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

Becoming a Homeowner in 2015? What You Need to Know

December 31, 2014 12:57 am

With uncertainty over mortgage rates growing and new Fannie- and Freddie-backed programs rolling out next year, those seeking to buy a home will continue to contend with changing standards. If you’re planning to become a homeowner, take these steps before borrowing.

1. Get preapproved.
Stay ahead of the game by actually getting preapproved for a loan – not by getting an estimate from a lender. Not sure if you’ve been officially preapproved? Take note of what your mortgage professional does – if your credit report was submitted to an underwriter, you’re in good shape.

2. Don’t alter your credit habits. Don’t risk hurting your credit score while securing a mortgage. Keep all balances within normal range and avoid opening or closing credit cards – your debt-to-income ratio may suffer.

3. Avoid moving funds.
To mitigate your financial liability, put off moving funds until after you’ve closed on the home. That means no cashing out on investments, retirement accounts or CDs. Additionally, don’t use your savings to pay off debt or fund a CD – this can be a red flag to lenders.

4. Get your down payment gift early. If family is helping you with a down payment, have them deposit the money in your account more than two months prior to applying for a loan. You’ll avoid hassle with the banks trying to track down the source of the funds.

5. Create a PDF of all documents. Round up all documents related to your finances: bank statements for checking, savings and investment accounts, pay stubs, W-2s, tax returns and canceled rent checks. Compile these into one PDF for your lender’s convenience.

6. Be prepared to write letters. Lenders will want to know details about every potentially harmful financial scenario before approving your loan. If there are any discrepancies in your financial history, such as frequent moves in a short amount of time or a substantial monetary gift, be prepared to explain these situations thoroughly in a letter.

7. Cut costs on mortgage insurance. The new Fannie Mae and Freddie Mac mortgage programs require as little as three percent for a down payment – but insurance premiums through the FHA will come at a higher cost. Opt for private mortgage insurers, which generally have cheaper premiums.

Source: Bankrate.com

Published with permission from RISMedia.


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5 Tips for New Year's Resolutions in 2015

December 30, 2014 2:57 am

If you’re one of the millions of Americans who will make a promise to improve yourself this New Year, there’s bad news: You’re 92 percent likely to fail in sticking to your resolutions, says a recent study from the University of Scranton’s Journal of Clinical Psychology.

About 45 percent of Americans make resolutions. Ranking at the top is losing weight, and staying fit and healthy ranks No. 5.

“Of course, those statistics represent the average – you don’t have to be average!” says Dr. Virender Sodhi, founder of the Ayurvedic and Naturopathic Medical Clinic, (ayurvedicscience.com), which provides complementary and alternative medicine.

“There are plenty of things individuals can do to improve their odds of success if they resolve to become healthier and fitter.”

Dr. Sodhi, author of the new guide, “Ayurvedic Herbs: The Comprehensive Resource for Ayurvedic Healing Solutions,” (www.ayush.com) believes we can move much closer to a world of disease-free societies by following the laws of Mother Nature. Individual commitment to health via New Year’s resolutions is one path to take us there. Dr. Sodhi offers five tips for staying true to your goals.

Get away from the instant-gratification mentality and avoid unrealistic goals. Don’t expect to go from zero to 60 – 60 being your ideal body image – in just a few months, especially if you have little background in training. Unfortunately, most who have resolutions like losing plenty of weight and quitting smoking are used to easy snack foods and quick rewards. Health is a long-term labor of love; commit to the love and wait for results.

Establish good habits! People make resolutions because they know they’re important, but they’re hard. With each passing week, more people drop their promises for self-improvement. You’ll want to set the right goals; if you want to lose 100 pounds, focus on the first 10, and then the next. Make sure to establish new and good habits – it takes about 28 days to stick. Once you train your mind with good habits, achieving your goals becomes much easier.

What you should expect from your “labor of love.” Frequency, intensity and time – these are the three investments you’ll need for losing weight or gaining muscle. As a general rule, exercise at least 30 minutes three to four times a week. Make sure to start with the appropriate intensity for your health; too little intensity and you’ll see little if any results, but too much and you’ll be prone to quit. Don’t think that it’s always better to exercise for a longer duration. What matters is quality. Increase time and intensity once you comfortably meet goals.

Solidify the gains with persistent positive reinforcement. Learn to reward yourself in a new way by paying attention to the gains in your body. Notice the improvement in stress levels, breathing, energy, sex life, mood and overall strength. While these improvements are wide-ranging and palpable, they increase over time and can be subtle. Don’t let these improvements occur without a personal recognition of your accomplishments.

Embrace supplemental support. Of course, all health efforts are connected to your overall well-being. When you make the investment to eat more vegetables, you’re reinforcing your commitment to exercise. Consider practices such as yoga and meditation, which will feed your health kick and provide unexpected benefits. Additionally, supplements such as kelp, green tea extract, Commiphora mukul (Guggul) and Bauhinia variegata (Kachnar) can yield even more health benefits. And, spices such as garlic, onion, black pepper, ginger, cinnamon, long pepper, and cayenne pepper all have important thermogenic properties, which stimulates metabolism.

Published with permission from RISMedia.


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