By Marshall Loeb, MarketWatch

RISMEDIA, Sept. 21, 2007-(MarketWatch)-Identity theft strikes nearly 10 million Americans each year, says a 2003 study by the Federal Trade Commission. While there's no way to guarantee that you won't become one of the victims, you can minimize your risk by following these six simple rules:

1.) Carry as little information as possible. The more you lug around with you, the easier you make it for an opportunist to assume your identity. So try to limit the contents of your wallet to the bare necessities: one credit card, an ATM card and a driver's license. Whatever you do: Don't walk around with your Social Security card, birth certificate or passport unless it's absolutely necessary.
2.) Keep a list of account numbers and contact information. No matter how conscientious you are, you may end up the victim of a robbery (or simple absentmindedness), so prepare for the worst. Keep a copy of all of your account numbers along with relevant contact information in a safe place. This will streamline the process of reporting cards missing and ordering replacements.
3.) Secure your computer. Virus and spyware protection are your first line of defense; make sure you've installed that software on your system. Then, set up your computer to automatically download any updates or "patches." When choosing passwords, it's best to go with something intricate, preferably a combination of letters, numbers, and characters. But keep passwords simple enough that you can memorize them so you don't have to keep a written record. Avoid using readily available information, such as your mother's maiden name, your birthday or your Social Security number.
4.) Protect your checks. When preparing to order new checks, don't make the mistake of throwing the leftover checks in the bin without destroying them first. It's also wise to avoid having new checks sent to your home as they could easily fall into the wrong hands. Instead, request to pick the checks up from your local branch. Warning: Never have your Social Security number printed on your checks!
5.) Watch what you throw away. We'll say it again: It pays to invest in a shredder. You're tempting fate when you throw away financial information, like bank statements, ATM receipts and credit-card offers.
6.) Place a fraud alert on your account. If you're particularly concerned about identity theft, go the extra mile: contact the fraud departments of the three major credit bureaus, Experian, TransUnion and Equifax, and have a fraud alert placed on your file. After the alert goes into effect (usually within 24 hours), the agencies will contact you by phone to verify any new activity on your account. But be warned: your account will be monitored for only 90 days unless you reactivate the fraud alert.

Marshall Loeb, former editor of Fortune, Money, and the Columbia Journalism Review, writes for MarketWatch.

This Day in History: Elvis Makes His Debut
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RISMEDIA, July 30, 2007-Elvis Aaron Presley (January 8, 1935 - August 16, 1977), was an American singer, musician and actor. Now a cultural icon, he made his first public performance in 1954.

At the Overton Park Shell, Presley, accompanied by Winfield "Scotty" Moore (electric guitar) and Bill Black (slap bass) performed, billed as The Blue Moon Boys, with Slim Whitman headlining. Presley was apparently so nervous during this show that his legs shook uncontrollably. His wide-legged pants emphasized his leg movements, apparently causing the young women in the audience to go ‘crazy'. Presley is said to have had little understanding about what caused the fans to scream, but he would consciously incorporate similar movements into future shows.

Did You Also Know That Elvis Presley:
- Appeared at the Grand Ole Opry, Nashville, on October 2. He performed "Blue Moon of Kentucky" but received only a polite response. Afterwards, the singer was allegedly told: "Boy, you'd better keep driving that truck."
- Elvis is known simply as Elvis; and also "The King of Rock ‘n' Roll", or simply "The King".
- Presley began his career as one of the first performers of rockabilly, an uptempo fusion of country and rhythm and blues with a strong back beat.
- His novel versions of existing songs, mixing ‘black' and ‘white' sounds, made him popular - and controversial - as did his uninhibited stage and television performances.
- He recorded songs in the rock and roll genre, with tracks like "Jailhouse Rock" and "Hound Dog" later embodying the style.
- To date, he is the only performer to have been inducted into three separate music ‘Halls of Fame' genres.
- Presley made thirty-three movies, the majority during the 1960s, but he made a critically-acclaimed return to live music in 1968, followed by performances in Las Vegas and across the U.S.
- Throughout his career, he set records for concert attendance, television ratings and records sales. He is one of the best-selling and most influential artists in the history of popular music.

