Fetch A Great Deal.
6B
THE NATCHITOCHES TIMES Weekend Edition, February 1-2, 2014
House Shopping? START HERE!
REALTOR
®
Senate passes bill to delay flood insurance premium hike WASHINGTON (AP) – Hundreds of thousands of homeowners in coastal and floodprone areas would win protection from sharply higher federal flood insurance premiums under legislation muscled through the Senate on Thursday after angry constituents inundated Capitol Hill with complaints. The 67-32 vote reflects widespread alarm about changes enacted two years ago to shore up the program’s finances. In many cases the changes produced unexpected, sky-high insurance rates that are unaffordable for many homeowners in flood-prone areas whose insurance has historically been subsidized by the government and other policyholders. “Something is just terribly wrong when homeowners are more worried about raging flood premiums than they are about raging floods,” said Sen. Jeff Merkley, D-Ore. The bill would delay for up to four years huge premium increases that are supposed to phase in next year and beyond under new and updated government flood maps. It also would allow homeowners to pass below-cost policies on to people who buy their homes. People who have recently bought homes and face sharp, immediate jumps in their premiums would see those increases rolled back. Opponents of the bill say it unravels longsought reforms of the flood insurance program, which has required numerous taxpayer bailouts and owes $24 billion to the Treasury Department as a result. “It’s simply irresponsible for the Senate to gut reforms they overwhelmingly adopted just a year and a half ago,” said Steve Ellis, vice president of Taxpayers for Common Sense. He called the bill “an empty, feel-good, four-year delay that will keep people in harm’s way, accelerate the insolvency of the program, increase uncertainty about future rates, and cost taxpayers billions.”
AGENT ALWAYS ON CALL! 760 FRONT STREET Natchitoches, LA Ph: 318- 354-0404 Fx: 318- 354-0405 www.BoltonRealty.com
NEW LISTING!!
225 Douglas- 3Br/2Ba brick on a slab main house and 2BR/1Ba guest house on ap. 3.86 private acres. NEW LISTING!!
300 Ralph- 4Br/2Ba brick house on ap. 1 acre corner lot with shop. New roof, flooring, and compressor in 2012. PERFECT FOR STUDENTS: 531 St. Maurice- Fully remodeled 3 bedroom home. Great floor plan. New stove & dishwasher, granite, and carpet. FRONT STREET CONDO • SALE OR LEASE:
One bedroom one bath with all appliances including washer/dryer, sunroom/office/second bedroom, wet bar in living room, end unit. Call Sharon at 318-652-1330
COME PREVIEW THESE HOMES! Agent on Call-Jeanine Bridges BOLTON REALTY 318-354-0404 Visit us on the web: www.BoltonRealty.com or Email: [email protected]
Janice Bolton - (318)-471-9036 Shanna Braxton - (318)-527-6788 Jeanine Bridges - (318)-663-1372 Chris Manning - (318)-352-5154 Carolyn Aldredge - (318)-352-9959 Peggy Beaudion - (318)-613-2483 Sharon Procell - (318)-652-1330 Juanita Fowler - (318)-663-2223
The measure goes to the GOP-controlled House, where there’s tension between supporters of the Senate approach and top Republicans like Financial Services Committee Chairman Jeb Hensarling, RTexas, who is largely standing behind the 2012 changes. Hensarling spokesman David Popp said the chairman wants “free-market alternatives” to the government-run flood insurance program. But allies of delaying the rate hikes demonstrated in a 281-146 vote last year in the House that they have sweeping support for delaying premium increases. That vote, on an amendment by Rep. Bill Cassidy, was included in this month’s government-wide funding bill. It effectively guarantees a few months relief to those facing increases late this year because of new maps but doesn’t allow people to pass below-market rates on to people who buy their homes. At issue is the government-run flood insurance program, in which taxpayers and other homeowners subsidize below-risk rates paid on older homes in both coastal areas threatened by hurricanes and big storms and inland areas near flood-prone rivers. A sweeping overhaul that passed virtually unanimously in 2012 was designed to make the federal flood insurance program more financially stable and bring insurance rates more in line with the real risk of flooding. The Federal Emergency Management
