CHANGE OF DATE for Celebrate the Arts!

Mother Nature has spoken! Due to rainy weather predicted for tomorrow, Celebrate the Arts has been postponed until Saturday, April 4th. The silver lining of this rainy cloud is that we will now have more time to get even more prizes and art vendors so mark your calendars to attend. Spread the word, invite your friends and family and help us to make this a grand day for a great cause!

 

Two Truths, One Lie – Finance Style

Have you ever played the icebreaker game, “Two Truths, One Lie?” 

As far as icebreakers go, this is a good one and eye opening! In fact, there is a current game show with the premise.

This is how it works:

Everyone goes around the room and says three statements. Two are true, and one is false. Today, let’s play with a couple of different hot topics in finance and see if you can spot the lie.

 

Mortgages

  1. If you have no FICO score, you can still get a mortgage
  2. Private Mortgage Insurance (PMI) does not protect me (the buyer)
  3. As a rule of thumb, you should be 80 or older in order to get a reverse mortgage

Credit Cards

  1. Buying with credit makes us feel the same as buying with cash
  2. Credit cards were invented in 1950
  3. Credit cards are considered unsecured debt

Estate Planning

  1. Over 50% of Americans have no estate plan, no will and no medical directives
  2. Dying without a will is known as “an intestinal death”
  3. Not everyone needs to hide their money from the “death tax”

—————————————————————————————————————————

Mortgages

  1. If you have no FICO score, you can still get a mortgage
    True; it is a lot easier with a credit history, but manual underwriting is an option
  2. Private Mortgage Insurance (PMI) does not protect me (the buyer)
    True, PMI protects the lender from you (the buyer) not ponying up
  3. As a rule of thumb, you should be 80 or older in order to get a reverse mortgage
    False, it’s age 62…still old, though.

Credit Cards

  1. Buying with credit makes us feel the same as buying with cash
    False; with credit cards, we focus on benefits and cash makes us focus on cost
  2. Credit cards were invented in 1950
    True; the first credit card (as it is known today) was created in 1950 with the Diner Club card
  3. Credit cards are considered unsecured debt
    True; unsecured debt means that they can’t come get your stuff (unlike a mortgage or car loan, which are secured)

Estate Planning

  1. Over 50% of Americans have no estate plan, no will and no medical directives
    True; what is your estate plan?
  2. Dying without a will is known as “an intestinal death”
    False; an estate would be “intestate” and has nothing to do with death-by-Taco-Bell
  3. Not everyone needs to hide their money from the “death tax”
    True; only estates worth more than $5.25M (for 2013) need to be thinking about estate taxes

Want to learn more fun finance facts? Go to DanHinzCoaching.com, and follow me on Twitter and Facebook.

As a financial coach, I am focused on increasing the financial literacy of Bay County and Florida. If you, or someone you know, would like to get out of debt, avoid bankruptcy, or become more responsible with money, contact me for more information on personal coaching, classes, and seminars.

Gulf Coast Jam Fest starts Thursday

This weekend’s Pepsi Gulf Coast Jam has got a lineup that can’t be beat.

From country legends like Charlie Daniels, Trace Adkins and Toby Keith, to hot young performers like Darryl Worley, Eli Young Band, Colt Ford and Brantley Gilbert – this event will have something for everyone.

Starting Thursday and going through Saturday, stages will open all over Panama City Beach: Boardwalk Beach Resort on Thomas Drive, Frank Brown Park on Back Beach Road, Edgewater Beach Resort on Front Beach Road, Club La Vela on Thomas Drive and the Harley-Davidson Stage in Seahaven.

Gates at most of the stages will open at 9 a.m., with performances going until 3 p.m. when the action on the main stage at Frank Brown Park will pick up. After hours performances will go into the early morning hours at Club La Vela.

Thursday night, Trace Adkins takes the main stage at Frank Brown Park from 9:15 to 10:45. Adkins debuted in 1995 with the album “Dreamin’ Out Loud” and has since released seven more original albums and two greatest hits compilations. He has had more than 20 Billboard country music chart hits including No. 1s: “(This Ain’t) No Thinkin’ Thing,” “Ladies Love Country Boys,” and “You’re Gonna Miss This.”

He’s also been on “Hollywood Squares” and “The Celebrity Apprentice,” as well as authored an autobiography called “A Personal Stand: Observations and Opinions from a Free-Thinking Roughneck” and appeared in the movie “The Lincoln Lawyer.”

Friday night’s main event gets devilish when The Charlie Daniels Band takes the stage at Frank Brown Park from 7:30 to 8:45 p.m. Daniels is best known for his No. 1 Country hit “The Devil Went Down to Georgia,” but has been performing since the 1950s. He was inducted into the Grand Ole Opry in 2008 and the Musicians Hall of Fame Museum in 2009.

