Are you buying a newly constructed home in Florida? Have you heard horror stories about escrow accounts being shorted for property taxes? This is a big problem with most lenders that they have not fixed the tax loophole for escrow accounts. They also have a hard time fully disclosing what a true estimate of property taxes will be on your new home. It only takes a few moments to ensure this doesn’t happen to you.

It’s time to maximize your gather all your documents, maximize deductions, and get your hard earned money back from the government. Check your mail carefully over the next few weeks. You may have begun receiving important documents needed to file your returns promptly and accurately.

Keep an eye out for: W2’s, 1099’s, 1098 mortgage interest statements, bank or investment Interest statements, property tax, expense receipts, etc… There are many ways to file this year designed to make it fast easy and reducing the hassle of filing. Online filing may help you receive your returns in record time.

The keys to surviving the tax season are:
· Be organized
· Gather important documents
· Seek adviceDo not procrastinate

IRS E-File is available through the IRS website. If you meet the criteria you may avoid paying any fees associated with your Federal Tax Return. You may e-file if your adjusted gross income was $54,000 or less in 2007. Use Free File to prepare and e-file your taxes online. Receive your refund directly from the IRS in around 10 days, and for free. You may also file in Spanish. Visit the IRS’s website to learn the details. Got questions? Check out the IRS’s FAQ page.

IRS 1040 Paper Filing is always available through the IRS. It takes a little longer to receive your return but still works. You may download IRS tax forms if you want file the old fashion way. Free walk-in help is available from a real person. Visit the IRS’s online zip search to locate free help in person. Don’t forget to sign & date your return!

H&R Block if your adjusted gross income was over $54,000, have many deductions, or own a home H&R Blocks online software may make it easy. I would suggest using H&R blocks online software. It is easy to use and inexpensive check out H&R Block.

Changes to the tax code that may affect you!

Mortgage Insurance- There are new changes to the Mortgage insurance being deducted as mortgage interest. If you paid mortgage insurance premiums during 2007 you may be able to deduct the premiums as mortgage interest. Check the site to see if your mortgage insurance payments qualify.

Business standard mileage rate- If you used your car for business and were not reimbursed by your employer or were self employed you may deduct the standard mileage rate $.48 ½ per mile.

Social security and Medicare taxes- the maximum social security tax for 2007 was $97,500. There is no limit on the amount of wages subject to Medicare tax.

Earned Income Amount for Additional Child Tax Credit- 2007 the minimum earned income amount used to figure the additional child tax credit has increased to $11,750.

IRS’s Tips E-mail newsletters- The IRS will E-mail you over the next few months great tips on our taxes. It’s like having a tax consultant for free. The best part is it will remind you to file your taxes while giving your fun facts and money saving tips. I think this is a great way to learn without getting overwhelmed of the entire IRS’s website content. Subscribe today, I did. Here is the link to IRS tip 1.

Check out more articles on Brian M. Schoedel’s site! Owe taxes or want to reduce your bills? Do you want a free home loan review, and see if Brian can lower your bills through home finance. I have helped many people save hundreds per month. It’s fast, easy, and there’s no obligation to receive a free review. Apply online through my secure online pre-application, or call me directly.

Brian M. Schoedel Call Now! 239.298.1335

http://www.briansellsmortgages.com/

File your return or extension by April 15th!

Emergency Fed Rate Cut

January 22, 2008. The Federal Reserve lowers fed funds rate -.75%. Will the Federal Reserve save the economy? This move should help lower mortgage ARM rates, and help reduce help consumer rates. Hopefully the prime rate and treasuries are soon to follow to help reduce home equity lines and fixed rate home loans. Many lenders have lower fixed rates in reaction to the Fed’s recent rate drop. However many home owner’s may not qualify for the home loan to relieve them of their financial woes. Stay tuned for updates.

Contact Brian to discuss your home loan.

Brian M. Schoedel

239.298.1335

On-line Quick Quote Application

There are many factors that have driven up the rates of jumbo sized loans, and stated income higher. While conventional Fannie Mae backed and FHA backed home loan rates have enjoyed a recent rate reduction.

You may have recently read about the -.0.75% decrease in Fed Funds rate . You may have thought this is a great time to refinance. In many cases, rates have been steadily dropping over the past year. Home owner’s seeking to refinance their homes has been very happy at rate reduction over the past few months. Many homeowners under $417,000 loan amounts seeking to convert ARM loans into fixed are will be the only winners in this mortgage mayhem.

Loan amounts under Fannie Mae Limit $417,000 and other amounts in US Territories have been getting a great deal of low rates. It is even better for borrower’s that provide income, and asset information in conjunction with their loan applications. Remember you don’t have to have platinum credit to qualify if you can provide your income and tax documentation.

The losers in the current home loan credit crisis will be too groups including Jumbo loan sizes over $417,000, “stated documentation” and “subprime” borrowers with weak credit scores and credit histories. Many small business owners generally have hard to prove incomes due to write offs on taxes. They will be forced to take stated income documentation loans which generally have more restrictive guidelines and slightly higher interest rates (.25%-.50%) in exchange for not having to using their tax returns to prove income.

