mortgage loan advice

RP Funding Featured at WBDOs 41st Annual Fall Fiesta in the Park

Orlando, Fla. (PRWEB) November 04, 2011

Robert Palmer, President of RP Funding, Orlandos No Fee Direct Mortgage Lender, is taking his message of saving thousands directly to the people. This weekend he is a featured guest during WDBOs 41st annual Fall Fiesta.

The event will take place at Lake Eola Park in Downtown Orlando this Saturday and Sunday from 10:00 a.m. 5:00 p.m.

On Saturday, November 5th Palmer will be on stage at 1:30 p.m. answering consumer questions about loans, credit, interest rates, insurance and more.

On Sunday, November 6th Palmer will be broadcasting his radio show, Saving Thousands! With Robert Palmer from the event at Lake Eola. Guests can participate in the show by asking questions or getting Roberts expert advice. The show airs live at 11:00 am and Palmer will be on stage at 12:30 pm answering questions from the crowd.

Throughout the weekend, RP Funding will have an informational booth. Im thrilled to be a part of this weekend. We know that times are tough and people have lots of questions about how to save money and avoid excessive fees when it comes to financial services, said Palmer. Its always fun doing the show on location and spending the weekend talking to people and answering their questions.

RP Funding is a Central Florida based direct lender that prides itself on saving people thousands on their mortgage with an easy on time process, no lender fees and the guaranteed lowest rates.

Palmer is so passionate about helping people avoid excessive fees he has expanded his message to deliver up-to-date consumer tips on a weekly radio show called, Saving Thousands! with Robert Palmer. The show airs on FM 96.5/AM 580 WDBO every Sunday at 11 a.m.

Not paying fees on mortgages is just one of the thousands of ways people can save money, said Palmer. Shopping around and being a smart consumer can save you thousands on everything from banking to credit cards to insurance, and its my goal to show people exactly how it works.

For more money saving tip, visit the Saving Thousands with Robert Palmer blog. For more information on RP Funding visit the RP Funding website.

You can learn more about WBDOs 41st annual Fall Fiesta in the Park on their website.

About RP Funding: RP Funding is a licensed Florida Mortgage Lender with offices in Maitland, Florida. As a direct lender, RP Funding underwrites, closes and funds its own loans in order to offer customers the best rates and highest level of service. Unlike banks and mortgage brokers, RP Funding offers wholesale mortgage rates directly to consumers to save them money. The only fee that RP Funding customers pay is when they choose to buy down to a lower interest rate through a rate discount cost. For more information, please visit http://www.rpfunding.com/.

###

HSH.com Weekly Mortgage Rate Radar: 2012 Kicks Off With Low Rates, More Fed Guidance

Foster City, CA (PRWEB) January 04, 2012

Rates on the most popular types of mortgages increased slightly, according to HSH.com’s Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages rose by a single basis point (0.01 percent) to 4.07 percent. Conforming 5/1 hybrid ARM rates increased by 2 basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.02 percent.

“There’s often little movement in rates during the holidays,” said Keith Gumbinger, vice president of HSH.com. “Markets will start to return to normal levels of activity over the next couple of days, and that should set the tone as we move deeper into January.”

The Federal Reserve announced on Tuesday the intention to begin providing quarterly projections of the likely direction of future interest rates. “This important change to the Fed’s communication strategy will help to provide a better sense of when interest rates can be expected to begin rising,” said Gumbinger. “The Feds current timeline is to consider raising rates starting in mid-2013, but rates may not rise until possibly even later than that.

However, Gumbinger noted that mortgage borrowers should not rely on projections of the federal funds rate to set expectations about mortgage rates. For this year at least, short-term rates should remain at or near record lows, but fixed mortgage rates don’t follow short-term rates very closely, he said. Mortgage rate projections for the coming year can be found at HSH.coms expectations for mortgage rates and housing markets for 2012, which was also released Tuesday.

