HERE'S WHY I AM PERSONALLY SO GRATFEUL!
This memo was recently sent to myself and all my team mates by Rick & Shelly Akatazewski, the husband and wife partners (and great friends of mine) who own and direct SARA Mortgage & Financial, LLC. where I work each and every day!
"Dear Team,
As we have cut through our half-way point of the year all seems very healthy with SARA Mortgage and Company. We'd like to take this moment to thank each of you for being part of what we feel is a Great company. We say Great because we are all Blessed to be in a secure position these days within an industry so volatile. We have all watched Banks, Lenders, acquaintances, competition and most importantly friends devastated in these challenging times. We recognize that it is the strength of each and every one us pulling our weight and doing our jobs to our best ability which keeps us strong and in such good standing within the communities surrounding us. Yes, at times we all get frustrated with the challenges of closing loans but together we always do pull through for that which is most important, the customer! So please, let us each continue to respect each others positions, challenges and borrowers through these tough times as we launch into the future with more of the respect and character that has brought each of us so far... Be proud of what we have become--our record is Outstanding!! Please know that the strength and sums of each of us working in the same direction is the most important entity to a continued successful business. Thank you all again. May God Bless you and may good fortune be with each of us as we continue our journey for years to come...
In love and friendship, Rick and Shelly"
Now how many of us can honestly say that they love not only their job & their chosen career but also each and every one of their team mates and the organization itself? (Okay, I'm bragging !). This is one of the many reasons I am thankful to be in this business, NOW, right here, at this time, in this market and with SARA Mortgage & Financial, LLC... Challenges? Sure, there are more now than ever, and many more are about to come what with the enactment of HERA and the MDIA this summer. But with a team like this at my back I say, "Bring 'em on!"
As always, I'm here to help!
To fill out a secure online mortgage application please visit:
http://www.saramortgage.com/apply.asp/Hollis/New%20Hampshire
Or if you wish, simply call me to do the application by phone or make an appointment to visit me, or I can visit you at your home or work place!
Jamie Woods ~ Senior Loan Officer ~ 1st Time Buyer Specialist ~ SARA Mortgage & Financial, LLC ~
Office: (603)-816-0255 Cell: (603)-965-8241 email: jamie@saramortgage.com
web: http://www.mortgagemagician.blogspot.com
Licensed by the NH Banking Dept
- WHY THE PROBLEMS OF SUB PRIME ARMS DON'T APPLY TO GOVERNMENT-INSURED ARMS
- HOW YOU CAN POTENTIALLY SAVE HUNDREDS PER MONTH WHILE GAINING EQUITY...
My readers and network partners know this isn't my first entry on this topic, and probably won't be my last! It is so key to understand the difference between the nasty sub prime 2/28 and 3/27 ARMs which were prevalent during the housing boom and the very safe, secure & sensible FHA Hybrid ARM of today which generally saves the approved applicant literally hundreds per month on their housing payment. Let's quickly examine the reasons why ARMs became a problem and how they differ from the FHA ARMS of today:
1). Sub prime ARMs had large margins and jumped up as much as 6% or more in the first adjustment. This problem does not apply to Government ARMs. The government ARMs that my team and I orignate only have a 2% margin and can only go up 1% per year and 5% lifetime. And starter rates on the Government ARMS are a good 2 percent lower than the 30 year fixed, thereby saving the borrower literally hundreds of dollars per month.
2). Sub prime ARMs had pre-payment penalties that prevented borrowers from refinancing. This problem does not apply to Gov. ARMs. Government ARMs have no pre-pays and allow the approved borrower to streamline into a better loan as many times as the borrower wants, as long as there is a benefit. A borrower can even streamline into a better ARM.
3). Home values went down preventing refinancing. This problem does not apply to Gov. ARM's. Why? Because Streamlines don't require an appraisal. Not to mention, the downward value trend is stabilizing everywhere.
