Monthly Cash Flow: $168.36
    Prop Mgmt Fee: $80
    Net Monthly Cash Flow: $ /mo
   
   

 

 

 Covington, Ga 5 Bed 3 Bath - Investment Opportunity - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 2006 (ARV): $305,000 Refi Loan % of ARV: 75%
Approx. Sq Ft: 3236 Sales Price (75% of ARV): $228,750 Refi Loan Amount: $228,750
# Beds: 5 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 3.0 Equity (25% of ARV): $76,250 Interest Rate: 6.5%
Style: Two Story Refi Closing (Seller Pays) $8,302.5 Mort Pymnt (P&I): $1,445.86
Parking: Garage 2-car Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $1,762.52
Basement: Half    EST. CASH FLOW
     Market Rent: $2000
    Gross Monthly Cash Flow: $237.48
    Prop Mgmt Fee: $160
    Net Monthly Cash Flow: $77.48/mo
   
   

Wyndmont_investment property

Covington, Ga 4 Bed 2.5 Bath - Real Estate Investment Opportunity - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 2008 (ARV): $215,000 Refi Loan % of ARV: 75%
Approx. Sq Ft: 3966 Sales Price (75% of ARV): $161,250 Refi Loan Amount: $161,250
# Beds: 4 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 2.5 Equity (25% of ARV): $53,750 Interest Rate: 6.5%
Style: Two Story Refi Closing (Seller Pays) $6863.5 Mort Pymnt (P&I): $1,019.21
Parking: Garage 2-car Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $1,260.88
Basement:    EST. CASH FLOW
     Market Rent: $1400
    Gross Monthly Cash Flow: $139.12
    Prop Mgmt Fee: $112
    Net Monthly Cash Flow: $27.12/mo
   
   

 

 Investment Property

  Stockbridge, Ga 4 Bed 2.5 Bath - Real Estate Investment Opportunity - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 2007 (ARV): $150,000 Refi Loan % of ARV: 75%
Approx. Sq Ft: 2054 Sales Price (75% of ARV): $112,000 Refi Loan Amount: $112,500
# Beds: 4 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 2.5 Equity (25% of ARV): $37,500 Interest Rate: 6.5%
Style: Two Story Refi Closing (Seller Pays) $5,944 Mort Pymnt (P&I): $711.08
Parking: Garage 2-car Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $911.08
Basement:    EST. CASH FLOW
     Market Rent: $1100
    Gross Monthly Cash Flow: $188.92
    Prop Mgmt Fee: $88
    Net Monthly Cash Flow: $100.92/mo
   
   


90 Wyndmont Way

Covington, Ga 5 Bedrooms 3 Baths - SOLD

Year Built 2008

After Repair Value - $245,000 Refi Loan % or ARV: 75%
Approx Sq Ft 3152 Sale Price (75% of ARV): $183,750 Refi Loan Amount $183,750
# Beds 5 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths 3 Equity (25% of ARV): $61,250 Interest Rate: 6.5%
Style - 2 Story Refi Closing Costs (Seller Pays): $7,437.5 Estimated Taxes:
Parking - Garage 2 Car Total Cash Investment: $5000 Estimated Ins:
Basement - Half Finished   Mortgage Payment: $1,161.42
    Mtg Payment (w/tax & ins): $1,436.42
    ESTIMATED CASH FLOW
    Market Rent $1600
    Gross Mthly Cash Flow: $163.58
    Prop Mgmt Fee: $128
    Net Mthly Cash Flow: $35.58/mo
     

 

 

 


 

Stockbridge, Ga 3 bed 2 bath in great shape. Appraised value $118,000.00

YOUR COST $95,000.00 - SOLD

 

 


 

Hampton, Ga 4 bed 2.5 bath in great shape. Appraised value $195,000.00

YOUR COST $156,000.00 - SOLD

 

 

 

McDonough, Ga 3 bed 2 bath 1+ Acre in great shape. Appraised value $125,000.00 - SOLD

