Tag Archives: mortgage Knoxville

Do Quotient by Terry Adams

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Do Quotient by Terry Adams

Terry Adams

Do Quotient by Terry Adams

The Housing Hour is honored to have Terry Adams and Phillis Burnett of  Adams Law Firm and Admiral Title as our show  sponsor but we are extremely  proud to announce Terry’s recent article in Cityview Magazine and soon to be new book: Do Quotient.

“Today is a big day for us. After more than 7 years of research we have officially announced the Do Quotient to the world in this months Cityview magazine. There will be much more to come, including a book this year of the same title. We believe that this added value approach to counseling clients is the future of practicing law & will provide a framework for success in business & life.”  Terry Adams

Listen to our interview with Terry as he talks about his career, interests and Do Quotient!

Solar Power had record year!

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aries

Over 3.3 gigawatts of solar power were installed last year!

Check our interview with ARiES Energy’s  Harvey Abouelata President/CEO:

Solar Power had record year with over 3.3 gigawatts of solar power  installed last year, according to a report Thursday from the Solar Energy Industries Association, a trade group. That’s enough to power about 500,000 homes, and it was a 76% increase from 2011.

The industry credited the jump to the declining price of solar panels, stable tax incentives and better financing options.

“We’ve brought more new solar online in 2012 than in the three prior years combined,” SEIA head Rhone Resch said in a statement. “And every one of these panels was bolted down by a member of the U.S. workforce.”

The industry estimates it now employs 119,000 people in the United States — a 13% jump over last year. It’s expecting another record year for solar installations in 2013.

Related: SolarCity CEO talks the future of solar power

The price of solar panels has declined 60% since the beginning of 2011, according to SEIA. Lower prices for silicon — a main ingredient in the panels — and massive investments in manufacturing capacity, especially by the Chinese, have helped push down prices.

These price declines have squeezed profit margins for solar panel makers. Several have filed for bankruptcy over the past couple of years, including Solyndra, Abound, Evergreen and Q-Cells.

Analysts expect more bankruptcies in the years ahead, as prices continue to fall and smaller, less efficient companies get pushed out. The situation is sometimes compared to the dawn of the auto age, when there used to be dozens of carmakers before consolidation led to just the Big Three.

But falling prices are clearly a boon for consumers and companies that specialize in the sales and instillation of solar panels, such as Solar City (SCTY), Sunrun and a host of others.

While solar power still represents a small fraction of the nation’s overall electricity generation — under 1% in 2012, according to the engineering and consulting firm Black & Veatch, it’s expected to grow substantially over the next couple of decades.

The cost of solar power is competitive with other energy sources in some U.S. markets, such as California and New Jersey, where subsidies are generous and the price of electricity is high. But if you exclude the big subsides and mandates the industry enjoys, the U.S. Energy Information Administration says the cost for new solar electricity nationwide is still more than twice that of the nation’s cheapest power source — CNN

Boomerang Buyers….eh, what?

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Boomerang The housing bust of 2007 has caused one big mess in our country but during this crisis, maybe as a way to help  understand or explain it, media outlets and others have created  new terms to describe market conditions.  Terms like, Zombie foreclosures, Zombie subdivisions, robo-signers, and now the Wall Street Journal has started a new category: Boomerang Buyers.

Boomerang Buyers are former home owners who lost their home during the housing crisis but now are possibly eligible to re-enter the home buying market. Estimates range around 800,000 buyers are now eligible for FHA financing. This number is up from approximately 285,000 in 2011 and is estimated to raise to 1.5 million in 2014.

So exactly what is required of the Boomerang buyer  to be eligible for mortgage financing after a foreclosure?

The answer depends on the type of mortgage you’re applying for along with many other important factors(like credit and credit scores to name only two) but one of the 1st requirements are time frames. Conforming loan requirements like FNMA/FreddieMac require a combination of a certain number of years and specific percentage down payment. Government loans vary too, VA minimum requirement is 2 years while FHA is 3 years. But time frames and down payment requirements are only the start. There are many other factors that must be considered and its important to note there are always exceptions to these rules.

Here’s the bottom line, if you were financially effected during the housing crisis, you still may be eligible for home financing. The best way to find out is to contact one of our MIG Loan officers and start the discussion and the qualification process.

Who knows, you may be a potential boomerang buyer and didn’t even know it!

Air Date 3-9-13: Home Ownership Matters: The Why!

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We Continue with our Home Ownership Matters Series!

 Dr. Kim Manturuk is the Senior Research Associate in Financial Services at the Center for Community Capital, a research institute at the University of North Carolina at Chapel Hill.

Home ownership matters and Dr. Manturuk research focuses on  the social and financial impacts of home-ownership in urban neighborhoods.  Her recent research has appeared in Socio-Economics, Social Service Review, Social Science Research, and the Journal of Urban Affairs.  She received her PhD in sociology from the University of North Carolina in Chapel Hill.

Our topics include :

  • Social Benefits Home Ownership vs Renting
  • Civil Engagement because of Home Ownership
  • Mental Health Benefit of Home Ownership!

Dr. Manturuk’s research and testimony  has been called in front of the House of Representatives as a source for future policy making for our nations housing crisis. Also, most national housing agency, like Fannie Mae/Freddie Mac use her research to help craft agency goals. The National Realtor Association use her research as well!

Everyone quotes her….The Housing Hour has her…this Saturday!

Plus her research can also be found in the latest book click on photo to order yours today!

