Your Mortgage Guy

Consumer credit balances rising again, watch out if you want to own a home!

2012-02-20T08:12:00.000-08:00

This article summary comes from Todd Ballenger, a friend and mentor of mine. We spend time every week focusing on trends that effect you as a future home buyer and those that already own a home:

From Moody's: "Consumer credit balances rose rapidly for a second consecutive month. The primary driver of the rise in credit remains the nonrevolving segment. Revolving credit appears to have broken from its holding pattern, as balances have increased in four consecutive months. Banks’ increasing willingness to extend consumer loans is boosting confidence to access credit. While recent growth cannot be sustained, the general pattern will be one of acceleration through 2012 as the recovery strengthens."
Overall, things are getting brighter, but under the covers we haven't solved a lot of problems that still need attention - play hard, play smart, manage your risk.

You Snooze You Lose

2011-08-25T04:51:00.000-07:00

Ran into an old friend, David, at a party last night. After the usual pleasantries the conversation turned to mortgages and interest rates. I shared with David how we can do a Zero Cost Refinance which would allow someone with an existing 30 Year Fixed mortgage at 5.875% to refinance into a 20 Year and maintain the same payment.

How significant is that? One of my clients will save almost $140,000 by refinancing. Where I come from we call that Money.

David commented that there is no rush after all the Fed has announced that they will keep rates down for the next two years. That sentiment is widely held - but not necessarily correct. The Fed is promising to keep overnight rates low. However, there is no guarantee that Mortgage Rates will remain low.

How do you decide? Simple. Figure out what you would save if you refinanced today. Decide if your savings are compelling enough to act. If they are, don't wait. There is greater risk that rates will rise than there is opportunity for lower rates. And, with a Zero Cost Refinance, you could do it again if rates do drop significantly.

Summit Funding Registered Mortgage Broker (NMLS #52081) New York State Department of Banking

Summit Funding Licensed Correspondent Mortgage Lender (NMLS #301151) New Jersey Department of Banking and Insurance

Summit Funding Inc, Your Mortgage Professionals Licensed Mortgage Broker (NMLS #84943) State of Connecticut Department of Banking

How Serious Are Your?

2011-07-22T15:41:00.000-07:00

I read a twitter post the other day by Debra Hoffman Brill: "Serious Buyers go out in this heat - and I'm there with them..."

That set me to thinking... If serious buyers go out in the heat, what do serious professionals do?

My first answer is that serious professionals stand by their work. What do I mean? I mean that professionals should be prepared to guarantee the quality of their work. I back my preapprovals with a $5000 Guarantee.

What do you do to show how serious you are?

Please check out my new site ...

2011-07-13T09:05:00.000-07:00

Financial experts estimate that only 40% of the people who should refinance have done so. For some, it is because they do not want to pay up front. Many do not realize that they can refinance at no cost. My new site, zerocostrefinance.com is intended to help people figure out of it would be possible for them to do so. Please take a look Here and let me know what you think.

81 Days and Counting

2011-07-11T04:54:00.000-07:00

Today you can get a 'High Balance' Conforming mortgage and borrow up to $729,750 in high cost markets.

Since Conforming loans generally have better rates than non-conforming loans, the 'High Balance' program has been helpful for many of my customers in New York,New Jersey and Connecticut.

These limits will ratchet down to $625k on September 30. Importantly, for anyone who plans to borrow more than $625,000, you must close on or before September 30. Do not expect an extension.

Want to read more? Here is a link to a WSJ article WSJ

On this Fourth of July ....

2011-07-04T09:51:00.000-07:00

Today, as we celebrate Independence Day, I feel a huge debt of gratitude to the servicemen who go in harms way to defend us and our liberties.

May God protect them and this wonderful country.

Markets Gone Wild

2011-07-01T11:36:00.000-07:00

Why is it that the Markets are reacting with ever greater volatility?

What do I mean? I follow the Mortgage Bond Market closely. The FNMA 4.0% Bond stood at 101.15 when the market opened on Monday (June 27). As of 1:45 on Friday the Bond is down to 99.72 - a drop of about 140 points. That's crazy!

Yes, I know that the Greek crisis has (sort of) resolved itself. And, I know that the stock market is having its best week in a year. And I know that QE2 (the Fed program to support the Bond market) came to a close yesterday. And I know that Chicago Purchasing Manager Index came in slightly hot. And I know that trading has thinned before the holiday weekend. And I know that some investors are being conservative before the long weekend...

