Just listed is this beautiful Wilkes County NC Log Home and Mountain Property.

MLS Number: 50863, List Price: $359,900

Bedrooms: 3, Full Baths: 2, Half Baths: 0, Est Total SqFt: 2600, Type/Style: Log Home, Area: Area 6, Middle School: Cntrl Wlks, High School: Wlks Cntrl, Construction: Log

Foundation: Combination, Roof: Metal Roof, Floors: Carpet/Hardwood/Tile, Garage/Carport: None-Garage, None-Carport, Interior Features: Master Bedroom, Main Level, Large Master Bedroom, Walk-In Closet(s), Hardwood Floors, Fireplace(s), Great Room, Exterior Features: Double Pane Windows, Wooded Lot, 1-5 Acres, Hot Tub, Subdivision: N/A, Lot Size: 2.47, Apx SqFt: 2600 - 2800 SF, Basement: None

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

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Normally, lenders price loans on the assumption that borrowers will include taxes and insurance premiums in their monthly mortgage payments. These payments are placed in an escrow account under the lender’s control. On a payment date, the amount due is paid by the lender. Its purpose is to force borrowers at the outset to confront their ability to afford the major expenses of home ownership, and this purpose would be served by an escrow requirement that applied only to the first year. After that, borrowers should be allowed to opt out if they want to.

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For Bob and Judy Bartlett, a 4,700-square-foot home on two acres in Durham, N.C., no longer made much sense after their two children had long since moved out. Meanwhile, the retirees were spending more time at a second, lakefront home. So several years ago, they began thinking about selling their primary house and buying something smaller. But it wasn’t easy to make the break; the couple had called the Durham property home for three decades and were unhappy about the prospect of moving away from close friends.

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Escrow is not an absolute requirement. To make escrows the norm in the subprime market would require that escrows be made mandatory for all mortgage borrowers. Escrows can’t be required for only subprime loans because that term can’t be precisely defined. And if the law requires simply that escrows be offered to borrowers, loan officers and mortgage brokers could work around it. But the requirement for an escrow could be short-term. Its purpose would be to force borrowers at the outset to confront their ability to afford the major expenses of homeownership. This would be served by an escrow requirement that applies only to the first year. After that, borrowers should be allowed to opt out if they want.

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Late payments on home equity loans climbed to a 1½-year high in the opening quarter of this year, while delinquencies on credit card bills fell, painting a mixed picture of how people are managing their debt. After a five-year boom, the housing market tanked last year. The combination of rising interest rates and falling house prices clobbered some homeowners — especially those with tarnished credit histories and adjustable-rate mortgages. Late payments and new foreclosures for those borrowers spiked to all-time highs in the first quarter, according a separate survey by the Mortgage Bankers Association, released last month.

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You can lessen the effects of the recent tightening mortgage underwriting standards by improving your credit report profile and, as a result, your credit score. Just don’t expect that your knee-jerk reaction to better fiscal responsibility will generate overnight success. Chances are, you didn’t get those bad credit reports during a single credit buying binge. And, if you are like many consumers, you don’t even know what you are up against. Your credit report is a sort of fiscal fitness report on your credit habits and the information it contains factors heavily into your credit score, a statistical analysis or numerical value placed on your credit behavior. Your credit score is commonly used to nay or yea your requests for credit and determine how much you’ll pay for credit approved.

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Both government lenders, Fannie Mae and Freddie Mac have tightened their policies for purchasing high-priced, high-risk home loans from lenders. The new policies involve billions of dollars worth of subprime mortgages, those targeted to people with tarnished credit or low incomes who are considered greater risks. The policies spell out to banks and other lenders which mortgages Fannie Mae and Freddie Mac will ultimately buy from them and which mortgage loans they will be likely to reject.

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• Beautiful and affordable NC Lakefront property near Boone NC
• Lakefront Lots on Kerr Scott Dam & Reservoir
• 18 Lots - 14 are Lakefront and meet private dock requirements.
• Gated community with Lots ranging from 2.3+- acres to 6.8+- acres.
• On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

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search for : NC Lakefront property, Lakefront Lots on Kerr Scott Dam & Reservoir, Wilkesboro, NC 28697