4). In many cases, unfortunately, borrowers income(s) decreased or over-time is lost and the borrower does not qualify for a refi. This problem does not apply to Gov. ARMs. Streamlines only verify employment, not income. Even if the borrower lost his/her job all they need is to be employed anywhere, with any income. Even if they retire, they can still streamline!
5). Many ARMs were "interest only" and borrowers balances never went down. This problem does not apply to Gov. ARMS. Government ARMs are always principal and interest payments. In fact, approved borrowers will pay more principal in the ARMs at a lower rate then they will in the fixed! Which means when it comes time to streamline, there will be room to roll in their costs, even without an appraisal.
So, don't let the past misuse of the ARM products in the markets stop you from using this potentially useful and attractive mortgage to help you obtain your first home (or any home you wish to occupy for between 3-5 years)! For more on the facts about the very secure, safe and sensible FHA Hybrid 3/1 or 5/1 ARM please see my blog entry at:
http://activerain.com/blogsview/1117446/what-s-the-deal-with-the-fha-3-1-hybrid-arm-
As always, I'm here to help!
To fill out a secure on line mortgage application please visit:
http://www.saramortgage.com/apply.asp/Hollis/New%20Hampshire
Or if you wish, simply call me to do the application by phone or make an appointment to visit me!
Jamie Woods ~ Senior Loan Officer ~ FHA/VA/USDA Specialist ~ SARA Mortgage & Financial, LLC ~
Office: (603)-816-0255 Cell: (603)-965-8241 email: jamie@saramortgage.com
web: http://www.mortgagemagician.blogspot.com
Licensed by the NH Banking Dept
PLEASE DO YOUR PART BY SIGNING THIS PETITION AND FORWARDING IT TO EVERYONE YOU KNOW IN THE FIELD OR ELSEWHERE!
This is actually very significant news. It's true! Two lawmakers serving on the House Financial Services Committee recently introduced HR 3044 in an effort to temporarily lift new requirements from valuations and the way appraisals are ordered. At the end of this little entry there is a link to sign a petition to advance this agenda and get it passed!
For more on this very significant development and what HVCC has been doing to the market please see Diana Golobay of Housingwire.com's article at:
http://www.housingwire.com/2009/06/29/bill-urges-hvcc-moratorium/
For another inside look at how HVCC negatively impacts the market please see Ken Harney of the Seattle Times article at:
http://seattletimes.nwsource.com:80/html/realestate/2009412092_harney05.html
Now here is that link to help kill the HVCC practice altogether! Please, PLEASE participate! It takes under a minute!
http://www.hvccpetition.com/SignPetition.aspx
As always, I'm here to help!
Don't forget to steer your buyer prospects to the best resource in New Hampshire for ensuring a smooth, easy transaction! SARA Mortgage & Financial, LLC understands which scenarios require the HVCC appraisal, understands and employs the new MDIA/HERA guidelines and has the connectivity and resources to get deals done in under 30 days, regardless!
Jamie Woods ~ Senior Loan Officer ~ FHA/VA/USDA Specialist ~ SARA Mortgage & Financial, LLC ~
Office: (603)-816-0255 Cell: (603)-965-8241 email: jamie@saramortgage.com
web: http://www.mortgagemagician.blogspot.com
Licensed by the NH Banking Dept
LOOKING FOR INFO ON THE 1st TIME BUYER $8,000.00 TAX CREDIT? LOOK HERE!
A lot of people are asking me about the specifics of the $8,000.00 tax credit these past few weeks, and for a good reason. The market is heating up and this is money in pocket for approved first time buyers this year. So I posed this entry in a Q&A format to best represent the most commonly asked questions and their answers, so read on...
Q. What specifically is the tax credit?
A. The first-time credit is a new credit included in the recently enacted Housing and Economic Recovery Act of 2008. The credit was expanded in 2009 for homes purchased in 2009, increasing the amount from a previous $7500.00 in 2008 to $8,000.00 this year. Additionally, the program eliminated the requirement to repay the credit unless the home ceases to be the principal residence within 36 months of initiation.
