What a great post and I would like to share it with all Pensacolians. What would the world look like if we all gave back and the wonderful part is it's free.
There are so many things in life that won't cost you a thing to give. During these tough economic times many struggle with the preasure of giving, especially during the holidays.
Do we really need those expensive gifts or would our loved ones appreciate something that comes from our hearts?
What are some great things you give to your friends and loved ones that don't cost a thing but bring great joy to those people you love.
A Smile is Free! A Hug is Free! Listening is Free!
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Pensacola, Florida: My best best of the best series of articles on different real estate topics beneficial to Pensacola Investors, Landlords, Tenants, buyers, sellers in Pensacola, Pace and Gulf Breeze, Florida. This weeks topic is on the Investor and who wants to be the next millionaire in Pensacola, Pace, Gulf Breeze, Florida. With a well know, little used strategy we can make you the next millionaire. Unbelievable, put me to the test and see. I hope you find this series to be educational as well as informative. Call me to discuss the use of the of this little used strategy and to discuss how we work and if it will benefit you here in Pensacola, Pace or Gulf Breeze, Fl. Call Charles Stallions 800-309-3414 or E-mail charles@charlesstallions.com. To view short sales, foreclosures, REO's and homes for sale in Pensacola, Pace or Gulf Breeze, FloridaClick Here.
I still get the question "how can I take advantage of the real estate opportunities with my retirement funds?" And or "is this a good time to invest in real estate." Well I am going to make a public post on my opinion, and again this is only my opinion. YES you can invest your retirement funds in real estate, but there are rules. And to the second question is it a good time to invest in real estate, Um let me think about that, YES again. There are tons of opportunities out there but you do need a professional to help you with the buying process, the due diligence, and is it real a good opportunity. The bottom line is if you have CASH, well CASH talks. The interesting thing I am seeing is that buyers are taking there time, making sure this is a good opportunity and professionals are understanding there jobs of really helping clients, people can tell if your just into it for the commission check. These are undoubtly interesting times, but the thing I always stand behing is true diversification, why not have some real estate in your portfolio? Is is a good time to invest in stocks, bonds, and mutual funds? I don't know I get a headache watching the market and I leave that to my Edward Jones guy, thats what he likes to do. But again I do believe in true diversification and I actually practice what I believe. There is alot of good information out there it just comes down to educating yourself and then moving on what is right for you. Below is some good sites to get some information. Have fun, be smart, and get educated.
Pensacola, Florida: My best best of the best series of articles on different real estate topics beneficial to Pensacola Investors, Landlords, Tenants, buyers, sellers in Pensacola, Pace and Gulf Breeze, Florida. This weeks topic is on the Investor and who wants to be the next millionaire in Pensacola, Pace, Gulf Breeze, Florida. With a well know, little used strategy we can make you the next millionaire. Unbelievable, put me to the test and see. I hope you find this series to be educational as well as informative. Call me to discuss the use of the of this little used strategy and to discuss how we work and if it will benefit you here in Pensacola, Pace or Gulf Breeze, Fl. Call Charles Stallions 800-309-3414 or E-mail charles@charlesstallions.com. To view short sales, foreclosures, REO's and homes for sale in Pensacola, Pace or Gulf Breeze, FloridaClick Here.
What Do They Do FHA loan options make it easier to qualify for a home mortgage. Your loan is guaranteed by the government, making your application more attractive to lenders.
The FHA mortgage requires a low 3.5% down payment, and that money can come from a variety of sources including HUD down payment assistance grants. Typical closing costs for FHA home loans are around 2% or 3% of the total mortgage.
Loan Loss is Below Govt Mandate Its capital reserves have fallen below the threshold mandated by Congress. The FHA has no recourse but to find ways to reduce their portfolio risk. Generally, when an investment portfolio needs to lower its risk profile, it means that requirements will tighten and costs will rise until the risk profile is better balanced.
What it Means To You Harder to Qualify
The FHA is considering a variety of changes like requiring larger down payments for FHA insured mortgages, demanding higher credit scores and raising mortgage premiums. The FHA has taken on an enormous role in the marketplace. It dominates the new mortgage business. The FHA is one of the tools the Obama administration is using to take up the vacuum left by the banks. Generally, they are not lenders of such magnitude. In the second quarter, nearly 50% of all first-time buyers in the market used a loan insured by the FHA (via cbsmarketwatch.com).