I know all that. But, I do not believe that those news items explain the market volatility. I have my own theory. I believe that two factors are driving increased volatility across markets. I believe that 'Wall Street' is less successful at making 'honest' money by providing traditional investment banking functions and instead has focused on legal gambling. What will it take for regulators to take action to prevent 'Too Large to Fail' entities from betting our money on outrageous bets?

I also believe that there has been a huge increase in speculative investment - often by small investors. Just think of all those people who have invested in gold. These investors react emotionally to thin (and often late - see Wall Street, above) news.

For what it is worth, I am betting that we'll see Bond prices climb again - soon.
.

Why are (some) Homeowners having Payment Problems

2011-06-28T07:39:00.000-07:00

The top 3 reasons for housing payment distress:

Reduced Income
Too Much Debt
Unemployment

Behind these reasons there is one more: Lack of reserves.

Life is always throwing curve balls. However, 40% of Americans could not come up with $3,000 to cover an emergency. So, the number one defense is a plan.

Do you have a plan?

Do you have an adequate emergency fund?

Are the Largest Mortgage Lenders Throtling Housing Recovery?

2011-06-27T06:19:00.000-07:00

The WSJ reports that WSJ on Tighter Lending the top mortgage lenders are rejecting more home buyers than ever. Last year the top ten lenders rejected 26.8% of all applications up from 23.5% in 2009. This, in turn, is negatively impacting the already fragile housing market.

The article reports that some of the blame accrues to FNMA and Freddie, the two government-backed entities that ultimately set the standard for 90% of mortgage loans. These entities are placing ever tightening restrictions on lenders. (BTW, the article ignores the negative impact of 'Price Adjustors' imposed by FNMA and Freddie which can add two and a half points to the origination cost of a mortgage for a borrower with a 679 credit score putting down a twenty percent down payment.)

As I have previously stated, I personally find the 26.8% rejection rate appalling. My average approval rate is above 98%.

You be the judge: where should you send a client or friend that is looking for a mortgage for their home purchase or refinance?

The TwentyFirst CEntury Beckons: Wish me Luck

2011-06-24T15:29:00.000-07:00

June is turning into my technology month.

I am migrating my phones to a Voice Over Internet system (thank you Steve, Duncan and Brian.) Migration will take weeks as we must port our existing phone numbers over to the new company. I did get a chance to play today and was wowed by the system capabilities.

Next week sees the replacement of our existing firewall with the installation of an advanced firewall and security device. We'll ultimately be able to set up a rollover capability, so, when our cable goes down we'll switch to wireless internet.

Then the following week we are swapping email providers. Our new system will provide managed Exchange access (which will interface with my new phone system as well as allow secure mobile access.)

What are the odds I'll live through this without a nervous breakdown?

Dave

Is the housing market going down? Is the housing market going up?

2011-06-23T08:05:00.000-07:00

At a time when pundits are racing about predicting the future of the universe and other such, there is no dearth of published opinion about when, if ever, the real estate market will recover. My opinion: given all the pundits at least one will be right (at least for a short while.)

While they speculate, it may be helpful to remember that "All Real Estate is Local". So, if you want to know what your home is worth or where your market is trending, talk to the expert: your local realtor. BTW, it helps if you pick an excellent realtor. Find out who the best person is in your neighborhood. (Hint: it is probably not a part-time real estate sales person. Hint #2: it may well not be the realtor who spends the most on self-promotion)

Need help finding a great person to talk to? I have a huge network of great realtors and would be delighted to introduce you to people who I think are great.

Who is Afraid of September 30?

2011-06-22T09:49:00.000-07:00

In about 100 days, the legislation that forced FNMA and Freddie Mac to lend up to $729,750 (in certain markets) will expire to be replaced (as applicable) by High Balance limits.

Let me explain. Traditionally, lenders were able to offer mortgages at favorable terms on loan amounts up to the Conforming loan limits set by FNMA and Freddie Mac. Because FNMA and Freddie Mac stood behind these loans, the rates for the loans were better than other loans available in the marketplace. As a general rule, before the mortgage market imploded in 2008, rates for Jumbo loans were about 1/4% higher than otherwise comparable conforming loans.

