Fred's Mortgage Blog

I’m sure you’ve been to the neighborhood Home Depot and seen the infinite collection of paint choices. Selecting the right kind of paint can seem daunting and it is important to remember all paint is not created equal when it comes to being eco-friendly.

Problems with Traditional Paint

According to the EPA, the concentration of pollutants inside your home is several times that of the great outdoors. The reason is quite simple, lack of proper ventilation. Obviously, the most dangerous time for you, your children and your pets is during the painting process and the few weeks after the painting has been applied. Traditional paints contain airborne chemicals known as VOC’s. VOC’s can headaches, fatigue, dizziness and possibly even cancer or heart disease. These concentrations are strongest when paint is fresh, but can linger around your house for years.

Eco-Friendly Paint Solutions

1. Low VOC Paints — Due to environmental regulations and increasing consumer demand, paint companies have developed new house paints that emit little or no VOCs.  This is achieved by using water as a base instead of traditional, petroleum-based oil solvents. Low VOC paint is now widely available at most hardware stores with prices comparable to more traditional paint.
2. Natural Paints — A natural paint does not contain heavy metal or any VOCs.  Natural paints and wood finishes are often composed of natural plant dyes, oils, and waxes. There are various forms of natural paints on the market, including clay and milk based paints. These natural paints still have a ways to go as they tend to be more expensive and less durable than traditional paint.
3. Lime Wash — A reasonably inexpensive green alternative to traditional paint is lime wash.  Limestone, a calcium-based mineral, is combined with water to form a simple, natural paint that is the basis of all whitewashes.  Lime wash can be used indoors or outdoors and forms a unique, glowing finish that comes in a variety of colors.

As you start to tackle your next renvoation project consider all your paint options and how they fit into your plan. Eco-friendly paint is just one step in making your renovation green. I encourage you to read all of the “focus on green building materials” posts before you get started. Also visit our FHA 203K Renovation site to learn how to finance your next green renovation with 203K Financing or a FHA Energy Efficient Mortgage

Focus on Green Building Materials — Terrazzo

Focus on Green Building Materials — Bamboo

Focus on Green Building Materials — Reclaimed Exotic Hardwood

View my original article at:

http://www.gogreenwithfha.com/2008/12/focus-on-green-building-materials-eco-friendly-paint/

Ah mold.  It is such a hot button.  I know just by putting the word MOLD into my title this post will get attention.

People are interested, but I am still surprised at the lack of knowledge or the inaccuracy of knowledge (even you agents, who need to know the basics).

This is not intended to be a general knowledge post. (go here for that)  This is a heads up for everyone on the issues concerning a currently accepted means of exhausting bathroom vents.  Currently it is acceptable to duct bathroom vents to an attic vent.  This is usually a good thing and definitely better than venting directly into the attic. 

Recently I came across a very new home (only four years old) that had some mold growth in the attic.  Not really a huge amount, however mold spores are microscopic and you cannot determine if it is affecting Indoor Air Quality without getting a lab involved.  With closer investigation it could be noted the exhaust fan for the shower and toilet area was ducted to the nearby soffit vent.   This is currently acceptable however in this case it was the root of the issue.

The way an attic vent system works is like a chimney, as the roof heats cool air is pulled into the soffit vents and hot air is exhausted out the ridge vents.  So as the diligent home owners ran their exhaust fans during the steamy shower all of the warm steam was pointed at an intake vent!!  All the moisture exhausted toward the vent and promptly turned around and was able to condense on the cool attic surfaces as the soffit vent did its job.

I can not tell you how many people have told me TODAY that they heard rates are going to 4.5%!!!

From your mouth to God's Ears!

As I write this, rates are close to 5.0%... but it's still quite a stretch to get to 4 ANYTHING... so should you just wait?

The reality is that the mortgage business has gotten pretty L-E-A-N on the "back" side... what I'm saying is that the layoffs (it's estimated that more than 200,000 jobs have been lost in the mortgage business) affected closers and UNDERWRITERS... underwriting times are already over 2 weeks in some places.

So let's say the rates DO go to 4.5%... do you think everybody in the country is going to be trying to get some of that fixed rate money???  Sign me up coach!  The Underwriting times are going to get EVEN LONGER...

Here's what we suggest... Start the loan application process NOW. If rates drop to 4.5, or WHATEVER, you'll be in the system, and ready to go THAT day.  You see, here's the catch.  With underwriting times backed up, you need a longer "lock" period.  A longer lock period costs more money... so if you're waiting for the CHEAPEST moment to get the rate - go ahead and commit to working with a lender, get in process NOW, and pull the trigger when the best time comes!!!

