Senator Blumenthal Supports Mortgage Interest Tax Deduction for CT Home Owners

Here is Senator Richard Blumenthal’s response to my request that he must Support the Mortgage Interest Tax Deduduction in the upcoming budget debates.

Dear Mr. Cignoli,
Thank you for your message regarding the mortgage interest deduction. I appreciate hearing from you.
I strongly support the mortgage interest deduction, which promotes homeownership by allowing income tax deductions of interest paid on a mortgage loan that finances a primary or secondary residence. I understand that several advocacy organizations and members of Congress have released proposals to eliminate or curtail this deduction as part of a broader reform of the tax code. To do so at this time would undermine our still fragile housing market and have a harmful impact on our economy. I will fight against any proposal that would harm Connecticut homeowners.
Thank you again for your message. I will be sure to keep your thoughts in mind on this important issue. Please feel free to contact me with any other questions or concerns.
Sincerely,
Richard Blumenthal
United States Senate

P.S. Call Me at 860.945.9284 to discuss your mortgage options and to take advantage of my FREE Mortgage Pre-Approval service.
With today’s attractive rates, and my direct relationships with trusted lenders who offer a wide range of affordable mortgage programs, you just might be able to move in to a new home with a minimal down payment and low closing costs.

Middlebury CT Homes for Sale – Eligible for 100% USDA Financing

Middlebury CT Homes for Sale – Eligible for 100% USDA Financing

These selected Middlebury CT Homes for Sale are Eligible for 100% USDA Financing with a USDA Guaranteed Rural Housing Development Loan.

The USDA Guaranteed Rural Housing Development Loan offers many benefits to qualified buyers:
•   Up to 100% Financing of the home’s Appraised Value – No Down Payment required
•   Ability to Finance Closing Costs when the Appraised Value is higher than the sales price
•   One 30 year fixed rate mortgage at low-interest rates
•   Low Monthly Mortgage Insurance increases buying power.    
     ◊   Beats FHA, CHFA and Conventional MI any day

First Home Buyers, Move-Up Buyers and Down-Sizers … You just might be Eligible for 100% USDA Financing with a USDA Guaranteed Rural Housing Development Loan and be able to own one of these Homes for Sale in Middlebury CT  with a minimal down payment and low to no closing costs at today’s low interest rates.

300 Lake Shore Drive           $179,000300 Lake Shore Dr
Unbelievable price for WATERFRONT in Middlebury! 3BR, 2BA Cape on .73 acre with lovely rear deck to enjoy views of Long Meadow Pond. http://www.realtor.com/realestateandhomes-detail/300-Lake-Shore-Dr_Middlebury_CT_06762_M36047-39401

Call Me @ 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE Mortgage Pre-Approval service.

P.S. Most single-family Middlebury CT Homes for Sale are Eligible for 100% USDA Financing with a USDA Guaranteed Rural Housing Development Loan. Condo too, as long as the HOA meets FNMA and FHA guidelines. The program has liberal income limits and DTI ratios that might enable buyers of other high-end homes to qualify for this program. Call me for details.

Killer Mystery “Out of Sight, Out of Murder” at The Clockwork Repertory Theatre, Oakville, CT

For those who enjoy murder mysteries, Out of Sight, Out of Murder,” with its combination of thrills, chills, murder and comedy is a hard combination to beat.

The Clockwork Repertory Theatre opens its 35th winter season with “Out of Sight, Out of Murder” on Saturday, January 17, 8:15 P.M. at the theater at 133 Main Street, Oakville, CT 06779.

The murder mystery by Fred Carmichael is directed by Susan P. Pantely.

mysteryPeter Knight is grinding out a murder story in an old mansion where another author was murdered years before. A weird electrical storm tears the fabric of time and imagination and Peter’s characters come to life.

There’s the lovely ingenue, the trusty butler, a feisty character woman, a dauntless hero, a fascinating “other woman,” the always pregnant serving girl, and the wily lawyer waiting for midnight to read the will.
Peter looses control of his characters and there is a murder; the intended victim is Peter. Other murders follow and the culprit is among characters who seem to know know a great deal about the subject.
Can Peter find the killer before the killer gets his author? Is romance with the ingenue leading anywhere? Where is the fortune mentioned in the will? All is solved ingeniously with romance, suspense and cosmic wit.

