THE SHOWCASE
SUNDAY, FEBRUARY 26, 2017
CAPE COCOA Beach-Rentals
Furn, unfurn. Call tell us your needs!
Realty 2000 One, Inc 321-784-2700
MERRITT ISLAND - SUNDAY 12-2PM
724 Carriage Lane -4/2 Custom
Built pool home on almost ½ acre,
Large Kit w/SS appls, Master suite,
Oversized 3 car gar. $464,900.
Call Leslie Boucher 321-863-8657
WANT TO BROWSE CLASSIFIEDS
ONLINE? Go to
www.floridatoday.com Click “CLASSIFIEDS”
Open House Sunday 1pm-3pm
3 BED/2 BATH
MOVE IN READY,
HUGE SCREENED PORCH
1590 VAN ECK ROAD NE
PALM BAY 32907
$189,600, MLS # 769731
Mobile/
Manufactured Homes
Canaveral Groves 3 Bdrm. 2 BA,
Owner Finance or Rent To Own,
Low Payments 321-631-8440
BUY A CAr
Adopt A pet
NATIONAL REALTY
Steve Scheller
321-720-7653
National Realty of Brevard, Inc.
PALM BAY
Beautifully maintained, custom built
Pool Home with 3Bdrm/2Ba/2Ga
enjoys vaulted ceilings, wrap-around
breakfast bar, separate living, dining
& family rooms $198,900 Open 12-3 at
1235 Stadt Road NW
321-868-5555
BETTER HOMES AND GARDENS
REAL ESTATE STAR
BUY A BoAt
FINd A treASUre
2569 Long Sandy Circle
Merritt Island, FL 32952
Open House Sunday Feb 26 1:30– 4pm
3 Bedrooms with 4th Bedroom / den
Custom Pool with Spa on a 1/3 Acre
Lot. Directions: Off S. Tropical Trail in
River Grove Subdivision 26 miles North
of Pineda Cswy Asking price $439,900
9MLS# 770843
Call Susan Frederick: 321-890-6625
205 Price Court,
Satellite Beach, FL 32937
Open House Sunday Feb 26 1 – 4 pm
3 bedroom / 2 bath, 3 blocks to the
beach Nice floor plan, needs updating Priced to sell $229,000;
MLS# 775374 . Directions: A1A to
Roosevelt, 3 blocks to Price Ct, On
the corner of Price & Roosevelt.
Jeff Chancey / Toie Crespi:
321-698-4428
2990 Jupiter Blvd SE,
Palm Bay, FL 32909
Open House Sunday Feb 26 1 – 3 pm
Spacious 4/2/2 with great floor plan
$205,900 / MLS# 776088
Directions: From Palm Bay Rd, go
West to Minton, South 3 miles & East
on Jupiter. House on right.
Hosted by Nancy Lundell
321-474-3890
Prime 3.52± Acre
Multi-family Development Site
1701 Forest Knoll Drive NE, Palm Bay, FL 32905
March 23rd @ 11AM
Contact Francis Santos 754.220.4116 or [email protected]
800.331.6620
fisherauction.com
FT-0000582290
MELBOURNE - Eau Gallie Area,
Small Furnished Efficiency, $550/mo.
No Drugs. No Pets. Call 321-254-4229
321-768-7600
515 E. Melbourne Avenue
Melbourne, FL 32901
Crane Creek Landings Townhomes
Open House Sunday Feb 26 1 – 5 pm
Brand New Construction in Downtown Melbourne! Waterfront community -- Starting at $349,900
Directions: 192 to S on Babcock, E on
Melbourne Ave. Crane Creek Landings Townhomes on Right
Jessica Pion: 321-987-2421
3% Broker Cooperation | Subject to All Terms of Sale | Lamar Fisher AU93;AB106
FLORIDATODAY.COM/HOMES
Go Beyond the Job Search.
1306 RAMONA DR
Huge house. Over 3,000 sf. 4 BR/ 4 BA.
New a/c, updated kitchen. $465,000.
Call Lauren Dowling-Roy 321-223-4672
Premier Poperties, R/E Inc.
Viera, 5 Bdrm, 3 Ba, 2973 sq. ft., 3 Car
Gar, Gated Comm., Hdwd Flrs, Custom Built 2016 Waterfront Executive
Home, Circular Drive, Heated Salt
Water Pool/Spa, in Exclusive Charolais
Estates. Erin Fernandez, Realtor,
Keller Williams Brevard (321)514-5784
FLORIDATODAY.COM/HOMES
SUN FEB 26. 1-4PM
200 CAMINO PLACE
On almost 1/2 acre right across st.
from ocean. Almost 2600 sf. huge
lanai w/pool & tropical landscape.
New a/c. $449,900
| 11F
ABSOLUTE AUCTION
MELBOURNE BEACH
352 AQUARINA BLVD
Almost 1800 sf. Brand new kitchen,
wood flrs., 3 balconies overlooking
botanical gardens. $288,900.
FLORIDA TODAY
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2092 Woodfield Circle
West Melbourne, FL 32904
Open House Sunday Feb 26 1 - 3pm
Immaculate 3/2 custom built by
Schwab with lake views! High eff. A/C
2016! Granite in kitchen & baths.