Agency, supporters of the legislation say, is doing a poor job of producing new, accurate flood maps. The bill also would make it easier for homeowners to challenge faulty maps. “The rates that would be imposed if the law doesn’t get changed will be impossible – not just impractical, impossible,” said Sen. Roger Wicker, R-Miss. “It’s being implemented with faulty data and we need to go back to the drawing board.” Projections of the new rates have caused anxiety among hundreds of thousands of homeowners. The loss of subsidies when homes are sold has put a damper on the real estate market and threatened home values. Some homeowners are snagged in a Catch-22. They face rates that, once phased in, they won’t be able to afford. But because of the higher insurance rates, they also face having to sell their properties at distressed prices. Hours before the final vote, the Senate by an almost 2-1 margin rejected an alternative plan by Sen. Pat Toomey, R-Pa., that would have capped the premium increases on most properties – including homes being sold – at 25 percent per year until the premium reflected the true flood risk. Ten Republicans sided with unanimous Democrats to reject the idea. Thursday’s news was welcomed by homeowners in coastal New Jersey towns and New York City neighborhoods that were battered by Superstorm Sandy. “Most of our homeowners require flood
insurance as a condition of their mortgage,” said Jonathan Gaska, district manager for the community board that represents the Rockaway peninsula and Broad Channel. “And we were afraid that this would just become a ghost town, that people would just give up their homes because they can’t afford it.” The 2012 law has already had a chilling effect on home sales throughout the Rockaways, which is mostly populated by blue-collar workers like police officers and firefighters, Gaska said. Seaside Park, N.J., resident Chuck Appleby’s bayside opted to raise his home by 12 feet, in part because of the threat of exponential increases in flood insurance. “We decided to go up as high as possible,” he said. “That should ensure that we get the lowest insurance rate possible. Resale value is a big concern; there’s a lot of houses for sale around here. Plus, I have kids and I want to know we’ll be safe in the next storm.” But his parents, who live two doors down, restored their house to its pre-storm condition, deciding against raising it. Appleby says his parents cannot believe the insurance hikes will be as bad as feared. “We had a discussion about it the other day,” he said. “My parents said they believe that if it’s going to affect so many people so negatively, there’s no way the government would ever let it happen.”
Is a refinance the right decision? (BPT) - Once at rock bottom, interest rates have ticked up slightly in recent months. Still, the prospect of refinancing a mortgage remains attractive. Interest rates are projected to rise to 5 percent or above by August 2014, according to an August 2013, Freddie Mac study. “The window hasn’t closed, but homeowners should analyze their mortgage situation to see if a refinance can improve their overall financial picture,” says John Young, director of real estate product management at USAA. Mike Fratantoni, vice president of research and economics at the Mortgage Bankers Association, agrees. “When market rates were at 3.5 percent, 90 to 95 percent of outstanding loans would have benefited from a refi,” he says. Now, with mortgage rates at about 4.4 percent, just 25 to 30 percent of homeowners with outstanding loans would come out ahead. Here are some reasons why you should refinance. * Pay off your mortgage early. Moving from a 30-year term to a 15-year term without a big jump in monthly payments could save you thousands in interest and build equity in your home faster. * Create more cash flow. Lower interest rates can create lower
monthly mortgage payments, freeing up money to pay down debt or just to provide more wiggle room in the budget for other things. * Access home equity. On a cash-out refinance, you borrow more money than you owe on your current loan, and use the funds for purposes such as reducing other debt, remodeling your home or just recovering from a financial setback. “As home values start to rise, there is some pent-up demand for a cash-out refinance to access the equity in the home for other purposes,” says Diane Brooks, real estate product management director at USAA. Would refinancing benefit you? Fratantoni puts today’s mortgage holders into three categories: Already refinanced: Those with strong credit, job security and plenty of home equity. These homeowners refinanced in the past few years and secured a rate in the low- to mid-3 percent range. Already refinanced through federal programs: Those people with good credit and employment who lack enough equity to qualify for traditional refinancing. These borrowers only qualify to refinance through federal
Fetch A Great Deal. All the news, sports, features, columns and classifieds— delivered. Call 318-352-3618 for more information on how you can subscribe to...