Q. How much is the credit?
A. The credit covers 10% of the purchase price of a home with a maximum of $8,000.00 for either a single tax payer or a married couple filing a joint return, but only half the amount for married persons filing joint returns (married couples won't get a $16,000 credit!). The full credit is available for homes costing $80,000.00 or more.
Q. Which home purchases qualify for the first time home buyer credit?
A. Any home bought by a first time buyer before Dec 1, 2009 that is owner-occupied. For new construction the purchase date will be the date of occupancy. A first time buyer is defined as anyone who has not owned a home in the last three years.
VACATION HOMES DON'T COUNT!
Q. How do I apply for the credit?
A. The credit is claimed on the new IRS form 5405, "First Time Buyer Tax Credit" and filed with your 2009 federal income tax return.
Q. Are there income limits?
A. Yes. Higher income tax payers will have the credit reduced or eliminated. The credit is phased out based on the 1st time buyer's modified adjusted gross income. For a married couple filing jointly the phase out range is $150,000.00 to $170,000.00. For other tax payers the phase out period is $75,000 to $95,000.00. This means that the full credit is available to those that are under these thresholds.
Q. Does the credit apply for "contracts for deed"?
Generally, no. State laws may pre-empt this so check with your state. New Hampshire disallows this practice.
Q. What about non-married co-buyers?
A. IRS notice 2009-12 provides guidance for allocating the first time buyer credit between tax payers who are not married.
Q. What if my taxes and/or my income is exempt from tax and I have no filing requirement?
A. The 1st time buyer tax credit is fully refundable and having tax-exempt income does not eliminate eligibility. Although there are maximum income limits for qualifying, there are no minimum income criteria. Therefore, someone with no taxable income who qualifies as a 1st time buyer may file for the sole purpose of claiming the credit for a refund!
To take this credit you must close prior to Dec 1st, NOT Dec 31st! If you are still in your research and browsing stage remember this! My team and I can direct you to New Hampshire's finest, most experienced Realtors with tons of listings including bank owned homes and other motivated sales!
Q. Who cannot take the credit?
A. If any one of the following describe you, you're excluded from eligibility:
- Your income exceeds the phase-out range.
- You buy a home from a close relative. This includes spouse, parent, grandparent, child or grandchild.
- You do not intend to occupy the home for three years after purchase.
- You sell your home before the end of the year
- You are a non-resident alien
- You have owned a home in the last 3 years
These are the major points and guidelines of the $8,000.00 1st time buyer tax credit. For more please contact your tax accountant or my team and I. We will gladly answer any additional questions you may have! And remember; no money down, no buyer closing cost, 1st time buyer mortgages with no monthly PMI are available to qualified NH applicants and qualifying is truly easy as pie! For more on the no down payment, no PMI mortgage for first time buyers (and others) in New Hampshire please visit:
http://activerain.com/blogsview/801081/100-financing-very-much-alive
As always, I'm here to help!
To fill out a secure online mortgage application please visit:
http://www.saramortgage.com/apply.asp/Hollis/New%20Hampshire
Or if you wish, simply call me to do the application by phone or make an appointment to visit me!
Jamie Woods ~ Senior Loan Officer ~ FHA/VA/USDA Specialist ~ SARA Mortgage & Financial, LLC ~
Office: (603)-816-0255 Cell: (603)-965-8241 email: jamie@saramortgage.com
web: http://www.mortgagemagician.blogspot.com
Licensed by the NH Banking Dept
Source: IRS.gov
~ DOES THE FHA 3/1 HYBRID ARM REALLY SAVE THE HOMEOWNER HUNDREDS PER MONTH?
~ DOES THE RATE OR PAYMENT EVER RISE?
~ IF SO BY HOW MUCH?
~ HOW OFTEN? ~ IS IT A SAFE LOAN?
