Joseph Pettinella's blog

After much research and feedback from lenders as well as home buyers, Fannie Mae has announced that it will provide an enhanced affordable lending product designed to meet the financial needs of responsible, credit-worthy buyers.  

Fannie has recognized the many financial challenges many would-be homebuyers are facing.  Many can't afford a large down payment, they may have multiple student loans, and/or they may rely on income from non-traditional sources, such as parents or other family members.  These factors have impacted the ability of a lot of people from qualifying for a mortgage.  Well, that may be about to change . . . perhaps for YOU!

The new program, called the HomeReady™ Mortgage, will be available from lenders later this year, and will offer expanded eligibility guidelines which will be real game changes for a lot of people who could not previously qualify for a mortgage:

More good news for the real estate industry, and the economy as a whole going into the new year.

The final U.S. Economy in a Snapshot report from the New York Federal Reserve for 2015 shows overall consumer spending remains fairly strong based on healthy income growth and improving conditions in the labor market.  Consumers’ sentiment about the economy remains “fairly upbeat,” according to the Fed’s report with data available through Dec. 9, 2015. The Fed also found that consumers’ consumption of goods increased 0.2 percent, “reflecting a moderate increase in the durables and nondurables categories.”

According to the Fed report, after a slowdown in September, employee compensation increased a strong 0.5 percent in October. “With income growing faster than consumption, the personal saving rate rose to 5.6 percent, the highest level in three years,” according to the Fed.

U.S. Economy in a Snapshot provides a condensed, comprehensive overview of current economic and financial developments with charts and commentary on a broad range of topics that include labor and financial markets, consumer behavior and the global economy.

We have so many special and unique resources here in the Hudson Valley.  The Polar Express experience during the holiday season is just one of the must-do activities with your small children or grandchildren that believe in Santa Claus.  It is so magical!

The Polar Express trains depart from Kingston Plaza and take riders on a magical journey set to the sounds of the motion picture soundtrack.  Pajama-clad passengers relive the magic of the story and see their favorite characters come to life as they are whisked away aboard The Polar Express on a round trip to the North Pole.

The conductor comes around and punches tickets and chefs serve hot chocolate, just like in the film. There is also a sing-along and a special reading of the classic story.  At the North Pole, Santa boards the train to greet the children and gives a special sleigh bell to all those who believe.

Bring the children dressed in their PJ's so they really feel like they are in the story.

Here is a link to the Catskill Mountain Railroad for tickets.  Happy Holidays!