He’s followed by Brantley Gilbert from 9:15 to 10:45 p.m. Gilbert’s “Country Must Be Country Wide” was No. 1 on the Hot Country Songs charts in 2011 and in 2012, “You Don’t Know Her Like I Do” also reached No. 1.

Saturday finishes off the event with Darryl Worley taking the main stage from 6 to 7 p.m. Worley has had 18 singles on Billboard Hot Country charts, including No. 1s “I Miss My Friend,” “Awful, Beautiful Life” and “Have You Forgotten?” which was No. 1 for seven weeks.

From 7:30 to 8:45 p.m. Eli Young Band takes the main stage. The members of Eli Young Band, Mike Eli, James Young, Jon Jones and Chris Thompson, met as students at the University of North Texas. Their No. 1 hits include, “Crazy Girl” and “Even If It Breaks Your Heart.”

Then Toby Keith finishes it off from 9:15 to 10:45 p.m. A platinum-selling musician and country music writer, Keith hit the scene with the release of his 1993 album “Toby Keith.” He has an extraordinary list of hit singles including: “Should’ve Been a Cowboy,” the most played country song of the 1990s; and “How Do You Like Me Now,” the No. 1 country song of 2000.
For complete information, tickets and scheduling go to http://www.gulfcoastjam.com.

Here’s the Lineup

Saturday

Main Stage at Frank Brown Park
4 p.m. – gates open
5-5:30 p.m. – PSO winner
6-7 p.m. – Darryl Worley
Darryl Worley has had 18 singles on Billboard Hot Country charts, including No. 1s “I Miss My Friend,” “Awful, Beautiful Life” and “Have You Forgotten?” which was No. 1 for seven weeks.
7:30-8:45 p.m. – Eli Young Band
The members of Eli Young Band, Mike Eli, James Young, Jon Jones and Chris Thompson, met as students at the University of North Texas. Their No. 1 hits include, “Crazy Girl” and “Even If It Breaks Your Heart.”

9:15-10:45 p.m. – Toby Keith
A platinum-selling musician and country music writer, Toby Keith hit the scene with the release of his 1993 album “Toby Keith.” He has an extraordinary list of hit singles including: “Should’ve Been a Cowboy,” the most played country song of the 1990s; and “How Do You Like Me Now,” the No. 1 country song of 2000.

Team Cocktail Stage at Boardwalk
9 a.m. – gates open
10-10:30 a.m. – Keelan Donovan
10:45-11:15 a.m. – Gimm-Icky
11:30 a.m.-12:15 p.m. – Mockingbird Sun
12:30-1:15 p.m. – Black Jack Billy
1:45-3 p.m. – Craig Campbell
3-5 p.m. – DJ Hish

Landshark/Jim Beam Stage at Edgewater
9 a.m. – gates open
10-10:30 a.m. – Slamabama
10:45-11:15 a.m. – Hoss Skelton
11:30 a.m.-12:15 p.m. – Griffin Peterson
12:30-1:15 p.m. – Tyler Farr
1:45-3 p.m. – Colt Ford

Pepsi Experience Stage at Frank Brown Park
11-11:20 p.m. – after show TBA

Harley-Davidson Stage at Seahaven
9 a.m. – gates open
10-10:30 a.m. – Grayson Rogers Band
10:45-11:15 a.m. – Anthony Orio
11:30 a.m. – 12:15 p.m. – Brothers Osborne
12:30-1:15 p.m. – The Cadillac Three
1:45-3 p.m. – Corey Smith

Late Night Stages at Club La Vela
1:30-2:30 a.m. – Mockingbird Sun
1:30-2:30 a.m. – Zachary Carter

Friday

Main Stage at Frank Brown Park
4 p.m. – gates open
6-7 p.m. – Blackberry Smoke
7:30-8:45 p.m. – The Charlie Daniels Band
Charlie Daniels is best known for his No. 1 Country hit “The Devil Went Down to Georgia,” but has been performing since the 1950s. He was inducted into the Grand Ole Opry in 2008 and the Musicians Hall of Fame Museum in 2009.
9:15-10:45 p.m. – Brantley Gilbert
Brantley Gilbert’s “Country Must Be Country Wide” was No. 1 on the Hot Country Songs charts in 2011 and in 2012, “You Don’t Know Her Like I Do” also reached No. 1.

