Kaveh Sartipi Certified Mortgage Planner Mason−McDuffie Mortgage Phone: 925.242.4446 Fax: 866.374.8115 KSartipi@Sartipi.com http://www.Sartipi.com Expect Tax Refund Delays Know the Codes for Big Savings In late December 2007, Congress decided to freeze the Each year, more and more people turn to the Internet to expansion of the Alternative Minimum Tax (AMT), an do their holiday shopping, and last year was no different. outdated tax law from 1969. While this was great news for According to Forrester Research, US online retail sales some 25 million tax payers, the late date of this over the holiday season alone grew 11% over the congressional action will reportedly create major delays in previous year, for a total of $33 billion. the processing of tax returns and, more importantly, refund checks. This year, if you're planning to shop online and add to these incredible figures, do not buy anything without first As you might expect, the IRS had already prepared its tax checking out RetailMeNot.com, a great website that offers packages and computer programs to reflect the 2007 tax coupons and promotional codes that could save you big year by the time Congress made its decision. Because of on the things you were already going to buy. The site this, the IRS has said that it cannot process certain offers more than 50,000 codes and coupons at any one AMT−related tax forms until February 11, 2008, which time, so there's a good chance they can save you money could result in an estimated 13.5 million refund delays. on whatever you need. Also, be sure to check The forms are: out Current−Codes.com and CouponMountain.com, · 8863, Education Credits similar sites also recommended by Kiplinger's Personal Finance magazine. · 5695, Residential Energy Credits · 1040A's Schedule 2: Child & Dependent Care Expenses Clean Up Your Credit or Forget It · 8396, Mortgage Interest Credit Just when home prices and interest rates are really · 8859, District of Columbia First−Time Homebuyer Credit starting to look attractive, Fannie Mae and Freddie Mac announced increased delivery fees and new Loan−Level If you need advice on how to proceed with your 2007 tax Price Adjustments, making credit much more expensive returns, give us a call. We'll make sure you get the for potential homebuyers and homeowners looking to assistance you need to reach all of your financial goals refinance. These increased fees are mandatory and have and needs. nothing to do with your mortgage professional. They are simply Fannie and Freddie's way of recouping losses Frequent “Liar” Programs associated with the recent rise in delinquencies and On December 31, 2007, United Airlines' Mileage Plus foreclosures. Under Loan−Level Price Adjustments, program slashed its mileage−expiration policy from 3 additional costs are assessed to mortgages based solely years to just 18 months, continuing the recent trend begun on FICO credit score ranges that fall below 680. In the by other major airlines, such as American Airlines and mortgage industry, this is called risk−based pricing, and it Delta. This means that going forward your miles will expire can really add substantial costs to a mortgage if borrowers after only 18 months of inactivity. To make matters worse, aren't credit ready. this change is retroactive. This means that your miles may have already expired and you don't even know it! If you or someone you know intends to take advantage of the low home prices and the lowest mortgage interest If you're looking for ways to keep your frequent flyer rates in years, please call us right away. We'll get you a account active without actually having to fly anywhere, copy of your credit score and see what, if anything, needs there are several easy ways customers can do this, to be done. Sometimes small changes to your credit according to United Airlines: profile can yield big results that could save thousands of · Use or sign−up for a Mileage Plus Visa credit or debit card. dollars on your mortgage. Other times, professional credit repair may be required, and this process could take up to · Purchase products or services from travel and retail partners. six months to reach the scores you need. If you'd like · Use miles for merchandise, hotel stays, and dining. more information about these new fees or a free copy of · Transfer miles to another Mileage Plus member. our informative Consumer Credit Scoring Booklet, just · Donate miles to the Mileage Plus Charity Miles program. give us a call.