Port Richey Real Estate

Are you looking for a Realtor to help you buy or sell real estate in Port Richey, Florida?

Consider calling Chris O’Connor with Charles Rutenberg Realty for all of your home buying and selling needs in the Tampa Bay area. With close to 30 years of calling Tampa Bay my home I can comfortably say that I know this market inside and out.

And Port Richey, FL is one of my preferred markets!

Whether you’re looking for a luxury waterfront condo or a small 2-bedroom starter home…I’d love to help you find your next home or investment property.

Are you thinking about selling your home? You’re going to need a Realtor with experience, knowledge, ethics, discipline and a track record of successfully listing and selling real estate in both traditional sales and short sales. Please consider calling Chris today at 727-804-5319 to discuss your Port Richey real estate needs.

Have you seen this cat?

FHA Home Loans to the Rescue – Help for Homeowners

by Brandon Cornett

You can’t turn on the TV these days without seeing a news story about the U.S. economy in general and the housing market in particular. Starting in 2007, we began to see record numbers of home foreclosures, a trend that continued into 2008 (and one that shows no sign of slowing).

But for many homeowners, help is on the horizon. And it comes in the form of FHA refinance loans. Let’s take a closer look at this new program and what it promises to do.

Housing and Economic Recovery Act

The recently passed Housing and Economic Recovery Act of 2008 will help “at least 400,000 families” who are struggling with their mortgage payments and facing foreclosure. It will do this by providing FHA-insured refinance loans to switch the homeowners from high-rate ARM loans to lower fixed-rate mortgages. For those accepted into the program, the end result will be a lower monthly payment and more desirable fixed rate that will no longer adjust / increase.

History of the FHA

The Federal Housing Administration was created in 1934, during the Great Depression, to make home financing available to a greater number of Americans. The FHA does not actually make home loans to consumers. Instead, they insure certain loans made by private lending institutions.

You’ve probably heard the term “government-backed financing” before. The FHA program is an example of this. By having government insurance in their favor, private lenders are more willing to offer mortgages to borrowers they normally wouldn’t qualify (due to credit problems or other qualification issues). The lender is assured of getting their money back on the loan, even if the homeowner defaults and stops making payments. That’s what the FHA insurance does.

The Refinancing Angle

Traditionally, the FHA program was focused on helping buyers in the purchase of a home. But as a result of the aforementioned Housing and Economic Recovery Act, the program is being opened up to homeowners who want to refinance. According to the HUD website, “an estimated 400,000 borrowers in danger of losing their homes will be able to refinance into more affordable government-insured mortgages.” The program is slated to begin in October of 2008. To find out if you are eligible, visit the HUD website or refer to the Home Buying Institute resources mentioned at the end of this article.

Getting Away from ARM Loans

The goal of this new program is two-fold. It is designed to help struggling homeowners who have adjustable-rate mortgages (ARMs) convert to fixed rates. It’s also designed to lower their mortgage rates in the process. Lower rates and less uncertainty — a double win.

About the Author: Brandon Cornett is the publisher of Home Buying Institute, a website that offers advice for home buyers and mortgage shoppers. To learn more about FHA loan program or related topics, visit the Institute at www.homebuyinginstitute.com

Redneck Carnival ride

You ain’t gonna believe this one! The first time I saw this video I thought it must have been a fake, but after some research I discovered that this is the real deal. Would you ever allow yourself to be strapped into this slingshot? I am seriously amazed that this girl is still alive. Imagine all that could have gone wrong. On a positive note it sure looks like a lot of fun.

Thinking you can kill a bear with a hand gun

Guy goes into a gun store. He tells the salesman he’s going moose hunting in Alaska. He needs to know what kind of handgun he should carry in case he runs into a bear.

The salesman says, “Carry any handgun you want. But if you’re going to shoot a bear with it, be sure to grind off the front sight.”

The customer looks perplexed. “Why should I grind off the front sight?”

“That way it won’t hurt so bad when the bear takes it away and shoves it up your $@#.”

