Brentwood Home Sales for Jan 2010 were as follows

• 25 Brentwood Homes were sold in January
• 70 homes are under contract at the end of the month
• 369 Brentwood homes are available and not under contract
• The average size of Brentwood homes sold was 4197 square ft
• The average sales price of Brentwood homes sold in January was $577,644
• The average sold price to list price comparison was 97 percent

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Looking for a great Lunch in Cool Springs, TN - Try Maniac's

Located in Cool Springs, TN, this is a great restaurant. They have a simple menu featuring Chicken. Chicken Tenders, batter dipped or grilled, Chicken wings, a signature Chicken Sandwich, The Cajun Love Sandwich, you will find something to delight your palette if you are looking for Chicken. I have eaten there several times and have enjoyed it each and every time. Prices are moderate. The service is excellent. Be sure to arrive early as the place packs them in for lunch. They do move the traffic through so if you do have to wait it will not be for long. Enjoy.

Maniac's - 99 Seaboard Lane,

Suite 500, Brentwood, TN 37027

615-370-2803

As always, if you have any questions regarding a Home Mortgage Loan in Franklin/Brentwood, TN please call me at 615-243-1301 or email me at lee.barroll@fcmhomeloans.com

When can I drop my Mortgage Insurance on my home in Franklin Tennessee?

When can I drop my Mortgage Insurance on my home in Franklin Tennessee? This is a question I hear frequently primarily due to the loss of the 80/20 or 100% purchase loan. In today's market if you do not have 20% to put down you are going to pay some form on Mortgage Insurance. Either Primary Mortgage Insurance (PMI) on the Conventional Loan or Mortgage insurance Premium (MIP) on the FHA side. The exceptions are with VA Loans and USDA/Rural loans.

What is Mortgage Insurance?

Private Mortgage Insurance is a policy that covers the mortgage company in the event the home buyer defaults on the mortgage note. It is commonly referred to as "MI" and is usually obtained through the mortgage company.

Mortgage Insurance does not cover the real property but rather the Mortgage Note. It comes under the category of Contract Performance Insurance and is in the Property and Casualty line. The term "private mortgage insurance" differentiates it from government insurance. Loan products such as FHA, VA and USDA Rural Housing loans also carry insurance but it is from the government and is built into the cost of the loan, rather than being purchased separately.

So how do I get rid of it?

Fannie Mae and Freddie pretty say you can request the lender drop the PMI once the balance of the loan reaches 80% of the appraised value of the property at the time of the loan. There is no seasoning requirement. An important thing to note is that the payment must be current with no 30 days past due in the previous 12 months and no 60 days past due in the preceding 24 months. In accordance with the Homeowners Protection Act (HPA) of 1999 provides for the automatic termination of PMI at the 78% Loan to value of the original valuation at the time of the loan. See the chart provided by Genworth Financial.

What about MIP? The government Insurance?

MIP is the HUD funded Mortgage Insurance provided for FHA Loans. It is designed to encourage lenders to make credit available in areas and to borrowers who might not otherwise qualify for conventional loans on affordable terms. FHA loans have become a larger percentage of the total market as they have lower down payment requirements and currently there are few adjustments to the rate for lower credit scores.

There are two forms for this insurance. The UP/Front MIP which is rolled on top of the loan amount and the monthly premium. The borrower can request the monthly premium be removed when the loan to value reaches 78% of the value at the time of the loan. However they must have a 5 year history of good payments. Like PMI, MIP is automatically removed at 78% loan to value as long as there is 60 month payment history IAW the HPA of 1999.

The difference regarding removal of the mortgage insurance is this. Conventional has a 12 month payment history and FHA requires 60 month payment history.

Brentwood TN Chinese Worship Service is Official at Brentwood Baptist Church!

Brentwood Baptist Church's Chinese ministry has begun to meet on Sundays in the new Baskin Chapel. They are currently being led by Scott Harris, the missions minister. The sermon is being preached in English while Sun Lu interprets for him. They are currently seeking a Chinese minister for this new ministry.

"The Chinese word is very condensed. It can capture in one word in Chinese that is a paragraph or several sentences in English. When we say it in Chinese, it reveals to us a deeper meaning, so that's why it's important to worship in Chinese" said Suk-Lee Winsor, a founding member of the Chinese ministry as quoted in the Tennessean.

While the group of 80 have a weekly Bible study on Sunday mornings, their service is only taking place once a month. The other Sundays they attend the regular services at the Church. Their long term goal is to grow their membership and have weekly worship services.

They families children are all deeply emersed in the English culture but for obvious reasons want to make sure that they don't loose their connection to their Chinese culture.

This group started at Brentwood Baptist Church in 2004 with 4 families.

The Chinese ministry is one of many at Brentwood Baptist Church. There are very strong Hispanic and Deaf ministries. There is a Deaf Church attached to the main Church on Concord Road.

To find out more about any of these please contact:

Chinese ministry email sukleewinsor@yahoo.com

Hispanic ministry email ramonmartin@bellsouth.net

Deaf ministry call 615-324-6100

Connie Harveyis a local agent with Prudential Woodmont Realty, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals.

Connie can be reached at 615-661-7800 x 1300 or at HarveyC@realtracs.

Follow her Blog: Nashville Tennessee Living

Brentwood Home Sales for January 2009 were 19 condos sold; Single family homes under $300,000 - 4; between $300,000 to $500,000 - 11 ; between $500,000 and $700,000 - 3; $700,000 to 1 million - 5; and over 1 million dollars 2.