Average mortgage rates and points for conforming residential mortgages for the week ending January 3 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

����Average rate: four.07 percent
����Average points: 0.25

Conforming 5/1 ARM

����Average rate: 3.02 percent
����Average points: 0.21

Average mortgage rates and points for conforming residential mortgages for the previous week ending December 27 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

����Average rate: four.06 percent
����Average points: 0.27

Conforming 5/1 ARM

����Average rate: 3.00 percent
����Average points: 0.23

Methodology

The Weekly Mortgage Rate Radar reports the average rates plus points available about conforming 30-year fixed-rate mortgages plus conforming 5/1 ARMs. The weekly mortgage rate study covers a big test of mortgage creditors plus is performed over a Wednesday-to-Tuesday cycle, with information introduced each Wednesday. HSH.coms study assists customers discover the greatest rates about house financing inside changing marketplace conditions. Unlike mortgage rate reports which report average rates just, the Weekly Mortgage Rate Radars inclusion of both average rates plus average points delivers a more exact view of mortgage terms currently provided by creditors.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

About HSH.com

HSH.com is a trusted source of mortgage information, styles, information plus analysis. Because 1979, HSHs marketplace analysis plus commentary has aided homeowners, customers plus sellers create smart financial options plus save cash about mortgage plus house equity goods. HSH.com, of Pompton Plains, N.J., is owned plus operated by QuinStreet, Inc. (NASDAQ: QNST), among the biggest Internet advertising plus media businesses inside the planet. QuinStreet is committed with providing customers plus companies with all the info they require with analysis, discover plus choose the items, services plus brands which meet their demands. The business is a leader inside visitor-friendly advertising practices. For more info, please see QuinStreet.com.

Press Contact

Andrew Heilman

775-784-3842

pr(at)hsh(dot)com

###

Real Estate Financing : What Is Refinancing a Home?

To refinance a home, visit a mortgage broker, provide information on income and credit scores, ask for a quote, and make sure the closing costs are reasonable. Refinance a home if your economic situation changes in order to save money with advice from a mortgage specialist in this free video on home financing.Expert: Stetson Lowe Contact: stetsonlowe.typepad.com Bio: Stetson Lowe is a credit repair expert. Known as the “mortgage insider,” Lowe assists increasing credit scores for the most challenging of clients. Filmmaker: Paul Kersey

Can anyone give me advice on a 2/28 mortgage loan?

Question by Machelle: Can anybody provide me information about a 2/28 mortgage loan?
I have a section 7 bankruptcy discharged 2 years ago. My spouse plus i both have superior jobs, (he a school instructor plus me inside insurance). We are wanting with buy the house as well as the just choice you are getting is this 2/28. naturally the loan officer is advising you this is fine with refinance inside 2 years.. Has anybody had an experience with this. We are kinda freaked out plus don’t like to receive overwhelmed financially again

Best answer:

Answer by fluorescentsurfer
refinancing inside 2 years will REALLY suck…

Interest rates is going up inside the coming years plus we may set oneself up for another round of bankruptcy

Know better? Leave your own answer in the comments!

Latest Home Equity Loans News

The Ins and Outs of Home Equity Loans
A house equity loan iѕ secured bу the equity уоu hаve inside yоur house. Equity iѕ thе difference betwееn how much уour house is value plus hоw muсh we have about thе mortgage. Lenders maу provide аѕ much аs 75% with 90% of equity аѕ а loan amount. …
Read more on ClimbTheNet

How to go about acquiring an ownership stake in son's house
So a right way is with borrow up against the equity at home. You could get a house equity line of credit, yet there are a couple possible difficulties with which. First, banks have tightened their lending rules for house equity financing severely, …
Read more on HeraldNet

Toronto Second Mortgage | Best Mortgage Advice That Makes Sense

torontosecondmortgages.com | Whenever does a next mortgage create sense? Second mortgages are an great tool for individual credit repair. Second mortgages may lower a monthly bill repayments by thousands monthly! When re-financing next mortgages will safeguard a existing initial mortgage rate of interest! Does a property deal need bridge financing? A brief expression next mortgage can function as the many expense powerful system! Increasing the worth of the house with a house renovation? Second mortgages could expense thousands lower than a individual loan! A sound financial program along with a next mortgage may aid cover brief expression money reduction. It could furthermore enable we invest inside a business. Before we begin with this significant financial choice, there are easy points you need to learn, which may help save you thousands of $ plus hours of time. What are second mortgage rates? Are there fees? What regarding hidden fees? How does a next mortgage impact my credit score? How do i discover out my credit score? Why is my credit score thus significant plus what alternative factors may stop me from getting approved? These plus your issues answered No Obligation at torontosecondmortgages.com
Video Rating: 5 / 5

Q&A: can I get information on a second mortgage loan that is not in my name, but I hold the deed on the property?

