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In an effort to make homeownership more accessible, seeing that down payment is often the biggest hurdle, Fannie Mae and Freddie Mac have announced that they will now allow loan-to-value ratios as high as 97%.

Only 3% Down Needed to Qualify for a Mortgage

  • Fannie Mae and Freddie now only require 3% down payment
  • Which is slightly lower than the 5% minimum they used to require
  • More importantly it means conventional home loan financing
  • Requires a smaller down payment than government options like the FHA (3.5% minimum)

In other words, prospective home buyers can put down just 3% instead of the previous 5% down payment requirement that was in place for conforming mortgage loans. This should make it a little bit easier to qualify for a mortgage without going through the FHA.

Additionally, if you already have a mortgage that is owned by Fannie Mae or Freddie Mac, you’ll be able to get a rate and term refinance up to 97%, as opposed to just 95%, assuming you don’t qualify for HARP.

These new guidelines should make conventional loans a lot more popular than FHA loans, the latter of which require 3.5% down and come with very costly insurance premiums.

However, there are a few caveats to ensure loose lending doesn’t return just several years after the worst housing crisis in recent memory.

For one, both programs require the subject property to be owner-occupied. So investment properties and second homes won’t be eligible. But condos, co-ops, and PUDs are just fine.

Additionally, you can only get a fixed-rate mortgage via these new 97% LTV loan programs and the mortgage term is limited to 30 years. Shorter-term fixed mortgages are also permitted.

Though Fannie Mae and Freddie Mac are very similar, there are some differences between the two programs that I’ve highlighted below, most importantly the implementation date.

So if you were struggling to come up with a down payment, you might now be able to qualify for a mortgage thanks to these new programs. Take a look to see if you’re eligible and then contact banks/brokers to see if they’re available.

Most lenders that work with Fannie and Freddie will add these loan programs to their suite of offerings.

Fannie Mae’s 97% LTV Offering

Fannie Mae actually has two separate 97% LTV home loan programs available, one open to everyone and one only for borrowers in low-income census tracts or income-restricted in all other tracts.

The income-restricted program is known as “HomeReady” and comes with cheaper mortgage insurance coverage along with lower loan level pricing adjustments (LLPAs).

Those lower LLPAs mean borrowers can obtain lower mortgage interest rates, an important benefit for those with affordability concerns.

The LLPAs are waived for borrowers with LTVs above 80% and credit scores equal to or greater than 680, and capped at 1.50% for borrowers with attributes outside those parameters.

It also allows cash-on-hand as an eligible source of funds, but requires at least one borrower to take an online homeownership education course.

Here are the other rules that apply to both programs:

– Available on 1-unit principal residences only
– Maximum loan-to-value ratio 97%
– Down payment can come from gift, grant, or Community Second
– No minimum borrower contribution necessary
– Reserves may be gifted
– Only fixed-rate mortgages with terms up to 30 years are eligible
– No high-balance loans or adjustable-rate mortgages
– Manufactured housing not permitted
– Mortgage insurance is required
– Minimum 620 FICO score
– Must be underwritten through DU
– Available now

For the standard Fannie Mae 97% LTV program, there are no income limits and no discounts in the way of mortgage insurance or LLPAs.

And at least one borrower must be a first-time homeowner (no ownership interest in last 3 years). However, no pre-purchase home buyer counseling is required.

Freddie Mac’s Home Possible Advantage

– Available for low- and moderate-income borrowers
– Both first-time buyers and other borrowers with limited down payment savings can qualify
– First-time home buyers must participate in homeowner education program
– Maximum loan-to-value ratio 97%
– Loan options include 15, 20, and 30-year fixed mortgages
– Can be used to purchase a single-unit, primary residence
– Minimum 620 FICO score
– Manufactured housing not permitted
– Income limits vary by area (no limit in underserved areas)
– Lender-paid mortgage insurance permitted
– No reserves required
– Available March 23rd, 2015

For the record, there are already individual lenders offering loans with as little as 3% down that aren’t backed by Fannie or Freddie.  Examples include TD Bank’s Right Step program and various loan programs via credit unions nationwide.

However, the Fannie/Freddie guideline change will allow such loans to become widely available to many more borrowers.

(photo: Anna & Michal)

Source: thetruthaboutmortgage.com

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Irvine, California, is renowned for its picturesque landscapes, master-planned communities, and commitment to green spaces. Within this vibrant city, you’ll find an array of exceptional parks that offer residents and visitors an opportunity to bask in the beauty of Southern California’s outdoors. If you’re considering relocating and renting an apartment in Irvine or buying a home, you’ll be delighted to discover the plethora of well-loved parks. Whether you’re looking to enjoy a leisurely day with family, embark on an adventure, or simply unwind amidst nature, these parks in Irvine offer many options. In this Redfin article, we’ll explore 7 of the most popular parks in Irvine, California. 

1. Orange County Great Park

Spanning over 1,300 acres, the Orange County Great Park is a massive recreational hub that features sports fields, a carousel, an iconic helium balloon ride offering panoramic views, and even a farmer’s market. The Palm Court Arts Complex within the park houses an art gallery and artist studios, making it a cultural oasis in addition to its outdoor offerings. The Great Park is a testament to Irvine’s commitment to providing ample green spaces for its residents.

2. William R. Mason Regional Park

William R. Mason Regional Park is an idyllic haven spread across 339 acres, nestled in the heart of Irvine. The park boasts serene lakes, sprawling picnic areas, and shaded playgrounds. Visitors can rent pedal boats to explore the lake or embark on leisurely walks along its scenic trails. With well-maintained amenities and lush landscapes, Mason Park remains a favorite destination for those seeking a tranquil escape.

3. Quail Hill Loop Trail 

Nature lovers and hiking enthusiasts will find solace in Quail Hill Loop Trail. This 2.8-mile loop trail weaves through the Quail Hill Preserve, offering captivating vistas of Irvine’s preserved open spaces. As you traverse the trail, you’ll encounter a diverse range of native flora and fauna, making it a perfect spot for birdwatching and wildlife observation. The serene surroundings make Quail Hill Loop Trail a hidden gem for hikers of all ages and abilities.

4. Heritage Park

Situated in the Woodbridge community, Heritage Park exudes a sense of history and charm. The park’s highlight is the Irvine Historical Museum, which provides insights into the city’s rich heritage and development. Additionally, Heritage Park offers well-manicured gardens, a large lawn area for gatherings, and peaceful walking paths. It’s an ideal spot to soak in the beauty of nature while appreciating Irvine’s cultural legacy.

5. Turtle Rock Community Park

Turtle Rock Community Park offers a delightful blend of recreational facilities and natural beauty. This park features sports fields, tennis courts, a playground, and picnic areas for families to enjoy. The park’s lush greenery and mature trees create a serene ambiance that’s perfect for unwinding and connecting with nature. Whether you’re seeking an active day out or a leisurely picnic, Turtle Rock Community Park has you covered.

6. Bommer Canyon

For those craving a more rugged outdoor adventure, Bommer Canyon is a must-visit destination. This nature preserve is situated within the foothills of the Santa Ana Mountains and offers a network of hiking and biking trails that wind through picturesque landscapes. Bommer Canyon’s serene wilderness and sweeping vistas make it an excellent escape from the urban bustle, offering an immersive nature experience right in the heart of Irvine.

7. Deerfield Community Park

Deerfield Community Park is a beloved neighborhood park known for its family-friendly amenities and welcoming atmosphere. The park features sports fields, basketball courts, and a playground, providing ample opportunities for recreation and outdoor play. With its open green spaces and shaded picnic areas, Deerfield Community Park is an inviting spot for gatherings and community events.

A final note on parks in Irvine 

Irvine, California, stands as a shining example of a city that values green spaces and outdoor experiences. From expansive regional parks to intimate neighborhood oases, Irvine’s parks cater to diverse interests and offer residents and visitors a chance to appreciate the natural beauty of the outdoors. So, whether you’re seeking tranquility in nature or a day filled with recreational activities, be sure to explore these remarkable parks in Irvine.

Source: redfin.com

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The best places to live in Illinois criss-cross the state. You can always head to the dense urban centers or live close by in the suburbs. But, that’s the great thing about Illinois — that you have options. With a reasonably low cost of living, outside of the Windy City, Illinois offers up a variety of cities, each with their own special characteristics and charm.

To find the right spot for your budget, breaking down the cost of living in Illinois helps a lot. Looking at average pricing in key areas can make it easier to narrow down your options, and get you moved into this great state even faster.

So, what are these key categories you ask?

Illinois housing prices

Housing prices in Illinois are all over the map. Some cities crash through the ceiling of the national average, making them expensive places to live. Others are so far below, you won’t believe it. With plenty of options, though, finding that perfect home is easy, whether you’re looking to rent or buy.