After the market implosion, it became very difficult to obtain financing for these larger loans. So, Congress mandated that FNMA and Freddie Mac offer larger loans in higher cost markets. They created two limits: Temporary which expire September 30 and High Balance which will continue in effect.

Property Conforming High Balance Temporary

1 Unit             $417,000        $625,500         $729,750
2 Units            $533,850        $800,775        $934,200
3 Units            $645,300        $967,950        $1,129,250

4 Units $801,950 $1,202,925 $1,403,400

Importantly, loans with Temporary Loan Limits must close by September 30. Lenders will not be able to grant extensions for these loans beyond that date!

Your Mortgage Guy: How High Will Rates Go?

2011-06-21T05:22:00.001-07:00

Your Mortgage Guy: How High Will Rates Go?: "There is much fear these days about rates spiking once the economy recovers. You even hear 'Genius' economists are predicting rampant inflat..."

How High Will Rates Go?

2011-06-21T05:22:00.000-07:00

There is much fear these days about rates spiking once the economy recovers. You even hear 'Genius' economists are predicting rampant inflation and double-digit inflation. I believe they are wrong!

There used to be a saying that the Military is always preparing for the 'last war'. Well that is what these pundits are doing. The chart below demonstrates that inflation has been under control for the past twenty years. Odds are that even if inflation spikes, that spike will be short lived.

What does that mean for you? It means that mortgage interest rates are less likely to rise uncontrollably in the future. [We may, however, see periods of higher rates due to other factors, including liquidity.]

So you think you'll get approved for a mortgage ...

2011-06-15T05:45:00.000-07:00

According to a recent report, Half of All Mortgages Rejected , banks are rejecting about half of all mortgage applications.

Let me put that in perspective for you. I can tell you that I am batting virtually 100% on getting my clients loans approved. My peers in the mortgage professional world are doing about the same. So if half of all loans are getting rejected, it really means that 70 - 80% of all mortgages for borrowers who are not represented by mortgage professionals are being denied.

My advice: If you are purchasing a home or looking to refinance, work with a mortgage professional. Why? Because we do not get paid unless you get your mortgage, so, we'll tell you the truth. And, the statistics show that we do a better job than the banks.

all of my loans are

Will the Fed make it more difficult for women to get credit cards?

2011-06-14T13:38:00.000-07:00

Forbes reports that under new Fed regulations, banks will be prohibited from issuing credit cards to individuals who do not have income. Historically, credit card issuers were able to factor in household income when issuing credit cards. The new regulations require that banks consider only individual income in determining qualification for new credit. Why? Because the Fed wants to prevent students from piling up credit card debt that they cannot repay.

But, the 'law of unintended consequences' is unmerciful. The Regulations will also prevent many credit worthy people from obtaining credit cards. For example, it will become more difficult for some retirees to obtain credit - even if they have significant assets. More significantly, stay-at-home moms will find it almost impossible to get their own credit cards.

Forbes Article

How hard is it to cancel PMI

2011-06-06T05:57:00.000-07:00

No one likes to pay PMI. It is bad enough having to pay your mortgage every month. PMI - insurance required by lenders when a homeowner borrows more than 80% of the value of a home - which is of no (direct) benefit to the borrower, adds insult to injury. So, the quicker you can get rid of it the quicker you save.

Can you get rid of PMI? The good news is that under the Homeowners Protection Act of 1998, banks are obligated to terminate PMI when the mortgage balance falls below 78% of the original value of the home at the time the mortgage was obtained.

Is that all? No. Borrowers can also petition the mortgage holder to drop PMI when the value of the home rises. Admittedly, in our declining market this is happening less frequently. However, clients who buy a 'fixer-upper' may see real appreciation when the work is complete. We have assisted a number of our clients is getting the PMI waived - generally at least a year or two after they took out the mortgage.And, as the real estate market recovers (and it will recover) there will be opportunities to drop PMI in the near future.

Show me the papers!

2011-06-03T10:48:00.000-07:00

The Wall Street Journal reports that homeowners are successfully fighting foreclosure by demanding that banks produce evidence that they 'own' the loan. Link to WSJ Article

.Who is using Social Media?

2011-05-24T07:08:00.000-07:00

Are High Net Worth individuals using Social Media?

According to the American Affluence Center, only half of affluent individuals (average net income $333,000) are active on Social Media. Not surprisingly, participation declines with age. Surprisingly, it also declines with income.

