Wisconsin Mortgage Tips, Information & Gwennie!

Hot Off The Press - Answers to Questions on the New and Expanded Tax Credit

Fri, 06 Nov 2009 11:58:25 -0600

The Government Affairs division of the NAR just released Answers to a few important questions that have come into light as the result of the $8,000 tax extension and the expansion to of a $6,500 credit to buyers who are NOT qualified as first time home buyers. I was also able to find a few more great answers from Robert Dietz, economist for the National Association of Home Builders.

We feel it is important to provide this valuable information in a timely manner. Please keep in mind that the bill is scheduled to be signed into law today and the fact are unfolding as I post this imformation......

Here are some of the most frequently asked questions on the changes to the Homebuyer Tax Credit

Question: "When does the program start? I already signed a contract, it closes in December & have owned our house for 11 yrs.... Do we qualify for the $6,500 credit?"

Answer: You qualify, says Robert Dietz, economist for the National Association of Home Builders. The bill will become law when the president sigAnswerns it, which was expected to be Nov. 6. In general, Mr. Dietz says, home buyers who close on their house after the bill is signed qualify.

Question: - Existing homeowner credit: Must the new house cost more than the old house?

Answer: - No. Thus, for example, individuals who move from a high cost area to a lower cost area who meet all eligibility requirements will qualify for the $6500 credit.

Question: I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. IfPresident Obama has signed the bill by the time I go to settlement, will I qualify for the new $6500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (when the bill is signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.

Question: I am a first time homebuyer but was not within the prior income limits at the time I entered into my contract to purchase on October 30, 2009. I will be covered, however, by the new income limits. If the new rules have been signed into law by the time I go to settlement, will I be eligible for a credit?

Answer: Yes. The new income limitations go into effect as soon as the President has signed the bill. The income limit and other eligibility rules will look to your status as of the date of purchase, which is the settlement date. So if the new rules have been signed when you go to settlement, you should be eligible for the credit (or a portion of the credit if you're within the phaseout range).

Question: "My husband and I were transferred from (Texas) to (Indiana) over the summer for his job. We had owned our home in (Texas) for 11 years. We closed on our new (Indiana) home in August 2009. If the tax credit will be retroactive, we qualify in every other way. Anyone know if we will qualify for this tax credit, or if we're going to get taken for $6,500 just because we bought a few months too soon?"

Answer: Unfortunately, the bill has no "grandfather" clause, Mr. Dietz says. "If you're an existing homeowner, and they've closed prior to the date of enactment, when the president signs the legislation, they simply do not qualify."

Question: I am an eligible existing homeowner. I have a fair amount of equity in my home. I have found a home with a nonnegotiable price of $825,000. Will I be able to use any of the $6500 tax credit?

Answer: No. The $800,000 cap on the cost of the purchased home is firm at $800,000. Any amount above $800,000 makes the home ineligible for any portion of the credit. The $800,000 is an absolute ceiling.

Question: I owned my home for 10 years, but sold it two years ago year and have been renting since. If I purchase a home, will I be eligible for the $6500 tax credit if I meet all the other eligibility tests?

Answer: Yes. Because you lived in the home for more than 5 consecutive years of the previous 8, you will qualify for the $6500 credit. For example, Say John and his wife bought a home in 2000 and lived there until 2008 when he got a divorce. Whether John has been renting or bought in the interim, he WOULD INDEED be eligible for the credit because he owned a home and occupied it as his principal residence for 5 consecutive years out of the last 8 years. The keyword here is "consecutive." As long as he lived in that house for 5 years straight what he did since 3 years doesn't impact eligibility.

Question: I am an eligible first-time homebuyer. I entered into a contract to purchase on November 1, 2009. Do I have to go to closing before December 1? How does the extension date affect me?

Answer: You do not have to close before December 1. Once the legislation has been signed, it will be as if the Nov 30 date had never existed. Therefore, so long as the contract settles before April 30 (or July 1, worst case), the purchaser will be eligible for the credit.

Question: "I sold my first house of 7 years this past July. I am currently building a new house and it is scheduled to be finished in the next few weeks. If I officially close on it in December can I qualify for the $6,500 or did [I] just fall through both cracks?"

Answer: It depends. If you are purchasing the lot from the builder and close after the bill is signed, they should be eligible, Dietz says. If instead the home buyer owns the lot, he or she will have to occupy the building before the bill's sunset date of April 30, 2010.

For a comparison chart provided the NAR - please visit this link:

http://www.realtor.org/fedistrk.nsf/files/government_affairs_tax_credit_ext_chart_110409.pdf/$FILE/government_affairs_tax_credit_ext_chart_110409.pdf

Gwenn Tanvas is a Certified Mortgage Planning Specialists who specializes in Credit Restoration and Government Programs such as FHA, State and Federal VA and USDA Rural Housing Loans. Visit her website for more information, on-line calculators and a secure on-line application. She is able to assist with transaction throughout the state of Wisconsin. Her offices are located in Appleton, Oshkosh and Green Bay and offers the convenience of one-stop shopping. http://www.WisconsinLoanTips.com or http://www.MortgageProsOfWisconsin.com she can also be reached for comment or to answer questions via email at gwennt@centurytel.net

Wisconsin Realtors, Grab Your Opportunity to Get Gwennie's Revolutionary New Property Marketing Technology Tool and it is FREE for the asking!!!! http://www.WisconsinPropertyPromoter.com - Check it out!

WHOOO HOOOO! We Are Just A Pen Stroke Away From New Tax Credit Benefits For All Home Buyers

Thu, 05 Nov 2009 16:03:48 -0600

It will be official soon - Reuters is reporting that the $8,000 Tax Credit extension and expansion of a new $6500 credit for all buyers, has been approved by the House and now heads to President Obama to be signed into law.

On Wednesday, the Senate voted to extend and expand the tax credit to include many buyers who already own homes. Guess what, home buying pie just got a little sweeter, how about $6,500 sweeter! Today it was approved and off to the Oval Office where it is expected to be signed, sealed and delivered!

Here it is in a nut shell - I will continue to provide updated information as it becomes available....

People buying a new or "step-up/down" home and have owned their current homes at least five years would be eligible for tax credits of up to $6,500.