Champaign

A small enough city to provide both urban vibes and quieter rural ones, Champaign is known for its art scene, food and parks. The city also draws in a lot of college students thanks to the University of Illinois at Urbana-Champaign, which bridges the gap between Champaign and its neighbor, Urbana. Living here is very budget-friendly, as well as fun. Housing prices are 31 percent below the national average.

Rental prices in Champaign are still within reach for most, even with rising prices. The average rent for a one-bedroom apartment is $874, down 3 percent from last year. A typical two-bedroom rents out for $1,042 per month, up 11 percent over last year.

Housing prices rose 18.5 percent over last year, with the median home price in Champaign at $205,000.

Chicago

There’s so much to say about Chicago, that it’s hard to know where to start. The city offers up so much to do, all of which come at a pretty high price. Home prices here are 52.9 percent above the national average. Like other big cities, Chicago has it all, and a lot of it. There are more restaurants and museums, bigger shopping and a brighter nightlife. Chicago also has a lot of parks and a sizable area of lakefront for hanging out outdoors. It’s a typical city, with great neighborhoods, but living in the thick of things will cost you.

When it comes to apartments, rents aren’t rising by too much, but that doesn’t mean prices are low. A one-bedroom apartment, up 11 percent over last year, has an average rent of $1,947. A two-bedroom apartment, up only 12 percent over last year, has an average rent of $2,597. That’s the most expensive yet by far.

Up only slightly in price, the median home price in Chicago is $370,000, a 4.5 percent increase over last year.

Danville

While still very much a small town in its essence, Danville is a perfect spot for outdoor lovers. Located on Lake Vermilion, there’s no shortage of water-based activities, hiking, fishing and more. A strong sense of community makes local festivals all the more fun. The biggest perk is the cost of living. Home prices especially make Danville more accessible to any budget as numbers are 44 percent below the national average.

The average rent in Danville is $788 per month, and home prices average out to around $250,000. This makes for a large selection of reasonably-priced real estate for any newcomer.

Peoria

A laid-back town with a few entrenched industries offering plenty of employment opportunities, Peoria provides a perfect lifestyle. Sidling up to the Illinois River, there’s great hiking and water-based activities. The bars, restaurants and casinos make for delicious times and a fun nightlife. Living here is also very affordable, at 29.1 percent below the national average.

Apartment costs are on the rise, and rents are up significantly over last year. One-bedroom apartments saw a 28 percent increase, for an average monthly rent of $1,008. Two-bedroom apartments saw a 24 percent increase, for an average monthly rent of $1,272.

Although rents are going up, home prices are going down. The median sale price in Peoria is $139,900, down 7.6 percent over last year.

Springfield

Getting closer to the national average, home prices in Springfield are only 10.4 percent below it. This still leaves a lot of wiggle room for affordable housing in the state capital. Springfield holds a lot of history and feels more suburban than anything else. However, its assortments of bars and restaurants help keep the city attractive to younger professionals.

Rental prices in Springfield are moving at the same pace but in opposite directions. One-bedroom rents went down by 15 percent over last year, while two-bedroom rents increased by 15 percent. An average one-bed apartment is currently $750 a month, while two-bedrooms are an affordable $1,100 per month.

Homes in Springfield are working a little differently in the market. Their prices are up by 6.4 percent over last year, so interest in owning property here is definitely growing. The median home price in Springfield is $154,250, still quite affordable for many.

Illinois food prices

From Chicago-style pizza to hot dogs done right, Illinois knows food. Locals spend between $200 and $233 per month on groceries. This most likely leaves room for a night or two each week out since food prices all hit pretty close to the national average.

  • Danville is 4.7 percent below the national average
  • Champaign is 4.6 percent below the national average
  • Springfield is 1.3 percent below the national average
  • Peoria is 1 percent below the national average
  • Chicago is 3.1 percent above the national average

While it may not surprise you that this is the order of cities when it comes to overall food prices, the cost of individual items on your grocery list won’t always fall into the same patterns. Although parmesan in Chicago is almost a dollar more than in Danville, bread is the most expensive in Peoria. To get a real read on what your food prices will be and how they will impact your cost of living in Illinois, it’s best to look at a few specific prices.

Illinois utility prices

Utilities in Illinois are all below the national average. This means that costs for electricity, gas, water and even internet don’t get too high at any given point.

  • Peoria is 8.2 percent below the national average
  • Champaign is 7.8 percent below the national average
  • Danville is 7.7 percent below the national average
  • Chicago is 1.4 percent below the national average
  • Springfield is 0.2 percent below the national average

It’s nice to see Chicago slip out of the most expensive spot. It means the cost of living in Illinois isn’t always super high in that one city. Other cities shoulder the burden of high expenses, too.

You can see this subtle change in averages when looking at a typical monthly energy bill across our cities. Springfield has the highest at $179.75, and Peoria is the lowest at $144.39. What’s also interesting to see is that the other cities’ averages lean more toward Peoria prices than Springfield’s. Even Chicago’s average energy bill is only about $12.50 more than Peoria’s.

It’s also worth noting that Illinois is working toward increasing its wind energy across the state. Currently, only 7.6 percent of Illinois’ electricity comes from wind power, but the state is working toward increasing that. This could help to lower energy bills even further down the road.

Illinois transportation prices

Even if you just look at Chicago alone, transportation is big in Illinois. That includes the trifecta of getting around — your feet, the train (or bus) and a car.

All modes of transportation are big businesses in Illinois. Even parking can cost you an arm and a leg in the right spot, so it’s no surprise that city averages are pretty high.

  • Champaign is 6.2 percent below the national average
  • Danville is 1 percent above the national average
  • Peoria is 6.5 percent above the national average
  • Springfield is 10 percent above the national average
  • Chicago is 33.7 percent above the national average

To keep your own transportation budget in check, consider replacing owning a vehicle with riding the bus or train. Even if you paid for a monthly pass and rode public transportation to and from work all week, while still having a car for weekends, you’d most likely save big when it came to gas and parking.

Chicago CTA

Operating both the ‘L’ Train and the bus, the CTA is the second largest public transportation system in the country. There are eight trains along the elevated train, or ‘L’, and 129 bus routes across Chicago.

A regular fare on the ‘L’ is $2.50, but it’s only $2.25 on the bus. Transfers are free and passes are available that work with both modes of transportation. A 30-day pass is $75, but 7-day passes are only $20.

Springfield SMTD

With a long list of bus lines that include a state fair shuttle, night service routes and a bullet bus, nobody can claim the SMTD isn’t a thorough system.

A single-ride fare is $1.25, but passes are available. These passes are good for a certain number of rides rather than a specific time period. You can buy a standard discount pass, good for 20 rides, for $20.

Peoria CityLink

With 17 bus routes, CityLink makes good on its promise to connect customers to where they want to go in an efficient and safe manner.

A single-ride fare is $1, but you’ll really save big with a 30-day pass. For only $40, the pass is good starting on the first day you use it.

Illinois healthcare prices

Looking at healthcare across Illinois, it’s easy to see a correlation between price and city size. The larger cities definitely have higher averages, making it very obvious that where you live affects your cost of living.

When it comes to healthcare — the doctors, urgent care visits and prescription medications, most of our cities fall under the national average, unless big and densely populated.

  • Danville is 15.9 percent below the national average
  • Champaign is 13.8 percent below the national average
  • Peoria is 6 percent below the national average
  • Springfield is 2.3 percent above the national average
  • Chicago is 21 percent above the national average

It’s a big jump between average healthcare costs in Champaign and Chicago. Big enough that you’ll see the difference when looking at the average costs of specific medical bills. An average trip to the doctor’s in Chicago is 59 percent more than going in Champaign.

Seeing an eye doctor in Chicago is 48 percent more costly than having that same appointment in Champaign. Even just looking at these two examples makes it very apparent how much your budget can skew in an area like healthcare depending on where you live.

Illinois goods and services

The cost of living in Illinois, when it comes to goods and services is relatively good across the board. Of course, that’s only if you leave out Chicago, which again skews the numbers.

  • Springfield is 12.1 percent below the national average
  • Peoria is 5.8 percent below the national average
  • Danville is 5.2 percent below the national average
  • Champaign is 4.2 percent below the national average
  • Chicago is 21 percent above the national average

Goods and services include all those extras in your monthly budget. They’re the nights out with friends, the treats you give yourself and a few practical extras. All combined they’re usually the first items to go when money gets tight, but how do you prioritize? Looking at specific costs can help you do that. It can also help you really see which cities might be too much for your budget.

Surprisingly, Chicago does not take the top spot for everything. When it comes to dry cleaning, it’s one of the least expensive cities. It does, however, rank at No. 1 in every other category. The least expensive city shifts from column to column, meaning you can never really say that one city is the “least expensive.”

Taxes in Illinois

Illinois residents pay a flat income tax each year of 4.95 percent. This means that regardless of how much money you make, you’re taxed the same. For those making less, this can feel frustrating, but overall the rate isn’t too high.

