SECTION F SUNDAY, JANUARY 10, 2016
Classifieds
HOMES JOBS LEGALS MISCELLANEOUS PUZZLES AUTOS & MORE spokesmanclassifieds.com
www.spokesmanhomes.com
EXCLUSIVE MULTIFAMILY OFFERINGS A D AM S SQUA R E
$5,800,000
A 106-unit apartment community located in Spokane, WA
• Rare opportunity to acquire well maintained property in great infill location. • Strong occupancy with lower rents compared to market. • Historically strong and stable cash flow. • Best in class asset with tremendous value for new owner • Close proximity to Spokane Valley Mall and “The Park”
P E RRINE CO U RT
$3,800,000
A 62-unit apartment community located in Spokane, WA
OPEN 1:30-4 10229 N. Navaho Dr.
$459,000
Johnson built Craftsman style ranch plan w/4 Bedrooms, 3 Baths, gas fireplace, great room 3 Car Garage, finished basement.
• Rare opportunity to acquire well maintained and managed property in great infill location. • Strong historical occupancy with lower rents compared to market. • Best in class asset with unparalleled amenity package rivaled by only newer and larger properties. • Great alternative for tenants seeking value through reasonable rents and modern amenities.
2,807 Sq. Ft. Finished.
Contact BRUCE PEART 425.450.1142
bpeart@kiddermathews.com
Kiddermathews.com
ARIELLE DORMAN 425.450.1100
adorman@kiddermathews.com
Ask our broker
AM I HURTING MY ABILITY TO BORROW? Peter G. Miller CTW Features
the monthly payment.” At the end of 2014 the average What will happen with mortgage student loan balance was $24,803; rates now that the Federal Reserve 2 percent of that amount is $496, has raised interest rates for banks? which will be added to an FHA ANSWER: loan applicant’s monthly debts if a student loan is delinquent, Student loans are a big lender deferred or in a grace period. For concern and with good reason. many borrowers the addition of First, a lot of student debt is so much monthly debt will push outstanding. Second, a lot of up their debt-to-income ratio to student debt is not being repaid. a point where they can no longer Third, some mortgage rules qualify for financing. require lenders to harshly treat unpaid student debt. If your student debt is both federally insured and delinquent According to the Federal Reserve Bank of New York student then it will show up on HUD’s Credit Alert Verification Reporting debt has reached almost $1.2 System, a database checked by trillion, more than four times lenders. If a loan is flagged by the $260 billion in student loans CAIVRS the mortgage application outstanding in 2004. The size of will go nowhere until the matter is this debt is troubling in the sense straightened out. that job opportunities for college graduates do not seem especially The whole idea of student loans better than a decade ago – and yet was to finance an education there is far more student debt. that would allow borrowers to enter the work force with better In many cases a college qualifications that would in turn education is not generating expected income, but college bills allow them to earn more money. The higher debt represented by still need to be repaid. A lot of student loans – loans worth about student loans was supposed to be offset and more by the higher $200 billion – are delinquent. income such individuals could Mortgage lenders will find these expect. Unfortunately, since the loans and most cases they will mortgage meltdown last decade stop a loan application unless many college graduates have resolved. been unable to get the jobs – and Many borrowers want to the income – they once thought finance with Federal Housing a college degree would bring. Administration-insured loans, The result is a massive amount however new rules from the Department of Housing and Urban of student debt that for many borrowers will block any attempt Development make that virtually to get a mortgage. impossible for those with unpaid If you have a student debt and student loans. Since September, are not making monthly payments, HUD has said that if a student then before applying for a home loan payment is “is zero or is mortgage contact your student not available” then the lender lender to get on the good side of must “utilize 2 percent of the the lending system. outstanding balance to establish
Visit Charming Trickle Creek! A Private Country Feel, Yet Very Close To Town! New Phase w/ 22 Great Lots Remaining!
Building Homes & Neighborhoods We Are Proud of for 35 Years!
QUESTION:
• Fantastic Mountain and Prairie View Lots! • Located on edge of South Hill, yet close to all South Hill amenities and Downtown Spokane! • Private community w/ neighborhood park and common areas for walking and riding! • Some of the best lots remaining on the South Hill for a quality new home! The “Rainier” model at 4320 S. Bernson Lane Open Today from 1 p.m. to 4 p.m. • “Rainier” at 4320 S. Bernson Lane - A very special home, just recently completed for the Fall Festival of Homes! Must see amenities, finishes, and furnishings by the Tin Roof. A spectacularly finished walk-out daylight basement rancher w/ complete yard landscaping - $599,900 • “Cierra” at 4303 S. Bernson Lane - New finished basement rancher w/ great views and fresh modern exterior look - $439,900 • “Eastmont” at 4325 S. Bernson Lane - Excellent 2-story home in private cul-de-sac, includes complete yard landscaping, complete basement finish - $399,900! • “Newcastle” at 5114 E. Pantops Lane - Popular finished basement rancher on oversized cul-de-sac lot! Home includes large covered rear patio, and can still be largely customized - Price TBD
Many Premiere Lots Still Available!
Garry Cozza 509-993-9998 • garrycozza@gmail.com Visit www.parashomes.com
Directions: From I-90 drive south on Freya Rd. up the hill to 37th Ave. Turn left at 37th and head east to Glenrose Rd. Turn right at Glenrose Rd. And go south ¼ mile to Rosedale Lane, at Trickle Creek. Follow Rosedale Lane to Bernson Lane. Take a left onto Bernson Lane and head uphill to the model home