Voorhees Township, NJ Real Estate News

By Janet Larsen, Don't Just List Your Home, SELL IT!
(Berkshire Hathaway, HomeServices Fox and Roach, Realtors)
https://janetlarsen.southjerseyproperties.com/index.php?advanced=1&display=Voorhees+Twp,+Alluvium,+Alluvium+Woods&areas[]=area:Voorhees+Twp&areas[]=neighborhood:Alluvium&areas[]=neighborhood:Alluvium+Woods&fbts=1925065&beds=4&baths=0&min=300000&max=500000&minacres=0&maxacres=3000&minfootage=0&maxfootage=30000&walkscore=&styles[]=&map=0&yearbuilt=0&types[]=1&sortby=listings.listingdate+DESC&ppc=active+rain,+fb&agency_photos=
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Most people understand that their credit score can affect their future chances for credit, but many people do not know that their credit score and credit records are also used by auto insurance and home insurance companies as one way to determine rates. Most states allow home and auto insurance companies to use credit information in their formulations for premium rates. Needless to say, if your credit history has some bad marks on it you may end up paying more for your coverage. To make matters worse, the Supreme Court of United States ruled this year that insurance companies do not even have to tell you that it was your credit history that caused them to charge you more. In brief, the court ruled, unanimously, that insurance companies were not at fault in charging certain poor-credit ...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Another Snow Day in Southern New Jersey today. My sons school was closed again today and my work actually was closed so we got to spend all day together. I began to feel how lucky I have to have the kind of job that I do, from time to time, have the ability to work from home. Some are not so lucky. Below is a picture of our hard work today! Today was just a nice reminder at how lucky I am really am. It seems some what small but days like today, really make me want to make the most out of every day. I'm sure you have noticed that we are not artist but we did our best and had fun doing it!
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
And, you have the Dodd-Frank Financial Reform Bill to thank for it.  Starting July 21, 2011, lenders will have to provide you with your credit score if you are turned down for a loan OR are charged a higher rate than the "best" rate they have to offer. This appliies to everyone - mortgage companies, auto dealerships, credit card companies, landlords, insurance agents, utilities - basically any one who uses a credit score. In addition to letting you know yoru credit score, you will recieve an explanation of the range of the score and a graph on how your score compares to other consumer scores. Here are some tips if you are not happy about your score: Contact the creditor who sent you your score and ask how many points are needed to get the best rates. If they tell you 15 or 20, it's fair...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
What's the first thing you do when you start working with a new client?  You ask the area, the type of home, the price range, etc. Next, you probably ask about their family, their employment and if they have been pre-qualified for a mortgage loan.  There are 5 mortgage qualifying situations that we have to be extra, super careful about.  So when you hear about any of these 5, call me right away so you won't be wasting your time showing homes! •Self-Employed Clients - A person is considered "self-employed" if they own 25% or more of any business.  This includes partnerships and LLCs. Not only do I need 2 years' tax returns, I have to have them sign a form, that's sent to the IRS to verify the numbers.   The red flags here are when someone says they have filed an extension-or they state t...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Yes, you can still get a loan with no down payment. I would just like to give you an idea about how your credit will be looked at. USDA has just gone to a 640 middle fico score to qualify for a USDA No Down Payment Home Loan. In other posts I have gone over many of the other advantages that this product offers. In today's market it is important to understand how your credit can have an impact on what you qualify for. The most important credit charectoristics that will be reviewed is the most recent 12 months credit profile. It is extremely important to monitor your credit report. If you have not had your credit report pulled, please check out www.annualcreditreport.com to have a tri-merged credit report pulled for free. You always want to have a tri-merged ( pulled from all 3 of the cre...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
If you have a conventional mortgage, and put less than 20% down when you purchased your home ( or less than 20% equity when you refinanced your home ) your monthly payment includes "mortgage insurance". Depending on your interest rate, for a 30- year term mortgage and if you put 5% down payment, it will take approximately 11 years to reach 78% loan to value; with 10% down, it will take you about 9 years, and with 15% down, 6 years. If you haev an FHA mortgage, mortage insurance is automatically included in your monthly payment. Both types of loans have certain rules where mortgage insurance must be eliminated after a certain period of time - and under certain conditions. Dropping Conventiona Mortgage Insurance Rules: Automatically Deleted When:                                           ...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Even if you aren't planning to buy a home in the near future, you may be considering doing so somewhere down the road (no pun intended). While real estate has been a good investment in the long term, there's a new way of thinking about buying your next home A home is not just an investment; it's a place to live.  Does the location fit your lifestyle?  Buying a home is a "social statement".  When you buy a big home, you are making a statement to family, friends, and neighbors.  Ask yourself how big of a "social statement" can you afford? If you have a steady job, matching your income with your mortgage payment and expenses is a good thing.  But if you are an entrepreneur or work on commission, it pays to be more conservative. Do you see yourself living there?  Sit in the dining & living ...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