When it comes to sales tax, the state rate is 6.25 percent. On top of that, localities are able to add an additional 4.75 percent. This means that the maximum amount of sales tax you could pay in Illinois is a whopping 11 percent. At that rate, for every $1,000 you spent shopping, $110 would go straight to taxes.

Unfortunately, all of our cities lean in pretty close to that maximum amount.

  • The sales tax rate in Champaign and Peoria is 9 percent
  • The sales tax rate in Danville is 9.25 percent
  • The sales tax rate in Springfield is 9.74 percent
  • The sales tax rate in Chicago is 10.25 percent

The average rate across the state is 8.81 percent, so there are definitely cities that opt for lower sales tax than this sampling.

How much do I need to earn to live in Illinois?

To live comfortably anywhere, you need to afford rent. Experts suggest you spend around 30 percent of your annual salary on this particular expense, so there are two ways to calculate how much you should earn to guarantee you can pay for a place to live. The first is to plug some numbers into our rent calculator. This tool will help you make sure your budget aligns with the cost of living in Illinois.

The second way is to do a little estimating. You can use the average rent in Illinois, $1,442, to calculate a minimum income. From there, you can compare the average annual income for the state to see if things match up. This would put the odds in your favor.

With the average rent, you’d need to earn at least $57,680 to put 30 percent toward this monthly bill. This is good news since the average annual salary in Illinois is $59,650. It’s just a tiny bit above, but that little extra means less stress when it comes to apartment hunting.

Living in Illinois

With so much to see and do, a strong economy, a whole lot of sports teams and some amazing food, you’d be hard-pressed to argue against living in Illinois. And, with many cities being so affordable, it’s a state that could fit into your budget. So, grab a map and start checking those numbers. There could be a move in your future.

Related articles:

The Cost of Living Index comes from coli.org.
The rent information included in this summary is based on a calculation of multifamily rental property inventory on Rent. as of August 2022.
Rent prices are for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Source: rent.com

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It’s no secret that celebrities have said some wild and outrageous things—both on-screen and off. From ridiculous demands to understanding complicated topics, these famous people will make you shake your head in disbelief. Whether it was a misinformed statement or something downright silly, prepare to be amazed by what they had to say or did! So get ready for an entertaining read as we explore the dumbest statements uttered by our beloved stars of stage and screen.

1. Not Fake a Hate Crime

Photo Credit: Shutterstock.

One user posted, “Jussie Smollett. Tracy Morgan said it best: ‘Yeah, they gave me a role on “Empire.” Contractually, they gave me millions of dollars. Contractually, all I gotta do is not fake a hate crime.’”

Another user replied, “Dave Chappelle’s bit about Jussie Smollett was pretty funny too. ‘The black community supported Jussie Smollett by keeping our mouths shut.’”

“This is the top one for me. It took so much careful planning and effort,” one commenter added.

2. If I Did It

Photo Credit: Shutterstock.

One Redditor posted, “Making a book called ‘If I Did It’ after being acquitted of murder.”

Another user replied, “The family of OJs victims got the rights of the book and made the ‘if’ incredibly small.”

One commenter added, “Also, the forward they added is called ‘He Did It.’”

Another Redditor said, “Kids today will never understand what a BIG FREAKIN’ DEAL the whole OJ thing was, from the car chase to the trial. So really, if it weren’t for OJ, we wouldn’t have The Kardashians.”

One user explained, “OJ was one of those athletes who managed to cross over to pop culture. He was on TV often between his acting and product endorsements. In addition to being considered one of the best football players, he had a squeaky-clean image. The closest parallel I can draw today is if Peyton Manning killed his wife and went on a police chase. Of course, there probably wouldn’t be a racial component as there was with OJ, but as far as images are concerned, OJ and Manning would be similar.”

3. Joining Scientology

Photo Credit: Shutterstock.

One user posted, “Joining Scientology, promoting it, and defending it.”

Another user replied, “Just look at Danny Masterson, they tried to cover up his [sexual] scandal, and thankfully he was convicted.”

4. Performing an Ukulele Apology

Photo Credit: Shutterstock.

“Playing the ukulele to ‘apologize’ for being creepy to kids you met on the internet,” one Redditor posted.

Another user commented, “There’s no quicker way to make people think you’re diddling kids than writing a song about it!”

One commenter responded, “I saw a meme about it today, and it was like ‘Common playing in A minor got you in this situation in the first place’ and I was crying laughing.”

5. Trying to Bring a Controlled Substance On an Airplane

Photo Credit: Shutterstock.

Another user added, “Former NBA player Damon Stoudamire tried to get over 1 ounce of [drugs] onto an airplane, but got caught at the metal detectors because he wrapped it in Aluminum Foil.”

One user asked, “Is that what happened to him?! I was wondering why he just got up and disappeared.”

“He’s the head coach of Georgia Tech,” one Redditor answered. 

6. Being Bill Cosby

Photo Credit: Shutterstock.

A Redditor shared, “Bill Cosby for being Bill Cosby. Millions adored this man as the father figure they always wanted. Until he wasn’t the father figure anyone wanted.”

One replied, “This one hurt severely. The public loved him. He had great stand-up routines and tv shows. I got to see him perform once.

“Then, Boom. It turns out he’s [sexually assaulted and] drugged women. Ugh.”

Another user added, “It was absolutely heartbreaking. I watched every episode of The Cosby Show, some more than once. It made me feel good; happy memories; everything was okay. Until it wasn’t.”

7. The Streisand Effect

Photo Credit: Shutterstock.

“Barbra Streisand created Streisand effect. She didn’t want her home to be known on the internet, so she did everything in her power to remove pictures and addresses but wasn’t successful, and in return, her home became a hot topic,” one user added.

One user replied, “It seems dumb today, but the internet was pretty new and kind of unknown to most people. I imagine this was thought the same way as going after a tabloid. But instead, we witnessed an entirely new phenomenon.” 

Another user added, “The funny thing was, prior to her lawsuit, the picture featuring her house had been viewed five times. Presumably, one of those was Streisand herself, and another was her lawyer. IIRC, the offending picture was part of a project to photograph the entirety of the California coastline. So thousands of images. One of which happened to show the back of her house. There was nothing in the picture that identified the house as hers.”

8. Antonio Brown Incidents

Photo Credit: Shutterstock.

One user posted, “Here’s a list of Antonio Brown incidents from another thread. He could have legit been a potential Hall Of Fame player, as he was arguably one of the best WRs in the NFL. Then… he took crazy to a level that makes Kanye look sane. The dude has a lot more time to add some stupid [things] to it, but here goes:

“Edit: The newest is buying an Arena Football Team to be an owner/player then not paying league dues… currently the target of a class-action lawsuit for withholding paychecks to players as well.

“•Kicked out of Florida International University after fighting a security guard…

“• ⁠His second year in the league, he took a personal stretch limo to a charity event, had them open every single expensive bottle of wine, and rejected it. They refused to pay for it (charity, remember), then left. -credit Nduguu77…

• ⁠Trashed a condo and threw furniture out a window 14th-floor window, which almost hit some people, notably a child…

“• ⁠Threw a fit over Juju winning team MVP and trashed him on social media…

“• ⁠Held out and refused to show up to training camp because the NFL would not approve his helmet because it was too old for their safety standards…

“• ⁠Got fined by the Raiders for not attending camp…

“• ⁠Tried to fight Mike Mayock, called him a cracker, had to be held back by Vontaze Burfict, then punted a football down the practice field and said, ‘Fine me for that.’ [He was fined.]…

“• ⁠Released a video where he used audio of Jon Gruden, who didn’t know he was being recorded, which is illegal in California (full disclosure, Gruden has said he gave permission, but the generally accepted theory is that he said that in the hope that it would help get him to show up to the facility and not alienate him.)