 

http://www.keeferealestate.com/newsletter/newsletter_2007_07.htm

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

Interest Rates

When is the Best Time to Lock?

When it comes to mortgage loans and interest rates, it's never a good idea to

gamble. That's why I typically advise my clients to lock in an interest rate at the

earliest opportunity. This is just one step of the standardized system we have

put in place to ensure the best possible loan experience for each borrower that

we work with.

A mortgage loan cannot be closed without a locked-in rate, and there are three

main elements to take into consideration:

· Interest Rate

· Points or fees

· Length of the lock

Locking in a rate does not obligate the borrower to commit to the loan until the

loan is actually closed. The lock is merely a security measure designed to

eliminate the risk of market volatility throughout the duration of the purchase or

refinance transaction. As long as the loan is approved and funded before the

end of the lock period, the borrower will receive the interest rate quoted.

When a lender permits an extended lock-in period, the borrower will likely face a higher interest rate or additional fees

that could be quoted as points. In other words, the borrower pays for the lender to take on the extended risk of being

exposed to potential changes in the market.

For example, let's say a 30-day rate lock commitment costs the borrower one-half point, while a 60-day rate lock

commitment costs one full point. If the borrower in this scenario needed the extended lock period, but did not want to pay

points, then an alternative would be to accept a slightly higher interest rate. In this case, a 60-day lock would typically

have a higher interest rate than a 30-day lock.

Our standard procedure is to lock in a rate as quickly as possible. My team and I want our clients to know that while

interest rates fluctuate daily, most lenders do not want to lose any business because of it. If a significant rally causes

interest rates to drop 0.25% or more, we know that we can most likely renegotiate the rate. In many cases, lenders prefer

this option over losing the loan to another lender. On the other hand, if we'd allowed our clients to sit on the fence and not

lock in their rate, we would have exposed them to market volatility without a safety net. Then, if rates were to increase, the

borrower might no longer qualify for the loan they want - a situation that we want to avoid at all costs.

By knowing our clients' needs and working intimately with them to make the right decisions early on, my team and I are

proud to say that we have helped them to achieve their home ownership dreams.

If you'd like to learn more about the loan programs we have available, please call me!

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

The Federal Reserve and Mortgage Rates

Understanding What Causes Interest Rate Movement

The Federal Reserve constantly evaluates the US economy and, when

necessary, takes steps to address inflationary concerns and avoid economic

recession or depression. The mass media, in turn, reacts by providing a wide

range of opinions and interpretations of the Fed's monetary policy. This can

make it very difficult for consumers to decipher how such actions will influence

interest rates in general and mortgages in particular.

And although actions of the Federal Reserve can have a direct impact on the

Prime rate, mortgage interest rates are dictated by the trading of

mortgage-backed securities, which are similar to bonds and trade on a daily

basis. This means that the real dynamic at the heart of interest rate movement is

the competitive relationship between stocks and bonds.

Stocks, bonds, and mortgage-backed securities compete for the same investment dollars on a daily basis. There is

literally only so much money to be invested. When the Federal Reserve feels that interest rates need to be decreased in

an effort to stimulate the economy, this reduction in rates can often cause a stock market rally. When the market becomes

bullish, the money to invest in stocks comes from the selling off of other investments, including mortgage-backed

securities.

Unfortunately, when mortgage-backed securities are sold off to fuel stock market rallies, this causes interest rates to go

up, not down.

Historically, there have been many instances where the Federal Reserve has increased interest rates, arousing fears that

corporate profit margins would be affected. This resulted in stocks being sold off, leading money managers to search for a

place to invest their newly liquidated assets until the next market rally. One such safe haven has been mortgage-backed

securities, which cause mortgage rates to drop.

