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January Newslettler
This entry was posted on 1/12/2008 10:23 PM and is filed under Newsletters,Mortgage.
| Your Realty News |
January 2008 | |
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Happy New Year!
There is lots of talk in the press, so much that it's often hard to sort out the truth and understand what is truly going on. A subprime mortgage mess that we didn't think would really affect Fairfield County, but it is, though not to the extent it is throughout the rest of the country. A yoyoing stock market and questions of a recession don't help the big picture. But if you are thinking of real estate, the opportunities are now especially if you are thinking of trading up as the disparity in pricing has narrowed.
Did you know the NYC market is booming? A large part of that is due to the foreign influence. Not only is our dollar low so in a effect we are "on Sale" but they are buying with holding in mind, believing that the upturn in values is not that far away. Every week I am getting calls from foreign investors looking for the right deal for them. So why aren't we taking advantage of the buying opportunities and low mortgage rates too? It's time to think, "buy now"!
New Mortgage Forgivness Act
On Friday, President Bush signed H.R. 3648 , The Mortgage Forgiveness Act of 2007, into law, sparing homeowners the tax burden associated with canceled mortgage debt.
Prior to this action, forgiven mortgage debt due to foreclosure, short sale or deed in lieu of foreclosure, was considered taxable income. The new law, however, temporarily waives these taxes for debts forgiven (as high as 35%) from the beginning of 2007 to the end of 2009. The bill also extends the tax deduction for mortgage insurance premiums through 2014.
For more on understanding the subprime market, go to my blog at Http://www.VictoriaLorusso.com
In trouble with your mortgage? Call me, I know how to help. There are plenty of options to save your credit. You can reach me at 203-324-9600.
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Beyond Price: Deal Breakers
By Stephanie Tallman Smith
 Everyone has that one item that is non-negotiable and if the house they are considering lacks it, they will not budge. The sellers could be practically giving the house away but if it doesn't come with that one special feature, they can forget about landing that particular buyer. For some it could be a swimming pool, while others would buy a house with only one bathroom before they would consider buying one without a fireplace... Read More | |
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How to Use Stencils
By Mary Ward
 Stencils have long been popular elements in home décor, and with good reason. They are easy to use, have great looking results, are inexpensive, and easily changed with a fresh coat of paint. Here are the basics of wall stenciling:
• Prepare the base coat first. A fresh coat is best, but at any rate, make sure the surface is clean.
• Choose stencils from pre-cut... Read More | |
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How to Create a Perfect Dining Room
By ARA
 Here are a few simple tips to redecorate your dining room from the designers at Arhaus Furniture:
Have a Seat - Gone are the days of matching "sets" of furniture. For same seating and a more glamorous look, try a retro-modern style. The perfect example from Arhaus is appropriately called Grace - with a classic empire silhouette and softly padded seat.
Shapes and Sizes: Dining Tables - Dining tables are available in a variety of shapes and sizes. Take your room and how many guests you typically serve into consideration when picking the table that is perfect for you.
Trends: Materials and Finishes - Natural, rustic finishes are the rage, such as honey tones like natural or light oak. The use of white paint and even driftwood-toned stain is replacing many of the deep, dark shades. For more tips on "dining décor," visit the Arhaus Furniture Web site at arhaus.com. | |
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Gathering Mortgage Documents
By B. Conrad
 It is a good idea for anyone considering the purchase of a home to gather the documents they may need and keep them in a safe place. In some cases the documents needed may already be available as part of your tax preparation paperwork, but in other cases it is necessary to gather additional information not included on the tax return.
The documents lenders will most likely ask to see are:
• W2 forms for the past two years.
• Federal income tax returns for the past two years... Read More | |
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What Your Homeowners Insurance Doesn't Cover
By Angela Baca
 According to the Insurance Information Institute, standard homeowner policies do not include certain types of insurance coverage. If you have a Homeowners-3 (HO-3) policy (which is the most common type of policy in the U.S.), then your home is not covered for floods, earthquakes, and water seepage. If you live in areas where these types of events as well as hurricane wind damage are possible, you should purchase additional insurance coverage for your home.
It is also important to purchase high enough limits for each type of basic insurance coverage and each type of additional coverage. For example, if you purchase flood insurance but choose a very low limit, you could be left with thousands of dollars of unpaid damages after a flood destroys your home.
When purchasing insurance, you have to balance the need to adequately insure your home against potential losses with the need to purchase an affordable premium. This process... Read More | | |
| Victoria Lorusso - (203) 324-9600 |
Your Realty News - January 2008 |  |
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