John Sturgess Joins Hunter Realty Associates, Inc. as Managing Director

To Play Key Role in Company’s National Expansion Plans

Hunter Realty Associates, Inc., a leading hotel investment services firm, today announced that John Sturgess has joined the company as managing director. He will play a pivotal role in the company’s plan to expand nationally.

Previously, Sturgess was corporate senior vice president of development for Carlson Hotels Worldwide. In his role, Sturgess led the team responsible for the overall strategic direction of the development of Carlson’s hotel brands in the Americas, resulting in more than a 220 percent increase in new contracts including doubling the Country Inns & Suites by Carlson portfolio. Prior to Carlson, Sturgess was vice president of development for Prime Hospitality Corp. In that capacity he handled franchise sales, acquisitions and market analysis for AmeriSuites Hotels. Sturgess has held other executive positions throughout his 20 year career in the hotel business, including management positions with Doubletree Hotels Corporation and Richfield Hospitality Services, Inc.

“We have expanded our reach and our sales significantly over the past few years, earning us the Hotel Brokerage Firm of the Year award by Hotel Brokers International (HBI) for the past three years,” said Teague Hunter, CHB, president. “With the opening of our Washington, D.C. office 2½ years ago, we have been servicing the entire Eastern seaboard, but see additional opportunities across the country. John brings a unique, senior-level perspective in hotel development, franchising, operations, management and finance, as well as extraordinary industry relationships that will give us the strength and expertise we need to take the company to the next level.”

Sturgess’ initial responsibilities will be in taking the company national by recruiting and opening new offices in the Midwest, Southwest and Western United States to complement the company’s offices in Atlanta and Washington, D.C., as well as building the company’s client base of hotel real estate buyers and sellers. “John will utilize his national presence and relationships to grow the brokerage and investments business within Hunter while building the company’s national presence,” said Lee Hunter, CHB, chief operating officer. “Our move to grow nationally and bring John on board to lead this effort demonstrates our confidence in the hotel industry during these difficult times because we are here for the long term.”

Teague Hunter will continue to guide the overall vision of the company. Lee Hunter will continue to oversee day-to-day operations of the company, including development of research, marketing packages and broker opinions of value.

“We believe the timing is right to initiate this expansion,” said Bob Hunter. “Transaction activity was off some 80 percent in 2008 as a result of the instability in the credit markets. Our research indicates a significant pent-up demand to both sell and buy hotels, which we expect will accelerate as the year progresses and into 2010 as the credit markets begin to recover. We believe this expansion will allow us to provide our clients with enhanced brokerage and investment advisory services, as the hotel real estate market begins to rebound.”

The firm will continue to focus primarily on the major, upscale and focused-service hotel segments under such branded companies as Hilton and Marriott.

Sturgess holds an MBA (with distinction) from the University of Minnesota and a BA from Southern Methodist University. He is on the advisory board for the Hotel Investment Conference and Midwest Lodging Investment Conference, Hotel & Motel Management Editorial Committee, and is a Membership Committee member for the American Hotel Lodging Association. Sturgess has been quoted by the major hotel, real estate and related industry magazines and has been a speaker, panelist and presenter at the major hotel conferences and universities throughout his career.

About Hunter Realty Associates, Inc.
Hunter Realty Associates, Inc., founded in 1978, has offices in Atlanta, Washington, D.C. and Minneapolis. Along with new offices in Minneapolis, Minn., Hunter’s exclusive focus is hotel brokerage and investment advisory services. For more information or to view current listings, please visit www.hunterhotels.net or contact the firm at 770-916-0300 in Atlanta, 301-215-7507 in Washington, D.C., or 612-850-3433 in Minneapolis.
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Bowen Family Homes Launches Social Media with New Blog

Blog includes community news, corporate news and more

Bowen Family Homes is pleased to announce the launch of its new blog, www.BowenFamilyHomesBlog.com. The blog is at the core of Bowen Family Home’s social media marketing plan that also includes presence on several popular social media outlets such as Twitter, Facebook, Digg, ActiveRain, YouTube and more. Their new corporate website also has been updated to provide easy links to their new blog, as well as, other social media outlets, making these resources easily accessible for their website visitors.

“Today’s home buyers start their search for a new home online. Our goal is to make sure that potential home buyers have several opportunities to learn more about our company, our homes and life at our communities,” said Kelly Kenton Fink, MIRM, Regional Marketing and Internet Director for Bowen Family Homes. “We are working to enhance our Internet marketing efforts with the addition of an effective social media program that will make it easier for us to reach and interact with prospective buyers, co-op realtors and current homeowners.” Bowen Family Homes is pleased to partner with mRELEVANCE, LLC on their social media efforts.

Bowen Family Homes’ blog serves as the centerpiece for all of the builder’s social media marketing. The blog includes information on activities and events at communities and surrounding areas, as well as other news. Bowen Family Homes hopes to provide topics of interest for prospective buyers and their current homeowners, making it incredibly easy to learn more about their latest news and incentives.

