This program allows home owners who have been current with their mortgage to refinance at record low rates even if you owe more then your home is worth.
Chris Johnstone is coming back to show us how he is getting 5 star ratings and reviews on his Google Places page using the new Facebook timeline and how this turns into closed deals.
Did you know you now have a website that Google created for you for free?
Google wants YOU to show up on the first page using the website they built for you.
We are going to show you how to bring it to life, show up on the first page of Google in your LOCAL area and control your social proof so that people choose YOU!!!
We will be showing you:
~How to get on the front page of Google when local customers search for real estate online using your FREE Google website
….Don’t have a website already? Where going to show you how to use the one Google built, even if you consider yourself “Techie Challenged”
~How to get Social Media working in your business even if you don’t havea Facebook account
~How to create good online Karma building a 5 star culture of repeats, referralsand testimonials
Google did this for a reason, now it’s your turn to take advantage of it…
P.S. Remember if you missed any of the past classes replay to this email for your password or call me at 561-373-0987. Here is the link to the replay's:
Need more Facebook Timeline Training? I have a Special Gift For You...Just go to my blog and I have given you complete access to more video training that will explain the Facebook Timeline changes in more detail:
Michael Brue of Keller Williams Realty in Jupiter, FL explains why current county tax records may be a poor indication of what a new home buyer will actually pay in real estate taxes
The current tax bill is usually a poor indication of what a new owner will pay for real estate taxes in Florida. Michael Brue of Keller Williams Realty in Jupiter, FL explains how you can better estimate what your real estate taxes will be when you buy property in Florida. www.WhatUDont-Know.com
Posted by: Christian Penner at 12:59am
Tags: michael brue, keller williams realty jupiter, christian penner
Do you want more leads? Who doesn’t right? Would you like tobuild trust with prospective buyers, become a neighborhood expert, and attract more listings?
This workshop is designed to show real estate agents the latest, most cutting edge marketing techniques to employ in your Open Houses.
P.S. Remember if you missed any of the past classes replay to this email for your password or call me at 561-373-0987. Here is the link to the replay's:
If you really enjoyed the last few classes on theNew Facebook Timeline I have a Special Gift For You...Just go to my blog and I have given you complete access to more video training that will explain the Facebook Timeline changes in more detail:
P.S. S. Remember if you missed any of the past classes replay to this email or call me at 561-373-0987 and I’ll get you the recordings.....
If you really enjoyed the last few classes on the New Facebook Timeline I have a Special Gift For You...Just go to my blog and I have given you complete access to more video training that will explain the Facebook Timeline changes in more detail:
This program allows home owners who have been current with their mortgage to refinance at record low rates even if you owe more then your home is worth.
That's right, you can be completely upside down and still lower your payments dramatically.
The numbers for FEMBI Mortgage are in for 2011 - $280 million was lent to over 1300 families and we are now the 106th largest privately held company in Florida based on revenue!
Did you know that you may...
Get fixed rates below 4%
Borrow up to $2M with as little as 20% down at a LOW FIXED RATE
Get a VA Loan or USDA loan with NO MONEY DOWN! (100% Financing)
We may be in the middle of income tax season, but hoping you'll be getting a refund isn't the only thing you should be thinking about this time of year...especially if you're a homeowner. That's because the National Taxpayers Union(a nonprofit citizen group) estimates that between 30 and 60 percent of properties are assessed for too high of a value, resulting in an incorrectly larger property tax bill.
Are Your Property Taxes Too High?
Income Tax Isn't the Only Important Tax This Time of Year
We may be in the middle of income tax season, but hoping you'll be getting a refund isn't the only thing you should be thinking about this time of year...especially if you're a homeowner. That's because the National Taxpayers Union (a nonprofit citizen group) estimates that between 30 and 60 percent of properties are assessed for too high of a value, resulting in an incorrectly larger property tax bill.
The Simple Truths of Stress
YOU Have a Choice in the Matter
The great comedian George Burns once said, ''If you ask what is the single most important key to longevity, I would have to say it is avoiding worry, stress and tension. And if you didn't ask me, I'd still have to say it.'' As Mr. Burns lived to the age of 100, he likely took his own advice.
Spring Veggies
A Minimalist's Approach to One of Life's Simple Pleasures
By Kirk Leins
The onset of spring brings a slew of accompanying pleasures. Some of these pleasures, the best of them really, also happen to be the most simple-beautiful weather and the start of the baseball season, just to name two. But for me, there's one simple pleasure surrounding spring that outshines the rest. Believe it or not, I'm talking about vegetables. It may sound farfetched but, before you disagree, allow me to present my case.
Sense of Security
Not Protecting Your Home Can Cost You
According to the Department of Justice and the FBI, of the more than 2 million burglaries reported in 2010, 73.9 percent took place in residential homes rather than businesses. Those burglaries averaged more than $2,100 in stolen items, adding up to nearly $4.6 billion in lost property in one year alone!
If You Missed The Live Class On Tuesday, I have Great News!
Have you ever wondered how to use Facebook to
get massive exposure on one or all of your listings?
How about letting a neighborhood get to know, like
and trust you so that when they or their friends,
family or co-workers are ready to sell or buy a home
they call YOU?
This class will show you an amazing way to use
Facebook to double your trips to the closing table
in a very short period of time.
You will also get a step by step powerpoint explaining in detail how to
set up your Business Page the right way for maximum conversions.
Have you ever wondered how to use Facebook to
get massive exposure on one or all of your listings?
How about letting a neighborhood get to know, like
and trust you so that when they or their friends,
family or co-workers are ready to sell or buy a home
they call YOU?
Hope you can join us for an amazing way to use
Facebook to double your trips to the closing table
in a very short period of time.
Christian Penner Area Manager
Mortgage Banker Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com Google Me Now
Reminder: Changes to HARP Program Announced
See If You Can Benefit
Just a note to remind you that in October, President Obama announced plans to open up refinancing to more homeowners who are underwater. This proposal was a revision to the current Home Affordable Refinance Program (HARP).
So what does this mean to you?
This means that if your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP.
You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:
Fannie Mae and Freddie Mac have recently released details regarding how these changes will be run. If you have any questions at all about what these changes mean or how they could impact you, call or email me anytime. I'm always happy to help.
Existing home sales for October rose to 4.97 million, a 1.4% increase from September, and a 13.5% increase from October 2010. An additional positive sign is the decline in the number of homes on the market. Total inventory for October fell 2.2% from September. This represents an 8.0 month supply at the current sales pace, down from 8.3 months in September.
Existing Home Sales is a measure of the selling rate of pre-owned single-family homes, collected by the National Association of Realtors from 650 realtor associations. Sales of existing (or pre-owned) houses account for roughly 84% of all houses sold. Sales of new houses account for the other 16%. Simply put, the volume of sales indicates housing demand.
Building permits rose to 653,000 in October. A 10.9% increase from September and 17.7% higher than October 2010. This is the largest number of permits for 2011 and represents the most since March 2010.
The building permits report is used as a guide to gauge future signs of construction. Housing construction is significant in that builders generally don't start a house unless they are fairly certain it will sell upon its completion, if not before. Increased building permits, and then a subsequent increase in housing starts can tell a lot about home demand and construction outlook.
Posted by: Christian Penner at 2:03pm
Tags: building permits - housing - mortgage - home loans
Republicans and Democrats in the U.S. Congress on Monday agreed on a measure that would increase the maximum size of mortgage loans that can be insured by the Federal Housing Administration, a key funding source for U.S. home loans.
The measure to raise the loan limits backed by the FHA still has to pass the Republican-led house and Democrat-controlled Senate before it becomes law, but the agreement by a bipartisan panel of lawmakers from both chambers indicates a strong likelihood of final approval.
The limits, which vary by real-estate markets, fell at the end of September for mortgages insured by the FHA, as well as government-controlled Fannie Mae and Freddie Mac . The higher loan limit was temporarily raised for Fannie, Freddie and the FHA during the financial crisis and it automatically dropped back to $625,500 on Oct. 1.
The agreement reached among House and Senate leaders excludes those loans guaranteed by Fannie and Freddie, which provide about half of the funding of all U.S. residential home loans. The deal would only impact FHA's loan limits, restoring the cap for mortgages the government insures to as high as $729,750 in high-cost real estate markets through 2013.
The agreement follows a polarizing debate over the size of mortgages the federal government should back. The measure to increase the legal limits on the size of mortgages the FHA can insure was included in a bill to fund a large swath of government programs, from food inspection to law enforcement, that is seen as must-pass legislation for many lawmakers.
The legislation containing the amendment extends funding on a temporary basis for many government programs through Dec. 16, giving Congress additional time to finalize funding levels.
The House and the Senate must pass the bill by Nov. 18, when current funding expires.
The Commodity Futures Trading Commission, tasked with implementing several reforms of the Dodd-Frank financial overhaul, is given a budget of $205 million, roughly 50 percent below what the Obama administration requested.
Budget battles have raised the possibility of a government shutdown twice so far this year, as Republicans have pushed for steep spending cuts. Aides say they do not anticipate that this bill will lead to another round of budget brinkmanship.
The divisive debate on the loan limits will continue to play out this week as lawmakers push to pass the short-term funding measures. The Senate had pushed a measure that would raise the maximum size of a home loan backed by Fannie Mae, Freddie Mac and the FHA to $729,750.
The House did not include the higher limits in its bill to fund federal agencies through next September, instead favoring to keep the cap at $625,500.
The reduction in the loan limit was part of an effort to start reducing the government's footprint in the mortgage market and revitalize the role of private lenders -- an effort supported by President Barack Obama and Federal Reserve Chairman Ben Bernanke, as well as some Republicans in Congress and the FHA itself.
Critics, including several prominent House Republicans, opposed the higher loan limits because they believe the government's extensive role in the housing market needs to be curtailed to protect taxpayers.
However, some Republicans, including several from California and New York, argued the housing market was still too weak to lose government support in higher-cost neighborhoods.
Some analysts say only a sliver of the overall U.S. housing market, about 2 percent to 3 percent, was impacted by the recent decrease in the limits. But some housing advocates believe a higher limit is warranted given the persistent weakness in housing.
Christian Penner Area Manager
Mortgage Banker
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Great News forUnderwater Homeowners Changes toHARP ProgramAnnounced
You may have heard that President Obama plans to open up refinancing to more homeowners who are underwater. If you are wondering what this means...and if you can benefit...here are some facts to consider.
First, it's important to realize that the president's proposal is not a new program, but a revision to the current Home Affordable Refinance Program(HARP). However there is a big change: Now homeowners can refinance no matter how underwater they are! Before homeowners could only refinance if they were 25% or less underwater, and even then many banks only let people who were 5% or less underwater refinance.
Also, with the revision it's possible that an appraisal won't have to be performed, which is great news as this will save time and money. But this is only the case if Fannie Mae or Freddie Mac can electronically estimate the value through their valuation models.
Keep in mind that these updates to HARP apply only to people whose mortgage is currently secured by Fannie Mae or Freddie Mac...and whose loan was securitized by Fannie Mae or Freddie Mac prior to May 31, 2009. So the chances are that people who have refinanced since May 2009 will not qualify to refinance under the HARP revision.
As of now, the revisions to HARP have been proposed by President Obama and theFederal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac. This directive has been given to Fannie Mae and Freddie Mac and they now have until November 15, 2011 to give guidance and details regarding how these changes will be run.