Team Cocktail Stage at Boardwalk
9 a.m. – gates open
10-10:30 a.m. – Garrett Miles
10:45-11:15 a.m. – Friends of Lola
11:30 a.m.-12:15 p.m. – Danielle Peck
12:30-1:15 p.m. – Erik Dylan
1:45-3 p.m. – Tracy Lawrence
3-5 p.m. – DJ Hish

Landshark/Jim Beam Stage at Edgewater
9 a.m. – gates open
10-10:30 a.m. – Ryan Kendrick
10:45-11:15 a.m. – Hannah Ellis
11:30 a.m.-12:15 p.m. – Michael Ray
12:30-1:15 p.m. – Angie Johnson
1:45-3 p.m. – Chase Rice

Pepsi Experience Stage at Frank Brown Park
11-11:20 p.m. – Cole Taylor after show

Harley-Davidson Stage at Seahaven
9 a.m. – gates open
10-10:30 a.m. – Sarabeth
10:45-11:15 a.m. – PSO 6th runner up
11:30 a.m. – 12:15 p.m. – Chris Weaver Band
12:30-1:15 p.m. – TBA
1:45-3 p.m. – Drake White and The Big Fire

Late Night Stages at Club La Vela
midnight-1 a.m. – Drake White and The Big Fire
midnight-1 a.m. – Zachary Carter
1:30-2:30 a.m. – Erik Dylan
1:30-2:30 a.m. – DNA

Thursday

Main Stage at Frank Brown Park
4 p.m. – gates open
6-7 p.m. – Tate Stevens
7:30-8:45 p.m. – Kip Moore
9:15-10:45 p.m. – Trace Adkins
Trace Adkins debuted in 1995 with the album “Dreamin’ Out Loud” and has since released seven more original albums and two greatest hits compilations. He has had more than 20 Billboard country music chart hits including No. 1s: “(This Ain’t) No Thinkin’ Thing,” “Ladies Love Country Boys,” and “You’re Gonna Miss This.”
He’s also been on “Hollywood Squares” and “The Celebrity Apprentice,” as well as authored an autobiography called “A Personal Stand: Observations and Opinions from a Free-Thinking Roughneck” and appeared in the movie “The Lincoln Lawyer.”

Schedule

Team Cocktail Stage at Boardwalk
9 a.m. – gates open
10-10:30 a.m. – Joe Bachman
10:45-11:15 a.m. – The Vespers
11:30 a.m.-12:15 p.m. – PSO 2nd runner up
12:30-1:15 p.m. – Katie Armiger
1:45-3 p.m. – Greg Bates
3-5 p.m. – DJ Hish

Landshark/Jim Beam Stage at Edgewater
9 a.m. – gates open
10-10:30 a.m. – Jordan Covington
10:45-11:15 a.m. – PSO 4th runner up
11:30 a.m.-12:15 p.m. – PSO 4th runner up
12:30-1:15 p.m. – Kirstie Lovelady
1:45-3 p.m. – Jerrod Niemann

Pepsi Experience Stage at Frank Brown Park
11-11:20 p.m. – Kirstie Lovelady’s Red Solo Cup After Party

Harley-Davidson Stage at Seahaven
9 a.m. – gates open
10-10:30 a.m. – County Line Road
10:45-11:15 a.m. – PSO 5th runner up
11:30 a.m. – 12:15 p.m. – PSO 3rd runner up
12:30-1:15 p.m. – Natalie Stovall and The Drive
1:45-3 p.m. – Brett Eldredge

Late Night Stages at Club La Vela
midnight-1 a.m. – The Kicks
midnight-1 a.m. – Zachary Carter
1:30-2:30 a.m. – DNA
1:30-2:30 a.m. – Zachary Carter

Performers’ information was compiled from Wikipedia.
Performance Line-Up was gathered from http://www.gulfcoastjam.com/lineup/

Whining is not a good exercise!!!

Those of you who know me will find it hard to believe that I have allowed myself to get in this condition. Running and working out has always been an important part of my life. Running was quite spiritual to me and allowed me to pray and be thankful for so much.  Quite a departure from the norm, I stopped exercising and stopped paying attention to nutrition.  I think that I forgot that whining and moaning about my weight and my physical condition does not change anything.  In fact it does not only keep change at bay it allows for negative outcomes.

Thankfully a few days ago I had the good sense to call a friend and admit that unless I met someone or was accountable I was going to keep on hitting that snooze button. My opportunity clock has been blaring and I have ignored it.  The fact that I have become a larger version of myself has not been enough of a negative to change my bad behavior.  At 54 I realize that I am responsible for my health and the only way to do that is to stop whining and start working.

I decided I would very publicly announce that I am going back to basics and paying attention to what I can do to be the master of my good health and physical fitness. And in keeping with my understanding that we are what we think about and talk about I am changing my self talk to reflect that core belief.

