The cost of this insurance—from .25 to 6% of the loan—is almost always the responsibility of the buyer of Gainesville FL real estate.  (There is such a thing as lender-paid insurance, but this type carries a higher interest rate and is non-refundable.)  Usually the borrower has a choice of payment plans, which included the following:

Annuals. The borrower pays the first-year premium at closing; an annual renewal premium is collected monthly as part of the total monthly house payment.

Monthly Premiums. The cost is slightly more than traditional mortgage insurance plans but monthly premiums dramatically reduce mortgage insurance closing costs. Borrowers pay for mortgage insurance monthly as part of their total monthly house payment but need to pay only one month’s mortgage insurance premium at closing, rather than one year’s.

Singles. The borrower pays a one-time single premium (instead of an initial premium and renewal premiums). Since single premiums are typically financed as part of the mortgage loan amount, no out-of-pocket cash is used for mortgage insurance with a nonrefundable premium at closing.

These plans offer the choice of refundable or nonrefundable premiums. A refundable premium allows the borrower the opportunity to receive money back on any unused portion, in the event that mortgage insurance coverage is discontinued before the loan is paid in full. The cost for a nonrefundable premium is slightly less than that of a refundable premium, thereby giving the borrower a small savings. If coverage is discontinued on a loan with a nonrefundable premium, the borrower has no opportunity for a refund.  

Unfortunately, rumors and myths abound about the difficulty or even impossibility of cancelling refundable mortgage insurance.  Fortunately, however, the Homeowner’s Protection Act of 1998 requires lenders of insurance loans for Gainesville FL real estate to notify consumers of their rights in this regard on a yearly basis and to automatically cancel the insurance when the mortgage has amortized to 78% of the original property value.  In addition, you may apply for cancellation of your mortgage insurance when that percentage reaches 80%.  For specific details of the HPA requirement in terms of timing and content of these notices, click here. 

While paying for mortgage insurance does entail an extra expense for the home purchaser, it also has its benefits.  It allows new buyers to become a homeowner sooner than if they needed to have a 20% down payment and greatly increases their buying power.  Repeat buyers can gain a significant tax advantage by having more deductible interest to claim.  They can also use the money saved by not putting down 20% to cover moving costs or to put into other investments.

Search all Gainesville FL real estate and Gainesville FL homes for sale.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

Treat your special someone to a wonderful night at the Florida Museum in Gainesville this Valentine’s Day.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

On the fence about selling your underwater Gainesville FL real estate as a short sale?  Consider this: if your home isn’t sold before January 1, 2013, and you owe $50,000 more than its market value, you could realistically end up paying more than $12,000 in taxes in 2013 if you’re in the 25% tax bracket! Once you decide on going the short sale or foreclosure route—and remember, short sales often take a long time to sell–the first thing you need to do is to request that your lender officially and in writing  waive any deficiency connected with your Gainesville FL real estate.  If this waiver is not granted, the lender has 20 years to obtain repayment from you via collection agencies, garnishments, and/or liens.

Because of the impending deadline and the length of time required for short sales and foreclosures, many real estate and financial gurus stress the importance of acting now to set wheels in motions.  They urge distressed owners of Gainesville FL real estate to realize that there is no tax exclusion allowed on pending closings/foreclosures.  Only transactions completed by December 31, 2012, are eligible for income tax relief—and there are no indications that the current deadline will be extended!

Tax Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Adjustment) is used to report the exclusion of forgiveness of qualified principal residence indebtedness.  After your receive Form 1099-C, Cancellation of Debt, from your lender (required by law and submitted to the IRS), download and complete Form 982 and attach it to your tax return.

Search all Gainesville FL real estate and Gainesville FL homes for sale.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

Alley Katz will also be serving up their fantastic food and will have drink special.  If you are not into bowling then you might want to try your hand at darts or shoot a little pool!  This will be a fun way for the entire family to enjoy Super Bowl Sunday in Gainesville. 

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

Alachua County & Gainesville FL Foreclosure Foreclosure Activity and 30 Year Interest Rate

Gainesville interest rates averaged 3.96% in December while the number of foreclosed homes dropped from 195 in November to 185 in December.

Alachua County foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Alachua County & Gainesville FL Foreclosure Geographical Comparison

The number of Alachua County and Gainesville FL foreclosures were equal to national statistics and 0.12% below state figures in December.

Alachua County & Gainesville FL Foreclosure Activity by Month

The number of  Bank-owned properties increased from 48 in November to 68 in December. The number of Auctions dropped from 40  to 34 while Pre-foreclosure activity dropped from 107 to 83. There is a 6 month rising trend.

