How to repair my credit and improve my FICO credit score!!!

How to repair my credit and improve my FICO credit score

It's important to note that repairing bad credit is a bit like losing weight: It takes time and there is no quick way to fix a credit score. In fact, out of all of the ways to improve a credit score, quick-fix efforts are the most likely to backfire, so beware of any advice that claims to improve your credit score fast. The best advice for rebuilding credit is to manage it responsibly over time. If you haven't done that, then you need to repair your credit history before you see credit score improvement. The tips below will help you do that. They are divided up into categories based on the data used to calculate your credit score.

1. Check Your Credit Report – Credit score repair begins with your credit report. If you haven't already, request a free copy of your credit report and check it for errors. Your credit report contains the data used to calculate your score and it may contain errors. In particular, check to make sure that there are no late payments incorrectly listed for any of your accounts and that the amounts owed for each of your open accounts is correct. If you find errors on any of your reports, dispute them with the credit bureau and reporting agency.
2. Setup Payment Reminders – Making your credit payments on time is one of the biggest contributing factors to your credit score. Some banks offer payment reminders through their online banking portals that can send you an email or text message reminding you when a payment is due. You could also consider enrolling in automatic payments through your credit card and loan providers to have payments automatically debited from your bank account, but this only makes the minimum payment on your credit cards and does not help instill a sense of money management.
3. Reduce the Amount of Debt You Owe – This is easier said than done, but reducing the amount that you owe is going to be a far more satisfying achievement than improving your credit score. The first thing you need to do is stop using your credit cards. Use your credit report to make a list of all of your accounts and then go online or check recent statements to determine how much you owe on each account and what interest rate they are charging you. Come up with a payment plan that puts most of your available budget for debt payments towards the highest interest cards first, while maintaining minimum payments on your other accounts.

To view the full article from myFICO.com, visit http://www.myfico.com/crediteducation/improveyourscore.aspx.

Mortgage Credit Certificate

10 Markets Where Housing Equity is Going Strong

By Gino Blefari
President & CEO
Intero Real Estate Services, Inc.
 
For quite a few years during and after the economic downturn, negative equity – when more is owed on a mortgage than a home is worth - was a real problem for homeowners. And while some markets in the U.S. haven't quite crawled completely out of the situation, others certainly have.
 
In fact, the National Association of Realtors this week released datashowing the 10 markets in the U.S. where equity has improved the greatest since the fourth quarter of 2010. They are:

1. San Jose, Calif.
2. San Francisco
3. Anaheim, Calif.
4. Los Angeles
5. San Diego
6. Boulder, Colo.
7. Honolulu
8. Riverside, Calif.
9. Cape Coral-Fort Myers, Fla.
10. Sacramento, Calif.

 It's true that in Silicon Valley and San Francisco, we've seen some of the largest increases in home prices in the last year alone, boosted by a soaring tech economy and an overall lack of inventory.
 
This is great news for homeowners and the local economies that inevitably benefit from a strong housing market. But what many watch with caution is the long-term impact on housing affordability – especially for first-time home buyers and other classes of workers that are at risk for being priced out.
 

 
 The interesting thing about these markets is that many of them are concentrated in the hardest hit areas from the housing downturn. For instance, Los Angeles, Riverside and Sacramento were all hit hard by the market decline, but have since seen sharp improvements in the last four years.
 
On the other end of the spectrum, NAR says in a blog post about the report, a number of markets that were in the bottom 10 for equity appreciation in 2006 did not see the same strong appreciation. These included Reno, Nev., Las Vegas and several Florida markets.
 
This is sort of telling about some of the ultimate truths about real estate – location and jobs are and always will be inextricably tied to the long-term health of local markets.
 
It will be interesting to see where these numbers lie at this time next year.
 

Have You Mastered the Art of Listening?

Have You Mastered the Art of Listening?By Margaret Heffernan

Many people in the business world take classes in the art of verbal communication: how to give a speech, make a presentation, chair a meeting. But the other half of the equation -- listening -- gets scant attention. At least until now. Sheryl Connelly, a futurist who works for Ford Motor Co., spends a lot of time talking and giving presentations. She's also a regular visitor to the TED conferences, where it is no surprise she likes to listen. And it was at TEDGlobal in Edinburgh this week where she talked about listening well.

