GET THE FACTS….JACK!
Mark S Rivers (Markus)
Home Mortgage Consultant
MetAmerica Mortgage Banker
Phone: (757)498-4488 ext-1059
Fax: (757) 213-9420
marks@metamerica.com
www.metamerica.com
Mortgage News
First-Time Homebuyer Tax Credit Extended & Expanded
On November 6, 2009, President Obama signed a bill into law that immediately extended the popular tax credit program offering up to $8,000 for qualified first-time homebuyers (FTHBs) into the first half of 2010.
The bill also instantly expanded the program, offering up to $6,500 in tax credits for qualified repeat home buyers, swinging open the door for even more qualified homebuyers to take advantage of this valuable opportunity at a time when mortgage rates are still near historical lows.
First-Time Buyers
For FTHBs (defined as someone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title), the basic rules remain the same, with one important exception – higher income limits are now in place, increasing the pool of potential buyers eligible for the tax credit of up to 10% of the purchase price or up to $8,000. This is money that does not have to be repaid as long you stay in your new home for at least 36 months.
Single tax filers who earn up to $125,000 are now eligible for the total credit amount. Those who earn more than this cap (but less than $145,000) can receive a partial credit. Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap (but less than $245,000) can receive a partial credit.
Repeat Buyers
The new homebuyer program offers an exciting new opportunity missing from the previous incentives – a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. This gives those who already own a qualifying residence some additional reasons to take advantage of lower home prices and interest rates and finally move up to the home of their dreams.
Important Deadlines
Purchase agreements must be signed by April 30, 2010, and closings must be final by June 30.
Get the Facts
There are other important rules and guidelines you must meet to qualify for this great opportunity. So, if you or someone you know has missed out on the first two home buyer tax credit programs in the last two years, don’t wait. Give us a call today. We’ll gladly review your situation and see if you can benefit from this new and improved program.
If you know anyone who is looking to buy, sell or refinance a home, please forward their name and telephone number to us. We will happily provide the same high level of service that we have provided to you. The greatest compliment you could possibly give us is the referral of your friends and family.
Finance News
5 Tips for Safe Online Shopping
by Cameron Huddleston, Kiplinger.com
Shopping online is a great way to find deals. But, if you’re not careful, you could be putting your personal information at risk of being stolen by identity thieves.
There are several steps you can take to protect yourself while shopping – or doing anything – online. Follow these tips to protect your personal information while buying gifts this year.
1. Never shop online from a public Wi-Fi connection. Hackers can tap into Wi-Fi connections at hotspots, such as coffee shops, airports and hotels, to capture your personal information. If you must use public Wi-Fi, you can download for free the AnchorFree HotSpot Shield to hide your IP address while you’re online and protect your computer from snoopers. Also, never use a public computer to shop or check accounts online.
2. Don’t use your smartphone to shop. Hackers can use the same tactics for tapping into your smartphone as they use for your laptop or PC.
3. Don’t use your debit card for online shopping. If hackers steal your debit-card information and raid your bank account, you must report any misuse within two days to get the same $50 limited liability as you would with a credit card. Miss that deadline but report your loss within 60 days and you could be liable for up to $500. After 60 days, your liability is unlimited.
4. Shop online only at known retailers. Don’t let a search engine pick a site for you because it could be bogus. Even if you’re using a site that you think is legitimate, look for security labels, such as VeriSign and Cybertrust, and for https:// to appear in the url on pages that prompt you to enter personal information. Also consider downloading McAfee’s free SiteAdvisor, which tests sites for dangerous downloads, spamming and more.
5. Don’t click on pop-up ads. Hackers recently have posted bogus ads with malicious software on legitimate sites (NYTimes.com, for example).