Are you or someone you know behind on your mortgage payments and facing a Gainesville FL foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

Search all Gainesville FL real estate and Gainesville FL homes for sale

Eleanor of Aquitaine and her husband Henry II will be on hand to entertain you with their living chess match and you will have a chance to try it yourself.  There will also be over 160 artisans demonstrating their skills which include blacksmithing, weaving, leatherworking, woodcarving, and pottery.  After you have walked around and seen all the fun activities going on you will have worked up an appetite and you will not be disappointed in the food available that’s fit for a king, sweet potato fries, bloomin onions and the famous giant turkey legs.

Bring the entire family out to this wonderful faire in Gainesville to enjoy being part of the royal court.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

Good debts are those which can be looked at as investments and those which will contribute to your overall financial health.  The best example of good debt has been for many years the purchase of a Gainesville FL home and is still considered as such by many.  Another good debt would include a student loan to finance higher education.   Financing a car is also perceived as good debt provided that you make as large a down payment as you can reasonably afford and that you intend to keep the vehicle as long as you are paying for it. Generally speaking, good debt includes the purchase of items which you could not afford without wiping out your cash reserves or liquidating your investments.

On the other hand, bad debt occurs when you borrow to purchase a consumable item without fully comprehending the influence of that purchase on your financial well-being.  Excessive credit card use is an excellent example of bad debt, especially given the high interest rates charged.  One obvious flaw in the credit card system is that it encourages users to purchase things they can’t really afford, a posh vacation or the addition of a pool for their Gainesville FL home  e.g., without having to pay for them at the time.  It goes without saying that payday loans and paying pawn shop interest are very poor—and costly—practices which should be avoided entirely.

How to manage your debt?  You can begin by figuring out your credit utilization or your debt-to-credit ratio, which tells you how much you have borrowed of the total amount available to you.  The lower the percentage, the better for your credit rating.  Creating a plan to pay off your bad debts, especially those with high interest rates, is another important step in achieving financial stability.  Many financial counselors urge borrowers to pay off credit cards and car loans before considering taking on student debt or a mortgage for a Gainesville FL home.  Another strong caveat is not to pay off one loan with another, such as using a home equity loan to repay bad debt.  The best practice is to use cash to pay off debt.  One way to increase your available cash is to analyze your spending pattern and carefully monitor unnecessary expenses.  Other suggestions for managing debt include taking steps to lower household bills, refinancing a mortgage for a lower interest rate, and requesting a reduced rate of interest from credit card companies.

Search all Gainesville FL real estate and Gainesville FL homes for sale.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

The sudio will be holding a drawing to win a few sewing class.  If you have ever wanted to get more crafty or learn to sew you will not want to miss this evening of fun in Gainesville.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

While we all need a certain amount of stress to spur us on and help us perform at our best, the key to managing stress lies in that one word: balance. Achieving a healthy work/life balance an attainable goal, but in order to do so you must make changes in your life.  Following are a few tips to ensure success:

• Leave your work at work:  Use your commuting time to transition from work to home.  Rather than think about problems at work, shift gears and concentrate on your family responsibilities or enjoyable activities which await you at your Gainesville FL real estate. You can also use commuting time to unwind by listening to music or a book.  Change your clothes when you arrive home to strengthen the notion of being away from work.  Resist the urge to check any and all electronic devices for work related messages.
• Inquire about flextime or telecommuting:  It just may be that your boss will recognize that you can do your work at different times or from different places.
• Learn to say “NO” on occasion:  Be it for work or for home, you don’t always have to be the one to “step up to the plate” and volunteer for yet another responsibility.
• Make time in your schedule for physical activity and fun:  Every Gainesville FL real estate owner knows that keeping fit by exercising and eating healthy foods is a remedy for stress and/or depression, but too many of us don’t make a concentrated effort to write in our calendars—in  ink—specific visits to the gym.  Consider, too, the benefits of taking up a new hobby, such as cooking, scrapbooking, or archery, that you can enjoy individually or with family or friends. 
  

If you have already tried most of the above recommendations but have still not succeeded in balancing the roles in your life, you might ponder this thought by author Jon Gordon and read his new book:  “Personally, I have never been able to balance the scales of work and life on a day-to-day basis. Rather, I’ve come to realize that the dance between work and life is more about rhythm than balance.

Search all Gainesville FL real estate and Gainesville FL homes for sale.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.

For more information about buying or selling your Gainesville FL home, please call Linda toll free at 888-424-8841 or via email with our convenient contact form.

This exhibit will help you conserve energy and save money at your own home.  Did you know that solar panels at University of Florida power 8% of the museum?  As the US rises to number 1 in the world for energy consumption per capita, we need to learn new ways to conserve energy.  Help Gainesville make some changes for the future.

Linda Luetjen assists buyers looking for Gainesville FL real estate for sale and aggressively markets Gainesville FL homes for sale.

She understands the purchase of any Gainesville FL home represents not only one of the largest and most significant investment a person can make, but also a decision that affects the entire life of a family. It should be handled with all the care and attention such a significant transaction deserves. You may rest assured that Linda never forgets this. Her reputation depends on your satisfaction.