The daily ebb and flow of money is what matters most when it comes to the movement of mortgage interest rates. I make

it a point to continuously monitor interest rates for my clients and advise them of opportunities to manage their mortgage

debt at a better rate. This is the foundation of my business model as a trusted advisor.

If media reports have led you to second guess whether it's a good time to purchase a new home, give me a call.

We'll analyze your financial situation together and create a plan that's right for you

Barbeque Etiquette for the Fourth of July, the Most Popular Grilling Occasion of the Year

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RISMEDIA, June 26, 2007?The grill is at the center of the celebration on the Fourth of July, the most popular grilling holiday of the year. According to the Hearth, Patio & Barbecue Association (HPBA), on Independence Day, 71% of grill owners declare freedom from indoor stovetops and ovens, opting instead to fire-up grills in pursuit of delicious grilled food.

The pleasure of preparing a meal with no pots and pans to clean-up, coupled with the enjoyment of the outdoors, are among the top reasons consumers grill - especially on the Fourth of July. Whether you are attending a barbecue or hosting one at your house, HPBA recommends brushing up on your barbecue etiquette and grilling tips to ensure a happy holiday for yourself, friends and family.

As the barbecue host:

-? Do have all grilled food ready at relatively the same time.
-? Do offer grilled vegetarian options.
-? Do think of unique and different types of food items to grill. Fruit, veggies, pizzas and even appetizers can be grilled, not just meat.

As a barbecue guest:

-?? Do feel okay bringing your own sauce.
-?? Do expect the meat to be provided by the host, but pull your weight by bringing your own sides and beverages. Go the extra mile and bring enough to share with others.
-?? Do not touch the grill! In a recent HPBA survey, respondents said only the host/hostess should ‘man' the grill. As a guest you can look, but don't touch.
-?? Do keep food at 40 degrees F using an insulated cooler with ice or ice packs when carrying food to a barbecue.

Food handling reminders:

-?? Do thaw frozen food and marinate foods in the refrigerator and never on the counter.
-?? Do sanitize cutting boards and counter tops with chlorine bleach. Pour small amount on surface and let stand several minutes, rinse thoroughly and air dry with clean paper towel. Soak sponges and dishcloths in hot soapy water to which you've added chlorine bleach.
-?? Do boil any marinade to destroy bacteria if you plan to baste with it or serve it with the cooked meat. Never save marinades for reuse.
-? Marinate meats at least 30 minutes in the refrigerator before cooking to add flavor and coat the meat.
-?? Do refrigerate leftover food quickly (no more than two hours) and use within a couple of days.

When grilling:

-?? Trim any excess fat from meat and poultry to help prevent grill flare-ups.
-?? Turn food often with tongs to prevent charring. Browning is good, but charring is not. Do not press, flatten or pierce the meat ? flavorful juices will be lost and may cause flare-ups. Helpful tip: Browning is a key flavor factor and helps impart delicious flavor and aroma to foods. Should your meat become charred, remove those areas before eating.
-?? Proper cooking temperature is critical to delicious, flavorful food. Use medium heat to avoid overcooking or charring meat, poultry or seafood.
-? Use a meat thermometer or an "instant read" digital thermometer inserted horizontally into the side of meat, poultry and seafood to check doneness.

Recommended Internal Temperatures:

??? Poultry???????????????????????????????? ??165 degrees F
??? Ground beef???????????????????????????? ??160 degrees F
??? Pork (chops, ground, tenderloin)??? ?160 degrees F
??? Large cut pork roasts????????????????? ??150 degrees F
??? Beef roasts, steaks, seafood and lamb?? ?145 degrees F

For more grilling tips, recipes and information, please visit http://www.hpba.org/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

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Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

Choosing the Right Real Estate Agent

Choosing the right person to represent you in negotiating your home

purchase is a major decision. Whenever you see the designation of

REALTOR® (with a registered trademark) you can rest assured that person

is a member of the NATIONAL ASSOCIATION OF REALTORS® (NAR),

and has a commitment to meeting the standards of the organization. My

team and I have a network of professionals that have done a great job for

our clients in the past, and we can provide you with a referral to a qualified

representative, and pre-approval to shop as a cash buyer.