Question by gentletobetamedfish: may I receive info about a next mortgage loan which is not inside my name, nevertheless I hold the deed found on the property?
Whenever I was married my spouse took a next mortage found on the apartment. We are today divorced plus I was granted the apartment however with both mortgages. The bank carrying the note for the 2nd mortgage will likely not send me a payment book considering my name is not found on the loan. Any information?
I must add which I have continued with create repayments adding the account amount with my checks.

Best answer:

Answer by HoneySuite
Take the breakup decree, settlement agreement describing the mortgage arrangement, plus new deed with the bank. They might not allow the spouse off the hook for the mortgage, even so they makes the right preparations for we with be capable with pay it because he aren’t. You should do this immediately before the mortgage falls into standard.

Alternatively, when he’ll, have the spouse send we the payment booklet plus really pay it. It doesn’t absolutely matter which the loan is within his name. It is secured by the property plus which is a concern.

Give your answer to this question below!

Tealbrook Financial Celebrates Life Insurance Awareness Month With Free Assessment and Helpful TIPS

St. Louis, Missouri (PRWEB) October 09, 2011

Most American households are underinsured for life insurance. Whether due to the lack of finances, lack of knowledge about insurance choices, or not being proactive, families are at risk of losing their home or being unable to educate their children in the event of the death of the breadwinner.

Residents of Missouri and Illinois can take advantage of a free review of their existing life insurance coverage through the end of October (no purchase required) by Tealbrook Financial LLC in St. Louis. Michael Tsiaklides, Certified Financial Planner (CFP�), licensed life insurance agent (MO, IL) and Principal of Tealbrook Financial believes adequate life insurance coverage is a vital part of a healthy financial plan. To help raise awareness of the consequences of being underinsured, he is making this offer in celebration of Insurance Awareness Month in September, a time set aside by the Life Insurance and Market Research Association (LIMRA) in response to their recent research findings.

Tsiaklides sees the same problems among his own friends and clients, but suggests one more reason may be to blame. Many people procrastinate in buying life insurance for fear of discussing the subject of their own death, says Tsiaklides. They should reframe their thinking, and consider life insurance as a gift they are purchasing for a spouse, a partner, children, or even a beloved charity. This gift in essence will take care of future home mortgage payments, household loans and expenses, and childrens education costs.

In this special offer, Tealbrook will calculate sufficient coverage and costs, based on a persons unique financial situation, at no charge, for the first 500 respondents. Any purchase of additional coverage recommended may be made through Tealbrook or through a life insurance agent of choice.

Helpful TIPS

Tsiaklides shares several secrets that address a few of the ambiguities surrounding the buy of lifetime insurance:

����Individuals are not limited with only 1 plan yet might have several policies available from a mixture of services, including insurance agents plus employee-based benefit plans

����Take note of total amount of coverage by numerous policies; several people with several policies continue to be underinsured

����Review plan restrictions carefully; for illustration, accidental existence insurance usually just pay when death happens inside an accident

����Premiums with buy extra coverage in an employer-based program is usually not the many expense effective; consider buying more coverage from independent insurance agents

����Beware of depending entirely about employer-based programs; the reduction of work signifies reduction of existence insurance benefits

����Purchase lifetime insurance policies before we age plus wellness starts with deteriorate with lock-in right price; costs rise because we age

����Purchase existence insurance because shortly because we incur liabilities; examples include taking on a mortgage, partner, or birth of the child

To take advantage of the complimentary life insurance coverage assessment offer, or to receive additional information or brochures, email mike(at)tealbrookfinancial(dot)com.

About Tealbrook Financial, LLC

Founded inside 2001, Tealbrook Financial LLC as well as its affiliated firm Tealbrook Advisors LLC supply riches administration, taxes, accounting, plus advisory services for people plus tiny companies. Principal Michael Tsiaklides is a certified insurance agent inside Missouri plus Illinois, an IRS Enrolled Agent, along with a Certified Financial PlannerTM. The mission of Tealbrook Financial, LLC is with recognize the special financial objectives plus goals of every plus each customer, plus with offer goods, services, plus information with function towards those particular objectives.

About LIMRA

The Life Insurance plus Market Research Association (LIMRA), a subsidiary of LL Global, is an organization of lifetime insurance plus financial services businesses with around 850 members inside over 70 nations all over the world. LIMRA was founded inside 1916 to do analysis plus additional escapades to aid associate businesses internationally enhance their advertising plus distribution capability. LIMRAs main workplace is positioned inside Windsor, Connecticut.