PROPERTY DETAILS PURCHASE DETAILS REFI DETAILS
Year Built: 1996 (ARV): $ 125,000 Refi Loan % of ARV: 75%
Approx. Sq Ft: 1712 Sales Price (75% of ARV): $93,750 Refi Loan Amount: $93,750
# Beds: 3 Down Payment (5% of ARV): $5000 Term: 30 Years
# Baths: 2.0 Equity (25% of ARV): $31,250 Interest Rate: 6.5%
Style: Ranch Refi Closing (Seller Pays) $5,141.5 Mort Pymnt (P&I): $592.56
Parking: Parking Pad Total Cash Investment: $5000 Mort Pymnt (w/ Tax & Ins): $734.23
Basement:    EST. CASH FLOW
     Market Rent: $950
    Gross Monthly Cash Flow: $215.77
    Prop Mgmt Fee: $80
    Net Monthly Cash Flow: $139.77/mo
   
   

 


 

 

McDonough, Ga. Eagle's Landing Country Club 4 bed 2.5 bath. Appraised value $424,000.00 - SOLD

YOUR COST $355,000.00

Equity $69,000.00

 

 



 


 

 

 

 

Fed has struck again!

The Fed has struck again!  This time the government has introduced a program to purchase $750 billion in mortgage backed securities.  The idea behind this is to lower mortgage interest rates. The program was announced last week and the immediate action has been favorable.  Wall Street responded favorably and 30 year conventional fixed rate mortgages also dropped to a level below 5%.  This rate is the lowest level in over 30 years.  For homebuyers this is even more favorable news. For those of you who read my e-mails, you know that I have been stating that this current market may be the best home purchase opportuity in most of our lifetimes.  I am now taking that statement to a new and higher level.  With the combination of extraordinary home pricing and historically low interest rates the situation for homebuyers may never be better.

Over the past several months I have been able to help many homebuyers who wanted to upgrade their home.  This is called a move up buyer.  This market is extremely favorable for move up buyers right now.  Yes, your home is not worth what it was a couple of years ago, but if you are upgrading to a more expensive home, that homes value has declined even more than your current home has.  In this kind of market move up buyers can achieve the purchase of the home of their dreams and earn some serious home equity at the same time.  If this is something you are interested in, please get in touch and I can help you with an assessment as to whether this would be a good move for you.

Have An Awesome Week!

Georgia Homeowners Moving to Green Alternatives

n  www.wegoteam.com

 

Georgia Homeowners Moving to Green Alternatives

The age of corrosive building materials in construction is coming to an end. In the Georgia real estate market, there are a variety of issues worth considering. Used for millennia as a form of building insulation and piping, homes built prior to 1980 may contain asbestos. When purchasing or remodeling property, citizens are adopting green alternatives to asbestos and other hazardous materials.

Although manufacturers of asbestos knew about the dreadful affects of its product, it was used in millions of homes and buildings throughout the 20th century. Asbestos can be a problem for homeowners due to causing a variety of lung diseases, such as mesothelioma. With no mesothelioma cure, there is limited treatment and poor prognosis for patients. Developed through exposure to asbestos fibers, the number of mesothelioma survivors are unfortunately few, far and between.

The Georgia Environmental Protection Division enforces rules based on Georgia statutes. The GEPD is committed to protecting the public from exposure to asbestos-containing material. Asbestos materials can be legally performed by homeowners, regular contractors, or licensed asbestos abatement contractors. Asbestos removal is an extremely delicate and hazardous operation, so removal in homes, buildings and public workplaces must be performed by an abatement contractor.

Once you are asbestos free, green alternatives should be seriously considered. The United States Green Building Council (USGBC), in a study conducted in 2003, estimated a savings of $50-$65 per square foot for well-constructed green buildings in the U.S. (see table below) during that year. Green options such as Cellulose, Cotton Fiber and Lcynene allow for a clean, healthy home, free of health damaging materials.

 

HVAC Preventative Maintenance

HVAC Preventive Maintenance 101

 

Subject of the day is heating & air conditioning, specifically, preventing those uncomfortable periods of time between your frantic phone call & waiting on your contractor of choice to show up to fix your air conditioning system this summer.