Owners of smart phones and tablets are more likely to participate. Womern or more likely to be engaged than are men.

Where do you reach the affluent? LinkedIn is their social media destination of choice.

How real is the real estate recovery?

2011-05-19T06:00:00.000-07:00

When Will Real Estate Recover?

Yet another voice on the topic of recovery in the real estate market...

According to market research firm Harris Interactive...

Most people (54%) do not expect the US housing market to recover before 2014.
That represents a negative change of attitude: 66% of November 2010 respondents believed that real estate would recover before 2014.
Almost 40% of renters believe they never will buy a home

But remember, all real estate is local. In some markets, the recovery is happening now!

How much is your home worth?

2011-05-10T06:14:00.000-07:00

Build Your Own Housing Price Graph

Wanna figure out what your home is worth today?

Follow this link for a 'quick and dirty' estimate:

http://www.fhfa.gov/default.aspx?Page=86&Area=MSA&AreaID=35644&PurchaseQtr=2004Q1&ValuationQtr=2010Q4&Price=$500,000

I put in a house purchased for $500,000 in the first quarter of 2004, and asked for valuation today. It shows the house would have gone up to about $640,000, and regressed to about $572,000. If this were my house, I'd be up about $72,000, but down about $68,000 from the peak.

Troubles in ARM land?

2011-05-09T10:10:00.000-07:00

Mountain of Mortgage Resets

This graph from Casey Research shows the Case-Shiller 20-City index alongside the total unsecuritized ARMs that are resetting in that particular month.

You can see how the ARM Resets are phasing out to almost 0 by 2014, but you can also see we are about to spike again around May through the summer of this year. It will be interesting to see if the resets are at a low enough rate to allow home owners to continue to handle payments, or if they do in fact put more stress on house prices.

The real challenge is that most who qualified for these products originally can't qualify today, so they are 'stuck' with the resets. Fortunately today the rates are so low that the resets might not be painful, but if they reset to an amortizing payment they'll feel that transition from interest only. Also, if they reset to an adjustable payment, which most of these will, then if rates go up, and they will, we could see the ARM Reset impact felt in the future, as opposed to now:

Suzy and Jim got an 5 Year ARM Interest Only fixed at 5%, with an adjustment to Libor + 200, they adjust now and their rate is lower than than before, so they are excited. Their payment doesn't go down because they convert from an interest only to an amortizing, so in essence their payment is about the same BUT they are now paying principal. That's great. If 3 years from now the loan adjusts to 8%, and they can't refinance to a fixed now, they'll be stuck with an annually increasing payment and that might make the hangover from ARMs a few years down the road.

Americans believe Housing is Best Investment

2011-05-03T08:13:00.000-07:00

"The sharp five-year decline in housing prices has done little to shake the confidence of the American public in the investment value of home ownership, according to a new national survey by the Pew Research Center’s Social & Demographic Trends project."

Read Whole Report

Generational Financial Priorities

2011-03-24T07:47:00.000-07:00

A study of Financial Priorities and Optimism by Generation, not sure where this came from as it was emailed to me...
What I find interesting, is that Gen Y is back to the cycle of their Great Grandparents the Matures, where they want to simply live by 'managing income/expenses to live within means', and they are far more confident in their ability to do this, but isn't that part of youth?
Either way, the Gex X generation sought to live like their parents - the Boomers, but had to do so in many situations by using credit. Gen Y views the Gen X living beyond their means and decides to focus on living within their means, and the cycle of expansion and contraction continues. Wonder if there is a version of this playing out in the Government, but maybe with more denial.

IRS Tips for Deducting Charitable Contributions

2011-03-22T10:02:00.000-07:00

Issue Number: IRS Tax Tip 2011-57

Inside This Issue

Eight Tips for Deducting Charitable Contributions

Charitable contributions made to qualified organizations may help lower your tax bill. The IRS has put together the following eight tips to help ensure your contributions pay off on your tax return.

1. If your goal is a legitimate tax deduction, then you must be giving to a qualified organization. Also, you cannot deduct contributions made to specific individuals, political organizations and candidates. See IRS Publication 526, Charitable Contributions, for rules on what constitutes a qualified organization.

2. To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A.

3. If you receive a benefit because of your contribution such as merchandise, tickets to a ball game or other goods and services, then you can deduct only the amount that exceeds the fair market value of the benefit received.