“• ⁠Demanded a release from the Raiders…

“• ⁠Made a lot of crazy tweets saying stuff like ‘Devil is a lie,’ a proverb about burning down a village… he made a lot of crazy tweets around this time is the point here…

“• ⁠Signed with the Patriots…

“• ⁠The sexual assault allegations came out (the one where he’s getting sued)

“• ⁠The sexual harassment allegations came out (the one where he’s not getting sued)

“• ⁠Threatened the woman not suing him in a group text that included his lawyer and had a picture of her kids in the text

“• ⁠Got released by the Patriots after one week

“• ⁠Went off on a tweet storm and said a lot of crazy [things] about a lot of people, and was supportive of people sending threats to the writer of the article detailing the sexual harassment allegations

“• ⁠Said he was done with the NFL

“• ⁠Went back to college via online classes

“• ⁠Tried to outsource his homework to Twitter

“• ⁠Wants to come back to the NFL

“• ⁠Filed several grievances to try and get more than $40 million from the Raiders and Patriots…

“• ⁠Tweeted a couple of bizarre tweets about the Raiders using him for HBO ratings and the Patriots trying to steal his stuff and kept using this weird chicken-based metaphor

“• ⁠Tried out for the Saints and brought an entourage and film crew to shoot a music video with him when specifically told not to do that…

“• ⁠Tweeted ‘No more white woman 2020.’…

“• ⁠Used a bunch of slurs and profane language toward cops in an Instagram video he posted

“• ⁠A police youth football league cut ties with him and returned a donation after the release of the video saying there was an ‘irreparable rift’ between the department and AB…

“• ⁠Was involved in a dispute with movers at his home, where he allegedly threw rocks at the movers and moving vans. He is currently being investigated for battery by the police…

“• ⁠Warrant issued for the arrest of AB…

“• ⁠Rumors spread about AB signing with Tampa or Seattle

“• ⁠AB announces his retirement (for what I believe is the third time, it’s hard to find a good record of the rest of them.)⁠ Two days later, AB wants to play again and is asking for the league to wrap up its investigation

“• ⁠The NFL announces an eight-game suspension for AB… under investigation for the bike-throwing incident

“• ⁠Allegedly acquired fake covid-19 card. Confirmed to have acquired a fake covid-19 card and subsequently suspended for three games

“• Removed jerseys and pads and threw them in the stands before exiting the game verse the Jets. Was subsequently cut from the Bucs for stripping on the field…”

9. Praising Nazi Germany

Photo Credit: Shutterstock.

“Losing a billion-dollar shoe deal b/c he couldn’t stop talking about how much he loves Hitler,” one user added.

Another user replied, “When Alex Jones is trying to reign you in, you know you’re spouting some crazy [things].”

One commenter shared, “That was such a bizarre interview. Alex REPEATEDLY gave him outs like, ‘As a fashion designer, surely you just appreciated their uniforms, RIGHT?’ And Kanye pretty much says, ‘Nah, I just like Hitler, man.’ Wtf?”

10. Staging a Hate Crime

Photo Credit: Shutterstock.

One user answered, “[Jussie Smollet] is a contender, although many choices exist. He stages a hate crime to gain leverage in contract negotiations… He hires meatheads to do the deed and pays them with a check. Of course, he lied the whole time, then the video turns up, and the DA figures it out.

“But being famous, he pulls strings and escapes prosecution for making a false claim. THEN…the political tide shifts, and he runs his mouth and refuses to reimburse the county for the cost of the investigation. And so the new DA says f- it and prosecutes him, and he gets convicted because he was obviously guilty.”

11. Posting a Video of Violent Death

Photo Credit: Shutterstock.

“Logan Paul posted a full YouTube video of someone hanging in a forest,” one user posted.

Another user commented, “Well, his whole family seems like crap, so no surprise he’s a huge [jerk].”

One Redditor added, “Even worse was that he was in Aokigahara, the ‘suicide forest’ in Japan. It’s unclear why that forest is such a popular place for people to un-alive themselves, but to revel in such a horrible event for internet fame is despicable.” 

12. Saying You Could Have Saved Flight 11

Photo Credit: Shutterstock.

One user posted, “Mark Wahlberg saying if he had been on flight 11 (like he was supposed to), it wouldn’t have crashed because he would have killed the terrorists then figured out how to land the plane.”

Another user replied, “So he said what every person in Boston says daily.”

13. Debating Word Definitions

Photo Credit: Shutterstock.

One user shared, “That time Jennifer Garner corrected Conan O’Brien on the word snuck is one of my favorites. The fact that she throws in the bit about him going to Harvard makes it extra delicious.”

Another user replied, “His laugh when pulling out the dictionary to prove her wrong lives in my mind rent-free.”

14. Gwenyth Paltrow’s Goop

Photo Credit: Shutterstock.

“Gwenyth Paltrow and everything she promotes. Here’s a tea made with echinacea, random plants I got from cutting my yard. I stirred it with my [privates]. It’ll cure ED, lung cancer, whatever. Now available at Goop,” posted one user.

Another user replied, “Doesn’t everyone want a $100 candle that smells like my [body]..?”

15. A Math Called Terryology

Photo Credit: Shutterstock.

One user posted, “Terrance Howard ‘invented’ his own math called Terryology.”

Another user replied, “‘How can it equal one?’ he said. ‘If one [times] one equals one, that means that two is of no value because one [times] itself has no effect. One [times] one equals two because the square root of four is two, so what’s the square root of two? Should be one, but we’re told it’s two, and that cannot be.’”

Do you agree with the statements listed above? Share your thoughts!

Source: Reddit.

These are 10 Things That Completely Destroyed The Love in a Relationship

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There’s no question that relationships can be confusing, but here are some of the top things to avoid if you want to keep your relationship healthy!

10 Actors and Actresses People Refuse to Watch Ever Again

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We all have a favorite actor or actress, but most of us have a least-favorite as well. Check out this list of actors and actresses people never want to see performing again!

Top 10 Worst Human Inventions of All Time

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Some inventions are world-changing, and some of them, well, they change the world in the wrong ways. Here are some of the worst inventions Redditors could think of.

10 Famous Celebrities Who Look Like They Smell Terrible

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We’ve all had moments of hygiene faux pas—but these celebrities just look like they don’t take care of themselves at all.

10 Terrible Fads People Are Glad Died Out

Photo Credit: Shutterstock.

Every fad has its time in the limelight, but some of them come and go faster than others; and some just need to die out right away. Check out this list of fads of which people were happy to see the last.



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This was an actual weekend harvest from our garden last August.

At Get Rich Slowly, we get many requests for information about starting a vegetable garden. This is huge topic, and really enough fodder for an entire website. If you’re a novice gardener you will benefit by asking yourself six questions before mail-ordering seeds or heading to your local nursery. Now is the time to do your research so that you’ll be ready for planting season.

Do you actually like to eat vegetables?

If not, focus on fruits and herbs, edible and ornamental flowers, and a favorite veggie or two. A well-tended garden will produce a lot of vegetables. If you are lukewarm about zucchini then pass up that beautiful seedling. (Or go introduce yourself to your five nearest neighbors so that you can share come July).

What is your gardening space like?

This is probably the most important question for the novice gardener. If you are starting from bare dirt or, more likely, a patch of lawn, you have some work to do. The plot needs to be evaluated for sun and wind exposure, moisture/drainage, soil pH and elemental content, pests, and other factors.

When we moved to the new house, J.D. used math to determine our garden location.

Crop gardens need a sunny spot. But remember that the angle of the sun in the summer months will be different than it is now. Nonetheless, try to watch over the next few weeks to determine where the sun hits your property. If I have to choose between morning sun and evening, I prefer morning sun — it is less intense, which means watering needs are decreased. Here in Portland, however, it’s hard to give a garden too much sun.

Get online and tap the resources at your local university’s extension offices. You can usually find them just by searching for your state’s name and “extension service”. Many states offer free soil testing, which will tell you how to amend the soil if nutrients or organic matter are lacking, or if the pH of the soil needs to be adjusted. Your county’s Master Gardener program may also offer this service. Each crop has an optimum pH growing range. We add acid for our blueberries and strawberries; kale and peas like a slightly alkaline soil. If your soil is close to neutral (pH 7), you can probably proceed as-is.

These tomatoes were started from seed in February.
In May they’re ready to be transplanted!

Even if your soil is terrible, you still have options. On a small scale, container gardening can be rewarding. A cherry tomato, well-watered, can do well in a large pot on a patio. Better yet, build some raised beds. These will require an initial investment for the soil to fill them and construction materials, but they provide better drainage, warmer soil temperatures in the spring (and thus earlier crops), and reduced weeding. (Please avoid pressure-treated lumber, though, there is some evidence that the toxic chemicals leach into the soil. Okay for a picnic table, but not for the dirt where your eggplant is growing!)

If this all seems rather intimidating, I encourage you to start small. Don’t roto-till the entire lawn under until you really decide that crop gardening is for you. If your gardening space is less than ideal but you’d like to take the plunge, perhaps one 6’x12′ foot raised bed is the perfect beginning. Or try growing herbs.

During our second summer, we tore up sod to expand the garden space.

Herbs are one of the most forgiving classes of plants to grow — almost as easy as weeds — especially the hardy perennial herbs. Except for excessively moist soil and total shade, almost any conditions will support herbs. They thrive in sunny, dry areas. Herbs are also some of the most frugal crops you can grow because they are outrageously priced at the grocery store and can be used to make even basic ingredients into a stand-out meal. It’s worth the cost to start with herb plants rather than seeds so that you can use them right away.

Perennial herbs like sage, rosemary, thyme, lemon verbena, mints, chives and oregano require very little work. Again, do your homework for your climate. And a word to the wise: some herbs are invasive. Mints have spreading roots that will take over your entire city block. They are best in a container with a solid bottom rather than planted directly in the ground. Others, like oregano and fennel, spread easily by dropping their seeds. If you want to avoid little fennel and oregano families, be sure to trim off the flowers before they go to seed.


