Introduction 

Rick Kendrick and Eric Rosemary discuss the Live Local Act, signed into law by Governor Ron DeSantis, addresses workforce housing in Florida by providing affordable housing near workplaces. It allocates $100 million to the Hometown Heroes housing assistance program, supporting workers who contribute to their communities. The legislation aims to foster economic growth, improve quality of life, and reduce commuting burdens. 

More About the Legislation: Senate Bill 102

Governor Ron DeSantis signed into law Senate Bill 102, known as the "Live Local Act," a groundbreaking piece of legislation aimed at addressing the critical issue of workforce housing in Florida. The bill, which encompasses a range of provisions, aims to enhance access to affordable housing solutions for hardworking Floridians, empowering them to live in proximity to their workplaces.

The Live Local Act represents a significant milestone in the state's commitment to supporting the well-being and prosperity of its workers. By prioritizing the availability of affordable housing options near employment centers, the legislation seeks to foster economic growth, improve quality of life, and reduce commuting burdens for Florida's workforce.

One of the key provisions of the Live Local Act is the allocation of an additional $100 million in funding for the esteemed Hometown Heroes housing assistance program. Effective from July 1, 2023, this increased investment will bolster the resources available to Florida workers seeking housing support, particularly those who have made significant contributions to their communities.

Governor DeSantis expressed his enthusiasm for the Live Local Act, stating, "This groundbreaking legislation is a testament to our unwavering commitment to our workers and their families. The Live Local Act will revolutionize the way we approach workforce housing in Florida, ensuring that hardworking individuals have the opportunity to live where they work and thrive in their communities."

Through the Live Local Act, the state of Florida has taken a proactive stance in confronting the challenges faced by its workforce in accessing affordable housing options. By combining strategies to promote workforce housing with a substantial investment in the Hometown Heroes housing assistance program, the state government is spearheading efforts to create a more inclusive, prosperous, and sustainable Florida for all.

Transcript of Episode #1

Welcome to the Your Home Sold Guaranteed radio show where you get advice you can trust from the latest real estate Trends to the best mortgage rates from curb appeal to home warranty.

This is the show that will help you save and make the most money when it comes to buying or selling your most valuable asset .

Now here's your host Broker and Founder of Your Home Sold Guaranteed Realty of Florida, Rick Kendrick.

A happy Sunday morning everybody it's Rick Kendrick Your Home Sold Guaranteed Realty.

So we want to bring listeners the latest real estate topics and Market data more importantly what goes on the market every day.

This is going to be our first show we're very excited about it! I got the little Jitters here but be honest with you I think this is going to be a great thing.

Before we start off and we have our our main event here which is Eric Rosemary with Cross Country Mortgage and we're going to be talking about a great program that's available to us, I wanted you to get to know us a little bit.

My name is Rick Kendrick I've been in this business for about 13 years now and really enjoyed have an opportunity to meet a lot of people.

The great thing is I'm able to work with buyers and sellers people who are the greatest people in the world. Sometimes I meet people that are not so great but that's okay that's part of the business but here's the big thing, we have a team of people that not only enjoy working with our buyers and sellers but also we have the ability to grow and we're looking to grow through people who are looking to buy or sell homes.

So let me introduce you to my my wife and my broker Karey Kendrick.

Hi Rick! So thank you for the listeners out there we're thrilled to be with you today. As Rick mentioned this is our first show so we're excited to bring information on the new Hometown Heroes program along with Eric Rosemary who we have here with us.

So I came to Florida I guess about 30 years ago now I moved down here to go to the University of Florida (Go Gators!) If we've got any Gators listening.

Originally from the Midwest, actually Miamisburg Ohio, a little town outside of Dayton.

When I got out of college I did start in the commercial real estate business but I gravitated towards residential which is my passion and what we've been focusing on.

So Rick and I obviously are a husband and wife team and we are owners or co-owners rather of Your Home Sold Guaranteed Realty of Florida.

You know what's really interesting? So, I have a wife, and then I have my boss, right? When we're sitting at the dinner table, I tell her, 'Hey, listen, what are we going to talk about? Are we going to talk about business or are we going to talk about our little puppy dog? Which one are we going to talk about?' So, we have that distinction. But it's really great to work with my wife because, to be honest with you, I love my wife to be my boss. That's what I really like because she has a lot of knowledge in this business. She's been in this business not only from a commercial but also the residential perspective.

