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            <guid>http://www.providentteam.com/blog/lansdowne-on-the-potomac-annual-easter-egg-hunt.html</guid>
            <link>http://www.providentteam.com/blog/lansdowne-on-the-potomac-annual-easter-egg-hunt.html</link>
            <author>info@providentteam.com (Mike Rosen)</author>
            <title>Lansdowne on the Potomac Annual Easter Egg Hunt</title>
            <description> <![CDATA[ 
The annual Easter Egg hunt for the community of Lansdowne on the Potomac is this coming Saturday, March 16th from 9:30  11:30am. The festivities begin with a petting zoo on the Stone Building lawn. At 9:45 the first egg hunt (for ages 2 and under) will be held, with three additional hunts scheduled every twenty minutes beginning at 10:20am for ages 3 and older.


Last year the rain didnt stop the fun for the little ones, and this year is sure to bring another great morning for the residents of Lansdowne to get together in the spirit of community. Lets hope for sunny skies and a great turnout. See you on Saturday!


View Lansdowne Homes for Sale
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            <pubDate>Tue, 12 Mar 2013 14:18:16 -0500</pubDate>
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            <guid>http://www.providentteam.com/blog/3-ways-to-restructure-mortgage-and-save-thousands.html</guid>
            <link>http://www.providentteam.com/blog/3-ways-to-restructure-mortgage-and-save-thousands.html</link>
            <author>info@providentteam.com (Mike Rosen)</author>
            <title>3 Ways to Restructure Mortgage and Save Thousands</title>
            <description> <![CDATA[ 
Here's a great article I ran across today regarding how to possibly lower the amount you pay for your mortgage over the long term. &nbsp;I am personally in the process of doing a re-finance on one of my investment properties that will literally improve my cash flow by $500 a month on just one property. &nbsp;Rates are so great right now and if you're not looking into your options, you are missing an opportunity to possibly save some cash.


By: Barbara Eisner BayerPublished: December 29, 2011


You can refinance or recast your mortgage. Or you can create your own DIY mortgage restructuring plan. We compare so you can decide.


Send in extra money to pay down principal


In the mid-1970s, Marc Eisenson coined the term &ldquo;bankers secret,&rdquo; which promoted a cost-saving idea: Pay more than required on your monthly mortgage, and youll save a pile of money. Eisenson says, &ldquo;It was a secret that bankers knew, but didnt share with their customers.&rdquo;


Heres how it works. If you take out a $200,000 30-year mortgage at an interest rate of 6%, and hold it to term, youll pay a total of $382,537.97 for your home, including interest of $182,537.97. However, if you send in just $100 each month in additional principal, youll save more than $49,000 in interest over the term of the loan.


Theres another huge perk: Youll pay off the loan five years and five months ahead of schedule. This strategy puts you in total control of the restructuring process, and there are no fees involved.


Another way to pay off your loan early is to use a bi-weekly payment plan. Banks and third-party companies can implement this plan for you, but theyll charge hundreds or thousands of dollars in fees. We don't recommend you pay for the service unless you lack the self-discipline to make the payments yourself.&nbsp;


With this strategy, you make half your monthly mortgage payment every two weeks, which equals 13 payments a year instead of 12. With bi-weekly payments on a 30-year $200,000 loan, youll save more than $49,000 in interest over the course of the loan, and pay it off approximately five years earlier.


Other ways to easily do it yourself:


Make one additional mortgage payment per year at any time.Divide your monthly payment by 12, and add that extra amount each month when you pay your mortgage.


Recast mortgage for lower payments


If you want to lower your monthly payment and have at least $5,000 to contribute, you can request a mortgage recast. In this scenario, you dont change the interest rate or term of your mortgage, you change the principal balance, and the term begins anew.


Heres how it works: After 10 years of paying your 30-year mortgage with a 6% interest rate and a monthly payment of $1,432.86, your balance is $200,000. With a mortgage recast, you contribute an additional $20,000, and have a new principal amount of $180,000, with the same remaining 20 years to pay it off at 6%. However, your new monthly payment is $1,289.58, for a savings of $143.28 per month.


Theres a small fee for this service &mdash; approximately $250. The bank gets nothing out of this except retaining your loyalty, so they dont promote it. Its up to the lender whether itll do it, so all you can do is ask. Its also likely to be a lengthy process. You have nothing to lose, however, except a higher monthly payment.


Refinance your loan


The most common way to restructure your loan is with a mortgage refinance, where you replace your current mortgage with a new one at a lower interest rate. If you took that same $200,000 balance on your 6% mortgage and refinanced into one with a 5% interest rate, youd reduce your monthly payment from $1,199 to $1,074, saving $125 monthly.


Refinancing may be challenging to get approved for in a tight lending environment, where you need stellar credit scores and a steady job history. Youll also need to pay closing costs, which can run 3% to 6% of the loan amount.


These tips are appropriate if youre current on your mortgage and have extra money. Struggling home owners should consider the government-sponsored Home Affordable Modification Program (HAMP) for mortgage restructuring.


--Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS.--
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            <pubDate>Wed, 09 May 2012 20:33:19 -0500</pubDate>
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            <guid>http://www.providentteam.com/blog/script-srchttpfeedsfeedburnercomprovidentteamzlwiformatsigpro-typetextjavascriptscript-noscriptpsubs.html</guid>
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            <author>info@providentteam.com (Mike Rosen)</author>
            <title><script src="http://feeds.feedburner.com/providentteam/ZLWi?format=sigpro" type="text/javascript"></script> <noscript><p>Subscribe to RSS headline updates from: <a href="http://feeds.feedburner.com/pr</title>
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            <pubDate>Fri, 21 Jan 2011 20:27:10 -0600</pubDate>
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