Joe Bartolotta's Blog

Confused by credit come-ons? Help protect your clients privacy.

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Sun, 26 Aug 2007 21:09:14 -0500

Joe Bartolotta Florida's Upfront Mortgage Broker 407.340.0220

http://www.joebartolotta.com/ Fidelity Mortgage Services

I am reading the "Your Money" section of the Sunday Orlando Sentinel and the title says "Confused by Credit Come-Ons?". It piques my interest so I read the entire article and decide it is a good topic to share in the Active Rain community. Anika Myers Palm, a Sentinel Staff Writer, wrote the article.

The story starts out with a woman who really wanted to buy a house. After applying for a mortgage, she gets inundated with offers from other financing companies telling her they can do better and that she isn't getting the best deal. One caller even told her that she might already be in default even though she hadn't even made her first payment.

The woman stated, "when it first started happening, I was opening the mail and I panicked".

Who is to blame for this happening to her? The mortgage company she applied to? The credit bureaus?? I guess it depends on whom you talk to, but in my opinion, the blame rests solely on the credit bureaus. I tell you why a little later.

When we (mortgage companies, loan officers) check a person credit report, our search is encoded with information that indicates the consumer is applying for a mortgage. Third party companies buy and sell this information; some people refer to this information as "trigger leads". These trigger leads are sold and other mortgage companies then call and mail the individual.

Who's to blame? Mortgage companies say that the problem is the individual may not know it is another company calling them and supply additional information to them that will in turn trigger another credit check. This potentially could throw confusion into the loan process. The credit industry says that mortgage companies are just a little bitter because the market has turned in the last few years. Regardless of who is to blame, consumers need to be aware that this takes place.

I have been charting the trigger leads generated by my own inquires. I have found that if you enter only the minimum information needed, the client receives very little contact from other companies vs. entering everything and having the client contacted by everyone under the sun. By minimum, I mean name, address and social security number. I do not enter birth date, employment info, income, etc on the application while I am pulling the clients credit report, I save that for after I have received the report.

I feel the blame lies on the credit bureaus because they are SELLING this information. They are trying to say they are giving the consumer more choices of which to choose from. I feel they are giving away someones personal information to anyone willing to pay the price but in the end, the consumer is the one that pays the price in numerous ways. Identity theft is just one way that all consumers pay the price.

There are a few things consumers can do to "opt-out", one is to call 1.888.567.8688 or visit http://www.optoutprescreen.com/. The consumer will be asked to enter some personal information, which the FTC says is confidential, and will only be used to process the request. In conjunction with opting out, the consumer should visit www.dmaconsumers.org/cgi/offmailing to remove themselves from receiving notices about new businesses in the community, coupons or catalogs unless the consumer has directly signed up for them.

If anyone has any other ideas or suggestions, please feel free to share them in the comments section. Working together, we can accomplish many more things than working alone.

Are you ready to buy a home? Ask yourself these questions.

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Sat, 25 Aug 2007 22:54:16 -0500

This is the first post in a series of 5, expect the next posting soon.

Are you ready to buy a home?

You can find out by asking yourself some questions:

Do I have a steady source of verifiable income? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable?
Do I have a good record of paying my bills?
Do I have few outstanding long-term debts, like car payments?
Do I have money for a down payment?

If you can answer "yes" to these questions, you are probably ready to buy your own home.

The real estate market in central Florida is perfect for a home-buyer, there are a great selection of homes on the market, prices are stable and mortgage rates are near historic lows. The real question is, are you ready to buy a home. Lenders have been tightening their guidelines over the last 7 to 8 months in the wake of the sub-prime woes.

Do I have a steady source of verifiable income? Have I been employed on a regular basis for the last 2-3 years? Is my current income reliable? The answer to all three of these questions needs to "YES" in order to qualify for a mortgage today.

Do I have a good record of paying my bills? The answer to this question will be displayed with your credit report. The better your record of paying bills, the better your credit score will be. Lenders have been tightening their guidelines over the past 8 months and are no longer willing to risk lending to borrowers with "shaky" payment history.

Do I have few outstanding long-term debts, like car payments? If you do, this will dramatically lower the amount of financing you can obtain. In general, you would want to have no long term debt defined as debt that will take over 10 months to pay off.

Do I have money for a down payment? The short answer is you will be better off if you do, you will typically receive better rates and terms on your mortgage. Although, most lenders still have 100% financing available through the "My Community" and similar type programs that are very prevalent throughout the industry but the criteria to qualify for these types of programs has changed over the 8 months.

If you are a first time home buyerand have any questions about this blog post, please feel free to contact me at anytime, I look forward to hearing from you.

Respectfully, Joe Bartolotta Florida's Upfront Mortgage Broker

Service member Civil Relief Act

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Fri, 24 Aug 2007 22:45:29 -0500

Everyone is talking about foreclosure in the sub-prime market but what about our service personnel? What is happening to the National Guardsmen and Reservists mortgages while they are overseas and earning less then they did while here in the states? While looking up information on numerous governmental websites, I came across the SCRA of 1940 and thought it would be appropriate to place the information on AR and get it in the hands and minds of people in the real estate industry. Below is some information that will be helpful to Military, Reservists and Guardsmen.

Questions & Answers for Reservists, Guardsmen and Other Military Personnel regarding mortgage payment relief and protection from foreclosure provided by the Servicemembers Civil Relief Act (formerly known as The Soldiers' and Sailors' Civil Relief Act of 1940).

Who Is Eligible?

The provisions of the Act apply to active duty military personnel who had a mortgage obligation prior to enlistment or prior to being ordered to active duty. This includes members of the Army, Navy, Marine Corps, Air Force, Coast Guard; commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration who are engaged in active service; reservists ordered to report for military service; persons ordered to report for induction under the Military Selective Service Act; and guardsmen called to active service for more than 30 consecutive days. In limited situations, dependents of servicemembers are also entitled to protections.

Am I Entitled To Debt Payment Relief?

