915 N Chestnut Drive, Tonganoxie
hometown
LAWRENCE Your area real estate
B
4 Bedrooms, 3 Baths, and a 3 Car Garage!!! Beautiful home in immaculate condition. Open plan with vaulted ceilings and fireplace in living room. Hardwood floors in kitchen/dining. Large master suite with walk in closet & whirlpool tub. Main floor laundry. Finished daylight basement! 3 car garage with lots of extra storage space. A must see! MLS #1913477
SEE INSIDE FOR GREAT REAL ESTATE BUYS! $192,500
resource
hometownlawrence
.com
LIZ WESLANDER
score and the terms the loan, initiation of the borrower. but can range from around In 0.3 other words, with a percent to 1.15 percent of little bit Although conventional the original loan amount per year. of leg work, it is possible to wisdom is that homebuyers remove PMI from a mortgage should make a down payment Under the Homeowner’s more quickly than the of at least 20 percent when Protection Act, a mortgage Homeowner Protection Act purchasing a home, not all lender is legally required dictates. homebuyers have that kind of to cancel a borrower’s PMI The first step in determini cash available. coverage once they have ng if cancelling your PMI is a paid down their mortgage The good news is that most to possibility is to calculate the 78 percent of the principal lenders are willing to give loan to value ratio (LTV) of (provided that the borrower loans to buyers with down your home. Dividing the value is up-to-date on his or her payments as low as 5 percent. of your home by the amount payments and does not have However, because a loan with an of your loan does this. For FHA loan.) a small down payment carries example, if a borrower puts What many don’t realize more risk for lenders, buyers a 10 percent down payment is that PMI is no longer with down payments lower ($15,000) on a $150,000 required once a borrower than 20 percent are required has house, the amount of his paid down the mortgage to or to pay personal mortgage her loan is $135,000, and their 80 percent of the principle insurance (PMI) on their LTV is 90 percent (PMI is of the loan. However, the loans. The cost of PMI varies required). Once that borrower cancellation of PMI at this based on a buyer’s credit pays $15,000 in mortgage point is only made at the payments, the amount of HOMETOWN LAWRENCE
the loan drops to $120,000, time, this should be a pretty which when divided by this approach is that if the straight forward process. $150,000, gives an LTV of appraisal comes in lower than 80 percent (PMI is no longer Another, less sure-fire way hoped, the home owner has required). The easiest way to get PMI cancelled more paid for an appraisal, which for a borrower to reach this quickly is to request that costs $400 in Lawrence, for no point is to simply pay his a servicer cancel mortgage reason. or her mortgage as planned. insurance based on the Most homeowners who Making extra payments on the current value of a home. This request the cancellation of mortgage will speed up the requires homeowners to order PMI based on the current process. an appraisal of the home at value of their home do so their own expense, and most because they have made It is also important to lenders require borrowers major improvements to the note that the LTV should be to wait a certain period of house. Changes in the market calculated using the value time after the loan is issued may also cause a significan of the house at the time of t to make this request. The increase in value, but a county purchase. Once a borrower required waiting appraisal period has reached this magic 80 varies should greatly from lender to lender, used as a startingonly be percent, they can request but one local example, Capital determining the point when in writing that the PMI be value of a Federal Savings in Lawrence, home. removed from their loan. requires homeowners to have Every lender is different, but Liz Weslander covers made at least 12 on-time assuming that a borrower real estate for Hometown has payments before making made all their payments on this Lawrence. Contact her at request. The main risk in lizweslander@hotmail.com
$300,000
hometownlawrence.com
Advertising supplement
JANUARY 30, 2015
Understanding Personal Mo rtgage Insurance
2201 Country Drive, Eudora
Awesome 4 bedroom/3 bath/3 car side entry Fritzel-built ranch home in Eudora’s premier subdivision - Meadowlark! Kitchen features custom cabinets, center island, lots of counter-top space. Hearth room off kitchen with Master Suite with double sinks, jetted tub, large eat-in area. Formal dining. Awesome shower and walk-in closet. 2 bedrooms and a full bath in the basement PLUS 32x16 bonus theater room or an additional family area.You choose!room which could be 4th bedroom, Sprinkler and security systems too! Stop by and check it out. MLS #134703
L A W R E NC E
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Showcase Homes Offered by: Suzie Quisenberry 785.840.6505 www.suzieq. reecenichols.com
OPEN SATURDAY 11:00 AM - 1:00 PM
Offered by: Kathy Brecheisen 785.760.1075
Kathy@ReeceNichols.com
75 cents
915 N Chestnut Drive,
OPEN SUNDAY 1:00 - 3:00 PM
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FRIDAY • JANUARY 30 • 2015
Tonganoxie
4 Bedrooms, 3 Baths, and a 3 Car condition. Open plan with vaulted Garage!!! Beautiful home in immaculate ceilings and fireplace in living Hardwood floors in kitchen/d room. ining. whirlpool tub. Main floor laundry. Large master suite with walk in closet & with lots of extra storage space. Finished daylight basement! 3 car garage A must see! MLS #1913477
$192,500
KU unveils ‘Heritage Classic’ hoops uniform
2201 Country Drive, Eud
ora
Awesome 4 bedroom/3 bath/3 car side entry Fritzel-built ranch home subdivision - Meadowlark! Kitchen in features custom cabinets, centerEudora’s premier counter-top space. Hearth room island, lots of Master Suite with double sinks, off kitchen with eat-in area. Formal dining. Awesome and a full bath in the basement jetted tub, large shower and walk-in closet. 2 bedrooms PLUS 32x16 bonus room which could be 4th theater room or an additional family bedroom, area.You choose! Sprinkler Stop by and check it out. MLS #134703 and security systems too!
