RISMEDIA, September 8, 2010–Many prospective homeowners find out the hard way the importance of a good credit score when they apply for a home mortgage, especially after the subprime loan crisis. If you are considering buying a home in the near future, it is a good idea to give your credit score a check-up and then take positive steps to improve your credit score if you find problems. Ideally, it is best to begin working on improving your credit score at least six months before you plan to start shopping for a home.

According to the experts at Buy-and-Sell-House-Fast.com, the following tips will help you improve your credit and should be taken before you begin your home search.

The first critical step in taking care of your credit is to check your credit report. Unfortunately, many people fail to take this all important first step. Instead, they wait until they have applied for a mortgage loan to find out from the lender that there are problems with their credit scores.

By checking your credit score before you apply for a mortgage loan, you gain the opportunity to find out if there are problems which you can correct and discrepancies that need to be removed. When you check your credit report, make sure you check all three of the national credit reporting agencies: Experian, Trans-Union and EquiFax.

Review your credit report carefully for items that may be erroneous. If you believe that an item on your credit report is reported in error, you have the right to contest it. To do so, you will need to contact the credit reporting agency and explain why you believe the item is inaccurate. Supporting documentation such as receipts and cancelled checks can help your claim. Alternatively, you can engage a credit report repair services firm to fix your credit report.

If there are derogatory items on your credit report that are accurate but which could cause problems in your loan application, you cannot have them removed; however, you can take positive steps to counteract them. In the event that you have missed payments in the past, take steps now to get your bills current. Even if it means tapping into money that you might be planning to use for a down payment, it is essential that you get your accounts current and keep them that way. Begin by immediately making your payments on time. There is nothing which can lower your credit score more quickly than late payments. Ideally, make an attempt to begin sending in your payments a few days ahead of time to make sure they arrive on time and you do not have any more late payments on your record. If necessary, begin taking advantage of electronic payments in order to make sure your payments are made on time. Over time, this can make significant difference.

Keep in mind that eradicating all of your credit balances is really not the solution. In fact, credit can be your friend when you are looking to make a big purchase such as a home. The key is to make sure your credit is positive, not negative. Toward that end, avoid actually closing out your accounts. Instead, make an effort to pay down your balances and keep them paid down well below the minimum or completely paid off, but do not close the account. When your lender runs your credit to make a decision on your mortgage application, he or she will want to see that you have had a long credit management history.

After reviewing your credit history, if you see that most, if not all of your credit cards are maxed out or nearly maxed out, it is time to sit down and plan an aggressive strategy for paying some of them down. One of the critical factors that often determine your ability to be approved for a mortgage loan is your debt to income ratio. In addition, high credit card balances can drag down your credit score. Therefore, it is important to look at paying off some of your balances.

It is generally better to begin with your highest-rate balances first. Many consumers are tempted to move around balances when they receive an offer from another bank that is good; however, before you do this, remember that the worst thing you can do when you are trying to make a major purchase is to open new accounts.

By following these guidelines, you can improve your credit score and improve your chances of being approved for your home mortgage loan.

Brought to you by RisMedia
and sponsored by Lowes

http://rismedia.com/lowes/8355/10036

The Coast Guard also says it hasn’t seen any oil in the last 30 days in the 5,144-square mile area of the Gulf, allowing it to be cleared for fishing. Officials in Gulf states, including Florida, were part of the decision, according to NOAA.

The closure had stunted Florida’s Panhandle fishing industry, even though large swaths of the Gulf never closed to fishing. Public confusion about allowable fishing caused problems for charter fishing captains, who saw a significant drop in clients during recent months. It also has led to a downturn in seafood sales with customers wary of possible impacts from the BP spill.

“Consumer safety is NOAA’s primary concern, which is why we developed rigorous safety standards in conjunction with the FDA and the Gulf states to ensure that seafood is safe in the reopened area,” said Jane Lubchenco, under secretary of commerce for oceans and atmosphere and NOAA administrator. “We are confident that Gulf fish from this area is safe to eat and pleased that recreational and commercial fisherman can fish these waters again.”

Gov. Charlie Crist praised the move.

“The federal waters off beautiful Northwest Florida are once again open for fishing, and Florida’s commercial and recreational fishermen are eager to get back to work,” Crist said in a statement. “I join them in celebrating this much-needed boost to our economy and quality of life.” He then invited people to come to the Panhandle to go to the beach and “enjoy Florida’s delicious seafood.”