Since 1969 the Bowen name has stood for excellence in new home construction and community development. Recognized as the 25th largest privately owned builder in the country by Builder Magazine for 2005, Bowen Family Homes is a dynamic homebuilder with operations in Georgia, Florida and Texas. The Atlanta Business Chronicle ranked Bowen Family Homes 5th among metro Atlanta builders in 2007 and 40th among Atlanta’s Top 100 Private Companies for 2007. Additionally, Bowen Family Homes was named the Georgia Family Business of the Year for medium sized companies by Georgia Trend and the Cox Family Enterprise Center at Kennesaw State University in 2006. Bowen Family Homes was ranked 83rd on the 2007 Professional Builder Giant 400 largest homebuilders in the United States list. These successes have been achieved by simply offering the best new home value in all price ranges. For more information about Bowen Family Homes, please call their Atlanta region headquarters at 678-325-4554 or 1-877- MY BOWEN or visit online at www.bowenfamilyhomes.com.
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Fannie Mae Refinancing Volume Jumps to $41 Billion in February

/PRNewswire-FirstCall/ -- Fannie Mae (NYSE:FNM) announced on Wednesday that the company's refinancing volume jumped to more than $41 billion in February, nearly three times the refinancing volume the company experienced during the month of January and the largest refinancing volume in nearly a year.

"Borrowers are increasingly taking advantage of the low mortgage rates available in the market today," said Tom Lund, Executive Vice President, Single-Family Mortgage Business. "We anticipate that volumes will increase even more as millions of additional homeowners become eligible to refinance under the President's Making Home Affordable plan. Providing broader access to affordable, sustainable mortgages through expanded refinancing opportunities is a critical part of preventing future foreclosures and hastening recovery."

The company also disclosed that more than 100,000 borrowers have accessed its online mailbox to inquire about their eligibility for refinancing under the Obama Administration's refinancing plan, and about 50,000 callers have contacted Fannie Mae's national hotline since the plan was announced. In addition, today the company launched a new online look-up tool on the company's Web site (www.fanniemae.com) that will allow borrowers to quickly determine if they have a Fannie Mae-held mortgage -- a determining factor in whether a borrower is eligible for the program.

Home Affordable Refinance

Fannie Mae launched its Home Affordable Refinance initiative earlier this month as part of the President's Making Home Affordable plan. Key features include:

-- Additional Flexibilities: Most borrowers refinancing an existing
Fannie Mae loan will not be required to buy new or additional mortgage
insurance if the loan at the time of the refinance is more than 80
percent of the home's value. Existing mortgage insurance must be
carried forward to the new loan. In addition, Fannie Mae can
refinance loans up to 105 percent of a home's value with this new
flexibility, so even borrowers who are "underwater" -- who owe more
than their home is worth -- may be able to refinance. This will
expand the number of borrowers able to take advantage of lower
interest rates that reduce monthly payments, or refinance into a more
sustainable mortgage.

-- Streamlined Processing: Beginning April 4, all 1,600 lenders and
29,000 mortgage brokers using Fannie Mae's Desktop Underwriter(R)
platform will be able to process an application to refinance any
existing Fannie Mae loan, allowing for greater lender origination
capacity, more consumer choice and easier refinancing for borrowers.

What Borrowers Need to Know:
-- To qualify, your mortgage loan must be owned by Fannie Mae.
-- You must have a solid payment history on your existing mortgage.
-- The expanded refinance flexibility ends in June 2010.


Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Fannie Mae has a federal charter and operates in America's secondary mortgage market to enhance the liquidity of the mortgage market by providing funds to mortgage bankers and other lenders so that they may lend to home buyers. Our job is to help those who house America.

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30-Year Mortgage Rates Drop Substantially for First Time in Four Weeks

The average 30 year fixed rate in Georgia fell 1.8% to 5.05%.

/PRNewswire/ -- The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for thirty-year mortgages fell for the first time in a month to 5.21 percent, down from 5.28 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com(R). Meanwhile, rates for 15-year fixed mortgages dropped to 4.78 percent, down from 4.82 percent and 5-1 adjustable rate mortgages increased, up to 4.71 percent from 4.64 percent the week prior.

Rates for 30-year fixed purchase mortgages had fallen further on Monday evening, with the average rate on Zillow Mortgage Marketplace at 5.05 percent. For the most current up-to-the-minute rates, visit www.zillow.com/Mortgage_Rates/ .

Thirty-year fixed mortgage rates varied by state. Maryland mortgage rates and New York mortgage rates decreased the most, dropping from 5.38 percent to 5.25 percent in Maryland and from 5.33 percent to 5.21 percent in New York. Georgia mortgage rates (5.05 %) and Texas mortgage rates (5.13%) were the lowest in the country while Ohio mortgage rates (5.38%) were the highest. California mortgage rates were the most requested among all states.

