Stop Foreclosure

We hear about mortgage fraud and title fraud but what in the world is Foreclosure Fraud. Foreclosure Fraud is an attempt by unscrupulous individuals or companies to deceive homeowners of distressed properties. Homeowners facing foreclosure are at their most vulnerable state emotionally and financially. These unscrupulous predators know that this is the time to take advantage of the homeowners. They show up as the knight in shining armor with the rescue plan. They use many different methods; however they always have one of two goals in mind…To get the homeowner to part with some money or to get the homeowner to sign over some form of ownership in the property. Rather than calling it Foreclosure Fraud perhaps we should just call it A Foreclosure Scam.

Here are some Red Flags to help homeowners identify potential Foreclosure Scam Companies or Individuals:

•    Request Money Upfront – Reputable organizations that specialize in helping homeowners prevent foreclosure Do Not request money upfront.
•    Transfer Financial Authority – Another ploy these predators use is to have homeowners sign a “Power of Attorney” where the homeowner appoints them to act on the owners behalf. This can have devastating results.
•    Guarantee To Stop Foreclosure – No third party company or individual can make this guarantee. The only company that can guarantee stopping a foreclosure is the actual mortgage company that holds the loan. This also applies to a guarantee of a loan modification.
•    Advise Stop Paying The Mortgage – Some of these predators advise homeowners to stop paying the mortgage because it will strengthen the homeowners position in the lenders eyes. All they want you to do is skip a payment or two and just give them that money to represent you. If this recommendation is made to you, end the conversation and ask them to leave!
•    Assign The Deed – Never transfer ownership in your home to someone who does not have a financial stake in it. If a company wants you to transfer ownership tell them they will be added to the deed when they are approved by your mortgage company to go on the mortgage and complete the required documents at the closing.
•    Official Government Approved Organization – Really… Confirm how legitimate they are with the Better Business Bureau or Governor’s Office of Consumer Affairs. Most government websites list their approved entities and make it very easy for you to verify
•    Supply Information Online – Before releasing any personal information or financial information online or over the phone make sure you know who you are dealing with.

Do you feel that you may now be a little better informed about what to look for from these scammers? I hope so. If you are having difficulty with meeting your monthly mortgage obligation talk to your Mortgage Company. If you feel that your best option will be to sell your home and you may need to utilize a short sale, give me a call and we can discuss your options.

The Georgia Water Stewardship Act

The Georgia Water Stewardship Act signed by Governor Sonny Perdue went into effect in June of 2010. The bill allows daily outdoor watering for purposes of planting, growing, managing, or maintaining ground cover, trees, shrubs, or other plants from 4:00pm – 10:00am.

All other outdoor water usage like washing cars and pressure washing is to follow the watering schedule based on street address shown below:

Monday, Wednesday and Saturday – Even Addresses can Water

Tuesday, Thursday and Sunday – Odd Addresses can Water

Friday – No other Outdoor Watering Is Permitted

Frequently asked questions about outdoor water use:

I heard I can water my yard every day. Is that true?
Yes. Citizens in Georgia can now water any day of the week, regardless of your address, between 4:00pm and 10:00am.

Can I also wash my car or pressure wash my house any day?
No. The new state law only relates to landscape uses. The odd/even schedule remains in place for all other outdoor uses.

Are parks included in the new schedule?
Sports fields and parks are exempt from the hourly restrictions. These areas may be watered any time or day.

If I put in new landscape, do I have to water between 4:00pm and 10:00am?
No. Newly installed landscape is also exempt from the hourly restrictions for the first 30 days following installation.

What about drip irrigation?
Drip irrigation is completely exempt from the outdoor rules. It may be used any time or day.

What exemptions exist to the new hourly restrictions?

•    Commercial Agriculture
•    Alternative sources of water (grey water, rain water, condensate, etc.)
•    Irrigation of food gardens
•    Irrigation of newly installed or reseeded turf for the first 30 days following installation
•    Drip irrigation or soaker hoses
•    Water from a private well
•    Irrigation of plants for sale
•    Irrigation of athletic fields, golf courses, or public recreational turf
•    Installation and maintenance of irrigation systems
•    Hydro seeding

Are professional pressure washers hired to wash my house subject to restrictions based on my address?
No. Commercial businesses are exempt from day of the week restrictions.

