Philadelphia Area Mortgage Blog

$8000 Tax Credit Available to First Time Home Buyers

Above All Financial Services -Pennsylvania Mortgage Broker — Mon, 23 Mar 2009 22:37:11 -0500

This information on the $8000 Tax Credit for First Time Buyers was originally posted on my mortgage information blog. I know the tax credit is generating a lot of inquiries so I am reposting the information here. This is a great incentive for those who may be looking to buy, but are still on the fence.

If you are in the market to buy your first home you may be able to take advantage of a new federal tax credit for first time homebuyers. Here are some facts about the tax credit:

The tax credit is for first-time home buyers only, a first-time buyer is defined as someone who has not owned a home in the past three years .
The tax credit does not have to be repaid. This is a change from last year's tax credit which was basically an interest-free loan, repaid over 15 years.
The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. So someone purchasing a $60,000 home would only receive a $6,000 credit, while someone purchasing a $300,000 home would only receive the $8,000 maximum.
The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
Single taxpayers with modified adjusted gross incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. Those with incomes over that amount may still qualify for a partial tax credit.

As you can see this is a great incentive for those who are considering purchasing a home this year, but are unsure if now is the right time to take the path to homeownership. For more reasons why 2009 may be a great time to buy, please read:

Why 2009 is the Time to Buy

Why 2009 is the Time to Buy - Part 2

Remember, before you even begin to look at houses you should contact a mortgage professional to get pre-approved for a loan, so that you will be sure you qualify and so you will know exactly how much home you can afford.

Please contact us with any questions or to get started today.

Information courtesy of Pennsylvania Mortgage Professional Michelle Chamberlain. For more mortgage related information visit www.mortgage411center.com. For information of small business loan alternatives visit www.ezmerchantadvance.com.

Help! I Can't Afford to Pay My Mortgage

Above All Financial Services -Pennsylvania Mortgage Broker — Sat, 21 Mar 2009 13:34:53 -0500

Many homeowners today are finding themselves in a situation where they can no longer afford to pay their mortgage. Perhaps they lost their job or because of the economy their income has been greatly reduced. Perhaps they had an adjustable rate mortgage and could no longer afford to make the payments once their interest rate increased. Or perhaps they simply bought more home than they were realistically able to afford. If you are a homeowner in this situation, where should you turn?

In my opinion there are a lot of folks out there that are in over their heads and may not be able to keep their homes no matter how hard they try. However, I also think there are a lot of homeowners who can be helped, but they just do not know who to contact or what to do. To read more about the different options available if you can no longer afford your home click here.

Written by Michelle Chamberlain

Homeowners who would like more information on mortgages please visit www.mortgage411center.com

Business owners who like information on small business loan alternatives visit www.ezmerchantadvance.com.

Keep the Change

Above All Financial Services -Pennsylvania Mortgage Broker — Wed, 04 Mar 2009 14:15:17 -0600

No matter what your political persuasion, I don't think you can deny the power of the graph posted above. Just wondering, who is going to make whole all the shareholders that lost their savings and retirement money in the stock market. Why stop at bailing out homeowners who have lost equity? Will we be bailing out 401(k) plans next?

Next time, Keep the Change

Honk if You're Paying My Mortgage

Above All Financial Services -Pennsylvania Mortgage Broker — Wed, 04 Mar 2009 00:02:11 -0600

I have a lot to say about the President's new plan to help homeowners who can no longer afford their home. I am sure I will have even more to say once the full details of the plan are released. This was originally posted on my own mortgage information blog but I am reposting it here. Plus, I really like this bumper sticker.

Via www.mortgage411center.com

On March 4, 2009 the complete details of the Homeowner Affordability and Stability Plan will be released. I have previously expressed my opinion on the plan, based on what has already been publicized, particularly objecting to the incentives and rewards included in the program to both banks and homeowners. Though, this plan is predicted to help between 7 and 9 million homeowners keep their home, through low interest refinances, loan modifications, and even principal reductions, The President stated in his televised speech last week that the program will only be available to help "responsible borrowers". Though this statement was met with a round of applause in the audience, it of course leads to the following question: Exactly who are the responsible borrowers?

First some facts:

1) It is estimated that about 93% of Americans are not behind on their mortgages. So this plan is geared toward only 7% of the population.

2) According to the fact sheet: This is a "new program that will provide the opportunity for 4 to 5 million responsible homeowners who took out conforming loans owned or guaranteed by Freddie Mac and Fannie Mae to refinance through the two institutions over time".

3) There are lenders and companies that are already successful in getting loans modified for homeowners without the intervention of the government and do not leave tax payers responsible with the tab.

My main problem with the plan is that the government should not be involved in the business decisions of banks and lending institutions and that the true responsible homeowners (the 93% who are not behind on their payments) should not be footing the bill. However, that is only a matter of opinion. The fact of the matter is that those who may truly need assistance may not be able to get it, and those who did make bad decisions may still be able to get bailed out.

As stated above the President's new program is only available to homeowners with loans owned or guaranteed by Freddie Mac and Fannie Mae. Now I don't expect the average homeowner to understand the significance of that statement, and I would guess that our government doesn't really understand it either. However, the fact that the program is only limited to loans guaranteed by those two institutions means that that there will be no help to borrowers who have non-conforming loans also known as subprime mortgages. Subprime mortgages were often given to borrowers with credit problems and carried higher interest rates. While one can make the argument that perhaps these borrowers should not be helped out, one must also note that there are many cases of borrowers who were placed into so-called subprime mortgages when they really could have qualified for a conforming loan. It has also been stated that the reason it is important to prevent foreclosures, is that even borrowers who are able to pay their mortgage suffer when foreclosures in their neighborhood cause declining home values. Yet, this program does nothing to offer assistance to borrowers that perhaps have a much greater risk of facing foreclosure, which seems a little contradictory .

Furthermore, I notice that the statement equates Fannie Mae and Freddie Mac loans with responsible borrowers and conforming loans. This is misleading as well. A loan can still be considered "conforming" yet still be a stated income, low down payment or an adjustable rate mortgage. That is, it is entirely possible that a borrower who has a conforming mortgage was not really "responsible" and bought more home than he could afford.

As you can see determing the "responsible borrowers" is not as easy as the government's plan makes it out to be. However, even if we are operating on the assumption that only borrowers with conforming loans should be able to take advantage of the program, should all conforming borrowers be classified as responsible? Should a person who lost his job and wants to continue to collect unemployment checks be included as part of the responsible borrowers simply because he as a Fannie Mae loan? Should the Realtor or Mortgage Loan Officer whose income greatly dropped because of the economy yet refused to get a part-time job to make ends meet be helped out as well? What about those who took the path to homeownership even though they had no savings to rely on or emergency funds set aside in case the they lost their jobs or income?