###

How do I use the Mortgage Forgiveness Debt Relief Act of 2007 to negotiate a fix loan on my 1st and 2nd mtg?

Question by Lil’Hern: How do I utilize the Mortgage Forgiveness Debt Relief Act of 2007 with negotiate a fix loan about my first plus second mtg?
My initially mortgage is with Aurora Loan services for $ 355,200 @ 6.875 5 year fixed 2nd mortgage at $ 88,800 with Washington mutual @ 13% 20 year due inside 15 Balloon. I cannot refinance because my value has dropped about $ 20,000 is there any law which might enable me with renegotiate this with my creditors? I nevertheless have 3 years left yet I quite do this today plus take benefit of the relief act. I am not inside standard plus wish To avoid being inside standard whenever negotiating any secrets we men can provide me? Thanks!

Best answer:

Answer by v b
Unless congress/senate change the law, the bank doesn’t owe we anything plus isn’t needed with change the terms of the loan.

The debt act just states which when the bank does change the terms or forecloses which you are capable with avoid having cancellation of debt money found on the amount we are not able to pay back with the bank.

Add your own answer in the comments!

Latest Refinancing News

Refinancing Poor Credit Car Loans
You even built a website for applicants that explain such issues because credit scores plus bankruptcy and today's topic, bad credit car loan refinancing. Refinancing bad credit vehicle loans may mean a amount of things: cutting the rate of interest, …
Read more on Auto Credit Express (blog)

Mohegan Discloses 'Going Concern' Risk as It Works to Refinance
29 (Bloomberg) — Mohegan Tribal Gaming Authority, the operator of Mohegan Sun casinos in Connecticut and Pennsylvania, mentioned it has yet to reach an agreement to refinance $ 811 million in debt, raising the risk of being unable to continue running. …
Read more on BusinessWeek

Refinancing Gets Even More Attractive
By ANNAMARIA ANDRIOTIS Homeowners who have resisted the urge to refinance their mortgages till today can be rewarded for their willpower. Mortgage rates have fallen to brand-new lows—and banks are coming out incentives to win company. …
Read more on Wall Street Journal

Refinancing Kenston universities bonds might cut costs for citizens
By Andy Attina, Sun News BAINBRIDGE The Kenston School District is in the process of refinancing a series of bonds that can understand a savings of about $ 3 million for residents of Auburn plus Bainbridge townships. District Treasurer Linda Hein spent …
Read more on Plain Dealer (blog)

Which mortgage loan is best for a medical resident? Any advice?

Question by : Which mortgage loan is ideal for a healthcare resident? Any information?
Excellent credit score, 20% down, No debt except student loans (is deferred during residency), retirement savings and assets including 2 paid vehicles. Problem I is mobile thus need new job (same profession). Husband might have contract on proof of income (is a doctor doing his residency) however not start till July. Could have co-signer when required. Want to take benefit of taxes credit when possible.

Best answer:

Answer by Age of Reason
One have to store for a mortgage. Every lender has been very tightfisted. Try the nearby bank first. Wells Fargo is good. The taxes credit ends April 30th. One might never make it.

Add your own answer in the comments!

Refinancing vs Home equity Loans once you take the house of the market?

Question by : Refinancing versus Home equity Loans when you take the home of the marketplace?
Taking the home off the marketplace you are not qualified to refinance because of the rules by the government How may you a home equity loan plus where may I discover the current fixed rates? Thank we

Best answer:

Answer by sbinlb
Just because home was for sale and today it’s not, has no impact on whether we may refinance or not.
You have to have 80% equity to be qualified for a home equity loan.

Add your own answer in the comments!

Home equity loans what happens when my mom dies?

Question by cumbrlnd: Home equity loans what occurs whenever my mother dies?
My mom whom is 85 got a equity loan on her home instead of a reverse mortage loan. I was told today that whenever she passes the total loan becomes due plus payable? Basicly that you can’t simply keep creating the payments. Is that true? She did this loan thus the home can remain in the family instead of it being lost at the time of her death? Wat that the right choice any input will be appreciated.

Best answer:

Answer by GoldyLox1116
the structure of the loan has nothing to do with the ownership of the home. home equity loan simply gives her access to money. mother must place it her can that the home is given to a particular individual. i would check with the bank to see what occurs in the situation you outline.

What do you think? Answer below!

Tips/gifts for realtor and mortgage broker?