Natchitoches Times
The
programs such as the Home Affordable Refinance Program, known as HARP, or the Federal Housing Administration’s streamline refinance - both advantageous to a homeowner who owes more on his mortgage than his home is worth. Fratantoni notes that many homeowners who qualify for those programs have refinanced. Current candidates for traditional refinancing: Those who regained their financial footing after a job loss or credit trouble, or who are no longer underwater as home values rise. Do your financial homework, Brooks says. “It’s not just about payment savings. That’s not the whole story.” How quickly will you recoup closing costs - typically between 2 and 5 percent of your loan? How long do you plan to stay in the home? How long are you extending the term? Doing the numbers may not reflect how badly you want more cash flow in your budget or how passionate you are about that kitchen remodel. So even if the numbers aren’t optimal, there could be enough of a financial and emotional boost to justify a mortgage refinance. Just remember, you’re leveraging your home. And a 30-year loan, while having a higher interest rate, can
provide a lower monthly payment that’s more manageable in lean financial times. “On a 30-year loan, you can make a larger monthly payment to pay the loan off in 15 years,” Young says. “If you run into cash flow problems, you can always make the minimum payment. Refinancing for a 15-year loan, while getting you a better interest rate, will also get you a higher minimum payment that must be paid on time.” Before you refinance, ask yourself these questions: * How’s my credit score? A stellar credit score can help you get a good interest rate. * How will I pay my closing costs? Many people roll them into the refinanced loan amount. But saving enough to pay for the closing in cash can make the refinance an even better deal. * Where does my mortgage fit into my family’s financial picture? Consider your overall budget, investments, college savings plan and other financial goals. * If your refinance lowers your monthly payment, what will you do with the extra cash? Many people don’t have a good strategy for this additional monthly savings. Ideally, the payment savings should be applied to other debt or to boost your savings account.
10B
THE NATCHITOCHES TIMES Weekend Edition, February 1-2, 2014
For Sale 2 BR, 1 BATH Mobile Home and Lot for sale. Located 12 Ann Street, Cedar Grove. Call 3570004
Services A+ TREE SERVICE Licensed & Insured *Pruning *Topping * Cabling *Removal *Stump Grinding. 27 years experience with Licensed Arbors on job site! 318402-9303 or 272-6235. DON BOEHLY HANDYMAN - Pressure Wash Odd Jobs. Natchitoches Parish only. (Free Estimates) 318-5272666. GLORIA’S CLEANING SERVICE Houses, trailers, churches, move-in, moveout and any type of commercial cleaning. Mobile 318-471-8491. INDOOR/OUTDOOR BUILDERS L.L.C., Larry Harper. Fencing, remodeling, room additions, ceramic tile,vinyl siding,cement work, drainage installation, general repairs. Phone 4814603 or 352-9192. STEVE’S WASHERS 352-7773. We now repair front load washers & dryers. 15 years experience. P.S. We want your old appliances.
JOHNSON’S PAINTING & REMODELING Painting, carpentry & pressure cleaning. Repair, paint & beautify your home today. Free Estimates. Please call 352-8923 JTD CONSTRUCTION, LLC for your small remodeling jobs. Free estimates for bath, kitchen, deck, and driveway and more. Call Jim Davis, contractor 318332-9927 or after 5:00 pm 318-352-4361. Licensed and insured. I change out old windows and install new aluminum windows. MARVIN’S REMODELING - Painting, vinyl siding, leveling, foundation work, gutter work. Honest and dependable. Phone 318-228-4320 or 318-7270442. TARVER’S FLOORS & MORE One Call Does It All. Carpet, wood, laminate, ceramic, drywall, painting and more. Call 318-3799961 for free estimates. WILSHIRE WOODWORKS: From design through installation, your local full service source for kitchen and bath cabinets, closets, custom furniture, counter tops, and more. 5206 Hwy 1 North, next to the bowling alley. 318-3542175
NEW AND USED MOBILE HOMES! Largest selection in the 14X72 2BR 2BATH SW ARK-LA-TEX! Let us $6000.00 home only. 318- show you how easy home356-9866 ownership can be. Call 28x50 3br 2bath DW now 318-752-8243 $29,900.00 Delivered and Real Estate set. 318-238-6898 REPO on land in 205 KELLY Newly renoMansfield, financing avail- vated, this brick home has able. 318-356-7045 1,371 square feet with 4 UNCLE SI’S NEW SW, bedrooms and 2 baths. $44,900.00, Delivered, Set, Priced at only $110,000. AC, Steps and skirting. Let us show you how to 318-356-9866 buy this home with only Call Bobby BRAND NEW SIN- $500. McIntosh, Broker/Owner GLEWIDE 3B/2B lots of room with open floor-plan. of Realty USA, Inc. today Only $29,995! Won’t last. at 318-354-1200. View photos at www.realtyCall 318-752-4663 usa.net. NEW DOUBLEWIDE only $39,995 delivery For Rent included! Open floor-plan 3B/2B! Only one left. Call 2 BR NICE HOUSE on 318-752-8242 large lot. Not on housing. FOR SALE - MOBILE No pets. Call 352-3692 HOME APPROX. 1200 before 7 p.m. SF w/added gable shingled 2BD/2BA HOME at 404 roof & 2 car carport & Church St $800/mo.; 12x8 storage + 1 yr. old 1BD/1BA home at 836-B 16x12 storage on approx. Woodyard. Call Rhodes 1/4 acre. 3BR, 2 bath, Properties at 318-238-3733 water heater, central AC/H. 2BR, 1 BATH MOBILE 2 yrs. Washer/dryer, refrig- HOME Big corner lot, erator. AS IS, WHERE IS, Breda Town. NO PETS, $30K. 5 minutes from NO HOUSING. 1 year Walmart. 318-332-0029. lease. References required. $475/month. 318-4813031.
