Why NOW is the Time to Refinance Your Home

If you've been thinking about refinancing your home, now is the time to do it. Whether you're looking for a better rate or you want to shorten the length of your loan, refinancing now might be the right move. In today's blog, your Lake of the Ozarks mortgage lender discusses why NOW is the time to refinance your home at the Lake of the Ozarks.

Low Interest Rates

Interest rates currently remain in historically low territory. Consumer inflation has remained tame over the past few months, and tame inflation tends to be good news for Lake of the Ozarks home loan rates since they are tied to mortgage bonds. Inflation is also one of the many economic factors the Federal Open Market Committee (FOMC) considers when setting monetary policy. July's meeting notes didn't provide a clear signal regarding when the Fed may next change the Fed Funds Rate. This is the rate banks use to lend money to one another overnight. The September meeting provides the next opportunity for the Fed to consider an adjustment. An increase in the Fed Funds Rate could negatively affect home loan rates, so this is something to keep an eye on. One of the main reasons people choose to refinance their home is to get a better rate. With the possibility of an increased Fed Funds Rate, now is the time to talk to the best mortgage lender at the Lake of the Ozarks about refinancing your home before interest rates start rising.  

Changing Loan Terms

Historically low interest rates have enticed more homeowners to refinance in order to shorten their loan term. Depending on the rate you had before and what you can secure now, homeowners could possibly cut the loan term in half without a huge jump in monthly payments. In addition to the term length, you need to consider other factors affecting your loan. Do you have an adjustable-rate mortgage? If so, you may want to consider refinancing to a fixed rate, as interest rates could start rising in the near future. They've remained at historic lows for a while now, and there's no telling exactly what the Fed Funds Rate will do and how mortgage rates could be affected in the near future.

Refinancing may not be the right move for everyone, and talking to a mortgage professional is the first step. When it comes to your Lake of the Ozarks home financing needs, Lakelender Lasson is committed to working with you every step of the way. I'll discuss your options, offer competitive interest rates and back it up with the first class service you deserve!

For Lake area news, resources and tips on financial services, please 

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Michael Lasson

Sr. Loan Officer

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

Lake of the Ozarks Shootout is Here!

One of the most anticipated events of the season is here! The Lake of the Ozarks Shootout is back for its 28th year. Your Lake of the Ozarks mortgage lender has all the details on the week full of festivities leading up to the largest unsanctioned boat race in the U.S.

Shootout Schedule of Events

• Shootout Lil' Boat and Pontoon Poker Run - Friday, August 19
• Registration at Captain Ron's from 8-10 AM 
• Awards Party at Topsider at 6 PM 
• 7th Annual Mini Shootout at Ha Ha Tonka - Saturday and Sunday, August 20-21
• Registration at the Springs at Ha Ha Tonka - Friday Night at 5 PM 
• Practice Runs - Saturday 9 AM - Noon
• Racing - Saturday 1-5 PM 
• Racing - Sunday 9 AM - 4 PM 
• Awards Ceremony to Follow Races on Sunday
• The Great Shootout Treasure Hunt at Captain Ron's - Monday, August 22 
• Social Hour at Captain Ron's - 5-6 PM 
• Explanation of Rules - 6 PM 
• Treasure Hunt - 6:10 - 7 PM 
• Awards Immediately Following Hunt 
• Shootout Volleyball Tournament at Captain Ron's - Tuesday, August 23 
• Volleyball Tournament - Noon to 8 PM 
• Shootout Hall of Fame Dinner and Induction at the Stables at Cannon Smoked Saloon - Tuesday, August 23
• Social Hour - 6-7 PM 
• Dinner Served - 7 PM 
• Induction of the Shootout Hall of Fame Class of 2016 - 8:30 PM 

 

• Shootout on the Strip Meet and Greet - Wednesday, August 24 
• Meet & Greet Open to the Public - 5-10 PM 
• Make-A-Wish Powerboat Rides at Captain Ron's - Thursday, August 25 
• Rides from Noon - 4 PM 
• Shootout Auction & Poker Run Meet & Greet at Performance Boat Center - Thursday, August 25 
• Poker Run Registration - 4-9 PM 
• Meet & Greet - 4-9 PM 
• Auction - 7-9 PM
• Poker Run starting at Captain Ron's - Friday, August 26 
• Poker Run Registration & Breakfast - 7:30 - 10 AM
• Poker Run Awards Presentation - 6-7 PM 
• Vendor & Race Villages Open - Friday, August 26
• Open to the Public - 9 AM - 5 PM  
• Live Entertainment at Captain Ron's with The Cherry Pistols - 7-11 PM 
• DJ Kyle at Captain Ron's - 11 PM - 1 AM
• RACE DAYS - Saturday and Sunday, August 27-28
• Opening Ceremony - Saturday at 10 AM 
• Racing - Saturday 10 AM - 5 PM 
• The i-Berry's Live in Concert on the Barge at Captain Ron's - Saturday 7-11 PM 
• DJ Kyle at Captain Ron's - Saturday 11 PM - 1 AM 
• National Anthem - Sunday 10 AM 
• Racing - 10 AM - 3 PM 
• Awards Ceremony - 4 PM 

All proceeds from the event will benefit the Lake Area Rescue Teams and other charitable organizations.For more details on each of these family-fun events, visit: www.LakeoftheOzarksShootout.com.

