Kay's Blog | Georgia Mortgages, Relocating to Atlanta Georgia and More

9 Simple Ways to Save for a Mortgage Down Payment

Kay, GA Mortgage Officer & VA Specialist — Sat, 11 Oct 2008 08:19:42 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

Most mortgages today require a 3% to 5% down payment. Even if you qualify for a no-down payment mortgage, saving before you buy a home is a smart financial strategy.

Having a healthy savings account demonstrates financial maturity, and makes it easier for your mortgage to be approved. In addition, there are unforeseen costs associated with owning a home. Having a savings account cushions your transition from renter to home owner.

Accumulating savings doesn't have to be a difficult process. It is possible to make the easy, small changes that lead to big savings. Here are a few ideas.

Curb impulse spending by leaving your credit (and debit) cards at home.
Studies show that those with credit cards are likely to spend 18-25% more. Having to take a trip home to pick up your credit card may just give you the time you need to change your mind.
Bag your lunch.
In an era where even fast food lunches cost $7, eating out can easily add up to $200 per month. Instead of going to lunch with the group every day, try giving yourself a treat once a week instead.
Clip coupons to cut your grocery bill.
Some supermarket chains will double or even triple the face value of coupons. To receive special coupons for your family's most popular grocery items, register on the manufacturer's site. Manufacturers will often send special offers or coupons via email.

Here are some websites you can use to check grocery sales and specials in your local area. (Some of these websites require registration).

MyGroceryDeals
Coupon Mom
Shop Local
Keep the change.
How easy is this one? At the end of each day, put your spare change away and watch it accumulate to real money. What you call "spare change" depends on your income. Some people save anything less than a dollar, while others save anything that is less than 5 dollars.
Put your savings on auto-pilot.
So, now that you are saving all of this money, how do you make sure it stays in a savings account? Set up an automatic withdrawal with a federally insured savings account or aFDIC-insured money market deposit account .
Check out what you can pick up for fr-ee.
The Freecycle Network™ is an online community that is fr-ee and open to the public. Members from your local area will post items they are willing to give away. You can get everything from office supplies to electronic equipment to compost from this website.
Try the envelope method.
With the envelope method, you create an envelope for each spending item (example, gas, food, etc.). Each pay period, you put the money you've allotted for an item in its envelope. Once the envelope is empty, that's it -- no more spending.
Rent a room or become a lodger.
If you decide to become a lodger as a way to save on housing expenses, make sure you have a contract, and that all payments are made with a check. Once you decide to buy a home, your mortgage company will want to see copies of cancelled checks proving your rental payments. If you decide to rent a room in your home, it is critical that you conduct background and credit checks on your boarder and have a contract.
Sell your excess stuff.
If you are like most Americans, you have accumulated a lot of stuff you are not using. Have a neighborhood yard sale. Put items you don't need on eBay or craigslist and deposit what you earn in your savings account.

Follow these simple steps and watch your savings accumulate.

For information about applying for a Georgia mortgage loan, feel free to email (anointedmi AT aol DOT com) or call me (404-298-5500).

Posted by Kay, Georgia Mortgage Consultant and VA Loan Specialist.
404.298.5500
25+ years' banking and finance experience.

Helping residents of Dekalb County, and all of Georgia with their mortgage financing needs since 1998.
Specialties: VA Mortgages, GA Relocation Mortgages.

Not meant to be tax, financial or legal advice. Please consult a professional for information about your specific situation.

Clarkston, Georgia (GA) Business Association Kick-Off - October 16, 2008

Kay, GA Mortgage Officer & VA Specialist — Sat, 11 Oct 2008 08:18:10 -0500

from the Clarkston Health Collaborative e-newsletter

Clarkston Business Association Kick-Off Event!!
Thursday, October 16th 6:30 p.m.

Pho Truc Vietnamese Restaurant
Thrift Town Plaza - Downtown Clarkston
926 Montreal Rd Ste
Clarkston, GA 30021

Busineses and merchants of Clarkston, Georgia are invited to attend the Clarkston Business Association Kick-off event. Please bring your business cards and information to this organizational meeting for Clarkston businesses.