To read more details, you can visit the FHFA Web site. And if you have any questions at all about what these changes mean or how they could impact you, call or email me anytime. I'm always happy to help
CLOSING TECHNICAL SIGNAL: The problems in Europe are far from over and technicals take a backseat. We are Floating into the Fed announcement due Wednesday at 2:15pm ET.
MARKET WRAP: The Bond markets hopped on the roller coaster today as news from Greece pushed and pulled at prices throughout the session. In addition, the lower China PMI and weaker than expected ISM Index also helped to push Bonds higher and put a dent in Stock prices. By the end of the day, Mortgage Bonds ended higher by 44bp to end the volatile trading day at 102.25. Stocks fell for the 3rd straight day on the Greek news. The Dow fell 297.05 to 11,657.96, the S&P 500 Index lost 35.02 to 1,218.28 while the Nasdaq dropped 77.45 to end at 2,606.96. Oil fell $1 to $92.19/barrel. Tomorrow's data will feature the ADP Employment report while the Fed's monetary policy statement will be released at 2:15pm ET.
I Found a really cool FREE system that allows you to search through all your social sites, gmail, linkedin, facebook, twitter all at the same time for any one person or conversation from one location and it works great on your phone as well, some 19 year old built it ;) This is amazing and a huge time saver when you need to find something fast ;).
Today, the Federal Housing Finance Agency (FHFA), along with Freddie Mac and Fannie Mae, issued a press releaseannouncing a series of changes to the Home Affordable Refinance Program(HARP) in an effort to attract more eligible borrowers who can benefit from refinancing their home mortgage. The program enhancements were developed at FHFA's direction with input from lenders, mortgage insurers, and other industry participants.
These changes mark another step on the road to recovery for the nation's housing market and underscore Freddie Mac's vital role inmaking affordable mortgage financing available to America's homeowners and future homebuyers.
Next Steps for Freddie Mac Seller/Servicers To help you prepare for these changes, Freddie Mac is working to finalize our operational requirements to implement the changes through our Freddie Mac Relief Refinance MortgageSM. A portion of the Relief Refinance Mortgage offering is our business implementation of HARP.
Our revised requirements will be published in a Single-Family Seller/Servicer Guide (Guide) Bulletin by November 15. While we finalize our requirements, we encourage you to review today’s press release.
To Check if your property is a Freddie Mac or Fannie May Loan go to these sites:
As a Mortgage Bankerwho has been heavily involved in closing short sales over the last five years, one of the questions that I get asked quite often from home sellers is how long will it take before I will be able to buy a homeagain.
The answer to this question does not have any clear cut and dry answer. There are quite a few variables involved when trying to figure out when someone will be able to purchase a homeafter a foreclosure or short sale.
Going through either a short sale or a foreclosure has the potential to seriously impact ones credit. Government entities Fannie Mae, Freddie Mac and FHA do not directly loan money to individuals but are the governing body that work with lenders to guarantee loans and free up money to provide mortgages.
Banks typically have the authority to lend to whoever they want but will generally follow the guidelines set forth by these entities. There are some lenders of course that will take greater risks with some borrowers than others.
Below are the general guidelines that FHA, Fannie Mae and Freddie Mac follow when considering a loan after a short sale or foreclosure:
Short salewith FHA Loan
Can purchase right away with no mortgage default
3 year wait if in default at the closing
Reduced wait if the borrower has re-established good credit and can show extenuating circumstances
Short Sale With Fannie Mae Loan
2 year wait if the borrower puts 20 % down
4 year wait if the borrower puts between 10% to 20% down
7 year wait if the borrower puts less than 10% down
2 year wait if the borrower can show extenuating circumstances and puts more than 10% dow
Short Sale with Freddie Mac Loan
4 year wait before being able to get a loan
2 year wait if the borrower can show extenuating circumstances
Foreclosure with an FHA Loan
3 year wait before being able to get a loan
Reduced wait if the borrower can show extenuating circumstances and re-establishes good credit
Foreclosure with a Fannie Mae Loan
7 year wait from the completed foreclosure sale date
3 year wait if the borrower can show extenuating circumstances. Additional underwriting requirements apply for 4 years after a 3 year waiting period.
7 year wait for a 2nd home, cash out re-financing, or an investment property
Foreclosure with a Freddie Mac Loan
5 year wait from the completed foreclosure sale date
3 year wait if the borrower can show extenuating circumstances
** As a side note a deed in lieu of foreclosure follows the same guidelines as FHA’s foreclosure policy, the same as Fannie Mae and Freddie Macs short sale policy.
When analyzing the difference between completing a short sale or going through a foreclosure in regards to purchasing another property in the future it boils down to the waiting time which is more favorable in a short sale.
Credit Scoring After Short Sale and Foreclosure
The other question that I get from people considering a short sale is how it will impact their credit. There is a lot of misleading information that come from Realtors, as well as online forums about the impact on Credit Score.. On many occasions you will hear that a short sale is far better for your credit than getting foreclosed on. This is incorrect! A Credit Score. in a short sale or a foreclosurehave the potential to be about the same. Maybe marginally better in a short sale.
According to Fair Issac (www.MyFICO.com) a company that provides analytic, decision making and Credit Scoringservices for financial service companies a Credit Scorewill go down by 40 to 110 points after being 30 days late. Further, the scoring drop will increase to 70 to 135 points after 90 days late on a mortgage payment.
The average scoring drop in a short sale, foreclosure or deed in lieu is 85 to 160 points. You need to keep in mind that in both short sales and foreclosureit is possible that the Credit Scoredrop could be closer to 200-300 points.
Credit Scoringfactors vary from individual to individual. The scoring change is heavily dependent on where the credit score was before the negative event took place. Both a short sale and foreclosure are considered a loan that was not paid as agreed.
What happens to your Credit Scorein each of these events could be different than someone else who goes through the same financial event. Unfortunately, most of the time the higher the Credit Scorethe greater the decrease from where you started.
When trying to decide whether a short sale is right for you don’t be fooled into making the decision under false hopes that yourcredit will not be impacted all that much. The biggest advantage in a short saleis the shortened time frame in which you will be able to purchase a home in the future.
One of the most important steps after going through either a short sale or foreclosure is to be conscious about trying to improve your credit standing.
Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgageinterest rates. But the key factor to watch is the relationship between stocks and bonds.
When the economy is slow and the stock market is "bearish," many investors move money out of stocks and into bonds and mortgage-backed securities. This causes mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered "bullish." Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.
My team and I keep a close eye on mortgage interest rates at all times in an effort to alert our clientele of opportunities to obtain lower financing. Let us know if you have any questions for us.
*Rates are subject to change due to market fluctuations and borrower's eligibility. Payment amounts do not include amounts for taxes and insurance. Actual payments will be higher.
For professional use only. Not intended for consumer distribution.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added or removed from his distribution list, contact him at the telephone numbers provided, or reply to this email. Your request will be immediately honored. to be added to his distribution list please register at : http://budurl.com/RigisterNowCP
CLOSING TECHNICAL SIGNAL: The sideways pattern is still intact as support held again today.
MARKET WRAP: The Bond markets spent most of the session in positive territory but by the end of the session the gains were moderate as Stock markets rallied near the close of trading. Early in the session Bonds fell after some decent economic numbers from weekly claims, as they fell below the psychological level of 400K and GDP was a bit higher than expected. The 3.5% coupon wound up gaining 9bp to end at 102.38 while the price of the 10 year T Note fell slightly despite solid auction results. Stocks rode the roller coaster trading well into positive territory this morning, then falling into thered but closed with solid gains. The Dow gained 143.08 to 11,153.98, the tech heavy Nasdaq lost 10.82 to end at 2,480.76 and the S&P 500 Index rose 9.34 to 1,160.40. Gold finished at $1,617.30/oz. down 80 cents while oil settled at $82.14/barrel up 93 cents. Tomorrow's economic data includes Core PCE (inflation gauge), Chicago PMI and Consumer Sentiment.
There are not many things that can negatively impact your credit score more than a foreclosure or short sale. In fact one of the more common untruths you will hear from many Realtors is that short sales don’t impact your credit scores like foreclosures do. This is absolutely WRONG!
If you fail to pay your mortgage during a short sale the credit score impact will be nearly identical to a foreclosure according to My FICO the governing body for credit scoring.
Some Real Estate agents will paint a short sale as your ticket to the Promised Land and a foreclosure as a ticket to financial misery for the rest of your life.
They do this of course because they want you to list the property with them as a short sale. A true Real Estate professional should be going over all possible financial options with you and not just looking to put money in their wallet.
There are of course advantages to doing a short sale but a bettercredit score is not one of them unless you are able to complete a short sale without missing mortgage payments. The sad truth is that most but not all of the time a lender is not going to grant short sale approval unless you are behind in your mortgage payments. From a lender’s perspective if you are able to continue paying your mortgage why should they grant you a short sale?
The advantages of a short sale vs a foreclosure center around the time you will be able to purchase a home again in the future. You will be able to buy a home after completing a short sale much quicker than a foreclosure.
If you can show extenuating circumstances of why you had to do a short sale or lost your home to foreclosure you may be able to get a loan sooner. Some of the acceptable hardships that could factor into a lenders decision are divorce, loss of a job and unexpected medical expenses.
Another advantage of a short sale is how future employers, as well as other types of creditors look at you in the future. Having aforeclosure on your resume is not something an employer is going to look at favorably. In a short sale you have at least attempted to live up to your debt and not just walk away.
Owning a home again after a foreclosure/short sale
One of the most important steps you can take to getting back into the home ownership arena after a foreclosure is to work on increasing your credit scores. There is no doubt that building your credit score after a foreclosure or short sale is a difficult task. On average you can expect your credit score to drop between 150-200 points so you will have a lot of work to do!
Two or the most important things you can do to raise your score is to pay your bills on time and keep your credit card bills below the maximum levels.
Keep your employment stable
One of the things lenders look for with borrowers especially after a short sale or foreclosure is employment stability. Unless you have the opportunity to move into a position that offers a much higher pay you will be better off sticking with the job you have. The lender is going to want to see you are grounded with work and not changing jobs.
Rebuild your savings after foreclosure
Lenders are also going to want to see that you have squirreled away some money. Working on saving any extra money so that your nest egg is built back up becomes important. A six month reserve is a safe bet to show lenders that you have a fall back plan should you happen to become unemployed.
Owning a home again after short sale or foreclosure is certainly achievable is you work diligently towards getting your financial house in order!
Home owners struggling to make mortgage payments are often turning to doing a short sale as a means of escaping their debt.
If you are not familiar with the term, a short sale is when a bank or mortgage lender agrees to discount a loan balance because of a financial hardship on the part of the borrower. The home owner sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds from the sale to the lender.
One of the most important considerations when pursuing a short sale of your home is to make sure that the debt has been canceled!
There is always a sense of great relief when a short sale approval comes from the bank. Often times it is months of waiting and the uncertainty can wear on anyone that has gone through the process.Short sales are anything but short!
All of the short sales I have been involved with are with the help of a local attorney who works with the buyers during the short sale process. The relationship has been tremendous and my seller clients have been the beneficiaries of our team work.
One of the things I have been able to count on is the fact that the attorney has gotten a release of debt from the lender.
This point is crucial for you to understand because there are lots of Realtors out there who are representing sellers in short sales that do not know anything about debt removal.
