Debut Jewelry Trunk Show Invite

Debut Jewelry Trunk Show Invite

Debut Trunk Show in Raleigh NC

Come one, come all.. Join me to celebrate our local Raleigh jewelry artists in there debut trunk show event

When: November 8th
Time: 6-9pm

Where: Shag and Garnish Salon
8377 Creedmoor Road, Raleigh NC 27612.
http://www.shagandgarnish.com/

Bring friends, come shop, laugh, eat and drink. Please pass this along and share with everyone to make this an extraordinary event.

Artists include:
Megan Wakefield ( 32lbs)- Find her on Facebook under 32lbs
Jessie Voci ( J.Star Designs)
Amanda Wren (Wren Designs)

If you know that you are going to come then please send me an email chamlett@dtechstudio.com. If it is last minute don't think that your not invited :) I hope to see all of you there!

Thursday, September 23, 2010

Sources of Documentation for Mortgage Loan

If you have gotten passed the general application process then you are ready to support your application with supporting documentation. The loan officer or broker that you have chosen is going to require certain documentation to get your file submitted. One of the biggest pieces of advice that I can give is to listen and follow directions. Certain documentation and ways of documentation are required for a reason and it just holds up the process to give us only half. Just remember that we are only following instructions called guidelines issued by the federal agencies. Below is a list of sources if you are unsure as to where to find certain pieces of documentation.




SOURCE FOR MISSING DOCUMENTS


Income


Pay Stubs/Earning: Statements this item can be provided by your current or ex-employer. Most employers keep records for three to five years.



1099: This item can be provided by your current or ex-contractor. Most contractors keep records for three to five years.



W-2: This item can be provided by your current or ex-employer. Most employers keep records for three to five years.



1040: Individual Tax Return This form can be obtained by filing Internal Revenue Form 4506. This form can be located on the Internal Revenue Service’s website,www.irs.gov/pub/irs-fill/f4506.pdf or call 1.800.829.1040.

You may also try to contact your Certified Public Accountant.



Corporate Tax Return: This form can be obtained by filing Internal Revenue Form 4506. It will be needed if you have 25% of more invested in the company. This form can be located on the Internal Revenue Service’s website,www.irs.gov/pub/irs-fill/f4506.pdf or call 1.800.829.1040.

You may also try to contact your Certified Public Accountant.



Rental Agreement: A licensed real estate agent should have copies of this document if they assisted you in renting your home. This information is also found on Schedule E of your tax returns. Schedule E form can be obtained by filing Internal Revenue Form 4506. This form can be located on the Internal Revenue Service’s website,www.irs.gov/pub/irs-fill/f4506.pdf or call 1.800.829.1040.

You may also try to contact your Certified Public Accountant.



Divorce Decree/Separation Agreement/Child Support Agreement: Your attorney or the court system in which the agreements or decrees were issued is the best sources for these documents.



Assets

Bank Statements/Cancelled Checks/Verification of Deposits Banks can provide 3 months average balance verification on bank letterhead and signed by an authorized bank employee. Proof of deposits can also be obtained by providing the approximate date and amount of the deposit.


Gift Letter: The best resource to obtain this document is the donor.



Stock Brokerage Statements: You may contact your broker for additional copies of your brokerage accounts. Be sure to include all pages. Profit and Loss Statement are two sources are your Certified Public Accountant or Accounting/Auditing Department. Balance Sheet the two best sources are your Certified Public Accountant or Accounting/Auditing Department.



Miscellaneous


Warranty Deed: The listing and selling real estate brokerage should have copies of this statement in their files. You may also try the closing attorney or escrow/title company.



Purchase and Sale Agreement: The listing and selling real estate brokerage should have copies of this statement in their files. You may also try the closing attorney or escrow/title company.



HUD-1 Settlement Statement: The listing and selling real estate brokerage should have copies of this statement in their files. You may also try the closing attorney or escrow/title company.



Profit and Loss Statement: The two best sources are your Certified Public Accountant or Accounting/Auditing Department. Balance Sheet the two best sources are your Certified Public Accountant or Accounting/Auditing Department.



Warranty Deed: The listing and selling real estate brokerage should have copies of this statement in their files. You may also try the closing attorney or escrow/title company.



Driver’s License: Contact the State’s Department of Motor Vehicles to obtain verification.




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Friday, September 17, 2010

Get on the List

Have you ever tried to refinance or buy a house and had lenders everywhere calling you? I have been asked a many of times if we sell leads. The answer to that question is NO. When a lender pulls your credit then your name goes on a “trigger list” that can be sold to firms for companies to buy. It isn’t the mortgage companies doing this but the actual creditors. I suggest logging onto this website at least 48 hours before giving us permission to pull your credit. Here is a way for all you buyers to make sure that your name and information doesn’t get on that list…


http://www.optoutprescreen.com/
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Tuesday, September 7, 2010

FHA changes in 2010

If you have spoken with mortgage lenders recently then by now you are familiar with the term FHA loan. They came around in the depression era to encourage people to buy houses and stablize the market. They have gained popularity in the recent years as it made the loans affordable with lower down payments, flexible guidelines and typically lower credit scores. This economy and all the recovery acts and protection acts have changed the way mortgages are done. It began with the conventional loans and this year FHA jumped in. They announced back in the Spring that there were going to be three changes this year. They have been experiencing rising defaults which sent the cash flow below the mandated levels.  They are hoping that these changes will  give borrowers a stronger equity position making them less likely to default. The #1 change was the increase in credit score. I want to talk about #2 change which covers mortgage insurance premiums.

These mortgage insurance premiums are required to insure the lender against default. There are two types of mortgage insurances that come with FHA loans. The upfront mortgage insurance and the monthly mortgage insurance. The monthly mortgage is required until you have owned the house for 5 years and gained some equity making the loan to value of 78% or less. The upfront mortgage insurance is refundable during the first 5 years of your home loan. You are able to finance the upfront mortgage insurance making your loan amount more giving you higher payments and less equity.

The new policy will  be for all loans taken after October 4, 2010. If you are planning on refinancing and currently have a FHA loan then please speak to a lender today. The changes include a decrease in the upfront mortgage insurance from 2.25% to 1% and the monthly will increase to .90% for Loan to value greater than 95% and .85% for loan to value less than 95%. It is slight changes but could impact your debt to income since the payment will be a little higher.

At this time I haven't heard the effective date for #3 change.... reducing seller concessions from 6%  to 3%.
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Thursday, September 2, 2010

Raleigh made it to Kiplinger's top 10 cities for raising families! Check it out.. http://ping.fm/7pgXq
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