Hey, Karey, you know, a lot of people ask us, 'Why did you name the company Your Home Sold Guarantee Realty?' Well, what's interesting about Your Home Sold Guarantee Realty is that they really took an interest in what's going on in real estate. They wanted to know where they could provide the most value for buyers and sellers and how they could do it differently than the traditional real estate agents out there. So, what they've done is they've come up with a variety of innovative consumer benefit programs. Additionally, we have a huge charitable giving through our Go Serve Big mission. And the one that we're most known for now is our seller guarantee. If you hire Rick to sell your home and he's unable to get it sold, he will actually step in and buy it for cash.

You know, the really great thing is that we have this database of over 19,000 people who are looking to purchase a home. So, we may already have a house for somebody who's looking to make a purchase. The great thing is, we use that database to connect our sellers with immediate buyers. Yeah, I'd say that we oftentimes come across home sellers who are extremely concerned about putting their home on the market for fear that they won't have anywhere to go. Through the database that we've managed to accumulate over the years, if one of your listeners is considering a sale, they can reach out to Rick directly by calling him at 561-901-3333 or visiting RickHasTheBuyers.com.

We can actually go into our database and see if we can find a match for your property. That way, you can avoid putting it on the market altogether. You don't have to worry about showings, open houses, or anything like that. All of our buyers have been pre-approved already, and the great thing about it is they're willing to be flexible with you as far as the closing date. So, that will give you the time you need to find your next home.

On the other side of that coin, we also have a unique buyer satisfaction guarantee. If you use one of our team members to purchase your home, we're so invested in ensuring that you're satisfied with that purchase that if you're not happy within the first 24 months, we'll actually sell it for free or buy it back. That's how committed we are to making sure the folks we're dealing with have a great experience with us.

Here's one I really like, Kerry. So, we list a lot of properties out there, and believe it or not, about 85 percent of the people own a home already. Fortunately, when we have people walking in that door to purchase a home, they already own a home. So, here's what we'll do: if that person walking in wants the house we have listed, we will go and buy their house so they can buy this house. Doesn't that make sense? That's good to do, right? Absolutely!

Those are the offers, those are the guarantees that we provide. It's fairly unlikely that you're going to see people in this business give guarantees, but that's what we believe in. Your Home Sold Guarantee is a very strong company, not only locally but nationwide and even in Canada. It's an opportunity for many people to move forward and have a great experience purchasing or selling a home.

So, what if you could buy a home with no money down? Right after the break, we're going to tell you about an amazing new program just expanded by our governor, Ron DeSantis. The amount available is staggering. This is Your Home Sold Guaranteed radio show. My name is Rick Kendrick, and we're going to be coming back with Eric Rosemary from Cross Country Mortgage. So, stay tuned. We'll be right back.

To schedule an appointment with Rick Kendrick to help you buy or sell your home, call 561-901-3333 or visit RickHasTheBuyers.com. Rick will be right back with more of the Your Home Sold Guaranteed radio show here on Newstalk 850 WFTL.

Hi, I'm Eric Rosemary, the branch manager at Cross Country Mortgage in Boca Raton. If you're deciding which lender to trust, whether you're purchasing or refinancing, I would love the opportunity to work with you. Over my 20-year career, I've helped close to 10,000 families buy or refinance the place they call home. Despite what you're hearing about interest rates, you might be surprised at what we can do for you. Let's talk! Call or text me at 954-312-3104 or visit RosemaryMortgageTeam.com.

If you're ready to buy or sell your home and would like to schedule an appointment with Rick, call 561-901-3333 or go to RickHasTheBuyers.com. Now back to the Your Home Sold Guaranteed radio show and your host, Rick Kendrick.

Welcome back to the Your Home Sold Guaranteed radio show. My name is Rick Kendrick, and I'm the host of the show that airs every Sunday morning at 10 o'clock. We welcome you to be a part of this and gather up the information you need to maybe purchase or sell a home.

Today's topic is Hometown Heroes, so I brought on Eric Rosemary at Cross Country Mortgage, who is part of and is the team leader of the Rosemary Team. Rosemary Team at Cross Country Mortgage was opened in June of 2012 by its branch manager and master loan originator, Eric Rosemary. Eric is a seasoned mortgage professional with over 20 years of experience originating mortgages. Operating in a high-producing Mortgage office, the Rosemary Team was Cross Country's top producing branch in 2013 and 2015. And here's the interesting thing, I didn't realize this, Eric's branch is one of the first in Florida with Cross Country Mortgage, and that's pretty interesting to say in advance.