Normally, a low risk lender because FHA home loans have income requirements, maximum loan amounts and most loans are 30 year fully amortizing fixed-rate mortgages. But the FHA has had its neck out since the housing crises began. They like many other Govt institutions are filling the gap left by private lenders. And will continue to do so until the market normalizes, but it clearly is taking a toll.
It's time to travel-- whether you are going to Grandma's house, Mom & Dad's, or travelling to see the kids over the holiday... and if you dread the trip to the airport-- here is a great video to help you calm down and enjoy your flight... or at least make it more pleasant! It really is true-- flying is far safer than driving!
As a parent, you recognize that teaching your children the skills for a successful life is your responsibility. Neither the government, schools, community groups, churches, nor any other person has as much riding on your kid's success as you. One of those life skills is the ability to manage money and it's a learnable skill (thankfully). As your kids get older, hitting those wonderful teenage years, learning these skills becomes even more critical.
1. Balancing a checkbook
Balancing a checkbook is a crucial skill in money management. It's a lot easier today with software (like Quicken), but there are simple instructions printed on the back of most bank statements. The next time you get a bank statement, take a few minutes to show them how it's done. Knowing the real amount you have in your checking account is the first step to avoiding overdrafts. Make sure your teenager knows the how of balancing a checkbook, but more importantly, the why.
2. Budgeting money
Balancing a checkbook tells you where your money went, but using a budget tells your money where to go. Teens learn how to control their money when a parent takes the time to teach them how to set up, use, and prioritize their budget and it's categories. A budget teaches how to properly allocate your money to what's important and how to be flexible when the situation demands. As a parent, the best way to teach your teenager the importance of budgeting is to walk the walk yourself.
3. Establishing credit
Teach your 18 year old the importance of establishing a sterling credit reputation before they go off to college so they can know how to handle the temptation to get more credit cards after they get there. Good credit all boils down to a few things:
³Having only a few accounts open and paying them on time;
³Keeping your balances low in relation to credit limits;
³Better yet, paying off outstanding balances each month.
Good credit can be established for 18 year old+ teenagers by getting a secured credit card.
4. How to pay for college
In an ideal world, parents would have plenty of money saved for their teenager's college experience, but we live in reality, don't we? With the continuing increases in college costs, 18 years of savings might not be enough. As a result, either the parent or the student will have to apply for financial aid. There are other options though, ranging from:
³Work a semester, go to school a semester (pay as you go).
³Attend a local junior college for the first two years.
³Go to college online.
³Take advanced placement courses in high school.
5. Identifying wants vs. needs
I believe it's important to keep some wants in front of you. After all, needs aren't particularly motivating. But it's important that teens recognize that some things in life really aren't priorities when put in proper perspective. Paying for groceries is more important than paying for a house party. Paying car insurance premiums is more important than another road trip.
6. Dealing with debt
No matter how much you teach, chances are pretty good that your teenager will rack up some sort of debt, whether through credit cards or through student loans. Plan to teach them early how to attack debt and get it wiped out quickly.
I'd recommend Debt is Slavery as a short but captivating book on dealing with debt.
7. Paying taxes
Yeah, I don't like paying taxes either, but they're as inevitable as dying for about 50% of the population. When April rolls around each year, make sure your teenager has already filed his or her taxes or has a plan in place to do so. With software packages and free online options, filing your taxes is as easy as setting up a budget or balancing your checkbook. Paying them isn't always easy, but filing is.
8. Saving and investing for the future
Saving and investing for the future can potentially be the hardest thing to teach. The "future" seems just so far away when you're young, but if you teach them to save for a trip or a gadget, they will get some sense of what it's like to hit a goal. From there, ask them if they have any advice for a 10 year old, given their life experience since then. Then ask if they would be willing to listen to your advice to them, given your life experience since your teen years. They just might listen.
From there, I'd recommend reading How a Second Grader Beats Wall Street for some simple, yet effective investment advice and then setting up a savings account.
9. Understanding the total cost of ownership
Teach your children that a price tag is a liar! What is rarely implied is the cost of ownership, not just from the physical standpoint, but from the opportunity standpoint. Sure, that "gently used" BMW may seem like a good deal, until you factor in the cost of tires, brake jobs, oil changes, tune ups, and the inevitable minor fender-bender, but what about the cost of lost opportunity? That car may cost more in the long run than a less flashy, more expensive Toyota!
Economics is simply about the decisions we make with our money, and since money is a finite resource, making one decision precludes others.
