Our Vice President of Advertising, Gary Kulik, just notified us of the Connecticut Association of Realtors (CAR) new advertising campaign called “Smart Move.”  Gary was excited about CAR's new campaign, because the campaign’s message is right in line with what we at McCue Mortgage have been saying for the past several months "It’s a great time to buy a home". We have been saying for months in our own advertising that there is a good selection of houses on the market, and CAR's similar message of “the home you want is on the market”, falls right in line with what we have been saying.  We all know that house prices are low right now, and interest rates are equally low.  Combined that with the efforts that the Federal Government is making, especially with the new $8000 Tax Credit for First... 04/14/2009

Mortgage rates seem to be holding steady for the last month.  The Federal Government's purchase of more Mortgage Back Securities (MBS) seem to have played a huge part in keeping interest rates low. Once the Fed's announced that they would be buying more Mortgage Back Securities at their last meeting in March, the market reacted positively.  Since that meeting the Fed's have been purchasing around $30 billion in MBS per week, which would account for the leveling off of these near historic low interest rates. The Fed's hope that by lowering the interest rates, that in turn we will see an increase in refinancing, and sale of houses.  If we take a close look at what has been happening the past couple of weeks, we can see that at least initially the market has reacted as the Fed's expected i... 04/13/2009

The Middlesex County Chamber of Commerce is a very active Chamber of Commerce. Each month there are multiple events for members to participate in.  I have written in the past about Networking events like the Business After Hours that the Chamber has on a regular basis, but there are many more events that may be of interest for those in the area. The Chamber just came out with its new calender, and there are several events on it for the month of May that I feel are worth attending. May 7   - 26th Annual Golf Tournament, at the Portland Golf Club. May 13 - Prevention Committee Seminar, Keeping Workplace Wellness High When Stocks Are Low" at the Crowne Plaza Hotel, in Cromwell. May 18 - Member Breakfast.  Congressman Joe Courtney will be the speaker.  The Member Breakfast will be held at i... 04/13/2009

Today, Easter Sunday is a special day for many around the world.  Whether you celebrate it as a Religious Day or  simply as a fun day with family and Ester Egg Hunts, it is a special day. Me and my family enjoyed today with many of our friends at Church.  We get together every year right after Church for a meal together at one of our homes.  Everyone brings something, and we all eat way to much, and truly enjoy each others company.  It is both a family and friend time for me and my family, that we look forward to each year. I hope that each and everyone got to also enjoy this day in your own special way, and that you feel blessed at this time of the year.   ****************************************************************************************************************** Info about the a... 04/12/2009

Presently it is easier to do am FHA Loan on a Condo than on a Fannie Mae or Freddie Mac (Conventional Loan), because of downpayment requirements and Condo Project Reviews.  Early last year Fannie Mae and Freddie Mac announced that they would no longer be keeping a list of approved condo's, and that it would be up to each individual Lender to develope their own list.   This means that each Lender has to not only do a Full Condo Review the first time they do a loan on a Condo Complex, but they aslo have to have all of the Condo Doc's reviewed by an Attorney.  This involves getting a copy of the Condo Packet, along with Insurance and current Budget, this increases the time and cost of approving a loan the first time on a condo complex. Minimum downpayment on Condo's can also be higher than... 04/11/2009

Those of us in the Real Estate Industry, all recognize that FHA is one of the main Loan Products right now for a Buyer to consider.  FHA is HUD"s Federal Housing Administration arm which insures mortgages for Lenders/Banks.  FHA insured Loans presently offer Borrowers Loan Programs with Lower Downpayment, and more flexible underwriting guidelines, than Fannie Mae, or Freddie Mac (Conventional Loans) Loan Products.  What many are not aware of is that HUD is also a great resource for information on mortgage and housing related issues. The HUD website www.hud.gov is and easy way to find out about all of the Loan Products offered through HUD/FHA, but equally important it offers perspective Buyers great adice on what to watch out for when obtaining a mortgage.  There are four links on the HU... 04/10/2009

Most people in the Real Estate Industry know of the FHA 203K program, which was designed to allow Buyers to obtain funds to make major repairs on properties that in a lot of cases are not habitable.  The FHA 203K is a loan that is challenging to do, and anyone looking to do one of these loans would be well advised to go to a Lender that specializes in doing them.  The HUD website contains a list of FHA approved Lenders for each state, and whether or not they do 203K Loans, but there is no assurance that each of these Lenders are proficient at doing them. We at McCue Mortgage made a decision many years ago that we would not participate in this program, we do not have the time and resource that the full 203K Loan Program requires.  However, we have recently decided to participate in a mod... 04/09/2009