The Act limits the interest that may be charged on mortgages incurred by a service member (including debts incurred jointly with a spouse) before he or she entered into active military service. Mortgage lenders must, at your request, reduce the interest rate to no more than six percent per year during the period of active military service and recalculate your payments to reflect the lower rate. This provision applies to both conventional and government-insured mortgages.

Is The Interest Rate Limitation Automatic?

No. To request this temporary interest rate reduction, you must submit a written request to your mortgage lender and include a copy of your military orders. The request may be submitted as soon as the orders are issued but must be provided to a mortgage lender no later than 180 days after the date of your release from active duty military service.

Am I Eligible Even if I Can Afford To Pay My Mortgage At A Higher Interest Rate?

If a mortgage lender believes that military service has not affected your ability to repay your mortgage, they have the right to ask a court to grant relief from the interest rate reduction. This is not very common.

What If I Can't Afford to Pay My Mortgage Even At the Lower Rate?

Your mortgage lender may allow you to stop paying the principal amount due on your loan during the period of active duty service. Lenders are not required to do this but they generally try to work with service members to keep them in their homes. You will still owe this amount but will not have to repay it until after your complete your active duty service.

Additionally, most lenders have other programs to assist borrowers who cannot make their mortgage payments. If you or your spouse find yourself in this position at any time before or after active duty service, contact your lender immediately and ask about loss mitigation options. Borrowers with FHA insured loans who are having difficulty making mortgage payments may also be eligible for special forbearance and other loss mitigation options. More information about help for homeowners who are unable to make payments on a mortgage is available on the HUD website at http://www.hud.gov/offices/hsg/sfh/econ/econ.cfm.

Am I Protected against Foreclosure?

Mortgage lenders may not foreclose, or seize property for a failure to pay a mortgage debt, while a service member is on active duty or within 90 days after the period of military service unless they have the approval of a court. In a court proceeding, the lender would be required to show that the service member's ability to repay the debt was not affected by his or her military service.

What Information Do I Need To Provide To My Lender?

When you or your representative contact your mortgage lender, you should provide the following information:

- Notice that you have been called to active duty;
- A copy of the orders from the military notifying you of your activation;
- Your FHA case number; and
- Evidence that the debt precedes your activation date.

HUD has reminded FHA lenders of their obligation to follow the Act. If notified that a borrower is on active military duty, the lender must advise the borrower or representative of the adjusted amount due, provide adjusted coupons or billings, and ensure that the adjusted payments are not returned as insufficient payments.

Will My Payments Change Later? Will I Need To Pay Back The Interest Rate "Subsidy" At A Later Date?

The change in interest rate is not a subsidy. Interest in excess of 6 percent per year that would otherwise have been charged is forgiven. However, the reduction in the interest rate and monthly payment amount only applies during the period of active duty. Once the period of active military service ends, the interest rate will revert back to the original interest rate, and the payment will be recalculated accordingly.

How Long Does The Benefit Last? Does The Period Begin And End With My Tour Of Duty?

Interest rate reductions are only for the period of active military service. Other benefits, such as postponement of monthly principal payments on the loan and restrictions on foreclosure may begin immediately upon assignment to active military service and end on the third month following the term of active duty assignment.

How Can I Learn More About Relief Available To Active Duty Military Personnel?

Read this article describing the Servicemembers Civil Relief Act (formerly known as The Soldiers' and Sailors' Civil Relief Act).

Servicemembers who have questions about the SCRA or the protections that they may be entitled to may contact their unit judge advocate or installation legal assistance officer. Dependents of servicemembers can also contact or visit local military legal assistance offices where they reside. A military legal assistance office locator for each branch of the armed forces is available at http://www.hud.gov/utilities/intercept.cfm?http://legalassistance.law.af.mil/content/locator.php

U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
Telephone: (202) 708-1112 TTY: (202) 708-1455
Find the address of a HUD office near you

I looked on the website specifically to see if this information is copyright protected but did not find anything. By far, the majority of the above information was taken directly from the website and I am making no claims to be its owner. I am simply trying to get the information out to more of the public through the AR community.

Is a Reverse Mortgage right for you?

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Thu, 23 Aug 2007 23:27:27 -0500

Reverse Mortgage Facts...Is a Reverse Mortgage right for you?

Have you heard about Reverse Mortgage but always wondered what they were? Is a Reverse Mortgage right for you?

Senior homeowners age 62 and older can use Reverse Mortgages to access the equity in their homes and convert the equity into monthly streams of tax free income and/or a line of credit. This is accomplished without having to sell the home, give up title, or take on a new monthly mortgage payment. More and more seniors are faced with increasing living costs and are unable to meet the financial demands of today's world. A Reverse Mortgage will allow them to stay in their home and enjoy a higher standard of living by removing the mortgage payment they are making and allowing them to access the equity in their home to be used for any purpose.

Reverse Mortgages are becoming more popular. The FHA's reverse mortgage is a federally-insured private loan, and it's a safe plan that can give seniors greater financial security. Many seniors use it to supplement social security, or to meet unexpected medical expenses, make necessary home improvements, and more. Since your home is probably your largest single investment, it's smart to know more about reverse mortgages, and decide if one is right for you!

Borrower Requirements:

Must be age 62 years of age or older
Must own your property
Live in your property as primary residence
Participation in a consumer information session given by a HUD-approved housing counseling agency.

Mortgage Amount Based On:

Age of the youngest borrower if more than one
Current interest rate
Lesser of appraised value or the FHA insurance limit

Financial Requirements:

No income or credit qualifications are required of the borrower
No repayment as long as the property is the primary residence
Closing costs may be financed in the mortgage

What types of property qualifies for Reverse Mortgages? Nearly all types of property qualify, from single family dwellings, two-to-four unit properties that you own and occupy, townhouses, detached homes, to units in condominiums and some manufactured homes are eligible. Condominiums must be FHA-approved.

Can the lender take my home away if I outlive the loan? Simply stated, the answer is no as long as you continue to occupy the property as your primary residence, keep the taxes and insurance current and perform the other obligations of the mortgage.

What are My Payment Plan Options?

