mortgage chili blog: How To Clean A Gas Grill
- 04/05/11 01:53 AM
Whether you barbecue for friends or family once annually, or through all 4 Orlando seasons, it's important to keep a clean gas grill. A well-maintained grill will help your food taste its best -- no matter what you're cooking up.
Cleaning a gas grill is...
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How To Clean A Gas Grill
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mortgage chili blog: What Do Appraisers Look For When Determining A Property's Value?
- 04/03/11 05:20 PM
Most people are surprised to learn what appraisers actually look at when determining the value of a real estate property.
A common misconception homeowners generally have is that the value of their home is determined after the appraiser has completed their physical property inspection.
However, the appraiser actually already has a good idea of the property's value by the time they have scheduled an appointment to stop by the property.
The good news is that you don't have to...
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What Do Appraisers Look For When Determining A Property's Value?
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mortgage chili blog: How Does Your Work Commute Compare To Other Cities?
- 04/03/11 05:16 PM
As part of the Census Bureau's data collection activities from 2005-2009, a number of interesting charts have been published at http://census.gov.
The data should not be....
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How Does Your Work Commute Compare To Other Cities?
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mortgage chili blog: Lock Now? Friday's Job Report Expected To Push Mortgage Rates Up.
- 04/03/11 05:10 PM
Friday is a pivotal day for mortgage markets and conforming mortgage rates across Florida. At 8:30 AM ET, the government will release its March Non-Farm Payrolls report.
More commonly known as "the jobs report", the monthly Non-Farm Payrolls is a market-mover and home buyers would do well to pay attention. Depending on....
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Lock Now? Friday's Job Report Expected To Push Mortgage Rates Up.
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mortgage chili blog: January 2011 Case-Shiller Index : Weak And Flawed
- 04/03/11 05:05 PM
Standard & Poors released its Case-Shiller Index for the month of January this week. The index is a home valuation tool, measuring the monthly and annual changes in home prices in select cities nationwide.
January's Case-Shiller Index gave a poor showing. As compared to December 2010, home values dropped in 19 of the Case-Shiller Index's 20 tracked markets. Only Washington, D.C. gained. The results were only modestly better on an annual basis, too.
18 of 20 markets worsened in....
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January 2011 Case-Shiller Index : Weak And Flawed
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mortgage chili blog: Directions and Tips for the Half Day Event
- 03/30/11 01:19 AM
For some, finding this spot, "off the beaten path" will be tougher than ......
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Directions and Tips for the Half Day Event
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mortgage chili blog: Pending Home Sales Rebound; Suggest Brighter Spring For Housing
- 03/30/11 01:11 AM
On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month, according to the National Association of REALTORS®. A "pending home sale" is defined as a home under contract to sell, but not yet closed.
February's Pending Home Sales Index rebound breaks a 2-month losing streak, and reverses the recent downward momentum in housing. Both Existing Home Sales and New Home Sales volume showed a.....
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Pending Home Sales Rebound; Suggest Brighter Spring For Housing
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mortgage chili blog: Water Conservation Tips For Your Home And Garden
- 03/29/11 01:55 AM
According to the EPA, the average U.S. household spends close to $500 each year on water and sewage bills. But by making just a few small changes, that figure could drop by as much as $170 annually. It's all in how you use your water.
In this 4-minute video from Lowe's, you'll learn basic water conservation techniques that you can immediately put to work..
Some examples:
Don't rinse food from dishes before putting them in a dishwasher. Scrape the dishes instead. When brushing your teeth or.......
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Water Conservation Tips For Your Home And … (2 comments)
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mortgage chili blog: 15-Year Fixed Rate Mortgages Look Cheap Compared To Comparable 30-Year Fixeds
- 03/26/11 01:06 AM
It's a great time for Lake Mary buyers and homeowners to look at the 15-year fixed rate mortgage.
According to Freddie Mac's weekly Primary Mortgage Market Survey, the relative "discount" of a 15-year fixed rate loan as compared to a comparable 30-year product is the largest in recorded history. The interest rate spread between the two benchmark products is now 0.77%, nearly double the recent, 5-year average of 0.44%.
Despite its lower rates, however, homeowners that opt for a 15-year fixed mortgage should be prepared for higher monthly payments. This is.....
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15-Year … (2 comments)
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mortgage chili blog: New Home Sales Fall To All-Time, Recorded Low. Maybe.
- 03/25/11 12:38 AM
Sales of newly-built homes plunged 17 percent to an seasonally-adjusted, annualized 250,000 units in February, and the supply of new homes rose to 8.9 months in February -- a 1.5 month jump from January.
It's the lowest New Home Sales reading in recorded history, according to the Census Bureau, and the third straight report to signal that home values may be slow to...
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New Home Sales Fall To All-Time, Recorded Low. Maybe.
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mortgage chili blog: 10 U.S. Cities With The Steepest Rent Increases (2010)
- 03/23/11 11:40 PM
Home sales data is easing so far in this calendar year. Home resales and new construction have dropped to multi-month lows and, in many cities, home supplies are rising. One housing sector that's not slowing, however, is rentals.
The rental market is booming.
