One reason the Military Services have trouble operating jointly is that they don’t speak the same language.

For example, if you told Navy personnel to “secure a building,” they would turn off the lights and lock the doors.

The Army would occupy the building so no one could enter.

Marines would assault the building, capture it, and defend it with suppressive fire and close combat.

The Air Force, on the other hand, would take out a three-year lease with an option to buy.

It also has very useful information on how homeowners with adjustable rate mortgages can refinance into a fixed rate mortgage, and save money while doing it.

The consumer hotline is available at (641) 985-5700.  Enter the access code of 297206.  The hotline contains a lot of useful inside information and is available nationwide.  Long distance charges may apply.

As they approached their third year anniversary of their loan, they were referred to my services from someone they trusted.  The Matthews’ were concerned their rate might go up instead of down, given the current market trends.

After reviewing their situation, I found that they were just about to have their rate adjust upward 1.5% on top of their current rate.

If that happened, their rate would be higher than their budget would allow, straining their finances. After asking them a few basic questions and doing some research on my end, I found a loan program that would enable the Dan and Monica to move their loan to a 30-year fixed and keep the same payment as their adjustable rate mortage.

In other words, the Matthews’ now have the same rate and payment of an adjustable rate mortgage three years ago, except now they are on a 30 year fixed.

If you or someone you know is in an adjustable rate mortgage, contact me right away at (866) 509-8796 ext. 2416, so that we can work together on finding a fixed-rate solution that makes sense for you.

And remember, I can help anyone anywhere in the country. Thank you for reading and for doing something positive today.

Also, there will be stronger required proof of financial capacity. For most borrowers this will mean showing tax returns and W-2 forms, and they will require lenders to collect money each month to assure that property taxes and insurance are being paid.

The law would create a new, independent regulator, the Federal Housing Finance Agency, to regulate the GSEs. Also, the bill creates an Affordable Housing Fund to support rental housing and homeownership for low-income families by using contributions from Fannie Mae and Freddie Mac, based on their total outstanding mortgages annually. The program would continue for five years.

“Owning some income-producing real estate, in addition to having a solid portfolio of other investments, can be a very good thing,” said Dave Ramsey, author of the book, “The total Money Makeover.” For investors willing to invest for the long term, owning properties can be a path to financial freedom for many, he noted.

Single-family homes make very good first properties because they don’t entail the same hassles and headaches association with multi-unit apartment buildings. Homes can be easily turned into rentals and are also much more affordable than, say, multi-family units like duplexes and triplexes, according to Robert Sheehan, economist for the National Apartment Association.

Home sellers are now more realistic with pricing, so the current housing market offers a lot more choices for buyers who get more for their money. That translates to more and better opportunities for investors.

“Recent data has been sending conflicting signals about the direction of the housing market,” said Frank Nothaft, Freddie Mac’s chief economist. “The rise in existing home sales in February to a 6.69 million unit pace, the highest level since last April, offered some hope of firming in housing demand. In contrast, February’s new home sales fell unexpectedly to 848,000 units, the slowest pace since June 2000, suggesting that more time will be needed before a housing recovery takes place.

“Despite concerns about possible spillovers from troubles in the subprime market, rates on 30-year fixed-rate mortgages remain stable. The low rates support affordability and aid in the ultimate recovery of the housing market.”

A year ago, many mortgage lenders were giving money away with their eyes closed. You didn’t need a down payment, lousy credit was not an issue, and you barely had to prove your income.

But that backfired — duh! — and surprise, surprise, the folks who had bad credit and no income weren’t able to make their mortgage payments after all. Shocking. So lenders have decided to pull in the reins a bit.

Does that mean you’re stuck?

Read the rest of the story: Clean Up Your Credit