The Clarkston Business Association Kick-Off is co-sponsored by Northlake Veterinary Surgery, Allstate Insurance, andThe Clarkston Health Collaborative

More Clarkston BUSINESS RESOURCE Guides Available.
A new order of Clarkston’s brand new Business Resource Guide are in and available now. To get your copy (or copies), please e-mail your request to csholliday AT dhr DOT state DOT ga DOT us or call the Clarkston Community Center at 404-508-1050.

For information about applying for a mortgage loan in Clarkston or any part of Georgia, feel free to contact me at 404-298-5500.

Posted by Kay, Georgia Mortgage Consultant and VA Loan Specialist.
404.298.5500
25+ years' banking and finance experience.

Helping residents of Clarkston, Dekalb County, and all of Georgia with their mortgage financing needs since 1998.
Specialties: FHA Mortgages, VA Mortgages, GA Relocation Mortgages.

Not meant to be tax, financial or legal advice. Please consult a professional for information about your specific situation.

Celebrate Home School Day - Stone Mountain Park Georgia - October 3, 2008

Kay, GA Mortgage Officer & VA Specialist — Thu, 02 Oct 2008 05:37:51 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

Celebrate the start of Fall by getting your home schoolers out of the house. Join in the fun during Home School Day at Stone Mountain Park in Georgia. According to weather.com, Friday should be a beautiful mild, sunny day, with temperatures in ranging from the 50s to the mid 70s.

Enjoy a day of "edutainment", and use Stone Mountain Park as an outdoor classroom.
Activities include:

The Sky Hike,
Programs on local history,
Live craft demonstrations of life in the 1870's.

For additional information about Home School Day at Stone Mountain Park, visit the site here.

Do you have questions about applying for a Georgia FHA, VA or conventional mortgage? Contact me at 404-298-5500.

Posted by Kay, Georgia Mortgage Consultant and VA Loan Specialist.
404.298.5500
25+ years' banking and finance experience.

Helping residents of Georgia with their mortgage financing needs since 1998. Specialties: VA Mortgages, GA Relocation Mortgages.

Not meant to be tax, financial or legal advice. Please consult a professional for information about your specific situation.

HUD Repo $100 Down Program Ends 09/30/08

Kay, GA Mortgage Officer & VA Specialist — Mon, 15 Sep 2008 08:13:39 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

The HUD $100 Down program significantly reduces the cash you would have to pay out of pocket for your home. This makes it a great program for Georgia first time home buyers, provided you can find the right property.

This program, which has been open since November of 2007, allows you to buy a HUD foreclosure with $100 down (instead of the traditional 3% down). It can only be used for property you plan to occupy - investors are not eligible.

The program ends on September 30, 2008, and I have not received any information about it being renewed.

If you have any questions about this program, feel free to contact me at 404.298.5500.

Posted by Kay, Georgia Mortgage Consultant and VA Loan Specialist.
404.298.5500
25+ years' banking and finance experience.

Helping residents of Georgia with their mortgage financing needs since 1998.
Specialties: FHA Mortgages, VA Mortgages, GA Relocation Mortgages.

Not meant to be tax, financial or legal advice. Please consult a professional for information about your specific situation.

Rockbridge Road (Dekalb County, GA) Corridor Meeting (8/14/08 | 5 pm - 7 pm)

Kay, GA Mortgage Officer & VA Specialist — Wed, 13 Aug 2008 16:22:03 -0500

Community announcement posted by Kay, 404-298-5500, Georgia Mortgage Consultant

The Dekalb County Transportation Division is evaluating improvement options for the Rockbridge Road corridor from Memorial Drive to State Road 124.

Please come by the Public Information Open House to give us your input.

