Join us in Murfreesboro for our blood drive on January 5th.
Author: Megan Chastain
How will Housing be Impacted by the New Tax Plan?
Today President Trump signed a sweeping tax bill into law. You may be wondering how this impacts you from a housing perspective. We’ve got you covered.
Quick Recap
Property Taxes: Under the new plan, there will be a $10,000 cap on the amount you can deduct for any combination of state, local, and property taxes.
Interest Deductions: Mortgage interest deductions for new loans in 2018 will be allowed on loan debt only up to $750,000. The current law allows for deductions up to $1,000,000.
Currently, you can deduct interest on home equity loans up to $100,000. Under the new plan, interest on home equity loans will no longer be deductible.
Capital Gains Exclusion: While there was talk of this being changed, the final bill approved by Congress left this unchanged. Joint filers will still be able to exclude up to $500,000 when selling your primary residence provided you meet the residency requirement. The single filer’s exclusion amount will remain at $250,000.
This information does not constitute and is not intended to be a substitute for specific individualized tax planning advice.
Links to Information and Resources about the Equifax Data Breach and Protecting Your Identity
Are you worried about everything in the news regarding the Equifax data breach and don’t know if your personal information might have been exposed?
Or maybe you still don’t understand enough about what options you have to protect your credit.
You may even feel like you’re covered but want to help your family or friends know more, so that they can protect their credit in case their credit card numbers, birth dates, social security numbers, addresses, or driver’s license numbers were stolen.
We’ve compiled a list of links with information and resources about what Equifax says happened, and different steps you can take to protect your identity. We even listed them without hyperlinking so that you can see what websites you are going to. We truly hope this will be helpful to you and those you love.
To see if your personal information is potentially impacted by the Equifax data breach:
https://www.equifaxsecurity2017.com/potential-impact/
To read about what happened from Equifax, what data was accessed, what they are doing, and what you can do:
https://www.equifaxsecurity2017.com/consumer-notice/
For a video message from the Equifax CEO, and updates about what they are doing:
https://www.equifaxsecurity2017.com
For the list from Equifax of their frequently asked questions:
https://www.equifaxsecurity2017.com/frequently-asked-questions/
For information on how to enroll in the complimentary identity theft protection and credit file monitoring service from Equifax:
https://www.equifaxsecurity2017.com/enroll/
To place or lift a freeze on your Equifax credit file:
https://www.freeze.equifax.com
An article from the Consumer Finance Protection Bureau about identity theft and what you can do to protect yourself:
An article from the Federal Trade Commission about scams to look out for regarding the Equifax data breach:
https://www.consumer.ftc.gov/blog/2017/09/equifax-isnt-calling
The Federal Trade Commission’s article about what they recommend you do regarding the Equifax data breach:
https://www.consumer.ftc.gov/blog/2017/09/equifax-data-breach-what-do
Resources from the Federal Trade Commission about protecting your identity and what to do if someone has stolen your identity, or is trying to use your personal information to open accounts:
https://www.consumer.ftc.gov/features/feature-0014-identity-theft
Website from the Federal Trade Commission to help you report, and recover from, identity theft:
Federal Trade Commission consumer.gov website that explains what your credit history is and why it is important:
https://www.consumer.gov/articles/1009-your-credit-history
The official site for requesting a free annual credit report from AnnualCreditReport.com including information about credit reports:
https://www.annualcreditreport.com/index.action
Link to the Consumer Financial Protection Bureau confirming validation of AnnualCreditReport.com:
https://www.consumerfinance.gov/ask-cfpb/how-do-i-get-a-copy-of-my-credit-reports-en-5/
FIRST COMMUNITY MORTGAGE AND TENNESSEE COLLEGE OF APPLIED TECHNOLOGY ANNOUNCE INAUGURAL J.C. GORDON MEMORIAL SCHOLARSHIP
Murfreesboro, Tennessee (9/12/17) – The annual J.C. Gordon Memorial Scholarship, provided by First Community Mortgage (FCM) for the Tennessee College of Applied Technology (TCAT) in Shelbyville, Tennessee was initiated recently according to an announcement made jointly by Ms. Laura Monks, Interim President of TCAT and Keith Canter, CEO of FCM. The funding of the scholarship begins immediately and funds are being distributed to assist students beginning in the fall, 2017.