As reported by the Wall Street Journal, the average apartment vacancy rate is 6.6% nationwide, down from 8.0% last year. In addition, the number of...
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10 U.S. Cities With The Steepest Rent Increases (2010)
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mortgage chili blog: Existing Home Sales Unexpectedly Drop In February
- 03/23/11 01:26 AM
Existing Home Sales fell 10 percent last month, according to a report from the National Association of REALTORS®.
On an annual basis, 4.88 million homes were sold in February -- the first time annualized home resales dropped below 5,000,000 since November 2010.
An "existing home" is one that's not considered new construction.
And it's not just sales volume that's down. Home inventory is higher, too. At the current pace of sales, the number of...
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Existing Home Sales Unexpectedly Drop In February
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mortgage chili blog: Get That Last Drop Of Ketchup (And Other Household Money-Stretchers)
- 03/22/11 01:24 AM
According to Consumer Reports, Americans waste as much as 25% of the products they purchase. From food to pharmaceuticals, pesky packaging is making it hard for consumers to use "the last drop" of the things they buy and, as such, products are thrown out prematurely.
It doesn't have to be that way. Using household tools and basic.....
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Get That Last Drop Of Ketchup (And Other Household Money-Stretchers)
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mortgage chili blog: Is a Florida VA Mortgage Loan right for me?
- 03/21/11 01:39 AM
I am frequently asked, "what is the best loan for me?" While for many -they are a ton of variables... if you are a veteran the answer is quite simple. Get a Florida VA guaranteed home loan - its the preferred loan program for active, non-active, Reserve, National Guard, and retired military of the armed forces because there is no down payment needed and no private monthly mortgage insurance required.
VA mortgage loans can be used towards purchasing a home, building a home, or refinancing an existing mortgage.
We will discuss what role the VA plays in a VA guaranteed mortgage, … (0 comments)
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mortgage chili blog: Who Owns My Home If I Have A Mortgage?
- 03/21/11 01:33 AM
Many borrowers believe that when they purchase a property by obtaining mortgage financing, they also own their home.
Technically speaking, full ownership on a property only happens once the mortgage loan amount has been paid in full.
To break this down in more detail, there are a few components of a mortgage:
A Promissory Note is a document signed by the borrower acknowledging their commitment to pay the mortgage back with interest in a specific period of time.
In addition to the terms of repayment, the Note also contains provisions concerning the rights of both parties involved in the agreement.
In … (1 comments)
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mortgage chili blog: Homebuilders Expect More Sales Volume This Year
- 03/17/11 08:31 PM
Homebuilders are optimistic about the housing market this spring, relative to recent months.
According to the monthly Housing Market Index as published by the National Association of Homebuilders, after 4 straight months of reading 16, March homebuilder confidence ticked 1 point higher to 17.
It's the highest confidence reading in 10 months.
A value of...
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Homebuilders Expect More Sales Volume This Year
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mortgage chili blog: A Simple Explanation Of The Federal Reserve Statement (March 15, 2011 Edition)
- 03/16/11 01:21 AM
Today, for the second straight meeting, the Federal Open Market Committee voted unanimously to leave the Fed Funds Rate unchanged within its target range of 0.000-0.250 percent.
The vote was 10-0.
In its press release, the FOMC noted that since its January 2011 meeting, the economic recovery "is on firmer footing", and that the labor markets are "improving gradually". In addition, household spending "continues to expand". Nonetheless, the Fed said, the economy...
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A Simple Explanation Of The Federal Reserve Statement (March 15, 2011 Edition)
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mortgage chili blog: Your Mortgage Rate Strategy For Today's FOMC Meeting
- 03/16/11 01:15 AM
The Federal Open Market Committee meets today in Washington D.C. The FOMC is a special group within the Federal Reserve, led by Fed Chairman Ben Bernanke, and consisting of 12 members.
The FOMC's official schedule calls for 8 meetings annually at which it reviews the nation's economic and financial conditions, and chooses whether to change existing monetary policy.
The group's last rendez-vous was a 2-day affair, January 25-26, 2011.
Today's FOMC meeting represents a.......
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Your Mortgage Rate Strategy For Today's FOMC Meeting
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mortgage chili blog: Get Your Spring Cleaning Checklist
- 03/14/11 11:26 PM
The calendar has turned March in Lake Mary and warmer weather is around the corner. Get ready for Spring Cleaning Season.
For households in which Spring Cleaning is an annual ritual, this helpful checklist from MarthaStewart.com makes sure no job gets left behind.
From the smallest of chores to
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Get Your Spring Cleaning Checklist
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mortgage chili blog: Do I Have To Continue Making My Mortgage Payment If My Lender Goes Bankrupt?
- 03/14/11 01:06 AM
When mortgage lenders go out of business and are essentially taken over by the FDIC, homeowners are left wondering if they still need to make a monthly payment.
Great thought, and a very common question for many borrowers in the 2006-2010 timeframe.
The short answer is YES, you still have to continue making mortgage payments if your current lender files for bankruptcy or disappears over the weekend.
In order to give a more thorough answer to this popular topic, we'll need to address the relationship between mortgage loans as liens and mortgage servicers who make money by handling payments.
To … (2 comments)
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