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Greater Seacoast Community Bank

Journey Well with Newburyport Bank

Life is full of different adventures, from starting a family, buying a home, to embarking on a business dream. Whatever journey you’re on, it helps to have the support of Newburyport Bank, a mutual savings bank headquartered in Newburyport, Massachusetts. The community bank has 11 locations in Massachusetts and New Hampshire and over $1.2 billion in assets.

This strong, independent community partner is committed to helping you journey well. Since 1854, the local bank has served as a financial guide for the people and businesses of the Greater Seacoast, offering a complete range of personal and business products and services, as well as advanced technologies in online and mobile banking.

Newburyport Bank is actively involved in the betterment of the communities they serve, and are well positioned to help you navigate what’s ahead, support you during challenges, and help find solutions that serve you well today and in your future.

The bank has invested in state-of-the-art facilities to support the “Universal Banker Model,” which helps you connect to a banker quickly and all but eliminates traditional teller lines. Highly skilled bankers are prepared to handle your needs from simple to complex.

Committed to providing specialized services to meet the needs of its diverse customer base, Newburyport Bank offers Private Client Group, which assists high-net-worth individuals in their banking needs. In addition, the bank offers products and services designed for government entities, nonprofit organizations, veteran-owned businesses, medical professionals and more.

A big supporter of philanthropy, the bank founded the Newburyport Bank Charitable Foundation in 2003 to carry out its mission of helping neighbors and businesses navigate life’s journey well. Supported solely by Newburyport Bank, the Foundation provides grants to nonprofit organizations located in the greater Newburyport and New Hampshire Seacoast areas. Since the Foundation’s inception, the bank has contributed over $4 million and the Foundation has made awards of more than $3 million.

As a premier employer in Massachusetts and Southern New Hampshire Seacoast, the bank is dedicated to developing talented, committed and passionate employees who provide attentive service and give back to community through numerous volunteer efforts.

Deposits at Newburyport Bank are federally insured by the Federal Deposit Insurance Corporation (FDIC), with excess insurance provided by the Depositors Insurance Fund (DIF).

Newburyport Bank
By Bill Palm , Newburyport.Com Correspondent VP, Senior Residential Loan Officer NMLS# 33986, Direct Phone (978) 462-1500
I’ve been helping people buy homes in the greater Newburyport area for almost 25 years. It’s rewarding to use Newburyport Bank’s competitive loan programs and rates to find the perfect loan product for each client. My specialty is construction/renovation lending and finding creative solutions for my clients. I’m a graduate of Salem State University, where I studied finance. In my free time, I boat, ski, watch the Bruins and Patriots, and spend time with my family.

A Bridge Loan Makes the Path to Your New Home Easier Than You Think

Bridge Loan from Newburyport Bank

Every day, countless people in our community purchase homes without knowing the financing programs available, including the bridge loan. Some are buying their very first, while others are closing on their dream retirement property. When you embark on the journey of buying a new home, there are important things you should know so you can do it well.

First off, everyone has different preferences, from the furniture you buy to the location you choose. You want everything to be perfect. Another area that should fit you just right is the financing. (So many decisions to make!) Be sure you know all your financing options including how a bridge loan works.

Often a certain loan can help you land the home you want—when you want it—without any type of contingency in place. For instance, Newburyport Bank offers something called a bridge loan for home purchase (aka contingency buster). As a lender who serves this community (including many friends, families and neighbors), I’m always reminding my clients that the journey to your new home doesn’t need a contingency.

What is a bridge loan?

Our bridge loan program allows a potential home buyer to use the equity in their current home as down payment toward the new home, without it being sold first. Since Newburyport Bank is a community bank, we’re really focused on serving the needs of homeowners who live right here in our communities. And a bridge loan has proven to be extremely useful.

Bridge loan financing is a transitory loan (meaning it’s temporary) that eliminates the need to present an offer on a new home with a contingency to sell your current house. Think of it as a bridge gap loan or short-term loan. It creates so many possibilities for homeowners who want to buy a home without the worry of having to sell their current house first.

