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Apache is functioning normally

September 27, 2023 by Brett Tams
Apache is functioning normally

“U.S. home prices continued to rally in July 2023,” Craig Lazzara, managing director at S&P DJI, said. “Our National Composite rose by 0.6% in July, and now stands 1.0% above its year-ago level. Our 10- and 20-City Composites each also rose in July 2023, and likewise stand slightly above their July 2022 levels.”

“Although the market’s gains could be truncated by increases in mortgage rates or by general economic weakness, the breadth and strength of this month’s report are consistent with an optimistic view of future results,” Lazzara added.

In July, prices rose in all 20 cities after seasonal adjustment, and in 19 of them before adjustment. 

Chicago (+4.4%), Cleveland (+4.0%) and New York (+3.8%) posted the largest price gains on a year-over-year basis, repeating the ranking we saw in May and June.

At the other end of the scale, the worst performers were Las Vegas (-7.2%) and Phoenix (-6.6%).

The Midwest (+3.2%) continued as the nation’s strongest region, followed by the Northeast (+2.3%). The West (-3.8%) and Southwest (-3.6%) remained the weakest regions.

“The Case Shiller index indicates that the typical home price in July 2023 is about 45% higher than it was four years ago in July 2019,” said Bright MLS Chief Economist Lisa Sturtevant. “This is about the same rate of price growth that occurred during the 2002 through 2006 period when subprime lending drove exuberant housing demand. 

“But that is where the similarities end. Today’s housing market is very different from the one that led up to the 2008 financial crisis and ultimately a 20 to 40% home price correction. Inventory is still very low by historic standards and buyers who are able to handle higher mortgage rates are still finding the market very competitive. Mortgage holders are well-qualified and subprime loans are rare. Housing equity is at an all-time high, providing homeowners a very deep cushion against a downturn. Demand is strong, driven by the large millennial population that is in prime first-time homebuying age.”

The rental market has offered a more extended break in pricing

Indeed, rents dipped for a fourth month compared to a year ago, Hale said. However, the cumulative drop in rents remains relatively modest nationwide, only down 2% from the peak. Furthermore, regional trends vary, with some markets still seeing relatively robust rental growth. Meanwhile, a record-high number of multi-family units are on the way, which will provide some relief over the next several months, even as multi-family starts slow, Hale concluded.

Source: housingwire.com

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Apache is functioning normally

September 25, 2023 by Brett Tams
Apache is functioning normally

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a series of legal requirements lenders must adhere to when using artificial intelligence (AI) or “other complex models” when making decisions about the creditworthiness of borrowers.

“The guidance describes how lenders must use specific and accurate reasons when taking adverse actions against consumers,” the CFPB said in the announcement. “This means that creditors cannot simply use CFPB sample adverse action forms and checklists if they do not reflect the actual reason for the denial of credit or a change of credit conditions.

Requirements like these become “especially important” due to the evolving pace of using advanced algorithms and personal consumer data in consumer credit underwriting, the Bureau said. Explaining why certain actions are taken will also improve consumers’ future chances for credit while protecting against illegal discrimination.

“Technology marketed as artificial intelligence is expanding the data used for lending decisions, and also growing the list of potential reasons for why credit is denied,” said CFPB Director Rohit Chopra in a statement. “Creditors must be able to specifically explain their reasons for denial. There is no special exemption for artificial intelligence.”

In the consumer credit marketplace, the use of advanced algorithms often marketed as “artificial intelligence” is increasing. AI and other predictive decision-making technologies are increasingly being intertwined with underwriting models, the Bureau said.

“Creditors often feed these complex algorithms with large datasets, sometimes including data that may be harvested from consumer surveillance,” the announcement explained. “As a result, a consumer may be denied credit for reasons they may not consider particularly relevant to their finances.”

Certain creditors may also “inappropriately rely on a checklist of reasons provided in CFPB sample forms,” but the Equal Credit Opportunity Act (ECOA) does not permit creditors to “simply conduct check-the-box exercises when delivering notices of adverse action if doing so fails to accurately inform consumers why adverse actions were taken,” the Bureau said.

A circular published in 2022 detailed that ECOA requires creditors to “explain the specific reasons for taking adverse actions,” a requirement that remains in force even if such companies “use complex algorithms and black-box credit models that make it difficult to identify those reasons.”

The guidance handed down on Tuesday expands on the perspective shared in that 2022 circular by explaining that “sample adverse action checklists should not be considered exhaustive, nor do they automatically cover a creditor’s legal requirements.”

Reasons for “adverse actions” such as credit denials must be specific and avoid the generalities that may arise from the sample language previously provided by the CFPB. Failure to provide enough detail about a particular decision and instead rely on a “broad bucket” remains just as applicable for advanced algorithms as anything or anyone else.

