Mobile Home Stalker

This week the Diva has more mobile loveliness just for you Gentle Reader. With out further adieu we are pleased to present Oak Creek Homes.

"Oak Creek Homes has built a name in the manufactured home industry that is recognized throughout Texas, New Mexico, Colorado, Oklahoma, Arkansas and Louisiana. Oak Creek sells its manufactured homes through a network of company owned and independently owned model manufactured home centers and builders throughout the Southwestern U.S."

You can view more stunning Manufactured and Modular beauties HERE or visit the Diva HERE to apply on line.

images:http://www.oak-creek-homes.com/our-homes/manufactured-homes/default.htm

HUDs and Kisses

The Diva adores a good bargain; the evidence of her weakness for all things Reduced for Clearance is safely hidden behind the doors of her shoe closet.

It is rumored that your charming hostess spends her spare time searching for unadvertised sale events and resisting the urge to kiss unsuspecting sales clerks on the lips after finding particularly good discounts.

In the Diva’s humble opinion, one should never pay full price for anything. Even when it comes to home shopping.

If you are in the market for a new house do not miss the opportunity to check out properties offered by HUD (The Department of Housing and Urban Development). This website has nationwide listings of FHA foreclosed properties. If you hurry, you can take advantage of the $100 down payment program.

A good home inspector, as well as a Realtor and Loan Officer who are experienced in HUD foreclosures are essential for a smooth transaction, but the rewards can be enormous.

Be aware that the temptation to kiss the Escrow Agent on the lips at the closing table may be more than some new homeowners can resist.

XOXO

image:http://www.flickr.com/photos/20595102@N00/183416348/

How to Eat an Elephant

The Diva understands that the process of purchasing a home can be daunting, much like eating an elephant (The Diva does not endorse elephant eating, she is using this particular analogy for illustrative purposes only). Usually, the best way to approach consuming a pachyderm is one bite at a time. The same is true for homeownership.

The first step? Weigh the benefits of owning vs. renting. Ginnie Mae has a useful tool to help make the decision easier. You can check it out HERE, or apply on line HERE

image:http://www.flickr.com/photos/joewilk/451197749/

Be Prepared

Admittedly, the Diva has never been a Boy Scout; however, she does have a soft spot for men in uniforms admire their preparedness. When you apply for a home loan, preparation is important.

Here is a list of some of the items you should bring with you when you meet with your Loan Officer for the first time:

1. A copy of your Social Security Card and Drivers License or state Issued Picture Identification Card.

2. Most recent 30 days pay check stubs.

3. 60 days Bank Statements for all accounts (Computer printouts are acceptable if the Bank Teller stamps each page). Include retirement and 401K accounts as well.

4. Your last two years W-2 forms. (Your last 2 years tax returns with all schedules if you are self employed).

5. Names, addresses, phone numbers and dates for all landlords and employers for the last 3 years.

6. Copies of any divorce decrees, or bankruptcy papers, orders of child support, documentation of release of lien or judgment.

7. If you do not have at least three lines of credit open for the last twelve months bring the names, addresses, phone numbers and account numbers for any accounts that may not report to the credit bureau. If you have limited credit these accounts can strengthen your application. Acceptable examples would include utility companies, insurance companies (if premiums are not payroll deducted), childcare, furniture rental, or car payments. Try to have at least three or four lines of credit ready to verify.

8. A copy of your Real Estate Contract.

Having all of these items with you at your first meeting is not mandatory, but it can speed up the approval of your loan significantly.

Who knows? You may even earn a merit badge in the process.

image:http://www.phawker.com/wp-content/uploads/2007/12/boy_scout.jpg

Frugal Is the New Black

Fads in fashion come and go quickly. The Diva can think of many examples of why this makes her a very happy camper indeed. She will not bore you with the details except to say “Trucker Hats”. If you are picking up what the Diva is laying down then it is safe to say that she has made her point.

With the recent downturn in the economy, a new trend is coming into Vogue. No longer is conspicuous consumption the modus operandai for many Americans, in fact pinching pennies is a new trend. Frugal is the new black.

With many anxious sellers and plummeting prices, real estate bargains are out there for the taking. Saving for a new home does not have to be difficult.

Here are the Diva’s top tips for hatching your down payment nest egg:

1. Have a yard sale. Clear out the closets. Clean out the garage. Get rid of any unused items, this is a great source of cash and it will be easier for you to move when you purchase your dream home.

2. Eliminate unnecessary monthly expenses. Eating out, fancy coffee, tobacco and alcohol are all expensive! Put that money to better use.

3. Use tax return or bonus money toward your down payment. After you purchase your new home, speak with your tax professional to take advantage of additional exemptions through out the year.

4. See about changing your W-4 form at your job. The additional deductions will result in more take home pay that can be added to your savings account.

5. Gifts from parents and employers can be used for purchasing a new home.

6. Speak to your real estate agent about asking the seller to pay closing costs as part of the offer on your new home. In most cases, the seller can contribute up to 6% of the sale price toward the cost of your transaction.

7. Look into the First Time Home Buyer tax credit that was recently included in the 2009 stimulus bill. If you are a first time buyer, or if it has been at least 3 years since you have owned a home you could qualify for an additional tax refund of up to $8000. Contact your tax professional for details and limitations of this program.

8. Shop for your loan, the interest rate and fees charged by your lender will affect the amount of cash you need to close as well as the amount of your monthly payment. For a free quote, or to apply on line click HERE.

9. Have your insurance agent look at your current policies; many times, there are additional savings available by increasing deductibles or moving multiple policies to one agency. The savings can be used to fund your down payment.

10. Many cities and municipalities have down payment grants available for home buyers. Contact the housing authority in the area you are considering for more information.

The Diva wishes you the best of luck in your new home search. She really must tell you how fab you look in frugal!

image:http://www.virginmedia.com/money/features/ten-tips-to-be-a-millionaire.php?ssid=5