Many people this year are skipping their annual vacation as a means of saving money. Some are planning to travel locally and see the sights that are seldom visited by people who live in the area. I know I was raised in New York but only toured the Statue of Liberty when my elderly aunt visited from Pennsylvania and asked to be taken there.

If you are one of the lucky ones getting away from home this year, you might want to follow the lead of many others and consider renting a room with a kitchen. These rooms seldom cost much more than an ordinary hotel but offer the opportunity to save a great deal of money on food. This can be a real budget-saver and an extremely comfortable way to travel. They are usually referred to as the “extended-stay” offerings from major hotel chains. Examples of these are brands such as Homestead Studio Suites, Residence Inn by Marriott, Candlewood Suites and Staybridge Suites. There are others but, before making a reservation, be sure to confirm the availability of a full kitchen and, if wanted, laundry facilities. Some offer only “kitchenettes” and may not meet your needs.

Another route being taken by travelers this year is arranging for a vacation rental. The Internet provides access to a huge variety of rentals all over the world. One site lists more than 100,000 rental properties. Finding a property in the area you are planning to visit should be simple, however, you are taking this property sight unseen and really have no guarantee as to the condition, cleanliness, etc. If you have someone in the area who could check this out for you, that would be wonderful. Otherwise, you are taking a gamble if you are renting directly from the owner or through an agency whose reputation is not well-known to you. This rental property will provide the same savings as the “extended-stay” hotels discussed above.

The above are options that are available to you in order to have your vacation and still save some of the money you would pay to stay in a hotel room and eat all of your meals at local restaurants.

Homes often contain mold which is very upsetting to the homeowner. What can you do about this condition? In some areas this is not a problem, but in others it is a major concern. Since I’ve moved South, mold has become much more of an issue in my life than it ever was before.

In order to prevent mold from forming in your home, you need to prevent moisture from forming. Indoor mold usually comes from sources outside the home. Leaky roofs, plumbing problems and wet basements are usually sources of problems. If not well ventilated, steam from cooking and bathroom showers can also present problems with mold.

In order to prevent mold, it is important that you keep susceptible areas in your home dry and clean. It is necessary that you ventilate these areas or use exhaust fans vented outdoors in bathrooms, kitchens, and laundry areas. It is also important that dryer vents are vented outdoors and that all water leaks are repaired promptly.

During humid weather, use air conditioners and dehumidifiers to prevent condensation. Exterior wall insulation prevents condensation during cold weather.

There are numerous types of mold and many of these cause illness to the inhabitants. Following the above suggestions might make your life more comfortable and provide a healthier atmosphere for you and your family.

In today’s economic times, everyone is conserving and saving as much as possible. One of the places we should concentrate on is our home. Being alert at home and adjusting some of our habits, has the potential to result in both energy savings and financial savings. Everyone wants to save money and most of us are very conscious about the environment so this should be a win-win opportunity.

Lights should be turned off when not in use. If you have children who are constantly leaving the lights and television on, put up a sign. Retraining takes time but could prove to be well worth the effort, besides which your children will be learning good habits. Although children are seldom aware of financial costs involved, they are concerned with the environment and stressing saving our resources might be the way to motivate them.

Begin slowly if cost is a factor, but work towards replacing all of your incandescent light bulbs with compact fluorescent ones. These last longer and will also save energy.

Unplug items which draw power when turned off. Examples of these are computers, televisions and microwaves. Again, retraining may be necessary, but this could be beneficial in the long run.

Heat and cool only when house is occupied. Automatic timers can help by regulating the temperatures at certain times of day. This will allow you to come home to a comfortable house without having paid for heating or cooling during the hours you were gone.

A good portion of the heat entering your home comes through the windows. An investment in thick shades or window film could provide a substantial savings off your cooling bill. For a particularly hot area of your home, you might want to invest in an awning or planting trees.

Air conditioning filters are inexpensive but can provide big savings if changed monthly. This is particularly important during the summer months as dirty filters prevent air flow and cause the cooling system to work harder.

Installing ceiling fans can create air circulation that will make you feel more comfortable in a space. They do use electricity but there is still savings available due to the change in temperature.