Other show dates for Out of Sight, Out of Murder,” at The Clockwork Repertory Theatre will be on Fridays and Saturdays, Jan 25 & 26; Feb. 1 & 2 and 8 & 9; with the finale on Sat. Feb. 16. Show time is 8:15 P.M. Tickets are $18.  Call the box office at 860.274.7247 for reservations and information

Real Estate Provisions in “Fiscal Cliff” Bill Benefits Housing!

The Cliff at Dieppe
Good News for Home Owners, Home Buyers and Sellers too!

Here is a summary of the Real Estate related issues included in the recent legislation to avert the “Fiscal Cliff.” 

•   The Home Mortgage-Interest Tax Deduction survived (for now).         
          ◊   This deduction could be back on the table once budget talks resume
          ◊   Real Estate Taxes continue to be deductible as well. 
•   Homeowners will be able to deduct their Private Mortgage Insurance (PMI) premiums on their income tax returns.
           ◊   This tax break expired in 2011. The new legislation extends the break through 2013 and makes it retroactive for 2012.  
•   The tax credit for Home-Energy Improvements (up to $500) was restored and retroactive to 2012.  
•   Congress preserved the $250,000/$500,000 Capital Gains Tax Exemption on home sales. 
•   Extended the 15-year straight-line cost recovery for Leasehold Improvements on commercial properties through 2013 and made retroactive to cover 2012.
•   The Mortgage Forgiveness Debt Relief Act was extended for one year.
          ◊   Homeowners who had part of their mortgage debt forgiven as a result of a foreclosure, short sale or mortgage modification won’t have to pay federal taxes on the forgiven portion of the debt.

Tax Advice Disclaimer: The information in this blog should not be used in any actual transaction without the advice and guidance of a professional Tax Adviser who is familiar with all the relevant facts.

Call Me @ 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE  Mortgage Pre-Approval service. We’re licensed in all 6 New England states; NY & FL too. I’m here to help.

Plymouth CT Homes for Sale – Eligible for 100% USDA Financing

Plymouth CT Homes for Sale – Eligible for 100% USDA Financing

These selected Homes for Sale in Plymouth CT are Eligible for 100% USDA Financing with a Guaranteed Rural Housing Development Loan.

The USDA Guaranteed Rural Housing Development Loan offers many benefits to qualified buyers:
•   Up to 100% Financing of the Home’s Appraised ValueNo Down Payment required
•   Ability to Finance the Closing Costs when the Appraised Value is higher than the sales price
•   One 30 year fixed rate mortgage at today’s low-interest rates
•   Low Monthly Mortgage Insurance beats FHA and increases buying power.

Call Me @ 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE Mortgage Pre-Approval service.

With a USDA Guaranteed Rural Housing Development Loan you just might be able to move in to a new home in Plymouth CT with a minimal down payment and low to no closing costs.
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13 Lake Plymouth Blvd              $209,900
Immaculate and well-appointed remodeled home. Magnificent views of the lake from the wrap-around decking. Upper level has LR with stone fireplace, HW floors and atrium doors to the13 Lake Plymouth Blvd wrap around deck with panoramic lake views and incredible sunsets.
In-Law retreat features separate entrance, its own eat-in kitchen & FR that leads to stone patio and hot tub. 2 car garage.  
http://www.realtor.com/realestateandhomes-detail/13-Lake-Plymouth-Blvd_Plymouth_CT_06782_M31379-43270?ex=CT545163397 

289 South Street                        $224,000
A Bright and Open Floor plan highlights this young home. Great Lake views from large rear289 South St deck. 3 BR, 2B. Membership to Lake Plymouth includes beach & water access. http://www.realtor.com/realestateandhomes-detail/289-South-St_Plymouth_CT_06782_M31374-21547

42 Blakeman Rd                            $249,900
Privacy at its best! Charming Ranch on 7.6 Acre lot surrounded by beautiful perennia42 Blakeman Plymouthl gardens. Features Open Floor Plan w/Hardwood Floors. Expansive Granite Kitchen opens to  DR & LR w/Coal Stove, MBR Suite w/Hot Tub. Finished basement with Free Standing Propane FP. http://www.realtor.com/realestateandhomes-detail/42-Blakeman-Rd_Plymouth_CT_06782_M35535-87997

P.S. Most single-family Homes for Sale in Plymouth CT are eligible for the USDA Guaranteed Rural Housing Development Loan program. Condo too, as long as the HOA meets FNMA and FHA guidelines. The program has liberal income limits and DTI ratios that might enable buyers of other high-end homes to qualify for this program. Call me for details.