Rosemary Team was Cross Country Mortgage's first branch to be opened in the state. Original operations were out of Fort Lauderdale for about eight years and then relocated to Boca Raton in June of 2020, where he is easily accessible to both Broward and Palm Beach County clients. Eric's experience as a loan originator and his processing team is dedicated to closing loans in as little as 21 days or less. His team takes pride in themselves and the attention to detail, on direct line of communication with borrowers, Realtors, and title companies, to make a smooth and seamless loan transaction for all in record time.

So whether you're a first-time buyer or a seasoned investor, do not hesitate to call Eric at 954-312-3104. So with that in mind, I'd like to introduce Eric Rosemary.

Hey Rick, thanks for the invitation here today. Like Rick said, my name is Eric Rosemary. I'm the branch manager and loan originator at the Rosemary Team with Cross Country Mortgage in Boca Raton. As Rick said, I've been in the business for a little over 20 years. I started out in Fort Lauderdale and opened my Cross Country branch in June of 2012, and I've been with Cross Country ever since. Cross Country Mortgage is a nationwide company with over 500 branches, a top three lender in the country, and I am a top one percent loan originator in the country.

So Rick, I'm happy to be here today to talk about the Hometown Heroes program with you and look forward to many more years of working together. You know, Eric, we had a busy week this week. We had a couple of people that we've been working with for a very, very short time, and some that we've worked with for a long time. Cynthia, who had some issues with her credit, Eric worked with her for over two years. We finally closed her on Thursday. It was really great. It made you feel so good, didn't it, Eric? That she had worked with this person. And then on the other hand, we had somebody, Jill, that came across. We found her a place in three days, and you closed her in 21 days. So I'm telling you, here's the thing: when you can find somebody who cares as much as Eric does and brings across the opportunity to help somebody get a loan to purchase a home, he is the man to do it.

Yeah, Cynthia, you know, she was one of those clients that deserved a home. She didn't have tons of income, but she just deserved a home. We worked with her over two years to get her into that home, and yeah, on Thursday, she closed, and she was forever grateful. Eric, I know you probably don't want to, but I'd like you to talk about your family a little bit because since I met you, things, and you should see the smile on his face because he just had a new arrival. So, Eric, tell me a little bit about Christine and the crew there.

Yeah, I had a baby boy three weeks ago, I think it was. Yeah, the days are all kind of blending together. Before that, I had another boy three years ago, so I have a three-year-old and a newborn, and then a step-daughter who just turned 18, who's going to play softball at the University of Auburn at Montgomery. Wow, she leaves in August. Yeah, it brings back memories because Eric, this is how dedicated he is. He actually bought a motorhome when softball season came around. He had it parked right in front of the baseball park, and he would be doing his business as he's watching his daughter play softball. So that's how committed he is, not only to his family but to the business.

Eric, let's get into the Hometown Heroes program because I think this thing is strong. Hometown Heroes is something that started a couple of months ago and has now expanded even more. It started last year as a program that provided down payment assistance and closing cost assistance to our frontline workers. After COVID, our governor decided to do something for our frontline workers, and that program really took off. He allocated $100 million towards that program, and as of last month, it was all used up. Now, he has passed SB 102, which expands the program to provide up to $35,000 in down payment assistance for closing costs and down payment. Furthermore, he expanded it even further to include all first-time home buyers who are or will be Florida residents and work more than 35 hours a week. So now, it's available to everyone who is a first-time home buyer in the state of Florida.

Here's the big thing: what's the interest rate on that, Eric? It comes with reduced interest rates and reduced costs. The rates are below market rates. Currently, it is such a friendly, strong program. We are already going through our database and picking up people, and we're going to start marketing this program because it becomes effective in the month of July. We're cranking up right now to supply our buyers with this beneficial opportunity.

Regarding the Hometown Heroes' pre-approval process, is it any different from a traditional loan or FHA or VA loan? Is there any difference in how they go through this? No, because it's the same loan program. It can be an FHA loan, a VA loan, USDA, Fannie Mae, or Freddie Mac loan. The underwriting process is the same. There are some different restrictions or guidelines for that program, such as credit score and debt ratio, but the underwriting process remains the same, and it's all underwritten in-house at Cross Country Mortgage.