Date: Thursday, August 14, 2008

Time: 5:00 pm - 7:00 pm

Place: Pine Lake Baptist Church
4528 Rockbridge Road
Stone Mountain, GA 30083

For information contact: Jan Price (404) 377-9147

What is your vision for Rockbridge Road?

Posted by Kay, Georgia Mortgage Consultant and VA Loan Specialist.
404.298.5500
25+ years' banking and finance experience.

Helping residents of Lithonia, Dekalb County, and all of Georgia with their mortgage financing needs since 1998.
Specialties: VA Mortgages, GA Relocation Mortgages.

Not meant to be tax, financial or legal advice. Please consult a professional for information about your specific situation.

Was your Apartment Damaged by the March 2008 Georgia Tornadoes? You May Qualify for a Zero Down Loan.

Kay, GA Mortgage Officer & VA Specialist — Sun, 10 Aug 2008 09:39:28 -0500

If your apartment was damaged by the March 2008 tornadoes that hit Atlanta and other parts of Georgia,you may qualify for a zero down mortgage available for first-time homebuyers.

In March 2008, powerful tornadoes struck downtown Atlanta and other parts of Georgia, leaving destruction in their wake. If you were a renter in Bartow, Burke, DeKalb, Floyd, Fulton, Jefferson, or Polk Counties, and your residence was damaged, you may be eligible for a little-known zero down mortgage.

Act now; the window of opportunity will close in early 2009. If you were affected by the tornado and you have questions about this no-money down mortgage, feel free to call me at 404-298-5500.

FAQ - $7,500 Tax Credit for Georgia's First Time Home Buyers*

Kay, GA Mortgage Officer & VA Specialist — Sat, 09 Aug 2008 17:42:33 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

Thousands of Georgia first-time homebuyers may be eligible for a $7,500 tax "credit."

There are important things you should know, in order to determine if you qualify for this "credit." Here are the answers to frequently asked questions.

What is a tax credit?
A tax credit is a credit that reduces your overall tax liability. With a refundable tax credit, you may actually get money back. For an explanation of the differences between tax credits and tax deductions, please click here.

How much is the first-time homebuyer tax "credit"?
With the tax credit, a Georgia first-time home buyer will get a tax credit worth 10% of the purchase price, or $7,500, whichever is less. So, for example, if you bought a home for $70,000, your tax credit would be $7,000.

Are investment properties eligible?
No. This tax credit is for purchase of a primary home only.

I just bought my home a couple of months ago! Is there any sort of grandfather clause?
No, but you may still be in luck. The credit is open to you if you purchased your home between April 9, 2008 and June 30, 2009.

What's with the quotation marks around the word "credit?"
I've put quotations around the word "credit" because you have to pay it back over 15 years. If you received the maximum credit of $7,500, for example, you'd have to pay back $500 a year.

What if I sell my home before I re-pay the credit? It looks as if the balance you owe will be subtracted from your profit from the sale of your home.

Is this first-time home buyer's tax credit only available to Georgians?
No, it is available to anyone in the United States.

Is there anything else I should know?
Absolutely.

The standard definition of a first-time homebuyer is someone who has not owned a primary residence in the past three years.
In order for a couple to take advantage of this credit, both must fit the definition of first-time homebuyer.
Your eligibility for the the credit also depends on your income. The credit starts to phase out at $75,000 for single taxpayers, and $150,000 for married taxpayers.

Read my articles about the new housing bill and its(HR 3221) effect on Georgia home buyers.

Want more up-to-date Georgia mortgage and real estate information?
Click here to get Georgia Mortgage updates emailed to you.

Posted by Kay, Georgia Mortgage Consultant and VA Loan Specialist.
404.298.5500
25+ years' banking and finance experience.

Helping residents of Lithonia, Dekalb County, and all of Georgia with their mortgage financing needs since 1998.
Specialties: VA Mortgages, GA Relocation Mortgages.

*Not meant to be tax, financial or legal advice. Not meant to be an offer or a promise to obtain a mortgage loan. Please consult a professional for information about your specific situation.

Tax Credit vs. Tax Deduction - What the difference?

