Newsletter Jan

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					                                                          Inside This Issue
                                                          Rates at All Time Low                                                 1
                                                          Appraiser’s Notes                                                     2
                                                          Selling a Home                                                        2
                                                          Canton Street Mortgage’s Chili Cook-Off Contest                       3
At Canton Street Mortgage, personalized                   Homestead Exemption Information                                       4
service is the key to our success!
- Jan Wagner, President                                      Canton Street Mortgage Ranked a TOP 10
                                                                   Mortgage Broker in Georgia!
                                                                      Ranking by the Georgia Association of Mortgage Brokers.

We continue to see market volatility on                                                     equity for home improvements, your
a daily basis, but mortgage interest        $208.33 per month .                             kids’ college tuition, debt consolidation,
rates for conforming loans ($417,000        As a rule of thumb, if the cost of              or some other reason, now may be a
or below) are at levels most of us have     refinancing can be recouped in a 12-24          perfect time to consider refinancing.
never seen.                                 month period, acting now is probably a
                                            good decision. If the recoup time is            You may have heard that guidelines
If you or someone you know is in the        longer, give us a call so that we can           have become more restrictive. There is
market to buy or refinance a home, we       analyze your situation and plan a               some truth to this. Low doc loans and
would suggest calling Canton Street         course of action based on your goals.           more exotic programs are almost
Mortgage to discuss your particular                                                         nonexistent in the marketplace.
scenario. Although rates could drop a       If you still have an adjustable rate            However, money is still available for
little further, in our estimation many of   mortgage or interest only loan, now is a        those with good credit who can
our current mortgage clients could now      good time to seriously consider                 document their income and have
reduce their interest rate by 1%-1.5%.      refinancing into a fixed rate mortgage          sufficient equity to meet lender
To give some perspective, each              since no one can guarantee the future           requirements.
percentage point dropped reduces the        direction of rates. Chances are good
interest cost on a $100,000 balance by      that given current interest rates, you          Please let us know if you have
$1,000 per year. For example, let's say     could convert to a fixed rate loan at a         questions or feedback. Also, please
you have a $200,000 mortgage and            rate comparable to your present ARM.            keep Canton Street Mortgage in mind
can shave 1.25% off of your current                                                         for your friends, family and business
                                            Additionally, if you are in a position          associates' needs - we are always
interest rate.       Your savings would     where you have equity in your home
equate to $2,500 per year              or                                                   grateful for your referrals! We promise
                                            and foresee a need to access that               to work hard and make you proud that

                                              "When interest rates fall sharply, we tend to see more
                                              borrowers go for a simple rate-and-term 'refi' that
                                              lowers their payment or lets them keep their payment
                                              about the same but shorten the maturity of their
                                              mortgage obligation"

                                              -Frank Nothaft, Freddie Mac vice president and chief economist
     Appraiser’s Notes
     Valuing homes in today's market brings      of what your home is worth. When the
     about many challenges for appraisers.       appraiser comes out, give him or her
     As most everyone knows, the market          a list of recent improvements that you
     today is, for the most part, in decline.    have made to your home. If you are
     Property values appear to be                doing home improvement projects,
     decreasing due to an oversupply of          make sure they are complete before
     homes in the marketplace. This              the appraiser arrives. Try to make
     oversupply appears to be placing a          sure the improvements you do will         your neighborhood to appraise your
     downward pressure on home prices.           give you the most bang for your buck.     home. Always remember the market
     Foreclosures are also having a              Be careful not to over-improve for        dictates the value to the appraiser.
     negative effect on values.                  your neighborhood.
                                                                                           A special thanks to Tim Densmore,
      As a homeowner, it can help you in         The appraiser must use the most           Reliable Appraisal, for this contributing
     these times to know your marketplace        updated information regarding recent      article.
     and not have unrealistic expectations       home sales and days on market in

                                                     Five Ways to Pay Off Your Mortgage Loan Faster
                                                     1.   Refinance at a lower interest rate, but pay the same amount as
Thinking About                                            you were paying with your previous higher rate.

Despite what we hear from the media,                 2. Make one extra payment per year by adding 1/12 of your monthly
homes on the market are selling. If you are             payment amount to your monthly payments. Example: monthly
considering selling your home there are                 payment is $1k ; $1,000/12 = $83.33; pay $1,083.33/month.
some important tips that you should know.
                                                     3. Refinance to a lower term (15 yr or 20 yr) with a lower rate.
Working with the right Realtor can be key to
                                                     4. Increase your payments. If your financial situation allows, make
the success of selling your home. A Realtor
should be forthright and honest with you.               higher payments when you can, which will be applied to your
This includes performing walk throughs of               principle.
your home and addressing items that need             5. Pay bi-monthly which will add one extra payment per year.
attention, before it goes on the market.                Example: $1k monthly payment would be $500 bi-weekly. $500 x
Focus on the basics including curb appeal of
                                                        26 bi-weekly payments = $13,000/year vs. $12,000/year.
your home. First
impressions lead
to opening the
door for more
potential buyers.
The first thirty
                                                                            DID YOU KNOW…
days    on     the
market are the                                       Canton Street Mortgage’s Jan Wagner is 1 of
most critical.                                       only 12 Mortgage Brokers in the state of
                                                     Georgia that is CRMS® certified by the National
Setting the right list price and marketing of        Association of Mortgage Brokers (NAMB).
your house will expedite the sale of your
home. Again, the knowledge and experience
a Realtor has plays a key role in assisting          CRMS certification signifies a leader within the
you with setting the list price for your home.       industry who has mastered the knowledge of the principles and
A Realtor should use multiple channels to            practices of the mortgage profession.
market your house including presentation
Jan Wagner, Canton Street Mortgage President, Awarded Broker of the Year
By The Georgia Association of Mortgage Brokers
Each year, the Georgia Association of Mortgage           in the industry, and adhere to the GAMB Code of
Brokers recognizes a few of its outstanding              Ethics. This individual has the respect of both
members by presenting awards to the individuals          peers and customer base.           Canton Street
who best exemplify the finest standards and              Mortgage’s Jan Wagner was awarded Broker of
accomplishments.                                         the Year by the Georgia Association of Mortgage
The individual must show proficiency as a mortgage       Brokers (GAMB).
broker as demonstrated by their success in the           The award was presented at the GAMB Awards
mortgage brokerage industry through their                Luncheon on January 15th. Jan is truly
outstanding participation and profile within the         dedicated to her clients, employees, business
industry. They must have a broad breadth of scope        partners and the community. Please join us in
of product and experience, a high level of expertise                                                            Jan Wagner,
                                                         congratulating Jan.
                                                                                                             Broker of the Year