“Creditors must disclose the specific reasons, even if consumers may be surprised, upset, or angered to learn their credit applications were being graded on data that may not intuitively relate to their finances,” the CFPB said.

Source: housingwire.com

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Apache is functioning normally

September 23, 2023 by Brett Tams
Apache is functioning normally

PARSIPPANY, N.J., September 19, 2023–(BUSINESS WIRE)–In an ever-evolving mortgage lending landscape, NON-QM mortgage loans are emerging as the industry’s future, providing opportunities for a wider range of borrowers to achieve their homeownership and investment goals. Stratton Equities, the Leading Nationwide Private Money and NON-QM Mortgage Lender, has been at the forefront of this revolution for the past six years, setting the pace for other companies to follow.

NON-QM mortgage loans, short for non-qualified mortgage loans, have gained significant traction in recent years as a viable alternative to traditional QM (qualified mortgage) mortgage loans, which come with stringent government regulations and eligibility criteria. Recent statistics reveal that only a small percentage of Americans qualify for QM loans due to these stringent requirements.

According to industry data, the demand for NON-QM mortgage loans has steadily increased yearly, with a notable surge in the past few years. In 2022 alone, NON-QM loans accounted for a significant portion of the mortgage market, surpassing expectations. It has been estimated that one in four loans will go NON-QM in the near future.

Stratton Equities recognized the potential of NON-QM loans six years ago, positioning themselves as pioneers in private money lending, specifically NON-QM mortgage loans. This early recognition of market trends has been the cornerstone of their continued success.

Michael Mikhail, CEO and Founder of Stratton Equities, emphasized their focus on generating NON-QM leads and their commitment to offering a wide range of lending programs, including NON-QM, DSCR, Hard Money, and No-Doc Loans. He stated, “Our aim has always been to provide solutions that cater to a broader spectrum of borrowers. Stratton Equities had the foresight six years ago to recognize the market’s direction, which is why we were at the forefront of NON-QM mortgage lending. This serves as a foundation for our continued success.”

NON-QM mortgage loans are designed to serve most Americans who do not meet the strict eligibility criteria of QM loans. These loans facilitate home ownership, second home ownership, and investment properties, allowing income generation and wealth building for a more diverse range of borrowers. Contrary to misconceptions, NON-QM mortgage loans often offer competitive rates, making them attractive.

Traditional lenders like banks and credit unions primarily offer QM loans for one-to-four-family investment properties. However, these loans have heavy documentation requirements and lower loan-to-value (LTV) ratios, typically capping at 70%. Stratton Equities stands out by providing NON-QM mortgage loans for such properties with easier qualifications, lower documentation requirements, and higher LTV ratios, currently at 80%.

Stratton Equities also recommends closing within an LLC for investment properties due to tax and security advantages. Despite some lingering stigma associated with NON-QM mortgage loans, they often result in lower rates, higher LTVs, and streamlined documentation, making them a practical choice for borrowers.

Educating borrowers about the advantages of NON-QM mortgage loans and dispelling misconceptions is vital. Stratton Equities is committed to leading the way in providing these beneficial lending options and believes in the potential for growth and success in this market. Their loan officers benefit from the advantages offered by the company, including a consistent stream of leads, as exemplified by recent hires who have quickly achieved success within the organization.

Stratton Equities invites individuals and investors to explore the world of NON-QM mortgage loans and discover the possibilities for achieving their financial goals. For more information, please visit www.strattonequities.com.

For more information about Stratton Equities, please visit their website at https://www.strattonequities.com. Follow Stratton Equities on social media on Instagram, Facebook, and YouTube @StrattonEquities, LinkedIn @stratton-equities, and Twitter @Strattonequity.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230918013297/en/

Contacts

Kelly Bennett, Director of PR
Stratton Equities
[email protected]
(949) 463-6383

Source: finance.yahoo.com

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Apache is functioning normally

September 23, 2023 by Brett Tams
Apache is functioning normally

The Halloween spirit began to possess Goodwill Southern California back in August.

In Lincoln Heights, a creepy doll with blood-red tears and a stuffed animal in a Grim Reaper cloak posed amongst the seasonal tchotchkes. At the regional flagship store in Glassell Park, a witch and a flapper were amongst the mannequins dressed in their Halloween party finest to welcome shoppers.

“Halloween is like Christmas for us,” says Marla Eby, director of marketing and media relations for Goodwill Southern California, which covers Los Angeles County north of Rosecrans, as well as Riverside and San Bernardino counties.

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While seasonal items might pop up at one of the 80+ stores in Goodwill Southern California’s territory throughout the year, staffers often save Halloween donations for the two months leading up to the holiday. It’s a popular spot for costume shopping; in fact, that’s the focus of Goodwill Southern California’s September and October lookbooks. But like most thrift, vintage and antique shops, it’s also a great place to source decorations. As we toured the Glassell Park facility, I spotted a small chandelier, a smattering of goblets and an ornate mirror amongst the Halloween merchandise.

