NACA (Neighborhood Assistance Corporation of America) is coming this weekend, Oct. 2-5, to the Phoenix Convention Center. This is a HUD-certified, non-profit counseling agency that is doing a nationwide tour called “Save the Dream” to help people work with their mortgage servicer to modify their loan.

NACA started in 1988 with the goal of providing and assisting with affordable homeownership. These community advocates offer their services free of charge and will aggressively seek help for people experiencing a hardship.

Many of the major loan servicers will be attending “Save the Dream” with the goal of offering same-day loan modifications. Similar events have already been held in Cleveland, Chicago, St. Louis and Atlanta, and NACA claims they have helped thousands of homeowners permanently reduce their interest rates.

If you or someone you know is currently struggling with mortgage payments due to today’s economy, NACA may be able to help. If you are interested in attending “Save the Dream,” register at the NACA website – www.naca.com.

Kristi Miller is the Mortgage Loan Specialist for Arizona Central Credit Union, where she has worked since 2006. She’s an Arizona native.

Thanks in part to the $8,000 first-time homebuyer tax credit, and in part to super-low mortgage rates, first-timers bought more than half the homes purchased so far in 2009. (Source: Home & Family Finance Resource Center.)

And don’t forget, the IRS defines first-time buyers as “taxpayers who have not owned another principal residence at any time during the three years prior to the date of purchase.” So, if you were a homeowner in a past life, you may still qualify for the credit.

Also, I don’t suggest making an offer on short sales at this time. If you’re not already in a contract for a short sale, I suggest not looking at them now. They can take up to 3 months just to get the approval from the bank, which puts you at mid-November, and then you’re in the middle of trying to close with millions of others by the end of the month with Thanksgiving interrupting everything.

Remember, the tax credit isn’t for those who tried to close by November 30; you have to be closed on or before November 30. There’s talk in Congress about extending the date, but don’t count on it. Check with your accountant or tax adviser to make sure you qualify for the credit, then call your realtor and start looking. There’s no time to loose!

Chris Campbell is a Realtor and Phoenix native serving the entire Phoenix metropolitan area. He also specializes in urban real estate and makes his home in downtown Phoenix. To contact Chris, please visit his website at www.PhoenixAZUrban.com.

It’s July in Arizona! Besides being hot, it’s clear that this year everyone is trying to spend money wisely. GetAZmoving and Homeminders are pleased to provide a free subscription to Homeminders (a $58 value) along with these four tips to save money and make your home safer for your family.

Air Conditioning – Change your filters!
Your A/C system can’t run efficiently if it doesn’t have proper air flow. An old, dirty filter reduces the effectiveness of your system – air-flow is reduced and stress is placed on your system, which will shorten its life. With cooling costs over $200 per month for the average Phoenix home and a new HVAC system running over $5,000, you can really save money with this simple task. In Arizona, you should change your filters every 30 days during the hot season.

Bonus: a clean air filter (especially the HEPA filters) can improve the air quality for you and your family – which should make you breathe easier!

Air Conditioning – Programmable thermostats
Thermostat technology has improved – both in the accuracy of the temperature reading and the introduction of scheduled timers that let you automatically raise the temperature if you’re going to be away for more than eight hours. You can even alter the temperature during the night – as your body temperature cools while you sleep, you may not need to cool the house to the same temperature – and still feel comfortable. Check the EnergyStar® website and your local hardware store. Installation is easy and for less than $50, you may save over $100 this year.

Water heater – Flush away the sediment at the bottom of your system!
Arizona is infamous for the hard water that flows through our pipes. Many homeowners opt for a water softener to reduce mineral buildup, but even if you have a water treatment system, you should drain your water heater at least once per year (two times per year is better). The elements that heat your water can become caked (or even submerged) in sediment. Draining the water on a periodic basis will improve the efficiency of your heater and extend its useful life. Don’t forget to look for leaks or corrosion (early signs that a leak may be imminent) while you’re flushing the system.

Homeminders experts weigh in on the benefits of draining your water heater.

Roof – Check yours before (and after) the Monsoons hit
While our homes don’t go through the extreme cold temperatures other areas of the country experience, our sun and monsoon winds can wreak havoc and loosen or blow away shingles and tiles. Before and after each storm, survey your home (from the ground – use binoculars) to see if any damage has occurred. Only if you have the proper equipment and physical capabilities should you climb on your roof. If anything seems amiss, be sure to have repairs completed immediately. With the heavy rain our monsoons can bring, even a small leak can cause significant internal damage and even ruin your personal belongings. While insurance may cover repairs, your deductible may still drain thousands of dollars from your wallet, and you don’t need the frustration of going through major repairs.

Sign-up now for Homeminders and save even more time and money with getAZmoving’s FREE offer.
Homeminders is a web-service that helps you save time and money while making your home a safer place. Ethix Media, LLC., makers of Homeminders (a Scottsdale based company) is excited to partner with getAZmoving.org to offer a FREE two-year subscription to all getAZmoving readers (a $58 value). No credit card is required and it only takes two minutes to register. This offer can be redeemed through September 7, 2009 using promo code: getazmoving at www.homeminders.com/getazmoving.

Jack Cleeves launched Homeminders in 2005. He also has vast experience in residential and commercial construction and home maintenance industries.

In a nutshell, the buyer has to qualify, the property to be purchased has to qualify, and the purchase contract must contain certain items. Below are the bullet points for all three.

For a family to be an eligible buyer they must: (A family for this example can be one or more people, related or not related by blood or marriage. A family will include all persons in a household over the age of 18 even if their name is not on the mortgage or title to the home.)

1. Not earn more than $120% of area median income (AMI).  Please see AMI information below.
2. Families must be FHA creditworthy. These are the standards that will be used to financially qualify buyers. (a) House payment can be no more than 31% of family income, and (b) Family can have no more than 43% debt to income ratio.
3. Families must complete an eight hour NSP-required Homeownership Education & Credit Assessment counseling.
4. Families must maintain the property as their principal residence.
5. Families cannot own any other real estate.
6. Families cannot have their mortgage co-signed; they must qualify on their own.
7. Families must qualify for a 30-year fixed mortgage.
8. Families must invest $1,000 of their own money.
9. There is no limit on the amount of savings families can have.
10. Families DO NOT have to be first time homebuyers.

For a property to be eligible it must:

1. Be located in the City of Phoenix.
2. Have been foreclosed on and the title must not be in the former owner’ name.
3. Be appraised for the purchase price.
4. Seller must agree to a sales price of 15% less than appraised value.

Purchase contracts must have in it:

1. Sales price that is 15% below appraised value.
2. Property must be clear of the City’s top eight neighborhood code violations. See Phoenix Neighborhood Code Violations.
3. Pass inspection according to HUD Housing Quality Standards (HQS).
4. Signed Lead Based Paint disclosure from seller if property was built before 1978.
5. Home warranty for 3 years not to exceed $1,500.

While the NSP program applies to properties in the City of Phoenix, other Arizona cities and counties may have similar programs since federal dollars were distributed to local governments throughout the state. Check with the housing resources in your area to see what programs may be available.

AMI is the total gross income (including Social Security, child support, workman’s comp, etc.) of all residents of a single household over the age of 18 even if one or more of those people are not on the loan or the title of the home. 1 person household – $53,950; 2 person household – $61,650.  This chart goes to 8 persons; please contact me for that information.

Chris Campbell is a Realtor and Phoenix native serving the entire Phoenix metropolitan area. He also specializes in urban real estate and makes his home in downtown Phoenix. To contact Chris, please visit his website at www.PhoenixAZUrban.com.