With today's market it is not uncommen for us to run into some customer who have less than perfect credit. This does not mean with some adjustments you cannot be a qualified home buyer. We have a process in place that can help you get to the point of being a qualified home buyer. Because I want the best for you, I've put together some simple credit guidelines to follow during the loan process. This will help ensure the best possible outcome for you, which is what we all want. If you have any questions, please do not hesitate to contact me at any time so I can help DO NOT Apply for New Credit of Any Kind, including those " You have been pre-approved" crredit cards you may recieve in the mail DO NOT Settle or Pay off Collections during the Credit Enhancement Process. Settling or paying co...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Recently I have been writing a lot about the USDA No Down Payment Home Loan. Being a life long resident of Southern New Jersey, I wanted to try and bring some light to some area's that you would be suprised were eligible for this product. Wouldn't it be nice to purchase a nice condo in Kings Grant, Marlton, New Jersey by using a program that has NO DOWN PAYMENT REQUIREMENT, NO MONTHLY MORTGAGE INSURANCE, AND NO LIMIT TO SELLER CONCESSION?? There are many exapmples such as this. Below I will high light towns that are eligible for the USDA NJ and PA No Down Payment Home Loan: Burlington County - Medford Lakes, Shamong, portions of Mt. Laurel Twp, portions of Evesham Two, Delanco, Edgewater Park Township, Lumberton Township, Burlington City Camden County - all of Chesilhurst Twp and potion...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
The USDA does indeed set income limitations for qualifying for the USDA Rural Home Loan, but a little known fact is that most folks have "adjustments" to their income that will help them to qualify for the USDA Rural Development Home Loan. The USDA will Review two types of income for qualifying for the USDA Rural Development Home Loan: Adjusted Household Income Repayment Income (Gross Earnings) What do the USDA Rural Development Home Loan guidelines consider as "Adjusted Household Income"? It is basically gross income MINUS any eligible deductions. Here is a list of 7 eligible deductions for qualifying for a USDA Rural Development Home Loan. $480 deduction for each child under the age of 18 Verified childcare expenses $480 deduction for disabled dependents 18 years old or older $480 ded...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
I get asked a lot of questions about if collection accounts prohibit some one from getting into the No Down Payment Home Loan. It generally comes up very early in the conversation. Here i'd like to address this question to get the information out there. It's always a good idea to know what is on your credit report. It is crucial to review the information on the report, if there is something that is not reporting correctly we can help you get these items corrected. If you see collection accounts on the report you'll want to let your loan originator know about these right away because certain types of collections can have a negative impact on the ability for your lender to get clear, titl; which basically means that specific collection coul show up as a lien on the title. Usually simply p...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
This is the second installment of information of what underwriters considering when approving a client for a No Money Down Home Loan. In the first installment we went over the credit requirements. Today we will look at the 2nd most important factor; 2) Collateral While it may seem as simple as finding a house and buying a house, it isn't. The  No Down Payment Home Loan ( USDA )has some specific  collateral requirements that are unigue when compared to FHA or Conventional loan financing The first thing that will be looked at is if the property is located within a USDA eligible community. The USDA relies on a combination of census date and/or the distance from urban areas when they determine if a community is eligible or not. Let's take a look ata what collateral is generally acceptable f...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
You've seen the ads on TV.  Heard them on the radio. Billboards. The Newspaper. Spam e-mails.              The Internet. "If you have $10,000 In Credit Card Debt, We Can Reduce Your Debt by 50%" Debt settlement may be a vable option for some consumers - because the 2005 Bankruptcy Reform Act made it more difficult to file for bankruptcy, In assition, some employers are now requiring a credit report, which may make it more difficult to find a job if there is a bankruptcy is listed. However, since the beginning of the recession, the BBB has received almost 4,000 complaints about unscrupulous "debt-reduction companies" who charge upfront fees and dont deliever on their promises.  Enter-The FTC and new rules!  • Cannot Collect Up Front Fees - Debt-Settlement companies cannot collect any mo...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Starting in February 2010, persons under the age of 21 are no longer be able to get a credit card WITHOUT an adult co-signer - or PROOF that they have the income to repay the credit card.   In the past, credit card companies rushed to college campuses (even some high schools) to sign up students who had no visible means of ever repaying the credit card.  Since they had no income to even make the minimum payments-it's ruined their credit for many years to come.  Ideally, you might want to start the process when your child reaches age 16. Even if you consider co-signing a credit card for your child, there are a couple of steps you can take so make sure they understand how to use credit cards wisely.  Step 1 - Open up a checking account and ask for a debit card to include with the account....
