Archive for July, 2007

Maine State Housing - Great News For Veterans

Friday, July 27th, 2007

This just In… the Maine State Housing Authority indicates, “A federal law was passed which enables housing finance agencies to waive the first-time homebuyer requirement for veterans who: a) served in active military, naval or air service; and b) have been honorably discharged, and c) have never received a mortgage financed in any state with Mortgage Revenue Bonds (which MSHA uses to finance loans).”  MSHA has announced their expansion of the exception to include active duty military personnel who have owned a home within the last three years.  Effective immediately, veterans and active duty military (including their spouses) who are non-first time homebuyers, but meet the above requirements and all other MSHA eligibility requirements will qualify for MSHA financing.  The waiver applies to all MSHA programs.  MSHA is unable to determine the number of bonds that will be issued in 2007 or how long eligible funds will be available.  Therefore, the funds for eligible veterans/active duty military are on a first-come, first-serve basis.

We all owe a debt of gratitude to our Vets. I wish our government would do more to help improve those programs already in place, mainly, health care.

Bravo!

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Western Maine’s Fractionation Woes - A Step Backwards For A GREENER Maine

Wednesday, July 18th, 2007

Is it coincidence his enthusiasm for fractionation, the science of turning forest products into biofuel, evaporated when state lawmakers refused to foot the bill? Attempts by Sen. Bruce Bryant, D-Dixfield, to first secure a $50 million bond, and then $350,000 in annual biorefinery funding, were stymied this past session, told the SunJournal of Lewiston Maine. Read it here at http://www.sunjournal.com/index.php?t=12&blogid=60436&bloggerid=7

On July 11th, MaineBiz asked readers of The Daily, a Mainebiz.biz ezine,  if the Fractionation Development Center’s troubles are symptomatic of challenges in Maine of adopting alternative energy sources. The answer was a resounding yes.

70.9%of respondents said the FDC’s troubles are symptomatic of greater challenges

29.1%of respondents said the FDC’s troubles were not symptomatic of greater challenges

A sampling of reader comments:
“The FDC was a house of cards and their exit from the stage came far later than it should have.”

“If a 45-million-dollar venture hinged on one man (and he wasn’t the guy with the 45 Million) then it wasn’t very viable in the first place.”

“There is a big scramble in the business world to create biofuel sources and markets due to current tax credits and other incentives. It is taking on a dot-com like boom and bust outlook.”

“Maine: The way life should be, back in 1700. We want cheap energy, but no dams, no power plants, no windmills, no nuclear energy, no LNG sites. Just send us your cheap power from another state.”

“I attended an event where the FDC were presenters. Organizationally they were among the least convincing groups, bordering on amateur. I think the concept is probably valid but not with that group/organization as lead. I think the FDC’s trouble is symptomatic of FDC’s trouble.”

“FDC’s troubles may be symptomatic of the challenges in ME of adopting alternative energy sources. However, the ‘real’ problem is the lack of leadership in our state legislature.”

“Innovative technologies can require enormous investment before any payback is realized. I would guess that Maine has a very shallow pool of investors comfortable with basing their future returns on this state’s infrastructure.”

“I think FDC’s troubles are reflective of the lack of a clear and effective energy policy at the federal level. FDC’s biofuels really means ethanol from wood, just as we are now subsidizing ethanol from corn. Frankly, both approaches are short sighted and inefficient. However, when Oilmen run the country, do we really expect them to promote rational policies, which might endanger the record profits of the fossil-fuel corporations?”

“It boggles my mind how rural Maine seems to shun development. With the prospects of wind-power and biomass production, which can lead to an energy independent state, Maine has a golden opportunity here. Wake up people, time is of the essence!”

“The problems with the Fractionation Center is specifically related to that particular technology and how ‘near to mark’ it is. Private investors are not ready for the magnitude of investment envisioned. Each energy technology needs to be considered separately and this should not be a sign regarding other possibilities being explored and even commercialized in Maine.”