Kim photo

home ownership matters

Spring into Action and Prepare

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Mortgage Investors GroupWhen preparing to buy a home there are many things to consider.  Most of the time, compiling documentation for your lender is not at the top of the list.  This could be a very important step to the overall success of your home-buying experience.

Please read on.

If you haven’t done so already – please begin compiling documentation we’re going to need once you’ve found your dream home. For a specific list of what we will contact one of our loan officers today!

Partial List of Starter Documents:

  • Copies of last two years tax returns and W-2′s
  • Copies of two most recent paycheck stubs (or easy, quick access to future pay stubs)
  • Copies of bank and brokerage statements for the last two months

Why Bother Digging Up Documents Now – I Haven’t Even Found My Home Yet?
Because, in the mortgage business Time Equals Money. I’ll explain what I mean below.

What Does It Mean To “Lock” Your Loan?

When it’s officially “go time”, you are going to “lock” your loan program with the lender. In turn, the lender is setting aside the funds allocated to your home mortgage. Lenders take these “loan locks” very seriously – as it helps us manage supply and demand.

Generally speaking – the shorter a time period you lock up a lender’s funds, the more preferential the pricing that lender will offer in return. This is huge.

What Do I Mean By the Statement Above?
Typically lenders offer “lock periods” of 30, 60 or sometimes even 90 days. By locking your loan, you benefit from knowing that if mortgage rates rise in the future, your terms will remain unchanged by the lender. As a result of this commitment the lender makes to you, they provide financial incentive for you to choose a shorter lock period than a long lock period. Does this make sense so far? If you are interested in learning more about how Time Equals Money in the mortgage business, contact us today!

So, Is My Ultimate Point In All This?

It is difficult to know if it is going to be prudent to choose a short, medium or long “lock period”. However, if we ultimately determine that a short lock period is best for your situation – it will be critical that we don’t lose even a single day while the clock is running.

By getting your mortgage ducks in a row now, we will be in optimal shape for a smooth and cost-saving mortgage process later.

While some lenders take 60-90 to close your loan, MIG will get it done on your schedule and close on time, every time.

The Housing Hour 07.14.12 (Saturday’s 2p-3p, 100.3 WNOX)

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Our guest today was Doug Lawyer, Vice President of Economic Development  with the Knoxville Chamber of Commerce. Doug will be discussing Innovation Valley, a regional economic development initiative centered on a 25-mile Technology Corridor with world-class resources in science, technology, and business.
Our Good Will section features Legacy Parks Foundation— Chad Youngblood joins our show to talk about how the organization works to assure that our community enjoys exceptional recreational opportunities, natural beauty and open spaces, and that those assets exist for generations to come. Also check out their newest website for all the parks and trails! Outdoor Knoxville!!

The Housing Hour 6.30.12 — MIG HEROES

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The Housing Hour 6.30.12 Special MIG HEROES by The Housing Hour

The Housing Hour -Aired 6/23/2012

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Our Guests:

Special guest Terry Adams , Adams Law Firm and Admiral Title, joins The Housing Hour. We will discuss legal issue that effect housing and related industries. Also, Terry talks about his contract negotiating  services for Athletes and Entertainers. Terry has offices in Knoxville and Nashville.

The second segment we will be talking to Bavy Lopez,Assistant General Agent, Capital Financial Group, LLC regarding investment strategies and insurances. Bavy discusses his’3 ‘flavors’ of advisers and describes :Financial Junk Drawers-Paralysis by Analysis-Blood is Thicker than Water.

Our last segment will be be highlighting Clayton Center for the Arts, “Music in the Air” Festival coming up at the Ronald And Lynda Nutt Theatre, June 29th-July1st. Executive Director, Robert Hutchens talks about The Center and its diversified out reach programs.

The Housing Hour -Aired 6/16/2012

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We continue our series on Energy Efficiency in Homes:

Our Guest:

David Lee – Residential Supervisor for U.S. Department of Energy’s Energy Efficiency and Renewable Energy Building Technologies Program

Important Website:

Home Energy Assessments – TV

Success Stories!

Mr. Lee oversees several programs including Building America and the Better Buildings grantees. David was formerly at the Environmental Protection Agency (EPA), serving as Director for the Residential Branch, overseeing the ENERGY STAR New and Existing Homes Program. Prior to this, David was the branch chief responsible for the regulatory program to phase out the use of ozone depleting chemicals at EPA. Over his career, he has worked in several policy offices within EPA, DOE, and the Department of Health and Human Service.

Today Mr. Lee continues our conversation regarding research and implementation of Energy Efficiency science in existing and new home conctruction.

Be sure to listen to our other interviews on this topic: Energy Efficency in Homes.

Our last segment features KARM-Knoxville Area Rescue Ministries. Angie Hatcher Sledge, our Vice President of Development joins our show to talk about the ministry and their biggest  fund raiser of the year – Dragon Boats on June 23rd!

The Housing Hour – Aired 5/19/2012

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Mansour Hasan,  of State Farm Insurance,  talks  about property Insurance and what you need to know about liability coverage. From insuring  jewelry to rental property, Mansour  walks us through the intricacies of  homeowners insurance.

We will also have guru web designer Kevin Thomas with us to explain the importance of thoughtful web design.  Kevin explains the main purpose of a website and how to attract maximum number of customers by search engine optimization.  Kevin is the webmaster of The Housing Hour.

Our last segment we will have  Lynn K. Petr from Shangri-La Therapeutic Academy of Riding (STAR). Lynn joins our program  to talk about how she first got the idea to start Star and how its grown to its present size.