lake stevens: USDA is adding mortgage insurance - 06/02/11 11:51 AM
USDA Loans Will Have Monthly Mortgage Insurance as of October 1, 2011What Does This Mean To You?
USDA Rural Development and its loan program were designed to help improve the economy and quality of life throughout rural America. The program continues to remain a wonderful option for qualifying homebuyers, with zero down payment required.But a change is coming!Beginning October 1, for the first time in the history of USDA, the Single Housing Guaranteed Loan Program will have an annual fee. This fee will be calculated based on the guaranteed loan amount and based on the average annual scheduled unpaid principal … (0 comments)

lake stevens: Super Conforming loan limits to expire Sept 30. - 05/27/11 11:31 AM
Over the last few years, the government has funded mortgages as large as $729,750 in high-cost areas throughout the country. Those loan limits were temporarily increased because the economy was struggling and many lenders would have refused to make those loans without the government covering the risk of default. But now those loan limits are due to expire in just a few short months, on September 30, 2011. So, why is this a big deal? Mortgage rates are typically much lower when they are supplied through Fannie Mae and Freddie Mac. When these loans are no longer allowed under Fannie Mae … (0 comments)

lake stevens: HUD does it again - 02/16/11 07:22 AM
Can you believe it?  HUD announced today that starting April 18th the mortgage insurance on FHA loans will go from .9 to 1.15% for it's monthly mortgage insurance.  They recently bumped it up from .55 to .9 monthly and now they are raising it again.  This will make the monthly payments for this great first time homebuyer program go up and less will quallify.  This makes no sense at all!
If they want to do something that actually helps the market why not have a program that allows people who make their payments on time and have income to support those … (0 comments)

lake stevens: Get inside the mind of the consumer; Websites every realtor needs to know - 12/01/10 04:31 AM
Studies indicate that over 80% of today's home buyers visit the Internet long before seeking the professional assistance of a REALTOR®. This means that, thanks to popular realty-themed websites that compete for your business, your clients are already armed with more information than ever before.That's why today's savviest real estate agents must change their perspective and fight back. And the best way to do this is to visit and become familiar with these kinds of sites and the features they offer. This data will not only prepare you to answer any questions your clients might have, it will allow you to … (2 comments)

lake stevens: The Art of Database Management - 11/30/10 04:10 AM
Most of us are sales people when you get right down to it. Our job is to sell our services - and ourselves - as we strive to add more clients to our existing book of business. The unfortunate fact is that most of us are in such a hurry to sell our services that, in the process, we forget to do the most important thing relative to sales. Remember the quote from Bill Gates? The most important thing we can do is gather as much information as possible and understand what our customers need. From there, we can construct a … (1 comments)

lake stevens: Stop Paying your Landlords Mortgage!!! - 11/22/10 03:59 AM
It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, then over the next three years, your property management company will effectively have reaped $36,000 of your hard earned cash! You're paying their mortgage when you could be building equity in your own property.What if I don't have the money to buy a home right now?There are many loan programs available that offer low and no down payment options. Some programs permit gift money as a down payment, and often … (2 comments)

lake stevens: Be the Gate Keeper...take control of the lead - 11/19/10 04:25 AM
The Law of The Gate Keeper states: The business professional that refers out the most business will create the most reciprocal referral relationships in return. Translation: The business professional who controls the lead WINS!Regardless of your vocation, there will always be other business professionals that you should seek to align yourself with because they represent a potential increase in business for you through referrals. The easiest way for you to develop relationships with the people you want to work with is to start off the relationship by referring new business to them. This is The Gate Keeper concept in its truest … (0 comments)

lake stevens: Recycling with a Payoff - 11/18/10 06:23 AM
It's safe to say that recycling plays a significant role in most of our lives, and is very rewarding when we consider the ecological impact we collectively produce by our efforts to recycle, reduce, and reuse. But, what if I told you that "going green" could be financially rewarding as well? The following are some easy ways to make a little "green" for yourself, just for doing the little things you already do to lessen your ecological footprint. Like Money in the Bank In some states, RecycleBank.com is changing the way we take out the trash. This company takes the recyclables … (0 comments)

lake stevens: Get to the IRS on Time: Even If You Can't Pay - 11/15/10 05:19 AM
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lake stevens: The Four Steps To Properly Setting Goals - 11/12/10 07:28 AM
First, set a positive goal for yourself. "I will save to buy a home" is a positive goal, while "I will not spend money" is a negative goal. By focusing on the positive, you'll quit spending money because you'll be so focused on your goal that you won't notice you've stopped spending money.Second, set a date for achieving your goal. A goal is not a goal until you set a date for it. So set a date for achieving your goal, and make sure your date is attainable. If it's not, you'll become discouraged and quit. But don't set a date … (2 comments)

lake stevens: Five Tax Breaks Every Homeowner Should Know - 11/08/10 04:40 AM
Five Tax Breaks Every Homeowner Should Know  
Benjamin Franklin once said, "In this world nothing can be said to be certain, except death and taxes." More than 200 years later, this certainly holds true. And while being a homeowner won't add years to your life, the modern tax code has a number of benefits certain to make your tax bill lower. The following are a few ways your CPA or Tax Preparer can help you save: Take an interest in your mortgage interest - Statistics show that only about half of homeowners claim this valuable deduction. Make sure you're one … (0 comments)

