The Mortgage Blog Spot

Use this link to check out national average mortgage rate updates!

http://www.mortgagenewsdaily.com/mortgage_rates/#{uname=BillBaggett}

North Carolina has opened its doors to the "green" community.  We appreciate the beautiful diverse state we live in and want to conserve its resources.  Being green implies being more energy efficient, conservative with our resources, environmentally friendly and efficient with space.   

If you are in the market for a "Green Home" check out these listings provided by the WNC Green Building Council. http://www.wncgbc.org/links/forSale.php

If you are looking to upgrade or remodel your home to include more "green" features, this website has a directory of green businesses by category. There are various incentives to promote being green.   http://www.wncgreenbuilding.com/directory/

If we can help you finance your dream home, please let us know.  Bill Baggett 828-768-6402.

Now is the ideal time to be looking for a home in Western North Carolina.  The trees are full of lush foliage, the rhododendrons and azaleas are blooming.  Flowers are budding up waiting for the perfect sunny day to blossom.  It is nice to see the landscape around a home in full bloom before purchasing a home.  Is there a shade tree that will cut the heating cost in the summertime?  How are the southern views? Does the property have evergreens or deciduous trees?  Deciduous trees will appear barren in the winter perhaps opening a different winter view.  If you have been holding back on searching for your dream home, maybe now is the time to explore the exterior of the home.  Whether you enjoy grilling out or playing catch in the backyard, this time of year is ideal for outdoor exploration.

Already found your dream home, apply online for a mortgage NC Loan Application or contact Bill Baggett 828-768-6402

Reverse Mortgages are primarily used by individuals over the age of 62 that own their home.  With the increase of retirees and rising costs of expenses some people will find the Reverse Mortgage is ideal for their needs.  The reverse mortgage will allow the person to receive payments that will help pay for living expenses. A reverse mortgage is different than the traditional mortgage.  

I've included these links so you may become more educated about the Reverse Mortgage. Use Your Home to Stay At Home is a free handbook by the National Council on Aging explores the various reason for choosing a Reverse Mortgage.  This handbook answers many of the questions you may have.  In addition, the government has posted the Top Ten Things to Know if You're Interested in a Reverse Mortgage. Please let me know if you have questions or if I may assist you with a mortgage.

While credit card companies may care about what happened before you filed for bankruptcy, many mortgage lenders are more interested in your recovery — what you’ve done since your filing. It won’t happen over night, but here are some tips and things to keep in mind when you inquire about a mortgage with a tarnished credit past:

Give explanations. No mortgage lender is going to ignore the fact that you’ve filed bankruptcy and he or she will likely want to know the cause of the filing. Your lender will be particularly interested in whether the same situation could happen again. Your chances of being qualified are much better if your bankruptcy was caused by a single event such as a loss of employment or a death in the family, than if it was the result of “just spending too much.”

If the bankruptcy resulted from a single event, it is important to show your lender paperwork describing the incident, such as the layoff notice or death certificate. You may also want to bring in court documents to indicate when the bankruptcy was filed.

Demonstrate good money habits now. Many people who file bankruptcy swear off credit altogether, however, it is important to re-establish your credit rating. Get a secured credit card or take on some sort of loan — furniture, a car or a major appliance — to demonstrate that you are able to make timely payments. Make sure you are making other payments (utility bills, cell phone, etc.) on time as well. You won't turn things around in a year but your credit score will improve over time.

Dispute any credit report errors. There’s no need to add to your troubled credit history with errors on your credit report. Get a copy of your credit report from each of the three major credit reporting agencies: Equifax, http://www.equifax.com; Experian, http://www.experian.com; and TransUnion, http://www.tuc.com. If you encounter any errors, inform the CRA in writing what information you believe to be inaccurate and request deletion or correction.

Save your money. Lenders may be more willing to loan you money if you’ve saved up a considerable amount of money for a down payment.

Live within your means. Even subprime lenders won’t risk loaning you money for an opulent oceanfront mansion. Think small when the time comes to look for a home. Smaller homes often mean smaller mortgages.

The answer is: "Absolutely."

Not only does Primary Residential Mortgage, Inc. require one, but imagine moving into your home in the middle of the winter – only to find out the furnace doesn’t work. Replacing a 40–year-old furnace is far more costly than hiring a home inspector. Buying a home is likely the largest investment you’ll ever make. You need to be assured you’re investing in a quality home.

A home inspector will examine all of the following:

• The heating system
• The central air conditioning system
• The interior plumbing
• The electrical system
• The roof and attic
• The insulation
• The walls, ceilings, and floors
• The windows and doors
• The foundation
• The basement
• The overall structure of the home

The best part of having a home inspection before you purchase a home is this fact; if there are significant problems, you have the ability to walk away from the deal. However, if you purchase a home without a thorough inspection, you may find yourself paying more money then you should.

Remember, if you need help finding a qualified home inspector or if you have any questions, please feel free to give me a call.