1. Focus closely on the person speaking. Don't half-listen while you check your messages and schedule conferences. At any meeting -- a conference or a departmental review -- be there in full. Otherwise, you are likely to miss something.

2. Listen carefully for things you don't know. Our brains home in on what's familiar because it's easy and comfortable, and it reassures us of our intelligence. But that's no way to learn anything. Listen for new information, discontinuities, things you didn't know but could learn from. If there's nothing to be gained from this strategy, you may be in the wrong meeting.

3. Challenge yourself and what you hear. Don't just nod and accept it as a given. Ask yourself: What do I know that confirms this? What do I know that contradicts it? Let your head play an active role.

4. Be prepared to change your mind. Sherry Turkle used to think everything about computers was wonderful; now she isn't so sure. If we listen hard and ask ourselves good questions, we may travel to places we didn't expect.

5. If you find sitting still difficult, then either take notes or doodle or both. Connelly is a fantastic artist and illustrates her notes beautifully. She has volumes illustrating all her past TED attendances. Some of us aren't so gifted -- but we can doodle. All the evidence shows that both help you focus. And if you aren't focused -- why are you there?

The skills of listening, Connelly argues, are really life skills: treasuring the precious and always limited time that you have. Why waste it?

2013 CBS Interactive Inc.. All Rights Reserved.
http://www.cbsnews.com/8301-505125_162-57588909/have-you-mastered-the-art-of-listening/

5 Things Successful People Do After 5p.m.

5 Things Successful People Do After 5p.m.By Amy Levin-Epstein

(MoneyWatch) You may have read the popular post by Forbes writer Jennifer Cohen about five things incredibly successful people do before 8 a.m., which highlighted smart suggestions like visualizing their day and making their schedule top heavy. But that's not the only outside of work window in which you can pump up your productivity. Recently, I spoke to some career experts about things you can do after 5 o'clock that can help rejuvenate you and get you prepared for a top-notch tomorrow. Here are five they suggested trying:

Wrap up your dayThis includes responding to every email you received during the course of your day, says Julie Morgenstern, author of "Time Management From The Inside Out." "Do this, even if just to tell the sender that you've received their email, and will get back to them within the next day or so with an answer."

Plan for tomorrowTake a look at the rest of your work. "See what's on their schedule for the next day (and two beyond that), pull necessary prep documents and files, and have everything set to hit the ground running the next morning," says Morgenstern. And prioritize that massive To Do list. "Name your top 3 (to 6) priorities for the next day-to ensure you proactively complete those priorities, no matter what else flies at you unexpectedly," says Morgenstern. Don't forget to do the same for your team. "Plan your team's next day's priorities, and send out instructional emails or check ins."

Take time for friends and familySuccessful people invest intentional time in their personal networks, says efficiency expert Andrew Jensen. "They recognize that success at work is empty without success in their home and with their family," says he adds. The key is to make it quality time. "They actively exercise listening, while restraining from dominating the conversations," says Jensen.

They take care of themselvesInvesting in your health is always a smart personal, as well as business decision (if you're constantly sick, or even just tired, you won't function at your peak). "[Successful people] eat a healthy dinner, understanding the value of nutritiously investing into themselves and the corresponding returns they can expect. They exercise, channeling away pent up stress while strengthening their bodies and helping ensure a better night's sleep," says Jensen. While you're taking care of your body, don't forget to keep your personal finances healthy, too. "Don't let it pile up and become an increasingly stressful distraction," says Jensen.

They sleep for 8+ hoursThink staying super late is great for your career? While there are some circumstances that warrant it, in general sleep is a good career choice. "A good night's sleep is the secret weapon of highly successful people," says Alex Doman, CEO of Advanced Brain Technologies and author of "Healing At The Speed of Sound." "In the short term, a lack of adequate sleep can affect judgment, mood, ability to learn and retain information, and may increase the risk of serious accidents and injury," says Doman, adding that over time the effects may be even more grave. "In the long term, chronic sleep deprivation may lead to a host of health problems including, diabetes, cardiovascular disease, depression, and obesity."

Make these five behaviors after-hours habits, and you might find that you become efficient -- and successful -- over time.

2013 CBS Interactive Inc.. All Rights Reserved.
http://www.cbsnews.com/news/5-things-successful-people-do-after-5-pm/

Lower Your Electric Bills

Electric bills are getting more expensive every year. While switching electric suppliers might help people save money this is not always an option, especially in smaller communities. There are things you can do around the house to keep your electric bill low. 