What has been coming to light recently is that a number of lenders are selling unpaid mortgages to collection agencies which in some states have years to come after you for a collection of this unpaid debt. Some of these collection agencies have been able to win court judgments where they can collect through repayment plans and even garnish your wages if necessary!
Can you imagine hiring a Realtor to get a short sale approval for you only to find out years later that there was no release of your debt. I am sure you would not be a happy camper!!
These short sales where the debt has not been released is opening up opportunities for companies and investors that specialize in preying on people who did not know any better. This is big business and is known in Real Estate circles as “scratch and dent”.
There is some relief in sight for some folks under the new Home Affordable Foreclosure Alternatives Program (HAFA). This new short sale program aims to prevent banks that hold second-lien loans from pursuing collections from homeowners after the short sale.
Under this HAFA program sellers will receive notice that their service company has steered part of the sales proceeds to secondary lien holders in exchange for release and full removal of their liens. It is important to understand however, that this release would apply only to short sales done through the Home Affordable Foreclosure Alternatives program. Not all lenders will be participating in this program.
Above all else if you are doing a short sale make sure your representative gets the lender to sign off on a complete removal of debt on your property!
CLOSING TECHNICAL SIGNAL: The Bears pushed MBS lower today after the Bearish Evening Pattern formed on Friday. But the losses were moderate compared with the drubbing that Treasury securities took. Look for sideways to lower for MBS.
MARKET WRAP: Talk that European officials said that the European Investment Bank (EIB) would issue special bonds and buy up distressed bonds helped to rally Stocks today and weighed on the Bond markets throughout the session. But the losses in MBS were moderate after the Federal Reserve announced it would be buying newly issued Mortgage Bonds in the open market. The Fed statement announced this last week but today's details were able to stem the losses further. The 3.5% coupon fell 22bp to end at 102.56. Stocks rallied on the above news. The Dow surged 272.38 to 11,043.86, the S&P jumped 26.52 to 1,162.95 while the Nasdaq rose 33.46 to 2,516.69. Oil gained 39 cents to $80.24/barrel - Gold finished lower to$1,629/oz down $10.80. Tomorrow Consumer Confidence will be reported.
Last Week in Review: The Fed met, and inserted a “twist” into things.Forecast for the Week: A full week of economic reports is ahead, including news on inflation, the state of the economy, consumer confidence, and more.View: No one wants to get a bad rap, especially online. Check out Part 2 of our series on improving your online persona.
Last Week in Review
"Twist and shout." The Fed inserted a “twist” into the market last week, but only time will tell if their decision will be cause for shouting. Read on to learn what the Fed did, and what this could mean for home loan rates.The week began with speculation that the Fed would announce “Operation Twist” after its two-day meeting of the Federal Open Market Committee. What is Operation Twist? Essentially, Operation Twist is where the Fed sells its holdings of short-term securities and Notes and then purchases longer-term Notes and Bonds in order to try and lower longer term rates even further.And Operation Twist is exactly what the Fed announced, but their announcement came with some key surprises:
First, the Fed’s statement was more strongly worded than expected, as the Fed said that there remains “significant” risks to the downside for the US economy.
Second, the funding for Operation Twist was larger than expected, coming in at $400 Billion.
Third, the Fed said they will reinvest principal payments on their current holdings of agency debt back into Mortgage Backed Securities…which led to a huge rally in the Bond Market Wednesday, while Stocks took a nose dive.
So what does all of this mean for home loan rates? The Fed’s statement has heightened pessimism, fear, and concern...and normally those sentiments help Bonds (including Mortgage Bonds, to which home loan rates are tied) improve as investors seek a safe haven for their money. But it’s important to understand that even if Bonds improve, home loan rates may not improve much further.Why? It is basic supply and demand: lenders’ pipelines have been overflowing with people wanting to refinance or purchase a home and take advantage of the historically low rates we’ve seen. This level of volume flowing into the system has already created a backlog of work for lenders, which means they may not pass along all the gains we are seeing in the Bond Market onto their rate sheets.The bottom line is that home loan rates remain near historic lows, and now is a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients.
Forecast for the Week
Economic data will impact trading throughout the week by giving investors a broad look at the economy:
Housing will be first up with New Home Sales on Monday. Last week's housing data was mixed with lower than expected Housing Starts but Existing Home Sales came in on the positive side. Pending Sales will also be reported on Thursday.
The week will also give us a read on how consumers are feeling in this weakening economy.Consumer Confidence will be released on Tuesday and Consumer Sentiment will be delivered on Friday.
Weekly Initial Jobless claims will also be closely watched on Thursday. The job markets continue to be a drag on the economy as each week over 400,000 people are claiming unemployment benefits.
The big news this week will be the government's report on Gross Domestic Product (GDP), which will be released Thursday. With the economy slowing, GDP will be on the radar screen for signs of recessionary numbers. Also important will be Wednesday’s Durable Goods Orders, which gives us an update on consumer and business buying behavior on big-ticket items.
Investors will also be closely watching the inflation figures within the Core Personal Consumption Expenditure, which is the Fed's favorite gauge of inflation and will be reported on Friday.
In addition to those reports, investors will be closely watching the movements in the Stock Market after last week's plunge. The big questions will be: How low can Stocks go? And, are we in a bear market or just a correction phase?Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.As you can see in the chart below, Bonds rallied last week, though they did give back some of their gains on Friday. I’ll be watching both Stocks and Bonds closely this week to see which way the markets move.
Chart: Fannie Mae 3.5% Mortgage Bond (Friday Sep 23, 2011)
The Mortgage Market Guide View...
What Does the Internet Say About You?Part 2: Simple Steps to Improve Your Online PersonaYour online persona is a lot like a credit score. It’s already out there whether you check it or not. And other people can review it at any time.The similarities don’t end there. Like a credit score, you can review your online persona and work to improve it…so when people like potential clients look at it, they’ll see what you want them to see.Step One: Evaluate Your Online PersonaIn order to know what your online persona looks like, you have to actually check it. So start by opening your web browser to a search website such as Google.com, Yahoo.com, Ask.com, AltaVista.com, Lycos.com, or Microsoft’s new Bing.com. Then simply type in your name and hit search. Scan through the first two or three pages to see what items are coming up most often, and make note of any negative news that you’d like to get removed.You can also do more specific searches. For example, you can type your name in parentheses along with your email address, the name of your college, your job title, a hobby, or even other people’s names. For example, you could type “your name + friend’s name” or “your name + college name.” You may be surprised what you find with some of these specific searches.Once you’ve searched your name on one site, open another and do the same thing. You’ll probably find a number of similarities, so you only need to check a few different sites to get an idea of what the Internet says about you. Remember to take specific notes about false or unflattering information. You’ll want to write down what it is, where it appears, and why it shouldn’t be there.Finally, don’t forget to search for videos and images! After all, one of your friends may have posted photos and tagged you in the photo without you realizing it. You can use some of the same sites listed above—only this time, click the video or image search button before you search for your name.Step Two: Remove Anything NegativeLike your credit score, if you find information on the Internet that is inaccurate or inappropriate, your first step should be to try to get it removed. This is where those diligent notes from step one will come in handy.First, if you found something unflattering that you actually posted in the past, remove it yourself. For example, if you posted pictures or stories on an old blog, go back and remove them. In addition, take the time to go through any websites or social networking sites where you control the information. Maybe you have a blog, website, or social networking site that features pictures and text that you post. Go back through the information to make sure you still want people to see or read it. If not, remove it immediately…even if it didn’t show up in the search you conducted.Second, if you found information on other websites that you think should be removed, contact them right away. Start with the websites that have the worst (most egregious or most inaccurate) information. Using a polite but firm tone, explain what content you found on their site, why it’s a problem, and then specifically ask them to remove that information from their site. Be as specific as possible. If the information is false, say that. If the information is private and used without permission, say that. You may even want to include a link to the material to make sure they can quickly find the problematic information that you’re asking them to remove.It’s a Marathon…Not a SprintRemember, the Internet has a long memory. So it may take some time for those negative elements to stop showing up in searches. But by removing them, you can help make sure that even if they do show up in a search, people won’t be able to actually view the detailed information when they try to click the link.When you combine the steps above with the process of adding new more professional content to your website, blog or social media sites, you’ll be able to continually improve your online persona!Economic Calendar for the Week of September 26 - September 30
Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Mon. September 26
10:00
New Home Sales
Aug
NA
298K
Moderate
Tue. September 27
10:00
Consumer Confidence
Sept
NA
44.5
Moderate
Wed. September 28
08:30
Durable Goods Orders
Aug
NA
4.1%
Moderate
Thu. September 29
08:30
Jobless Claims (Initial)
9/24
NA
NA
Moderate
Thu. September 29
08:30
Gross Domestic Product (GDP)
Q2
NA
1.0%
Moderate
Thu. September 29
08:30
GDP Chain Deflator
Q2
NA
2.4%
Moderate
Thu. September 29
10:00
Pending Home Sales
Jul
NA
-1.3%
Moderate
Fri. September 30
08:30
Personal Income
Aug
NA
0.3%
Moderate
Fri. September 30
08:30
Personal Spending
Aug
NA
0.8%
Moderate
Fri. September 30
08:30
Personal Consumption Expenditures and Core PCE
Aug
NA
0.2%
HIGH
Fri. September 30
08:30
Personal Consumption Expenditures and Core PCE
YOY
NA
1.6%
HIGH
Fri. September 30
09:45
Chicago PMI
Sept
NA
56.5
HIGH
Fri. September 30
10:00
Consumer Sentiment Index (UoM)
Sept
NA
57.8
Moderate
Christian is a Full Service Mortgage Banker who can lend nationwide. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added or removed from his distribution list, contact him at the telephone numbers provided, or reply to this email. Your request will be immediately honored. to be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
Credit scores are one of the largest factors that lenders use in evaluating whether or not to lend money to a borrower. Credit scores are designed to measure the risk of someone defaulting by taking into account various factors in a person’s financial history.
If you are considering purchasing a home one of the things you want to be sure of is the accuracy of your credit report. The economic down turn of the last five years has vastly changed the mortgage landscape all across the country.
If you ask any mortgage broker they will tell you that things have changed in the mortgage industry on a monthly basis. Given the increase in foreclosures and short sales lenders have increased their standards when evaluating the potential for default of every borrower.
One of the tools that lenders use to evaluate the borrower to repay a loan is what’s know as their FICO score. The FICO score was developed by the Fair Issac Corporation. The company was founded in 1956 and their scoring programs are often used to assist lenders in managing credit accounts, detecting credit fraud and automating lending decisions. The FICO score is a standardized approach that helps lenders deliver decisions on loans in an efficient manner.
FICO scores can range from 300 to 850 with 850 being the maximum possible score. According to theFICO scoring systemthere are five factors that determine a borrowers score. Using these guidelines can help you improve a credit score!
35% —A borrowers payment history carries the most weight – Late payments on bills including a mortgage, credit card or automobile loan, can cause a consumer’s FICO score to go down. Paying your bills according to the contract you signed will over time help improve a consumer’s FICO score.
30% — The borrowers credit utilization – The ratio of current outstanding debts such as credit card balances to the total available revolving credit ( your credit limit). You can improve your FICO score by paying off debts and lowering your utilization ratio. The closing of existing revolving accounts will typically adversely affect this ratio and therefore have a negative impact on your FICO score.
15% — The length of credit history – As your credit history gets longer, assuming you pay your bills on time, it can have a positive impact on your FICO score.
10% — The types of credit used (installment, revolving, or consumer finance) – There is some credit given to having a history of managing different types of credit.
10% — A recent search for credit or amount of credit obtained recently- If you have multiple credit inquiries as a consumer seeking to open new credit, such as credit cards, retail store accounts, or personal loans, it can hurt an your score. Applying for lots of new credit in a short period of time is also viewed as risky and can cause a drop in an individual’s score. What should be noted however is that if you are shopping for a mortgage or auto loan over a short period of time you should not experience a decrease in your scores as a result of these types of inquiries. So if you are buying a home and apply to multiple lenders and they all do their credit checks you are not supposed to be penalized.
FICO scores do not take into account a borrower’s salary, employment history, where they work, rental agreements, child support or other such obligations or interest rates on any current loans.
Generally speaking a credit scorethat is over 740 is often considered an excellent credit score. A score of 720-739 is a great credit score and 680–719 is considered good, but these credit scores will carry a Fannie Mae pricing hit depending on the LTV (Loan to Value). A score that falls between the range of 620-679 will usually make the lender scrutinize the file further and it will carry a larger price adjustment. Having a score that falls between 580-619 will typically disqualify you from getting the best rates and in some cases you will not qualify for a Fannie Mae Loan due to the layering of Risk. A score below 580 will make many lenders question whether or not they want to do business with you and most won’t. Fortunately I work for a company that has relationship with other portfolio lenders that will look at these loans but at a steep price they may do them.
There are actually three companies that report credit score to lenders. They are Equifax, Experian and Transunion. The scoring of these agencies can often vary quite a bit. Each of the bureaus collects different information on the borrowers which can change the final score. Given how the credit scores can differ from the various agencies if you are falling on the edge of one of the credit ranges it may be prudent to apply to more than one lender. For example if you had a score of 675 at one agency it is quite possible you could be 700 somewhere else which could give you a better rate! It should be noted that the credit scoring model was slightly altered in 2009 and could effect your score either up or down by 20 points.
In the new model credit problems and issues will be ranked according to number and magnitude more specifically than before. The new FICO scoring system also focuses less on how many accounts a borrower has and more on the amount of balances carried.
The statistical models that are used for generating credit scores are subject to federal regulation. The Federal Reserve Board’s Regulation B (implementing the Equal Credit Opportunity Act), expressly prohibits a credit-scoring model considering “prohibited biases” such as race, national origin, sex, religion and marital status. The law also states that credit-scoring models must be empirical and statistically sound. In addition, if a borrower is denied a loan based on credit, the lender must state to the specific reasons for the denial. A statement that the person did not score high enough is not acceptable. The reasons for denial must be specific. For example there were too many late payments of 60 days or longer.
So how does one go about improving their credit score to get the best rates that lenders offer? The answers are actually pretty simple!
Pay all of your bills on time every month.
Pay off all of your existing debt.
Unused credit cards should not be closed. This can sometimes lower your credit score.
Do not open a bunch of new credit card accounts in a short period of time.
A major portion of the FICO credit score is set by the ratio of credit used to credit limit. What was happening was they would increase the score by simply increasing your credit limit. Some of the credit-repair agencies, for a fee, would report to the credit bureaus that they have opened an account with a high credit limit. The customer could not actually use this account but it would improve the customer’s FICO credit score due to lowering the balance-to-credit-limit ratio. This is no longer allowed!
When you are starting your home search and getting your pre-approval from a lender one of the other things you should do is get a copy of your credit report from each of the three report bureaus. As a consumer you are allowed to get one free credit report each year from Equifax, Experion and TransUnion, or I will pull one and do a FREE credit analysisfor you. This way you will know exactly what is needs to be done in order to get approved for a Mortgage.
With this knowledge is hand you should be well armed to position yourself for the best mortgage rate possible and increasing your credit score!
Also go to: www.YourCreditRepairCompany.com for more information concerning your credit or to start the 90 credit make over program.
CLOSING TECHNICAL SIGNAL: The 3.5% ends higher and bounced off session lows as the 2nd layer of support held at 100.50. The Bond came 12bp from that level and was pushed higher adding a positive tone. However, we did close below the 25-DMA 2 days in a row. The 100.50 level will be closely watched next week, if the Bond falls below it, prices could dip further.
MARKET WRAP: Bond markets saw modest gains today despite a rise in the Equity markets. But as we said the gains were limited as investors were still spooked by the higher inflation number from Thursday's CPI. The 3.5% ended at 101.06 up a meager 6bp. But the key was that MBS were able to rally back from session lows. Stocks had a 5-day win streak for the first time since the week of June 27. The Dow rose 75.91 to end the week at 11,509.09, the S&P 500 Index rose 6.90 to 1,216.01 while the Nasdaq gained 15.24 to 2,622.31. Oil ended at $87.96/barrel down $1.44. There are only a few economic reports next week so investors will focus on the 2-day Federal Open Market Committee (FOMC) meeting that begins on Tuesday and ends Wednesday afternoon at 2:15pm ET with the monetary policy statement. Have a great weekend!
Mortgage Broker West Palm Beach shows A 1-year chart shows Bonds are unable to break above key resistance created nearly one year ago. Home Mortgage Rates can't improve further unless or until the Bond can do so. With President Obama set to talk next Thursday on jobs, and feelings that the Fed may do even more to help the economy - don't bet on lower rates just yet.
CLOSING TECHNICAL SIGNAL: Things change quick.. MBS closed poorly and well off the best levels of the day. Now we are watching the 25-day MA as a floor to protect against further losses.
MARKET WRAP: The Bond markets started the day to the upside but as the trading day progressed investors sold to cash in some chips after the big gains that have occurred during the month of August. That coupled with better than expected economic data pushed Bonds lower. The 3.5% coupon fell 34bp to end at 100.59. Stocks closed the month out to the upside though losses were steep in August. The Dow gained 53.58 to 11,613.53, the S&P 500 rose 5.97 to 1,218.89 while the Nasdaq was up 3.35 to 2,579.46. Oil settled at $88.81/barrel nearly unchanged on the session but off 7.2% for the month. Tomorrow's data includes the ISM Index, Weekly Claims and Productivity.
The Authors name is Tyler J. Coffin and I he the author of The QR Code Marketing Guide and CEO of Coffin Media Works.
The QR Code Marketing Guide is designed to keep you, the reader, up to date on:
The newest QR Code Technology
Essential tools for marketing with QR Codes
The best/worst QR Code generators and readers
How-To’s for QR Code marketing
Tutorials for creating successful QR Code marketing campaigns
QR Code best practices
Common mistakes to avoid when marketing with QR Codes
QR Code news and notes
And much more!
Tyler's Back ground:
Marketing, marketing and more marketing. He has done it all. He has worked as a top performer at a successful mid-sized marketing company, to a position as a digital sales manager at the media powerhouse of NBC Universal, to a jack-of-all-trades at an international start-up, and finally working for himself as an entrepreneur.
Over the years he has worked with his clients to deliver website design strategies, internet marketing techniques (SEO, PPC, SEM), traditional marketing techniques including print & television, and most recently, social media marketing. These different marketing mediums are beginning to converge now more than ever. His background has put him on the perfect track to deliver to you a comprehensive guide to QR Code marketing.
Why QR Codes?
Using QR Codes in marketing is such a new medium and very few are qualified or have the experience to share their knowledge with you. The ones who do have the knowledge typically do so to promote a single product or service. I plan to share my knowledge of ALL QR Code generators and scanners, which will give you, the reader, the best and most unbiased QR Code information on the web.
As a marketer or business owner you will not only enjoy this QR Code eBook but will also enjoy being an active member of The QR Code Marketing Guide community. If you have questions, concerns, comments or just want to share a success story, you can go to the facebook page at: http://www.facebook.com/TheQRCodeMarketingGuide
This map displays the results of the Case-Shiller home price index for June 2011. Nineteen of the 20 cities in the index saw home price increases, with Portland remaining flat. Overall the 20 cities combined for an increase of 1.1% in June. Nationally, home prices rose 3.6% in the second quarter
CLOSING TECHNICAL SIGNAL: The sideways to lower pattern is still intact.Next week's jobs and manufacturing data will be the keys as to how markets trade.
MARKET WRAP: Federal Reserve Chairman Bernanke spoke today from the annual symposium in Jackson Hole, Wyoming and said that the Fed did have the tools to battle the weakening economy but stopped short of laying out plans for a QE3. Mr. Bernanke said that the actions will be addressed at the next FOMC meeting scheduled for Sept 20 - 21. Stock investors cheered his words and pushed Stocks markets higher during the session. The 3.5% coupon rose 3bp to 100.81 but was well off the session highs. The Dow jumped 134.72 to 11,284.54, the Nasdaq rose 60.22 to 2,479.85 while the S&P 500 was higher by 17.53 to 1,176.80. In after hours trading oil was near unchanged at $85.49/barrel. Next week's economic calendar is chocked full of important events with readings on manufacturing, inflationand the closely watched jobs reports. The government Non-farm payroll report is set to be released Friday where it is expected that there were 75K jobs created in August. Have a great weekend!
When it comes to buying a home, consumers can no longer shop for a mortgage based simply on lowest interest rate quotes. Today's homebuyers need good advice from an experienced, educated mortgage professional who has their best interest in mind.
Consumers need to beware of anyone who quotes them an interest rate over the phone or the Internet without asking anything about them, their family, their finances or their lifestyle. Besides market conditions, a mortgage rate is based on a long list of criteria that are unique to an individual's financial situation.
Look at the list below of 26 different criteria that affect a mortgage rate. How can anyone quote consumers an interest rate they can trust without a thorough knowledge of their unique financial situation?
1. Loan Amount 2. LTV 3. CLTV 4. Credit Score 5. Credit History 6. Escrow Preference 7. Closing Date 8. Loan Type 9.Property Type 10. Occupancy Type 11. Residency 12. Available Assets 13. Asset Seasoning 14. Co-borrowers 15. Debt Ratio 16. Housing Ratio 17. Improvements Needed 18. Employment Type 19. Employment History 20. Documentation Type 21. Paying Points 22. Length of Loan 23. Relocation 24. Seller Contributions 25. Gifts 26. Cash-out
Mortgage Interest Rates*
Rates as of Thursday, 25th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility. Payment amounts do not include amounts for taxes and insurance. Actual payments will be higher.
For professional use only. Not intended for consumer distribution.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added or removed from his distribution list, contact him at the telephone numbers provided, or reply to this email. Your request will be immediately honored. to be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
Today's Initial Jobless Claims report showed an increase in the number of new unemployment claims last week. As a result, the report came in worse than expected and above the key 400,000 line. Overall, this leading indicator on the labor market shows that things remain weak.
The chart below shows the weekly initial jobless claims since the beginning of 2011 on a seasonally adjusted basis
This year, colder temperatures aren't the only thing fall is going to bring. There are several important deadlines you need to be aware of, especially if you're thinking of buying or refinancing a home. Here's a summary of what you need to know.
Expiring September 30, 2011:
Super Conforming Mortgage Loan Limits
When the economic crisis began a few years ago, the government temporarily increased loan limits in high cost areas across the country because many lenders would have refused to make those loans without the government covering the risk of default. But now these loan limits are due to expire, and this is a big deal because mortgage rates are typically much lower when they are supplied through Fannie Mae and Freddie Mac.
