Just a note to remind you that in October, President Obama announced plans to open up refinancing to more homeowners who are underwater. This proposal was a revision to the current Home Affordable Refinance Program (HARP).

So what does this mean to you?

This means that if your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP.

You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites:
•http://www.freddiemac.com/mymortgage
•http://www.fanniemae.com/loanlookup/

Fannie Mae and Freddie Mac have recently released details regarding how these changes will be run. If you have any questions at all about what these changes mean or how they could impact you, call or email me anytime. I’m always happy to help.

Sincerely,

Hope mls #3938 Hall
Hall Lending Group
hope@HallLendingGroup.com

If you have reviewed your credit report and believe that some of the information it contains may be inaccurate, you can legally dispute it via mail or, for faster results, the Internet. Once notified of a mistake on your report, a credit bureau has thirty days to investigate and respond. If the information can’t be confirmed, then the item(s) should be removed.

For items that cannot be resolved online or that require copies of official paperwork or other supporting documents, use the sample Credit Report Dispute Letter below as a guide. Be sure to mail your letter and documents via Certified Mail for your records.

Word of Caution: Not all creditors report to all three credit bureaus; so be sure to only dispute a derogatory item to the credit bureau that is reporting that item. Otherwise you risk having that negative item added to the reports that are not currently showing them.

Do not dispute an account that you are not 100% sure you can prove it should be removed. Having an account listed on credit as being “disputed” will cause issues during the loan process. So the dispute process should not be started close to a time when you will be prusuing a home loan.

If you need any help, don’t hesitate to give us a call. We’ll be glad to assist you or to provide a referral to credit repair professionals you can trust.

Sample letter below
——————————————————————————–

Your Name
Your Address
Your City, State Zip Code

Date

Name of Credit Reporting Agency
Dispute Department
Address
City, State Zip Code

Re: (Social Security Number & Date of Birth)

Dear Sir or Madam:

I am writing to dispute the following information in my file: (Identify disputed items by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) The items I am disputing have also been circled on the attached copy of the credit report I received.

This item is (inaccurate or incomplete) because (explain what is inaccurate or incomplete and why). I am requesting that the item be (deleted, changed, updated, etc.) to correct the information.

(If you are enclosing any documents, send copies only.)

Enclosed are copies of the following documents supporting my position: (List what you are enclosing, if applicable). I have also enclosed proof of my social security number and current address for your review. Please investigate and (delete or correct) the disputed item(s) as soon as possible, and inform me in writing of the outcome.

Thank you for your time and consideration,

Your name

NMLS # 3938

That’s right. The USDA does more than just certify beef. It also sponsors the little-known Rural Housing Loan Programs. If you qualify, you can get a government-insured mortgage on that home you’ve been eying with no down payment, and low mortgage insurance, and sellers can even help you with your closing costs. To find out more about this special program, give us a call today!

When it comes to mortgage loans and interest rates, it’s never a good idea to gamble. That’s why I typically advise my clients to lock in an interest rate at the earliest opportunity. This is just one step of the standardized system we have put in place to ensure the best possible loan experience for each borrower that we work with.

A mortgage loan cannot be closed without a locked-in rate, and there are three main elements to take into consideration:
• Interest Rate
• Points or fees
• Length of the lock
Locking in a rate does not obligate the borrower to commit to the loan until the loan is actually closed. The lock is merely a security measure designed to eliminate the risk of market volatility throughout the duration of the purchase or refinance transaction. As long as the loan is approved and funded before the end of the lock period, the borrower will receive the interest rate quoted.

When a lender permits an extended lock-in period, the borrower will likely face a higher interest rate or additional fees that could be quoted as points. In other words, the borrower pays for the lender to take on the extended risk of being exposed to potential changes in the market.

For example, let’s say a 30-day rate lock commitment costs the borrower one-half point, while a 60-day rate lock commitment costs one full point. If the borrower in this scenario needed the extended lock period, but did not want to pay points, then an alternative would be to accept a slightly higher interest rate. In this case, a 60-day lock would typically have a higher interest rate than a 30-day lock.

Our standard procedure is to lock in a rate as quickly as possible. My team and I want our clients to know that while interest rates fluctuate daily, most lenders do not want to lose any business because of it. If a significant rally causes interest rates to drop 0.25% or more, we know that we can most likely renegotiate the rate. In many cases, lenders prefer this option over losing the loan to another lender. On the other hand, if we’d allowed our clients to sit on the fence and not lock in their rate, we would have exposed them to market volatility without a safety net. Then, if rates were to increase, the borrower might no longer qualify for the loan they want – a situation that we want to avoid at all costs.

By knowing our clients’ needs and working intimately with them to make the right decisions early on, my team and I are proud to say that we have helped them to achieve their home ownership dreams.
If you’d like to learn more about the loan programs we have available, please call me!

NMLS # 3938

3 Tips for a More Productive Day
By Jason W. Womack, MEd, MA ‘

Do you start each day with a plan for action?

Most people do. Whether they make a to do list or leave emails in their inbox to work on throughout the day, they have some way to manage their tasks and projects. Each day, however, we manage more than just time. We manage conversations, meetings and interruptions.

Have you ever noticed your productivity actually goes up the fewer times you’re interrupted during the day? This is the reason some people block time on their calendar; it is a way to specify the hours (or minutes) of the day that will go toward a specific task or project. For many people, however, they don’t have that much control over their schedule or calendar. If that is the case, here are three habits to practice to have a more productive year:

1. Arrive early. To meetings, airports, appointments, to the office, etc. When you arrive early, you are refreshed and relaxed. Instead of scrambling at the last minute and being stressed out from traffic, delays or other “unscheduled” surprises, you will be able to find a place to sit down and perhaps even review the meeting materials, or read something you have been waiting until you had time to read. This sets you up for success. You have a cushion of time if there is a delay or if you arrive early and can get something done (see tips below).

2. Make fewer agreements. For the next 5 business days, be sure to write down each and every thing you say you are going to do…and what others say they will do for you. Once you have this complete inventory, prioritize the ones that are the most important and start to renegotiate (or eliminate) the rest. One way to manage your agreements most effectively is to use some kind of Promise Guide (http://www.thepromiseguide.com) so you can visually see all you have to do and track your progress over time. The more items you complete, the better able you will be to manage all your actions and tasks. Then, slowly and over time, make fewer agreements, but make sure they are the most important ones!

3. Ask for assistance. Sure, at one time (in university, especially) it was very important to be able to work by ourselves, and demonstrate our capacity for productivity. However, now in an era of uber-connectivity it’s very important that we recognize the experts in the world and reach out to them for assistance. Often, these people are just an email (or even a phone call!) away. Reaching out to ask someone for assistance will save us time, and expand our community and network. As we head into another decade of a considerably flattening world, it’s going to be more and more important that we know WHO we need to know so that we can do WHAT we do better.
For the next few days, consider testing these new habits. They probably won’t form themselves overnight, but practicing with them will give you some ways to improve your productivity, one day at a time.

Jason W. Womack, MEd, MA, is the author of the upcoming, Your Best Just Got Better: Work Smarter, Think Bigger, Make More. Jason is a Talent Development Coach, working with leaders who make significant, positive contributions in life and at work. Visit http://womackcompany.com/ambw for more information.