4. Donations of stock or other non-cash property are usually valued at the fair market value of the property. Clothing and household items must generally be in good used condition or better to be deductible. Special rules apply to vehicle donations.

5. Fair market value is generally the price at which property would change hands between a willing buyer and a willing seller, neither having to buy or sell, and both having reasonable knowledge of all the relevant facts.

6. Regardless of the amount, to deduct a contribution of cash, check, or other monetary gift, you must maintain a bank record, payroll deduction records or a written communication from the organization containing the name of the organization, the date of the contribution and amount of the contribution. For text message donations, a telephone bill will meet the record-keeping requirement if it shows the name of the receiving organization, the date of the contribution, and the amount given.

7. To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete and attach IRS Form 8283, Noncash Charitable Contributions, to your return.

8. Taxpayers donating an item or a group of similar items valued at more than $5,000 must also complete Section B of Form 8283, which generally requires an appraisal by a qualified appraiser.

For more information on charitable contributions, refer to Form 8283 and its instructions, as well as Publication 526, Charitable Contributions. For information on determining value, refer to Publication 561, Determining the Value of Donated Property. These forms and publications are available at http://www.irs.gov or by calling 800-TAX-FORM (800-829-3676).

Does Money Buy Happiness? (or maybe life satisfaction)

2011-03-15T11:05:00.000-07:00

Does Money Buy Happiness? (or maybe life satisfaction)

Are you happy?

Are you satisfied?

What is the difference?

I guess happiness and satisfaction, like beauty, is in the eye of the beholder. Studies cited in the book Priceless, have shown that once basic needs are taken care of, it takes $4 in spending to generate $1 worth of incremental happiness. Meaning that the fulfillment curve gets steeper and harder to generate new excitement - the law of diminishing returns is always in operation.

This new study featured in the New York Times showed that the U.S. is about a 7 on the scales of life satisfaction, but we are one of the highest overall in terms of adjusted income.

Is there a correlation between money and happiness? I find that the basic needs keep shifting, and what used to be a luxury is now a necessity, it's called Lifestyle Creep. It happens so slowly you don't realize that the things you now consider a necessity are things you never dreamed of having 10 years ago...

And the Winner Is ...

2011-02-24T23:10:00.000-08:00

Don't you just love it when the Geniuses get it wrong?

I am introducing a Genius Award for those times when it becomes so obvious that the 'Experts' don't have a clue. This issues winners are the Economists at the National Association of Realtors (NAR) who seem to have overstated home sales for the last three years.

Inman News and the Wall Street Journal are reporting that NAR has systematically overstated Home sales since 2007. An outfit called Corelogic outed NAR after trying to explain the divergence of their data with data reported by NAR. Now, NAR and Corelogic track different data. NAR tracks data reported by Multiple Listing Services while Corelogic reports on sales recorded by County Clerks. So it is not surprising that the raw numbers differ. You would expect that the trends would be similar. However, in 2008 NAR reported a 5.7% drop in home sales vs Corelogics data showing a 10.8% drop. You can follow this link to see a graphic from the WSJ that demonstrates the divergence of the data: http://si.wsj.net/public/resources/images/NA-BK393_HOMEDA_NS_20110221184502.jpg

Who cares? You do if you are considering a home purchase. If the Corelogic data is correct, the pain in the Real Estate market will continue for longer that has been previously anticipated.

How Would You know?

2010-08-20T15:45:00.001-07:00

The Mortgage Bond gave back about 35 points today. That means that mortgage prices got slightly worse than they were yesterday.

Mind you, we are still at the best rates since the Kennedy administration... but, it got me to thinking. All week people have been telling me that rates are going to get better and better. one guy predicted (with great confidence) that the rates will drop by another percent because a 'guy told him it would'.

Me, I am refinancing. NOW! It could get better, it could get worse. I only know that my rate will improve enough that it makes loads of sense to act.

So, how will we know when rates have started to move up? We'll know when they are up and it's too late.

New FNMA Rules - they could void your transaction!

2010-08-09T07:19:00.001-07:00

When is a mortgage commitment not a commitment?

New FNMA rules regarding your client’s credit could trigger a rejection. FNMA's Loan Quality Initiative could affect your clients who are buying or selling a home. The new rules could result in the voiding of a mortgage commitment immediately prior to closing! Here is what you must know.