Can I have a charity car wash on any day regardless of the address?
No. Unfortunately, charity car washes, like at home car washes, are subject to the odd/even schedule. This is determined by the address of the facility hosting the car wash. Partnering with a professional car wash is exempt from the odd/even schedule due to the company’s professional exemption.

For more information on exemptions and forms to submit violations, visit the Gwinnett County Department of Water Resources’ water conservation webpage through www.gwinnettcounty.com.

More information can be found on the Gwinnett County Department of Water Resources‘ water conservation webpage.

Spring Is Here

Now that we have been through the time change and the days are longer, we now have time to get some of those spring home projects done. Hopefully this list will help you organize the projects that you need to do and of course if you think of any that have been left out let me know via the comments section below.

First we should look at regular maintenance items. Please do not attempt to perform any of the mentioned items that you are not comfortable doing. If you need the names of qualified vendors to assist you I will be happy to provide you with their contact information.

•    Check for loose or leaking gutters and downspouts
•    Check around windows and doors for any cracked caulking
•    Look up at the roof and check to see if any shingles are loose or buckling
•    Use binoculars to examine flashing around plumbing vents and skylights
•    Examine the chimney and hire a professional chimney sweep if necessary
•    Inspect concrete slab for cracking. Fill cracks with a suitable filler
•    Check your hose bibs for any freeze damage
•    If you have firewood close to the home it’s time to move it away from the house
•    Hire a qualified HVAC Contractor to service the heat and air conditioning unit
•    Change your HVAC Filters (this should be done monthly)

Of course you will also want to make sure that your lawn equipment is in good working order. Nothing is more frustrating than using all your energy to try and start a piece of equipment only to load it up and take it to the shop.

•    Mower – Change the spark plug, change the oil and have the blade sharpened
•    Gas Powered String Trimmer – Change the spark plug and install new line
•    Gas Powered Edger – Change the spark plug and sharpen or replace the blade
•    Electric Edger – Sharpen or replace the blade
•    Garden Hose – Check for dry rot. Replace if necessary.

No matter where you live in the Greater Atlanta area, now that you have everything ready for spring there is one last project that needs to be done. A good pressure washing of your home will not only provide a clean fresh look but it will help get rid of all that nasty pollen!

Are you ready to get started on your spring projects? Let me know what you think.

Yes its that time of the year again…Spring Forward. Check out the Top Ten Things to do for the Time Change. Scroll down on the right side of the card for the top ten list.

It’s that magical time of the year. You guessed it; magically the sun will begin to come up an hour later and will set an hour later than in the last few days. Yes it only comes twice annually and the spring forward portion will be arriving this Saturday Evening. So here we go, it’s time for your friendly semi-annual time change announcement. However for this one I have decided to add a bit of a twist. How about the top ten list of things to do for the time change?

1.    Set your clock forward one hour prior to going to bed Saturday Evening
2.    Change the batteries in your Smoke detector
3.    Change the batteries in your Carbon Monoxide detector
4.    Change the filters in your HVAC System
5.    Vacuum the vents and returns on your HVAC system
6.    Check for the expiration date on your fire extinguisher
7.    Replace the baking soda box in your refrigerator
8.    Verify the time and date settings on your computer and fax machine
9.    Call 10 neighbors and remind them of items 1 – 8
10.     Visit one elderly neighbor and help them with items 1 – 8

So there you have it, this year’s “Spring Forward” top ten things to do list. Have fun with it and help your neighbors.

Did you think the holidays are over? If you closed on your new home last year then not quite yet. If you closed on your new home in the last calendar year, or perhaps you haven’t filed yet, you have one more present. That’s right, you guessed it, you get to file for your Georgia Homestead Exemption and save a little money.

So you closed on your new home last year. Congratulations! If you purchased new construction you get to be the first owner to file for the Homestead Exemption. If you purchased a resale property, you probably enjoyed the previous owners Homestead Exemption but now you need to file for yourself. The process is very easy and most counties in the Greater Atlanta area have everything you need online. This is one of the few tax reducing benefits that remain for us homeowners. Sorry I said the “T” word.