NOAA officials said they sampled 153 finfish, including grouper, snapper, tuna and mahi mahi, from the area from June 27 through July 20. NOAA scientists found “no detectable oil or dispersant odors or flavors, and results of chemical analysis well below the levels of concern.” NOAA will continue to take test samples from the newly re-opened area, and the agency has also implemented dockside sampling to test fish caught by commercial fishermen.

After Tuesday’s announcement, the closed area in the Gulf now includes 52,395 miles, or 22 percent of federal waters in the Gulf, down from 37 percent at its largest. NOAA had already re-opened about 26,000 square miles of the eastern Gulf off of Florida last month.

With Tuesday’s action, fishing is allowed in an area as close as about 115 miles from the Deepwater Horizon wellhead that was leaking oil.

Source: News Service of Florida

Finish, protect wood siding
Wood must be properly finished with a paint, stain, or clear sealer. Left unprotected, it’s susceptible to rot and decay caused by moisture. Of special concern is the fact that wood expands and contracts with normal changes in humidity and temperature. These fluctuations may cause paint finishes to chip and crack, and over time puts stress on caulked seams around windows, doors, and at corners. If the caulk separates and fails to keep out moisture, wood rot may develop. Even species of wood that have a natural resistance to rot, such as redwood, cypress, and cedar, may decay if not properly protected from the elements.

Paint comes in unlimited colors and can be changed at any time. A house with wood siding must be repainted at least every five years, or as soon as the paint finish begins to deteriorate. A DIY paint job requires about 60 hours of labor. A professional crew will paint a two-story, 2,300 sq. ft. house for $3,000-$5,000.

Stain is a good choice for wood because it allows the beauty of the grain to show through. Stain penetrates wood fibers and helps seal them against moisture; it’s also resistant to the cracking and chipping that affects paint. Because stain is a penetrating sealer—not a coating, like paint—it’s difficult to change the color of previously stained wood. Staining a house is less labor-intensive than painting because prep work is minimal. Expect to pay $2,000-$4,000 for a pro crew to stain a two-story, 2,300-sq. ft. house. Using a rented paint sprayer, a two-person DIY team can re-stain a two-story house in 4-5 days for about $500, including the stain.

Clear sealers prevent moisture damage and allow wood to retain its natural color, but they must be reapplied at least every two years. Clear sealers are formulated to help slow the process that allows ultraviolet light to turn wood silvery gray. However, all natural wood, regardless of species, eventually turns gray when exposed to years of sunlight. Using a rented paint sprayer, a two-person DIY team can refinish a two-story, 2,300 sq. ft. house in a 3-day weekend for about $500, including the finish.

Clean stains on wood siding
Dirt is the most common cause of discoloration on wood siding. Clean annually using warm, soapy water and a soft-bristled brush. Divide your house into 20-foot sections, clean each section from top to bottom and rinse before moving on.

Mildew appears as black spotty stains. Clean the area with a solution of one part bleach to four parts water. Wear eye protection and protect plants from splashes. Rinse thoroughly with clean water.

Rust stains often appear as dark black splotches and vertical streaks. They’re usually caused by a metal fastener, such as a nail or screw, that wasn’t galvanized. Contact with moisture causes the fastener to oxidize, leaving streaks. To remove the stain, dissolve 4 oz. oxalic acid (available at hardware stores and home improvement centers) in 1 cup warm water.

Wear eye protection and acid-proof gloves; avoid splashing the mixture onto adjacent surfaces. Apply the mixture to the stain and gently scrub with a soft bristle brush. Rinse thoroughly with water. Refinish the spot if necessary. Problem nails must be replaced with a galvanized or stainless steel fasteners.

Restore the color of natural wood siding
Siding that has discolored with age can be restored to its original color by applying a wood cleaner or brightener. These products often are intended for use on wood decks, but they work well on natural wood siding. They’re available at hardware stores and home improvement centers. Follow the manufacturer’s instructions.

Replace wood siding
Replace wood siding that show signs of damage. The most common damage comes from accidentally hitting the siding with sticks and stones thrown from a lawn mower, or from objects, like baseballs. Occasionally, wood siding may crack due to changes in atmospheric moisture. Repairs to wood siding require the expertise to remove the damaged siding while leaving surrounding siding intact. Unless you have the skills, hire a professional carpenter or siding contractor. Expect to pay $200-$300 to replace one or two damaged siding panels.