Credit and Home Buying – Like Peas and Carrots

by Brandon Cornett

In the classic film Forrest Gump, Tom Hank’s character said that “Jenny and me was like peas and carrots,” referring to how inseparable they were when growing up in Greenbow, Alabama.

Borrowing that analogy from Forrest, home buying and credit scores are like peas and carrots too. The two concepts are inseparable, so anyone planning to buy a home in the near future must understand the importance of credit.

The Credit and Mortgage Connection

For most people, purchasing a home means taking out a mortgage loan to pay for it. Unless, of course, you’ve just inherited a fortune from Uncle Ernie, won the lottery, or invested in Apple Computers stock back in the 1980′s. If you fall into one of those categories, count yourself lucky.

But for the rest of us “average folks,” buying a new home is only possible through the use of a mortgage loan. And this is where credit comes into the picture.

To obtain a home loan, you must have a credit history behind you (and ideally a good one). Lenders will review your financial background to “weigh” you in terms of risk:

- If you have a history of being financially responsible, then you’ll have a higher credit score and will be more likely to get a good interest rate on your home loan. You are a low-risk borrower for the lender.

- On the other hand, if you have a history of missing bill payments, carrying too much debt, or similar examples of bad financial management, you will have a lower credit score. In this scenario, it will be harder to obtain a loan for home buying purposes, and even if you do you’ll pay a higher interest rate on the loan.

The two points outlined above have always been true. But good credit is even more important for home buyers today, due to tighter regulations on the lending industry. So let’s talk about the things you can do to maintain a higher score:

Credit Score Needed to Buy a Home

What kind of score do you need for home buying in today’s economy? Well, this will partly depend on the lender you choose. But suffice to say that a better score will certainly make your home buying process a lot easier. Not only will you have an easier time qualifying for a loan, but you’ll also qualify for a better interest rate on that loan. This translates into money saved each month!

The average credit score in the United States currently falls between 650 and 700, depending on whom you ask. Higher is always better. According to experts, a score of 720 or above is ideal for home buying purposes because it will ensure that (A) you get qualified for a mortgage loan in the first place and (B) you get a good interest rate on the loan.

Carrots and Peas … Like Never Before

Good credit is more important for home buyers today than it was in the past. That’s because in the past, there were plenty of subprime lenders willing to offer home loans to borrowers with bad credit scores. Of course, they would charge them astronomically high interest rates on the loans, which is partly what led to the mortgage crisis of 2007 – 2008.

As a direct result of that crisis, there are very few subprime lenders around anymore. That particular business model is simply not viable anymore. So while there were plenty of subprime (bad credit) mortgages in the past, they simply aren’t around anymore.

About the Author: Brandon Cornett publishes the Home Buying Institute, a website full of advice on mortgages loans, house hunting, credit scores and more. Learn more or contact the author by visiting www.homebuyinginstitute.com

Tips for Getting the Best Mortgage Rate

by Brandon Cornett

As a home buyer, it only makes sense to try and obtain the lowest interest rate when applying for a mortgage. After all, that rate is a primary component of the mortgage payment, so it has a direct bearing on the amount of money you’ll pay each month.

But how do you get a low rate when applying for a home loan? This is the question many home buyers want to know. So in this article, I’ll explain three important concepts you should keep in mind when seeking the best rates from mortgage lenders.

Concept #1 – Your Credit Score Plays a Role

The first thing to realize is that the interest rate you are offered will be partly determined by your credit score and financial history. In other words, the best mortgage terms are usually reserved for those home buyers with the best credit scores.

What does this mean to you when buying a home and applying for a loan? It means that your credit score will often dictate the type of interest rates you are offered. So if you have a bad credit history, and your score illustrates this to the lender, then there’s little chance you’ll be getting the best interest rate. If this is the case, you should focus on improving your credit score before you go shopping for a mortgage online.

