Mortgage Rules Make it Harder to Qualify!

For some buyers, it will be more difficult to qualify for a loan for their new home. Why? Well, the mortgage market and the housing market have both changed a lot over the last couple of years. These changes have caused the rules for qualifying for a low-interest mortgage much more difficult.

In the past, many homeowners were passing on the fixed-rate mortgage and utilizing an adjustable rate mortgage. Bankrate says that for some homeowners, those not planning to stay in their home longer than 5 years, an adjustable rate mortgage was usually a good fit. For those that did plan on staying in their home for more than 5 years, a fixed rate mortgage was usually the right choice. With the changing economy and more difficult standards, however, things are changing.

Two of the new rules for mortgage qualification include:

• FICO scores must now be at least 740 in order to get the best rates, fees, and points.
• Homeowners using an FHA loan may now only spend 31% of their gross monthly income on their house payment, including principal, insurance, interest, taxes, and association fees.

Want a few tips to help improve your chances? First, check your FICO score regularly. If your score is lower than optimum, you can begin making changes to raise the score. If your score is already high, then you know you are doing the right things. Second, don't focus simply on interest rates when trying to get a loan. Remember that you have the option to pay discount points or change the type of loan. Third, always compare several different loan options to determine what the differences in cost really are. You can compare a loan with a higher interest rate with no points to a loan that is a lower rate but requires points to be paid. You can also compare your options with different companies. Finally, if you refinance your house after 5 years, don't get another 30 year loan. Get your loan amortized for the remaining period of your old loan.

To read the article from the Tulsa World, "Buyers Forced to Jump Through Hoops", visit this link.

To buy or sell your Tulsa, OK property, contact Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com.

Take it Easy!

Wouldn't you love to have someone turn on the lights at a moments notice? What about the home theater system or even the security system? No need. With home automation, you can control all of these things and more with a remote. Take it easy from the comfort of your favorite chair.

What exactly is home automation? Home automation involves using a remote control or another device to control multiple parts of your house, which can include: lighting, security, telephone, temperature, sprinklers, windows, and more. Home automation systems can even allow you to change the temperature of your home from a cell phone while you are away!

Can you afford to have your Tulsa, OK area home installed with a home automation system? Find out by contacting Keegan Beck of KMB Enterprises at 918-527-1031, Keegan@KMBEnterprisesllc.com or www.kmbenterprisesllc.com

For home maintenance professionals in the Tulsa, OK area, visit www.tulsahomecare.com.

Junior Achievement of Oklahoma, Inc.

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Homes for Sale in the Tulsa, OK area...

In the market for a new home in the Tulsa, OK area? Ever just wondered what's on the market right now in the Tulsa area? Watch the videos below for some information on just a few of listings from The Baskin Real Estate Specialists of McGraw Realtors. For more information on these listings or to buy or sell your home in the Tulsa, OK area, contact Darryl Baskin of McGraw Realtors at 918-258-2600 or www.darrylbaskin.com.










Don't forget to watch The Future of Real Estate on KWHB Channel 47 in Tulsa, OK on Saturdays at 11:30AM and Sundays at 5:00AM. You can also catch The Future of Real Estate on radio station KRMG at 970AM or 102.3FM every Saturday from 12:00-1:00PM.

Missed a show? Check out the Radio Show Archives for a list of previous shows and their topics.

Family Fun, Just a Short Drive From Home!

With the economy the way it has been, there are many of us who simply are not taking a typical summer vacation. Some families are looking for fun things to do that are close by home. Oklahoma has many fun and interesting things to do for people of all ages. One of the most fun for parents and kids, however, would have to be The Jasmine Moran Children's Museum.

The Jasmine Moran Children's Museum was started by Melvin and Jasmine Moran. Although the museum is located in Seminole, Oklahoma, a town of only 7000 residents, it brings in upwards of 60,000 visitors each year. The museum started small but has grown to a 37,000 square foot facility and 10 acres of outside fun with the help of many donors including Henry Zarrow and The George Kaiser Family Foundation. In fact, the museum has become one of the largest children's museums in the country. Okay, I know you are probably saying, "Enough now, tell me what makes this museum so fun!"