Last year we added an herb garden.

Short term, long term, or both?

Plants generally fall into two categories: annuals or perennials.

Annual crops start from a seed, mature and bear fruit (or vegetable) in one season, then die. In our region, corn is an annual, as are cucumbers, watermelons, and tomatoes. Plants that can survive the winter to regrow for another crop season are typically perennials, Examples include asparagus, blueberries, artichoke, and rhubarb. This also applies to flowers, of course: sunflower (annual) versus rose (perennial). I tend to think of fruits in the perennial group: fruit trees and berries are perennials. Most vegetables (again, this is for my climate) are annuals. Obviously there are exceptions to this generalization, like the melon family.

To decide where to focus your gardening energies, you should know your climate zone. This will help you determine the length of your growing season and which annual crops are going to have time to ripen.

Perennials usually cost more than annuals initially (buying an apple tree sapling, for example), and will require patience. We planted asparagus two springs ago and are hoping for our first taste this April. But these plants are longer living, and give you bigger returns for relatively little work. Asparagus plants can live for twenty years before needing replacements; an apple tree may not bear a crop for the first five years, but may live to be one-hundred.

If you’re just getting your gardening feet muddy for the first time, I recommend annuals. Tomatoes are extremely rewarding, as are other salad fixings such as lettuce, spinach, cucumbers, radishes and carrots. Other easy crops to start with are beans, onions (or leeks/shallots), potatoes, and pumpkin (although this needs room to spread). Besides the instant gratification they provide, mistakes with annuals are easily corrected the next season without much expense. Did the birds eat all your peas? Try something next year to protect them. Has your corn crop failed? Next spring, try it in a sunnier place.


Our strawberry plants have spread like crazy in the past three years.

If you have enough space and the inclination, try a bit of both annuals and perennials. A strawberry patch won’t produce much the first year, but the plants will reproduce and spread to give you a bounteous crop. Dwarf fruit trees are a nice option if you are looking for an ornamental small tree; most have beautiful blossoms, too. And don’t forget those herbs!

We planted two apples, a pear, and prune. We also have a filbert and walnut.
(We never get many filberts — our yard is home to a Kingdom of Squirrels.)

Who are your gardening neighbors?

Tap those resources. Most gardeners love to talk about their plants. You can learn a lot about what works for your area by listening to their stories of success and failure. If you do a bit of pre-planning, you could also take part in a seed co-op. A typical tomato seed packet may hold 30 seeds — more than enough to split among four gardeners. Many vegetable starts are sold as single pots, but some come in six-packs that can be easily shared. With knowledge and experience, you can even harvest seeds from local gardens (with permission, of course) to plant the following spring. And if you’re lucky, when it’s time for the woman across the street to divide her lavender bush, she’ll share half with you!

Can you control yourself?

Most seed packets run only $2-$3, so they are tempting. But spending money and wasting your time on plants that won’t do well in your garden is an exercise in summer-long frustration. Evaluate your space and the soil and sun conditions. Learn to avoid catalog phrases such as “spreads quickly” or “freely self-sows” unless that’s what you really want. Don’t trust the catalog! The pictures are tempting, but they often show the plant only at its peak — what will it look like the rest of the time? Is it invasive? Poisonous? Hard-to-grow? Will it require constant maintenance? Use the internet and your library’s garden references to research seeds and plants before you buy them. I have found the internet to be a wonderful alternative to a knowledgeable nursery employee.

Do you have the time and money to grow your own food?

Gardening, initially, isn’t cheap. Besides plants and seeds, you’ll need garden tools, fertilizers, soil amendments, watering devices and a million other small things. But for those who savor its rewards, gardening is a labor of love. With time, and smart choices, having a kitchen garden does pay off financially. Herbs will pay for themselves quickly, and over the years, so will the berry bushes and canes, fruit trees and fresh vegetables. J.D. and I literally ate several hundred dollars of free homegrown berries this past spring and summer — all from a bit of our own labor, a few supplies and the investment of the canes and bushes. And that crop will only be bigger next year.

We’ve also dug up the lawn to plant grapes and caneberries.

Most gardens, even sizable ones, can be maintained with thirty minutes of work per day. Hoe weeds while they’re small, mulch properly, water wisely and be timely about harvesting. But if you let the garden tasks slip for a week or two, you may face a daunting task of huge weeds, spoiled crops or everything dead from lack of water. Gardening requires a time commitment if you want to reap the benefits.

Other Thoughts

If you are a beginning gardener, start small. Build on your successes. Be wise: it’s easy to dive in headfirst and then be overwhelmed. Research the plants you want to grow and the conditions they require, build a manageable raised bed if you’re starting from scratch, and use local resources to gain knowledge and cut costs.

Gardening requires a bit of seed money to begin, but the rewards are many! Healthier, fresher food, time in the great outdoors and a connection to nature, as well as engaging in an activity that can build community. And I haven’t even mentioned how much more excited kids are to eat their vegetables when they helped grow them or how people appreciate a homemade gift from the garden — whether a beautiful bouquet, and bunch of fragrant herbs, a fresh salad or a jewel-toned jar of jam.


In January fresh tomatoes are but a gardener’s dream.

Final Note

I recommend keeping your vegetable/fruit garden as organic as possible. One of the greatest benefits of growing your own is avoiding the pesticides (et al) on grocery-store goods. Insect diversity in your yard may be enough to keep pests in check; if you have an outbreak, simply try spraying with lightly soapy water, or other low-impact methods. If your soil is healthy and the plants are well-nourished, the plants will be strong and the bugs will be kept at bay.

This may not be practical in all climates, but here in Oregon, a few minutes each night hoeing will keep down the weeds, and the plants can take some munching by a bug or two once they’re established. With fertilizers, most choices are fine. I like an organic foliar spray — one that goes directly onto the leaves of my plants — but the crystalline concentrates that you mix with water can be fine as well, as long as your soil is already full of good organic matter and friendly worms.

Here are some additional resources:

Happy gardening!

Source: getrichslowly.org

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13 Min, 13 Secs ago

Planet Home’s Michael B. reminds me, “I miss every shot I don’t take.” The topics here in Orlando at the FAMP convention include not only prospecting, prospecting, and… prospecting, but also not missing a shot by offering clients more than a couple products. Freddie, Fannie, FHA, and VA are fine, but every client and referral source is precious, and what happens if someone walks through the door and needs a loan for a renovation (remodel), or a condotel, or a non-warrantable condo, or qualifies for a bond program, or… the list goes on. In the category of leads, have you looked into any local real estate investment clubs as a source of business? What about going after leads from divorce attorneys or local hard money lenders? Persistence! Another big topic at the FAMP conference is saving money, and STRATMOR’s current blog is titled, “Improving Revenue Might Be Right Under Your Nose.” (Today’s podcast can be found here and is sponsored by Candor. Candor’s patented automated underwriting decision engine, CogniTech, is a state-of-the-art, 100 percent machine platform that can handle infinite loan scenarios. Listen to an interview with Ally Home’s Glenn Brunker on the homebuyer affordability issue and potential ways to alleviate it.)

Lender and Broker Software, Products, and Services

School is back in session for the majority of America’s youth. But just because you are an adult doesn’t mean you should pass up on opportunities to polish your professional skillset. Surefire℠, Black Knight’s CRM and Mortgage Marketing Engine, has created Mortgage Marketing University (MMU) with free 101, 201 and 301-level courses designed to help brokers, LOs, LOAs and your marketing team get up to speed on best mortgage marketing practices and stay on top of their game. The MMU companion eBook is an ideal resource for your team to keep at its fingertips. Download the MMU eBook today.

Debuting Rebel Chics Media! “We understand the needs of the real estate industry and are here to help you engage, “edutain” and inspire homebuyers with branded social content. Our agency-quality subscription content, along with writing prompts, allows you to address the questions and concerns of potential homeowners. This content is ideal for LOs, banks, credit unions, and Realtors looking to build a strong social brand. Benefit from 50+ years of combined industry experience of our founders, Jillian Sorensen & Dana Trajcevski. Move beyond generic posts like Spring Cleaning tips and Pumpkin Pie recipes, and instead, unlock the power of storytelling. Now is the perfect time to build your brand, and Rebel Chics Media is here to support you. We understand that you’re busy and don’t have the time, energy, or tools to create content yourself. Leave that to us and focus on growing your brand and connecting with your audience.”

Brokers can now shop, lock, and deliver on one platform that seamlessly connects brokers, lenders, and originators. In this market, hustle is everything. You can’t afford to waste a single deal… or a single minute. That’s why ReadyPrice has launched its innovative new Shop, Lock & Deliver loan exchange platform, designed to help independent mortgage brokers like you save time and money. Now you can shop competitive loan offerings from multiple lenders, get rate lock guarantees in real time, receive underwriting findings, and deliver the borrower’s complete loan file to lenders, and all on a single platform, at no cost to brokers. It’s the industry’s most powerful universal delivery portal, and it’s already helping thousands of brokers around the country thrive and compete in even the toughest market environments. Multiple lenders. One platform. Zero b.s. Come check ReadyPrice out today.