The First-time home buyers; which include anyone who hasn't owned a home in the last three years, can continue to get up to $8,000.

The details indicate that in order to qualify, buyers in both groups mentioned above, will be required to enter into the purchase agreement no later than April 30, 2010. The new law also states that the transaction MUST close on or before June 30.

It has been reported that nearly 1.4 million first-time home buyers have benefited from the tax credit. This number is from August, so the number sure to grow as many pushed to meet the now extended deadline. The NAR (National Association of Realtors) has estimated 350,000 of the buyers would not have purchased their homes without the credit.

I myself have enjoyed helping scores of new buyers over the course of the past several months and look forward to new activity that is sure to pop up as the result of this extension and expansion.

If you are not familiar with the details of the original tax credit, here are a few helpful links.

Top 21 Questions Answered on the $8,000 Tax Credit for 1st Time Home Buyers

Burning Question Answered! Is a Duplex or Multi-Family Dwelling Eligible for the New $8,000 First Time Home Buyer Tax Credit?

I will continue to provide updated information as it becomes available. Happy House Hunting......

TBW - Taylor, Bean & Whitiker Release Information for Consumers - Pass It Along

Sat, 22 Aug 2009 15:54:09 -0500

On August 4th, 2009 Taylor, Bean & Whitaker (TBW) were abruptly shutdown by the Feds. As the result consumers who have Mortgage Loans have been in the dark with regard to the future servicing of their accounts - This is especially troublesome to the people who had automatic payment withdraws setup. We recently learned that TBW has not drafted any automatic payments since August 10th. If your mortgage payment was scheduled to be drafted after this date, you may be in jeopardy of a late payment and additional fees.

In a memo issued by Taylor, Bean & Whitiker (TBW) on August 20th (Click Here to Download), Taylor, Bean & Whitaker provided information and contact information regarding the future of loan servicing and updated contact numbers. Below is a screen shot of the memo in its entirety -

Please pass this important information onto your customers, colleagues and friends. If anyone needs assistance with Wisconsin loans that were in process when this unfortunate event occurred, please feel free to contact me. We have set-up a special priory program to assist in finding remedy -

HVCC Gets BAD Press - Listen Up Everyone Watch this great Video - - - !

Wed, 19 Aug 2009 10:48:05 -0500

Think Big Work Small has released a great new Video on HVCC - Watch this great video - They tell it like it is.... Share it, Re-Post it, Get it Out -

HVCC is wreaking havoc in our industry - It is doing more harm than good. We need to stick together and work for resolution so our industry may see recovery.

Do not miss the Active Rain Bonus at the end of the Video - It features Active Rain Blogs.....

ENJOY!

Click on the image or follow this link http://www.thinkbigworksmall.com/mypage/player/tbws/14538/1095856

First Time Homebuyer Guide - Part 1

Wed, 19 Aug 2009 09:03:06 -0500

Pam has got the "Right Stuff" unfortunately she is in Mississippi - I just love typing that word M I S S I S S I P P I! - I can remember reciting it when I was a small child - I think it was the biggest word I learned to spell at the time..... LOL

If you are looking for a great buyers agent to help you with your Wisconsin property purchase, please contact me and I will get you to an agent who will take care of your every need. Thanks Pam -

Via Pam Simpson - GRI, Broker-Assoc. (Bob Leigh & Assoc., LLC):

First Time Homebuyer Guide - Part 1
by Pam Simpson
Desoto-Tate County Real Estate

This guide is designed to help first-time homebuyers better understand the overall process and steps in purchasing a home.

There will be 6 parts in this series ranging from finding an agent and lender to different loan programs and what to expect at closing. This first time homebuyers guide is VERY elementary and simple in order to help those buyers who are seeking guidance on where to start their quest for home ownership.

***If you live an area other than Northwest Mississippi, the process could be a little different.***

The best guide is your LOCAL REALTOR®.

Part 1: We think buying a home is a good idea, what do we do? (Selecting an agent)

So you've been doing your research on the internet and you have decided that buying a home is right for you. You have a lot of questions. What is PITI? What is the process for buying a home? How much of a house can we afford?   You may be confused and just want someone to point you in the right direction.

Many first time homebuyers never even get out of the starting gate because they are paralyzed by questions and they don't know where to get answers.

That is where a good Buyer's Agent comes in. A great way to find an agent is ask family, friends and co-workers for a recommendation. Many of them have bought and sold real estate and will know a professional Realtor® who can help you. The best Realtor® for you is one who is knowledgeable about the area, keeps up with first-time homebuyer incentives, and "clicks" with you as a person.

You may be wondering if you can just find the house on your own (by looking in magazines, internet, driving around) and then call the listing agent. Well, you can and in Mississippi a Realtor® can legally represent both the seller and the buyer. It's called dual agency.

But, why would you not want someone specifically looking after your best interests (and only your interests)?   Your own buyer's agent will have information about many more homes than you may be able to find on your own. I am asked by buyers how much I will charge them for my services. Most of the time, the Buyer's Agent fee is paid from a portion of the seller's agent commission. I have never charged a buyer client 1 penny for my services.

A good Buyer's Agent will ask you several questions to help pinpoint what type of home you are looking for and to help you find the right lender. They will want to get a general feel for your likes and dislikes, your general lifestyle and what you wish to accomplish by purchasing a home.

By the way, an agent and a REALTOR® are not exactly the same. This can be a bit confusing. An agent is someone who has passed the state's real estate licensing exam and has been granted a license to sell real estate. A REALTOR® is an agent who is also a member of the Association of REALTOR®s. This membership obligates them to abide by a stricter code of ethics.

Part 2 in this series will discuss finding the right lender and loan program.

If you are considering buying a home in Northwest MS, I would be happy to assist you. I love working with first-time homebuyers. You have the questions and I have the answers. Contact me today.
==================================================================

About the author:   Pam Simpson is an Assoc. Broker with Bob Leigh & Associates, LLC in Northwest MS. Copyright© 2009 by Pam Simpson. All rights reserved...***First Time Homebuyer Guide - Part 1***

FOR BUYERS: Buying a Foreclosure, Finding a Home, Loan Info, Tax Credit, Interest Rates

FOR SELLERS: Pricing, Selling Tips

LOCAL COMMUNITY INFO: Tate County Community, Memphis Community, Southaven Community, Hernando Community

MARKET REPORTS: Foreclosure Report, Hernando MS Report, Olive Branch MS Report, Tate County MS Report

REALTOR STUFF: NAR, Real Estate and Media, Real Estate Agents

OTHER: Rural Life, Breast Cancer Awareness, Angel Food Ministries, Property Rights, Auctions

Disclaimer: All information provided by this author may be based on information collected from several sources and is believed accurate but not guaranteed.

