Deanna Valeo

So how does the Govt ShutDown affect my Mortgage Application? October 1, 2013

Breaking News.......A Message from Fairway Manager, Tom Tousignant:

 "The mortgage lending industry is heavily regulated and influenced by government policy.  With that background, many homebuyers today should be concerned about the shut down and budget debates and how they will impact their ability to receive home financing.  Right now, we are "business as usual" at Fairway- although some government guaranteed mortgage programs are affected.  If you are in the home buying process, call us to discuss any areas of the shutdown that might affect you."

And now for some Insurance Tips.....

According to the U.S. Census 2011, 75 million American families count on life insurance to protect their financial futures. Talking about Life Insurance may be uncomfortable because it means opening up about all of the "bad" or "unexpected" things that can happen in life. When considering the reasons you should invest in Life Insurance, instead of focusing on negative thoughts, think of it as a way to highlight all of the good things that can come from proper planning and protection.

There are different types of Life Insurance (such as term and permanent) and many policies to investigate. Term life insurance provides your loved ones with financial protection for a specific "term," or period of time (e.g., 10, 20 or 30 years). Term insurance is generally the most affordable type of insurance and allows you to get the greatest amount of coverage for the lowest initial premium. Where term insurance covers only a certain period of time, permanent life insurance can cover your lifetime (provided you pay the necessary premiums). Permanent policies also give you the ability to build equity called cash value.

Even if you have already purchased life insurance, it is important to revise your policy as you reach different stages in your life. When insured, you make things easier for those you have left behind by providing tax-free cash to pay estate and death issues, cover your children's' future education expenses, provide childcare or elder care for aging parents, cover funeral costs (which average around $7,000 to $10,000), and cover any other financial responsibilities left after your death.

You never know; it is as simple as that. Unfortunately, dying suddenly from an accident or an unexpected illness can happen at any time and having life insurance will help your loved ones pay the mortgage, bills, and other costs after you've passed. Planning ahead with Life Insurance can make things easier at an already difficult and emotional time. Were you to remain uninsured and develop a serious illness, you may not be able to get life insurance to the extent that you need it or at all. However, if you do find yourself with a terminal illness, Life Insurance can provide you with financial support and can also be used in case of emergencies by requesting a withdraw or loan.

Life Insurance is considered a financial asset, which can help you increase your credit and help you get a loan or health insurance. Many policies have cash value, which (even in case of bankruptcy) cannot be touched by creditors. You can even use life insurance as a supplement to your retirement and make sure your retirement savings lasts as long as you do.
An annuity is like a do-it yourself pension plan you put an amount of money into a life insurance product and in return you get a guaranteed stream of income month after month, for as long as you live. Further, you may not have other assets to leave your heirs, but by purchasing Life Insurance and naming your beneficiaries, you can create an inheritance. This is a way to set your children up for success with financial needs that can arise. You can even use your Life Insurance policy to ensure that a charity you would like to support is left a lasting gift.

Many people do not know that Life Insurance is not just for individuals but that it can also protect a business from financial loss or instability in the case of the death of a business owner/partner. Whether providing necessary short-term cash or keeping operations going until things settle, life insurance can be invaluable in maintaining the business you've worked so hard to build.

Last, but not least, purchasing a Life Insurance policy will give you great peace of mind. No amount of money can ever replace a person in the life of their loved ones but more than anything, Life Insurance can help provide protection for life's unexpected. Visit Life Happens, a non-profit organization, and read their Guide called "What You Need To Know About Life Insurance," to help you further understand. Take the time to consider why you need life insurance, what your financial priorities are, and how much you need and then contact a financial advisor who can help you assess those needs and plan for financial security in the face of life's uncertainties.

Rates are going down again! October 14, 2013

According to Freddie Mac's Chief Economist Frank Nothaft, "the onset of the federal government shutdown and declining consumer confidence, fixed mortgage rates fell for the third consecutive week."

Average U.S. home mortgage interest rates on fixed mortgages fell for the third straight week to the lowest point in three months. Mortgage buyer Freddie Mac says 30-year fixed-rate mortgages averaged 4.22% in the week ending Oct. 3, down from 4.32% last week. A 15-year fix dipped to 3.29%, from 3.37%.

Even though Charlotte is continuing to experience a thriving housing market, the Government shutdown and a possible decline in consumer confidence have forced home mortgage interest rates down. The Charlotte Observer recently reported that the city has just hit a population of one million and that is as a result of new businesses setting up shop here, as well as the constant inflow of talent as people discover the Charlotte metro area's livability, low cost of living, and gorgeous climate.

The real estate market might have been viewed as "slowing down" as home mortgage interest rates began to slowly rise, but now that rates have begun to inch down, the market is once again stabilizing.