According to Canter, the scholarship is for $7,500 annually, in perpetuity through FCM Cares, the company’s charity and community service initiative. More specifically, funding will be done using a portion of the proceeds from FCM’s annual Tyler Morrissey Memorial Golf Tournament, held in Murfreesboro, TN.
“This annual scholarship has been created by unanimous vote of the FCM Cares board of directors in honor of J.C. Gordon, who was one of the founders of First Community Bank and was an original board member of First Community Mortgage,” said Canter. “J.C. passed away last year and he is certainly missed. He was a remarkable leader and his career is a testimony to what can be accomplished by someone with a high school diploma who is committed to excellence in their craft or trade. He made a difference in his profession and his community, and it is our pleasure to honor his memory and family with this scholarship. It is especially meaningful that we can do this in cooperation with an outstanding school in the town where he spent most of his adult life.”
The scholarship funds will be provided to TCAT annually, and they will be administered by TCAT leaders. The amount of funds being provided will allow TCAT administrators to provide support to multiple students for each of the trimesters of their academic year.
“What an excellent expression of honor to Mr. Gordon, and welcome help to students who may otherwise not have access to the technical education TCAT provides to help them improve their trade or craft,” said Monks. “What FCM has done is a fine example of support for developing the kind of workforce that is needed so badly here in Tennessee. The support of the Tennessee General Assembly for the kind of education we provide is encouraging, and having a company like FCM build on that is deeply appreciated. Our hope is that others will follow their example.”
Jennifer (Gordon) Feldhaus, one of J.C. and Edna Gordon’s four children, who resides in Shelbyville, said, “This is such a fitting honor of our Dad, and our family. We are so appreciative that the FCM Cares board of directors chose to do this. It is an affirmation to Dad and the life he lived, but also to the kind of hard-working, dedicated person who wants to use their abilities to advance their careers and make a difference in their community. We will be excited to see what a difference this makes in providing opportunity for students at TCAT in Shelbyville.”
Current Recipients:
- Manuel Moreno/ Welding, Machining
- Andrew Sells/Machine Tool Technology
- Reid Sisk/Machine Tool Technology, Drafting & CAD Technology – also President of Student Government Association
- Jacob Warren/Machine Tool Technology
About Tennessee Colleges of Applied Technology
The Tennessee Colleges of Applied Technology serve as the premier suppliers of workforce development throughout the State of Tennessee. The Colleges fulfill their mission by:
- Providing competency-based training through superior quality, traditional and distance learning instruction methods that qualify completers for employment and job advancement;
- Contributing to the economic and community development of the communities served by training and retraining employed workers;
- Ensuring that programs and services are economical and accessible to all residents of Tennessee; and
- Building relationships of trust with community, business, and industry leaders to supply highly skilled workers in areas of need.
About FCM Cares
Giving back and helping others within the community is one way FCM Cares can fulfill and make their mission statement a reality. The FCM Cares foundation is employee-managed and allows FCM to give back to our local communities in a more effective and efficient manner. They raise funds for the foundation through direct First Community Mortgage, Inc. employee and business partner contributions, special events and the fundraising efforts of its employees. Employees from the company are appointed as Directors of the foundation and distribute funds throughout the year in accordance with the foundation’s budget and the board’s approval.
The four areas of focus for FCM Cares include Education, Women/Children, Housing and the Military.
Learn more about FCM Cares at www.fcmcares.org.
About First Community Mortgage
Founded in 2002, First Community Mortgage is a wholly owned subsidiary of First Community Bank (TN) with operations centers in Murfreesboro, Louisville, Columbus and Kansas City. First Community Mortgage is a FNMA, FHLMC and GNMA seller/servicer and offers mortgage solutions to consumers and financial institutions. With mortgage volume of $2.1 billion in 2016, First Community Mortgage was ranked the #1 lender for new construction homes for the past 5 years as published by Metrostudy and #6 for 2014 in the Nashville Business Journal’s Book of Lists.