10. Choosing a thrifty lifestyle
Everything in life boils down to choices, and that's one of the points of The Wisdom Journal. Making the wise choice to live a frugal lifestyle isn't about being cheap. It's about saying no to gluttony (the desire to consume more than you need) and yes to temperance (the constant mindfulness of others; practicing self-control, and moderation).
There are a number of factors that can contribute to the affordability of a house and, as a potential homebuyer, it's important that you know what type of mortgage payments are within your budget.
Debt-To-Income Ratio
As a homebuyer, your first consideration will be the amount of your monthly mortgage payments. If you owe a lot of debt, lenders may consider you to be a high credit risk, which makes debt-to-income ratio a leading factor in determining how much of a house you can afford.
Most lenders will discount any loans that you will have paid off within one year when determining how much of a home you can afford. As a general rule, your mortgage payment should not exceed 25-30 percent of your monthly take-home pay.
Loan Term
Although you will end up paying more interest in the long run, you will find that you can afford a more expensive house if you request a loan term of 25-30 years, compared to a shorter term of 15 years.
Interest Rates
When you look at an interest rate, all you see is a number. Hopefully, it's a single digit that's comparable with current market rates. Most homebuyers already know that their interest rate affects their monthly payment which, in turn, is determined by the borrower's income. Lower interest rates mean that you can afford a larger principal loan amount, which means a more expensive house.
Credit History
Because your past credit history will play a large role in determining your interest rates, it will also impact the affordability of a house. For instance, a buyer who pays six percent interest will save a considerable amount of money over a buyer who pays eight percent interest on their home loan. It may not seem like much now but, when averaged over time, the savings could be tremendous.
Down Payment Amount
Believe it or not, the amount of your down payment will not only show the lender how serious you are about buying a home, but it will also affect your ability to afford a particular house. For instance, if you were to qualify for a home loan of $200,000, but your dream home was currently listed for $250,000, a down payment in the amount of $50,000 would get you into the home.
The above scenario is just an example, but it does show how a down payment can affect the price of the home that you are able to afford. Some lenders may only require a five percent down payment, but you are free to pay as much above that as you wish. A larger down payment can also reduce the principal loan amount, which thereby reduces the monthly mortgage payments.
Nakisha Brisco, Realtor
Abek Real Estate 820 Oak Harbor Blvd. Slidell, La 70458, 504.301.7183 cell, 985.646.2111 office, 985.646.2772 fax, e-mail: arealtorworking4u@yahoo.com
If you are like me this can be a very helpful post. So please take advantage of it as I did and maybe your success will be as good or maybe even better.
Most businesses recognize the huge marketing power of Facebook, but are unsure of how to use the platform. Should they set up a profile, a group, a fan page ... or a combination of these?
Facebook Fan Pages 101provides a good overview of fan pages from Ron Jones at Search Engine Watch. One of the most important features is that "external search engines index Facebook fan pages."
Setting up your fan page is easy. Just go to Facebook Pages and you'll find a step-by-step guide as well as tips to prepare and build your fan base.
Already have a fan page? Share a link in the comments. We'll help you increase your fans, and your page just might inspire another!
I hope all our readers here i=on the gulf will take the time to do this as well. Let's all give a great big thank you for what we have that all other countries have.
I just received an email from one of my past military borrowers who has a loved one in Iraq. I thought it was a fabulous idea worth sharing with all the good folks on Active Rain.
Xerox is sponsoring a Thank You card drive for the men & women of our armed forces stationed overseas this holiday season. It will only take a minute of your time, and will definitely brighten their day. All you have to do is visit the Lets Say Thanks web site, follow the 3 easy steps (give your name, pick a design, and choose a pre worded thank you message, or create your own), and Xerox will print and deliver the card to one of our troops.
It does not matter what your stance is on our politics, or foreign policy, these people are serving our country, and deserve everyone's support. From a completely selfish standpoint, this is a great way to get in front of your database in a positive way. Who knows, you might just get some business out of being a nice person.
The current U.S. housing market and national financial crisis has caused untold stress and heartache for many American families. Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. The options available to home owners for foreclosure are many. Following is a brief explanation of these solutions:
1.) Reinstatement
A reinstatement is the simplest solution for a foreclosure, however it is often the most difficult. The homeowner simply requests the total amount owed to the mortgage company to date and pays it. This solution does not require the lender's approval and will 'reinstate' a mortgage up to the day before the final foreclosure sale.
2.) Forbearance or Repayment Plan
A forbearance or repayment plan involves the homeowner negotiating with the mortgage company to allow them to repay back payments over a period of time. The homeowner typically makes their current mortgage payment in addition to a portion of the back payments they owe.
