Borrowers who are finding it impossible to make their mortgage payments should contact their lenders immediately. Never, never ignore the lenders’ mail and/or phone calls. Most think they don’t need to speak with their lenders about their situations, or think they can take care of their problems without involving the lender. But if you have been a good paying customer, have a good reason why you fell behind, and look like you’ll be able to get back on your feet, lenders can be plenty of help. The key word is “forbearance.”

Lenders don’t want your house, they want you to continue making payments, or at least a renewed promise to pay. The costs of foreclosure are enormous. On average, the total cost, including lost interest during the delinquency, foreclosure costs and disposition of the property, ran nearly $59,000, and the situation took about 18 months to resolve.

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Give your home some Christmas love this season. Simple, and sometimes inexpensive gifts, can result in 364 days of more pleasurable living. Items like humidifiers give immediate paybacks by increasing the comfort level. Just as your skin gets chapped and cracked in the winter, your house also suffers from low humidity. The cold, dry weather pulls moisture out of doors and other woodwork. If the house is too dry, you’ll notice cracks in drywall and trim and gaps between assembly points in a wood entry door. (more…)

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Beautiful Wilkes County NC Timber Frame Home and Mountain Property.

MLS Number: 51166, List Price: $898,500

2 Bedrooms, 2 Baths, 2 half baths, 2 car attached garage, full basement, and a barn on 5 acres of land.

These terms are used to describe thousands of homes and yet some things just can’t be described, they have to be experienced. This is one of those homes that really has to be seen to be appreciated.

This majestic Timber Frame home of the Bob Timberlake genre is not just another house, it provides a feeling of home that is not about walls and floors and windows and doors. It creates a feeling of the flow between your outdoor and your indoor environment that is seamless. Everywhere you look there is a view. Everything you touch feels natural and beautiful in a way that cannot be described, only owned.

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information

In November, the Federal Trade Commission reported that 8.3 million U.S. adults had been victims of identity theft in 2005. Because of consumer concerns, the federal government has focused its attention on the use and abuse of credit report information. The Federal Fair Credit Reporting Act regulates who may obtain your information, how it may be used, and what penalties can be levied against those companies who fail to comply with federal guidelines.

Some credit providers require requesters to give solid proof of ownership, such as a copy of the county assessor’s tax bill, grant deed or utility bill when making application for a credit check. Management companies and rental corporations are required to provide information that includes proof of formal contract with the individual authorized to use the credit information. (more…)

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A poll conducted for CNN by Opinion Research Corp. found that 51 percent of Americans surveyed believed that those at risk of defaulting on their mortgages and losing their homes “should receive special treatment.” But 46 percent said there should not be any special treatment afforded to those in trouble. The poll seems to suggest that their exists a fair bit of skepticism on the part of the U.S. population. As a result, the public is divided on whether those facing defaults on their mortgages should get special help, with most believing the borrowers are to blame for their own problems. (more…)

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It’s in the news and fostering a mountain of debate. The Bush administration, in concert with the mortgage industry, has embarked on a controversial project aimed in picking winners and losers from the aftermath of the subprime-mortgage meltdown. Detailed in the recent White House plan, the industry would voluntarily help as many as 1.2 million homeowners who are heading for trouble paying their subprime mortgages. For some homeowners, loan-servicing companies will agree to freeze mortgages at their low introductory rates. In other cases, credit counselors or loan servicers will walk mortgage holders through refinancing processes.

However, the deal won’t provide relief to many subprime-mortgage holders including borrowers who are now in foreclosure, have already refinanced their homes or are more than 60 days delinquent on more than one payment over the past year. In some cases, people with good credit scores will also be excluded. The program will be closely watched in financial markets around the world, where subprime defaults have triggered steep write-downs and constrictions in credit markets. Many banks and investment funds invested in complex securities backed by subprime mortgages, which promised high returns but are now battered and difficult to value. (more…)

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