Wanda's Blog: April 2009

1. wandatharpReport sees growth in pre owned home sales http://tinyurl.com/dk2ypg

The Iowa Finance Authority is offering a down payment and/or closing cost assistance for First Time Homebuyers who purchase forclosed homes!  Read below and contact your lender or me to see if you qualify.

Here is the information I received from IFA: 

Iowa Finance Authority is pleased to introduce REOHome, a down payment and/or closing cost assistance of up to $10,000 for FirstHome Program homebuyers purchasing a repossessed home.  This assistance is a soft second lien that is advanced by the lender at loan closing and is reimbursed by IFA post-closing.  This soft, second lien is forgiven at 20% per year where the home is maintained as primary residence over the first five years.

REOHome program is funded by a $500,000 grant from FHLB of Des Moines and may not be used with any other FHLB funded grants.  Prior approval is required and REOHome subsidy approvals will be awarded on a first come basis.  The REOHome application form (as well as other program forms) is located in Program Documents in IFA's Lender Online web tool (www.IowaFinanceAuthority.gov).

Eligible homebuyers shall:

* Be purchasing a repossessed home (land contact or seller financed mortgages foreclosures are excluded) or on a case by case basis, imminient foreclosure by financial institution;

* Use FirstHome Program mortgage (FirstHome or FirstHome Plus and relevant program guidelines apply) for loan financing;

* Have household income limit at 80% area median income or less puruant to REOHome limits chart (by county/family size), income limits included on REO Flyer is attached and located on Lender Online: and

* Sale price not too exceed $237,000.

The REOHome subsidy is restricted to down payment and closing costs allowed under the FirstHome Program.  Lenders shall submit the prior approval and reimbursement requests via Lender Online Edocuments.  The reimbursement request must accompany the FirstHome Program post-closing compliance review package submitted to IFA within ten days post closing.  Reimbursement shall not be process until closing documents and the recorded Deed Restriction in favor of Iowa Finance Authority are received by IFA

Let Let me introduce you to my furry children...

Yuki is my 7 year old female Shih Tzu.  I was a naughty girl one day and on a whim went into a local pet store (my bad) and found this sweet black and white tiny Shih Tzu.  She has been the sweetest dog I think I have ever had.  She is a little particular about where she goes to the bathroom when the weather is bad, so I put a doggy diaper on her when it is raining.  This prevents little puddles and presents on my lower level carpet.  It works pretty well, until someone forgets to take the diaper off when she goes outside.  She only weighs 7 pounds on a good day, but she will never miss a chance to get a "treat."  In the last year, we discovered that Yuki likes to "sing."  I'll have to video it someday.  It is hilarious to watch and hear her.  Someone in the house just needs to start howling and she joins along.  I'm not sure why, but it warms my heart and lifts my spirits listening to this little girl howl like a hound dog.

Daisy would not be a part of our family if not for my dear husband.  He had been talking about getting a Bernese Mountain Dog for about a year.   I told him that we couldn't have this breed because of my dog allergies...they shed really badly.  But, he need a man size dog, so we compromise and got a Wheaton Terrier.  That puppy didn't last to long in house due to some very strange behavior and aggression.  We traded the breeder for a different dog whom we ended up finding another home for...sweet dog, wrong family.  So, after some dog mishaps, I wasn't too keen on getting another dog...a dog I could be allergic to.  So, reluctantly I went to a farm to look at Bernese Mt. Dog puppies.  We went into a pen of 8 weeks puppies that hid from us...no we were not going to get a puppy...not a shy one.  Then my husband asked me to look at this older 4 month old puppy and the rest was history.  The best way to describe it is that she adopted us.  She does shed all over the house and ruined our hard wood floors, but I'm happy to say I'm not allergic to her!  She is now 2 years old and weighs 90 pounds.  We call her a "big ole cow", but she knows we love her. 

So here we are with a 7 pound dog and a 90 pound dog.  Guess who the boss is?   Yuki! 

Thanks for letting me share!