Kay, GA Mortgage Officer & VA Specialist — Sat, 09 Aug 2008 17:42:03 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

As I explain how the new tax credit provides incentives for Georgia first-time home buyers, I often find myself explaining the differences between a tax credit and a tax deduction.

How is a tax credit different from a tax deduction?
A tax deduction decreases your taxable income, while a tax credit decreases your overall taxes and may lead to you getting money from the IRS.

Here's an example:
Taxable Income: $60,000
Taxes Owed: $1,000

The effects of a $5,000 tax deduction:
Taxable Income: $55,000
Taxes Owed: (computed based on $55,000 taxable income).

The effects of a $5,000 tax credit
Taxable Income: $60,000
Taxed Owed: $0
Money in your pocket: $4,000

Read all articles about ways new housing bill (HR 3221) affects Georgia home buyers.

Want more up-to-date Georgia mortgage information? Click here to get Georgia Mortgage updates emailed to you.

Lithonia Family Fun Day - August 9, 2008

Kay, GA Mortgage Officer & VA Specialist — Sat, 02 Aug 2008 19:23:43 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

Lithonia's Back to School and Family Fun Day
Saturday, August 9, 2008
2:00 pm to 7:00 pm

Lithonia Park
2501 Park Drive
Lithonia, GA 30058

Celebrate the return to school
Bring your family, lawn chairs and picnic baskets.

Activities include clowns, music, spoken word, face painting and inflatables. Swimming at Lithonia Pool (Adults $3, Kids $2) until 6:00 pm

Don't Let Someone Else Make YOUR Decision - Vote in Dekalb County's Primary Runoff Election (August 5, 2008)

Kay, GA Mortgage Officer & VA Specialist — Sat, 02 Aug 2008 18:04:28 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

Traditionally, primary runoffs pull the least amount of voters. Hopefully, the next one in Dekalb County GA will break the rule.

Important positions are up for grabs, including the Dekalb County CEO (Burrell Ellis vs. Stan Watson) and Democratic Candidate for the US Senate (Jim Martin vs. Vernon Jones).

To find out what positions are at stake in your Dekalb County district, visit this voter guide and enter your home address.

I know this is a busy week, especially with the start of school, but don't let someone else make your decision. Please take a few minutes and vote!

New Housing Bill - Relief for Our Nation's Veterans

Kay, GA Mortgage Officer & VA Specialist — Thu, 31 Jul 2008 08:14:06 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

HR 3221, known under many names, includes sections dedicated to helping our nation's veterans preserve homeownership and avoid foreclosure. The President signed the bill into law yesterday, July 30, 2008.

As with most new legislation, it will take a couple of months for us to start to see the effects of these changes. In the meantime, here are some of the provisions of HR 3221 that apply to active duty military and veterans.

Extends Foreclosure Waiting Period
This provision extends the time lenders must have to wait before they can begin foreclosure proceedings on homes owned by someone returning from military service. Under current guidelines, lenders must wait 3 months. The bill extends this period to 9 months. The foreclosure extension provision ends December 10, 2010.

Provides Temporary Mortgage Interest Rate Relief
Lenders must wait one year before raising the interest rates on a loan held by a member of the military returning from service.

Makes Financial Counseling Available
The Department of Defense must establish a counseling program for all members of the military (veterans and active service) who are facing financial difficulty.

Expands Homeownership Opportunities
Increases the Veterans Administration (VA) home loan limit in high-cost housing areas.

Housing benefits for Veterans with Disabilities
Increases benefits provided to veterans with disabilities to adapt their housing. Allows the VA to provide improvements to the homes of veterans who have service-connected disabilities.

Want more up-to-date Georgia VA mortgage information?
Click here to get Georgia VA Mortgage updates emailed to you.

Fact or Fiction: Are all Georgia Foreclosures on Hold?

