Which Veterans Are Eligible For VA Home Loan Benefits?

I found a great article about VA loans for military and veterans. A lot of veterans don't realize that they qualify for a VA Loan, which is a great product. You do not have to have any money down for the loan it is 100% financed, although you do have to think about closing cost. Dan Green really writes a great article on who qualifies, Dan is a mortgage lender. Please if you have any questions feel free to contact me at www.MarylandHomesbyLynn.com

VA Home Loans : Eligibility Standards

As a program for military borrowers, the U.S. Department of Veterans Affairs requires that all VA mortgage applicants meet certain minimum standards related to military service. Standards vary depending on whether you served during wartime or peacetime.

For example, individuals serving during World War II, the Korean War, and/or the Vietnam War, must show at least 90 days on active duty, and discharge under any condition other than dishonorable.

Individuals servicing during peacetime from 1947-1981 must show at least 181 days of continuous duty, and discharge under any condition other than dishonorable.

In both of the above examples, service-connected disabilities preclude the minimum 90- and 181-day standards.

Service After 9/7/1980 (Enlisted) And 10/16/1981 (Officer)

VA home loan eligibility standards change for servicemen and servicewomen enlisted after September 7, 1980; and for officers serving after October 16, 1981.

If your dates of military service include the dates above and you have since separated from the service, you must show at least 24 months of continuous active duty, or the complete period for which you were called to active duty then discharged under conditions other than dishonorable.

For veterans with fewer than 181 days of service, proof of discharge from a service-connected disability must be shown, or evidence that the discharge was tied to involuntary reduction, specific medical conditions, or "government convenience".

Special provisions are also made for individuals discharged because of Hardship (10 USC 1173) or Early Out (10 USC 1171).

Gulf War Service From 8/2/1990 To As-Yet-Undetermined Date

Gulf War veterans have specific VA home loan eligibility standards, too.

Mortgage applicants with Gulf War experience must show 24 months or more of continuous active duty, or the complete period for which they were called to active duty then discharged under conditions other than dishonorable.

For Gulf War vets with fewer than 90 days of service, eligibility is granted for individuals discharged for service-connected disabilities, and for those whose discharge is linked to involuntary  reduction, certain medical conditions, and "government convenience".

Individuals discharged because of Hardship (10 USC 1173) or Early Out (10 USC 1171) are granted VA home loan eligibility as well.

Selected Reserves And National Guard Members

VA home loan eligibility is extended to members of the Selected Reserves and National Guard, assuming several initial conditions are met :

• Borrower must have served at least 6 years
• Borrower must have attended weekend drills
• Borrower must have attended 2-week active training for duty

Borrowers who continue to serve today are eligible, as are the Selected Reserves and National Guard members who were honorably discharged, placed on the retired list, or transferred to the Standby Reserve or Ready Reserve after honorable service.

Individuals with fewer than 6 years of service are eligible if discharged for a service-related disability.

Surviving Spouses And Spouses Of POW/MIA Servicepersons

In some cases, VA home loan benefits extend to spouses of military personnel, too -- specifically, to unremarried surviving spouses and spouses of POW and MIA servicemen and servicewomen.

Surviving spouses who remarry after attaining age 57 may be VA home loan-eligible, too.

Other Eligible Military Borrowers

Lastly, the Department of Veterans Benefits makes the VA Home Loan Guaranty program available to members of certain organizations, including :

• Public Health Service officers
• Air Force, Coast Guards and U.S. Military cadets
• U.S. Naval Academy midshipmen
• National Oceanic & Atmospheric Administration (NOAA) officers
• Merchant season with WWII experience

Again visit us at www.MarylandHomesbyLynn.com

Moving Tips For Your Pets brought to you by Bacardi

Hey Everyone, Bacardi here from Bacardi's corner. Lynn wanted me to write an article about moving tips for your pets. Well Folks I am going to be honest I cheated, I took an article from the Realtor Magazine. Selling season is around the corner and it is never too soon to think about moving and you have to take care of your four legged friends. Hope this article is helpful, if you have any questions get in touch with Lynn because I can't answer the phone, you can find her at www.MarylandHomesbyLynn.com

Moving to a new home can be stressful on your pets, but there are many things you can do to make the process as painless as possible. 

