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3 doors, 1 motion detector, control panel/keypad and interior siren.
Protect America's GE security system provides flexible equipment packages so that you can customize a security system that meets your specific needs. To help detect burglars and intruders, wireless sensors that are part of any GE security system package, are placed on the doors and windows as well as wireless motion detectors that are used inside the home. Also, part of any GE security system package is the talking command station, which receives the signals from the wireless devices and sounds the 100dB interior siren.
With our 24/7 alarm monitoring service, the talking command station then attempts to notify the monitoring facility about the problem in your home by sending the signals either through your landline telephone or broadband Internet connection. The monitoring facility will allow you enough time to cancel the alarm from your home by entering the correct 4-digit code.
If the code is not entered on the GE security system, we will attempt to contact your home and ask for your correct password to verify whether it is a false alarm or a real emergency. If the correct password is not received on the first attempt to call your home, then our monitoring facility will immediately attempt to dispatch the appropriate emergency authorities to your home.
At that point, we would then attempt to call your emergency contact numbers to notify you, your family, and any friends or neighbors on the list about the problem at your house.
Most alarm companies charge an extra monthly fee to have a warranty on your home security system. At Protect America, we stand behind our product with a FREE Lifetime Warranty that covers your equipment for as long as you are a customer.
Protect America will ship replacement parts for all defective security equipment to our valued Customers at no charge for the period of time that Customer is monitored by Protect America, Inc.
This warranty period will remain in effect as long as the customer complies with the terms of the Standard Monitoring Agreement and the system is monitored by a Protect America, Inc. monitoring facility. The Warranty does not include batteries, or damages as a result of abuse, act of God, or in the event product is not used for its intended purposes.
If you don't feel comfortable talking with your lender, you should immediately contact a HUD-approved housing counseling agency and arrange an appointment with a counselor. A counselor will help you assess your financial situation, determine what options are available to you, and help you negotiate with your lender. A counselor will be familiar with the various workout arrangements that lenders will consider and will know what course of action makes the most sense for you and your family, based on your circumstances. In addition, the counselor can call the lender with you or on your behalf to discuss a workout plan. By meeting with a counselor before your mortgage payments are too far behind, you can protect yourself from future credit problems.
A good counselor will help you establish a monthly budget plan to ensure that you can meet all of your monthly expenses, including your mortgage payment. Your personal financial plan will clearly show how much money you have available to make the mortgage payment. This analysis will help you and your lender determine whether a reduced or delayed payment schedule could help you. Also, a counselor will have information on services, resources, and programs available in your local area that may provide you with additional financial, legal, medical or other assistance that you may need.
To find out more about HUD-approved housing counseling agencies and their services, please call (800) 569-4287 on weekdays between 9:00 a.m. and 5:00 p.m. ET (6:00 a.m. to 2:00 p.m. PT). You can also get an automated referral to the three housing counseling agencies located closest to you by calling (800) 569-4287, or see our list of these HUD-approved agencies by state.
When you make an offer on a home, your real estate broker will put your earnest money into an escrow account. If the offer is accepted, your earnest money will be applied to the down payment or closing costs. If your offer is not accepted, your money will be returned to you. The amount of your earnest money varies. If you buy a HUD home, for example, your deposit generally will range from $500 - $2,000.
The more money you can put into your down payment, the lower your mortgage payments will be. Some types of loans require 10-20% of the purchase price. That's why many first-time homebuyers turn to HUD's FHA for help. FHA loans require only 3% down - and sometimes less.
Closing costs - which you will pay at settlement - average 3-4% of the price of your home. These costs cover various fees your lender charges and other processing expenses. When you apply for your loan, your lender will give you an estimate of the closing costs, so you won't be caught by surprise. If you buy a HUD home, HUD may pay many of your closing costs.
Even hard-working people can encounter unforeseen situations which may affect their ability to pay their mortgage in a timely manner. Many issues can be contributing factors such as temporary job loss, medical illness or injury, marital difficulties, unforeseen repairs or high utility rates, tenant problems, or even a death in the family. Just one of these situations can have a direct bearing on making home mortgage payments.
US Loss Mitigation Services is a community counseling organization with twenty years of experience designed to help you bring your mortgage payments up-to-date. Using creative and often unconventional methods, all well within the Code of Federal Regulation guidelines, we stop the foreclosure process.