Today Hugh and I walked on the beach in Laguna Beach and the joy of seeing those beautiful waves and feeling the breeze on my face was great encouragement today.

Each step I took I was thankful that even though I was slow I was moving forward.  With each step I took I thanked God that I still had the ability to change. With each step I thought of all of my blessings. With each step I thought of all the many people who would be so grateful to be here walking on this gorgeous shoreline.  With each step I reinforced that the movement and the motion forward will propel me to a better place physically, mentally and emotionally.

So take this walk with me and if you are reading this share with me a time when maybe you too thought that whining was an exercise.  If you are like me you found out that it does not burn calories so you might as well hit the road.  And as we journey please remember what I always say, “The only people we have to get even with are those that have helped us.”

Quack Quack Happy Happy Happy

Happy Happy Happy is a term that our friends At Duck Dynasty love to shout!!! We are shouting it also because we are excited about our upcoming Duck Race to support Beach Care Services.

Beach Care Services is a group of people who come together with the help of a benevolent community to help our neighbors. BCS offers short-term assistance to those who would not find help in other places. We celebrate the giving because it makes all of us better and happier.

Our Duck Race this year should prove to be a grand event and it is held At Grand Panama Resort at their gorgeous pool deck. There will be food, drink, music and lots of fun. Tickets are only 10 per person and will give you the chance of having he winning duck. You will also have the joy of seeing grown adults trying to ride a big duck…. now that is worth coming out for. WE hope to see you all there!!!

Buying A New Home? Which Mortgage Loan is the Best?

Are you in the market to buy a house?  What kind of mortgage loan do you want? The best loan with the lowest rate of course. That is an easy answer. What is not so easy is determining the ins and outs of the various products available. It all depends on several things:

  • How much are you paying for your home?
  • What down payment are you able and willing to make?
  • Where is your home located? Certain products have geographical restrictions like the USDA Rural Housing loan.
  • Do you have VA loan eligibility?
  • Are you buying a home that will need a Jumbo loan?
  • Are you buying a stick-built or manufactured home?

There are so many variables and loan products, each with its own pros and cons that it quickly becomes a mind boggling process.  Over the next few weeks I will feature a different mortgage loan product and discuss the ins and outs of each.  You are welcome to email specific questions to me at mtarleton@englending.com and also visit my website at www.bankofengland.us.

This week’s featured mortgage is the:

USDA Rural Housing Loan

The Good:

  • This loan offers 100% financing for qualified buyers.
  • It is a government backed loan which means the interest rates are normally lower than conventional loans.
  • This loan is geared towards borrowers with low to moderate income levels.
  • This loan is a lower cost loan when compared side by side with the FHA loan.

The Bad:

  • The property you are buying must be located in an area deemed eligible by USDA and they did not create this program for city slickers.  If you are buying in Bay County there is a good chance the house is eligible.  Areas which are eligible are typically located outside the city limits, but you can find a link to the eligibility maps here:  http://www.bankofengland.us/loanOptions/Featured/RHS%20Loan%20Program/
  • USDA also has a maximum income limitation to qualify.  It’s not just your income but the income of everyone that resides in your household whether they are on the loan or not (even the teenage part-time worker).  The link posted above will take you to a page that you can input your information to see if you are eligible based on your income and household information.
  • The loan has to be underwritten twice, once by the lender which is usually a 3-4 week process, and then again by the Statewide USDA office. Currently the Florida USDA office in Gainesville is telling lenders to expect 30-40 days for files to be underwritten. That makes the total process start to finish around 60-70 days.
  • Does the house you are buying have a pool? If so, USDA will not finance any value to be given to the pool.  It’s not that a USDA cannot be made if there is a pool but the house must appraise on its own merit with no value given to the pool.

The Ugly:

  • Since I moved to PCB, I have run across several service members that were made USDA loans rather than VA loans and are now trying to refinance to lower their rates.  Had these people taken out VA loans rather than USDA loans when they bought their houses years ago they would now be much better off because they could refinance them more easily. I’ve seen people with higher rate USDA loans not be able to refinance to lower their rates for a variety of reasons such as (1) they are now making too much money and are over the income limitation threshold, (2) they no longer live in the house (military tend to move every few years), (3) they have married and the household income is too high and over the threshold limit, etc…  However, this should not scare anyone from getting a USDA loan now. There is not much likelihood that rates will ever be this loan again and especially.

 

One important thing to consider is that while the USDA loan does offer 100% financing, it does not provide financing for closing costs and pre-paid items like insurance and property taxes.