Closing the curtains and lowering blinds on the sunny side of the house will help keep the house cooler on hot days. In the winter, it will also prevent heat from escaping out of the windows. If you like looking out your windows during the daytime, window film can filter the sun in the summer and dual pane windows will retard heat from escaping in the winter. You can also consider getting outdoor awnings and painting the house a light color to reflect the heat.

Air conditioners are the biggest user of electricity, along with heaters in the winter. A heating and cooling system accounts for more than half of your electric bill. You can increase your heating and cooling system's efficiency by having annual cleanings, checkups, and changing out the filter every month.

It is also important to keep the greenery trimmed around the air conditioner to allow air to flow efficiently. The less your heating and cooling system has to work, the less electricity it will use.

The US Department of Energy recommends all window air conditioners be placed toward the center of the room on the shady side of the house. They also need to be the right size for the room. If the unit is too small, they will not cool the room efficiently causing them to run more often. If a unit is too big, it will also have reduced efficiency causing higher electric bills, uncomfortable temperature fluctuations, and excessive wear and tear.

Raising or lowering the temperature in your home can save as much as $100 a year. When at work or asleep, turn it up so the air conditioner does not click on as often and conversely turn it down in the winter. A programmable house thermostat is a great option to control the temperature. If your house utilizes a heat pump, it is best to manually set the system to be electrically efficient.

Lastly, replace light bulbs in the house with CFL bulbs, or even LED lights if they come in the correct size for the socket. These bulbs are expensive at first, but worth the investment. A single standard incandescent light bulb can cost the same amount as it costs to run six to ten CFL bulbs, which last ten times longer.

Santa video

Make a Santa video!!!!
Have some fun and send it to your friends and family.

http://www.portablenorthpole.com/home?emst=J7hJPJNEUA_1314687_46797_7

Why You Should Consider Listing Your Home Over the Holidays

The holiday season can bring many stresses of its own without adding a home sale to the list. This can keep many sellers on the sidelines or send them pulling their houses off the market until the new year rings in.

But contrary to what you may think, this time of year can actually be a fantastic sweet spot for sellers. Holiday buyers are serious and motivated. Consumer confidence is higher than at any other time of year. And relocating families tend to have more time and reason to shop for a new home over the holidays.

Perhaps the biggest compelling reason the holidays are a good time to list your home is the simple fact that there are fewer homes on the market at this time of year, which means less competition.

In addition, limited inventory has driven up prices in many markets through the year. The national median price for existing homes was $199,200 in September, according to NAR's latest monthly statistics. That was up 11.7% from the same month a year ago and it was the 10th consecutive month of double-digit year-over-year growth.

Mortgage rates also play a factor in holiday home sales. We've been seeing a rise in rates, with Freddie Mac reporting its latest average on the 30-year fixed-rate mortgage was at 4.35%, up from 4.16% the previous week. Consecutive weekly climbs in interest rates tend to motivate buyers even more.

We know this first hand, and that's why we’ve created a special holiday program to help sellers navigate listing their home over the holidays without sacrificing their sanity or precious time with family.

Our Holiday Marketing Program is designed with seller privacy in mind. There are no for-sale signs in your yard, no lock boxes on your door, no open houses and no advertising identifying your home.

Instead, we’re offering to market your home to our sphere of serious buyers and show your home only by appointment. No fuss. No inconveniences. But you'll be able take advantage of opportunities you'd otherwise miss by waiting until the new year.

And on January 1, 2014, if your home has not sold, it will automatically convert to our exclusive home marketing program. You won't have to start from scratch.

We created this program because in our experience we know that there are a lot of opportunities for sellers over the holidays, but we understand why a homeowner would not want to deal with the stress of listing their home during this time.

If you're interested in learning more, ask an me for more information.

Happy Holidays!

Enlarge Your Living Space

Your Home - Enlarge Your Living Space - 5 Optical Illusions Tips

I am quite sure everyone wants a big and nice house with a lot of space. However we often need to live in smaller areas. This is not a big problem, as we have prepared for you some great optical illusion tips to help you make your home brighter and more spacious.

