Rates are low, very low, historically low, but can you refinance? This is a question that many homeowners are asking themselves, with many not even trying because while they are reading about the incredibly low rates they are also reading how hard it is to secure these rates. Homeowners have been extremely challenged in recent years and not many feel up to another challenge. However, if you could acquire a rate of 3.5% or lower, wouldn’t you want to?

Imagine how much a homeowner could save over the lifetime of a loan if he had a loan of 3.5% compared with 5.5% or higher. 5.5% is a great rate, but let’s face it two whole percentage points makes a big difference in monthly payments and a HUGE savings over the time that you hold a loan.

So, is refinancing your home a possibility and is approval for today’s low rates possible? Hopefully! A recent article from the Wall Street Journal, “Getting the Best Refinancing Deal” suggests that even if you can’t get the lowest rate possible you will get a low rate and it is worth the effort. Your best shot at refinancing success starts with cleaning up your credit and having all of your financial documentation in order.

Click here to read “Getting the Best Refinancing Deal” from the Wall Street Journal.

 Sourced from: Kinetic Content Library

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

Navigating the short sale process can be a daunting process to say the least, luckily these days there are many real estate professionals that can help. A CDPE is a certified distressed property expert, one who has been through an education process and gained real life experience with regards to buying and selling distressed properties. A short sale is a great way to sell your home while avoiding foreclosure. However, this process is neither easy nor quick.

Patience is a virtue and reminding yourself of this on a daily basis is key if you are going to make it through a short sale transaction. While you may get your paperwork to the lender in a timely manner, the length of time that it takes a lender to follow through can be long and slow. Of course this will be followed by more paperwork too!

One important piece of the short sale puzzle is the hardship letter. There is no prototype here, no legal definition of what the letter should contain. Clearly to be accepted for a short sale you need to show why you are in this position and why your hardship deserves consideration. Some situations that fall under the hardship category include: job loss, divorce, death of an immediate family member, too much debt, high medical bills, and so on.

A short sale transaction is an experience, one which is made easier with professional help. Stay the course and a successful short sale can help you avoid foreclosure and ease your burden in the long run.

Click here for more information on the short sale process from House Logic.

 

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

Rates are low, very low, historically low, but can you refinance? This is a question that many homeowners are asking themselves, with many not even trying because while they are reading about the incredibly low rates they are also reading how hard it is to secure these rates. Homeowners have been extremely challenged in recent years and not many feel up to another challenge. However, if you could acquire a rate of 3.5% or lower, wouldn’t you want to?

Imagine how much a homeowner could save over the lifetime of a loan if he had a loan of 3.5% compared with 5.5% or higher. 5.5% is a great rate, but let’s face it two whole percentage points makes a big difference in monthly payments and a HUGE savings over the time that you hold a loan.

So, is refinancing your home a possibility and is approval for today’s low rates possible? Hopefully! A recent article from the Wall Street Journal, “Getting the Best Refinancing Deal” suggests that even if you can’t get the lowest rate possible you will get a low rate and it is worth the effort. Your best shot at refinancing success starts with cleaning up your credit and having all of your financial documentation in order.

Click here to read “Getting the Best Refinancing Deal” from the Wall Street Journal.

 

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

‘Tis the season for spring cleaning. April 1st is here which means petunias and orange blossums will be popping up, if they haven’t already, and that urge to scrub and scour our homes will be bubbling to the surface. While many of us envision spring cleaning as the time to pick up our rugs and bring them out doors to beat with a broom stick, and dust every nook and cranny of our homes, it is absolutely mindboggling how exact of a science spring cleaning can really be. All you have to do is Google it.

When you Google “Spring Cleaning” numerous pages pop up. There are checklists for the kitchen, the bedroom, the garage, and the bathroom, and each checklist holds many items. So, what do you do if you hate to clean but you don’t want to spend the money on a cleaning service? You have to look at yourself in the mirror, tell yourself that spring cleaning is necessary for your health and the health of your home, and get yourself into cleaning mode.

Few people LOVE to clean. Luckily there is plenty of advice out there to set us straight! Click hereto read “Spring Cleaning the Anti-Martha Way”, from House Logic, offering advice for normal people on how to clean a normal home.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

 

 

 

 

 

 

 

 

 

Did you know?

• Happiness can lengthen life. A recent study measured the positive emotional states of nearly 4,000 people aged 52-79 and followed them for an average of five years, tracking their subsequent death rates. Those with high levels of positive emotion were 35% less likely to die during the subsequent period than those who experience low levels of positive emotion (after controlling for other factors). [2]
• Happy people have been found to be significantly less likely to catch the cold virus than their less happy peers; and if they do contract the virus they tend to report fewer symptoms. [3]
• Doing good is one of the best ways to feel good. People who care more about others are happier than those who care less about others. When people do good, their brain becomes active in the same reward centre as where they experience other rewards. [4] Studies show that giving money away makes people happier than spending it on themselves. [5] 
• People who take a basic course in mindfulness training are on average 20% happier than a control group one month later and have better responses in their immune system. Such training can lead to structural brain changes including increased grey-matter density in the hippocampus, known to be important for learning and memory, and in structures associated with self-awareness and compassion. [6]
• Our happiness influences the people we know and the people they know. Research shows that the happiness of a close contact increases the chance of being happy by 15%. The happiness of a 2nd-degree contact (e.g. friend’s spouse) increases it by 10% and the happiness of a 3rd-degree contact (e.g. friend of a friend of a friend) by 6%. [7]

http://www.actionforhappiness.org/

 

 

 

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

Living green and being green is getting easier and easier for home owners these days as new products, new technology, and education pave the way for environmental awareness. From simple conservation to building choices, reducing one’s carbon footprint is not only easier but more of a priority.

