Increase Your Home's Value

There is probably nothing you can do cheaply to counter the market's devaluing of your home, however there are some inexpensive improvements you can do to make your house feel like a home and slow the devaluation.

First, it would be a good idea to readjust your mindset and accept that you will be in your home longer than the current average of 5 years. The improvements you are going to be making are for YOU, not with "the next owner".

Spring is a great time to start home projects, and the hardware stores generally have great deals going on for indoor and outdoor items. Before you head to the store take a few days and really evaluate your home, and your lifestyle. Begin to prioritze the most important rooms and their purposes. Then start to break down the tasks. Once you've done that you can put together a materials list and a contractor list (for the items that are above your "pay grade"). All that is left is the execution!

Naturally you are wondering how you are going to pay for this. I get it! Times are tough for a bunch of us. Considers starting with some less expensive items and save up for the larger purchases. By the end of the season you may have enough to move forward. If you are tackling some major projects you may want to consider a taking out a loan, or refinancing your home. YourCreditCompnay.com has you covered check out these great links!

Home Loans and Refinance

Personal Loans

Mortgage Modification

All the Best!

Matt Kemper

YourCreditCompany.com

Cheerleader Alert!

Next week Goldman Sachs will consider a stock sale that would put them in a position to repay the $10 billion in TARP funds given to them. 

Bloomberg.com reports that this action could put preasure on rivals of Goldman Sachs to follow suit. Companies that remain dependant on government funding will be restrained by the government's inolvment in the company's business practices. Thus, they would be at a competitive disadvantage. 

There are those that question wheather Goldman Sachs will be allowed to give the money back. Reportedly smaller banks have been denied the ability to return money given to them from TARP. The government (i.e. Treasury or the Office of the President) have offered that the claim is out right false or that they want to ensure that the banks are truely stable before repayment should be accepted. 

It seems like the stage is set for a dramatic Tax Week! Stress tests on the banks are also set to begin, and the government is asking that details of those stress tests are not to be released. The cries for transparency are already ringing in my ears.

Have a great weekend everyone!!

Matt Kemper

YourCreditCompany.com

To Refi or To Modify, That is the Question

In an article that appeared in Philliadelphia Business Today entitled "Housing Chief Says Refinancing Program is Working" the executive director of Mount Airy USA, which provides financial  counseling, stated the following:

"Truth is that there are so many programs out there now . . . most struggling homeowners don't know why they are calling us other than for help."

This is an amazing statement, but one that we can all relate to. Over the past several months I have spoken to many people that aren't sure what to do about their home mortgages, some are so confused they settle for doing nothing. 

Homeownership is a big responsibility. Up until now it just meant that we had to maintain a yard or fix a pipe now and then. Now there is another kind of maintenance that needs to be attended to, the financial health of the home.

The first, and easiest place to start is taking this quick, simple, 4 question test to see if you qualify for the "Making Homeownership Affordable Program". Take the test here.

Most people will not qualify for this program. So the next place to go for guidence is the U.S. Dept. of Housing and Urban Development. There are over 26,000 locations from coast to coast. Find an office in your area here. Seek the the help of qualified counselor and find out exaclty what kind of help you need. 

Making the correct desision is crucial when it comes to the single largest purchase of your life. I hope you will take the steps to make an educated desision. 

Matt Kemper

YourCreditCompany.com

G-20: What Got Done

All week the news has been dominated by the G-20 meeting in London, England. We were treated to videos of rioters breaking bank windows, lots of photo ops of the leaders of the prestigious countries, and the hope that some productive ideas on how countries with vastly different ideologies can work together to revive the economies of the world.

The Associated Press, in an article today entitled "Analysis: But Will it Work", reports that the International Monetary Fund will be receiving an additional $1.1 trillion to help struggling countries in Eastern Europe and Latin America. Fortunately for us contributing countries, the funds will be in the form of loans to the IMF, not debt spending. There were also agreements on the need for regulations on international companies whose business could have a potential to cause systemic trauma.

We have cause to be happy with our leadership. They stood up to French President Nicholas Sarkozy, and Greman President Angela Merkel when they called for a "world regulator" to control what they (and many others) see as unfetered capitalism by the United States. Causing the current world wide recession.

Our leaders did agree to more transparency and better working relationships with other world regulators. However, Sarkozy and Merkel's stances should stand as a wake up call. The United States needs to start digging her collective heals in the dirt and pushing back on the world stage. Our culture is uniquely ours, and we must be proud of our country, even when antaganists, both foreign and domestic, seek to shame us. If you need a reminder, The United States and her people are by far is the most generous with aid and funding to the world. I have not heard Frence, Germany, or even China announce they are contributing more. I would prefer to see more global encouragement and less calls for a global regulations that bind us, the voluntary world's police force.

Matt Kemper
YourCreditCompany.com

Clunker Program?

Source: Reuters

Lately it does not seem like there has been a whole lot of creativity coming out of the beltway. There has been a lot of "taking the easy way out" in regards to banking industries, automotive industries, and the like. However, today I saw some light, and it is presented in one of the worse named programs (give it time the the proposal is weeks away from seeing the floor of the House of Representatives) to date.

Reuters is reporting today that a tax incentive program is making it's way to the floor of the Senate and House of Representatives. The program is a tax incentive of up to $5,000 meant to encourage owners of older and inefficient automobiles to trade up to a new and high efficient vehicle. The program would cost approx. $2 billion, and would possibly coming out of remaining stimulus money (I'm biting my tongue on that).

I am strongly in favor of ideas like this one, which by the way similar ideas are in place in Europe. Instead of a bailout that arguably helps only a couple "groups" of people or jobs, this kind of creative plan helps many "groups" of people or jobs. Further, I encourage everyone to contact your state representative and encourage more creative problem solving and ideas like this to get us back on the road to prosperity.

Matt Kemper
YourCreditCompany.com

Bank Kudos!

Source: New York Times

Let's give a big cheer to the following banks for giving back the government money!

The New York Times is reporting that these banks are "being allowed" to repay monies given to them by TARP:

Signature Bank of New York- has paid back $120 million.
Old National Bankcorp of Indiana- has paid back $100 million.
Iberiabank of Louisiana- has paid back $90 million.
Bank of Marin of Navato, CA- has paid back $28 million.

Sun Bank of New Jersey announced this morning they are returning/paying off $89.3 million.

Folks, if you live in New York, Indiana, Louisiana, California, or New Jersey look these banks up and support them by opening a savings or checking account.

Matt Kemper
YourCreditCompany.com