Which leads me to wonder, why the sudden government interest in helping "responsible" people anyway. Should we now overlook the fact the foreclosure problem in the housing market was caused in part by the government insisting that banks make loans to less than qualified borrowers? Should we all be picking up the tab for other people bad luck or bad decisions? One thing is certain, we are probably going to see a lot more of these bumper stickers going around:

You can get your sticker too at www.tngop.org

Pennsylvania Senator Arlen Specter - Your Tax Dollars at Work

Above All Financial Services -Pennsylvania Mortgage Broker — Sun, 01 Mar 2009 22:12:23 -0600

A few weeks ago I sent an email to US Senator Arlen Specter letting him know that I opposed the massive spending bill that was about to be voted on in Congress. Specter was one of three Republican Senators who was considering voting for the bill and being a resident of Pennsylvania, the state which he represents, I wanted to let him know that I opposed this bill and that he should as well. Today I finally received a response back from the Senator. Here it is:

Dear Mrs. Chamberlain:

As a senior member of the Appropriations Subcommittees on Foreign Operations and Defense, I have been uniquely engaged in foreign affairs while serving in the U.S. Senate. The 110th Congress is faced with many important international issues: the reconstruction of Iraq, the spread of nuclear technology, state sponsorship of terrorism, human rights, and global epidemics. To examine the challenges faced by the U.S. internationally, I have traveled extensively and entered into dialogue with the leaders of friendly and adversarial countries alike. My experience has led me to the conclusion that active engagement, open dialogue, and the strategic use of America's position on the United Nations Security Council is critical to achieving international peace and security.

With respect to our foreign aid budget, I believe it is important for the U.S. to give valuable assistance overseas while keeping with our national interests. On December 18, 2007, I joined many of my Senate colleagues in writing to President Bush, to urge that in Fiscal Year (FY) 2009 the Administration's continue its past efforts to increase U.S. investment in the International Affairs Account.

I supported the FY08 Foreign Operations Bill. This measure included $1.03 billion for the Migration and Refugee Assistance account, with $45 million designated specifically for the Emergency Refugee and Migration Assistance Fund, a funding level that reflects America's fundamental commitment to helping those who have been forced to flee their native countries. I also supported the inclusion of $1.56 billion in funding for the Millennium Challenge Account, an innovative foreign assistance initiative that provides assistance to countries committed to pursuing healthy political and economic policies. Additionally, the bill included an important contribution of $550 million to the Global Fund to Fight AIDS, Tuberculosis and Malaria.

I believe that a U.S. emphasis on international diplomacy and development is critical to achieving global security. Rest assured that I will continue to advocate for dialogue with the international community and robust funding for vital U.S. international assistance programs.

Thank you again for contacting me. The concerns of my constituents are of great importance to me, and I rely on you and other Pennsylvanians to inform me of your views. Should you have any further questions, please do not hesitate to contact my office or visit my website at http://specter.senate.gov.

Sincerely,

Arlen Specter

Honestly, do you think that whoever took the time to send me this canned response could have at least bothered to address my concern? Could they at least have read it and pretended to care? Needless to say, guess who I will NOT be voting for next election?

Written by Pennsylvania Mortgage Professional Michelle Chamberlain

For mortgage information visit www.mortgage411center.com and www.aboveallmortgage.com.

For small business financing visit www.ezmerchantadvance.com.

Stimulate your Mortgage or Real Estate Business - The Federal Government Shows You How

Above All Financial Services -Pennsylvania Mortgage Broker — Fri, 27 Feb 2009 21:27:47 -0600

We've all heard the saying "It takes money to make money" meaning that in order to sucessfully grow your business you have to be willing to invest in it. Our federal government has recently taken this theory to heart with the passing of a massive government spending plan aka the Stimulus Plan in some circles and the Porkulus Plan and the Generational Theft Act in others.

The government's "it takes money to make money approach" is based on an economic theory of the spending "multiplier effect". That is for every dollar the US government spends in a certain sector the economy will grow by a multiple of that amount. Here are the spending areas that one economist states will give the government the most bang for the buck:

Extend Unemployment Insurance Benefits 1.64

Temporarily Increase Food Stamps 1.73

Issue General Aid to State Governments 1.36

Increase Infrastructure Spending 1.59

As you can see for every $1 the government spends to incease food stamps the economy will grow by $1.73. So if the government spends $100 million dollars to increase the amount of food stamps, the economy will grow by $173 million.

This should lead those of us who are protesting the amount of government spending to reconsider. I mean why spend only a trillion or so dollars? If it is so easy to spend our way to prosperity, let's just spend a gazillion dollars, which when the multiplier efffect is taken into account, willl take the term "economic superpower" to a whole new level.

While, I'm not an economic expert, I am guessing that this mulitplier effect can also be applied to small businesses as well. For instance you may have found that for every dollar you invest in direct mail marketing you can grow your real estate or mortgage business by 1.49. Or perhaps you know that for every dollar you invest in internet marketing your business grows by 1.32. New office furniture or carpeting for the office may increase your revenue by 1.2.

As you can see, what every small business owner needs to do is come up with their own stimulus plan, spend a few million on their businesses, and take full advantage of this spending muliplier effect. Don't be afraid to spend even if it seems frivolous. So if you've always wanted say, a frisbee golf course, go for it! If all goes as planned ( and why wouldn't it?) , we should all be able to retire early to some foreign country where the cost of living is cheap. (Probably since they haven't yet figured out how to spend their way to a prosperous economy).

Now I know what you are thinking: I don't have a few million dollars lying around, and unlike the US government I can't just print my own money, so how can I get this stimulus plan to work for me?

Well I listened to the president's address to Congress earlier this week, and he stated that in order to get this economy moving the banks need to start lending money again. In fact he went as far as to say that "if we do not restart lending in this country, our recovery will be choked off before it even begins". He also stated that our economy is based on credit, which is true, and if you overlook the fact that our credit based economy collapsed because of the fact that banks lent money to people to couldn't afford to pay it back, I don't see any reason why the banks would be unwilling to lend you a few million dollars in order to create a stimulus plan of your own.

However, in the event the loan officer at the bank turns down your application for a small business loan just remember "Yes We Can!". And if all else fails, we will always have Hope and Change You Can Believe In.

cartoon courtesy of www.townhall.com.