There are a lot of benefits to shopping secondhand for Halloween decorations. Choosing a pre-owned item over something new is an environmentally friendly option since you’re extending the lifespan of a good and potentially saving it from a landfill. Depending on when, where and how you shop, it can be easier on your wallet, too. But perhaps the most attractive benefit of shopping secondhand is the knowledge that you’ll find something far more interesting than the seasonal products at big box stores.

“They’re a statement piece,” says Chuck Garcera, who co-owns King Richard’s Antique Center in Whittier. “It’s exciting because it’s broken-in. It’s got some character.”

At King Richard’s, where more than 140 dealers occupy 302 spaces in the four-story complex, the Halloween season starts around mid-September. However, some vendors, like Creep & Kitsch, located downstairs from the main floor, offer spooky items all year. On a trip to King Richard’s in August, I came across potential Halloween decorations throughout the market, including a Wigglin’ Hand, a painting of a skull surrounded by candles and even a prop electric chair.

But shopping secondhand for Halloween can be tricky. If this is your favorite holiday, you might be on the lookout for themed goods all year. If not, know that you should start your shopping early. “Now is the time to shop because I promise, the closer it gets to Halloween, the more treasure hunting you have to do,” says Eby.

If you’re working with a small budget, Goodwill Southern California has a plenty of affordable options, including monthly coupons for those who sign up to their email list and discounts for military, seniors and students. They also have color tag sales. When you’re shopping, you’ll probably notice that the tags are coded in various colors. Each week, one of those colors is half-off. On Thursdays, a designated color tag will be sold for $1.99. “It’s a really great way to save,” says Eby.

This is also a good option for those who like to reimagine secondhand items for Halloween. Eby points to a recent social media trend where people paint spooky images on existing artwork. You can find base pieces for these projects amongst the home decor at Goodwill.

For those with a larger budget or who want items that can hang around the house long after October 31, vintage and antique shops might be the best option. Your choices here aren’t just the ones that scream Halloween. Vintage horror movie posters and memorabilia, memento mori and home items with a Victorian look are just a few things that can take you through the spooky season and beyond.

Wherever you shop, look beyond the designated Halloween displays. Pick up horror movies on VHS, DVD or Blu-Ray to play in the background at parties. Seek worn books, particularly ones with creepy cover illustrations, that can be used as coffee table decorations. Thrift clothes and accessories to outfit any prop witches and creatures you might be building. Look for old dolls and toys to reappropriate as Halloween decorations. Sift through photographs, film slides and postcards, which can be used in a variety of different projects.

Whether you are thrifting or antiquing, you should use the same plan. Note the best shopping options in your area, including both brick-and-mortar stores and events like flea markets. Make time to shop and break up the excursions over a period of weeks if that’s easiest on your schedule.

Be sure to shop with an open mind. You never know what you’ll find inside a thrift store or an antique shop. The most important advice, though, is to be prepared to buy what you love when you see it.

Says Garcera, “It’s like we tell customers, if you see something at an antique store, you better buy it now. It might not be there tomorrow.”

Source: sandiegouniontribune.com

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Apache is functioning normally

September 22, 2023 by Brett Tams

HSBC and NatWest cut mortgage rates again as rivals tipped to follow

Decision will ease some pressure on UK homebuyers and people seeking remortgage deals

HSBC and NatWest have announced a fresh round of mortgage rate cuts and Britain’s remaining large lenders are expected to follow suit in a move that will ease some of the pressure on hard-pressed Britons.

HSBC said it was cutting rates across many of its new fixed products – including some of its first-time buyer, home mover and remortgage deals – with effect from Tuesday, when full details of the reductions will be published.

Third of UK mortgage holders ‘do not think they will pay it off by 65’Read more

Fellow high street lender NatWest said it would also be cutting rates from Tuesday.

The latest reductions will improve conditions for homebuyers and those looking to remortgage on to a new deal.

NatWest announced reductions of up to 0.35 percentage points on selected fixed deals. A five-year fixed rate deal aimed at homebuyers with a 5% deposit that is currently priced at 6.39% will result in its rate being cut to 6.04% at the bank.

Mortgage costs had been rising relentlessly for months but UK lenders have been reducing their rates since the second half of July after it emerged that UK inflation fell further than expected in June, prompting speculation that the Bank of England would not raise interest rates by as much as previously expected. The Bank’s base rate is 5.25% after an increase from 5% in August.

Nicholas Mendes​, a mortgage technical manager at the broker John Charcol, said HSBC had “laid down the gauntlet and shown they mean business … This is their second rate reduction in a week, along with criteria changes which extend terms to 40 years.”

Accord Mortgages, part of Yorkshire Building Society, also said that all of its fixed rates were being cut by 0.20 percentage points from Tuesday.