Question by rinkrat: Tips/gifts for realtor and mortgage broker?
I am closing on my first condo this week. I am wondering if it’s customary to give my realtor (who has been working with me for months to find a place) and/or my mortgage broker (who pushed the loan through rattling quickly for me) a gift of some kind as a thank you after the deal is done.

Best answer:

Answer by HangTheDJ
As a current Loan Officer I would appreciate a gift card for a nice restaurant.

Add your own answer in the comments!

Mortgage Loan Application Documents: What You Should Know

Intimidated by the loan application documents for your mortgage loan? Understand the mortgage loan and document process, ask questions of your lender and read your mortgage loan documents carefully. Learn more about the mortgage loan application process in this Expert Real Estate Tips segment…

Vera Gibbons spoke with Julie Chen about when is a good time for a turn mortgage and what to look out for.
Video Rating: / 5

Colorado Mortgage Loan Shopping Tips

www.WowColoradoMortgageLoans.com Get Great Tips for Shopping for a Home Mortgage Loan in Denver or Aurora Colorado! Whether you are a First Time buyer looking to buy a Home in Colorado or a Homeowner looking to get the Best Deal on Refinancing your home- You will find these tips could Save You lot’s of Money.
Video Rating: 1 / 5

Mortgage-Bad-Credit.us low mortgage rates low mortgage rate buy to let mortgage rates mortgage refinance mortgage rates mortgage application 30 year mortgage home mortgages mortgage finder calculator mortgage find mortgage mortgage reduction current mortgage variable mortgage mortgage services…

YouWalkAway.com Survey Finds Expiring Debt Relief Act Fueling Foreclosure Action

YouWalkAway.com Survey Finds Expiring Debt Relief Act Fueling Foreclosure Action

Carsbad, Calif. (PRWEB) November 17, 2011

In a national survey of its current clients actively considering or navigating through the foreclosure process, YouWalkAway.com, a leading foreclosure agency that helps people understand and manage the foreclosure process, revealed that 35 percent of those surveyed indicated that the Mortgage Debt Relief Act expiration date of December 31, 2012 contributed to their decisions to walk away sooner rather than later from their property.

The Mortgage Debt Relief Act relieves former homeowners of their obligation to pay taxes on the difference between their loan amount and the amount their property fetches through short sale or at auction after foreclosure. The foreclosure process takes, on average, one year from start to finish.

“The survey results are not surprise; YouWalkAway.com has seen a number of homeowners reach out to us due to the impending 2012 deadline,” reports Jon Maddux, CEO of YouWalkAway.com. “Many are determining to begin the foreclosure process sooner rather than later in order to ensure their foreclosure is consummate by the end of 2012.”

To parry a big tax played and defend his family through the Debt Relief Act of 2007, YouWalkAway.com client Robert Applebee of Homestead, Fla. began the strategical foreclosure process in June 2010. He has a $ 184,000 mortgage from Bank of America on a home that in July 2011 was evaluated at $ 49,900. Most late, Bank of America declined a $ 55,000 inadequate sale accost on Applebee’s home. If Applebee’s property were to convey $ 75,000 at auction, he would have to modify $ 109,000 to his net income and subsidize income taxes established on this amount if his foreclosure process is not completed by the end of 2012 and the Mortgage Debt Relief Act is not broadened.

The Mortgage Debt Relief Act was created to protect homeowners who are foreclosing on principal residences only and who have never refinanced by taking out a home equity line of credit. The Internal Revenue Service states that The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through bonding restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualifies for the relief.

“Today, about 80 percent of the people who come to me inquiring about foreclosure tax ramifications qualify for tax relief under the Mortgage Debt Relief Act,” states Cheryl Gerhardt, a CPA who has worked with some YouWalkAway.com clients. “These are usually people who purchased during the height of the market from 2005 to 2007 and never had the opportunity to take out a second, whereas a few years ago clients who were getting foreclosed upon had made purchases in the early 2000’s, took out a home equity line of credit and could not qualify.”

Gerhardt continued, “More 2005 to 2007 buyers are realizing they may be better off walking away from their home, but only once they start to think about this do the start to considering all the factors, including taxes. I believe there are many of these buyers who do not know they need to act soon because of the approaching expiration of the Mortgage Debt Relief Act.”

Additional results of the YouWalkAway.com survey indicate that 78 percent of the respondents were walking away from their primary residence. Of those, at least 76 percent would qualify for relief under the act. When asked whether they knew about the Mortgage Debt Relief Act, most of the respondents said they contacted YouWalkAway.com because they had heard about the act but were seeking additional information.