If you are looking to finance a large loan through the government, it's important to act quickly. Get in now or you could be paying higher rates.
That's because when these loans are no longer allowed under Fannie Mae and Freddie Mac, they will be considered non conforming (Jumbo) loans, and these usually have a much higher rate because they will be backed by private investors and not Fannie Mae or Freddie Mac.
(Continued on Page 2)
Finance News Take Care When Paying Medical Bills
Make sure your insurer will pick up its part of the tab.
By Cameron Huddleston, Kiplinger.com
I was about to write a check to pay for a medical bill when I realized that I probably didn't owe the amount shown on the invoice.
The bill was for a health screening that was performed in late May. I provided my health insurance card at the time of test. But I had a feeling that the lab that actually analyzed the screening samples hadn't bothered to submit its claim to my insurance company before sending me a bill. That's because the bill arrived shortly after the test was done, and I hadn't received a statement from my insurance company that a claim had been submitted.
(Continued on Page 2)
Did You Know?
Did you know that the USDA's MyPlate (http://www.choosemyplate.gov) website is a comprehensive, free, educational resource complete with healthy eating tips and dietary guidelines?
Ever feel like the old song "Time's a Wastin'" – or that there just aren't enough hours in the day?
Here are some tips to help you streamline your day and keep you on time every time:
Tip 1: Learn to say "No" and don't over commit.
Tip 2: Keep your keys in the same place.
Tip 3: Don't check your email or voicemail right before you're trying to leave for an appointment or scheduled activity.
Tip 4: Set your clock and your watch ahead at least 5 minutes.
Tip 5: Don't let your gas tank get below 1/4 tank. You don't want an emergency pit stop to keep you from being on time.
3rd Quarter
Book Review
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich
By Timothy Ferriss
Most everyone would love to find a way to work less and play more, but is a 4-hour workweek really possible?
According to Timothy Ferriss, author of The New York Times Bestseller, The 4-Hour Workweek, a 4-hour work week is not only possible, he gives you a blueprint for getting there. Now with more than 100 pages of new content, you'll find tips and case studies from readers who have doubled their income, explanations of common sticking points, and notes on how to apply this blueprint to any economic climate. Whether you want to travel the world or just work less, this is a great book for learning how.
According to a U.S. News survey, what is the average debt that a medical student graduates medical school with?
$179,980.00
$136,550.00
$98,462.00
$184,493.00
$141,132.00
For answer, see the last page.
Quote of the Day
"Excellence is not a skill. It is an attitude." – Ralph Marston
Mortgage News(Continued from cover)
In similar fashion, the FHA loan limits that were increased in 2008 due to the economic downturn are also scheduled to revert back to lower loan limits (those determined under the Housing and Economic Recovery Act of 2008) for loans insured by FHA on or after October 1, 2011. According to a brief released by the Department of Housing and Urban Development in May, this means that "FHA loan limits would likely decline in 669 of the 3,334 counties or county equivalents that are eligible for FHA insurance." If you are planning to finance a large loan through FHA, contact me to see if this upcoming drop in loan limits could impact you.
Expiring October 31, 2011: Home Path Buyer Incentive Offer
Fannie Mae recently extended its HomePath Buyer Incentive Offer, in which buyers may be eligible to receive up to 3.5% in closing cost assistance, through October 31, 2011. To qualify, your initial offer must have been submitted on or after June 14, 2011 and you must close by October 31, 2011. In addition, buyers and/or selling agents must request the incentive upon submission of the initial offer in order to be eligible, and only buyers purchasing a HomePath property as their primary residence qualify.
It's important to note that offers submitted after September 15, 2011 may be difficult to close by the October 31, 2011 deadline.
If you think any of these deadlines could impact you, give me a call or send me an email. I'm happy to answer any questions you have.
Finance News(Continued from cover)
All of this sunk in as I was about to put pen to paper. So I picked up the phone, called the lab and asked whether it had attempted to get my insurance company to pay for the procedure. "No," the customer service representative said. Just as I thought.
So before you pay a medical bill, make sure the claim has been submitted to your insurance company. Don't ignore the bill – you don't want credit collectors knocking on your door. Just make a quick call to the medical facility that sent the bill or to your insurer to find out whether you're really on the hook for the full amount.
Your grill is an excellent tool for making dessert. Here's a recipe that's a surefire (pun intended) crowd pleaser.
Ingredients:
- 4 slightly under-ripe peaches split
in half and the seed removed
- 3/4 cup balsamic vinegar
- 3 tbsp sugar
- Freshly ground black pepper
(very coarse)
- Vegetable oil
Directions:
In a saucepot, combine the balsamic vinegar and sugar. Place the pot on the hottest part of the grill and allow the mixture to simmer until it reduces by half and slightly thickens. Remove the pot from the heat and set aside. Lightly brush cut sides of peaches with vegetable oil. Place cut side down onto a medium-hot grill and cook for 4 minutes. Remove peaches from grill, brush with balsamic glaze, return to grill (cut side down) and cook for another 2 minutes. Remove peaches from grill, garnish with coarsely ground pepper and serve. Nice additions to this dessert would be a dollop of either crème fraiche or mascarpone cheese, a drizzle of almost any fine liquor, or crumbled Amaretti cookies.
No stranger to professional kitchens, Kirk Leins currently devotes most of his time to cooking instruction, food writing, and producing television. You can visit Kirk's website atwww.NoTimeToCook.com.
Home News White Distilled Vinegar: How Sweet It Can Be!
White distilled vinegar may be one of the most versatile products, not to mention environmentally friendly and downright cheap to buy. Not only can you do some healthy cooking with vinegar, but you can also use it for cleaning, laundry, and so much more!
There really are over 1,001 ways to use vinegar, as the web sitevinegartips.com attests. Here are just 5 of the many great ways they suggest you can make your home cleaner with white distilled vinegar:
Drains: Pour in 1 cup baking soda, then one cup hot white distilled vinegar. After 5 minutes, run hot water down the drain.
Coffee and Teacup Stains: Mix equal parts white distilled vinegar with salt or baking soda. Scrub the cups gently and rinse clean.
Calcium Deposits on Faucets: Soak a cloth or paper towel in white distilled vinegar. Wrap the stained area tightly and let sit for a few hours or even overnight.
Microwave: Mix 1/2 cup white distilled vinegar and 1/2 cup water in a microwave-safe bowl and then bring it to a rolling boil inside the microwave. This will not only loosen baked-on food, but odors will also disappear. Wipe clean.
Ant Infestation: Spray undiluted white distilled vinegar wherever ants may be coming in.
One important thing to note: Don't use white distilled vinegar on marble because the acid can damage the surface. That being said, white distilled vinegar is an amazing solution for so many household needs. What's more, you will be amazed how many toxic and expensive products you will no longer need to buy.
Street Smarts Safer Driving...There's an App for That!
A recent study by the National Highway Traffic Safety Administration found that distracted driving was the leading cause in 448,000 accidents and 5,474 highway deaths in 2009, a 16% increase from 2008.
Drivers today are often distracted by incoming text messages on their cell phones. The good news is that technology can also help solve this problem. New services – like DriveSafe.ly – have sprung up that eliminate the need to read text messages AND the need to respond.
Here's how it works. You download an application to your phone. Then, when you get ready to drive, simply turn the application on. When you receive a text message, the application actually reads it to you…automatically…and out loud.
It then instantly sends a reply stating that you are driving and will respond as soon as you are able to do so safely.
If you receive a lot of text messages while driving or if you have a teenager of driving age, this could be one of the most important safety steps you do this year.
After all, this simple application could save your life or the life of someone you know.
Page 3
Thank You!
We wish to thank our clients who have been kind enough to refer business to us. We appreciate the opportunity to provide excellent service to your family, friends, and co–workers.
Facts and Figures I Scream, You Scream, We All Scream for Ice Cream
Ice cream is a favorite of many people all throughout the year. In fact, according to the International Dairy Foods Association (IDFA), more than 90 percent of households in the United States consume ice cream and related frozen desserts.
But did you know that until 1800, ice cream was a rare dessert only for the elite? Or that ice cream was a morale booster during World War II, with each branch of the armed forces trying to serve the most ice cream to its troops? Here are some other fun facts and figures about this delicious treat:
· The origins of ice cream date back to the second century B.C., although there is no date or inventor that is undisputed as the creator of ice cream.
· May 12, 1777 marks the first advertisement for ice cream in the U.S., in the New York Gazette.
· During the summer of 1790, President George Washington spent around $200 for ice cream, according to a Chatham Street, New York merchant.
· Italian immigrant Italo Marchiony produced the first ice cream cone in 1896 in New York City, and he was given a patent in December 1903.
· The top five individual flavors in the U.S. by share of market segment are: vanilla (27.8%), chocolate (14.3%), strawberry (3.3%), chocolate chip (3.3%) and butter pecan (2.8%).
For more fun facts and figures about ice cream, visit www.idfa.org.
Trivia Answer: E. $141,132.00
If you know anyone who is looking to buy, sell or refinance a home, please forward their name and telephone number to us. We will happily provide the same high level of service that we have provided to you. The greatest compliment you could possibly give us is the referral of your friends and family.
Christian is a Full Service Mortgage Banker who can lend nationwide. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added or removed from his distribution list, contact him at the telephone numbers provided, or reply to this email. Your request will be immediately honored. to be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
Do you want to make sure that everything reported on your credit report is 100% accurate and verifiable?
Do you want to hold the credit bureaus and creditors accountable for their reporting?
Do you want a solution to fixing your credit report problems?
At Credit Justice Services we are constantly evolving our processes to better assist you, the consumer, in achieving the credit score you deserve. We are now offering the The 90-Day Credit Makeover Plus™, a new service which allows us to dispute negative credit trade lines directly with the creditors (these are the companies that place negative credit on your credit report -- collections agencies, banks, credit card companies, etc). This new and exciting product allows consumers to verify the validity of their accounts by demanding that the creditors produce a contract or signed document within 30 days of dispute under the Fair and Accurate Credit Transactions Act 312.
Credit Justice Services is one of a few credit restoration companies that have this software fully implemented since the act was entered into law on July 1, 2010. This new law has increased our deletion ratio greatly since the original creditors who are placing the inaccurate information on your credit report DO NOT have the documentation to prove it. Because of this lack of documentation the original creditors MUST remove the negative trade lines from your credit report, period!
Call now at 561-316-6800 and ask about this new and exciting product ONLY offered by Credit Justice Services, a name you can trust!
West Palm Beach, FL -- (SBWIRE) -- 08/22/2011 -- It seems like everyone in Florida is jumping on the mortgage refinancing bandwagon. Maybe you're thinking about it yourself? After all, with rates as low as they are, the promise of lowering your monthly payments, sometimes significantly, is a great attraction for many homeowners.
But before you sign on the dotted line, there are a few things you should know about the way refinancing works so you don’t make a mistake that could wind up costing you big time.
"With refinancing as popular as it is right now, Florida residents have to be even more careful about shopping for the best loan," says Christian Penner - Mortgage Broker West Palm Beach , a , Florida based Mortgage Consultant. "Even the most attractive offer can wind up being a disaster once you realize how much the loan is really costing you."
* You should get a significantly lower rate for refinancing to make sense. Don't rush to refinance unless it's truly worth your while. If you're working with a mortgage broker rather than going it alone, you can be assured that they're bringing you the best offers out there. If you're going it alone, you'll have to do the legwork for yourself.