The Middlesex County Chamber of Commerce will be holding its next Business After Hours on Thursday, April 23, from 5 p.m. to 7 p.m at the Galleria Design Center in Middletown.  This will be the second time that the Chamber has held a Business After Hours at the Galleria.  The first was last year and the turnout was outstanding, as well the food that was provided. If you have never been to the Galleria, this will be truly a treat for you.  Their selection of bathroom, and Kitchen fixtures are amazing, and I have never seen a larger display of Granite Counter tops anywhere else.  You will also find several displays of cabinets, tile flooring, decks, windows, doors, window treatments and a whole host of other things. There will be complimentary hot and cold hors d'oeuvres, wine, beer, and ... 04/07/2009

We are starting to see the first signs that Spring in Connecticut.  It is not here yet, but today the weather was warm and I saw for the first time this year buds on the maple trees in my back yard.  This to me is a good sign that warmer weather will be here real soon.  Spring is my favorite time of the year, everything just seems fresh and new.  The birds have not returned yet, but now that the trees are beginning to bud, they will, and will begin to build their nests. We have been know to still get snow at this time of the year.  We have had so much snow this year that I hope I do not see another snow flake until December.  I don't mind it then because it is nice to have a White Christmas. Several types of flowers have been coming up in my front yard for a couple of weeks, and this we... 04/05/2009

The third Bill that was covered up at the Capitol on Wednesday was HB 6600 which would establish the SustiNet Plan, which would finally provide affordable Health Insurance for Realtors as well as other self-employed, and small businesses.  For years Realtors as independent contractors, along with self-employed people, and small businesses have not been able to get comprehensive affordable health insurance.  This is because they do not usually have access to group plans, which others are able to get through their employer, or government entities.  Without being able to get group coverage, members are limited in what coverage they can get.  Furthermore they are underwritten as individuals which results in much higher costs for restricted coverage. I found some figures that we given very i... 04/04/2009

Yesterday I wrote about my visit to Hartford for Realtor Day At The Capitol, and the first issue that I felt needed to be brought to everyone’s attention, and that those of us in the Real Estate Industry need to come out in opposition of this Legislative session, was House Bill HB 6349, Tax On Professional Services. The second Bill that I feel everyone needs to aware of, and to strongly oppose is House Bill HB 6397, which has been proposed and defeated the last two years, which would create a new 1% Real Estate Conveyance Tax on Buyers on properties with a sales price over $150,000. This means that here in Connecticut just about all houses would be affected by this new conveyance tax, as well as many Condominiums. This Bill as well as HB6349 that I wrote about yesterday, flies in the fa... 04/03/2009

I spent Wednesday morning in Hartford for Realtor Day At the Capitol, where we were given details on issues that we should consider supporting, and issues that we need to come out enforce against. I plan on covering a couple of the issues that we need to strongly oppose, and one that should be supported.  I will start with the one that probably ticked me off the most House Bill HB 6349, and cover the other two in their own posts. It was no surprise to learn that Connecticut like a lot of other States is hurting for money right now.  It was also no surprise that our State Legislators are trying to come up with creative of ways of coming up with the money to meet their budget, instead of making tough decisions to cut back on spending.  As a result the minds of of our State Legislators hav... 04/02/2009

I am fairly new to USDA Loans, because in the past they were limited in where they could be done here in Middlesex County, Connecticut, where I do about 90% of my business. However, this loan program is now available in all of Middlesex County except Middletown, and Cromwell. In fact this Loan Program is now available in most of Connecticut. There are only three Counties that now have limited number of towns that it can be done in, Hartford County, New Haven County, and Fairfield County. The rest of the Counties in the State, there are only one or two towns in each County that it is not available. Here in Connecticut my main go to Loan Product for First Time Homebuyers has been Connecticut Housing Finance Authority (CHFA) which I have blogged several times in the past about. But the USD... 03/31/2009

