Mary Sells Tucson.com

Stuff to do in Tucson this Weekend

Mike Morgan — Fri, 25 Feb 2011 19:06:17 +0000

Last Weekend for The Tucson Rodeo

Spend the weekend at the Tucson Rodeo grounds checking out the Junior Rodeo and the ProRodeo Competition. Tickets run from $17 to $26 depending on the event and can be purchased online or at the gate. www.tucsonrodeo.com

World Golf Championships

If a few days out on the greens is your idea of a perfect weekend… then this weekend was made for you! The Ritz Carlton Golf Club, Dove Mountain is hosting the internationally televised World Championships – Accenture Match Play Championships. Gates are open from 9AM to 6PM on Friday, 8:30AM to 6PM on Saturday, and 6:30AM to 6PM on Sunday. For parking or shuttle info, a detailed event schedule, or tickets go to: www.pgatour.com

“Fresh Paint” Fundraising event at UofA

Come browse the originals of more than 100 donated pieces by emerging artist in this one-day fundraising event benefiting the University of Arizona Museum of Art. The event features a Silent Auction and Live Auction full of unique works of art! Tickets are $60 per person and include fabulous food, fun music and socializing with the Fresh Paint artists! Go to www.artmuseum.arizona.edu for more info!

Monthly Credit Tip

Mike Morgan — Mon, 07 Feb 2011 18:30:14 +0000

We are frequently asked how to take full advantage of using a credit card. How much do I charge? Do I need to carry a balance? When does my credit balance report? Are just a few examples.
When it comes to credit cards and how to use them there are a few rules of thumb.
– Charge less than 30% of the limit
– Credit cards only report once a month and will report depending on when a billing cycle ends
– Carrying a balance and paying interest will not help increase a score
– You only need to charge 1$ per month to generate credit reporting activity

The biggest advice we can offer when you have a question is to call us. Mike Morgan, Peoples Mortgage 520.954.7686.

Short Sale Facts as They Pertain to Mortgages

Mike Morgan — Thu, 16 Sep 2010 19:47:48 +0000

You’ve probably heard a lot about short sales lately but we wanted to share some interesting facts with you about qualifying for a new mortgage if you have done a short sale.

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan. The Bank has to agree to settle for less than the amount owed but this option allows a seller to avoid foreclosure.

What many people may not know is that it is possible to buy another home once you have done a short sale. If your short sale is due to relocating perhaps in the event of a job change there is no waiting period to qualify for a new FHA loan. If you intend to stay in the same area you can qualify for a new FHA loan 12 months after your short sale. This is providing that you did not have an FHA or VA loan on the property that you sold through short sale.

There are other options too with VA and conventional loans. Each situation is somewhat unique so we would be happy to discuss your individual situation with you if you have questions. Call Mike today at 520.954.7686.

Refinance Applications Increase Nationwide

Mike Morgan — Thu, 19 Aug 2010 20:02:26 +0000

The Mortgage Bankers Association confirms that refinance applications rose 17 percent from a week ago, lifting the percentage of refis as part of the total mortgage market to its highest level since January 2009.

Don’t miss out on the opportunity to take advantage of all time low mortgage rates. Call Mike Morgan at Peoples Mortgage today at 954-7686.

Looking for Something Fun to do in Tucson this Weekend?

Mike Morgan — Fri, 13 Aug 2010 18:23:27 +0000

Why not try one of these fun filled events?

Grab your swimsuit, towel, and a picnic blanket, and head over to the Tucson Racquet and fitness Club for a family picnic benefiting EEF, the Education Enrichment Foundation. The cost of $12 for adults and $5 for kids includes a delicious picnic dinner, live music by Still Cruisin’, and a night of family fun. Visit them online at www.eeftucson.org

Don’t miss the exciting FREE street performances of everything from Beat Boy Acrobatics to Bag Pipers at Tucson’s 2nd Saturdays Downtown! There will be plenty of arts and crafts vendors and downtown business specials! To check out the schedule of events, see where the free parking lots are, or see merchant specials… visit them online at: www.2ndsaturdaysdowntown.com.

