There’s a forgotten government program passed by President Obama to help the middle class Americans reduce their monthly payments by as much as $3,500 each year. It's hard to believe the Home Affordable Refinance Program® (HARP) exists but it has already helped more than 3.3 million U.S. households to refinance. For whatever reason, a lot of people think this program is "too good to be true". Even worse, some think the program is only for homeowners with bad credit or foreclosures. This couldn't be farther from the truth. HARP was made for the average American. And having good credit helps you qualify for EVEN better rates!

But the government has announced that this program will expire in September 2017 and is making a final push urging homeowners to take advantage of this program.

See if you meet these basic HARP eligibility requirements:

• You are current on your mortgage, with no 30-day+ late payments in the last six months and no more than one in the past 12 months
• Your home is your primary residence, a 1-unit second home or a 1- to 4-unit investment property.
• Your loan is owned by Freddie Mac or Fannie Mae. You can use the Loan Look-up Tools below if you are unsure.
• Your loan was originated on or before May 31, 2009. By using the loan look-up tools below, this date will be made available to you.
• Your current loan-to-value (LTV) ratio must be greater than 80%. Calculate your LTV ratio with this tool.

Is your mortgage owned by Fannie Mae or Freddie Mac?

Use their online tools to quickly find out, or call them toll-free:

Fannie Mae
Loan Look-up Tool:
Call: 800-7FANNIE (8 am to 8 pm ET)

Freddie Mac
Loan Look-up Tool:
Call: 800-FREDDIE (8 am to 8 pm ET)

Without proper preparation, many buyers get lulled into the mistaken notion that if a lender pre-qualifies them for a mortgage this means that they have been pre-approved for a home loan. Unfortunately, there's a world of difference between these two terms. If you've ever been confused by the two, we'll bring you up to speed on how these terms differ – and why a misunderstanding can mean disaster for borrowers.

What Does it Means To Be Pre-Qualified?
Getting pre-qualified is the initial step in the mortgage process, and it's generally fairly simple. You supply a bank or lender with your overall financial picture, including your debt, income and assets. After evaluating this information, a lender can give you an idea of the mortgage amount for which you qualify. Pre-qualification can be done over the phone or on the internet, and there is usually no cost involved. Loan pre-qualification does not include an analysis of your credit report or an in-depth look at your ability to purchase a home.

The initial pre-qualification step allows you to discuss any goals or needs you may have regarding your mortgage with your lender. At this point, a lender can explain your various mortgage options and recommend the type that might be best suited to your situation.

Because it's a quick procedure – and based only on the information you provide to the lender – your pre-qualified amount is not a sure thing; it's just the amount for which you might expect to be approved. For this reason, being a pre-qualified buyer doesn't carry the same weight as being a pre-approved buyer who has been more thoroughly investigated.

What Does It Means To Be Pre-Approved
Getting pre-approved is the next step, and it tends to be much more involved. You'll complete an official mortgage application (and usually pay an application fee), then supply the lender with the necessary documentation to perform an extensive check on your financial background and current credit rating. (Typically at this stage, you will not have found a house yet, so any reference to "property" on the application will be left blank). From this, the lender can tell you the specific mortgage amount for which you are approved. You'll also have a better idea of the interest rate you will be charged on the loan and, in some cases, you might be able to lock in a specific rate.

With pre-approval, you will receive a conditional commitment in writing for an exact loan amount, allowing you to look for a home at or below that price level. Obviously, this puts you at an advantage when dealing with a potential seller, as he or she will know you're one step closer to obtaining an actual mortgage.

The other advantage of completing both of these steps – pre-qualification and pre-approval – before you start to look for a home is that you'll know in advance how much you can afford. This way, you don't waste time with guessing or looking at properties that are beyond your means. Getting pre-approved for a mortgage also enables you to move quickly when you find the perfect place. When you make an offer, it won't be contingent on obtaining financing, which can save you valuable time. In a competitive market, this lets the seller know that your offer is serious – and could prevent you from losing the home to another potential buyer who already has financing arranged.

As a real estate agent, I have an obligation to my clients to do everything I can to smooth the process of selling their home. I am their advocate, the professional they are turning to for help. Most people want an agent they can not only trust but will do all they can to get the most money for their home in the least amount of time with the fewest headaches along the way.

By understanding the most important tasks a Realtor should be doing, you will be better equipped to make a smart decision as to who to work with.  Here are the top 8 things your Real Estate Agent should do for you.

