Wednesday, September 21, 2011

Rates still at their all time lows

What is all the hullabaloo about low interest rates?
Well they are low for sure and depending on your frame of mind and security, this may in fact be a time to look.
Things to consider time your going to be in your home

Job and its stability

Spread from your rate now to the lower rate.

No one knows, but where you are in relation to where you want to be is the question.http://www.willrudloff.com/

Monday, September 19, 2011

Mortgage Rates Bill Fisher earlier Mortgage Commentary

We in the mortgage biz watch interest rates day-to-day, even hour-to-hour, as we strive to provide clients with well-reasoned choices. But compared to the task of predicting where rates will be in a few months, our short-term job is easy. Not only do we have a shaky Greek sovereign debt to worry about, we have an even less predictable U.S. political process to worry about—and the 2012 campaign is upon us. It seems to me, as a result, a good time for clients to arrange the financing now that may need to be nailed down in the foreseeable future.willrudloff.com

Saturday, September 17, 2011


It’s not about position, but Credibility

Our influence has less to do with our position or title than it does with the life we live. It’s not about position, but production. It’s not the education we get, but the empowerment we give, that makes a difference to others.

-The Maxwell Leadership Bible

Tips from some of Mr. Will from Jacksonville’s readings

Monday, September 12, 2011

Very Touching from a dear Friend when he lost his sister

We lost our Little girl several years ago and here is a song that a friend dedicated to his sister when she passed.

Credit and Collecting Debt from TY Crandall Elite Credit earlier today

The Fair Debt Collection Practices act is a law designed to protect consumers against unruly creditors and collection companies.
They have a ton of rights under this act which will help stop creditors and debt collectors in their tracts.
We use this law to help locate creditor and debt collector violations, and then use those violations against them to force the removal of negative credit items.
Take a look at what creditors and collectors CAN'T do by law, and see how many of these violations you have seen before...
Debt collectors are not allowed to tell others details about the consumer including that they owe a debt, they cannot communicate with anyone other than the consumer more than once, not communicate through post card or have ANY markings on the outside of their envelope indicating they might be a debt collector.
Basically, collection companies cannot use the fact that they are a debt collector to bully you into paying.
They cannot identify themselves as a debt collector to your employer, and they cannot send things in the mail to identity they are a debt collector with the intent of embarrassing or causing other hardship to you.
Debt collectors are also not allowed to call a consumer at an unusual time or place. This includes before 8 a.m. and after 9 p.m. A debt collector cannot contact a consumer at their place of employment if they have reason to believe this is prohibited by the employer.
They are also required to immediately cease and desist contact with you if you are represented by and attorney, or if you notify them to do so in writing or notify them that you refuse to pay the debt.
Any violations within this act can be costly to the debt collector, especially in the civil and class action aspects.
Ty Crandall Elite Credit

Thursday, September 8, 2011

Is it time to Refinance

Is It Time to Refinance?
Three Questions to Consider
Leonard Baron, MBA, CPA, and author of Real Estate Ownership, Investment and Due Diligence 101

Is It Time to Refinance?Three Questions to ConsiderLeonard Baron, MBA, CPA, and author of Real Estate Ownership, Investment and Due Diligence 101

So you've read that interest rates are near historic lows and you want to figure out if you can refinance. Financing has become significantly harder to do and more expensive in the past few years, thanks to the financial crisis. But refinancing is still possible and may make financial sense.

In this article, we will run through some of the basic issues you should contemplate to help give you a framework for deciding whether to refinance. The best person to help you sort through this framework and help you reach a final decision about when to refinance is your mortgage lending professional. But doing a little homework beforehand will help you ask your mortgage professional the right questions.

Here are three questions to consider when you are thinking about refinancing:

Planning on moving? The first item to consider is whether you're going to own the house in question for at least two to four more years–the longer the better. If you're not planning on owning for at least a couple years, refinancing may not be a net benefit to you. HOWEVER: The bigger the mortgage, and the bigger the differential between your current mortgage interest rate and the rate you might get by refinancing, the more refinancing might make sense even on a shorter term basis like two years. So rather than dismiss the idea, this is a good topic to discuss with your mortgage professional in terms of your unique situation.

Can you even qualify for a refinance? It can be tough to refinance these days. If your loan-to-home-value ratio is too high–meaning that your property doesn't appraise at a high enough value in comparison to the amount that is still outstanding on your loan–it may be harder to refinance. The bank may also consider you to be a higher risk if you're self-employed, have a high debt-to-income ratio, or if you have credit issues. But the only way to know for sure is to check with your mortgage lender to examine your options.

What are the costs versus the reduction in interest rate? If you are qualified for financing, your lender will also let you know what interest rate you can secure and how much it will cost you to refinance. You can then do a rate versus loan fee comparison to see if refinancing makes sense. For example, if you refinance a $300,000 loan it might cost $6,500 once you add up points, escrow, title, appraisal, etc. If your loan is dropping by one-half of a percentage point you will save $1,500 per year, which is about $1,000 after taxes. So if you are paying $6,500 to save $1,000 per year, it will take you 6.5 years to earn your money back. That may or may not be a good deal for you, depending on how long you are planning to stay in your home. The bottom line is add up all the costs you will incur by refinancing (remember to exclude items like prepaid interest, taxes and HOA fees that you pay whether you refinance or not) and compare these to your cost savings. This will help you determine whether now is the time to refinance.

Generally speaking, it can be time consuming and challenging to properly dissect the costs versus benefits of refinancing a property. That's why it's a good idea to talk to your trusted lending professional, who understands the right questions to ask and can help you work through the details to make an informed decision.

If you have any questions about your personal situation, contact the professional who supplied you with this month's issue of YOU Magazine. Take action now, so you are protected when you need it most.

Leonard P. Baron, MBA, CPA, is a San Diego State University Real Estate Lecturer, a long-term real estate owner, author of Real Estate Ownership, Investment and Due Diligence 101 and loves kicking the tires of a good piece of dirt! At ProfessorBaron.com you can download his free "Real Estate Buying Due Diligence Checklist" under Chapter 1: Due Diligence. No sign up or registration needed–just download it!

Contributing author Wendy Mihm is the founder of FinancialRx.com, for women who are busy, competent and have it all together–except for maybe one thing: their family's finances. See more information on the website to get your financial house in order.