We have no interest in owning your home or prospering from your misfortune. As professionals who understand the mortgage industry from years of experience, we know how to help you. Put our expertise into action and you could become another one of our countless satisfied clients. Let our caring staff help you! If we are unable to help you, we may have other solutions that will. We may have programs to help you possibly pay off what you owe to the bank or lender. This could provide you the time necessary to become financially stable while improving your credit standing. Call to find out if you qualify for assistance today. We look forward to assisting you and to helping you achieve your goals. Please call us TODAY for your free consultation!
Candy and Bryan Davis is a US Loss Mitigation associate. This associate is now helping thousands of homeowners in the United States to save their homes from foreclosure. Candy and Bryan Davis has teamed up with Stan Schultz, a highly educated and experienced Senior Loss Mitigation Specialist.
Since 1985, he has helped thousands of homeowners experiencing financial distress save their homes. He is now a nationally recognized author of several books on loss mitigation techniques for mortgage delinquency rectification. He has trained hundreds of other loss mitigation specialists throughout the United States since 1993.
Stan Schultz is a graduate of Averett University in Danville, Virginia. He has lived and worked in Tidewater, Virginia for more than 30 years.
Stan Schultz participated in a 2002 to 2003 study by Mark Wiranowski with the Harvard University fellowship for Emerging Leaders in the Community and Economic Development. The study was entitled "Sustaining Homeownership Through Education and Counseling". If you wish to view please click here and scroll to page 50 or 57.
Candy and Bryan Davis454 Wythe Creek Road, Suite GPoquoson, Virginia 23662
Even in a slow market, housing prices in the Washington area are among the highest in the country. Add in the difficult mortgage market, and it could seem as if buying a first home is as likely as winning the lottery.
But state and local governments provide some help to first-time buyers through assorted programs aimed at giving them a financial boost.
These programs generally use the federal definition of a first-time home buyer -- someone who hasn't owned a home in the past three years. Other eligibility requirements vary greatly. There may be a waiting list, screening procedures and other prerequisites that must be satisfied before you see any money.
So even if you aren't ready to buy a home, it might be a good idea to do some research and know what assistance you qualify for, what you need to do to receive it and how far in advance you need to act.
Don't count yourself out because you think you make too much money to receive assistance. These programs are not all for the poorest home buyers. Many provide help to moderate-income buyers and even to some with above-average salaries.
For example, in Montgomery County, a single person making up to $66,150 is eligible for a below-market-interest-rate loan to purchase a home worth up to $429,619. Statewide, the Virginia Housing Development Authority offers more than a dozen loans, some of which are available to repeat home buyers, each with different requirements to help a wide variety of potential owners.
While loans for the purchase of a home are available in Virginia and some other jurisdictions, the most common type of assistance provides help with the cash that buyers need to purchase a home -- the down payment and closing costs. This assistance generally comes in the form of low-interest or interest-free loans, often with payments deferred for a few years or until the original buyer sells the home or stops using it as a primary residence.
Another popular type of program aims to help law enforcement officers, teachers and other public employees who may not earn enough to afford homes near their jobs. In the District, for example, the Metropolitan Police Housing Assistance Program gives officers who have been in good standing for at least a year matching down-payment funds of up to $1,500, deferred loans of up to $10,000, and income and property tax credits for their first five years of homeownership.
D.C. buyers can also get some federal help not available elsewhere in the nation. The D.C. First-Time Homebuyer Individual Income Tax Credit program provides a federal income tax credit of up to $5,000, available in the tax year the house is purchased. There are income limits, though: The credit is smaller for buyers with income of $70,000 or more ($110,000 for couples filing jointly), but buyers are still eligible for a partial credit with income up to $90,000 ($130,000 for joint filers).
FHA Loan Change—Seller-Funded Grant Programs
On October 1, 2007, Federal Housing Authority (FHA) issued a final ruling that Seller-Funded Grant programs, also described by HUD as seller-financed Down Payment Assistance programs, are no longer an eligible source of funds for FHA loan programs.
Under this ruling, all or a portion of down payment funds coming from a person or entity that financially benefits from the transaction, including any third party that is reimbursed directly or indirectly by the Seller is prohibited. This ruling impacts most Seller-Funded Grant programs including those provided by Indian tribes. With this change it is anticipated that some of the nonprofit entities will begin winding down operations. As a result, loans using assistance provided by these entities should be closely monitored to ensure the availability of the down payment funds for closing.
Note:
Migration Timeline
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Once upon a time, would-be home buyers had to outbid each other and forgot inspections to get the place of their dreams. Now, sellers are the ones making concessions.