Who Do You Trust? What the S.A.F.E. Act Means to You.

As an independent mortgage loan originator (MLO), I am compelled by law to submit to extensive education, testing and background checks to ensure my suitability to take a mortgage application and to offer advice to potential borrowers on their mortgage needs.

The S.A.F.E. (Secure and Fair Enforcement) for Mortgage Licensing Act is designed to enhance consumer protection and reduce fraud by regulating the credentials of those who originate mortgage loans. The law requires every mortgage loan originator (MLO) whether they work at a federally insured or state-chartered depository institution (bank) or credit union or a non-supervised depository institution (non-bank) to be registered in the Nationwide Mortgage Licensing System Registry (NMLSR). All non-bank MLOs, like Me, must also be state licensed.

Each registered MLO receives a unique ID number. This NMLSR ID makes it easier for NMLSconsumers to find information on their MLOs. The State of Connecticut has implemented a MLO licensing process that meets these NMLSR standards. My NMLS# is 76681 and you can check me out at   http://www.nmlsconsumeraccess.org/EntityDetails.aspx/INDIVIDUAL/76681 

In 2010, I passed the grueling S.A.F.E. MLO Exam which included a national component and a state-specific section. It covered the topics of mortgage law, product knowledge, MLO activities and ethics. I was finger printed and then, and every year since then, I have been  subjected to criminal background checks, had my credit report pulled to ensure that I am a financially responsible person; and have taken 8 hours of continuing education. 

So What Is My Point?
The SAFE Act created a nationwide licensing database that established federal regulations by which all MLOs would be required to act in the best interests of the consumer. Interestingly –only non-bank MLOs have to pass the NMLS test and be statelicensed. Bank MLOs have to be registered with the NMLSR. They don’t have to be licensed. S.A.F.E. simply registers the bank employee but does not insure they are trained or tested. 

So Who Do You Trust?  The S.A.F.E. Act does not protect all consumers as it does not apply to all MLOs. I believe that all consumers should be protected and should conduct business with a fully-licensed, qualified Mortgage Loan Originator. This might sound self-serving, but I am exasperated by the number of times I have been called on to bail-out a First Home Buyer because of the misinformation they got from their local bank’s MLO. 

Don’t get me wrong, there are a lot of good Bank MLOs and I appreciate the opportunity to help when others drop the ball…but how many buyers out there are obligating themselves to the conditions of a loan they don’t understand. Let’s level the playing field. If our industry wants to guarantee to all consumers that the LO they meet has been tested by the high standard of the law… the only way to get there is to require the testing and licensing of all LO’s, not just non-bank ones. 

I am committed to helping your family live comfortably and financially secure in your own home with the Right Mortgage at the Right Rate. Understanding your needs with a focus on honest answers to your concerns has earned me the reputation as a mortgage advisor you can trust. 

Tell me what you think…Then Give Me a Call at 860.945.9284 to discuss your Mortgage Options and to take advantage of my FREE  Mortgage Pre-Approval service. We’re licensed in all 5 New England states, NY and FL too.
I’m here to help.

Happy New Year

Happy New yearI wish you Health… So you may enjoy each day in comfort.
I wish you the Love of friends and family…And Peace within your heart.
I wish you the Beauty of nature…That you may enjoy the work of God.
I wish you Wisdom to choose priorities…For those things that really matter in life.
I wish you Generosity so you may share…All good things that come to you.
I wish you Happiness and Joy…And Blessings for the New Year.
I wish you the best of everything…That you so well deserve.

Happy New Year My Friend!

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If a New Home is one of your New Year’s Resolutions, Give Me a Call at 860.945.9284 to discuss your Mortgage  Options and to take advantage of my FREE  Mortgage Pre-Approval service.