Your Home, Insurance, and Your Financial Exposure

Are you financially exposed?

Many people realize the need for life insurance but keep putting it off until it is too late. You may think that life insurance is confusing, expensive and complicated. You may think you don’t know enough to make the right decisions for you and your loved ones. Postponing this decision leaves you and your family exposed financially.

Assumption #1: I’ll always be able to buy life insurance.

     You could develop a health condition that makes you uninsurable or could make life insurance too costly for you.

Assumption #2: I’ll get life insurance later when I’m older or have a family.

     Life insurance may be needed at all stages of life. Whether married or single, male or female, with children or without, you may have financial obligations that need to be met. Life insurance provides financial security for you and your loved ones.

Assumption #3: My family and I are covered by the group insurance at work.

     To meet the future needs of your family, you need to have 7 to 10 times your annual income. Most group term insurance amounts offered by employers won’t meet this need. And, when you don’t work for that employer any longer, you usually lose that coverage.

Assumption #4: My husband has life insurance so I don’t need it.

     Women often live longer than men but not always. There are countless stories of men who had to shoulder the family financial burden after their wife passed away.

Assumption #5: My family can cover funeral and burial expenses.

     Burying a spouse or loved one is the most stressful time in a family’s life. Having life insurance can reduce financial concerns for the family.

Take the time now to review your needs and provide adequately for yourself and your family.

Article submitted by Brennan Purdy of State Farm Insurance

My vision is to be an insurance professional whose actions are driven by keeping the customer's best interest as my primary goal. My staff will treat all my customers in a caring, friendly, and professional manner. My office will provide warm, efficient, and seamless services to our customers at all times. I expect my business to be comprised of knowledgeable, multiple-line customers who see my office as their first and best choice for all their insurance and financial service needs

For more information on these and other home safety tips, stop by my office or visit www.brennanpurdy.com. My office is conveniently located in downtown Bethel. 203-798-7300.                   211 Greenwood Avenue , Bethel, CT 06801

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

Connecticut Financing Update and Today's Mortgage Rates 3/12/12

As is sometimes the case on Monday's, market movements and changes in Mortgages Rates are fairly subdued to begin the week.  Mortgage rates are so subdued, in fact, that they're completely unchanged from Friday's levels.  While some lenders may be offering slightly lower or higher costs, the average of all the lenders we survey resulted in the exact same Best-Execution 30yr Fixed Rate.   

Although Friday marked a noticeable improvement over Thursday, overall, rates remain near the weaker end of their February range with plenty of lenders still offering 4.0% as a Best-Execution rate despite the return of 3.875% offerings from the market leaders.

Today may have been a non-event in terms of rates volatility, but the rest of the week might not be.  The Employment Situation Report on Friday is always one of the most important events of any given month for markets.  If the report shows stronger than expected job creation, the default response for MBS (the "mortgage-backed-securities" that most directly influence lender's rates) would be to weaken, thus suggesting higher rates (this dynamic isn't a hard and fast rule, but is generally true, and more reliably so the farther away the data reports from the expectations).

The other key event will be the deadline for Greece's private sector bond swap.  To oversimplify, EU officials have already decided how much of a loss will be taken by any of Greece's private sector investors (banks, insurance funds, investment firms, etc...) that decide to participate in the so-called swap (investors would swap out current bonds for the less lucrative ones, thus taking a "haircut").  If a sufficient percentage of investors acquiesce to the haircuts by Thursday, it's a net-positive for Greece and the Euro-zone, and likely another challenge for longer term rates in the US.

Today's BEST-EXECUTION Rates

30-year fixed-3.875% APR-3.924% 0 points
20 year fixed-3.625 APR-3.692% 0 points
15 year fixed-3.250% APR-3.333% 0 points
10 year fixed-3.00% APR-3.123% 0 points
5/1 ARM-2.625% APR-3.091% 0 points
7/1 ARM-2.875% APR-3.127% 0 points

FHA
30 year fixed-3.750% APR-4.659% 0 points
15 year fixed-2.875% APR-3.319% 0 points

Jumbo- over $576,000 (Fairfield County)
30 year fixed-4.000% APR 4.117% 0 points
15 year fixed-3.500% APR 3.574% 0 points
5/1 ARM-3.125% APR 3.419% 0 points

 

Pat Leary is  a mortgage banker with over 12 years experience as a lending specialist in Connecticut. Her passion is to guide her clients through the mortgage process. Pat takes pride on providing great customer service, through communication, trust and integrity, and strives to offer the best mortgage products and service in the industry. We're confident that you will receive the personal attention that you deserve. As a leading Mortgage Banker in Connecticut, Pat  is responsible for structuring your financing with the expertise to answer any questions you may have on rates, fees and products.

Pat Leary

NMLS #99279
Atlantic Home Loans
830 Post Road East

Westport CT 06880
203-645-1037 cell
203-691-9788 ext 226
1-203-413-5647 fax

Negotiating in Good Faith. Always Put Your Best (and Honest) Foot Forward.

When it comes time to put in an offer on a home, whether it's a purchase or a rental, always submit your offer in good faith.

Too many times, others do not negotiate in good faith, return calls or emails  as promptly as you or your agent do, and may have hidden agendas as to why they are hedging on accepting your offer, or even counter-offering your bid, and  to top it all off, you may not ever find out what their reasons are.

