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March 2009


Bill Payer Program for Seniors - Burlington County

Posted at 11:36 AM, Mar. 31, 2009

Burlington County’s “Bill Payer” program for seniors, co-sponsored by the Office on Aging, has trained volunteers available to help low-income elderly and the disabled with money management to make sure their bills are paid and they can continue to live independently.

The assistance is coordinated by the Retired and Senior Volunteer Program (RSVP) office at Burlington County College in Pemberton. The County Office on Aging contributes funding toward the program.

RSVP Director Karen Bennett is looking to the get the word out to prospective clients who need this kind of money management help.

The AARP (American Association of Retired Persons) and NJ Division of Aging and Community Services also are co-sponsors. For more information on required income and asset guidelines, call the RSVP office at (609) 894-9311 or (856) 222-9311 x 1358.

Author: Press Release--Burlington County


Mortgage rates at 52-year low

Posted at 4:15 AM, Mar. 27, 2009

NEW YORK (CNNMoney.com) -- Home mortgage rates dropped to a 52-year low this week, according to a report released Thursday (3/26/2009), in the wake of the government's announcement that it will buy more than $1 trillion in debt.

Follow this link for the complete article: http://bit.ly/IXCQG

 


Mortgage Modifications, Fraud and Predators

Posted at 8:13 AM, Mar. 18, 2009

The typical phone call starts out starts out with a dialog stating that  if you are having trouble with your mortgage we can help you. These are  not the exact words but the message is the same. The message goes on to  say that if you would like to talk to someone about your mortgage dial 1 to talk to someone.
 
Be aware! Caution! Just hang up! The economy is adjusting to the mortgage/real estate bubble bursting and many homeowners are having problems with their mortgages.
 
There has been a lot of talk about mortgage loan modification; however New Jersey Homeowners should be warned. In New Jersey anyone that works to adjusts mortgage payments or terms of payment on behalf of a homeowner is acting as a debt adjuster must be licensed by the State of New Jersey.

The reason I bring this up is that I have been inundated with email requests by companies outside New Jersey to work for them to modify mortgages of home owners in my geographical area. Our office phones have received three computerized phone calls just this week from companies looking for homeowners in distress. As a REALTOR® I am not licensed to modify mortgages. Mortgage brokers are not licensed to modify mortgages. In fact the mortgage broker that provided your mortgage is not allowed to modify the mortgage in any way.
 
If your curiosity is getting the best of you, and you don't want to hang up the phone, here are the questions to ask:
1.      Is your company licensed in the State of New Jersey? You may get an answer that the company is owned by attorneys. Then just follow up with are the attorneys members of the New Jersey Bar?
2.      What is your New Jersey Debt Modification License number? The conversation will generally not get this far but generally this will be the hang up question. The best solution is below.
 
If you are having trouble making payments on your mortgage you should be calling your mortgage company yourself. If you think you need help form someone there are places to look for legitimate financial help or debt adjusters.
 
Here are places for you to start your research:
1.      Avoid Scams see this link: http://www.makinghomeaffordable.gov/beware.html
2.      Are you eligible? http://www.makinghomeaffordable.gov/
3.      Contact your mortgage company: http://www.hopenow.com/
4.      If you need help: http://www.makinghomeaffordable.gov/counselor.html
 
A few weeks ago I attended a town meeting to help people with consumer credit. Here are more to go to for help:
1.      Russell E. Graves, Consumer Credit & Budget Counseling www.cc-bc.com - (609) 390-9652 or (888) 738-8233
 
 
 
Bart Erickson - The HouseJeanie Team - www.HouseJeanie.com