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Official Teacher Next Door Blog
(www.TeacherNextDoor.Info)

Recent Post:

New Teacher Next Door Grants Available in Seven States
New Teacher Next Door Grants in Arizona
Short Sale vs. Regular Sale
See the Technology Behind Teacher Next Door
Teacher Next Door welcomes Albie Anderman as Arizona Director of Lending

New Teacher Next Door Grants Available in Seven States 
Tuesday, October 29, 2013 8:49 AM

Teacher Next Door is pleased to announce a new Teacher Next Door Direct Grant Program now available in the following states: Arizona, California, Colorado, Idaho, Texas, Utah and Washington State.  This program may be used in addition to any other Government Grant programs we offer.  These NON-repayable grants range fro $1,000.00 to $3,400.00.  All teachers in these states will qualify for a minimum $1,000.00 grant to be applied towards your down payment and closing cost.  To learn more about this teacher housing grant opportunity, click on your state's link: ARIZONA   CALIFORNIA   COLORADO   IDAHO   TEXAS   UTAH   WASHINGTON STATE

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New Teacher Next Door Grants in Arizona
September, 25th 9:44 AM

Teacher Next Door is pleased to announce a new Teacher Next Door Direct Grant Program now available in the State of Arizona.  This is a pilot program and may be used in addition to any other Government Grant programs we offer.  These NON-repayable grants range fro $1,000.00 to $3,400.00.  All Arizona teachers will qualify for a minimum $1,000.00 grant to be applied towards your down payment and closing cost.  To learn more about this teacher housing grant opportunity, CLICK HERE or visit the Arizona Grant page at www.teachernextdoor.us.

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Short Sale vs. Regular Sale
July 2nd, 2013 1:06 PM

Nowadays most everyone has heard the term short sale. Prior to 2006 it was pretty much considered an “industry term” and represented less than 1% of all homes sold in the U.S. Back then it was usually the result of a buyer having to sell within the first year of purchase. Today, in some markets, short sales represent over half of all the homes listed.

So what is a short sale? Simply stated, a short sale is when the bank allows the seller to pay off the existing mortgage for less than what is owed. There are advantages and disadvantages for both the buyer and seller. The good news is there won’t be a test on any of this at the end of the blog.

When a seller has negative equity or owes more than the home is worth, they may benefit from a short sale for several reasons. First, it allows them to sell the house without having to bring cash to the closing or owe any additional money to the lender. Second, if the seller can’t afford the mortgage payments, it may keep them from foreclosure. Lastly, it allows them to price the home at today’s market value; otherwise it would never sell if it had to be priced high enough to pay off the current mortgage.

It is absolutely imperative that sellers receive proper professional and legal advice when completing a short sale. Among other things, they will need to be sure the lender is actually forgiving the remaining balance and not just releasing the title and also know the tax implications of the forgiven debt.

Buyer’s all want to know if a short sales is a good deal. If you love the home, then yes it’s a good deal. However in most cases, even if the bank is discounting over $100,000.00 of the seller’s debt, they are not going to accept a price less than the current market value. So in reality, the short sale is not saving you a significant amount of money.

The biggest draw-back to purchasing a short sale is the amount of time it takes to get the seller’s bank to approve the short sale. In a regular sale, the seller will usually accept the offer within a few days and you can expect to close 30 to 45 days later. With short sales, the bank can take over 30 days just to approve the sale and in some cases could even take up to 90 days. Then you begin the 30-45 day closing process. What’s worse, if the bank takes 90 days and doesn’t accept the short sale offer, you could have to choose another home and start all over.

You may have to include short sales in your search just because they represent such a large percentage of the homes available. What we usually recommend is three separate lists. Look first at regular listings, then HUD or bank owned foreclosures, then short sales. You can get a good deal on a foreclosure or short sale but the home buying process is definitely easier and quicker with a regular listing.

The experts at Teacher Next Door will be happy to help guide you through the pre-approval and home buying process, including distinguishing between the different types of home listings.

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See the Technology Behind Teacher Next Door
June 25th, 2013 9:25 AM

In our ongoing commitment to providing this outstanding benefit program for teachers and Veterans all across our great nation, Teacher Next Door is pleased to announce our renewal this week, with technology giant A La Mode, Inc.

Through this state of the art network, along with our highly trained staff, we are able to provide a seamless home buying experience.

Say hello to our Network Operations Centers (NOCs) in Oklahoma City. Redundancy, fault tolerance, security, and disaster recovery are built into every part of our network architecture.

One of the NOCs at the entrance to our Oklahoma City Operations Center protected behind safety glass in an access-controlled, climate-controlled enclosure.

This NOC houses more than 300 servers, with a fully-redundant, real-time backup NOC in our Salt Lake City Cloud Development Center.

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Teacher Next Door welcomes Albie Anderman
as Arizona Director of Lending.
April 1st, 2013 2:17PM

Teacher Next Door welcomes Albie Anderman as the new Arizona Director of Lending. He and his staff will continue to offer the latest and best mortgage loan products available to teachers, Veterans and their families throughout the State of Arizona.

Albie has been involved in Arizona Real Estate for over 20 years, both on the mortgage side and as a licensed Realtor. He grew up in Orange County California, went to Mater Dei High School, and a football scholarship took him to the Midwest, playing for Miami of Ohio where he earned his Bachelor degree. After Graduating college, he moved to Arizona, traded in his surf board for a wake board and fell in love with the desert. Albie and his wife Mari have four beautiful children who keep their life nice and crazy.

Albie has an in depth knowledge of Government and conforming loans including FHA, VA, Fannie Mae and any special National and local programs that are available for teachers.

Because Albie has been successful in both industries he has a unique understanding of the home purchasing process from all sides; as a buyer, a seller, a listing agent, a selling agent and as the Mortgage Loan officer. There are many moving parts to any transaction, to be very successful it helps to have walked in the shoes of all parties involved.

Welcome Albie!

Looking for a home in Arizona?  CLICK HERE

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