Prevent damage to wood siding
A house with wood siding is most vulnerable to water infiltration where siding butts against windows, doors, and corner moldings, says Frank Lesh, a professional house inspector in Chicago and past president of the American Society of Home Inspectors. Look for caulk that has cracked due to age, or has pulled away from adjacent surfaces, leaving gaps. Reapply a color-matched exterior caulk during dry days with temperatures in excess of 65 degrees F.

Lesh also stresses that no bush, tree branches, or shrubbery be allowed to touch the house siding. Foliage conducts moisture that can find its way into cracks and tiny openings in siding. “You should have enough room to comfortably walk between your house and any plant materials,” he says.

John Riha has written six books on home improvement and hundreds of articles on home-related topics. Riha has been a residential builder, the editorial director of the Black & Decker Home Improvement Library, and the executive editor of Better Homes and Gardens magazine. His standard 1968 suburban house has been an ongoing source of maintenance experience.

2. Develop your home wish list
Be honest about which features you must have and which you’d like to have. Handicap accessibility for an aging parent or special needs child is a must. Granite countertops and stainless steel appliances are in the bonus category. Come up with your top-five must-haves and top-five wants to help you focus your search and make a logical, rather than emotional, choice when home shopping.

3. Select where you want to live
Make a list of your top-five community priorities, such as commute time, schools, and recreational facilities. Ask your REALTOR® to help you identify three to four target neighborhoods based on your priorities.

4. Start saving
Have you saved enough money to qualify for a mortgage and cover your downpayment? Ideally, you should have 20% of the purchase price set aside for a downpayment, but some lenders allow as little as 5% down. A small downpayment preserves your savings for emergencies.

However, the lower your downpayment, the higher the loan amount you’ll need to qualify for, and if you still qualify, the higher your monthly payment. Your downpayment size can also influence your interest rate and the type of loan you can get.

Finally, if your downpayment is less than 20%, you’ll be required to purchase private mortgage insurance. Depending on the size of your loan, PMI can add hundreds to your monthly payment. Check with your state and local government for mortgage and downpayment assistance programs for first-time buyers.

5. Ask about all the costs before you sign
A downpayment is just one homebuying cost. Your REALTOR® can tell you what other costs buyers commonly pay in your area—including home inspections, attorneys’ fees, and transfer fees of 2% to 7% of the home price. Tally up the extras you’ll also want to buy after you move-in, such as window coverings and patio furniture for your new yard.

6. Get your credit in order
A credit report details your borrowing history, including any late payments and bad debts, and typically includes a credit score. Lenders lean heavily on your credit report and credit score in determining whether, how much, and at what interest rate to lend for a home. Most require a minimum credit score of 620 for a home mortgage.

You’re entitled to free copies of your credit reports annually from the major credit bureaus: Equifax, Experian, and TransUnion. Order and then pore over them to ensure the information is accurate, and try to correct any errors before you buy. If your credit score isn’t up to snuff, the easiest ways to improve it are to pay every bill on time and pay down high credit card debt.

7. Get prequalified
Meet with a lender to get a prequalification letter that says how much house you’re qualified to buy. Start gathering the paperwork your lender says it needs. Most want to see W-2 forms verifying your employment and income, copies of pay stubs, and two to four months of banking statements.

If you’re self-employed, you’ll need your current profit and loss statement, a current balance sheet, and personal and business income tax returns for the previous two years.

Consider your financing options. The longer the loan, the smaller your monthly payment. Fixed-rate mortgages offer payment certainty; an adjustable-rate mortgage offers a lower monthly payment. However, an adjustable-rate mortgage may adjust dramatically. Be sure to calculate your affordability at both the lowest and highest possible ARM rate.

Craig Fugate, director of the Federal Emergency Management Agency, said planners need to adjust their approach on how they view the public during a disaster and its aftermath.

“We literally look at the public as a liability,” Fugate said Wednesday at the 24th annual Governor’s Hurricane Conference at the Broward County Convention Center. “When we talk about the public, we say they need to have a plan.”

But Fugate said the public is not a static entity in the aftermath of a hurricane or other natural disaster. Residents often take action on their own.

