December 2014

2015 HOME/Housing Credit Allocation Plans Finalized

The AHFA Board of Directors approved the 2015 HOME/Housing Credit allocation plans during its December 16 meeting.

The plans are available at www.AHFA.com.

2015 Expected to be the Year of the First-Time Homebuyer

Predictions for the 2015 housing market are optimistic and forecast a resurgence of first-time buyers.

If you are one of those first-time buyers, AHFA can help with affordable rates and entry cost assistance.

AHFA is currently offering mortgage loans with down payment assistance, no private mortgage insurance costs and a fixed interest rate for 30 years. Applicants must earn less than $97,300 and meet standards for creditworthiness.

Potential homebuyers can contact their local lender to apply.

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Alabama Residential Sales through November up 3%; 60% of Local Markets Experience Year-Over-Year Sales Gain

Alabama residential sales totaled 3,072 units in November, virtually matching the volume from the same period a year earlier and 194 units below the Alabama Center for Real Estate's (ACRE's) monthly forecast.

Alabama home sales for November 2014
totaled 3,072 units, an increase of one
transaction when compared to the 3,071
homes sold in November 2013.

While the increase from November 2013 was by one unit, November 2014 represents the fifth consecutive month that sales have eclipsed the previous year's pace.

Nationally, November sales were 2.1 percent above the same period last year.

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Need Help Paying Your Mortgage? We Can Help.

There is help for homeowners that are struggling with, or at risk of, mortgage delinquency and foreclosure.

Hardest Hit Alabama offers several programs to meet the needs of unemployed Alabama homeowners facing financial hardships.

HHA offers programs including mortgage payment assistance for unemployed homeowners, as well as loan modification and short sale options for borrowers facing financial hardships.

HHA assistance is available statewide to qualified homeowners on a first-come, first-served basis.

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January Holidays

The AHFA offices will be closed on Monday, January 19 in observance of the King/Lee holiday. Please make a note of this date.