Written by Michelle Chamberlain

For mortgage and business financing information visit:

www.mortgage411.com

www.aboveallmortgage.com

www.ezmerchantadvance.com

The Mortgage Bailout Reward Program

Above All Financial Services -Pennsylvania Mortgage Broker — Mon, 23 Feb 2009 00:21:06 -0600

By now you are probably well aware of the massive spending stimulus bill that was just signed into law. You also may have heard that the President also has a plan to help homeowners that cannot afford to pay their mortgage. Known as The Homeowner Affordability and Stability Plan, the White House says that it contains 4 key goals:

Refinancing help for four to five million homeowners who receive their mortgages through Fannie Mae or Freddie Mac
New incentives for lenders to modify the terms of sub-prime loans at risk of default and foreclosure
Steps to keep mortgage rates low for millions of middle class families looking to secure new mortgages
Additional reforms designed to help families stay in their homes

This plan has sparked outrage from responsible citizens who see this massive mortgage entitlement plan as unfair to homeowners who pay their bills on time, and who live within their means. What is really outrageous about this plan however, is the rewards and incentives which are built into the program. Yes, not only is the government (read: taxpayer) subsidizing the lower interest rates and principal reductions which will be given to borrowers under the program in order to mortgage payments more affordable, but also extra incentives such as:

"Pay for Success" Incentives to Servicers: Servicers will receive an up-front fee of $1,000 for each eligible modification meeting guidelines established under this initiative. They will also receive "pay for success" fees - awarded monthly as long as the borrower stays current on the loan - of up to $1,000 each year for three years.

Incentives to Help Borrowers Stay Current: To provide an extra incentive for borrowers to keep paying on time, the initiative will provide a monthly balance reduction payment that goes straight towards reducing the principal balance of the mortgage loan. As long as a borrower stays current on his or her loan, he or she can get up to $1,000 each year for five years.

Yes, you are reading that correctly. The government will now pay lenders $1,000 up-front to modify a loan, despite the fact that the government is also subisidizing the interest rate and principal reductions. This is supposed to be an incentive for lenders to participate in the program, but isn't the fact that the government is now subsidizing any losses the lenders would be taking by modifying the loans incentive enough? The lender also gets a $1000 a year bonus for up to three years if the borrower remains current on the loan because... Um, I really don't know what the rationale for this is other than the fact that the government likes spending OPM (Other People's Money).

But that's not all. The borrower also gets an incentive to stay current on the mortgage, in the form of a $1000 per year principal reduction on the mortgage for the next five years. Excuse me, but what happened to the old days when the incentive to stay current on the mortgage was that you get to keep your house? Are we actually paying people not to be deadbeats? What's next? Free gas for life as long as you make your car payments on time? Free groceries as long as you promise to feed your hungry children? At some point aren't we crossing the line between helping to fix the economy and just being plain old stupid?

Written by Michelle Chamberlain and originally posted at www.mortgage411center.com.

To apply for a mortgage online visit www.aboveallmortgage.com.

For an alternative to a small business loan visit www.ezmerchantadvance.com.

Why 2009 is the Time to Buy - Part 2

Above All Financial Services -Pennsylvania Mortgage Broker — Thu, 15 Jan 2009 01:15:57 -0600

Personally I hate it when everyone in the real estate business talks about how "It's a great time to buy!". Of course they are going to say that, they are trying to sell you a house or a mortgage loan, or they somehow make their money in Real Estate, what do you expect them to say? (Donald Trump are you listening? Have you ever once stated that it was NOT the time to buy???) However, I do think that those who are saying it this time, taking into account the combination of low interest rates and low home prices, may actually be right. Here's why.

As a mortgage professional, I am seeing a large increase in the number of homeowners looking to refinance their mortgage loan. They have all heard about the current low interest rates and want to take advantage of them. Right now, I have enough refinances to keep me busy for the foreseeable future. I have no need to market to prospective homebuyers, but I am. There are a lot of great incentives to buy right now and I don't want anyone to miss out on these opportunites. To learn why read the previous post, A New Home For the New Year - Why 2009 is the Time to Buy.

However, I am not the only mortgage professional who thinks it is time to buy. Tennessee Mortgage Professional Danny Thornton thinks it is Time to get off the fence, and shares with us the new commercial from the National Association of Realtors with the same message. I like the commercial so much I have posted it on my own website and am sharing it here as well.

My only complaint is that the commercial should have advised potential homebuyers to get preapproved for a mortgage loan, before talking to a Realtor. What good is convincing potential homebuyers to get off of the fence and buy a home only to find out they don't qualify for a mortgage loan in the first place?

If you think 2009 is the time to buy and are ready to get off the fence and into your own home visit www.aboveallmortgage.com.

Suze Orman Free Book Download - 2009 Action Plan

Above All Financial Services -Pennsylvania Mortgage Broker — Fri, 09 Jan 2009 00:50:40 -0600

Who likes free stuff??? I know I do! Well, right now Oprah Winfrey and Suze Orman are offering a free download of the book Suze Orman's 2009 Action plan. But it is only available until January 15, 2009. You can get your free copy of the book by clicking here.

I like Suze Orman, because she offers conservative financial advice and encourages people to budget their money and to only buy things they can really afford. I have a feeling that if more people listened to Ms. Orman's advice, they would never have bought house they couldn't afford, or racked up thousands of dollars in credit card debt and our country may not have been in the financial crisis we are currently facing. The book includes chapters devoted to our current economic state, explains how we got in this mess, and advice on how to create an action plan for dealing with: Credit, Retirement Investing, Saving, Spending, Real Estate (including mortgages), and Paying for College.

If anyone is looking for a good basic understanding of personal finance, especially during these tough economic times, or needs some help in planning for the future, they ought to take advantage of this deal. Now, who said there's no such thing as free?

Information courtesy of Michelle Chamberlain, of Above All Financial Services, Pennsylvania Mortgage Broker. Ms. Chamberlain is in no way affiliated with Suze Orman or Oprah Winfrey but rather is an advocate for financial education and likes free stuff.

Homeowners, get the mortgage loan you need at www.aboveallmortgage.com

Business owners, get the cash you need at www.ezmerchantadvance.com

A New Home for the New Year. Why 2009 is the Time to Buy.

Above All Financial Services -Pennsylvania Mortgage Broker — Thu, 08 Jan 2009 00:14:20 -0600

Since, I previously posted on making refinancing your current mortgage a goal for the New Year, I now would like to address why those who are looking to purchase a home should do so in 2009. First, let's be clear, the real estate market of today is a lot different than it was a few years ago, where almost anyone could get approved for a loan, regardless of credit, income, or assets. However, assuming your credit is in good shape, you have a steady income which you can document, and you have sufficient savings there is still money to lend. If you are not quite ready to buy, I will be writing next about coming up with a plan to help realize your dream of homeownership.

Why should you buy in 2009?

1) Mortgage interest rates are at an all time low and lower rates mean lower payments.

2) Home prices have dropped making homes more affordable. In some areas there are real bargains.

3) Excess inventory make this a buyer's market, and sellers may be more willing to negotiate.

4) First time homebuyers may be eligible for a tax credit of up to $7500 on homes purchased before July 1, 2009.

5) The combination of these factors actually make buying a home now a wiser choice than at the peak of the market when there was a frenzy to outbid other potential buyers on already overpriced homes, no additional incentives to buy, and the lingering fear that the bubble would one day burst.

6) Waiting for the market to reach the bottom is a bad idea. The only way to know when we've truly reached the bottom is when home prices start to go back up.