3.) Mortgage Modification
A mortgage modification involves the reduction of one of the following: the interest rate on the loan, the principal balance of the loan, the term of the loan, or any combination of these. These typically result in a lower payment to the homeowner and a more affordable mortgage.
4.) Rent the Property
A homeowner who has a mortgage payment low enough that market rent will allow it to be paid, is able to convert their property to a rental and use the rental income to pay the mortgage.
5.) Deed in Lieu of Foreclosure
Also known as a 'friendly foreclosure', a deed in lieu allows the homeowner to return the property to the lender rather than go through the foreclosure process. Lender approval is required for this option, and the homeowner must also vacate the property.
6.)Bankruptcy
Many have considered and marketed bankruptcy as a 'foreclosure solution,' but this is only true in some states and situations. If the homeowner has non-mortgage debts that cause a shortfall of paying their mortgage payments and a personal bankruptcy will eliminate these debts, this may be a viable solution.
7.) Refinance
If a homeowner has sufficient equity in their property and their credit is still in good standing, they may be able to refinance their mortgage.
If a member of the military is experiencing financial distress due to deployment, and that person can show that their debt was entered into prior to deployment, they may qualify for relief under the Servicemembers Civil Relief Act. The American Bar Association has a network of attorneys that will work with servicemembers in relation to qualifying for this relief.
9.) Sell the Property
Homeowners with sufficient equity can list their property with a qualified agent that understands the foreclosure process in their area.
10.) Short Sale
If a homeowner owes more on their property than it is currently worth, then they can hire a qualified real estate agent to market and sell their property through the negotiation of a short sale with their lender. This typically requires the property to be on the market and the homeowner must have a financial hardship to qualify. Hardship can be simply defined as a material change in the financial stability of the homeowner between the date of the home purchase and the date of the short sale negotiation. Acceptable hardships include but are not limited to: mortgage payment increase, job loss, divorce, excessive debt, forced or unplanned relocation, and more.
For more explantion of your options including drawbacks and benefits of each scenario click here!
Jerry W. Ginn Ginn Group, Inc. COO/EXEC VP (404)-669-9214 Work (404)-669-9215 Fax (770)-316-2187 Cell jwginn@ginngroup.com www.ginngroup.com 200 WestPark Drive Suite 100 Peachtree City, Georgia 30269
I know I needed this reminder since Sears isn't always my first choice. Amazing when you think of how long the war has lasted and they haven't withdrawn from their commitment. Could we each buy at least one thing at Sears this year?
How does Sears treat its employees who are called up for military duty? By law, they are required to hold their jobs open and available, but nothing more. Usually, people take a big pay cut and lose benefits as a result of being called up.
Sears is voluntarily paying the difference in salaries and maintaining all benefits, including medical insurance and bonus programs, for all called up reservist employees for up to two years.
I submit that Sears is an exemplary corporate citizen and should be recognized for its contribution. I suggest we all shop at Sears, and be sure to find manager to tell them why we are there so the company gets the positive reinforcement it well deserves.
Pass it on.
Decided to check this before I sent it forward. So I sent the following e-mail to the Sears Customer Service Department :
I received this e-mail and I would like to know if it is true. If it is, the Internet may have just become one very good source of advertisement for your company. I know I would go out of my way to buy products from Sears instead of another store for a like item, even if it's cheaper at that store.
This is their answer to my e-mail:
Dear Customer:
Thank you for contacting Sears.The information is factual. We appreciate your positive feedback.
Sears regards service to our country as one of greatest sacrifices our young men and women can make. We are happy to do our part to lessen the burden they bear at this time.
Bill Thorn Sears Customer Care webcenter@sears.com 1-800-349-4358
Please pass this on to all your friends. Sears needs to be recognized for this outstanding contribution and we need to show them as Americans, we appreciate what they are doing for our military!!!
Why Pay More To Get Less?
Charles Stallions Real Estate Services charges a flat fee of $2995 or $1495 PLUS 3% if you want to be in the MLS. What do you get? Our 27 step program. . includes print advertising in the #1 magazines, 8 or more websites for homes for sale. Open Houses, Tour Of Homes -Auction style, Lots of signage, Realtor Alerts and much more. Call 800-309-3414 for over the phone details with no obligations.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Most businesses recognize the huge marketing power of Facebook, but are unsure of how to use the platform. Should they set up a profile, a group, a fan page ... or a combination of these?
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