The Melville Team http://www.melvilleteam.com Full Service Real Estate Team in the Phoenix Area Wed, 09 May 2012 20:58:17 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 3400 S Oleander Dr Chandler AZ 85248 http://www.melvilleteam.com/3400-s-oleander-dr-chandler-az-85248/ http://www.melvilleteam.com/3400-s-oleander-dr-chandler-az-85248/#comments Wed, 09 May 2012 20:31:20 +0000 Ryan http://www.melvilleteam.com/?p=661 New listing in Ocotillo!

5 BEDROOMS | 2.5 BATHROOMS | 3 CAR GARAGE | 3,126 SQUARE FEET | TRADITIONAL SALE

More Info

More Photos

Virtual Tour

  1. Contact Us

  6. Loading ...
]]> http://www.melvilleteam.com/3400-s-oleander-dr-chandler-az-85248/feed/ 0 April 2012 http://www.melvilleteam.com/april-2012/ http://www.melvilleteam.com/april-2012/#comments Wed, 25 Apr 2012 21:03:17 +0000 Ryan http://www.melvilleteam.com/?p=550 Thank you for joining us for our monthly newsletter.

Topics we discuss:

Stats – Download Stats Sheet
New Homes are back
Short Sales
Trustee Sales
Referral acknowledgment

Click here to view the embedded video.

]]> http://www.melvilleteam.com/april-2012/feed/ 0 What does AWC mean http://www.melvilleteam.com/what-does-awc-mean/ http://www.melvilleteam.com/what-does-awc-mean/#comments Thu, 12 Apr 2012 22:28:13 +0000 Ryan http://www.melvilleteam.com/?p=511 Read More]]> One of the most frequent questions that we get asked is what does ‘AWC‘ mean when searching for a home to purchase in Arizona.

AWC means active with contigencies. This usually means that the listing is a short sale that already has an offer from another buyer that has been accepted by the seller and has been presented to the seller’s lender to see if they qualify for a short sale.

A lot of our clients fall in love with AWC listings and they want to submit an offer. You can submit backup offers on AWC listings, but the likelyhood of it going through is slim. The first buyer would have to cancel the contact for you to have a shot at being considered.

It is a good rule of thumb to only look at truly active listings. Checkout the video below to see what we mean.

Click here to view the embedded video.

]]> http://www.melvilleteam.com/what-does-awc-mean/feed/ 0 Save our home AZ http://www.melvilleteam.com/save-our-home-az/ http://www.melvilleteam.com/save-our-home-az/#comments Fri, 23 Mar 2012 21:28:18 +0000 Ryan http://www.melvilleteam.com/?p=439 Read More]]> Save our Home AZ is a program that has rolled out here in Arizona. This program is designed to provide unemployment, underemployment and reinstatement mortgage payment assistance as well as Short Sale assistance in addition to reduction in principle balance to troubled home owners throughout the state.

The Save our Home AZ priciple reduction program may provide up to $50,000 in reduction while the participating lender contributes a matching amount to reduce the payment to 31% of the income of the home owner.

Save our Home AZ was created to help those responsible home owners avoid foreclosure on their primary Arizona residence.

Save our Home AZ

Qualifications of Save our Home AZ

- The total gross (the total before heath care costs, taxes, social security, etc.) household income may not be greater than 120% of the area median income for the county in which the home is located. The table below reflects 120% of the area median income by household size and county.

