Monday, March 22, 2010

Wounded Warrior Project receives over $10,000 from Advanced Charitable Services, presented by Norwell and Plymouth based Advanced Mortgage Services


Advanced Mortgage Services staff presents a generous check to Wounded Warriors on behalf of Advanced Charitable Services, Inc., a non-profit organization to promote and raise funds for worthy charitable causes. The over $10,000 donation that will benefit wounded Iraq and Afghanistan veterans was raised via a golf tournament. Advanced Mortgage Services staff volunteered their time and efforts to manage the tournament.



(Left to right) Included in the presentation are Advanced Mortgage staffers Brian Comer, Trish Foley, Linda Perry of Wounded Warriors, Jim “Wojo” Wojciechowski, Larry Corcoran, Sheree Kent, Andrew Van Dyk, Stacey Jordan and Carol Curran.

Wounded Warriors Project, a national organization that helps wounded veterans of the Iraq and Afghanistan engagements, received a financial boost via a check for $10,500 from Advanced Charitable Services based in Norwell, MA.

The sizable donation was raised via a golf tournament recently held at Southers Marsh Golf Club, Plymouth. More than 85 golfers participated in the fund-raiser which included a round of golf, dinner, awards and auction.

“We are delighted to help out the veterans who paid a high price for our freedom,” noted Brian Comer, President of Advanced Mortgage Services. He added, “The spirit and the success of this initial event have inspired us to make it an annual outing and fund-raiser for this great cause.”

Michele Comer, Senior Vice President of Advanced Mortgage Services based in Norwell and Plymouth, Mass., formed Advanced Charitable Services, Inc., a non-profit organization to promote and raise funds for worthy charitable causes.

Linda Perry, Area Outreach Coordinator for the Wounded Warrior Project, was on hand to accept the check and noted, "This kind of contribution and community effort help raise the spirits of our wounded Iraq and Afghanistan vets, as well as help to fund the programs and services that the Wounded Warrior Project offers to help them to rehabilitate and assimilate back into the civilian world."

Wounded Warriors offers a range of programs, services and events designed for an individual’s needs beyond a vet’s hospital stay. Services range from combat stress recovery, peer mentoring, family caregiving, benefits counseling, advocacy, disabled sports programs, and backpacks stocked with necessary items for vets as they are discharged from a medical facility.

The mission of the Wounded Warrior Project is to honor and empower wounded warriors. Its purpose is to raise awareness and to enlist the public’s aid for the needs of severely injured service members, to help severely injured men and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. WWP is a national, apolitical organization headquartered in Jacksonville, FL.

The next golf tournament/fund-raiser for Wounded Warriors is scheduled for this summer. To participate, contact Stacey Jordan, (800) 337-4660.

Tuesday, March 16, 2010

HUD’s little known 203(k) Mortgage Program expands options for homeownership

DATELINE: NORWELL and PLYMOUTH, MA…
A fixer-upper or handyman special may be all you can afford but how can you get a mortgage on a house that needs work? It’s a catch-22 situation that vexes potential homebuyers eager to become a homeowner in today’s buyer’s market.

“Many potential homeowners aren’t even aware of the existence of HUD 203 (k) loans that are specifically designed to meet the challenge of financing the purchase of a home that needs rehabilitation,” explains Brian Comer, President of Norwell and Plymouth based Advanced Mortgage Services. “The 203 (k) program eliminates the need to take out multiple loans to fix up a property. Rather than taking out a short term loan to buy the property, and another short term loan to cover the costs of repairs and improvements, and a third loan to obtain permanent financing to cover the first 2 loans, the 203 (k) program allows the borrower to take out one loan to cover both the purchase and rehabilitation costs.”

According to HUD (The US Department of Housing and Urban Development) guidelines, the 203(k) loan process includes the following steps:
* A potential homebuyer locates a fixer-upper and signs a contract contingent on 203 (k) loan approval
* Working with an FHA-approved 203(k) lender, the homebuyer arranges for a detailed proposal showing the scope and cost of the work that needs to be done
* An appraisal is done to determine the value of the property after renovation
* If the homebuyer meets the lender’s credit criteria, the loan will be issued for an amount covering the cost of the property, remodeling costs, closing costs and a contingency reserve.
* At the closing the seller is paid and the remaining funds are escrowed to pay for repairs and improvements.
* Work begins after the loan closes
* Escrowed funds are released during the construction period to pay for repairs as they are completed
* 10% of each payment for repairs is held back until the lender determines their will be no liens on the property after rehabilitation is complete

Advanced Mortgage Services is an approved HUD 203 (k) lender. For further information about this government insured mortgage program please call 781-659-6555, 508-747-9520, or 888-665-6345, or visit www.ams-loan.com.