1. Update your pet’s tag. Make sure your pet is wearing a sturdy collar with an identification tag that is labeled with your current contact information. The tag should include your destination location, telephone number, and cell phone number so that you can be reached immediately during the move.
2. Ask for veterinary records. If you’re moving far enough away that you’ll need a new vet, you should ask for a current copy of your pet’s vaccinations. You also can ask for your pet’s medical history to give to your new vet, although that can normally be faxed directly to the new medical-care provider upon request. Depending on your destination, your pet may need additional vaccinations, medications, and health certificates. Have your current vet's phone number handy in case of an emergency, or in case your new vet would like more information about your pet.
3. Keep medications and food on hand. Keep at least one week’s worth of food and medication with you in case of an emergency. Vets can’t write a prescription without a prior doctor/patient relationship, which can cause delays if you need medication right away. You may want to ask for an extra prescription refill before you move. The same preparation should be taken with special therapeutic foods — purchase an extra supply in case you can't find the food right away in your new area.
4. Seclude your pet from chaos. Pets can feel vulnerable on moving day. Keep them in a safe, quiet, well-ventilated place, such as the bathroom, on moving day with a “Do Not Disturb! Pets Inside!” sign posted on the door. There are many light, collapsible travel crates on the market if you choose to buy one. However, make sure your pet is familiar with the new crate before moving day by gradually introducing him or her to the crate before your trip. Be sure the crate is well-ventilated and sturdy enough for stress-chewers; otherwise, a nervous pet could escape.
5. Prepare a first aid kit. First aid is not a substitute for emergency veterinary care, but being prepared and knowing basic first aid could save your pet's life. A few recommended supplies: Your veterinarian's phone number, gauze to wrap wounds or to muzzle your pet, adhesive tape for bandages, non-stick bandages, towels, and hydrogen peroxide (3 percent). You can use a door, board, blanket or floor mat as an emergency stretcher and a soft cloth, rope, necktie, leash, or nylon stocking for an emergency muzzle.
6. Play it safe in the car. It’s best to travel with your dog in a crate; second-best is to use a restraining harness. When it comes to cats, it’s always best for their safety and yours to use a well-ventilated carrier in the car. Secure the crate or carrier with a seat belt and provide your pet with familiar toys. Never keep your pet in the open bed of a truck or the storage area of a moving van. In any season, a pet left alone in a parked vehicle is vulnerable to injury and theft. If you’ll be using overnight lodging, plan ahead by searching for pet-friendly hotels. Have plenty of kitty litter and plastic bags on hand, and keep your pet on its regular diet and eating schedule.
7. Get ready for takeoff. When traveling by air,check with the airline about any pet requirements or restrictions to be sure you’ve prepared your pet for a safe trip. Some airlines will allow pets in the cabin, depending on the animal’s size, but you’ll need to purchase a special airline crate that fits under the seat in front of you. Give yourself plenty of time to work out any arrangements necessary including consulting with your veterinarian and the U.S. Department of Agriculture. If traveling is stressful for your pet, consult your veterinarian about ways that might lessen the stress of travel.
8. Find a new veterinary clinic and emergency hospital. Before you move, ask your vet to recommend a doctor in your new locale. Talk to other pet owners when visiting the new community, and call the state veterinary medical association (VMA) for veterinarians in your location. When choosing a new veterinary hospital, ask for an impromptu tour; kennels should be kept clean at all times, not just when a client’s expected. You may also want to schedule an appointment to meet the vets. Now ask yourself: Are the receptionists, doctors, technicians, and assistants friendly, professional and knowledgeable? Are the office hours and location convenient? Does the clinic offer emergency or specialty services or boarding? If the hospital doesn’t meet your criteria, keep looking until you’re assured that your pet will receive the best possible care.
9. Prep your new home for pets. Pets may be frightened and confused in new surroundings. Upon your arrival at your new home, immediately set out all the familiar and necessary things your pet will need: food, water, medications, bed, litter box, toys, etc. Pack these items in a handy spot so they can be unpacked right away. Keep all external windows and doors closed when your pet is unsupervised, and be cautious of narrow gaps behind or between appliances where nervous pets may try to hide. If your old home is nearby, your pet may try to find a way back there. To be safe, give the new home owners or your former neighbors your phone number and a photo of your pet, and ask them to contact you if your pet is found nearby.
10. Learn more about your new area. Once you find a new veterinarian, ask if there are any local health concerns such as heartworm or Lyme disease, or any vaccinations or medications your pet may require. Also, be aware of any unique laws. For example, there are restrictive breed laws in some cities. Homeowner associations also may have restrictions — perhaps requiring that all dogs are kept on leashes. If you will be moving to a new country, carry an updated rabies vaccination and health certificate. It is very important to contact the Agriculture Department or embassy of the country or state to which you’re traveling to obtain specific information on special documents, quarantine, or costs to bring the animal into the country.

