Even those with a steady job and sufficient income are cautious about signing their mortgages for Mercer & Middlesex County NJ homes for sale. They realize that signing mortgages set them up with payments for a significant amount of their lifetimes. Others worry, especially now, about losing their jobs in an unstable economy. The "what if" game begins, and potential homebuyers know that, if they lose their job, there's a very real possibility they might lose their home.

Job-loss mortgage insurance gives homebuyers a "fallback plan" should they ever lose that stable income. It's a definite relief to many who want to buy Mercer & Middlesex County NJ homes for sale, but can job-loss mortgage insurance really help homeowners? Or, is it just another way to swindle the innocent out of hard-earned money?

What is it?

Job-loss mortgage insurance is exactly what it sounds like. Some insurance companies offer an insurance plan to help you pay your monthly mortgage payment should you lose your job. Although it's been around for years, the big companies, such as Bank of America and GE Casualty, have begun picking it up in the past 10 years,.

How does it work?

Job-loss policies pay all or part of your mortgage payment if your job loss is involuntary, and some pay if you become medically unable to work. Policies vary depending on the provider, but most go into action after a month of unemployment. Most also have a wait period which means they won't pay out during the first six months after you've purchased the policy.

Maximum monthly benefits, what the policy covers and whether you have to be receiving unemployment benefits are just a few things to look over while researching providers. As usual with anything insurance, make sure you read the fine print.

Is it worth it?

A lot of financial advisors say not to bother with the job-loss mortgage insurance. Take the money you'd be spending on insurance and build a savings account to hold six months worth of payments. However, many first-time home buyers have depleted their reserve funds just to get the house, and may not have the money to put aside.

My advice to you...

If you're interested in buying one of the Mercer & Middlesex County NJ homes for sale, but you're worried about your job stability, look into job-loss mortgage insurance. Once you have the facts, policy information and coverage costs, figure it into your finances (payments for coverage vs. building a six-month fallback account) and decide what's best for you.

If you're looking for a beautiful home at a price you can afford, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Mortgage payment

http://www.trulia.com/blog/helen_oliveri/2009/07/job-loss_mortgage_insura

GE Casualty

http://community.seattletimes.nwsource.com/archive/?date=20021020&slug=homeharn20

Job-loss mortgage insurance

http://www.insuranceagents.com/homeowners-insurance/job-loss-protection.html

Owning a Mercer & Middlesex County NJ home can be a sign of independence and success.  It allows you to build up equity and the mortgage interest and property taxes are tax-deductible.  Can you afford it, though? 

Reputable lenders look at a list of criteria to decide how much they'll loan you.  This list includes:

•·                     Credit score

•·                     Existing assets including cash

•·                     Car leases or loans

•·                     Credit card balances

•·                     Debt consolidation loans

•·                     Home equity loans

•·                     Installment loans

•·                     Student loans

•·                     Other monthly debts

•·                     Size/source of your down payment

If you'd like to get an idea of what you can afford before talking to a lender, here are a few tools you can use to decide whether a Mercer & Middlesex County NJ home is within your budget:

• As a rule of thumb, your house hunting budget shouldn't be more than 2.5 times your pre-tax annual income.  If you earn $50,000 a year, your budget for house hunting should be around $125,000.

• Your Housing Expense Ratio, which is principal, interest, taxes and insurance (PITI) shouldn't be more than 25% to 28% of your pre-tax monthly income.

• You're Debt-to-Income Ratio should be no more than 36% of your pre-tax monthly income.  This is the ratio between how much you owe and how much you earn.

• Use an online calculator to figure how much home you can afford.

"Qualifying for" and "can afford" are two different things.  Shopping for a Mercer & Middlesex County NJ home within your budget will save you a lot of heartache now and in the future.

If you'd like help determining how much mortgage you can really afford, I can help.  Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

LINKS:

Housing Expense Ratio: 

http://www.mortgageqna.com/mortgage-costs-fees/housing-expense-ratio.html

Debt-to-Income Ratio:

http://www.lendingtree.com/mortgage-loans/advice/qualifying-for-a-loan/calculating-debt-to-income/

figure how much home you can afford: (link to the calculator on your website or use this link)

http://www.lendingtree.com/smartborrower/loan-calculators/

There are many different ways to update your Mercer & Middlesex County NJ home to make it more eco-friendly. 

• In your Mercer & Middlesex County NJ home, install ceiling fans and thermal windows.  Ceiling fans are low energy, cost effective ways of cooling your home without using the air conditioning.  Thermal windows offer insulation from outside heat and cold. 
• Use foam caulking around any cable lines or cords leading to an exterior wall.  This will provide insulation against temperature changes.