Concept #2 – The Mortgage Type Makes a Difference

The type of home loan you select also plays a role in determining the interest rate you receive. So it’s important for home buyers to understand this concept as well. For example, an adjustable rate mortgage (ARM) loan will generally come with a lower interest rate than a fixed-rate loan — but that is only for the first few years. Of course, the rate on an ARM loan will also adjust at some predetermined point in the future, and typically this adjustment means a higher interest rate! That’s another thing to keep in mind when mortgage shopping.

Concept #3 – You Must Compare Lenders on Key Factors

There is one last thing I want to touch on, and that is the need to shop around in order to get the most favorable rates from a lender. Shopping for a loan is just like shopping for anything else — you have to compare multiple lenders in order to find one that offers the best rates and terms on the loan.

Many buyers don’t realize that ten different lenders may offer you ten slightly different mortgages. The interest rate will vary, the terms will vary, the closings costs will vary … you get the idea. And these make a big difference in the amount of money you pay over the long haul. That is why it’s so important to compare lenders and to carefully review the information they present to you, ideally with a financial advisor of some kind (or at least someone who is mortgage-savvy).

About the Author: Brandon Cornett publishes the Home Buying Institute, a website full of advice on mortgages loans, house hunting, credit scores and more. Learn more or contact the author by visiting www.homebuyinginstitute.com

Would you refer a buyer or seller to me?

According to studies 43% of home buyers and 41% of home sellers say they found their Realtor through a referral. And only about 11% of buyers and 22% of sellers used their previous Realtor. With these stats I must be doing something right, because my past buyers and sellers not only keep in contact with me, but they also use me over and over again. And at a much higher rate than 11 – 22%.

So I’m asking you for your help. As everyone that watches the news or reads newspapers or can simply see or hear knows….this real estate market is in dire condition. Prices are way down and homes sit on the market for 300+ days before selling. In fact most listings will never sell. Yes, it’s that bad.

Maybe with this upcoming and pending government bailout the tides will change, but as of now we’re all in the same boat. Only sellers that price in the lower 25% of comparable listings will get showings or have a chance of selling.

With that said I sure would appreciate any referrals you might be able to offer. Perhaps someone you work with is considering buying their first home. Or maybe your sister is tossing around the idea of moving to Florida and she needs a Realtor to help her find the perfect condo. Is your best friend behind on mortgage payments and needing to sell and downsize? Whatever your story is I’d like to help. And nothing could be more flattering than receiving a referral from a past buyer or seller.

Please shoot me an email or call me at 727-804-5319 if you know someone that needs help buying or selling real estate in the Tampa Bay area. I promise you that I’ll take good care of them and exceed your expectations in assisting them find and purchase their next home.

(The above referenced statistics were taken from the NATIONAL ASSOCIATION OF REALTORS® 2007 Profile of Home Buyers & Sellers.)

Hillsborough County Elementary Schools

The following is a list of Hillsborough County Elementary Schools:

• Alafia Elementary School
• Forest Hills Elementary School
• Ippolito Elementary School
• John B. Gorrie Elementary School
• Joseph Richard Brooker Elementary School
• Lake Magdalene Elementary School
• Lillian Symmes Elementary School
• MacFarlane Park International Baccalaureate
• Nelson Elementary School
• Paul Laurence Dunbar Magnet Elementary
• Richard Cimino Elementary School
• Seminole Heights Elementary School
• Theodore Roosevelt Elementary School
• Westchase Elementary School
• Yvonne T. McKitrick Elementary School

If you notice an error in this list of Hillsborough County Elementary Schools please let me know! Thank you.

Do Open Houses Work?

The answer to this question isn’t so simple. In a normal or healthy real estate market Open Houses are one of the least effective marketing tools a listing agent can employ. And it only gets worse. In a declining or paralyzed real estate market, such as we’re currently experiencing in the Tampa Bay area, Open Houses are a complete waste of time.

So why do Realtors do Open Houses?