Again thanks for stopping by and visit Lynn at www.MarylandHomesbyLynn.com

10 hottest housing markets for 2014

I had a client send me this article that she had found on CNNMoney. Looks like it is great news for the housing market in Baltimore Metro area. As always if you have any questions or need any help contact us and don't for get to stop by our website at www.MarylandHomesbyLynn.com

• Median home price : $299,000
• Forecast gain through Sept. 2014: 8%

Baltimore's metro area is a study in contrasts, with both hardscrabble inner city neighborhoods and lush suburbs. Row houses in poor neighborhoods can sell for $50,000 or less but the area's median home price is $299,000, nearly 50% higher than the national figure.

The city's proximity to Washington D.C. has enabled Baltimore's residents to reap the benefits of well-paid government and corporate jobs. Its western suburbs, with their easy commute to D.C., are among the area's most expensive.

Meanwhile, local hiring at Johns Hopkins Hospital and University, as well as other area institutions, has been on the rise, according to Dean Cottrill, president of Coldwell Banker Mid-Atlantic.

All of this has helped to push home sales higher. "Buyers have been eating up the inventory," said Cotrill.

Prices climbed nearly 5% in the 12 months leading up to September and they are expected to record another 8% in gains this year, according to CoreLogic's forecast.

WOW...With this information, looks like it is going to be a good year to sell your house. Contact us and let Lynn Nichols Real Estate get you started on the process. Thanks for stopping by and don't forget to visit our website at www.MarylandHomesbyLynn.com

SNOW DAY!!! What to do?

Well looks like here in Maryland we are going to have a snow day, so what to do??? Here are a list of some ideas.
1. Create a secret snowball stash for the summer, what a good way to surprise people at a 4th of July party, and think no one else will be able to hit you back.
2. Plan that dream vacation, there you go, think of somewhere warm.
3. Have an indoor picnic, that would be fun for the kids and if you have a fireplace roast marshmallows.
4. Build a snowman, don't forget when you make that last minute run to the grocery store to pick up carrots.
5. Put together a puzzle, that can be family fun.
6. Start that workout video you have been putting off.
7. You have been wanting to move and what a great day to start the process being stuck in the house all day I have some knowledge about this one...
 A. Go to www.FindMyMarylandHomeValue.com, there you can find an estimate of what your home is  worth, you can also directly contact me.

 B. After that is done, one of the biggest things is to make sure your house is clean, in good repair and decluttered. My advice start with your closets and drawers, if you don't use it and won't use it let it go.   Give it to charity, sell it but get rid of it. Make a punch list of little things that need to be repaired, such as light bulbs replaced, light switch-plate covers, re-caulking a bathtub.                                                                                                          
There are just a few ideas and I have plenty, I would also be more than willing to sit down with you and talk about getting your house in the market and going through the house with you. Please get in touch with me at www.MarylandHomesbyLynn.com, Thanks for stopping by today...

Have a great snow day!!!

Time for the Fudge

I could not help myself, but with the snow coming into Maryland I wanted to post a fudge recipe. This takes me back to years ago when I was younger my mom would always make fudge during a snow storm. So here is a Peanut Butter Fudge recipe that I hope you enjoy....