For those who are thinking about buying but may still be "on the fence", you may need to ask yourself "Is It Time to Develop a Sense of Urgency?", and consider taking advantage of these opportunities before it is too late. For those who are ready to act, the first step to purchasing your new home is to contact a mortgage professional to learn more about the loan process, find out how much you can afford, and to get pre-approved. Getting pre-approved before you start looking for homes will show that you are a serious and qualified buyer and will give you an advantage when you decide to make an offer on a home.

Visit www.aboveallmortgage.com to take the first step to becoming a homeowner in 2009.

Refinancing Your Mortgage Loan - A New Year's Resolution You Can Keep

Above All Financial Services -Pennsylvania Mortgage Broker — Tue, 06 Jan 2009 00:19:14 -0600

It's the New Year again and that means lots of promises and plans to change for the better. If you are like most Americans you are probably telling yourself that now that 2009 has arrived you will either: lose a few pounds, get back into shape, take up a new hobby, get organized, take control of your finances, or some other resolution that will probably become abandoned before Valentine's Day. This year, why not start the New Year off right and cross one of these items off the list right now? If you have resolved to take control of your finances, then refinancing your mortgage loan may be in order, and there has never been a better time to do so then now. (If you don't yet own a home and would like to make homeownership a goal for 2009, stay tuned. I'll be covering that next.)

Why refinance your mortgage in the New Year? The reasons are many:

1) Mortgage interest rates are at an all time low and lower rates mean lower payments.

2) If you still have an Adjustable Rate Mortgage (ARM) you can refinance and enjoy a low fixed rate.

3) If you have equity in your home you can get cash out to use for other purposes.

4) Mortgage guidelines are tightening so you may not qualify for a loan progam when you finally do decide to refinance.

5) No one knows if home prices will continue to decline and waiting to refinance may mean losing equity and not being able to qualify in the future as well.

Visit www.aboveallmortgage.com to learn more about the loan process and to apply online. Then with that out of the way, you'll have the rest of 2009 to work on achieving you other goals. Happy New Year!

Written by Michelle Chamberlain, Above All Financial Services

Homeowners, get the mortgage loan you need at www.aboveallmortgage.com

Business owners, get the cash you need at www.ezmerchantadvance.com

Maybe They Weren't Drinking Kool-Aid Afterall...

Above All Financial Services -Pennsylvania Mortgage Broker — Mon, 05 Jan 2009 19:35:12 -0600

There I was late last night watching Desperate Housewives recorded earlier on my DVR. I was forwarding past the commercials when something caught my eye. It was a commercial for Pepsi which looked suspiciously like an ad for something or rather someone else.

What do you think? Coincidence or something more? And since Diet Pepsi is my drink of choice should I now switch to Diet Coke?

Upper Darby Township Single Stream Recycling Program Begins in 2009

Above All Financial Services -Pennsylvania Mortgage Broker — Sun, 28 Dec 2008 00:23:29 -0600

A few weeks ago I opened my front door to find a new larger recycling bin on my porch with a pamphlet inside introducing the new recycling program in Upper Darby Township. Ironically, I received the exact same pamphlet in the mail a few days later (so much for wanting to save trees). However, I was pleased to see that Upper Darby has expanded the recycling program to include glass and plastic bottles and that items to be recycled now can be placed all in the big blue container instead of having to separate everything.

Items to recycle now include:

Cardboard
Food Boxes
Glass and Cans
Plastic Bottles (numbers 1 and 2)
Mail, Magazines & Newspaper
Phone Books

Items NOT to be recycled are:

Lightbulbs or Windows
Dishes, Pyrex or Ceramics
Foam Packing or Styrofoam
Plastic Bags
Unmarked Plastic, Toys, Chairs, Laundry Baskets.

Unfortunately, recycling is still collected every other week. The schedule and map can be found in the 2009 calendar distributed by the township to residents. Additional information on the Upper Darby Recycling Program can be found online, although the website is not yet updated to reflect all of the changes for 2009.

Additionally here are some other resources I've used for recycling in Upper Darby Township:

Primos Elementary School collects paper (newspaper, mail, magazines) in a bin which is located in the side parking lot of the school. The paper collected helps to raise money which benefits the school. This is a great alternative to the every other week at home collection since you can drop off paper 24 hours a day and it benefits the students. Check to see if your neighborhood school participates in this type of progam as well.
The Clifton Heights Acme has a bin for the collection of plastic bags inside the front entrance. Although I try to reuse plastic bags whenever I can I sometimes end up with more than I could ever use and drop them off here. Other supermarkets in your area may possibly collect plastic bags as well.
Also outside of the Clifton Heights Acme is a mailbox for the collection of eyeglasses that are no longer needed. This collection bin is sponsored by the Lions Club , contact your local branch for a collection box nearest you..

A complete list of Pennsylvania Recycling Drop Off Locations can be found on the Pennsylvania Department of Environmental Protection website.

Information courtesy of Pennsylvania Mortgage Broker, Michelle Chamberlain.

To recycle your current mortgage into a low fixed rate visit www.aboveallmortgage.com

For small business financing visit www.ezmerchantadvance.com

Mortgage Professional or Used Car Salesman? Why it Pays to Know the Difference.(UPDATED)

Above All Financial Services -Pennsylvania Mortgage Broker — Mon, 08 Dec 2008 01:53:48 -0600

When shopping for a mortgage loan to purchase or refinance a home, if the loan officer begins the application process asking "What payment are you comfortable with?", don't walk away... Run!

Most of us know that the #1 rule of negotiating for a car is to NOT answer the "what can you afford" question. Otherwise, when we answer $350 per month we end up driving off of the lot with a $350 per month payment for 36 months... and a 10 year old Ford Escort. Once the salesman knows what you are willing to pay, there is no incentive to give you the best deal and the difference between what you can qualify for and what you are willing to pay, equals BIG PROFIT.

Did you know however that it works the same way with mortgages? Some loan officers want clients to believe that it doesn't matter what the interest rate is, as long as you are comfortable with the payment. Therefore, if you are comfortable with a $2000 payment, then it shouldn't matter if you are charged 20% interest on the loan. But the simple fact of the matter is that it does, and used car salesman tactics like this have no place in a mortgage transaction. Why? Because again the salesman pockets the difference between the rate for which you qualify and the rate for which you are willing to pay. Now, don't get me wrong, I am not expecting anyone to work for free, but it seems to me that when a salesperson asks how much you are willing to pay it is not because he is taking your best interest into consideration, he is only trying to figure out how much he can charge. Not only that, but most first-time homebuyers and even some more experienced buyers have no idea what they realistically can afford and it is the responsibility of the mortgage professional to help walk them through the process so that they can figure out together what is in the best interest of the customer.