1. Price The Home Correctly.
Pricing a home properly is bar none the most important thing a Realtor can do for you. Exceptional Real Estate agents avoid giving in to the desire to say what will make sellers happy just to attract business. Top notch Real Estate agents will price each home using their training, understanding of the market and comparable sales.

Understanding how to price a home is one of an agent’s most valuable skills. Smart sellers should be looking for agents who sell homes for close to the original listing price. The best Real Estate agents have a reputation for pricing homes accurately and not telling a seller what they want to hear to get a listing. This is one of the lowest things a Real Estate agent can do and violates the code of ethics we are supposed to follow.

As a seller, you should be aware that pricing a home too high can cause major issues in the sale. Buyers may avoid it, and if they avoid the home long enough, it will develop a bad reputation. Eventually, you will be forced to drop the price to be competitive in the marketplace.

2. Agressively Market The Property.
Marketing is one area where your Real Estate agent should shine. Your agent should be taking great pictures of the property. The photography on your home is absolutely one of essential elements in selling homes today. The internet will be where most home buyers will discover your home. If your homes pictures are lousy, you will lose out on a significant amount of prospective buyers.

Your Real Estate agent should be well versed on how to get the word out using all available marketing channels, not just the Multiple Listing Service (MLS), Trulia and Zillow. They should also be using social media, like Facebook, Google+ and other platforms, to spread the word.

3. Communicate Properly.
A seller needs to know what is going on with the sale of their home. Too many Real Estate agents get a client and then only check back in when they get an offer. Real Estate agents should regularly update their customers on the feedback from showings and about anything else that may concern them. Even if there are no offers, keeping in touch lets a seller know that you are doing something – and worth paying for.

4. Make Sure The Buyer is Qualified.
Anybody can say they are interested in buying a house. Not everyone can get pre-approval for a home loan, though. A good listing agent will make sure that buyers are pre-approved – not just pre-qualified. There is a big difference between mortgage pre-qualification and pre-approval. Pre-qualification does not include an analysis of the buyer’s credit report, verify income, or employment, which will be key factors in whether they can get a mortgage.

A pre-qualification in most instances is not worth the paper it is written on. You want buyers who have already submitted all information, including a credit report, and been given the go-ahead for a loan. As long as nothing changes with their financial situation or their credit, they should be able to get approval and buy your client’s home.

5. Negotiate The Best Terms.
The best agents will go out of their way to fight hard for the best terms and conditions for their clients. This, after all, is what they are paid to do. A great Real Estate agent will never think about their pocket book but what makes the most sense for their client.  You should hire an agent who isn’t worried about when their next sale takes place, you will get much better advice.

Real Estate agents who advocate for their clients are always striving for the best possible terms for the transaction. Everything in Real Estate contracts is negotiable, good agents when warranted don’t hesitate to counteroffer with a price that is more favorable to their client. They have the negotiation skills necessary to get the job done right.

If a client wants adjustments to contingency dates or closing times, these should be negotiated appropriately. A good agent will understand the real value of each element to the customer. Pushing to get clients everything they possibly can is what the best of the best does on a regular basis.

6. Attend The Home Inspection to Represent The Seller.
A seller client may or may not expect a Real Estate to attend the home inspection, but they should do it regardless. By being there for the inspection, the agent gets to hear all the feedback from the inspector first-hand.

Your agent can keep track of everything that is said and keep things in perspective should the buyer ask for concessions based on the inspection. Some requests may be reasonable. Others may not. When a sellers agent is there and can see everything in person, they can protect a seller from unreasonable requests.

7. Attend The Home Appraisal.
A good real estate agent will attend the home appraisal, so they can answer the questions the appraiser has and make sure they understand the facts about the home. Appraisers may need feedback from someone who knows the house to do their job. Your Real Estate agent should be there to help clarify any confusion. In many instances, your Realtor will be the best qualified to answer an appraiser’s questions.

For example, the appraiser could be looking for all the recent updates, among other things, that have been made in the home. Major updates are certainly something that can influence the value of your home. This something the agent should be there to point out. Updates are the kind of thing that can have a significant bearing on the outcome of the appraisal.

8. Finalize Loose Ends For Closing.
Finalize Loose Ends For Real Estate Closing Selling a house involves a lot of work. There are so many little details that must be taken care of, which is one of the big selling points for the agent’s services. As the closing draws near, you will need to take care of all the loose ends for your client. Taking care of the smoke & carbon monoxide detector certificate, final water/sewer readings and any other issues is part of the package you real estate agent should offer – or at least it should be.

