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    • Rick

      How to create an @mention - Click Here   07/16/2015

      You can use the @mention aspect whenever you want someone to be notified about a post or let them know you are talking about them. Type the @ symbol type in a couple "lowercase" letters pause then once the names pop-up either select or keep typing in letters to narrow down the list until you get the @mention name you are looking for. You can play a game so members can see how it works. If you want to practice or If your name has been @mentioned below you should see it in your notifications (upper right) and you then have to @mention one or two members who haven't been mentioned inthe comments section below. Let's see how long we can keep this going. Anyone who duplicates a name that has already been @mentioned loses. This is the first group to be @mentioned to get the ball rolling: @Borch @Scott K @Corey Bechtold @Matt Johnson @mrklean @eyeguy 54 @Finns @IceHawk @MarkB @Cliff Wagenbach @Wayne Ek
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New Loan Programs for those hit with loss of home value

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Under the government's new "Making Home Affordable" initiative, Fannie Mae and Freddie Mac have unveiled programs. These programs are for borrowers that due to loss of home value, could not qualify to refinance and take advantage of the current low rates thus lowering their monthly housing payments. For every $50,000 you have financed, an interest rate reduction of 1% can save you approximately $31 per month, so for those of you with large mortgages the savings can be significant.

This new program allows refinances for homes up to 105% of the homes market value, may or may not require an appraisal, and has no minimum credit score requirement. Another positive is that if you currently don't have mortgage insurance, you will not be required to get it, even if your loan to value is over 80%. A few key qualifications are that your current loan must be owned or backed by Fannie or Freddie, you must be current on your mortgage payments, you cannot get cash out, and you cannot pay off any home equity loans, lines, or second mortgages in the transaction. You must still qualify through the same income, asset, and employment requirements for this program, and there are also rate adjustments for lower credit scores and higher loan to values (you don't need a minimum credit score rememeber).

Some of you out there are in a real tough spot, and saving $125 or even $300 a month can help alot so if anyone out there is wanting to refinance and lower your monthly payments or get out of that ARM you're in, there may be a chance to do it now. Rates are at an all time low with the base rate being 4.75% for a conventional 30 year and 4.5% on an FHA 30 year (rates based on a 30 day lock on 4/29/09, 80% loan to value, 740 credit score, and 1% origination fee), it may be worth it to look into refinancing and save some cash. If you would like to know if you qualify for these new programs, please send me your property address so I can check to see if your current loan is owned or backed by Fannie or Freddie and we can move forward from there. If you are looking into a regular refinance or a purchase, just email me your scenario and I will shoot you some numbers and if I think it may be worth it to you.


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