Home Equity

DATELINE: PLYMOUTH, MA…
What realtor isn’t interested in generating new leads? Area realtors who are curious about discovering a different approach to lead generation are invited to learn while they lunch on Tuesday April 27, compliments of their hometown lender, Advanced Mortgage Services. This informative lunch session will begin at 11 AM at Advanced Mortgage Services’ Plymouth office, located at 25 Main Street in downtown Plymouth.

Attendees will be introduced to a proven lead generation system that will manage their marketing dollars more effectively while making the numbers game work in their favor.

About Advanced Mortgage Services LLC
Advanced Mortgage Services LLC was founded as a mortgage lending company in 2005 by Michele Comer and her husband Brian Thomas Comer who is a financial services professional with more than 13 years experience in the South Shore real estate market.

Advanced Mortgage Services is a full service mortgage company that values and nurtures long-term customer relationships. The company is an active participant in community events and organizations throughout the South Shore. For additional information on services offered by Advanced Mortgage Services please call 508-747-9520 or visit www.ams-loan.com .

A Fair Housing and Equal Opportunity Lender, Advanced Mortgage Services is a fully insured and licensed Massachusetts Mortgage Lender and Mortgage Broker (license #MC3702.)

Area realtors are invited to “Lunch and Learn” on April 27 at Advanced Mortgage Services in Plymouth, MA.Read More

DATELINE: PLYMOUTH, MA…
A free educational and informative Home Buyers Workshop will be held at Advanced Mortgage Services, 25 Main Street in Plymouth, MA on Thursday April 22 from 6:30 p.m. – 7:30 p.m.

Reservations are required and can be made by contacting Michelle Solomon, Advanced Mortgage Services, 508-747-8233, msolomon@ams-loan.com. All those who RSVP are eligible to receive a free credit report and personalized credit analysis.

This objective, informational workshop will cover how credit scores and monthly debt impact the program you may qualify for, the pre-approval and home buying process, how the current federal home purchase tax credit works, and what down payment requirements are for the different homebuyer programs.

Historically low mortgage rates and low listing prices are acting as a major stimulus to the real estate market. Future workshops will outline strategies for improving credit scores, renovation financing programs for purchase and refinance, maneuvering the short sale and bank owned property markets, new requirements for purchasing investment properties.

About Advanced Mortgage Services LLC
Advanced Mortgage Services LLC was founded as a mortgage lending company in 2005 by Michele Comer and her husband Brian Thomas Comer who is a financial services professional with more than 13 years experience in the South Shore real estate market.

Advanced Mortgage Services is a full service mortgage company that values and nurtures long-term customer relationships. The company is an active participant in community events and organizations throughout the South Shore. For additional information on services offered by Advanced Mortgage Services please call 508-747-9520 or visit www.ams-loan.com .

A Fair Housing and Equal Opportunity Lender, Advanced Mortgage Services is a fully insured and licensed Massachusetts Mortgage Lender and Mortgage Broker (license #MC3702.)

Free Home Buyers Workshop to be held April 22 at Advanced Mortgage Services in Plymouth, MA.Read More

DATELINE: NORWELL and PLYMOUTH, MA…
Advanced Mortgage Services recently announced the appointment of Carol Nemet Curran as a Licensed Loan Officer. Advanced Mortgage Services, with offices in Norwell and Plymouth, MA, is a full service mortgage company offering a wide range of financing programs tailored to meet each customer’s needs.

As a Loan Officer at Advanced Mortgage Services, Nemet Curran will draw on her extensive experience in the mortgage industry, ranging from loan origination to risk assessment and underwriting activities. In addition, Nemet Curran has also been actively involved in the marketing, technical, and educational aspects of the mortgage industry.

Before joining Advanced Mortgage Services, Nemet Curran most recently served as Senior Loan Officer/Marketing Representative at Consolidated Mortgage Services, Inc.

Nemet Curran received a B.A. in Economics from the University of Massachusetts Boston, and a Graduate Certificate from the Program for Women in Politics and Public Policy at the McCormack Graduate School of Policy Studies at the University of Massachusetts Boston. She is a dedicated advocate for mental health care services for children and is actively involved at the State House. In her free time, she is also devoted to her artistic passion as a professional photographer.

A native of Weymouth, MA, Nemet Curran resides with her husband and son in Kingston, MA.