Many times, that phone call can be prevented.

“Murphy’s Law” number one; “if anything can go wrong, it will.” We should add an addendum to that saying “it will go wrong on the hottest, most humid day of the year.” Let’s use last summer as a prime example. Our air conditioners are expected to work, on a worst case 95 degree day. Here’s an example of a NOAA blog last summer: 

“The heat wave in Atlanta continues. Today’s high temperature of 103 degrees recorded at 12:46 PM at Hartsfield-Jackson airport beat the previous record of 101, set back in 1980.”

To use a simple analogy, your air conditioning system needs to be maintained much like your car or truck; run it too long without proper care, catastrophic problems occur. Air conditioning can be reduced to one phrase, the transfer of heat. If your system cannot transfer heat properly, the result is less conditioned air or cooling. There are simple steps that a good mechanical contractor can take to help with heat transfer.

Dirty condenser coils need to be chemically cleaned. When an outdoor condenser coil becomes contaminated with dirt or grime, it cannot provide adequate heat transfer resulting in higher system pressures and lower efficiencies. As the dirt accumulates, the rest of the system needs to work harder to satisfy the set point indoor temperature. The compressor is the most expensive component of your air conditioning system. With dirty coils, lack of heat transfer raises the internal pressure of the compressor resulting in lower efficiencies and ultimately, premature failure. Higher operating pressures can also promote the reduction of lubrication in the compressor, much like the oil in your car. Once this happens in an air conditioning system, acid forms in the lines contaminating the system. One additional characteristic of poor lubrication of the compressor is noise, everybody hates a noisy condenser!

With your indoor coil or evaporator coil, improper care can result in not only lower efficiencies but also contaminated air. The indoor evaporator coil produces condensation when warm, humid air is blown over it. During the summer, your evaporator coil stays moist most of the time promoting growth of mold and bacteria. Cleaning and sanitizing these areas are critical for efficiencies and indoor air quality. In addition, the area that collects the condensation, or drain pan, must be sanitized with a time released chemical or tablet that eliminates the growth of these contaminates. When the drain line gets clogged, the repair bill may include drywall, carpet and furniture!

The HVAC industry has many products that address these cleaning issues. A popular product line is Nu-Calgon which manufactures Nu-Brite using an alkaline, foaming cleaner instead of the harsh acidic cleaner to clean the coils. Other products on the market include system conditioners, lubricants, flushes, insulators; the list is endless.

Studies have proven the impact of dirty coils on energy costs. The Carrier Corporation conducted a study on systems ranging from three to sixty tons. A typical five ton system with moderately dirty coils uses 8,100 KW hours per season in contrast to a clean coil using 5,500 KW hours during the same season resulting in a 32% more efficient system operating with clean coils.

In addition to system efficiencies and indoor air quality, the advantage of a proactive preventive maintenance program is system reliability. A service technician skilled in his trade can identify many potential problems and parts before they fail. There is a fine line between proactive part replacement and theft. As a homeowner, business owner or building manager, you may not know the difference between a contactor and capacitor; trust in your HVAC contractor is critical; choose one with years of experience in the industry, good reviews on-line and are listed with your city’s Better Business Bureau.

Other key areas that must be addressed during a preventive maintenance visit include clean air filters, drive belt wear & alignment, motor amps & draws, proper refrigerant charge, wiring connections, gas pressures, safety switches and air flow. These are just a few items on an inspection report you must request from your contractor.

Extend equipment life, reduce cost of ownership, lower operating costs, minimize down time and increase reliability. !

Other organizations to further develop your HVAC knowledge include: www.ashrae.org, www.comfortinstitute.org & www.energystar.gov.

Steve Lackley is the Operations Manager at Estes Heating & Air, Mechanical Division located in Atlanta, GA. You can contact Steve at slackley@estesair.com.


