Darrell Walters

In recognition of Earth Day, here are 5 tips for a more energy efficient home:

1. Keep doors sealed. By caulking, weather-stripping, and even painting regularly you can keep your doors airtight.
   
2. Insulate, insulate, insulate. Many people insulate the attic, but don't forget to insulate the basement or the crawl space. Combined 20 percent of energy is lost from these areas.
   
3. Reuse. If you're starting a home renovation product consider reusing old materials such as brick, stone, or slate. They require less energy, they can add character to a project, and are generally less expensive.
   
4. Open the windows. In warmer weather use fans and have the windows open. Fans use significantly less energy than an air conditioning unit.
   
5. Audit your home. Visit this site or contact your local energy provider for an energy audit. Audits can find problem areas and help find ways to improve your home's energy efficiency.

For more tips visit the US Environmental Protection Agency and the US Department of Energy's website http://www.energystar.gov/.

The media has announced that now is the time to buy your home and in order to assist you in the process, here a few suggestions to make the process a little smoother.

1. Understand your credit. Poor credit can significantly impact your mortgage rate or even your ability to be approved for a mortgage. Check out this website to help resolve errors and work to get them corrected.


2. Gather your financial documents. It may take some time, but it is a necessary step with credit guidelines tight. Prepare your previous 2 years tax returns, W-2s, current mortgage statements, one month's paystubs, and two month's bank statements for all accounts.


3. Work with a lender to get prequalified or preapproved. By working with several lenders in a short period of time you can find the best rate and your credit score should not be damaged. Also, if you find a lender with a rate that is acceptable to you and the closing costs fit what you are looking for, move quickly. Rates can change multiple times in a given day. Therefore the rate you were quoted in the morning could not be available in the afternoon.


4. Remember the first time home buyer tax credit. For more information on the tax credit, check out this blog post. Also, you can get a copy of the IRS Form 5405 to have ready for your tax returns.

When you start looking for your new home, contact me by email or call 678.648.5629 for your free financial consultation.

Visit msnbc.com for Breaking News, World News, and News about the Economy

In a recent round table, President Obama urged Americans to take advantage of historically low interest rates and refinance under his new housing plan. The question is who qualifies for Obama’s Making Home Affordable Plan and the answer may surprise you. According to the Making Home Affordable fact sheet, there are a few keys to determining eligibility for the program and they include the following:

1. You are the owner and occupant of the one to four unit home that you are refinancing.
2. You must be current on your home loan with no 30 day lates allowed in the previous 12 months. Or if you’ve owned the home for less than 12 months and never missed a payment.
3. Your loan must be securitized by Fannie Mae or Freddie Mac. For more information to determine if your existing loan qualifies, you can visit this site or contact Fannie Mae at 1-800-7FANNIE or Freddie Mac at 1-800-FREDDIE.
4. Your income supports the new potentially lower mortgage payments. Income must be verified with the lender.

The plan is only available for loans that close and fund on or before June 10, 2010.

For more information regarding the complete list of guidelines, check out the fact sheet and email me to determine if this program makes financial sense for your individual situation.

With the current economic uncertainty and mounting job losses many people are facing the stress of possibly losing their homes because they cannot make the mortgage payment. Here are a few tips and resources that could help avoid having your lender foreclosure on your property.

1. Don't hide from the problem. If you are receiving notices from your creditors, follow up with them as soon as possible. Even though it may seem difficult, contact your loan servicer and let them know your situation. Don't wait to long to respond because if you reply earlier in the process, the lender could help you with foreclosure prevention options such as loan modifications or short sales.
   
2. Know the law. Understanding the foreclosure law in your state and reviewing your mortgage documents will allow you to have better conversations with your lender in helping to find a solution. Click on the link for assistance with Georgia foreclosure law.
   
3. Explore all your options. If your house is more than what you can afford, one option might be to sell the home on your terms. Although it could take a while for your home to sale, many lenders will delay the foreclosure process while your home is on the market. Other options could include selling your home as a short sale, or for less than what the home is worth, and the remaining balance could be forgiven by the lender. If you cannot sale your home, consider a "deed in lieu of foreclosure" which would turn the home back over to the lender, but will not hurt your credit score as much as a foreclosure.
   
4. Watch out for foreclosure prevention scams. Some companies claim to offer foreclosure prevention services by acting as your agent and negotiating with the lender directly. This could cost you thousands of dollars that you do not need to spend if you communicate directly with your lender. Other scams include signing over your home to a third party to prevent foreclosure.
   
5. Get help from the right places. With so many companies popping up overnight to help you with your foreclosure, it is important to know where you can turn for legitimate assistance. Two options to help you in the process include the Department of Housing and Urban Development at 800-569-4287 or the National Foundation for Credit Counseling at 866-557-2227.
   
6. Set your financial priorities. Setting up a budget could be a huge help in determining where your money needs to go. Although it may be tough at first, this could help you determine what finances need to go and what are the ones that are most important to you. You may find that saving your home from foreclosure is your main priority, and you could prove it to your lender by working odd jobs or selling items to help make your house payment.
   
7. Bankruptcy might be an option. Bankruptcy is a last resort option that may be necessary depending on your situation. For more information regarding bankruptcy check out this site.

If you'd like to explore your options in more detail email me at dwalters@integritymtgonline.com or contact me at 678-648-5626.

Source: MSNBC
Sidestep landmines that can lead to foreclosure

The Easter Season is a time of rebirth and renewal.

It's also the perfect time to remember your blessings of family, friends, joy, and love. May these blessings fill your life with happiness.

Thinking of you this Easter, from Darrell Walters and Integrity Mortgage Funding.

dwalters@integritymtgonline.com