These are questions that my team and I are fielding quite a bit these past few weeks. And not surprisingly because there has been a recent rise in the 30 year fixed rate average from the upper 4s to the upper 5s over this period. Any time the fixed rates increase like this it stimulates a significant influx of interest in the very safe, secure and low rate FHA Hybrid ARM. What specifically is a 3/1 Hybrid Arm?
The FHA 3/1 Hybrid ARM is a government-insured adjustable rate mortgage that stays fixed for the first 3 years and then adjusts every year thereafter.
BENEFITS:
- Lower rate = lower payment = more affordability = more square footage
- Lower payment = peace of mind with FHA insured loan
- 1/1/5 structure protects homeowner from large increases and provides a secure lifetime CAP
- FHA Loan = homeowner can STREAMLINE into a fixed rate loan WITHOUT income qualification (homeowner must maintain mortgage payments and minimum credit standards in order to streamline)
- Streamline = if homeowner wishes to keep their home after 3 - 5 years then they should have equity in order to streamline with NO APPRAISAL (so value becomes a non-issue)
GENERAL INFO:
- Index: One Year Treasury
- Margin: 2%
- 1st change date: Depends on the first payment date. Auto determined
- Floor rate: 5% below note rate or 2%, whichever is greater
- Lifetime CAP: 5% above the note rate
- Today's note rate: Call for lookup!
- Yearly CAP: 1%
In conclusion, adjustables are not for everyone, but for some, particularly many first time buyers this type of instrument is ideal. Remember, this type of loan is insured by the federal government. The fixed rate on these are very often a full 2 points lower than the 30 year fixed rate loan. Finally, know that my team and I close loans of this type to approved borrowers in under a week!
For more on the whole truth about adjustable rate loans and the difference between a FHA Hybrid ARM and the SUB PRIME ARMS of yesteryear please read this blog entry which explains that and more:
http://activerain.com/blogsview/1111241/the-whole-truth-about-adjustable-rate-mortgages
As always, I'm here to help!
To fill out a secure online application please visit:
http://www.saramortgage.com/apply.asp/Hollis/New%20Hampshire
Jamie Woods ~ Senior Loan Officer ~ FHA/VA/USDA Specialist ~ SARA Mortgage & Financial, LLC ~
Cell: (603)-965-8241 Office: (603)-816-0255 email: jamie@saramortgage.com
web: http://www.mortgagemagician.blogspot.com
Licensed by the NH Banking Dept
I specialize in arranging FHA "Buy & Improve" (203k) financing for qualified MA, NH & ME home buyers as well as Jumbo/Luxury financing up to $1.5 mil. I also arrange VA loans! Call me today!
Home ownership truly is and always will be the American dream. I believe home is more than just a place to lose your keys. It's where your family lives. It's where dreams are fulfilled, where memories are made, where hugs are given. It's where you plant your garden, catch some rays with a good book on a summer day, watch the kiddoes catch fireflies or just sit on the front porch swing with your loved one and listen to the crickets chirp. Home is where life is lived.
My name is Jamie Woods (aka "JP Sunshine"). I am a Senior Loan Officer with Sara Mortgage & Financial, LLC. I am among the finest, too, as I've been told by my delighted clients (some of their personal stories below). I am writing this to tell folks a bit about myself, my practice and my upbringing, should anyone have the time and patience to read it!