The Zillow Mortgage Rate Monitor is compiled each week using thousands of mortgage rates quoted on Zillow Mortgage Marketplace by mortgage lenders to borrowers who have submitted loan requests. State-level data is gathered for the top 20 states with the highest quote volume on Zillow.

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Atlanta Active Adult Builder Diversifies in Tough Economic Times

Jim Chapman Communities, Inc. Announces Jim Chapman Construction Services, LLC

Leading Atlanta active adult builder Jim Chapman Communities, Inc. announces the launch of Jim Chapman Construction Services, LLC (JCCS), a full-service general contracting firm. The company will assist banks and investors in their completion of foreclosed homes or REO (real estate owned) properties. Due to the current downturn in the housing market in the Atlanta metro area, many builders have been forced into foreclosure to release their assets back to the banks that issued the loans on the properties. Many banks are now finding themselves with multiple properties in an incomplete state. These distressed properties are in dire need of completion or risk permanent devaluation.

As a professional homebuilder still comprised of a strong team of both corporate and field staff, JCCS now offers its homebuilding expertise to certain banking and investor partners. “This is a great opportunity to diversify and to build up our banking and investor relationships. While we are unfortunately experiencing a slowdown in Jim Chapman Communities’ business, we can continue to keep our staff as well as our subcontractors busy through JCCS activities,” says the company’s president, Jim Chapman. To date, JCCS’ largest and most notable clients include SunTrust Bank and Resource Real Estate Partners, LLC.

An Atlanta-based builder and developer, Jim Chapman began building custom homes in Buckhead in 1998. Today, Jim Chapman Communities is an award-winning homebuilding company applying luxury home quality and service standards to active adult communities. Jim Chapman Communities currently builds elegant yet affordable one-level ranch condominiums and detached homes in communities across metro Atlanta including Douglas, Gwinnett, Cobb, Fulton and Forsyth counties. Planning and delivering extraordinary communities designed for the active adult lifestyle, Jim Chapman Communities offers Well-Earned Elegance for today’s active adults. For more information on Jim Chapman Communities, call (770) 319-7474 or visit www.JimChapmanCommunities.com.
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GuildQuality Announces the 2009 Guildmaster Award Winners

94 builders and remodelers receive superior customer service awards

GuildQuality is pleased to announce that 94 companies qualified as 2009 Guildmaster Award winners. The Guildmaster Awards competition recognizes builders and real estate companies in the United States and Canada with a proven history of superior customer service. The full list of winners can be found on the GuildQuality Web site at http://www.guildquality.com/guildmaster/2009/.

The GuildQuality mission is to elevate the stature of the real estate and home building industry to the highest level. This is accomplished through customer satisfaction surveying and reporting and celebrating superlative achievement through the Guildmaster Awards. Guildmaster Award winners have demonstrated their ability to consistently deliver an exceptional customer experience. Winners include builders, remodelers, specialty contractors and developers that share a passion for excellence and focus on delivering an exceptional customer experience.

“Over the last two months, GuildQuality examined more than 8,000 surveys received on behalf of applicants for the 2009 Guildmaster Awards,” said Geoff Graham, President of GuildQuality. “To receive an award, an applicant must have earned the recommendation of at least 90 percent of surveyed customers and have received responses from at least 70 percent of all of an applicant's customers. Congratulations to our 2009 Guildmaster Award winners, thanks for their commitment to quality and best wishes for continued success.”

Three levels of awards were given: Guildmaster, Guildmaster with Distinction, and Guildmaster with Highest Distinction. The three distinctions relate to the response rate received during the surveying: 80 percent or above received “Distinction” and 90 percent or above received “Highest Distinction.”

“Being a Guildmaster is an honor,” said Kent Eberle, President of Sacramento's Eberle Remodeling, a four-time Guildmaster award recipient. “It distinguishes our company from others, since the award recognizes companies who provide top notch customer service, quality work and a seamless process. Unlike many of the awards we have won for various remodeling projects for both design and construction, the GuildQuality Guildmaster awards are directly tied to customer satisfaction with surveys that encompass many aspects of the remodeling process.
“Providing award-winning designs and beautiful, functional projects are always our goals, but knowing that we have satisfied clients and that they would recommend us are our ultimate goals. The GuildQuality surveys provide us with the constant feedback we need to determine how effectively we are meeting our clients needs. The Guildmaster award affirms that we are providing our clients with excellent service.”

Brad Harbin, Vice President of Yorktown, Va.-based Wayne Harbin Builder, Inc., was a first-time Guildmaster recipient this year. "Customer service is the foundation of our company, and the surveys conducted through GuildQuality provide third-party validation that our systems and process are serving our customers in the best manner possible. We have always done what we believe to be right by our customers and having that effort confirmed and documented is very valuable. From warranty to sales, a 100 percent customer satisfaction rating requires the shared commitment to excellence in customer service by our entire company, and we are very proud of that."

