HAPPY NEW YEAR **!!

Your REALTOR:
Bonnie Fagoh
January 2000
Buyin' or Sellin'....Call Bonnie Helen! (Fagoh)(813) 390-7606
Copyright © 1999 Realty TimesAll Rights Reserved.
Y2K Act Protects Foreclosures Triggered By Glitches A little-known section in the Year 2000 Readiness and Responsibility Act (H.R. 775) protects home owners from foreclosure if a computer glitch results in unprocessed mortgage payments. Section 4 (Application of the Act), Sub Section H (Consumer Protection From Y2K Failures), Paragraph 1 (General) of the Y2K Act says:"No person who transacts business on matters directly or indirectly affecting residential mortgages shall cause or permit a foreclosure on any such mortgage against a consumer as a result of an actual Y2K failure that results in an inability accurately or timely to process any mortgage payment transaction."
Mortgage RatesNational averages as of December 30, 1999:
30 yr. fixed: 7.83%15 yr. fixed: 7.44%1 yr. adj: 6.39%
Get today's rates
The Y2K Act was signed into law this summer primarily to limit lawsuits directed at the failure of any device or system relating to Y2K problems. However, legislators considered potential problems significant enough with
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Wondering What Your Home Is Worth?Let me show you.
Can I Relax Now That MyLoan Is Pre-Approved? W hen homebuyers begin feeling rather smug and complacent after their loan is pre-approved, they somehow think they can go on "autopilot" until closing. The truth is, a solid loan pre-approval with no conditions is a fairly safe bet that everything will sail smoothly, but it certainly is no guarantee. During the time between loan origination and closing, varying factors can enter into the "picture" that may call into question the homebuyer's ability to re-pay a mortgage loan to the lender in question. Most of these factors and responsibilities sit squarely on the shoulders of the homebuyer. Safeguards for buyers (borrowers) to observe after the loan pre-approval and before the home's completion may include the following:
Changing jobs: Buyers represent themselves as being employed in a particular line of work at a particular rate of pay, and may offer the lender promises of salary bonuses or future commissions during the escrow process. This may all look great to the lender, with verifications received from the homebuyer's employer of all of the above. The danger here is in making a change after the fact. Many lenders agree that borrowers must have at least two years' stable employment history with their employer, and if they must change jobs, they should stay
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The Truth About Condo Living P eople buy condo - miniums for a myriad of reasons. These attached dwelling units are more affordable than single-family homes and, consequently, are attractive alternatives for first-time or low-income buyers. Sharing maintenance and repair responsibilities appeals to people who have limited time or aren't interested in such chores. Many condo complexes have swimming pools, recreation rooms, tennis courts or other amenities, and many condominiums are located in highly desirable resorts, golf course communities or vacation hot spots. Of course, there are pluses and minuses to community living. If you're thinking about buying a condominium as a full-time residence, here are some questions to consider: Are you a good neighbor? Like apartment tenants, condo - minium residents share walls, floors, ceilings, hallways, entrances and parking areas with their neighbors. Respect for other people's right to the quiet enjoyment of their homes is part of the arrangement. Your neighbors will appreciate (and hopefully reciprocate) your efforts to turn down the volume, walk softly, close your doors quietly and limit your vacuuming to reasonable hours. If you're a noisy neighbor, you won't be welcome. Are you willing to follow the community's rules? Condominium owners are bound by the association's covenants, conditions and restrictions (CC&Rs). These thick legal documents cover everything from special assessments and the election of
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Exciting Building ProductsFor Exciting Times Okay, so cars still don't drive themselves and most of us still have to walk up and down aisles to buy groceries -- two things I predicted in my teens we wouldn't have to bother with in the 21st century. Personal Baby Boomer predictions notwith - standing, there are still a lot of exciting things happening in the building industry for the new millenium. BUILDER magazine enters the new century with 50 of the most inquired-about new home products in their December issue. Although space prohibits all 50 being mentioned here, see if any of these cutting edge products gets you feeling "switched-on" about the future of homebuilding: Concrete: One of the most durable materials in homebuilding, concrete is now used in much more exciting ways than just foundations and driveways in new homes. Products from Insulated Concrete Forms, to patterned floors make the future of concrete look bright indeed. The low maintenance and design flexibility of concrete makes it practical and energy efficient when used structurally. Stay tuned for more and more uses for concrete as wood product prices continue to skyrocket.
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Daily News and Advice -->Read about the events shaping the Real Estate market today, find current interest rates, or browse the extensive library of advice and how-to articles written by some of the top experts in Real Estate. Updated each weekday.
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Bonnie Fagoh E-mail: bonniefagoh@century21beggins.comWeb: WWW.TAMPACOASTALREALESTATE.COM 813-390-7606
Century 21 Beggins Enterprises813-390-76066542 U. S. Hwy. 41 N.Apollo Beach, FL 33572
Equal Housing Opportunity


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