Wednesday, June 24, 2015

New SEER Regulations for Homeowners

Summer is in full swing and we have you covered with safety around the grill, keeping cool and keeping your cooling bills down plus a guide to understand the new 14 SEER regulations and how they might affect you as a homeowner. 

SEER Regulations:
http://www.homecarebuzz.com/understanding-14-seer-regulations/

Grilling Tips
http://www.homecarebuzz.com/safety-first-grilling-guidelines-for-barbecuing/

Staying Cool this Summer
http://www.homecarebuzz.com/5-steps-to-staying-cool-this-summer/


Wednesday, June 10, 2015

Understand the Aug. 1 Changes to HUD-1, Closing Process

Make sure your Real Estate Agent, your Lender, and The Title Company understand these new rules.  They are meant for the consumers protection but if you (the consumer) or the people representing you don't understand them it could prolong or jeopardise the close of your purchase.   

Read the full article here: http://speakingofrealestate.blogs.realtor.org/2015/02/17/understand-the-aug-1-changes-to-hud-1-closing-process/

The days of filling out the HUD-1 settlement form and getting a Good Faith Estimate (GFE) from the lender are winding down. On August 1, those two forms are going away. The Truth in Lending Act (TILA) disclosure form is going away, too. Replacing them are two new forms: the Closing Disclosure and the Loan Estimate. You can familiarize yourself with these new forms on the website of the Consumer Financial Protection Bureau (CFPB), which has taken over administration of the Real Estate Settlement Procedures Act (RESPA) from HUD. Just go to CFPB.gov and type in the name of the forms in the search box.

There are also new rules for the closing procedure. One rule requires all forms to be ready three days prior to closing. NAR is recommending you actually get everything ready seven days prior to closing, so when you go into the three-day period, you don’t have to make any changes. Because making changes as the clock winds down comes with a cumbersome  set of hurdles.
Closing
What this means is, you and the other settlement service providers, including the lender and title agent, are under the gun to get everything squared away earlier than you have to today. And the buyers and sellers have to be cooperative as well, because if last-minute changes are made, a new three-day waiting period kicks in, at least in some cases.
The good news is, you have until August 1 to get familiar with the new forms and learn about the new closing procedures, and NAR is hosting a series of webinars on the topic. To learn when the next one is, go to Realtor.org/respa.
Loan
The video above, with Ken Trepeta of NAR Government Affairs, provides a concise overview of what to expect and also shares some tips on how to decrease the likelihood of snags in this new environment.
The CFPB’s goal in making these changes is to increase transparency for consumers. Start your education process by accessing the 5-minute video.

 tgage  

New Home Refinance Plan Banks Don't Want You To Know

When homeowners visit FetchARate they may be surprised to find out that they may qualify for a new home refinance plan that will lower their mortgage to astonishingly low rates.
Millions of smart homeowners have taken advantage of this brilliant government program called the Home Affordable Refinance Plan (HARP) and have reduced their monthly payments by as much as $4,264 each year.* This program, designed to help just about any homeowner take advantage of surprisingly low rates, has banks on the edge - we wouldn't be surprised if most banks hope you never learn about this program.
The government has announced that this program will expire in 2015 and is making a final push urging homeowners to take advantage of this program. Most homeowners will qualify for this program and the process is very simply. If you want to lower you mortgage payments, pay off your mortgage faster or get some extra needed cash out, it's vital you act now.

For the full story go to the link below.


The government program is set to expire in 2015, so it's vital to act fast. HARP is a free government program and there is no cost & no obligation to see if you qualify. See if you qualify »//www.fetcharate.com/pa/mortgage/?tg_ref=yhoo&camp_id=gen&keyword=abnwtpoym&sub2=mdsk1&csid

Friday, June 5, 2015

Home Prices are going up and Interest Rates are inching higher.


Home Loan Volume Is Up From a Year Ago
image: real estate agent shaking hands with coupleAn increase in home loan rates in the first weeks of May resulted in a decrease in total home loan applications. When compared to last year, home loan application volume is still 12 percent higher than the same time a year ago, according to figures from the Mortgage Bankers Association (MBA).

Of the total applications, the numbers were split nearly even between those wishing to buy homes, versus those refinancing existing loans. Many homeowners refinanced in attempts to significantly lower their monthly housing payments or shorten the duration of their home loans. The good news is that refinance opportunities are still available.