GuildQuality provides customer satisfaction surveying and performance reporting for quality-minded building, real estate, and home services companies throughout North America. More than 500 Guildmembers rely on GuildQuality to help them deliver an exceptional customer experience. For more information on GuildQuality call 888-355-9223 or visit www.guildquality.com.
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Sales Team from Bullard Named to International Sterling Society

The Penny Henderson Team with Coldwell Banker Bullard Realty’s McDonough/Henry County office has been recognized as an International Sterling Society Team. This prestigious membership was awarded to the top 59 percent of all sales associate teams nationally.

Members of the sales team include Penny Henderson, Don Henderson, Faye Copeland Harvey, and Duffie Edwards.

The Penny Henderson Team’s members were recognized for their achievement at the Coldwell Banker International Business Conference, held March 1 - 4 at the Henry B. Gonzalez Convention Center in San Antonio, Tex. The annual event united thousands of Coldwell Banker sales associates, brokers, managers and employees for an intensive professional development program and awards ceremony.

The oldest and largest real estate company headquartered in the Metro South area of Atlanta, Coldwell Banker Bullard has its headquarters in Jonesboro. The organization now has other offices in McDonough, Jackson, Peachtree City, Newnan, and Conyers, and a separate but affiliated company, Coldwell Banker American Land Mart in Conyers.

The Bullard organization, founded in 1956 by the late Cliff Bullard, worked out a franchise agreement with Coldwell Banker Real Estate Corporation in early 1998 and is the largest Coldwell Banker franchise in Georgia. Current Owner and President Steve Bullard has been with the company for more than 35 years.

Even during a challenging real estate market, the Bullard organization has continued to grow, having added three companies, Coldwell Banker Joe T. Lane Realty, Coldwell Banker Fulton Realty Associates and Century 21 Southern Crescent, through mergers since September of 2007.

Since 1906, the Coldwell Banker organization has been a premier full-service real estate provider. In 2007, Franchise Times magazine's prestigious Top 200 issue ranked the Coldwell Banker system No. 1 in real estate for the eighth straight year and 12th among franchisors in all industries. The Coldwell Banker System has approximately 3,800 residential real estate offices and nearly 117,000 sales associates in 47 countries and territories. The Coldwell Banker System is a leader in the industry in residential and commercial real estate, and in niche markets such as resort, new home and luxury property through its Coldwell Banker Previews International division. It is a pioneer in consumer services with its Coldwell Banker Concierge Service Program and award-winning Web site, www.coldwellbanker.com. Coldwell Banker Real Estate LLC is a subsidiary of Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. Each office is independently owned and operated.
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GaHOC Announces PROJECT PROMISE for Georgia Residents

GaHOC, the Georgia Home Ownership Coalition announced today that it has launched PROJECT PROMISE, an initiative to help reverse the brunt of the housing crisis at the grassroots level. The program puts people first by bridging immediate housing needs with the goals of accessible and affordable home ownership.

With the economy shrinking at levels unprecedented since the 1930’s, the housing sector is reaching for a bottom. Record foreclosures, empty homes, lower values, and increased vandalism are part of the general plight that has befallen many neighborhoods. While great bargains are available to the select few, tightening of credit and qualifying for a mortgage have dashed the dreams of consumers, who otherwise would make the move to home ownership.

PROJECT PROMISE brings together home buyers and sellers into a managed solution that defers a sale for up to two years, or until such time when credit and mortgage requirements have stabilized. During the interim, the parties act in a landlord/tenant relationship, with an underlying agreement. If rent payments are made on time, the seller will pay closing costs and provide a home warranty at the time of sale. Both parties prosper in this partnership.

In recent months, a whole range of applicants have experienced a sharp decline in mortgage approvals. During the same period, inquiries at GaHOC have expressed an overwhelming interest for alternative paths to home ownership. Currently, over 200 families are qualified for PROJECT PROMISE and industry experts expect that number to be in the thousands in Georgia alone.

When throwing money at a problem means government bailouts of large banks and corporations with the taxpayer left holding the bill, it is time for clarity and new thinking from the bottom up. The GaHOC effort is at the community level and focuses on people and a place to call home.

GaHOC provides a free multiple listing service and through its membership, a safety net of various purchase and refinance options in the new economic climate. The group ranks include lenders, mortgage brokers, real estate agents, builders, investors, home owners, and prospective home buyers. For more information about GaHOC, the Georgia Home Ownership Coalition, call 770-509-3200 or visit the website at www.GAHOC.com.
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Enjoy the Best of Nature at Harrison Development’s Sweetwater Cove

Five homesites greatly discounted for one day only in Hiawassee mountain community

Nestled within the beautiful Georgia and North Carolina mountains and along the serene shores of Lake Chatuge lies Harrison Development’s newest community, Sweetwater Cove. Sweetwater Cove features 21 peaceful, wooded homesites ranging in size from three quarters of an acre to just under three acres. Whether looking for a new home, a vacation getaway or a sound investment, Sweetwater Cove is an unbelievable value with homesites affordably priced from $84,900. To celebrate the opening of this gorgeous lakefront community, Harrison Development is offering five select homesites at highly discounted prices for one day only. On Saturday, March 28, 2009, homesites will be discounted up to $50,000, providing incredible savings for those looking for a retirement spot, vacation home, or investment.