Last week, Nationwide Building Society reduced some of its fixed and tracker rates by up to 0.15 percentage points.

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Stephen Perkins, the managing director of the broker firm Yellow Brick Mortgages, said: “All these rate reductions are starting to feel like an avalanche … No doubt there will be more of these reductions over the week, as all lenders follow in a conga line.”

Lewis Shaw, the owner of the broker Shaw Financial Services, said that with NatWest following hot on the heels of HSBC, “There’s every chance we could see the remaining big four [Lloyds Banking Group, Barclays, Nationwide and Santander] come to the party this week, too.

“It would appear that lenders are struggling to get new business, and the rate tap is the only tool they can turn to.”

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Source: theguardian.com

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Apache is functioning normally

September 22, 2023 by Brett Tams
Apache is functioning normally

The Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021.

Andrew Kelly | Reuters

The Biden administration wants to remove medical debt completely from consumer credit reports, so the Consumer Financial Protection Bureau on Thursday outlined its proposed rules to keep unpaid medical bills from affecting patient’s credit scores.

One in 5 Americans have medical debt on their credit reports, according to the CFPB. Medical debt can lead to a debt spiral for some consumers and narrow their options for housing, loans and credit cards.

“We know credit scores determine whether a person can have economic health and wealth,” said Vice President Kamala Harris. “Credit scores determine whether a person can buy a home, whether they can buy a car, rent an apartment, or own a small business.”

Medical debt is the most common debt in collection. The CFPB found that 58% of all third-party debt collection on consumer credit reports was for medical bills. The complexity of medical billing also makes it prone to errors. One study from the Medical Billing Advocates of America estimates up to 80% of medical bills have mistakes. 

“These bills, even ones where the patient doesn’t owe anything further, can end up being reported on the patient’s credit report,” said Rohit Chopra, director of the CFPB, “and millions of people have spent millions of hours disputing these errors, often while dealing with serious illness.”

The CFPB outlined proposals to prohibit consumer reporting companies such as Equifax, TransUnion and Experian from including medical debts and collection information on consumer credit reports. As of July 2022, the companies no longer include medical debt in collection under $500 on credit reports. New rules would make that voluntary approach mandatory and extend to all medical debt.

The agency also wants to stop creditors from relying on medical bills for underwriting decisions, to ensure that only non-medical information is used when considering a borrowers’ loan application.

Vantage Score no longer uses medical debt or medical collection in its credit score calculation, and newer FICO score models put less weight on that information. 

“If credit bureaus are pulling off much of this information already because it isn’t a good predictor of risk, why should creditors see your medical bills at all?” said Chopra. “And if creditors don’t need to see your medical-billing history, why are we continuing to allow debt collectors to use credit reports to pressure people into paying questionable bills at all?”

The rulemaking process takes time; CFPB officials expect to issue a formal rule sometime next year.

“It is unfortunate that the CFPB and the White House are not considering the hosts of consequences that will result if medical providers are singled out in their billing compared to other professions or industries,” Scott Purcell, CEO of debt collection industry group ACA International, said in a statement.

Sen. Elizabeth Warren, D-Mass., a vocal supporter of the CFPB, praised the announcement Thursday.

“Vice President Harris is leading the fight to lower costs for hardworking Americans by addressing the burden of medical debt,” Warren said. “No one should have their credit ruined because of a medical emergency. By proposing to erase medical debt from credit reports, the CFPB is doing what the consumer agency does best: saving Americans money.”

— CNBC’s Chelsey Cox contributed to this story.

Source: cnbc.com

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Apache is functioning normally

September 22, 2023 by Brett Tams
Apache is functioning normally

Witness the pinnacle of opulence, ingenuity, and artistic brilliance as Kohler, the global frontrunner in kitchen and bath solutions, introduces its highly anticipated third Experience Centre in India on August 11. Nestled in the vibrant heart of Bengaluru, at Trinity Circle on MG Road, the Kohler Experience Centre (KEC) sprawls across an expansive 10,000 sq. ft, promising an unparalleled wellspring of inspiration for elevating bath space decor, where luxury transcends boundaries. Serving as a haven of immersive encounters, the KEC beckons architects, designers, and consumers alike to engage with products, exchange creative ideas, and embark on personalized ventures imbued with their unique aesthetic sensibilities.

