| Monthly
Quote |
“The
worst gift is a fruitcake. There is only one fruitcake in
the entire world, and people keep sending it to each other.”
- Johnny Carson, American entertainer, (1925-2005) |
| Tip
of the Month |
Part
of the fun of the holidays is the spectacle: the glittering
lights, the colorful gifts, the thoughtful cards. Whatever
holiday you celebrate, make your home more festive with these
easy tips:
Hanukkah: Combine cobalt blue items with
silver to make every aspect of your home ready for the festival
of lights. If you’re hosting a meal, purchase cobalt
blue stemware, which is great for company. An elegant cobalt
vase filled with white roses or silver balls or stones makes
a lasting impression. You can place it between a pair of silver
candlesticks or in front of a sunny window to create a stunning
look.
Christmas: You don’t have to cover
your home in lights, snowmen and garlands to jazz up your
holiday. A few simple decorations can transform your home
from normal to Christmassy!
• Purchase and hang some stockings – this item
instantly says “Christmas”!
• Hang a wreath. Available in countless stores and in
styles that range from traditional to kitschy to swanky, a
wreath welcomes guests into your holiday home.
• Play some Christmas music. Although not a decoration,
playing a little “Jingle Bells” and “White
Christmas” gets everyone in the holiday mood.
• Dim your lights and light some candles. Easier to
set up and take down than lights, candles are elegant and
festive. You can choose between a variety of colors, but you
should go with a theme, such as red and green or silver and
gold. You can also throw in one or two strongly scented candles
to add the smells of the holidays to your home, such as baking
cookies or freshly cut Christmas trees.
• Pick up a few poinsettias. Another instant way to
give your home some holiday pick-me-up! Place a few in prominent
places, such as at the foot of a staircase or in the corners
of your dining room.
Kwanzaa: There are a few key items that you
shouldn’t be without when celebrating Kwanzaa: a mkeka
(a place mat usually woven of straw or raffia), a kinara (candleholder),
mishumaa saba (seven candles – one black, three green,
three red), mazao (fruits and vegetables representing crops),
vibunzi (one ear of corn for each child in the household)
and a kikombe cha umoja (communal unity cup). Once you have
these items, decorating for the Kwanzaa celebration is easy.
If you celebrate Thanksgiving and/or Christmas, you can recycle
many items you would use for those holidays. From Thanksgiving,
you can re-use many of the harvest-themed items, such as ears
of corn, squash and gourds (just make sure you omit the cornucopia,
since it is a Western tradition). Since red and green are
also colors of the African flag, you can purchase solid-color
items to use for both holidays, such as napkins, table runners,
placemats and candles. To decorate your Kwanzaa table, first
put a red or green tablecloth on the table to protect your
wood surface. Center the mkeka on top of that as either a
table runner or a square table topper. Place a kinara as your
centerpiece, with the black candle in the middle, the three
red candles on the left and the three green candles on the
right (you can also alternate candles if you wish). Place
baskets and wooden bowls of fruit and vegetables around the
kinara and arrange your ears of corn around the bowls and
baskets. From there, you can get creative, whether it’s
hanging the African flag in the room or some African-themed
posters.
Source: Holiday Decorating for Dummies by Kelley Taylor, Wiley
Publishing, Inc., 2003.
|
|
Avoid
Mortgage Mayhem
 The
current mortgage atmosphere can mean trouble for homeowners
and home buyers alike: homeowners may face unmanageable
payments when interest rates adjust and home buyers
are having trouble obtaining loans. We’ll give
you tips for avoiding a messy mortgage situation, wherever
you fall.
Gone are the days of low payments and
easily obtained mortgages. The mortgage industry is
squeezing both homeowners and home buyers, but there
are ways to stay afloat, according to an article appearing
on MSN.com recently.
Tips for Homeowners
If you are facing foreclosure or a steep
rise in your interest rate, consider this advice:
• Know what your home
is worth. Falling home prices provide an additional
complication to homeowners. Selling probably isn’t
your first choice, but you should know whether your
home could be sold for enough money to pay off your
loan and cover closing costs. One way to do this is
to ask a real estate agent for a free estimate, making
sure to mention that you have no immediate plans to
put your house on the market.
• Think about refinancing. If
you have poor credit, this may not be the best option
since refinancing may not be possible or may carry hefty
fees. If you are able to refinance, get an estimate
in writing. You can also consider whether the offer
is worthwhile by shopping around.
• Communicate with your lender.
If you find yourself in a pinch, it may seem like your
lender is the enemy. Don’t think of it that way,
since “the longer you wait, the fewer options
you have for a workout,” says Ren Essene of Harvard
University’s Joint Center for Housing Studies.
You should keep detailed records of when and whom you
talked to.
• Discuss a loan-modification deal.
Speak to your lender’s “loss mitigation”
department if you find yourself heading toward default.
Someone in this area generally has authority to set
new terms in your loan to prevent foreclosure, but “lenders
will often ask for good-faith money toward a modification,”
says Michele Rodriguez Taylor of the National Training
and Information Center, a nonprofit Chicago organization
that partners with several lenders to prevent foreclosures.
So hoard cash if you can.
• Ask for help. Some nonprofit
groups can provide you with free advice on avoiding
foreclosure or can work with your lender directly. Try
the nationwide HOPE Hotline (888-995-4673), which is
run by the Homeownership Preservation Foundation and
offers counseling to struggling homeowners. It can also
provide referrals to local organizations that can act
on your behalf. You should also check out what your
state is doing to help homeowners, as some have set
up rescue funds. Try the federal Department of Housing
and Urban Development site for links to community groups
and other aid organizations (hud.gov).
• Beware of scams. There are
plenty of people out there looking to prey on vulnerable
homeowners. Some might call you out of the blue and
ask you to sign the deed over to them in exchange for
paying off your mortgage. Others may ask for a lot of
money to help you stay in your home. Watch out for anything
that sounds too good to be true.
• Seriously consider selling.
“Consumers will do everything to keep their home,
even if it’s irrational,” says Essene. You
may be better off if you sell sooner rather than later.
• Choose the best of the bad options.
An alternative to foreclosure may include a “deed
in lieu of foreclosure,” which is transfer of
ownership of your home to the lender. This prevents
the dark mark on your credit for years to come. Your
lender may also be willing to let you sell the home
for a price that won’t fully pay off the loan.
Tips for Borrowers
You won’t be able to find the
too-good-to-be-true deals of years past if you are shopping
for a mortgage, but there are loans out there with new
terms and conditions. Down payments are a virtual necessity,
as are lengthy documentations of credit-worthiness.
If you are a buyer in today’s market, consider
these tips:
• Be educated.
Check out hud.gov for tips on buying a home. There are
also plenty of community-action groups that offer free
buyer-education seminars.
• Improve your credit score.
Know your credit score before you apply for a loan.
If it is below 620, you will have very few options and
will need to bring it up before you apply. Closing little-used
credit cards and paying off debt will help.
• Shop around. Don’t settle
for the first loan that comes your way. Know your options
and find the best fit for your needs.
• Be realistic. Home prices are
trending downward, so don’t count on an immediate
rise in value to outpace your interest costs. Be realistic
about what you can afford without taking a gamble.
<<
Back to Home
|
|
|