Homebuying Remains Sure and Steady
Contracts to purchase homes continued to grow in early spring. Pending home sales are 11 percent higher than one year ago and are at their highest since June 2013, according to March figures from the National Association of REALTORS® (NAR), whose reports have two months lag time.

Demand is highest near and in major metropolitan areas experiencing economic growth. Even better news is traditional homebuyers appear to be replacing home investors who typically buy homes with cash. Home prices are, however, increasing and homes are selling faster.

Rising home prices could be a pain point for some buyers as a result of a limited supply of available housing inventory, which is to blame for driving up prices. NAR's Chief Economist, Lawrence Yun, stated that in some parts of the country prices are increasing at a rate 4 or more times the pace of wage growth, which could prove difficult for prospective homebuyers and first-timers.

What's Next
Home loan rates remain favorable for both home refinances and purchases. If you or anyone you know has questions regarding refinancing, or wants to get ahead of the homebuying competition with a loan pre-approval, please get in touch today.

Wednesday, June 3, 2015

What To Do If You Think Your Identity Has Been Stolen

Identity theft recovery

What to do if you suspect your identity has been stolen.

The internet has brought a world of convenience to our lives. But it also has the potential to expose our precious data to a universe of fraudsters and identity thieves.
In 2014, tracked U.S. organizational data breaches hit a record high of 783, which means that millions of customers who did business with those companies potentially had their data compromised. That's a 27.5% increase over the breaches reported in 2013, and a big jump over the previous high of 662 in 2010.¹ While breaches at mass retailers, banks and insurance firms have made the biggest headlines, cyber crooks have also targeted health care providers, grocery stores and restaurants.
In short, it's perfectly normal to worry about the safety of your valuable information. Identity thieves can destroy your credit, make off with your tax refund and drain your bank account.
So what should you do if you suspect you're a victim? Act quickly and decisively. Here's a checklist of whom to contact and steps to take.

Banks and credit card issuers

Credit card or checkbook lost? Report it promptly. Take measures today to know exactly what's in your wallet: scan or make photocopies of your credit cards, IDs, medical insurance and alert information — and keep the copies in a handy, but safe, place.

Credit reporting agencies

Place a 90-day fraud alert on your credit reports. Doing so can make it more difficult for an identity thief to open accounts or request loans or credit in your name. How? Lenders and creditors will need to verify the identity of anyone requesting loans or credit. You simply need to contact one of the three credit reporting agencies; that will put an alert in place with all three.
You also can put a security freeze on your credit reports by contacting each agency individually. This allows you to control access to your credit report — a move that makes it more difficult for identity thieves to open new accounts in your name. Most lenders need to review your credit report before approving a new account. If they can't get access to your file, there's less chance they'll extend credit to a thief.

Federal Trade Commission (FTC) and your local police

Here are two more critical steps: Contact the FTC to file an Identity Theft Affidavit. Then file a local police report. Those actions will create an FTC Identity Theft Report. And that can help you get information about accounts a thief opened or misused, erase untrue information from your credit report, stop creditors from collecting identity theft-driven debts and more.

Social Security Administration (SSA)

Think someone might have your Social Security number? The SSA and IRS can help. You can check with the SSA to verify the earnings reported on your Social Security number and request a copy of your Social Security Statement (Form SSA-7005). If you find anything amiss, file a report at www.socialsecurity.gov/oig or by calling 1.800.269.0271.
Identity thieves can also use Social Security numbers to gain access to your tax records (and refunds). In addition to the steps outlined above, the IRS recommends you contact them immediately if you receive notices stating, for example, that multiple tax returns were filed using your Social Security number, or you're facing collection actions for a year you didn't file a tax return.
Of course, the best strategy is to lock down your online information as tightly as possible. Using strong passwords — and frequently changing them — is one good practice. This article offers five additional tips. Still, with thieves and hackers becoming ever more wily, it's challenging to secure all potential points of entry. So be ready to act after the fact.
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Tuesday, June 2, 2015

6 Things to Know about your Credit Score

This is a great read on credit scores.  Your credit score is effected more than you think, it is especially important to not carry any balances of more that 30% of your available credit on any of your credit accounts.  Example if your have a credit line of $5000 X .30= $1500.  You never want to carry a balance of more than $1500.00 on this card.  Click on the below link to read more on what effects your credit score.

http://www2.realtoractioncenter.com/site/R?i=r-z0VVw3kWxc4iC7i77XwA