In his blog Jeff Belonger attempts to make a case that we shouldn't get too excited about a potential drop in interest rate to 4.5% based on his belief that we should focus on payment not rate. Now I do believe there is some validity to the point, but these reasons are not addressed in his post. I have previously written about why we should not focus solely on rates when I wrote about adjustable rate mortgages which were being deceptively marketed and about a customer who missed out on refinancing because she wanted a lower rate than what she qualified for. And of course, the lowest rate in the world doesn't mean anything if you have to pay loads of fees and points in order to get it. However, in this case, the sole argument against the lower rate seemed to be that the potential savings were "not that spectacular", which is a short-sighted argument at best.

I will use the example of the payment differences with a lower interest rate for a $120,000 loan even though I do think the $200,000 loan example is more accurate because it is closer to the median home price in the US. When you look at the real advantages of a lower interest rate on a $120,000 loan you will realize that the savings are significant and will be even more so as the loan amount increases.

EDIT: These are the same numbers that Jeff Belonger used in his blog which I linked to above. I thought this was OBVIOUS due to the fact that I referenced Jeff's blog, linked to it, referred to it as "the example" instead of "my example" and made it clear that I didn't think using a loan amount of $120,000 was the best example due to the median home price in the US being much higher. However, Jeff has accused me of plagiarism so it case it wasn't clear before, these are Jeff's numbers not mine!!!!

Furthermore, the point of this post was not to attack anyone professionally or to imply that anyone was less than honest or professional. I was merely pointing out that applying for a mortgage loan, much like buying a car, buying a house, shopping at a flea market etc. involves the art of negotiating. While negotiating , the person who speaks first and lets the other know what he is willing to pay usually loses. I prefer to use a consultative sales approach, where the client and I determine together what best meets their needs. If you reference the chart below (again Jeff's numbers), if a client tells you initially that he is looking for a $720 payment on a $120,000 loan that would give him a 6% rate. What incentive does the loan officer have to offer him the 5.5% rate should he qualify for that if he already knows you would pay $720?

Mortgage Amount	$120,000	$120,000	$120,000
Interest Rate	6.00%	5.50%	4.50%
P & I Payment	$719.00	$681.00	$608.00
Difference in Payment	--	($38.00)	($111.00)

As you can see in the above chart, the difference in payment on a $120,000 loan with a 6% interest rate and a 4.5% rate is $111.00 per month. Now some might say this savings is minimal or "nothing spectacular" but I beg to differ:

First, with the economy the way it is, $111 per month is a huge savings for those on a tight budget and could possibly make the difference between someone being able to afford a home and continuing to rent.

Second, discounting the savings as only $111 per month ignores the effect of compounding interest over the life of the loan. At 6% you will pay $139,005 in interest over the life of the loan, at 4.5% $98,888. That is a savings of over $40,000 in interest alone!

Third, let's look at the difference in purchasing power. Assuming our borrower only qualified for a $720 monthly payment (I am ignoring taxes and insurance). At 6% they would qualify for a $120,000 loan, but at 4.5% they would qualify for $142,000, a difference of $22,000. That may mean the difference between buying a fixer-upper and a home that has been completely remodeled, or a 3 bedroom home instead of 2.

Last, one of the things I try to do whenever I refinance a loan is try to show the client how to take the money they are saving, and pay the loan off early. In this case our client is comfortable with the $719 monthly payment and the 6% interest but we take advantage of the 4.5% interest rate and take the $111 savings and apply it as an extra principal payment each month. By doing this, the client can pay the loan off 7 years and 11 months earlier and save $30,000 in interest over the life of the loan.

You can see from the examples above that the potential savings with a drop in interest rate are far greater than the $111 per month. Let's not forget that it is rate that brings customers through the door and makes our phone start ringing. People love to get a bargain. That's why we buy things at Walmart for $9.88 instead of $10.00 at other stores and while we'll drive 2 miles down the road to the $1.77 gas station instead of the one that charges $1.83, even though if you don't drive an SUV the real price difference on a full tank of gas is less than a buck.

It puzzles me why someone in the real estate/mortgage business would think that this proposed 4.5% rate program is not a good idea, especially after all the bad news we've been hearing lately, this may finally be what we need to get the housing market back on track. Keep in mind that this was only a proposal and it is too early to know if or when this will actually occur or the specifics of the program. I do however think that with or without the 4.5% rate that interest rates are still considerably low and if you are looking to buy a new home or refinance your existing loan that it is a great time to get the ball rolling. Contact me today to set up a consultation, or visit www.aboveallmortgage.com. I can promise you professional service, the best programs to meet your needs, and no used car salesman tactics!

(Photo courtesy of Flickr user riverspring)

Written by Michelle Chamberlain, Above All Financial Services

Homeowners, get the mortgage loan you need at www.aboveallmortgage.com and www.mortgage411center.com.

Business owners, get the cash you need at www.ezmerchantadvance.com

Pretty Soon We'll All Be Out of Business...

Above All Financial Services -Pennsylvania Mortgage Broker — Thu, 04 Dec 2008 00:06:03 -0600

As if those of us who are still fighting to remain in the Real Estate and Mortgage Business aren't having a tough enough time as it is, now we have to compete with the likes of this enterprising young man who is finding people their dream home for free. Yes that is right, FREE, as in not only no commissions charged but the clients aren't paying for the homes either. No downpayment, no credit, no income, NO MORTGAGE. How long before this catches on across the country?

From the Associated Press:

Max Rameau delivers his sales pitch like a pro. "All tile floor!" he says during a recent showing. "And the living room, wow! It has great blinds."

But in nearly every other respect, he is unlike any real estate agent you've ever met. He is unshaven, drives a beat-up car and wears grungy cut-off sweat pants. He also breaks into the homes he shows. And his clients don't have a dime for a down payment.

Rameau is an activist who has been executing a bailout plan of his own around Miami's empty streets: He is helping homeless people illegally move into foreclosed homes.

This thief activist and his associates have formed the group Take Back the Land, which also helps new "tenants" with furniture, and maintenance on the homes. The story quotes Rameau as saying "I think everyone deserves a home" and similar nonsense from a satisfied customer, who after moving into a $460,000 home free of charge states, "My heart is heavy. I've lived in a lot of different shelters, a lot of bad situations...". "In my own home, I'm free. I'm a human being now."

Now don't get me wrong, I am not disagreeing with either of them, there really is nothing like the feeling of having your own home. It's just that I prefer people to get their own home the old-fashioned way, you know paying for it.

And because by this point I've become convinced that the new job of the media is to advise people how to live in a home for free, or at least at a substantial reduction of the original mortgage balance (see story here), the AP is kind enough to point out that although the city of Miami knows what is going on, they are not planning on taking any actions to stop it. Note: To anyone looking to relocate to Sunny Florida or perhaps pick up a vacation home there, this may be the deal you were looking for.

Of course, I'm not really sure why I am surprised by all of this. We were all advised before the election that we would no longer have to worry about putting gas in our cars or paying our mortgage.

Seems that lady must have known what she was talking about afterall. Now how about that free gas???