Caulk and apply weather stripping to close gaps around windows and doors.

Install pipe insulation on hot water pipes and check and repair leaky faucets, pipes and toilets. The small leaks are more expensive and wasteful than you may think,

Before the recent dramatic downturn in the housing market, prices were rising rapidly and many people purchased homes for investment purposes. Some planned on keeping them long-term and earning rental income from them over the years. Others were looking for short-term gains and planned on selling as soon as the value increased a certain percentage. Some of these investors were very surprised when the housing market reversed itself dramatically, often leaving them in debt instead of with the profits they had anticipated.

A friend of mine purchased a home approximately ten years ago as a rental property. She, however, saw this as additional income for her future but did not want to be anyone’s landlord. Her solution to this dilemma was to hire a property manager. Many realty agencies employ someone who works through them as a property manager. Other times individuals form their own companies and manage rentals for a large number of people. There is generally a contract describing the responsibilities of each party and signed by both. One of the contracts my friend signed did not have a clause about late payments and this eventually became a problem when the tenant stopped paying his rent on time.

My friend believes that, as in prior contracts with other managers, she is entitled to all of the rental income generated from her home. She feels that the agent should collect the rent on time or absorb any costs involved in having it paid. The agent, however, believes that collecting past due rent is a separate function requiring time and effort on her part and that she should receive the late rental fee to compensate for this extra work. As my friend was very satisfied with the job this property manager was doing for her, they agreed to split the rental fee for the remainder of the contract period and renegotiate the issue before signing a new contract. This solution was satisfactory to both parties and eliminated the existing conflict. Of course, everyone is really hoping that the tenant returns to timely rent payments in the very near future.

Over the years, banks and finance companies have been doing everything possible to persuade people to access the equity they have in their homes. They have provided teaser rates, expensive gifts; even trips have been made available to anyone willing to further mortgage their homes. They have spent years convincing the general public that this is money they should be spending on something else. Homeowners have been enticed into raising their standard of living by using these funds. Suddenly, they were able to afford that fancy new car, big screen television, or luxury vacation. Then the bubble burst.

Today everyone is searching for ways to economize. Most people are rapidly looking for areas to lower their expenses so that they can still afford the necessities. Luxuries are being eliminated from most family budgets in these times. Gas mileage is being tracked constantly and economical meals are being served frequently. Everyone is discussing the price of gas and food. Times have changed rapidly for the average family.

If you took a home equity loan with a fixed rate and a lump sum payment, you now, of course, have the items you borrowed the money to purchase. If, however, you took a home equity line of credit (HELOC) at a variable rate, you may well find that your account has been frozen by the bank and there are no more funds available to you. This has been extremely frustrating to those people who agreed to borrow this money and had made plans based on the availability of these funds. The banks are closing these accounts without even having the property appraised. They are just assuming that the value has declined and in some cases that is not true. Financial institutions are also not taking a borrowers’ credit history into account when making these decisions. This is being done solely for the benefit of the banks and loan companies who know that all of this money is at risk. A home equity loan is a second mortgage. With values declining, many homeowners are finding themselves “upside down”, which means they have borrowed more than the current value of their property. If foreclosure should become necessary, all of the funds from the property would go to the first mortgage holder and the second mortgage holder would receive little or nothing. The law protects the first mortgage holder in this situation.

As a first time homebuyer, you are generally unprepared for much of what is going to happen in the very near future. While approaching this time in your life you are concentrating on the type and size of the home you want and the area where you would like to live. If you are young and beginning parenting, you are interested in school district information. Does the home have room for your family to grow? These are normal areas for you to concentrate on at this time. The surprise is how much you need to investigate regarding the financial part of this purchase.

If you begin with a checklist, the entire process may be less stressful for you. There are several other things you need to consider regarding your new home and a list will help you to take an organized approach to all of things which must be considered at this time.