David Kohler, Chair and CEO of Kohler Co, expressed, “KEC Bengaluru marks the third installment in India and the thirteenth globally, underscoring our unwavering dedication to providing extraordinary experiences for our esteemed customers in India. As we celebrate our 150th anniversary, we remain committed to serving our customers through targeted investments, robust distribution, and the offering of distinctive products tailored for India. We eagerly anticipate welcoming the creative community to explore and draw inspiration from the boundless possibilities of transforming their spaces into havens of style, functionality, and unparalleled quality.“

Salil Sadanandan, President of K&B South Asia and Asia Pacific at Kohler, further elaborated, “At the Kohler Experience Centre, innovation, design, and craftsmanship converge to craft a unique encounter. We are confident that this new space will become a realm of luxurious indulgence and synonymous with refined living. It will empower our consumers to explore an array of cutting-edge solutions for bath spaces, meticulously customized to resonate with their design preferences.“

The KEC bears exceptional significance as it breathes life into Kohler’s 150th-anniversary celebrations under the theme of “Come All Creators.” Beyond showcasing captivating creations from artistic collaborations with talents spanning India, the USA, Brazil, and China, the center features five inspirational suites envisioned by renowned Indian and international architects: Talati and Partners LLP, DSP Design associates, Miaja Design Group, Fab Designs, and Venkataramanan Associates. These suites are meticulously conceived to display the limitless possibilities in luxury bathrooms, each presenting Kohler’s finest products within a distinctive thematic context.

Vishal Chadha, Managing Director of K&B for India and South Asia at Kohler, enthused, “We are genuinely thrilled to unveil the doors to this distinctive space, where Art, Technology, and premium bath products harmoniously merge. Through the Experience Centre, our vision is to inspire consumers and empower them to transform their dreams into reality.“

The Bengaluru-based KEC proudly showcases a series of artist-edition sinks, reflecting Kohler’s dedication to collaborating with artists and infusing artistry into their products. These handcrafted decorative sinks transcend mere aesthetic appeal; they are meticulously crafted from premium materials and draw inspiration from cultures and heritage across the globe, rendering them as distinct as their homeowners. Notable mentions include “Aranya” and “Quila” by Pushpa Kumari and Padma Shri Jai Prakash, respectively, showcasing Mithila and Miniature painting styles, leaving an indelible mark at the forefront of KEC Bengaluru.

Embodying Kohler’s rich legacy in colors, the KEC radiates a harmonious blend of India-inspired hues, such as Thunder Grey evoking the monsoon’s spirit, Peacock reminiscent of India’s national bird, and Indigo capturing the essence of natural dyes. Global finishes like Rose Gold and Matte Black enhance the allure of the KEC, bearing testament to the brand’s color-centric heritage since 1927. These finishes serve to enrich bath spaces while fostering a sense of unity and delight.

The Experience Centre stands as a treasury of live, fully functional displays showcasing an array of showers and Intelligent toilets, alongside a selection of the most innovative, design-forward products sourced both globally and regionally. Among the highlights is the Statement showering system, which redefines indulgence through its opulent spray functions, creating immersive environments for rinsing, massaging, and rejuvenating. The Anthem digital controls offer preconfigured hydrotherapy journeys that introduce new dimensions of wellness to daily routines. Additionally, the live area boasts an exquisite collection of bathtubs in diverse shapes and sizes, harnessing the power of water to calm the mind, refresh the body, and revitalize the spirit.

 

Source: indianretailer.com

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Apache is functioning normally

September 21, 2023 by Brett Tams
Apache is functioning normally

Do you know who your neighbors are? According to the Pew Research Center, 57 percent of Americans say they know some of their neighbors. Whether you frequently talk to your upstairs neighbor or you only see your next-door neighbor on occasion, being a good neighbor is important in establishing yourself as part of the neighborhood and community.

1. Learn the three-step rule

“Our best tip to be a good neighbor is a simple three-step rule: Respect, communication and responsible pet ownership!” says 10 Stars Property Management. “In almost any situation respecting others’ space is a good base for any relationship. Especially with someone living right next door. Just be social and communicate with your neighbors — even just a smile goes a long way! Finally, always be conscious of your pets and their actions. No one wants to step into poop!”

2. Consideration goes a long way

“Being a good neighbor means being considerate of people,” says Nick Slagle of HomeRootsPM.com. “They take care of the appearance of their home and simultaneously are willing to help those in their neighborhood. Good neighbors are friendly and welcoming without being intrusive.”

3. Introduce yourself

“The best way to build into a good neighbor? Introduce yourself!” says Jim Shonts, real estate broker and owner of PMI Elevation. “Neighborhoods can thrive on a sense of community, and getting to know your neighbors soon after moving can help you settle in. And, since not all people are outgoing, those early introductions can give insight on how to respect their personal space.”

4. Show interest

“Whether you are moving in or welcoming a new neighbor, show interest in them by allowing the interruption in your day to greet each other when the opportunity arises,” says Sallie Plass from Etiquette Enrichment. “Ask for or suggest ways to get involved in the neighborhood or community. Intentionally smile, exchange names and phone numbers.”

