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Welcome
to Homefront News, a quarterly newsletter presented
by Bernie Saul, President, Equitylink Mortgage, Inc.
Archives
March,
2006
Inside
this Issue:
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2006
Real Estate Market Forecast
Metro
Denver real estate prices are artificially inflated
due to record low interest rates, zero-down loan
programs, seller paid closing costs on behalf
of buyers, and interest only loans. Because of
the underlying weakness in the market from the
economic downturn during 2001 through 2003, and
the repercussions of the artificially inflated
prices caused by the incentives introduced into
the market since 2002, prices will begin dropping
by the end of the 2006 third quarter. These lower
prices will run for only 18 to 36 months. The
exact time frame depends on the number of new
jobs infused into the Metro Denver economy and
how quickly we reach a positive net migration
of 40,000 per year in Colorado.
My
forecast is that by the end of 2008, net migration
into Colorado will hit 40,000 plus, and sound
the official beginning of a new economic boom
for Metro Denver. By 2009 the market will be rapidly
heading upward and in full swing by 2010.
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No-Cost
2nd Mortgages
Let
me help you analyze the benefits of a fixed-rate
second mortgage to replace yours adjustable
rate line of credit, or any other variable rate
payments that are eating into your discretionary
spending. And, with no loan fees at all…that’s
right no appraisal fee, no origination fee,
no title fees, no closing costs, NONE!
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Keeping
Payments Affordable
Short
term rates have crept up steadily for 14 months, causing
payments on adjustable rate home loans to rise. Since
long term fixed rates have moved much less, it may make
sense to refinance into a fixed rate loan, soon. I can
show you the math of your current adjustable rate loan
and how it can change in the future, and review your
options. Here are some situations where refinancing
now might be helpful:
Home
owners whose 1st mortgage and piggyback second are both
adjustable, may save money by consolidating into one
new fixed rate loan.
Take
advantage of your improved credit score to refinance
now on better terms.
Move
an adjustable-rate home equity line of credit into fixed
rates to keep your payments steady.
To learn more about how these strategies might work
in your situation, give me a call.
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Nothing
to Sneeze At
Spring
is a time for housecleaning. It’s also allergy
season, so many of us are concerned with keeping dust
to a minimum in our homes. Here are some ideas for you
and your family to consider…
Clothing
fibers are a big source of dust, so put those off-season
clothes in garment bags or plastic bins. Also, be sure
to vacuum your closet floor periodically.
Upgrade
your furnace filter by using disposable ones made from
pleated paper or fabric. They’ll capture more dust
than standard fiberglass filters. And be sure to change
them at least every 60 days.
Vacuum
your carpets often; regularly take area rugs out for
a good shaking or beating… that’s right, just
like great-grandma used to do. Severe allergy sufferers
may find it necessary to replace carpeting with hard
flooring that doesn’t collect dust.
Remember
to vacuum, wash, or shake out other fabric surfaces
such as sofas and draperies. Your wood furniture can
also be dusted with cloths containing micro-fibers that
use static electricity to attract particles which otherwise
would cause you to sneeze.
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To
learn more about personal security, spyware, ID
theft, scams, and internet safety. You’ll
be glad that you did.
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$$$
Identity Theft $$$
Identity
theft is not just the tragedy which strikes other people.
It is a very real possibility for each of us. There
are over 27,000 victims per day, or 10 million victims
per year. For the average person, the cost is $5,000
and takes a year to restore your good credit history.
An ounce of prevention...
High
Water Bills?
The
most common cause of high water bills in your home is
a leaky toilet, wasting 100—250 gallons per day.
To check for a leak, add food coloring to the water
in the tank and wait 30 minutes. If the water in the
bowl changes color, you have a leak.
Go
to www.denverwater.org
for repair tips or call 303-628-6343 for information.
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FRAUD
ALERT UPDATE !
If
your Colorado driver license still has your social
security number on it… go to DMV and ask
for them to re-issue your license without it.
The re-issue fee is only $5.
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Junk
Mail…
Stop
the credit card offers. The average household
receives 60 credit card offers in the mail each
year.
Thieves
can steal these, fill out the forms, and open
a new account in your name.
Call 888-567-8688 to stop these offers.
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Memorial
Day— Monday, May 29th, 2006
A
day to remember those who have gone before us. A day
to honor those who gave their lives defending our freedoms.
A day to reflect and be proud to be an American. A day
to say a prayer of gratitude to the divine creator of
our country.
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Free
Credit Report
OK,
let’s run over this one more time. It seems some
folks are still having trouble figuring out how to get
a free credit report. It’s not hard, so let’s
start at the beginning.
Each
of the 3 credit bureaus are required by law to provide
you with a free copy of your credit report every 12
months. It’s absolutely free, and you don’t
have to buy anything. It’s guaranteed via the federal
Fair Credit Reporting Act. But, there are only three
ways you can get your free report:
Order
online at www.annualcredit report.com. You will be asked
to first select your state and then to click on the
button “Request Report.” You will be able
to start the process of ordering one or all three of
your reports. Any other sites offering “free”
reports are imposters.
Order
by phone, calling 877-322-8228. This is the only central
source number. If you call any other number, including
each of the three credit bureaus, you will get charged.
Order
by mail via the form available at the central resource
Web site. Then you can mail the form to:
Annual
Credit Report Service
PO Box 105281
Atlanta, Ga. 30348-5281
None
of the free sources include your credit score, which
will cost you about $6.95 extra.
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