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Lender Points: What Are They, and Should You Pay Them?
 
In the world of lending, one point is 1% of a loan amount. So, one point on a $150,000 loan would be $1,500. Points, in general, may be referred to as either discount points or loan origination points.

You may have heard the term points used in a couple of different ways. One of them is probably in mortgage loan advertisements, referring specifically to how many points a lender is charging for a given rate on a loan.

For example, Lender A is offering a 5.0% interest rate on a 30-year, fixed-rate mortgage and is charging no points. Lender B is offering the same loan at a lower rate of 4.5% but is charging one point, or $1,500. Why is this?

The answer is that lenders, like any other business, need to make money to be able to stay in business. Lenders make money on loans in one of two ways.

One way is via the interest rate they charge. The higher the rate, the more money they make when they sell the loan after it closes. The other way they make money is to charge fees.

However, to remain competitive with each other in the marketplace, lenders need to offer you, the consumer, the best possible terms.

As you consider your loan options, your long-term ownership plan as well as your willingness to pay points will help determine your best strategy.

A consultation with your mortgage professional can help determine which option is best for you.

 
Climbing the Branches of the Family Tree
 
Curious about your ancestry? Sorting out your family tree can require some tricky digging. Fortunately, resources are available to help you trace your roots. There are many online genealogy sites, although many of them charge for their services. Still, it is entirely possible to build a family tree by investing nothing more than time. Family tree software and online chat rooms can help you get started. The website My Heritage offers a family tree template at www.myheritage.com/family-tree.

There are many online genealogy sites, although many of them charge for their services. Still, it is entirely possible to build a family tree by investing nothing more than time - and help is close at hand. Family tree software and online chat rooms can help you get started. Google offers a family tree template at www.ggldocfamilytree.com. You can click on YouTube for easy how-to explanations.

Once you've decided to dig into your roots, begin with what you know - your family. Ask questions to discover names, spellings, and birth places. Go through family albums. Visit graves and scour religious records. If a relative has done any research, use this as a starting point. Trace your ancestry lines as far back as you can, adding relevant details such as birthdays, marriages, and death dates. Here are a few tips as you work your way up the family tree.

Begin with a direct route, starting with yourself; then add your parents and grandparents, and add branches from there. A simple web search may help with details.

Search the census records. Since names and their spellings may have changed along the way, be diligent. Find your most recent ancestors on each census, and then work your way into the past.

Use documents and physical records such as naturalization papers and marriage and birth certificates. And remember, if you get stuck, you can always try a genealogy service.

 
Is Good Health Part of Your Genetic Makeup?
The growing cultural interest in unearthing family histories could be good for your health. Your family's medical history can help reveal what diseases you may be at risk for developing and help you plan a good lifestyle to prevent them.

Ailments including asthma, heart disease, high cholesterol, diabetes and cancer can run in families. To determine whether these might be in your genes, research your family's medical history. Read death certificates and medical records, if available. Pay attention to the ages of death and the causes of death. Notice whether more than one close family member has the same disease and whether family members develop diseases at a younger-than-usual age. Some combinations of diseases in the same family can also be dangerous: heart disease and diabetes, or breast and ovarian cancer.

Genes can also impact your mental health. Bipolar disease can run in families. Researchers are investigating whether depression can also be hereditary. If a close family member has or had Alzheimer's, your risk increases. Research into the genetic links of dementia and Alzheimer's is fairly new, but it's important information to know.

Genetics can be a factor in non-life-threatening diseases as well. Glaucoma, for example, can run in families. If you have a family history of glaucoma, make sure you get your eyes tested regularly, including for glaucoma.

Your family history can help you determine what genetic tests you want to pursue and can help guide a strategic healthy lifestyle. You can't change your genes, but you can control your diet and exercise.

 
Why You Need a Real Estate Attorney
 
Hiring a real estate attorney is a critical part of your real estate purchase process.

Some transactions require buyers to have one. For those who get to choose, opting for a real estate attorney is a wise choice.

Why exactly would you need a real estate attorney? For the same reason that you would need one for any other legal matter - to protect your interests.

An attorney provides a second set of eyes, which you should have from the very beginning of the purchase process.

Before you sign any sales contract, regardless of your impulse or what others may be telling you, make sure that it contains verbiage that allows for an attorney review period. This allows time for your attorney to thoroughly go through it and see if there is anything of concern.

He or she can also clarify details such as what items (fixtures, appliances, etc.) are part of the purchase agreement.

There should also be verbiage in the contract that allows you to have a home inspection performed. The results of that home inspection should also be given to and reviewed by your real estate attorney.

In addition to the points discussed above, there are aspects of the transaction that you would want to discuss only with an attorney. These include matters related to the ownership of the property.

An example of this might be an incorrectly drawn lot line. That lot line, if erroneously moved three feet further out from the home, could make you the owner of a fence.

From this point forward, you would be on the hook to maintain that fence. Neither a real estate agent nor a lender should ever attempt to take on something like this.

To ensure you partner with someone familiar with all of these matters, look for an attorney who solely handles real estate transactions. Your mortgage professional is a good source for referrals.

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Considering a New Mortgage? Get These Essential Tips
Mortgages are getting ever more complex. And if you don't have the right advice, you could end up making an expensive mistake.

To save yourself potentially thousands of dollars, get my free guide, "How to Choose a Mortgage Loan That's Right for You."
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Sweet and Sour Broccoli Salad
Perfect for busy back-to-school days. It's easy to throw together, and it keeps well, so it can be made in advance for a quick dinner.
Serves 4
1 large head broccoli, raw
1/2 cup slivered almonds, toasted
1/2 cup cooked, crumbled bacon (optional)
1 1/2 cups chopped celery
1 1/2 cups halved green grapes
1 bunch of spring onions, green and white parts sliced
1 cup raisins
3/4 cup mayonnaise
3/4 cup yogurt
1/4 cup sugar
2 tablespoons vinegar
Directions
Break raw broccoli into florets and place in a large bowl. Add almonds, bacon, celery, grapes, spring onion, and raisins.

For the dressing, combine remaining ingredients and pour over broccoli mixture. Toss, and serve at room temperature.

Add rotisserie chicken, cubed ham, or canned garbanzo beans for a delicious twist!
This newsletter and any information contained herein are intended for general informational purposes only and should not be construed as legal, financial or medical advice. The publisher takes great efforts to ensure the accuracy of information contained in this newsletter. However, we will not be responsible at any time for any errors or omissions or any damages, howsoever caused, that result from its use. Seek competent professional advice and/or legal counsel with respect to any matter discussed or published in this newsletter. This newsletter is not intended to solicit properties currently for sale.
EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING (NMLS ID #2129) at 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. Copyright © 2016. All rights reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states. Other restrictions and limitations may apply. Supreme Lending is not affiliated with any government agency. For all other licenses, visit http://www.nmlsconsumeraccess.org/. Nevada Division of Mortgage Lending Mortgage Banker License 4063.
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