Joe Corcoran

My top-notch loan officer Mona Campos tells me that if the interest rate on your mortgage is above 5.5% you should be talking to somebody about refinancing your loan. The three biggest reasons to refi are to lower your monthly payment, to lower or lock-in your rate and to shorten your loan term. This last one is a real biggie for a lot of people I talk to. You could keep your monthly payment the same but get a lower rate on a shorter term refi and save money and years on your mortgage! Mona also says that if you're worried about the valuation on your home, don't be! There are programs that will refi for up to 105% of the value of your home. It's definitely worth checking out! Mona Campos can be reached at 610-867-9220.

I've heard from a lot of clients and friends lately asking about different roofing companies and their reputations. It seems hail storms drive out-of-the-area contractors into an area before the hail has even melted! Many of these companies claim to get you a new roof for free without even paying your insurance deductible if you just put their sign in your yard. Now we know why Lower and Upper Macungie Townships have so many of the these contractor signs! My response to those seeking advice on these companies is simple and basic. Check out their references from other area homeowners, get their state license number (every contractor in the state is now required to have one!), and check other sources like the Better Business Bureau, Angie's List or do a basic Google search. Remember, if it seems too good to be true, it probably is!

Here's a link to an article on the topic from Angie's List.

The Senate is expected to take up a bill this week that would extend the deadline for tax-credit closings by up to three months. The bill would not allow new buyers into the program, but would give an extension of the closing deadline to those already under an agreement of sale. The bill seems to have support from both sides and is sponsored by Majority Leader Harry Reid and co-sponsored by Republican Johnny Isakson and Democrat Chris Dodd. The National Association of Realtors says that up to 180,000 buyers may be affected by the approaching deadline.