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With rates rising since early May of this year, homeowners should take a long hard look before committing to an adjustable rate mortgage, or ARM, as we like to call them in the mortgage business. An ARM can be a great tool that can save you money, but it can also be a dangerous product that can put you in financial distress. ARMs come is various sizes, and usually a 3/1, 5/1, 7/1 or 10/1 ARM are the most common. What this means is the mortgage is spread over 30 years (like a 30-year fixed rate), but the rate is …

Boomers and Seniors: How did things go so wrong? Recent studies indicate that only 48 percent of those 65 and older have even basic documents such as financial powers of attorney. Worse yet, less than 60 percent have health care powers of attorney in place. Boomers and Seniors: Estate Planning is not just for the rich! Furthermore, estate planning is not just about death and dying, but rather about living in the second half of your life. This involves consideration of the following: * How to cover living expenses during the elder years and retirement years * How to access …

Years ago, buyers and sellers would sit together to make the deal happen. In today’s market, it’s very rare for buyers and sellers to actually meet until the closing day, if ever. The only experience one has of the other party is through their agents or attorneys. Sellers, let me ask you a question. Have you viewed your home online? In today’s market, be sure to choose a broker who has a heavy focus on internet marketing. With that said, new properties pop up on the internet daily that aren’t up to par. Buyers want to be able to experience …

I have two types of friends: the kind that has a list of 47 things to do and remembers to do every one of them in order, and then there’s the other kind. I forget what it’s called! Forgetful! Early in the morning, I am highly caffeinated, alert, focused, and capable of getting a lot of things done (like writing my column!). Right after lunch, I might as well be asleep. I think I know why our forebears and Italian cousins like to take that nap in the afternoon! Without ever meeting them, it seems like the clerks who wrote …

In today’s society and as we age, we must understand that the greatest threat to middle-class, senior-citizen taxpayers is the devastating cost of long-term care. The way to begin preparing is to recognize that we go through three phases in life and those phases are the: 1) maturing years, 2) senior years, and 3) post- death years. Don’t make the mistake of assuming because you had your local attorney prepare a will, trust and power of attorney that you have prepared for your long-term care. In most cases, these documents do little to help. Take these steps: 1) Recognize that …

You decide to place your home on the market and hire the perfect Realtor, at least that’s what you thought. After placing your home on the market, though, it just sits for months and months without any showings. After contemplating everything, you decide it’s time to change Realtors or companies. But how? Before deciding to fire your Realtor, take a strong look at your listing and other homes that have sold while yours has been on the market. Is it truly the agent or is it the home itself? Many times the Realtors are easy to blame but in actuality …

On April 30, bond fund king Bill Gross of Pimco Co. said he believed that the bull run in bonds had come to an end along with the low interest rates that have propelled it. Judging by how high rates have come up since those comments you would think that the market was listening to his every word. During the last two weeks of May and into the first week of June, mortgage rates moved up from 3.375 percent on a 30 year fixed to 4.25 percent. That is a pretty dramatic increase in such a short period of time. …

Nobody would buy a home without being represented by a real estate attorney. So why is it that most seniors are signing nursing home and other long-term-care contracts that require them to pay $6,000 to $10,000 a month for the rest of their lives and never give them to an elder law attorney to review? Nursing homes in our metropolitan area can cost anywhere from $6,000 to $10,000 a month. That means that the nursing home contract can cost you between $72,000 and $120,000 a year! How can you enter into a contract of this magnitude without adequate legal advise? …

Home buyers dream of that perfect home with just the right amount of square footage, but for many, that dream will never become a reality. Even if your home has less square footage than you had hoped for, opportunity often exists right under our very noses. In most homes, up to 20 percent of the available space is underutilized. For some, it’s a long, narrow hallway or an attic employed only to store Christmas decorations. For others, it’s a formal dining room used only twice a year. To find more room where none appears to exist, you need to rethink …

I have found some great tutorials on Italian genealogy on the always-growing Familysearch.org!! Last month I talked about web sites available at the Family History Center Services Portal. That can be found at https://fhc.familysearch.org/ This part of the portal can be accessed from home. You do not have to visit a Family History Center to access these areas. The databases are limited due to site licensing issues, but these help areas are meant to be free to the world. Once you are in the portal, click on Family Search Research Wiki — it is on the right side of the …