I just read an article in the Austin Business Journal stating that 22 zip codes in Texas are among those with the highest number of foreclosures in the nation. 78664 in Round Rock and 78660 in nearby Pflugerville are among them. In a three month period, 78664 reported 248 foreclosures filed and 78660 reported 166 foreclosures. Not to fret though. Overall foreclosures in the Austin area are down 4% from this time last year. If you are in danger of being foreclosed upon, contact your lender immediately. There are resources available that may help you out of this sticky situation.

By filing in federal bankruptcy court, an individual or individuals can restructure or relieve themselves of debts and liabilities. Bankruptcies are of various types, but the most common for an individual seem to be a “Chapter 7 No Asset” bankruptcy which relieves the borrower of most types of debts. A borrower cannot usually qualify for an “A” paper loan for a period of two years after the bankruptcy has been discharged and requires the re-establishment of an ability to repay debt.

A written justification of the price paid for a property, primarily based on an analysis of comparable sales of similar homes nearby

Despite what you may be hearing in the news the Austin real estate market is bucking the trend of declining home sales that are being seen in most of the nation’s cities and towns. The month of April brought in a 6% increase in single-family home sales and the median home price continues to remain very affordable compared to the rest of the nation. With summer being the most popular time to buy and sell in real estate, one could only speculate that it can only get better.

This is not the note rate on your loan. It is a value created according to a government formula intended to reflect the true annual cost of borrowing, expressed as a percentage. It works sort of like this, but not exactly, so only use this as a guideline: deduct the closing costs from your loan amount, then using your actual loan payment, calculate what the interest rate would be on this amount instead of your actual loan amount. You will come up with a number close to the APR. Because you are using the same payment on a smaller amount, the APR is always higher than the actual not rate on your loan.

One of the biggest challenges many homeowners face is making smaller rooms look larger and more inviting. Here are five ways to achieve that goal:

 1. Paint Color - Lighter colors such as creams, icy blues and greens make the best color combinations. Light colors tend to reflect light making the room brighter there by more open. Darker shades of wall color absorb the light giving the room a cave-like feeling. If you want to add darker colors to the room, use them on trim or borders. Another trick is painting the ceiling a few shades lighter than the wall. This creates the illusion of higher ceilings.

2. Furniture - Stage the room using furniture that is proportionate to the size of the room. Use furniture that has clean lines and place it at an angle or against the wall. Choosing a couple of pieces that are the same or close to the same color as the walls helps it to blend in and widen the room. Avoid blocking pathways with pieces of furniture.

3. Light - Natural light is the best form of light. Not only does it bring the outdoors in, but it also helps brighten and enlarge the room. If you don’t have a lot of natural light streaming in, add recessed lighting, floor lamps, etc.

4. Remove the clutter - The less clutter the better. Keeping the room clean and organized will help make it look larger. Hanging one large painting or photograph instead of a multitude of wall hangings creates a cleaner look. Create a focal point and lastly don’t over accessorize.

5. Reflections - Mirrors are a great way to double the size of a room. One large mirror angled towards the focal point can add a significant amount of depth to a room. They reflect light there by making the space look larger.

The loan payment consists of a portion which will be applied to pay the accruing interest on a loan, with the remainder being applied to the principal. Over time, the interest portion decreases as the loan balance decreases, and the amount applied to principal increases so that the loan is paid off (amortized) in the specified time.