All articles in Tips for Home Owners

4 Tips for Reducing Energy Bills in Winter

Thermostat-frozen[1]It’s a fact, heating your home requires more energy than cooling it. Because winter tends to be milder in the South, when the mercury falls, people here tend to really crank the heat up.

Here are 4  time tested means to reducing your energy consumption this winter: Continue reading 4 Tips for Reducing Energy Bills in Winter

FAQ – What is a ‘Qualified Mortgage’?

faq

The new federal agency Consumer Finance Protection Bureau’s  (CFPB) Qualified Mortgage & Ability To Pay  (ATR) regulations require mortgage lenders in Raleigh and Cary and all other US markets to clearly establish and document a borrower’s ability to be expected to repay the loan they have agreed to make, as well as to meet certain rules to be classified as a Qualified Mortgage. Continue reading FAQ – What is a ‘Qualified Mortgage’?

New Mortgage Escrow Rules for January 2014

New Mortgage Escrow Rules for January 2014

Nearly three years after passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act ,  a response to the mortgage crisis of 2007-2008 that has left millions of Americans licking their financial wounds from foreclosures and short sales; new escrow rules are published today that will go into effect January 1, 2014 and will  impact those who have a “higher-priced mortgage loan”. Continue reading New Mortgage Escrow Rules for January 2014

Deep Fried Turkey Safety Tips

Char-Broil Easy Turkey Fryer

It’s hard to believe that it’s already that time of the year already.  However given that I waited until Veterans Day to winterize my boat should make it is obvious that I have been attempting  to deny the holiday season is already here but to deny it at this stage would be cause for a thorough head examination!

If you live in North Carolina your plans for Thanksgiving Day celebrations might invariably include the fine Southern tradition of Deep Fried Turkey. So when I got the email from my local U-Haul dealer thanking me for being a “loyal U-Haul customer this year” and the subject read “Oil-Less Propane Turkey Fryers at U-Haul for Thanksgivng” (typo included) it got me thinking about a conversation I had last year with my friend Don Fuller who happens to be my North Carolina Farm Bureau Agent. Continue reading Deep Fried Turkey Safety Tips

How to get a No Money Down USDA mortgage loan in Raleigh

 

Logo of the USDA Rural Development office, par...
Logo of the USDA Rural Development office, part of the Department of Agriculture. (Photo credit: Wikipedia)

 


What is a USDA Rural Development Loan?

Section 502 loans are primarily used to help low to moderate income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

In Wake County North Carolina most areas outside city limits are eligible for financing and the 2013 income limits for a household of 4 is $91,850! Continue reading How to get a No Money Down USDA mortgage loan in Raleigh

Why is it so hard to get a loan for a manufactured home?

Colfax, IL; House

This is a question that I receive often so today when a client emailed me asking me this very same question it was no surprise to me. This post is based largely in part to that persons email and my response. The email began; 

I am pleased to inform you that due to your lack investors due to my single family home which just happens to be manufactured and my low [balance]  mortgage, I cannot be considered for the “new low rates”.  Seems as though all you are interested in is condos/townhouses/stick-built homes in a more affluent community. – Unhappy Consumer

Continue reading Why is it so hard to get a loan for a manufactured home?

Important Changes to Home Affordable Refinance Program (HARP)

Today the federal government  announced new rules that may allow homeowners who are struggling borrowers to refinance their mortgages at today’s ultra-low rates by  reducing monthly payments for some homeowners. The goal is that the monthly savings could provide a modest boost to the economy. It is important to note this help is NOT available to persons struggling to make the payments, in other words if you are behind on your payments you need not apply. Continue reading Important Changes to Home Affordable Refinance Program (HARP)