Cary Area First Time Home Buyers Find Relief in the 2014 Farm Bill
Some of the biggest talking points coming out of the $956 Billion 2014 Farm Bill is that Food Stamps were cut by $900M per year, it ends a two decades old Direct Payments to farmers at a savings of $5B per year and even includes funding for Hemp (marijuana) research. Continue reading
In honor of Martin Luther King Jr.’s birthday, my colleague Ricardo Cobos (aka; the Raleigh Mortgage Guy) wrote a pretty cool blog that I wanted to share with my readers.
What’s your favorite MLK fun fact?
This holiday, which occurs on the third Monday in January each year, was established to serve as a time for Americans to reflect on the principles of racial equality and nonviolent social change espoused by Dr. Martin Luther King, Jr.
It took 15 years to create the federal Martin Luther King, Jr. holiday. Congressman John Conyers, Democrat from Michigan, first introduced legislation for a commemorative holiday four days after King was assassinated in 1968. A number of states resisted celebrating the holiday. Some opponents said King did not deserve his own holiday, contending that the entire civil rights movement rather than one individual, however instrumental, should be honored. Congress passed the holiday legislation in 1983, which was then signed into law by President Ronald Reagan, Republican from California.
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5 Steps to Purchasing a Home in Today’s Lending Environment
Step 1: Get Your Finances in Order
Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history before you apply for a mortgage, because the reports play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you. If you haven’t looked at your credit reports, you might be surprised at their contents, because errors are common. Continue reading
1. Don’t go buying a lot of junk, or even quasi-junk. Draining your savings or running up credit card debt to buy a new living room set, a big-screen TV, or a new car could make a difference in your interest rate and whether you even qualify for a mortgage. Avoid spending money until after the closing is completed, whether by credit or cash. Keep your debt down and as much money in your bank account as possible. Your lender will check bank and credit card account history, in some cases more than once. Continue reading
Larry Dugger - Mortgage Lender Cary NC 