Mobile Homes
3 BEDROOM, 1 BATH central air/heat, ref., stove, washer & dryer. Very nice, all wood Brick veneer. Ph. 652-4133. VERY NICE studio apartment. Has all new appliances, including washer & dryer. $650 month, $500 deposit. Call (318) 5720377. 3 BR, 2 1/2 BATH, F U R N I S H E D DOUBLEWIDE Hwy 480 Campti. Central air/ heat/refrigerator/stove/mic rowave/ dishwasher/washer/dryer/ fenced yard/covered patio/ car port/storage building. One year lease. No pets inside. Not on housing. 352-3453 3 BR, 2 BATH mobile home, quiet neighborhood, 1060 Old River Road, off by-pass. Total electric, all appliances, water and Internet included. $600/month, $400 deposit. No pets. Not on Housing. 318-481-4608, 318-3571352. 3 BR, 2 BATH MOBILE Home for rent, w/all appliances, including washer & dryer. $750 a month. Call 318-664-1867 3/4 BR, 2 BATH HOUSE, 1 acre lot, fenced yard, storage shed. $1,050 rent, located Hagewood, Provencal Schools. Call 337-466-1288
3BR/2B MOBILE HOME Oak Grove. Refrigerator/stove/washer/dryer. One year lease. No pets inside. Not on housing. 352-3453 4 BR, 2 BATH DOUBLEWIDE. All appliances. Located in the country on a dead-end street. Has front and back porches, carport, $750/month, $750/deposit. Call 318-470-2906. 4 BR, 2 BATH In excellent condition. Nice neighborhood. New Floors & counter tops. No pets. Call 652-2886 APARTMENT FOR RENT In Frog Pond. Clean and private. Call Latoya any time at 337446-3488 for more information DUPLEX FOR RENT: 2 Br, 2 Bath, Washer/Dryer Connect, carpet & ceramic tile. $700/month: Location: 713 Woodyard Drive Call: 318-527-9122 FOR LEASE 2 BR, 2 Bath, sunroom, Twin Home, Hwy. 494 Natchitoches, River Place Subdivision. Call 318-6632730
FOR LEASE!! Corner of Texas St. & Hwy. 1, approx. 900 - 1450 sq. ft., Office or Retail. Call Connie Moore Brewer Owner/Agent Brian Moore Realty, LLC 318-322-4000. FOR RENT 3 and 4 bedroom homes. Central air/heat. All appliances. Call 318-352-1552 FOR RENT Newer model 2 BR, 1 Bath, mobile home close to NSU, $650/month, $500/deposit. Call 652-0183 or 581-0972 HOUSE FOR RENT 2BR, 1 BATH in Oak Grove. $675/monthly. Pets possible. No Housing/No text. 318-3327875. LIKE NEW 3 BR, 2 Bath, yard service, water, trash, washer, dryer included. Deposit $500, rent $700, Call 318-652-1506 NICE 4 BR, 2 BATH apartment on Silbey Lake. Private parking, garage covered balcony, Great for student and/or Executives. Call Jerry at 318-402-5149
NICE LARGE 4BR, 3 bath Cedar home on large lot, all appliances included, fireplace, large carport with lots of storage in country. $1200 month, $1000 deposit. Call 318427-6986. R E M O D E L E D APARTMENTS- Historic District-Walking distance to NSU and Downtown, central a/c all appliances. Inexpensive utilities. Call Sutton Real Estate 3526267.
Antiques ANTIQUES We buy, sell & trade knives, furniture, collectables, wanted old electric fans, black iron pots, any condition, 512 Front Street. Call 318-4717261
Pets FOR SALE Pygmy Goats males $40 & females $50. Call 354-0001 leave message.