When visiting the museum you will find that things are a lot different than at most museum. This museum is hands-on and educational. Parents and kids can learn and experience lots of different things including:

• miniature town (where kids learn safety)
• kid friendly train (kids ride over half-mile around museum grounds)
  
• 12,000 square foot maize
  
• large pond
• nature park
• mini grocery store (where kids learn about handling money)
• mock TV station/weather center (kids learn about video, TV, and weather)
  
• dinosaur bone digs (kids learn about archaeology)
  
• medical center (kids can also watch a video to learn what entering the medical field entails)
  
• school room
• courtroom
• WaterWorks exhibit (if you're not afraid to get wet)
  
• Mayan Exhibit
• much, much, more

There are so many fun things to do, learn and explore at the museum, I couldn't name them all. You have to just come see for yourself.

Museum Hours are Tuesday-Saturday 10AM-5PM, Sunday 1PM-5PM.
Admission Costs (not including tax) are $8 for ages 3-60, $7 for those over 60, kids under 3 are free with an adult.

For more information about The Jasmine Moran Children's Museum in Seminole, Oklahoma, visit their website at www.jasminemoran.com.

To read the original article in The Tulsa World, "Hands On" visit this link.

To buy or sell a home in Tulsa, OK and surrounding areas, call Kelly Howard of McGraw Realtors at 918-230-6341 or www.kellyhowardhomes.com

What you should know before you get a security system!

What is involved in security system installation and what should I expect from a good security company? Read on for a quick overview.

1. The first step in security system installation begins beforehand. A good company will consider all your needs to ensure that your family and property are completely secure.
2. You should receive a clear detailed estimate of what is being done and when it will be complete. Ask the company to include exactly what is being installed.
3. You should always ask what steps are taken in the hiring process. In other words, are background checks being performed on employees that will be installing and servicing your property?
4. Ensure that the company is licensed.
5. A good company will guarantee their work and the equipment installed.
6. Always make sure that the system has a battery back-up.
7. Read all the fine print in the contract!

To have a security system installed in the Tulsa, OK area or for questions, contact Tory Tipp of TNT Security at 918-313-4074, torytipp@yahoo.com, or www.tntsecurityservices.com

For other home maintenance professionals in the Tulsa, OK area, visit www.tulsahomecare.com.

How Do I Handle Fraud in Title Insurance?

Handling fraud in any situation is difficult. When it comes to title insurance, there are some things to keep in mind. First, let's define title insurance. Title Insurance is insurance that covers financial loss as a result of a defect in a title to real estate. Second, we need to know what period the insurance will cover. When we buy homeowner's or auto insurance, we are covering our home or auto from the time we purchase the policy until that point in the future that the coverage is canceled. With title insurance, though, it works in reverse. Title insurance covers from the moment you purchase your home and into the past. If you are sued after you close on the property, then the title insurance may not cover you. Finally, title insurance issues can be quite tricky. To ensure that you are covered for everything you need, talk to your attorney or your title company. You may even consider asking for extended coverage on your title insurance to cover you from your home purchase into the future.

If you have legal problems with your Oklahoma title, contact David Keesling at Richardson, Richardson, Boudreaux at 918-492-7674 or www.rrblawok.com.

To purchase title insurance or if you have questions about title insurance in Oklahoma, contact Ann Rollins of Closings of Tulsa at 918-493-2241 or www.closingsoftulsa.com

For all your Oklahoma home, auto, and life insurance needs and more, contact Mike Tedford, Tedford Insurance at 918-299-2345 or www.tedfordinsurance.com

Staying Cool This Summer!- Keep your A/C running it's best.

Staying cool during the summer can be a difficult task, especially when our temperatures in Tulsa, Oklahoma are nearing 100 degrees. What can you do to stay cool inside and help keep your A/C running properly in this high heat?

• Always change your air filter. When the filter gets dirty, the system doesn't run efficiently and can cause your energy bills to increase.
  
