The U.S. Department of Housing and Urban Development (HUD) and the U.S. Consumer Product Safety Commission (CPSC) have set up criteria on how homeowners can document that their home is plagued with Chinese drywall.
The government agencies have outlined what homeowners are to look for in identifying the faulty drywall, and how inspectors can confirm and document those observations.
Posted by SharonLast week, government-run Fannie Mae (FM) announced it would pay for closing costs on purchases of foreclosed homes in its inventory by qualified buyers. That inventory amounts to nearly 50,000 properties.
With so many buyers taking advantage of tax credits, coupled with low mortgage interest rates, Fannie Mae is hoping to clear away some of that vast inventory and help home buyers in the process.
The largest U.S. mortgage finance company is offering as much as 3.5 percent in closing cost assistance or an equal amount on the purchase of new appliances. Properties have to be pre-qualified before an offer can take place. Fannie Mae’s inventory is listed on HomePath.com, a website created by the lender to sell its foreclosed homes. The offer is good through May 1, 2010.
Fannie Mae sold 89,691 foreclosed homes during the 3rd quarter of 2009. Terry Edwards, executive vice president of credit portfolio management for FM, said in a statement, “Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover.”
Posted by Sharon Walker
As a homeowner and prospective seller, you’d like to think that you’re objective about your home, but it’s likely you’re not. I know I’m not - I don’t look at my home as a place for others to live in, but as the place where my husband and I reared our three grown children. It’s where we have entertained extended family for many Thanksgiving, Christmas and birthday celebrations. It’s been the roof under which we’ve entertained our friends with cookouts, games of cards, Scrabble, dominoes, etc. It’s our home and that’s very subjective.
But if you’re looking to sell your home, objectivity is a must.
Posted by SharonThe Environmental Protection Agency has important information to share with homeowners considering remodeling. Beginning in April, federal law will require contractors who work in homes (as well as childcare facilities or schools) built before 1978 to receive special training and certification for the removal of any surfaces covered with lead paint. Contractors will also have to follow stricter work practices to prevent lead contamination.
These regulations are being set up to more effectively prevent children from inhaling or swallowing toxic lead and to protect contractors from costly lawsuits. The risk of lead poisoning in children is still a health issue, although lead-based paint has been banned in this country since 1978.
Posted by Sharon
One of the most inexpensive ways to “remodel” a room is by painting. A change in wall color is an easy way to redefine any room in your home. And if you’re interested in making your paint choice a “green” selection, here’s some information regarding eco-friendly paint.
Announced last week, FHA-backed mortgages will require higher insurance premiums, better credit scores and a reduction in seller concessions for those applying for an FHA home loan. These changes are hoped to do battle with the rise in delinquencies.
The new requirements are:
Posted by Sharon
Perhaps you’ve been debating whether to try and sell your home or remodel part of it. If you’ve decided to stay put and are looking to hire a professional to handle your remodeling project(s), take heed. The National Association of Home Builders has a plethora of information on their website to aid you in the hiring process.
Here are some questions the NAHB asks you to consider:
Posted by SharonMany homeowners are struggling with making their monthly mortgage payments on a timely 
basis. Whether it’s due to a change in employment or an increase in their home loan’s interest rate, the need for help is equally felt.
The government’s response has been the Home Affordable Modification Program (HAMP). Its goal is to provide the borrower with an affordable and sustainable monthly payment to help them avoid foreclosure. What many don’t realize is that the help comes with a price.
Posted by Sharon
TCPALM, an online news agency covering “Florida’s Treasure Coast and Palm Beaches,” reports that first-time home buyers in the area are running out of patience with the Internal Revenue Service (IRS). For Port St. Lucie resident Lisa Davenport, her ordeal might even try the patience of Job.
A single mother with a 13-year-old son, Lisa purchased a townhome last year. The closing took place July 31. She sent the IRS all the necessary paperwork, including the 1040X form required to claim the $8,000 tax credit, on August 3.
That was five months ago. What’s the holdup?
Posted by SharonAir quality is an issue of global importance. There’s a great emphasis in this country to educate citizens, 
as well as businesses, on the need to lower our carbon footprint.
From decreasing our reliance on fossil fuels for transportation, to going “off grid,” our government and other agencies are raising awareness to our responsibility of keeping the air we breathe non-life threatening. Yet, there exists a threat not generally known: radon.
Posted by Sharon