Recycling is one of the most obvious ways that communities get involved with protecting mother earth. It is becoming rarer and rarer to find places where recycling is not offered, and recycling allows for a reduction in garbage as well as an opportunity to reuse and recycle items time and time again.

Simple ways to be kinder to the earth involve simple home supplies. Almost any store you enter these days has green options for items from soap to paint and everything in between. These items are often made from natural ingredients, containing no chemicals, and therefore when used have a gentle direct impact on your local environment.

In addition, there countless home materials in use today which are considered earth friendly. From flooring and tiles to light bulbs and appliances, energy efficiency and environmentally friendly have taken on new meanings. Living better and being better have combined to create lifestyle choices in the home, and often better choices make for better profits when it comes to real estate.

Click here to read “15 Tips for Living Green” from Realty Times.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

Your home can be green and act green during the holidays. Let’s face it, the holidays can turn a home into an energy tornado, not to mention a killer of mother nature by using up all the evergreen plant life possible. But there are many steps that can be taken to reduce your home’s holiday carbon footprint and help you end the year on a good note.

As far as Christmas greenery goes, there are artificial options that can make sense but they are not always the best option. Many fake greens are somewhat toxic, made of PVC and often emitting fumes, so it is best to make sure there is plenty of ventilation in tight spaces. Also, many believe that fake trees and wreaths save countless trees each year, but many of these products are made overseas and in fact taking business away from local purveyors.

Most Christmas trees are grown on tree farms, specifically for this time of year. These trees are great for the environment as they process carbon dioxide and add oxygen to our air. Check your tree lots and make sure you are buying local trees, the farther away they come from, the more fuel is used for transportation.

Then of course there are solar lights to choose these days for holiday lights. Just imagine the savings on your electric bills!

There are countless ways to enjoy the holidays throughout your home and still save the planet! Click hereto read “Solar Christmas Lights: Should You Make the Switch?” from House Logic.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

The word on the street is that you should buy real estate, not stocks. There is a lot that can be said for this piece of advice. Let’s face it, you could buy a stock today and see it drop tomorrow, and the last couple of weeks have seen a lot of drops. Certainly the same could be said for real estate, the past few years have definitely seen dramatic drops, but overall real estate can offer a more steady investment over time.

Unlike investing in stocks, housing can help pay for itself through tax write-offs and rental income. While there are some stocks that offer dividends, for the most part you buy at one price, and sell for another.

In addition, most real estate markets appear to be bumping along the bottom. While many areas continue to see drops in home prices, the drops do appear to be less dramatic. Affordability levels are better than they have been in 50 years, another great incentive to invest in property.

Overall, housing appears more stable than the stock market at the moment, combine that with the ability for your investment to help pay itself off and real estate seems like the place to be. After-all, it’s definitely a buyers market out there!

Click here to read “Forget the Market. Buy a House”, from Smart Money.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

Mortgage rates are offering good and bad news these days. The good news is that rates have hit 60 year lows, much better than the 50 year lows met a week or two ago. The bad news is that many cannot take advantage of these rates thanks to a lagging economy and a sagging job market. Ideally these low rates are great for the economy, saving people money on their monthly mortgage payments and leaving them more money to spend elsewhere.

What is the current low rate? 4.12% for a 30 year fixed rate mortgage. Who can get this rate? Someone with impeccable credit, steady employment, and money for a down payment on a home. A low mortgage rate can save a home buyer a significant amount of money over the lifetime of a loan, so refinancing real estate could be worth looking into as well.

The low rates are a product of the poor state of the nation’s economy. The people who benefit the most are, unfortunately, those who have been hurt the least, people who still have great credit. Low rates are great for buying real estate, so if you can qualify for a loan you may just want to get out and take a look at today’s great deals!

Click here to read “Mortgage Rates Attain New All-Time Record Lows Again”, from Realty Times.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter

Good credit is essential in securing a loan these days, excellent credit is even better. In many cases a few points can mean all the difference in helping sink your chances or elevate your opportunities, therefore helping your credit be as good as it can be is of the essence. Below are a few common scenarios that could pop up on your credit report, and how to approach them.

Paying off account balances is a great idea and reduces your available credit/credit balance ratio (an important piece of information that lenders examine), but they need to show as paid on your credit report. If you have recently paid off account balances make sure that they appear as paid and not outstanding or overdue.

Make certain that any unpaid bills that appear on your credit report are actually yours. Surprisingly enough often mistakes occur on credit reports that actually belong to someone else. Additionally, any bills tied to former addresses should be looked for as well.

Look at your credit limits. Are they listed correctly. Higher limits with larger unused percentages will place you in better standing. Similarly lower limits with more higher used percentages can limit the loan size you could be entitled to.

The bottom line is that it is in your best interest to examine your credit report with a fine tooth comb. Small errors can make a difference, and in today’s tight lending market this could be a difference that you can’t afford to have. The small costs involved with making repairs to your credit report are worth it in the long run

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
Follow Me on Twitter