Welcome!

I am an Atlanta native and made the decision in 2007 to leave my job as an architect/urban planner to get my real estate license. This was a difficult decision but has been great since my very first day in my new career and I am really enjoying it! It is so rewarding helping people find that perfect home, and it allows me to continue to satiate my love of good architecture and great neighborhoods!

I attended Georgia Tech (GO JACKETS!!!!) which is where I met my husband. For almost a decade we lived in one of Atlanta's fabulous in-town neighborhoods in a great 1920's Craftsman bungalow with our two dogs and two cats. Following the birth of our first child, we bought a foreclosure in the west Buckhead area and fully renovated it using an FHA 203k loan, which was a fun and sometimes daunting process. And just prior to the birth of our second child, we purchased and renovated a home in downtown Historic Roswell, completing our personal tour of some of Atlanta's best neighborhoods to live in!

I decided to create this blog in order to share useful information and resources about the real estate market and home buying process, as well as hopefully bring some humor and levity to what is often a complex and intimidating process. Enjoy!!!

Wednesday, April 21, 2010

Home Purchase Still Possible with a Foreclosure on Your Record

With the record numbers of foreclosures that have happened (and continue to happen), there are thousands of people who do not think home ownership is an option for them again anytime soon. The reason that many people who have a foreclosure on their record do not become repeat home buyers is because Fannie Mae guidelines have stated that you must wait at least 4 years before being able to qualify for a mortgage after foreclosure and 2 years after short selling your home.

But that all changed recently with an announcement by Fannie Mae that they would allow someone who had a foreclosure to qualify for a mortgage after only 2 years as long as they have put down 20 percent as a down payment. The change will go into effect for any loan application taken after June 30, 2010 and will be updated in the Fannie Mae desktop underwriter software.

Two years with 20% down. So to anyone who is currently going through foreclosure, save your money for the down payment on your next house, the American Dream is still within reach!
Posted by Alix Nadi at 10:20 AM
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