* Consolidating unsecured debt with a refinance loan can be a dangerous idea. You may not be in financial trouble now, but if in a few years things change, instead of simply missing a credit card payment or two, you'll now be in danger of losing your home as well.
* Your credit score counts... big time. If you've had credit problems in the past like a bankruptcy, it might make sense to wait a while for your credit score to recover before trying to refinance. Most lenders make it hard for people with less than perfect credit to get the best deals. But, again, if you choose to let an expert like mortgage broker west palm beach get involved in the process, he can often find loan options that most homeowners didn’t even know existed - which can save you thousands over the long haul. We can also work with you on a complete credit makeover that can take less than 90 days.
Mortgage Broker West Palm Beacha Florida - based mortgage expert Christian Penner specializes in providing mortgage information to Florida residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.
Christian Penner is available for interviews and will welcome all your mortgage related questions.
Last Week in Review : What does the wild market mean to home loan rates?
Forecast for the Week : The markets will be waiting with bated breath. Read why!
View : How do you maintain focus on your work? Two tips to achieve success!
Last Week in Review
"It's a small world after all." The wild ride over the last few weeks continued again last week, as the US markets danced to the tune of the European debt and economic crisis. Here's what it means to home loan rates here in the US.
Even inflation hasn't stopped Bonds. Last week, consumer inflation and producer inflation came in above expectations. Remember inflation is the archenemy of Bonds and home loan rates, so hotter inflation would normally negatively impact Bonds and home loan rates. But even last week's inflation news didn't impact Bonds.
Seeing Bonds dismiss that inflation news indicates that the Bond market senses that the economy (which is already hardly growing) is in a very vulnerable position with things in Europe uncertain and gloomy at best. And when the situation deteriorates further, it may push many world economies into a recession.
It's all about Europe. US Bonds - including Mortgage Bonds - have been seen by the markets as a safe haven bid on existing and growing fears that Europe's debt crisis is coming to a head…and global growth, which is already anemic, is being threatened further. Not helping the situation was the news last week that there is no concrete solution to the European debt problems. Last week, French President Nicolas Sarkozy and German Chancellor Angela Merkel met. However, following the meeting, Sarkozy stated that "EuroBonds can be imagined one day, but at the END of the European integration process, not at the BEGINNING."
That was a pretty clear message to the financial markets that the creation of a EuroBond is not within the remote daydreams of Germany, which is the strongest nation in Europe and who will determine whether it gets created or not. So let's be clear, the German taxpayers want no part of a EuroBond, since it would use the surplus that Germany has worked hard to create to fund the poor habits and debt of weaker and less responsible member States.
The bottom line is that the fear and uncertainty right now is pretty overwhelming, which is supporting Bonds and home loan rates. But Bonds are at "nose bleed levels" and sentiment can change very quickly. If you or someone you know has been considering refinancing or purchasing a home this is an ideal time to look at their unique situation. It only takes a few minutes to look at the options that are available right now.
New Home Sales will be released on Tuesday. This report comes after a drop in Existing Home Sales, Housing Starts and Building Permits. It would be nice to see some improvement - but the market expectation isn't high.
Gross Domestic Product for the 2nd quarter will be released on Friday, and investors will be waiting with bated breath for signs of weakening in the US economy. The initial read for Q2 came in low. If the second read is weak, Stock markets could move a leg lower and give Bonds a boost. But the report isn't released until Friday, so Stocks and Bonds will fight for investing dollars throughout the week.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result.
As you can see in the chart below, Bonds and Home loan rates improved last week but tapered off a bit on Friday. Stock markets fell once again last week on fears of a double-dip recession. That coupled with a plunge in the Philly Fed Index along with weak housing numbers fueled a rally in the Bond markets that saw Mortgage Bonds hit fresh 2011 highs before giving up some of those gains on Friday.
Overall, however, home loan rates are still at some of the most attractive levels ever seen - making now a great time to consider a refinance or home purchase.
-----------------------
Chart: Fannie Mae 3.5% Mortgage Bond (Friday Aug 19, 2011)
The Mortgage Market Guide View...
Focus to Finish: A Mindset By Jason W. Womack, MEd, MA
When it's time to sit down and work on your work, how do you hold your focus?
Over the past 5 months I've been working on the book. In that time, I've tried it ALL! I've planned extra days in hotel rooms, blocked time on the calendar, hired editors, I've even kept the calendar completely clear for one 3-day stretch, all to buy a little extra time to write.
Here's what I've learned (or deepened my understanding of) over the past several months:
1. I've got to have a solid "start point." When I sit down to write, it helps a TON if I've already decided WHAT I'm going to draft in that session. Now, EVERY time I do this, the topic is expanded on, but...I don't waste any time getting started. I sit down. I write.
2. I (and this is me, what about you?) need to have some finish line in mind. And, it can't be time. I don't know why, but saying to myself, "I'm going to write until 3:45pm" just doesn't get me going as much as, "I'll take my next break after I've written 3,000 words."
A starting line. A finish line. Maybe that's why I like triathlons so much!
Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.
Economic Calendar for the Week of August 22 - August 26
Date
ET
Economic Report
For
Estimate
Actual
Prior
Impact
Tue. August 23
10:00
New Home Sales
Jul
310K
312K
Moderate
Wed. August 24
08:30
Durable Goods Orders
Jul
2.0%
-1.9%
Moderate
Thu. August 25
08:30
Jobless Claims (Initial)
8/20
400K
408K
Moderate
Fri. August 26
08:30
Gross Domestic Product (GDP)
Q2
1.1%
1.3%
Moderate
Fri. August 26
08:30
GDP Chain Deflator
Q2
2.3%
2.3%
Moderate
Fri. August 26
10:00
Consumer Sentiment Index (UoM)
Aug
55.4
54.9
Moderate
The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is without errors.
As your mortgage professional, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.
Mortgage Market Guide, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Market Guide, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.
Mortgage Broker West Palm Beach talks about Bonds and Home loan rates improved last week but tapered off a bit on Friday. Stock markets fell once again last week on fears of a double-dip recession.
That coupled with a plunge in the Philly Fed Index along with weak housing numbers fueled a rally in the Bond markets that saw Mortgage Bonds hit fresh 2011 highs before giving up some of those gains on Friday.
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and ra
tes are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
I have some exciting news! I wanted to let you know that amidst all of the negative economic news, home loan rates have actually rallied and reached near record low levels. My team is having a lot of fun helping our clients take advantage of this opportunity!
What does this mean to you?
You could reduce your monthly payment and interests costs, shorten the term of your loan or even borrow additional funds for alternate expenses or investment options.
If you’re looking at being in a home short-term or carrying a mortgage short-term, then there is some very attractive short-term money available. It’s really kind of surreal to be writing about interest rates this low!
Mortgage Broker West Palm Beach offers one possible option, which has become a very popular strategy, involves refinancing to a shorter-term loan for a payment that is comparable to your current payment. This is a great way to take advantage of the interest rate differential. Another popular option is the “no-cost refinance,” which is just as good as it sounds! Feel free to contact me to discuss whether or not one of these options might benefit you.
If you are like some who have been concerned with home values declining, I want you to know that there are programs available that allow you to still take advantage of today’s low interest rates. If this applies to you, then I’d welcome the opportunity to chat.
Acording to Mortgage Broker West Palm Beach One thing is for sure, you don’t want miss this chance to save money. If you’ve already taken advantage of the historic rates that have been offered, then why not spread the good word to your friends, family, co-workers and neighbors? We love meeting new clients!
Please don’t hesitate to contact me with any thoughts or questions—and of course to see what options might exist for you.
Summertime Eating Tips, Part 2 What Are You Really Eating? Last month, we shared six concepts that will help you improve your eating habits not only during the summer, but anytime of year. This month we want to explore one of those concepts even further so you can learn more about what you're really eating!
Say Cheese 12 Tips for Taking Perfect Pictures Summer is officially here, and whether you are counting the days to a much needed vacation or getting ready to attend a family reunion or friend's wedding, one thing is clear. Your camera is going to be working overtime this season!
When buying a new home, the first thing that a potential home buyer needs to do is secure financing from Mortgage Brokers West Palm Beach. Many home buyers don’t realize that prior to beginning your home buying process, realtors require a financing “letter of approval” before they will meet with a new client.
For this reason, obtaining a home mortgage loan with a low interest rate is extremely important. Every Mortgage Brokers West Palm Beachwill use a different set of criteria to assign an interest rate. The problem is if you don’t have the right information you may not get the lowest interest rate possible and spend thousands of dollars more than you needed to over the average 15 to 30 year mortgage.
That’s why we want to give you 3 secrets Mortgage Brokers West Palm Beach know about finding you the lowest interest rate so that you can save thousands and move in to the home of your dreams.
One home buyer recounts their lending experience and regrets that they didn’t make an effort to look for Mortgage Brokers West Palm Beach earlier, “We were first time home buyers and had no idea how home mortgage loans worked. We went to our local bank, applied for a loan, and got our approval letter to start looking at homes. We found the house of our dreams and need to put in an offer in immediately. I wish I had done more research initially because we didn’t have time to find new financing and we ended up with a loan .75% above the national average! I wish I would have gone to Mortgage Brokers West Palm Beach who could have assisted me through this process and I would have gotten a much lower rate.”
Rebuild Your Credit Score – Experienced Mortgage Brokers West Palm Beach know that your credit score is one of the main factors in determining your interest rate. If you have bad credit, consider first contacting the 3 main credit bureaus to resolve any discrepancies. If you are applying for a joint home loan and only one person has bad credit, then consider having the individual with good credit apply solely, this may help decrease the interest rate. Be sure to contact Mortgage Broker West Palm Beach first so he can direct you in the right direction.
Dealing With Your Outstanding Debt – Before applying for a home loan, never pay off any collection accounts or make a major credit card purchase – as both of these scenarios can negatively affect your interest rate and can jeopardize your loan approval. Before you start dealing with any discrepancies on your credit report or your outstanding debt, consult Mortgage Brokers West Palm Beachimmediately for their expert advice on credit counseling, so that you get the best home buying plan to achieve the loan rate available.
Employment – Being gainfully employed is also an extremely important factor when lenders are determining your loan approval. According to
Mortgage Brokers West Palm Beach, many lenders will call your work references to verify your income, job title and length of time of your employment. This information needs to be very specific, as it could affect your ability to get approved. Be sure to let your supervisor or HR department know you are in the process of purchasing a home and to expect a lender’s phone call.
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added his distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
I have some exciting news! I wanted to let you know that amidst all of the negative economic news, home loan rates have actually rallied and reached near record low levels. My team is having a lot of fun helping our clients take advantage of this opportunity!
What does this mean to you?
You could reduce your monthly payment and interests costs, shorten the term of your loan or even borrow additional funds for alternate expenses or investment options.
If you’re looking at being in a home short-term or carrying a mortgage short-term, then there is some very attractive short-term money available. It’s really kind of surreal to be writing about interest rates this low!
Mortgage Broker West Palm Beach offers one possible option, which has become a very popular strategy, involves refinancing to a shorter-term loan for a payment that is comparable to your current payment. This is a great way to take advantage of the interest rate differential. Another popular option is the “no-cost refinance,” which is just as good as it sounds! Feel free to contact me to discuss whether or not one of these options might benefit you.
