Here’s A Way You Can Save Thousands of dollars In Interest and Pay Your Mortgage Off Years Sooner!

Most people think when you get mortgage you’re stuck with it for 30 years. What they don’t realize is that using a couple of easy and painless ways to make some extra principal payments can cut years off the life of your mortgageand save thousands of dollars in needless interest costs.

Here are a few easy strategies you can use:

Round Up To the Nearest Hundred.

This is an easy strategy to take advantage of, and the results are dramatic! Let’s say you have a mortgage of $100,000 over 30 years at 8% interest. The monthly payments would be about $734 a month. Now, Let’s see what would happen if you rounded that payment to the next $100 by increasing your payment by $66 extra each month. By paying $800 a month you’ll shorten the length of your mortgage by 7 1/2 years. Just this one simple strategy will save you over $48,000 in interest payments over the life of your mortgage!

Use Your Income Tax Refund to Make a One-time Pre-Payment.

Let’s say you have that same $100,000 mortgage, and you have a $1,000 tax refund this year. ( Very pssible with your new homeowner deductions.) If you take that $1000 and apply it to your mortgage, you’ll save over $8,600 and shorten your mortgage by one year and one month! Not bad for a simple one-time pre-payment.

Start Out With a 15-Year Mortgage.

One of the best things you can do-if you can afford it-is to start out with a 15-year mortgage instead of 30. It’s actually not that much more expensice, and the interest you save is incredible. With the same $100,000 mortgage at 8% over 15 years, your payment would be about $200 more ($955) and you’d be paying $72,017 in interest over the life of your mortgage instead of $164,160! By rounding up, using your tax refund, and taking a shorter mortgage instead of $ 164,160! By rounding up, using your tax refund, and taking a shorter mortgage, you can save thousands and be free of your mortgage years sooner.

That’s worth considering.

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How Credit Reports and Credit Scoring Affect How Much House You’ll Be Able To Buy

Here’s a new buzzword in the mortgage industry. Actually, it’s two buzzwords: Credit Scoring.

In their never-ending search to find an easier way to rate a person’s financial ability, mortgage companies are using a new system called credit scoring.

When Lenders pull up your credit report, they can look at all of the debt you havem how much you owe, how well you make your payments, and and many other things such as if you’ve had any bankruptcies with the last several years.

With your credit report, Lenders now get a “credit score” which takes all of this information and creates a credit score for you.

This credit score is a number that Lenders use to decide which types of loans you’ll be eligible for and able to get.

As with all new things, there’s controversy over these credit scores. Some types of loans require that you have a certain credit score to get the loan- no exceptions. And credit scores change over time. As a matter of fact, just applying for credit can lower your credit score.

Now that you know what a credit score is, here’s how to make sure you have the best one possible. First of all, don’t apply for any new credit cards or consumer loans, Don’t go down to the furniture store and take them up on the “no interest, no payments.” You can do this after you get your mortgage and buy your house, but for your own sake,  DO NOT do it before! Buying things on credit not only hurts your credit score, but it also leaves less money for you to use for a house payment.

Lenders look at this figure also to determine how much money they’ll lend you, and how much they’ll charge you to lend it.

So, wait until after you’ve bought your home and moved in to get that new couch or big screen T. V.

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Protecting Yourself From Fraud

Everyone needs to be aware of how safe or how unsafe your privacy is. The following  information is provided by by First Capital Bank of Texas, “You need to protect yourself. Please be diligent in monitoring transaction activity on your account and contact us immediately if you identify any fraudulent transactions.”

