I am wondering if anyone else here on AR has any experience with the MMAP program. I recently attended the certification seminar and am working with several clients to implement it. I've exchanged a few messages with Mike Mueller--one of the first to be certified for MMAP--here on AR, but I'm curious about other people's experiences, for better or worse.
As we all know, one of the biggest hurdles that the average person faces when purchasing a home is how to finance such a large amount of money. Buying something for hundreds of thousands of dollars just seems unfathomable at first to many people.
The MMAP program--Monthly Mortgage Assistance Program--is one solution, and it can help reduce monthly mortgage payments anywhere from $250 to $1000 per month for up to two years. And, all it requires is a simple agreement between the buyer and the seller.
Basically, the seller agrees to set aside an agreed-upon amount of the purchase price into a trust account (via the MMAP grant program), which is then used to reduce the buyer's monthly mortgage payments anywhere from $250 to $1000 per month for up to 24 months.
Even better, it is reliable and astoundingly simple to arrange. For more information, visit the MMAP website or just drop me a line and let's talk about it. I'd love to hear your experiences or questions.
Mary Smartt, Realtor
My blog: Smartt Moves with Mary Smartt