Diane Horrigan - RE/MAX  Trinity



Posted by Diane Horrigan on 5/1/2019

Ginnie, Freddie, and Fannie are friends of the real estate mortgage and housing industry. You hear about them whenever you read very deeply about how mortgages work. But who are they? And what do they have to do with you?

What’s in a name?

These three entities are nicknames for mortgage agencies established by the United States Government. Freddie and Fannie are siblings, while Ginnie is more of a cousin.

- Fannie Mae is the nickname for FNMA-the Federal National Mortgage Association.

- Freddie Mac is the nickname for FHLMC-the Federal Home Loan Mortgage Corporation.

- Ginnie Mae is the nickname for GNMA-the Government National Mortgage Association.

A little family historyBoth Fannie and Freddie are what is commonly known as a GSE, or government-sponsored entity. That means that while federal law established Fannie in 1938 to provide home loans backed by the US government, it later sold Fannie in 1968 to investors, making it privately owned. Freddie, established in 1970, formed to create competition for Fannie in the mortgage market. Fannie and Freddie don't lend money. Instead, they undergird the home loan market by purchasing loans made by banks. They repackage the loans into securities to sell to investors. They make various guarantees to investors in the event that homeowners default on their mortgages. This market is called the secondary mortgage market, while primary means the loans to homeowners directly. 

Both Freddie and Fannie trade in the public market with investors owning shares of each of the mortgages rather than shares of the company. In the market, this is called mortgage-backed securities (bonds). If a homeowner defaults on their mortgage, it affects the value of those securities.

Cousin Ginnie, formed in 1968, is a government agency, but performs similar functions to the siblings, except only with government-insured mortgages, like FHA and VA loans—those backed by the Federal Housing Administration. While she does not supply initial funding, she does insure the loans. So, if a borrower with an FHA loan defaults, both the Federal Housing Agency and Ginnie Mae continue to pay out monies due to the investors that bought Ginnie Mae-backed securities.

During the subprime lending crisis in 2008, both Freddie and Fannie lost tremendous value. People that invested in Freddie or Fannie bonds lost tons of money. At that time, in an effort to stabilize the housing industry, the federal government took over as conservator of both Freddie and Fannie, providing money to bail out much of the debt and pay investors. Conservancy means that the government controls the operations of both entities, although it does not own them.

Why does it matter?

Mostly, what happened to Freddie, Fannie and Ginnie matters more to investors than to borrowers. But the healthier Freddie and Fannie are, the greater the variety of loan types available to borrowers. The less Ginnie has to pay out to cover defaulted mortgages, the more money available to loan to first-time borrowers. 

If you’re wondering which loan-type is best for you, contact a qualified mortgage broker to discuss your options.




Tags: Real Estate   Mortgage   Terms  
Categories: Mortgage   Real estate   terms  


Posted by Diane Horrigan on 4/24/2019

If you recently bought or sold a home, you likely need to move quickly to pack up your family's belongings. In fact, you may have only a limited amount of time to get your child's toys packed up and ready to go to your new address.

Ultimately, packing a child's toys can be quick and simple – here are three essential packing tips for toys that every parent needs to know.

1. Make a List of Your Child's Toy Inventory

If your child has a wide selection of big and small toys, you may want to make a list of toys that need to be packed up prior to moving day. That way, you can ensure that all of your child's toys will make it from Point A to Point B.

As you create your list, think about the toys that your child uses frequently. If possible, you'll want to avoid packing these toys until the last possible moment.

On the other hand, you can immediately start packing toys that your child rarely uses. Pack up as many toys as you can, and you may be able to minimize stress as moving day draws closer.

2. Involve Your Child in the Packing Process

Packing can be a stressful process for kids and parents alike. Fortunately, you can involve your child in the packing process to help your son or daughter prep for moving day.

In many instances, children can pack up toys on their own. Kids may require supervision while they pack, but with the help of their parents, these children can get their toys ready for an upcoming move.

With the right approach, packing can be a fun bonding activity for parents and kids. Together, parents and children can pack up toys and other items and ensure all of a family's belongings can safely be transported from one destination to the next.

3. Pack and Label Your Moving Boxes

Parents will want to guarantee that no toys are broken or damaged during a move. As such, it is essential to use bubble wrap, packing paper and other packing supplies to ensure all of a child's toys remain intact.

Furthermore, parents will want to make it easy for kids to find their toys as soon as a family reaches its new address. If you use bright markers to label moving boxes that contain a child's toys, your son or daughter can instantly unpack his or her toys and start getting settled into a new home.

If you need extra help getting ready for a move, you may want to consult with a real estate agent as well. In addition to helping you buy or sell a house, a real estate agent can put you in touch with the best moving companies in your area.