Despite a few items to consider, the USDA loan is still a great loan, especially if you want no down payment.  It is a much better and less costly loan than the FHA loan.  USDA charges an up-front Funding Fee of 2% which is financed into your loan and also charges 0.40% that is paid monthly included in your payment amount. Compare with FHA’s monthly mortgage insurance cost of 1.35% this is definitely the way to go if you and the house you are buying meet the qualifications.

Mike Tarleton
Sr. Mortgage Loan Officer
Bank of England
850-866-2963 (Cell)
706-888-0980 (Cell / Text)

NMLS: 264821
Logos with pic

Laketown Wharf to Undergo $10 Million Renovation

Looks like they’re trying to breathe some more life into Laketown Wharf.  I have history with this resort and have always thought it was a fantastically interesting place.  The developer certainly went big when it was developed and I’ve always thought it had huge potential.

There are several pools, the condos are large and quite nice and most of them have wonderful views of the gulf.

The renovations include adding new amenities including a grocery store and deli, leasing center, redecorated hotel lobby, conference/meeting rooms, business center, new pool and boardwalk furniture, family zone, owners’ lounge and arcade.  Additional renovations include expanding the deck, adding new fountains and landscaping, opening the lake to the public and more. Plus, area residents and visitors should be on the lookout for Laketown Wharf turtles that will be coming to town soon. The project is expected to be completed by June 2013.

Read more about Laketown Wharf here.

Full press release.

PANAMA CITY BEACH, FL (March 12, 2013) – Laketown Wharf, currently offering short- and long-term vacation rentals in the heart of Panama City Beach, FL, will undergo a $10 million renovation, adding new amenities including a grocery store and deli, leasing center, redecorated hotel lobby, conference/meeting rooms, business center, new pool and boardwalk furniture, family zone, owners’ lounge and arcade. Additional renovations include expanding the deck, adding new fountains and landscaping, opening the lake to the public and more. Plus, area residents and visitors should be on the lookout for Laketown Wharf turtles that will be coming to town soon. The project is expected to be completed by June 2013.

“The renovations at Laketown Wharf will make this a premier property in the area,” says Wade Hundley, CEO of ST Residential. “There’s no better investment than beach property and these upgrades are greatly increasing its value.”

The renovations at Laketown Wharf coincide with city improvements in the area, further increasing the investment opportunity in this incredible property. Laketown Wharf already boasts the area’s most comprehensive set of amenities with five pools, including one zero-entry pool overlooking the Gulf of Mexico, a 10th floor rooftop pool and an island pool secluded in the middle of a private lake, along with a spectacular nightly fountain and water show.

With spacious one-, two- and three-bedroom floor plans, sweeping views and convenient beach access, Laketown Wharf offers all the elements of a great vacation home with the casual luxury and convenience of a resort. Additional resort amenities include 52,000 square-feet of lakefront boardwalk, a fully-equipped fitness center, covered parking and kids’ playground along with the sugar-white beaches of the Gulf of Mexico. All hotel rooms are fully furnished and professionally decorated featuring 32″ flat screen TVs and high-speed internet. Every balcony faces the water, offering spectacular views of the Gulf, lake and golf course. And, with a playground overlooking the lake and seasonal kids’ programming through Kidz Club, there’s something for everyone in the family to enjoy at Laketown Wharf. Kidz Club offers a variety of activities for children ages four through 12 including a nightly drop off program, “dive-in” movies, crafts, games, poolside activities and more.

Whether it’s for a quick getaway or a lengthy stay, Laketown Wharf makes an unforgettable beach vacation attainable with great pricing and specials throughout the year. Weekly stays begin at just $500 for a one-bedroom, two-bathroom condo that sleeps up to four people; $700 for a two-bedroom, two-bathroom condo that sleeps up to six people; and $900 for a three-bedroom, three-bathroom condo that sleeps up to eight people.

Nightly rates vary throughout the season and great deals and specials are often available. With a one-bedroom, two-bathroom condo that sleeps up to four people beginning at just $109 per night; a two-bedroom, two-bathroom condo that sleeps up to six people beginning at $129 per night; and a three-bedroom, three-bathroom condo that sleeps up to eight people beginning at just $149 per night, Laketown Wharf is ideal for a quick escape to the beach.

Apartments are also available for rent, with leases ranging from seven to 18 months. One-bedroom, two-bathroom apartments start at $935 per month; two-bedroom, two-bathroom apartments start at $1,195 per month; and three-bedroom, three-bathroom apartments start at $1,495 per month. Rent includes cable with HBO, trash and quarterly pest control services. Military discounts are available.

New retail space on the property will also be available for lease soon.