Kay, GA Mortgage Officer & VA Specialist — Thu, 31 Jul 2008 07:01:01 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

While running errands in Dekalb County Georgia, I heard a couple of interesting rumors. One was that until the new housing bailout bill was passed, all foreclosures in the state of Georgia and throughout the United States were on hold. The other was that the housing bailout bill would put all foreclosures on hold for a certain period of time.

Unfortunately, neither rumor is true. The truth is, that members of the House of Representatives urged mortgage lenders to delay foreclosures until the Hope for Homeowners Act went into effect. The bill was signed in to law by the President on July 30, and the provisions will go into effect on October 1, 2008.

Under the Hope for Homeowners Act, certain provisions of the new law will enable homeowners currently facing foreclosure to refinance into FHA Loans. Since this Act may help people currently facing foreclosure save their homes, members of the House asked lenders to delay foreclosures until it goes into effect.

The press release with the request can be found here..

So, the truth in a nutshell is this - there is no moratorium on foreclosures in Georgia or anywhere else in the United States.

Want more up-to-date Georgia mortgage information?
Click here to get Georgia Mortgage updates emailed to you.

NBAF's World Music Festival Includes Performances by Roy Ayers, Julie Dexter, and Hugh Masekela (Atlanta, GA July 26-27, 2008)

Kay, GA Mortgage Officer & VA Specialist — Mon, 21 Jul 2008 11:47:37 -0500

Kay, 404-298-5500, Georgia Mortgage Consultant

Location: Centennial Olympic Park - Atlanta, GA
This free festival is offered as part of the 2008 National Black Arts Festival. For full details, please visit their website.

Dates and Times:
Friday, July 25, 3 PM - 10 PM (International Marketplace Opens)
Saturday, July 26, 2008 Noon to 10:00 pm (Marketplace and Concerts)
Sunday, July 27, 2008 Noon to 10:00 pm (Marketplace and Concerts)

Performance Schedule:

Saturday, July 26
2:00 PM Giwayen Mata
3:00 PM Soul with Jamal Ahmed featuring Mausiki Scales & Julie Dexter
5:00 PM Vinx
7:30 PM Habib Koite
9:00 PM Hugh Masekela

Sunday, July 27
2:00 PM Orquesta Macuba
3:00 PM Kinky
4:30 PM Spanish Harlem Orchestra
6:00 PM Los Hombres Caliente
8:00 PM Roy Ayers

Price: Free and open to the public

posted by:

Applying for a Georgia Mortgage: Your Credit Score Makes A Big Difference

Kay, GA Mortgage Officer & VA Specialist — Sun, 20 Jul 2008 15:54:32 -0500

Kay, 404-298-5500, VA and Georgia Relocation Mortgage Specialist

Your Fair Isaac Credit Score (FICO) is a number between 300 and 850. The higher the number, the better. Each credit bureau (Equifax, Experian and TransUnion) issues you a credit score based on the FICO model. While there are other agencies that issue credit score ratings, most lenders use FICO.

Mortgage companies typically look at your “midscore” which is the middle of the three numbers. For example, if your credit scores are 710, 725 and 720, mortgage companies will base their decision on your midscore (720).

Your credit score doesn't only determine whether or not you get a loan, it also determines your interest rate, the maximum amount a lender will grant you, and the variety of mortgage programs available to you. For example, two people can have a mortgage loan approval, and one person could end up having to pay 3% down, while another would have to pay 10%.

In today's tight credit market, the most favorable mortgage terms are available to people with credit scores of 720 and above. Even FHA, which traditionally did not take credit scores into account, now will charge a higher upfront mortgage insurance premium for those who have lower credit scores.

Your credit score is not the only factor used to determine your mortgage. Lenders look at your overall profile, which includes your credit, employment, and assets.

For additional information about applying for a Georgia mortgage loan, feel free to contact me at 404-298-5500.

Posted by Kay, Georgia Mortgage Officer and VA Loan Specialist.
25 years banking and finance experience.
Helping residents of Lithonia, Dekalb County, and all of Georgia with their mortgage financing needs since 1998.

