Welcome to my blog ~ Leisha Clure, Countrywide Home Loans

Use Your Tax REfund To Buy A Home

Leisha Clure (Countrywide Home Loans) — Mon, 05 Jan 2009 14:34:18 -0600

Tax Refund Due? This May Be The Opportunity You Have Been Waiting For.

Rates Are Low

Home Prices Are Low

The Government Has Instituted Tax Rebates For Most First Time Homebuyers*

Countrywide® offers home financing solutions so borrowers and their families can enjoy the many

potential benefits of home ownership, including the possibility of increasing value, the stability of

owning your own home, and potential tax savings1. If you are due a tax refund this year, you may even

be able to use it for down payment or closing costs. Countrywide has many innovative loan programs

that help break the "down payment barrier" to home ownership.

For a range of loans and unparalleled service and experience, call me today.

*Check With Your Tax Professional

Leisha Clure

Home Loan Consultant

Countrywide Bank, FSB

509-483-7049 Office

509-263-0397 Cell

509-443-3935 Fax

914 E Mission Avenue, Suite B

Spokane, WA 99202

http://www.SimplyBetterLoans.com

Leisha_Clure@countrywide.com

trying to raise bail money

Leisha Clure (Countrywide Home Loans) — Wed, 06 Aug 2008 22:11:57 -0500

Need to raise bail

Dear Friends and Colleagues,

I'm proud to tell you that I'm being locked up...that's right, I'm going behind bars to help Jerry's Kids© and MDA. To be released on good behavior I have to raise bail and I need your help! Any amount is greatly appreciated ~ it is a good cause and tax deductible!

All you have to do is click here to make a secure, online donation before 08/13/08. Your donation will help families living in our community and help guarantee me an early release. I can't wait to add you to my list of contributors.

Thanks in advance for your help. Don't hesitate to call or email me with any questions.

Together we'll make a difference,
Leisha

P.S. I'm counting on you, click here to donate.

If the link above does not work, please cut and paste the address below into the address bar of your Internet browser.
https://www.joinmda.org/spokanetelu08/Leisha_Clure/

Explanation:

This is an annual event here in Spokane (they also do it in other parts of the country) to raise money for MDA. It is a charity aimed at children with life changing medical problems. They do not actually lock you up anymore, they used to put you in a "cage" at the mall. Now it looks like we will be in a banquet room and until we raise bail or the day is over we do not go home. Here in Spokane the money goes mainly to fund things like the Shriners Children Hospital. To benefit area families affected by neuromuscular disease. With your help, MDA provides a comprehensive program of services including assistance with the purchase of wheelchairs and leg braces, support groups, clinic visits, diagnostic work and genetic counseling as well as a week-long summer camp program for youngsters with neuromuscular diseases.
Here is the link to learn more about the charity www.mda.org

Need to raise bail

Leisha Clure (Countrywide Home Loans) — Wed, 06 Aug 2008 22:03:44 -0500

Need to raise bail

Explanation:

locked up and trying to raise bail!

Leisha Clure (Countrywide Home Loans) — Wed, 06 Aug 2008 20:46:25 -0500

Need to raise bail

Leisha Clure (Countrywide Home Loans) — Wed, 06 Aug 2008 20:41:16 -0500

Need to raise bail

Leisha Clure (Countrywide Home Loans) — Wed, 06 Aug 2008 20:40:43 -0500

Explanation:

One Dollar Challenge For Jerrys Kids

Leisha Clure (Countrywide Home Loans) — Mon, 04 Aug 2008 13:01:10 -0500

Anyone Got $1.00 ??

I just signed up for this years "Lock Up" And I am challenging everyone in the real estate profession to dig out just one dollar and help these kids. The MDA and Jerrys kids have done some amazing things and it wouldn't be possible without generous donations from people like you. Imagine if we all gave one dollar what that would amount to and how many kids could be helped. A dollar doesn't buy much these days but it could sure add up if we each gave one. Thank you in advance for your time and donations to this awesome cause

Here is the link for secure donations and to read more about the cause.....

https://www.joinmda.org/spokanetelu08/Leisha_Clure

You can also send donations (through Thursday they should be reached on time) to

Leisha Clure

Countrywide Home Loans

914 E Mission Suite B

Spokane WA 99202

Anyone Got $1.00 ??

Leisha Clure (Countrywide Home Loans) — Mon, 04 Aug 2008 12:53:21 -0500

Here is the link for secure donations and to read more about the cause.....

https://www.joinmda.org/spokanetelu08/Leisha_Clure

You can also send donations (through Thursday they should be reached on time) to

Leisha Clure

Countrywide Home Loans

914 E Mission Suite B

Spokane WA 99202

I NEED YOUR HELP!