THE NATCHITOCHES TIMES Weekend Edition, February 1-2, 2014
House Shopping? START HERE!
REALTOR
®
Senate passes bill to delay flood insurance premium hike WASHINGTON (AP) – Hundreds of thousands of homeowners in coastal and floodprone areas would win protection from sharply higher federal flood insurance premiums under legislation muscled through the Senate on Thursday after angry constituents inundated Capitol Hill with complaints. The 67-32 vote reflects widespread alarm about changes enacted two years ago to shore up the program’s finances. In many cases the changes produced unexpected, sky-high insurance rates that are unaffordable for many homeowners in flood-prone areas whose insurance has historically been subsidized by the government and other policyholders. “Something is just terribly wrong when homeowners are more worried about raging flood premiums than they are about raging floods,” said Sen. Jeff Merkley, D-Ore. The bill would delay for up to four years huge premium increases that are supposed to phase in next year and beyond under new and updated government flood maps. It also would allow homeowners to pass below-cost policies on to people who buy their homes. People who have recently bought homes and face sharp, immediate jumps in their premiums would see those increases rolled back. Opponents of the bill say it unravels longsought reforms of the flood insurance program, which has required numerous taxpayer bailouts and owes $24 billion to the Treasury Department as a result. “It’s simply irresponsible for the Senate to gut reforms they overwhelmingly adopted just a year and a half ago,” said Steve Ellis, vice president of Taxpayers for Common Sense. He called the bill “an empty, feel-good, four-year delay that will keep people in harm’s way, accelerate the insolvency of the program, increase uncertainty about future rates, and cost taxpayers billions.”
AGENT ALWAYS ON CALL! 760 FRONT STREET Natchitoches, LA Ph: 318- 354-0404 Fx: 318- 354-0405 www.BoltonRealty.com
NEW LISTING!!
225 Douglas- 3Br/2Ba brick on a slab main house and 2BR/1Ba guest house on ap. 3.86 private acres. NEW LISTING!!
300 Ralph- 4Br/2Ba brick house on ap. 1 acre corner lot with shop. New roof, flooring, and compressor in 2012. PERFECT FOR STUDENTS: 531 St. Maurice- Fully remodeled 3 bedroom home. Great floor plan. New stove & dishwasher, granite, and carpet. FRONT STREET CONDO • SALE OR LEASE:
One bedroom one bath with all appliances including washer/dryer, sunroom/office/second bedroom, wet bar in living room, end unit. Call Sharon at 318-652-1330
COME PREVIEW THESE HOMES! Agent on Call-Jeanine Bridges BOLTON REALTY 318-354-0404 Visit us on the web: www.BoltonRealty.com or Email: [email protected]
Janice Bolton - (318)-471-9036 Shanna Braxton - (318)-527-6788 Jeanine Bridges - (318)-663-1372 Chris Manning - (318)-352-5154 Carolyn Aldredge - (318)-352-9959 Peggy Beaudion - (318)-613-2483 Sharon Procell - (318)-652-1330 Juanita Fowler - (318)-663-2223
The measure goes to the GOP-controlled House, where there’s tension between supporters of the Senate approach and top Republicans like Financial Services Committee Chairman Jeb Hensarling, RTexas, who is largely standing behind the 2012 changes. Hensarling spokesman David Popp said the chairman wants “free-market alternatives” to the government-run flood insurance program. But allies of delaying the rate hikes demonstrated in a 281-146 vote last year in the House that they have sweeping support for delaying premium increases. That vote, on an amendment by Rep. Bill Cassidy, was included in this month’s government-wide funding bill. It effectively guarantees a few months relief to those facing increases late this year because of new maps but doesn’t allow people to pass below-market rates on to people who buy their homes. At issue is the government-run flood insurance program, in which taxpayers and other homeowners subsidize below-risk rates paid on older homes in both coastal areas threatened by hurricanes and big storms and inland areas near flood-prone rivers. A sweeping overhaul that passed virtually unanimously in 2012 was designed to make the federal flood insurance program more financially stable and bring insurance rates more in line with the real risk of flooding. The Federal Emergency Management