Tenure - equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.
Term - equal monthly payments for a fixed period of months selected.
Line of Credit - unscheduled payments or in installments, at times and amounts of borrower's choosing until the line of credit is exhausted.
Modified Tenure - combination of line of credit with monthly payments for as long as the borrower remains in the home.
Modified Term - combination of line of credit with monthly payments for a fixed period of months selected by the borrower.

How Does the Interest Work on a Reverse Mortgage?

With a reverse mortgage, you are charged interest on the money that you receive. Most reverse mortgages charge a variable interest rate that is tied to an index, for example, the 1-Yr. Treasury Bill or the London Interbank Offered Rate (LIBOR), plus a margin.

Will I Lose My Government Assistance If I Get a Reverse Mortgage?

A reverse mortgage does not affect regular Social Security or Medicare benefits. If you are on Medicaid however, any reverse mortgage proceeds that you receive must be used the month they are received. Funds that you retain would count as an asset and could impact Medicaid eligibility. To be safe, you should contact the local Area Agency on Aging or a Medicaid expert.

When Do I Pay Back My Loan?

The loan is paid back when you choose to not occupy the home as your principal residence, whether you (or in the case of couples, the last remaining spouse) pass away, sell the home, or permanently move out. The amount you owe can never exceed the value of your home. If your home is sold and the sales proceeds exceed the amount owed on the reverse mortgage, the excess money goes to you or your estate.

Still unsure about what to do? Contact an independent counselor that can answer all your questions over the phone and without any "high pressure" sales tactics.

Under What Circumstances Should I Not Consider a Reverse Mortgage?

Because of the upfront costs associated with a reverse mortgage, if you intend to leave your home within 2-3 years, there may be other less expensive options to consider, such as home equity loans, no-interest loans or grants that may be offered by your county government or a local non-profit to repair your home, or a tax deferral program, if you're having problems paying your property taxes. Also, if you want to leave your home to your children, then you should consider other options, because in many cases, the home is sold to pay back a reverse mortgage.

Call Joe Bartolotta with any Reverse Mortgage questions you have for properties located in the state of Florida.

Joe Bartolotta is Florida's Upfront Mortgage Broker working at Fidelity Mortgage Services located in Altamonte Springs Florida. He can be contacted by visiting www.joebartolotta.com or by calling 407.340.0220 or toll free at 1.800.828.7357

Calculating the APR on your mortgage

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Wed, 22 Aug 2007 00:10:56 -0500

Calculating the APR on your mortgage...APR stands for Annual Percentage Rate

I read George Tallabas' blog on Home Mortgages >> What You Are Rarely Told (click here) and felt compelled to go deeper into a portion of his blog that spoke about the APR and your mortgage. Thanks George for giving me the inspiration and the idea to write this blog today.

The APR is one of the most misunderstood numbers people notice on their loan paperwork. There has to be a way that consumers can compare lenders on any loan, but mortgages in particular for this post, and in a way that the public can understand the total cost of credit. The APR is defined as the cost of credit to the borrower in relation to the amount borrowed expressed as a yearly rate. This is required by the federal Truth in Lending Act, Regulation Z.

When you apply for a mortgage the Federal Truth in Lending Disclosure form must be sent. Near the top of the page you will see 4 boxes that contain numbers. Generally, in the first box you will see Annual Percentage Rate (APR). The Annual Percentage Rate will always be higher than your note rate because the APR includes other items associated with obtaining the mortgage loan.

Origination fees, points, mortgage insurance premiums, inspections, prepaid interest and other items may also be required to obtain a mortgage. If so, these things need to be included when calculating the APR. Why is the APR useful? Below is an example:

Bank A offers a 30 year fixed mortgage for 7.00%. Bank B offers a 30 year fixed mortgage for 6.5%. Easy decision, seems like a no brainer, right? Maybe, maybe not. Before lenders and mortgage brokers were required to state the APR it was hard to know if you were really getting the best deal. Bank B has the lower rate but did not mention a few other fees. There was a 2-point origination fee and a 1-point discount fee. Bank A had no origination and no discount fee.

On a $200,000 loan, Bank B charged an additional $5,000 when compared to Bank A's fixed rate loan. You could save an additional sixty-six bucks per month with Bank B's mortgage but you had to pay $5,000 for the privilege. The $5,000 must be included as a cost to obtain the mortgage and is reflected in the APR.

I could give many more examples but what I want to inform you about is that the higher the loan amount, the less impact additional fees or points will have on the APR. Why, you ask? If you obtain a mortgage with $3,000 of closing costs and you borrow $20,000, then the $3,000 will be 15% of the loan amount. This dramatically increases the cost of credit.

The fees used to calculate the APR:

1:Origination fees
2:Points
3:Buy-down funds from the buyer
4:Prepaid mortgage interest
5:Mortgage insurance premiums
6:Other lender fees (application, underwriting, tax service, etc) 7:Title company's closing fee

The fees not included in the calculation of the APR:

1:Title insurance 2:Appraisal 3:Credit report 4:Hazard Insurance 5:Property Taxes 6:Survey

The main reason the above fees are not being included in the calculation of the APR is because they are not coming from the lender. Many states now have additional laws that require the lenders and brokers to state the APR in their advertisements beyond the requirements of the Federal Regulation. When you're comparing APR's, ask your lender which fees are included in the calculation of their APR. APR's are a way of helping you determine the best loan based upon the total cost.

The bottom line is the APR is your best way to compare mortgages.

Respectfully,
Joe Bartolotta
Upfront Mortgage Broker
Fidelity Mortgage Services
www.joebartolotta.com
Direct 407.340.0220

HUD Tips on Avoiding Foreclosure

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Mon, 20 Aug 2007 23:12:22 -0500

Joe Bartolotta Mortgage Consultant Fidelity Mortgage Services

http://www.joebartolotta.com/ Direct 407.340.0220

Florida's Upfront Mortgage Broker

The Internet is full of people claiming to offer assistance to people in order to avoid foreclosure, but is what they are saying actually beneficial to the people that need it the most? In most cases, I'd like to believe that their intentions are admirable but they're supplying misinformation. Then there are others who are deliberately trying to scam these people into believing they can help them. I wanted to assist people with valid and pertinent tips about avoiding foreclosure. I decided to visit the FHA website and came across the information below, who else would have reliable information but them?