TPO Programs for Brokers and Correspondents

Profitable mortgage companies are focused on the long-term value of the customer relationship. Essex Mortgage’s partners enjoy greater customer retention, GNMA pass-thru pricing, no overlays, no LLPAs, NO EPOs, and NO EPDs. They also receive Tax Deferred asset growth and a long-term cash flow stream without having to be a GNMA issuer themselves. Please contact us to discuss how the Essex GNMA Excess MSR program can help retain and enhance your customer relationship, broaden guidelines, and expand into new markets. Please contact Kimberly Schenck.

Push strongly through the summer buying season with Luxury Mortgage Corp. (“LMC”). LMC is offering a 100-bps price special for newly locked Full and Alt Doc (Bank Statement, 1099 Only, Asset Qualifier) purchase loans until August 31st. LMC’s elite team isn’t stopping there; they are also offering a 50-bps pricing improvement on DSCR purchase loans! Click here for full details of the specials. Are you, not an approved broker? It’s time to align with true partners who will be here for you and execute at the highest levels. Take your business to sustainable new heights with the elite team. Click here to become an approved wholesale broker.

Investor and Agency News

Ginnie Mae launched a New Environmental, Social, and Governance (ESG) Composite and Webpage, view the Press Release.

USDA Rural Development issued Updated HB-1-3555, Chapter 3, Lender Approval bulletin on 07/24/2023.

On 7/26/2023, with Amendment No. 6 to DR-4720, FEMA declared federal disaster aid with individual assistance made available to Vermont’s Orleans County affected by severe storms, flooding, landslides, & mudslides from 7/7/2023 and continuing. See AmeriHome Mortgage Disaster Announcement 20230706-CL for inspection requirements.

AmeriHome Correspondent 20230702-CL Disaster Announcement. On 7/14/2023, with DR-4720, FEMA declared federal disaster aid with individual assistance has been made available to 6 Vermont Counties; Chittenden, Lamoille, Rutland, Washington, Windham and Windsor affected by severe flooding from 7/7/2023, and continuing. See the attached announcement for inspection requirements.

PHH Mortgage had a Disaster Alert for Vermont and California. “The following disaster declaration is being issued or modified today pertaining to: Vermont DR-4720: New Disaster declared 07/14/23, and California DR-4699: Update to End Date of Occurrence.

Citi Correspondent Lending Bulletin 2023-06 includes credit policy updates on mortgage assumptions, public assistance & Section 8 income, and unplanned buydowns. Mandated screening – submitting non-obligated party detail notification, and clarifications on restricted stock & non-vested stock, and Chinese assets.

Collectively, average older homeowners sit on over $9 trillion in equity and have an average retirement savings is less than $60,000. But through a reverse mortgage, senior homeowners can maximize their financial stability by unlocking the accumulated equity without selling their property, allowing them to access the increased value of their homes and provide a financial cushion in a rising housing market. The time is now to build your reverse mortgage business with Plaza Home Mortgage®. We have the programs, including FHA HECM. Plus, we offer training and dedicated reverse mortgage staff to get you rolling into this right. Email [email protected] to get in touch or submit your details for a full reverse pre-qual.

In Pennymac announcement-23-49, the go-live date of Extended Lock Commitments was revised to “TBD,” and the updated schedule will be communicated through a future announcement.

American Heritage Lending Wholesale offers DSCR No Doc Loans including Non-Warrantable Condos.

On June 27, 2023, FHA published ML-2023-13 announcing that it is adopting the Fannie Mae/Freddie Mac Form 1103, Supplemental Consumer Information Form (SCIF) for mortgage applications dated on or after August 28, 2023. See AmeriHome Mortgage Product Announcement 20230705-CL.

Fairway Wholesale Lending Client Announcement 2022-07-27 issued a reminder about its new Admin Fee schedule that went into effect for all applications dated on or after 7/26. They will work through a transition period with the Admin Fee as this change becomes effective with applications taken & loans disclosed on & after Wednesday, 7/26. Fairway will begin using the new fee schedule for all loans we issue initial disclosures effective Wednesday, 7/26.

Capital Markets

Call it whatever you want, or believe whatever you want, in the rating agency Fitch’s downgrade of U.S. Treasury debt, one of things highlighted was the Jan. 6 insurrection. Once again, a reminder that politics, interest rates, and mortgage banking are intertwined. But overall, despite the increased hikes by the Federal Reserve, for the most part the U.S. economy continues to chug along.

Today we saw the “first Friday of the month” jobs situation figures. But it seems that the unemployment rate is not a leading economic indicator. Looking back at changes in U.S. unemployment rate data since 1953, a period including 10 recessions, on average the unemployment rate has not noticeably changed during the 12 months leading up to a recession. Dr. Elliot Eisenberg, Ph.D. points out that, “But once the recession begins, the unemployment rate slowly rises and peaks 12 months later at a level three percentage points higher than when the recession began.”

Yesterday began with the Bank of England raising UK rates to a 15-year high, though investors domestically continued to react to the U.S. credit downgrade by Fitch Ratings, which led to another “bear steepener” in the bond markets. “Risk-off” themes were present, and Wednesday’s route in U.S. Treasuries spilled over into yesterday’s session. The 10-year yield rose to a 9-month high as market participants took a closer look at rising debt-service levels.

The downgrade of U.S. government debt to AA+ from AAA by Fitch on Tuesday won’t affect the U.S. economy much and puts the Fitch rating at the same level as S&P, which made the downgrade in 2011. A couple other reasons not to worry include debt ratings mattering much more for emerging economies, most bond traders will keep buying U.S. debt at the same level, and the Fed can essentially set the interest rates on U.S. debt, anyway.

On the data front, weekly jobless claims increased by 6k to 227k while the ISM Non-Manufacturing Index and the Manufacturing PMI report showed a deceleration in growth consistent with reports from other major economies. Services sector activity continued to expand in July, but at a slower pace than the prior month. Even so, the report said that the majority of respondents remain cautiously optimistic about business conditions and the economy. Finally, productivity increased 3.7 percent in the second quarter, well above 1.7 percent expectations, with output up 2.4 percent and hours worked down 1.3 percent. Unit labor costs, meanwhile, were up 1.6 percent, lower than expected and which reflected a 5.5 percent increase in hourly compensation and a 3.7 percent increase in productivity. The pickup in productivity and the deceleration in unit labor costs is a good combination for the soft-landing view. After one of the better-than-expected releases this week was the ADP report which reported 324k in private jobs creation versus 189k expected, risks for an upside surprise in nonfarm payrolls were raised.

As for that BLS report, nonfarm payrolls increased 187k versus 200k expectations and back months were revised down 49k jobs. The unemployment rate dropped to 3.5 percent, and average earnings are still solid versus 0.3 percent month-over-month and 4.2 percent year-over-year expectations. After any knee jerk reaction, the Treasury market will begin setting up for next week’s $103 billion Quarterly Refunding beginning Tuesday with $42 billion 3-year notes followed on Wednesday and Thursday by $38 billion 10-year notes and $23 billion 30-year bonds. Both 3-years and 30-years were increased by $2 billion and 10-years by $3 billion versus the prior Quarterly Refunding. We begin the day with Agency MBS prices unchanged from Thursday, the 10-year yielding 4.19 after closing yesterday at 4.19 percent, and the 2-year up to 4.89.

Jobs and Transitions

William “Bill” Sohan, an industry veteran and former Senior Vice President with Academy Mortgage, has joined employee-owned USA Mortgage as a regional Vice President. Sohan will oversee USA’s Maryland operations and work to expand its national footprint. “I found USA’s loan-officer-first mentality, freedom for their regional leaders, and transparent work environment very attractive,” he said. “I am in business for myself, but not by myself. It’s a huge advantage that USA is run by former high-producing loan officers who understand the needs of their salespeople. I’m excited to give my sales team access to some great new resources, while still maintaining their access to Fannie and Freddie direct and dozens of loan programs.” Founded in St. Louis in 2001, USA has offices in 34 states and is licensed in 49 states plus the District of Columbia. For a confidential conversation about joining USA, contact Brooke Anderson at 609-500-1520.

Presidential Bank Mortgage is expanding into the Southeast! John Pruitt, former Director of Fidelity Bank Mortgage in Atlanta, has joined the senior management team of the Bethesda, Maryland-based Community Bank as SVP of Production and Strategic Initiatives. “I’m so excited to join Presidential at this opportune time in the industry to help grow a best-in-class mortgage lending platform,” Pruitt said. “The combination of a solid Community Bank and entrepreneurial mortgage lending model is truly unique in our industry.” Expansion plans are underway to open full-service lending markets in Georgia and the Carolinas. Leadership, Sales, and Operations positions are available throughout the region. Please send your confidential inquiry to John Pruitt.