Reprinted with permission. All Contents © 2009 The Kiplinger Washington Editors. www.kiplinger.com
MetAmerica Mortgage Bankers
Apply Now | Contact Us | Call Today +1 800 538 8701 MetAmerica is dedicated to helping people save money.Home Reverse Mortgages Informational VideosForeign National Loans Find A Loan Getting StartedBuy A HomeRefinanceHome EquityApply Online Online ApplicationOur Loan ProcessGetting StartedAwardsTools and Resources FAQsCalculatorsVideosAbout Us TestimonialsNewsCareers Career ListingsApplyContact Us Find A Branch Fort Myers OfficeHeathrow OfficeRaleigh OfficeRichmond OfficeSarasota OfficeVirginia Beach Office MetAmerica resources include financial calulators, online loan application, and a number of Television Commercials discussing your mortgage options. We invite you to view our channel. more… Save Money on your Mortgage NOW! First-time Homebuyer? Refinancing? Home Equity Loan? There has never been a better time to save! Founded in 1995, MetAmerica is a full service Lender operating in the Southeastern region of the United States. With over half a billion in mortgage loans closed each year by its members, MetAmerica is one of the most successful Mortgage Banking stories in America today. Specializing in strong customer relationships, highly service oriented loans by design to fit each particular customer’s current needs. Loans for refinance, purchase, debt consolidation, investment properties, condos and the Foreign National market are all available. News Features Updated ——————————————————————————– Along with a modernizing of our site design MetAmerica is pleased to present a more comprehensive resorce for economic news. With a focus on information that affects mortgage rates, MetAmerica CEO Roger Slaalien delivers regular commentary at www.metamericablog.com + Home | Reverse Mortgages | Foreign National Loans | Apply Online | Tools and Resources | About Us | News | Careers | Contact Us © 2009 MetAmerica Call Us Today +1 800 538 870
Street Smarts
Holidays Without the Stress
It’s the most wonderful time of the year – yes, but for many it can also be the most stressful time of the year as well. With this in mind, here are a few simple tips for stress-proofing your holiday season.
Be generous…to yourself – The holidays are a time of giving and gratitude, but don’t forget about yourself and your health. Stress has been proven to be bad for your heart, heart rate, blood pressure and can make certain chronic diseases, like arthritis and diabetes, even worse. So don’t let shopping be your only exercise this holiday season. Schedule some time for yourself once a week at the gym. Splurge on a yoga class or two, or just allow yourself time for a quiet walk or jog around the block. After all, the best gift you can give your family is a happier, healthier you!
Plan for success…not perfection – We’ve all heard about “the best laid plans of mice and men,” but nowhere in that famous poem is perfection mentioned. This holiday season, yes, plan ahead and avoid stressful surprises that can pop up and ruin your events. But, at the same time, expect some surprises, and give yourself permission to let some things slide.
Give…and receive – A great way to cut down on stress is to share the load. Volunteering to help others will help you keep your mind off your responsibilities and remind you of how good it feels to give. But remember, this works both ways. Allow others that same opportunity. Let them help you when you need it. You just might find that these “opportunities” create the best, most enduring holiday memories.
Home News
Tips for Hiring a Contractor
The Better Business Bureau (BBB) consistently ranks contractor fraud as its number one complaint. Don’t be a victim. If you (or someone you know) is thinking about hiring a contractor, please read or share these tips straight from the BBB before signing anything.
Obtain bids (from at least three licensed contractors) based on building specifications, quality of materials, labor and time to complete the project.
Ask for customer references, and be sure to contact them. If possible, check out previous work.
Contact the Better Business Bureau (BBB) for a report on the contractor and review site thoroughly for further advice.
Ask to see the contractor’s pocket license and another form of ID.
Call the Contractors State License Board to see if the license is valid and if a bond is in place.
It’s very important that your contractor have property damage and personal liability insurance coverage, and, if the contractor has any employees, workers’ compensation. Insist that the insurance broker send you certificates of insurance.
Remember, a contractor may not ask for more than ten percent of the total contract price, or $1,000 (or two percent or $200 in the case of swimming pools), whichever is less, as a down payment. (Insist upon a lien release from all subcontractors and suppliers before you pay for any work).
Anything you sign may constitute a contract. Before you sign a final contract, be sure it includes the following:
the name, street address (not just a post office box), and local telephone number of the contractor;
if you must obtain a loan to pay for the project, that the agreement is valid only if you obtain financing at a given rate;
a written description of all work to be done, including a detailed description of the kind and quality of materials to be used;
a bid based on the job, not by the unit;
a price breakdown for both labor and materials;
starting and completion dates;
the schedule for releasing payments to the contractor;
a written statement reiterating any oral promises made by the contractor or sales representative, including any warranties on materials or labor;
that the contractor will obtain the necessary building permits.