Advanced Mortgage Services LLC
Advanced Mortgage Services LLC was founded as a mortgage lending company in 2005 by Michele Comer and her husband Brian Thomas Comer who is a financial services professional with more than 13 years experience in the South Shore real estate market. Advanced Mortgage Services is a full service mortgage company that values and nurtures long-term customer relationships, providing options and solutions with maximum benefit and genuine concern for their customer’s interests.

Advanced Mortgage Services team of loan officers maintains rigorous licensing requirements set by the Massachusetts Division of Banks and is committed to upholding the highest standards in the mortgage industry while offering customers the best possible solution for any mortgage-related needs.

Advanced Mortgage Services, which is an active participant in many community events and organizations throughout the South Shore, is located at 335 Washington Street in Norwell, MA 02061 and has an additional office at 25 Main Street in Plymouth, MA 02360.

For additional information on services offered by Advanced Mortgage Services please call 781-659-6555, 508-747-9520, or 888-665-6345, or visit www.ams-loan.com. A Fair Housing and Equal Opportunity Lender, Advanced Mortgage Services is a fully insured and licensed Massachusetts Mortgage Lender and Mortgage Broker (license #MC3702.)

Carol Nemet Curran named Loan Officer at Advanced Mortgage Services.Read More

DATELINE: NORWELL AND PLYMOUTH, MA
Wounded Warriors Project, a national organization that helps wounded veterans of the Iraq and Afghanistan engagements, received a financial boost via a check for $10,500 from Advanced Charitable Services based in Norwell, MA.

The sizable donation was raised via a golf tournament recently held at Southers Marsh Golf Club, Plymouth. More than 85 golfers participated in the fund-raiser which included a round of golf, dinner, awards and auction.

“We are delighted to help out the veterans who paid a high price for our freedom,” noted Brian Comer, President of Advanced Mortgage Services. He added, “The spirit and the success of this initial event have inspired us to make it an annual outing and fund-raiser for this great cause.”

Michele Comer, Senior Vice President of Advanced Mortgage Services based in Norwell and Plymouth, Mass., formed Advanced Charitable Services, Inc., a non-profit organization to promote and raise funds for worthy charitable causes.

Linda Perry, Area Outreach Coordinator for the Wounded Warrior Project, was on hand to accept the check and noted, “This kind of contribution and community effort help raise the spirits of our wounded Iraq and Afghanistan vets, as well as help to fund the programs and services that the Wounded Warrior Project offers to help them to rehabilitate and assimilate back into the civilian world.”

Wounded Warriors offers a range of programs, services and events designed for an individual’s needs beyond a vet’s hospital stay. Services range from combat stress recovery, peer mentoring, family caregiving, benefits counseling, advocacy, disabled sports programs, and backpacks stocked with necessary items for vets as they are discharged from a medical facility.

The mission of the Wounded Warrior Project is to honor and empower wounded warriors. Its purpose is to raise awareness and to enlist the public’s aid for the needs of severely injured service members, to help severely injured men and women aid and assist each other, and to provide unique, direct programs and services to meet their needs. WWP is a national, apolitical organization headquartered in Jacksonville, FL.

The next golf tournament/fund-raiser for Wounded Warriors is scheduled for this summer. To participate, contact Stacey Jordan, (800) 337-4660.

Wounded Warrior Project receives over $10,000 from Advanced Charitable Services, presented by Norwell and Plymouth based Advanced Mortgage Services.Read More

DATELINE: NORWELL and PLYMOUTH, MA…

With investments down and a continuing consumer credit crunch, more and more seniors are taking a second look at reverse mortgages as an attractive way to tap into the equity in their home. Even though home values have fallen, many senior homeowners retain a sizeable amount of equity in their homes.

“Tapping into a home’s equity is a very viable option for senior homeowners who are cash poor and house rich,” explains Brian Comer, President of Norwell and Plymouth based Advanced Mortgage Services. “Reverse mortgages continue to offer seniors the ability to be able to stay in their homes and maintain their quality of life as they age without having to worry about the limitations of a restricted income.”

A reverse mortgage is essentially the opposite of a traditional mortgage. Unlike traditional mortgages where borrowers make monthly payments, in a reverse mortgage the cash flow is reversed, and the lender makes payments to the borrower, enabling borrowers to use the tax free cash they receive in any way that they wish. Seniors commonly use the money to supplement their retirement income, pay for medical expenses, pay off an existing mortgage or debt, fund home repairs, or for travel or vacations. Payment may be received in a lump sum, as a line of credit, or in monthly installments.