Sweetwater Cove is the perfect choice for those looking for a community that combines the best in mountain living with beautiful lakefront property. From the sparkling water of Lake Chatuge to the peaks of the neighboring mountains, homesites at Sweetwater Cove feature breathtaking views of the natural beauty that surrounds the community and provide the ideal setting for either a relaxing retreat or actively enjoying the great outdoors.

An array of community features including fourteen deeded boat slips, waterfront gazebo with sitting area, golf cart trail to the boat slips and day dock access, provide limitless opportunities to relax and enjoy the natural surroundings of the area with family and friends. Residents of Sweetwater Cove can also participate in local activities such as whitewater rafting down the Hiawassee or hiking Georgia’s tallest mountain, Brasstown Bald. Fine dining, shopping and entertainment are abundant in Hiawassee and big city activities are less than two hours away in Chattanooga, Atlanta, Asheville or Greenville.

With unbelievable views and amazing pricing, homesites at Sweetwater Cove will not last long. For those that cannot attend the one day event on March 28, reservations can be made in advance. For more information on this beautiful community, call 888-473 LAKE or visit www.harrisonspotlight.com.
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Freddie Mac Officially Launches REO Rental Initiative for Tenants, Owner-Occupants After Foreclosure

/PRNewswire-FirstCall/ -- Freddie Mac (NYSE:FRE) today announced the official launch of its new REO Rental Initiative giving qualified tenants and former owners the option to lease their recently foreclosed properties on a month-to-month basis. The REO Rental Initiative will be managed by HomeSteps(R), Freddie Mac's national real estate unit, and implemented through several national property management firms.

Freddie Mac also announced it will continue to suspend all eviction actions until April 1 2009 to ensure there is ample time for current occupants to learn about the options available to them under the new initiative.

"Freddie Mac's REO Rental Initiative can help ease a foreclosure's impact by giving renters and former owners more time to determine what options are best for them and their families. At the same time, the REO Rental Initiative helps stabilize property values and local communities by keeping homes occupied and less vulnerable to vandalism," said Ingrid Beckles, Senior Vice President, Default Asset Management at Freddie Mac.

Starting today the property management firms will begin the process of contacting occupants of foreclosed properties to determine their interest in staying in the home and their eligibility for a month-to-month lease. Occupants will be contacted only after the foreclosure gives Freddie Mac the legal authority to offer a lease.

To qualify for a lease, the tenant or former owner must occupy the property and show they have adequate income to pay the monthly rental amount established by the property management company based on market rents for the area in which the home is located. Occupants must agree to allow HomeSteps to show the home to potential buyers as it will be marketed for sale during the lease period.

Additionally the home must be in safe, habitable condition and meet all local codes for rental properties to qualify for the REO Rental Initiative.

If an occupant does not wish to lease the property, Freddie Mac will continue its current practice of offering relocation assistance. In addition, Freddie Mac will also explore available workout options with owner-occupants after Freddie Mac gains title to the property through foreclosure.

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Fannie Mae Undertakes 'Making Home Affordable' Refinancing and Modification Initiatives

/PRNewswire-FirstCall/ -- Fannie Mae (NYSE:FNM) today began making two new initiatives -- Home Affordable Refinance and Home Affordable Modification -- available to its servicers and borrowers as part of the Obama Administration's Making Home Affordable program. The two initiatives are designed to significantly expand the numbers of borrowers who can refinance or modify their mortgages to a payment that is affordable now and into the future.

"Making Home Affordable provides crucial tools to mortgage lenders and homeowners coping with financial hardship and declining home prices," said Herb Allison, president and chief executive officer. "Potentially millions of homeowners could qualify for and benefit from these initiatives. The people of Fannie Mae will do all they can to make the program a success for homeowners across America and to advance the nation's housing recovery."

Home Affordable Refinance

Home Affordable Refinance includes new refinancing flexibilities for homeowners whose loans are owned by Fannie Mae. Key features include:

-- Additional Flexibilities: Most borrowers refinancing an existing
Fannie Mae loan will not be required to buy new or additional mortgage
insurance if the loan at the time of the refinance is more than 80
percent of a home's value. Any existing mortgage insurance may be
carried forward to the new loan. In addition, Fannie Mae can refinance
loans up to 105 percent of a home's value with this new flexibility,
so even borrowers who are "underwater" -- who owe more than their home
is worth -- may be able to refinance. This will expand the number of
borrowers able to take advantage of lower interest rates that reduce
monthly payments, or refinance into a more sustainable mortgage.
-- Streamlined Processing: Beginning in April, all 1,600 lenders and
29,000 mortgage brokers using Fannie Mae's Desktop Underwriter(R)
platform will be able to process an application to refinance any
existing Fannie Mae loan, allowing for greater lender origination
capacity and easier refinancing for borrowers.

