Ice Dams and Attic Condensation
Two types of attic water damage are common in cold climates: ice dams and condensation of water vapor on cold surfaces in the attic.
Ice Dams
Ice dams sometimes occur on sloping roofs in climates with freezing temperatures. When the temperature in your attic is above freezing, it causes snow on the roof to melt and run down the sloping roof. When the snowmelt runs down the roof and hits the colder eaves, it refreezes.
If this cycle repeats over several days, the freezing snowmelt builds up and forms a dam of ice, behind which water ponds. The ponding water can back up under the roof covering and leak into the attic or along exterior walls.
The right weather conditions for ice dams is usually when outside air temperatures are in the low 20s (°F) for several days with several inches of snow on the roof.
Research shows keeping the attic air temperature below freezing when the outside air temperature is in the low 20s can reduce the occurrence of ice dams... Warm air from living spaces below penetrating into the attic is usually the culprit in the formation of ice dams.
Attic Condensation
Condensation of water vapor on cold surfaces in attics can cause attic wood products to rot... Condensation typically occurs when warm, moist air migrates into the attic from living spaces below.
Prevention
Prevent warm, moist air in living spaces from infiltrating into the attic with a good air barrier and appropriate water vapor control at the base of the attic.
Provide good attic ventilation to replace warm air in the attic with cold outside air.
Provide adequate attic insulation to reduce the transmission of heat into the attic from living spaces below.
Consult a professional...
What not to Do
Do not routinely remove snow from the roof. It will likely lead to shingle damage.
Do not attempt to "chip away" the ice of an ice dam. It will likely lead to shingle damage.
Do not install mechanical equipment or water heaters in attics, especially in cold climates.
Do not use salt or calcium chloride to melt snow on a roof. These chemicals are very corrosive and can shorten the life of metal gutters, downspouts and flashings...
If ice dams are causing water damage
...In order to avoid the same problem in the future, a qualified contractor should assess the amount of attic insulation and attic ventilation (especially around where the ice dam formed), and look for holes in the air barrier between the living spaces and the attic.
If you see water staining at an exterior wall or ceiling where there is snow on the roof above it, act quickly to avoid extensive damage.
Hire a contractor to carefully remove most of the snow from the roof above the ice dam...
Source: http://www.statefarm.com/learning/loss_prevent/learning_lossprevention_icedams.asp accessed February 13, 2010 8:10p.m.
Saturday, February 13, 2010
Sunday, January 31, 2010
Energy effieciency could mean tax credits
As you prepare for filing your 2009 tax returns, I thought this might be helpful. It might even save you a few dollars!
"Consumer Energy Tax Incentives What the American Recovery and Reinvestment Act Means to You"
The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT) and amended in the Emergency Economic Stabilization Act of 2008 (P.L. 110-343).
See the summary of the energy tax incentives included in the Emergency Economic Stabilization Act of 2008.
...A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.
Fuel-efficient vehicles and energy-efficient appliances and products provide many benefits such as better gas mileage –meaning lower gasoline costs, fewer emissions, lower energy bills, increased indoor comfort, and reduced air pollution.
In addition to federal tax incentives, some consumers will also be eligible for utility or state rebates, as well as state tax incentives for energy-efficient homes, vehicles and equipment. Each state’s energy office web site may have more information on specific state tax information.
Below is a summary of many of the tax credits available to consumers. Please see the ENERGY STAR® page on Federal Tax Credits for Energy Efficiency for more details on federal incentives and the Database of State Incentives for Renewables and Efficiency (DSIRE) for information on federal, state, local, and utility incentives.
HOME ENERGY EFFICIENCY IMPROVEMENT TAX CREDITS
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010. See EnergyStar.gov's Federal Tax Credits for Energy Efficiency for a complete summary of energy efficiency tax credits available to consumers.
RESIDENTIAL RENEWABLE ENERGY TAX CREDITSConsumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016...
AUTOMOBILE TAX CREDITS
Hybrid Gas-Electric and Alternative Fuel VehiclesIndividuals and businesses who buy or lease a new hybrid gas-electric car or truck are eligible for an income tax credit for vehicles “placed in service” starting January 1, 2006, and purchased on or before December 31, 2010. The amount of the credit depends on the fuel economy, the weight of the vehicle, and whether the tax credit has been or is being phased out...