The tips below were taking from a release dated July 11, 2007; the article is HUD No. 07-105. I hope this information is helpful in these very trying times.

For more information please visit http://www.hud.gov/news/index.cfm

If I, Joe Bartolotta an Upfront Mortgage Broker with Fidelity Mortgage Services, can offer any additional assistance with your current mortgage situation, please send me an email or give me a call. I'd welcome the opportunity to assist you. Please visit http://www.joebartolotta.com/ for more information on Conventional, FHA & VA, Reverse and Commercial mortgages.

HUD RELEASES TIPS FOR AVOIDING FORECLOSURE
Information aimed at helping more homeowners stay in their home

"These guidelines will assist homeowners who are struggling to pay their mortgage and could be threatened with foreclosure," said HUD Secretary Alphonso Jackson. "We want to encourage homeowners to take action and use every resource available so that they can get control of their finances and stay in their home."

1. Don't ignore the problem.

The further behind you become, the harder it will be to reinstate your loan and the more likely that you will lose your house.

2. Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

3. Open and respond to all mail from your lender.

The first notices you receive will offer good information about foreclosure prevention options that can help you weather financial problems. Later mail may include important notice of pending legal action. Your failure to open the mail will not be an excuse in foreclosure court.

4. Know your mortgage rights.

Find your loan documents and read them so you know what your lender may do if you can't make your payments. Learn about the foreclosure laws and time-frames in your state (as every state is different) by contacting the State Government Housing Office.

5. Understand foreclosure prevention options.

Valuable information about foreclosure prevention (also called loss mitigation) options can be found on the Internet at http://www.fha.gov/.

6. Contact a non-profit housing counselor.

The U.S. Department of Housing and Urban Development funds free or very low cost housing counseling nationwide. Housing counselors can help you understand the law and your options, organize your finances and represent you in negotiations with your lender if you need this assistance.

7. Prioritize your spending.

After health-care, keeping your house should be your first priority. Review your finances and see where you can cut spending in order to make your mortgage payment. Look for optional expenses-cable TV, memberships, entertainment-that you can eliminate. Delay payments on credit cards and other "unsecured" debt until you have paid your mortgage.

8. Use your assets.

Do you have assets-a second car, jewelry, a whole life insurance policy-that you can sell for cash to help reinstate your loan? Can anyone in your household get an extra job to bring in additional income? Even if these efforts don't significantly increase your available cash or your income, they demonstrate to your lender that you are willing to make sacrifices to keep your home.

9. Avoid foreclosure prevention companies.

Many for-profit companies will contact you promising to negotiate a loan work out with your lender. While these may be legitimate businesses, they will charge you a hefty fee (often two or three month's mortgage payment) for information and services your lender or a HUD approved housing counselor will provide for free if you contact them. You don't need to pay fees for foreclosure prevention help-use that money to pay the mortgage instead.

10. Don't lose your house to foreclosure recovery scams!

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a HUD approved housing counselor or trusted real estate professional.

Lake Mary, Florida News and Events

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Sun, 19 Aug 2007 22:40:29 -0500

The information below is brought to you by Joe Bartolotta, an Upfront Mortgage Broker with Fidelity Mortgage Services in Altamonte Springs, Fl. If you are in need of financing a home anywhere in Florida, call Joe Bartolotta. He can be reached at 407.340.0220, or by visiting http://www.joebartolotta.com/ or by email at joe@joebartolotta.com.

LAKE MARY WAS RANKED #1 IN FLORIDA AND #4 IN U.S. AS BEST PLACE TO LIVE. The City of Lake Mary takes pride in its strong sense of community and its commitment to high standards of quality living. That's part of the reason Lake Mary is one of the fastest growing areas in Central Florida! Lake Mary is located near Interstate 4, along the fast growing high tech business center near Heathrow. The City offers well planned residential communities, excellent schools, prominent businesses, and a variety of shopping. It's a friendly place to live and work and few places are more attractive. The crime rate is one of the lowest in Florida thanks to our pro-active, community based police department. Lake Mary's fire department is skilled in rapid response and emergency rescue. Lake Mary's parks and recreation facilities are beautifully maintained. Lake Mary has all the conveniences of Orlando without the traffic!

CENTRAL PARK MOVIE NIGHT The city of Lake Mary co-sponsors a movie in the park night the 2nd Thursday of each month at dusk on the City Hall grounds. (Weather Permitting)
Next Movie: September 13th Firehouse Dog

FRANK EVANS - QUILTING EXHIBIT Saturday, August 11th and 25th, 10AM to 1PM
Thursdays, August 9th, 16th, 23rd & 30th, 6:30PM to 8:30PM
Additional times can be scheduled for large groups!
download PDF...

BE A TRAILBLAZER! Help create a new playground & park for Lake Mary kids! More Information

FRANK EVANS - GHOST WALK Saturday, October 13th & Saturday, October 20th Beginning at 6:30PM download PDF...

FRANK EVANS - CANDLELIGHT TALES Friday, October 12th, Friday, October 19th 6:30pm download PDF...