Agency, supporters of the legislation say, is doing a poor job of producing new, accurate flood maps. The bill also would make it easier for homeowners to challenge faulty maps. “The rates that would be imposed if the law doesn’t get changed will be impossible – not just impractical, impossible,” said Sen. Roger Wicker, R-Miss. “It’s being implemented with faulty data and we need to go back to the drawing board.” Projections of the new rates have caused anxiety among hundreds of thousands of homeowners. The loss of subsidies when homes are sold has put a damper on the real estate market and threatened home values. Some homeowners are snagged in a Catch-22. They face rates that, once phased in, they won’t be able to afford. But because of the higher insurance rates, they also face having to sell their properties at distressed prices. Hours before the final vote, the Senate by an almost 2-1 margin rejected an alternative plan by Sen. Pat Toomey, R-Pa., that would have capped the premium increases on most properties – including homes being sold – at 25 percent per year until the premium reflected the true flood risk. Ten Republicans sided with unanimous Democrats to reject the idea. Thursday’s news was welcomed by homeowners in coastal New Jersey towns and New York City neighborhoods that were battered by Superstorm Sandy. “Most of our homeowners require flood
insurance as a condition of their mortgage,” said Jonathan Gaska, district manager for the community board that represents the Rockaway peninsula and Broad Channel. “And we were afraid that this would just become a ghost town, that people would just give up their homes because they can’t afford it.” The 2012 law has already had a chilling effect on home sales throughout the Rockaways, which is mostly populated by blue-collar workers like police officers and firefighters, Gaska said. Seaside Park, N.J., resident Chuck Appleby’s bayside opted to raise his home by 12 feet, in part because of the threat of exponential increases in flood insurance. “We decided to go up as high as possible,” he said. “That should ensure that we get the lowest insurance rate possible. Resale value is a big concern; there’s a lot of houses for sale around here. Plus, I have kids and I want to know we’ll be safe in the next storm.” But his parents, who live two doors down, restored their house to its pre-storm condition, deciding against raising it. Appleby says his parents cannot believe the insurance hikes will be as bad as feared. “We had a discussion about it the other day,” he said. “My parents said they believe that if it’s going to affect so many people so negatively, there’s no way the government would ever let it happen.”
Is a refinance the right decision? (BPT) - Once at rock bottom, interest rates have ticked up slightly in recent months. Still, the prospect of refinancing a mortgage remains attractive. Interest rates are projected to rise to 5 percent or above by August 2014, according to an August 2013, Freddie Mac study. “The window hasn’t closed, but homeowners should analyze their mortgage situation to see if a refinance can improve their overall financial picture,” says John Young, director of real estate product management at USAA. Mike Fratantoni, vice president of research and economics at the Mortgage Bankers Association, agrees. “When market rates were at 3.5 percent, 90 to 95 percent of outstanding loans would have benefited from a refi,” he says. Now, with mortgage rates at about 4.4 percent, just 25 to 30 percent of homeowners with outstanding loans would come out ahead. Here are some reasons why you should refinance. * Pay off your mortgage early. Moving from a 30-year term to a 15-year term without a big jump in monthly payments could save you thousands in interest and build equity in your home faster. * Create more cash flow. Lower interest rates can create lower
monthly mortgage payments, freeing up money to pay down debt or just to provide more wiggle room in the budget for other things. * Access home equity. On a cash-out refinance, you borrow more money than you owe on your current loan, and use the funds for purposes such as reducing other debt, remodeling your home or just recovering from a financial setback. “As home values start to rise, there is some pent-up demand for a cash-out refinance to access the equity in the home for other purposes,” says Diane Brooks, real estate product management director at USAA. Would refinancing benefit you? Fratantoni puts today’s mortgage holders into three categories: Already refinanced: Those with strong credit, job security and plenty of home equity. These homeowners refinanced in the past few years and secured a rate in the low- to mid-3 percent range. Already refinanced through federal programs: Those people with good credit and employment who lack enough equity to qualify for traditional refinancing. These borrowers only qualify to refinance through federal
Fetch A Great Deal. All the news, sports, features, columns and classifieds— delivered. Call 318-352-3618 for more information on how you can subscribe to...
