• Caroline County Virginia

Dwayne & Maryanne Moyers

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The Moyers Team, Northern Virginia Residential Real Estate Agents

Maryanne Moyers:
Associate Broker
Long & Foster Realtors (Stafford & Fredericksburg Offices)
1910 William Street
Fredericksburg, VA. 22401
Cell: 540-379-7359
Office: 540-371-5220
e-mail: maryanne.moyers@gmail.com

Dwayne Moyers:
Realtor
Long & Foster Realtors (Woodbridge Office)
13875 Hedgewood Drive
Woodbridge, VA. 22193
Cell: 540-446-6284
Office: 703-986-5857
e-mail: MoyersTeam@gmail.com

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Prince William County, VA.
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Manassas, VA.
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Fairfax County, VA.
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Fannie Mae

HARP Refinancing Program

HARP Refinancing Program Extended for 2 Years

The Home Affordable Refinance Program known as HARP was created by the Federal Housing Finance Agency (FHFA). It only applies to mortgages insured by Freddie Mac or Fannie Mae.

The Home Affordable Refinancing Program (HARP) will be expanded until December 31, 2015 (see below). HARP is a government financing program for underwater homeowners who have federally insured mortgages by Fannie Mae and Freddie Mac before June 1, 2009. This program requires applicants to be current on their mortgage. Under HARP 2.0 there is no longer a limit on negative equity for mortgages terms up to 30 years. This means underwater homeowners can refinance without private mortgage insurance (PMI). Anyone interested in this program must have on-time mortgage payments during the last 6 months, and no more than 1 late payment during the last 12 months. The goal of this program is to help… Continue reading

Streamlined Modification Initiative

Streamlined Modification Initiative

The Streamlined Modification Initiative created by the Federal Housing Finance Agency (FHFA) only applies to first-lien mortgages on all homes insured by Freddie Mac or Fannie Mae.

Effective immediately, homeowners seriously delinquent on mortgage payments have help avoiding foreclosure thanks to the Federal Housing Finance Agency (FHFA). The Streamlined Modification Initiative introduced by the FHFA will eliminate loan modification problems by offering qualified borrowers lower mortgage payments without providing financial documents and hardship explanations.

The benefits, requirements, and eligibility of the Streamlined Modification Initiative include the following:
(1) Allows approved applicants who are 3 months – 2 years behind on payments to receive a payment offer with a 3 month trial period.
(2) The new offer has a lower payment, and fixed interest rate attached to a 40 year mortgage.
(3) Homeowners considered underwater on home values are provided a principal forbearance.
(4) Before qualifying, homeowners are… Continue reading

Prince William County Foreclosures and Short Sales

Manassas town hall

Manassas Town Hall. Built as a combination Town Hall and Fire Department in 1914. In 1873 Manassas became incorporated, and in 1892 Manassas became the seat of Prince William County replacing Brentsville. Manassas became an independent city in 1975. It’s growth has surpassed anything we could have imagined in our lifetime.

We have sold homes in Prince William County since 2000 working from real estate offices in Manassas and Woodbridge. Most conversations we have with clients interested in Prince William County know the Manassas and Woodbridge areas as housing markets full of foreclosures. This article serves as an update to anyone interested in buying a home in Prince William County.  So here is a brief description of Prince William County, and the short-term outlook of the residential real estate market.  As you see below, foreclosures no longer control future growth and pricing.

Infrastructure Improvements. … Continue reading

Purchasing Freddie Mac and Fannie Mae Foreclosures

The Purchase of Foreclosures

We’ve sold more than 240 foreclosures. Because of our involvement with foreclosure transactions we are often asked if there is a good strategy for purchasing foreclosure properties. The best advice we can give you when purchasing Freddie Mac and Fannie Mae Foreclosures is to find a real estate agent who is certified as a Freddie Mac Homesteps Listing Agent, and Fannie Mae HomePath Listing Agent. If the agent you are working with is an experienced foreclosure listing agent they will know negotiation and pricing practices of asset managers, and special offers by both government sponsored enterprises Fannie Mae and Freddie Mac. This gives the buyer an edge against other contract offers.

Freddie Mac and Fannie Mae set the standard of how foreclosure properties are managed, maintained, released to vendors for marketing and sales, and any contributions or special incentives provided to purchasers upon closing.  Due… Continue reading

The Process of Short Sales and Foreclosures

THE PROCESS of SHORT SALES and FORECLOSURES

When foreclosed homes began to appear in 2006 after the housing boom, many real estate investors, and people attempting to buy a home at bargain prices, believed they could buy bank owned properties for below market value. Banks were already writing off crushing losses on homes where many stated income loan packages placed buyers into homes which they quickly realized they couldn’t afford. Many other purchasers became unemployed and couldn’t make monthly mortgage payments on unemployment or lesser paying jobs, while others intentionally supplied loan application information which was less than truthful to move into better homes and neighborhoods. There were also those who appeared to commit mortgage fraud while never intending to make a single mortgage payment.

Knowing the home would eventually go into foreclosure, often times the people living in these homes abandoned them in less than acceptable condition. Banks holding… Continue reading

About The Moyers Team: Dwayne & Maryanne Moyers, Realtors

The Moyers are full-time real estate agents affiliated with Long & Foster Realtors. The Moyers Team provides all residential services in Fairfax County, Prince William County, Stafford County, Fredericksburg, Spotsylvania County, King George County, & Caroline County.