NEW RESIDENTS Important phone numbers and links... Should you need a phone number that is not on this list, feel free to contact us by phone at 407-585-1400 or email.
More Information

For more information on any of the above links, please visit www.lakemaryfl.com

Seminole County, Florida August Events Calendar

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Sun, 19 Aug 2007 21:20:12 -0500

Seminole County's August 2007 Events Calendar

The information below is brought to you by Joe Bartolotta, central Florida's Upfront Mortgage Broker. Joe Bartolotta is a charter member of the Upfront Mortgage Broker Association and currently works for Fidelity Mortgage Services in Altamonte Springs. If you find yourself in need of financing a home anywhere in Florida, give Joe Bartolotta a call or send him an email. You can reach Joe Bartolotta directly at 407.340.0220 or email joe@joebartolotta.com, or visit his website www.joebartolotta.com for more information

Calendar of Events

August 21-October 26 Casselberry City Hall Public Art Series
Wild About Animals - Celebrating the Wild Kingdom with the Central Florida Zoo. Free. 8:00 am- 5:00 pm. Reception: August 21, 6:00-8:00 pm. 95 Triplett Lake Dr. 407.262.7720

Saturday, August 25, 7:00 pm The Center for Contemporary Dance
Rejuvenation - Works by U-Turn Dance's three professional contemporary dance companies, Rejuvenation is made accessible to blind and deaf persons. At the Helen Stairs Theatre, Sanford. Tickets: $22. 407.695.8366; MovetheLife.com

Saturday, Aug 25, 2007
Celery City Cruisers - A Monthly Cruise-in at the Riverwalk. No entry fee plus plenty of door prizes to be given awat and a 50-50 cash prize. Trophies for muffler rapping, flame throwing, and more. 5-9pm on Seminole Blvd.

Thursday, Aug 30, 2007
Lake Mary Senior Resource Fair
Where: Lake Mary Senior Center 9 am - 12 pm
Cost: free
Check out flier on lakemaryfl.com. Scroll to center of page under News & Events and click on Lake Mary Senior Resource Fair. Exhibitors include: Elder Law information, financial advisors, Veteran's services, alzheimer's resources, home health providers, and more. Breakfast and lunch provided.

Below is a list of galleries, attractions, museums, historical places of interest, parks, zoos, sporting activities all located within Seminole County.

Artistic Hand 353 N. Central Ave Oviedo, FL 32765 Phone: (407) 366-7882

Casselberry Art House 125 Quail Pond Circle Casselberry, FL 32707 Phone: (407) 262-7774

Gallery on First 211 East First Street Sanford, FL 32771 Phone: (407) 323-2774

Working artist studios Jeanine Taylor Folk Art 211 East First Street Sanford, FL 32771 Phone: (407) 323-2774

Art from the Deep South Riverhouse Pottery 118 Palmetto Avenue Sanford, FL 32881 Phone:(407) 323-9272

Steinway Galleries 303 E. Altamonte Drive Altamonte Springs, FL 32701 Phone: (407) 339-3771

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Here are some of Seminole County's best attractions.

AIRBOAT TOURS Bill's Airboat Adventures St. Johns River, East of Sanford Phone: (407) 977-3214 Visit Web Site Guided nature tours leaving from points east of Orlando/Sanford on the St. Johns River; daily by appointment. Personal attention from an experienced guide, a U.S. Coast Guard licensed Master Captain.

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Black Hammock Adventures - Airboat Tours 2536 Black Hammock Fish Camp Rd Oviedo, FL 32765 Phone: (407) 977-8235 Visit Web Site Experience the thrill of an airboat ride on beautiful Lake Jesup in Oviedo, Florida. Situated in a beautiful rural setting on Lake Jesup. Ten thousand acres large and over 100,000 years old, Lake Jesup flows directly into the St. Johns River. It is home to some of Florida's most unique wildlife. See beautiful foliage, alligators, eagles, osprey, and many types of wildlife in their natural habitat. Lake Jesup is anthropologically rich and has been researched by at least 3 major universities. Don't forget your camera, Lake Jesup has the highest population of alligators of any lake in Florida. It is sure to be a thrilling ride. Call for detailed directions.

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Captain John Kumiski's Spotted Tail Guided Outdoor Adventures 284 Clearview Rd Chuluota, FL 32766 Phone: (407) 977-5207 Visit Web Site Custom kayaking, wildlife watching and fishing trips.

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Central Florida Airboat Tours 4650 East State Road 46 at the Geneva Bridge Sanford, FL Phone: (407) 321-0753 Visit Web Site An exciting new adventure awaits you at Central Florida Airboat Tours. Located one hour from Orlando attractions, operating out of Jolly Gator Fish Camp, you can board an airboat and travel into the heart and soul of Lake Jesup and Lake Harney.

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AMUSEMENT PARKS

Fun World 4311 Orlando Ave. Sanford, FL 32773 Phone: (407) 330-1792 Visit Web Site Fun World is a family amusement park featuring go-karts, bumper boats, bumper cars, miniature golf, 15 adult rides and 8 kiddie rides, a 250 game arcade, a birthday party restaurant and more.

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HISTORICAL INTERESTS

Bradlee-McIntyre House 130 W. Warren Ave. Longwood, FL 32750 Phone: (407) 332-0225 The Bradlee-McIntyre House was built about 1885 and is the only surviving "cottage" in Orange and Seminole counties. It is typical of the flamboyant houses of the Victorian Period.

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Helen Stairs Theatre for the Performing Arts 201 S. Magnolia Ave. Sanford, FL 32771 Phone: (407) 321-8111 Visit Web Site This beautifully restored historic Vaudeville Theatre hosts a wide range of performances: plays, musicals, ballets, operas, recitals, pageants, and lectures.

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Museum of Seminole County History 300 Bush Boulevard Sanford, FL 32773 Phone: (407) 321-2489 Visit Web Site Located just four miles south of Sanford across from Flea World on Highway 17/92, this intimate museum offers a glimpse at Seminole County's agricultural history as well as life of days gone by showcasing a vast collection of period antiques, historical photographs and exhibits of early Florida agriculture and transportation. Hours: 9am - 5pm, Monday through Friday, and 9am - 4pm on Saturdays.

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Sanford Museum 520 E. First Street Sanford, FL 32771 Phone: (407) 302-1000 In 1870 General Henry Shelton Sanford, former Minister to Belgium, purchased 12,535 acres of land and laid out his namesake community. General Sanford arranged for a colony of Swedes to settle the area, work an orange grove and experiment with fruits and flowers from all over the world. The first county fair was held in 1881 on land donated by General Sanford. The Sanford Museum allows one to step back in time and visit the family of General Sanford as well as get a glimpse of life in Seminole County in the late 1800s. Donations are accepted. Special exhibits on local sports history.