In addition to the items mentioned above, before you start shopping, it is necessary that you determine how much you can afford to spend. There are online calculators that can help you determine this amount but, in the end, a conversation with a lender will confirm if this is an accurate figure. You will need to be prepared to discuss your current income, credit rating, monthly expenses, down payment options and available interest rates. It will be necessary to shop around for the best deal and to be sure all of your facts are accurate. When you feel comfortable with the financing arrangements, consider applying for a pre-approval for your loan. Although this is not a guarantee to a potential seller, someone who already has a pre-approval will be more appealing than someone without. This could be the turning point in you getting the home of your dreams.

It is often a good idea to work with a real estate agent who can provide valuable information, especially about the area if you are new to the neighborhood. Prepare a checklist of your most important needs for your new home and then let the agent show you what’s available in your price range. A good real estate agent has already previewed the home he’s showing you and knows that it meets your requirements. Remember though, all offers to buy should be contingent on a home inspection.

Once the decision to buy has been made, you will need to visit with your insurance agent to arrange for a homeowner’s insurance policy. As with the other areas of this purchase, there are options available to you. Your agent should provide advice as to the best type of policy for you to make sure that you have adequate coverage for your new home. Replacement Guarantee and inflation-adjusted coverage are two significant areas you should inquire about. It is important to shop for prices on a homeowner policy as premiums can vary greatly from one company to another. Frequently, if you choose the company who holds your auto insurance policy, you will be eligible for a multi-policy discount. This does not, however, guarantee the lowest premium available.

When the average person begins to start looking for a home to buy, they generally do not know anything about mortgages. They often depend on the people they meet to provide them with accurate and helpful information. This is not always the case, however, which is why potential homeowners need to first educate themselves regarding obtaining a mortgage, and then they should begin the search for their new home.

The wise buyer will attend a free mortgage seminar to learn about how to submit mortgage applications, what information will be required of them, what type of closing costs should they expect, etc. so that they can allocate their money accordingly. There are many things to be learned in a class such as this and it is the smart buyer who takes the time to educate himself. This is most likely the largest investment you will ever make, therefore, it is extremely important that you understand all aspects of a mortgage.

This is also a good time to check your credit reports and fico score. If you have any sort of incorrect negative information on your report, you will want to have this corrected before applying for a mortgage. In today’s market, banks and finance companies are carefully scrutinizing these reports before offering financing. Negative issues on your report can cause you to be eligible for a higher rate. This, in turn, will increase your payments for the duration of the mortgage.

Keeping yourself informed as to current interest rates is also very important. Armed with the knowledge that you have a good credit history, you should be able to recognize when a rate is too high to be acceptable. A good source of current rate information is the internet, where there are several sites that compare rates and provide calculators to assist you in determining how large a mortgage you can afford.

It is extremely important to be certain that you are dealing with a reputable lender who will treat you fairly, and not fall victim to the promotional items that lenders sometimes offer to gain your business. Predatory loans are generally those with higher rates and detrimental conditions. Anytime someone suggests falsifying information or hands you an application with many blank spaces, it is time to leave. This is not someone with whom you want to do business.

Be certain to make arrangements to receive your final settlement statement before the actual closing takes place. This allows you time to review the charges and ask questions if needed. If these figures seem exceptionally higher than the good faith estimate you originally received, consider contacting a professional to review them before closing.

Home safety should be a priority with everyone. We all want to avoid accidents and injuries that often take place in the home. A wise homeowner practices prevention and is generally rewarded with a claim-free history with their insurance company. This, of course, is not a guarantee, but many surveys have proven that regular safety checks result in safer surroundings for you and your family.  Especially important to new parents, parenting magazines are often filled with many of these tips, but they will be helpful to anyone.

Stair treads and railings can be very dangerous. Remove any hazardous materials on the steps to avoid falls and verify that rails are sturdy and spaced appropriately for young children.

Always check electric cords for fraying. Have all cords contained in such a manner that no one will trip on them. Be sure not to overload one particular socket. If necessary, relocate some appliances or light fixtures.

Medicine cabinets should be checked regularly that all safety caps have been replaced properly and that no medications or hazardous materials are in the reach of children. Also, verify that storage areas under sinks do not contain anything that can be harmful to little ones.