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
An Energy Audit could cost you $500.  Some utility companies will do them for free.  But you can easily do your own energy audit-so you can get a general idea of what needs to be fixed/updated-and THEN, hire an expert to help you.  Here's a checklist of the problem areas that may need energy-efficient upgrades:     Air Leaks: On a windy or cool day, check to see if air can flow thru these places:Loose (ill fitting) baseboards; window frames; electrical outlets/switches;Doors; attic hatch; fireplace; wall-mounted air conditioning units; foundation seals; door mail slots; corners on exterior of home; chimney where siding and roof meet.  An easy way to find "air leaks" inside the home is to close all doors, windows and use an incense stick.  The moving air will cause the smoke to waver.   ...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Have you ever been to an in-home wine tasting? For most the concept is brand new, but it is gaining popularity among wine lovers and newbies alike The in-home wine tasting experience provides a unique atmosphere to grow business. When people get together for food and wine, conversation flows easily. Would you love a unique wa to develop better relationships with yoru existing customers and gather leads from them effortlessly? It is easier than you think! Most of the people who come to these tastings are people who would qualify as a good mortgage or real estate leads. They are all of the home ownership age and have steady income. Wines range any way from $12-$32 a bottle, so you do the math. The host holds the tastings in their home with their friends. Do you know people who enjoy wine?...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
For the most part, the value of real estate has plummeted.  But why have property taxes risen over the past few years?  The short answer:  Owners have not regularly appealed their tax assessment-and even fewer people know that they have the option to do so.  The Wall Street Journal reported that taxpayers have filed about 24,000 lawsuits (so far), protesting their assessments. The National Association of Realtors® also estimates that almost 60% of all homes are over-assessed. And the odds are that your tax bill has not been adjusted downward-if the value of your home is declining!  First, check with your county tax assessor-that's where it all starts!   Each county has their specific set of rules and procedures that you must follow in order to appeal the assessment value of your home.  ...
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By Jamie Russen, 100% Financing Specialist
(Jamie Russen - Greentree Mortgage)
Did you know that one of the popular loans right now is the 30 year fixed "no closing costs loan". Some lenders want you to think it's a magic trick. Today I'm going to reveal to you how it's done. Here's how it works. The loans come at a slightly higher interest rate and then the lender pays your closing costs with the bonus they get by quoting you a higher rate than a "you pay the closing costs" loan. Don't get me wrong, I think this is a great program and recommend it for many of my clients. For example, let's say you have a $200,000 loan at a 7% interest rate. If you refinance to a 6.25% rate, it would save you about $98 per month. But, if the closing costs would then be $3,000, it would take about 2 1/2 or 3 years to break even on the costs. In other words, it would take about 3 ye...
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By Janet Larsen, Don't Just List Your Home, SELL IT!
(Berkshire Hathaway, HomeServices Fox and Roach, Realtors)
That's right! Now you can download a free application with no gimmicks and search homes, GPS, taxes, any information at all for your home search. Simply text the word Home100 to 87778 Or as always call your local FULL TIME Broker/Associate, Janet Larsen, Remax Connection directly at 856-261-6910 or offc: 856-415-1210, ext. 321
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