It’s Selling Time! Home Staging Apps.
Sometime in your life there will likely be an opportunity for you to upgrade your living by moving into a new home. With that exciting venture comes the territory of selling your current home. You’ll want to get the most value out of the sale and within the fastest timeline, but where do you start?
Decluttering and organizing your home to put its best face forward is a good start, but you’ll likely need to stage it even more to truly show off its assets. What is staging? According to this article from The Balance, “It’s beyond decorating and cleaning. It’s about perfecting the art of creating moods. Staging makes your house look bigger, brighter, cleaner, warmer, more loving and, best of all, it makes home buyers want to buy it.”
If you want to try staging your home without hiring a staging expert, here are some resourceful apps we found that could help you get started.
Resources for Home Staging
You may want to pick up some great (and inexpensive) decorative pieces for staging spaces in your home. This neat little app helps locate yard sales in your area so you can map out a route for treasure hunting the best unique decor to stage your home and create the mood of the room.
For some virtual redesign to before you buy, check out the Houzz app. It allows you to virtually try out various pictures of furniture in your own space before you make the purchase. You can even buy through the app if you love the look!
Another great virtual reality app, roOomy is great for stagers and consumers looking to picture your house as their home. Thanks to the app’s catalog of 100,000 3D products from 35 leading home furnishings retailers, you can mix real-time, live views of interiors with your own creative ideas, complete with virtual furnishings and home accessories.
It might sound basic, but when staging your home you’re going to need to make sure all your wall decor is hung straight! This will ensure your home is truly at its best when buyers come through.
Good luck in your home staging and selling your home!
These apps are suggestions and for entertainment only. First Community Mortgage, Inc. does not own, profit from or endorse any of these apps.
FIRST COMMUNITY MORTGAGE NAMES NATHAN GRAHAM REGIONAL MANAGER AND VICE PRESIDENT OF BUSINESS DEVELOPMENT
Murfreesboro, Tenn. (6/13/17) – Nathan Graham has been named the new Regional Manager and Vice President of Business Development for First Community Mortgage (FCM), according to an announcement by Keith Canter, CEO of FCM.
In his new position, Graham will continue to build on the increasing mortgage sales volume for FCM. His responsibilities will include coaching current FCM Loan Officers, recruiting and developing additional team members, coordinating sales, and representing FCM in area networking groups focused both on the community and the profession.
“Hiring Nate for this new position is a major step forward for First Community Mortgage,” said Canter. “In addition to having the right skills and experience to help us grow, Nate has the attitude, and represents the culture, of FCM. His enthusiastic support for the profession, and the unique way we operate, is confirmation that he will be a great addition to the FCM team. He understands our commitment to shareholders, clients, employees and the community, and we look forward to the results he will help us produce.”
Graham is a successful 15-year veteran of sales leadership in the mortgage profession in Middle Tennessee, specializing in sales, recruitment, and development. He was most recently with Movement Mortgage and was previously associated with First Residential Mortgage, and United Financial Mortgage. He is an active member of the Nashville Mortgage Bankers Association, and a graduate of Mississippi State University. Nate and his wife, Suzanne, have been married 9 years. They live in Brentwood with their two sons Gardner (8) and William (7).
“Joining FCM is more than a career choice. It is a life choice,” said Graham. “They have established the right foundation with both culture and expertise to continue their path to becoming the leading lender in all of Middle Tennessee. It will be a pleasure to add my experience and skill set to the professional team they currently have in place, and help develop and grow the success of FCM.”
About First Community Mortgage
Founded in 2002, First Community Mortgage is a wholly-owned subsidiary of First Community Bank (TN) with operations centers in Murfreesboro, Columbus, and Kansas City. First Community Mortgage is a FNMA, FHLMC and GNMA seller/servicer and offers mortgage solutions to consumers and financial institutions. With mortgage volume of $2.1 billion in 2016, First Community Mortgage was ranked the #1 lender for new construction homes for the past 5 years as published by Metrostudy and #6 for 2014 in the Nashville Business Journal’s Book of Lists.
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