What Borrowers Need to Know:

-- To qualify, your mortgage loan must be owned by Fannie Mae.
-- You must have a solid payment history on your existing mortgage.
-- The expanded refinance flexibility ends in June 2010.

Home Affordable Modification


Through the Home Affordable Modification, Fannie Mae will work with loan servicers across the country to help distressed borrowers modify their current loan into a mortgage that is more affordable and sustainable. Loan servicers participating in the program may reduce interest rates, lengthen the payment time frame or take other steps, such as principal forbearance, to bring the monthly payments down to as low as 31 percent of the borrower's gross (pre-tax) income.

What Borrowers Need to Know:

-- To modify a loan through Home Affordable Modification, it must be for
your primary residence.
-- You need not wait to become delinquent with your payments -- a plan
can be put in place as soon as you think you may have trouble making
your mortgage payment.
-- The amount you owe on your mortgage must be less than or equal to
$729,750.
-- The program is for mortgages originated prior to January 1, 2009.
-- Certain eligibility requirements, including attesting to a financial
hardship, may apply in some cases.



To ensure borrowers currently at risk of a foreclosure have the opportunity to apply for a Home Affordable Modification, Fannie Mae servicers have been directed not to proceed with a foreclosure until a borrower has been evaluated for the program.

Finding Out if a Loan is Owned by Fannie Mae

Borrowers can find out if their loan is owned by Fannie Mae in one of two ways:

-- Call your current mortgage lender or servicer. The phone number
should be on your monthly mortgage statement or monthly coupon book.
-- Contact Fannie Mae. Call 1-800-7FANNIE (8 a.m. - 8 p.m. ET) or visit
http://www.fanniemae.com/homeaffordable.

Fannie Mae also intends to make an online tool available later this month so borrowers can look up their loan and determine if it is owned by the company.

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Freddie Mac Announces Two Initiatives Supporting President Obama's Making Home Affordable Plan

/PRNewswire-FirstCall/ -- Freddie Mac (NYSE:FRE) today announced two new mortgage initiatives under President Obama's Making Home Affordable plan designed to help families with Freddie Mac-owned mortgages who are delinquent, at-risk of default, or struggling to refinance because of declining property values.

The new initiatives include Freddie Mac's Relief Refinance(SM) Mortgage and the implementation of the Obama Administration's new Home Affordable Modification program.

"We are proud to support President Obama's bold initiative to restore stability and affordability to the housing market," said Freddie Mac Chairman of the Board, John Koskinen. "Today's announcement will give Freddie Mac seller/servicers the tools to refinance borrowers into loans with more affordable terms and provide at-risk borrowers with a potent new loan modification alternative."

Refinance Relief for More Borrowers

The new Freddie Mac Relief Refinance Mortgage is designed to assist borrowers who are current on their mortgage payments but who would benefit from refinancing into mortgages with terms that better position them for long-term homeownership. To qualify, borrowers must have mortgages that are owned or guaranteed by Freddie Mac.

Eligible borrowers can use Relief Refinance Mortgages to improve their position for long term homeownership success by reducing their current mortgage interest rate or shortening the amortization term. Similarly, the Relief Refinance Mortgage can be used to replace an adjustable rate mortgage, an Initial Interest(R) Mortgage or balloon/reset mortgage with a 15-, 20- or 30-year fixed-rate mortgage.

The loan-to-value ratio on Relief Refinance Mortgages can be as high as 105 percent of the property's value. There is no maximum TLTV/HTLTV ratio, however Relief Refinance Mortgages cannot be used to payoff or reduce subordinate liens. What's more, existing liens must continue to be subordinate to the Relief Refinance Mortgages.

To reduce borrower costs and simplify the refinance process Freddie Mac is encouraging lenders to use Home Value Explorer (HVE) when applicable, Freddie Mac's sophisticated automated valuation model. In addition, lenders using HVE will not be required to provide the standard representations and warranties on the property's value, condition and marketability.

Lenders will not have to re-underwrite a borrower if the Relief Refinance Mortgage raises their monthly principal and interest payment by 20 percent or less. But, in cases where the change in monthly principal and interest payment is more than 20 percent, borrowers will be underwritten through a simplified process. to increase their success with the new mortgage.

Mortgage insurance (MI) is not required if the existing mortgage does not require MI. Otherwise, MI coverage on the new loan must be the same as on the original mortgage.

Freddie Mac Relief Refinance Mortgages are only available for a limited time. Seller/Servicers must deliver Relief Refinance Mortgages under contracts taken out on or after April 1, 2009 through the company's on-line selling system. In addition, Relief Refinance Mortgages must be originated by June 10, 2010.