And one last note... I think it's important to shop around.  I really do.  But we are finally busy in the mortgage business, and our time is valuable.  If you're going to work with someone else, tell me.  If you're applying at 3 different shops at one time, let me know so that I can prioritize my time and efforts correctly.  I want your business, I'll work hard for it, and I will give you the lowest price I can!  But when you're standing around at the office, talking about what rate you got, and comparing that to your buddie's rate... remember, EVERYTHING is NOT equal.  Balances are different, Credit Scores are different, the COST of the committment fee will be different... it's not like the "old days," when all you had to know was the rate! Lending has gotten COMPLICATED!

For more information about credit scores and cash out refinances, click here.

For more information about how much equity you will need in order to refinance, click here

For information about your Adjustable Rate Mortgage click here.

If you are considering a refinance in NC or Virginia, please call us at 919-459-1313.

ps.  my personal opinion is that if rates go below 5% - it's not going to be for long... like maybe a couple of DAYS.

I recently read an article indicating that Blogging = Marketing.  The article was included in the Florida Association of Realtors EarlyBird News.  It featured a handful of excellent points about the positive aspects of blogging.  It inspired me to combine my thoughts with the points in the article. 

I BELIEVE THAT A SUCCESSFUL BLOG CAN BE THE VERY BEST BUSINESS CARD THAT WE CAN HAND OUT....

A successful blog gives credibility to an agent.

A successful blog can showcase an agent's expertise in a local real estate market. 

A successful blog can reflect many different sides of agent, humorous, business, personal side, etc.

A successful blog can be warmer and friendlier than a cold, sterile agent website. However, it can be an extension of that website.

For an agent, a successful blog can provide  a "welcome mat" or "breaking of the ice" to people that come into our lives. I can't tell you how many times I have been involved in a conversation with someone, that relates to something I have just recently written about in my blog or that I have just recently read in another blog.  I mention, "I just wrote an article on my blog about that." of "I just read an interesting blog about that very thing."  It allows that person to go back and read further. And, if they need you in the future for a real estate transaction they may call you.

A successful blog gives readers the ability of getting "to know" an agent online.  Readers are able to read an agent's opinions and perspectives to see if they have an interest in working with them before contact. For the potential client, there is no initial contact from the agent until they are ready for it!

A successful blog can give readers the ability of interacting with the agent by making comments and receiving feedback.

A successful blog allows readers to subscribe to an RSS feed, so they are notified each time the author writes a new article.

A successful blog can provide EXCELLENT, up to date, information to other realtors, lenders, buyers, sellers and everyday consumers.

A successful blog can give agents buyers, sellers and can generate listings.

A successful blog can allow an agent to showcase listings of the homes he/she has for sale to buyers across the world.

A successful blog can help one realtor connect with another, across the country to get a home sold or bought.

A successful blog gives an agent the ability of meeting, interacting and networking with other like minded agents across the country.  The networking possibilities are limitless!

An active, successful blog typically boasts high search engine rankings, because of regular, fresh content.

A blog can cost an agent little or NO money at all, just their time and dedication.

 

I BELIEVE THAT A SUCCESSFUL BLOG CAN BE ONE OF THE MOST POWERFUL TOOLS AN AGENT HAS TODAY IN HIS/HER MARKETING TOOLBOX.

 

NOTE: You noticed that I wrote the word "successful" blog before each of these points listed. I have read some incredible blogs in which it is obvious those agents that truly put their heart and soul and expertise into their blogs.

This article is authored by Sandy Shores, Melbourne FL REALTOR.

South Brevard County, Florida Space Coast.

 

 

I posted this last year but I think it is so important I am going to re-post it with some modifications. 

Last year the first thing I talked about in the post was the email that goes around saying to send a Christmas card to Walter Reed and I'm going to start there again as I have received so many of these emails lately.  Please Note DON'T SEND CHRISTMAS CARDS TO WALTER REED UNLESS YOU KNOW A SOLDIER TO SEND IT TO; it will not get there if you don't have an actual person you are sending the card to.  I checked this out on Truth or Fiction and the email is fiction. 

In a statement, the facility said "Walter Reed cannot accept these packages in support of the decision by then Deputy Undersecretary of Defense for Transportation Policy in 2001. This decision was made to ensure the safety and well being of patients and staff at medical centers throughout the Department of Defense."

If you would like to help a soldier this holiday season you can adopt a soldier to send things to. There is a group called Soldiers Angels where you basically adopt a soldier.  Our son is presently in Iraq on his second tour and I know our packages mean a lot to him.  He did tell me there are a lot of soldiers that are alienated from families for one reason or another and don't receive much.  Soldier's Angels sounds like the remedy for that problem.

I'm going to take this a step further and tell you how to send a flat rate package to a soldier.  Now mind you this has to be to a specific soldier.  If you don't put a name it will not be delivered but it is not hard to find soldier's just check with your friends.