If you are like some who have been concerned with home values declining, I want you to know that there are programs available that allow you to still take advantage of today’s low interest rates. If this applies to you, then I’d welcome the opportunity to chat.
Acording to Mortgage Broker West Palm Beach One thing is for sure, you don’t want miss this chance to save money. If you’ve already taken advantage of the historic rates that have been offered, then why not spread the good word to your friends, family, co-workers and neighbors? We love meeting new clients!
Please don’t hesitate to contact me with any thoughts or questions—and of course to see what options might exist for you.
While the US economy is still recovering, millions of Americans are taking advantage of short sale homes and foreclosures in their area. Whether you are looking to buy your first or second home having the right Mortgage Brokers West Palm Beachcan help you save thousands of dollars.
The problem is that many people have no idea where to start when it comes to mortgage financing. In fact, there are thousands of web pages in Google for the search “Mortgage Brokers West Palm Beach.” That’s why I want to share 3 ways a West Palm Beach Mortgage Broker can secure a low-interest rate mortgage and help you purchase the home of your dreams.
One unprepared first-time home buyer shares about his frustrating home buying experience, “I was looking to purchase a home in my local area but I didn’t really know where to start. I contacted a realtor who said I first needed to secure financing before they would show me homes in the area. It took me weeks just to find the right Mortgage Brokers West Palm Beachonline, to get my paper work together and finally secure financing. I wasted so much time initially and could have been in my new home months earlier had I known where to start.”
Start you home buying experience off right by hiring a Mortgage Brokers West Palm Beachsecrets before buying your next home and you could save time and money!
Secret 1: Always Start With a Mortgage Brokers West Palm Beach – Many homebuyers begin the home buying process with their real-estate agent but in reality it’s always best to start by contacting a mortgage broker first. Many real-estate agents won’t even work with a home buyer until they have secured financing.
Secret 2: Finding a Reliable West Palm Beach Mortgage Broker – There are several ways to find a Mortgage Brokers West Palm Beach but only a few that will actually find you a reputable one. The best way to find a Mortgage Brokers West Palm Beachis through an online search. Online searches allow you access to their website or Google Places where you can find additional home buying resources, mortgage calculators and even customer reviews. Review their online presence and portfolio, and if you feel comfortable with their qualification call or send an inquiry via email.
Secret 3: Gather Relevant Documents – Don’t waste your time in the first meeting with your Mortgage Brokers West Palm Beach, so be prepared and bring copies of your tax returns, 1099, W-2’s, and asset statements. This way, the Mortgage Brokers West Palm Beach can get to work on getting you the best interest rate that day.
If you need a Mortgage Brokers West Palm Beach for your next home purchase, who has online references, resources, and who can help you purchase your dream home, then we invite you to contact Christian Penner at (561) 316-6800 or email at christian@christianpenner.com.
While the US economy is still recovering, millions of Americans are taking advantage of short sale homes and foreclosures in their area. Whether you are looking to buy your first or second home having the right West Palm Beach Mortgage Broker can help you save thousands of dollars.
The problem is that many people have no idea where to start when it comes to mortgage financing. In fact, there are thousands of web pages in Google for the search “West Palm Beach Mortgage Broker” That’s why I want to share 3 ways a West Palm Beach Mortgage Broker can secure a low-interest rate mortgage and help you purchase the home of your dreams.
One unprepared first-time home buyer shares about his frustrating home buying experience, “I was looking to purchase a home in my local area but I didn’t really know where to start. I contacted a realtor who said I first needed to secure financing before they would show me homes in the area. It took me weeks just to find the right West Palm Beach Mortgage Broker online, to get my paper work together and finally secure financing. I wasted so much time initially and could have been in my new home months earlier had I known where to start.”
Start you home buying experience off right by hiring a West Palm Beach Mortgage Broker secrets before buying your next home and you could save time and money!
Secret 1: Always Start With a West Palm Beach Mortgage Broker – Many homebuyers begin the home buying process with their real-estate agent but in reality it’s always best to start by contacting a mortgage broker first. Many real-estate agents won’t even work with a home buyer until they have secured financing.
Secret 2: Finding a Reliable West Palm Beach Mortgage Broker– There are several ways to find a West Palm Beach Mortgage Broker but only a few that will actually find you a reputable one. The best way to find a West Palm Beach Mortgage Broker is through an online search. Online searches allow you access to their websiteor Google Places where you can find additional home buying resources, mortgage calculators and even customer reviews. Review their online presence and portfolio, and if you feel comfortable with their qualification call or send an inquiry via email.
Secret 3: Gather Relevant Documents – Don’t waste your time in the first meeting with your West Palm Beach Mortgage Broker, so be prepared and bring copies of your tax returns, 1099, W-2’s, and asset statements. This way, the West Palm Beach Mortgage Brokercan get to work on getting you the best interest rate that day.
If you need a West Palm Beach Mortgage Brokerfor your next home purchase, who has online references, resources, and who can help you purchase your dream home, then we invite you to contact Christian Penner at (561) 316-6800 or email at christian@christianpenner.com.
Start you home buying experience off right by following these 3 insider secrets before buying your next home and you could save time and money!
Follow Me On:
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added his distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
While the US economy is still recovering, millions of Americans are taking advantage of short sale homes and foreclosures in their area. Whether you are looking to buy your first or second home having the right West Palm Beach Mortgage Broker can help you save thousands of dollars.
The problem is that many people have no idea where to start when it comes to mortgage financing. In fact, there are thousands of web pages in Google for the search “West Palm Beach Mortgage Broker.” That’s why I want to share 3 ways a West Palm Beach Mortgage Broker can secure a low-interest rate mortgage and help you purchase the home of your dreams.
One unprepared first-time home buyer shares about his frustrating home buying experience, “I was looking to purchase a home in my local area but I didn’t really know where to start. I contacted a realtor who said I first needed to secure financing before they would show me homes in the area. It took me weeks just to find the right West Palm Beach Mortgage Broker online, to get my paper work together and finally secure financing. I wasted so much time initially and could have been in my new home months earlier had I known where to start.”
Start you home buying experience off right by hiring a West Palm Beach Mortgage Broker secrets before buying your next home and you could save time and money!
Secret 1: Always Start With a West Palm Beach Mortgage Broker – Many homebuyers begin the home buying process with their real-estate agent but in reality it’s always best to start by contacting a mortgage broker first. Many real-estate agents won’t even work with a home buyer until they have secured financing.
Secret 2: Finding a Reliable West Palm Beach Mortgage Broker– There are several ways to find a West Palm Beach Mortgage Broker but only a few that will actually find you a reputable one. The best way to find a West Palm Beach Mortgage Broker is through an online search. Online searches allow you access to their websiteor Google Places where you can find additional home buying resources, mortgage calculators and even customer reviews. Review their online presence and portfolio, and if you feel comfortable with their qualification call or send an inquiry via email.
Secret 3: Gather Relevant Documents – Don’t waste your time in the first meeting with your West Palm Beach Mortgage Broker, so be prepared and bring copies of your tax returns, 1099, W-2’s, and asset statements. This way, the West Palm Beach Mortgage Brokercan get to work on getting you the best interest rate that day.
If you need a West Palm Beach Mortgage Brokerfor your next home purchase, who has online references, resources, and who can help you purchase your dream home, then we invite you to contact Christian Penner at (561) 316-6800 or email at christian@christianpenner.com.
FREE Home Buying Guide Reveals Insider Tips Other Mortgage Brokers Don't Want You To Know...
If you're planning to buy your next home, your first home, that dream home, a condo, vacation home, investment property or looking to refinance in Florida or the surrounding areas, you will find that this site is a complete resource full of insider secrets that will allow you to choose the loan program best suited to your financial needs.
I make it fast and easy for all kinds of people-including first-time homebuyers, small business owners, and homebuyers with perfect or less-than-perfect credit to get the loan you need for the home you want.
Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my , Florida office at 561-316-6800. I am here to help you with all your mortgage needs.
Got a Quick Question You Want Answered Today?
Click the "Ask A Question" button below to send us a message by email or feel free to call my , Florida office at 561-316-6800.
Before you leave, make sure you review the Florida Home Buying Resources, Insider Reports and Mortgage Calculators. All are designed to help guide you through the home buying process so you avoid making costly mistakes.
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added his distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process.
Don't buy or lease an auto! Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.
Don't move assets from one bank account to another! These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to...
To receive the complete contents of this special report titled "7 Things You Should NOT Do When Applying For A Home Loan" and get vip access to the rest of our FREE home loan success reports, simply fill out the fields here and I will send you your first insider secret by email immediately.
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added his distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
All lenders and brokers are required to provide you with a Good Faith Estimate detailing the services you may be required to get and pay for in connection with your loan.
This Good Faith Estimate will give you a way to compare loans and see what your closing costs would be. Below you will find a list of coded names that describe the different fees, which may be associated with the services previously mentioned. These codes and names correspond to those found on the HUD-1 Settlement Statement.
Broker Fees
700 - Sales/Broker's Commission:
If you use a real estate agent or broker to buy a house, the seller (not you) of the house will usually pay a fee to the real estate agent/broker. This commission is usually a percentage of the sales price.
Lender Fees
801 - Loan Origination Fee
A fee to cover the lenders costs for obtaining financing and administrative costs, most often expressed as a percentage of the loan amount (1% = 1 point). Can be a flat fee and/or paid by sellers and third parties.
To receive the complete contents of this special report titled "Special Report Exposes All Of The Terms And Fees That Are Charged To Buyers At Settlement" and get vip access to the rest of our FREE home loan success reports, simply fill out the fields here and I will send you your first insider secret by email immediately.
Monthly Mortgage Payment
This calculator will compute your Total Monthly Mortgage Payment. Your monthly payment will include principal and interest and an escrow account for property taxes and homeowners insurance. This is also known as PITI . These figures will be based on the term of your loan (amortization) and the amount of money you use for a down payment which is known as the loan to value (LTV). Go To Calculator
Monthly Payment Amortization
This calculator will compute your Monthly Payment, the Total Interest you will pay over the term of the loan plus the total amount you will actually pay for borrowing the money. Simply input your information into the required field. You can check the "Show Amortization Schedule" box to see a breakdown of payments. Go To Calculator
What Size Loan Can I Qualify For?
This calculator will help you determine the maximum loan you may be able to qualify for. Please note that these figures are guidelines only and you should always check with your lender to determine the best program to fit your needs. Your mortgage loan qualifications will be based on your income, current debts and of course your credit ratings. This calculator will also show you how much will you save on taxes by being a homeowner. Go To Calculator
Should I Refinance?
This calculator will show if refinancing your current mortgage is appropriate by taking your current Monthly Payment and Total Interest and comparing it to your Refinancing Savings when you refinance your current mortgage at a lower interest rate. You can also request to finance Closing Costs to see how many months it will take to break even. Go To Calculator
Buying vs Renting Comparison
This calculator will assist you in deciding whether it is better to rent or purchase a home. This is done by computing the costs of renting versus the costs of buying a home. There are many things included in the calculation such as interest, property taxes, tax savings, appreciation, closing costs, etc. Go To Calculator
How To Pay Off My Mortgage Early
You can pay off your existing mortgage sooner than it due date by simply applying additional payments to your principal balance. This calculator will show how the additional monthly payment will help you to pay off your current mortgage within a specified number of years. It will also show your interest savings if you make an additional payment each month from now and until your mortgage is paid off. Go To Calculator
How Much Of My Payment Is Interest vs Principal?
