Add new tag

Are loan fees going up on Fannie Mae mortgages next year?

Dec 20th, 2011
by edsmith.
Comments are off for this post

Yes. Maybe. Our elected Mensas in the U.S.  Senate, in an effort to aid and assist an ailing real estate industry (ha!),  voted to increase mortgage fees on newly originated Fannie Mae, Freddie Mac and FHA loans. This increase will equate to $180 per year on a $200,000 mortgage, and will last for the life of the loan.  This new tax is said to be necessary to extend the much publicized “payroll tax cut” for an additional two months.  Okay, then what? And besides, who ever said that intelligent life exists in Washington?

 

Congress may very well choose to reject this latest Senate proposal, in which case the payroll tax cut may be allowed to expire. If so, expect a cut in your take-home pay come January 1st.

Garbage is a Dirty Word

Nov 8th, 2011
by edsmith.
Comments are off for this post
Garbage can be a dirty word around Destin. With 15% of the voting population signing a petition to suspend an ordinance passed by the City Council, Destin is back to the drawing board with regard to garbage collection. At issue was a provision that would have placed residents’ trash bills on their annual property tax bill. Opponents argued that the city did not have the authority to take such an action to begin with. Other factors were that not all residences In Destin are occupied full-time. Some owners
would have to pay for 12 months of service for properties that are occupied for perhaps a couple of months or less per year.  

 

Also at odds with city residents was the limited discount that would have resulted. Waste Management stood to receive a large increase in both revenues and profit. Revenues because the city would bill out each and every residence.  100% of all homes and condos within the city limits would be assessed. Profit because Waste Management would no longer have to bill out 5,000+ invoices and quarterly stickers for the individual cans. Additionally, Waste Management would no longer have any billing delinquency issues such as they have now.  

 

What is next for garbage collection in the World’s Luckiest Fishing Village? I would suggest that if garbage collection is our biggest challenge next year, 2012 should be a very good year!