Sandra Bolcar

The other realtors have done a good job in explaining that it takes 3-5 years in general to pay off points. You would have to see the difference in the payment and whether it was worth it overall buying down the interest rate and how long you plan to stay in the home. You have to be careful about mortgage agents telling you that they will refinance you for free in one or two years to get a better rate, etc. because then paying the points just became redundant --you are starting from scratch all over again. You must stay in the same loan to take advantage of the buy down points paying themselves off in 3 years or so.
If you really figure out that you are prepaying interest at today's dollars instead of over the next five years - that has another impact but the points are tax deductible in the year you pay them. Okay, it gets really complicated. Best to figure out if you need the write-off now or for future earnings It's best to talk to your accountant. They may shed some light on whether it's worth it - since that was your question.
Good luck.
Sandra Bolcar
RE/MAX VILLAGE SQUARE
Upper Montclair, NJ
973-744-7722
sandra@thecrosskeysteam.com - Sat Apr 12 2008, 11:21

Hi Bill:
Is this a web based program? If it is desktop, then you could be limited and you would have to use Outlook as your e-mail to generate drip campaigns - if they have them. For $29.95/month I use Top Producer 7i which is hosted by TP and you can access it from any computer. It's web based and has many add-on products for marketing campaigns. It does just about everything you will want in the real estate business. I have used them since 1991, and although I have often looked at other products I think I would like better, I have not switched. They have improved over the past 5 years. Check outhttp:// www.topproducer.com
Outlook and ACT can be customized for real estate and there are companies out there that do this.
Good luck.
Sandra Bolcar
RE/MAX VILLAGE SQUARE
Upper Montclair, NJ 07043
973-744-7722
sandra@thecrosskeysteam.com - Mon Apr 7 2008, 06:35

I have one word - Rubbish! None of this sounds like he has a case by real estate standards. Reporting you to a collection agency or suing for an amount yet to be determined does not make sense. Is he trying to sue to recover marketing costs? It's a very weak case at best. You mention about not asking to receive something - if you did not receive copies of anything you have signed with the listing agent, then you can void that part of the agreement. Good luck.
Sandra Bolcar
RE/MAX VILLAGE SQUARE
Upper Montclair, NJ 07043
973-744-7722
sandra@thecrosskeysteam.com
Get a free market snapshot here: http://www.homeinsight.com/Widget/default.asp?WK7JL36V3VLE - Wed Apr 2 2008, 17:10

I don't handle your area, but a good agent will be able to offer what I call a Property Alert Service complete with the latest listings to arrive on the market (plus price reductions and back-on-market homes) right to your in-box each day complete with addresses, maps, extra photos and tax information.
I also offer a Market Snapshot which analyzes the market with available and solds in your town of choice
relegated to North Jersey I'm afraid. Here is the link for anybody who wishes to use it:
http://www.homeinsight.com/Widget/default.asp?WK7JL36V3VLE
My customers really like what this has to offer.
Good luck.
Sandra Bolcar
Broker-Associate
RE/MAX VILLAGE SQUARE
Upper Montclair, NJ 07043
973-744-7722
sandra@thecrosskeysteam.com - Wed Apr 2 2008, 16:58

With a 90/10, you sound like you are already 100 percent financed and that 12 percent interest rate while only on 10% of the loan is very high. You have been in the loan almost a year so it is okay to refinance but you may have to work with the bank because your financial position has changed. You don't sound like you have a lot of options open to you. Besides a healthy cosigner, perhaps you would qualify for a government grant program since your income level has dropped. These are usually reserved for new purchases with Ameridream or Nehemiah (seller assisted downpayments); but check with a good mortgage rep about the income limits for such programs.
The worst case scenario could be that your home is now not worth the mortgage amount and if you can't keep up with the mortgage payments and there is no relief in sight, you might want to consider a short sale with the bank. This is where the home is sold below the amount that is owed on it. Today, you can sign off and be forgiven the difference in the amount and not even have to claim it on your taxes anymore. If you need further information about progressive mortgage programs, please contact me:
Sandra Bolcar
Broker-Associate
RE/MAX VILLAGE SQUARE
9730-744-7722
sandra@thecrosskeysteam.com - Wed Apr 2 2008, 16:44