National Modification Effort Launched

Freddie Mac also announced support for the new national Home Affordable Modification program which begins on April 1, 2009 and is designed to help more at-risk borrowers achieve successful homeownership by lowering their monthly payments. To qualify, borrowers must have a Freddie Mac-owned or guaranteed mortgage originated on or before January 1, 2009.

To demonstrate its commitment to the Administration's new initiative, Freddie Mac has directed its servicers to ensure that every possible effort is made to achieve a successful workout for delinquent borrowers through the new Home Affordable Modification program or Freddie Mac's other workout options before initiating a foreclosure.

The new Home Affordable Modification program is expected to further reduce payments to more affordable levels, and in some cases assist eligible homeowners before they fall behind on their mortgage payments.

Last year, Freddie Mac approved more than 87,000 workouts on its seriously delinquent loans and launched the Streamlined Modification Program in November 2008 with Fannie Mae, the Federal Housing Finance Agency, and the HOPE Now Alliance.

Next Steps For Borrowers

Borrowers interested in learning more about the Freddie Mac Relief Refinance Mortgage or the Home Affordable Modification program should contact their mortgage servicer. Borrowers should also contact their servicer to find out if Freddie Mac owns or guarantees their mortgage.

Freddie Mac also said that depending on the level of borrower response to the Relief Refinance Mortgage program and the new modification initiative and the number of borrowers who qualify for such refinancings and modifications, the impact of resulting prepayments on certain Freddie Mac Mortgage Participation Certificates, or PCs, could be material.

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Hudson & Marshall Launches Community Outreach Program to Attract More Families in Need of Housing to Its Auctions

/PRNewswire/ -- In an effort to help reduce the surplus of vacant homes sitting on the market, Hudson & Marshall developed the Alliance Network Program to attract more buyers and tenants in search of affordable housing to its auctions. The program will be an integral part of Hudson & Marshall's auction of over 300 bank-owned foreclosures in Atlanta on March 13th -15th.

This community outreach initiative leverages relationships with local organizations in cities where H&M conducts auctions not only to expand the number of qualified owner-occupant buyers, particularly first time buyers, looking for discounted homes but also connect investors with tenants in need of homes. Hudson & Marshall first launched the Alliance Network Program in January at its Detroit auction and will offer it in other cities throughout the year.

"The program reflects the company's growing desire to help communities turn around their local housing markets by providing greater access to housing opportunities to people in need of homes," remarked Dave Webb, principal, Hudson & Marshall. "This is a complete housing solution, connecting homebuyers with homes and investors with resources they need to turn their purchases into revenue generating properties," added Webb.

As part of Hudson & Marshall's Atlanta Alliance Network program, the company will encourage investors attending the Atlanta auction, who are in search of tenants, to list their properties with the Atlanta Housing Authority (AHA) database. Through its Quality of Life Initiative (QLI), the AHA no longer places low-income families in conventional public housing projects but instead offers families housing throughout mixed income neighborhoods in Atlanta. As part of the QLI, the Department of Housing and Urban Development (HUD) provides families with Section 8 rental vouchers for up to 80% of a monthly market rate rent, which is paid directly to a landlord.

HomeFree USA will also refer qualified homebuyers and tenants from their program to the Atlanta auction. Since 1995, HomeFree USA has educated over 20,000 families about credit, mortgage financing and homeownership and helped more than 2,400 families purchase homes. Additionally, HomeFree USA has maintained a zero foreclosure rate among its members, due to its unparalleled model for providing pre-purchase counseling and education and post-purchase follow-up.

Other components of Hudson & Marshall's community outreach program in Atlanta include inviting property managers and contractors to the auction as resources for investor buyers who need to make improvements to their properties. Several banks also will be at the auction to offer finance options to prospective buyers and answer questions about home loans.

All the homes being auctioned in Atlanta come with title insurance paid for by the sellers, ensuring there are no back taxes or liens on the property. Buyers will be required to make a $2,500 deposit in the form of a certified check or cash for each property which they are the winning bidder.

Properties are sold "as-is" and buyers should inspect homes prior to auction. Homes may be viewed during the open house scheduled for March 7th and 8th from 1:00 p.m. - 3:00 p.m. or by contacting listing agents for an appointment. Property details and additional information may be found at www.hudsonandmarshall.com or by calling 866-539-4172.

Hudson & Marshall will auction the homes on the following dates:

March 13th - Atlanta (80 homes) at 1:00 p.m. - Atlanta Marriott Northwest
March 14th - Atlanta (139 homes) at 1:00 p.m. - Atlanta Marriott Northwest
March 15th - Atlanta (100 homes) at 1:00 p.m. - Atlanta Marriott Northwest


Prior to auction, buyers can purchase property online by visiting the website and clicking on the Bid-Now icon. Sellers typically respond to offers within 24 hours. This is a reserve auction, which means sellers have the right to accept, reject or counter any bid; however, in past auctions conducted by Hudson & Marshall, the majority of offers have been accepted.