With rates taking a dip down, now is the time to consider all of your options and land your dream home. Whether you are buying a new home or looking to refinance your current home, you can trust Fairway Independent Mortgage of the Carolinas to make your home loan as stress-free as possible. Call me today to get started!

Tips for a successful WalkThrough October 25, 2013

You found your dream home! Your offer has been accepted, you made it past the options period and home inspection and now all that's left, is tying up the last bits before closing. But before you sign the closing documents and roll into the driveway with your moving van and paint samples, there's another important step to take you must do a final walk-through. This is the last chance before closing to make sure everything is in working condition.

A final walkthrough cannot only help you feel more confident about your purchase and avoid buyer's remorse, it can also pinpoint any last-minute problems that should be taken care of before settlement. During this assessment, that should take place 24-48 hours before closing on a home, its primary purpose is to make certain that the property is in the condition you agreed to buy -- that agreed-upon repairs, if any, were made and nothing has gone wrong with the home since you last looked at it. A good idea is to do this with your Realtor. Go through the house room by room. At this time, you should check all major appliances to ensure they are in working condition. Check to make sure any previously agreed-upon repairs have been made. Then, look over the general condition of the property, inside and out: Are there damages like scratched walls or floors that occurred when the homeowner moved out? Did they leave unwanted furniture or other things behind? Is the yard and overall property in good shape (or, rather, the condition it was when you last saw the home)?

  • Turn every light fixture on and off
  • Run water & look under sinks for leaks
  • Test all appliances - good idea is to run a clean hot water cycle in the washing machine if this is included in the sale
  • Check garage door openers
  • Open and close all doors
  • Flush toilets
  • Inspect ceilings, wall and floors
  • Run garbage disposal and exhaust fans
  • Test heating and air conditioning
  • Open and close windows
  • Make sure all debris is removed from the home
  • Is the yeard in good shape
If you've completed your final walkthrough and everything looks great, CONGRATULATIONS! If not, and you've identified a few problems, you have a few options. First, if you consider how significant the problem is and decide its a deal breaker, you can choose to walk away from the deal altogether. Second, you can speak to your Realtor who will help you get the problems fixed before closing. While sellers will most likely comply with any requests in hopes of closing, sellers may balk at having the problem fixed; and if the repair was agreed upon during negotiations, you do have legal recourse -- although it may be a good idea for the buyers and sellers to try to reach an amicable agreement to make the closing go more smoothly.

Take your time. During the final walkthrough you want to ensure that there are no surprises after the closing. Once this important final step is complete, take a sigh of relief; you will now be the proud owner of a new home and can finally put all of your attention on setting up your new home just the way you like it!

Original story here

BREAKING NEWS! 4 Homes. 4 Veterans. 4 Days! October 31, 2013

Fairway Independent Mortgage Corporation, one of the country's largest mortgage companies, has not only joined forces with the Boot Campaign and the Military Warrior Support Foundation, two non-profit organizations supporting returning American military troops, but have decided to take it to the next level and will help present the keys to FOUR "mortgage-free" homes to FOUR wounded military veterans in FOUR days.

Fairway Independent Mortgage is a proud supporter of the American military and has helped thousands of active military personnel and veterans nationwide purchase homes. Fairway employees have pledged several hundred thousand dollars in donations over a 12-month period to help provide mortgage free homes to veteran in association with the Boot Campaign, which is made possible through the Military Warrior Support Foundation's Home 4 Wounded Heroes program. After acquiring distressed properties from financial institutions, the Military Warrior Support Foundation uses funds provided by Fairway to provide accommodations and modifications for the specific heroes. In addition to the home, the families receive three years of family and financial mentoring.

With military bases all over the Carolinas, it was important to our branch manager, Tom Tousignant, to have a strong commitment to our troops. Tom, a 22-year veteran of the Air Force, remembers what it was like to come up through the ranks and raise a young family on a military salary. Now retired, Tom continues his pledge to encourage veterans to use VA programs to their advantage and to help vets in any way possible.

So, how is this happening? Fairway will be presenting one set of keys to a U.S. Veteran on Tuesday, November 5th, at a Fairway event in Indianapolis, Indiana.

The next set of keys will be presented on Wednesday, November 6th, at our Lake Norman, NC Realtor CMRS Training course.

Another set of keys will be presented Thursday, November 7th, at another Fairway Realtor CMRS Training Course in Fayetteville, NC.

The final U.S. Veteran will be honored November 8, 2013 during a Fairway "Boot Camp" to train local mortgage professionals and real estate agents on how to help active US military service members and veterans overcome barriers to homeownership.

Fairway Independent Mortgage is so excited to be able to help Realtors train to better serve our veterans and honored to be apart of this great FOUR day event that will change the lives of these wounded veterans and their families!

Original Article here