Smoke detectors should be placed on each floor of the home with batteries replaced regularly. It is always a good idea to note the change dates on your calendar, or to coincide changing the batteries with a specific event such as changing the clocks at Daylight Savings time. Health insurance companies will offer discounts for having smoke detectors and fire alarms.

Adequate lighting, especially in hallways and on stairs, is essential for keeping everyone safe. Replace burned-out bulbs immediately and consider using low-energy bulbs which last much longer than ordinary light bulbs. Using nightlights is another worthwhile precaution.

The current housing market is tempting many potential investors to consider buying a home and becoming a landlord.  This sounds like a wonderful idea as the prices are low, supply is plentiful and good deals can certainly be found in the real estate market of today.  While buying rental property can be a profitable and sound investment, caution must be used in that the possibility of facing losses also exists.  A rental home without tenants is not profitable.  Some of the following should be seriously considered and investigated before an investment is made:

The golden rule of home buying should also apply to rental property.  The first and foremost consideration should be location.  If you are purchasing a property that has been a rental in the past, request to see the rental records to establish how many times vacancies existed.  You would also want to see financial records showing income versus expenses if this is applicable.  You would have more information if you purchase a previously rented property versus a private home that you would make into a rental.

Before making a purchase you would have to calculate the costs involved, including items like insurance, taxes, mortgage payments, etc.  These would have to be weighed against the amount of rent currently being charged in the area for similar homes.  You should check real estate ads and visit properties on your own to get a good grip on what you should be able to anticipate as rental income.  If it appears that you will not make a substantial profit on the property, consider negotiating a lower price or looking elsewhere.

If you are not knowledgeable in the area of taxes, a tax adviser should be consulted to assist you in assessing the benefits of owning this property, the rules of depreciation and whether or not the resulting tax consequences are favorable for you.

One of the most important things to consider is that you rent your property to responsible people.  It is up to you to conduct a thorough background check on prospective renters.  You only want to rent to someone with a good credit history, someone who has rented before and has recommendations from previous landlords.  Employment also needs to be verified.

It is also the landlord’s responsibility to cover as many areas as possible in the lease.  Rules regarding pets, payment due dates, late fees, and parties should be spelled out clearly so their will be no misunderstanding in the future.

It is certainly possible to make owning a rental property profitable but you must enter into this new venture with the knowledge necessary to make it a success.

There are more foreclosures in today’s real estate market than ever before.  Unfortunately, many people are facing this devastating reality and trying to deal with it as best they can.  Unemployment is high, health insurance costs rising, gasoline prices, the economy as a whole is strained. If you live in Virginia, a solution may be available.  Gov. Timothy Kaine, in an effort to help our citizens avoid home foreclosures, formed the Virginia Foreclosure Prevention Task Force, whose purpose is to protect and preserve homeownership in Virginia.  June has been designated as National Homeownership Month in Virginia so the timing of the task force is right on target.

Anyone who has concerns about the health of their mortgage should consider attending this free clinic being presented by the Commonwealth of Virginia.  General foreclosure-prevention information will be presented, along with individual foreclosure counseling sessions manned by certified housing counselors trained to give loss mitigation and foreclosure prevention advice.

This clinic will stress the importance of contacting your lender early to inform them of upcoming problems.  It is imperative that people heading towards foreclosure know their prevention options, prioritize spending plans, and avoid many of the current scams. There are many suggestions this clinic can supply and, if serious attention is paid to their solutions, it is possible that you and your family can avoid the tragic experience of losing your home.  Everyone wants to pay their bills and act responsibly, but times are extremely difficult right now with inflation rising and job losses increasing.  We are all facing hard financial times and, for some, this means the possible loss of their home.  If it is possible to avoid this tragedy, attend a short clinic and see if their advice can help you retain your homeownership.

This clinic will teach you what to say when you call your lender and provide additional information that will benefit you in eventually saving your home from foreclosure.  This could be extremely beneficial to anyone facing this problem and might be the solution they are looking for.  Attendance at a free clinic could help resolve all of your family’s problems and should be considered as a real possible solution to your current dilemma.