I'm going behind bars for "GOOD"
PLEASE HELP BAIL ME OUT!

Your donation is my key to freedom! Be proud of the fact that together we're providing help and hope to kids and adults served by MDA in our community.

Lending Law Updates ~ Brought To You By Leisha Clure Of Countrwide Home Loans In Spokane

Leisha Clure (Countrywide Home Loans) — Thu, 24 Jul 2008 22:25:16 -0500

New Loan Lending Rules Take Effect October 1, 2008

On July 15, the nation's central bank issued new lending rules which will take effect October 1, 2008. The rules will apply to all lenders, not just those regulated by the central bank.

"Rates of mortgage delinquencies and foreclosures have been increasing rapidly lately, imposing large costs on borrowers, their communities and the national economy," Federal Reserve Chairman Ben S. Bernanke said as he opened a meeting of the Federal Board, which approved the new rules.

The new regulations target the subprime mortgage market, which has been largely unregulated because the loans are secured and held by private investors. Subprime mortgages, designed to make loans available to borrowers with low incomes or poor credit, carry above-market interest rates to compensate investors for the added risk of default.

For subprime loans, the new rules will:

Prohibit lenders from lending to borrowers who cannot repay the loan from income and assets other than a home's value.
Require lenders to verify a borrower's income and assets.
Ban prepayment penalties for the first four years of any adjustable-rate subprime mortgage; other subprime mortgages could have no prepayment penalties for two years.
Require lenders to establish escrow accounts for property taxes and homeowner insurance for all first-lien mortgages.

For all mortgages, prime and subprime, the new rules will:

Prohibit seven misleading advertising practices, including representing that a rate or payment is "fixed" if it will change over the course of the loan.
Prohibit advertising in which different loans are compared unless all payments and rates are also disclosed.
Prohibit foreign-language mortgage ads in which required disclosures are presented in English.
Prohibit a lender from encouraging or coercing an appraiser to misrepresent a home's assessed value.
Require lenders to credit borrowers' payments on the day of receipt.
Prohibit so-called "pyramiding" of late fees.
Require a lender to provide a payoff statement within a reasonable amount of time.
Require a good-faith estimate of all loan costs and payments within three days of an application for any loan secured by a home's value, including home equity loans and refinancings of the original mortgage.

The rules "are intended to protect consumers while keeping credit available to qualified borrowers and supporting sustainable homeownership," Bernanke said.

Leisha Clure
Home Loan Consultant
(509) 263-0397 Cell
(509) 483-7049 Office
(509) 443-3935 Fax
WWW.HomemadeLoans.Com

Countrywide Home Loans- Buy Or Rent- Countrywide Home Loans Call Leisha @ 509-263-0397

Leisha Clure (Countrywide Home Loans) — Wed, 23 Jul 2008 16:02:36 -0500

Hello all and thanks for checking out my blog! There have been many changes to the local Mortgage Market this last year and we are glad to be thriving here at Countrywide. Thanks to all who have helped us to do so well! I hope this coming year will even be better. I am going to now devote my blog to the changes as they are happening and this will become an informational blog with updates as I get them. I hope this will be a more useful part of your life and/or business this way! The blogs to follow will generally be my educated opinion and are not to be taken as otherwise. Thanks and have a great year!

Here at Countrywide we offer professional, competent home loan services. We specialize in finding the perfect loan for your unique needs! We offer all types of financing, credit and buyers! We have experts in single family homes, multi unit investor loans, hard money, lot and construction, loans, debt consolidation, and more!

Call Leisha @ Countrywide 509-263-0397 or www.homemadeloans.com

Countrywide Home Loans- Countrywide Home Loans Call Leisha @ Countrywide 509-263-0397

Leisha Clure (Countrywide Home Loans) — Wed, 23 Jul 2008 15:58:03 -0500

My mission as your Loan Officer:

To Help You Find the perfect loan in combination with the perfect home for you and your family. I am not looking
just to close your loan, I strive to build a financial partnership for life. I always present myself in a professional
manner and hope to always be someone who's name you are confident to pass along to friends and family.
What you should know:

I work closely with everyone involved in your transaction ( Realtors, appraisers, closing agents,etc.)from start
to finish to ensure a smooth process. I am very proactive and upfront about the progress of your loan.
LINKS FOR BUYERS
School reports: school reports, statistics, demographics
Local information: local area info, statistics, events
Spokane Public MLS: Use MLS (multiple listing service) to find available homes in Spokane County
Local weather: forecasts, weather patterns, radars
Tax information: Spokane County Tax Records
How we will work together:

