September 2010

There are 5 blog entries for September 2010.

A reverse mortgage called the Home Equity Conversion Mortgage can be used to borrow against your current home's equity to buy or make a down payment on another primary home. How much you can borrow varies, depending on your age, the value of your home and interest rates. You will, of course, have to make up any difference between the proceeds of this mortgage and the sales price and closing costs of the home you want to buy. But if these costs are less than the proceeds, you pocket the difference. HECMs are insured by the Federal Housing Administration. The loan requires that you pay a mortgage insurance premium that's the lesser of 2% of your home's value or the HECM mortgage limit for your area, as well as a monthly fee that's .5% of your mortgage…
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The Steamboat Springs Bike Town USA Initiative members have worked over a year to present next month's free three-day event at the Steamboat Grand. 

The goal will be to allow a wealth of experts from across the United States and specializing in all sorts of cycling issues to help paint the picture of what bicycling could become in the near future for Steamboat.

Renowned bike-friendly town Boulder will be represented to talk about the city's transportation systems and the increased quality of life possible with extensive biking initiates.

Jackson, Wyo, representatives will speak about their city's extensive and well-connected system of biking and hiking trails and paths.

The freerode-trail-building gurus from Gravity Logic will be on hand to talk

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With mortgage rates falling to record lows this summer and housing market becoming more active, refinancing activity is perking up. 

The refinancing equation has never been more complicated.  While some borrowers are desperate to reduce their monthly payments, others are looking to build equity.  Some are even treating their mortgage as an investment vehicle, sinking cash into their homes in order to secure a lower rate and cut future payments.

Refinancing generally costs 3% to as much as 6% of the outstanding principal of the loan, with banks levying fees on everything from application fees and title searches to appraisal costs and legal expenses.  (Mortgage "points" can add to the total, though they typically help reduce the interest rate and lower

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Steamboat Springs government programs manager Win­nie DelliQuadri said Tuesday that she’s in “very close communication” with Great Out­doors Colorado to purchase 580 acres on the north side of Emerald Mountain.She said the city is the fiscal agent on the grant for a multi-entity group that’s known as the Legacy Project.  Lyman Orton is offering to sell 580 acres appraised at about $2 million to the city. The 580 acres he’s offered to the city are outside of city limits and directly west of the dirt portion of Blackmer Drive that winds up the mountain from Fairview. The acres are under a conservation easement through the Yampa Valley Land Trust. Orton long has allowed public use of the land for recreation such as hiking and mountain biking. The acres for…
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