Justin Messer - Northstar Mortgage Group

Happy New Year Peachtree City!  2009 proposes to be a year full of change and promise.  For some those changes will include the decision to buy that new home.  If that’s you, right now rates are at an all time low and this is truly a buyers market.  Of course, it you are looking to buy or sell your next new home, I hope you call me…but where are you in regards to considerations on financing that home?  Looking for a seasoned mortgage professional?  Peachtree City did you know that you had a savvy young mortgage professional right here in your own backyard?  Well you do!

Paulson’s Plan in Review - Why Is It Suspect?

Okay folks I know it is difficult to bite, chew and digest this plan all in one bite.  So, the only way to eat this huge elephant is to take it one bite at a time.  So here we go!  This bailout or rescue plan (depending what side of the tracks you are on) is designed to keep banks from failing by recapitalising them. I read somewhere where they used the analogy that It is like a massive financial organ donor program where the Treasury replaces the guts of the current system with new, unclogged guts.

Bailout or Rescue Plan? A Pig with Lipstick is still a Pig! It’s still $700 Billion!

Whether you live in Peachtree City or anywhere around the world, by now you have heard about the $700 Billion Dollar proposed bailout plan.  Not only that, if you are like most folks you have set aside partisan politics because this will affect not only us but our children and grandchildren for years to come!  Folks, even the staunch republicans are distancing themselves from Bush on passing this legislation without even judicial oversight.  John McCain has even contacted Barack Obama to call off the campaign (including Friday’s debates) so he can get back to Washington to work on this legislation.  

Bailout Effect of Fannie Mae and Freddie Mac

Okay folks its happened, the Bush administration, acting to avert the potential for major financial turmoil says the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.  In doing so, it was also announced that both execs from these institutions were being replaced.  The replacements will be Herb Allison, a former vice chairman of Merrill Lynch, to head up Fannie and David Moffett, a former vice chairman of US Bancorp, will run Freddie.

Considering Refinancing Your Home? What You Should Know.

If you are like me you have been inundated with calls and mailings inquiring if you have an adjustable rate or interest only product.  Well that got me thinking, “Should I consider Refinancing now?” So for all of you scratching your heads right now. 

Here may be some sound advice to consider.

School of thought: Refinancing your mortgage can lower your payment by reducing your interest rate. Typically homeowners have refinanced their homes to consolidate debts, or pay for another a large purchase.  All are valid reasons to refinance. However, before you refinance, think it through. The following are some things to consider before signing on the dotted line, especially to a longer and higher mortgage.

Planning For Retirement? - Consider A Reverse Mortgage

In July Congress passed the Housing Rescue Package that was targeted at the growing number of foreclosures and shoring up Freddie Mac and Fannie Mae.  However, this package also contained some provisions in the legislation that look pretty good for older homeowners that want to trade in the equity of their homes for cash. 

 The federal government backs more than 90% of these reverse mortgage loans through the Home Equity Conversion Mortgage Program (HECM).  This program guaranteed 107,400 reverse mortgages in 2007 up from 7,900 in 1998.  Industry experts have also estimated that even with the drop in housing prices, seniors’ equity in their homes was estimated to be $4.2 trillion dollars at the end of 2007.  As more baby boomers head for retirement with smaller savings and pension funds, a reverse mortgage will probably be a viable option for many.