We do them because sellers insist we do them. Home sellers are under the impression that Open Houses actually work, and the Realtor that refuses to waste his or her time doing Open Houses will soon have a disgruntled seller on his or her hands. Realtors do Open Houses to appease sellers.

You’ve heard of someone who sold their house at an Open House?

Yeah, me too. And I’ve also heard of someone who tried to remove their own spleen with a spatula. Ok, I made that part up, but you get my point….I hope. Actually selling a home at an Open House is a rare event. So rare that it borders on a freak incident.

The REAL reasons why Realtors do Open Houses

1. Realtors have to appease sellers.
2. Realtors use Open Houses to find buyers.
3. Realtors use Open Houses to find sellers.

What do you think happens when a visitor comes to an Open House and discovers the home doesn’t fit their criteria? Do you think the agent holding the house open simply thanks them for coming and says bye? No chance. Realtors do their best to then capture the contact information of these potential buyers and then flip them to other properties. Your house has essentially served as bait to catch buyers.

And then there are the nosy neighbors. While the home seller is away (allowing the listing agent to hold the Open House) several extremely bored and overly nosy neighbors will wander over to investigate. They’re there to critique the decor, floor plan and furnishings. Oh, they’ll pretend to be interested in buying the home, but a good Realtor knows the right questions to weed out the nosy neighbors from the qualified genuine buyers.

The moral of the story is that Open Houses are a tool for agents to find new clients. In the miraculous situation where a qualified buyer actually walks through the door and wants to purchase the home then the Open House turns out to be a win-win-win for all. But the odds are the entire process of holding a house open will be fruitless and a waste of time for the home seller.

Personally, I love to do Open Houses when the market is active. As long as there are buyers out and about I’m content with doing Open Houses just about every single weekend. But my personal ethics force me to be honest with home sellers. I let them know up front that there is very little chance of attracting a buyer and selling their home through the Open House process. If they still want me to hold their home open I do so with a clear conscious that I have not led them on and given them false hope. And I also let them know that if their home doesn’t match the criteria of the Open House visitors I will sell them a different home.

Have I met buyers at Open Houses?

Over the years I have sold at least a dozen homes to Open House visitors, but never have I sold them the actual house where we met while I was holding an Open House. And I’ve met maybe a dozen sellers at my Open Houses and listed and sold their homes soon thereafter. I also don’t know a single Realtor that has held an Open House and sold that property due to holding it open.

(Naturally, the above information pertains to Open Houses in the Tampa Bay market under current 2008 market conditions)

The Keys to Housing Recovery

To move the country out of this economic crisis, Congress and the next administration must place significant emphasis on restoring confidence in the housing market. That’s what National Association of Realtors® President Charles McMillan told the House Financial Services Committee in testimony today.

“The housing sector is at the core of the current economic crisis,” McMillan said. “A renewed, revitalized and robust housing market is essential to generating commerce and helping families build wealth.”

McMillan congratulated Chairman Barney Frank, D-Mass., on H.R. 384, the TARP Reform and Accountability Act, which was introduced last week. Many points in this bill reinforce NAR’s proposed recovery plan to stimulate housing investment, mitigate foreclosures, help current homeowners, and provide needed liquidity to commercial mortgage markets to ensure that financing is available.

The principle focus of NAR’s plan is to ensure that the Troubled Asset Relief Program does what it was originally intended to do – end the credit crisis and jumpstart mortgage lending. “It is imperative to get TARP back on track by targeting funds for mortgage relief, which will help lower mortgage rates and reduce foreclosures,” said McMillan. “In addition, eliminating the repayment feature of the first-time home buyer tax credit and expanding it to all home buyers; reinstating the higher mortgage loan limits for FHA, Fannie Mae and Freddie Mac; and lowering mortgage interest rates through a buy-down program will meaningfully impact the housing industry.”

“We are pleased that Congress is moving forward on these important issues. Together these actions will build a solid foundation for a housing recovery,” said McMillan.