Are You An Idiot to Keep Paying Your Mortgage? The Answer May Surprise You.

Above All Financial Services -Pennsylvania Mortgage Broker — Thu, 20 Nov 2008 21:36:24 -0600

Real Estate and Mortgage Professionals are usually not too happy when the media chooses to report on the industry, since they feel that the media tends to emphasize the negative news (home prices falling, foreclosures increasing) instead of the more positive news (lower rates, more affordable housing). While sometimes I wish that we could gag the media , I try not to get too upset over what's reported in the news about the real estate market or worry that the negative press is hurting my business. I know that the only person who truly has the media in his backpocket just got elected president, so if I want to get the positive news out there to potential consumers or dispel the negative messages, I have to do it myself. That's part of the reason why I blog.

While we can't expect the media to takeover as a PR representative for the real estate and mortgage industry, we should, however, expect at least a semblance of professional journalism. This piece Are You an Idiot to Keep Paying Your Mortgage written by Kathleen Pender, ain't it. The article, from the San Francisco Chronicle, basically reads like a how to guide on avoiding paying your obligations and sticking it to your lender.

Should you keep paying your mortgage?

If you have significant equity in your home, absolutely.

If you don't, it's getting harder to answer that question, especially when our government keeps giving people who owe more than their homes are worth so many reasons not to pay.

The article goes on to quote the campaign fact sheet of the president-elect which states "the real victims in the subprime mortgage crisis are not the lenders, but the millions of borrowers who followed the rules and whose only crime was taking out mortgages that lenders told them they could afford." I guess if "The One" wrote it, and the reporter quotes it, it has to be true, right? I mean should we really expect personal responsibility to come into play here? If the greedy lender told you that you could get approved for a $2000 monthly mortgage payment, yet you only take home $500 per week, how were you supposed to know you wouldn't be able to make the payment?

While the article briefly discusses the other loan modification available from the FHA, it focuses mainly on the Streamlined Modification Program, for which you must be 90 days delinquent to qualify. The reporter provides this helpful tip:

The streamlined process looks only at income, not assets. If you refinanced your home to buy a Mercedes or own another home, you won't be expected to sell them to pay your mortgage.

Whew! That's a relief. Wouldn't want anyone to have to sell the E-class or the shore house to have to pay their mortgage. But there's more. Like any good reporter, we have the requisite "expert" quotes and opinions such as:

Peter Schiff, president of Euro Pacific Capital, predicts that many homeowners who have little or no equity will stop paying their mortgage and then reduce their income to get the biggest payment cut possible. They could stop working overtime or, if two spouses work, one could quit. After the modification, they could try to boost their income again.

"This is a once-in-a-lifetime opportunity," Schiff says. "People are going to feel like complete morons if they don't participate. The people getting punished are the ones who never made an irresponsible decision to buy a house they couldn't afford."

Gee, I feel like a moron already. I am one of those people who didn't make an irresponsible decision and is getting punished by not being able to take advantage of this deal. But I can at least take solace in the fact that these people are gonna have screwed up credit for like the next 7-10 years , right?

Well um, not really:

Risking your credit score for a lower rate "sounds like a game of chicken on the lending highway," says Craig Watts, a spokesman for Fair Isaac, which markets the FICO credit score.

But then:

A 90-day delinquency will hurt your score, but not as badly as a foreclosure. How many points it takes off depends on other things in your credit file, such as the number and severity of late payments on other accounts.

In the latest version of FICO, which is just being rolled out, "one isolated delinquency will do less damage to your score than it has in the past," Watts says.

Consumers who suffer a severe delinquency can rebuild their scores over time by paying all credit accounts on time and keeping their balances low.

And then the priceless:

"If it was me and I was certain that I could keep my home even after missing a couple payments by working out a deal with the lender, I'd be for keeping the home," Watts says. "Your score will bounce back."

While, I know any competent mortgage professional would never dream of advising someone to stop paying their mortgage so that they may possibly get the loan modified, Ms. Pender's piece pretty much implies that not only should you do it, you'd be an idiot not to. I look forward to her next responsible piece of reporting, which will probably be entitled "Are you an Idiot to Keep Making Payments on your Lexus? The Repo Man Can't Find You if He Doesn't Know Where to Look."

Written by Michelle Chamberlain of Above All Financial Services, a Pennsylvania Mortgage Broker. To learn more about applying for a residential mortgage visit www.aboveallmortgage.com . For information on Small Business Financing visit www.ezmerchantadvance.com.

Bookworm MeMe - Not as Easy as I Thought it Would Be - Thanks Fred!

Above All Financial Services -Pennsylvania Mortgage Broker — Thu, 20 Nov 2008 00:26:19 -0600

So, I received an email from Fred Chamberlin this morning telling me to check out his blog because I was in it. Great! I thought. Fred probably wants to tell everyone what a terrific mortgage broker I am and that everyone should send all of their business to me. But alas, it was not the endorsement I was looking for but rather notice that I had been tagged for this MeMe.

This was my first MeMe but I didn't think it looked too difficult. No tough personal questions only these simple rules:

1. Grab the nearest book.

2. Open the book to page 56.

3. Find the fifth sentence.

4. Post the text of the next two to five sentences.

5. Don't dig for your favorite book, the cool book or the intellectual one. Pick the Closest.

6. Tag five people to do the same

*The one book that this can not be is the Bible*

Seems, easy. However, due to being extremely busy, my reading selections lately have been reduced to Curious George and Dora the Explorer bedtimes stories. I wanted to follow the rules exactly but the closest book to me was One Fifth Avenue, by the author of Sex and the City. I didn't start reading it yet, but having read other books by the author, I was worried that page 56, might contain some inappropriate dialogue that I'd rather not post here.

I decided to bend the rules a bit and look for a second book, and grabbing the only other non chick-lit and unread book in sight, It All Began With Wilt, I was disappointed to find that page 56 contained only a photograph. That's what I get for cheating!

So back to the original book:

"Apparently , all the other wives have them. So you'll fit in, he said. And noting her expression, added, "If you want to."

"We don't fit in," she said. "That's why people love us."

Since I previously wrote a post about not wanting to fit in, I thought this selection was fitting.

I will be nice and tag only 3 people:

Maryellen Garasky - who is a big Dora the Explorer fan herself.

Jeannie Kontis - who was nice enough to help me figure out how to reformat my blog into the smaller format making it easier to read.

and

The Somers - because they never seem to fail to read and comment on my blog so I won't have to send them a surprise email like Fred sent me.

How NOT to Shop for a Mortgage Online.