Not meant to be tax, financial or legal advice. Please consult a professional for information about your specific situation.

Dekalb County, GA Blues and Jazz Festival Celebrates its 7th Year (July 18-20, 2008)

Kay, GA Mortgage Officer & VA Specialist — Sat, 19 Jul 2008 12:59:47 -0500

Dekalb County's Blues and Jazz Festival Celebrates it's 7th Year (July 18-20, 2008)
Posted by Kay, 404-298-5500, VA and Georgia Relocation Mortgage Specialist

DeKalb County Chief Executive Officer Vernon Jones, the Board of Commissioners and the department of Arts, Culture and Entertainment (ACE) will host a three- day music extravaganza to celebrate the 7th Annual DeKalb Blues and Jazz Festival at Wade Walker Park located at 5580 Rockbridge Rd., July 18-20, 2008.

Early admission is free (lawn area only), and you can bring food and refreshments. No pets allowed.

Friday, July 18, 2008
Free Lawn Admission 3:00 pm to 5:00 pm
Con funk Shun
Whodini
Kurtis Blow
Tammie Allen
Dr. Lee.

Saturday, July 19, 2008
Free Lawn Admission: Noon to 3PM
Free Admission for Dekalb County Employees until 5:00 pm (ID Required)
Melanie Massell
Sol Factor
Deacon Bluz and the Holy Smoke Band
Mel Waiters
Heat Wave
Bobby Johnson
Michael Henderson

Sunday, July 20, 2008
Free Lawn Admission: Noon to 3PM
Ken Ford
Theodis Ealey
Warren Hill
Kal David
Theresa Hightower
SOS Band

Lineup is subject to change. Tickets range from $5 to $20 and may be purchased through ticketannex.com or at the gate. For up-to-date information, visit yourdekalb.com.

Dekalb County's Wade Walker Park is located at 5580 Rockbridge Road, Stone Mountain, GA 30088 (near Rockbridge Road and Stone Mountain Lithonia Road).

Posted by Kay, Georgia Mortgage Originator and VA Loan Specialist.
25 years Banking & Finance Experience.
(404) 298 5500
Since 1998, it has been my pleasure to help residents of Lithonia, Dekalb County, and all of Georgia with their mortgage financing needs.

Stone Mountain Park introduces a New Attraction - Sky Hikes

Kay, GA Mortgage Officer & VA Specialist — Sun, 01 Jun 2008 19:16:14 -0500

By Kay, Georgia Mortgage Officer and VA Specialist

If you've ever thought to yourself "that looks like a fun!" while watching people walk on suspension bridges high above the ground, your opportunity is here.

Stone Mountain Park, which is celebrating its 50th anniversary this year, has a new attraction - the Sky Hike.

Trek through the treetops. You can choose how high you want to "walk on the wild side." Trails are 12 feet, 24 feet and, for the truly intrepid, 40 feet up in the air.

Participants have to wear covered shoes and are strapped into harnesses for their own protection. For additional information about the Sky Hike at Stone Mountain Park, click here.

Posted by Kay, Georgia Mortgage Officer and VA Loan Specialist. Since 1998, it has been my pleasure to help residents of Lithonia, Dekalb County, and all of Georgia with their mortgage financing needs. Our team has over 25 years banking and finance experience. Our specialties are VA Loans and mortgages for people relocating to Georgia. Check today's interest rates or learn more about mortgage financing by visiting our website or calling 404.298.5500.

10 Ideas for Beating the Georgia Heat

Kay, GA Mortgage Officer & VA Specialist — Sat, 31 May 2008 18:59:57 -0500

by Kay, Georgia Mortgage Officer and VA Specialist

There is one thing to look forward to during summer in Georgia, and it is the heat! Trying to cool your Georgia home can be an expensive proposition.

This article from This Old House offers tips for changes you can make to cool your home without spending fortune.

To read it, please click here.