To qualify senior homeowners must have positive equity in their homes and all homeowners listed on the title must be at least 62 years of age. There are no minimum income, asset, or credit qualifications to meet and no effect on Social Security or Medicare benefits sine the IRS currently treats mortgage proceeds as a loan advance rather than taxable income. The property must be the primary residence of the borrower and properly insured and maintained, with real estate taxes kept current. As long as the borrower continues to live in the property the loan can never be called.

Unlike a traditional mortgage where the balance starts high and the borrower’s monthly payments reduce the loan balance, the balance of a reverse mortgage loan starts low and continues to increase as more cash is drawn and the deferred interest charges are added to the balance. Repayment is required if the home is sold, or when the last borrower permanently leaves the property, or passes away. At that time, the heirs can sell or refinance the property to pay off the loan.

The only reverse mortgage insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage or HECM, and is only available through an FHA approved lender. According to the National Reverse Mortgage Lender’s Association, HECMs, which are insured by the Federal Housing Administration (FHA), a branch of the U.S. Department of Housing and Urban Development (HUD), account for nearly all reverse mortgages made today in the U.S.

The number of HECM loans made during the current recession have remained steady despite decreasing home values. HUD data, which is reported by federal fiscal year (each federal fiscal year begins October 1 and runs through September 30 of the following year) shows that 114,692 HECM loans were made during FY 2009, and 112,154 HECM loans during FY 2008.

For additional information please call the Reverse Mortgage Division of Advanced Mortgage Services at 888-665-6345 for a free personalized consultation.

Advanced Mortgage Services LLC

Advanced Mortgage Services LLC was founded as a mortgage lending company in 2005 by Brian Thomas Comer, a financial services professional with more than 13 years experience in the South Shore real estate market. Advanced Mortgage Services is a full service mortgage company that values and nurtures long-term customer relationships, providing options and solutions with maximum benefit and genuine concern for their customer’s interests.

Advanced Mortgage Services team of loan officers maintains rigorous licensing requirements set by the Massachusetts Division of Banks and is committed to upholding the highest standards in the mortgage industry while offering customers the best possible solution for any mortgage-related needs.

Advanced Mortgage Services, which is an active participant in many community events and organizations throughout the South Shore, is located at 335 Washington Street in Norwell, MA 02061 and has an additional office at 25 Main Street in Plymouth, MA 02360.

For additional information on services offered by Advanced Mortgage Services please call 781-659-6555, 508-747-9520, or 888-665-6345, or visit www.ams-loan.com. A Fair Housing and Equal Opportunity Lender, Advanced Mortgage Services is a fully insured and licensed Massachusetts Mortgage Lender and Mortgage Broker (license #MC3702.)

Advanced Mortgage Services outlines options for tapping into home equity for cash strapped senior homeowners.Read More

DATELINE: NORWELL and PLYMOUTH, MA…

Plymouth’s 1^st annual holiday window decorating contest in the downtown business district featured a $500 prize, donated by The Plymouth Growth and Development Corporation, for the business or organization whose window decorations garnered the most votes. Enterprising fundraisers at Habitat for Humanity of Greater Plymouth wanted to compete in the contest to aid in their ongoing fundraising efforts but were thwarted by the lack of a downtown Plymouth storefront to decorate.

Advanced Mortgage Services, with 3 storefront windows at their 25 Main Street offices, offered an ideal location for Habitat volunteers to ply their magical decorating skills. Eager to partner with Habitat, Advanced Mortgage Services not only agreed to let Habitat use their windows to decorate, but also upped the ante by offering to double Habitat’s prize if they won the contest.

For Brian Comer, President of Norwell and Plymouth based Advance Mortgage Services, the contest represented more than just window dressing, “We’re in the business of helping folks become homeowners. By partnering with Habitat we’ll be contributing in a small way to someone becoming a new homeowner down the road. We were pleased to have this opportunity to help out.”

One of Habitat for Humanity of Greater Plymouth’s upcoming projects will include building a new Habitat home on South Street in Plymouth, a project that Comer hopes Advanced Mortgage Services employees will also aid with some sweat equity when building gets underway later this year.