This tax credit will be phased out for each manufacturer once that company has sold 60,000 eligible vehicles. At that point, the tax credit for each company’s vehicles will be gradually reduced over the course 15 months. See the IRS's Summary of the Credit for Qualified Hybrid
source: http://www.energy.gov/taxbreaks.htm accessed January 31, 2010
"Consumer Energy Tax Incentives What the American Recovery and Reinvestment Act Means to You"
The American Recovery and Reinvestment Act of 2009 extended many consumer tax incentives originally introduced in the Energy Policy Act of 2005 (EPACT) and amended in the Emergency Economic Stabilization Act of 2008 (P.L. 110-343).
See the summary of the energy tax incentives included in the Emergency Economic Stabilization Act of 2008.
...A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed. Consumers can itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.
Fuel-efficient vehicles and energy-efficient appliances and products provide many benefits such as better gas mileage –meaning lower gasoline costs, fewer emissions, lower energy bills, increased indoor comfort, and reduced air pollution.
In addition to federal tax incentives, some consumers will also be eligible for utility or state rebates, as well as state tax incentives for energy-efficient homes, vehicles and equipment. Each state’s energy office web site may have more information on specific state tax information.
Below is a summary of many of the tax credits available to consumers. Please see the ENERGY STAR® page on Federal Tax Credits for Energy Efficiency for more details on federal incentives and the Database of State Incentives for Renewables and Efficiency (DSIRE) for information on federal, state, local, and utility incentives.
HOME ENERGY EFFICIENCY IMPROVEMENT TAX CREDITS
Consumers who purchase and install specific products, such as energy-efficient windows, insulation, doors, roofs, and heating and cooling equipment in existing homes can receive a tax credit for 30% of the cost, up to $1,500, for improvements "placed in service" starting January 1, 2009, through December 31, 2010. See EnergyStar.gov's Federal Tax Credits for Energy Efficiency for a complete summary of energy efficiency tax credits available to consumers.
RESIDENTIAL RENEWABLE ENERGY TAX CREDITSConsumers who install solar energy systems (including solar water heating and solar electric systems), small wind systems, geothermal heat pumps, and residential fuel cell and microturbine systems can receive a 30% tax credit for systems placed in service before December 31, 2016...
AUTOMOBILE TAX CREDITS
Hybrid Gas-Electric and Alternative Fuel VehiclesIndividuals and businesses who buy or lease a new hybrid gas-electric car or truck are eligible for an income tax credit for vehicles “placed in service” starting January 1, 2006, and purchased on or before December 31, 2010. The amount of the credit depends on the fuel economy, the weight of the vehicle, and whether the tax credit has been or is being phased out...
This tax credit will be phased out for each manufacturer once that company has sold 60,000 eligible vehicles. At that point, the tax credit for each company’s vehicles will be gradually reduced over the course 15 months. See the IRS's Summary of the Credit for Qualified Hybrid
source: http://www.energy.gov/taxbreaks.htm accessed January 31, 2010
Tax Credit running out...good time to buy.
$8000 Tax Credit Extended Through April 30, 2010
By: Diane Tuman, Zillow Content Manager November 6, 2009
In what has been urged as a must-have by real estate professionals and builders, the $8000 tax credit for first-time home buyers (previously due to expire Nov. 30), has been extended through April 30, 2010, according to the Associated Press. Not only has it been extended, but it has also been expanded to include more buyers.
Details on Tax Credit Extension:
$8000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
$6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
Tax credit not applicable for those buying homes worth more than $800,000.
Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.
Will the Tax Credit Extension Help?
According to a recent survey Zillow conducted through Harris Interactive, nearly one in five (18%) prospective first-time home buyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, potentially stimulating an additional 334,000 home sales. The caveat here is the survey asked first-time homebuyers if they would purchase a home prior to the end of 2010; this bill will only go through April 2010, not the end of 2010 and it involves a different type of buyer, as well...
source: http://www.zillow.com/blog/8000-tax-credit-extended-through-april-30-2010/2009/11/06/ accessed January 31, 2010.
By: Diane Tuman, Zillow Content Manager November 6, 2009
In what has been urged as a must-have by real estate professionals and builders, the $8000 tax credit for first-time home buyers (previously due to expire Nov. 30), has been extended through April 30, 2010, according to the Associated Press. Not only has it been extended, but it has also been expanded to include more buyers.
Details on Tax Credit Extension:
$8000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
$6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
Tax credit not applicable for those buying homes worth more than $800,000.
Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.
Will the Tax Credit Extension Help?
According to a recent survey Zillow conducted through Harris Interactive, nearly one in five (18%) prospective first-time home buyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, potentially stimulating an additional 334,000 home sales. The caveat here is the survey asked first-time homebuyers if they would purchase a home prior to the end of 2010; this bill will only go through April 2010, not the end of 2010 and it involves a different type of buyer, as well...
source: http://www.zillow.com/blog/8000-tax-credit-extended-through-april-30-2010/2009/11/06/ accessed January 31, 2010.
Tax Credit running out...good time to buy.
$8000 Tax Credit Extended Through April 30, 2010
By: Diane Tuman, Zillow Content Manager November 6, 2009
tweetmeme_source = 'zillow';
tweetmeme_url = 'http://www.zillow.com/blog/8000-tax-credit-extended-through-april-30-2010/2009/11/06/';
In what has been urged as a must-have by real estate professionals and builders, the $8000 tax credit for first-time home buyers (previously due to expire Nov. 30), has been extended through April 30, 2010, according to the Associated Press. Not only has it been extended, but it has also been expanded to include more buyers.
Details on Tax Credit Extension:
$8000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
$6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
Tax credit not applicable for those buying homes worth more than $800,000.
Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.
Will the Tax Credit Extension Help?
According to a recent survey Zillow conducted through Harris Interactive, nearly one in five (18%) prospective first-time home buyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, potentially stimulating an additional 334,000 home sales. The caveat here is the survey asked first-time homebuyers if they would purchase a home prior to the end of 2010; this bill will only go through April 2010, not the end of 2010 and it involves a different type of buyer, as well.
The cost for the tax credit extension is estimated to be $10 billion and opinions vary on whether it will actually help the economy or not. One writer provides 5 reasons the U.S. should stop homebuyer perks.
source: http://www.zillow.com/blog/8000-tax-credit-extended-through-april-30-2010/2009/11/06/ accessed January 31, 2010.
By: Diane Tuman, Zillow Content Manager November 6, 2009
tweetmeme_source = 'zillow';
tweetmeme_url = 'http://www.zillow.com/blog/8000-tax-credit-extended-through-april-30-2010/2009/11/06/';
In what has been urged as a must-have by real estate professionals and builders, the $8000 tax credit for first-time home buyers (previously due to expire Nov. 30), has been extended through April 30, 2010, according to the Associated Press. Not only has it been extended, but it has also been expanded to include more buyers.
Details on Tax Credit Extension:
$8000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
$6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
Tax credit not applicable for those buying homes worth more than $800,000.
Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.
Will the Tax Credit Extension Help?
According to a recent survey Zillow conducted through Harris Interactive, nearly one in five (18%) prospective first-time home buyers said extending the $8,000 tax credit would be the primary influence on their decision to buy a home before the end of 2010, potentially stimulating an additional 334,000 home sales. The caveat here is the survey asked first-time homebuyers if they would purchase a home prior to the end of 2010; this bill will only go through April 2010, not the end of 2010 and it involves a different type of buyer, as well.
The cost for the tax credit extension is estimated to be $10 billion and opinions vary on whether it will actually help the economy or not. One writer provides 5 reasons the U.S. should stop homebuyer perks.
source: http://www.zillow.com/blog/8000-tax-credit-extended-through-april-30-2010/2009/11/06/ accessed January 31, 2010.
Sunday, December 20, 2009
Dealing with Bad Credit
How to Get a Loan With Bad Credit
A lot of people make financial mistakes that affect their credit for the worse. Despite warnings that bad credit will discourage lenders from issuing loans, there are a number of lenders who specialize in loaning money to people with bad credit... Read on to learn how you can get a loan with bad credit...
Step 1: Circumstances
Your options are based on your credit history, and some circumstances may limit you more than others. Circumstances that affect your chances for obtaining a loan include:
Credit score:
A credit score of 580 or lower will severely limit your options.
Multiple credit checks:
Checking your credit score too often can affect your credit rating.
Creditor malfeasance:
If you have recently filed for bankruptcy you may only be able to get a high-interest loan or a restricted credit card.
Recent Credit card and previous loan default on your record...
Step 2: Loan Options
Depending on the severity of your circumstances, you may be eligible for one of two things:
An unsecured personal loan
A restricted credit card.