Selling a home can be very stressful, but when you have a top shelf agent in your corner who is taking care of the little details, the burden can be eased just a bit. Hopefully, you the Home Seller, understand the things to expect from your real estate agent when selling a home. 

Do share with our readers any experience you have had with realtors and any comments you might have.

Low inventory in many markets combined with higher prices and rising interest rates can make buying a home challenging, but not impossible.

Blooming flowers and warmer temperatures don’t just mark the start of allergy season. Spring is also peak season for real estate sales. If you’re thinking of buying a home this year, you’re probably wondering what the current market is like and how to navigate it. The 2017 spring real estate season differs from past spring markets in some big ways. Here’s what you need to know, whether you’re shopping in Fort Lauderdale, FL, or Rosedale, NY.

1. Inventory is low

Home inventory has dropped for eight consecutive quarters, making it harder to find a home, according to Trulia’s research. “In 2017, homebuyers are up against a very competitive market, where there are fewer homes for sale that cost more than they did last year,” says Trulia Senior Economist Cheryl Young. “The Trulia Inventory and Price Watch found that housing inventory hit its lowest level on record, having fallen by 5.1% from a year ago.”

Hit hardest? First-time homebuyers. There’s a larger inventory of trade-up homes and luxury homes than starter homes. As prices rise, people who might have been looking for a luxury home may now be in the trade-up market. Those who would have been in the trade-up market are buying starter homes or hanging on to the homes they already have. This means first-time buyers have to put in extra effort to land a home.

2. Homes are selling fast

Understanding the current real estate market can keep you from being blindsided. “Short supply is the dominant issue this spring,” says Arthur Briscoe, a Roaedale, New York, Real Estate Broker. “Homes that are priced at market value and are in attractive condition sell in days.” Act quickly when you find something you like, and be flexible with seller requests, Arthur — two tactics that can help you buy a home in a competitive market.

3. Interest rates are rising

Rising interest rates could price some buyers out of the market. The Federal Reserve announced in March that interest rates would be increased by a quarter point based on the growing confidence on the economy. It is important to note that President Trump wants to keep interest rates low.

4. Timing is everything

The hardest part of buying a starter home is saving the down payment. Once you have that in place, there are great options. But should you wait to save 20% for a down payment (to avoid private mortgage insurance, or PMI), or should you buy now with only, say, 5% to put down in case interest rates rise?  In most cases, it becomes more expensive to wait. If it’s going to take you two years to save 20% and prices and rates rise, it’ll usually be better to go ahead at 5% and pay PMI.

But don’t feel as if you have to rush to beat the interest rate clock if you’re not quite ready to buy since we have a long way to go before interest rates reach a level that puts prospective buyers out of the market.

5. Consumer confidence is high

Rising interest rates signal a strong economy, and consumers, with renewed confidence in this strongest job market in 15 years, are buying homes. This is what most people call a comeback. People who found themselves underwater on their homes are now starting to see those homes gain value. They can now make — instead of lose — money on a home sale.

But as home values increase, we’re not seeing a glut of homes listed for sale. In fact, Trulia research has determined that in markets with the biggest home value gains, supply is tightest. The reason for this isn’t clear. One theory is that while homes are easy to sell in this environment, they are still difficult to buy. So even if people can sell for a good price, they would then be thrown into the same buyer pool as everyone else. A tactic that can improve your chances of success as a buyer this spring? Cast a wide net in your search, increasing your opportunities to land a home.

6. Being able to overlook the little things can help

If your ultimate goal is to become a homeowner this spring, you may wish to circle back to that older home with no upgrades that didn’t initially excite you. Many available properties lack modern layouts and amenities. One solution I suggest is to pursue distressed properties. It’s always good advice to ignore cosmetic issues like bad paint colors or poorly placed furniture. But in a competitive real estate market with low inventory, being able to overlook simpler flaws could be the difference between getting a good deal on a home and not getting a home at all.

7. Preapproval is more important than ever

You may need to offer more money to buy a home in this busy real estate season. First, figure out what you can comfortably afford. Don’t stretch yourself financially.  A typical starter-home buyer would need to dedicate 38.3% of their monthly income to buy a starter home — a 2.9 point increase from last year.

Once your budget is set, focus on prepping your finances for a home purchase. The more prepared in preapproval you are, the more value you add to yourself and your buying appearance. This means having all documentation in line so you can move fast.

I hope this information was able to help you. If  you have questions, feedback or comment do share them with me.