Ingredients

1/2 cup butter                                                                                                                                                                                         2 1/4 cups brown sugar                                                                                                                                                                         1/2 cup milk                                                                                                                                                                                               3/4 cup peanut butter                                                                                                                                                                         1 teaspoon vanilla extract                                                                                                                                                                   3 1/2 cups confectioners' sugar

Directions

1. Melt butter in a medium saucepan over medium heat. Stir in brown sugar and milk. Bring to a boil and boil for 2 minutes, stirring frequently. Remove from heat. Stir in peanut butter and vanilla. Pour over confectioners' sugar in a large mixing bowl. Beat until smooth; pour into an 8x8 inch dish. Chill until firm and cut into squares.

I hope you enjoy this delicious recipe and please if you try it let us know who it turned out. If you are selling your home, what a wonderful thing to have sitting on the counter when the house is being shown, may just make them feel right at home. As always any Real Estate questions contact us as www.MarylandHomesbyLynn.com

2013 Year-End Foreclosure Report: Filings Fall 26%

Great news for the economy and as well as the housing market...Any questions please contact us at MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS | FRIDAY, JANUARY 17, 2014

Last year, the foreclosure crisis began dissipating. Foreclosure filings -- including default notices, scheduled auctions, and bank repossessions -- were down 26 percent in 2013 compared to 2012, and were down 53 percent from the peak in 2010, according to RealtyTrac’s Year-End 2013 Foreclosure Market report.

The 1.4 million properties with foreclosure filings in 2013 marked the lowest amount since 2007. 

During the year, one in every 96 homes -- or about 1.04 percent of U.S. housing units -- received a foreclosure filing. That’s down from a peak of 2.23 percent of housing units in 2010. 

The following states had the highest foreclosure filing rates in 2013: 

• Florida: 3.01% of all housing units received a foreclosure filing
• Nevada: 2.16%
• Illinois: 1.89%
• Maryland: 1.57%
• Ohio: 1.53%

The average estimated value of a property receiving a foreclosure filing in 2013 was $191,693 at the time of the foreclosure filing -- a 1 percent increase from the average value in 2012, according to the RealtyTrac report. What’s more, the average estimated value of properties that received foreclosure filings in 2013 rose 10 percent since the foreclosure notice was filed. 

The national average time to complete a foreclosure rose 3 percent in the fourth quarter of 2013 to a record high of 564 days. The states that face the longest times to foreclose are New York (1,029 days), New Jersey (999 days), and Florida (944 days), according to the RealtyTrac report. 

“Millions of home owners are still living in the shadow of the massive foreclosure crisis that the country experienced over the past eight years since the housing price bubble burst — both in the form of homes lost to directly to foreclosure as well as home equity lost as a result of a flood of discounted distressed sales,” says Daren Blomquist, vice president at RealtyTrac. “But the shadow cast by the foreclosure crisis is shrinking as fewer distressed properties enter foreclosure and properties already in foreclosure are poised to exit in greater numbers in 2014 given the greater numbers of scheduled foreclosure auctions in 2013 in judicial states — which account for the bulk of U.S. foreclosure inventory.”

Again thanks for stopping by and don't forget to visit us at www.MarylandHomesbyLynn.com

Thought I would share today the housing market summary for Anne Arundel County for the month of December. If you would like to know more about housing the market or a more detailed report  please contact us and you can also visit our website at www.MarylandHomesbyLynnn.com,  Please note we can give you a report in what ever county you like in Maryland.                     

                                             

December 2013 Summary

Statistic	Values	YoY	MoM
Total Sold Dollar Volume	$158,760,957	+3.19%	-21.21%
Closed Sales	419	-4.99%	-12.71%
Median Sold Price	$320,000	+10.34%	-0.85%
Avg Sold Price	$378,904	+8.61%	-9.74%
Avg Days on Market	83 days	-13.54%	+6.41%
Avg Sold to Orig List Ratio	94.29%	+1.06%	-0.38%

Thanks again for dropping by today, and again visit us at http://www.MarylandHomesbyLynn.com