Retirement Plan you didnt think of

Outside England 's Bristol Zoo there is a parking lot for 150 cars and 8 buses. For 25 years, its parking fees were managed by a very pleasant attendant. The fees were;

cars $1.40, buses $7.

Then, one day, after 25 solid years of never missing a day of work, he just didn't show up; so the Zoo Management called the City Council and asked it to send them another parking agent.

The Council did some research and replied that the parking lot was the Zoo's own responsibility. The Zoo advised the Council that the attendant was a City employee.. The City Council responded that the lot attendant had never been on the City payroll.

Meanwhile, sitting in his villa somewhere on the coast of Spain or France or Italy ... is a man who'd apparently had a ticket machine installed completely on his own and then had simply begun to show up every day, commencing to collect and keep the parking fees, estimated at about $560 per day -- for 25 years.

Assuming 7 days a week, this amounts to just over $7 million dollars ...... and no one even knows his name.

Palmetto Heroes FREE Grant MONEY $7,000

Offering a helping hand to “everyday heroes” so they may achieve homeownership is the aim of the “Palmetto Heroes” program announced by the South Carolina State Housing Finance and Development Authority. Under the program, eligible “Palmetto Heroes” namely teachers, law enforcement officers, and persons in emergency services can get a 5.125 percent interest rate through the South Carolina Housing ’s First-time Home Buyer Program. The $40 million initiative will also provide a down payment assistance loan of up to $7000 dollars. South Carolina Housing Executive Director Valerie Williams says the down payment assistance loan could even be forgivable over time, depending on the borrower’s income. Williams says everyday heroes give so much to others and they deserve a helping hand.

“This program is available to our teachers, law enforcement officers, fire fighters and first responders(meaning EMS workers) who are currently certified in their professions and reside and work in South Carolina or have a contract to begin working in the state within 60 days of closing.” Mortgage loans can be up to 30 years and are available through any of the South Carolina Housing’s network of more than 200 private sector lenders and brokers statewide. Williams says the program not only provides helping hand the everyday heroes across the state, it is an investment in the communities in which they live and work.

“We hope this will provide a recruitment incentive, and in some cases a retention incentive to enable them to work where they live. We not only commend these workers who are so vital to the future of our children and of our state, we are looking to invest in them by creating this program.”

South Carolina Housing is a self-supporting agency of state government and does not receive a state appropriation.

The program includes a $75,000 grant from South Carolina Association of Realtors to help each of the first 300 participants in the program with incidentals associated with purchasing a home. Nick Kremydas, CEO of SC Realtors, says far too often many public servants can’t find affordable housing in the communities that they serve. “

For details call Edwin Gerace @ 803-609-7653 or email mail@609sold.com

PALMETTO HERO PROGRAM

PALMETTO HERO PROGRAM “ from SC Housing!
IT IS BACK

WHAT GROUP OR GROUPS WILL IT TARGET? · TEACHERS - POLICE OFFICERS - CORRECTIONAL OFFICERS - FIRE FIGHTERS AND EMS

WHAT AMOUNT ILL BE OFFERED? · Previous Program allows $5000 in Down Payment Assistance! BUT NOW THE TARGET GROUP CAN RECIEVE $7,000

WHAT WILL BE THE RATE? · Rate are likely to be attractive due to new relationship with US Bank – No longer dependent on Bond Sales

HOW MUCH FUNDS WILL BE AVAILABLE? · Previous program allocated a limited amount of funding for this program and it was used quickly!

Good for Teachers, Policemen, Correctional Workers, Fire and EMS.

Call Edwin today for details 803-609-7653

FREE Home Buyer Seminar

PRESS RELEASE
Community Service Information Summit
Columbia, SC
Ph. (803) 957-5566 Fax (803) 957-4759

For Immediate Release

For More Information, contact Edwin Gerace, 803-609-7653






Free Home Buyer Seminar in a Location near you.
Learn about the Home Buying Process
Learn about the Mortgage Process


Columbia, SC - August 15, 2009 - This FREE homebuyer seminar will focus on 3 areas of the Home Buying Process. First step is Home Buying. The second step the mortgage process, and the potential FREE GRANT MONEY. Step 3 would be the closing process in buying home. The seminar will host professionals in the home buying process to offer FREE information about the home buying process. There will be professionals in those areas to answer questions about those areas. There will be information about the $8,000 Tax Credit, who qualifies and who is eligible for the credit. TIME IS RUNNING OUT ON THE TAX CREDIT
Free Home Buyer Seminar will be offered in Lexington, West Columbia, Columbia, and Irmo. This is an informational FREE seminar about the home buying process. The seminar will be available for groups, civic organizations and others on request. The schedules for the following seminars are as follows:
September 21, Lexington Library 6:00pm-7:30pm Call Edwin Gerace for details 803-957-5566
September 28, Irmo Library 6:30pm-8:00pm, Call Jeff Riley for details 803-467-6440
September 29, Elgin Library 6:00pm-7:30pm Call Craig Connelly for details 803-957-5566
October 5, Lexington Library 6:00pm-7:30pm Call Edwin Gerace for details 803-957-5566