So if you haven’t already filed for your Homestead Exemption, get busy it will save you some $$$.

This afternoon the Gwinnett Board of Commissioners approved resolution 2009-0124. The resolution was introduced by Commissioner Kenerly and, when read, called for Gwinnett County to dissolve the contract with Gwinnett Clean and Beautiful Services. When commissioner Kenerly spoke he referred to just Gwinnett Clean and Beautiful. I don’t know if this represents any kind of legal issue or not but thought I would make everyone aware of it. You can see the video of the entire Board Meeting, the reading and vote on resolution 2009-0124 (near the bottom of the menu) and comments from the audience (also near the bottom of the menu). A lot of employees from the approved vendors spoke as well as 2 really cool guys.

It was good to finally meet Don S of Trash Gwinnett and Richard Appleby, Chairman, of Constitutional Committee of Georgia who were both in attendance along with many employees of Waste Pro and Advanced Disposal LLC.

In closing remarks Chairman Beaudreau asked that if anyone was interested in serving on a “Blue Ribbon Commission” regarding the Solid Waste Disposal in Gwinnett County they should call his office at 770-822-7003. He did ask that residents volunteer to address and help solve the problem, not just volunteer to complain. Personally I have called and volunteered and would welcome the Gwinnett County readers of this blog to join in. Together we can accomplish so much.

In Part One of this series we examined what a reverse mortgage is, what you need to do to qualify for one, the code of ethics a respectable lender will adhere too and being able to use a reverse mortgage to purchase a home. In this article let’s dig a bit deeper and examine how to use a reverse mortgage to your best advantage.

Questions to Ask Yourself

Having reached the age requirements to qualify for a reverse mortgage and coming close to retirement time you need to look at your financial health and determine what kind of impact retirement will have on your lifestyle. Will you have a retirement income from your employer? Will you be funding your retirement totally on your own from your investments? How will Social Security benefits fit into your future? Do you have a combination of these possibilities? The main question becomes, when I retire will I have the funds that I need to maintain my lifestyle? A reverse mortgage can help with the funds that you may need!

Ways To Use A Reverse Mortgage

Let’s examine a few of the possibilities for ways to put a reverse mortgage to work for you. One of the most common advantages to a reverse mortgage is providing the recipient with a supplemental monthly income. Recalling from Part One, one of the ways for you to receive you funds from your reverse mortgage is via monthly payments to you from the mortgage company. These can be set up as a fixed amount that is paid to you monthly for as long as you live in the house. So if retirement was not looking like it would be in your future any time soon due to monthly financial requirements a reverse mortgage may well solve your problem. Make certain to talk with a qualified Atlanta Reverse Mortgage lender along with your tax advisor or financial planner to determine what is best in your exact circumstances.

Let’s say that you have retired and your combination of employer funded benefits, your investments and your social security benefits provide you with ample funds to sustain your lifestyle but you have always wanted that vacation home at the beach or in the mountains. In order to obtain it prior to reverse mortgages you had to either pay cash from your funds or take out a loan that required a monthly payment. Consider that now you may be able to obtain your vacation home utilizing a reverse mortgage. By accessing the equity of your primary residence with a reverse mortgage you may be able to purchase your vacation home for cash while not having a payment on your current home. How about that, 2 homes with no payments is a real possibility.

Perhaps a vacation home is not for you. Well that’s OK also. Maybe you just want to modernize and update your current home. Finally having that dream kitchen with granite counter tops and replacing those avocado green or harvest gold appliances with stainless steel ones is what floats your boat. Guess what that is OK. Maybe you have decided that you want to help pay for your grandchildren’s education. As a parent that went through that process several years ago, I can tell you it would be greatly appreciated. Perhaps you just want that new luxury car that has been crying out to you for years. Well you could do that too. This is in no way a complete list but I think you can see there are limitless ways for you to put a reverse mortgage to work for you.

Stay tuned over the next week or so for additional articles in this series about Reverse Mortgages in Atlanta.

Each year about this time Remodeling Magazine comes out with one of the most interesting articles of the year. The Cost vs. Value Report shows what the expected percentage return on investment should be for various remodeling projects and is divided by region of the country. As we have all learned real estate and related projects are very local. Even though home values have declined in many areas of the country, some remodeling projects have held their value very well and are a possible way for homeowners to add value.