Both of these options come with very high interest rates, which may only increase your debt. High interest rates will skyrocket your monthly loan payments, which could result in surpassing your credit limit if you are unable to pay more than the minimum due. Surpassing your credit limit means penalty fees, and before you know it, your monthly payments become completely unaffordable and you are right back where you started...analyze the following factors:
...Determine how much you can afford to pay back each month.
Avoid making only minimum payments.
Only borrow what you can afford to pay back quickly.
Step 3: The Application Process
If you are applying through a bank...Be sure you have all of the necessary documents and information handy:
Driver's license
Social Security number
Evidence of assets (i.e. property deeds, vehicle titles)
Income documentation
Be sure to examine the terms of the loan, and...negotiate the interest rate so your monthly payments are affordable. Before signing the application, be sure that all of the terms of the loan are terms you agree to so that there are no surprises later. Again, you will want to examine the expected monthly payments and only borrow what you can afford before you sign anything.
Step 4: Getting a Business Loan With Bad Credit
Many people dismiss the idea of getting a business loan because they feel their credit score will deter them from starting that new business. First and foremost...sit down with a financial adviser and determine your options. If your credit is poor and there is recent evidence of creditor malfeasance on your credit report, you may not be able to obtain a business loan...
Step 5: Getting a Car Loan With Bad Credit
There are a number of bad credit lenders in the United States who are more than happy to extend you the funding you need to get a car. As with any other loan, you will need to present the proper documentation, such as income history and credit score information before you can get approved...
Step 6: Borrowing Outside the Bank
Not everyone has the luxury of friends and family with a little extra money to lend, but this is definitely an option to consider. If you are unable to get a loan from a financial institution, look around at the people in your life and evaluation whether or not one of them may be able to help you out. Consider the following options:
Friends Family Your employer
Step 7: Turning Over a New Leaf
It is important when you meet with the lender that you demonstrate the efforts you are making to turn over a new leaf. One surefire way to do this is to only borrow what you need... You may also want to consider showing them your efforts to clear up any debt you may have accrued that put your credit in poor standing...
Part of turning over a new leaf means doing everything in your power to live within your means, and to make sure you make every effort to repay your loan in a timely manner.
Conclusion
During difficult financial times, there is still hope of getting a loan—even if you have bad credit... Some circumstances, like an extremely low credit score or a recent bankruptcy, may make it difficult for you to get a loan. In some cases, a high-interest credit card with restrictions may be your only option.
When you meet with a lender, bring all of the required documentation with you. After filling out the loan application, be sure to review the terms of the loan so there are no surprises later. Above all, use this opportunity to rebuild your credit. Stay on top of your payments and do everything in your power to get the new loan paid off in a timely manner.
Source: http://www.mahalo.com/how-to-get-a-loan-with-bad-credit accessed December 20, 2009
A lot of people make financial mistakes that affect their credit for the worse. Despite warnings that bad credit will discourage lenders from issuing loans, there are a number of lenders who specialize in loaning money to people with bad credit... Read on to learn how you can get a loan with bad credit...
Step 1: Circumstances
Your options are based on your credit history, and some circumstances may limit you more than others. Circumstances that affect your chances for obtaining a loan include:
Credit score:
A credit score of 580 or lower will severely limit your options.
Multiple credit checks:
Checking your credit score too often can affect your credit rating.
Creditor malfeasance:
If you have recently filed for bankruptcy you may only be able to get a high-interest loan or a restricted credit card.
Recent Credit card and previous loan default on your record...
Step 2: Loan Options
Depending on the severity of your circumstances, you may be eligible for one of two things:
An unsecured personal loan
A restricted credit card.
Both of these options come with very high interest rates, which may only increase your debt. High interest rates will skyrocket your monthly loan payments, which could result in surpassing your credit limit if you are unable to pay more than the minimum due. Surpassing your credit limit means penalty fees, and before you know it, your monthly payments become completely unaffordable and you are right back where you started...analyze the following factors:
...Determine how much you can afford to pay back each month.
Avoid making only minimum payments.
Only borrow what you can afford to pay back quickly.
Step 3: The Application Process
If you are applying through a bank...Be sure you have all of the necessary documents and information handy:
Driver's license
Social Security number
Evidence of assets (i.e. property deeds, vehicle titles)
Income documentation
Be sure to examine the terms of the loan, and...negotiate the interest rate so your monthly payments are affordable. Before signing the application, be sure that all of the terms of the loan are terms you agree to so that there are no surprises later. Again, you will want to examine the expected monthly payments and only borrow what you can afford before you sign anything.