I will be upfront and professional at all times. I will notify you immediately every time there is an update on your
loan. I do have an online system that lets you watch the progress of your loan also. I do ask that you gather all
required documentation in a timely manner to ensure the fastest processing of your loan. Communicaton is the
key and I am always available to my clients!

www.homemadeloans.com
FOR SELLERS
My mission as your Preferred Lender:

To provide you with the tools and resources necessary for selling your home on your own. I offer buyer
screening. Many time buyers will want to buy a property and not know if they even qualify. Don't let people
waste your time in showing them your home, If they are not qualified. I can get their application processed and
send them back to you upon approval. This also helps to speed closing time. I also offer marketing help. Flyers,
online advertising and open houses are a great way to get the word out about your home. These services are
offered at no cost to you I ask only that you refer interested buyers to me.

Countrywide Home Loans Call Leisha @ 509-263-0397

Leisha Clure (Countrywide Home Loans) — Wed, 23 Jul 2008 12:23:49 -0500

Countrywide is committed to helping you find the right
mortgage product for your needs. We understand that every borrower
is different, and we offer a variety of products to meet your individual
requirements. We make the process of securing a mortgage simple
and straightforward by offering you the latest in financial tools that
enable you to make sound financial choices.

Countrywide Home Mortgage, prides itself on our service and commitment
to our borrowers. Whether you are a first time home buyer,
consolidating debt, making improvements to your home, or a savvy
investor; Homemade Mortgage, Inc will be there for you every step of
they way. We will be your lender today and tomorrow and provide you
the confidence to refer your friends and family
Call Leisha Today 509-263-0397

Countrywide Financial is proud to have become a wholly owned subsidiary of Bank of America Corporation. We have become America's leading home loan provider and we know with this position comes great responsibility to our communities and our customers. We are committed to responsible lending practices, meaningful community development initiatives and providing a broad suite of products. Combining the two companies will create unique opportunities that will build stronger customer relationships and deliver solutions that are more responsive to customers needs.

With nearly 40 years of experience in the mortgage business, Countrywide is committed to continuing to help customers achieve and sustain homeownership. Countrywide is very excited about the opportunities this merger will provide.

Open House Spokane Sunday April 6th 1-3 pm

Leisha Clure (Countrywide Home Loans) — Sun, 06 Apr 2008 00:51:39 -0500

2311 W 16th 2 bedroom 2 bath manufactured home in south hill park Very nice 1979 double wide manufactered home in Cascade Park a 55+ community only 5 minutes from downtown. This home has Cent AC, vinyl windows, a carport, deck and has been well taken care of. A must see Open 1-3 only $40,000 !!

2321 W 15th 3 bedroom 2 bath manufactured home on a .25 acre lot on the south hill. Very nice & spacious double wide 2001 manufactered home on a lot and 1/2. This home has 1568 sq ft, a deck, vinyl widows,cent A/C, pantry, master has walk in closet and much more. Plenty of room to add a garage/shop. All appliances stay. HURRY THIS WILL SELL FAST! Open Sunday 1-3 $148,000

Lsitings By Kathy Kiss Exit Real Estate Of Spokane 509-939-9148 click here to view my website

buying vs. renting and other money thoughts

Leisha Clure (Countrywide Home Loans) — Wed, 26 Mar 2008 14:02:19 -0500

Hello all and thanks for checking out my blog! There have been many changes to the local Mortgage Market this last year and we are glad to be thriving here at Homemade Mortgage. Thanks to all who have helped us to do so well! I hope this coming year will even be better. I am going to now devote my blog to the changes as they are happening and this will become an informational blog with updates as I get them. I hope this will be a more useful part of your life and/or business this way! The blogs to follow will generally be my educated opinion and are not to be taken as otherwise. Thanks and have a great year!

Here at HomeMade mortgage we offer professional, competent home loan services. We specialize in finding the perfect loan for your unique needs! We offer all types of financing, credit and buyers! We have experts in single family homes, multi unit investor loans, hard money, lot and construction, loans, debt consolidation, and more!

