Tolland, CT

“Refinancing an 8% Mortgage in Tolland CT”

That’s right 8%! You would be shocked how many 6% to 8% mortgages are still out there. Bill was referred by his neighbor, actually for over a year. Here was a 6' plus imposing figure of a man, when asked why have you not refinanced before this, he answered “THE PROCESS SCARES ME TO DEATH”. He also distrusted anyone in the mortgage business, also mentioned he didn’t have much use for the banks, as they are in the news every day, for something shady.

He told me that in 2006 he had some financial difficulty and needed to take some equity out of his home to pay for some medical bills. Because his credit was not perfect, he had to get one of “THOSE” mortgages. He of course was referring to a subprime mortgage. Not willing to take and adjustable option at a lower rate and refinance, he opted for an 8% fixed rate. This option also had a 5 year prepayment penalty.

He saw himself paying this mortgage for the remaining 24 years, but the neighbors just kept pestering him, as he put, for over a year.

I spent an hour, before even opening my computer, just talking. We talked about how a “telemarketer”, called him one night and got him into this mortgage. He said the process took 4 months, when it was just about over, two people came to his house for him to sign the mortgage papers. This was not uncommon. We talked about his son, who was handicapped and lived at home. He was very proud of his son and his many accomplishments. Politics and football were also topics we covered. He made it very clear he disliked the current administration and how he would love another Patriots championship. How do you not like this guy?

WOW, I needed to fix, what was done 6 years ago. When I ran his credit, the mid score was 752. He had been at the same job for 19 years. Besides the old mortgage, 2 credit card (both nearly 30% interest), plus a tractor loan were all included in the mortgage. His new mortgage was $162,000, at 3.5% for 15 years. His new payment was $694 less than he was paying and will save $108,000 in interest, going from the 24 remaining years, down to 15 years.

Bill wasn’t the kind of person to share much emotion, but he looked like tears would start any moment, but he got up and said, “Thank You”. He said he was going to see his neighbors and thank them as well. He had told them, he would stop by after our appointment.

I love what I do for a living!

images: salvatore vuono/freedigitalphotos.net

2011 Holiday Open House at Birch Mountain Pottery!

This Saturday, December 3, 2011, is the annual Holiday Open House at Birch Mountain Pottery in Tolland CT!  The festivities begin at 10:00 a.m. and go until 4:00 p.m.  Susan Gerr, owner of Birch Mountain Pottery, has been busy creating one-of-a-kind gifts that will be perfect for anyone on your list. You will find beautiful mugs, serving dishes, bowls, vases, sushi sets, and other gifts that you won't find anywhere else.  If you want a sneak peak at her beautiful work, you can see the gallery.

In addition to her beautiful pottery, she also showcases other artisans who have created jewelry, baskets, textiles, photography, carved wood items, soaps and lotions, etc.  You will be sure to find the perfect gifts!

Delicious holiday-inspired refreshments will also be on hand in case you work up an appetite shopping.  You can also enjoy the beautiful music of Dave Elwell.  Be sure to stop in anytime between 10:00 and 4:00 to jumpstart your holiday season.  Birch Mountain Pottery is located at 223 Merrow Road in Tolland CT. 

For additional information, contact Birch Mountain Pottery at 860-875-0149.

Can you relate to this?

So today could be a really bad day, OR a really great day...

I'm not really sure why I am even writing this, but I wanted to share what I have learned from 15 plus years of credit repair.

1) The legal system is flawed. No big surprise here.

I respect the institution, but a lot of the times the court system causes more harm than good.

2) Never Give Up. Ever.

And when I say "ever" I mean it. Till the last breath of air has been stolen from your lungs, you keep fighting.

You have to have a willingness to go the distance in life and in business.

Broken, beaten, bloody, no matter what. GET BACK UP.

I can tell you it has not been easy, there has been days when it took ever ounce of willpower I have.

But when it comes to your kids, or your loved ones. There is never a moment you should stop fighting for what's best for them.

So today I will be going to fight another credit agency for one of my clients and his family!

And I could leave the battle with joy, or with utter sadness.

But regardless of the outcome. Regardless of the situation.

You always have control over how you deal with those circumstances.

You always have control over the meaning you associate with events in your life.

These events can either define you as a victim, or they can be the reason why to fight another day.

So no matter what you are going through in your personal or professional life. Remember, never give up, and you do have a say in how you choose to move forward from today.

We are not our pasts, and every day is a gift that comes with the opportunity to do better for ourselves, our customers, our friends, and our families.

Keep on fighting my friend,

☺

Matt

Toll Free: 888-NCFIXER (623-4937)
Toll Free Fax: 888-FAX-4020 (329-4020)
Local: 860-282-6181
330 Roberts Street Suite 402
East Hartford, CT 06108

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Tolland CT Market Report for September 2011

It was a stunning September for Tolland CT real estate.  Posting the highest month in 2011, September came in at 20 closed sales with a median price of $297,575.  This September also showed significant gains over last September, which had 10 closed sales with a median price of $234,000. 

Here is the breakdown by price range:

What was behind this jump in sales? We can only speculate, but Tolland has always been prized for its school system and it was named one of the top places to live by Money Magazine.  Did people read that and decide to take the plunge? Or were people just trying to get settled at the start of the school year? Or is this truly a turnaround for Tolland real estate?  We will have to wait and see what the next few months show; however, there are currently 9 homes under contract and 14 under deposit.

Median prices have shown great variability, but the past several months have seen fairly stable levels--and good ones at that (from sellers' perspectives)!  Here is a recap of closed sales and median prices by month for 2011:

There are currently 105 homes on the market, ranging in price from $115,000 for a three-bedroom, 1.1 bath split level to a $1.3 million six-bedroom, five-bath colonial/cape with 4500 sq. ft.  The median price is $299,900.  Given the current levels of inventory, the absorption rate in Tolland CT is 6.4 months, which is clearly a neutral market.  This is great news for sellers in Tolland CT.  If you are interested in finding out what is on the market in Tolland CT, you can enter your search criteria and see for yourself.  If you prefer, contact me and I will be glad to help you with your search.