I am the very proud son of my mother, Shelby, an amazing "town hall and choir lady", a woman who just won't slow down and a woman who is also a published author of a short narrative which tells of her upbringing, her love, appreciation and fondness for her mother and her time and both their experiences at the seacost of Maine. The name of the narrative is "Salt Water Solutions" and it is one of about 30 pieces compiled in a very interesting book of other pieces by mothers everywhere, advice good and bad, called "My Mama Always Said". Ask me for a copy some time! My father, Chuck, has been a chief registered nurse at a prominent hospital just west of Boston for almost 25 years! I learned so much from Chuck, such as how to be a good sport, the value of hard work and the art of self-discipline. Sadly, however, we all just recently lost Chuck to a massive overnight heart attack this past May (2009). His legacy lives on in all of his children and the countless hundreds of others whose lives he not only touched but also helped tremendously. Chuck was a true healer in every sense of the word and a 1st class philanthropist. I am also a younger brother to Chris, a very brainy and industrious "computer guy", who is a chief programming engineer for Liberty Mutual, a younger brother, Chet, a thick-skinned and natural EMT/medic who along with his wife Alenna just had their first bippity boppity baby (its a boy, named Timothy Dimitri Woods) and two beautiful sisters; Elizabeth, Massachusetts' finest accountant and new mommy of two little ones, Dylan and Abby), and Amanda, a National Guard veteran, sales pro and a fitness buff who just got married to her man, Jim, of 5 plus years with a beachside wedding in Sanibel, FL and will probably also be producing some offspring of their own in the near future! We are all originally from a quiet suburb just north of Boston, MA, though my sisters joined us from South Korea in 1976 as very young toddlers via an adoption agency in Boston! So yes, the stork does sometimes drop babies down chimneys!
I was born and bred a New Englander. However, in my 38 short years, I have had the opportunity to travel, do business with, network with and meet so many people and professionals from all around the country. Even though I'm only considered I guess "mid career", in my time I have been involved in, overseen and directed numerous marketing, business development and advertising projects for companies everywhere, from fortune 500 companines to small mom and pop corner shops such as gift basket shops, florists, bed & breakfasts, inns, vacation attractions, travel agencies and of course, Realtors.
Since about 2000, I have been in the property closing business, which quickly became my new found and everlasting passion. A good friend of mine, Richie, a closing attorney north of Boston decided to woo me away from my marketing/adverstising endeavors (which was no easy undertaking), take me under his wing and teach me all about the chain of title to properties, how they are recorded and filed, listed and sold. God Bless you, Richie! You were an important catalyst to my dreams come true! I quickly "learned the ropes". In operating as his title abstractor/closing specialist, I made numerous contacts at mortgage companies, who in turn wooed me out of there and into their domain. Turns out, that's right where I belong! To this day, I still work with Richie and give him all my referrals for closing busisness, not just out of a sense of loyalty and gratitude but because there truly is no better closing attorney around. His staff are incredibly adept, educated, passionate and just all around perfectly professional. Anyway, I have been so blessed to be able to help people's dreams come true. Yes, I do recognize that people make their own dreams come true, but I sure enjoy helping!
So, if you're in need of mortgage financing on your existing Massachusetts, Maine or New Hampshire home or you want to purchase a new one, or if you simply want to chat or ask me some questions, call or email me! While I arrange mortgage financing of almost any type for any qualified applicant, I am a 1st time buyer specialist and I also specialize in home improvement/renovation financing for existing home owners or those buyers that wish to acquire "fixer-uppers" that they wish to improve and live in. I am a licensed NH loan originator which means that I can arrange a mortgage loan for you anywhere in the state of New Hampshire. I am also pursuing my Massachusetts licensing in 2009. However, if you need a Massachuestts mortgage loan the branch that I work for is MA licensed and has licensed reps that can help you!
I look forward to hearing from any of you about any topic you want. I love to hear from good people and all about their experiences, upbringings, and basically whatever makes their world go around. Be prepared, though, I am an eternal optimist and I do not subscribe to "The sky is falling" hysteria being over publicized by pessimists and the media in general. Why? Well, because home ownership is and always will be a person or family's strongest asset and investment, values always go up and down over time, as we all know, and I have full and complete trust that Uncle Sam will disallow a total market avalanche. Let's chat some time!