Since our bridge loan eliminates the need to present an offer with a contingency to sell a current home, you have a better chance of getting your offer accepted—and the appropriate financing to support your new adventure.

With bridge loan financing, you:

  • Can present an offer without a contingency to sell current home
  • Can use the equity in your current home as down payment toward your new home, without it first being sold
  • Can qualify for a higher purchase price on the new home since no payment on the current home is used in qualifying; only the proposed new home payment is used in qualifying
  • Can avoid maxing out a mortgage on a current home by taking out a HELOC to purchase a new home
  • Can get a free recalculation of the principal and interest payment on the new home mortgage if you choose to use the additional equity realized from the sale of the old home to lower the payment; this removes the need and expense of refinancing

Buying a new home is like going on an exciting adventure! You don’t want anything to get in the way of achieving your homeownership dreams. As a lender who loves to support and guide people on this exciting journey, I don’t want anything to get in the way of your dreams, either.

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Experienced Newburyport Divorce Attorney and Family Law Practice

Rebuild A Strong Stable Future

Working with an experienced Newburyport Divorce Attorney and Family Law Practice is the key to building a strong stable future for yourself and your family.  Divorce is one of the most significant emotional and financial decisions you will make in your lifetime.  You don’t need a new best friend.  You need a trusted and experienced adviser who can help you make informed decisions.

There are numerous decisions to consider with a divorce.   Many of these decisions will have long-term implications, so make sure you understand the ramifications of your decisions.  It is critical to work with a Newburyport Divorce Attorney and Family Law Practice with tremendous experience helping families navigate these stressful times.  Damian Turco of Turco Legal has seen every scenario imaginable, giving him the knowledge to advise his clients regarding the many complex issues associated with divorce. He is a good listener and asks critical questions to help his clients make decisions that will enable them to move their lives in a positive direction.

Every situation is unique and it is critical to have a strategy for addressing key issues.

  • How will you determine an appropriate and fair amount of child support
  • Duration of time child support should be paid and what it should cover
  • Health insurance and other uninsured health care costs
  • What other expenses can a court order paid
  • What if your child has scholastic or medical needs that exceed approved support
  • Tax dependency exemption
  • Alimony guidelines and timelines
  • Fair and reasonable property division

If your looking for a top Newburyport Divorce Attorney and Family Law Practice give a call to Turco Legal and let Damian and his team help give you peace of mind and guide you to a brighter future.

Turco Legal
By Damian Turco , Newburyport.Com Correspondent
Principal Attorney and Owner of Turco Legal, Attorney Turco is highly regarded as an expert in the areas of divorce and family law. He has represented hundreds of clients through divorces, modifications, contempt matters, and other family law matters from beginning to end. He sits on multiple committees for the Mass Bar Association, has been recognized by Massachusetts Lawyers Weekly as one of the state’s upcoming top 25 lawyers of 2015. Attorney Turco’s donates considerable time to help within the community. He serves on the board of LARC, a legal non-profit that helps thousands of lower income folks get desperately needed legal help. He also volunteers his time monthly delivering legal assistance at homeless shelters, day shelters, and soup kitchen’s in Boston, Lowell, Lawrence, and Salem.

Trends in Massachusetts Divorce Law: Equality and Structure

Turco Legal, Divorce Law Trends, Newburyport MA

Divorce law trends are moving in a direction of equality and structure. Divorce may seem like a modern issue.  That is, it sometimes seems like one of those problems with society that’s far worse now than it used to be.  Perhaps that’s because it’s the type of thing that nobody seems to discuss until it’s happening to them, especially not in a tight community like Newburyport.  Or maybe because it is consistently ranked as one of the greatest challenges one may face in his or her lifetime.  Who wants to talk about that?

Actually, despite it not being talked about much, it’s been an important and impactful part of society since shortly after the existence of marriage.  Its prevalence has fluctuated over the thousands of years of recorded history and the trend has largely followed the influence of religion on government and society generally.

