A free seminar is being held on February 22 to assist home-buyers who are dreaming of purchasing a home once again after being forced to short-sale or were foreclosed on in a challenging economy.
Monica Malcuit, Signature Partners Realty, will share how rules and guidelines have changed in the real estate industry and will provide information with prospective buyers about how the changes help buyers.
For example, a buyer may be able to buy a home with as little as just 3.5% down.
The event is meant to help people who may not be aware of their housing options.
“I wanted to do something to help educate people on housing options because I literally come across people on a daily basis who don’t know that they could be homeowners and are essentially paying for someone else’s investment,” says Malcuit.
According to Malcuit, most people don’t think they can afford to buy or they believe that you can only buy if you have 20% down. She says there are many alternatives including a 5% down payment.
“There are conventional loans available with only 5% down which can all be gifted funds and down payment assistance as well. In addition, people don’t realize that there are major tax benefits to home-ownership as well,” said Malcuit.
One of the biggest myths she wants to expose is the belief someone has to wait 7-years to purchase again after a foreclosure.
“Everyone just assumes that if they’ve had that type of hardship that they have to wait 7 years to be eligible to buy again and that simply isn’t true. In addition, I think many people are embarrassed and don’t want to share that experience,” said Malcuit.
She says things have changed in the market to ensure that doesn’t happen again.
Malcuit explained that there was a time when buyers barely needed a pulse to qualify for a home loan with “stated income” and loan programs that had “pick a payment” options where they were able to qualify based on just making interest payments rather than truly being able to afford it. Those days are gone and the lending guidelines truly address debt to income ratios, reserves, etc.
The event is free and anyone who doesn’t own a home but wants to realize the American Dream of home-ownership or wants a second chance explained Malcuit.
“This will provide people with an opportunity to find out when home-ownership is a possibility. Sometimes people just need a little counseling to get their credit on the right track for instance. And who doesn’t want to have some hope about the future?” said Malcuit. “At a minimum, attendees will walk away with a better idea of what today’s Real Estate market is like.”
Seating is limited so be sure to RSVP in advance by calling or texting (925) 784-0214.
If you go:
Saturday February 22
10:00 am to Noon
70 Eagle Rock Way, Suite A
Brentwood CA
2 comments
I’m sorry I missed this event! Will there be another? Is there paperwork or materials that I could get a copy of?
Hi Kathy, we had a terrific turn out and there were several people who couldn’t attend so we’ll be doing another on March 22nd. You can call or text me at 925-784-0214
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