Avoid the dark colors

The secret of the comfortable and spacious interior is to use a reasonable quantity of dark colors. For example, if you choose the furnishing of the room to be in dark colors, then the walls should definitely be bright colored – this solution will make the different elements contrast and it will help you to make the room more spacious.

Use accents in the rooms

The focus can be created by using colors – you may paint one wall in a different color, or you can put color wallpaper, and paint stripes on. If you choose floral wallpaper, its elements should necessarily be large; the same applies to ordinary wallpaper - repeating the pattern of big ornaments creates a sense of space. Horizontal stripes always make the room look wider and vertical stripes make it longer.

Avoid using contrasting colors

When you enter a room, your eyes move slowly from the floor, then they shift to the walls and finally they reach the ceiling. If the floor, walls and ceiling are similarly colored your eyes will move smoothly along the line and the space will seem larger. If all three elements are in contrasting colors, the eye will distinguish them and space automatically becomes less spacious.

Use the vertical space

When we live in a small house, it is common to feel like there is no room for any more items. Think again - the walls in most cases remain empty except for some paintings or frames. You have the option to put various shelves to store some of the items and to make more space in the room. This will open up the room and make it more vibrant.

Avoid the heavy curtains

Some large halls and living rooms usually have heavy curtains descending from the ceiling to the floor, creating a flow throughout the room. In small rooms however it is better to avoid heavy curtains as they are hard to clean and will make the space look darker and smaller.

Enlarge Your Living Space

Your Home - Enlarge Your Living Space - 5 Optical Illusions Tips

I am quite sure everyone wants a big and nice house with a lot of space. However we often need to live in smaller areas. This is not a big problem, as we have prepared for you some great optical illusion tips to help you make your home brighter and more spacious.

Avoid the dark colors

The secret of the comfortable and spacious interior is to use a reasonable quantity of dark colors. For example, if you choose the furnishing of the room to be in dark colors, then the walls should definitely be bright colored – this solution will make the different elements contrast and it will help you to make the room more spacious.

Use accents in the rooms

The focus can be created by using colors – you may paint one wall in a different color, or you can put color wallpaper, and paint stripes on. If you choose floral wallpaper, its elements should necessarily be large; the same applies to ordinary wallpaper - repeating the pattern of big ornaments creates a sense of space. Horizontal stripes always make the room look wider and vertical stripes make it longer.

Avoid using contrasting colors

When you enter a room, your eyes move slowly from the floor, then they shift to the walls and finally they reach the ceiling. If the floor, walls and ceiling are similarly colored your eyes will move smoothly along the line and the space will seem larger. If all three elements are in contrasting colors, the eye will distinguish them and space automatically becomes less spacious.

Use the vertical space

When we live in a small house, it is common to feel like there is no room for any more items. Think again - the walls in most cases remain empty except for some paintings or frames. You have the option to put various shelves to store some of the items and to make more space in the room. This will open up the room and make it more vibrant.

Avoid the heavy curtains

Some large halls and living rooms usually have heavy curtains descending from the ceiling to the floor, creating a flow throughout the room. In small rooms however it is better to avoid heavy curtains as they are hard to clean and will make the space look darker and smaller.

Summer is here!!!

Now that the summer break is here (or almost here), we need to think about how to entertain our kids. There are many activities parents can plan for their kids during the summer and here are some of them. 

There are many "drop-off and pick-them-up" activities that parents can get their child involved in, like karate or dance school. Some colleges have activities for kids during the summer as well. The best way to find activities is to look in the local newspaper or in the phone book. The internet has a great deal of information for things to do with children during the summer. It is great to keep the kids' brain working during the summer break. The earlier you start the better. Some places take reservations very early and some programs will fill early, too. Start your planning today. 

On weekdays kids could go to camp. A lot of people are getting out of the tradition of sending the kids away for the whole summer to a secluded forest with a bunch of teenagers and a couple of adults. There are now camps that have a meeting place where you can drop the kids off in the morning and pick them up in the afternoon. The camp will drive a bus to the site every day so the kids still have a camp-like experience but not the whole "spend-the-night" thing. They will still get to do activities like swimming, hiking, sports, and arts and crafts. 

Taking a couple of weeks to go on vacation is a great way to get a break from it all. A lot of places have packages for early booking and the longer the stay, the better the deal. There are also good deals as more people come. Some hotels will give a discount if more than one room is booked. Amusement parks will give discounts to families and some offer deals for kids or senior citizens if the grandparents come along. If a person cannot travel for two weeks straight, then there is always traveling on weekends. The family can pack up the car to leave on a two hour drive on Friday and come back on Saturday. It could be a camping trip or going to the next town to shop and sight-see. 