Recently,  I had a client who placed an offer in on a property where it appeared that the listing agent and owner did not negotiate in good faith, and as upsetting as that may be, it can happen. It's very unfortunate, but you must remember that not everyone operates with the same high principles that you do.

Certainly more often than such is the case, availability is misrepresented, and/or the presence of offers that are "on the table" is communicated to you or your agent in an effort to get you to adjust your price or terms. Sometimes the homeowner "hedges" or bides their time with your offer,  and there is no way of telling what is truly accurate and what is not. Sellers can also change their mind about selling or renting at the drop of a hat. You just have to go by your gut feeling. If you or your agent sense this type waffling is happening, or that there are no other offers that have been, or  just been submitted, proceed with caution, and always have a "Plan B".

Choosing The Best Door Lock For Your Home in Connecticut

Taking the time to research and install the best door lock for your home can help provide a first line of safety for your family members and personal belongings.

Professional locksmiths can assist you in evaluating your lock’s security, as can members of your local police department. These professionals have seen firsthand what works and what doesn’t, so consider taking advantage of their experience and expertise when choosing the best door locks for your home.

Research Your Options

Some locks commercially available at hardware stores have been graded according to standards developed by the American National Standards Institute (ANSI) and the Builders Hardware Manufacturers Association (BHMA). Product grades can range from Grade One through Grade Three, with one being the highest in terms of function and material integrity. Visit the BHMA website to research a lock you intend to purchase and see how it stacks up to its competitors.
Also, remember some locks include strike plates that include extra-long three-inch screws for added protection against force. If your locks don’t come with them, other bolstering options for strike plates are available at your local hardware store.
Doorjamb reinforcement kits are also available, and can be retrofit into the existing doorjamb to reinforce key strike points (hinges, strike, and the door edge). The reinforcement plates are typically made of galvanized steel and installed with 3.5-inch screws. Adding doorjamb reinforcement significantly increases the strength of the door system. Be sure to follow the manufacturer’s recommendations for the length of the screws going into your doorframe.

Spring Latch (or Slip Bolt) Locks

These locks provide minimal security, but are the least expensive and easiest to install. They work by locking the doorknob of the door, thus preventing the release of a spring-loaded latch that fits into the doorframe.
However, this type of lock is vulnerable in several ways. Devices other than the properly fitting key can be used to release the pressure keeping the spring in place, allowing for release of the bolt for burglars. More forceful intruders can smash the doorknob and lock from the door with a hammer or wrench. A protective metal plate to reinforce the wood around the doorknob is recommended to prevent this.

Deadbolt Locks

The deadbolt lock works by effectively bolting the door into its frame. The bolt is “dead” in that it has to be manually moved in and out of place by means of a key or knob. There are three basic parts of deadbolt lock: a key-accessible outside cylinder, the “throw” (or bolt) which slides in and out of the door jamb, and the thumb-turn, which allows for manual control of the bolt from the inside of the home. A standard horizontal throw extends one inch beyond the edge of the door and into the jamb. All deadbolt locks should be made of solid steel, bronze, or brass; die-cast materials are not fashioned for great impact and could break apart.
The principal weakness of any horizontal deadbolt lock is that it is possible for an intruder to pry the door apart from the jamb or its strike plate in the jamb to disengage the throw. This can be remedied with a vertical (or surface-mounted) deadbolt, which resists the separation of lock from jamb. The throw of a vertical deadbolt engages by interlocking with a set of cast metal rings affixed to the frame of the door. The rings surrounding the bolt make this lock essentially pry-proof.
In the instance of a door containing glass panes, a double-cylinder deadbolt might be employed. This particular type of deadbolt lock requires a key to unlock the bolt from both the outside and inside of the home – so a potential thief cannot simply break through the glass, reach inside, and manually unlatch the thumb-turn in order to unlock the door. However, some fire safety and building codes forbid the installation of locks that require keys to open from the inside, so consult with a contractor or locksmith in your area before installing one. Consider alternatives to the potentially hazardous double cylinder deadbolt. Try installing a supplemental lock that is completely out of arm's reach (either at the top or flush to the bottom of a door); security glazing; or impact-resistant glass panels.

It’s important to remember that no lock is 100 percent guaranteed to deter or keep out all intruders. However, you can greatly reduce the likelihood of intruders by making sure that all exterior doors are fitted with some form of deadbolt locks and strike plates, and that you are diligent in using these locks while at home and away.

Article submitted by Brennan Purdy of State Farm Insurance

My vision is to be an insurance professional whose actions are driven by keeping the customer's best interest as my primary goal. My staff will treat all my customers in a caring, friendly, and professional manner. My office will provide warm, efficient, and seamless services to our customers at all times. I expect my business to be comprised of knowledgeable, multiple-line customers who see my office as their first and best choice for all their insurance and financial service needs

For more information on these and other home safety tips, stop by my office or visit www.brennanpurdy.com. My office is conveniently located in downtown Bethel. 203-798-7300.                   211 Greenwood Avenue , Bethel, CT 06801

And a note From Judy: If you have a question about buying or selling Real Estate in Fairfield County, and are in need of an Realtor to represent you, I invite you to contact me, and if you have an idea for a topic that you would like to see on The CT Realty Blog, please include it in the "Post a Comment" section link below this post. We appreciate the feedback and look forward to providing you with the best real estate content, advice and service in Fairfield County, Connecticut.

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