 

Renters Insurance: Why You Need It

Renters Insurance: Why You Need It
 
 
 
There are two big myths about renters insurance. One is that it’s too expensive and the other is that it’s not needed.
Not having renters insurance is a pretty big gamble, considering that without it you face the cost of replacing your personal belongings after an event such as fire or theft. What’s more, you could face the prospect of defending yourself in a lawsuit because of some accident for which you might be held legally responsible, whether it happened where you live or elsewhere.
In many cases, for less than a couple hundred dollars a year you can protect your valuables, like your furniture and clothes, from loss by fire, theft, wind and water damage or other covered hazards.
But many renters still don’t believe they need such insurance. A survey conducted by Cambridge Reports, Inc. for the Insurance Information Institute found that fewer than three out of every 10 renters purchase renters insurance.
Many renters mistakenly believe their landlord’s insurance will cover their own belongings. In fact, it would be extremely rare for a landlord’s policy to extend to tenants’ property.
To determine how much insurance coverage you’ll need, take a complete inventory of your personal items. An insurance agent can help with this by estimating the total value of your property.
You’ll also need to decide whether to opt for depreciated or limited replacement cost coverage.
Depreciated coverage is the cost to repair or replace your belongings minus depreciation. Let’s say you bought a quality sofa with an expected useful life of 10 years. If it’s now five years old and would cost about $1,000 to replace, you could expect to receive about $500 (less deductible) if your sofa was destroyed by fire. You would pay slightly more for limited replacement cost coverage, but you could expect to receive $1,000 for your sofa minus your deductible.
You should also keep in mind that insurance coverage for some types of personal property is limited in terms of dollars. Renters insurance also gives you personal legal liability coverage and medical payments to others who are accidentally injured while in your home, apartment or elsewhere if the injuries are caused by your actions. And, if you are forced to live elsewhere because of damage to your residence due to a covered loss, renters insurance covers additional living expenses.
Remember, you may not own the building in which you live, but you still need to have insurance to protect your property in the case of fire, theft or other hazards. Talk with your insurance agent for more information.
By Ann Sullivan, CLU
State Farm® agent

Atlanta Property Management

WEGO Property Management: Atlanta, Georgia Property Management and Investment Management

WEGO Property Management, Atlanta, GA, was founded by Heather Stanton to provide property owners a high touch alternative to the over priced and unspecialized rental property and community association management in Atlanta. We focus solely on the management of Atlanta community associations, apartment complexes and investment property with a commitment to low prices, honesty, quality and reliability.  

WEGO Property Management: From the Founder, Heather Stanton

WEGO Property Management was created from the stress and frustration of trying to find an honest and cost effective property manager for my rental buildings in Atlanta. At that point in my life I didn't have the time required to properly keep my units fully occupied with good tenants, manage the long list of daily issues that arise, and ultimately make the "rental process" work for me. 

I conducted a thorough search of the Atlanta area for a rental property manager to handle all aspects of managing my rentals. The first thing I noticed was how difficult it was to find a property management company in Atlanta; the companies I did find required annual contracts and were only interested in my business if I had a large number of properties. Looking at the quality of the content on the company websites and discussing my situation with them on the phone left me uncomfortable that they could offer the level of service I required. 

Shortly thereafter I set out to build WEGO Property Management, a solid Georgia community association, apartment complexes and investment management company focused on the small to mid-sized market. WEGO Management's main objectives remain the following:

bullet Provide the industry's best customer service & support
bullet Offer the guaranteed lowest prices
bullet Rely solely on our results to retain our clients; no long term contracts
bullet Maintain a strong connection of industry professionals to provide maintenance & repair services for our clients
bullet Serve all clients with the utmost honesty & integrity

 

We rely heavily on your feedback to make changes to our process and add new offerings to our solution; please contact us with your thoughts or concerns at any time.  On behalf of all of us at WEGO Property Management I look forward to the opportunity of partnering with you!

Sincerely,

Heather Stanton, President
 

Real Estate Investing! Keep your eyes open.

“Do not sign the title to your house away to anyone claiming they can help.”