Whatever you plan for this summer, make sure that your kids will get a balanced vacation with a mixture of relaxation, physical and brain activity.

Why Home Sales Slipped in March
 
By Gino Blefari
President & CEO
Intero Real Estate Services, Inc.

If you've been following housing market news this year, you may have been surprised by the latest home sales numbers to come out this week. Sales of existing homes stalled at 4.92 million, dropping 0.6% in March from February.
 
But what about this hot spring we've all been anticipating? What about the great recovery and growth period we're supposed to see in 2013? What's going on here?
 
The problem is lack of homes. There's plenty of demand from buyers, but just not enough to choose from on the market.
 
Some areas are experiencing multiple bids, which can frustrate buyers after they've been outbid a handful of times and turn them away.
 
And in some cases, we see sellers being affected as well. For those in tight markets, they may not feel confident enough to list their homes until they know for sure they'll be able to find a new one to move into.
 
Despite the decline in March sales from February, home sales were still 10.3% higher than the same month a year ago, marking the 21^st consecutive month of year-over-year increases. That's good news, and a good indicator of how the market is trending in the big picture.
 
Demand is still strong, according to the National Association of Realtors, which reported buyer traffic is 25% above a year ago. But the drop in available homes has put upward pressure on prices. And some buyers are getting frustrated and priced out.
 
The national median home price was $184,300 in March, 11.8% higher than a year ago. The increase was the highest gain since November 2005.
 
Total housing inventory was up 1.6% to 1.93% homes for sale, representing a 4.7-month supply at the current pace. For-sale inventory was 16.8% below what it was a year ago, showing how lack of supply is truly impacting the pace of sales and overall market activity.
 
What happens next?
 
At the rate things are going, we can likely expect more price increases, driven by continued tight markets with some increases in new home building to balance supply.
 
At some point, prices will reach a tipping point where more sellers are able to sell because values will meet their needs.
 
Until then, buyers need patience and the ability to act fast; sellers need motivation or the right price points to get out from an underwater mortgage. We have an interesting second half of the year ahead!

Great news!!!!

Congress passed legislation extending the Mortgage Debt Relief Act for homeowners who do a Short Sale through 2013. When a homeowner sells their home, the IRS won't treat the debt forgiven by the bank as income, which means they won't owe taxes on that amount, therefore allowed a seller to short sale their home without immense tax consequences.

What You Can Do to Improve Your Credit

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.
2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.
3. Don’t charge your credit cards to the maximum limit.
4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.
5. Don’t order items for your new home on credit — such as appliances and furniture — until after the loan is approved. The amounts will add to your debt.
6. Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.
7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.
8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation.

Why to Own Your Own Home!!!

7 Reasons to Own Your Home

1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home.
2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average 6.5 percent each year from 1972 through 2005, and increased 88.5 percent over the last 10 years, according to the NATIONAL ASSOCIATION OF REALTORS®. In addition, the number of U.S. households is expected to rise 15 percent over the next decade, creating continued high demand for housing.
3. Equity. Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.
4. Savings. Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax.
5. Predictability. Unlike rent, your fixed-mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will increase.
6. Freedom. The home is yours. You can decorate any way you want and benefit from your investment for as long as you own the home.
7. Stability. Remaining in one neighborhood for several years gives you a chance to participate in community activities, lets you and your family establish lasting friendships, and offers your children the benefit of educational continuity.

Falling Foreclosures Pushing Up Home Prices

Daily Real Estate News | Thursday, October 18, 2012

  

As foreclosure backlogs have decreased, so have many of the big discounts on home prices. The slowdown in foreclosures is partially behind the recent rise in home prices, some economists say.
“Deeply discounted existing homes have been subject to strong demand from cash buyers and investors looking to lock into housing’s attractive income returns,” says Paul Diggle, a housing economist at Capital Economics. “The supply of such homes, meanwhile, has been dwindling. That has bid up existing house prices, particularly at the lower end of the price spectrum."
The median price of existing homes nationwide was 9.5 higher in August compared to a year ago, and new home prices were up 17 percent in that same time period.
Distressed properties typically sell for big discounts. For example, in 2007 during a nationwide foreclosure surge, foreclosures tended to sell for about a third of the median price of the home. The housing markets with some of the largest price falls tended to have the highest number of distressed home sales.
Lately, foreclosures have been posting big drops. Last month, new foreclosure filings reached a five-year low, according to RealtyTrac, a real estate research firm that tracks foreclosure housing data.
“There is a shortage of inventory — as crazy as it sounds to say that,” says Daren Blomquist, a RealtyTrac spokesman. “In a lot of market there's less inventory of foreclosed properties than there is demand. You’re hearing about multiple bids for these properties.”