Here are some additional tips on protecting your self from debit card fraud:

Unless absolutely required for a legitimate business purpose, avoid giving out your:

  • Address and ZIP code
  • Phone number
  • Date of birth
  • Social Security number
  • Card or account number
  • Card expiration date
  • Your PIN is private, never give it out

In stores and at ATMs, always cover your card and PIN, and watch for:

  • Cell phone cameras, mirrors, or other tools used to view cards and PINs
  • People watching your transactions
  • Cashiers taking your card out of sight; take it to the register yourself
  • Any unusual activity at ATMs; if you feel uncomfortable, go to another ATM

Online, you should never respond to unsolicited emails that:

  • Ask you to verify your card or account number; such emails are not sent by legitimate businesses
  • Link to websites; such sites can look legitimate but may collect data or put spy-ware on your computer

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REDUCING ENERGY

How to reduce your energy use:

Unplug the “secret energy addicts” in your home: TVs, VCRs, DVD players, cable TV boxes, computers and printers, video game consoles, microwave ovens and AC adapters for cell phones digital cameras and other electronics. Most electronic equipment, including anything that uses a remote control, is designed to consume energy when it is turned off. That “off” setting is actually a “standby” or “idling” mode. Standby power int he average household consumes 1,000 kilowatt ours of electricity annually. That’s enough energy to power an entire home for two months or more. The solution? Unplug anything that isn’t being used.

More and more utility companies are offering their customers the option to purchase green power-electricity generated by rapidly renewable resources like solar power, wind turbines geothermal systems and biomass- to power their homes, Generally, green power adds $2 to $3 a month to your utility bill while helping to combat global climate change and America’s dependence on foreign oil.

*Use compact fluorescent lamps in your lights

*Wash your clothes in cool rather than hot water.

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Home Security Measures That Don’t Break The Bank

Home Security Measures That Don’t Break The Bank

Think you need to install a state- of-the-art, expensive security system to keep your home safe?  Well, think again……

While you can certainly spend thousands of dollars and make your home a virtual fortress you don’t have to. You can significantly reduce the threat to your home and family with less expensive, common-sense solutions that are easy to implement.

Burglars and other miscreants don’t like obstacles. Encountering them, they’ll usually move on. So anything you can do to deter them can be quite effective. Here are some simply strategies:

  • Instead of simple screen doors, install security doors.
  • Replace exterior doors that have glass panels-or install deadbolts that open only with a key. Otherwise, it’s often an easy matter for a thief to break the glass and open the door from the inside.
  • Have deadbolts on exterior doors.
  • IF you get an unexpected knock on the door, find out who it is before opening the door.
  • Put a pipe or metal bar in the middle bottom track of the sliding glass door to prevent them from being opened.
  • Always make it appear as though someone is home. If you go out at night leave at least one interior light on.
  • Keep drapes or blinds closed, especially in rooms with valuable items.
  • Don’t leave extra door keys in obvious locations such as under doormats or in potted plants. Find a less conspicuous spot or leave key with a trusted neighbor.
  • Keep doors and windows locked at all times
  • Put latching metal or hard plastic covers over window wells.
  • Have motion-sensitive lights around the entrance to your home, and possibly in dark areas where burglars could hide.
  • Don’t leave notes on the door for friends or delivery people. This is a dead giveaway that you are not home.
  • Store valuables in a safe or safety deposit box: don’t leave them in plain view.
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HOUSING GOING GREEN

Housing Goes “Green”

Wherever you turn these days, it seems that someone is talking about “Green”, or “Leadership in Energy and Environmental Design (LEED”) certified buildings, and “Zero Energy Homes.” Each of these share a commitment to reduced energy consumption and the “re-use, repurposing and recycling of materials,” “improved indoor air quality” and use of “environmentally friendly” and “renewable products.” Green or LEED buildings generally generate 20 to 70 percent in energy savings, while a Zero Energy Home (ZEH) by definition must generate enough energy to meet or exceed its own heating, cooling and electrical needs in any given year.
With all of the recent attention being given to energy conservation, you might not realize that a handful of individuals began vigorously exploring ways to significantly reduce energy consumption in the early 1970′s. Since then, energy saving practices have been refined and expanded and have been incorporated into projects ranging from small homes to large commercial buildings, schools and fire stations to government buildings. Recent projects have successfully demonstrated the economic viability and sustainability of incorporating rigorous energy and conservation standards into new construction without increasing budgets or extending schedules.
Many conservation efforts are most easily incorporated at the time of initial construction, however some are easily adapted either as a stand-alone project or as part of routine equipment replacement.

