RECORD LOW INTEREST RATES
 

Local lenders are reporting record low interest rates. 
Rates for 30 year fixed FHA loans are as low as 4.75%
Rates for 30 year fixed Conventional loans are as low as 5%

With rates this low, home buyers can purchase more home for less or purchase the same value of home with a lower monthly mortgage payment. 

A lot of good buys have just gotten better! 
Contact us if you'd like to receive a list of our "GOOD BUYS".

Everyone is aware that late payments affect your credit score, but exactly how much was unclear.  Recently, Fair Issac, which developed FICO scores, revealed some estimates of point score declines with respect to mortgage delinquency issues such as late payments, foreclosure, or bankruptcy.
 
Fair Issac created two hypothetical consumers, one who starts with an average score of 680 and the other with a very good score of 780.  FICO scores range from 300 to 850.  Here are average credit score point reductions:
 
30 days late:      40 – 110 points
90 days late:      70 – 135 points
Foreclosure
Short Sale
Deed –in-lieu:     85 – 160 points
Bankruptcy:        130 – 240 points
 
Five main factors that affect a credit score:  Payment history (35%), Amounts Owed (30%), Length of Credit History ( 15%), New Credit (10%), and Types of Credit Used (10%).
 
 
      

     Beth Wardlaw
     Broker, CRS, GRI, e-Pro
     WARDLAW Real Estate Team    
     Keller Williams Realty Southern Indiana
     Cell:   502.807.2384  
     Fax:   502.554.9585
 
     WardlawRealEstateTeam.com
     Got the "BUG" to Move?
 

The Indiana House recently passed a bill requiring residents to verify that they are still eligible for the homestead tax credit.  Residents will be asked to complete a Homestead Verification Form that will be sent by the County Auditor’s office and included in the property tax bill.

Some counties may begin seeing this as early as the 2009 payable 2010 tax bill, but the form is not due until  December 31, 2012.  Although this gives individuals ample time, the best idea is to return it as soon as it is received.

The County Auditor should update the database from the Sales Disclosure completed at the closing, however it is best to check with the County Auditor to confirm the status is updated.

Failure to complete and return this form prior to December 31, 2012 may result in loss of the homestead exemption beginning with the Spring 2012/payable 2013 tax bill.  Loss of this exemption could have a significant impact on property taxes.