Is a Government Insured Mortgage Right for You? A Series - part 1

Wed, 19 Aug 2009 08:29:37 -0500

Is a Government Insured Mortgage Right for You?
series of articles - part 1

Risky mortgages backed up by small down payments are a thing of the past. In today's world, most lenders aren't underwriting mortgages unless you have a significant down payment, and a high credit score. Did you know that there is a decades-old loophole can still put home buyers in a house with little money down and in some cases . . . just $100... In fact here in Wisconsin every county in the state has areas that qualify for zero down financing. The programs I am referring to are an FHA Insured Mortgage and USDA Insured Mortgages. They have been in existence for many years; and in the case of FHA, it is likely that your parents or grandparents had an FHA Insured Loan when they purchased their first home.

Mortgages insured by the Federal Housing Administration (FHA) allow borrowers to get approved with a down payment as small as 3.5% of the agreed selling price of the house and don't require a high credit score. If you happen to run across a home for sale that is owned by HUD, FHA offers a special $100 down payment program as an incentive to purchase a HUD owned home.

The looser terms of FHA-insured mortgages have helped make them more popular. Did you know that FHA-insured mortgages make up about 25% of the mortgage market? This figure is up from 3% in 2006, In a speech earlier this month, FHA commissioner David Stevens said "In June, the FHA insured 194,000 loans - the highest monthly total in the agency's history". For fiscal year 2009, the dollar amount of FHA-insured mortgages is likely to reach 30% of mortgage origination's, up from around 4% in 2005 and 2006, says Stu Feldstein, the president of SMR Research, a mortgage-data tracking firm.

The bottom line is that FHA, USDA, and other government insured loans are a viable option in today's market. They are a specialty product that requires in-depth knowledge of the rules and guidelines. It is imperative that you work with a qualified mortgage loan person who specializes in Government Insured Mortgages. In doing so, you will place youself in a position for success in obtaining a great home financing plan that is sure to provide you and family with tremendous benefit for years to come.

In today's ever-changing lending environment, it is absolutely essential that anyone looking to take advantage of these great loan programs and great interest rates, work with a LOCAL person who specializes in Government Insured programs.

I hope this has been of benefit to you - Please come back for the series on Government Insured Mortgage Opportunities -

How to determine if an FHA-insured mortgage is right for you; Do you meet the qualifications?

If you are looking to purchase or re-finance in the state of Wisconsin and would like to discuss your options, please feel free to contact me via email, or simply pick up the phone and give me a call. I am happy to help..... Make it a great one....:)

Don't forget about the $8,000 credit for first time home buyers for people who have NOT owned a home in the last 3 years. Time is running out - For details and answers go to the Top 21 Questions Answered on the $8,000 Tax Credit for 1st Time Home Buyers article.

Wordless Wednesday - Good Morning Mom!!!! Any Takers?

Wed, 19 Aug 2009 07:25:23 -0500

Speechless Sunday - Pink Skys & A Sunday Morning Delight!

Sun, 26 Jul 2009 09:29:28 -0500

Spectacular Summer Sunset! I snapped these photos from my deck. I awoke Sunday morning to a happy garden smiling at me. I just love the sight and smell of a dewy morning after a summer rain! Enjoy. I hope this makes you smile..... Have a great Sunday.....

Sunday Inspiration - A Word From Good Olde Nap

Sun, 19 Jul 2009 13:50:05 -0500

INDIVIDUALS WITH POSITIVE MENTAL ATTITUDES ARE NEVER FOUND IN A RUT. A Rut as Earl Nightengal said, "Is Nothing More than a coffin with the ends kicked out".

Individuals with a positive attitude are those who somehow always manage to find something new and interesting even in the most mundane tasks. They don't allow themselves to be bored, because they are always seeking ways to do things faster, better, and more efficiently. If you make it a practice to find better ways to do the same old things, you will soon be marked for advancement. You will be supervising others who are performing your old job because you've proven that you are a person who can be counted on to take the initiative and do what needs to be done without being told.

This positive message is brought to you by the Napoleon Hill Foundation. Visit them at http://www.naphill.org

I cannot speak for anyone else, but I need to be inspired. It is like a shot in the arm; a refreshment that keeps me moving in the right direction. I hope this inpires you too!!!! Have a great week ahead....

Speechless Sunday - Thunder Rolls Through The Wisconsin Sunset

Sun, 19 Jul 2009 11:55:34 -0500

What Is A Mortgage Broker? What Do They Do? How Are They Regulated?

Sat, 18 Jul 2009 18:18:00 -0500

There are many myths about just what a Mortgage Broker represents, and over the course of the past year, our profession has taken a few hard blows. I am truly passionate about my work and the people I serve. It is very important to me that we gain a strong voice in our local communities and set the record straight as to who we are and what we represent as an industry and more importantly . . . an asset to people we serve.

Having spent numerous years in the insurance industry, I often use the example and comparison of our industry to that of an Independent Insurance Professional. The local Bank is like State Farm or Allstate Insurance. The products and services they offer are great, however limited to one set of products and/or services. A Mortgage Broker, similar to the Independent Insurance Agency who has the ability to offer an array of products and service to meet the needs of our diverse clientele.

Wisconsin Mortgage Brokers play a curtail role in keeping our economy strong. Each year millions of American purchase a new home or refinance a current mortgage. Get this . . . Mortgage Brokers originate over 50% of all home loan transactions in the US, which represents more successful transactions than any other source in the nation.

Please note: Throughout this article, there are references to Mortgage Brokers. Information contained within also applies to Loan Officers who are employed by a Mortgage Broker.

Who In The Heck Are Mortgage Brokers?