Academy Mortgage is proud to be among the small number of lenders who have been selected to offer the Freddie Mac BorrowSmart Access℠ program. This equitable housing program allows qualified first-time homebuyers looking to purchase a home within one of 10 eligible metropolitan markets to obtain a credit for their down payment and/or closing costs through combined contributions from Freddie Mac and Academy Mortgage. Through this assistance, borrowers can fund 100 percent of the cash required to close; prepare for long-term sustainability through homeownership; and receive pre-purchase homebuyer counseling through the Freddie Mac BorrowSmart Access program. Academy is proud to support this initiative to bring equitable housing opportunities to traditionally underserved communities. Academy is committed to fulfilling its Vision to Inspire Hope, Deliver Dreams, and Build Prosperity in all communities by helping its clients build generational prosperity through homeownership. Join a team with the loan products and the Vision to advance housing for underserved communities: contact Scott Starr to explore the possibilities that await at Academy.

 Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

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Are you struggling with debt and feeling overwhelmed? You might also be tired of hearing the same old tips that don’t help at all, like “Don’t buy coffee out” or “Just stop spending money.” Don’t worry — you’re not alone.

Many hardworking individuals like you face similar challenges. The good news is that there are effective strategies for paying off debt faster, even on a tight budget.

This guide will walk you through 10 practical and actionable steps that can significantly impact your journey to financial autonomy. Are you ready to better control your finances? Here is how to pay off debt fast with low income.

In This Piece:

  1. Take Inventory of Your Debts
  2. Create a Realistic Budget
  3. Avoid Any New Debts
  4. Try the Debt Avalanche Method
  5. Consider the Debt Snowball Method
  6. Increase Your Income
  7. Negotiate a Better Rate
  8. Increase Your Credit Score
  9. Consider Debt Relief or Consolidation
  10. Stay Consistent

Step 1: Take Inventory of Your Debts

Before tackling your debts, taking inventory of them is a crucial first step to clearly understanding what you owe, allowing you to understand the full extent of your financial obligations, and developing a comprehensive and more effective action plan.

Start by gathering all your financial statements and creating a comprehensive list of your debts. This includes credit card balances, student loans, medical bills, and other outstanding obligations.

You gain a complete picture of your economic landscape by documenting each debt, including the creditor, outstanding balance, interest rate, and minimum monthly payment. This knowledge empowers you to make informed decisions and prioritize debt repayment strategies.

Step 2: Create a Realistic Budget

A budget can help track your income and expenses, clearly showing where your money goes, but if you want a successful budget, it needs to be realistic.

Creating a realistic budget is essential to pay off debt fast with a low income. You can start by identifying areas to cut back on unnecessary expenses, like reducing discretionary spending, such as eating out. Look for creative ways to save money, such as using coupons, shopping sales, or negotiating lower bills. Though this is good advice, it might not be enough or as simple as it sounds.

Here are more steps and tips to help you create a budget that could work for you:

  1. Track income and expenses: Start by calculating your total monthly income, including your salary, freelance earnings, or any other sources of income. Next, track your expenses for a month to understand where your money is going. Categorize your expenses into fixed costs (rent, utilities, etc.) and variable costs (groceries, entertainment, etc.). 
  2. Set attainable goals: Determine how much you can allocate toward monthly debt payments while covering your essential expenses. It’s crucial to set realistic goals that consider your income. Remember, even small monthly contributions can make a significant difference over time.
  3. Prioritize debt repayment: Allocate a specific portion of your budget to debt repayment. Consider prioritizing your debts using the debt avalanche or snowball methods mentioned earlier. By focusing on one debt at a time while making minimum payments on the others, you can make steady progress and gain a sense of accomplishment.
  4. Monitor and adjust: Regularly review your budget and track your progress. Adjust as needed to stay on track and meet your financial goals. Be flexible and willing to adapt your budget as your circumstances change.

Creating a realistic budget requires discipline and commitment, and it’s crucial to paying off debt. By understanding your income, tracking your expenses, and making intentional choices, you can take control of your financial situation.

Step 3: Avoid Any New Debts

It might sound obvious but avoiding new debts can help greatly. Avoid the temptation to rely on credit cards or take out additional loans. Instead, focus on living within your means and prioritizing your financial goals. Of course, implementing this step is easier said than done.

Here are some recommendations to help you avoid accumulating additional debt:

  • Change your mindset: Understand that taking on new debts will only prolong your journey to becoming debt-free. Embrace living within your means and making conscious choices to avoid unnecessary borrowing will help you pay off your debt faster.
  • Cultivate healthy financial habits: Practice mindful spending, distinguishing between needs and wants, and make conscious choices aligned with your financial goals.
  • Building an emergency fund: This is a crucial step to prevent relying on credit or loans during unexpected expenses or financial setbacks. Start by setting aside a small amount from your monthly income until you have a comfortable cushion to cover unforeseen emergencies.
  • Practice delayed gratification: Avoid impulsive purchases and practice delayed gratification. Before making a nonessential purchase, give yourself a 24-48 hour cooling-off period. This allows you to assess whether the item is a genuine necessity or a momentary desire.
  • Seek alternative solutions: When faced with financial needs, explore alternatives before committing to new debts, like borrowing from friends or family, negotiating payment plans with service providers, or seeking assistance from local community resources or nonprofit organizations that offer financial aid or low-interest loans.

Remember, avoiding new debts requires discipline and commitment. By adopting a proactive approach to managing your finances and being mindful of your spending, you can stay on track toward paying off your existing debts and achieving financial freedom. Stay focused, make intentional choices, and celebrate your progress.

Step 4: Try the Debt Avalanche Method

The debt avalanche method is a powerful strategy for paying off debt efficiently. With this approach, you prioritize the debts based on interest rates. Additionally, this method provides a clear road map for debt repayment, allowing you to stay focused and motivated as you see progress with each debt you eliminate.

Start by arranging your debts in descending order based on their interest rates, with the highest interest debt at the top of the list. This order will determine the repayment priority. Doing this minimizes the interest that accrues over time, saving you money in the long run. Once you pay off the highest interest, move on to the next one and continue the process.

Remember to continue making at least the minimum payments on all your debts to maintain a good credit standing and avoid penalties. By staying committed to this method and directing your extra funds strategically, you’ll make significant strides toward paying off your debts.

Step 5: Consider the Debt Snowball Method

Another effective debt repayment strategy is the Debt Snowball method. It involves listing your debts from smallest to largest balance and focusing on paying off the smallest debt first while making minimum payments on the others. Once you pay off the smallest debt, you apply the money you were putting toward it to the next smallest debt.

Begin by creating a comprehensive list of all your debts, including credit cards, personal loans, student loans, and other outstanding balances. Arrange your debts in ascending order based on their balances, with the debt carrying the lowest balance at the top of the list. This order will determine the repayment priority.

Continue focusing on one debt at a time until you can pay off all your debts. The debt snowball method is advantageous because it focuses on building momentum and providing a sense of accomplishment by creating small wins, motivating you to continue your debt payment journey.

While this method may not prioritize debts based on interest rates, it provides a structured and motivating approach that can be particularly beneficial for individuals seeking emotional and psychological encouragement along their debt repayment journey.

Step 6: Increase Your Income

How to get out of debt when you are broke? Finding ways to increase your income can significantly impact you but can also be challenging. Consider taking up a side hustle or part-time job to generate extra money.

There are numerous opportunities available, such as freelance work, online tutoring, or selling handmade crafts. Dedicating your additional income solely to debt repayment accelerates your progress. It helps you achieve financial goals sooner, and if everything goes well, you’ll only need to do this for a short time.

Here are a few ideas on how to make extra money to pay off debt fast:

  • Explore freelance opportunities in your field of expertise
  • Take on part-time jobs or gig work
  • Monetize your hobbies or skills
  • Consider renting out a spare room or property
  • Participate in online surveys or market research studies
  • See if you qualify for blood and plasma donations, some places pay for this help

Step 7: Negotiate a Better Rate

Lowering the interest rates on your debts can help you save money and pay them off faster. Reach out to your creditors and explore the possibility of negotiating a lower interest rate. Even a slight reduction in interest rates can make a significant difference.

Here’s a detailed explanation of how to negotiate a better rate and why it can be beneficial:

  1. Review your current rates: This includes credit cards, personal loans, and other forms of debt. Take note of the interest rates, promotional offers, and the terms and conditions associated with each debt.
  2. Research and compare: Understand market rates basics and terms for similar financial products. This will provide you with a baseline for negotiation and help you determine if your rates are higher than what is commonly available. Look for competing offers, promotions, or lower interest rates from other lenders or credit card companies.
  3. Prepare your case: Highlight your payment history, creditworthiness, and loyalty as a long-term customer. Compile improved financial stability or credit score evidence since you obtained the debt. The goal is to present a compelling case for why you deserve a better rate.

