Obama Announces New Home Assistance Initiative

President Obama announced a new initiative (Click Here) to help underwater homeowners refinance and take advantage of low interest rates. This is certainly one step in the right direction to help with the housing recovery.

Great News About VA Loans

The Department of Veteran Affairs (VA Loans) has announced a reduction in the funding fee they charge on new loans.
Beginning November 18, 2011, the fees will change from 2.15% to 1.40% for first time use and from 3.30% to 2.80% for subsequent use.
This is GREAT NEWS and please pass along to any potential buyer you know that might be VA eligible.

Debit Card Fees Are Coming - How to Avoid Them

By this time just about everyone has heard of Bank of America's plan to charge their debit card holders a monthly fee of $5.00. OUCH!! Just when we have become accustomed to the convenience of using these cards, someone wants to pick our pockets. Here we are in the Great Recession, so who got that bright idea? Actually it is a response by the banks to make up for income lost by the downturn and tightening of government regulations on what they can charge elsewhere. Either way, it ranks (pun intended) right up there with fees airlines charge for bags, carry on bags and sitting in an aisle seat! However, I digress. This article explains the problem and offers some suggestions on how to avoid debit card fees. The strategies can be summed up as follows:
1) Pay with Cash – Remember when it was king? Those days are coming back.

2) Pay with Credit Cards - Rewards have been increasing.

3) Switch Banks - My wife says vote with your feet and walk if needed.