Disputing an Error on your CREDIT REPORT…

Mike Morgan — Thu, 05 Aug 2010 17:18:10 +0000

1. Source the error and contact the lending company directly that is misreporting to the credit agencies.

2. Ask the lending company for documentation in writing that confirms that the error was a mistake on their part and verifies that your account is in good standing.

3. Send this documentation, along with a detailed explanation of the mistake to each of the bureaus reporting the error.

   Equifax                               Experian                        TransUnion
  P.O. Box 740256              P.O. Box 9554              P.O. Box 6790
Atlanta, GA 30374       Allen, TX 75013             Fullerton, CA 92834

4. Include a request for them to notify you once the discrepancy has been resolved.

Generally, a correction takes 30-45 days. The bureau will likely contact the lending company directly to confirm the information you provided, and then make the appropriate changes to your credit report.

If you have any questions we will be happy to answer them. Please call Mike Morgan at Peoples Mortgage 520.954.7686.

Is it the Right Time to Refinance?

Mike Morgan — Tue, 27 Jul 2010 15:30:43 +0000

Possibly you’ve been thinking about taking some cash out to make improvements around your house. Or you may just be wondering how much you could lower your payment with a lower rate mortgage. You also may want to pay your loan off sooner by refinancing from a 30 year loan to a 15 year.

There are a lot of possibilities to explore. Find out if it’s the right thing for you to do or the right time to do it. You never know if you don’t ask. We’re here for you. Call Mike today! 520.954.7686

Information from the HUD July Update

Mike Morgan — Wed, 21 Jul 2010 16:45:00 +0000

The most recent release from the HUD Commissioner outlines the Office of Housing’s latest efforts to strengthen protection for consumers in the buying process. They are working to make the housing market stronger, sustainable and safer by implementing regulations to make mortgages more transparent and understandable which better protect consumers. Fair dealings require open, clear information. The SAFE Act In combination with RESPA reform, help increase the integrity of the mortgage process and prevent fraud so consumers have greater protection in the marketplace. The office of Housing and Urban Development is committed to regulatory reform and consumer protection. One of the things HUD has done to achieve this is the implementation of a standardized Good Faith Estimate (GFE) and a revised and expanded settlement statement (HUD-1).

The Morgan team is also committed to fair and honest service. If you have any questions regarding this information or specific information for your mortgage needs please contact Mike Morgan at 520.954.7686. We look forward to earning your business.

Update on USDA Rural Development Loan Program

Mike Morgan — Fri, 16 Jul 2010 19:21:14 +0000

While we wait for HR 4899 to pass and be signed into law, the president’s budget is going through mark up. Last year the USDA 502 Guaranteed program was allocated 12 billion dollars, the Senate Appropriations Committee is recommending 24 billion dollars for the 2011 fiscal year.

The bill includes $2.768 billion in discretionary budget authority for rural development programs, which is a decrease of $168 million from the fiscal year 2010 and an increase of $85 million above the President’s request.

Increases are provided for guaranteed single family housing loans. A fee increase is authorized which will allow the Agency to provide $24 billion in new loans at no cost to the government.

In the face of the recession Rural Development’s loan programs have been the principle source of home financing in rural areas.

If you would like more information regarding USDA 100% financing Rural Devolopment loans please contact Mike Morgan at Peoples Mortgage. 520.954.7686.

Housing in Tucson, Arizona June 2010

Mary Tosca — Mon, 12 Jul 2010 19:21:17 +0000

With the surge in home sales this spring due to the home buyer tax credit, we are now seeing, as expected, a slight decline in the number of homes being sold. According to the National Association of REALTORS® Chief Economist, Lawrence Yun, we will likely see a decline in home sales in July and August as well. Yun also noted 4.4 million Americans took advantage of the now expired home buyer tax credit. Two-thirds of those were first time homebuyers who received up to $8,000 towards the purchase of their home. One third were repeat buyers and were eligible to receive a $6,500 credit. One million out of the 4 million bought a home due to the credit.

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