This seminar is FREE but RSVP is suggested due to the demand.
Follow us on Twitter http://twitter.com/freehomeseminar
Follow us on FaceBook Home Buyers Seminar
For more information contact Edwin Gerace at 803-609-7653

#####

Mortgage Industry

Notes and Comments from Edwin Gerace of Russell & Jeffcoat Realtors and Chris Smith of Wells Fargo Mortgage.
What are some of the largest changes in the Mortgage Industry that effect buyers?
In the past few years, the biggest concern that a prospective home purchaser should consider is the restrictions associated with financing. Just two years ago, a purchaser could expect that they may be able to buy a home with no down payment, with marginal credit, and without documenting her income. Those days are long gone now. Purchasers of home now can expect that lenders now expect a down payment (as little as 3.5%). In addition, credit is more important- a purchaser can expect not to get very favorable financing terms unless her credit is of the highest quality. All aspects of a mortgage loan application will be scrutinized greatly now- documenting all income and assets thoroughly.

Are interest rates going to stay steady over next several months or do you see them to climb?
As to interest rates, in the past seven months, we have seen a big drop in rates, though in the past few weeks, we've seen a bit of a tick upward. Though it's impossible to accurately forecast future interest rates, I expect rates to continue to be below 5.5% for the next few months.

When is a good time to refinance your home?
When it comes to refinancing a home loan, there are innumerable rules of thumb. Some say that refinancing is a good idea if rates are at least 1% below the existing loan rate. Others say this gap needs to be at least 2%. I don't like any of the rules of thumb. Before even considering the rate differences, I would suggest that a homeowner first ask herself, "How long do I expect to own this home?" If a homeowner can tell me exactly how long she will own the home, I can say with a great amount of confidence whether or not refinancing makes sense.

Has the loan approval process over last 90 to 120 days on loans changed?
In the previous year, the homeloan application process has changed fairly dramatically. In most all instances, lenders are now scrutinizing documents at a very high degree. A prospective homebuyer can expect that her lender of choice will be asking many many questions after application, once paystubs, W-2 forms, tax returns, and bank statements are provided to the lender.

Are there any True 100% financing programs out there?
As far as I know, apart from USDA RURAL HOUSING, 100% financing homeloan programs are extinct animals.

What are the top 2-4 factors that effect buyers buying/ credit score numbers?
As to cxredit scores, there are thousands of opinions as to what constitutes a great credit score. For most people who live in a world called "real," it's just about impossible to do all of the things necessary to have a "perfect" credit score. Generally speaking though, as to working on improving credit scores, a consumer should 1) pay her bills on time, and 2) if you aren't using some of your credit cards, those accounts should be closed.

Chris Smith is a loan officer with Wells Fargo Mortgages with over 5 years of experience in the Columbia market. He has helped buyers find the right mortgage that fits thier needs.
Give him a call or email him today if you need any information about getting a mortgage loan. He can help with purchases or refinances in 48 of the 50 states. Kip Murphy , Loan Officer, Wells Fargo Mortgage, Cell : 803-361-4263, (803) 951-0713 Tel, Christopher.M.Smith2@wellsfargo.com, Visit me on the web at www.wfhm.com/christopher-smith

Edwin Gerace is a realtor with Russell and Jeffcoat Realtors with over 10 years of expierence in the Columbia market. He has help buyers,sellers and builders over the years reach thier real estate desires. Feel free to call or email him about real estate. Visit him on othe web at http://www.edwingerace.com/ or visit his blog at http://www.edwingeracesrealestateblog.com/ . Contact him at 803-609-7653 cause with Ed You Win.

HUD Action Allows Home Buyers To Use $8,000 Tax Credit For Downpayments

PRESS RELEASE
May 14, 2009
For Immediate Release
Contact: Russell & Jeffcoat Realtors, Edwin Gerace 803-609-7653


HUD Action Allows Home Buyers To Use $8,000 Tax Credit For Downpayments
On FHA-Insured Loans

HUD Secretary Shaun Donovan's decision to allow consumers to use the $8,000 first-time home buyer tax credit to help cover their downpayment and closing costs on FHA-insured mortgages will be a big boost to the housing market, according to the National Association of Home Builders (NAHB).
"The biggest obstacle for first-time buyers is coming up with a downpayment," said NAHB Chairman Joe Robson, a home builder from Tulsa, Okla. "We commend Secretary Donovan for acting decisively to enable buyers to access the tax credit at the time of closing. This will help to stimulate home sales, stabilize housing and get the economy back on track."
The measures announced by HUD would allow FHA-approved lenders; federal, state and local government agencies; and FHA-approved non-profit organizations to supply home buyers short-term or "bridge loans" up to the amount of the $8,000 first-time home buyer tax credit.Longer term loans secured by second liens can also be used by government agencies and FHA-approved non-profit organizations to facilitate home sales. Several state housing finance agencies have introduced such programs and a number of agencies are considering that possibility.
More information about these programs can be found on the National Council of State Housing Agencies Web site at www.ncsha.org/section.cfm/3/34/2920.
Previously, the home buyer would have been unable to access the tax credit until they filed their next annual tax return or an amended 2008 tax return and received the refund from the IRS.

Robson and others NAHB leaders discussed this matter and other housing-related issues with Secretary Donovan last week.