- @ChristianPF Is Giving Away An iPad! and more! RT to enter to win or click to find out other ways to enter… http://su.pr/1cqxH5 #
- No, I won't ship my china cabinet to Nigeria. Kthxbye. #craigslistscam #
- @LiveRealNow is giving away a copy of Delivering Happiness(@dhbook). Follow and RT to enter. http://bit.ly/czd31X #
- @LiveRealNow is giving away a copy of Delivering Happiness(@dhbook). Follow and RT to enter. http://bit.ly/czd31X #
- @punchdebt I vote for the Fuzzy Bunny Gang. in reply to punchdebt #
- Packing for 36 hours in Chicago. #
- @LiveRealNow is giving away a copy of Delivering Happiness(@dhbook). Follow and RT to enter. http://bit.ly/czd31X #
- In the airport. It's been a while. #
- RT @pogpog 8 Month Old Deaf Baby’s Reaction To Cochlear Implant Being Activated – Pogpog http://bit.ly/cL4XEr #
- @LiveRealNow is giving away a copy of Delivering Happiness(@dhbook). Follow and RT to enter. http://bit.ly/czd31X #
Refinancing Through the HARP Program
HARP Refinance
If you owe more than your house is worth, and want to refinance to today’s low interest rates, you need to check out the HARP program. Millions of homeowners with underwater homes are finding relief in a new version of the Home Affordable Refinance Program (HARP). Refinancing to lower interest rates could slash your monthly mortgage payment or shorten the time it takes to pay-off your mortgage.
The new HARP loosened qualification rules, making it it easier for underwater homeowners to qualify for a refinance. When HARP 2.0 was released in November 2011 you had to work with your original lender. Since March 2012, when Fannie Mae and Freddie Mac rolled out the automated underwriting systems, you can work with any participating HARP lender. That means more competition for your business and better rates for you
HARP 2.0’s Hurdles
There are two series of hurdles you must clear before you can refinance your loan under HARP 2.0. The first set of hurdles concerns the loan itself. The three key eligibility questions are:
- Is the loan owned by Fannie Mae or Freddie Mac?
- If so, was the loan purchased by Fannie or Freddie on or before May 31, 2009?
- The loan was not refinanced under HARP before (some exceptions apply).
If you answer yes to these three questions, then your loan may be eligible for HARP.
Tip: If your loan is a FHA loan, then check out a FHA streamline refinance loan.
The second set of hurdles concerns your finances and property. Fannie Mae and Freddie Mac set up the basic guidelines. There are two basic ways your loan can be processed:
- Manual Underwriting System: Only your original lender (who is also your current servicer) can process a HARP loan through the manual underwriting system.
- Automated Underwriting System: Any participating lender can process a HARP loan through the automated system.
Keep in mind that lenders are free to have stricter qualifying rules than the basic Fannie and Freddie requirements.
When shopping for a HARP loan, here are some of the main points to look out for:
- Credit Score Requirements: Fannie and Freddie have no minimum FICO score requirements. However, each lender has its own credit score requirements, so if you are denied by one lender, keep shopping.
- Income Requirements: Your original lender can approve a loan with no debt to income ratio (DTI) requirement. However other lenders must qualify you based on your DTI. The rule-of-thumb for a HARP loan is a 45% maximum DTI.
- Timely Mortgage Payments: The HARP program allows for no late mortgage payments in the last 6 months and one late (30 days) payment in the preceding 6 months. However, some lenders do not allow any late payments.
- Investment Properties Qualify: You can refinance a second home or rental property under HARP 2.0.
- Fees: Lenders are not consistent in the fees or the interest rates they charge for HARP 2.0 loans. Some lenders charge a few hundred dollars for HARP 2.0 loan fees, and others charge thousands. It pays to shop around, so you can compare interest rates and fees.
- Condos: While HARP guidelines for condos are tricky, many more condo owners will qualify for a loan under HARP 2.0 than under the first version of HARP.
Applying for HARP
First, go to the Fannie Mae and Freddie Mac Web sites to learn if either owns your loan and whether they bought your loan on or before May 31, 2009. If so, you can contact either your current mortgage servicer or shop around with the many lenders who are offering the HARP 2.0 loan.
If your application is rejected, ask for the specific reason why. If you applied with your original lender, find out whether the lender used the manual or automated system. Request manual underwriting if your original lender turned you down based on automated underwriting, as it may result in your loan being approved.
It pays to shop for HARP 2.0 refinance. Many homeowners report one lender will reject their application, but another will offer them an attractive refinance. Second, lenders are not consistent in their offers. As mentioned, closing costs are all over the map. Interest rates vary, too.
Summary
HARP 2.0’s rules are technical. Each lender creates different overlays. If you believe you qualify for HARP 2.0, be persistent! The rules that are in place today could very well be expanded in the future. This is one instance in life where shopping can be the solution to your problem.
Oklahoma Tornadoes
My heart goes out to all of the victims of yesterday’s tornado in Moore, Oklahoma.
I couldn’t imagine hearing that my kids’ school was demolished around them. Twenty or more dead children in any community is devastating.
On top of the sheer horror of dead children, the town is nearly wiped off of the map. Will they rebuild or cut their losses?
I hope everyone in the town was well insured, but that’s never the case. There will be many in the town that will have lost everything: their homes, their families, their jobs. Family is irreplaceable, but so is your home, if you don’t have insurance. To lose it all and not even have a place to mourn….