NAR’s plan also includes keeping mortgage interest rates low, boosting home buyer confidence, and reducing the current foreclosure rate. NAR has also asked that regulators be encouraged to help financial institutions resolve problems in the short-sale process, make it easier for servicers to modify existing loans, remove unreasonable underwriting guidelines and insist that credit reporting agencies correct errors promptly.

“Low interest rates are only effective if people can get a loan. We hear every day from our members that even home buyers with good credit are having trouble getting mortgage loans. We must all work together to unclog the housing and financial system,” said McMillan.

NAR called on Congress to use current TARP dollars to not only reduce interest rates, but also fix operational issues that are preventing consumers from getting or modifying home loans. “These are critical steps that must be undertaken quickly if we are to right our nation’s housing and financial markets,” McMillan said.

NAR hailed the House of Representatives’ actions and called on the Senate to move quickly in adopting its proposal. NAR also expressed hope that the new administration will focus on a housing recovery as it moves forward with a larger stimulus package.

Read President McMillan’s testimony (PDF)

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

How to Be a Real Estate Statistic – The Good Kind

2007 was a year of record-breaking real estate statistics in the United States. Unfortunately, most of those stats were bad. Just ask the hundreds of thousands of homeowners who faced foreclosure last year!

On the up side, there is a lot you can do to prevent this kind of real estate misery, and to avoid becoming a negative real estate statistic. Education goes a long way in this regard, and that’s why I continue to publish articles like this.

So with that said, here are five ways to be a good real estate statistic in 2008, instead of a negative one:

1. Understand and Guard Your Credit

Good credit has always been important for home buyers who are shopping for a mortgage loan. But it will be even more important this year, and for the foreseeable future. Last year’s subprime mortgage crisis has led to tougher regulation of the lending industry. As a result, most lenders (those that are regulated anyway) will be paying closer attention to the credit scores of borrowers.

So your first step is to understand the importance of credit in the real estate world. Your next step should be ordering a copy of your credit report so you’ll know where you stand, compared to the average consumer in this country. You should also check your credit reports for errors and work to get them corrected if need be.

You are entitled to one free credit report per year, from all three of the credit-reporting companies. There are several websites you can use (including my own) to request all three reports at once, which is certainly the convenient way to do things.

Also, if your credit score is low — lower than average, this is — you should work on improving it. You can do this by paying down your debt, paying all of you bills on time, and being financially responsible in general.

2. Don’t Buy Over Your Head

Many of the negative real estate statistics from 2007 were people who bought more home than they could rightfully afford. Of course, some of the lenders were to blame as well, mainly for offering ARM loans with low teaser rates during the introductory period, and glossing over the potential rise in monthly payments that would ensue.

Here’s the bottom line. If you can’t afford a home, you just can’t afford a home. Instead of pursuing dangerously “creative” financing methods to purchase that new home, focus on improving your financial situation first. Reduce your debt. Save up some cash. Try to increase your income, if at all possible. You might even relocate to an area where the housing costs are more within your reach. Heck, that’s the main reason I moved from San Diego to Austin!

Avoid buying beyond your financial means. It never ends well, and you will likely end up as a bad real estate statistic instead of a good one!

3. Choose Your Mortgage Type Carefully

In the previous point, I talked about the perils of the adjustable rate mortgage (ARM) loan, for people who don’t truly understand the ARM.

Don’t get me wrong … an adjustable-rate mortgage can be a good idea, mainly if you have plans to sell or refinance the home within a few years. In that case, you could save yourself some money by paying lower interest rates in the short term.

Here’s the key to success when choosing a type of mortgage loan. First of all, you have to understand the pros and cons of the different mortgage types. Secondly, you have to be realistic about your future plans. If you’ll be staying in the home for many years, you might be better off with a fixed-rate mortgage that can weather the financial storms of the future without being affected by them.

Research the different types of mortgage loans, and then match your loan to your home-buying situation and future plans.

