Welcome!!

Welcome to my new blog page. I recently moved it from my previous server to provide better access. You can always find my older postings on my Activerain blog site at: http://activerain.com/blogs/christianpak.

Thank you.

FHA annual mortgage insurance premium to increase in April.

HUD announced today that it will increase the annual mortgage insurance premium by 0.25% on all 30 yr and 15 yr loans. The upfront MIP will remain unchanged at 1.0 percent. The new annual premium will be effective for all loans with case numbers on or after April 18, 2011. Below are examples and the impact of the change. The end result is an increase in overall payment for the borrower.

The full mortgagee letter pertaining to the increase can be found on HUD's website: FHA Mortgagee Letter 11-10.

Homestead Exemption and Property Tax info

Homestead Exemption and Property Tax help:

Following are very important homestead exemption and property valuation assessment dispute information.  I hope that the information I provide is useful. I am proving links to homestead exemption info per county. Most of Metro Atlanta counties are listed. Some web links may be broken due to county website updates. Please contact me and I will help you track down the proper websites and updated links.

What is homestead and what is needed to apply?

Homestead is a property tax reduction program, intended to keep taxes lower on owner-occupied homes.

In order to receive homestead exemption, you must present proof of ownership, complete a homestead application and provide the social security number of all owners. You must be listed as the owner on county tax records.

Who qualifies?

Those who own and occupy the property as their primary residence as of January 1 of the year for which application is made.

When should you apply?

You must apply by March 1 to receive credit on the current year tax bill. Applications received after March 1 will be processed for the following year.

 Are there any special homestead exemptions?

Yes, for blind, disabled or paraplegic veterans, senior citizens and some people in military service. If all owners do not occupy the property, a partial homestead exemption may be given.

How often must I file?

Once, unless a form is mailed to you by the Assessor. If you receive an application, it is important that you complete it and return it to the address on the form.

Where can I file?

You should receive an application in the mail by February 1. If you do not receive an application in the mail, contact your county tax commissioner’s office for an application and for any additional questions.

The property valuation assessment dispute starts first with the filing of a “Taxpayer’s Return of Real Property”. Obtain the form, write in your estimated “Fair Market Value” and mail it to your county's tax assessor’s office. Upon reviewing the submitted return, your county's tax assessor’s office will either agree or disagree with your “fair market value”. If they do not accept your stated value, they will issue a “Notice of Change of Assessment”. This notice will inform you of the valuation the county will use to calculate your tax for the current tax year. If you disagree with this value, you will then have the right to appeal. Instructions on how to appeal will be included with the notice. If they accept your valuation, the “Notice of Change of Assessment” will not be issued and taxes will be adjusted based on the fair market value you submitted. Below are the links to the “Taxpayer’s Return of Real Property” by county.

One tip in filling out the Property Tax Return is to search for your tax bill online with the county. The tax bill will contain your Map and parcel ID plus partial legal description of your property. Use this information to complete the Property Tax Return. You do not have to break down your estimated value by “land” and “improvements”. Simply fill out a total estimated value in the “total” section. Remember you must file by March 1. Make sure to mail the return via Certified Mail. Please contact me if you need additional information or clarification. Good luck!

Cobb County:
Property tax Info search: Cobb County Tax Bill Search
Homestead Exemption: Cobb County Homestead Exemption Forms
Real Property Return: Cobb County Real Property Return Forms

Cherokee County:
Property tax Info search: Cherokee County Tax Bill Search    
Homestead Exemption: Forms available at county tax commissioner’s office :
2780 Marietta Highway Canton 30114 : 678.493.6400
Real Property Return: Cherokee County Real Property Return Forms

Clayton County:
Property tax Info search: Clayton County Tax Bill Search   
Homestead: Clayton County Homestead Exemption Forms 
Real Property Return: Clayton County Real Property Return Forms   

Dekalb County:
Property tax Info search: Dekalb County Tax Bill Search   
Homestead: Dekalb County Homestead Exemption Forms 
Real Property Return: Dekalb County Real Property Return Forms     

Fulton County:
Property tax Info search: Fulton County Tax Bill Search   
Homestead: Fulton County Homestead Exemption Forms
Real Property Return: Fulton County Real Property Return Forms   

Forsyth County;
Property tax Info search: Forsyth County Tax Bill Search   
Homestead: Forsyth County Homestead Exemption Forms
Real Property Return: Forsyth County Real Property Return Forms

Gwinnett County;
Property tax Info search: Gwinnett County Tax Bill Search
Homestead: Gwinnett County Homestead Exemption Forms
Real Property Return: Gwinnett County Real Property Return Forms

Hall County;
Property tax Info search: Hall County Tax Bill Search
Homestead: Hall County Homestead Exemption Forms
Real Property Return: Forms available at county tax assessor’s office:
300 Henry Ward Way, Suite 203 Gainesville, GA 30501 : 770.531.6720

The 100/0 Principle : The Secret of Great Relationships

The 100/0 Principle

The Secret of Great Relationships

Brian Tracy once noted that, "80% of life's satisfaction comes from meaningful relationships." If you would like to have better relationships with your spouse, children, co-workers, and clientele, we encourage you to read on, and to adopt the 100/0 Principle.

What would happen if you took full responsibility for a relationship (the 100) and expected nothing in return (the 0)? As the above movie from Simple Truths tells us, "When you take authentic responsibility for a relationship, more often than not the other person quickly chooses to take responsibility as well."

Take a few moments and watch The 100/0 Principle from Simple Truths to learn more about how 100/0 relationships become 100/100 ones. And to see more inspirational movies, visit www.simpletruths.com.

Applying for a home loan after a foreclosure or short sale

With the current market conditions and the large number of home owners who are facing foreclosure or short sales, this question comes up often, "How long do I have to wait before I can qualify for a mortgage loan after I go through a foreclosure or a short sale?". Fannie Mae, who sets most conventional loan guidelines updated their waiting period guidelines this year. Below is a table showing the various derogatory credit event and the waiting period requirements: