Winter Home Maintenance

It is important at this time of year to think about winter home preparation and maintenance. As the temperatures drop, your home has needs to keep it in great shape through the winter.
You should seal off your house during the colder months. Use weather stripping around doors to prevent cold air from entering and caulk around windows. Replace any cracked glass in windows or doors. If your home has a basement, invest in plastic covers for protection of the window wells. All these steps will seal off your home from the cold and help keep the cost of heating your home low. Next check the furnace. Call your heating, ventilating and air conditioning (HVAC) professional to inspect and clean your furnace. You should change your furnace filter monthly. Because the furnace will be running during the winter months, make sure all flammable materials are away from the area around the furnace. Check the fireplace to make sure that the "cap" or "screen" on the top of the chimney is closed to keep out rodents and birds. If your chimney has not been cleaned since last winter, make sure you call a chimney sweep to remove soot and creosote. Then you are ready to strike up a fire. Checking roofs, gutters and downspouts will protect your home from winter damage. Make sure to check for worn roof shingles or tiles and replace them to prevent leaks. Clean the gutters of leaves and debris, and install leaf guards onto the gutter so that water is directed away from the house. You should also trim tree branches away from the house or any electrical wires. It is also a good ideat to have working fire and carbon monoxide detectors. Test each of them to ensure they are working properly. You want to make sure that you have both detectors next to the furnace and water heater. You might consider buying a fire extinguisher or replace one that is older than 10 years, in case of emergencies. With the cold weather, freezing pipes is a homeowner's worst nightmare. To prevent pipes from freezing this winter, make sure you drain the water out of all garden hoses and air conditioner pipes. If your AC has a water shut-off valve make sure to turn it off, and remember to leave the heat on when if you are going away for the holidays. You should leave it set at 55 degrees to prevent freezing pipes. By maintaining your home you can enjoy the winter months and the holidays without the added stress of home repairs.

Short Sales

In these times, when people are faced with forclosure caused by job/income losses, a weak economy, divorce, rising adjustable mortgage rates, and illness it is helpful to know the steps the homeowner should follow to pursue a Short Sale instead of going into forclosure. A short sale occurs when the owners/sellers do not net enough money and equity from the sale of the property to pay off all mortgages, fees, liens, and closing costs. They are "short" when they go to the closing table. A short sales does not impact the owners credit rating as dramatically as a foreclosure. There are factors to consider, such as the potential that the owner could still owe the difference shorted in the sale or the amount, if forgiven, could be considered taxable income. An owner/seller should follow these steps to engage in a short sale.
-Obtain name, address, telephone number, and e-mail address of their lender's loss mitigation contact person, and the best time to reach him/her.
-Get specific directions as to what requirements need to be met from the lender's loss mitigation contact.
-Ask the lender to send a short sale packet, so the paperwork can be started.
-Complete paperwork and/or write a letter giving your consent for the lender to release short sale information to specified people who will need it. Also, the owner may be asked to write a letter describing what caused the current hardship situation.
-Owners will be required to complete a current financial statement.
-Owners may be asked to submit pay stubs, a copy of their listing agreement (if the property is listed) and bank statements.
-If there are other known lien holders against the owners, besides the mortgage company, the owners must make contact with these lien holders. All parties must be contacted and made aware of the short sale.
-If the lenders refuse to release for "no consideration," see what other options are available
-Secondary lien holders have few options and need to cooperate. The homeowner will be responsible for maintaining the property until it is sold and the property closes. The short sale process usually takes a minimum of 6 to 8 weeks. Once the short sale is approved by the lender, the homeowner will execute all documents that are necessary for selling the property, including listing agreements, purchase agreements, and closing documents, even though all sales proceeds will be going to the lender/lien holders.