Sturgis Bancorp Reports Earnings for Q1 2010
Sturgis Bancorp, Inc. posted a 78.1% earnings decrease for the first quarter of 2010, compared to 2009, Eric L. Eishen, President and CEO, announced today. Â The decrease was primarily due to the $975,000 lower gains on sale of securities.

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I have been researching about investing vs. paying down mortgage. I just can’t seem to find what I am looking for so I have decided to see what people’s opinions are.
I have a lump sum of $8,000 to work with. Do I take the whole lump sum and pay down my mortgage? I currently have a $184,000 mortgage at 4.88% rate and pay $974/month (interest and principal) for the next 30 years to pay it off. Or do I take the money and invest in a Roth IRA? I am in my mid 30’s with 2 young children. I am right now in the 15% tax bracket. I just want to do whichever one nets me the most money in the end. (end being 30 years?) Thanks for your help and opinions!

I own 3 investment properties that are rented out. I am losing a total of $5300/month after calculating mortgage/taxes vs. rental income. My goal is that in 15 years calculating rental increases I might be able to break even and then the mortgages will pay themselves down for the balance of their terms (30 and 40 year term mortgaes plus 3 interest only line of credits) at which time I will own $1.5 mil worth of properties and at some point start to pocket profit from the rent collected.

Option two would be to put away the $5300/month, literally put away without investment. I don’t want to risk losing it, have lost too much in the past, or paying taxes on dividends and all that, so that would be about $60,000/year in cash saved (from my employment which if I’m lucky I’ll have for another 10 years) so let’s say that would be a savings of $600,000.

Which route is best? It’s just hard right now forking over the loss to make ends meet and one of the properties the mortgage is way higher than the sales value so I am forced to keep that one. Not sure if I should get out of the others if the market will get worse, or to hold on if this is the bottom.

I know this is a lot of info and there’s a lot more involved so any help at all, any opinions I will really appreciate. This is in Southern Calif. if that makes any dif. Thanks for reading!

Unity Bancorp Reports First Quarter Earnings
Unity Bancorp, Inc. , parent company of Unity Bank, reported net income available to common shareholders of $374 thousand or $0.05 per diluted share for the quarter ended March 31, 2010, compared to net income available to common shareholders of $352 thousand or $0.05 per diluted share for the first quarter of 2009.

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I’m a construction worker who bought and is rehabbing a building in my town. The building will be sweet when I’m done but I don’t fully understand the shelter game, as in how will it effect my personal income(LLC)? The main question is how much will I make annually vs selling it outright for a profit.

Conservative net income after debt service=$15,000
Purchase price=$80,000
Capital improvements=$30,000
+Grant program(I have reciepts, they reimbursed me)=$30,000
Depreciation=?
Mortgage interest=$8,400 1st full year
Taxes=$6,800(accounted for taxes before computing net income)
Could sell easily for $170,000 for profit of $60,000 before taxes.
Would probably sit on it and try and get $200,000 for a profit of $90,000 before taxes.

I borrowed $130,000. $80 to buy, $30 to rehab, $20 in oh no money.

How much loss can I write off on my presonal taxes ie how big a loss can I show? House hold income is about $50,000.
Bear in mind that I have about $20,000 in other Ded.s

Okay, I have two options to save me about the same money each month. (400). Trust me, I don’t want to do either……..but I have to. I could redo my first mortgage and go from 6.09-6.37 interest rate – fixed for thirty years – no points. Or I could redo my second to an interest only loan. First is a fixed 6.9 now and second is a fixed 7.14 – first is for 30 years and second is for 15 years. Even with no points, looking at 3500 fees and 400 appraisal. I don’t know what to do…….Any tips??
As I said, I want to be able to save the approximately 400 a month that I will be saving as far as what I have outgoing. The rate will not be lower, it is actually slightly higher from 609-637. I do plan to be in this home for the rest of my life – I am 35

I’m trying to compare my existing conventional mortgage (27 years remain on a 30 years loan at 5.85%) to a Primerica SMART loan (23 years at 5.93%).

I’m looking to refinance to eliminate a 2nd mortgage (15 year + balloon 2nd at 7.5%). And I’m wondering how to best compare a conventional to a SMART loan.

Thanks!