We are typically small business men and women.
Who own and operate a small tight knit business of typically 10 to 25 loan officers and/or support staff.
We are independent contractors serving as liaisons between our valued customers and the lenders
We are members of the local community

What We Do...

We provide a critical link between you the borrower and credit markets;
We bring much needed capacity and competition to the mortgage market by offering a broad range of products and mortgage planning strategies to the consumer;
We have access to the largest lenders in the nation and offer the consumer expert advice and access to all Government programs

How Are We Different From Bankers?

Bankers typically sell their own mortgage products; a mortgage broker maintains relationships with scores of lenders, allowing the broker to offer the borrower numerous choices on products and programs to suit their individual needs;
The depth and access to products puts downward pressure on pricing throughout the market, to the benefit of all consumers; and
As Independent business' who reply heavily on repeat and referral customers, we work very hard to ensure client satisfaction and provide a high level of personalized service to our customers and prospects.

How Are We Regulated?

Mortgage brokers must comply with all applicable federal laws, including the Real Estate Settlement Procedures Act (RESPA), the Truth and Lending Act (TILA), the Fair Credit Reporting Act (FCRA), and the Equal Credit Opportunity Act (ECOA)
Mortgage brokers are also regulated directly by state lending laws. In the state of Wisconsin, all Mortgage Brokers and Loan Originators MUST be individually licensed through the successful completion of pre-licensing education and exam, in addition to continuing education courses mandated by state law. Brokers and Originators must also submit to a criminal background check.

I hope this article has been helpful to you. It is my intention to provide valuable information to my clients and prospective customers, so they may make informed and educated decisions with regard to their mortgage planning and needs.

No More DoughNuts! Cooperative Marketing Project - Your Host - John Coughlin

Sat, 18 Jul 2009 14:48:48 -0500

This beautiful home is hosted by John Coglin of Coldwell Homes in Appleton, WI - Please note the links are live. Please take a few moments and view the virtural tour and other great features presented here. If you need assistance with financing or simply have questions, please feel free to give Gwenn Tanvas of Patriot Mortgage a call. She is an expert in her field and will take great care of all of your needs.

W6173 Long Ct
Appleton, WI 54914-8595
Beautiful home - large 1/2 acre lot

John Coughlin

Mobile:	920-450-5500
Office:	920-993-5400
Website:	Visit Website

Price	:	$307,900
Bedrooms	:	4
Bathrooms	:	2.5
Square Foot	:	2,810
Lot Size	:	21,780
County	:	Outagamie
Property Type	:	Detached
MLS Number	:	20904381

click for more information and pictures

Property Description

Beautiful home on large rolling town lot. Cherry wood flooring. Ample kitchen cabinets and large adjoining dining area. Great room has transom windows and double doors leading to large deck overlooking manicured sloping yard. Trayed ceilings in the Master bedroom and bathroom, plus front room. Multi purpose rooms; formal dining or office, another room could be den, nursery, office, or music room. Upper level has three bedrooms and full bath. Convenient first floor laundry. Centrally located powder room. East side of house and rear of garage has a huge professionally landscaped garden patio with lights and fountain. Exterior is brick Hardy Plank siding. Three car garage for all the cars and toys. View this home today!

Features List

Great curb appeal	Open concept	Custom cabinets
Hardwood flooring	1st fl master	3 car garage
Extensive landscape	Park-like yard	Convenient location
Near Fox River Mall	Close to airport	Close to Hwy access
View today. Call	John 920.450.5500

Equal Housing Opportunity.

The Real Estate Group : 1050 N. Lyndale Drive - Appleton WI 54914 : 920-450-5500

No More DoughNuts Please - A Cooperative Marketing Project - Listing on Behalf of Tom Otis

Sat, 18 Jul 2009 14:37:34 -0500

Wonderful Erb Park Charmer - Appleton, WI Your Host - Tom Otis - Remax 24/7 Appleton, Wisconsin

1611 N Morrison Street
Appleton, WI 54911
Wonderful Erb Park Charmer

Thomas Otis

Office:	920-284-8508
Mobile:	920-284-8508
Website:	Visit Website

Price	:	$139,900
Bedrooms	:	3
Bathrooms	:	2
Square Foot	:	1,674
Lot Size	:	9,240
County	:	Outagamie
Property Type	:	Detached
Year Built	:	1896

click for more information and pictures

Property Description

Charming character home on Appleton's north side across from Erb Park. Tastefully decorated with many updates, kitchen, bath, windows roof. KItchen has breakfast bar, and huge pantry and mud room. Beautifully designed original hardwood floors grace the diningroom and livingroom. Bathroom is updated and are on both levels. Large deck off kitchen leads to a deep backyard. This home has been updated but retains all it character and charm....Welcome Home!

Features List

Updated kitchen	Across from Erb Park	Tastefully decorated
Breakfast bar	Tree lined streets	Warm Colors
Pantry	Great location	Master with Skylite
Mud room	Walk to pool	Beautifull hardwood
Updated bath	Breezy Front Porch	Stainless apl
Newer roof	nicely landscapd	Huge backyard
Large Deck	2 car garage	Great floor plan

Equal Housing Opportunity.

24/7 Real Estate, LLC : 2835 W College Ave, - Appleton WI 54914 : 920-284-8508

Wisconsin's "Biggest Little Parade"! What the Mind Can Conceive and Believe...It CAN Achieve -

Sat, 18 Jul 2009 14:02:34 -0500

The Tent is Down on another successful Parade and Community Festival in Downtown Tustin. As we look back on the 2nd Annual event, I want to personally thank all who contributed to its success. The funds raised from this and other events sponsored by T.C.C.Y.P. will directly support the dreams and aspirations of kids throughout Tri-County Area of Winnebago, Waushara and Waupaca Counties.

The highlight of the parade was the "4 Men And A Flag" Float - When they came through the parade route there was not a dry eye on the streets. It was amazing that they held their position for a full 50 minutes.

A 4th of July Parade would not be complete without the honored guest "Uncle Sam" Thanks Kevin "Nutty" Kellogg and your talent of walking on stilts!

Left - Another crowd favorite"The Tustin Hilbilly's - On their time off from Hillbilly antics, they are our dedicated Volunteer Firemen from the Tustin and Poy Sippi Fire Departments.