Home Warranties Add Value To Any Home

Leisha Clure (Countrywide Home Loans) — Wed, 26 Mar 2008 14:00:56 -0500

Everyone is always pushing for a home inspection on the purchase of a home. While I do agree that this is a useful practice and a good idea, I wonder why more professionals do not make consumers more informed about the benefits of a home warranty. A home warranty generally covers most of the items included in a home inspection but for a little more it will pay (minus a small deductible) to fix whatever goes wrong. A good home warranty will cover almost everything in the house as well ~ appliances, fixtures, & water heater. As often as I recommend these to homebuyers and homeowners, most people have never heard of such a concept. You can even pay an extra premium with most companies to cover things like the air conditioner and the septic tank! This is also a great tool for sellers. Buyers will feel more comfortable that if anything goes wrong in their new dream house it will be covered. There are even a few companies out there that will give you a free home inspection or a few extra months if you are a seller obtaining a warranty. You can also get discounts for seniors, military, and professional discounts. I hope you will be motivated to look deeper into the value of a home warranty in addition to your inspection, and feel the piece of mind that accompanies! Realtors ~ Home warranty agents can set you up with ad packages to help you get the word out about what they offer in their particular warranty and it will help you get your name out as a responsible customer oriented professional.

This is only my opinion and not endorsed in any way by anyone in particular. WWW.HOMEMADELOANS.COM

Great time to refinance! spokane home loans, low rates, debt consolidation, poor credit, self employed

Leisha Clure (Countrywide Home Loans) — Wed, 26 Mar 2008 13:59:15 -0500

People often ask "when is the best time to buy?" or "when should I refinance?"

The best time to get financing is simple:

When you find a house you like, are offered a loan that meets all of your needs and you can afford the payment, It is time!

I often hear "I want to wait for prices to come down" or "I heard that rates might go down, I think I'll wait and see" If you have found yourself saying this or something similar chances are your needs just were not met with what you were offered. Many "professionals" in this industry will just offer everyone the same scenario, it can be dissatisfying. The truth is that is an easy excuse, because if you think about it when prices come down, sellers aren't as negotiable and if you wait rates generally go up not down why risk it? I mean think about it if I really could accomplish all your goals, within your expectations, wouldn't you be happy? With all the changes every day, for many people the window of opportunity could be lost soon. The lenders continue to tighten lending guidelines, change income requirements, increase asset needs, and find ways to offset the ever lowering rates. So as rates get lower for most they are dramatically increasing for others with less than perfect credit history. Now there are still many programs out there for almost everyone, including self employed, poor credit, first time homebuyers, and even investors, but each day it seems the lenders are asking for just one more thing, or adding one new adjustment to the rate. At HomeMade Mortgage we Specialize in the Spokane market, and are commited to staying up to date with all the changes. We have been able to help many that didn't think they could get a loan, or thought debt consolidation wouldn't help. We are willing to take the extra time to look for the unique solution to your needs. We also offer free credit analysis, and help with improving your credit score!

WWW.HOMEMADELOANS.COM

What home loan is right for you?

Leisha Clure (Countrywide Home Loans) — Wed, 26 Mar 2008 13:56:32 -0500

What kind of loan program is best for you?

So what kind of mortgage is best for you? Fixed rate? Adjustable rate? Government loans? The truth
is, there is no one correct answer. Given the many different types of loans and term lengths, the
choice can be difficult. It is an extremely important choice and you can definitely benefit from research
before you make your decision. Some time and effort right now can save you thousands of dollars in
the long run. Your personal situation will determine the best kind of loan for you. By asking yourself a
few questions, you can help narrow your search among the many options available and discover
which loan suits you best:

· Do you expect your finances to change over the next few years?

· Are you planning to live in this home for a long period of time?

· Are you comfortable with the idea of a changing mortgage payment amount?

· Do you wish to be free of mortgage debt as your children approach college age or as you
prepare for retirement?

Your lender can help you use your answers to questions such as these to decide which loan best fits
your needs. Below is a general guideline that may be useful to consider when selecting the
mortgage for your home: WWW.HOMEMADELOANS.COM

Homemade mortgage, Home Loans, Spokane Home Financing, Refinance, Home Loans , First Time Home BUYERS, 0 Down Financing

Leisha Clure (Countrywide Home Loans) — Mon, 18 Feb 2008 19:40:33 -0600

Homemade Mortgage Inc. is a new company founded and staffed by mortgage professionals looking for a
better way to serve you the client. The small company is founded on deep beliefs of ethics, honesty, and the
need to build a lasting relationship with every client we come across.
Contact Information

Leisha Clure
Homemade Mortgage Inc.
509-263-0397
lclure@homemademtg.com www.homemadeloans.com

Loan Programs

Fixed Rate Mortgages The traditional fixed rate mortgage is the most
common type of loan programs, where monthly principal and interest
payments never change during the life of the loan.

