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Wells Fargo CityLIFT Program for Washington DC and PG County

On September 26, 2012 Wells Fargo announced that the companies CityLIFT program would launch in Washington DC and PG County MD on October 5th and 6th.  The Wells Fargo CityLIFT program provides homebuyers that meet certain criteria with $20,000 towards a down payment on a home in Washington DC or Prince Georges County Maryland.  To qualify for the Wells Fargo CityLIFT program in Washington DC and PG County the homeowner must occupy the home as their principal residence.

Here are the qualifications for the CityLIFT program in Washington DC and PG County:

1-Annaul income cannot exceed 120 percent of the median income for the area(Varies depending on family size). 

Income Limits for…

Last evening I met with a homeowner regarding his decision to complete a Prince Georges County Short Sale.   The meeting was initiated by the homeowners lender.  In my experience this setup is rare.  Typically, in these situations it is the borrower(homeowner) who must contact the lender to inform them that they would like to do a short sale.  The fact that the lender has reached out to the borrower to initiate a Prince Georges County short sale shows you the situation that most lenders are faced with.  In the last few years lenders have had to adjust their loss mitigation efforts due to the mistakes they have made when foreclosing on their borrower.  That may all change soon.  Last week 49 state attorneys general came to a settlement with the nation's…