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Posts Tagged "Finances"
Could Obama’s Plan Help You Avoid Foreclosure?
Many homeowners could avoid foreclosure by refinancing their home loan to a lower interest rate. Yet refinancing to today’s low, low rates has been all but impossible for many home owners trying to avoid foreclosure. If you are trying to avoid foreclosure by making your payments more affordable, changes to the Obama administration’s Home Affordable Refinance Program (HARP) could help you stay in your home. The changes coming out by the end of the year are expected to help you refinance even if you owe more than then current market value of your home. Here’s how the Wall Street Journal describes the original HARP program in their blog. What is HARP? The...
Read MoreGetting a home loan—the good, bad and ugly
Are you thinking of buying a home in Portland? It’s July, 2010. We’re now three years into our recession/depression/darn grim real estate market. This little update will keep you informed about the current climate for home mortgages if you are buying a home in Portland. Keep checking back here. This topic changes all the time. FIRST THE GOOD NEWS FOR HOME BUYERS Interest rates are the lowest they have been since the 1950′s! Home buyers take note: I know of several people who have locked in a spectacular rate of 4.375% for the next thirty years. Locking in a rate this low makes better financial sense than waiting a few months for a lower purchase price but...
Read More“Instant” debt relief???
Q: Hey Tim, one of my clients asked me about using one of those debt relief companies you see on TV. What do you think? A: Anne, I’d tell your client to beware of so-called debt services as advertised on TV! Here’s why: Any promise of “Instant” debt relief is likely to be a scam, especially if the service charges an upfront fee of several hundred dollars. No one can make your debt disappear. But there are ways you can lower your monthly payments. For relief, turn to a nonprofit credit counseling agency certified by the National Foundation for credit Counseling (nfcc.org/firststep/locator.cfn). It will act on your behalf to negotiate with credit card...
Read More2009 First Time Home Buyer Tax Credit Q&A
So many people have asked me how the federal $8,000 tax credit works. Basically it’s a once in a lifetime opportunity to buy your first home and get paid by the government. Here are some highlights. What is it? It’s a gift from the federal government to all you first time home buyers. It’s goal is to help stimulate home sales and make first time home buying more affordable. Who is a first time home buyer? If neither you nor your spouse have owned a residence in the last 3 years you qualify. What kinds of properties are covered? As long as you buy a primary residence it can be a condo, townhome or detached single family home. Are there time restrictions? Yes,...
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