This segment of borrowers may not have had issues obtaining home loans in the past. Self employed “stated income” borrowers will have to focus on keeping their credit scores high and keeping adequate cash reserves to qualify for new home loans in order to obtain the best or close to published rates. Subprime or weak credit score borrowers will need to watch their finances and make an effort to clear up their credit. Free FICO® Credit Score Estimator

I suggest contacting at least 2 trusted loan officer’s and avoid websites that promise multiple quotes and will pulverize you with phone calls and E-mails from the lenders that “share” your information. The year of the mortgage broker or loan officer is coming back. The Broker or loan officer will work on your behalf to arrange a home loan for you. Think of them as your financial planner for your mortgage or home loans. Be smart & shop for a second opinion.

Attention Florida Home Owners! The Federal Reserve has reduced the Federal Funds Rate 75 basis points this past week. Many home owners may be able to take advantage of attractive fixed rates. Now is the time to find out how much you can save. A ten minute phone call could save your hundreds per month!

Is your ARM mortgage due to reset at a higher payment this year?
Are you interested in reducing your monthly payments and saving hundreds per month?
Do you want a lower interest rate that is fixed for the entire life of the loan (30 YR Fixed, 40 YR Fixed)?

Do you want a free quote and want to choose the options that are best for your situation? I will advise but allow my clients to make their own decisions. There is absolutely no pressure.

You choose when you want to move to the next step. I only work with home owners who want to make a difference in their financial situation. I will only complete loans that will benefit your financial situation. If you decide not to go through with a quote, that’s OK. Shop around and I will try to beat it. If I can’t I will tell you to get the best deal possible.

I have saved hundreds of clients thousands of dollars. I have helped thousands of people increase their net worth, reduce their payments, and better their credit. I only work with home owner’s who have the desire to save money, reduce their debt payments, and want a fixed rate home loan with no hassles.

My initial consultation is free, and includes a free credit report. All fees are wrapped into the refinance (except for appraisal). I will need 10 minutes of basic information such as: your credit, income, current loan information, and your goals.

You may call or E-mail to schedule a phone consultation or complete an initial secure bank application online. Your information is confidential and will not be shared. I will contact you by phone to review your home loan goals, and determine whether we want to work together.

I am very upfront, honest, and will close your loan when you want to close. I have a method for success. I do not rush closings. I want to make sure you understand your loan and the process. I handle all details and follow up with daily e-mails or phone calls. I want to ensure you know where you are in the process.

Loan Process (7-14 days)
1. Initial 10 minute phone consultation to gather information and goals (includes, home loan, income, credit, and work history).
2. Create options for your review. I will give three loan options and including interest rates. Approve and move forward or disapprove quotes, no obligation.
3. Schedule appraisal, order title, sign initial application, good faith estimate, and truth and lending documents. Submit to underwriting for speedy approval.
4. Review all mortgage pay offs, approval conditions, and final numbers before you give the OK to schedule the closing.
5. Schedule closing and sign final closing documents. (three day right of rescission in the state of Florida on all refinance transactions).
6. Follow up with your new loan, and contact you to make sure your satisfied with your new home loan.

www.briansellsmortgages.com

What if there was a free online service that allowed you to connect your home buyer prospects to new development websites, and e-mailed you when they request information? What if the development wanted to help you close your prospect helping and retain your commissions without fear of getting cut out of the deal?

Florida Real Estate Agents are realizing the power of Agent Shield’s new technology. In a slow paced market it is crucial to find new ways to market to your prospective home buyers. I feel that Agent Shield will substantially help Realtors connect with buyers. Agent Shield removes the barriers agents have had when trying to market new construction developments on-line.

Real Estate Agents sign up for a free account in 2 minutes or less. The Agent Shield account is similar to signing up for a free e-mail account.

Real Estate agents cut and paste their special code into their e-mail marketing, blogs, and website. These marketing campaigns allow agents to target more prospects allow their prospects to click through to the experience the developer’s website.

Realtors wouldn’t normally market the developer’s website in fear of losing their prospect.
Agent Shield fixes this problem and allows the prospect to click through and experience the entire website. when they request more information the agent’s contact information is reflected on the site for the prospect to contact.

The prospect can even fill out a request for more information which will be e-mailed to the referring agent to ensure they retain the sales lead. This will allow you to e-mail thousands and follow up with educated prospects that have taken the time to review the development’s website.

You have to experience this technology for yourself. I am sure you are skeptical, and have many questions. The best part is many of the top producing new construction salespeople have been using Agent Shield and it works. 100% free for Realtors to use and market. This online tool has helped many agents expand their online marketing campaigns to thousands, drive more leads to their e-mail inbox, and ultimately sell more homes.

What if Agent Shield helped you sell just one home this month? Take a minute to see the video and sign up for a free account.

Check out the video below:

Sign up for a FREE Agent Shield Realtor Account!
http://www.agentshield.com/

This information was sponsored by:
Brian M. Schoedel
Florida Mortgage Loan Officer
www.briansellsmortgages.com

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