Why Do You Need Title Insurance?

 

Title Insurance.

It’s a term we hear and see frequently - we see reference to it in the Sunday real estate section, in advertisements and in conversations with real estate brokers. If you’ve purchased a home before, you’re probably familiar with the benefits and procedures of title insurance. But if this is your first home, you may wonder, “Why do I need another insurance policy? It’s just one more bill to pay.”

The answer is simple: The purchase of a home is most likely one of the most expensive and important purchases you will ever make. You, and your mortgage lender, want to make sure that the property is indeed yours - lock, stock and barrel - and that no individual or government entity has any right, lien, claim to your property.

Title insurance companies are in business to make sure your rights and interests to the property are clear, that transfer of title takes place efficiently and correctly and that your interests as a homebuyer are protected to the maximum degree.

Title insurance companies provide services to buyers, sellers, real estate developers, builders, mortgage lenders and others who have an interest in a real estate transfer. Title companies routinely issue two types of policies - “owner’s”, which cover you, the homebuyer; and “lender’s”, which covers the bank, savings and loan or other lending institution over the life of the loan. Both are issued at the time of purchase for a modest, one-time premium.

Before issuing a policy, however, the title company performs an extensive search of relevant public records to determine if anyone other than you has an interest in the property. The search may be performed by title company personnel using either public records or more likely, information gathered, reorganized and indexed in the company’s title plant.

With such a thorough examination of records, any title problems usually can be found and cleared up prior to your purchase of the property. Once a title policy is issued, if for some reason any claim which is covered under your title policy is ever filed against your property, the title company will pay the legal fee involved in defense of your rights, as well as any covered loss arising from a valid claim. That protection, which is in effect as long as you or your heirs own the property, is yours for a one-time premium paid at the time of purchase.

The fact that title companies work to eliminate risks before they develop makes the title insurance decidedly different from other types of insurance you may have purchased. Most forms of insurance assume risks by providing financial protection through a pooling of risks for losses arising from an unforeseen event, say a fire, theft or accident. The purpose of title insurance, on the other hand, is to eliminate risks and prevent losses caused by defects in title that happened in the past. Risks are examined and mitigated before property changes hands.

This risk elimination has benefits to both you, the homebuyer, and the title company: it minimizes the chances adverse claims might be raised, and by so doing reduces the number of claims that have to be defended or satisfied. This keeps costs down for the title company and your title premiums low.

Buying a home is a big step emotionally and financially. With title insurance you are assured that any valid claim against your property will be borne by the title company, and that the odds of a claim being filed are slim indeed.

Isn’t sleeping well at night, knowing your home is yours, reason enough for title insurance?

Mortgage Rates

 

WHAT ARE CURRENT MORTGAGE RATES...... LOW!!!!

Current Rates

National	Average Rate*	Points
30-Year Fixed	3.39%	0.7
15-Year Fixed	2.70%	0.6
ARM	2.73%	0.6

* Conforming FNMA Loan Amount. Rates last updated Oct 12, 2012

Understanding Foreclosures

 

It is an unfortunate commentary, but when economic activity declines and housing activity decreases, more real property enters the foreclosure process. High interest rates and creative financing arrangements are also contributing factors.

When prices are rapidly accelerating during a real estate “bonanza”, many people go to any lengths available to get into the market through investments in vacation homes, rental housing and trading up to more expensive properties. In some cases, this results in the taking on of high interest rate payments and second, third and even fourth deeds of trust. Many buyers anticipate that interest rates will drop and home prices will continue to escalate. It is possible that neither will occur and borrowers may be faced with large balloon payments becoming due. When payments cannot be met, the foreclosure process looms on the horizon.