County Household Size (persons)
1 2 3 4 5 6 7 8 or more
Apache $38,850.00
or less		 $44,400.00
or less		 $49,950.00
or less		 $59,475.00
or less		 $59,925.00
or less		 $64,350.00
or less		 $68,775.00
or less		 $73,200.00
or less
Cochise $45,525.00
or less		 $51,975.00
or less		 $58,500.00
or less		 $64,950.00
or less		 $70,200.00
or less		 $75,375.00
or less		 $80,550.00
or less		 $85,800.00
or less
Coconino $55,650.00
or less		 $63,600.00
or less		 $71,550.00
or less		 $79,425.00
or less		 $85,800.00
or less		 $92,175.00
or less		 $98,550.00
or less		 $104,850.00
or less
Gila $43,125.00
or less		 $49,275.00
or less		 $55,425.00
or less		 $61,575.00
or less		 $66,525.00
or less		 $71,475.00
or less		 $76,425.00
or less		 $81,300.00
or less
Graham $40,425.00
or less		 $46,200.00
or less		 $51,975.00
or less		 $57,750.00
or less		 $62,400.00
or less		 $67,050.00
or less		 $71,625.00
or less		 $76,275.00
or less
Greenlee $46,050.00
or less		 $52,650.00
or less		 $59,250.00
or less		 $65,775.00
or less		 $71,100.00
or less		 $76,350.00
or less		 $81,600.00
or less		 $86,850.00
or less
La Paz $38,850.00
or less		 $44,400.00
or less		 $49,950.00
or less		 $55,425.00
or less		 $59,925.00
or less		 $64,350.00
or less		 $68,775.00
or less		 $73,200.00
or less
Maricopa $55,050.00
or less		 $62,925.00
or less		 $70,800.00
or less		 $78,600.00
or less		 $84,900.00
or less		 $91,200.00
or less		 $97,500.00
or less		 $103,800.00
or less
Mohave $44,925.00
or less		 $51,300.00
or less		 $57,750.00
or less		 $64,125.00
or less		 $69,300.00
or less		 $74,400.00
or less		 $79,575.00
or less		 $84,675.00
or less
Navajo $38,850.00
or less		 $44,400.00
or less		 $49,950.00
or less		 $59,475.00
or less		 $59,925.00
or less		 $64,350.00
or less		 $68,775.00
or less		 $73,200.00
or less
Pima $50,100.00
or less		 $57,300.00
or less		 $64,425.00
or less		 $71,550.00
or less		 $77,325.00
or less		 $83,025.00
or less		 $88,725.00
or less		 $94,500.00
or less
Pinal $55,050.00
or less		 $62,925.00
or less		 $70,800.00
or less		 $78,600.00
or less		 $84,900.00
or less		 $91,200.00
or less		 $97,500.00
or less		 $103,800.00
or less
Santa Cruz $38,925.00
or less		 $44,475.00
or less		 $50,025.00
or less		 $55,575.00
or less		 $60,075.00
or less		 $64,500.00
or less		 $68,925.00
or less		 $73,425.00
or less
Yavapai $47,625.00
or less		 $54,450.00
or less		 $61,275.00
or less		 $68,025.00
or less		 $73,500.00
or less		 $78,975.00
or less		 $84,375.00
or less		 $89,850.00
or less
Yuma $40,950.00
or less		 $46,800.00
or less		 $52,650.00
or less		 $58,425.00
or less		 $63,150.00
or less		 $67,800.00
or less		 $72,450.00
or less		 $77,175.00
or less

- The 1st position mortgage has to be purchase money (ask us for more details on this) or no cash-out refi of a purchase money loan.
- The max 1st mortgage amounts are Government Sponsored Entities conforming loan amounts to $729,750.00 for a one unit dwelling.
- The max DTI (Debt-to-Income) ratios of 31/45 to include both Government Backed Loans and Auto Loans.
- Must be at least 60 days past due on your mortgage.
- Must be no less than 60 days from Trustee Sale.

Is your property eligible for Save our Home AZ?

- This applies to owner occupied / primary residences – no second homes or investment properties
- Single family residence, one or four unit dwellings, townhouses and condos

ADOH Terms of Loans for Save our Home AZ

- $50K maximum loan amount
- All loans are zero percent interest with no monthly penalty.
- Loan term legnth is 5 years
- Loan is satisfied (forgiven) at the end of the term once you have successfully completed the program

Save our Home AZ Assistance Types

Save our Home AZ Permanent Modification/Principal Reduction

- Assistance up to $50,000 (includes 2nd Mortgage Settlement and Mortgage Payment Relief).
- APT Pass
- Mortgage balance is more than 120% of property’s Fair Market Value.

Save our Home AZ Second Mortgage Settlements

- Assistance up to $5,000.00
- APT Pass or qualified for UMA
- Mortgage balance is more than 120% of property’s Fair Market Value.

Save our Home AZ Unemployment Mortgage Assistance (UMA)

- Assistance up to $50,000 (includes Second Mortgage Settlement if applicable) with a maximum of 24 months of assistance minus the number of payments that were relieved during the Save our Home AZ program.
- Rescue assistance may bring first mortgage current by curing all past due payments including; accrued interest, late fees and NSF fees excluding any legal fees (maximum number of payments rescued is 12).
- The max amount of monthly assistance is $2,000 or the mortgage payment minus 31% of borrower’s monthly gross income excluding unemployment assistance.

Save our Home AZ Short Sale Assistance

- Assistance of up to $25,000 which includes all other assistance from the program
- A max of $4500 in assistance to the home owner (YOU)
- Up to 3% of the sales price for the buyer’s closing costs that are paid on behalf of the seller.

Arizona Short Sale Frequently Asked Questions

The Save our Home AZ program is not going to be around forever, please see below on how to start!

How to begin

To check and see if you may be eligible for Save our Home AZ, please fill out the form below or call us at 480-447-0937 Mon-Fri 9am-5pm.

]]> http://www.melvilleteam.com/save-our-home-az/feed/ 0 Virtual Tour – 30696 N Royal Oak Way http://www.melvilleteam.com/virtual-tour-30696-n-royal-oak-way/ http://www.melvilleteam.com/virtual-tour-30696-n-royal-oak-way/#comments Sun, 18 Mar 2012 16:30:32 +0000 Ryan http://www.melvilleteam.com/?p=432 Here is a virtual tour of a listing we have down in San Tan Valley.

Click here to view the embedded video.

Complete listing

]]> http://www.melvilleteam.com/virtual-tour-30696-n-royal-oak-way/feed/ 0