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Student Museum 301 W. Seventh St Sanford, FL 32771 Phone: (407) 320-0520 Visit Web Site Seminole County School Museum is the fourth oldest school in continuous use in Florida, and the first high school in what was then Orange County. The Student Museum and Center for Social Studies is an interpretative center and teaching museum. The Museum is open to the public weekdays from 1:30-4:00 pm.

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NATURE ACTIVITIES Big Tree Park 761 General Hutchinson Parkway Longwood, FL 32750 Phone: (407) 788-0405 Visit Web Site You will see natural vegetation and marsh lands as you make your way on the boardwalk to "The Senator", the park's main attraction a 3,500 year old Bald Cypress. This is recognized as Florida's "Big Tree". Facilities include a boardwalk, picnic tables, and restrooms.

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Central Florida Zoological Park 3755 NW U.S. Hwy 17-92 Sanford, FL 32771 Phone: (407) 323-4450 Visit Web Site Connect with nature in just a few hours. Stroll along winding pathways to encounter 100's of mammals, reptiles and birds close-up. Weekend animal programs. A favorite for kids of all ages.

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Little Big Econ State Forest 1350 Snow Hill Rd Geneva, FL 32732 Phone: (407) 971-3500 Visit Web Site Little Big Econ State Forest has an abundance of recreation opportunities including canoeing, fishing, and trails for hiking, biking and horseback riding.

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Rock Springs Riding Stables Springs Run State Reserve P.O. Box 1544 Sorrento, FL 32776 Phone: (352) 735-6266 Visit Web Site Guided horseback tours on scenic trails filled with Florida wildlife.

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Wekiwa Springs State Park 1800 Wekiwa Circle Apopka, FL 32712 Phone: (407) 884-2008 Visit Web Site With almost 6,900 acres of wild scenery, Wekiwa Springs State Park offers an opportunity to see how central Florida looked when the Timicuan Indians speared fish in the spring-fed creeks and stalked deer in the uplands. Canoe rentals are available and a concession provides refreshments. The picnic area, playground and family camping area provide electric and water hook-ups, restroom and dump station. A primitive camping area is available for youth groups. Group camp with cabins, meeting hall and dining facility can be used by groups engaged in conservation of environmental activities. For the more adventurous, two backpacking campsites are located along 13 miles of hiking trail.

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ON THE WATER Captain Dana's Fishing & Scenic Tours 2360 Clay Ct. Longwood, FL 32779 Phone: (407) 645-5462 Visit Web Site Enjoy bass or flats fishing on central Florida's pristine lakes, rivers, bays and lagoons. Relax on a scenic tour of Florida's wetlands and forests.

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Fun Maritime Academy 531 N. Palmetto Avenue 'A' Dock Sanford, FL 32771 Phone: (407) 330-0633 or 1-866-320-SAIL Fax: (407) 330-0788 Visit Web Site Come discover the Joy of Sailing. Fun Maritime Academy uses the highest quality boats. Instructors are certified by the American Sailing Association and US Sailing. All study materials are included and ASA certification is awarded upon successful completion of most courses.

Fun Maritime also offers boat rentals! Rent a runabout or pontoon boat for a lazy trip up the river or to see the sights on the lake.

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Mosquito Coast Fishing Charters 540 Lake Lenelle Drive Chuluota, FL 32766 Phone: (407) 366-8085 or (407) 416-1187 or (866) 790-8081 Visit Web Site Quality guided fishing trips and outdoors adventures. Captain Tom provides a wide range of camping and light tackle saltwater and freshwater fishing charters.

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Rivership Romance 433 North Palmetto Avenue Sanford, FL 32771 Phone: (407) 321-5091 Price Range: $$$$ ($30+ average per person) Visit Web Site Relax and dine while cruising the historic St. Johns River. Entertainment, menu selection, unsurpassable hospitality. Climate controlled. Reservations required.

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St. Johns River Cruises 2100 W. French Ave. (Blue Springs State Park) Orange City, FL 32763-9510 Phone: (407) 330-1612 Visit Web Site Experience Florida's natural destination on the St. Johns River at Blue Springs State Park. Two-hour interactive narration by captain aboard the custom-built 49-passenger pontoon boat Native II. Two tours daily at 10 a.m. and 1 p.m. 365 days weather permitting. All captains and boats licensed by the U.S. Coast Guard. Will allow well behaved pets at staff's discretion.

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Wekiva Marina 1014 Miami Springs Dr Longwood, FL 32779 Phone: (407) 862-1500 Wonderful, nature-filled canoeing and fishing. Experience the true state of Florida.

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Wekiva Springs State Park Nature Adventures 1800 Wekiva Circle Apopka, FL 32712 Phone: (407) 884-4311 Visit Web Site Canoe the beautiful Wekiwa River. Designated "Scenic & Wild" as well as a State Canoe Trail. Guided trips and canoes also provided.

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SPORTS ATTRACTIONS Aiguille Rock Climbing Center 999 Charles Street Longwood, FL 32750 Phone: (407) 332-1430 Fax: (407) 332-1808 Visit Web Site Aiguille Rock Climbing Center is the place for climbers of all ages and abilities. We teach first time climbers the basics and help more experienced climbers push their limits. Climbing at Aiguille is fun, a great workout, and a great place to be with friends. our air conditioned facility is 6500 square feet of climbing and over 1000 square feet of bouldering, one of the largest on the East Coast.

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Congo River Golf & Exploration Co. 531 W. State Road 436 Altamonte Springs, FL 32714 (407) 682-4077 Visit Web Site 18 hole miniature golf course amidst a beautiful tropical environment with caves and cascading waterfalls. Fun for kids of all ages.

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Lil 500 Go-Karts 150 Atlantic Dr Maitland, FL Phone: (407) 831-2045 An amusement park featuring 3 Go-Kart tracks and party areas to accommodate all ages. Open 7 days a week. Fun for kids of all ages.