5. Stay kind

Dr. Lew Bayer, CEO of Civility Experts Inc. suggests that a good neighbor should try to “ease the experience” of the others. “This means try to reduce stress and offer support versus causing stress, e.g. if the neighbor leaves the garage door open, let them know. If the neighbor’s dog barking bothers you, ask if you can give the dog a toy or bone. Turn your music down when you see your neighbor come home. Shovel the neighbor’s walk when you shovel yours. Just do what you can to stay kind…everyone is busy and tired and sometimes struggling. Try to assume the best of people and try to make their life easier versus harder.”

6. Treat your neighbor

“A few days after the new neighbors move in, knock on the door to meet them and include a small plate of homemade cookies or muffins or a seasonal plant (for example, a potted chrysanthemum in the fall) and a sticky note with your name and phone number if they need anything,” says Rachel from the Etiquette Trainer. “Additionally, if there’s a neighborhood Facebook page, let them know about it and encourage them to contact you if they need to borrow anything while settling in, such as a ladder or hand tools.”

7. Prioritize respect

“The adage, ‘Good fences make good neighbors’ still holds true,’” says Diane Gottsman, a national etiquette expert from The Protocol School of Texas, “It’s important to be respectful of each other, especially when sharing a fence, trees hanging over the roof, drainage coming into the other person’s lawn and an assortment of dilemmas. If you are experiencing an issue, reach out in person, and address the issue in a pleasant tone of voice with an open attitude and collaborative spirit. People are much more willing to work with someone who has a smile on their face and shows an effort to get along.”

“If there is a problem that cannot be dealt with neighbor-to-neighbor, the HOA may need to get involved. When renting, talk to the landlord first before going over their head. A good neighbor respects each other’s property, pets and privacy.”

8. Just say hi

“I think being a good neighbor starts by knowing your neighbors. I make sure to say hello every day. Whether it’s a good day, bad day or if I’m in a rush, I believe acknowledgment goes a long way and eventually, that helps cultivate a deeper and better neighbor relationship,” says Pamela Syvertson, broker and owner of Verandah Properties.

9. Model how you’d like to connect with your neighbors

“Challenge yourself to reach out to a neighbor you wouldn’t normally connect with and set the tone in how you want to connect with them,” says Daniel McArdle-Jaimes, the Strategic Communications Officer for the Office of Community & Civic Life in Portland, OR. “Maybe your neighbor is from another country or is a different age than you. Start by introducing yourself and developing a relationship to help make your block a more welcoming place for all. And who knows? You might make a new friend or regular lunch buddy!”

“Also — during and after an emergency, neighbors offer a powerful source of help. Organizing a neighborhood meeting or training through an organization to discuss emergency plans and personal safety is a wonderful way to build community. Many cities offer free resources, like the City of Portland’s Neighbors Together training, which help to start and host these important safety conversations.”

10. Remember empathy

“In addition to following the rules of your community, being a good neighbor requires empathy,” says Stayce Wagner, founder and CEO of Spencer Crane Etiquette. “The ability to see things from your neighbor’s perspective helps you behave with kindness, consideration and respect. A good neighbor cleans up their dog’s poop, doesn’t blast music in the middle of the night and never parks in a neighbor’s assigned space without permission.”

“Additionally, if making small talk with people in your neighborhood is outside your comfort zone, start with a smile, eye contact and a friendly hello. When you feel more comfortable, introduce yourself to the neighbors you see regularly and let things develop naturally. Every introduction won’t lead to a close friendship, but you’ll have established friendly contact.”

11. Talk like adults

“The best advice we can give as a management company is that if you have an issue with a neighbor, you go visit them directly and discuss it in an adult manner. Try this approach first before contacting law enforcement, HOA’s or management companies,” says David Peschio, owner and principal broker at PMI Richmond. “It usually can be resolved without escalation and helps maintain good relationships moving forward.”

12. Remember their name

“Being a good neighbor isn’t difficult, but you need to put a little effort into it to have happy neighborly relations,” says Arden Clise, President of Clise Etiquette and author of Spinach in Your Boss’s Teeth: Essential Etiquette for Professional Success. “When a new neighbor moves in, drop by with some cookies, a plant or some small gift to introduce yourself and welcome them to the neighborhood. Be thoughtful. If you’re shoveling your walk of snow, clear your neighbor’s walk, as well. If you have a neighbor who is elderly, sick or struggling in some way, check in on them and see how you can be helpful. At the very least, make an effort to remember their name and say hello when you see them.”

13. When in doubt, act neighborly

“Remember — be kind. To yourself, to your neighbor, their kids, their pets and their plants and trees,” says Felipe Quintana from Charter for Compassion. “Be forgiving: We all make mistakes — aim to be the best version of yourself. Allow everyone their space but stay there for them on the sidelines if they need a friend. It all comes back in the end!”

14. Keep it friendly

“Being a good neighbor means being friendly and helpful, without being intrusive. Giving a wave and a hello with sincerity is felt and appreciated,” says Mary Ann Brennan, the Director of Rental Services for Del Val Realty & Property Management.