Above All Financial Services -Pennsylvania Mortgage Broker — Tue, 18 Nov 2008 22:05:28 -0600

Recently, I received an online request from a prospect who was looking on the internet for mortgage companies and found us in the search engines. The good news, is this means my SEO is working, especially since I wasn't even aware that we ranked for that particular keyword. The bad news is that I was unable to help her out. Here's why:

The prospect requested that I email her a Good Faith Estimate (GFE) (not an unusual request, as most people who apply for mortgages are shoppers who typically like to compare rates and fees from competing lenders). However, although she did provide me with some personal information (credit score, purchase price, downpayment) this was not enough information to provide her with the information she needed. With no contact information other than an email address, I responded back that we would need a completed full mortgage application, in order to provide her with an accurate GFE. She never responded back.

Now, I'm not against sending a prospect a GFE, I do it all the time. In fact, it's required that you provide RESPA disclosures within three business days of an initial mortgage application. But the key word is "application". There are many different criteria that go into pricing a mortgage loan; credit (of course), income, employment history, Loan to value (or % of down payments for purchases), and purpose of the loan, among other criteria. And while a Good Faith Estimate is just that, an estimate, any responsible mortgage professional does everything possible to make sure that their estimates are accurate (or at least very close). If I would have sent that customer a GFE for, say 6% on a 30 Year Fixed Mortgage, and she commited to doing the loan based on my estimate, only to find out later that the rate she qualifies for is actually significantly higher (or that she doesn't qualify at all), at best I would be looked at as incompetent; at worse, a dishonest loan officer that this industry is currently trying to shake out as we speak. If I'm going to quote you a rate (especially in writing), I want to make sure it's an estimate I can stand by.

There are other concerns here as well. First, I'm relatively sure that we are probably not the only mortgage company that received the same request from this potential customer. She was obviously shopping around and may have even been urged by another mortgage company or perhaps her real estate agent to get a few estimates. The issue here is that although she was not going to get a GFE without completing a mortgage application from my company, I am pretty sure that she will manage to get one from someone else. Afterall, most loan officers are hurting, business is down, and this client with her 720 credit score (according to her), money to put down, and good size loan amount would seem like an easy payday. Some loan officer somewhere will toss out a few figures (which will be way lower than actual figures at closing) in order to get the prospect in the door. However, this is a bad way to do business, for both the customer and the loan officer since they are both making decisions based on assumptions.

The second concern is that because a mortgage can be a complicated transaction, there is no one size fits all scenario or price. Shopping for a mortgage online is not like buying a book, or a camera. You cannot just type what you are looking for into google and choose the merchant with the lowest price for the particular title or model that you need. But, even if you could, shopping based on price alone is ignoring another important factor which is service. If you are not taking time to speak to a loan officer, ask questions, and get to learn about how they do business, and you are choosing your mortgage company based on the lowest quoted price, you may be potentially making another mistake. The company may be cheap, but are they competent and can they close your loan?

I can only hope that things work out for this customer, and that she doesn't have to learn the hard way that it's not Good, to put her all of your Faith, in an Estimate ... without submitting a full application first.

Renter? Is now the time to buy a home? Have you considered cash flow?

Above All Financial Services -Pennsylvania Mortgage Broker — Fri, 14 Nov 2008 23:48:40 -0600

With home prices in Delaware County and the Philadelphia area becoming more affordable, it may be time to think about buying a home instead of renting. The following post explains the principals of cash flow and how it may be possible to buy a home similar to the one you are currently renting, for less than what you are paying in monthly rent.

For additional help in analyzing your decision, you may want to run some numbers in this rent vs. buy calculator or take a look at these additional calculators and tools.

And of course, feel free to contact me directly at (888) 891-7704, if you have any other Pennsylvania Mortgage related questions.

Via Fred Chamberlin - Eugene/Springfield's #1 Experienced FHA Mortgage Consultant:

All of us on Active Rain want the Real Estate market to turn around. We want to see homes selling. We want people to be taking out mortgages. But, we also want to have our clients well served by what we do and in this, I want to suggest Cash Flow as a method of determining suitability.

By this, I mean if you are a renter or have a renter for a client, is it really a good move for you and them to think of buying in this market. In many cases, the answer is yes. In some, the answer may be no.

So, how do you determine the cash flow of a home? One of the easiest tools is the rent vs buy mortgage tool. If you don't have access to one, feel free to give me a call and I would be happy to run the numbers for you. Today, I want to run a few numbers just to give you a clue about this process.

Let's assume the following (this would definitely be area specific):

Current rent - $1000 month

Comparable home price - $175,000

Normal yearly rent increase - 5%

Time horizon (3 or 5 years) - 5 years

Appreciation value of home - -1% per year (bad case scenario)

Tax bracket - 25%

Down payment - 3% (FHA)

Mortgage Ins. - .5%

Interest Rate - 6% (only as an example)

Property Taxes - $2,000

Insurance - $300

Using these calculations, your net difference (between average rent over 5 years and after tax mortgage payment) is $72 to the purchase side. Also, even with a negative appreciation, at the end of 5 years, you will owe less than the property is worth. The chance of the market being negative appreciation for 5 years would really surprise me. So, basically, you are getting the same home for less money per month.

Needless to say, if the price of the home goes up or the rent goes down, these numbers would reverse. But it really does make sense to see if it is worth owning your own home. Down payment makes a huge change in the calculations. Just remember, this is only an example, not final numbers for anyone.

Also, the main reason for owning a home is shelter. Investment value is great but for your personal residence, shelter is the number one reason for having a home.

Authored by Fred Chamberlin, a Senior Mortgage Consultant, Eugene/Springfield Oregon, 541-342-7576.

A Lesson in Tolerance - From a 14 year-old girl.

Above All Financial Services -Pennsylvania Mortgage Broker — Fri, 14 Nov 2008 01:20:49 -0600

I found an interesting article from the Chicago Tribune about political tolerance, and being respectful of other people's opinions and beliefs, especially when they differ from your own. It details an experiment done by a 14 year-old girl in a Liberal suburb of Chicago, who shows up for school one day wearing a T-shirt supporting John McCain, and the next day wearing a T-shirt supporting Barack Obama. Surprisingly, the reactions to her T-shirt from her classmates are not very different than would some of us experience in the adult world or while blogging in the political forums here on ActiveRain.

On the first day of her experiment, wearing a McCain shirt, the student was called among other things "stupid", told she should be "burned with her shirt on" and branded a "filthy rich Republican". The next day, while donning her Obama shirt, the very same student was told that the students liked her shirt, she was no longer stupid and had "put the right shirt on" that day. The reporter asks the student's teacher "whether it was ironic that she would be subject to such intolerance from pro-Obama supporters in a community that prides itself on its liberal outlook." The teacher agrees that those who are supporting a candidate that promotes equality and inclusion, should not have behaved in such a manner. Everybody learns a great lesson... I guess until they become adults and start acting the same way

This article deals with children - in middle school - but the funny thing is that the very same intolerance and name calling occur here on a daily basis -in a community of professional adults! It surprises me how quickly some people are to call names or insult , when someone expresses an opinion that is different from their own, (or heaven forbid presents them with pesky facts that seem to contradict the other person's point) . Now some people are easily offended, and perhaps they should not be discussing sensitive subjects with strangers or potential business partners. The same can be said for those who result to middle school like name calling as well. In fact, those who resort to such tactics are really saying more about themselves than the person they are trying to put down.