10 ft. ceilings. Beautiful hardwood
floors in master bdrm, open
floorplan. 2496 sq.ft. under air.
Accordion shutters. Upscale neighborhood walking distance to great
schools! A+ Location! Directions:
192, S. on Minton, E. Heritage Oaks
Blvd., left into Woodfield.
Call Anne Schneider: 321-537-2788
(gated).
2260 Front Street, #202
Melbourne, FL 32901
Riverfront unit in Windward Passage
Open House Sunday Feb 26 1–4 pm
3/Bed 2/Bath & garage. Amenities
include Pool, Cabana bath, Dock &
Kayak launch area. Walk to shops &
restaurants. Boat slips available
Directions: 192 E to Front St.,
Head South Condo just before
Chart House on left
Call Paul Stonecipher: 321-243-1307
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MORTGAGE CORNER
Getting the
House that
you Love
Starts with
PrimeLending
Home is where
the Heart Is
Is prepayment a good strategy for
cutting mortgage loan payments?
Q:
By Ilyce Glink and Samuel J. Tamkin, Tribune Content Agency, Real Estate Matters
One very important point I
never hear discussed is what the
lender does with the extra loan
payments borrowers make.
If you pay extra on your mortgage in
advance of when it is due, does the lender
require that the next payment be paid on
time or can you simply delay paying some
payments until the total paid in agrees to
the payments due?
It would seem that many payoff
amounts calculated at some point in the
future by the lender might go back to the
original recorded security deed and original
amortization schedule with the extra
payments overlooked.
Is the lender expected to recalculate the
amortization schedule each time payments
are made in advance? Who keeps track
of advance payments and how are they
treated in the calculation of interest and
principal remaining on the mortgage?
How would a homeowner take exception
to how the lender records the payment? If
the amortization schedule is not followed,
how is the interest for income tax purposes
reported by the lender?
You always have to make your
monthly mortgage payment on
time. If you make it too early
in the month, it’s possible that the lender
will assume it’s a prepayment of the balance
owed, will apply it that way, and then ding
you for a late payment if you don’t make
the regular payment on time. That’s why
we always suggest making prepayments
separate from your regular monthly
payment. You can put it in the same
envelope, but use a separate check that is
marked “apply to loan balance.”
Reamortization happens when you
prepay your loan but you might not hear
about it from the lender. If you send
prepayments when you have a 30-year
fixed rate mortgage, the lender shortens the
A:
length of the term of your loan. That is to
say, instead of having to pay off the loan
over 30 years, your prepayments shorten the
length and you pay it off in full after, say,
23 years. But your monthly payment stays
the same.
If you have an adjustable mortgage, the
lender will reamortize the loan every time
the loan adjusts. If you make prepayments
on the loan, the lender will adjust the
payment every time the loan adjusts.
You should keep track of the extra
payments you’re making and you should
see that reflected at the end of the year in
your statement. (Sometimes lenders will
show it on the next month’s statement, but
all of the payments should be shows in the
year-end statement.) The interest that you
pay each year is tracked by the lender and
will be provided to you in a 1099 as the
next year begins. If you suspect that your
lender has incorrect figures, you could hire
someone to do an accounting of transactions
and figure it out.
And, by the way, the lender should
only charge you interest on the amount of
money you have outstanding whether it’s an
adjustable loan or a fixed rate loan. The only
difference is that the prepayment shortens
the length of a fixed rate and fixed term
loan and a prepayment reduces the monthly
payments required on an adjustable loan
while the length of the loan stays the same.
Hope this helps.
Ilyce Glink is the creator of an 18-part
webinar+ebook series called “The Intentional
Investor: How to be wildly successful in real
estate,” as well as the author of many books
on real estate. She also hosts the “Real Estate
Minute,” on her YouTube channel. Samuel J.
Tamkin is a Chicago-based real estate attorney.
Contact Ilyce and Sam through her website,
ThinkGlink.com. Image: studiogstock/iStock/
Thinkstock
You deserve to live in a house that’s right for you. Whether you
want to buy a new home or renovate the one that you’re currently
in, we offer a wide variety of loan options to help you reach your
homeownership goals.
Our process is simple and sweet, without any hassles or games.
When you work with us, you can count on step-by-step, personalized
guidance. We’re proud to offer:
• Competitive rates and fees
• Down payment assistance programs*
• Clear communication
• Timely results
Call today to discover the PrimeLending difference.
Kelli Beckel
Shelley Culp
Richard Bradbury
Branch Manager
Sr. Loan Officer
Sr. Loan Officer
Sr. Loan Officer
NMLS: 450382
NMLS: 599322
NMLS: 73384
Mobile: 321-446-2357
Mobile: 321-223-4641
Mobile:
772-783-5601
[email protected]
[email protected]
[email protected]
lo.primelending.com/sculp
lo.primelending.com/rbradbury
lo.primelending.com/kbeckel
7341 Office Park Place, Suite 204
Melbourne, FL 32940
*Income and purchase limits may apply. Please contact your PrimeLending loan officer for more details.
All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company.
Equal Housing Lender. © 2017 PrimeLending, a PlainsCapital Company. PrimeLending, a PlainsCapital Company (NMLS: 13649) is a wholly
owned subsidiary of a state-chartered bank and is an exempt lender in FL. V021216.
FT-0000579038