Don't leave anything to chance as you prepare to move to a new location – use the aforementioned tips, and you should have no trouble packing up your child's toys.




Categories: Moving Tips   packing  


Posted by Diane Horrigan on 4/17/2019

Moving into a new home means there is a new canvas to decorate and express personalities. If you love traveling or have a kid that likes to go places, then a new home is an opportunity to incorporate a travel theme into the home design. Even if you are not a frequent flyer but have dreams of visiting many places in the world, there are many ways to showcase it in your home décor style.

  1. Classic Suitcases. Vintage suitcases make for excellent storage spaces and give an antique style to any living area. You can have an old classic trunk in the living room to keep books and other items in the living room instead of a regular storage ottoman. Classic suitcases also work for holding clothes, blankets, and socks in a bedroom.
  2. Travel-themed decorations. You can pick from a selection of countries to represent places you have been in forms of throw pillow covers in your living area. You can even make them places you would like to visit. Picture frames, art, and other travel-related items can show off your quest to visit new horizons.
  3. Map Wallpaper. Turn any wall to a travel map by installing a wallpaper. You can go one step further in your design by using an old-style map instead of the new modern ones. Decorate your map wall further by hanging postcards and souvenirs from places you have visited on the map wall. Sticky notes and pins can also mark destinations that you dream to visit.
  4. Time zone clocks. Fully inclusive time zone clocks show many world destinations alongside a map. Such a clock series can serve as a focal wall in your home. Another way to achieve this time zone look is to buy several different clocks and decorate them with frame labels bearing the city names.
  5. Globe collections. Globes are one of the most popular and obvious representations of travel. They are also one of the simplest ways to make it apparent to visitors that you love traveling. Functionally, there are different globe-themed furniture that can serve other functions in your living space. These pieces include globe bars that can hold several bottles of wine and glasses while decorating your home too. Smaller globes can also be desktop topers or ornaments for your nightstand.

Making your travel-themed home doesn’t have to be complicated. Check out any home décor store for items that will make your home travel-approved!





Posted by Diane Horrigan on 4/11/2019


114 Harvard Street, Everett, MA 02149

Condo

$439,900
Price

5
Rooms
2
Beds
1/1
Full/Half Baths
LAST UNIT!! NEW CONSTRUCTION -Two Level Townhouse with Amazing City Views!! Enjoy this Gorgeous 2 BED/1.5 BATH located Just Minutes from Boston, Rt 1, Assembly Row, and the New Casino!! This Spacious Floor Plan enjoys Lots of Natural Light. Features incl Custom Granite Kitchen with SS Appliances, Hardwood Floors, Tiled Bathrooms, Good Size Bedrooms and Plenty of Closet Space! All New Foundation w/ Full Basement Offers 500sf of Potential Expansion. Plus 2 Car Parking in Rear Lot! Additional Upgrades include all NEW Electric, Plumbing, Mitsubishi Split Heating / AC Systems, Windows, Vinyl Siding, Roof and More!! Open House Sunday from 12:00 - 2:00
Open House
Sunday
April 14 at 12:00 PM to 2:00 PM
New Price! And Last Unit....Stop by and take a look!
Cannot make the Open Houses?
Location: 114 Harvard Street, Everett, MA 02149    Get Directions

Similar Properties





Tags: Everett   Real Estate   Condo   Open House   02149  
Categories: Open House  


Posted by Diane Horrigan on 4/11/2019


114 Harvard Street, Everett, MA 02149

Condo

$439,900
Price

5
Rooms
2
Beds
1/1
Full/Half Baths
LAST UNIT!! NEW CONSTRUCTION -Two Level Townhouse with Amazing City Views!! Enjoy this Gorgeous 2 BED/1.5 BATH located Just Minutes from Boston, Rt 1, Assembly Row, and the New Casino!! This Spacious Floor Plan enjoys Lots of Natural Light. Features incl Custom Granite Kitchen with SS Appliances, Hardwood Floors, Tiled Bathrooms, Good Size Bedrooms and Plenty of Closet Space! All New Foundation w/ Full Basement Offers 500sf of Potential Expansion. Plus 2 Car Parking in Rear Lot! Additional Upgrades include all NEW Electric, Plumbing, Mitsubishi Split Heating / AC Systems, Windows, Vinyl Siding, Roof and More!! Open House Sunday from 12:00 - 2:00
Open House
Sunday
April 14 at 12:00 PM to 2:00 PM
New Price! And Last Unit....Stop by and take a look!
Cannot make the Open Houses?
Location: 114 Harvard Street, Everett, MA 02149    Get Directions

Similar Properties





Tags: Everett   Real Estate   Condo   02149  
Categories: Price Change