Real Estate and Mortgage fraud are so rampant in Atlanta that issuing warnings to homeowners is just one step the state is taking to lessen fraud. I am not going to give the details of fraud cases that have prompted the warnings because I don’t like telling people how others committed fraud.

Stopping Foreclosure by Reinstating the Loan

We teach investors how they can take over mortgages of owners in foreclosure by reinstating the loan. This is done by having the owner sign a Warranty Deed (giving me or an investor legal title to the house). The mortgage is left in place for the time being in the homeowners’ name. This stops the foreclosure for the owners, brings their loan current and once a new mortgage is obtained in my or an investors name, . . . it gives the homeowner a “paid mortgage” on their credit reports. That’s a great deal for someone who is days away from losing their house.

This plan actually leaves the owners in the house and does not increase their payments nor does it require any money from them.
This usually gets a lot of curiosity interest from investors wanting to know how it’s possible. However the purpose of this article is not to lay out the blueprint for the plan. The purpose is to show how to do legitimate business while staying away from fraud.

One major concern that surfaces when doing one of these deals where the mortgage is re-instated, left in the owners’ name and title is transferred, is the possibility of the Due on Sale clause coming up. Some investors say to put the title in a Land Trust but good luck getting a mortgage with the owners’ identity concealed.

How can you do such a deal while not raising any suspicion?
DISCLOSE! DISCLOSE! DISCLOSE!

First off, I tell everyone (and I do it myself) to urge the owners to have all documents reviewed by a real estate attorney of their choice.

THEN… I contact the lender that is foreclosing and explain the entire situation to them. Tell them EVERYTHING!
I contact the Loss Mitigation department and ask to speak to a Vice President or the highest ranking person in the department. I explain to them that I would like to reinstate the mortgage and plan to have the homeowner sign a Warranty Deed as my security. Once the loan is brought current, I intend to get a new mortgage within the next 120 days (which will then pay that lender off entirely). I tell them that I am aware such action could warrant them invoking the Due on Sale clause (and they are quick to agree). I then ask them if my plan is acceptable to them and ask for their assurance that they will not exercise the Due on Sale if I proceed. To date, only one lender has told me they would call the loan if I did that.

To summarize the scenario:
The homeowners get to stay in their house, they are not required to come up with extra money to do this and the past due balance is wiped clean. They are able to start fresh with their payments. The reassuring part for the homeowner is they feel safe and secure with the deal because they know their own lender has given their blessing and in the end, there is no reason for them or the lender to suspect any fraud or wrongdoing.

The lender has no reason to question any part of the deal because they were informed up front and allowed to say yes or no. Most lenders are all for such a scenario because they go from nearly adding a house to their REO pile to being paid in full within a few months.

 

New River Way, McDonough, GA

$459,000.00

Lots of Upgraded Features! Two-story entrance foyer leads to open great room, 3 fireplaces, Hardwood floors throughout. Granite countertops in kitchen. Full finished basement w/rec room, bath, office. Must view Virtual Tour! Simply Stunning! Kitchen features custom cabinetry,center island w/vegetable sink, double oven, tile backsplash,built-in desk, butler's pantry between dining and kitchen. Master bedroom has fireplace,cozy seating area w/bay window, large walk-in closet,big enough for washer/dryer and his/her shelves. Very Distinctive!
You can't help but stop & stare at the amazing great room w/enormous custom built-in mirror above fireplace. Great architectural details,arched windows, double trey ceiling, energy saving custom tinted windows, crown molding, transom windows, plus lots more!