Don’t sign a completion certificate until you’re satisfied that the job has been completed according to the contract and inspection has been completed by local building authorities.
Facts and Figures
Is Graduate School Worth the Cost?
With a tougher job market, more and more current college students and returning students are enrolling in graduate school for advanced degrees in an effort to stay competitive. However, with increasing education costs and a national unemployment rate above 10%, is the cost of higher education really worth it? Here are some interesting facts and figures to help you decide if graduate school is right for you.
How much will it cost?
According to data from April 2009 by the National Postsecondary Student Aid Study (NPSAS), the annual total price of attendance for full-time students in master’s degree programs at public colleges and universities averaged $28,375. At private, not-for-profit institutions, the total price was about $38,665.
How will I pay?
Nearly three-fourths of all master’s-level students and 86% of all doctoral students received some type of financial aid in 2007–08. According to the NPSAS data, more than half of all graduate students had an average cumulative debt totaling $34,910. This figure does not include the 40.2% of graduate students who still owed on undergraduate loans, with an average amount of $21,217.
Employer Support?
About one-quarter (25.9%) of all master’s-level students received financial support from their employers in 2007–08, either in the form of tuition waivers or tuition reimbursements. The average amount of employer aid received was only $5,245.
Table of Contents
· Mortgage News
· Finance News
· MetAmerica Mortgage Bankers
· Street Smarts
· Home News
· Facts and Figures
· Five Quick Tips
· Did You Know?
· Quote of the Day
· · Trivia Challenge
· Book Review
Did You Know?
The coffee bean is not actually a bean; it’s a pit of a fruit that resembles a bean, 2000 of which are needed to make a pound of coffee.
Don’t get blindsided by tough interview questions. Practice these tough questions with a trusted friend:
Question 1: What are your weaknesses?
Question 2: Why did you leave your last job?
Question 3: How do you deal with criticism?
Question 4: Where do you see yourself in five years?
Question 5: What is the riskiest thing you have ever done?
Quote of the Day
“You are born with two things: existence and opportunity, and these are the raw materials out of which you can make a successful life.”
– Charles Templeton
Trivia Challenge
The first TV show to be put into reruns was?
Leave it to Beaver
I Love Lucy
The Lone Ranger
Superman
Call (757)498-4488 ext-1059 or email us at marks@metamerica.com with the correct answer, and your name will be entered into our quarterly drawing to win dinner and movie tickets for two!
Book Review
Finding Happiness in a Frustrating World
by Jim Johnson
Based entirely on research from peer-reviewed journals and randomized controlled trials, Jim Johnson’s Finding Happiness in a Frustrating World is an easily read story that reveals what is known about the science of happiness. More importantly, at the end of this short book (less than 100 pages), all the concepts are pulled together into one practical, step-by-step plan that can be put into action immediately. Finding Happiness in a Frustrating World is an excellent tool to help you keep life from driving you crazy.
Finding Happiness in a Frustrating World is available at www.amazon.com.
About the author:
A physical therapist for over 18 years, Jim Johnson has written many books based completely on published research and controlled trials including, The Multifidus Back Pain Solution, Treat Your Own Knees, The Sixty-Second Motivator, Treat Your Own Rotator Cuff, and Exercise Beats Depression. His books have been translated into other languages and thousands of copies have been sold worldwide.
Learn more about Jim at www.bodymending.com.
Thank You
As always, we wish to thank our clients who have been kind enough to refer business to us. We appreciate the opportunity to provide excellent service to your family, friends, and co–workers.
Realtors, Brokers, Investors, having a hard time getting your mortgages closed “FAST”? Metamerica is a Mortgage Banker (NOT A BROKER) with in house underwriting, processors, and title experts. VA NC & FL “SUPER FAST CLOSINGS” Ask for Markus (757)-498-4488 ext -1059 Metamerica is liscensed by the Virginia State Corporation Commission (Liscense # MC-598)
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Mark S Rivers
MetAmerica Mortgage Banker
5151 Bonney Rd suite 210
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