As I said this is our son's second tour; on his first tour he was based at a town called Hit just northwest of Ramadi and the base was so small they really didn't even have a PX to speak of.  For 6 months of his tour he was on the graveyard shift so if we didn't send food he was pretty much stuck eating MRE's.  Needless to say I became an expert at sending care packages so I am going to pass my knowledge forward as I know there are many other soldiers like him who would love some extra care packages.   

Figuring out how to send these packages was a learning experience.  The first time I sent one I arrived at the post office with this big heavy box and spent something like $30 in shipping.  I happened upon a really nice postal worker.  He saw I was shipping to an APO in Iraq and turned me on to Flat rate shipping provided by our USPS.  He told me that I could send several of the flat rate boxes for less than it would cost me to send the one big box. 

When I sent him boxes on his first tour there were only two sizes available but there are now three different sizes of flat rate boxes.  The two smaller boxes hold about the same amount but are made totally different.  One is long and narrow and the other is short and squatty.  The new larger box holds about 50% more and since I found out about it I have used it exclusively.  It cost me $10.95 to ship using this box and I can make it as heavy as I want to.  Normally this flat rate box cost $12.95 but the postal service gives a $2.00 discount when you ship to an APO.  To be quite honest I'm not even sure what the curren charge is on the smaller box as I now only use the large one. Any amount of material may be enclosed as long as the box is not modified and the contents fit inside.  .

These boxes are provided to us free from our USPS and you can pick them up at most post offices prior to shipping.  The only time I had trouble finding them was the Christmas season as the post office was having problems keeping them in stock.  At the same time you pick the flat rate boxes up you will also want to pick up some "Customs Declaration and Dispatch Notices" and some priority mail address labels.  You will need to fill out the Customs Declaration and you are going to need to put in a description of what you are sending.  It says detailed but you can just write things like 6 cans of soup, 2 packages of crackers, candy, 3 cans of tuna etc.  That will suffice for detailed.  You will need to put in a value and I always marked treat as abandoned.  You will then need to date and sign the form.  You have to press hard as there are 6 copies to go through.  I always filled out an address label also and put it on the box.  I had a postal worker tell me to fill both out just in case the customs declaration came off. 

I am sorry but there are no short cuts to standing in line.  YOU CAN NOT USE THE SPEEDY CHECK OUT MACHINE.  My neighbor did that the first time she sent a package and it came back to her because she had not added the customs declaration page. 

The soldiers love getting useful stuff.  Our daughter is a flight attendant for a charter company that moves our troops and she told me that someone sent some marines off with lei's which they proceeded to give to the flight attendants.  The thought was nice but I think they would have preferred something that was useful to them. I send things like soup, tuna, crackers, summer sausage, non-perishable cheese, candy.  You get the idea anything that is non-perishable.  In a few weeks I will send homemade cookies and candy to my son.  Our son isn't that crazy about sweets but I know he shares what I send.  You can be assured that if the soldier you are sending to doesn't like what you sent they will pass it on to someone that does. 

So should you hear about someone that is stationed over in Iraq or Afghanistan you now know how to mail them a box of goodies using these wonderful flat rate boxes provided to us by our postal service.  Amazingly these boxes typically got to our son within a week to 10 days even at the busy Christmas season.  About the only time I did not us the flat rate boxes were when I sent Ramon noodles or the time I sent an air mattress bed as it didn't fit.

Most folks want to avoid PMI... but they don't realize that they are happily paying a "kind" of mortgage insurance no matter what kind of loan they are getting!

Mortgage Insurance is not the insurance that covers you if you die, or are disabled and can not pay the mortgage... it's the insurance that protects the BANK in the event you go into foreclosure.

Given the recent UP TICK in foreclosures, you can see why banks are requiring higher coverage amounts!  If you are applying for a Conventional mortgage, and you are putting more then 20% on a property you plan to live in, you avoid this additional insurance...

if not, well, there are some cases whereby you can get it Lender Funded (meaning the rate is higher to cover the cost) or you might be offered secondary financing (often called a 80-10-10). OTHERWISE, you're stuck... but it's often tax deductable, and PMI is what's keeping the mortgage wheels rolling, so play along!

If you are applying for a FHA mortgage - you're insurance premium has gone up to 1.75% with monthly payments of .55% of the total loan amount.  For more information on the FHA PMI (or MIP), please click here.

USDA and VA loans both have Guarantee Fees.  These fees are charged by the respective agencies - but I've always considered them as the "insurance" collected to cover the agency in the event of a default on the mortgage.  The main difference between the Guarantee Fees and PMI (or MIP) is that there's no MONTHLY fee (plus they call it a fee, not insurance)!

If you have additional questions about MIP, PMI or Guarantee Fees, CALL US!