While there is disparity around the world as to the popularity of divorce, it is clear that in Massachusetts, like most states, the law is trending from what we would consider traditional to a system of equality and structure.  Here’s how the main issues in divorce are treated in Massachusetts and are trending nationally today.

“Child custody” is still the terminology used in Massachusetts, but many states have done away with it, instead opting for more neutral terms such as “time sharing”, reflecting a growing national view of co-parenting that makes it a point to not characterize children as property or either parent as the “primary” one.  While most divorces with children still result in one parent having about a third of the time and the other having two thirds, there are more judgments granting equal time between parents than ever.  Family Law Judges in Massachusetts continue to have broad discretion in fashioning parenting schedules, so putting the relevant facts about ones case into evidence is just as critical as ever.

Child support is treated as a statutory calculation, considering the income of the parties, the parenting schedule, employment-related child care, and health insurance in nearly every state.  While there is not much movement nationally on this issue, every state periodically adjusts the guidelines figures, so the amount set for child support tends to go up over time.

Alimony is perhaps the most inconsistently treated issue across the country, recently having been overhauled in Massachusetts in 2011.  While some states have actually done away with permanent alimony altogether, Massachusetts has added more structure and limitation into the law.  Permanent alimony is now generally only available in Massachusetts when the marriage lasted over 20 years, with shorter term types of alimony are more tailored to the situation.  Generally, the longer you’ve been married, the longer the alimony is likely available, if available at all.

Property division is unique in Massachusetts, with judges having more discretion than in most other states.  That’s because in Massachusetts all property is part of the marital estate subject to division by the court including premarital property, gifts, and inheritances.  Many states carve these types of assets out of the marital estate, but in Massachusetts we give judge’s more authority to determine an equitable or fair result.

Massachusetts divorce law is quite sophisticated.  We live in a community of highly intelligent, hardworking, family-focused individuals who for many can’t avoid the realty of the breakdown of a marriage.  There will always be an element of loss associated with divorce and that comes with a grieving period.  But, when properly educated on divorce law and with the right counsel and support, more parties can and do move on to a better life.  So, if you’re facing divorce and living in our community, don’t be afraid of the issues.  While you may not want to discuss it over drinks at Adiamo’s or while the kids circle you at Gelato, there are plenty of Newburyport divorce lawyers, including me, who will help you through the process.

 

Best of Newburyport Home Mortgages

Personal Attention & Sound Advice from the Residential Mortgage Experts

Homeowners from the New England and Mid Atlantic region have put their trust in Residential Mortgage Services, Inc. (RMS) since 1991.  RMS is an independent, privately held mortgage bank and direct lender of residential mortgage products with a strong reputation for streamlining the home financing process and giving homeowners peace of mind.

RMS has been able to achieve exceptional customer satisfaction results due to the fact that they very closely manage the loan process ensuring that all of the many important steps have been accurately completed.  The loan process can be complex but the team at RMS has many years of experience handling the details and simplifying the mortgage experience for their customers.  RMS keeps the process in house:  underwriting, processing & direct funding, enabling themselves to control the many steps of mortgages, thus ensuring happy customers.

In addition to offering top quality customer care, RMS is a great choice due to their broad portfolio of home loan products including:  Conventional Loans, 1st Time Home Buyer Programs, Gov’t Loan Programs, Owner Occupied, 2nd Home & Investment Properties, State Housing Programs, Conforming & Jumbo Loans, Purchase and Refinance.  With this broad selection, RMS has a product for each of their customer’s individual needs.

If you prefer to focus on your new dream home or how you might utilize the savings from your refinanced loan, then we highly recommend a call to RMS.  Let the expert team at RMS do the heavy lifting.  With their exceptional customer care, broad product portfolio and strong industry experience, RMS is the Best of Newburyport Residential Mortgage Company.