Heating, Cooling and Electricity

High efficiency furnaces and/or heat pumps - replacing old furnaces with higher efficiency models or possibly converting from an older type of heating and/or cooling device to one utilizing newer technology can lead to significant energy savings. Many furnaces built just 15 years ago are quite inefficient when compared to models available today.
Insulation - adding additional insulation in attics, crawl spaces and exterior walls are all potential areas for reducing energy costs. Also, by sealing cracks in the attic around areas where ceiling lights and fans are installed or wires are strung can also cut energy costs substantially. When all these small openings are added together, they can have the same effect as having a window left open.
Horizontal Loop Ground Source Heat Pump System - this relatively unheard of heat pump system runs coils 4 to 6 feet underground to tap into the constant temperature of the earth’s soil to provide either heating or cooling depending upon the season.
Windows - installation of wood or vinyl encased triple pane windows significantly reduces heat loss and eliminates drafts.
Building Site Orientation - for new construction, orienting a building to utilize the southern exposure along with window placement allows for the exploitation of both natural lighting and solar heat.
Light bulbs - the days of the incandescent light bulbs may be numbered as legislators across the nation discuss legislation to ban their use in favor of the more efficient LED and CFL lighting technology as a measure to reduce energy usage.
Higher efficiency appliances - installation of high efficiency appliances will significantly reduce energy consumption, particularly for appliances that run all the time, are energy consumers or are used with high frequency.

Water Consumption

Water heaters - there are several energy saving strategies available when it comes to water heaters. When opting to use a traditional storage tank, the location of the tank can have a significant impact on the amount of water consumed and the cost of heating the water. The most economical placement is to have the tank as close as possible to where the water is used most so there is less water wasted waiting for the hot water to arrive. Adding insulation to the first foot of the pipe coming out of the hot water tank will reduce heat leakage. An alternative to the traditional hot water heater is the tankless water heater that only heats the water as needed by running the water through heated coils. This method eliminates the need to keep water hot all the time and the energy required to do so.
Landscaping -by designing and implementing a landscape centered on plants native to your locale that are also drought tolerant will reduce landscape watering requirements.
Rainwater cisterns with filtration systems - also gaining popularity are rainwater cisterns that store water from rooftop collection systems to be later used for irrigation. Sizes vary and can be selected based up on rainfall averages, collection area size, and available storage locations.
Impervious Paving Systems - porous surfaces reduce the impact on surrounding areas by allowing rain water to penetrate surfaces and be absorbed into the soil. Reducing runoff helps alleviate premature expansion of storm water treatment facilities.

Indoor Air Quality

Flooring – several options exist when making flooring selections that will increase air quality. For those willing to either reduce the quantity of carpeting or forego it all together, selecting sustainably harvested wood or bamboo is a good alternative. However, for those set on having carpeting, selecting carpets made using natural fibers with a low-pile can reduce the collection of allergens. Also, air quality will remain stable when carpeting is installed using tacks rather than fume emitting glue.
Paint - better air quality is achieved by using low-VOC (volatile organic compounds) and low-toxic interior paints and finishes instead of other paints and finishes that release higher levels of chemicals and toxins.

Additional Energy Sources

Solar - once thought of as an “alternative” source of energy, solar panels are gaining popularity. Solar panels remain an expensive option; however, their cost has dropped significantly over the last number of years, making them less cost prohibitive. Although solar panels will work in any climate, sunnier locations will result in higher productivity. To encourage the installation of solar panels, governmental agencies as well as some utilities have created different incentive and rebate programs to lower the cost.