“It is more symptomatic of people looking for a silver bullet rather than looking for less challenging but more doable projects. Just think if we invested $45 million in subsidizing solar, wind or even sugar beets (now that’s an old one but refining it would be easier and you have proven technology and thousands of acres of farmland that could be developed).”

“Lack of consistent policy and follow-through appear to characterize all state technology initiatives.”

Will your views of the Maine green scene change the way you think and act in your community. at home or at work? What will our planet be like for our children’s children?

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Maine’s Mortgage Fees Are Better Than Most In The Region

Wednesday, July 18th, 2007

More interesting news…Maine is one of the region’s least expensive states in which to close a mortgage transaction, according to an annual closing cost survey by Bankrate.com. Here’s a list of the average cost of closing a mortgage transaction in New England’s six states, as well as their national ranking. New York is the most expensive state in which to close a mortgage transaction, with an average closing cost of $3,830.

  Closing costs National rank
Connecticut $2,858 11
Massachusetts $2,849 12
Rhode Island $2,768 18
New Hampshire $2,724 21
Maine $2,671 29
Vermont $2,666 30

Source: Bankrate Inc.

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Maine Real Estate - Subprime Lending In-Depth - What Are The Risks And Advantages?

Friday, July 13th, 2007

This brochure provided by the Center For Responsible Lending and The National Association Of REALTORS, gives you the tool needed to be informed. In many housing markets, first time home owners are having difficulty affording their home and traditional mortgages may not be the best option for everyone. Many home-buyers are using Specialty Mortgages to “stretch” out their income so they can qualify for a larger loan.

In this brochure you’ll discover:

  1. The common types of Specialty Mortgages: The 40 Year Loan - Interest Only Mortgages - Negative Amortization Mortgages  and Payment Option ARM Mortgages.
  2. What are the major risks of specialty mortgages?
  3. Who is best suited for a specialty mortgage?
  4. Helpful steps to take before financing a home
  5. Seven questions to consider before considering a specialty mortgage

Other helpful websites to visit for basic finance are:

For Home Finance:

Call us at 207-784-2525 for your free copy or email me at mike@meservier.com

Go to meservier.com for Maine Real Estate information or visit MaineMLS.info to search for over 25,000 Maine properties for sale.

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Maine Real Estate - Shopping For A Mortgage? - How To Avoid Predatory Lending

Friday, July 13th, 2007

According to this NAR brochure, Do you homework first! The National Association of REALTORS has provided this wonderful resource on “How to Avoid Predatory Lending” and use it to help prospective homeowners avoid unfair lending practices.

Useful topics include:

  1. Beware of predatory loans
  2. What are some of the problems connected with predatory lending?
  3. Shop for the lowest-cost loan
  4. If the loan is an adjustable rate mortgage (ARM), ask these 10 questions
  5. Other solutions REALTORS and home buyers can use to avoid predatory lenders
  6. Possible warning signs of a predatory loan

This brochure is available to you by calling Michael Meservier at 207-784-2525 or by email at mike@meservier.com.

visit Meservier & Associates to see information for buyers and sellers alike. Search over 25,000 Maine properties at http://www.mainemls.info/.

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Outstanding Information Available For Maine - How To Avoid Foreclosure And Keep Your Home

Friday, July 13th, 2007

The brochure, “How to Avoid Foreclosure and Keep Your Home,” provides outstanding information for existing homeowners who may not be able to afford their current mortgage, including phone numbers, counseling services and just plain good advice. This brochure is available by contacting us through our website, Meservier & Associates, email mike@meservier.com or by calling 207-784-2525. We understand Maine’s Real Estate market and how some homeowners may be having difficulty paying their mortgage.

Some of the areas covered in the brochure are:

  1. You’re not alone if you’re having trouble paying your mortgage
  2. Mortgages with “Payment Shock”
  3. How Realtors can help
  4. Talk with your lender
  5. What if the value if your property is less than what you owe?

And finally, Quick references for Consumers. This is a valuable resource is brought to you by the National Association of Realtors and is yours for the asking.

Go to meservier.com to search for over 25,000 Maine properties or visit MaineMLS.info.

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