Adjustable Rate Mortgages (ARM)
Adjustable Rate Mortgages (ARM)'s are loans whose interest rate can
vary during the loan's term. These loans usually have a fixed interest
rate for an initial period of time and then can adjust based on current
market conditions.

Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
Hybrid ARM mortgages, also called fixed-period ARMs, combine
features of both fixed-rate and adjustable-rate mortgages.

Interest Only Mortgages
A mortgage is called "interest only" when its monthly payment does not
include the repayment of principal for a certain period of time.

Components of an ARM
To understand an ARM, you must have a working knowledge of its
components.

Balloon Mortgages
Balloon mortgages have a note rate that is fixed for an initial period of
time, and then the remaining principal balance is due at the end of the
term.

Graduated Payment Mortgages
Graduated Payment Mortgage is a loan where the payment graduates
(increases) annually for a predetermined period (e.g. five or ten years),
and then becomes fixed for the duration of the loan.

What kind of loan program is best for you?
So what kind of mortgage is best for you? Fixed rate? Adjustable rate?
Government loans? The truth is, there is no one correct answer.

buying vs. renting and other money thoughts

Leisha Clure (Countrywide Home Loans) — Thu, 07 Feb 2008 14:31:48 -0600

6 Money Dilemmas (Part 3 of 3)

Of course, all that mortgage debt may be keeping you awake at night, especially if you are worried about losing your job or you're approaching retirement and hope to live on less. You'd be grateful to be rid of that major monthly bill sooner. In that case, prepaying your mortgage starts looking better. Remember, though, that by prepaying your mortgage, you are reducing your liquid assets. If you suddenly need money, it's easier to sell a mutual fund than it is to pull cash from your home, and you can always pay off your mortgage later with the money you invest now. The bottom line: Investing wins.

Buy a home or rent a home? You're relocating, or you're downsizing so you can harvest some real estate wealth. Do you buy right away or rent and wait out the housing bust? To get your answer, consider your monthly expenses, what you'd do with the profits from your old home if you didn't buy and your time horizon. If you plan to stay put for at least a decade, buying wins, even if your monthly cash flow is more flush with renting. Over time, rising prices reward home ownership.

Let's say you're 65 and own a $350,000 home in Edison, N.J., mortgage-free. You're moving to the warmer climes of Albuquerque, where similar homes go for $175,000. After commissions and closing costs on both sales, you'll net $152,000. Buy a fixed immediate annuity with that money, and you and your spouse will get $10,500 a year for life.

What if you instead decided to rent in Albuquerque? With the $329,000 you'd clear on the sale of your New Jersey home, you could buy an annuity that pays about $23,000 a year. Even after spending $6,500 a year more in rent than you'd pay in property taxes and upkeep, you'd be ahead by $4,250 a year after taxes. But if you had bought a home, you can cash in on any future price gains. If you stayed in the new house for 10 years, the price would have to increase by 3.3 percent a year for buying to beat renting (assuming you invest the extra money you would have spent on rent). That's a low bar considering that home prices nationally increased by an average of 6.4 percent a year between 1963 and 2005.

Owning, of course, has other benefits: knowing that you'll never be forced to move by your landlord; the freedom to redo your kitchen in any way that strikes you. Renting, however, can spare you the onerous upkeep that comes with maintaining a home. So, buying is best as long as you're confident you'll be staying put for several years.

Take Social Security early or late? Collecting Social Security at age 62 cuts your annual benefit by about 25 percent compared with what you'd get if you waited until full retirement age that's 66 if you were born from 1943 to 1959, or 67 if you were born in 1960 or later. To do the math, you need to consider whether you expect to live a long life. Say you've just turned 62 and qualify for $17,280 a year now or $23,772 at 66 (in today's dollars). Start early and you'll have collected $69,120 by the time you reach 66. Wait, and higher payments will make up for those missed years in 10½ years.

If you live until at least 76½, postponing your benefits was worthwhile. The odds are in your favor: According to the Social Security Administration, the typical 62-year-old man should live until 80½, while the life expectancy for a 62-year-old woman is 83½. When you collect a Social Security check at 62, however, that's $17,280 you won't have to withdraw from your IRA. Add in the extra tax-deferred growth (assuming 5 percent returns), and your break-even point moves out by three years to age 79½. Even then, odds are you'll live that long.

According to new research from Boston College's Center for Retirement Research, the best strategy for many couples is for the wife to take Social Security at 62 and the husband to wait. The reason is that men, on average, earn more and die younger. In this scenario, a wife would take her benefit at 62 and inherit her husband's larger check later.