Natchitoches Times
The
programs such as the Home Affordable Refinance Program, known as HARP, or the Federal Housing Administration’s streamline refinance - both advantageous to a homeowner who owes more on his mortgage than his home is worth. Fratantoni notes that many homeowners who qualify for those programs have refinanced. Current candidates for traditional refinancing: Those who regained their financial footing after a job loss or credit trouble, or who are no longer underwater as home values rise. Do your financial homework, Brooks says. “It’s not just about payment savings. That’s not the whole story.” How quickly will you recoup closing costs - typically between 2 and 5 percent of your loan? How long do you plan to stay in the home? How long are you extending the term? Doing the numbers may not reflect how badly you want more cash flow in your budget or how passionate you are about that kitchen remodel. So even if the numbers aren’t optimal, there could be enough of a financial and emotional boost to justify a mortgage refinance. Just remember, you’re leveraging your home. And a 30-year loan, while having a higher interest rate, can
provide a lower monthly payment that’s more manageable in lean financial times. “On a 30-year loan, you can make a larger monthly payment to pay the loan off in 15 years,” Young says. “If you run into cash flow problems, you can always make the minimum payment. Refinancing for a 15-year loan, while getting you a better interest rate, will also get you a higher minimum payment that must be paid on time.” Before you refinance, ask yourself these questions: * How’s my credit score? A stellar credit score can help you get a good interest rate. * How will I pay my closing costs? Many people roll them into the refinanced loan amount. But saving enough to pay for the closing in cash can make the refinance an even better deal. * Where does my mortgage fit into my family’s financial picture? Consider your overall budget, investments, college savings plan and other financial goals. * If your refinance lowers your monthly payment, what will you do with the extra cash? Many people don’t have a good strategy for this additional monthly savings. Ideally, the payment savings should be applied to other debt or to boost your savings account.
10B
THE NATCHITOCHES TIMES Weekend Edition, February 1-2, 2014
For Sale 2 BR, 1 BATH Mobile Home and Lot for sale. Located 12 Ann Street, Cedar Grove. Call 3570004
Services A+ TREE SERVICE Licensed & Insured *Pruning *Topping * Cabling *Removal *Stump Grinding. 27 years experience with Licensed Arbors on job site! 318402-9303 or 272-6235. DON BOEHLY HANDYMAN - Pressure Wash Odd Jobs. Natchitoches Parish only. (Free Estimates) 318-5272666. GLORIA’S CLEANING SERVICE Houses, trailers, churches, move-in, moveout and any type of commercial cleaning. Mobile 318-471-8491. INDOOR/OUTDOOR BUILDERS L.L.C., Larry Harper. Fencing, remodeling, room additions, ceramic tile,vinyl siding,cement work, drainage installation, general repairs. Phone 4814603 or 352-9192. STEVE’S WASHERS 352-7773. We now repair front load washers & dryers. 15 years experience. P.S. We want your old appliances.
JOHNSON’S PAINTING & REMODELING Painting, carpentry & pressure cleaning. Repair, paint & beautify your home today. Free Estimates. Please call 352-8923 JTD CONSTRUCTION, LLC for your small remodeling jobs. Free estimates for bath, kitchen, deck, and driveway and more. Call Jim Davis, contractor 318332-9927 or after 5:00 pm 318-352-4361. Licensed and insured. I change out old windows and install new aluminum windows. MARVIN’S REMODELING - Painting, vinyl siding, leveling, foundation work, gutter work. Honest and dependable. Phone 318-228-4320 or 318-7270442. TARVER’S FLOORS & MORE One Call Does It All. Carpet, wood, laminate, ceramic, drywall, painting and more. Call 318-3799961 for free estimates. WILSHIRE WOODWORKS: From design through installation, your local full service source for kitchen and bath cabinets, closets, custom furniture, counter tops, and more. 5206 Hwy 1 North, next to the bowling alley. 318-3542175
NEW AND USED MOBILE HOMES! Largest selection in the 14X72 2BR 2BATH SW ARK-LA-TEX! Let us $6000.00 home only. 318- show you how easy home356-9866 ownership can be. Call 28x50 3br 2bath DW now 318-752-8243 $29,900.00 Delivered and Real Estate set. 318-238-6898 REPO on land in 205 KELLY Newly renoMansfield, financing avail- vated, this brick home has able. 318-356-7045 1,371 square feet with 4 UNCLE SI’S NEW SW, bedrooms and 2 baths. $44,900.00, Delivered, Set, Priced at only $110,000. AC, Steps and skirting. Let us show you how to 318-356-9866 buy this home with only Call Bobby BRAND NEW SIN- $500. McIntosh, Broker/Owner GLEWIDE 3B/2B lots of room with open floor-plan. of Realty USA, Inc. today Only $29,995! Won’t last. at 318-354-1200. View photos at www.realtyCall 318-752-4663 usa.net. NEW DOUBLEWIDE only $39,995 delivery For Rent included! Open floor-plan 3B/2B! Only one left. Call 2 BR NICE HOUSE on 318-752-8242 large lot. Not on housing. FOR SALE - MOBILE No pets. Call 352-3692 HOME APPROX. 1200 before 7 p.m. SF w/added gable shingled 2BD/2BA HOME at 404 roof & 2 car carport & Church St $800/mo.; 12x8 storage + 1 yr. old 1BD/1BA home at 836-B 16x12 storage on approx. Woodyard. Call Rhodes 1/4 acre. 3BR, 2 bath, Properties at 318-238-3733 water heater, central AC/H. 2BR, 1 BATH MOBILE 2 yrs. Washer/dryer, refrig- HOME Big corner lot, erator. AS IS, WHERE IS, Breda Town. NO PETS, $30K. 5 minutes from NO HOUSING. 1 year Walmart. 318-332-0029. lease. References required. $475/month. 318-4813031.