Residential Mortgage Services
By Bob Pezzella NMLS# 112811 , Residential Mortgage Services, NMLS#1760 Equal Housing Opportunity
Why Bob Pezzella for your mortgage needs? Because my 26 years of lending experience coupled with the lending powerhouse that is Residential Mortgage Services, Inc. (RMS) we will streamline your mortgage and home buying process. After the crazy rate fluctuations of the late 1990s through the tumultuous 2000’s first decade and beyond I have navigated the mortgage process every step of the way for my clients. I pride myself on a thorough, consultative approach to understanding customer needs and goals and match your criteria with the parameters of available down payment monies and income level. Whether it makes sense to make a smaller or larger down payment, help raise a credit score, or pay off / refinance current debt, I will find the mortgage solution that is right for you. I will help you evaluate the array of mortgage options from the traditional 30-year fixed rate, through the various state housing programs to the government programs FHA, VA, USDA and together Residential Mortgage Services, Inc. (RMS) and I will guide you home! There is no affiliation between Residential Mortgage Services and any other company.

Monitor Your Credit Score & Improve Your Mortgage Rate

credit score, Residential Mortgage Services, Newburyport, MA

I left off last time talking about how important it is to “be prepared” with respect to having your credit in order prior to applying for home financing.  Your credit score is so critical to your qualifying loan options and corresponding Annual Percentage Rate (APR) I feel compelled to briefly revisit the topic given the time of the year and recent political events.

We have just come through the holiday shopping season and many of us took advantage of large discounts at the cash register simply for agreeing to open a new store credit card.  Although the savings was great, these transactions inevitably lower your credit score:

  • The credit inquiry itself lowers your score.
  • The amount borrowed compared to the limit set by the store can further lower your score.
  • The number one zinger is if the store got your billing address incorrect when the cashier was keying your information in to the computer. Zip code or street number off by a digit and your bill goes to the wrong address, you potentially forget about the new account and miss a payment.

Please, exercise extreme due diligence in tracking down any of these new accounts and make sure these new bills get paid in a timely manner!

Recent national events are costing us more money too. Regardless of your political affiliation, national politics has affected the cost of borrowing money. The result of the presidential election  has  strengthened a bull market, trading off the idea that lower personal and corporate income taxes will stimulate the economy, coupled with the belief that deregulation has been constraining growth. The Dow Jones Industrial Average (DOW)  is flirting daily with a record 20,000-point level and the Federal Reserve Board (FED) raised its benchmark interest rate recently for just the second time since the financial crisis of 2008. These factors have helped inch up home interest rates costing new mortgage customers more money per month. Although there is little we can do about these national events, you can protect and monitor your credit scores ensuring that you qualify for the best interest rate available.  Consider this: a half- point difference in APR on a 30-year fixed rate $300,000.00 mortgage can cost $88.00/month more in your payment, $1,056.00/year and $31,680.00 more if you were to stay in the mortgage for the life of the loan.

Friends, my message here is very simple. Although credit is not the only qualifying lending criteria, good credit helps you qualify for the best rates and programs. If you need a hand assessing your credit and your qualifying criteria, I would be more than happy to assist you!

Financial Planning Means Peace of Mind

Guidance On Investments & Budgeting

Is financial planning something you do on your own, or do you have someone you can trust to manage your investments and provide financial guidance?  Do you have a plan, and if so, do you adhere to it?  Do you know if your investments are optimized?

Most people agree that they should have an investment strategy and that it should be reviewed and updated periodically.  Yet many people do not.  It is important to prioritize financial planning and even more important to put that responsibility in the hands of a trusted financial adviser.

Blanchette Financial Group is a company you can trust, whether you have a simple statement question or you need guidance on more complex financial matter.  Steve can assist with managing investments, and planning for the future whether that be a 529 plan or assessing long-term care options for an aging parent.  Take financial planning off of the to-do-list and schedule a meeting to review your specific needs.

 

___________________________________________________________

A Message from our VIP Expert, Blanchette Financial Group 978.462.9500

Securities and advisory services offered through Commonwealth Financial Network, Member www.FINRA.org/www.SIPC.org, a Registered Investment Adviser.

