Ellen Davis, Mortgage Link, Home Loans, Real Estate, Mortgages, Refinance

January 2008

Dear Ellen,

If you are a Maryland homeowner please make sure to read the information below concerning Maryland Homestead Tax changes.

As you have heard mortgage rates have continued to drop so now is the time to refinance if you have not done so give us a call and we'll do a full review of your current mortgage and what options are available to you today.

Ellen

What is a Short Sale?

Resolve To Become More Fiscally Fit

With the increase in foreclosures lately you may have heard the term "short sale" and wondered what it was. A short sale is when the lender will accept less than the full amount due on a mortgage when a property is sold. Usually, the lender will accept the short sale to avoid the time and expense of a foreclosure.

When a borrower is in default on a mortgage they not only owe the back payments but also may owe late fees, property inspection fees, attorney fees, etc. This can add up quickly to eat up all the equity the borrower had in the property. If the borrower is unable to bring the account current the lender will then foreclose on the property.

READ MORE...

Maryland Property Owners

Starting January 1, 2008 Maryland property owners must now apply to continue to receive their Homestead Deduction savings on their real estate tax bill for their primary residence. This application must be filed by April 1, 2008.

If you have not already received the forms with your tax assessment notice you will soon. If you do not want to wait to receive them click this link for the form http://www.dat.state.md.us/sdatweb/Homestead_application.pdf

For commonly asked questions about the application see http://www.dat.state.md.us/sdatweb/Homestead_app.htm

See you next month!

Ellen Davis, VP

Mortgage Link, Inc.

800 S. Frederick Avenue

Gaithersburg, MD 20877
Tel: 301-728-5505
Fax: 301-760-4277
Email: edavis@mortgagelinkhome.com
Web: www.mortgagelinkhome.com
Blog: http://yourmortgagehome.wordpress.com

PS - Don't forget to use the gift certificate below for a $300 Donation to the charity of your choice when you use my services to purchase or refinance of your home. Use it for yourself or give it to a friend or family member.

In This Issue

What is a Short Sale?

Maryland Property Owners

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Featured Property This Week

135 Timberbrook Lane #203 Gaithersburg, MD 20878

Offered At: $320,000

1,177 sq ft of living space. 2 bedrooms, 2 full baths, living room, dining room, kitchen, laundry room, tons of storage and closet space. Located near the end of the complex and overlooking gorgeous parkland, parking will never been an issue! Pet friendly building. Near I-270/370, Rio, Kentlands, Metro, MARC train.

Realtor Contact:

Lupe Rohrer

at 301-938-2499
to view this home.

Call Ellen Davis at
301-728-5505 to receive your loan approval to purchase this property

$300
Donation

Mention this certificate when buying or refinancing your current mortgage and a $300 donation will be made to the charity of your choice. This certificate can be used for your own financing needs, or you may give it to a friend or family member who may be thinking about buying or refinancing their home. This certificate may be redeemed only through services provided by Ellen Davis or Mortgage Link, Inc. Call today for more details 301-728-5505.