Merry Christmas

I want to wish you and your family a very Merry Christmas season and a Happy and Safe New Year. I ask you to remember the folks that are not as fortunate. It is cold and we have many needy among us. Also, please not get so caught up in the hustle and bustle that we forget that Jesus is the reason for the season! Have a Wonderful Hoiday Season!
George

Wild Speculations!

This 4.5% mortgage rate speculation is spreading like wildfire and fast taking on some of the characteristics of an “urban legend.” There are lobbyists who are trying to get mortgage rates lowered to 4.5%. As usual the press is being the press and getting people all stirred up when they don’t know anymore than we do. No one knows what will happen.

I had people call me yesterday with: 1) Rates are going to 4.5% on Monday and will be at 4.5% for a year and 2) All mortgage loans are going to be required to have 4.5% rates (even existing mortgages). I just don’t see either of those scenarios happening. It is possible if the Fed continues to buy the mortgage backed securities that we will see rates come down a bit more. I really don’t see them “posting” a mortgage rate of 4.5% and leaving it there. Rates this last 18 months have been wildly fluctuating. Until this most recent dip in rates the noticeable decreases in rate have basically been for a blink of an eye; increases in rate have been more predominate in the market this year.

Our Vice President of secondary marketing thinks that rates could drop; “could” being the key word. How much and for how long? Nobody knows. I would suggest selecting a realistic target rate and when it gets there lock it. Then quit shopping and don’t second guess your decision. I will even watch for that rate for you and let you know when we get it. You do need to be prepared to act quickly when your target rate is reached as there is no guarantee how long it will be around.

Not many folks are fortunate enough to truly hit the bottom of the market. After 30 years in the business I have never managed to get the lowest rate on my personal loan. Hitting the bottom of the market involves a lot of luck. The media does not know what is going to happen; the politicians do not know what is going to happen; I do not know what is going to happen. Anyone that is running around “predicting” what will happen to rates has a 50% chance of being right; they will definitely go up or down.

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This was written by my friend Terre Webb. I couldn’t say it any better myself so I used her quotes. With that said I will say that the rates today in the lower 5’s are fantastic. To see how that would affect your numbers let me know and the numbers I provide you will cost you nothing. I have closed my own refinance by the time you get this. That is how much I think the rate is going to come down more.

Also this is from Mortgage Market Guide a periodical we receive

The Fed has indicated that they would like to be a buyer of Mortgage Bonds, which has resulted in attractive, lower rates right now. But as stated above, the trading environment is extremely volatile, and opportunities to capitalize on lower rates that make sense should be taken advantage of. There have been recent rumors of interest rates being brought down towards 4.5% by the Treasury. This irresponsible release included no definitive plan, no indication of who might qualify, or what the restrictions would be. Like many other recent legislative "solutions", the restrictions might be very tight, with income limits set very low, and as a result, helping very few people. Remember, it may make sense for you to act now, and take advantage of current historically low rates...with the possibility of refinancing should rates decline further.

Profit From Today's Slowdown

The super rich are getting richer. Cash is King. Warren Buffett is salivating.

What does this have to do with us? Unless you own a home in the upper prices ranges of our market (and only a small percentage of my readers own these homes)

You too can profit. Lets say you have a $300,000 home (or it was worth that last year). Lets say you can sell it now for $260,000. Then you can buy that dream home that was a half million dollar home for say $430,000. You took a $40,000 loss but picked up $$70,000 and got your dream home.

Similarly the first time buyer can buy a home with prices rolled back to those early in this decade.

Almost everybody wins.


Credit Card Scams You Need to Know About

How To Avoid These Common Credit Card Scams

In a perfect world, credit card scams would not exist. Unfortunately we don't live in a perfect world. The scams abound and the scammers seem to breed like rabbits. If you want to avoid credit card threats you need to know what common credit card scams to look out for. Here are the ones most likely to hit you at one point or another.

Let Me Take Your Card To The Back

This is when someone at a restaurant or other business needs to take your credit card "to the back" to run your transaction. There's no guarantee that those people won't copy your credit card details when you're not looking. In fact, it's been done many many times to other innocent cardholders.

To avoid this scam only pay by credit card when you can see exactly what they are doing with your card at all times. In all other situations, pay cash.

I Need Your Those Three Digits

This scam happens when someone calls you pretending to be from the security department of your credit card company. Supposedly there's been suspicious activity on your card and they have to verify that you're in possession of the card. They ask you to read the three digit "security code" on the back.
While that is indeed as security number, it's not your credit card company calling. It's another one of those annoyingly-deceptive credit card scams. When you get this call it means that a scammer already has your credit card number and expiration date. He just needed those three little numbers on the back of your card. If you fall for the scam, he got them.

You've Been Approved

This scam is also done over the phone. You get call saying you've been approved for a great credit card. High limit, low interest rate - what more could you ask for? Of course you want to jump on the deal so you go for it.

To process your new account the person on the phone needs to verify just a few things. Your name, social security number, address, phone number and income. Don't fall for it.
If you are ever pre-approved for a card, they'll send you something in the mail and you'll need to call them. No credit card company is going to call you over the phone asking for such personal information. Do yourself a favor. Next time you get a call like this, tell the person you need a number where you can call them back. Call the authorities with the time of the call and give them the number. It's the only way to stop these credit card scams.


Be Weary, Be Wise

While you don't want to feel as though you're paranoid or overly-suspicious, the fact of the matter is that we live in a changing world and credit card scams are becoming more and more common. Do yourself a favor and protect yourself from these scams. Be on the lookout at all times and keep the above information in mind.

http://www.creditcardwhizkid.com/2008/06/credit-card-scams-you-need-to-know-about.html

Sent by Jennifer Hamby


"Where is Your Paint Can?"

A man landed a job painting the yellow line down the center of the highway, by hand. After three days his foreman complained about the job he was doing. "Your first day out, you did great," he said. "You painted that line for three miles. Your second day wasn't bad. You painted two miles. But today you painted only one mile, so it looks like I will have to fire you."

On his way out of the foreman's office, the employee looked back and said, "It's not my fault. Everyday I got further and further from the paint can."

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This humorous story illustrates how we can complicate our lives at work and at home, if we are lacking insight into how we create additional stresses in our lives. Many times we look to a time management seminar or a book to tell us how to gain more time. Perhaps, we might do better to ask, "How can I simplify my life?"

Here is a brief questionnaire that can be used to evaluate whether you are unnecessarily making your tasks more difficult.

1. What systems do I have, or need, that will make sure that I use my time, resources and materials in a practical manner?
2. In what ways am I making my job more difficult because I walk back and forth between the unfinished "yellow line" and my paint can?
3. Have I let a habit lock me into a routine that is not only counter productive, but also costs me time and a peaceful existence?
4. How can I further simply my life at work and home so that I feel more in control and more productive?
5. What unnecessary steps can I eliminate at work that will reduce the stress that I feel?

Like the man painting the yellow line by hand, if we fail to plan how to accomplish a task. We then lose sight of our ability to re-evaluate our activities and we may find ourselves walking the same path over and over again, but accomplishing less and less. If this becomes a habit, we may find ourselves on the road to burnout.

Taking a few minutes to analyze situations in which we have left our paint can far behind, rather than bringing it along, can lead to a happier more productive life.
www.workplaceissues.com