4. Don’t Trust Lenders … Or the Government

Here’s a real “shocker.” Mortgage lenders are in the business of lending money to people, and making a profit while doing so. Surprised by this? I told you it was a revelation! Mortgage lenders will do everything they can to get somebody to borrow from them, as long as they don’t get burned in the short term.

So you really can’t trust a lender to tell you what you can and cannot afford to pay each month. The only thing a lender can tell you with certainty is whether or not you’re qualified for the mortgage … not whether or not you can realistically afford it. And if they sell the loan to the secondary market after granting it to you, then they don’t really have to worry about your financial woes down the road.

But what about the government? Surely they are looking out for home buyers, right? Well, not always. You see, there are these people called lobbyists, and many of them represent the lending industry. They make big contributions to certain political campaigns (like Schwarzenegger and Bush, to name only two) in order to influence regulations — or the lack of regulations — on the lending industry as a whole.

So don’t expect the government to come riding to your rescue if you get in over your head with a mortgage loan. You must be a smart consumer, an educated consumer, and a self-reliant consumer.

5. Be Proactive in Times of Trouble

Even if you adhere to the other four guidelines on this list, but you still find yourself in trouble, you should be proactive about finding a solution. In other words, don’t procrastinate.

Here’s an example of what I mean.

Let’s say you buy a new home and take on a mortgage loan to pay for it. Everything is fine for the first two or three years, but then you run into some unexpected hospital bills and other expenses. So you get behind on your mortgage payments. But you fully expect to be back on track in a few months.

Here’s where it pays to be proactive. If you contact your mortgage lender and explain that your financial problems are only temporary, they probably have ways to help you out.

Generally speaking, mortgage lenders want to avoid foreclosure as much as the homeowner does. After all, they are in the business of loaning money, not managing and selling properties. That’s why most lenders will work with homeowners to come up with a solution to temporary setbacks. Some lenders have tools at their disposal to help in such cases, such as repayment plans and lump-sum reinstatements. But you won’t know about them unless you’re proactive about it.

About the Author: Brandon Cornett publishes the Home Buying Institute, a website full of advice on mortgages loans, house hunting, credit scores and more. Learn more or contact the author by visiting www.homebuyinginstitute.com

New Ferrari dealership on Tampa Road

Have you seen the brand new location for Ferrari of Tampa Bay? They’re located at 2420 Tampa Road in Palm Harbor, FL 34683, which is just west of US 19. It’s a gorgeous building and just driving by the showroom could easily give a car enthusiast a heart attack…so be careful. If you’d like to see what they offer without the health risks just visit their web site at www.FerrariTampaBay.com.

Annual Strawberry Festival in Plant City – Feb. 26 to Mar. 8, 2009

For more information and directions visit the Florida Strawberry Festival web site at http://www.flstrawberryfestival.com/

FREE Foreclosure workshop

A FREE Foreclosure Workshop will be sponsored by the Pasco County Board of County Commissioners on Saturday, January 17, 2009 from 10:00 AM to 2:00 PM at the Victorious Life Church, 6223 Old Pasco Road, Wesley Chapel, Florida 33544. Information will be presented on short sales, legal aspects of foreclosures, and programs available in Pasco County. Housing Counselors will be available to speak with you about your particular situation. For more information call: Pasco County Community Development at 727-834-3445 or 813-996-7341 Ext. 3445, or 352-521-4274 Ext. 3445.

Enthusiasm – the Best Weapon in the War Against Procrastination

Author: Kevin Hensey

Enthusiasm is what makes the difference between reaching our goals and giving up before we get started. Thomas Edison said, “If the only thing we leave our kids is the quality of enthusiasm, we will have given them an estate of incalculable value.” Edison’s research laboratory burned to the ground when he was 67. As the fire consumed his world-famous “invention factory,” Edison told his children, “Kids, go get your mother. She’ll never see another fire like this one.” Edison knew that enthusiasm is the best antidote for tragedy, and it’s the most powerful weapon to use in the war against procrastination.