Finally, waiting to take Social Security assumes you can. Forty percent of retirees are forced into early retirement through either downsizing or health issues. Get a more precise handle on your break-even age with the Social Security Administration's Quick Benefits calculator at ssa.gov/OACT/quickcalc/. The bottom line: If you're healthy and don't need the cash, wait.

By: Janice Revell, http://www.money.cnn.com/

Money Dilemmas ~ decisions for your future

Leisha Clure (Countrywide Home Loans) — Thu, 31 Jan 2008 15:56:56 -0600

6 Money Dilemmas (Part 2 of 3)

Won't your tax bracket drop once you're no longer working? Don't count on it. If you're just starting your career, you'll almost certainly be earning more in 40 years. Even if you're mid-career, you can't assume your tax bracket will plummet. With federal tax rates currently at their lowest levels in decades and the federal deficit growing, it's not hard to imagine Congress raising taxes between now and your retirement. Assume a lower bracket only if you're near retirement and know your tax rate will fall.

A regular 401(k) has one thing going for it: the up-front tax break, so you'll see your disposable income shrink if you switch to a Roth. But for the regular 401(k) even to come close to the Roth as a savings vehicle, you'd have to invest the extra cash that it put in your pocket. Would you? So, unless you are on the verge of retiring and know your income will drop, the Roth wins.

Lease a car or buy a car? With leasing, you always drive a shiny new car, and your monthly payments are lower. So why would you buy?

A new Toyota Camry will run you just under $27,000. Buy one and finance with a no-money-down, five-year loan at 6.9 percent (today's average), and your monthly payments will be $526. That's $31,560 over five years. Say you instead pay $1,000 up front for a five-year lease. Your monthly payment will be $415. At the end of five years, you'll have spent $25,900. So leasing wins? That's not the full story. If you buy a car, it'll be worth something once you've paid off the loan. Your Camry would fetch about $10,000 after five years, according to estimates by Edmunds.com. That cuts the out-of-pocket cost to $21,560.

What if you really want a new car? In that case, the gap narrows. Take out a three-year loan on the Camry and your monthly payments would spike to $821, for a total of $29,556. If your three-year-old Camry sells for $14,000, your net cost drops to $15,556. If you leased, though, your payment would be $485 a month, putting an extra $336 in your pocket compared with the loan. Invest that $336 in a money-market fund paying 4.5 percent, and you'd earn $589 after taxes in three years, assuming a 28 percent tax bracket. Factoring that in, your total lease cost would be $17,871.

Also, the Camry holds its value well. With models that don't, the manufacturer often sweetens the deal by inflating the car's assumed value at the end of the lease term. If you buy the same car, you won't make that much when you sell it, which could tilt the scales in favor of leasing.

Remember: Leases come with mileage restrictions, typically 12,000 miles a year. Plus, if you ding a leased car, you'll get dinged with fees. Over the long term, buying costs you less.

Prepay your mortgage or invest? When some extra cash comes your way, it's tempting to put it toward your mortgage. You'll save on interest and pay off your house earlier. Buying stocks, on the other hand, feels like a risky leap into the unknown, especially now.

Paying off your mortgage or any loan is an investment, and your return is essentially the interest rate on the loan. If you have 25 years left on a 30-year mortgage with a fixed rate of 6.2 percent and you deduct your interest payments on your taxes, you'll earn 4.5 percent by prepaying the loan (assuming you're in the 28 percent tax bracket). Now let's say you invest your spare cash in stocks instead. You'll pay a 15 percent tax rate on your long-term capital gains and dividends. So to beat the 4.5 percent return you'd get from prepaying your mortgage, you'd have to earn just 5.3 percent a year on your stocks before taxes.

The odds of your doing that over the 25-year remaining term of your mortgage are excellent: Historically, a portfolio of 80 percent stocks and 20 percent bonds has returned 7.5 percent a year after taxes. Paying down the mortgage earns you a risk-free 4.5 percent, as good as you'll do with Treasury bonds. True, and if you are investing for a near-term goal and don't want to take any risk, you can make a stronger case for prepaying your mortgage. But if you are investing for a goal that's more than a decade away, you can and should take more risk for a chance at a higher return.

Home Buying FAQ's common questions for a homebuyer

Leisha Clure (Countrywide Home Loans) — Thu, 24 Jan 2008 12:19:48 -0600

Q :	How do I know how much house I can afford?
A :	Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value. Give us a call, and we can help you determine exactly how much you can afford.

Q :	What is the difference between a fixed-rate loan and an adjustable-rate loan?
A :	With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.