How will you know which REALTOR® is right for you?

Seek to work with an experienced Real Estate professional that works with

buyers on a regular basis. A real pro will go the extra mile to show you that

they will look out for your best interest and gain your respect. Sincerity is a

key word here. This type of Real Estate Agent will act promptly to get you information about their team and their methods

of doing business, along with quotes and references from past clients.

Once you set an appointment to meet with a Real Estate Agent and his/her team, they should be rolling out the red carpet

for you. You should have a personal introduction to each person you are expected to have contact with throughout the

buying process. They should go out of their way to establish a long-term relationship with you, rather than thinking of you

as a one-time transaction.

An experienced buyer's representative will ask many questions regarding your goals rather than tell you what they think

you want to hear. He/she will also take your finances into consideration so that they can help you make the purchase you

qualify for. They will seek to exceed your expectations in every way by having a system in place that provides complete

customer satisfaction.

What can an experienced REALTOR® do for you?

An experienced professional will have access to the computerized Multiple Listing Service (MLS), which changes daily. He

or she can provide you with new listings to consider as they become available, and will also include important

demographics and market value information on the area you are seeking to buy a home. This person will serve as a

strong negotiator on your behalf and provide guidance every step of the way. In the long run, using a trained professional

will save you time and money. It is important to let your Real Estate Agent know what your goals are so he/she can

eliminate the listings that do not meet your criteria.

Likewise, it is equally important to let my team know what your goals are so we can provide you with financing that fits

your current and long-term goals. Our job is not just to close a loan for you, but to help you build a strong financial future

by assisting you with managing that debt in the future. We use an extensive database system that allows us to run reports

and determine when refinancing is appropriate and beneficial.

Call me directly for help finding a qualified REALTOR® you can trust.

June is National Home Safety Month; Are You Prepared for Fire Safety?

RISMEDIA, June 20, 2007-Just midway through National Home Safety Month, tragic house fires continue to dominate the headlines. There have been more than a dozen major multi-death house fires reported by the media in the past three weeks, including two house fires in Pittsburgh, Pennsylvania and Louisville, Kentucky that killed seven children.

"These tragedies are horrific. But, the real tragedy is what we don't learn from the headlines," says David Duley, CEO of PEARL Protected®, the creators of the patented Permanent Escape And Rescue Ladder (PEARL®) for two and three-story homes. "How many of us will go home and practice our fire escape plan or test our smoke alarms? It should be the first thing we think of when we hear of people, especially children, losing their lives in house fires."

Today, PEARL Protected urges homeowners and residents to complete the Home Safety Council's Home Safety Checklist which can be found online at www.hsc.org. This comprehensive checklist will walk readers through all aspects of home safety, from fall prevention to poison control and fire safety.

Additionally, PEARL Protected shares tips on how to prepare a customized fire safety plan for your home based on four critical components: prevention, detection, suppression and escape:

Prevention

- Be sure an adult is always in the kitchen or by the grill when cooking.
- Never leave a candle unattended and keep flames at least three feet away from curtains, furniture or other flammable materials.
- Keep matches and lighters out of sight and reach of children.
- Keep fuel or liquid that can catch on fire, like gasoline, propane, or kerosene, in a safe container outside of the home in a garage or shed.
- If anyone in your home smokes, use heavy, non-tip ashtrays and make sure all cigarettes/cigars are fully extinguished.
- Discard frayed or cracked electrical cords.

Detection

- Make sure you have smoke alarms on every level (even the basement).
- Check to make sure all smoke alarm batteries work. Then, check again every six months. Remember, if you're smoke alarm is more than 10 years old, replace it.
- Mount smoke alarms high on walls or ceilings. Smoke rises!
- Never remove a battery or disarm a smoke alarm.
- Make sure everyone in your home knows the sound of the smoke alarm, what to do next and that the alarm is loud enough to wake up sleeping children and adults.

