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Home Affordable Refinancing Many homeowners pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home. A Home Affordable Refinance will help borrowers whose loans are held by Fannie Mae or Freddie Mac refinance into a more affordable mortgage. Home Affordable Modification Many homeowners are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income. A Home Affordable Modification will provide them with mortgage payments they can afford.

Replacing a home’s windows, appliances, or roofing can be pricey. So knowing approximately how long before the refrigerator is likely to stop working or the roof might spring a leak can have value to buyers and home owners. If you are thinking about buying a home, you may want to factor in replacement costs for aging components when you make an offer. If you already own a home, this information can be helpful when trying to decide whether to replace a component before a move. A recent study by the National Association of Home Builders provides some insight that can help you estimate the average useful life of more than 100 household appliances and building materials. Of course, the actual longevity of any household material depends on maintenance, use, quality of installation, and climate conditions. So, these averages are only a general guide. 100 Years or More Brick siding: Lifetime of the home All wooden floors: Lifetime of the home Cellulose insulation material: 100-plus years 50-1

The homebuying season has been moved up this year! The springtime spurt in home buying does not seem to be waiting for the snow to melt this year as buyers scramble to meet an April 30 tax credit deadline. The spring buying season typically takes off in March and runs through May. But buyers who want to claim this year's tax credit — up to $8,000 for first-time buyers and up to $6,500 for repeat buyers — aren't wasting any time. They must have signed purchase contracts by April 30 and they have to complete the deal by June 30. So, what are some important things to keep in mind? First of all, be prepared for the amount of time it will take to close a deal. The average time it takes to get a home loan processed is about eight weeks now — two weeks more than it used to be, according to the National Association of Realtors. As we get closer to the deadline, loan processors could get very busy. Plan accordingly. Don't wait until the last minute. Sellers should be prepared to

Here is important informaton you need to know… and you need to tell your family and friends right away! Few people realize that each time their credit is checked, the information provided to the credit bureaus ( Equifax , TransUnion , Innovis or Experian ) immediately becomes a commodity that is sold not only to other lenders but also to companies that sell and resell the same names and personal information. That’s right - the credit bureaus have found a way to increase their revenues at our expense, without our permission! These "inquiry leads" include name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, age, gender and estimated income. They are marketing personal, confidential information to competing creditors and making millions. Our privacy is being sold, not just once, but over and over again. Lenders that have purchased these leads at a premium will then do everything they can to recoup their investme

As we begin 2010, both real estate professionals and home buyers are "hitting the ground running" — anxious to take advantage of the extended and expanded home buyer tax credit. Everyone I talk to in real estate is busier than usual for this time of the year. Buyers are anxious to make sure that they don't "miss the boat". Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit. Under the extended home buyer tax credit, as long as a written binding contract to purchase a home is in effect on April 30, 2010, and the deal is closed by July 1, 2010, one can claim the credit. For current homeowners purchasing a home it is

As you begin to prepare for "tax time" don't forget about the energy efficient tax credits that may be available to you. If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. Most products are eligible for tax credits at 30% of the cost, up to a total credit of $1,500 and must be "placed in service" between January 1, 2009 and December 31, 2010. Tax credits are also available for some vehicle purchases. Click here for an overview of the federal tax credits for energy efficiency. To Claim Your Tax Credit: Claim improvements made in 2009 on your 2009 taxes, filed by April 15, 2010. Use the 2009 version of IRS Tax Form 5695 Save your receipts and the Manufacturer Certification Statement for your records. See the ENERGY STAR FAQ for more information on tax credit amounts.