Under new rules issued as part of the Initiative, FNMA requires Lenders to make sure that they pick up any new debt incurred by the borrower prior to closing. As a practical matter, Lenders will be forced to rerun the borrower's credit report immediately (within about one week) prior to closing. If the rerun credit report manifests new debt or even recent credit inquiries, the borrower will be asked to explain the new facts and the loan will be sent back to underwriting. In the event your client incurred significant new debt, that new debt could push your client's ratios out of qualification. So, even if the loan had been approved previously, the loan would now be rejected.

Left undefined for now is what happens if the borrower's credit score change materially. Imagine that a particular program requires a 720 FICO score. Imagine further that your client had a 725 score which drops to 710 during this pre-closing credit rerun. Will the lender deny the loan on the basis of the new credit score?

The requirement for debt re-verification will adversely affect the time it takes to close a loan. Particularly in times like the present, when lenders are stretched due to high volume, the re-verification could add weeks to the time required to close a loan.

What can you do to protect your clients? Communicate the importance of managing their credit in the period immediately prior to closing. Advise them not to incur new debt before closing and stress the importance of timely bill payment during the stressful pre-move period.

We, at Summit Funding, have procedures in place to make your life easier. We already communicate to our clients the urgency of maintaining their credit through closing. And, we communicate with attorneys in instances where clients have borderline credit, so that the you can tailor the mortgage contingency language to the circumstances.

Contact: David Steinberg (NMLS #67325)
dave@summitfunding.com
800-281-1155
Summit Funding
Refer With Confidence ®
Registered Mortgage Broker (NMLS #52081) New York State Department of Banking
Licensed Correspondent Mortgage Lender (NMLS #301151) New Jersey Department of Banking and Insurance
Summit Funding Inc, Your Mortgage Professionals Licensed Mortgage Broker (NMLS #84943) State of Connecticut Department of Banking

Who Knows Three?

2010-07-30T14:27:00.000-07:00

What do you think of when you hear the number 3?

How about the rate on a Fifteen Year Fixed Rate Mortgage? Yup: the rates on 15 Year mortgages are below 4%

Then again, we could be talking about the rate on a 5Year ARM (fixed for 5 years and then adjusts annually) with rates in the mid-3's

The better question is "What three people do you know that should be refinancing now?"

Don't Miss the Boat

2010-07-29T11:57:00.000-07:00

Mortgage rates are now at the lowest levels in 20+ years. If you owe more than $300,000 and your mortgage rate starts with a '5' you should consider refinancing!

Your Mortgage Guy

Consumer credit balances rising again, watch out if you want to own a home!

You Snooze You Lose

How Serious Are Your?

Please check out my new site ...

81 Days and Counting

On this Fourth of July ....

Markets Gone Wild

Why are (some) Homeowners having Payment Problems

Are the Largest Mortgage Lenders Throtling Housing Recovery?

The TwentyFirst CEntury Beckons: Wish me Luck

Is the housing market going down? Is the housing market going up?

Who is Afraid of September 30?

Your Mortgage Guy: How High Will Rates Go?

How High Will Rates Go?

So you think you'll get approved for a mortgage ...

Will the Fed make it more difficult for women to get credit cards?

How hard is it to cancel PMI

Show me the papers!

.Who is using Social Media?

How real is the real estate recovery?

When Will Real Estate Recover?

Yet another voice on the topic of recovery in the real estate market...

According to market research firm Harris Interactive...

Most people (54%) do not expect the US housing market to recover before 2014.

That represents a negative change of attitude: 66% of November 2010 respondents believed that real estate would recover before 2014.

Almost 40% of renters believe they never will buy a home

But remember, all real estate is local. In some markets, the recovery is happening now!

How much is your home worth?

Build Your Own Housing Price Graph

Troubles in ARM land?

Mountain of Mortgage Resets

Americans believe Housing is Best Investment

Generational Financial Priorities

IRS Tips for Deducting Charitable Contributions

Issue Number: IRS Tax Tip 2011-57

Inside This Issue

Does Money Buy Happiness? (or maybe life satisfaction)

Does Money Buy Happiness? (or maybe life satisfaction)

And the Winner Is ...

How Would You know?

New FNMA Rules - they could void your transaction!

Who Knows Three?

Don't Miss the Boat