Staff Reports
T
$300,000
he Kansas University athletic department on Thursday unveiled a new Adidas uniform that the men’s basketball team will wear for its home game against Texas on Feb. 28. Dubbed the “Heritage
Classic,” it’s made of modern material but will feature logos and lettering inspired by KU’s 1988 national championship uniforms. A special callout on the jersey’s back collar, “NCAA CHAMPS 1988,” further commemorates the Jayhawks’ rich basketball tradition.
The uniform is part of the Jayhawks’ season-long celebration of the 60th anniversary of Allen Fieldhouse. A limited number of replica jerseys will be available immediately to fans at KUStore in Allen Fieldhouse, and at KUStore.com within the week.
On Kansas’ birthday, ‘crazy eyes’ go here
Images courtesy of Adidas
LAWRENCE SCHOOLS
Senate bill could cut $1.3 million in funds Lawmakers’ grappling with budget might effectively negate recent mail ballot decision by voters here By Peter Hancock Twitter: @LJWpqhancock
Richard Gwin/Journal-World Photos
AFTER SCHOOL THURSDAY, STUDENTS Alia Sartin, 11, left, and Lily Pickard, 11, eat some treats next to a giant postcard of John Brown at the Lawrence Public Library, 707 Vermont St. Library staffer Liza MacKinnon created the image — complete with cutout for patrons to strike their best revolutionary pose — in honor of Kansas Day. Riley Gent, 14, of Lawrence, took the advice of the note on the back of the postcard, “Crazy eyes, look this way,” for his John Brown impression.
Please see BILL, page 2A
Citizens offer feedback on police facility plan By Conrad Swanson Twitter: @ConradSwanson
Lawrence city commissioners heard public comments once again on why a $28 million police headquarters proposal was shot down by voters in November. About 45 people attended the Thursday night listening session at the Lawrence Arts Center, 940 New Hampshire St., several addressing the broader issue of priorities and timing of recent citizenfunded projects throughout the city. “In the first meeting, we heard a lot about some of the
things we’ve done wrong, and it was good to have the public be able to talk, pointedly, to elected officials,” Mayor Mike Amyx told the crowd. “Maybe it had to do with the sales tax, maybe it had to do with the size of the project, maybe it had to do with the lot we had chosen.” Lawrence resident Scott Henderson said he voted in favor of the police headquarters but wasn’t surprised when the ballot request for a 0.2 percentage point sales tax increase to fund the project failed 52 percent to 48 percent. Not only is money tight around town, Henderson said,
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Today’s forecast, page 8A
“
I voted out of anger.” — Rich Crank, Lawrence resident but the timing of the vote may have had a lot to do with the outcome. “We’ve got the rec center and the library, and a lot of people are out of money,” he said, referring to the new Lawrence Public Library facility on Vermont Street and the recreation center at Rock Chalk Park. “People are hurting every time they raise taxes. And if the station had been
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Conference center update coming soon By Chad Lawhorn Twitter: @clawhorn_ljw
voted on before those two, it would have won.” Addressing the timing of the votes, Commissioner Bob Schumm assured those in attendance that the order in which the projects came to a vote was not a deliberate decision made by the city. “The library was citizendriven and the people of Lawrence certified the new library, you can’t argue with that,” Schumm said. “And we’ve had countless numbers of people talk to us on how much they needed a rec center. We’re not trying to pick and choose
Get ready to talk about whether Lawrence ought to get into the conference center business. A long-delayed report studying the feasibility of whether Lawrence could support a new conference center is scheduled to be released in mid-February, City Manager David Corliss has confirmed. Then it will be up to city commissioners to decide CITY COMMISSION what comes next. “Once we get to that stage, we need to talk about the level of priority commissioners have for that type of project,” Corliss said.
Please see POLICE, page 2A
Please see CENTER, page 2A
INSIDE
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Topeka — Public schools would have to wait before getting some of the increased aid they were promised last year, and some of that increased aid could actually be cut unLEGISLATURE der bills being considered in the Kansas Legislature. In fact, the Lawrence school district
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Quick-thinker saves home A Baldwin City school bus driver acted fast Thursday when she saw flames coming from a doghouse on the front porch of a rural home. Page 3A
Vol.157/No.30 24 pages