One of the benefits that January Financial provides is a regular email update to clients, which we use to keep our clients updated with what's happening in the mortgage markets and to make sure they're on top of things. Especially in times like these, with volatile credit markets and programs being here today and gone the next, this is a service that many of our clients truly appreciate. I've included a copy of a recent e-letter below. If you'd like to be added to our e-letter list, just send me an email at carey@januaryfinancial.com!

How Well Do You Know

Your Home Loan?

According to a recent poll, only 1 in 3 homeowners has any idea what kind of mortgage loan they have. In a normal market, news like this doesn't keep us here at January Financial awake at night. However, in the current market, it is predicted that over 2 million homeowners will lose their homes due to sudden, unexpected, and devastating increases in mortgage payments. It is absolutely vital that you know if and when your loan will recast, increasing your mortgage payment.

The market being as it is, we have some brutal facts to face:

• mortgage programs and guidelines are beginning to tighten and retract after five years of expansion
• credit standards are getting tighter
• lenders are becoming less flexible compared to five years ago
• foreclosures are becoming increasingly common for financially stressed homeowners

We're not trying to scare you with gloom-and-doom stories - what we want to do is tell you that if you're proactive with your planning you can navigate a soft landing even in this rough market. Here are some ideas for how you can avoid the financial pitfalls brought about by the sub-prime crash and emerge unscathed:

• get out of your Option Arm loans if you aren't prepared for payment recasting and saving up in a side account
• get out of mortgages that will be adjusting in the next 18 months because of the uncertainty of future guidelines and interest rates
• take cash out to weather possible financial storms ahead
• consolidate debts to lower monthly payments
• set up an equity line of credit to provide liquidity in case of personal or professional changes that might impact your ability to borrow in the future

We have set aside time for the next few weeks to help homeowners like you figure out the essential facts about your loan. Together we can determine whether you're in the best financial situation possible. Please, don't miss this chance to email, call, or drop by for a consultation - completely free!

Also, if your mother/brother/best friend/neighbor/mail carrier refinanced a couple years ago, please do them a favor by asking them to call us too. We want to make sure every member of our Valued Client Family is well-prepared for whatever this new market has in store.