Suppression

- Keep a fire extinguisher handy in fire-prone areas, like the kitchen and garage, for small fires.
- No matter how small the fire, if you can't extinguish it immediately, get out!

Escape

- Identify two SAFE ways out of every room in the house, especially upstairs. Draw these exits on a map and place a copy in every room.
- If your secondary exit out of an upstairs room is a window, have an easy-to-deploy escape ladder nearby. Permanent escape ladders are an excellent alternative. Unlike portable ladders, they are right where you need them, when you need them and are easy enough for a child to deploy.
- Practice fire escape drills twice a year. Have everyone practice escaping every room in the house and practice crawling low under smoke.
- Pick an outside meeting place where everyone can gather after they've escaped. Remember to mark this spot on your fire escape map!
- Keep doors, stairways and other exits clear of toys, furniture and other clutter.
- Memorize the emergency phone number of the fire department. Remind everyone that they should get out first, and then call for help from outside or at a neighbor's home.
- Close the door behind you. This will slow the spread of fire and smoke.

For more information, visit http://www.nfpa.org/ and http://www.pearlprotected.com/.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Pam Franzen

Mortgage Consultant

Charter Funding

Phone: 262-745-2272

Fax: 262-997-1152

pamela.franzen@charterfunding.com

Annual Percentage Rate

What is the Real Cost of Financing?

Annual Percentage Rate (APR) is a tool that consumers can use as a

starting point to compare loan programs. However, it's important to keep

in mind that APR is not a perfect system, and not all lenders calculate

APR in the same way. While the Federal Truth-in-Lending Act does

require any mortgage broker or lender to disclose APR to the consumer,

there is no rule written in stone for calculating this number that each and

every lender agrees upon.

The point of calculating APR is to let the consumer know what the actual

cost of their financing is in the form of a yearly rate. APR factors in

certain closing costs and fees associated with the loan, and spreads this

total over the life of the loan along with the actual note rate. The

objective is to give the consumer a clearer picture of what their actual

costs are, and this inhibits lenders from hiding fees or upfront costs behind low interest rates in their advertising.

Fees that are generally included in the APR calculation are points, pre-paid interest, loan processing fees, underwriting

fees, document preparation fees, and private mortgage insurance. On occasion, lenders will include a loan application fee

and/or credit life insurance. Fees that are normally not included in the APR calculation are fees from Title, Escrow,

attorney, notary, document preparation, home inspection, recording, transfer taxes, credit report and appraisal.

Remember, all lenders do not perform the calculation the same way. Moreover, APR does not consider the possibility of

making pre-payments, moving or refinancing. Unless the interest rate is tied to a fixed instrument, APR is even more

confusing. Calculating APRs on adjustable rate and balloon mortgages is more complex because we really have no way

of knowing what future rates will be.

If all lenders calculated APR the same way, we could make easy comparisons when deciding on what loan program to go

with. Since they don't, the consumer should know that APR is simply a starting point for comparison. They should rely on

the skills of a well-versed loan professional to assist them in obtaining the loan that meets their specific needs. The more

important things to consider are how long the loan is needed. What are the long-term goals of the borrower? If the

homebuyer only expects to stay in the home for five years, there's not a lot of sense in looking exclusively at 30-Year

Fixed rates because the APR seems more reasonable. If a young couple is buying a home, knowing they will refinance in

eight years to pay for their son's college education, then once again, APR is not a realistic factor to take into

consideration.

The Loan Executive should be prepared to answer questions about APR once the lender provides the Truth-in-Lending

Disclosure Statement (Reg Z), such as why the "amount financed" listed in Box C is not the same as the actual loan

amount, and why the APR is higher than the interest rate on the loan in most cases. The consumer will get a clear

definition about the fees associated with their loan in the good-faith estimate, but the Truth-in-Lending Disclosure is

often an area that is confusing to the borrower.

Stay tuned for more Business Boosters coming your way!

