It’s no secret that buying a home can be a complicated and even confusing process – and now one survey showed just how stressful Americans say that process is.
As it turns out, many Americans, about 40%, say buying a new home is the most stressful event in modern life, according to a survey of 2,000 Americans by Homes.com. Another 44% said they felt nervous throughout the home-buying process.
In fact, many say that going on a job interview, hosting Thanksgiving dinner and applying for college are all less stressful life events than buying a home.
“First-time homebuyers are often stressed and overwhelmed when making such a large purchase like a home,” said David Hoegerman, Homes.com senior manager of content. “As a result, they are looking for guidance and assistance to help make the process easier and smoother.”
Here are some of the specific problems buying a home causes, according to the survey: continue reading
We are excited to announce that J.D. Kious was recently elected to serve a 3-year term on the Board of Directors of Journeys in Community Living. This will mark J.D.’s third term on the Board. He is also a past Board Chair. Journeys in Community Living is dedicated to supporting adults with disabilities in choosing and realizing their visions of where and how they live, work, and socialize.
JICL was established in 1975 as the Rutherford County Adult Activity Center. The organization, which changed its name in 2011, provides community participation services, industrial training services, job training and placement services, special services, residential services and transportation services to more than 120 adults with intellectual disabilities in both Rutherford and Cannon Counties in Middle Tennessee.
Journeys operates with the beliefs that everyone, regardless of disability, has the right to live a healthy and secure life; work at a meaningful job which they enjoy; live in a home of their own with whom they choose; have friends and other relationships in their lives; and to participate in and contribute to their communities.
Nearly a third of American homeowners may have no idea what their mortgage rate is.
That’s according to new data from Bankrate, which surveyed 2,194 adults, including 1,330 homeowners. When asked, 29 percent of respondents with a mortgage either didn’t know their rate or wouldn’t say. Understanding your mortgage rate is crucial because even the smallest difference can add up to tens of thousands of dollars over time. It’s an especially important number for homeowners with adjustable-rate mortgages, which rise and fall.
Let’s use a $200,000 home, since that’s approximately the median home value in the U.S., with 20 percent down and a 30-year mortgage as an example. A rate of 3 percent means you’d pay about $82,843 in interest over the length of the mortgage. A rate just 1 percent higher would cost $114,991 in interest — an increase of over $32,000. With mortgage rates rising to their highest level in years, it’s becoming an increasingly important decision for homeowners with adjustable rates to consider switching to a fixed rate.
Tennessee State legislature approves online notarization bill
Notaries are starting to put down their stamps and pick up a webcam. Every year, hundreds of millions of documents are notarized in the United States. Since the Roman Empire, notarizations have been done pretty much the same way: in person. Now, new technology and new laws are making it possible to skip the sometimes-problematic search for the notary stamp in favor of a video chat.
Notaries in the state of Tennessee will soon be allowed to perform online notarizations for signers nationwide after Tennessee State Legislature passed the remote notarization bill, empowering every Tennessee notary public to conduct notarizations online. With the overwhelming passage of HB 1794/SB 1758, the bill is now headed to Tennessee Governor Bill Haslam’s desk to be signed into law. Tennessee can join the movement and soon bring an antiqued process of finding a notary into the digital era.
Once the bill is signed, Tennessee notaries will join their counterparts in Indiana, Virginia, Texas, and Nevada in being able to perform online notarizations nationwide. The process is clear-cut. First upload a document to an app or website and get connected with a notary by video, on a split screen; verify your identity by showing a government-issued photo ID, and the notary witnesses you signing your name on screen using your finger or mouse. Then, the notary adds their electronic signature and a digital version of a stamp or seal. The whole transaction is recorded and secured on the cloud in compliance with retention rules. Both the signer and the notary can get copies.
Some concerns about digitization have divided the notary industry and America’s 4 million notaries are split on the idea. “It’s the notary issue of the year,” says Bill Anderson, vice president of government affairs at the National Notary Association. “Allowing that appearance to take place via audio/video communication technology is certainly new and to some extent, untested. … We’re being cautious. But we are trying to accommodate those that think this is a good idea and to add some security to it.”
“Of course, there will always be those who prefer to get their documents notarized in person, if only to hear the old-school stamp of approval.”
Sources: Ben Lane, HousingWire.com, Tennessee notaries will soon be able to perform online notarizations nationwide
Lauren Silverman, All Tech Considered, Notaries are starting to put down the stamp and pick up the webcam