Maddux adds, “The potential protection afforded by the Mortgage Debt Relief Act is not common knowledge. Potentially millions of people will find themselves stuck with a huge tax bill after foreclosure if the government doesn’t renew the Debt Relief Act at the end of 2012 or if they don’t finalize their foreclosure by that date. The bill may well expire, like when Congress chose not to renew the home buyer’s tax credit.”

A YouWalkAway.com client who wishes to provide only her first name, Gabrielle, is walking away from her Los Angeles home because she is upside down on her mortgage by $ 130,000. “The expiring Debt Relief Act prompted me to act now,” she said. “I’m in an adjustable rate mortgage, so the monthly payment is quite low, and I like living here, but staying is financially risky, especially not knowing where rates will be in five to ten years.”

According to the Lender Processing Services Mortgage Monitor, over four million home loans are 90 days or more delinquent or in foreclosure as of November 1, 2011.

YouWalkAway.com surveyed 2108 individuals and received 518 responses for the above-referenced survey.

About YouWalkAway.com

Located in Northern San Diego, Calif., YouWalkAway.com is a foreclosure agency run by a team of real estate and legal experts with more than 50 years of combined experience. Featured in a wide range of reputable and knock-down media pieces, YouWalkAway.com is acknowledge for being a trustworthy and valid foreclosure resource agency and the nation’s foremost authority on foreclosure laws and consequences. It is the objective of YouWalkAway.com to authorize homeowners who purchased their homed at the peak of the real estate market to take control of their financial future. http://www.youwalkaway.com

###

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Farm Credit Services of Mid-America Reports Third Quarter 2011 Earnings

Farm Credit Services of Mid-America Reports Third Quarter 2011 Earnings

www.e-farmcredit.com

Louisville, KY (PRWEB) November 15, 2011

Agriculture lender Farm Credit Services of Mid-America announced the association generated $ 191.6 million in net earnings during the first nine months of 2011, an increase of $ 30.5 million over the same period last year. Total earning assets increased more than $ 1 billion compared to the 3rd Quarter 2010.

President and Chief Executive Officer Bill Johnson said strong farm earnings continue to bolster the economy and that has had a positive impact on the earnings of the association. “The farm sector continues to be a bright spot in an otherwise unpredictable economy,” Johnson said. “That, coupled with the low interest rate environment, has allowed us to offer competitive interest rates to customer-members on new loans so they are able to grow their operations.”

At the same time, the credit quality of the association’s portfolio is stable. Adversely classified loan volume was 4.1% of the loan portfolio compared to 4.2% at September 30, 2010.

The association’s commitment to rural America remains strong. Johnson sited conversion activity as one example. “Since the beginning of the year, Farm Credit has converted – or refinanced – 20,000 customer loans representing almost $ 3.5 billion in volume, lowering their interest rates almost three-quarters of a percent and saving those customers a total of $ 75 million in interest over three years. “Our fee for conversions is as low as $ 350 with very minimal paperwork. Our customers are surprised that we can lower their interest rate even on fixed rate loans.”

Another way the association is providing value to rural communities is through the availability of long-term fixed rate financing for farms. “Currently 36% of our customers have loans on fixed rates of 10 years or longer. In today’s volatile farm environment, where farms are experiencing rising operating expenses, wide swings in commodity prices and uncertainty with exports, it’s even more critical that they manage their operational risk. One way to do so is to ensure that the cost of their financing remains consistent.”

Johnson added that the strategic plan calls for continued growth. “We’ll do that by making certain that our products and programs fit our customers’ needs and adapting to the changing demands of a new agriculture marketplace. It’s all about providing value to those who live and work in rural America.”
To see the consummate results, go to http://www.e-farmcredit.com, take News, then Quarterly Report.
About Farm Credit Services of Mid-America

Farm Credit Services of Mid-America is a $ 17.1 billion financial services cooperative serving over 92,d farmers, agribusinesses and rural residents in Kentucky, Ohio, Indiana and Tennessee. The association provides loans for all farm and rural living purposes including including real estate, operating loans,equipment loans, and housing lending. FCS also provides a ranging of financial services, including crop insurance and leases. For more information about Farm Credit, call 1-800-444-FARM or see them on the web at http://www.e-farmcredit.com.

###

©Copyright 1997-

, Vocus PRW Holdings, LLC. Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

Find More Refinancing Press Releases