What is Ameridream?

Ameridream is a non profit company that helps low to moderate income individuals or families by a home by providing down payment assistance. The Ameridream dpa program has been setting the standard for which all other down payment assistance programs strive to be. To get the Ameridream cash assistance, you must find a seller that is willing to participate in the program. The seller pledges money from the proceeds of the sale to the Ameridream foundation. In exchange Ameridream will gift the buyer the down payment needed for the FHA financing. Typically it is 3%.

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Is The Real Estate Market Ever Going To Come Back?

May 21, 2008

Is The Real Estate Market Ever Going To Come Back?

I hear it everyday… Will this real estate market ever come back? How long is this going to last? Have we hit the bottom yet? Well, the honest answer is, no one knows for sure. If you were to line up ten educated and seasoned real estate analysts, you’d surely get a 50/50 split in the opinions. Some say we’ve already hit bottom, other’s say we won’t see it until Spring 2009. It certainly seems like the newspapers do all they can to keep a negative spin on current conditions! I recently came across this excerpt from the Wall Street Journal, one of the finest of all newspaper publications. For once, a newspaper, more importantly, the WSJ offers a more positive spin which gives homeowners and consumers hope. Read on…

May 16, 2008 (Wall Street Journal) Home construction turned up unexpectedly in April and showed surprising vigor, making the biggest increase in two years, while building permits also rose, a sign of optimism for the sickly housing sector. Housing starts increased 8.2% to a seasonally adjusted 1.032 million annual rate, driven higher by a surge in apartment buildingconstruction, the Commerce Department said. Starts plunged by a revised 13.8% in March to 954,000. Economists expected April starts to drop by 1.4% to a 934,000-unit annual rate.

Written By: Dan Blew, Propertynut.com (with contribution from the Wall Street Journal)

Can I still buy a home with no money down?

Easy answer is yes. FHA has some great options available. With an FHA mortgage you are allowed to have a seller pay all of your closing costs and provide a down payment. You must find a seller that is willing to do this because all of this money comes out of their proceeds. But in a down market sellers are more willing to do this if they are motivated to sell their property. My advice is to find a Realtor this is familiar with FHA financing knowledge to help you work out a no closing cost home purchase.

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The best real estate deal if you are buying a home is Ameridream

If you are a low to moderate income buyer and are looking to buy a new home, then you might want to get a gift of equity to buy your home. AmeriDream is a charitable company who is committed to people being able to buy a home who need down payment and closing cost assistance.

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