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Orlando Jai-Alai & Race Book 6405 South U.S. 17-92 Fern Park, FL 32730 Phone: (407) 339-6221 Visit Web Site Open daily year round. Central Florida's premier simulcast facility to watch and wager on all the best thoroughbred and harness tracks in the country as well as simulcast jai-alai from Dania, Miami and seasonal live jai-alai.

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Sanford-Orlando Kennel Club 301 Dog Track Road Longwood, FL 32750 Phone: (407) 831-1600 Year 'round championship greyhound racing.

Items Needed For Buying Your First Home In Florida

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Fri, 17 Aug 2007 23:29:30 -0500

The steps to buying your first home in Florida

So, you want to buy your first home. The question is, where do you start? With the right people to guide you, the process can be enjoyable!

Below, I will break down the steps so that you know what to expect.

1. Consult with a Loan Officer- Find a Loan Officer that you would like to work with by visiting www.upfrontmortgagebrokers.org or www.joebartolotta.com. Below is a list of items you will need to obtain the financing for most loan programs, especially in our current market. It would be best to gather them now, before the meeting with your Loan Officer.

W-2's for the past 2 years for everyone on the mortgage.
If you are self employed, you may need signed tax returns for the past 2 years.
Paycheck stubs for the past 30 days
2 Months of Bank Statements for ALL accounts
Copies of cancelled Rent checks for the last 12 months
Make a list of all of your debts with account numbers, minimum payment & current balance owed
Most Loan Officers will charge upfront for the appraisal. The appraisal is the valuation of the home in the current market. The estimated cost are between $300 and $400
Copy of your drivers license or passport
Copy of your social security card

After obtaining the above documents, you will then meet with the Loan Officer and sign the mortgage application. The mortgage application is then submitted with the above documents to an underwriter. An underwriter may require additional documentation or clarification on certain items, these are commonly referred to as "stips", short for stipulations. Once the underwriter has signed off on all stips, the loan is then sent to the closing department. The closing department creates a package and the package is then sent to the title company. The title company creates the closing paperwork but before the final paperwork can be signed, the loan officer must review the Settlement Statement. The Settlement Statement contains the final breakdown of all fees associated with the purchase. A good loan officer will review each and every line to insure that the fees are within estimates (for fees they estimated on the GFE) and are being charged to the correct person.

2. Consult with a Realtor-The initial meeting should go over your desired price range, the needs and wants of your home and possibly viewing a few homes via the MLS. I would like to expand on one area of this meeting, the part of needs and wants.

Determine your needs and wants- Looking at houses on the Internet is such a time saver! However, you may find that once you get inside the home you feel quite different about it. Working with an experienced professional Realtor has many benefits, one is that they often will be able to learn floor-plans of many houses and be able to show you listings that differ in their floor plans.

3. House Hunting- For most people this is the most enjoyable portion. You begin to imagine which rooms will work for what purpose, like a nursery and a home office or a media room.

4. Write an Offer-Make sure to take plenty of time going over the entire contract and all addendums. It is important to understand what you are agreeing to. You will need anywhere from $500 to 1% of the negotiated price for earnest money. The earnest money is accounted for an applied to your closing costs and/or down payment.

Negotiations-There are many points to negotiate. Not just the price. Here are a few examples:

Earnest Money...the actual amount
Closing Date...when is it best for you
Closing Costs contributions....the seller of a house is allowed to pay a portion of your closing costs
Home Warranty...historically a wise policy to obtain, it gives you piece of mind over the major systems in the house
Misc items like a Refrigerator, Washer, Dryer, and Window Coverings

When the contract has been agreed upon by all parties, it is then signed and considered executed.

5. Inspections-I highly recommend that you attend the inspection, actually, I do not know of any professional Inspector that would do an inspection without the future home-owner being present. A licensed professional inspector will go through the house inside and out, exposing the flaws and highlighting any extra features. The Inspector will write a report that will note any repairs that need to be done. These repairs could make or break a transaction. You may also be able to negotiate the need for these repairs to be completed before the closing takes place or a reduced sales price in order to cover these repairs.

6. Appraisal-The appraisal is ordered by the lender, the appraisal is the value of the home as determined by recent comparable sales within a given time frame and a given distance relative to the home you are purchasing. The appraisal is typically ordered immediately after a satisfactory inspection report. No sense is paying for an appraisal on a home that needs too many repairs.

7. Survey-A survey is required on all purchases, the survey will show all easements, building lines, and all other pertinent information that pertains to the property. The survey is typically ordered by the title company.

8. Home Owners Insurance-It is the your responsibility to obtain proper home owners insurance. Usually, you will want to obtain quotes from numerous companies. Your loan officer and Realtor may be able to assist you with reputable companies they have worked with in the past.

9. Formal loan approval- The formal approval will come after all loan application conditions have been satisfied, in addition to a satisfactory appraisal, proper home insurance coverage and clear title.

10. Final Walk-Thru-Once the home is empty you will be able to see any of the imperfections that were once covered by furniture and other items. Your Realtor will be with you to answer any questions if something has happened for example while the owners were moving their belongings out or if something has been uncovered that wasn't noticeable before.

11. Closing-After you sign all of your mortgage documents, it is time to celebrate being a homeowner.

Congratulations!

Choosing the right people to assist you makes this process much smoother and much more enjoyable. If you are looking for a home in Florida, please contact me, I look forward to hearing from you.

Respectfully,
Joe Bartolotta
Mortgage Consultant
Fidelity Mortgage Services
http://www.joebartolotta.com/
Direct 407.340.0220
Office 407.786.9500
Fax 407.786.9501
Ask me about my Lender Fee Guarantee
*Every situation is different and yours may or may not be exactly as above, this blog post was intended to supply general information only.

Who will come to the rescue for Alt A & sub-prime borrowers?

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Fri, 17 Aug 2007 14:39:03 -0500

This past Wednesday, Freddie Mac said they will loosen their restrictions on Alt A loans to help calm the mortgage market. At least someone is trying to do something.

Here is a quote from Charles Coulter, vice president in Freddie Mac's single-family mortgage operations....."We felt it was important for us to make a statement saying we are active in this marketplace," Coulter said. It is also "a good opportunity" to "add value" to lenders' loans.