“Generally, as we get to a scene, people weren’t waiting for us to get there. They were doing things already,” he said.

Emergency managers need to take advantage of the public’s spirit to act spontaneously. “They should be looking at the public as part of this team,” Fugate said.

The FEMA chief said assisting people during a disaster isn’t a one-size-fits-all proposition. Simply sending truckloads of ready-to-eat meals to a stricken community won’t help children too young to consume adult food. Or shipping standard military or camping cots to a disaster area won’t help seniors, the disabled or the overweight who may be unable to use them.

“Why are we only planning for healthy adults, who may be more self-sufficient?” he said.

Fugate said emergency managers should give the public a greater role in disaster planning. “It’s trying to change our approach at FEMA to focus on our customers,” he said.

Bill Read, director of the National Hurricane Center west of Miami, reminded attendees of what’s good and bad in predicting a storm’s characteristics.

What’s good: improvements in the accuracy of forecasting a storm’s path. Due to more sophisticated computer models and more frequent aerial reconnaissance, track forecasting errors have been cut in half over the past 15 years, Read said.

Last year’s 48-hour path predictions, he said, equaled the 24-hour predictions of 10 years earlier. And that trend should keep up. “We’re going to continue improving the track forecast,” he said.

But what’s bad is also scary: Little progress has been made in anticipating how strong a storm could get. “Current models have little or no skill” at predicting a hurricane’s intensity, he said. A storm suddenly growing stronger approaching landfall can greatly hamper efforts to determine if evacuation is warranted.

“With a storm rapidly intensifying near land, you’re not going to have that much lead time,” he said.

Gov. Charlie Crist is scheduled to address the conference Thursday with some grim news of his own: A disturbing number of Floridians at risk from hurricanes are unprepared and unconcerned. According to a Mason-Dixon poll by the National Hurricane Survival Initiative, 17 percent of coastal residents said they would not evacuate even if ordered.

“If people do not heed the evacuation orders, if people don’t move to higher ground,” Fugate said, “we’re going to lose lives.”

Copyright © 2010 Sun Sentinel, Fort Lauderdale, Fla., Robert Nolin. Distributed by McClatchy-Tribune Information Services.

“Empty restaurants, empty rental properties or empty stores resulting from this oil spill are the direct responsibly of BP, and that’s exactly who should pay for it,” says CFO Sink. “It is crucial that our small business owners keep meticulous records about their losses so that BP claims can be expedited.”

CFO Sink suggested the following items:

First: Make detailed records of cancelled reservations. News reports suggest that many condominium owners, hotels and restaurants are already seeing increased cancellations. “It’s important that when these cancellations occur, the cancelling party is questioned whether the cause is because of the oil spill,” says Sink. “If the answer is ‘yes,’ keep a record of the person’s name, contact information and revenues lost as a result of the cancellation.”
Second: Calculate estimated losses for a six-week period and keep all records, sales receipts and documentation to support the claim. A good idea would be to compare business now to a five-year average of revenues between May and June, which can offer insight as to the damages incurred.
Third: Make a detailed list of assets – including non-structural – and include appropriate records to support the list. Damage does not always have to be direct. If a hotel or restaurant is within walking distance of the beach and the oil hits that beach, it damages the business’ assets even without physical damage to the structure. “It’s important to record this depreciation,” Sink says.
Fourth: Be wary of insurance settlement scams. If starting to file a claim, make sure you deal with authorized representatives of BP and not scam artists; and be careful not to sign waivers of liability too quickly without legal and financial counsel.
In all circumstances, Sink says, affected businesses should file a claim with British Petroleum (BP Oil) via the hotline number – (800) 440-0858.

Additional guidance to help small businesses survive a disaster can be found at www.MyFloridaCFO.com or by calling (850) 413-3089 or toll-free at (877) MY-FL- CFO (1-877-693-5236).

“I’ve activated my consumer helpline to assist Florida business owners with questions about how this spill will impact their businesses,” says Sink. “Florida businesses can take steps now to help expedite delivering their claim to BP, as well as help themselves be ready to take advantage of federal and state aid that may become available for recovery.”

© 2010 Florida Realtors®

As with any natural disaster, scam artists see an opportunity to make money off other people’s losses. However, fraud is illegal, and McCollum asked anyone seeing fraud to report it to Florida’s fraud hotline at: (866) 966-7226.