~ Jamie Woods
Sara Mortgage & Financial, LLC Cell: (603)-965-8241 Fax: (801)-672-7916
June 22, 2008
"Hi Jamie! I got your name because you came HIGHLY recommended from my brother-in-law, Dwayne, and his girlfiend, Amy. They just bought a home last month and you were the key person in helping them get their home! My husband and I have been renting a HUGE five bedroom house from his parents for a few years and are very, very sick of renting and throwing our money out the window (especially since it is so expensive to heat!). We really want to downsize and get something small. We have found a place we like about 20 minutes from where we live now which is in central western, NH. Hope you can help! Michelle"
August 2, 2008
"Jamie! We just don't know HOW to thank you enough! As you know, we are absolutely thrilled and delighted to have met you and to have been helped in such a kind and sincere way. You made not only the qualifying and approval process so easy and stress-free but it was obvious that even the agents and the attorney at the closing just absolutely loved you. This was not an easy deal by any stretch but you made it happen! We love you so much! God Bless. Michelle"
May 30, 2008
"The FHA program Jamie recommended is wonderful. We had researched many banks, interest rates, PMI, everything we could think of before buying our home. We first talked with a mortgage company, and they told us there were no 100% financing programs available and we would need 5% down PLUS closing costs. As a young family, we could not afford that, so we went back to the drawing board. Thats when we found Jamie Woods. He got us everything we needed. We got 100% financing and the seller paid our closing costs!! We had no money down. During the process we had questions and when we called to talk to Jamie, we felt like we were his only client. He responded very quickly and was very helpful answering questions. We would highly recommend Jamie Woods anytime!"
Amy J. Lebanon, NH
Stacy St.George from RE/MAX Elite had this to say....
"In a market where people are just sitting back and waiting for business to come to them, Jamie is being pro-active and finding the business to bring to the agents by calling renters in the area and inviting them to these monthly buyer seminars. He is very educated in the programs he offers, and takes the time to listen and answer the questions these buyers have. I would highly recommend Real Estate Agents to use him to help build their buyer business in todays market."
Rebecca Skane of Keller Williams Seacoast Realty (a fellow activerainer!) had this to write:
"You are an amazing professional with a wealth of information to offer! That is why real estate agents like me love mortgage specialists like you!" 10/30/2008
"Dear Mr. Bates, December 10, 2005
I am writing you today to express my thanks to your organization for handling my purchase financing request on our new home in Rohde Island. My fiancé and I are particularly grateful for Jamie Woods, your finest mortgage consultant. Jamie handled our request from start to finish with the utmost congeniality and professionalism.
I am a self-employed carpenter with an alternative financial and credit profile. Jamie not only assisted my fiancé and I in the purchase mortgage but he also took the initiative to challenge a faulty item on my credit report, which is now being resolved and as a result, my score is increasing.
It was an absolute delight working with Jamie, who made sure that our needs were met to the fullest, not only now but also in the future. We will definitely be referring our friends and loved ones to Jamie and your company when the time comes."
Very Truly Yours,
R. Prezioso
Warwick, Rhode Island
"To Whom It May Concern, January 4, 2006
I would like to thank you and Jamie Woods for all your diligence and persistence on refinancing my multi-family home in Danbury last month.
Not only did Jamie seemingly make the impossible happen but also got the deal done in less than two weeks and at a rate that was unheard of while I was shopping lenders.
Furthermore, I would like to add that I almost had to cancel the deal at the very last minute due to a sudden illness in my family overseas. When I notified Jamie that my father had taken ill and I needed to cancel or postpone the refinance, Jamie's first and only concern was my father's health and well-being. Jamie wished me a safe trip to Brazil and sent his prayers with me. Fortunately, my father's health improved, I was able to remain in Connecticut long enough to get the deal done, and also, when I returned, there was a gift basket wrapped and awaiting my arrival sent from Jamie.
Jamie is a breath of fresh air and I would recommend him in the highest to anyone considering a mortgage of any type!"
Sincerely,
M. Louzada
Danbury, Ct.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