Q :	How is an index and margin used in an ARM?
A :	An index is an economic indicator that lenders use to set the interest rate for an ARM. Generally the interest rate that you pay is a combination of the index rate and a pre-specified margin. Three commonly used indices are the One-Year Treasury Bill, the Cost of Funds of the 11th District Federal Home Loan Bank (COFI), and the London InterBank Offering Rate (LIBOR).

Q :	How do I know which type of mortgage is best for me?
A :	There is no simple formula to determine the type of mortgage that is best for you. This choice depends on a number of factors, including your current financial picture and how long you intend to keep your house. Homemade Mortgage, Inc can help you evaluate your choices and help you make the most appropriate decision.

Q :	What does my mortgage payment include?
A :	For most homeowners, the monthly mortgage payments include three separate parts: Principal: Repayment on the amount borrowed Interest: Payment to the lender for the amount borrowed Taxes & Insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.

Q :	How much cash will I need to purchase a home?
A :	The amount of cash that is necessary depends on a number of items. Generally speaking, though, you will need to supply: Earnest Money: The deposit that is supplied when you make an offer on the house Down Payment: A percentage of the cost of the home that is due at settlement Closing Costs: Costs associated with processing paperwork to purchase or refinance a house

What home loan is right for you?

Leisha Clure (Countrywide Home Loans) — Thu, 24 Jan 2008 11:56:41 -0600

· Do you expect your finances to change over the next few years?

· Are you planning to live in this home for a long period of time?

· Are you comfortable with the idea of a changing mortgage payment amount?

· Do you wish to be free of mortgage debt as your children approach college age or as you
prepare for retirement?

Pay it off or save your money

Leisha Clure (Countrywide Home Loans) — Thu, 24 Jan 2008 11:23:54 -0600

6 Money Dilemmas (Part 1 of 3)

As you invest your money, shop for a home or tackle any one of the many financial decisions you have to make over your lifetime, do you sometimes wish you'd paid more attention in math class? Do you find yourself having to "run the numbers" and wondering how? To help, we've taken six common financial quandaries and done the math for you. As you'll see, the solution isn't always black and white, and the "right" answer may depend on things that you can never know for sure, like your tax bracket in 2020 or how your investments will grow.

Emotional considerations may tip the balance. Even if the math favors buying stocks over prepaying your mortgage, say, you may simply sleep better being out of debt. So this guide will walk you through the caveats as well as the calculations. Come up with your best call.

Pay off a credit card or fund your 401(k)? You should do both. If you can't, pay off the plastic first. In an ideal world, you'd wipe out your costly debts and save for retirement. But in the real world, you may not have enough cash to do both at the same time. Of course, you must pay at least the minimum on your credit card every month. So the question is: Do you put the rest of your available cash in your 401(k) or devote it all to your credit card?

By paying off credit-card debt, you get a guaranteed rate of return equal to your interest rate (the average is 14 percent today). But if your employer matches your 401(k) contributions, that's a 50 percent return (assuming the typical 50¢-to-the-dollar match on the first 6 percent of your salary). Hard to beat. Or is it? The 50 percent match is a one-time gift; the 14 percent interest will compound every year. At some point the cost of that interest will overtake 50 percent. So if you have a big credit-card balance, attack that first.

Let's say you're deciding what to do with $250 a month. With a $5,000 credit-card balance at a 14 percent rate, your minimum payment is $125 a month. Suppose you put the rest in your 401(k). Because you don't pay taxes on that contribution, you can actually invest $174 a month (assuming a 28 percent tax rate). Keep paying $125 a month on your credit-card balance, and you'll need 55 months to wipe it out. But, if you earn 8 percent annual returns and get the standard 50 percent match, you'll amass $17,271 in your 401(k).

If you plow your entire $250 toward the credit card, you'll pay it off in just 23 months. Then you could devote all your spare cash to your 401(k). By the end of the original 55 months, you'd have $18,515 in your plan. The one-at-a-time approach beats splitting your money because 55 months of paying 14 percent interest outweighs the 50 percent match.

If your credit-card debt isn't that big, and you can pay it off in just a couple of years even if you split your cash, go ahead and fund both goals. You'll get the benefit of the 50 percent match. The bottom line: If you have a big credit-card balance, wipe it out before you open a 401(k).

Save in a Roth 401(k) or a regular 401(k)? Wish you could shelter your retirement savings from taxes, but you make too much to contribute to a Roth IRA? With the recent arrival of the Roth 401(k), you may have, or may soon be getting, a second chance at tax-free income. Grab it. With a traditional 401(k) you invest pretax dollars and pay taxes when you withdraw money; with the Roth you pay taxes on what you put in but nothing on your withdrawals. About a quarter of employers have rolled out this option, and a majority of plans will likely offer it by 2009. Unlike a Roth IRA, a Roth 401(k) has no income caps.

