Oct. 6, 2008 - 400,000 CountryWide mortgage holders to get help

B of A to rewite some loans

Reported earlier today, Bank of America, who acquired Countrywide, agreed to pay more than $8 billion to modify home loans, allowing some to forgo foreclosure and keep their homes.  This is the results of law suits filed in California and Illinois.  Other states joining the settlement are Arizona, Connecticut, Florida, Iowa, Michigan, North Carolina, Ohio, Texas and Washington.  Charges were made that predatory lending practices were employed. 

The mortgage aid includes revising customers' payments so they don't exceed 34 percent of income. Other options include reducing interest rates and adjusting principal so that borrowers don't wind up actually losing equity under some payment plans.  Countrywide settled with the states without admitting any wrongdoing.

Under the agreement's terms, Countrywide will reduce principal balances in some cases and cut interest rates in others. Rates could decline to 2.5 percent, depending upon a borrower's ability to pay, and remain at that level for five years. Then the rate would adjust to prevailing interest rates charged by Fannie Mae on its fixed-rate mortgages.

Hopefully, this becomes a model in New Jersey and across the country to help stem the rise in home foreclosures and provides relief to the current housing crisis.

"This settlement will help homeowners stay in their homes, which ultimately helps investors and also helps communities," said Illinois Attorney General Lisa Madigan, a Chicago Democrat.

More at : MSNBC

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Oct. 5, 2008 - Rabid cat confirmed

Franklin Township Health Department Memo

A rabid cat in the area of Willow Avenue was confirmed in a memo from our local Health Department.  Rabies is curable but left untreated can be fatal in humans and pets.  The Franklin Township Health Department Director, Water Galanowsky, offers these rabies reminders:

Have your pets vaccinated against rabies.

A rabies vaccination shot will help protect your dog, cat or ferret from rabies. Make sure your pets stay up to date on their vaccination shots.

Do not go near wild animals.Stay away from stray animals.

Raccoons, skunks, foxes, bats and other wild animals may be infected with rabies and should not be touched.

Do not go near wild animals. Have your pets vaccinated against rabies.  A rabies vaccination shot will help protect your dog, cat or ferret from rabies. Make sure your pets stay up to date on their vaccination shots.   Cats and dogs that roam outdoors are more likely to be infected with rabies and may bite you. Do not try to feed or pet them.

Make sure that your home and yard do not attract wild animals. -  Keep garbage cans tightly covered.  Do not leave pet food outdoors. Cap chimneys and seal places where animals can get in and hide. 

If you are scratched or bitten by an animal - wash the wound with lots of soap and water. Call your doctor right away. Call the Franklin Township Animal Control at 732-873-2500, extension 255 (during business hours) or  Franklin Township Police Department (evenings and weekends) 732-873-2300. 

For more information call: 732-873-2500, ext. 371

Sep. 30, 2008 - Breast Cancer Awareness Walk

Robyn Michele Collins Memorial 5K Walk

You can register to participate or donate to this walk for a cure taking place right here, in Franklin Township, on October 4, 2008.

Sep. 19, 2008 - Century 21 launches new ad platform on Zillow

Ads targeted to users' searches

If you haven’t been to Zillow.com today, then you haven’t noticed that Century 21 is now placing its branded listings right on their home page. In addition, you will find two other local listings.

Inman News reports that such placements exposes the listings to more than 8 million visits every month.  That’s a lot of hits. 

Zillow and Trulia are changing online real estate and Century 21 is right there with them.  For now, this clearly differentiates the Century 21 brand from other brokerages. 

Building on this announcement, next month, Century 21 enhances its presence on Trulia.com by enabling real-time streaming of home sales data to the web page as a display next to a consumers search results. 

Days ago, I wrote about how important sites, such as Zillow, are becoming in the search to find a home today.

Aug. 28, 2008 - South Asian Film Festival Planned

Festival Dates and Venue

You don't need to be South Asian to enjoy this festival.  I attended last year's New Jersey Independent South Asian Cine Festival (NJISACF) held at the Franklin Township Public Library.  For those who missed it, the international films were great! 