For the first years of your mortgage most of your mortgage payment is going to pay interest and very little is going to actual principal. This calculator will help you to determine the principal and interest breakdown on any given payment number. Just enter the loan's original terms (principal, interest rate, number of payments and monthly payment amount) and the desired payment number to calculate principal and interest breakdown. Go to Calculator
Monthly Mortgage Payment
This calculator will compute your Total Monthly Mortgage Payment. Your monthly payment will include principal and interest and an escrow account for property taxes and homeowners insurance. This is also known as PITI . These figures will be based on the term of your loan (amortization) and the amount of money you use for a down payment which is known as the loan to value (LTV). Go To Calculator
Monthly Payment Amortization
This calculator will compute your Monthly Payment, the Total Interest you will pay over the term of the loan plus the total amount you will actually pay for borrowing the money. Simply input your information into the required field. You can check the "Show Amortization Schedule" box to see a breakdown of payments. Go To Calculator
What Size Loan Can I Qualify For?
This calculator will help you determine the maximum loan you may be able to qualify for. Please note that these figures are guidelines only and you should always check with your lender to determine the best program to fit your needs. Your mortgage loan qualifications will be based on your income, current debts and of course your credit ratings. This calculator will also show you how much will you save on taxes by being a homeowner. Go To Calculator
Should I Refinance?
This calculator will show if refinancing your current mortgage is appropriate by taking your current Monthly Payment and Total Interest and comparing it to your Refinancing Savings when you refinance your current mortgage at a lower interest rate. You can also request to finance Closing Costs to see how many months it will take to break even. Go To Calculator
Buying vs Renting Comparison
This calculator will assist you in deciding whether it is better to rent or purchase a home. This is done by computing the costs of renting versus the costs of buying a home. There are many things included in the calculation such as interest, property taxes, tax savings, appreciation, closing costs, etc. Go To Calculator
How To Pay Off My Mortgage Early
You can pay off your existing mortgage sooner than it due date by simply applying additional payments to your principal balance. This calculator will show how the additional monthly payment will help you to pay off your current mortgage within a specified number of years. It will also show your interest savings if you make an additional payment each month from now and until your mortgage is paid off. Go To Calculator
How Much Of My Payment Is Interest vs Principal?
For the first years of your mortgage most of your mortgage payment is going to pay interest and very little is going to actual principal. This calculator will help you to determine the principal and interest breakdown on any given payment number. Just enter the loan's original terms (principal, interest rate, number of payments and monthly payment amount) and the desired payment number to calculate principal and interest breakdown. Go to Calculator
Follow Me On:
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added his distribution list, contact him at the telephone numbers provided. To be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
A new Property Site for Brad Ball with Admiral Cove Realty:
Rare Double lot Beautiful Mediterranean 5 Bedroom Home for Sale in in Admiral's Cove! This single story home on Eagle Drive was built in 1999 on .6 acres. It has marble floors, granite kitchen, huge yard, large marble baths, heated pool/spa, 1bed/1bth guest cottage, 4 car garage, a natural gas.
Rare Double lot Beautiful Mediterranean 5 Bedroom Home for Sale in in Admiral's Cove! This single story home on Eagle Drive was built in 1999 on .6 acres. It has marble floors, granite kitchen, huge yard, large marble baths, heated pool/spa, 1bed/1bth guest cottage, 4 car garage, a natural gas.
This free report will show you the tax benefits of owning your own home as well as:
How to get pre-approved and find the right program to suit your needs.
The end of this report will show you how to avoid the mistakes other people make when shopping for a mortgage.
How to Own a Home for Less Than your Current Rent
You may often hear people say buying a home will help you pay less taxes. First we must look at your comfort levels for a monthly payment...
To receive the complete contents of this special report titled "How To Finally Stop Renting And Own A Home Of Your Own" and get vip access to the rest of our FREE home loan success reports, simply fill out the fields here and I will send you your first insider secret by email immediately.
You can find out by asking yourself some questions:
Do I have a steady source of income (usually a job)?
Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable?
Do I have a good record of paying my bills?
Do I have few outstanding long-term debts, like car payments?
Do I have money saved for a down payment?
Do I have the ability to pay a mortgage every month, plus additional costs?
If you can answer "yes" to these questions, you are probably ready to buy your own home...
To receive the complete contents of this special report titled "The Top Mortgage Questions You Must Ask Before Applying For A Mortgage" and get vip access to the rest of our FREE home loan success reports, simply fill out the fields here and I will send you your first insider secret by email immediately.
This report contains extremely valuable information designed to help you avoid costly mistakes when obtaining a mortgage. Although some of the tips disclosed may not make me popular with the other mortgage lenders, I am more concerned that you have all the information you need to make and informed decision when shopping for a mortgage.
You Are About To Discover All The Information You Need To Make An Informed Decision About Obtaining A Mortgage and getting the Lowest Mortgage Rates in Florida
My name is Christian Penner. I want to thank you for taking the time to visit my Blog, where I guarantee you'll find plenty of helpful information to assist you in purchasing your new home or refinancing your current mortgage. I am a Mortgage Brokers West Palm Beachserving , Florida and the surrounding areas.
Purchasing a home is most likely the largest financial transaction of your life. Unfortunately, most people enter into this transaction blindly and make mistakes that may cost them tens of thousands of dollars over the lifetime of their loan.
Although sharing these secrets may not make me popular with the other Florida mortgage lenders, I am more concerned that you have all the information you need to make an informed decision when shopping for a mortgage. So, I have created a free guide that contains extremely valuable information designed to help you avoid costly mistakes when navigating the mortgage loan process.
To receive this free guide and other home buying tips, simply fill out the fields below and I will send you your first insider secret by email immediately.
If you're planning to buy your next home, your first home, that dream home, a condo, vacation home, investment property or looking to refinance in Florida or the surrounding areas, you will find that this site is a complete resource full of insider secrets that will allow you to choose the loan program best suited to your financial needs.
I make it fast and easy for all kinds of people-including first-time homebuyers, small business owners, and homebuyers with perfect or less-than-perfect credit to get the loan you need for the home you want.
Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my , Florida office at 561-373-0987. I am here to help you with all your mortgage needs.
Got a Quick Question You Want Answered Today?
Click the "Ask A Question" button below to send us a message by email or feel free to call my , Florida office at 561-373-0987.
Before you leave, make sure you review the Florida Home Buying Resources, Insider Reports and Mortgage Calculators. All are designed to help guide you through the home buying process so you avoid making costly mistakes.
Mortgage Brokers West Palm Beach gives you a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process.
Don't buy or lease an auto! Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.
Don't move assets from one bank account to another! These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to...
To receive the complete contents of this special report titled "7 Things You Should NOT Do When Applying For A Home Loan" and get vip access to the rest of our FREE home loan success reports, simply fill out the form below and we will send you an INSTANT ACCESS link to the email address you provide below.
This report contains extremely valuable information designed to help you avoid costly mistakes when obtaining a mortgage. Although some of the tips disclosed may not make me popular with the other mortgage lenders, I am more concerned that you have all the information you need to make and informed decision when shopping for a mortgage.
Christian Penner Area Manager
Mortgage Loan Originator
Phone: 561-373-0987
Fax: 561-935-4142
License: NMLS#368289
Christian@ChristianPenner.com
www.christianpenner.com
Rate versus Price Reduction
Everyone wants to get the best deal when buying a home. However, Mortgage Broker West Palm Beach has some good advice for potential buyers who are waiting to see if home prices come down a little more, the wait could cost them.
Let's look at an example, from Mortgage Brokers West Palm Beachto see why. Say a home buyer wants to buy a home that costs $300,000. But the buyer wants a better deal on the home, so she delays a transaction until the home is reduced by $10,000. If, in the meantime however, rates were to rise .75% to 6.00% and the buyer financed 90% of the purchase price, the amount of total payments over a 30-year term would be over $35,000 more than paying the $300,000 purchase price and locking in the 5.25% interest rate. In other words, the buyer would save $10,000 only to end up paying $35,000 more.
Now these prices and rates are just for the sake of example. But according toMortgage Brokers West Palm Beachthe point is that home prices are already very affordable…and rates are still low for now. So in the end, waiting for a home price to reduce may end up costing you much more than you expect if rates rise.
Mortgage Interest Rates for Fixed Rate Mortgages*
Rates as of Monday, 15th August, 2011:
Term
Conforming
APR
Payment per
$1,000
Jumbo
APR
Payment per
$1,000
30-yr Fixed
360
4.125%
4.208%
$4.85
4.625%
4.711%
$5.14
15-yr Fixed
360
3.250%
3.329%
$4.35
4.25%
4.334%
$4.92
FHA 30yr Fixed
360
4.000%
4.082%
$4.77
%
0.000%
$0.00
FHA 5yr Arm
360
2.875%
2.952%
$4.15
%
0.000%
$0.00
5-yr Arm
360
3.250%
3.329%
$4.35
3.000%
3.078%
$4.22
5-yr Arm Int Only
360
3.375%
3.455%
$2.81
3.125%
3.203%
$2.60
*Rates are subject to change due to market fluctuations and borrower's eligibility.
Christian is a Full Service Mortgage Banker. He is also approved with numerous lending sources throughout the country. He provides conventional, non conforming, jumbo, construction perm, FHA and VA loans. He assists customers with great credit and no credit. He can assist individuals and professionals with their financing needs whether buying, selling or refinancing real estate. If he can be of assistance or to be added or removed from his distribution list, contact him at the telephone numbers provided, or reply to this email. Your request will be immediately honored. to be added to his distribution list please register at : http://www.dbnurture.com/optin.php?u=cpenner
The week began with speculation that the Fed would announce “Operation Twist” after its two-day meeting of the Federal Open Market Committee. What is Operation Twist? Essentially, Operation Twist is where the Fed sells its holdings of short-term securities and Notes and then purchases longer-term Notes and Bonds in order to try and lower longer term rates even further.
This year, colder temperatures aren't the only thing fall is going to bring. There are several important deadlines you need to be aware of, especially if you're thinking of buying or refinancing a home. Here's a summary of what you need to know. 
I was about to write a check to pay for a medical bill when I realized that I probably didn't owe the amount shown on the invoice. 
Most everyone would love to find a way to work less and play more, but is a 4-hour workweek really possible? 
"Excellence is not a skill. It is an attitude." – Ralph Marston
In similar fashion, the FHA loan limits that were increased in 2008 due to the economic downturn are also scheduled to revert back to lower loan limits (those determined under the Housing and Economic Recovery Act of 2008) for loans insured by FHA on or after October 1, 2011. According to a 
All of this sunk in as I was about to put pen to paper. So I picked up the phone, called the lab and asked whether it had attempted to get my insurance company to pay for the procedure. "No," the customer service representative said. Just as I thought. 
White distilled vinegar may be one of the most versatile products, not to mention environmentally friendly and downright cheap to buy. Not only can you do some healthy cooking with vinegar, but you can also use it for cleaning, laundry, and so much more!
A recent study by the National Highway Traffic Safety Administration found that distracted driving was the leading cause in 448,000 accidents and 5,474 highway deaths in 2009, a 16% increase from 2008.
Ice cream is a favorite of many people all throughout the year. In fact, according to the International Dairy Foods Association (IDFA), more than 90 percent of households in the United States consume ice cream and related frozen desserts. 
Everyone wants to get the best deal when buying a home. However
