RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

Mortgage Delinquencies Fall as Credit Improves

August 20, 2015 2:15 am

Fueled by an improving credit landscape, the mortgage delinquency rate has rapidly declined, recently falling to 2.72 percent, according to TransUnion’s Industry Insights report. The rate is characterized as the rate at which borrowers are 60 days or more delinquent on their mortgages.

“This is the lowest mortgage delinquency level we’ve seen in several years–down from a peak of nearly 7 percent in early 2010,” explains Joe Mellman of TransUnion. “This is largely due to foreclosures and other seriously delinquent accounts continuing to work their way through the foreclosure process, as well as a reflection of the high credit quality of recent originations.”

Average mortgage balances per consumer continued to increase, up to $188,237, according to the report. The largest mortgage balance growth was observed in the Super Prime risk category, with balances rising 2.5 percent. The Prime risk group also increased by 0.5 percent; the Prime Plus remained approximately the same. Both the Subprime and Near Prime categories experienced mortgage balance declines of -2.9 percent and -1.0 percent, respectively.

Source: TransUnion

Published with permission from RISMedia.


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10 Tips for Road Trippers

August 19, 2015 12:15 am

During peak travel seasons, embarking on a road trip is one of the easiest ways to get to your destination. All you need is a full tank, the open road and these smart tips, courtesy of the editors at Rand McNally, publisher of the Road Atlas series.

1. Plan your trip. There often are many sources for planning, but use those with which you feel most comfortable. Talk with friends and family for recommendations.

2. Load the car strategically. Start with the least essential items, followed by gear you'll need to access, including grab-and-go overnight bags. Keep absolute essentials nearby, especially medications.

3. Improve fuel economy. Roll down the windows when traveling at lower speeds, and use the air conditioning for highway driving. Hot weather can actually increase fuel economy since your engine warms up to an efficient temperature faster. Warm air also tends to cause less aerodynamic drag than cold air.

4. Be road ready. Pack a first-aid kit, plenty of tissues, moist wipes and a travel size spray bottle filled with rubbing alcohol. You can use the alcohol to sanitize hands and clean surfaces.

5. Bring a cooler. It's smart – and wise for your budget – to bring a small cooler filled with drinks, fruit and other healthy treats to stay well hydrated and well nourished on the road.

6. Pack for entertainment. The license plate game can only go so far until the inevitable delay looking for the elusive Hawaii plate. Bring car games, print and audio books, and tablets loaded with digital books, games, and movies.

7. Create a customized playlist. Have fun selecting the perfect soundtrack to your road trip. If you don't have time to make your own, find a compiled playlist at www.NPR.org.

8. Pack a separate container to hold recyclables.
If your campground doesn't offer recycling, use an app to help locate recycling centers.

9. Stay connected.
Bring a wireless router for mobile Internet access.

10. Take time to try new things
. Whether it's pulling over for a scenic overlook or stopping for lunch in a local diner, make time to explore beyond the official itinerary.

Source: Rand McNally

Published with permission from RISMedia.


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