According to McCollum, it’s too early to know the extent of the problem since oil continues to escape into the Gulf of Mexico and attempts to stem the flow have been unsuccessful. As a result, Floridians should not waive any rights or sign any settlement documents from companies or corporations until they know the full extent of their loss, which could be significantly higher than the money offered initially.

Additionally, in what could be one of the most significant environmental clean-ups in Florida’s history, Attorney General McCollum clarified that Florida statutes provide no cap on recoveries related to natural resources. During the past weekend, Attorney General McCollum met with the Attorneys General of Alabama, Louisiana, Texas and Mississippi to discuss a number of legal options to ensure costs and damages to Gulf coast states, businesses and residents are recouped.

Consumers can find more information on the Attorney General’s website at http://www.myfloridalegal.com. Additional information on the State Emergency Response Team’s efforts can be found at http://www.floridadisaster.org.

© 2010 Florida Realtors®

WASHINGTON – April 28, 2010 – Members of the military, foreign service and intelligence communities may have an additional year to buy a home and claim the homebuyer tax credit – up to $8,000 – that expires for most Americans on April 30.

To qualify for the extended tax credit deadline, service members must have served on official extended duty outside of the United States for 90 days or more at any time between Jan. 1, 2009, and April 30, 2010. If so, they have until April 30, 2011, to sign a sales contract, and until June 30, 2011, to settle and close on the home. The rule includes both the $8,000 first-time and $6,500 repeat homebuyer tax credit.

Under the law, “qualified service members” includes those serving in the uniformed services of the United States military, a member of the Foreign Service of the United States or an employee of the intelligence community.

The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they must sell their home after receiving government orders for extended duty service.

By David Bauerlein
The Web site for Florida’s long-awaited appliance rebate program was back in operation for consumers to start placing their rebate reservations at 11 a.m. But being able to reach the site is a hit-or-miss proposition.

The state’s Web site is www.rebates.com/florida.

The site was down between 9 a.m and 11 a.m. in preparation for taking reservations as scheduled after 11 a.m. State officials strongly urge the reservations because it is a first-come, first-serve program until the money runs out.

A Times-Union reporter was able to log onto the site after 11 a.m., but it took several attempts. The reporter then had the same problems on subsequent attempts.

State officials advised consumers to have “patience and perseverance” because of high volume of hits on the Web site.

The 20 percent rebate for appliances kicked off today amid the kind of retail buzz that usually accompanies high-tech gadgets rather than clothes washers.

Sears, hhgregg and Best Buy opened stores at 6 a.m. for early-bird shoppers. Lowe’s and Home Depot also promoted the rebates to their shoppers.

The $17.5 million rebate program, funded by federal stimulus money, will provide the rebates to Florida residents purchasing select Energy Star-rated appliances. Those are refrigerators, freezers, clothes washers, dishwashers, tankless gas water heaters, and room air conditioners.

Shoppers have been asking about the program for the past month, said Tom Crosby IV, owner of Crosby & Son Appliances on the Westside.

“We’re a third-generation business but I’ve never seen anything like this,” he said Thursday.

His store opened an hour early at 7 a.m.

State officials expect the rebates will be enough for 68,000 appliances and all the rebate funding could be sucked up by purchases made the first day. Appliances must be purchased at Florida stores. Online purchases won’t qualify.

After buying the appliance, the next step will be to go to the state’s Web site, www.rebates.com/florida, and reserve rebate money for your purchase. The Web site will start taking reservations at 11 a.m. The site will keep a running tally of how much rebate money is left.

Consumers will then mail in rebate forms that can be downloaded from the state’s site. The state doesn’t have a phone number for the program.

david.bauerlein@jacksonville.com,

Florida Realtors® has been approved as an authorized institution by the Department of Defense as part of the Military Spouse Career Advancement Account (MyCAA) program. This program will provide up to $6000 of education assistance to eligible spouses of active-duty military members. The program will allow any member of Florida Realtors® who take advantage of this program to register for any Florida Realtors® sponsored course (GRI, CE Express or Convention) with no out-of-pocket expenses, including Florida Realtors® sponsored courses at their local board.

More information will be available from Florida Realtors® as soon as the details are finalized. For answers to any questions about the MyCAA program, click here.