Daily News New York City. March 29, 2020

28 Sunday,March 29, 2020 DAILY NEWSNYDailyNews.com

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Deposit&LoanGuide

Savings Update

Want to reinance if rates drop again? Here’show to be ready

When mortgage rates dropped to historic lows early

this month, reinancing applications shot through the

roof. One source compared the mortgage lender in-

dustry during that week as similar to Home Depot be-

foreacoming hurricane.

Since then, mortgage rates have been yo-yoing given

the uncertainty of inancial markets during the corona-

virus pandemic, as well as the Fed’stwo emergency

rate drops. But while current rates may not be enticing,

recent rate movements have been exceptionally erratic

and in these unprecedented times, it’sentirely possible

they will drop to lows again.

That’swhy it’sgoodtoprepare now (while lenders are

catching their breath) if you think you’ll want to rei-

nance if rates drop again. Having your inancial situa-

tion in order will be necessary if you want your applica-

tion approved to lockanewlowrate.

The irst step is to calculate whether you have enough

equity in your home to allow for reinancing.You’ll

only be able to reinance up to 80% of your home’s

appraised value, so if your current mortgage plus any

home equity debt exceeds 80%, you’ll need to wait un-

til you pay down more of those balances.

Second, takealook at your other debts. Do you have

credit card balances or personal loans you can pay off

before applying forareinance? The ratio of your debt

to your income is one of the primary drivers in lender

decisions.

Lastly,assess your credit. If your score is below 760,

you may want to bolster it before applying to reinance,

since the higher your score, the more likely you’ll be

approved and the better rate you’ll receive. Paying off

debt is one way to improve your score, but also check

your credit report for errors and avoid applying for any

new credit until after you reinance.

By Sabrina Karl

Visitapplebank.com for our current deposit rates.

Call us for more details about our products and services.

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I

n this a time of great challenge, most

New Yorkers are, it is hoped, re-

sponding to the COVID-19 crisis by

securing personal safety for them-

selves and their families. But others

are taking it a few steps further — by

reaching out to help others in need.

Despite “racial distancing” by main-

stream media, which has not profiled

many people of color volunteering or

suffering during this health crisis, I’m

profiling Caribbean-rooted New York-

ers — Norine Smith, Annan Boodram

and Jamie Alleyne — who have quickly

stepped up to aid the city and all its

communities:

●●Smith (bottom left), a veteran stylist

and designer, has created protective

masks, which she is donating. Her fa-

ther was born in the U.S. Virgin Islands

and her mother hailed from St. Kitts.

●●Guyana-born Boodram (bottom cen-

ter) — a respected editor and journalist

—is using his The Caribbean Voice

(TCV) publication to provide solace and

advice to his readers and others.

●●Trinidad-born Alleyne ( bottom

right) — aka internet blog personality

Jay Blessed — is soothing worried

minds and addressing coronavirus-re-

lated stresses through a Facebook Live

session that premiered last week, and is

still available online.

Smith — a professional still life, cos-

tume and wardrobe stylist for various

companies — explained that her mask

production began last week in response

to the coronavirus pandemic and a call

from Gov. Cuomo for people to make

masks “and just help.”

“I’m making protective masks for

children, teenagers, women and men —

Ihave four sizes,” said the married

mother of two adult children.

From bright colors to camouflage-

designed, Smith’s masks come with soft

elastic straps to fit over the ears and

fasten the masks to the face.

“I’ve been sewing since I was 10. I

accumulated a lot of fabric, said Smith

who is making 100% cotton masks and

others made of neoprene fabric. All are

reinforced with linings, and she’s plan-

ning to add 3M filters to future batches

of masks.

Smith has donated masks to mem-

bers of the large security force and food

pantry volunteers at her church — Pas-

tor A.R. Bernard’s popular Christian

Cultural Cen-

te r

me g a c h u r c h

in Brooklyn.

Supplies are

limited; Smith

can only make

ab o u t 2 0

masks a day.

But Smith can

be contacted

by email at [email protected].

Long concerned with mental health

issues in the Caribbean communities

here and in the region, Boodram fo-

cused on coping with the many stresses

exacerbated by the COVID-19 crisis

through his publication’s edition of

“TCV in the Media” on March 26.

Re a d t h e c o l u m n a t

caribvoice.org/tcv-in-the-media.html

The column also details many per-

sonal protective measures.

The column’s quick tips include:

●●“Long periods away from news web-

sites.”

●● “For social media, turn off noti-

fications, set message boxes to ignore,

hide, mute or unfollowing accounts and

posts.”

●●“For news, stick to trusted sources

such as government and reputable

health websites like the U.S.-based Cen-

ter for Disease Control (CDC), World

Health Organization (WHO and Pan

Am e r i c a n H e a l t h O r g a n i z a t i o n

(PAHO). Share only reliable informa-

tion.”

The Caribbean Voice also offers free

counseling. Contact via caribvoice-

@a o l .c o m; t h e c a r i b b e a n vo i c e i n c -

@gmail.com, or (646) 461-0574 on the

WhatsApp app.

Alleyne, the “In My Head Live Expe-

rience” informational podcaster, who

was a popular award-winning enter-

tainment blogger, took to Facebook Fri-

day to soothe some minds.

Her 39-minute “How are you really

feeling?” Facebook Live session pro-

vided encouragement, sharing and ad-

vice in these mentally and economically

trying coronavirus times.

There’s something for everyone —

health professionals, parents at home

with children and more. The session is

available on her “Jamie Alleyne” Face-

book page or search Facebook for “How

are you really feeling?”

She has been a consistent advocate

for immigrant rights, mental health is-

sues and the Caribbean’s LGBT com-

munity through her podcasts.

Above and beyond

in time of COVID-19

JARED

McCALLISTER

CARIBBEAT

CORONAVIRUS