http://www.azdot.gov/ccpartnerships/news/closures/index.asp

Hope this is helpful for you!

http://www.azdot.gov/ccpartnerships/news/closures/index.asp

Have a safe and happy weekend!

http://www.azdot.gov/ccpartnerships/news/closures/012712.pdf

Have a safe and happy weekend!

http://library.constantcontact.com/download/get/file/1103007733076-62/WeekendFwyAlertMapADOTJan1912b.pdf

Check it out if you plan to go across town during this fabulous weekend.

http://www.azdot.gov/ccpartnerships/news/closures/index.asp

Have a fun and happy weekend!

http://eddiemortgage.com/2011/09/16/3017/

Also on October 1st, the HUD is LOWERING its FHA loan limits, which could negatively impact the plans of some potential borrowers.  Here’s a link to Eddie’s information on this change as it will affect Arizona residents.

http://eddiemortgage.com/2011/08/30/maricopa-and-pinal-county-arizona-fha-loan-limit-changes/

As our country and state continue to deal with the trials of our taxed economy, changes in the mortgage and real estate worlds keep us professionals scrambling to do our jobs helping our valued clients.

Student Loans

Paying off your student loans sooner lowers your credit score

As unfair as it sounds paying off your student loan sooner will lower your credit score
down by 10-15 points. Lenders do not like their borrowers paying off their
loans earlier as they will lose the interest income that they earn from you.

Although this is not necessarily a bad thing for you to do, paying off your student
loans sooner is not better than paying it on schedule. Sadly, there is no
credit score rating boost for paying it off sooner.

Student loans with longer repayment periods lower your score

Student loans that takes 10 years or more to pay off will lower your credit score. For
example, Sallie Mae gives you 10 years to pay off your loan. Although that is
not a bad thing since it is an agreement with you and Sallie Mae and it is a
very common period of time for student loans repayment, it will report to the
credit score as “too long to pay off a debt”.

Additionally, in the case of student loans from Sallie Mae, your loan could look like and be
considered as 7 different loans. As in most cases student loans report to the
credit score computing in triplicate, it will look as if you have 21 student
loans in your credit score. This will seriously ruin your score.

Student Loan Consolidation increases your credit score

Consolidating your student loan will put all your loans together and is wholly paid up by
your consolidation lenders.  One single loan will then be assigned to you.
With this one single loan only, you are improving your credit score.

Consolidating your student loans will be a great start for you to create a better financial
standing and it will help putting back your credit score in the right track.
Many efficient and effective lending companies online offer great consolidation
program options. Seek help and assistance from your professional loan adviser
to fully understand all the benefits you can get from a student loan
consolidation program.

Defaulting on your student loan can leave a stain on your credit history for up to seven
years after your loan is paid in full. When you default, collectors will hound
you for payments and may eventually seek legal action. Your lender can
garnishee your wages and your tax refunds in order to repay the loan.

If you declare bankruptcy, keep in mind that your student loans are not always
forgiven. Government loans may still have to be repaid. A bankruptcy also
remains on your credit report for seven to 10 years.

As with any money you owe — be it a credit card balance, a student loan or a mortgage
– your best bet is to make regular payments and try to pay the balance off as
quickly as possible. Not only will this improve your credit score, but you’ll
also sleep better knowing the debt is off your shoulders

http://www.youtube.com/watch?v=X5lbNXNn3CI

I’ve seen lots of things come across the internet, through email and facebook.  Last Sunday, as Mass let out, our choir sang America the Beautiful and many of the people in the church stood still through the song.  The usual rush to the parking lot was suspended.  It made me happy.

We’re all busy these days with all the things we’re busy with.  But I’m happy that so many of our fellow countrymen still feel the call of patriotism.  I’m hoping that our service people who are busy risking their lives taking care of us know just how many of us value their contributions.

God Bless America….

Each year, we hear of children drowning.  Most could have been prevented by closer supervision.   An article written for the Arizona Republic
tells some of these tragic stories:

http://www.azcentral.com/news/articles/2011/05/29/20110529arizona-drownings-families-guilt.html

Drownings occur in pools, of course, but also in bathtubs and occasionally in toilets, or buckets where water has been left standing.  Some children are left near a pool in the care of an older child.  Some are left in the tub while their supervisor retrieves clothes or answers the
phone.  Others are awake when their caretaker is asleep.

Some children drown in pools with no fences.  Some drown in pools where there is a fence but the gate is propped open or broken or has an insufficient latch that allows a little one to drag a toy over so they can open the gate for themselves.

Some who drown have crawled through a doggie door.  Others have gone out with an adult who gets busy with a project and loses track of the little one.  One year-old baby girl, granddaughter of my friend, drowned in her other grandmother’s toilet while the grandmother was busy in another room.

If there is a pool on the property, a fence must be up with a working gate latch that will foil attempts by little hands to open.  Even with a fence and working gate, it would be safer to also have a pool cover or net that would keep a child from getting down into the water.  Everyone in the
household should learn to swim as soon as possible and should also know CPR, in case there is an accident.

Buckets of water must be emptied to avoid an accident.  Bathroom doors should be closed and toilet lids put down to foil a curious toddler.

The Phoenix area, having great weather from the late spring until late fall, isn’t the only part of the country that has a problem with drowning children; however, it seems like we hear every year about families who are crushed because they’ve lost a precious child.   Here’s another article, written for the Arizona Republic, that shows the fact that year after year we continue to lose children:

http://www.azcentral.com/news/articles/2011/05/29/20110529arizona-child-drownings-rising.html

You cannot remind people, parents and grandparents and sitters, too often that they have to keep their eyes on the little ones.  If it’s quiet too long, they ought to go see what the children are up to.  No phone call or book, nap or project is more important than the life of a child.

FHA Mortgages Drop After Fee Hike

An increase in FHA fees is being blamed for a sharp drop in mortgage applications for home purchases last week, according to the Mortgage Bankers Association.

Home purchase mortgage applications fell 13.6 percent last week, to their lowest point in nearly two months. Applications for government-backed mortgages for home purchases fell 26.6 percent in the wake of a 0.25 percentage point increase in the annual insurance premium charged for FHA loans.

The scheduled increase, which took effect Monday, April 18, raised the annual insurance premium on FHA mortgages to a maximum of 1.15 percent of the loan balance, up from 0.90 percent previously.

The weekly figures were also depressed by the Good Friday holiday, when markets were closed.

The sharp decline follows a four week period in which purchase applications had risen by 20 percent, likely due to FHA applicants trying to beat the deadline, according to Michael Frantantoni, MBA vice president of research.

Mortgage refinance activity was largely unchanged, declining 0.6 percent during a week in which mortgage rates eased slightly. Average interest rates on 30-year fixed-rate loans fell to 4.80 percent, down from 4.83 percent previously, while 15-year fixed-rate mortgages declined to 4.03 percent, down from 4.07 percent the week before.

The figures are based on mortgages with an 80-percent loan-to-value ratio for the week ending Friday, April 22.

Steven R Johnson | Senior Loan Consultant

Direct (480) 222-2122 | Toll-Free (800) 608-2121 | Fax (480) 222-2131
sjohnson@flexmtg.net | www.FlexMtg.net

AZ MB #0906114 / NMLS # 155072 / Personal NMLS # 221326