Life and Living at the Jersey Shore Episode 3 January 19, 2011

This week’s episode includes

• Interesting Statistics
• Notes from Tom
• Fun things to do
• Tom’s tips
• This week’s Home Anniversaries
• Being a Smart Homeowner in 2011

Brought to you by The Tom Smith Realty Group, Thomas J Smith and Amanda Nichols. For more information call/text 609 709-1429 visit: http://www.sellertom.com/ Tom@sellertom.com

Being A Smart Homeowner In 2011
Top Eight Things You Should Not Do Before Applying For A Home Loan

1. DON'T .. buy or lease a car or truck.
The lender looks carefully at the debt-to-income ratio and a large payment such as a car lease or loan can greatly impact those ratios and prevent you from qualifying. Also, each time an auto dealer or car insurance company checks your credit, your credit rating could be affected..

2. DON'T .. be tempted by low introductory rates or store discounts offered with new credit cards.
Each time a creditor opens an account for you they check your credit. Each time they check your credit, an inquiry is created in your credit file, which could affect your credit rating. And each new account that is opened could further impact on your credit rating because you are taking on more debt.

3. DON'T .. move assets from one bank to another.
These show up as new accounts or large deposits and complicate the application process, if you must, then document the source of funds for each new account. It is better to let the lender verify each account before you move the funds around.

4. DON'T .. change jobs.
Even if you earned bonuses or commissions in your previous job, the lender will not be able to use this income in a new job until you have a year or two of earnings history behind you, which could seriously impact your ability to qualify for a loan.

5. DON'T .. buy new furniture or major appliances for the "new house".
If the new purchase increases your debt load, it can disqualify you from the loan or deplete your funds to close. And don't forget, each time someone checks your credit or you open a new account, your credit rating can be affected.

6. DON'T .. attempt to consolidate bills before speaking to your lender.
The lender can advise you if this needs to be done.

7. DON'T .. pack or ship information that may be needed for the loan application.
important paperwork such as w-2's, divorce decrees death certificates, and tax returns should not be sent with your household goods. Duplicate copies can take weeks.

8. DON'T .. throw away pay stubs and bank statements.
Save everything until after your loan closes. You will need to provide one to two months' worth of documentation when you apply for your loan, and you may need to provide additional paperwork prior to closing.

For more tips on being a smart homeowner in 2011 email Tom@Sellertom.com

Call/Text Tom 609 709-1429

Brought to you by The Tom Smith Realty Group, Thomas J Smith and Amanda Nichols. For more information call/text 609 709-1429 visit: www.Sellertom.com Tom@sellertom.com

Episode 2 January 11, 2011 of our weekly video show. Showcases Real Estate, Timely tips, fun things to do at the Jersey shore, Real Estate statistics and information.



This week’s episode includes
Notes from Tom - Tax deduction for a home that was purchased in 2010

Fun things to do:
Stafford Township Branch of the Ocean County Library is showing the motion picture “Inception” starring Leonardo Dicaprio at 2 pm on Saturday, 1/15. This is a free screening, no reservations required

Shamless Bragg of the Week – from Stan and Kathy
THANKS SO MUCH FOR ALL YOU DID IN GETTING OUR HOME IN WHITING SOLD. WE CAN'T TELL YOU HOW GRATEFUL WE ARE. IT TOOK A LONG TIME TO GET IT DONE AND YOU AND YOUR TEAM WERE THE ONE FOR THE JOB. WE COULD NOT HAVE DONE IT WITHOUT YOU. AS ALWAYS YOU COME THROUGH. OUR ETERNAL THANKS.

This week’s Home Anniversaries – Pattie from Little Egg Harbor who purchased her home in 2005 and Julie & Mary Ellen who purchased their home in Manahawkin in 2004.

Being a Smart Homeowner in 2011 – Top Eight Things You Should Not Do
Before Applying For A Home Loan


Brought to you by The Tom Smith Realty Group, Thomas J Smith and Amanda Nichols. For more information call/text 609 709-1429 visit: http://www.sellertom.com/ Tom@sellertom.com

Life And Living At The Jersey Shore

This is the first episode of a weekly video show.

Each Episode will feature

• Fun things to do at the Jersey Shore,
• Real Estate Statistics
• Real Estate Tips
• Be A Smart Homeowner in 2011
• And More.

So tune in each week & let us know what you think!

The Tom Smith Realty Group

Tom & Amanda

Email Tom: Tom@Sellertom.com

Email Amanda: Amanda@Sellertom.com