If negotiating directly with your creditors doesn’t yield the desired results, consider other options like balance transfers or refinancing.

Balance transfers involve moving high-interest debt to a credit card with a lower interest rate, often with an introductory 0% interest period. Refinancing involves replacing an existing loan with a new one with better terms and a lower interest rate. Both options can help reduce the overall interest you’ll pay and accelerate your debt payoff.

Step 8: Increase Your Credit Score

Improving your credit score can have a positive impact on your financial well-being. A higher credit score can lead to lower interest rates on future loans and credit cards, potentially saving you thousands of dollars in the long run. To boost your credit score, make timely payments, reduce your credit card balances, and keep your credit utilization ratio low. Regularly review your credit reports to identify and address any errors or discrepancies.

Step 9: Consider Debt Relief or Consolidation

If your debts feel overwhelming and unmanageable, exploring debt relief or consolidation options might be a viable solution. Debt relief programs, such as credit counseling or debt settlement, can help you negotiate with creditors to reduce the amount you owe or establish more manageable payment plans.

Debt consolidation allows you to combine multiple debts into a single loan with a lower interest rate. However, it’s essential to research and choose reputable organizations to ensure you make an informed decision that aligns with your financial goals.

Step 10: Stay Consistent

So, what is the best way to pay off debt fast? Consistency is always key. Make your debt repayment a priority and stick to your plan. Celebrate small victories along the way to stay motivated and maintain your momentum.

Remember, achieving financial freedom takes time and dedication. You can overcome your debts and build a brighter financial future with persistence.

Congratulations on taking the first step toward improving your financial well-being. Remember, Credit.com is here to support you on your journey.

Explore our ExtraCredit® program, which provides valuable resources to help you monitor and manage your credit for a small monthly price Or sign-up for our free service that provides an Experian Vantage 3.0 score along with a free credit report card.

Source: credit.com

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Plainfield, IL, is a small suburb southwest of Chicago known for its strong community, abundant nature, and rich history. From its picturesque parks and historic downtown area to its vibrant community events and diverse culinary scene, Plainfield embodies a lifestyle that appeals to many. But what’s it like living here? 

If you’re looking at homes for sale in Plainfield, apartments for rent, or are just curious about what the city has to offer, this Redfin guide is for you. To give you a taste of what you can expect, read on for 7 reasons to move to Plainfield, IL. 

1. Affordable cost of living 

Plainfield has a pretty affordable cost of living compared to other cities in the United States. Housing costs, in particular, are affordable and just below par with the national average. For example, the median sale price of a house in Plainfield is $415,000, $10,000 below the national average. This makes Plainfield an attractive option for those looking for an affordable place to live near Chicago.

Renting is also more affordable than a majority of the country; the average one-bedroom apartment costs $1,750, which is $250 below the national median.

2. Outdoor activities

With nearly 100 parks and trails, outdoor enthusiasts will never run out of options in Plainfield. The DuPage River provides a scenic backdrop for fishing and kayaking, while the Lake Renwick Preserve offers great bird-watching opportunities. And if you’re looking for a day trip, consider heading out to the Baker County Forest Preserve or the Midewin National Tallgrass Prairie. No matter what you choose, the area’s outdoor spaces provide everyone with plenty of ways to enjoy nature and stay active.

3. Historic downtown

Officially the Village of Plainfield, this city is full of history. The downtown area of Plainfield is especially filled with charm, characterized by historical buildings housing local businesses, unique shops, and restaurants. It’s a great spot for a leisurely stroll, a delicious meal, or some retail therapy. The city also hosts regular events, like Cruise Night, which add to the lively atmosphere. 

4. Convenient location

Conveniently situated near Naperville and just 35 miles from Chicago, Plainfield residents can easily access the larger city amenities and job opportunities. Excellent road connections and frequent buses to nearby cities make commuting a breeze, whether you’re headed to the office or planning a day out in the city. However, public transportation within Plainfield is very limited. 

5. Community events

A great reason to move to Plainfield is its calendar full of community events throughout the year. From markets in the spring and summer to holiday festivals in the winter, there’s something for everyone.

Consider visiting Settlers’ Park for concerts and movies during the summer, or strolling through the local farmers’ market on Sundays. During the winter, there are plenty of holiday events, including the Plainfield Holiday Artisan Market, parades, light festivals, and more. These events bring the community together and are a big part of what makes Plainfield a great place to live.

6. Diverse culinary scene

Plainfield’s culinary scene is growing, diverse, and exciting. From local American comfort food to authentic international cuisines, the city’s restaurants have something to offer every palate. If you’re in the mood for great food, consider visiting Sovereign, Imperial Kitchen, or Station One Smokehouse. This diversity not only means you’ll never run out of new dishes to try, but it also enriches the overall living experience in Plainfield.

However, the city lacks late-night options that many cities offer. This means you may have to commute for a fun night out. 

7. Growth and development

Over the past two decades, Plainfield has been experiencing a significant increase in population. From 1990 to 2021, the city’s population increased from 4,557 to over 44,000, turning from a small town into a thriving suburban city. 

Additionally, the city’s economic growth has been consistent over the years, reflecting a healthy local economy. This growth provides a variety of job opportunities and supports a robust local business scene. Whether you’re seeking employment or considering starting a business, Plainfield’s economic landscape is conducive.

Source: redfin.com

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Nestled along the picturesque coastline of Southern California, Malibu is a idyllic city that captivates with its breathtaking beauty and vibrant community. This charming city not only allures those seeking a luxurious beachfront living experience with exquisite homes for sale, but also welcomes those searching for apartments for rent in Malibu. 

While the cost of living in Malibu is high, the city offers a wealth of natural wonders and fun activities you can enjoy without breaking the bank. This Redfin article will explore seven free things to do in Malibu to keep you and your wallet happy. Let’s get started! 

1. Malibu beaches

Malibu is renowned for its stunning beaches that attract millions of people year-round. From the expansive shores of Zuma Beach to the rugged beauty of Point Dume State Beach, there’s something for everyone. Living in Malibu, CA, comes with strolls along the sandy coastline, opportunities to soak up the sun, and moments of serendipitous sounds of crashing waves. Whether you’re looking to catch some waves, have a beach picnic, or relax with a good book, Malibu beaches offer a slice of paradise that’s free for all to enjoy.

2. Malibu Creek State Park

Nature enthusiasts and hikers will solace in Malibu Creek State Park’s breathtaking landscape. This beautiful park features diverse hiking trails, from easy walks to challenging treks. Explore the picturesque Rock Pool, where you can cool off in the refreshing waters or have a peaceful picnic by the stream. The park’s rugged terrain, oak woodlands, and rich wildlife make it a haven for outdoor exploration and a perfect spot to connect with nature without spending a dime.

3. Getty Villa Museum

Nestled in the hills overlooking the Pacific Ocean, the Getty Villa Museum is a must-visit destination for art and history enthusiasts. Showcasing an extensive collection of ancient Greek, Roman, and Etruscan artifacts, the museum offers a glimpse into the classical world. Wander through the meticulously designed gardens, admire the architecture inspired by ancient Roman villas, and enjoy the educational exhibits. Although admission is free, reserve your tickets in advance to experience this cultural gem.

4. Solstice Canyon

Embark on a scenic hike through Solstice Canyon, a lush oasis filled with oak groves, sycamore trees, and vibrant wildflowers. The Solstice Canyon Loop Trail takes you on a journey to the historic Roberts Ranch House ruins and culminates at the flowing Solstice Canyon waterfall.

5. Leo Carrillo State Park

Leo Carrillo State Park offers a coastal wonderland with sandy beaches, rocky tide pools, and picturesque sea caves. This park is perfect for beachcombing, exploring marine life, and enjoying a peaceful day by the ocean. The beautiful coastal views, tide pool discoveries, and opportunities for beach activities make Leo Carrillo State Park an ideal destination for those seeking free outdoor adventures in Malibu.

6. Malibu Pier

The historic Malibu Pier stands as an iconic landmark along the coastline. Stroll along the wooden pier and bask in the panoramic views of the Pacific Ocean. It’s an excellent spot for watching local surfers ride the waves, spotting marine life, and capturing stunning sunset photos. With its free access and inviting atmosphere, the Malibu Pier is a popular gathering spot for locals and tourists.

7. Pepperdine University

If you’re planning where to attend university, take a leisurely walk around the beautiful Pepperdine University campus. The expansive campus is perched atop a hill overlooking the ocean. Enjoy the stunning vistas and serene environment as you explore the well-maintained grounds. The university’s impressive Payson Library and the terrace with sweeping ocean views are open to the public, offering a peaceful retreat to read, study, relax, and appreciate the campus’s natural beauty.

Source: redfin.com