"The buyers are in the driver's seat"
But not completely. The real estate boom that ended in 2005 was driven partly by lenders' willingness to give money to people with blemished credit or with no money for down payments. Nontraditional loans, such as adjustable-rate mortgages with low introductory interest rates that increased dramatically after two or three years, became popular.
With foreclosures now at a record high, banks are once again getting picky.
"It's not just a buyer's market," said Leon Bailey, a real estate agent at Exit Powerhouse in Prince George's County. "It's a buyers-with-great-credit market."
Real estate agents and analysts say those buyers who do qualify for mortgages should be prepared to stay in their homes for a few years if they expect to make money from their investment. During the real estate boom, many people bought homes only to flip them months later.
"As long as you're buying a home for the natural purpose, to live in, . . . having a home definitely beats renting," Bailey said.
So if you have the money and the good credit, is now the right time to buy?
Some market watchers say prices will continue to slide through the end of 2007, then start to pick up again in 2008 once inventory drops. Many real estate agents, not surprisingly, say they believe the market has already hit bottom. So yes, you might get a better deal if you wait a little longer. But you could also end up paying more if prices start rising again and interest rates increase.
Despite that uncertainty, one thing is for sure: There's a lot more room for negotiation these days.
"The market right now affords buyers a really good deal," Eric said.
With so many homes on the market, buyers can be more selective. And in many cases, they will get the home they want for less than the asking price, or with incentives such as the seller paying condominium fees for a time.
Will the seller give in to every concession? Not necessarily. Not all sellers are willing to take a loss.
Buyers "still smell blood, and they want to be aggressive in going for less than asking price, but it's backfiring on them," said Lance Horsley, an agent for Long & Foster in Friendship Heights.
"You're not going to knock $50,000 from a house, but you're going to open up an area of conversation and say, 'What can we do to make this work?' And no one will come behind you and say, 'I'll pay full price,' " Bailey said.
When preparing an offer, you should look at comparable sales from the last six months and consider the home's exceptional features, said Joseph Himali, a real estate agent at Best Address in Georgetown. You should also insist on a home inspection, which many buyers skipped during the real estate frenzy.
Buyers should be willing to walk away if it's just not working for them, Himali said. "If you can't find a home that is exactly what you want, you shouldn't buy it."
Once upon a time, would-be home buyers had to outbid each other and forgo inspections to get the place of their dreams. Now, sellers are the ones making concessions.
"The buyers are in the driver's seat," said John Eric, a real estate agent with Long & Foster in Arlington.
Buyers "still smell blood, and they want to be aggressive in going for less than asking price, but it's backfiring on them," said Lance Horsley, an agent for Long & Foster in Friendship Heights.
Bruss is away. These questions are taken from previous columns.
Q: DEAR BOB: Twelve years ago, we successfully sold our home ourselves and saved the real estate sales commission. Now we are trying to sell our townhouse without an agent and are encountering nothing but problems. The additional legal paperwork and required disclosures are amazing. More important, we discovered that even paying $795 to put our listing into the local multiple listing service hasn't brought results. The local agents aren't showing our home even though it is reasonably priced and we offer a 2 percent broker co-op commission. We had one very serious prospective buyer who came back three times. But she wanted us to reduce our sales price by 6 percent because we wouldn't have to pay a sales commission. Any suggestions on how we can sell our home and save the sales commission? -- Norman V.
How have real estate prices in your neighborhood changed this year? Check our maps and data.
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A: DEAR NORMAN: No. As longtime readers know, I do not recommend attempting to sell your home without a professional real estate agent. Although I am a real estate broker, unless I sell a rental house to my tenant, I always list it with a local real estate agent.
Full-time, professional real estate agents know local market values, whether they are rising or falling. By attempting to sell alone, you could be vastly underpricing your home. Or maybe it is overpriced, so prospective buyers stay away.
Most prospective home buyers shy away from "for sale by owner" newspaper classified ads. They fear the seller is strange for not listing with a realty agent. There is a good reason more than 80 percent of home sales are handled by real estate agents.
Although you paid $795 to put your listing in the local multiple listing service, that doesn't mean it will be actively marketed. The MLS is a powerful marketing tool, but your home also needs exposure on the Internet, such as Realtor.com and other Web sites, which only a proactive listing agent can provide.
Offering a 2 percent sales commission to a buyer's agent is an insulting joke. Get realistic. In today's competitive home sales market, you should list with a successful, aggressive real estate agent to get your home sold and to comply with today's disclosure requirements.
SOURCE: The National Association of Realtors' 2006 Survey of Second-Home Owners
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