• In the winter (or in climates that are cool year round), use the natural sunlight during the day.  Opening the drapes and allowing the sun to come in decreases the amount of energy needed to light and heat your home.  Closing the drapes at night adds another layer of insulation against temperature changes.
• Installing motion sensors on your light fixtures may help to decrease energy usage as well.  The lights will shut off automatically when not in use. 
• Use a power strip that has an on/off switch.  These power strips can be used for video games, stereos, DVD players, and other items that are not in use on a constant basis.  Turning off the switch when they are not in use saves energy. 

If you'd like to buy an eco-friendly home, I can help.  Call me at 732-247-1935 ext 182, or email me at freddie@freddiemoorer.com for more information.

Links:

Thermal windows: http://www.thermalwindows.com/

Foam caulking:  http://www.energystar.gov/index.cfm?c=home_sealing.hm_improvement_sealing

Motion sensors: http://home.howstuffworks.com/home-improvement/household-safety/security/question238.htm

More festive candles are used in your Middlesex & Mercer County NJ condo during the holidays than at any other time of year, so it's important to review the safety rules.  Here are few tips to keep your condo safe:

Candle Placement Preparation

It may sound silly, but you need to prepare before you light that candle.  First figure out where you want to place the candle in your Middlesex & Mercer County NJ condo. 

• Find a heat resistant surface. 
• Make sure there aren't any books, papers, curtains, or bedding nearby. 
• Watch out for flammable holiday decorations. 
• Keep the candle away from windows and vents, and check for signs of a draft. 
• Place the candle where children and pets can't reach and where it isn't likely to be bumped into.

Getting Ready to Light the Candle

• Before burning the candle, review the manufacturer's instructions.  Most recommend that the wick be trimmed to ¼ inch before lighting. 
• Make sure to use only approved candle holders.  Using an unapproved glass holder could cause it to burst and send glass everywhere. 
• Place candles at least three inches apart so the additional heat doesn't cause them to melt improperly.

Burning the Candle

Now that the candle is lit, make sure to never leave it unattended.

• Watch the candle to see if it smokes or flickers a lot.  This could be a sign that the candle isn't burning properly. 
• Leave about two inches of wax when you extinguish the candle.  Most manufacturers recommend that you don't burn the candle all the way down. 

Putting the Candle Out Safely

The safest way to put out a candle is with a candle snuffer. 

• Don't use your fingers or blow out the candle; the flame may travel and cause a fire.
• Never use water to put out a candle; the wax may splatter and burn you. 
• Wait until the wax is cooled before you move the candle.

Candles are a beautiful way to decorate for the holidays in your Middlesex & Mercer County NJ condo.  By following these simple safety suggestions, you can help to ensure that your holidays are happy and safe. 

If you'd like to be in a new condo before the next holiday rolls around, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Heat resistant: http://www.candle-safety.org/

Candle holders: http://www.ehow.com/articles_4355-candles-candle-holders.html

Candle snuffer: http://en.wikipedia.org/wiki/Candle_snuffer

Some people who are supposedly "in the know" believe the American dream of owning a home has died.  They spout "facts" that say home ownership - not just for Mercer & Middlesex County NJ homes, but also across the nation - is no longer on the minds of the majority of Americans.

Additionally, according to some of these individuals, suburban sprawl is the reason for:

•·         the housing bubble burst,

•·         the break down of social mores,

•·         global warming (due to commutes, of course)

•·         and more.

It's amazing that the nation's suburbs can cause so many problems, isn't it?

Is the American dream of home ownership really dead? The number of people buying Mercer & Middlesex County NJ homes versus renting them points to a definitive... maybe. However, in newspapers and on the Internet, we're seeing tons of "if you can't sell your home, rent it out" information. We're seeing potential homebuyers being told that renting may be the best option. Why?

The economy, of course. While there are plenty of want-to-be homeowners, those same people choose to rent rather than own for a wide variety of reasons. The main reason, however, is that they think it will be cheaper.

When you first think of buying a home, it sounds like an overwhelming prospect with lots of money involved. However, while the down payment is much more than it would be for a rental property, it's time to really look at the cost. Instead of example numbers, let me point you to Money-Zine.com's Rent vs. Buy a Home calculator.