The dates and venue for the NJISACF 2008 have been announced. The dates are September 19th to 21st, 2008. On the 19th, there will be a gala opening event, while the film screenings will be held on September 20th and 21st at the Rutgers Busch Campus Center, Rutgers University, Piscataway, New Jersey.

At this year's free festival presents 13 feature films, 6 docu-features and 14 short films with a broad range of themes like identity, sexuality, politics and religion are scheduled. Here is a sample of what you can expect to see.

For more information contact: Asian American Film and Theater Project, PO Box 136, Monmouth Junction, New Jersey, 08852, USA  Telephone: 732.310.0236   E-Mail: saktis@njisacf.org

Jul. 23, 2008 - What gives?...This ain't Kansas

Somerset was under a tornado warning today 

I had just walked into the house, after noticing heavy overcast clouds had buit-up.  The TV was on and all of a sudden there was an alert to switch to community cable channel 8.  There, I heard that Somerset and Middlesex Counties were under a tornado warning, due to heavy area thunderstorms.  I knew the many lightening strikes were close to my home because times between flashes of light and thunder were extremely close. Next, a computerized voice came over the TV and provided details of what times the storm would pass specific areas.  There were also instructions for what to do during a tornado warning. (see below)

During a Tornado

If you are under a tornado WARNING, seek shelter immediately!

If you are in:	Then:
A structure (e.g. residence, small building, school, nursing home, hospital, factory, shopping center, high-rise building)	Go to a pre-designated shelter area such as a safe room, basement, storm cellar, or the lowest building level. If there is no basement, go to the center of an interior room on the lowest level (closet, interior hallway) away from corners, windows, doors, and outside walls. Put as many walls as possible between you and the outside. Get under a sturdy table and use your arms to protect your head and neck. Do not open windows.
A vehicle, trailer, or mobile home	Get out immediately and go to the lowest floor of a sturdy, nearby building or a storm shelter. Mobile homes, even if tied down, offer little protection from tornadoes.
The outside with no shelter	Lie flat in a nearby ditch or depression and cover your head with your hands. Be aware of the potential for flooding. Do not get under an overpass or bridge. You are safer in a low, flat location. Never try to outrun a tornado in urban or congested areas in a car or truck. Instead, leave the vehicle immediately for safe shelter. Watch out for flying debris. Flying debris from tornadoes causes most fatalities and injuries.

The warning seemed to have passed without damage or much wind. There wasn't even a heavy downpour of rain, so far. But, this experience got me thinking...what is the difference between a watch and a warning?  Should you open houe windows during a tornado?  The American Red Cross published an article on tornado preparedness. The University of Milwaukee has issued more information and debuncked a few myths.   And no,spend the time getting to a sfe place in your home, rather than attempting to open windows. 

As a kid, I don't ever recall haviing to worry about tornado alerts while growing up in suburban New York.  My, how times have changed!  Almost one year ago, one touched down in Brooklyn.  It doesn't matter if you are in Kansas or not.  Take care of your self, out there.

You can track local weather here

Jul. 20, 2008 - 2007 Homestead Rebates

Filing Dealine is only weeks away

The State of New Jersey Homestead Rebates have been mailed to homeowners.  If you haven’t received your application, you should shortly. The state suggests calling the Homestead Rebate Hotline if you haven’t received this application by July 23.  Call the Homestead Rebate Hotline at 1-888-238-1233 or e-mail for assistance. When sending an e-mail, make sure you provide the name(s) of the owner(s) and the location of the property which was your principal residence on October 1, 2007.

Applications are not being sent to homeowners who were identified by the Division of Taxation as having New Jersey gross income for 2007 that exceeded the income limit of $150,000, as they are not eligible for 2007.

For those under 65 and not disabled, you will receive either 20% of the first $10,000 of property taxes paid (if your income is below $100,000), 10% of your total property taxes paid (if your income is between $100,000 and $150,000), or nothing.

• Tenant: If you were a tenant on October 1, 2007, file a Form TR-1040, tenant homestead rebate application, contained in the 2007 resident income tax return booklet. More information for tenants.