Air Conditioning Amenities: Street Lights Back Yard Balcony
Basement: Daylight Basement: Finished Rooms Basement: Full Basement: Bath Finished
Cathedral Ceilings Central Air Construction: Brick 4 Sided Cooling: Central
Deck Dishwasher Downstairs Bedroom Energy: Certified Good Cents
Energy: Double Pane Energy: Insulation-Ceiling Energy: Insulation-Floor Energy: Roof Vent Fans
Energy: Storm Windows Energy: Water Heater-Gas Energy: Certified Energy Wise Energy: Double Pane
Equipment Incl: Microwave Built In Equipment Incl: Range/Oven Exterior: Garden Area Exterior: Porch
Exterior: Deck/Patio Fireplace Fireplace Location: In Basement Fireplace Location: In Great/Family Room
Granite Counters Hardwood Floors Heating: Central High Ceilings
High Speed Internet In a subdivision Interior: Cable In Street Interior: Ceilings 9 Ft Plus
Interior: Ceilings-Trey Interior: Foyer-2 Story Interior: Foyer-Entrance Interior: Hardwood Floors
Interior: Vaulted Ceilings Interior: Wall-To-Wall Carpet Jet Tub Kitchen/Breakfast: Pantry
Kitchen/Breakfast: Breakfast Area Kitchen/Breakfast: Breakfast Bar Kitchen/Breakfast: Island Large Closets
Large Kitchen Laundry Location: Upstairs Laundry Room Like New
Lot Description: Level Lot Description: Private Backyard Lot Description: 1-2 Acres Microwave
Pantry Party Room Plantation Shutters Porch
Range Rooms: Family Room Rooms: Great Room Rooms: Lr Separate
Sprinkler System Tile Flooring Washer/Dryer Hookups

Heron Bay

$465,000.00

Fabulous Custom Home On 11th Fairway.$60k Below Market Value Priced 4 Quik Sale.4/2 W/Fin Bonus,Partially Fin Basemnt, Granite Counterop, Extra Wide Ornate Trimwork & Cabinetry Inside.Located In Resort Style N/Hood W/ Lake,Park,Swim,Tennis,Golf.Lockbox 7205 Elementary: Luella, Middle School: Luella, High School: Luella


# Fireplaces: 1 Amenities: Golf Course Amenities: Lake Amenities: Neighborhood Assoc.
Amenities: Park Amenities: Physical Fit Facilities Amenities: Playground Amenities: Pool
Amenities: Sidewalks Amenities: Street Lights Amenities: Tennis Courts Amenities: Underground Utilities
Amenities: Clubhouse Assoc Fee Incl: Reserve Fund Assoc Fee Incl: Facilities Fee Assoc Fee: $475
Basement: Concrete Basement: Daylight Basement: Entrance Inside Basement: Entrance Outside
Basement: Full Basement: Bath Stubbed Construction: Brick 4 Sided Cooling: Central
Cooling: Zoned/Dual Cooling: Electric Energy: Double Pane Energy: Insulation-Ceiling
Energy: Insulation-Floor Energy: Water Heater-Electric Energy: Clock Thermostat Equipment Incl: Alarm-Burglar
Equipment Incl: Alarm-Smoke/Fire Equipment Incl: Dishwasher Equipment Incl: Disposal Equipment Incl: Icemaker Line
Equipment Incl: Microwave Built In Equipment Incl: Wall Oven Equipment Incl: Cooktop Separate Exterior: Sprinkler System
Exterior: Deck/Patio Fireplace Location: In Great/Family Room Fireplace Typ: Factory Built Heating: Central
Heating: Forced Air Heating: Zoned/Dual Heating: Gas Home Warranty: Y
Interior: Cable In Street Interior: Ceilings 9 Ft Plus Interior: Ceilings-Trey Interior: Foyer-2 Story
Interior: Foyer-Entrance Interior: Hardwood Floors Interior: Pulldown Attic Stairs Interior: Vaulted Ceilings
Interior: Wall-To-Wall Carpet Interior: Whirlpool Bath Interior: Cable Tv Connections Kitchen/Breakfast: Pantry
Kitchen/Breakfast: Breakfast Area Lake/River: Other Lake Laundry Location: Other Laundry Room
Lot Description: Golf Course Lot Description: .5-1 Acre Roof: Composition Rooms: Family Room
Rooms: Lr Separate Rooms: Master On Main Level Rooms: Dr-Separate Unit: Na
Water/Sewer: Sewer Connected Water/Sewer: Public Water