Below - Our 2009 King and Queen - Bob Malony and Roza Hock -

Who says that a small group of dedicated people cannot make a difference????? It all began in the fall of 2007 when together with a girlfriend we won a local pool ($44) and pledged our winnings to create an organization that would be supported by local events and benefit our community.

We knew we needed help, so we rounded up the girls and began brain storming. After many, many hours . . our child was born! "The Tri-County Community Youth Project" -

Our Mission . . . To provide a positive and supportive opportunity to local youths so they may grow to be successful role models and contribute positively to their community today, and into the future".

A Day At The Park With The Green Bay Packers - Donald Driver Charity Softball Game

Mon, 15 Jun 2009 12:37:19 -0500

On Saturday June 12th, Fox Cities Stadium in Appleton was host to the annual Donald Driver Charity Softball Game! Finally a beautiful weekend here in North Eastern Wisconsin. My hubby Donnie and I headed out to the ball park to watch the Donald Driver Charity Softball game at Fox Cities Stadium. We had really great seats . . . right behind home plate. I took this opportunity to try out my new Cannon Rebel! All money raised from this event benefit The Special Olympics.

The sun was shinning bright and warm, so we jumped on the bike and headed out to the park. If you live in Wisconsin or the Mid-West, you know how quickly the weather can change. One minute we were enjoying the game, player antics while basking in the sun; and just about half way through the top of the 7th inning, the clouds rolled in, temperatures dropped and we were running for cover.

We had a wet bike ride home, but made it safe and sound. It was so nice seeing the players having fun for a great cause.

Here they are demonstrating their quick feet and hands while taking in a mini boxing match!

We left just before the game ended and the defense was ahead by several runs- I am thankful that the rain held out and fun was had by all. Put this on your list of things to do next year. It is a great family event and a great cause.

Why is it taking my loan so freaking long to close?

Mon, 15 Jun 2009 08:33:53 -0500

From the perfect FHA customer, to the seasoned and established borrower, all have their share of issues when trying to complete a loan transaction. I cannot count how many people I have talked to over the course of the past few months who have been turned down by a bank after weeks/months of waiting for information.

As Jason mentions below, we eat, drink and sleep this business because we have a passion for it and the people we serve. We have options and a creative motivation to work outside of the box. So next time you are looking for a friend when shopping for a mortgage to purchase a home or re-finance a current loan, give us a call.

We are always ready and willing to provide no cost consultations and impeccable service today and in the future. Make it a great day!!!!!

Via Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans):

Before I attempt to answer that question, interested readers should know something. I am a loan officer by trade. That's what they call us. I don't particularly like that title, but what's in a name?

I don't get paid an hourly wage or a salary. If I don't close loans, I don't make a dime. If I don't make a dime, that means I can't eat, drink, or even sleep if I can't afford to make my mortgage payments. That's not a sales pitch, that's a reality. It's in my best interests to close every loan that comes under my wing. While there are ethics involved to ensure you are doing your client right, if I can offer and do a loan for you that puts you in a better financial situation, I want to close your loan as fast as possible. It's not only in your best interest, but mine as well.

So why is it taking so freaking long? Good question. Here's a few observations on my behalf:

More volume with less 'able and willing' people to deal with it. Let's be honest here (I love that line:), the mortgage industry isn't exactly the most attractive line of work to get into now. To boot, a whole lot have left it. I'm still here because I'm stubborn and good at what I do. Plus, I believe you have to go through hell to get to heaven. Call me selfish, but I think my time here will work out very well in the end. Even if it doesn't, Economics 101 has us dishing out the phrase, "Too much demand and little in the way of Supply."

Front-end incompetence. If you are searching for a pre-approval from a lender, get the appropriate documents in order before you ever even fill out an application. If they don't ask you for such documents, they may have more ties than me. Either that, or the final result won't be what they promised. Do yourself a favor, get your W-2's, pay-stubs, bank statements, etc, in order. If your loan officer doesn't ask for it immediately, ask them why they don't need them. That will put a spark up their ass.

Changes. This is a tough one. It's hard to tell someone who is a completely competent borrower, why the area they are in or the house they chose isn't on the "I love to lend in" realm. The only real advice I have on this one is if you are dealing with someone you trust, they will get you through the current bullshit that is going on.

They just don't like you. Well, we live in a society where that is not acceptable. Folks actually look at your loan, but you aren't nearly as personal to them as you would like. I work for a relatively small company and see that. I can only imagine what working for a large one would entail. Work with an individual that you trust, that you can reach out to and at least communicate with. There is a common thing with that, you both share the same self-interests. He/She gets paid only if your loan closes. You only get what you desired after paying for an appraisal, maybe an inspection or two, and actually being able to be comfortable within the confines of a few walls that aren't labeled as "Prison".

The Government. Now, I really don't want to wax political or get involved in any sort of debate about policy, parties, or general ideology. But I already have since mentioning this. We don't need the Government in this Private Sector. We didn't need them back then; we don't need them now. Those of us (I include myself because frankly, this is my business) who know the Real Estate Industry also know how it is to be corrected. Let's demonstrate how we will make sure such an extreme reaction to market won't happen again. It's a cycle, learn to ride.

We'll reach those Golden Years, but it takes work and patience. Why is it taking so long for your loan to close? Because this ain't a pay-day loan, this is a roof over your head. Maybe this is the opposite extreme of giving everyone with a pulse a mortgage, yet you know what they I say about extremes... "They are to be avoided."

Wordless Wednesday - Shawano Lake Sunset

Thu, 11 Jun 2009 08:26:49 -0500

Wisconsinites Look at this $8,000 FIRST TIME BUYER TAX CREDIT - CHECK RECEIVED !!!!

Sun, 07 Jun 2009 12:42:33 -0500

The tax credit is real and if you are contemplating purchasing your first home in Wisconsin in 2009, it is important to get pre-qualified and start the process. Interest rates continue to be at an all-time low and the availability of homes is in your favor. Do not delay any longer - We are here to help you every step of the way!

We look forward to beginning the process and walking you through step by step.

Via Sheldon Neal -- That British Agent -- (Bergen County, NJ - RE/MAX Real Estate Limited):

This is an actual check from one of my First Time Buyers who bought a home last month, and immediately filed his 2008 tax return - which he had already filed an extension for - and this week received the above check !