• Homeowner: If you were a homeowner on October 1, 2007, a 2007 homestead rebate application will be mailed to you. Homeowners do not file Form TR-1040, doing so will delay the payment of your homestead rebate. More information for homeowners.

If you were neither a homeowner nor a tenant on October 1, 2007, you are not eligible for a 2007 homestead rebate, even if you owned a home or rented a qualified dwelling for part of the year.

Go to: 2007 Homestead Rebate Program for more information.

Jul. 16, 2008 - Franklin Township "Best Place to Live"

CNN/Money ranks town #5 in the country

Franklin Township's location, availablity of nearby high tech jobs, open spaces, affordable home prices, historical significance and local schools accounts for the #5 spot of 100 Best Places to Live 2008.

It's high ranking comes to no surprise to me.  You can read why I love living right here in Franklin Township in my reply to "Charmqueen's" question posted on Trulia Voices. Read more about Franklin Township here

Yeaaaaa Franklin!

Jul. 14, 2008 - IndyMac, Freddy Mac and Fannie Mae

What does all of this mean?

Despite last week's failure of the IndymacBank, Federal Deposit Insurance Corp (FDIC) Chairman Sheila Bair said on Monday, "the overwhelming majority" of U.S. banks are "safe and sound." What this means to the general public is that savings only up to $100.000 is insured against bank failure per account.  It would be prudent to place any excess into an account with another bank or finanicial institution. There have been hints in the media that more banks might fail over the next three years, due to credit losses and tight capital markets.

Regarding Freddy and Fannie...Fannie Mae is short for Federal National Mortgage Association and Freddie Mac is short for Federal Home Loan Mortgage Corporation. Both are shareholder-owned companies mandated by the US Congress to provide funding to the U.S. housing market.  If they were to collapse, mortgages would be harder to get and much more expensive.  US Treasury Secretary Henry Paulson said the government's primary focus is in supporting Fannie Mae and Freddie Mac in their current form. 

Peter Kedzior , a Chicago REALTOR and fellow Blogger on ActiveRain, helps to put this all into perspective in his posting, Fannie and Freddy Scare.

Jul. 4, 2008 - Town Hall Meeting

Representative Rush Holt coming to Somerset

Franklin Township kicks off a series of 9 townhall meetings in central New Jersey, including two call in sessions with Congressman Rush Holt. This is an excellent opportunity to voice concerns to your local congressional representative.

Monday, July 7 from 7-8:30 p.m. – Franklin Township (Municipal Building Council Chambers, 475 De Mott Lane, Somerset)

Tuesday, July 8 from 7:30-8:30 p.m. - Telephone Town Hall (Dial 1-866-447-5149 and when prompted enter the pin 13864)

The complete schedule of meetings can be found on the congressman's website.  See you there!

Wishing you a Happy and Safe

July 4th Weekend

Jun. 21, 2008 - HUD to reach out to 675,000

Marketing FHA mortgages to the masses 

In a move to market the benefits of FHA mortgage loans to those with good credit and those homeowners who have already faced or are experiencing the first reset of their adjustable rate mortgages, 675,000 letters will hit mailboxes soon. For more information regarding the stimulus package signed earlier this year by President Bush click here.

Below is the text of HUD's letter:

Dear Homeowner,

Do you need help with your mortgage?

Your area is experiencing a disturbing home foreclosure rate that has accelerated in recent months.

News reports cite the damaging effects of “sub prime loans” as a major factor in the unsettled market. By focusing on education and safe mortgage alternatives, though, the Federal Housing Administration (FHA) of the United States Department of Housing and Urban Development (HUD) is working diligently to address this unacceptable foreclosure trend.

Over the past few months, FHA has worked with mortgage loan servicers to identify solutions for the crisis facing current homeowners. Your current mortgage does not have to be FHA insured for you to benefit from our help. If you are facing financial difficulties due to a recent or imminent mortgage reset, or other housing-related difficulty, I urge you to contact us at 1-800-CALL-FHA or to visit www.fha.gov. There you will have the opportunity to learn about foreclosure prevention, legal rights, and credit counseling, among other topics.

