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Speed up your mortgage? Consider the alternatives

Steve — Wed, 16 Dec 2009 17:18:46 +0000

Here’s a great article posted on philly.com earlier this week.

By Mark Jewell
AP Personal Finance Writer

BOSTON (AP) – “You have nothing to lose and so much to gain – $103,162!”

Like most recent homebuyers getting such pitches, I haven’t been enticed to pay my mortgage down faster. The gist is that by switching from monthly to biweekly payments, I can save a bundle from cutting out years of interest payments.

Still, I’m having a hard time forgetting the offer that landed in my mailbox a couple months ago. After all, the projected savings could help put my two toddlers through college someday. And my family is staring at 29 years of payments on a two-family home in a pricey market.

Read the complete article here: Speed up your mortgage? Consider the alternatives

10 Things You Should Know about the Home Buyer Tax Credits

Steve — Mon, 14 Dec 2009 16:55:15 +0000

If you are considering whether or not to take advantage of the home buyer tax credits, here are a few things to know about eligibility requirements:

First time home buyers may be eligible for up to $8,000.
First time home buyers cannot have owned a residence within the past 36 months.
Current home owners may be eligible for up to $6,500.
Current home owners must have occupied a primary residence for 5 consecutive years during the last 8 years.
Any contract signed before April 30, 2010 is eligible, but it must close by June 30, 2010.
Single filers can earn up to $125,000 to be eligible for the entire amount. Single filers earning up to $145,000 can receive a partial credit.
Joint filers can earn up to $225,000 to be eligible for the entire amount. Joint filers earning up to $245,000 can receive a partial credit.
Maximum home sales price is $800,000.
The tax credit is available on primary residences only.
No repayment is required unless the home is no longer the primary residence at any time within the first 36 months.

Call us to discover how Columbia Funding Mortgage can support you with your mortgage needs. We would love the opportunity to meet you and discuss the options available to you.

Fall Update from Steve

Steve — Thu, 03 Dec 2009 17:12:40 +0000

Dear Friends,

Over the past year, many of our past clients have contacted us and one of their first comments is that they are glad to know we are still in business. It is no secret that the mortgage business has had a rough ride, but with your help 2009 has been our best year ever! Your trust and referrals have made that possible and words cannot express the gratitude we have for your support.

Twitter and Facebook
We are now on Twitter and Facebook and we would like to connect with you there too! On Twitter, find us under “steveknox” and on Facebook, our fan page is Columbia Funding Mortgage.

Referral Network
You have referred us to others, so we would like to refer you. We are excited to announce that we are building a Professional Referral Network for our website. We hope to have the Referral Network page up by January 1^.If you are an owner of a business and would like us to include you in the network, please contact our Marketing Manager, Arin Megenity at 425.341.2222 ext. 105 or via e-mail at arin@cfundingmortgage.com.

Run of the Mill Charity Event
As many of you know, CFM sponsors and organizes (with the help of many, many volunteers) the annual Mill Creek Run of the Mill 5K. We are happy to report that the 2009 run raised $43,000! 100% of the race entry fees ($38,058.75) were donated to the “Linda Baltzell Cancer Patient Assistance Fund” at Providence Regional Cancer Partnership in Everett, WA. The remainder of the money raised was donated to a number of local charities and organizations, including the Jackson High School Track and Cross Country Booster Club. For more information on the run, see the website at www.mcrunofthemill.com.

Did you know?
Many people are unaware that there are temporary loan programs available that allow a homeowner to refinance up to 125% loan to value. This means that if you currently owe more than your home is worth, you can refinance to a lower rate and save hundreds of dollars each month. Rates have remained near or below 5% for months now, and it is our opinion that these low rates will continue through 2009 and start moving upward in early 2010, so please act now to see if we can help you improve your mortgage.

With Columbia Funding Mortgage, you can feel confident that you are working with highly skilled mortgage professionals that will consult with you and give you the information you need to make an informed mortgage decision.