This communication is strictly intended for individuals residing in the states of CA, CO, CT, FL, GA, IN, MA, MD, ME, MT, NC, NH, NJ, NY, PA, SC, SD, TX, VA, VT.

No offers may be made or accepted from any resident outside these states due to various state regulations and registration requirements regarding investment products and services.

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Blanchette Financial Group, Newburyport MA

Contact

Blanchette Financial Group
21 Pleasant Street • Suite 228
Newburyport, MA 01950-2623
978.462.9500
Steve@BlanchetteFG.com

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Accounting & Taxes for Personal & Business

Sound Tax Strategy Means Financial Peace of Mind

Strategy for accounting & taxes is critical.  Is your accountant a valued partner you can trust to guide you with key tax decisions?  All CPA’s, process returns but great CPA’s can enlighten you on various tax options and the advantages and disadvantages associated with your decisions.  Michael Capo, CPA, P.C and his team have extensive experience with both personal and business accounting and taxes.

On the personal side there are many decisions we can make that will provide tax benefit.  Are you utilizing all of the deductions available to you?  Are you tracking personal expenses with a program such as QuickBooks?  In addition to providing valuable budgeting information, these programs can make tax preparation far more simplistic enabling you to quickly pull a report to calculate deductible expenses such as home office, daycare, charitable contributions and so much more.  Do you need help learning to utilize these sorts of tools?  The Michael Capo team has extensive experience and can provide training assistance.

Do you own a business?  Is your business incorporated?  Are you aware of the tax ramifications of an S Corp versus and LLC?  Do you need assistance managing payroll taxes or preparing estimates for your quarterly return?  Michael Capo and team have extensive experience working with businesses and helping to ensure that they are using the most productive processes to manage invoicing and payroll, 401K decisions etc.  It is critical to have sound tax processes in place from the start in order for your business to scale efficiently.

Whether your tax needs are personal, business or both we highly recommend you consider the Best of Newburyport tax Experts at Michael Capo, CPA, PC.

Michael Capo, CPA, P.C.
By Michael Capo , Newburyport.Com Correspondent
President of Michael Capo CPA, P.C. Mike has over 25 years of accounting and finance experience in corporate, individual, independent and government environments. Mike's extensive knowledge is invaluable to his clients and allows him to provide a consultative approach personalized to each of his business and personal tax clients.

Avoid Tax Scams With Awareness Of IRS Process

Tax Scams, Newburyport MA, Michael Capo, CPA

Protect yourself, your family, and close friends against common tax scams.  Take the time to understand key facts that can help you know if you are being legitimately contacted by the IRS, or if you are being approached as part of a common tax scam.  Please read the links below and if you have any questions, feel to free to call the office of Michael Capo to discuss at 978-499-4300.

The IRS will not call you as initial contact for a tax matter.  You will always receive a letter from the IRS if you have a tax issue.  This is a confirmed tax scam.  Do not give them banking or credit card information over the phone.

https://www.irs.gov/uac/newsroom/irs-repeats-warning-about-phone-scams

CP2000 email / Affordable Care Act
The IRS will not email you any tax related notices.  The CP2000 notice can be a valid IRS document however it will come via USPS not email. If you believe that you have an issue with the Affordable Care Act, call the IRS directly at 800-829-1040.

http://www.accountingtoday.com/news/tax-practice/irs-warns-about-fake-tax-notice-scam-79334-1.html

We proactively share information with clients regarding many important tax related topics.  Highlighting tax scams is just one example.  We strive to provide awareness of tax related issues as well as impacts/ramifications of key tax related decisions.  We work to ensure that our customers are armed with information necessary to make informed decisions related to their specific circumstances.

We pride ourselves on  providing top notch accounting services for both individuals and businesses and we offer a broad scope of services.  We assist many clients with a basic personal returns, and for other clients we are managing important tax related elements of their business such as invoicing, payroll taxes, preparation of 1099’s as well as training on accounting tools such as QuickBooks.  Call to schedule an appointment as we welcome the opportunity to assist you with your tax and accounting needs.

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