Many homeowners may also be able to take advantage of our recently announced FHASecure program. This new program allows eligible homeowners to refinance into a secure, fixed-rate FHA loan even if they are in default.

Additionally, a new partnership between mortgage companies and non-profit housing counselors called HOPE NOW is available to you. Their mission is simple: reach out to homeowners who may be having difficulty paying their mortgages. For more information or to see if your mortgage company is a member of this caring coalition please go to www.hopenow.com.

Again, please contact us at 1-800-CALL-FHA (800-225-5342) or go to www.fha.gov. As part of the federal government, the Federal Housing Administration wants to help you protect and preserve the American dream — your home.

Sincerely,

Brian D. Montgomery
Assistant Secretary for Housing -
Federal Housing Commissioner

Jun. 15, 2008 - Property flipping rule suspended

The White House suspends policy

A Bush administration foreclosure policy, put in place in 2003, deterring the flipping of real estate in less than 90 days is being temporarily suspended. The Bush administration’s revised policy is hoped to speed the housing recovery.

The Federal Housing Administration (FHA) suspension will last for one year; allowing real estate marketed and sold by property disposition firms on behalf of lenders to immediately resell a purchased foreclosed property.

Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up 48 percent from the same month last year and up 7 percent from April, foreclosure listing company RealtyTrac Inc. said Friday.

Read the entire article here.  

May. 29, 2008 - Local students advance to world finals

Three Sampson G. Smith teams compete 

For the fourth consecutive year, teams of students from Franklin Township’s Sampson G. Smith School will participate in the Odyssey of the Mind competiton World Finals, which will be held Saturday to Tuesday at the University of Maryland.  Odyssey of the Mind is an international educational program that provides creative, problem-solving opportunities for students from kindergarten through college.

The school had both a fifth-grade and sixth-grade team take first place in the balsa structure problem.  A sixth-grade team had the challenge of building a drivable vehicle using a non-lead battery, spending no more than $145. They used plywood, the handlebar from a broken scooter and wheels from a Tonka car. and ran it with 6-volt Alkaline batteries.

The sixth graders also built a structure that weighed in at under 18 grams, was less than 8 inches high and held 625 pounds. The team is currently holding more weight than any other team in the United States and has received the Ranatra Fusca award for using all recyclable material in their structure.

A schedule of events is available and you may watch the World Finals broadcast online. Learn more about this competition.

Congratulations to the kids of our Sampson G. Smith School.

Source: myCentralJersey.com

May. 20, 2008 - Don't forget to vote...again

NJ Primary on June 3rd

Didn't we just vote in New Jersey primaries last February?  Yes we did.  However, that was only for presidential candidates.  The primary for all other elected offices is June 3rd. New Jersey moved its presidential primary to Feb. 5 this year to try to give the state more say in choosing presidential candidates.  I guess that decision didn't make much of a difference.

U.S. Sen. Frank Lautenberg is being challenged by U.S. Rep. Rob Andrews and Morristown Mayor Donald Cresitello for the Democratic party's U.S. Senate nomination.  The Republicans candidates seeking the nomination are former U.S. Rep. Dick Zimmer, former gubernatorial candidate Murray Sabrin and state Sen. Joe Pennacchio.

It is too late to register for the June 3rd primary but not for November's general elections.  If already registered, you may choose to vote by absentee ballot.  You may apply in person or by an authorized messenger, if you're sick or confined, at the Somerville county clerk's office up to 3 p.m. Monday, June 2nd.  The absentee ballot must be received by the county Board of Elections by 8 p.m. on Tuesday, June 3rd.

For more information, visit http://www.njelections.org/index.html or call 609-292-3760.

Apr. 23, 2008 - Proposal submitted for Franklin Township new charter school

Apr. 15, 2008 - The Somerset Slim Down

Second year's challange underway

The free challenge is sponsored by Somerset Medical Center's Sports Performance and Rehabilitation Center, the Somerset Patriots, the Somerset County Board of Chosen Freeholders, Somerset County Park Commission, the Somerset County Business Partnership and the Mayor's Wellness Campaign.

