MORTGAGE BLOG!

This time of the year sends some people into panic over debt they have accumulated throughout the year and then the dreaded stress of holiday spending!

With the end of the year approaching and Interest Rates remaining very low, this may be the perfect time to consider refinancing and consolidating your debt. Many people are prompted to refinance at this time of the year for a variety of reasons including;

1. Extra cash for Holiday Spending.
2. A 2 month break from the mortgage payment. This occurs due to mortgage payments being paid in arrearages.
3. Money to pay off high interest rate credit cards that already exist or are driven to their limits with holiday spending.
4. All of the above and possibly getting rid of your Mortgage Insurance on top of it.
5. LAST but not least, OUR PROPERTY TAX BILLS are coming around.

So, if any of these things appeal to you or you would like to have your mortgage situation analyzed, just give us a call. 727-667-6792.

Have a great week!

Well now is that time of the year that has us all in a holding pattern. Will anyone really have their head "in the game" til' after the first of the year? Who knows. Sooo...my post today is simple. It's a quote by Abraham Lincoln; 

It's not fraud and it's not illegal. IT IS outrageous, ridiculous and absurd. But many "big" name mortgage companies charge up to 5 points over what a normal mortgage broker would charge. On a $200,000 loan, that amounts to $10,000 in unnecessary fees. Think about it. When you see "Big" billboards, slick television and radio advertising campaigns, etc.. This is very expensive and creates major overhead expense for these companies to pay for and still be able to profit from your loan. These dishonest big boys are almost always national. To avoid getting caught in their web, consider using a local company in your area.

Have a great week!

40 year fixed mortgages offer conforming rates for good credit borrowers. The underwriting guidelines are virtually the same as traditional, 30 year, "fixed" rate mortgages. They have the obvious benefit of a lower monthly payment, due to amortizing the loan balance over 480 months vs. 360.

This is an excellent alternative to adjustable rate and interest only loans that have left some borrowers in very compromising positions. And it does away with the extra expense of "refinancing" at a later date when your nice, low adjustable rate goes up! There is also no guarantee that rates will remain stable, they may be higher when your time comes to "refinance into a fixed rate". Interest Rates are very, very good right now. Call PINELLAS FINANCIAL for current 40 year rates and payment information!

I like to remind everyone of this option from time to time, it can really change a borrowers situation for the better! HAPPY HOLIDAYS!!!!!!