“Love your neighbor as yourself, but don’t take down the fence.” — Carl Sandburg

When you’re looking for a new place to live, make sure to ask your future landlord or property management company about the local community. While you can’t pick who your neighbors are, you can ask questions to get a sense of who could be living next door.

Charlsie Niemiec has spent the last 10 years working as a content marketing and social media editor and strategist. With in-house experience ranging from The Elf on the Shelf to CNN to Piedmont Healthcare, Charlsie has freelanced for the last four years with clients ranging from ESPN to the Atlanta Beltline. When she’s not copyediting or scrolling on Twitter, she is walking her very scruffy wirehaired terriers mixes Leonard and Biscuit or probably watering one of her 54 houseplants.

Source: rent.com

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Apache is functioning normally

September 20, 2023 by Brett Tams
Apache is functioning normally

The mortgage market faces a turning point, experts say, as new fixed mortgage rates have stayed below variable rates for several months and predictions grow that the cash rate has peaked.

National Australia Bank and Westpac last week became the latest banks to reduce some of their fixed rates, with both lenders dropping certain two-year rates, following cuts from the Commonwealth Bank in August.

For the first time since January last year, the average fixed rate dipped below the average variable rate in May.Credit: AFR

Chief executive of mortgage broker Finspo, Angus Gilfillan, said new fixed interest rates had crossed a pivotal threshold, dipping below new variable rates for the first time since January 2022.

“The current situation suggests an inflection point, where the market no longer expects interest rate rises to occur in the medium term,” he said.

While the average new variable rate has increased 2.5 percentage points to 5.95 per cent over the past year – exceeding the 1.75 percentage point increase in the Reserve Bank cash rate over the same period – Gilfillan said average new fixed rates increased by a more modest 1.7 percentage points to 5.8 per cent.

Fixed rates, which have traditionally played a small part in Australia’s home loan market, tend to reflect the money market’s view on the future path of the cash rate.

“Fixed rates are historically higher than variable rates when rate hikes are expected on the horizon,” Gilfillan said.

Some economists have called a peak in the Reserve Bank’s cash rate, forecasting a fall as early as March. While some fixed rates have fallen lately, RateCity figures still show the majority of recent fixed-rate changes have been increases.

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RateCity research director Sally Tindall said the major banks’ reductions recently could be an early sign some fixed rates are on their way down. At the same time, banks have been trying to rein in some of the more aggressive discounts they are offering on variable-rate loans, and Tindall said none of the big four banks had an advertised variable rate under 6 per cent.

Westpac last week raised one of its advertised variable rates for new customers, and Tindall said this was the 22nd rise to new customer rates from a big four bank since March. She said this trend showed “a strategic move to walk away from the cut-throat competition in the home loan market”.

She said it was unlikely that variable rates among the big four would return below 6 per cent until the Reserve Bank began cutting the cash rate.

As banks raised their variable rates, the number of customers choosing to fix their home loans has risen, albeit from low levels. Gilfillan said the proportion of customers choosing fixed rates had doubled over the past three months to 9.4 per cent in July, although it remains below the peak of 46 per cent in July 2021 when banks were offering ultra-low fixed rates.

Morningstar analyst Nathan Zaia said banks may have lowered their fixed rates recently to attract customers who were coming to the end of their previous fixed-rate contracts.

“The banks are probably looking for a way to lock their customers in, at least for a few years,” he said, as the mortgage rate cliff plays out.

Banks have signalled their intentions to walk away from cut-throat competition in the past few months in an effort to protect their margins, and have been less generous in some of the discounts they are offering customers on variable-rate loans.

“The banks are still offering very competitive pricing, but they’re not competing as hard,” Zaia said.

Once banks have made their repayments to a pandemic-era RBA funding program called the term funding facility (TFF), Zaia said the intensity of competition would probably fade.

“If the cash rate starts falling, they may not pass all the decreases on to borrowers,” he said. “Once they’re past the TFF repayments, banks will have more flexibility and there’s really little incentive for them to compete hard.”

The Business Briefing newsletter delivers major stories, exclusive coverage and expert opinion. Sign up to get it every weekday morning.

Millie Muroi is a business reporter at The Sydney Morning Herald covering banks, financial services and markets.Connect via Twitter or email.

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Source: smh.com.au

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Apache is functioning normally

September 20, 2023 by Brett Tams
Apache is functioning normally

“The IDR account adjustment puts everybody closer to the statutory [student loan] cancellation that they could be eligible for under the income-driven repayment plans, regardless of whether or not they enrolled in an IDR plan in the past,” explains Kyra Taylor, a staff attorney focused on student loans at the National Consumer Law Center.