Those who lose 10 pounds or more will be eligible to win a variety of prizes, including a spa getaway, courtesy of Somerset Medical Center's Sleep for Life, and an exercise bike valued at $500, sponsored by Reps Fitness Supply in Somerville.

Additional information about Somerset Slim Down and a complete list of weigh-in locations and upcoming events are available by visiting somersetmedicalcenter.com or calling (908) 203-6236.

Apr. 11, 2008 - School Board Elections

Elections to be held April 15th

Your sample ballot was mailed earlier this week with some errors concerning polling places.  New ballots are to be mailed by Saturday, April 12, 2008.  In the meanrtime, here is a link to the correct locations: http://www.franklintwpnj.org/polling-locations-school-election.html

Next year's budget was approved and calls for a tax rate increase of 3 cents per $100 of assessed value. That means school taxes will increase about $125 a year for the average township homeowner.  Board members unanimously approved the $136.4 million budget, which includes major increases in spending for staff training, special-education instruction and support services, energy costs, health benefits and charter school tuition.

A PowerPoint presentaion of the approved 2008-2009 budget is available online at: http://www.franklinboe.org/boardofed/budget_present_08.pdf

CIVILIAN ABSENTEE BALLOT APPLICATION INSTRUCTIONS                                            Print and complete the form below to apply for a Civilian Absentee Ballot.

Mail to:  Brett A. Radi, Clerk Of Somerset County, 20 Grove Street, P.O. Box 3000, Somerville NJ 08876-1262

Mail requests for an absentee ballot must be postmarked no later than seven (7) days prior to the election for which they are being requested. Registered voters may apply in person for an absentee ballot up until 3 p.m. the day before the election. For further information about absentee ballots, call the Somerset County Clerk's Office at (908) 231-7006. For information about voter registration, call the Somerset County Board of Elections at (908) 231-7084.

Mar. 22, 2008 - Private Mortgage Insurance short on money

PMI must raise cash

Private mortgage insurer PMI Group Inc. acknowledged it will need to raise "significant additional capital" in order to continue writing new business after posting a $1 billion net loss in the fourth quarter -- much of it through its ownership stake in troubled bond insurer FGIC Corp.  Although PMIs own mortgage insurance operations generated a $236 million net loss in the final quarter of 2007, it was the company's 42 percent stake in FGIC that put the biggest dent in the company's bottom line, accounting for $776.1 million of the net loss for the quarter. PMI's net loss for the full year was $915.3 million.

Source: Inman News

Mar. 19, 2008 - Somerset youth get to party, play and learn

Safe Night program scheduled for Friday, April 5th 

“2008 marks the ninth year that the county has been holding a ‘Safe Night’ program, which brings youth together to openly discuss important and relevant topics such as resolving conflicts peacefully, managing emotions and preventing violence in a fun-filled, safe environment,” said Freeholder Deputy Director Rick Fontana.

Somerset County's youth program is open to students in grades seven through 12.  The evening is planned by their peers and adults in a safe environment..  This year’s “Safe Night’ program is scheduled for Saturday, April 5, from 6 to 10 p.m. at Franklin Middle School, located at 415 Francis St., Somerset.  This year’s theme is “Mardi Gras,” and students are invited to wear a mask and beads.   The registration deadline is March 28, and seating is limited to the first 200 registrants.There is a $5.00 admission fee which includes refreshments and door prizes. 

For tickets and more information about the “Safe Night” program, call Sarah Murchison of the Somerset County Department of Human Services at 908-704-6307 or e-mail her at: murchis@co.somerset.nj.us.  Click here for a brochure and registration form.

Feb. 26, 2008 - Avoiding identity theft

Know how to fight back

The Federal Trade Commission (FTC), in conjunction with the National Association of Realtors (NAR), wants to help you to deter, detect and defend against identity theft.

Identity thieves can only take advantage of you give them information or they obtain information about you.  Each year, millions of Americans have their identity stolen. Get the information you need to protect yourself against identity theft. This video can help you to minimize the risk of becoming a victim and reduce the emotional stress that often comes with identity theft.