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| January 2010 |
Personal. Distinctive. Real. | |
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| Greetings! |
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Welcome to 2010. New Good Faith Estimates.
New HUD-1 Settlement Statements. New football coaches.
Quite frankly, all this change is becoming old hat.
One change we eagerly anticipated was the busiest January we have ever experienced. Although we were prepared to wait for the beginning of 2010, we saw a serious spike in applications for refinances and purchases the Monday after Christmas and it appears as if we are well on our way to meeting those expectations.
Something that has NOT changed are the historically low interest rates. I could not even begin to speculate as to when they may go up - but I know at some point - they will.
It's a New Year friends. New goals.
New hopes.
I guess ALL changes aren't bad. |
| Newly Revised Tax Credits |
The Worker, Homeownership, and Business Assistance Act of 2009 was signed into effect on November 6, 2009. This Act extended the original 1st-time homebuyers tax credit AND created a tax credit for buyers who currently own a home.
Due to the immense amount of information regarding both tax credits, we feel a short newsletter article could not possibly begin to inform the consumer of everything they need to know and be aware of.
Therefore, please visit the Tax Credits & You page on our website for all the restrictions and benefits of these exciting tax credits. |
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Contact Us |
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(865) 692-0899
Click on below names for e-mail.
Managing Partner
Loan Officers
or visit
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| More Revision: FHA adopts HVCC |
The Home Valuation Code of Conduct (HVCC) has changed our industry. The independent, lottery based system of assigning appraisers was originally created to police Fannie Mae and Freddie Mac mortgages. However, beginning on February 15th, all FHA appraisals will be forced to also succumb to the system imposed by the HVCC.
Peoples Mortgage, Inc has embraced the changes brought about by HVCC and will continue to be earnest in complying with all it's standards. Prior to HVCC, we have been fortunate to accumulate the type of experience that only 12 years in the business can provide. This experience enables us to research the home's value BEFORE spending our customers's money on an appraisal. If you are working with a lender who seems overly eager to collect your (or your customer's) appraisal deposit, ask to see his value research first. It's within your rights as a consumer and ... it's your money!
These years of experience have also taught us that we can always learn more. So if you have a moment, please go to HVCC Horror Stories and share with us your battle scars. |
| For Our Customers: Networking - By You, For You |
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Most people would agree that networking is something they should do more often. It's easy to put off. And sometimes it's downright uncomfortable.
Remind YOU of anything....
Over the past several years, we have been privileged to serve a diverse customer base. This customer base, and the referrals that spring from it, are the lifeline of Peoples Mortgage. This base includes a multitude of self-employed borrowers and customers who are in sales-related positions. We have many more customers who have chosen to pursue various entrepreneurial endeavors as a second job. We also include the various real estate professionals, bankers and financial consultants amongst those who trust us enough to put their professional reputations at stake by referring THEIR customers to US.
With that being said, Peoles Mortgage would like to invite you to participate in another Customer Appreciation event created by US for YOU. This simple, networking effort is another way we hope to thank you for your loyalty.
Please forward your company logo and web site address to the e-mail address provided below. I will promptly display your information on Our Networking Community page with our other valued, networking customers.
Please contact me should you have any questions or concerns. |
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Looks like most of the change above is positive. I would encourage you all to start the year off by viewing 2010 in the same positive light.
Please continue to refer us to your friends, family and co-workers! The combination of reduced home prices, motivated sellers, low home loan rates, and the potential of a juicy tax credit is too great an opportunity to miss.
Ronnie Wilson
Peoples Mortgage, Inc.
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