Highlight your home's strengths, downplay its weaknesses and appeal to the greatest possible pool of prospective buyers with these home-staging tips.

Bye Bye Clutter
The most important thing you can do to prepare your home for sale is to get rid of clutter. Make a house rule that for every new item that comes in, an old one has to leave. One of the major contributors to a cluttered look is having too much furniture. When professional stagers descend on a home being prepped for market, they often whisk away as much as half the owner's furnishings, and the house looks much bigger for it. You don't have to whittle that drastically, but take a hard look at what you have and ask yourself what you can live without.

Home Lighting
One of the things that make staged homes look so warm and welcoming is great lighting. As it turns out, many of our homes are improperly lighted. To remedy the problem, increase the wattage in your lamps and fixtures. Aim for a total of 100 watts for each 50 square feet. Don't depend on just one or two fixtures per room, either. Make sure you have three types of lighting: ambient (general or overhead), task (pendant, under-cabinet or reading) and accent (table and wall)

Furniture Grouping
There's a common belief that rooms will feel larger and be easier to use if all the furniture is pushed against the walls, but that isn't the case. Instead, furnish your space by floating furniture away from walls. Reposition sofas and chairs into cozy conversational groups, and place pieces so that the traffic flow in a room is obvious. Not only will this make the space more user-friendly, but it will open up the room and make it seem larger.

Make It Bigger
To make a room appear bigger than it is, paint it the same color as the adjacent room. If you have a small kitchen and dining room, a seamless look will make both rooms feel like one big space. And make a sunporch look bigger and more inviting by painting it green to reflect the color of nature. Another design trick: If you want to create the illusion of more space, paint the walls the same color as your drapery. It will give you a seamless and sophisticated look.

Neutral and appealing
Painting a living room a fresh neutral color helps tone down any dated finishes in the space. Even if you were weaned on off-white walls, take a chance and test a quart of paint in a warm, neutral hue. These days, the definition of neutral extends way beyond beige, from warm tans and honeys to soft blue-greens. As for bold wall colors, they have a way of reducing offers, so go with neutrals in large spaces.

Color Experiment
Don't be afraid to use dark paint in a powder room, dining room or bedroom. A deep tone on the walls can make the space more intimate, dramatic and cozy. And you don't have to go whole hog - you can paint just an accent wall to draw attention to a dramatic fireplace or a lovely set of windows. If you have built-in bookcases or niches, experiment with painting the insides a color that will make them pop — say, a soft sage green.

Vary Wall Hangings
If your home is like most, the art is hung in a high line encircling each room. Big mistake. Placing your pictures, paintings and prints in such stereotypical spots can render them almost invisible. Art displayed creatively makes it stand out and shows off your space. So break up that line and vary the patterning and grouping.

Three's Company
Mixing the right accessories can make a room more inviting. When it comes to eye-pleasing accessorizing, odd numbers are preferable, especially three. Rather than lining up a trio of accessories in a row, imagine a triangle and place one object at each point. Scale is important, too, so in your group of three be sure to vary height and width, with the largest item at the back and the smallest in front. For maximum effect, group accessories by color, shape, texture or some other unifying element.

Serene and Inviting
Create a relaxing bedroom setting with luxurious linens and soft colors that will make a potential home buyer want to hang out. Bedroom staging trick: If you don't have the money to buy a new bed, just get the frame, buy an inexpensive air mattress and dress it up with neutral-patterned bedding. And remember to declutter. By cleaning out your closets, you're showing off your storage space, which sells houses - it always ranks high on buyers' priority list.

New Faces
If you can't afford new cabinets, just get new doors and drawer fronts. Then paint everything to match and add new hardware. And instead of replacing the entire dishwasher, you may be able to get a new front panel. Check with the manufacturer to see if replacements are available for your model. If not, laminate paper, which goes on like contact paper, can be used to re-cover the existing panel.

Repaired Wood
Unfinished projects can scare off potential buyers, so finish them. Missing floorboards and large cracks in the sidewalk on the way to your door tend to be a red flag, for example, and they cost you less to fix than buyers might deduct from the asking price.

Serene and Inviting
Create a relaxing bedroom setting with luxurious linens and soft colors that will make a potential home buyer want to hang out. Bedroom staging trick: If you don't have the money to buy a new bed, just get the frame, buy an inexpensive air mattress and dress it up with neutral-patterned bedding. And remember to declutter. By cleaning out your closets, you're showing off your storage space, which sells houses - it always ranks high on buyers' priority list.