I have learned that my level of enthusiasm has nothing to do with my feelings; my feelings wake up on a different side of the bed every day. To take control of my life, I must choose the way I feel-I can’t let my feelings control me. Can you talk yourself into a positive frame of mind when you’re discouraged? How do you keep yourself motivated? How do you stay focused when a job is tedious? How do you handle failure when your plan isn’t going well?

• Stay away from negative people. Attitudes are contagious-negative people infect us with negative attitudes. Associate with positive thinkers; their self-confidence is contagious, too.

• Schedule difficult tasks for the time of day when your energy is highest. If you haven’t determined the best time for you to tackle the day’s least appealing jobs, try doing them as early as possible.

• Tackle a problem that’s been a thorn in your side. When you get in the habit of making things happen, your enthusiasm goes through the roof. Inactivity is a major cause of depression and anxiety. (On the other hand, you can increase your energy level without eliminating other forces that cause procrastination; teenagers are particularly adept at expending enormous amounts of energy without getting anything done. Always remember that any technique is only effective when used as part of a total strategy.)

When you breeze through a task with particular ease and competence, make a note of the time of day. And ask yourself what other factors might have contributed to making you more productive. When you start to discover a pattern, you will have found how to operate at a higher level every day. And when you identify the time of day when you are usually most efficient, schedule some of your least enjoyable tasks for that time.

We must continue to learn new things as if we were going to live forever, while living each day as if it were the last. Telling myself that “Today is the first day of the rest of my life” doesn’t work for me. If today were the last day of my life, how would I live it? That is the question I ask myself when I must fight against the forces of procrastination.

Always remember that enthusiasm is a choice. Mark Twain said, “Do something every day that you don’t want to do; this is the golden rule for acquiring the habit of doing your duty without pain.”

http://boostconfidence.pan100.net/?e=kevin121554@yahoo.com

BOOST YOUR CONFIDENCE! How to Succeed at Being Yourself

About the Author:

Kevin Hensey speaks at business clubs and prisons on personal growth. He has written articles regarding personal development.
His website is:
www-powerbooks.com
http://boostconfidence.pan100.net/?e=kevin121554@yahoo.com
BOOST YOUR CONFIDENCE! How to Succeed at Being Yourself

Article Source: http://www.articlesbase.com/ethics-articles/enthusiasm-the-best-weapon-in-the-war-against-procrastination-701689.html

Behind on your mortgage? Modify or Sell!

Plenty of borrowers think it wise to avoid calls from their lender when they start to fall behind on their monthly mortgage payments. Nothing could be further from the truth and this decision could very well be laying the foundation for an eventual foreclosure. It makes much more sense to have those conversations, explain your position, and then see what sort of resolution your bank offers.

Many home owners that are in trouble with their mortgages don’t even realize how common their situation is today. If they only knew how many other people are in the same boat they might not feel so embarrassed and might actually have a chance of solving the problem.

Be proactive. Call your lender.

Give your bank a call or visit their Internet home page. You might be surprised how many lenders have solutions right on the home page. This should tell you that financial troubles are obviously quite common in 2008 and 2009. Why else would lenders place links right on the home page offering loan modifications and short sale assistance?

What is a loan modification?

A loan modification is simply where your bank adjusts the terms of your loan to make it more affordable to you, the borrower. Most loan modifications involve a simple adjustment of the interest rate on your existing loan from a higher rate to a lower rate, but the loan modification doesn’t address an even bigger concern. If you owe $180,000 and your home is now only worth $90,000 a loan modification isn’t going to help with this $90,000 difference. Sure, it will lower your monthly payments, but the $90,000 difference will stay with you for years and years while the market continues to decline, eventually stabilizes, and then finally climbs slowly back to the $180,000 price level. A short sale might make more sense.

If dealing with your bank scares the heck out of you contact a qualified Realtor to handle the short sale process. And a short sale might be your best option. A short sale is where you sell your home for less than you owe the bank – with your banks approval, naturally. It is a tricky, complicated and stressful experience for most borrowers so hiring a Realtor makes sense.