4 Fun & Frugal Activities to Enjoy with your Kids in Atlanta

Kay, GA Mortgage Officer & VA Specialist — Sat, 31 May 2008 18:18:25 -0500

By Kay, Georgia Mortgage Officer and VA Specialist.

It's summertime, and the kids are antsy.

Do you hear that? That's the sound of all the Atlanta parents asking - what do I do with these kids?

Here are a couple of fun, frugal activities to explore with the kids in Atlanta this summer.

Centennial Olympic Park. Built for the 1996 Atlanta Olympic games, Centennial Park remains a family favorite. Kids love to beat the heat by frolicking in the water fountains. Park entry is free. Centennial park holds 4th Saturday family fun days each 4th Saturday April through September. For a list of events, visit the Centennial Olympic Park web site.

Free Movies at Regal Movie Theatres. Regal's Free Family Fun Festivals offers a way for your kids to sit in air-conditioned comfort and watch a fun G or PG rated movie. Movies start at 10AM each Tuesday and Wednesday during the festival. Seats are available on a first-come, first-served basis. The Free Family Film Festival is not available at all Regal Theatres. For a list of Georgia locations, click on this link

Your local public library. Stop by your local public library, and you'd be surprised at the range of fun activities available for the kids. Libraries have everything from storytelling to movies. Your Georgia county's larger libraries may have a wider variety of activities.

You pick-it farms. Play in the dirt and help a local farmer at the same time. At Metropolitan Atlanta-area you pick-it farms, you and your kids can spend time picking everything from strawberries to tomatoes. You have to pay for what you pick, but you usually end up saving a significant amount of money. For a list of Georgia you pick it farms, please click here.

So, there you have it. Four ideas for fun and frugal ways to keep your kids occupied during Atlanta's hot summers.

Oh, and one more thing - take MARTA public transportation whenever possible. It is the smart, frugal way to get where you're going in Atlanta.

New Tax Breaks Affects Short Sales and Single-Parent Students

Kay, GA Mortgage Officer & VA Specialist — Mon, 31 Dec 2007 11:07:59 -0600

by Kay, Georgia Loan Officer & VA Specialist

Congress recently passed a law offering tax breaks to people:

who have had mortgage debt forgiveness (short sales and refinances),
are full-time students and single parents, or
pay private mortgage insurance (PMI).

Congress recently passed HR 3648, Mortgage Forgiveness Debt Relief Act of 2007.

The new law provides the following tax breaks.

Mortgage Debt Forgiveness (such as Short Sales)
In the past, people who have had part of their mortgage debt forgiven usually had to pay some taxes. For example, if a person owes $150,000 on a mortgage, and the lender allows them to sell the property for $100,000 to avoid foreclosure, the lender would usually send the seller a 1099 for $50,000. The property seller would have to pay income taxes on $50,000. Under HR 3648, the property seller may not have to pay income taxes on these discharged debts for qualified primary residences.

Single-parent full-time students Allows some full-time students who are single parents and their children to live in housing units eligible for low-income housing tax credit. This applies as long as their children are not dependents of anyone else (other than a parent).

Extends PMI Tax Deductions In the February 2007 email newsletter, I explained the provisions of the Tax Relief and Health Care Act of 2006, which made some PMI payments tax deductible. The tax deductions were originally intended to expire December 31, 2007. HR 3648 extends the tax deduction for mortgage insurance premiums through 2010.

For additional information about the tax breaks, please click here or visit http://snipurl.com/hr3648.

Please note: this is not intended as tax or legal advice. Please consult your tax accountant before making any tax-related decisions.

If you have any questions about obtaining a mortgage, call (404-298-5500 ) or email me anointedmi@aol.com

Posted by Kay at Anointed Mortgage, Inc. Since 1998, it has been our pleasure to help residents of Lithonia, Dekalb County, and all of Georgia with their mortgage financing needs. Our team has over 25 years banking and finance experience. Our specialties are VA Loans and mortgages for people relocating to Georgia. Check today's interest rates or learn more about mortgage financing by visiting AnointedMortgage.com or calling 404.298.5500.