Let's say that you contribute the maximum of $15,500 to your 401(k) and you're in the 28 percent tax bracket. Assuming an 8 percent annual return, you'll end up with $72,245 tax-free in 20 years with a Roth. If you go with the traditional 401(k) instead, you'll also end up with $72,245 in 20 years, but you'll pay taxes on the withdrawals. At the same 28 percent tax rate, you'd be left with $52,016 you could actually spend. When you fund the traditional 401(k), however, you shelter $15,500 from taxes. But even if you invest that $4,340 tax savings outside your plan, you'd have to earn well in excess of 8 percent a year to equal your Roth total after taxes.

By: Janice Revell, http://www.money.cnn.com/

Mortgage Market Update

Leisha Clure (Countrywide Home Loans) — Mon, 21 Jan 2008 12:46:57 -0600

MM Recap for Jan. 21

Losses on Wall Street last week due to fears of recession, horrifying manufacturing data, weak economic reports and Fed chairman Ben Bernanke's plea to Congress to "enact a fiscal stimulus package" quickly, sent the equity markets reeling. Huge losses in stocks sent safe-haven buyers to U.S. Treasuries and prices soared while yields, which move inversely to price, plunged. This sent mortgage rates to their lowest levels in 30 months.

The big moves in Treasuries began Tuesday when retail sales in December fell to -0.4% from a 1% gain in November, stirring worries about consumer spending, which accounts for two-thirds of GDP. Next was the NY Empire State index on January manufacturing conditions, which unexpectedly fell to 9 from 9.8.

The producer price index in December was bond-friendly, showing a 0.1% decline caused by falling energy prices. The core rate, which excludes food and energy prices, rose 0.2%. This was good news for inflation watchers, and it got even better when the weightier consumer price index showed a 0.3% gain, but only a 0.2% rise in the core.

Housing news showed starts at their slowest level in 16 years. Housing starts plunged 14% in December to an annual rate of 1.01 million units, while building permits were down 8% to annual rate of 1.07 million. Starts are off 25% when compared to 2005.

The final blow to stocks and a major boost to bonds was the Philly Fed index of manufacturing conditions for January, which came in a shocking -20.9, the lowest it's been since October 2001. In a separate report, industrial production in December was flat but beat estimates, and capacity utilization edged down to 81.4 from 81.6.

The Fed's beige book, which looks at economic conditions in the nation's 12 bank districts, showed slow to slightly increased economic activity in most of the areas. In other reports, business sales in November rose 1.6% and are up 8.75 on the year, while inventories climbed 0.4%. And first-time unemployment claims fell by 21,000 to 301,000 for the week ended Jan. 13, the lowest since late September. The four-week average was down to 328,500. Nevertheless, analysts believe that the labor market is weakening.

Consumer sentiment rose for the first time since July, according to the University of Michigan. The index climbed to 80.5 from 75.5, with those surveyed satisfied with current conditions and somewhat confident about the future. In a separate report, the index of leading economic indicators, which looks at the economy three to six months ahead, pointed to weakness, coming in at -0.2%.

Low mortgage rates have certainly ignited applications to refinance, according to the Mortgage Bankers Association. Refis soared 43.4% during the week ended Jan. 11, just a little short of the 53.7% gain the previous week. Applications to purchase rose 11.4%.

There are only two reports due this week, and they both come out on Thursday. This, and the financial markets' Monday closure to observe the birthday of Dr. Martin Luther King, Jr., will give traders time to digest the spate of reports released last week.

Of the two indicators on tap, existing home sales for December should have the most impact. This report, put together by the National Association of Realtors, furnishes information on sales, median prices and inventories of homes for sales. Although analysts are predicting another decline -- to an annual rate of 4.95 million units -- there could be a surprise in store, as pending sales in November were strong. November sales came in at an annual rate of 5 million even.

The second and final report of the week is first-time unemployment claims for the week ended Jan. 18. Claims have been trending down, but this report bears watching in this post-holiday environment.

Great time to refinance! spokane home loans, low rates, debt consolidation, poor credit, self employed

Leisha Clure (Countrywide Home Loans) — Fri, 11 Jan 2008 15:58:41 -0600

People often ask "when is the best time to buy?" or "when should I refinance?"

The best time to get financing is simple:

When you find a house you like, are offered a loan that meets all of your needs and you can afford the payment, It is time!