Refinancing can be a valuable tool to save money or use the equity in your home for large expenses like college tuition.  However there are some things to be aware of:

Don’t refinance to use equity for regular expenses. If you are having financial difficulty, make an appointment with a credit counselor to help you create a plan.  Stripping your home of its equity because you are overextended can create more problems than it solves.

Do your homework. Predatory lenders often target homeowners who are having financial difficulty.  Be wary of unsolicited offers in the mail or over the phone.  Research the mortgage organization you are planning on working with. 

Don’t fall for a deal that is too good to be true. If it sounds too good to be true, it probably is.  Don’t be pressured to sign any documents and talk to a trusted advisor before committing yourself to something if you are unsure.  

Do make sure your documents are in order. Make sure all blanks on your mortgage documents are filled in before signing.  Double check all the numbers and information to make sure it is correct. 

courtesy of www.freddiemac.com

Last year, some of the smartest home improvement investments were also the least expensive for homeowners. The results from the 2009 Remodeling Cost vs. Value Report show small-scale exterior projects not only enhance curb appeal, but are the most profitable at resale.
On a national level, 80 percent of projects were exterior replacements that cost less than $14,000. Steel door replacements, midrange and upscale siding and window replacements, as well as wood deck additions are some of the most profitable projects.

The report compares construction costs with resale values for 33 midrange and upscale remodeling projects in 80 markets across the country.

To read the entire report, visit www.costvsvalue.com.

Youth sports registration at MH Parks & Recreation

2/6/10 & 2/13/10
9 am - 12 noon at LC Sammons Youth Center, Cooper Park

Register for all youth sports! Little League, Babe Ruth, Softball, Soccer, Swimming, Tennis, Football, and Basketball.

For more upcoming events check out our Newsletter: FEBRUARY NEWSLETTER.