Step 4: Getting a Business Loan With Bad Credit
Many people dismiss the idea of getting a business loan because they feel their credit score will deter them from starting that new business. First and foremost...sit down with a financial adviser and determine your options. If your credit is poor and there is recent evidence of creditor malfeasance on your credit report, you may not be able to obtain a business loan...
Step 5: Getting a Car Loan With Bad Credit
There are a number of bad credit lenders in the United States who are more than happy to extend you the funding you need to get a car. As with any other loan, you will need to present the proper documentation, such as income history and credit score information before you can get approved...
Step 6: Borrowing Outside the Bank
Not everyone has the luxury of friends and family with a little extra money to lend, but this is definitely an option to consider. If you are unable to get a loan from a financial institution, look around at the people in your life and evaluation whether or not one of them may be able to help you out. Consider the following options:
Friends Family Your employer
Step 7: Turning Over a New Leaf
It is important when you meet with the lender that you demonstrate the efforts you are making to turn over a new leaf. One surefire way to do this is to only borrow what you need... You may also want to consider showing them your efforts to clear up any debt you may have accrued that put your credit in poor standing...
Part of turning over a new leaf means doing everything in your power to live within your means, and to make sure you make every effort to repay your loan in a timely manner.
Conclusion
During difficult financial times, there is still hope of getting a loan—even if you have bad credit... Some circumstances, like an extremely low credit score or a recent bankruptcy, may make it difficult for you to get a loan. In some cases, a high-interest credit card with restrictions may be your only option.
When you meet with a lender, bring all of the required documentation with you. After filling out the loan application, be sure to review the terms of the loan so there are no surprises later. Above all, use this opportunity to rebuild your credit. Stay on top of your payments and do everything in your power to get the new loan paid off in a timely manner.
Source: http://www.mahalo.com/how-to-get-a-loan-with-bad-credit accessed December 20, 2009
Thursday, November 12, 2009
Toasty Cocoa
Ingredients
2 cups powdered sugar
1 cup cocoa (Dutch-process preferred)
2 1/2 cups powdered milk
1 teaspoon salt
2 teaspoons cornstarch
1 pinch cayenne pepper, or more to taste
Hot water
Directions
Combine all ingredients in a mixing bowl and incorporate evenly. In a small pot, heat 4 to 6 cups of water.
Fill your mug half full with the mixture and pour in hot water. Stir to combine. Seal the rest in an airtight container, keeps indefinitely in the pantry. This also works great with warm milk.
Source:
http://www.foodnetwork.com/recipes/alton-brown/hot-cocoa-recipe/index.html
Accessed November 12, 2009 @ 10:41 a.m.
2 cups powdered sugar
1 cup cocoa (Dutch-process preferred)
2 1/2 cups powdered milk
1 teaspoon salt
2 teaspoons cornstarch
1 pinch cayenne pepper, or more to taste
Hot water
Directions
Combine all ingredients in a mixing bowl and incorporate evenly. In a small pot, heat 4 to 6 cups of water.
Fill your mug half full with the mixture and pour in hot water. Stir to combine. Seal the rest in an airtight container, keeps indefinitely in the pantry. This also works great with warm milk.
Source:
http://www.foodnetwork.com/recipes/alton-brown/hot-cocoa-recipe/index.html
Accessed November 12, 2009 @ 10:41 a.m.
Wednesday, November 11, 2009
Tax Credit Update
Click on the link below for the latest on the tax credit updates including both extension and expansion:
https://owa.newenglandmoves.com/exchange/Becky.Bonafilia/Inbox/TaxCreditExtensionNE%2011-09.pdf.EML/TaxCreditExtensionNE%2011-09.pdf/C58EA28C-18C0-4a97-9AF2-036E93DDAFB3/TaxCreditExtensionNE%2011-09.pdf?attach=1
I am only a phone call away if you need any clarification on the tax credit.
https://owa.newenglandmoves.com/exchange/Becky.Bonafilia/Inbox/TaxCreditExtensionNE%2011-09.pdf.EML/TaxCreditExtensionNE%2011-09.pdf/C58EA28C-18C0-4a97-9AF2-036E93DDAFB3/TaxCreditExtensionNE%2011-09.pdf?attach=1
I am only a phone call away if you need any clarification on the tax credit.
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