Now, before you start plugging in numbers, remember that the national average for a 30-year fixed rate mortgage is around 4.5% - 5%. The national averages for mortgage rates in general range from 3% to 5.5%. Of course, every situation is different, but think about it and really do your research before you decide whether to rent or buy one of our Mercer & Middlesex County NJ homes. Don't just assume it's better to rent; renting may not be the cheap option you think it is.

If you'd like to find your piece of the American dream, I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information. 

Links:

Suburban sprawl:

http://en.wikipedia.org/wiki/Suburban_sprawl

Rent vs Buy a Home Calculator

http://www.money-zine.com/Calculators/Mortgage-Calculators/Rent-vs.-Buy-a-Home-Calculator/

Renting may not be the cheap option

http://customsites.yahoo.com/financiallyfit/finance/article-107589-2419-0-why-rent-when-you-can-buy

Winter is almost here and few things are as comforting as the smell of wood burning in the fireplace of you Middlesex & Mercer County NJ home.  Before you light the first fire of the year, there are a few things you need to do.  Here is the short list for fireplace safety:

Clean Out the Chimney

Everyone wants to get out of the cold weather, including birds and squirrels.  Have a chimney cap installed at the top of the chimney to keep out small animals looking for shelter.  The cap will also keep debris from clogging the chimney.

Have a professional clean out any creosote residue.  Creosote is the build up of carbon from burning wood.  It is flammable and needs to be removed every year.

Creosote is hazardous to your health.  It can cause respiratory problems, so don't try to clean it out on your own.  Some home improvement stores sell a creosote removal log that you burn in your fireplace, it may clean your fireplace incompletely, so it's best to go with a professional chimney cleaning company.

Prepare the Surrounding Area

Before you light the fireplace in your Middlesex & Mercer County NJ home, make sure that the area around it is clear of clutter.  You'll want to make sure there is at least two to three feet of cleared space around the fireplace. 

Invest in a fireplace screen so that nothing is accidentally knocked into the fireplace.  It will also help to prevent burning embers from flying out.

Each time you get ready use the fireplace, clean out the ashes from the previous fire. 

Light the Fire

First, open the fireplace damper so the proper airflow can occur.  Then, start with paper or kindling placed on top of the fireplace grate.  Use seasoned firewood cut to the right length for your fireplace.  A couple of logs will be enough; you don't want to add too many or the fire will suffocate. 

Following these fireplace safety instructions can help you enjoy this winter season without worry.  So, feel free to light that fireplace and soon the aroma of burning wood will fill your Middlesex & Mercer County NJ home.

LINKS:

Chimney Cap:

http://www.fireplacemall.com/Chimney_Caps/chimney_caps.html

Creosote residue: http://www.associatedcontent.com/article/1150360/the_dangers_of_creosote_build_up_in.html?cat=5

Damper:

http://home.howstuffworks.com/home-improvement/energy-efficiency/how-to-conserve-energy-at-home5.htm

Do you have a competitive nature? Do you always have to have the last say? Do you always feel you have to win? If you have a home for sale in Mercer & Middlesex County NJ, you may have "competed" yourself right out of a buyer. Please, read on to find out how NOT to make this mistake.

Who Calls the Shots?

You've probably heard "it's a buyer's market" many, many times already. With the number of people who have a home for sale in Mercer & Middlesex County NJ, this is something you can't afford to ignore. This is especially true considering that the longer your house sits on the market the more it depreciates.

A competitive nature is all well and good, but, when dealing with potential buyers, you have to rein it in. Winning, in this case, is not getting the last word, but selling your home. As you enter into negotiations, keep in mind that the end goal is to sell.

Buyers know they have the market. While this doesn't necessarily mean they'll try to walk all over you, it does mean that they may try to negotiate:

• On price
• On closing date
• On inspection period
• On closing costs
• On anything

Now, just because they're trying to negotiate doesn't mean they aren't qualified buyers. You may have a very qualified potential buyer trying to negotiate with you.

Warning: at this point, your competitive nature may try to rise up and crush the negotiating potential buyer. Restrain yourself - strenuously if you have to.

While dealing with offers, counter offers and counter-counter offers, ask yourself if you're being competitive, silly or surprisingly realistic. Are you turning down their offer because it isn't an exact fit for you? Do you have a legitimate reason for the counter offer, or are you trying to "one-up?" Will a requested change really make that much difference to you?

Although I'm not suggesting that you take the first offer that comes along without looking at it, or that you take an offer that is less than you can afford to take, I am suggesting that you remember there are plenty of people with a home for sale in Mercer & Middlesex County NJ. As you look at the offers, keep this in mind. Shut down that competitive nature and remember that the only way you really win is when you sign the papers and hand over the keys.