For anyone who doesn't know, Alt-A loans have credit scores above sub-prime, but include characteristics that have become common among loans gone bad. Some of these similarities are no proof of income or loans to borrowers with no down payment. The market for Alt-A loans has deteriorated in recent days as investors shy away from any security that is not guaranteed by Freddie Mac, Fannie Mae or Ginnie Mae.

Some people say that the sub-prime borrower deserves what they get but I am not part of that crowd. Some people were put into sub-prime loans by brokers who were looking out for their best interest and not the interest of the client. Some good people just made bad mistakes and they do not deserve to have their biggest asset become unaffordable. Sure, everyone should read what they are signing but perhaps we, the mortgage industry, could have a disclosure that made it easier to understand and that was on one piece of paper, not 23 and written so only a lawyer can decipher it. I feel that this current market will eliminate most of the "riff raff" in both the mortgage and Realtor industries. This should help align professional Realtors and mortgage individuals together again.

One mortgage association that puts the clients interest first is the Upfront Mortgage Brokers Association. The following is taken directly from the Upfront Mortgage Brokers website....

The Upfront Mortgage Brokers Association (UMBA) was founded for consumer advocacy.

Most professional associations are formed to further the interests of the individuals forming the organization.

Members of UMBA believe that the interests of the public must come first over the interests of the individuals making up the association.

Association members believe that, in serving the public interest, they will be working toward a better profession, which, ultimately, will further their professional/personal goals.
Upfront Mortgage Brokers®

If you are interested in hearing from from a registered Upfront Mortgage Broker, contact me.

Respectfully,
Joe Bartolotta
Mortgage Consultant
Fidelity Mortgage Services
http://www.joebartolotta.com/
Direct 407.340.0220
Office 407.786.9500
Fax 407.786.9501
Ask me about my Lender Fee Guarantee

Attention LO's, is your host or server stealing your leads from your website?

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Thu, 16 Aug 2007 23:57:54 -0500

I went to a very interesting seminar today that made it known that my own server provider could be ripping me off of my own leads. I will be reviewing my contract to see if they have the ability to do this, and the worst part is, it is perfectly legal.

Here is the problem, say you are a LO with your own website and you are obtaining information from leads from your website. Your server provider could be delaying sending you the information that you worked so hard to obtain as they may try and sell it first before giving it to you. At the seminar today, the speaker said that he has negotiated with his server provider that his leads are his and his alone. He has tested the server provider weekly and he states that when he enters information, he gets a text message within seconds and an email within minutes.

If you have spent thousands dollars getting your website set up to draw potential clients to you, don't you deserve to reap the benefits and not some other company who basically has done nothing but act as a leech? I suggest that you read your contract and test your system if you are in this situation. If you are not receiving your texts or emails within minutes of entering your information in your own website, you are losing leads.

If your website is not set up to gather lead information, you are throwing money away. Your website is up 24/7. You can be sure I will be revising mine to gather lead information soon. I could use every lead I get, couldn't you?

Speech tips

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Wed, 15 Aug 2007 23:01:45 -0500

Before my life as a loan officer, I was fairly introverted and didn't include myself in most conversations that took place in public settings. Being a loan officer forced me to alter who I was or at least change some characteristics of myself. I joined a club that helps with giving speeches, perhaps you have heard of them, they're called Toastmasters.

Here are some tips that have helped me and they may help you as well:

Practice giving your speech within a defined time period
Arrive early to your destination, this will help calm your nerves
Practice your speech out-loud
Speak at a level that is appropiate for the room you are in
Conceal your notes so they are not immediately in front of you, this way you cannot draw attention to them
Do your best to not say "ah" or "umm" while giving your speech
Do your best to remove any physical quirks you may have, ie tapping your finger on the table, spinning your pen

Joining Toastmasters has helped me in other ways as well. I am much more confident with myself. I appear to have undergone an "extreme makeover", at least according to some of the people who knew me years ago. I owe most of this praise to Toastmasters. If you find yourself stumbling in public speaking engagements or with clients, take some time to see if there are any Toastmaster Clubs in your area. The dues are inexpensive and you will enlarge your sphere of influence while gaining some confidence that will help you in many other areas.

The following (in bold) was taken directly from the Toastmasters website...and I couldn't agree more

Toastmasters offers a proven way to improve your communication skills. By participating in a fun and supportive Toastmasters group, you'll become a better speaker and leader and gain confidence to succeed in whatever path you've chosen in life.

Deliver great presentations
Easily lead teams and conduct meetings
Give and receive constructive evaluations
Be a better listener

My take on the current mortgage market

Joe Bartolotta Florida's Upfront Mortgage Broker (Fidelity Mortgage Services) — Fri, 10 Aug 2007 21:16:31 -0500

Mortgage Market Blog

Welcome to my take on the current mortgage market. Let me begin by saying I will write 2 versions, the first will be more for the mortgage/real estate professional and the second version will be the deciphering of it, basically, it will spell it out in everyday terms.

Aug10th,_2007 Mortgage/Real Estate professional version: The credit market generally, and the U.S. mortgage market in particular, continue to experience significant volatility. I anticipate the investment appetite of investors in mortgage assets to remain in a state of flux for the immediate near term as bond holders, portfolio managers and others adjust to the higher level of delinquencies and losses that have primarily affected the sub-prime sector, but are having ripple effects in other market sectors as well.

In everyday words version: Wall Street investors are unwilling to take the risk associated with sub-prime loans and are now growing weary of many non traditional loans. This "growing fear" is working its way towards all loan programs, not just sub-prime. As with all "down times" in every business, this will pass, the question is when? Unfortunately, my prediction isn't until summer of 2008 and I will tell you why. The mortgage industry was "giving away" the 2 year fixed mortgage up until the summer of 2006 which means that we will need to wait until the summer of 2008 when the last of those mortgages will adjust. Once those mortgages adjust and the owners either refinance or sell those properties, the market can go back to a more traditional environment.