Current Affairs - The Mortgage Porter

Humor and Taxes

March 13, 2007 by Rhonda Porter Leave a Comment

With April 16 rapidly approaching, the phone calls and emails from clients begin to really pick with with questions about their tax deductions. I recommend using a CPA to help you with your taxes, especially if you’re itemizing (which you need to do in order to deduct mortgage interest). Here are a few links you may find helpful regarding mortgage income tax deductions:

Your Home as a Tax Shelter: Top Ten Tax Deductions for Owning Your Home

10 Real Estate Tax Breaks You Should Know

IRS Publication 530/Tax Information for First Time Homeowners

IRS Publication 936/Home Mortgage Interest

Now…a little humor to lighten this post up a bit.

"The only difference between a tax man and a taxidermist is that the taxidermist leaves the skin." Mark Twain

"The hardest thing in the world to understand is the income tax." Albert Einstein

"The purpose of a tax cut is to leave more money where it belongs: in the hands of the working men and working women who earned it in the first place." Robert Dole

If you find you’re getting a nice big return back on your income taxes, you may want to consider adjusting your withholding by increasing your exemptions. Again, this is a matter to discuss with your CPA. There’s no reason to give the Government an interest free loan of your money when you can be taking home a little extra each month…just my 2 cents!

Filed Under: Current Affairs, Financial Planning

Spring Forward

March 10, 2007 by Rhonda Porter Leave a Comment

Just a friendly reminder that Daylight Saving Time is early this year. You will need to "spring forward" at 2:00 a.m. on Sunday, March 11, 2007. Or, just reset your clocks before you go to bed tonight.

Filed Under: Current Affairs

The Times…They ARE a Changing

March 8, 2007 by Rhonda Porter 3 Comments

For the first time ever in my career, I had to contact a client to tell them that the Good Faith Estimate that I had provided him earlier today is no longer valid. This is a person who was getting ready to buy a condo utilizing an 80/20 and stated income. His mid credit score is above 750.

I received an email just after 7:00 p.m. tonight from Greenpoint Mortgage (more of an “alt-a” than a subprime lender) stating that all 80/20 mortgages must be funded by the end of this month. Regardless of how high the credit score is or even if the loan is “full doc”, Greenpoint, along with many lenders, is pulling in the reigns tight.

Just another warning to double check your preapprovals if you’re planning on buying zero down, stated income, interest only…even if you’re not considered subprime.

Filed Under: Current Affairs, Mortgage, Refinance, Residential Purchase, Subprime Lending

JP and Gertrude Honored

February 10, 2007 by Rhonda Porter Leave a Comment

Today in Fremont, Center of the Known Universe, JP Patches and Gertrude were honored with the unveiling of a statue to be completed by this date next year. Today marks the 50th Anniversary of JP’s first television show aired in Seattle. Patches Pavers are being sold in order to raise funds for the creation of the statue which will be bronze and at the entry of Fremont Bridge featuring JP, Gertrude and ICU2TV which will be a piggy-bank for donations towards Children’s Hospital.

In addition, Tully’s will contribute 25% of their revenue for beverages purchased on June 4, 2007 towards the statue and Children’s Hospital. I’ll post a reminder when we’re closer to that date and when there’s more information available.

In this picture, I had just given JP a bottle of wine (2005 Mollydooker Two Left Feet) as a gift since we had hired him to perform our wedding ceremony on April Fools last year but had a change of plans since we eloped. If you would like to see more photos from today’s event, click here. Below is the video of him accepting the gift, claiming the wine to be "cough syrup" for his cold.

Filed Under: Current Affairs, Just for Fun, Seattle

Don’t Miss the Boat…or the Explorer West Auction!

January 20, 2007 by Rhonda Porter Leave a Comment

Explorer West will be holding their 7^th annual dinner and auction on the evening of March 17^that the Jerry Brockey Student Center at South Seattle Community College.

This year’s theme is “All Aboard the S.S. Explorer West!” I can’t even imagine what the talented folks at Explorer West are dreaming up for this adventure. Last year, the auction’s theme evolved around Paris. When you entered the room, you were greeted by a 30 foot tall Eifel Tower (including the light show) and felt as though you had stepped into a street side bistro. I’ve gone to several school auctions in my lifetime, this one amazed me.

It’s not too late to advertise in their auction catalog…ads must be submitted by February 1, 2007. And the school is still procuring items for the auction as well. If you would like to attend this event and/or promote your business to a southwest Seattle area school and do a good deed…here’s your chance!

Filed Under: Current Affairs, Just for Fun, Seattle