In the foreclosure process, one thing should be kept in mind: as a general rule, a lender would rather receive payments than receive a home due to a foreclosure. Lenders are not in the business of selling real estate and will often try to accommodate property owners who are having payment problems. The best plan is to contact the lender before payment problems arise. If monthly payments are too hefty, it may be that a lender will be able to make some alternative payment arrangements until the owner’s financial situation improves.

Let’s say, however, that a property owner has missed payments and has not made any alternate arrangements with the lender. In this case, the lender may decide to begin the foreclosure process. Under such circumstances, the lender, whether a bank, savings and loan or private party, will request that the trustee, often a title company, file a notice of default with the county recorder’s office. A copy of the notice is mailed to the property owner.

If the default is due to a balloon payment not being made when due, the lender can require full payment on the entire outstanding loan as the only way to cure the default. If the default is not cured, the lender may direct the trustee to sell the property at a public sale.

In cases of a public sale, a notice of sale must be published in a local newspaper and posted in a public place, usually the courthouse, for three consecutive weeks. Once the notice of sale has been recorded, the property owner has until 5 days prior to the published sale date to bring the loan current. If the owner cures the default by making up the payments, the deed of trust will be reinstated and regular monthly payments will continue as before.

After this time, it may still be possible for the property owner to work out a postponement on the sale with the lender. However, if no postponement is reached, the property goes on the block. At the sale, buyers must pay the amount of their bid in cash, cashier’s check or other instrument acceptable to the trustee. A lender may “credit bid” up to the amount of the obligation being foreclosed upon.

With the recent attention given to foreclosure, there also has been corresponding interest in buying foreclosed properties. However, caveat emptor: buyer beware. Foreclosed properties are very likely to be burdened with overdue taxes, liens and clouded titles. A buyer should do his homework and ask a local title company for information concerning these outstanding liens and encumbrances. Title insurance may or may not be available following a foreclosure sale and various exceptions may be included in any title insurance policy issued to a buyer of a foreclosed property.

Your local title company will be happy to provide additional information.

 Choices…they define us or they destroy us.

• Give or take
• Love or hate
• Church or watching the NFL
• Soda or Water
• Exercise or snooze bar
• Investing or buying that 60” plasma
• Smile or frown
• Going for a walk or sitting on the couch
• Operating from a schedule or just winging it
• Clean my office and be organized or leave it messy and be unorganized.
• Return all of my calls and emails or blow them off and kid myself I will do it tomorrow
• Going above and beyond or just doing the minimum
• Do a business plan and set goals or hope and wish for success
• Working hard or doing the bare minimum
• Energy giver or energy sucker
• Embrace accountability or run from it.
• Burger or salad
• Embrace change or resist it
• Positive & optimistic attitude or a negative & pessimistic attitude
• Forgive or be mad and hold a grudge
• Dress professionally or dress like a slob
• Do my homework or don’t do my homework
• Practice or don’t practice
• Shoulders back or shoulders slumped
• Laugh or yell
• Hug or fight

The most common difference between those who have an AWESOME life and those who don’t are simply the choices they make every day. It’s usually not their circumstances, the way they were raised, or their education. Most people who are not accomplishing their dreams in life are those that have chosen not to. These people just aren’t willing to do what is necessary to have a life that good.

Think about your life for a moment, what do you want and what does it take to get it? So, why haven’t you been doing what it takes to get it?

Before you start with all of the excuses, ask yourself - if you really had to do it, could you? Let me make it clear how this is a choice - I don’t even like to think these thoughts, but it will help you understand that you can do it, if you want it bad enough. If the person or people you care about the most lives depended upon it (life or death), could you do it? We both know the answer. Of course you could and would. Life is a series of choices - I call them the Y’s in the road. In most cases if you take the easy path - the one most people take - you will experience short term gain and long term pain. On the other hand if you have the courage to take the other path - the one most will not take - you will have some short-term pain, but long-term gain. So, make the right choice and have a life of pure magic!

Start by making the choice every day to FEEL GOOD. Because when you FEEL GOOD you are ATTRACTIVE. When you are ATTRACTIVE, you have AMAZING PRODUCTIVITY. When you have AMAZING PRODUCTIVITY, you have EXTRAORDINARY RESULTS. And when you have EXTRAORDINARY RESULT, you feel even better! It is the circle of success.

By Tom Tognoli
COO, Founder
Intero Real Estate Services