YOUR FICO SCORE CAN CHANGE EVERY DAY
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Neal Paskvan is a full time Realtor specializing in Downers grove, Darien,Woodridge, Westmont and Du page county Real Estate
This fall, make fireplace safety your number one concern. When temperatures dip we turn to our fireplaces to create heat as well as a cozy atmosphere for our home. But an increase in fireplace usage means that every homeowner should be aware of the hazards of unplanned fires and understand how to create a
sadly, 14,000 house fires each year start from fireplaces. Nearly 6,000 injuries occur from these fires and a whopping 65% of these injuries are inflicted upon children under the age of 5. Accidental fires also cause $893,000,000 worth of property damage each year. Following these safety tips can not only save lives, it can help save your home from damage.from our friend
If your home sits by the ocean, atop a fire-prone canyon or even in a not-so-nice neighborhood, you probably know you're paying more for homeowners insurance, but something even closer to home may be driving your monthly payments higher: your personal credit score.Lower credit scores are widely known to impact mortgage availability and rates, but what most home buyers don't know is that they also increase the cost of homeowners insurance.
The home equity lines of credit, known as Helocs, were originated before the housing market collapse when home values were still climbing. According to TransUnion, of the $474 billion in Heloc balances held by nearly 16 million consumers as of the end of 2013, nearly half of the loans were originated from 2005 to 2007, the peak year.
Many of these lines have a 10-year draw period, when borrowers may tap their credit and only make interest payments on the balance. As the draw periods come to an end starting next year, borrowers will have to begin paying both interest and principal on the outstanding balances. The TransUnion study estimates that more than half of the loans have balances of $100,000 or more.
In late July, the San Francisco-based bank lowered the minimum credit score on these fixed-rate jumbo mortgages to 700 from 720, Goyda said. Credit scores range from 300 to 850, and levels below"The purchase market is softer than we thought that it would be."
640 are often considered subprime.
Homebuyers ask for pictures and they want lots of them. They want great photographs that they can look at on their computer screens, tablets or smartphones.
The way buyers look for homes has really changed now that everything is on the Internet. Marketing homes on the Internet is old news for real estate agents and for homebuyers, but home sellers have not caught on.
y Tim Carter, Tribune Content Agency Ask The Builder 4:30 a.m. CDT, July 18, 2014 Normally in my column I answer questions from people I've never met, but the inspiration for this column came at the dinner table recently. My oldest daughter and her husband are moving to California. We had a belated birthday celebration for both of them, and the gifts they requested all centered around survival and bug-out items. My daughter had asked me to make a list of emergency tools and supplies in case a big earthquake struck. I've decided to share the list with you. Millions of people here in the USA are susceptible to a large-scale natural disaster, and if one happens where you live, you may not receive timely help from first responders. RELATED Old Lumber vs. new: Preventing warping, twisting and rot How to cut a common roof rafter Metal pegboard is the cure for storage blues Here's why. Less than two years ago I completed training that spanned eight weeks. I'm now a member of my local CERT team -- Community Emergency Response Team. The first week of class was taught by our local fire chief, and he talked about the community pre-planning list of assets he and his department maintain. This list is ordered from most-valuable to least-valuable community assets. In the event of a large disaster, the fire department will protect and defend the most valuable assets first so that when the disaster is over, these assets will be there for the community survivors. Guess what's last on the list? Your house and mine. To understand why, stop and think about the number of first responders in your community. For every thousand citizens, you might have one first responder. How many fire trucks are there in your community? Ten, 20, even 100? How many homes are there in comparison? It's not that the first responders won't want to help you in the event of a large disaster; it's just they might not show up for days or weeks. You need to realize you'll be on your own -- as will all your neighbors. It's time for you to start thinking like my daughter and son-in-law. The tools I'd want in a storage box would all be hand tools. Forget about power tools, as you may not have electricity for days or weeks. All I have to do is go into my garage and start to pull tools down off my metal pegboard or my shelves. Here's the short list of what I'd grab: --Plumb bob --Two or more tape measures --2 and 4-foot levels --Compact hand saw --Framing square --Razor knife and spare blades --Hammers (20- and
40-ounce) --Pry bars and crow bar --Carpenter's pencils --Mason's string --Hatchet and axe --Sharpening files --Curved pruning saw --Fire piston As for supplies, I'd have the following stockpiled: --Various sizes of double-laminated waterproof tarps --Two rolls of strong duct tape --200 feet of 1/4-inch rope --20 pounds of 16 d sinker nails --Three rolls of 30-pound felt paper --Dryer lint and other dry tinder --5 pounds of 1 1/4 inch roofing nails I could go on about other tools and supplies I'd love to have, but soon I'd need a warehouse or small building to store them. As we discussed how close my daughter will be living to the infamous San Andreas Fault, I mentioned that it would be a good idea to store all these things outdoors. When the big one comes, the last place you want supplies are inside your house or garage. These valuable assets could be buried under
While inventory levels remain below historic norms, it will remain a seller’s market. This being the case, if you are considering selling your home, now may be the time to list it for sale.
|Neal Paskvan Baird And Warner|
Buying your spouse out of a property can be dicey.
By Scott Sheldon Stuck paying for a house that's no longer yours? Buying your spouse out of a property can be dicey, especially if both parties disagree with one another on the debt and equity objectives. So here are some ways to separate and pay off an ex-spouse when getting a mortgage. Net Yet Divorced or Separated?: First, if you and your ex are still legally married, but are not yet legally separated or officially divorced, this can pose problems related to the scope of the desired split when separating property and liens (loans). If you're buying a home for yourself, your spouse would have to sign a quit claim deed releasing their interest in the property you are buying since you are still legally joined with that person. The key is that the spouse must consent to releasing their interest in the transaction. Divorced & Still Tied to Another Property: Let's say you're trying to purchase a home, you are legally divorced and the previous property has been awarded to your ex-spouse in the divorce decree. However, for whatever reason your ex-spouse is not able to qualify for a new mortgage to refinance you off of it. Your credit report shows a mortgage that your name is tied to on a property you no longer own nor have responsibility for. In the eyes of the mortgage lender, because the liability (loan) is tied to the property and has not been paid off with your name associated with it, the liability is still considered to be joint.
The problem here is that your credit history and credit score are directly affected by your ex-spouse's sole ability to make timely mortgage payments on the joint credit account. The only way to remove the responsibility from you, beyond the divorce decree, is for the other party to sell the house or refinance the mortgage, and taking your name off the loan, thus omitting the
liability from your debt-to-income ratio on your new purchase. Refinancing to Buy Out the Ex-Spouse: Say both you and your spouse own a home together. Without the divorce degree and without a separation agreement, both parties collectively agree that one spouse will stay in the pro
http://www.today.com/home/kitchen-remodel-where-spend-how-save-2D79749253 While no renovation adds as much equity to your home or is likely to be more enjoyed, kitchen remodel costs can get out of control quickly. When it comes to remodeling your kitchen, check out where experts suggest splurging — and where you can cut some corners.