Even if your loans aren’t automatically forgiven, the account adjustment will move you closer to the end of your repayment period and closer to forgiveness if you sign up for an IDR plan, which typically takes 20 or 25 years of full monthly payments.

For borrowers who’ve been in repayment for less than 20 or 25 years, here are answers to questions about the IDR account adjustment, and steps they can take to get the most out of it.

When will the IDR adjustment happen if I don’t get automatic forgiveness?

Borrowers who receive IDR credit under the account adjustment — but not enough to automatically qualify for forgiveness — will see their payment count updated sometime in 2024. The Education Department has not given an exact date yet.

How much IDR credit will I get?

To find out how much credit toward IDR forgiveness you’ll receive under the one-time IDR account adjustment, you can tally past payments yourself. Generally, borrowers get IDR forgiveness after 20 or 25 years on an IDR plan, or 240 or 300 monthly payments, which are capped at a certain percentage of their income.

Log in to your Federal Student Aid account at StudentAid.gov to see how long you’ve been in repayment. For detailed information, including descriptions of specific forbearance or deferment periods, request your account history from your servicer.

The adjustment will include the following past periods, through August 2023, toward the number of monthly payments needed to reach forgiveness:

  • Any month a borrower was in repayment, even if the payments were late or partial. The type of repayment plan doesn’t matter.

  • Time spent in forbearance, either periods lasting 12 or more consecutive months or a cumulative 36 or more months. 

  • Any month spent in deferment, other than in-school deferment, before 2013.

  • Any month spent in economic hardship or military deferments on or after Jan. 1, 2013.

  • Any months in repayment, forbearance or a qualifying deferment before a loan consolidation.

  • Any months spent in COVID-19-related forbearance.

Past months spent in default will generally not be included in the recount, though borrowers who enroll in the temporary Fresh Start program to get out of default will get IDR credit from March 2020 through the date they leave default.

How to benefit from the account adjustment

The account adjustment will be automatic for most borrowers, but some borrowers need to take an extra step before the end of 2023. If you want to benefit from the account adjustment to reach loan forgiveness more quickly, you must sign up for an IDR plan.

Consolidate your loans if necessary

Borrowers with certain types of loans will need to consolidate them into direct loans by the end of 2023 to receive the account adjustment.

These types of loans must be consolidated to receive IDR credit if they don’t reach the forgiveness threshold:

  • Commercially managed FFEL Program loans, i.e., those held by companies like Navient.

  • Perkins loans. 

  • Health Education Assistance Loan (HEAL) Program loans. 

  • Parent PLUS loans.

If you consolidate loans that were in repayment for different periods of time, the new consolidation loan gets the maximum amount of IDR credit that accrued among the loans, Taylor explains.

Enroll in an IDR plan

Federal student loan borrowers will need to start making payments again this fall. Interest resumed on Sept. 1, and bills will come due in October.

For borrowers who anticipate having a leftover balance after the account adjustment, enrolling in an IDR plan now is very important, says Mike Pierce, executive director of the Student Borrower Protection Center, a nonprofit that advocates for student debt relief. This will allow borrowers to continue making progress toward IDR loan forgiveness once payments restart, he says.

SAVE is a good option for most borrowers. Benefits include halved monthly bills for most borrowers with undergraduate loans, no compounding interest if you make regular payments and faster forgiveness for borrowers with smaller balances.

Some middle- or low-income borrowers could even see $0 monthly payments under SAVE, while working toward loan forgiveness. For these borrowers, SAVE “is basically an extension of the payment pause that you just have to fill out some paperwork for,” Pierce says.

Parent PLUS borrowers are only eligible for the Income-Contingent Repayment plan, which is the “least generous” of the four IDR plans, says Taylor. Monthly ICR payments can be high: they’re capped at 20% of the borrower’s discretionary income, rather than 5% to 10% under the other three IDR plans.

Borrowers with parent PLUS loans should see how close they are to cancellation and whether it’s worth it to consolidate and enroll in ICR as a step toward loan forgiveness, Taylor explains.

What if I’m enrolled in Public Service Loan Forgiveness?

If you have at least one approved PSLF form, you may see your payment count adjusted as early as the fall of 2023. Servicers will continue to adjust PSLF counts monthly until the final adjustment in 2024.

Under the account adjustment, you’ll get PSLF credit for any month, dating back to October 2007, in which you had qualifying employment and were in a repayment status, regardless of the payments made, loan type or repayment plan. Borrowers who qualify for PSLF get loan forgiveness after just 10 years, or 120 monthly payments.

The account adjustment is automatic for all PSLF-eligible Direct Loans, including consolidated and unconsolidated parent PLUS loans — but borrowers with commercially or federally held FFELP loans must consolidate them before the end of 2023 to receive the adjustment.

Use the Federal Student Aid office’s PSLF Help Tool to certify periods of employment and track progress toward loan forgiveness under PSLF.

Source: nerdwallet.com

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