Wind - although not practical for the average home owner due to its high installation costs ($40,000 or more), it does remain an option for those located in areas with sufficient wind and land resources. Generally, a home tower will produce between 8,000 – 18,000 kWh per year given sufficient air movement and requires being located on at least an acre of land.


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BE PREPARED FOR COLD WEATHER

Its winter time and its better to be safe than sorry. The list below is some indoor projects that will help you prepare for the winter and also help lower your energy bills.

INDOOR PROJECTS

  • Have your furnace inspected before the first cold snap. Getting this done early will keep your family warm and safe, and save you from having to wait (sometimes weeks) for a service professional when everyone else is scrambling to fix the same problems.
  • Move flammable items away from the furnace.
  • Stock up on furnace filters.
  • Check attic insulation levels and add new insulation where necessary.
  • Seal openings around doors, windows, and exposed pipes.
  • Consider purchasing a water heater blanket and wrapping pipes in special insulating tubes. These can be obtained from a home improvement store.
  • To maximize energy efficiency, purchase insulating drapes, curtains or blinds.
  • Change screens on storm doors if necessary.
  • Test portable space heaters and discard any not in top working order. (Malfunctioning space heaters are one of the leading causes of residential fires during winter.)
  • Test carbon monoxide and smoke detectors and install new ones if necessary. Consider changing the batteries.
  • Have the fireplace and chimney inspected and cleaned.
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6 Things To Ask Yourself When Looking At A Home

You really should ask yourself these questions when you are looking for a future home.

1. Is it within the right distance to work, church, family, and friends?

One of the first things a real estate consultant will ask you about is location. Think about where you like to shop, where you work,  where you worship, and where your friends and family live. Some people are willing to commute a little further in order to work and in order to live close to family and friends. Others, like to live close to the office.

2. Does it have enough bedrooms and bathrooms?

How many children do you have? Do you plan on having others while living in this home? Do you need a separate guest bathroom?

3. Is there enough storage space?

Do you need a basement or an attic?

4.  Is there parking?

Is a garage necessary? How many cars? Could you live with a covered outdoor space?

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Midland, TX

Just this year the number of permits for future housing construction has jumped more than 16.5%.  This number will continue to climb through out the year. This will keep Midland, TX housing, real estate, and lots more in the area very busy. This is great news for everyone who is looking to buy or sell a home.

According to Bob Nielsen, who is the chairman of the National Association of Home Builders stated, ” while we still have a long way to go toward recovery, some signs of hope are emerging in certain markets where economic and job growth is occurring and where foreclosures have not been an overwhelming obstacle.”

Lets hope this new home trend continues!

HAPPY HOLIDAYS!

Sources: Cnn/Money and The NAHB

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OPERATION CHRISTMAS CHILD 2011

Operation Christmas Child

Operation Christmas Child is an organization that is put together by volunteers all over the world. Being a part of this organization and knowing your helping a child have gifts on Christmas can change lives. I know people who have donated boxes for 2 years and some for 14 years. They say it just warms their heart knowing they are making a child smile on Christmas morning.

Collection week for these boxes is this week. November 14-21st. You can drop these boxes off in Midland. The location this year is at Midland Bible Church, 2800 N. “A” Street.  After  you fill your shoebox you need to put a rubber band around box to keep everything in place. The organization also asks that you make a donation of $7.oo to put in the box to help with postage.

When you begin to prepare a box. It needs to be a standard size shoebox. You can also choose to wrap the box and the lid separate or not to wrap the box.  You will need to pick a gender and there are 3 age groups to choose from: 2-4, 5-9, or 10-14. You are encouraged to write a letter or send a picture of you to the child that recieves the box.

Things that you can pack in boxes vary:  toys (small cars, small balls, yo-yo’s) School supplies (pens, pencils, crayons, paper coloring books) Hygiene items, gum, socks, ball caps, watches, etc.

For more information in getting involved with Operation Christmas Child go to: www.samaritanspurse.org/occ

Have a Happy Holiday & God Bless!

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