Housing Slump into ‘08 Likely, Study Finds

RISMEDIA, June 14, 2007-(MCT)-The implosion of the subprime mortgage market is likely to prolong the national housing slump, Harvard University researchers said yesterday in their annual report on the state of the nation's housing.

"At a minimum it will slow any recovery," said Nicolas P. Retsinas, director of Harvard's Joint Center for Housing Studies, which issued the report. "Add to that the overbuilding and the inventory correction and you can see why it appears, particularly for the new-home market, that this slump will last well into 2008."

Housing-industry analysts say the riskiest subprime adjustable-rate loans were made in 2005 and 2006. As they reset at higher interest rates through 2008, they are likely to fuel the current surge in foreclosures.

As lenders move to tighten loose credit standards and prevent defaults, it will become harder and harder for subprime borrowers to refinance into more affordable loans, Retsinas said.

"One of the aftermaths of the subprime implosion was a tightening of credit," he said.

Retsinas said problems in the housing industry go beyond lending and foreclosures. Even as prices ease somewhat, affordability remains an issue in many areas, including San Diego.

As home prices doubled in San Diego County between 2000 and 2005, they far outpaced middle-wage incomes. With job expansion here concentrated in the low-paying service sector, the Harvard report foresaw no quick improvement in the region's low housing affordability.

When housing is prohibitively expensive, the economy suffers, Retsinas said.

"The danger is you're going to lose skilled workers who will move to a part of the country where they can get a job and afford a place to live."

University of San Diego economist Alan Gin said he expected home prices to "ease downward some, possibly into 2008." However, Gin agreed that local wages have not kept pace with home prices. Despite the slowing pace of home sales, housing costs have dropped only about 5% from the peak of the housing boom in fall 2005.

According to Harvard's "The State of the Nation's Housing 2007" report, everyone who attempted to profit during the nation's housing boom - buyers, sellers, builders and investors - played a role in the market's decline.

"This housing downturn has been driven largely by the market's own excesses," the report said.

Troubles from risky subprime loans are evident in U.S. markets where home prices soared during the first half of the decade. A record 525 San Diego County dwellings were reclaimed by lenders or sold at auction in April, exceeding a previous record of 433 properties in March, according to DataQuick Information Systems. Even so, foreclosures make up a small fraction of the local real estate market.

Doug Duncan, chief economist for the Mortgage Bankers Association, yesterday said subprime loans had done far more good than harm to the economy. Such loans have opened the door to homeownership to millions of Americans in pricey markets like San Diego County, Duncan said.

Of all outstanding U.S. home loans, about 14% are subprime, he said. Of those, about 19% are delinquent or in the process of being foreclosed on. Duncan expects less than one-third of those will actually be lost to foreclosure.

Among causes of the nation's housing slump, subprime lending "was a contributing factor, but it was not the driving issue," Duncan said.

Consumer advocates and credit counselors hold that many borrowers don't understand the risks associated with subprime loans. Designed for people with low credit scores, they are more profitable for lenders and mortgage brokers than prime loans.

Subprime loans allow borrowers to qualify for credit on low, introductory "teaser" interest rates that adjust upward after several years. They carry higher fees because of the greater risk of default.

When teaser rates end in expensive markets like the San Diego region, monthly mortgage payments can increase by hundreds of dollars, said Paul Leonard, director of the California office of the Center for Responsible Lending.

To avoid defaults, consumers should be educated about the importance of shopping around for the best mortgages, said Melinda Opperman, vice president for community outreach for Springboard, a nonprofit consumer credit management organization.

"I do feel that the worst is yet to come," as more subprime loans move into default, Opperman said.

Some analysts blame Wall Street for the subprime crisis. Because of rising defaults, investors have lost their appetite for securities backed by subprime mortgages, said economist Edward Leamer, director of the UCLA Anderson Forecast. That means the subprime market "isn't going to come back anytime soon," Leamer said.

Copyright © 2007, The San Diego Union-Tribune
Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.