... before his home purchase, his return was going to give him a refund of approximately $4,000 !!!! ... as you can see, he qualified for the tax credit, and received $8,000 additional dollars from the government for buying his home.

@@@ FOR FURTHER INFORMATION - BE SURE TO CONSULT YOUR ACCOUNTANT TO SEE IF YOU CAN RECEIVE THIS YOURSELF @@@

Per the IRS.gov website, you may qualify to receive this credit if you meet the following qualifications:

"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."

The credit itself:

Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.

Applies only to homes used as a taxpayer's principal residence.

Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.

Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

So if you were considering buying a home this year - be sure to talk to your accountant as you may also qualify to get $8,000 extra dollars for buying your first home !

ALSO: Be sure to check out a post from respected Loan Officer Jeff Belonger explaining how you may be able to receive an 'up front loan' for this credit to use towards closing costs or additional downpayment over your mandatory 3.5% payment on your FHA loan !

@@@PLEASE NOTE: ALL INFORMATION ABOVE DEEMED RELIABLE PER THE IRS.GOV WEBSITE, HOWEVER IS SUBJECT TO CHANGE AT ANY POINT ON ANY DAY ! - CONSULT YOUR TAX ACCOUNTANT BEFORE EXPECTING ANY PORTION OF THIS CREDIT.

@@@@ UPDATED: BELOW IS THE FORM NEEDED TO FILE FOR THIS CREDIT IF YOU QUALIFY - YOUR ACCOUNTANT SHOULD HAVE IT AND WALK YOU THOUGH IT ! GOOD LUCK !

Hilbert WI - Beautiful Country Estate!

Fri, 05 Jun 2009 09:04:53 -0500

N5576 Maple View Lane
Hilbert, WI 54129
GORGEOUS STUNNING LOCATION DESIGN..MUST SEE!

Keith Krepline

Office:	(920) 993-7004
Mobile:	(920) 540-1322
Website:	Visit Website

Price	:	$499,900
Bedrooms	:	4
Bathrooms	:	2.5
Square Foot	:	2,083
Lot Size	:	44,850
Community	:	Grogan Maple Hills
County	:	Calumet
Property Type	:	Detached
MLS Number	:	20901291

click for more information and pictures

Property Description

N5576 Maple View Lane, Town of Stockbridge

EXQUISITE COUNTRY PARADISE with gorgeous, unobstructed views of Lake Winnebago as you are nestled upon a hill in Grogans Maple Hills subdivision. Quick 25 minutes to downtown Appleton or Fond du lac. Built in 1999, superb layout and design radiate from every level. Almost EVERY room enjoys an incredible view of Lake Winnebago and awesome sunsets. Stunning gardens, stone walls and fenced courtyard surround this home and will greet you on the way to the front step. Enter into elegance and beauty that shows from every corner of this walkout ranch. Entertain in style in the dining area with floor to ceiling window overlooking an outdoor deck and endless views of Lake Winnebago. Showcase your collectibles in the built-in, glassed-China cabinet w/pull racks for linens that separates the dining area from great room. Built-in entertainment center and French door to outdoor deck grace the great room that opens to the gourmet kitchen with Corian counter tops, pull-out drawers, appliance garage, water filtration system, walk-in pantry, etched glass in cabinets pantry, recycling system, super sized center island/snack bar and central vac with kitchen dustpan! AWESOME! The main gathering area has vaulted ceilings, red birch solid wood flooring and walls of windows. Enjoy reading in the sunroom w/built-in bookshelves, wall of windows and 3-way gas fireplace. A powder room is convenient to the front entrance dining area. 1st floor laundry room w/pet door to the exterior, raised washer/dryer & sink. Experience a master suite get-a-way...vaulted ceiling, stained glass transom, built-in bookcase, built-in ironing board, gas fireplace, built-in window seat, French door to outdoor deck, an exceptional master bath w/walk-in limestone shower, heated limestone floors, walk-in his & her cedar lined closets, his & her sinks and a whirlpool...added BONUS is the view from her closet of the lake! In the LL, enjoy a "grandmas corner" with built-in bookcases..could be changed to a wet bar area. 2 large bedrooms, a unique & large family designed with a full bath with 3 separate areas...has to seen to appreciate! More built-in shelves to the incredible office area (could be 4th BR) w/built-in desk. LL is heated with pipes under floor and forced air vents. Direct entrance from garage to basement. Quiet vent system, central vac, auto lights in closets & pantry, drop center and bench near back door, silent floor system and so much to see first hand! Large maintenance free decks, natural gas line for charcoal grill on deck, 5-6 person spa, large pond with Koi, sprinkler in flower beds....don't miss this opportunity of a lifetime to see a home of your dreams! Additional 1.19 acre lot across the street from home available. See listing agent for details.

Equal Housing Opportunity.

Guaranty Realty Group-TREG : 1050 N. Lynndale - Appleton WI 54911 : (920) 993-7004

Wordless Wednesday - Oh My! How Does The Garden Grow?

Thu, 04 Jun 2009 10:43:36 -0500

Weekly Buyers Tip - Total Cost Consideration Is More Than Just The Mortgage

Thu, 04 Jun 2009 10:34:23 -0500

Buying a home is a big investment, but owning one comes with a new set of expenses you may not have had while renting. It is important to keep in mind that your mortgage payments are just one piece, and a fraction of what the cost will be once you move into your new home.

When you purchase a home, there are several thing to take into account when putting together your budget. Here is a list things to think about when planning for your home purchase.

Home Owners Insurance. Insurance needs to be purchased before you can get a mortgage. Insurance premiums vary greatly due to the type of home you are purchasing, the location among other items.
Property Taxes. Your property taxes are based on the value of your home, so the more expensive your home, the more tax you will be required to pay.
Utilities. If you were paying utilities when renting, you are familiar with this expense, but more space and rooms requires more utilities usage.
Appliances. Most homes come with most major appliances, but you may have to purchase one or two - most commonly the washer and dryer.
Furniture. Moving from a well furnished one-bedroom apartment to a two or three bedroom house makes one realize how much space there is to fill.
Home repair & Maintenance. This expense comes and goes from one month to the next, but be prepared for something to pop up at anytime when owning a home.
Yard Care. Caring for your yard requires large expenses such as a lawnmower and possibly a snow blower if your location is known for heavy snowfalls. Not to mention smaller tools like shovels, rakes, trimmers and so on to complete your yard care arsenal.
Remodeling. From small projects, like painting, to larger items like new kitchen cabinets, hardwood floors, carpeting or a complete gutting of a bathroom, the expenses for remodeling projects vary, but often add value to your home.