That's big, you know. In the business I'm in, I deal with a lot of lenders or brokers, if you want to call them, who are not direct lenders. Cross Country Mortgage is a direct lender, and that becomes the key when it gets down to this point. I have dealt with a lot of lenders throughout my years of experience in real estate, and to be honest with you, it's very discouraging when you reach the closing date and find out that, number one, you don't qualify for the loan.

Eric, could you tell me a little bit about the aspect of going through the loan process? I mean, you take them through the major part of it right at the very beginning to ensure that once they find the right house, they're going to get to the end and we're going to close for them.

Yes, that's one of the things that we do that may differ from other lenders and brokers out there. We gather all the pertinent information and documentation upfront so that we can not only give them a pre-qualification but a pre-approval. Furthermore, sometimes we put them through our Fast Track program, which allows them to be fully underwritten before identifying a property. Once one of our buyers signs and gets a contract executed, it becomes a point where we've got to take that stress out of their minds and let them know that they have a great ending sitting at the closing table to purchase their home.

This part of the loan process is very big. And here's the thing: when you're negotiating to get a buyer to be able to get this house, one of the key items I see is the fact that we have an option to give a 30-day commitment or a 21-day commitment. So, what's the Rosemary promise? Well, the Rosemary promise is just that we will close their loan within 21 days or less. If we do not make the mark on the closing date, we will give a $5,000 credit to the seller for missing that mark. That's big to me. That's very big. I need every bit of ammunition I can get because there are situations still today where you have a multiple offer situation. To have a loan commitment in 21 days and to take this to the seller and say, Hey, listen, this is Cross Country Mortgage, they take this offer and put it on top of all the other offers out there simply because of the credentials that Eric brings to the table.

Rick, we can actually give a loan commitment in seven to ten days or less and close within 21 days. Wow, that's strong. I tell you, I get chills every time I hear that because it's so hard. I've had so many disappointing times in the very beginning, before I met Eric, when I had to tell the buyer, Listen, you don't qualify for a loan. So, Eric's 20 years of experience comes into play here.

So, Eric, you know, I don't know if you're aware of this, but you and I have completed over 75 transactions. Yep, and guess what? We haven't struck out once. That's a record. You're batting a thousand, and achieving a perfect score in this business is hard to come by, especially when you have a lender that you can rely on and depend on. Eric's team is not only available five days a week, but seven days a week. Sean and Donna are the people I hear and see every day, always picking up the phone and helping us get things done and completed on time.

One of the things we make sure of is that we have weekend coverage every weekend. So, right now, Sean is available for people to get pre-approved, pre-qualified, submit offers, and talk to listing agents. We let them know that this borrower is not just pre-qualified but pre-approved, having gone through our Fast Track underwriting. We are committed to closing this loan on time for their seller because any delay can have a snowball effect, affecting other sellers and buyers. That's the key, making sure you're not just pre-qualified but pre-approved. It's significant in this business.

I just want to take a moment to say thank you, Eric, for joining us on our first radio show and providing us with all the details about this big thing happening in July. We look forward to continuing our business partnership with you. The Hometown Heroes program is a big deal, and Eric is here to support us in getting our buyers pre-approved and accepted on offers. To reach Eric Rosemary at Cross Country Mortgage, you can call 954-312-3104 or visit www.RosemaryMortgageTeam.com.

You're listening to the Your Home Sold Guarantee Radio Show. To contact me, call 561-901-3333. We'll be right back. To schedule an appointment with Rick Kendrick to help you buy or sell your home, call 561-901-3333 or visit RickHastheBuyers.com. Rick will be right back with more of the Your Home Sold Guarantee Radio Show here on Newstalk 850 WFTL.

Hi, I'm Eric Rosemary, the branch manager at Cross Country Mortgage in Boca Raton. If you're deciding which lender to trust, whether you're purchasing or refinancing, I would love the opportunity to work with you. Over my 20-year career, I've helped close to 10,000 families buy or refinance the place they call home. Despite what you may be hearing about interest rates, you might be surprised at what we can do for you. Let's talk. Call or text me at 954-312-3104 or visit rosemarymortgageteam.com.

If you're ready to buy or sell your home and would like to schedule an appointment with Rick, call 561-901-3333 or go to RickHastheBuyers.com. Now, back to the Your Home Sold Guarantee Radio Show and your host, Rick Kendrick.