lake stevens: 9 Rules to follow when applying for a home loan - 11/05/10 09:58 AM
Lenders get very cautious when your life circumstances change during the period between applying for a mortgage and closing on it.  Here are some rules that you should follow during those critical weeks:
Rule 1:  Do not change employers, become self-employed or quit your job
Rule 2:  Do not take on a long-term debt such as buying a car, boat RV or furniture
Rule 3:  Do not overly use your credit cards or let your accounts fall behind
Rule4:  Do not spend any of your cash reserves (you will need enough set aside to cover closing costs)
Rule 5:  Do not … (0 comments)

lake stevens: Tick Tock Tick Tock, It's time for a home loan checkup - 11/01/10 05:14 AM
They say that home is where the heart is. Yet do you know that a mortgage is the heart of every good financial plan? Making sure you've got the right one can save you a ton of money, along with creating wealth and financial health for your family. And with home loan rates near historic lows, now is the perfect time for a home loan check up.
When it comes to determining if your mortgage is still the right one for you, some important factors to consider include the type of loan (or loans) you currently have, your current loan balance, … (0 comments)

lake stevens: USDA 100% Financing!! - 10/28/10 06:54 AM
 
USDA HOME LOAN GUIDELINES
Sometimes good credit and a steady income arenot enough to qualify for a home loan at a commerciallending institution such as a  mortgage company.More rural families and individuals may be eligibleto become homeowners with the help of aUSDA guaranteed home loan. When the federalgovernment agrees to guarantee a loan, lendinginstitutions can help buyers while incurring lessrisk. Through USDA's Guaranteed Rural HousingLoan Program, low- and moderate-income peoplecan qualify for mortgages even without a down payment.Guaranteed Rural Housing LoansTo be eligible, applicants must:Have an adequate and dependable income;Be a U.S. Citizen, qualified alien, or be legallyadmitted to the … (0 comments)

lake stevens: USDA Loans For 1st time homebuyers - 10/25/10 07:13 AM
USDA Loans are great for the first time home buyer!  Zero down, good quality home and no out of pocket closing costs.  When applying for a USDA Loan, rent VS owning here are a few things that should be talked about. 
Renting you have to do 1st last and deposit, (if you have a pet, add that deposit on the total as well).
This is a TRUE ZERO DOWN PROGRAM.  It is cheaper than renting.
A USDA loan in 100% financing and the closing costs can be rolled in. There are income limits and the property must be outside the city limits.  I … (2 comments)

lake stevens: Everything that Americans Once Knew About Home Mortgages — But Should Ask - 10/20/10 05:50 AM
Americans are discovering the concept of foreclosure and the loss of a home in a very real and disturbing way.  Despite the rhetoric from Washington and sensationalist media, the process of resolving defaulted mortgages is moving ahead, one reason why the U.S. will not be Japan.  But we have all forgotten the experiences of the 1930s when it comes to home foreclosure.
We seem to be moving from voluntary foreclosure moratoria put in place by banks for public relations purposes in 2010 to unilateral state law foreclosure moratoria like those put in place during the 1930s in 2011.  States such as … (0 comments)

lake stevens: Pitches to fix bad credit to be a scam - 10/19/10 05:39 AM
By Michelle Singletary
Every day, consumers pay untold sums to companies that promise a quick credit fix. Most of the time, that money is wasted.I understand why these offers might seem so enticing. Good credit can get you much better interest rates for a car or home loan. A bad credit history can leave you stuck with loans carrying high rates and other onerous terms. In some cases, bad credit can even cost you a job.But make no mistake about it. While there are some legitimate credit-repair companies, many of the claims you hear advertised are usually false and a con … (2 comments)

lake stevens: Understanding the Credit Crunch in Lending - 10/18/10 07:30 AM
The media has coined the phrase "Credit Crunch".  Most people that I talk to have no idea what this is or what it means.  All they see is on every news station that more lenders are going bankrupt or cutting programs.  What I will attempt to do here is explain what happened and how it affected our markets.  But first I need to take it back a few years and explain a bit about the system.
We will start about 3 years ago.  Appreciation of homes in the nation was growing rapidly.  I will use some very conservative figures and say … (0 comments)

lake stevens: 10 Things We Over Pay For - 10/08/10 05:38 AM
Does the avalanche of news about layoffs, business losses and a declining stock market have you looking for ways to cut your spending so you can beef up your savings? We're here to help, with suggestions for less-expensive alternatives to ten everyday purchases (for more ideas, go to www.BillShrink.com, which tracks cell-phone plans and credit cards).
Afternoon snacks. Do you munch protein bars as a healthier alternative to a chocolate pick-me-up? You could easily be paying more than $2 per bar and consuming just as much sugar as you would with your favorite candy bar. Stock up on fruit for a … (0 comments)

lake stevens: Renters Have Much to Gain by Pursuing Home Ownership - 10/07/10 06:00 AM
Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.
 Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you're helping them make their mortgage payment.
 The numbers are staggering if you look at it this way. If … (2 comments)