I hope you have found this little tip helpful! I wish to much success in your house hunting and may you enjoy the many benefits of home-ownership.

New To Wisconsin - Revolutionary New Technology Revealed to Grow Your Real Estate Business

Thu, 04 Jun 2009 08:45:20 -0500

Revolutionary New Technology Revealed to Grow Your Real Estate Business- Have you tried it? Here is your opportunity!

Buying and selling real estate is a complex matter. In today's real estate market, to stay ahead of the curve, Realtors and Lenders must align themselves. Over the course of the past 12 months, our industries have literally turned upside down. As the result, we must reinvent our marketing plan to succeed and prosper in this new environment.

A few months back I was fortunate in attending a national marketing conference where I was given the ultimate gift. Over the past few months, I have had the opportunity to play with the technology and perform several tests. It is simply amazing -

Here are just a few things it can do:

-Post to Craigslist, Facebook, Twitter, LinkedIn and Myspace with one click
-Professional Listing Presentation, use to get new listings and keep the ones you have
-Send Mortgage Calculator to your clients phone that shows your name and phone number at the top
-Virtual Tours with single pictures
-Panoramic views with single pictures, new and free technology cuts them together, must see to believe.
-Sign riders allow client to text for information of the home including pictures and website
-Many options that you can see on the example website - To see it now, go to http://3347nelsonroad.greatcustomhome.com and see for yourself!
-"I Have Moved" personal website for your clients to show off their new home to there friends, family and co-workers.
-Business Stickers of the home with the click of a button, just have to print out.
-Automatic upload each and every night to over 7 of the most popular online real estate shopping sites.
-Your own personal website is also included if you don't have one even if you do its your to use. see a sample here - http://bblick.valuedagent.com/
-So many features and I will be happy to setup a free demo just for the asking!

If you have any questions or would like your own personal presentation of this tool email me at UPPONLINE@gmail.com Either my self or Susan will be happy to show you around.

If you want to start using this tool right now, you can sign up at http://www.WisconsinPropertyPromoter.com -

This tool is available to you at no cost so you have nothing to loose. I would suggest signing up for the tool at http://www.WisconsinPropertyPromoter.com, use the tool for a couple days and see the power of this awesome technology for yourself!

This is not a teaser to get you to buy something - It is an extension of service to help market and perpetuate our industry -

You could have your first property on Craigslist in less than 10 minutes :)

Make it a great day and I look forward to many successes and the opportunity to meet and work with many of you.

All the best - Gwenn Tanvas 920-858-1203

Consumer Quickies: Five Things You Need To Know About The Mortgage Market Right Now!

Sat, 21 Mar 2009 13:06:40 -0500

I could not have said it better myself - Here is some important information to digest -

Also, please check this information on 100% financing - credit scoring and refinances - and credit restoration

Via Jason Sardi, Mortgage Banker (FHA-VA-USDA-Conventional-Pennsylvania Loans):

If you are going to boogie, learn to dance.

As many of you know, the Mortgage Market is changing faster than Tom Welling's Superman character into his "get-up" in the television show, Smallville. It's truly a jungle out there and you'll need a Machete, Cargo Field Pants, and the proper Guide to navigate you through the ever growing foliage. As a guide in the jungle that is the Mortgage Industry, I wanted to give some simple bits of information to arm you on your journey.

In no particular order, please take note of the following as they may be pertinent along your travels:

As of April 1st, 2009, FHA will reduce the LTV's (loan amount compared to the value of your home) on cash-out transactions. It currently is 95% but that will be cut back to 85% real soon. To ensure you can get in before the guideline changes, an appraisal case number must be assigned to your home before said date.

100% Financing is still available! Yet, the only two products currently sporting this popular product are VA & USDA Loans. For more information and shameless self-promotion on the latter, click here. Might I add that if you are going to utilize 100% Financing, try to ensure you have money in the bank after the fact. Being a homeowner bears certain responsibilities. God forbid something goes wrong and you don't have Lenny The Landlord to fix the issue. You don't when you own a home. The responsibility falls on you.

Know your Credit Score. I can't stress how important that is these days. I got word from one investor today who has changed their minimum credit score on ALL Mortgage Products to 660. Most are at 620. A few still may go below that but proceed with caution. Know the rules and learn to use them to your advantage. For more extensive insight on Credit, grab that mouse and left click right here.

Pay close attention to what homes like yours are selling for (not just being listed for) in your area. That's a good indicator of what your home is currently worth in this market.

While the media may give you the heads up in the drop in interest rates, contact your Mortgage Professional to get the real scoop. Taking the anchor of CNN's advice on where Mortgage Rates are at are akin to asking me what the weather will be like tomorrow. By the way, you can expect a balmy day with hints of fog glazing the ides of morning... turning into a slightly breezy, overcast, but generally nice day. High will be 99 Degrees. Low will be -20. But don't quote me on that.

If you are considering buying a home in the least bit, be aware of the First-Time Homebuyer Tax Credit. It could prove to be another incentive (in addition to low interest rates and a large amount of inventory) to take that next step in owning your own home. It isn't a reason in of itself, yet it is icing on what could be a very delicious piece of cake.

I will be writing about five more useful tips very soon. I wanted to keep this short and sweet, like Ryan Seacrest:) Besides, you only have so much time on your hands while you sift your way through this jungle.

And if you aren't already a homeowner, you may want to take that leap. If you have the right Guide, you aren't just drawing on faith when you are in mid-air.