This is the Your Home Sold Guarantee Radio Show. My name is Rick Kendrick. Today, we're going to delve into the details of the Hometown Heroes program with Eric. It's crucial to understand what this program entails. Joining me today are Karey, myself, and Eric. So, Eric, let's explore the Hometown Heroes program further, as I believe people are genuinely interested in a program like this.

Rick, thank you for the introduction once again. This is Eric Rosemary with Cross Country Mortgage, and I'm excited to talk about the Hometown Heroes program. Let me provide you with more information about it. The program initially started last year, offering down payment assistance and closing cost assistance to our frontline workers in the aftermath of COVID-19. Recognizing the significance of supporting our frontline workers, our governor allocated $100 million to this program. As of last month, all of those funds were utilized. However, the program has now been expanded with the passing of SB 102.

Under the expanded program, an additional $100 million is dedicated to providing down payment assistance and closing costs for first-time home buyers in the state of Florida. The program is available to all full-time employees who work more than 35 hours a week. It's important to note that being a first-time home buyer doesn't necessarily mean you've never owned a house before. It means you haven't lived in a property that you owned or co-owned within the past three years. So, even if you currently own an investment property while residing elsewhere or living with your parents, you may still qualify for the program.

Regarding credit scores, there is a minimum requirement of 640. Now, when it comes to limitations on purchasing, if someone has been living with their parents, there are certain allowances for that situation. The only individuals exempt from the first-time home buyer requirement are veterans or active-duty personnel. They may have owned a house within the last three years and resided in it, but the program remains available to First Responders and other first-time home buyers.

So, to clarify, the program is now open to all first-time home buyers, not just limited to First Responders or Frontline workers.

Great, Eric. You mentioned that there is a hundred million dollars available to us. Can you provide more details on how much is available to each individual?

Certainly, Rick. Every buyer will receive up to $35,000 in down payment assistance, which is equivalent to five percent of their loan amount, capped at $35,000. There has been a recent change that introduced a minimum amount of $10,000. So, for example, if someone is purchasing a $150,000 condominium, they would receive $10,000, whereas previously, they would have only received five percent of $150,000.

Eric, do the buyers have to repay this assistance?

The down payment assistance comes in the form of a zero percent interest second mortgage that is unforgivable. This means that they will eventually need to repay the assistance when they refinance, sell the property, pay off the mortgage, or move out of the property as their primary residence. The aspect of zero interest is highly advantageous and will attract many buyers to participate.

Unlike many other down payment assistance programs where repayment includes both the principal and interest, in this program, there is no interest and no regular payment. Buyers will repay the assistance amount of $25,000 only when they sell the property, refinance, or pay off the mortgage.

That's a very strong program, Eric. It's quite different from traditional programs where buyers often end up on waiting lists for funds. With this program, although there is a limitation on available funds, it is accessible to most people, especially first-time buyers. I believe we will see a surge of interest in this program.

Interested individuals can contact you, Eric Rosemary, with Cross Country Mortgage at 954-312-3104 or visit rosemarymortgageteam.com. And, of course, they can also contact us. This is the Your Home Sold Guaranteed Radio Show hosted by Rick Kendrick, and my number is 561-901-3333.

Moving on to the next segment, let's discuss three properties that have recently become available. We have a brand new custom-made four-bedroom, three-bath house in Loxahatchee, currently on the market for $849,000. On the east coast, we have a three-bedroom, three-bath condo with a water view, just five minutes from the ocean, priced at $1.1 million. This spacious condo offers 2,300 square feet of living space. Finally, in Wellington, we have a newly listed four-bedroom, two-and-a-half-bath house spanning 2,900 square feet, available for $725,000. For more information on these properties, please call me at 561-901-3333. Remember, our name is our promise: Your Home Sold Guaranteed. If you're not satisfied with your home within the first 24 months, we'll sell it for free—guaranteed. You can find us at RickHasTheBuyers.com.

Thank you for tuning in to the Your Home Sold Guaranteed Radio Show. I'm Rick Kendrick, and we look forward to next week's episode. Join us every Sunday at 10 AM. You've been listening to the Your Home Sold Guaranteed Radio Show with broker-owner Rick Kendrick, airing every Sunday morning on News Talk 850 WFTL. Rick's company name is his promise: Your Home Sold Guaranteed Realty. To speak directly to Rick about buying or selling your home, call now to schedule an appointment at 561-901-3333 or visit RickHasTheBuyers.com.

Mark your calendar to join Rick again next week at the same time for the Your Home Sold Guaranteed Radio Show on News Talk 850 WFTL.