Advanced Mortgage Services LLC

Advanced Mortgage Services LLC was founded as a mortgage lending company in 2005 by Brian Thomas Comer, a financial services professional with more than 13 years experience in the South Shore real estate market. Advanced Mortgage Services is a full service mortgage company that values and nurtures long-term customer relationships, providing options and solutions with maximum benefit and genuine concern for their customer’s interests.

Advanced Mortgage Services team of loan officers maintains rigorous licensing requirements set by the Massachusetts Mortgage Bankers Association and is committed to upholding the highest standards in the mortgage industry. With a combined expertise of more than 50 years, Advanced Mortgage Services offers customers the best possible solution for any mortgage-related issue.

Advanced Mortgage Services, which is an active participant in many community events and organizations throughout the South Shore, is located at 335 Washington Street in Norwell, MA 02061 and has an additional office at 25 Main Street in Plymouth, MA 02360.

For additional information on services offered by Advanced Mortgage Services please call 781-659-6555, 508-747-9520, or 888-665-6345, or visit www.ams-loan.com. Advanced Mortgage Services is fully licensed and insured in Massachusetts and Florida, and is an FHA, VA, Equal Opportunity, and MHFA lender.

Advanced Mortgage Services doubles Habitat’s winnings from 1st annual Plymouth holiday window decorating contest.Read More

DATELINE: NORWELL and PLYMOUTH, MA…

As a new year dawns and uncertain economic times continue, homeowners might want to start the new year off by investigating what could be the gift of a lifetime for themselves and their families by considering refinancing their mortgage.

With mortgage interest rates at historic lows, Brian Comer, President of Norwell and Plymouth based Advance Mortgage Services outlines some basic reasons to consider refinancing now:

§ Getting a lower mortgage rate and reducing interest costs and monthly payments.

§ Converting an adjustable rate mortgage to a secure, fixed-rate mortgage.

§ Consolidating first and second mortgages into a mortgage with a lower rate.

The answer to the question, “Should I refinance?” is a complex one, since every situation is different and no two homeowners are in the exact same situation. The conventional wisdom of refinancing only when you can save 2 percent on your rate is problematic. If you are refinancing to lower your monthly payments, the following calculation is more appropriate compared to the 2 percent rule:

1. Calculate the total cost of the refinance–example: $2,000
2. Calculate the monthly savings–example: $100/month
3. Divide the result in 1 by the result in 2–in this case 2000/100 = 20 months. This shows the break-even time period. If you plan to live in the home for longer than this period of time, it likely makes sense to refinance.

If you regard refinancing costs as an investment you’ll be getting a more than solid return. If you save $100 a month in payments, you would save an additional $4,000 in payments (above and beyond the refinancing costs) even if you stayed in your home for only five years after refinancing.

Notes Comer, “Whatever you’re considering, consulting with a seasoned mortgage professional can often save you time and money. Make a few phone calls, check out a few web sites, use an online mortgage calculator, crunch a few numbers, and spend some time to understand your options.”

Advanced Mortgage Services LLC

Advanced Mortgage Services LLC was founded as a mortgage lending company in 2005 by Brian Thomas Comer, a financial services professional with more than 13 years experience in the South Shore real estate market. Advanced Mortgage Services is a full service mortgage company that values and nurtures long-term customer relationships, providing options and solutions with maximum benefit and genuine concern for their customer’s interests.

Advanced Mortgage Services team of loan officers maintains rigorous licensing requirements set by the Massachusetts Mortgage Bankers Association and is committed to upholding the highest standards in the mortgage industry. With a combined expertise of more than 50 years, Advanced Mortgage Services offers customers the best possible solution for any mortgage-related issue.

Advanced Mortgage Services, which is an active participant in many community events and organizations throughout the South Shore, is located at 335 Washington Street in Norwell, MA 02061 and has an additional office at 25 Main Street in Plymouth, MA 02360.

For additional information on services offered by Advanced Mortgage Services please call 781-659-6555, 508-747-9520, or 888-665-6345, or visit www.ams-loan.com. Advanced Mortgage Services is fully licensed and insured in Massachusetts and Florida, and is an FHA, VA, Equal Opportunity, and MHFA lender.

Historic low mortgage rates may make refinancing an ideal resolution for the New Year. Norwell and Plymouth based Advanced Mortgage Services provides quick tips to determine if it’s the right decision for you.Read More