Annual events like these, especially ones that raise money for local charities, are what make living at the Lake of the Ozarks so great! If you're interested in making our community a second home, talk to me about all your Lake of the Ozarks home financing needs. Together we'll open the doors to your second home at the Lake of the Ozarks! Give me a call at 573-746-7211 today.

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Loan Officer

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

3 Ways to Prevent a Foreclosure

In times of hardship, it's easy to fall behind on your Lake of the Ozarks mortgage payments. Your monthly home loan payment is likely your largest monthly bill. If you are struggling to make your monthly payment, and are worried about a possible foreclosure on your home, the best thing to do is contact your mortgage lender at the Lake of the Ozarks to discuss your options. Let's take a look at 3 ways to possibly prevent a foreclosure on your home.

1. Apply for a Loan Modification. 

A loan modification is when your lender agrees to adjust the terms of your loan, either to reduce the payment amount or the rate, to make the payment more affordable to you. Federal and state laws prohibit foreclosures when a loan modification review is in process. The Making Home Affordable (MHA) Program is a government initiative designed to help homeowners avoid foreclosure. A loan modification application is similar to that of your original loan, in that you'll have to provide a lot of documentation. This documentation will have to show and explain what caused your hardship, how long you think it will last and what your new income is.

2. Short Sale Your Home. 

If your sudden hardship is likely to be long-term and you know that you cannot afford to keep your home, you might consider a short sale of your home. This option is only applicable to homeowners that owe more on their home than what it's worth. Your mortgage lender must approve the short sale before you list your home, as they have to agree to taking less than the loan balance when the home sells. When it comes to the possibility of a short sale, the two most common hardship reasons accepted are that lower income has made your home unaffordable or that you're subject to a mandatory job relocation.

3. File for Bankruptcy. 

Filing for bankruptcy is a very serious situation and should be thoroughly considered. However, it can help you prevent a foreclosure on your home. A bankruptcy halts a foreclosure as soon as it is filed. While a lender can appeal with the bankruptcy court to continue the foreclosure, the process can take at least one to two months.

If you're concerned with falling behind on your mortgage payments, talk to your mortgage professional as soon as possible. Don't keep struggling to make the payments; it's better to start dealing with the issue now, than to wait until it gets out of hand and you are several months behind in payments. As your Lake of the Ozarks mortgage lender, I'm here to help you with all your Lake of the Ozarks financing needs, and I am here for you every step of the way!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Loan Officer

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.

The 8th Annual Bagnell Dam Duck Drop

Join us at the 8th Annual Bagnell Dam Duck Drop this weekend! From the golf tournament on Friday to the fun zone and duck drop on Saturday, there's no place better to be this weekend than the Lake. Your Lake of the Ozarks mortgage lender is a proud sponsor of this great family-fun event!

www.GreatDamDuckDrop.com

Duck Drop Golf Tournament 

The 4th Annual Duck Drop Golf Tournament will take place this Friday, August 5 at The Ridge golf course. It is a 4-person scramble with a ladies flight. Registration and lunch will start at noon, with a 1:30 shotgun start for the tournament. Entry is $125 per player and includes 10 duck drop tickets, a tournament goody bag and an awards ceremony immediately following the tournament. In addition to the tournament, there will be a chance to win a new boat with the hole in one contest, and a chance to win $5,000 with the putting contest!

www.GreatDamDuckDrop.com

Duck Drop & Fun Zone 

The Family Fun Zone will be open from 10 AM to 1 PM, and the ducks will fly at noon. Bring the kids (ALL AGES) down to the Dam Bait & Campground for a family fun zone with games, dunking booth, bounce houses, martial arts and dance demonstrations, food, and lots of prizes and goodies! You can walk to the duck drop viewing area from the family fun zone and watch the ducks as they fall from a helicopter and pontoon boats into the Osage River and race to the finish line. The first duck to cross the line will win $5,000! You can purchase tickets until 11 AM at the family fun zone; they are $5 each.

All funds raised remain local & are distributed to non-profit organizations via the Ozark Coast Kiwanis Organization. Your favorite mortgage lender at the Lake of the Ozarks hopes to see you there. Come out and support this great community that we live in. If you don't live here, but are interested in purchasing a second home at the Lake of the Ozarks, I'm here for all your financing needs!

For Lake area news, resources and tips on financial services, please 

LIKE my Facebook Page, Follow me on Twitter or Connect on LinkedIn

Michael Lasson

Sr. Loan Officer

NMLS #: 493712

2265 Bagnell Dam Blvd, Suite B

PO Box 1449

Lake Ozark, MO 65049

Direct:  (573) 746-7211

Cell: (573) 216-7258

Fax:(573) 693-9141

Email:  mlasson@fsbfinancial.com

**The postings on this site are my own and do not necessarily represent First State Bank of St Charles’s positions, strategies, or opinions.