JD Crowe Joins the Canton Street Mortgage Team
Canton Street Mortgage is proud to           Committee (GMBPAC) board since 2005 and
welcome JD Crowe as our newest               has been very active in the GAMB Legislative
Mortgage Consultant.                         committee. J.D.’s involvement has aided
J.D. is a past president of                  these groups in making tremendous strides
the Georgia Association                      in strengthening relationships with state and      Roswell’s Alive After 5
of Mortgage Brokers                          national officials to ensure that Mortgage
(GAMB) and a member of                       Brokers’ and small business interests are           Thursday April 16th
the Board of Directors for                   considered before passing any new               Mark your calendars for Thursday
the Georgia Real Estate                      legislation or regulation.                      April 16th for the kick off of
Fraud Prevention and                         As a member of the GAMB, JD ranked as           Roswell’s Alive After 5 2009
Awareness Coalition (GREFPAC).          JD   one of the Top Gun individual and company       season!
served on the GAMB board of directors        producers every year, as well as, 2007
from 2003 through 2008, the Georgia          Broker of the Year.        He was recently
                                                                                             Canton Street Mortgage is hosting
Mortgage      Brokers     Political Action   awarded GAMB Volunteer of the Year 2008.        it’s first Chili Cook-off Contest
                                                                                             during the April Alive After 5.
                                                                                             Canton Street employees will
  A SPECIAL THANK YOU TO OUR TERRIFIC CLIENTS…                                               compete against each other for
         OUR SUCCESS IS BECAUSE OF YOU!!!                                                    bragging
                                                                                             rights (and
        Meet the Canton Street Mortgage Team                                                 trophy)
                              MORTGAGE CONSULTANTS                                           We welcome,
                          Jan Wagner, President                                              clients,
                                                                                             realtors and
                JD Crowe                    Lori Kirn                                        our vendors to join in the
                Sue Ann Guthman             Tweedie Griswold                                 competition. Please contact Jane
                Shachi Bhardwaj             Paige Seibert                                    at Canton Street Mortgage, 770-
                Shawn Stufflebeam           Marie Furmanski                                  643-7855, by April 3rd if you
                                                                                             would like to compete in the
                               LOAN PROCESSORS                                               contest. If you prefer tasting, stop
           Jessica Jackson        Cindy Sexton         Tara Robertson                        by to taste and vote for your
                                                                                             favorite chili!
                          Jane Sanderson, Marketing                                          While enjoying some Chili, kick
                                                                                             back and listen to our favorite
                           Tyler Wagner, Compliance
                                                                                             band, Stranger Than You.
 Canton Street Mortgage Corporation
 1116 Canton Street
 Roswell, GA 30075
 Phone: 770-643-7855

                          Jan Wagner, CRMS
                          President/Licensed Broker

             Ranked Top 10
        Mortgage Broker in Georgia
               2008 Atlanta Business Chronicle &
              Georgia Association of Mortgage Brokers

          Visit Us on the Web!

                Don’t forget about your TAX BILL and HOMESTEAD EXEMPTION!
                         Tax Bill Information                                                              Homestead Exemption
      Fulton County                                   Cobb County                          Fulton County                               Cobb County
       Mailed in July                               Mailed in August                      April 1st deadline                         April 1st deadline                                         
      404-730-6100                                   770-528-8600                          404-224-0102                               770-528-3100

                                                Gwinnett County                            Dekalb County                              Cherokee County
      Dekalb County                                                                       March 1st deadline                         April 1st deadline
       Mailed in July                            Mailed in July
                                                                                           404-298-4000                                678-493-6400
      taxcomissioner                            770-822-8800
      404-298-4000                                                                         Forsyth County                            Gwinnett County
                                                Cherokee County                           April 1st deadline                        March 1st deadline
       Forsyth County                          Mailed in October                              
     Mailed in September                          770-781-2110                              770-822-8800                              taxnet/
       770-781-2110                              678-493-6400

If you purchased a new home this year, it is possible that your bill will be forwarded
on to the pervious owner. If you do not get your tax bill on the above mentioned
date, we advise you to go online to obtain a copy of your bill. Once you have a copy
                                                                                           You will need a copy of your warranty deed, your driver’s license,
of your bill, send a copy to your lender and make certain it is paid on time!
                                                                                           your license plate number, and your social security number.
We advise you to forward a copy of your tax bill to your mortgage lender every year.       Most counties have a deadline of March 1st or April 1st to receive
                                                                                           credit for the current year.

          GA Residential License # 16204

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