The Middlesex Chamber of Commerce will be conducting a workshop on Social Networking on Wednesday April 22nd from 9:00 to 10:30 a.m. The workshop will actually be conducted by an ActiveRain member in Middlesex County, Connecticut, Diana Bartolatta. This was actually discussed at our monthly Middlesex Realtors Council meeting a couple of months ago, and everyone present felt that this playing a big part in the way we do business today. The goal of the workshop is to help us expand our business, and should benefit all who attend. The workshop will be tailored specifically for the Real Estate Industry, and presented in a way that those who are new to Social Networking will be able to understand. This workshop is free to all who want to attend and will demonstrate methods that we can all us... 03/29/2009

              When we hear someone say CHFA here in Connecticut, we automatically think Mortgage Program for First First Homebuyers. But mortgages for First Time Homebuyers are not the only programs that CHFA provides. One of those programs that is provided by CHFA that is not well know is “The Emergency Mortgage Assistance Program (EMAP)”. This program offers financial assistance for up to five years to Connecticut homeowners who are going through a temporary financial hardship, who have fallen behind on their mortgage payments, and have been given a foreclosure notice by their lender. This program does have strict requirements, and was not designed to assist everyone that has fallen on hard times. It is meant for a specific group of people that meet the following requirements: The de... 03/27/2009

On Wednesday April 1st Realtors as well as other Real Estate professionals will be gathering at the State Capital in Hartford for the 25th Realtor Day At The Capitol. This event has always been well attended in the past, and it is an opportunity for Realtors from all over the state to raise their concerns to their State Senators, and House Representatives about proposed legislation. By coming together like this Realtors have been able to prevent the passage of legislation that would have negatively affected Buyers and Sellers. This year as in the past there is legislation that is being proposed once again that would have an negative impact on the Real Estate Industry.  Legislation that Realtor Boards across the state will be apposing include: HB 6349 which expands the sales tax to profe... 03/26/2009

THIRD CONGREGATIONAL CHURCH MILITARY WHIST 94 MINER STREET MIDDLETOWN, CT I received a call from the 3rd Congregational Church to see if I could blog about the card game Military Whist.  They are having this at the church this Thursday, tomorrow, March 26th starting at 6:30pm.  I personally am not familiar with this game, but it seems like fun once they told me about it. So, if you are looking for something different to do stop by and check it out.  I'd love to hear what you think of the game.     FOR ACCURATE INFORMATION ON REAL ESTATE.. CONTACT YOUR LOCAL AGENT   Info about the author: Valerie Osterhoudt is a Cromwell Connecticut Residential Realtor who can assist you with the purchase and/or sale of real estate in the Middlesex County of CT, which includes Rocky Hill, Berlin, Middlet... 03/25/2009

Connecticut is an Attorney State, which means that Attorneys are the ones that conduct Residential Real Estate Closings.  This also means that Attorneys besides preparing the Closing Paperwork are the ones that do the Title Search, take out the Title Policy, and prepare the HUD-1. Here in Middlesex County most Attorneys follow a similar procedure to one another, but when it comes to preparing the HUD-1 and funds needed for Closing, like oil tank adjustments, and special assessments. they do not follow one set procedure.  This can be a problem for those of us who try to give our Buyers/Borrowers a close estimate of what kind of funds they might need when we first meet with them. Realizing that having different methods of arriving at the Closing Costs on the HUD-1 presents a problem for t... 03/22/2009

Credit Repair in Middletown CT National Credit Fixers: 330 Roberts Street 4th Floor East Hartford CT 06108 phone: 860-282-6181 www.nationalcreditfixers.com National Credit Fixers boasts of 12 years experience repairing low FICO scores. Whether your credit has been damaged by a foreclosure, bankruptcy, slow credit, collections, judgments, repossessions, etc. we can help. We are the experts in credit restoration and credit repair.  National Credit Fixers is a reputable company that can legally remove negative items off of your credit reports and help you qualify for the best rates possible! Information contained in your credit file must be reported according to a law called the Fair Credit Reporting Act (F.C.R.A.). If the information isn't accurate or verifiable then it must be deleted.  ... 03/22/2009

The Middlesex County Chamber of Commerce will be holding their 25th Annual Business After Hours Taste of Downtown & Auction, on Tuesday, March 24 2009, 5:00pm - 8:00pm at the Sons of Italy Hall in Middletown.  This is a great event to not only help to raise money for the community by bidding on items that have donated by Chamber members, but to also to taste delicious food from 18 downtown restaurants,and network with others in the community. I have attended this event in the past, and have always had a great time, and made new business connections.  So mark you calendars and plan on coming.  You might even have more fun if you plan on coming with a group of Friends and really make a fun evening of it.   ***********************************************************************************... 03/21/2009