Ready to get your home sold?  I can help. Call me at 732-247-1935 ext 182 or email me at freddie@freddiemoorer.com for more information.

Links:

Buyer's market

http://www.investorwords.com/641/buyers_market.html

Closing costs

http://homebuying.about.com/od/financingadvice/qt/BuyClosingCosts.htm

Counter offers

http://homebuying.about.com/od/offersnegotiations/qt/CounterOffers.htm

You've reached that time in your life where you're ready to buy Middlesex & Mercer County NJ  real estate.  Even though the mortgage approval process can be intimidating, you can get yourself ready to apply for a loan.  These are the first steps to buying your home:

Make a List

First, make a list of your finances.  Include all your income, and factor in your normal monthly debts.  Miscellaneous bills, like your daily coffee or weekly magazine, should be listed too.  Write down everything that you spend each month.

Calculate what 28% of your income is.  Most loan officers recommend not spending more than 28% on your housing costs.  You may not want to take on a mortgage loan for the maximum amount offered without consulting your list to see what money is actually available for you to spend.

Decrease Your Debt

Once you've have detailed your finances, it's time to make a budget.  A good budget can help you eliminate wasteful spending which will allow you to pay off more of your debts.  When planning your budget, don't forget to include some personal money. 

Start with the small debts first.  Pick the credit card with the highest interest rate and smallest balance and work from there.  After one debt is paid off, use the extra money that you're saving from the first card, and pay off the next.  This way, you should be able to pay your balances down quickly.

It only takes a couple of months of good payment practices to begin to see your credit score go up. With a good credit score, you can get a better interest rate.  This will save you thousands of dollars in mortgage payments over the life of the loan.

Save For the Down Payment

You're ready to start saving for the down payment on your Middlesex & Mercer County NJ real estate.  It has to be paid up-front at the loan closing, but sometimes the seller will pay the closing costs.

If you'd like more tips on how to buy Middlesex & Mercer County NJ real estate, subscribe to this blog.  It's free and easy.  Just enter your email address in the subscription section, and you'll automatically receive tips like this in your email inbox a couple of times a week.

LINKS:

Decrease your debt:

http://www.wisebread.com/six-steps-to-eliminating-your-debt-painlessly

Make a budget:

http://www.mrcheapstuff.com/deals/2009/06/how-to-create-a-budget-the-painless-way/

Credit score:

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm

It doesn't matter if you're buying or selling a home, consulting an experienced Mercer & Middlesex County New Jersey real estate agent is a smart move. Here are five steps to finding your perfect agent:

1. Ask about experience

Although many new Mercer & Middlesex County New Jersey real estate agents are good at what they do, ideally, you want to work with an experienced expert. Someone with extensive experience can efficiently get through the process and streamline the fine details.

1. Confirm costs

Before getting in too far, find out if you are both on the same page when it comes to costs. Make sure to outline everything in writing ahead of time. This way you eliminate surprises in fees later.

1. Discuss turnaround time

Find out whether or not your Mercer & Middlesex County New Jersey real estate agent can find or sell a property within the timeframe you desire. Many factors can affect such turnaround, but it's good to discuss these details in the beginning to help you get a feel for your agent's track record.

1. Inquire about online listings

These days, 80% of home buyers start by viewing listings online. Make sure your agent has the capability to show you homes online and showcase your home for sale online. If not, this may be a sign that their office is not up to date.

1. Check availability

Learn about your agent's schedule. If he or she is splitting real estate time with another job, you need to know that upfront. This will help you determine whether or not this agent has the commitment you're looking for.

Finding the right Mercer & Middlesex County New Jersey real estate agent can take some time.  It's worth the effort to secure the most capable person for the job.

I'd love to have the opportunity to interview for the job as your real estate agent.  Call me today at 609-865-0484 or email me at freddie@freddiemoorer.com.

Links:

Extensive experience

http://www.credit.com/mortgage-course/find-realtor/choose-realtor/

Weichert Realtors

&

Weichert Financial Services

Invites you to attend our...

Home-buyer Seminar

Find Out...

What's really going on in the local Real Estate Market?

How much can I afford and is financing still available if I do not have much money to put down?

What are the steps involved in buying & how do I get started?

How do I get a $8,000 tax credit as a buyer?

Why is NOW THE BEST TIME TO BUY

Call: Freddie L Moorer 

732-247-1935 ext 182  or  email 8000taxcredit@freddiemoorer.com

to reserve your seat

Refreshments will be served