• Don't store things near your outside unit. Always make sure you don't store things right by your outside unit or let lawn or other debris stay by it.
  
• Get a programmable thermostat. A programmable thermostat is inexpensive and can help keep the temperature steady without constantly changing it. It can also help your unit to run less often and save on energy costs.
• Get an annual A/C check-up. Have your system checked annually by a qualified service technician.
• Replace older systems. When your system is 12 years old, consider replacing it for a newer model. As systems age, they run less efficiently and can cost more to repair. Ask your service company about your system when they do their annual check.

These simple tips can help your current system run more efficiently as well as reduce your energy costs. If you have a new system or are replacing an old one soon, remember these tips to give your new system a great, long life.

For more information on how air filters keep your A/C running efficiently or to buy air filters online, contact Rick Butefish of Filters 4 Me at 918-292-8600 or www.filters4me.com

To have your annual A/C system service or to replace or repair your A/C unit in the Tulsa, OK area, contact Stephen Taylor of Air Assurance at 918-258-HEAT, 918-258-COOL or www.airassurance.com

For all your Tulsa, OK area home maintenance needs and more, visit www.tulsahomemaintenance.com

JA BIzWalk Highlights Downtown Tulsa, OK

 

 

Junior Achievement of Tulsa holds another successful BizWalk touring downtown Tulsa, OK.  Many new developments, future construction projects, recent completions and historic hot spots were toured by participants who raised money for the event.  Participants went back stage at the Cains Ballroom, visited the new luxury suites at OneOak Field, and stepped inside the newest labs at OSU Tulsa among many other sites.  Junior Achievement teaches students how to manage finances and make sound financial decisions for a prosperous future.  For more photos from the event, visit http://gallery.me.com/darrylbaskin#100965

More information: tulsa.ja.org

Pictured: Brian Jackson, Erica Irvine, Shannan Beeler, Darryl Baskin, Lisa Harris, Martha Rongey

New Area Code

By  now, probably most everyone in the 918 area has heard that we will be getting a new area code.  It will no longer be simply 918.  Now we will be adding area code 539.  The hardest part for most of us will be getting adjusted to using a 10 digit phone number every time we call.  To ensure that we are all ready for the new area code and 10 digit calling, the Oklahoma Corporation Commission has set up a practice period before the 10 digit calling is required.  Keep these dates in mind:

• July 7, 2010- You should have received a notice in the mail with dates and information about the new area code.
• August 7, 2010-  "Permissive Calling Period Begins"-  you can call using 7 or 10 digits.
• March 5, 2011- "Permissive Calling Period Ends"-  you will now be required to use the 10 digit number.
• April 1, 2011-  New 539 area codes will be available.  You can also request a 918 area code phone number if one is available.
• Spring 2012- 918 area code phone numbers are expected to run out.
  

The same long distance rules will apply for the 539 area code.  Simply put, if you can call a 918 area code now without long distance, you will be able to call 918 or 539 without long distance.  If you pay long distance to call 918, then you will also pay for the 539 area code

CASA- Court Appointed Special Advocates

Court Appointed Special Advocates give children in the custody of the State a voice in court. Many children who have been removed from their homes are thrust into a system of attorney's, case workers, Foster homes, judges, and a host of other representatives. CASA volunteers are appointed by a judge to speak for a child in the "system" to give the child a voice in the courtroom. As a Foster parent for twenty children over the past 13 years and an adoptive parent to seven children, I have witnessed first-hand the need for CASA in the lives of these children.

Your support of CASA whether financially, by spreading the word to your friends, or by volunteering to represent a child, will make a lasting diference in their future. Find out more about CASA here.

HEARTBEAT

GEOFFREY HICKS completes the final touches on his exhibit set to open tomorrow night at Tulsa Living Arts Museum.  Opening night will feature dancers connected to a heartbeat monitor activating lights in the exhibit. The Tulsa, OK Living Arts Museum is located on Brady Street in downtown Tulsa, OK.