Now I know that some people don't think that political discussions have any place on a Real Estate networking site. They think that you run the risk of alienating 50% of the people who read your blog or comments, since they may have a different political view from your own. I don't agree. For every person who doesn't want to shop for a mortgage or refer a customer in need of small business financing to me because they disagree with me politically, there is someone else who will shop for a mortgage or refer a client to me because we do see eye to eye (of course there are some people who don't care either way which political party you support as long as you give them the best deal). But I do think that if you want to discuss topics such as politics and grow your business at the same time that you should leave the name-calling, schoolyard insults, uninformed opinions, and intolerance out of it. If this 14 year-old girl "get's it" and understands what tolerance is, then surely we should too.

Freedom of Speech or Inciting a Riot?

Above All Financial Services -Pennsylvania Mortgage Broker — Tue, 11 Nov 2008 23:55:19 -0600

Don't know how the MSM missed picking up this one. What do you think?

Via Tim Maitski "Secret Agent Guy":

Is it still legal in this country to voice an opposing viewpoint?

Is it only legal to voice that viewpoint to others who agree with you?

Is it legal to wear a political t-shirt into a crowd of people who support an opposing candidate?

If a mob intimidates a person who is wearing a t-shirt that they don't like, should the police defend that person's right to make his statement or should the police arrest the person in order to appease the angry mob in order to keep a riot from starting?

How big of a mob does one need in order to have the police help you shut up an opposing viewpoint?

Should a person wearing an Obama t-shirt be arrested if he attended a public McCain rally?

These are a few questions I had after I watched this video. It's making me do a lot of thinking.

Small Business Loans Down 30% from Last Year

Above All Financial Services -Pennsylvania Mortgage Broker — Sun, 09 Nov 2008 17:30:05 -0600

As reported on CNNMoney.com the number of small business loans for the Small Business Association (SBA) flagship lending program declined 30% for fiscal year 2008, which ended September 30. While the SBA doesn't directly fund loans it does guarantee a percentage of the loan as an incentive to banks to loan the money. Due to tightening credit standards and a worsening economy, the SBA backed only 69,434 loans in 2008 (down from 99,606 in 2007).

What is worse news for small business is that although the number of businesses backed by the SBA declined 30%, the actual dollar amount backed declined only 11%, meaning that although less loans were backed they were for larger amounts. This signifies that a greater number of loans backed by the SBA, were for larger established businesses (though still small businesses by definition). The tightening of credit standards seems to be affecting smaller businesses since most, larger, already established businesses may still be able to qualify for financing, albeit not as easily as in the past.

By contrast, the Merchant Cash Advance business is booming, as more small business owners seek to find alternate forms of financing. Contact us to see how a Merchant Cash Advance can help your small business succeed and get you the cash you need.

This article was originally published by Michelle Chamberlain, Pennsylvania Mortgage Broker on www.ezmerchantadvance.com/theblog.

Delaware County Theatre: Twelve Angry Men at Colonial Playhouse

Above All Financial Services -Pennsylvania Mortgage Broker — Sat, 08 Nov 2008 00:13:20 -0600

Reginald Rose's classic courtroom drama "Twelve Angry Men" opens this weekend at Colonial Playhouse in Aldan, PA. For those of you not familiar with it, "Twelve Angry Men" tells the story of a jury faced to reconsider its nearly unanimous decision during a murder trial, when one juror begins to try to persuade the other members not to convict based on reasonable doubt. The arguments get heated and the exchanges force all the jurors to confront their own prejudices, in order to render a fair decision.

The play runs on Friday and Saturday evenings at 8 PM, and Sunday afternoons at 2 PM through November 22. The shows stars local Delaware County residents and includes a theatre debut from Pennsylvania Mortgage Broker, Oliver Chamberlain as the guard.

Colonial Playhouse is a community theatre that has been entertaining Delaware County residents for over 68 years. It is located in Aldan at Ridley and Magnolia avenues, one block off of Oak. For more information visit www.colonialplayhouse.org or call (610) 622-5773

How The Arab World Views Our Election Results

Above All Financial Services -Pennsylvania Mortgage Broker — Thu, 06 Nov 2008 01:27:01 -0600

Yesterday, I wrote a post in which I expressed my disappointment with the outcome of the election. My chief concern was that people voted based on emotions and not based on issues. Although I didn't mention it in my posts, one of the main concerns for me was the issue of National Security, and I thought that John McCain was better qualified infinitely more qualified to keep our country safe.

Someone left an interesting comment, and while my intention is not to single someone out, I think this person echoes the sentiments of many others who voted for Barack Obama and perhaps this thinking swayed their vote to his side.

"Al Qaeda would have loved to have McCain get in. With Obama being elected... all the terrorist's recruiting programs are now "out the window." If you wanted the end times to come... then McCain would make sense. With Obama in... we have taken away their target... meaning their excuse to label the US as a threat. Now with Obama not pursuing the policy of taking a pre-emptive strike... Now they have nothing to use as an excuse for recruiting new members."

The comment above represents exactly what our enemies wanted us to believe before the election, that radical terrorists viewed the US under an Obama administration as somehow less of a threat than under McCain, and that they would abandon their pursuits against US interests, were Obama to be elected. What are they saying today?

In an editorial, the Iranian daily Jomhouri-ye Eslami stated: "The most that that black man can do in the White House is to replace some of the staff and change some ceremonial procedures. He will never manage to change the structure of the American regime, which was established by capitalists, Zionists, and racists."

The paper added that President Obama would not bring change to the world, because both the Democrats and Republicans were party to the U.S.'s oppressive and interest-driven foreign policy. Therefore, it said, any changes that do occur would be tactical rather than strategic."

From The Saudi daily Al-Watan stated in an editorial: "There is no significant difference between Obama and McCain. They disagree only on the means to achieve America's chief goal, which is to rule for another hundred years."

From Sheikh Yousef Al-Qaradhawi : "Whoever thinks that the Democrats are less hostile to [the Arabs] than the Republicans should know that the number of Iraqis killed during the siege [of Iraq] by the Democrat Bill Clinton is twice as high as the number of [Iraqis] killed by the Republican [George] Bush."

Clearly some of us have been duped into voting for a candidate with no military or foreign relations experience, someone who was not the candidate of choice for somewhere around 75% of people in the military, under the pretense that our enemies would just leave us alone and we'd all be friends. Tsk, tsk. Didn't your mother teach you never to trust a terrorist? If the Arab world doesn't believe that "Change Is Coming", then why in the world should we???

Bank Turn You Down? We Offer Alternatives to Traditional Small Business Loans

Above All Financial Services -Pennsylvania Mortgage Broker — Wed, 05 Nov 2008 00:04:48 -0600