Albuquerque real estate broker Joe Maez is helping New Mexico home buyers get a little extra help buying a home with assistance from the Neighborhood Stabilization Program (NSP) Level 3.
Joe Maez, Top Selling Albuquerque Real Estate Agent
Online PR News – 03-October-2013 –ALBUQUERQUE, N.M. - Albuquerque Realtor/broker Joe Maez is helping New Mexico home buyers get a little extra help buying a home with assistance from the Neighborhood Stabilization Program (NSP) Level 3.
NSP 3 is a product of the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010, which provides resources to buyers to help reduce the over-supply of bank owned home inventory in impacted regions.
According to Maez, this translates into "free money" for buyers of certain Albuquerque real estate in the form of what can be called a "silent second."
"Let's say a buyer qualifies for a $90,000 home, but there is a qualifying property listed at $105,000. NSP 3 assistance means the buyer can get an interest free 20 year loan that is forgiven in full if the property is not sold for 20 years."
He says this is designed to help reduce bank owned inventory in areas hard hit by foreclosures, but also is designed to help the community by incentivizing long term home ownership in the neighborhood.
"Rather than providing a quick solution that allows investors to turn a quick profit and move on, NSP 3 helps the individual homeowner get what amounts to 'free money' with some qualifying factors."
Maez says that he gets a lot of satisfaction from personally helping young families get into their first home with this program.
"As I see it, it's a win-win deal for the banks and the buyers. The banks are not in the business of selling real estate, so they need to get foreclosed homes off their books. At the same time, the thinking goes, if the pool of buyers can be expanded a little, demand might catch up with supply a little better."
Buyers interested in learning about the program in New Mexico can contact Maez at 505-401-5775.
About Joe Maez REALTOR®
Joe Maez is a proven real estate professional who knows how to do things right. Every day he is out there working to make the home-buying or -selling process easier for his clients. Regardless of which way the market has gone, Maez's sales have gone up every year. He says, “If you really do a good job, you’ll always have clients,” and his track record proves it.
Joe, who has personally sold more than 500 homes in Rio Rancho and Albuquerque, has unique and extensive knowledge of the local markets. He works regularly in the Albuquerque New Mexico market, covering Rio Rancho, Corrales, and Los Lunas Real Estate.
For more information, contact:
Joe Maez REALTOR®
Keller Williams Realty Westside
8100 Wyoming Blvd NE
Albuquerque, NM 87113