Mobile Homes
3 BEDROOM, 1 BATH central air/heat, ref., stove, washer & dryer. Very nice, all wood Brick veneer. Ph. 652-4133. VERY NICE studio apartment. Has all new appliances, including washer & dryer. $650 month, $500 deposit. Call (318) 5720377. 3 BR, 2 1/2 BATH, F U R N I S H E D DOUBLEWIDE Hwy 480 Campti. Central air/ heat/refrigerator/stove/mic rowave/ dishwasher/washer/dryer/ fenced yard/covered patio/ car port/storage building. One year lease. No pets inside. Not on housing. 352-3453 3 BR, 2 BATH mobile home, quiet neighborhood, 1060 Old River Road, off by-pass. Total electric, all appliances, water and Internet included. $600/month, $400 deposit. No pets. Not on Housing. 318-481-4608, 318-3571352. 3 BR, 2 BATH MOBILE Home for rent, w/all appliances, including washer & dryer. $750 a month. Call 318-664-1867 3/4 BR, 2 BATH HOUSE, 1 acre lot, fenced yard, storage shed. $1,050 rent, located Hagewood, Provencal Schools. Call 337-466-1288
3BR/2B MOBILE HOME Oak Grove. Refrigerator/stove/washer/dryer. One year lease. No pets inside. Not on housing. 352-3453 4 BR, 2 BATH DOUBLEWIDE. All appliances. Located in the country on a dead-end street. Has front and back porches, carport, $750/month, $750/deposit. Call 318-470-2906. 4 BR, 2 BATH In excellent condition. Nice neighborhood. New Floors & counter tops. No pets. Call 652-2886 APARTMENT FOR RENT In Frog Pond. Clean and private. Call Latoya any time at 337446-3488 for more information DUPLEX FOR RENT: 2 Br, 2 Bath, Washer/Dryer Connect, carpet & ceramic tile. $700/month: Location: 713 Woodyard Drive Call: 318-527-9122 FOR LEASE 2 BR, 2 Bath, sunroom, Twin Home, Hwy. 494 Natchitoches, River Place Subdivision. Call 318-6632730
FOR LEASE!! Corner of Texas St. & Hwy. 1, approx. 900 - 1450 sq. ft., Office or Retail. Call Connie Moore Brewer Owner/Agent Brian Moore Realty, LLC 318-322-4000. FOR RENT 3 and 4 bedroom homes. Central air/heat. All appliances. Call 318-352-1552 FOR RENT Newer model 2 BR, 1 Bath, mobile home close to NSU, $650/month, $500/deposit. Call 652-0183 or 581-0972 HOUSE FOR RENT 2BR, 1 BATH in Oak Grove. $675/monthly. Pets possible. No Housing/No text. 318-3327875. LIKE NEW 3 BR, 2 Bath, yard service, water, trash, washer, dryer included. Deposit $500, rent $700, Call 318-652-1506 NICE 4 BR, 2 BATH apartment on Silbey Lake. Private parking, garage covered balcony, Great for student and/or Executives. Call Jerry at 318-402-5149
NICE LARGE 4BR, 3 bath Cedar home on large lot, all appliances included, fireplace, large carport with lots of storage in country. $1200 month, $1000 deposit. Call 318427-6986. R E M O D E L E D APARTMENTS- Historic District-Walking distance to NSU and Downtown, central a/c all appliances. Inexpensive utilities. Call Sutton Real Estate 3526267.
Antiques ANTIQUES We buy, sell & trade knives, furniture, collectables, wanted old electric fans, black iron pots, any condition, 512 Front Street. Call 318-4717261
Pets FOR SALE Pygmy Goats males $40 & females $50. Call 354-0001 leave message.
