Welcome to 2020!

Happy New Year from our family and Hitch

We are just into our second week of the new year and I hope your new year is off to a great start! I like to use this time of year to review my goals and make adjustments to my plans.

Last year, my goal was focusing on “purging”. We had sold a vacation rental and had extra everything stacked up in our home. Our kids happily helped us with some items, some we sold and other items were donated. We’re also still going through some of our kids items that have been left behind as they’ve moved into their own homes. It’s fun to have a box of their goodies waiting for them to see what they want to take to their home or donate when they come to visit.

I also managed to lose 10 pounds by focusing on my health. I began by using Noom but I’ve since dropped that membership and I’m managing this on my own. I hope to lose another 10 pounds or so this year and continue to make improvements to my health. Speaking of health, I also donated blood for the first time in 2019. I plan to donate again this year – it’s something very easy to do!

The “purge” also filtered through my financial life with trying to eliminate or reduce subscriptions or services that I don’t really need – such as our land line or “tools” that I have not implemented with my mortgage profession. For example, I’m setting a deadline for using my video subscription…you just might be seeing more of me!

I guess I really look forward to reviewing the past and making plans for the future. If your plans include buying a home, investment property, reducing your mortgage payment or refinancing to reduce debt, I am happy to help you!

I wish you and your family a very happy and healthy 2020!

Retirement, random thoughts and your mortgage

I read an interesting article about planning for retirement. This is a topic that I find very important. I’m not a financial planner, however as a Mortgage Professional I see a financial snapshot of what people have when applying for a mortgage. I concur with this article from CNBC, most people do not have enough money saved up for their golden years. [Read more…]

Financing a “multi-generational” home


It’s becoming more common for families to have multiple generations living under the same roof. Some families opt to commit to buying a “multi-generational” home together designed to accommodate their lifestyle, whether it’s a home with an attached or detached dwelling unit (aka mother-in-law apartment) or even a home built specifically for generations to live together, there are options available for living with your parents and/or grown children. [Read more…]

Buying a home? You may want to delay filing your taxes right now.

If you are in the market to buy or refinance your home around tax time, you might want consider filing an extension. This is because some lenders require taxes to be verified if a tax return has been filed. The IRS typically winds up taking several weeks to process verifications from lenders during this time of the year. This can potentially cause a delay with closing of some transactions. [Read more…]

My 50th Birthday!

This past weekend, I celebrated my 50th birthday with family and friends. I have two (not much) younger sisters who love to ask “don’t you feel older” and my answer is typically “not really”. I’m actually pretty excited to be the big 5-0…beyond being able to join AARP! [Read more…]

Mortgage Insurance Tax Deductible for 2015 and 2016

Money in pocketI’m receiving gleeful emails from various private mortgage insurance companies announcing that mortgage insurance will once again be tax deductible. This is thanks to the PATH Act extending certain tax benefits to eligible home owners.

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Mortgage Insurance Deductible through 2014

You may have heard that last week, Congress passed and President Obama signed the 2014 Tax Increase Prevention Act. It has some good news for home owners who currently pay various forms of mortgage insurance. If you pay mortgage insurance, including private mortgage insurance (pmi), or VA, FHA or USDA forms of mortgage insurance during 2014,  you may be able to deduct that on your 2014 income taxes.

Before you get too excited, this act does not extend the mortgage insurance deduction past 2014.

So if you are paying any form of mortgage insurance, especially if it’s private mortgage insurance or FHA mortgage insurance, it still makes sense to see if you can eliminate or reduce your payment with a refinance as you will not be able to deduct your mortgage insurance during 2015 (as things currently stand).

If I can help you with your refi or home purchase on property located anywhere in Washington state, please contact me!

 

Tips on how to save up for a down payment

iStock_000009450603SmallGet Rich Slowly recently posted How to Save Up for a Down Payment Fast.  I’d like to respond to some of the ideas offered in GRS’s post from a Mortgage Professional’s viewpoint and offer my advice.

Here are some of the suggestions on How to Save Up for Down Payment Fast along with my 2 cents (in italics).

[Read more…]