Jared Weggeland

Freeze your credit report

You now have the ability to restrict access to your credit report by contracting each of the credit bureaus and requesting that your credit file be "frozen."

This prevents lenders from accessing your credit report for the purpose of granting new loans. You can "thaw" your credit if needed when you want to apply for a loan.

There is a small fee for both the freeze and the thaw.

For more information, visit each of the credit reporting agencies:

a) www.experian.com/freeze
b) www.freeze.equifax.com
c) www.annualcreditreport.transunion.com/fa/securityFreeze/landing

If you want to learn more about it, visit www.MySouthernHome.com

Did you know about Circle B Bar Reserve?

It is a place to reconnect with nature and view wildlife including alligators, wading birds, eagles, and maybe even an otter.

Circle B Bar Reserve is free to visitors and open every day from 6:30 am to 6:30pm. Polk's Nature Discovery Center is open Tuesday-Saturday 9:00am to 4:00 pm.

If you have any questions while visiting the site or center please call (863) 534-7377.

Trail name and Approximate Length

Alligator Alley- 1 mile
Eagle Roost- 0.7 mile
Heron Hideout- 0.5 mile
Lost Bridge Trail- 0.5 mile
Marsh Rabbit Run- 0.7 mile
Otter- 0.2 mile
Shady Oak- 1.3 miles
Wading Bird Way- 0.7 mile
Windmill Whisper- 0.4 mile

For more information Visit MySouthernHome.com

The Florida House is moving forward with an aggressive tax break for first-time home buyers that would offer thousands of dollars in upfront savings to lure reluctant buyers into the state's ailing real estate market.

The break would give buyers who have never claimed a Florida homestead a 50% property-value exemption, which would result in about $2,000 in savings on a $200,000 home. The exemption would phase out over five years.

Supporters are promoting the proposed 2010 ballot measure as an economic stimulus plan aimed at whittling down the 300,000-plus unsold homes languishing on the market. The 20-month backlog is eroding home values and feeding the foreclosure crisis, because people can't sell their homes, they said.

If the legislature passes the tax break this spring, the measure would go before voters as a constitutional amendment in November 2010 and require 60% approval to become law. "This is the answer to what you can do this session to help stimulate the market," said David Hart, vice president of the Florida Home Builders Association. (www.miamiherald.com)


Miami Herald (3/12/09); Josh Hafenbrack

For more information visit MySouthernHome.com

One solution to stabilizing housing prices by reducing the risk of buying a home with little or no cost to the taxpayer is a government-sponsored insurance program for new home buyers. This could bring responsible home buyers back into the market and create a floor for home prices, according to Peter Niculescu, the former head of capital markets at Fannie Mae, and Beth Wilkinson, Fannie Mae's former general counsel.

Home buyers could purchase insurance for their downpayments. To qualify, they would have to keep the home for at least five years. The insurance policy would be written on an assessment of average home values in the neighborhood. If a home owner can maintain or improve the home and sell it for more than his neighbor's, he gets any profit above the original purchase price. If prices are lower when he sells, the home owner gets to keep the downpayment. To mitigate the risk to the taxpayer, the policy should be capped at 25% of the home value. Larger downpayments would not be fully insured, nor would larger declines in home prices. The program is meant to temporarily stabilize home prices, and it would have a relatively short life, perhaps two years. (www.wsj.com)

Wall Street Journal (3/21/09); Peter Niculescu and Beth A. Wilkinson

For more information Visit www.MySouthernHome.com

Major banks are now heading into the jumbo mortgage market, originating big loans at affordable rates for their own investment portfolios.

Bank of America, the country's largest mortgage lender, is rolling out a large program to finance jumbo loans between roughly $730,000 and $1.5 million, with fixed 30-year rates starting in the upper 5% range. The loans will be available through the bank's retail network and also through its Countrywide Home Loans subsidiary.

With little fanfare, other financial institutions have become more active in this segment of the mortgage market. For example, ING Group, an Amsterdam-based banking and insurance conglomerate, offers jumbos as large as $2 million through its online ING Direct unit. The minimum downpayment for an ING Direct jumbo is 25%; Bank of America quotes a minimum 20%. ING's jumbos typically are "5/1" and "7/1" hybrids with a fixed interest rate for the first five or seven years, followed by an adjustable rate tied to the Libor index for the balance of the 30-year term. Current rates start around 5%. Bank of America's new program requires hefty liquid resources - six months of principal, interest, property tax and insurance payments in reserve - plus fully documented income, solid credit scores and a full appraisal. (www.washingtonpost.com)

Washington Post (3/21/09); Kenneth R. Harney

For more information visit www.mysouthernhome.com