For Your Reading Pleasure - Who's the Millionaire? - 04/28/08 10:59 AM
The average millionaire has been on the job for 30 years. Probably living in the same town and owning a factory, service firm or chain of stores. She has been married twice and remained married. She lives in a middle class neighborhood, next to a family with a fraction of her net worth and you won't see her driving a new BMW because she knows it is a depreciating asset and her money is better off somewhere else.Last, she develops goals, writes them down, identifies milestones and makes every effort to reach them. … (0 comments)

Time and Money... Best Friends - 04/17/08 08:03 PM
Would you like a million dollars OR a penny that doubles every day for a month? A million dollars is nice, but a penny that doubles every day will be worth for more. In fact, over 30 days, that penny grows to more than $5 Million Dollars! And if it's October and you have 31 days... yup, $10 Million Dollars! Interestingly enough, up to 25 days, it's not even $100,000. But then, with just a few more days and TIME, the money starts to explode in value. That's why sticking with an investment plan and adding dollars over TIME is so … (0 comments)

Tax Freedom Day... What is Tax Freedom Day? - 04/17/08 07:57 PM
How would you like to work for four full months and not get paid? Well, that's not quite a great anology, but that's what the tax man does to us. For the average American, you work for almost four full months just to pay your taxes. The remaining eight months are yours. PA ranks 18th out of 50 States with #1 being the worse State.Read more about Tax Freedom Day, by clicking right here.See your accountant for legal ways to reduce "shorten" your Tax Freedom time. … (1 comments)

Reverse Mortgages... Bad or Good? - 04/17/08 07:56 PM
There are always pros and cons to almost every financial decision you make or financial service/product you buy or invest in. The same is true with a Reverse Mortgage (RM). It makes me angry when I see media/print/pundits giving negative publicity in a blanket manner about a specific product. Reverse mortgages are not for every senior, BUT... they are wonderful products for many seniors.*For some seniors, a RM is one of the best ways for them to keep and stay in their home longer and keep it in good condition.*For some seniors, a RM is an excellent tool for financial planning. … (3 comments)

Facing Financial Dysfunction... Top Financial Advisor gives advice - 04/13/08 03:07 PM
One of the premier Financial Advisors in the US, Bert Whitehead gives some financial advice thru our Mortgage Advisors Newsletter. This is part 3.If you missed part 1 or 2 of "Facing Financial Dysfunction", you can find those right here.PA's Leading Lender FAIRWAY Independent Mortgage Corp. We provide residential mortgage lending in Lancaster County and all of PA. Licensed by the PA State Dept. of Banking as a First Mortgage Banker. … (2 comments)

What's Happening in the Market? - 04/13/08 03:03 PM
PA's Best Lender and Certified Mortgage Planning Specialist gives market commentary.  Find out what happened last week and what events and reports may move the market in the coming week.  You will also find a good chart on bond prices over the past 90 days.  Bond prices are a good indicator for what is happening to mortgage rates.     
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Mortgage Industry Employment Stabilizing? - 04/13/08 02:58 PM
Employment in the mortgage industry appears to be stabilizing, with a loss of only 700 jobs in February, as refinancing activity and loan workouts keep the current work force busy. The U.S. Bureau of Labor Statistics reported Friday that employment in the mortgage banker/broker sector fell from 364,800 in January to 364,100 in February. The industry has lost 28% of its work force since February 2006, and it is back to the level last seen in July 2002, according to the Mortgage Bankers Association's senior director of economic forecasting, Orawin Velz. "Job losses seem to be stabilizing," Ms. Velz said. "That … (2 comments)

What's "News" in the Market and Where are Rates Going? - 04/05/08 06:35 PM
Click here for a quick read on where the market was last week and where it's going.  Nobody knows for sure... in general, bad economic news will help interest rates go lower.  Strong, positive economic news and/or inflation will tend to push mortgage rates higher.  You can subscribe to this weekly "Market Commentary" by sending an email to me at kenp@fairwaymc.com
Certified Mortgage Planner, Ken Pederson, delivers commentary on the market every monday morning.  PA's best lender provides financial education to consumers and professionals.   
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Senate Fast-Tracks Housing Stimulus Package - 04/05/08 06:28 PM
This is NOT inked yet:Legislators on both sides of the aisle agree: a 15-billion dollar housing package is just what the country needs. Here are some of the highlights of the proposed legislation:1. Funding to help borrowers refinance out of unaffordable loans and boost communities that are pulled down by foreclosures;2. Business tax breaks for homebuilders;3. Tax credit and deductions for homeowners and home-buyers;4. Significant changes to FHA, such as increasing loan limits and down-payment requirements.A vote is likely for next week. This latest move came about after Democrats conceded on points that cleared the way for Republican support. The Dems … (2 comments)

To Prepay Your Mortgage or Not? That is the question... - 04/05/08 06:21 PM
Many homeowners like to pay extra on their mortgage to shorten the term. A 15 year mortgage is nothing more than a forced, extra payment with no flexibility that just paying extra when you want provides. The big question is this, should you prepay or take out a 15 year loan? The obvious answer is yes, because of the interest savings. But you need to dig deeper to get the right answer because interest savings isn't the only consideration.Click right here: Give this 2 page newsletter a few seconds to load, you will find an easy read here; to prepay or … (2 comments)

To Prepay Your Mortgage or Not? That is the question... - 04/05/08 06:20 PM
Many homeowners like to pay extra on their mortgage to shorten the term. A 15 year mortgage is nothing more than a forced, extra payment with no flexibility that just paying extra when you want provides. The big question is this, should you prepay or take out a 15 year loan? The obvious answer is yes, because of the interest savings. But you need to dig deeper to get the right answer because interest savings isn't the only consideration.Click right here: Give this 2 page newsletter a few seconds to load, you will find an easy read here; to prepay or … (0 comments)

 
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Ken Pederson, Certified Mortgage Planner

Lancaster, PA

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FAIRWAY Independent Mortgage Corp

Address: 3008 Columbia Avenue, Lancaster, PA, 17603

Office Phone: (717) 431-9299

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Ken Pederson, a mortgage lender and Certified Mortgage Planner in Pennsylvania, talks about wealth accumulation and mortgage advice.


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