Having sold over 70,000 homes for sellers in the past eight years, Hudson & Marshall of Texas, Inc. is the most experienced, trusted leader in the REO auction industry. The company's accelerated sales process enables it to swiftly and efficiently sell large volumes of property in a way that minimizes expenses for sellers and maximizes return. Over the past five years alone, Hudson & Marshall's total sales have topped $1.2 billion and the company anticipates selling another 30,000 homes through 2009.

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Reverse Mortgages Limits Raised to $625,500

/PRNewswire/ -- Lone Star Reverse Mortgage, a Texas-based reverse mortgage provider, has announced that reverse mortgage loan limits have increased as a result of the American Recovery and Reinvestment Act of 2009 (ARRA) and signed into law by President Obama on February 17, 2009.

"This is very important information and may come as a relief to many senior homeowners who are concerned about their ability to obtain or access cash or credit in the current economic climate. This new limit is significant to senior homeowners who have homes with higher values than previous reverse mortgage programs could accommodate," says Bob Worley, owner of Lone Star Reverse Mortgage.

Under ARRA, the national FHA loan limit for Home Equity Conversion Mortgage (HECM), a federally insured reverse mortgage, will increase from $417,000 to $625,500, effective for the remainder of 2009.

The passage of this program allows senior borrowers with higher value homes the ability to potentially receive much more money to use for whatever purpose they need, including retiring higher existing debt. If you have been unsure about a reverse mortgage because your benefit amount would not pay off enough of your existing debt or if you have already received a reverse mortgage but were limited in the amount of funds you could receive because your home was worth more than the HUD limit, you may now want to consider or reconsider a reverse mortgage. Under these new limits, now more than ever, this may be the right time to look at a reverse mortgage. At the very least, you owe it to yourself to be informed about the opportunities and options available to you.

The new legislation will only make the limits available until the end of 2009 and then it would be up to Congress to vote to extend the increased loan limit. So, sooner rather than later is the time to learn about the new limit and how it may benefit you.

If you have questions, seek the help and counsel of a qualified and experienced reverse mortgage specialist. A reverse mortgage is not the same as a traditional forward mortgage and they require the expertise of someone who specializes in reverse mortgage loans. Only work with individuals who are truly experienced in reverse mortgages and have a successful track record in this specialized industry.

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The Astoria at the Aramore Offers Live, Work and Play

Condominium community in heart of historic Peachtree Battle combines office, retail, services, dining and residential opportunities on vibrant Peachtree Road

Beautiful, classic and sophisticated, The Astoria at The Aramore is reminiscent of an exquisite boutique hotel. This exclusive community is nestled in the living room of Atlanta in a prime location just between the shops of Buckhead and arts and entertainment of Midtown. Unparalleled by any other address on Peachtree, the Astoria is within walking distance to the city's finest cultural and entertainment venues, shops and restaurants. One of Atlanta's finest dining experiences, Restaurant Eugene, can be found in The Aramore retail level. The Aramore also includes Pizza Fusion, Agera and Baccus Fit Spa, Mims dress shop, Starfish Restaurant, Holeman & Finch, H&F Bakery, Addictive Trendz and BB&T.

The picturesque streetscape surrounding the area is rich with the history of Peachtree Battle and Peachtree Hills. These landmark neighborhoods are lined with ancient oaks and dotted with open park areas. The Astoria features 70 exclusive high-rise residences with condominiums priced from the $400,000s and penthouses priced from the $900,000s.

The combined traditional and modern architecture of the building fits into the history of the area and the scale and design of the community. The Astoria caters to the needs of residents with an abundance of amenities for both work and play. The Astoria offers a pool, heated spa, outdoor fireplace in elegant garden setting, private poolside cabanas, poolside summer kitchens and grilling areas, state-of-the-art fitness center overlooking the sundeck, elegant clubroom with full catering kitchen, more than one acre of green space, media room, concierge, private guest suite for out of town guests, and street-level retail and dry cleaning services, all designed to cater to homeowners' individual needs. For more information on The Astoria at The Aramore, call 404-355-6999 or visit www.theastoriacondos.com.

Kairos Development Corporation lives up to its Greek-inspired name, which challenges them to identify crucial moments to perform accurately so they can achieve their goals and meet the needs of all. Driven by the desire to create aesthetically beautiful “Live Life Communities” and facilities that address their clients’ needs and distinctive styles, Kairos (ki-ros) offers a vast array of choices and options in each of its communities. Since entering the industry in the mid 1980s, the company has developed more than $400 million in Atlanta area real estate assets, including residential, retail and office properties. During that time, Kairos Development has received many outstanding awards. Most notable is the 2005 Development of Excellence Award presented by the Atlanta Regional Commission and the Regional Business Coalition for the multi-use urban development and environmental buffer provided by The Aramore on the city’s famous Peachtree Road. Current projects include the Astoria, Avignon at Vinings, Buggy Works and Jefferson Station in East Point. For more information, call 404-350-1440 or visit www.kairosdevelopmentcorp.com.
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