About The Author: Jason Sardi has been on the lending side of the Real Estate Business for over eight years. His passion for helping people and general disdain for con-artist blowhards has kept him trying to do right by as many people as possible along the merry way. You can reach this happy chap by email @ jsardi@ihmci.com or by phone @ 610-439-2166 ext. 229. He's a survivor in that jungle out there and has the scars to prove it:)

New Opportnities For Wisconsin Home Buyers - Up To 100% Financing for Mid-Income Families

Sat, 21 Mar 2009 12:53:20 -0500

When A Window Closes . . . A Door Opens - Income Limit Increase Pave A Way For Wisconsin Home Buyers.

On Monday, the Wisconsin USDA office in Stephens Piont announced an income structure change that will pave a road to home-ownership for thousands of home buyers. Prior to the change, income limitations were broken into eight (8) tiers. Each tier representing a household income limitation based upon the number of people residing in the home. The new structure will provide much more versatility by going to a two (2) tier banding structure.

What does this mean to you? Here is an example. This will vary from state to state and county to county within each state.

Previously, in Brown County, Wisconsin, the income limits for a one-person household was $52,000 to qualify for a loan. The income limits for a household of four members was $74,300. Under the new structure, that same one-person household could have an annual salary that falls between the one- to four-person income band, allowing for more applicants to qualify.

Important point- There are pockets of qualified areas within each state that abut major metro areas. For example here in Wisconsin in Waukesha County, the following communities fall within the qualified areas: Dousman, Wells, Delafield, Hartland, Sussex, North Prairie, Big Bend and Franklin to name a few.

Dane, Pierce and St. Croix Counties limits increased to $88,400 for tier 1.
NOTE: The limit figures are from the previous structure and new figures are not currently available. More will be announced as soon as the change is officially enacted.

I encourage you call my office TODAY to get pre-approved for this great home loan program. 920-858-1203 - I guarantee you will be glad you did. This is a great loan program and is not limited to first-time home buyers. Together with the first-time home buyer tax credit, this program is a winner.

Here are some IMPORTANT highlights of the program:

NO Down Payment
NO Monthly Mortgage Insurance
NO Cash Reserves Required
Competitive 30 year fixed rates - no penalties - no funny stuff
Prior Bankruptcy, Short Sale, Foreclosure OK with 620+ Credit Score -
NO Maximum loan amount or purchase price - Loan amount are only limited to the applicants repayment ability and appraised value!
Used for Purchase of Existing Home, New Construction and New Manufactured Homes.
NO Limitation on source of closing costs -100% gifted closing cost or down payment assistance PERMITED - Soft 2^nd Mortgages are allow for closing costs, even if the total debt exceeds the appraised value.
Finance up to 102% of Appraised Value for closing costs and loan fees -
Seller Concessions Allowed

If I were you, I would be jumping off that fence! Oh look . . . I am here ready jump with you and assist in getting you qualified and on your way to the closing table.

Let's Go! If I can be of help to anyone wanting more information on this great program for home buyers, please feel free to shoot me an email.

Consultations and Pre-Qualification are always NO CHARGE - If you need help improving your credit, I am your gal.

Get Into The NO-FEE Zone - Your 717 Credit Score Is Simply NOT Good Enough Anymore!

Fri, 20 Mar 2009 18:15:32 -0500

Back in 2003 you saved tons of money when you refinanced your mortgage at 5.5%. Your current balance is $159,000 and you are geared up to take advantage of the historically low interest rates by refinancing again - You know you are set because you have good credit and 22% equity in your home; Right?

Please keep in mind that this also applies toward people who are looking to purchase a home and applies to Conventional Conforming home lending.

A call to your Bank and Local Mortgage Broker reveals a truth never mentioned in the media and throws you into shock when you learn that even with your good credit score and equity position, you will have to pay an EXTRA $1,193 in fees to get the best interest rate; The rate you have been sitting on the fence waiting for! Consider yourself lucky, as if your score (while still above average) were 699, the cost would DOUBLE to $2,386 . . . Not to add insult to injury, but the additional fee is over and above closing costs!

WHAT IN THE WORLD IS GOING ON! Well our friends Fannie Mae and Freddie Mac - the enormous quasi-government bodies we have all become to know, have been buying up mortgages from banks and wholesale lenders in mass quantities. I am sure that we are all aware of the HUGH risks and payouts we tax payers have absorbed over the past quarter; But perhaps you have not been brought up to speed on the direct effect consumes will have as the result. Fannie and Freddie have increased their fees DRAMATICALLY!

As the result of the increased fees placed on the Lenders by Fannie and Freddie, the lenders are charging more based upon RISK! The basis for the increased charges are credit scores, equity or loan to value, occupancy and whether or not a borrower is consolidating, purchasing or just refinancing their existing home loan. Furthermore, it is assumed that the better the borrowers credit score (above 720), and the more equity, the least likely they are to let their homes go into foreclosure. A lower score (719 and below) and less equity would suggest the latter.

Here is the bottom line; Unless your credit score is 720+ and have a least 25% equity, expect to pay more for your mortgage; Either in settlement fees, or interest rate. The lower the score, the more one will pay . . . In some cases, up to 3% more, in the event that their credit score falls below 660.

While you cannot do much to improve your equity position (without an outlay of cash), you can improve your credit scores DRASTICALLY within a few short months.

Please feel free to reference:

Is Credit Standing In Your Way Of A Home? Tips From The Experts - And Credit Repair Questions Answered - part 1 -

and

Is Credit Standing In Your Way Of A Home? Getting Negative Items Deleted From A Credit Report - Fact or Fiction? Tips From The Experts - And Credit Repair Questions Answered - part 2

Your credit score has NEVER been more important. In this day and age, it affects everything; the interest rate we pay on our credit cards, our car insurance, our homeowners insurance, and in some cases our ability to land a new job, a promotion, and when it comes to our beloved military, that long sought after ranking.

Did you know that something as small as a $12.00 medical collection that you were unaware of could cost you 75 - 100 points and THOUSANDS of Dollars. Do you know where you stand?

We have seen these changes coming for months now. As the result, we have associated ourselves with a law firm who are EXPERTS in credit repair. They are Honest, Integral, and Fair - More importantly, the fees will require a second job!

Get into the NO-FEE ZONE and look into credit restoration. It will save you literally thousands of dollars and bring your piece of mind.

http://www.WisconsinLoanTips.com or http://www.MortgageProsOfWisconsin.com she can also be reached for comment or to answer questions via email at gwennt@centurytel.net