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Cornerstone First Financial

The Mortgage Minute Update: July 26, 2011 For more information on Cornerstone First Financial, visit http ... (more info) (less info) ... Cornerstone FF ... "The ...

When to Lock In Mortgage Rates: 4 Signs It's Time |®

There’s no crystal ball, of course, but there are some ways to figure out when a rate lock is a good bet for you.

Sign No. 1: You’ve made an offer and are in contract

Generally, it makes sense to lock in your rate after you’ve made an offer that’s been accepted and you’re in contract to own a home. This means you can expect to close within a few weeks—and most lenders will offer to lock in your rate for free for 30 days. That’s the perfect window of time to take you through to the finish line.

All that said, there are instances where you may want to lock in for longer. Let’s say, for instance, you agreed to give the sellers time to find a new home before they move out. Or if you’re self-employed, the lender may take longer to verify your income. In cases like this, consider requesting a lock lasting 90 days, 120 days, and even 150 days.

Student Council hears from student BOV member in first meeting of semester

Student Council heard a presentation from Phoebe Willis, a third-year Law and Darden student and student member of the Board of Visitors, in its first meeting of the new semester Tuesday.

Willis began the meeting by presenting updates from the Board on proposed changes to the University’s funding and financial aid programs. She also presented information on the Strategic Investment Fund and the search committee for University President Teresa Sullivan’s replacement.

“There are two big updates on SIF,” Willis explained.

First, the University is planning to set up an endowment of up to $300 million for student scholarships. The Board approved the Bicentennial Scholars Fund in December.

“They’re looking to try to create a permanent endowment for financial aid so that it is no longer reliant on tuition,” Willis said. “I think they’re expecting 10 to 15 years to fully fund the endowment, but this is the start of it.”

The second initiative — the Cornerstone Grant — will expand the University’s financial aid options for middle-income families.

Is this a scam?

My husband recieved a check in the mail from a financial management firm in Canada, along with a letter explaining he won a cruise and $33,000. He was supposed to cash the first check, for $2999.

don't give anyone your info, don't wire anyone money. as long as you don't do anything like that, you'll be fine. This does sound like one of those scans where they send you a check and then have you wire them money. So be careful of that.