Have you checked your insurance policy to make sure you are covered in the event of whatever natural disaster is common in your area?
To help the victims, text REDCROSS to 90999 to make a $10 donation. It’s the least you can do.
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Yakezie Challenge – I’m In
After watching the Yakezie Challenge progress for 6 months and reading the recap, I’ve decided to participate. Maybe I’m a jerk for waiting until I saw the value instead of immediately jumping in, but I hope not.
The goal for stage 1 was to get to Alexa rank 200,000. I’m currently at 533,108. Six months ago, I was at about 1.8 million, so I’ve improved quite a bit on my own, but I’ve still got a ways to go.
So, here I am.
Whose Line Is It Anyway? Why do some shows return from the dead?
Watching TV in the summer used to mean surfing channels of reruns, but lately there seems to be a slew of “new” shows that are repeating old ones. Networks and cable channels are bringing back previously popular shows such as “Whose Line is it Anyway?”, “Hawaii Five-O”, and “Dynasty”. While some people are thrilled that their favorite shows are back, a lot more of us are wondering why we need to keep rehashing the past.
The answer isn’t that the networks have suddenly become nostalgic. With increasing competition from internet videos and more cable channels, many TV networks have seen their profit from advertising drop in the past several years. More worrisome for the networks, many economists are predicting that the model of having companies pay for advertising during show breaks will become obsolete over the next decade.
These factors mean that TV stations are not very willing to take risks with new shows. A new drama or science fiction show can take millions of dollars to produce, and in some cases it will be pulled within a few episodes if it fails to catch on. When reviving an old show, a network has some guarantee that it will be popular. While not every remake catches on (Charlie’s Angels anyone?), a remake will usually attract enough interest to make the first episode a success.
The costs to produce these shows are also much lower than “new” shows. In many cases, networks already own the property rights to the show as well as contracts with many of the former actors, directors, and producers. In several cases, they also have access to props, costumes, and set pieces. Because of this, they can produce a pilot for a much lower costs than a “new” show.
Finally, advertisers like the idea of bringing back a show. While a network usually has to struggle to find sponsors for shows that don’t have a full season of Nielsen data to show, they can easily sell a show that advertisers are already familiar with. Furthermore, advertisers like that they know what to expect. Without seeing a single episode, an advertiser can accurately guess at the demographic that will be attracted to the show just by looking at the data from the original show. Because advertisers are familiar with the plot of these shows, they are also more willing to negotiate for product placement within the show itself. In some cases, advertisers have even suggested how their product could be incorporated into an episode before the first script is even finalized.
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Nigella Lawson and the High Cost of divorce
Heartache and heartbreak are hard enough to endure but imagine having to go through the loss of a relationship while the world looks on. Such is the high price of celebrity divorce and the latest victim is the beautiful and talented television chef, Nigella Lawson. Shocking photos of Nigella apparently being choked by her husband, Charles Saatchi, surfaced in the media following the June 9th dinner at Scott’s restaurant in Mayfair, London, where the incident occurred. Saatchi’s advisors urged him to humble himself and admit a public apology for the assault. Saatchi denied any wrongdoing, saying he never assaulted her and in fact, was actually removing mucous from his wife’s nose. Nigella was stunned by the admonition of “nose-picking” and his refusal to apologize. She left Saatchi and their family home in Chelsea.
The two sides continued to disagree about the pictures; Saatchi claiming it was just a “playful tiff” and Lawson hurt and humiliated by the public’s assumption of her as victim of domestic violence and her husband as her tormentor. Insult was added to injury on July 7th, when Saatchi announced his intent to divorce his wife in the media instead of directly to her. Lawson, who had been waiting for a public apology, was blind-sided by his cruel divorce announcement. Lawson and Saatchi have been married for 10 years; Saatchi has claimed that the couple had become “estranged” the last few years. Saatchi claims that he had no choice but to act publicly since his wife “failed to defend” him with a statement to the media. In fact, Lawson has remained silent at the advice of her publicist so as not to further affect their children. Lawson (53) and Saatchi (70) have three teenage children from previous marriages that they were raising together.In addition to the “he said, she said” controversy, Lawson and Saatchi will have to fight over $150 million in shared assets, including their $12 million Chelsea, West London home. Both brought substantial assets into the marriage. Charles Saatchi is worth $100 million from the high-profile, highly-successful New York advertising firm, Saatchi and Saatchi. Nigella Lawson is a celebrity chef, bestselling author and television star with a net worth of $15 million. By the time lawyers for both sides duke it out in court and attempt to untangle the shared assets, those net worths will be considerably less.But it’s not just a monetary cost to this celebrity divorce. Saatchi had grown increasingly resentful of his wife’s high-profile career that he helped established. It’s a common theme in celebrity couples; one partner becomes the higher earner or the more recognized celebrity and the other gets bit by that green-eyed monster, jealousy. In Nigella’s case, there is the public humiliation at the hands of someone she loves to endure. It seems that Saatchi is determined to do whatever he can to make her suffer in the media. And then there are the children; children always suffer in a divorce. It can be lessened when parents work together to keep it private and amicable. But it’s incredibly painful to have your lives dragged through the media. In this case, it is Nigella and Saatchi’s children that are paying the ultimate price.