Let’s examine several common remodeling projects and look at what area of the country has the best expected return, the worst expected return and how Atlanta compares.

1. Wood Deck Addition – The National Average for recouped value is 81.8%. The Best return is in the Pacific states with a 97.1% return while the North Central area shows only a 68.9% return. In the Atlanta area you could expect an 83.9% return on your investment.
2. Basement Finishing – The National Average for recouped value is 72.9%. The best return is in the South Central states with an 87.9% return while the New England states only show a 56.7% return. In the Atlanta area you could expect a 78.1% return on your investment.
3. Kitchen Remodeling (Midrange) – The National Average for recouped value is 79.5%. The best return is in the Pacific states with a 95.5% return while the North Central area shows only a 69.1% return. In the Atlanta area you could expect 79.9% return on your investment.
4. Window Replacement – Windows can be replaced either with wood or vinyl windows. The wood windows are a bit more expensive and therefore yield a slightly smaller return on investment. For the sake of this example we will look at wood window returns. The National Average for recouped value is 77.7%. The best return is in the Pacific states with a 93.9% while the North Central area shows only a 67.3% return. In the Atlanta area you could expect a 78.9% return on your investment.
5. Siding Replacement – With the various types of siding available in today’s market and the relative costs for each, for this example we will look at fiber cement siding. The National Average for recouped value is 86.7%. The Best return is in the Pacific states with a 96.2% return while North Central area shows only a 79.3% return. In the Atlanta area you could expect a 91% return on your investment.

This is by no means a complete list of all the projects examined but it does provide a good cross section for evaluation. For the most part I think we can see that in the Atlanta Real Estate Market remodeling projects are returning percentages above the National Average. This is due primarily to the favorable labor rates in the area along with ample supplies of building materials. If you have the skills and are able to provide the labor yourself your percentage of return on investment will skyrocket past these examples.

Are You Thinking of Selling

For those who are thinking of putting your home on the market, consult with a professional fulltime Atlanta REALTOR prior to undertaking any remodeling project. Get the ins and outs of what to expect for a return on your investment along with what projects may be required to get your home up to par with other homes in your neighborhood or maybe the best plan is to do nothing. An unbiased opinion may save you thousands of dollars.

Thanksgiving Day is almost here and the beginning of the holiday season has started. I thought I would share some of my favorite things to do on Thanksgiving.

Smoked Turkey

My first thing actually begins the day before Thanksgiving. For over 33 years I have smoked a turkey for the feast. Several years ago my nephew decided he wanted to fry a turkey which we all agreed would be fine, I would just smoke a smaller one and there would still be plenty to go around. I must admit the fried turkey was very good with the Thanksgiving Day meal but left a bit to be desired for the much anticipated turkey sandwiches. My nephew still fries a turkey but I am back to smoking the larger turkey, somewhere in the 20 plus pound range. This years turkey is a 25 pounder and will take about 15 hours on the smoker. It will smoke over a fire of Mesquite chunks while being steamed by a mixture of water and white wine to keep it totally moist.

Thanksgiving Tradition

For as long as I can remember our family has had a piece of poster board or paper with the alphabet listed on it. Each person attending the festivities write something that they are thankful for next to the corresponding letter of the alphabet. The object is to fill up the page using each letter as the beginning letter of the thing you are thankful for. It’s entertaining to see what the children list as their items. They are more grown up than we sometimes give them credit for. Give this a try, I think you will like it.

Parade and Football

What Thanksgiving would be complete without the Macy’s Thanksgiving Day Parade and a good old football game. Nuff said about that.

Finish Off the Day

If you read my post yesterday there is no doubt what we will be doing tonight. We will be leaving for Lenox Square at about 5 o’clock. We will enjoy the pre show and the full entertainment of the Lighting of the Great Tree atop Macy’s. This has become a tradition for my wife and I. The temperature may be a little chilly but the show warms your heart, especially when the tree is lit. Come on down and join us and the other probably 100,000 people who will be there, hopefully you will enjoy it too.

HAPPY THANKSGIVING EVERYONE!