PMI is additional insurance designed to protect the lender from individuals who default on their loan and who have less than 20 percent equity in their property.  Mortgage experts say that home buyers who make small down payments ar more likely to default on their home loans that those who put down the traditional 20 percent of the purchase price.  Lenders require those buyers to purchase PMI to insure the lender against the extra risk of foreclosure.

Most states have regulations prohibiting lenders from making a loan in excess of 80 percent of the purchase price without PMI.  The difference between putting down 20 percent and 15 percent or even 1 percent, wouldn’t see to make a substantial difference on the surface but the MBA says that 20 percent provides a necessary cushion for both home buyers and lenders.

For the latest property listings in North Georgia Visit http://www.buyblueridgegeorgia.com

1. What is Asbestos?

2. How Can I Identify Asbestos?

Asbestos has no odor and can not be identified by visual observation. There are some common products that were produced over the years that may contain asbestos (such as 9″x9″ floor tile which contains asbestos 95% of the time). Visual inspection can not determine if there are asbestos fibers in it. Asbestos fibers are very small and some times invisible to the human eye. As a result, microscopic analysis is the only way to determine if a product contains or does not contain asbestos. Polarized Light Microscopy (PLM) and Scanning Electron Microscopy (SEM) are the only two approved methods of analysis to determine asbestos content in a material. PLM is the US EPA accepted method. In addition, the lab performing the analysis must be an approved laboratory and participate in the National Voluntary Lab Accreditation Program (NVLAP), a certification program that evaluates analysts in determining the type and quantity of asbestos in a material.

Sampling of suspect asbestos materials must be performed by an inspector accredited by the State of North Carolina. Inspectors are trained to look for certain materials in buildings that may contain asbestos and are also trained in proper sampling techniques.

3. Does Asbestos have to be removed?

At present there is no requirement to remove asbestos materials from commercial and industrial buildings unless the identified asbestos material has deteriorated to the point that it may become air-borne and, therefore, a possible health hazard. Even in a deteriorated condition, asbestos does not have to be removed if it can be repaired or enclosed. Depending on the type of asbestos that is deteriorating (flooring, pipe insulation, etc.) repairs may include wrapping asbestos pipe insulation in polyethylene plastic, or covering flooring material with a non-asbestos flooring material. Some people prefer removal as an option, but repairing or enclosing the asbestos is usually less expensive than removal. If removal is the option of choice, caution must be used by the owner in deciding who will remove the asbestos material.

Friable asbestos is the more dangerous and the most regulated type of asbestos. Removal of friable asbestos should be performed by an asbestos contractor with a Supervisor and workers accredited by the your state.

Non-friable asbestos is asbestos where the fibers can not easily be made air-borne. An asbestos release will not result simply from touching non-friable asbestos such as floor tile. Non-friable asbestos must be beaten or broken (such as floor tile), cut or sawed (as in sheet linoleum), or sanded (as in the mastic (glue) under flooring). Non-friable asbestos can become friable and a hazard if handled improperly, but normally an asbestos contractor is not required to remove this material unless it is already in a deteriorated condition or will become friable during removal.

Non-friable asbestos may be safely removed by a homeowner or non-asbestos contractor if handled properly. This includes no sawing, cutting, or beating apart the material or using any power tools to remove it. Precautions should be taken when removing non-friable material such as keeping breakage to a minimum and keeping the material wet when disturbing it.

Larger, more remote tracts offer opportunities for hunting, but even an acre or less can be enhanced by the presence of wildlife. The aesthetic appeal of nature’s creatures can be subtle or dramatic. A glimpse of a deer browsing at dawn, the cheerful melody of songbirds, butterflies flitting among the flowers, rare animal discoveries - all these events can add greatly to the overall life experience. 

A wildlife haven on your land can be a highly rewarding experience. Various county, state and federal agencies provide information and other assistance to landowners interested in establishing or improving habitat for wildlife.

Water on the property greatly expands the possibilities for enjoying “feral friends.” A fish-stocked pond, flocks of waterfowl, bullfrog voices filling a summer night - strangely reassuring, almost magical.

For the Latest Land Listings in Blue Ridge Ga Real Estate, Ellijay Ga or Blairsville visit http://www.quicklistingalerts.com

1. Expect derogatory credit. In the vast majority of short sale situations the seller maintains a satisfactory credit rating however, derogatory credit is a possibility.

2. Expect tax liability. A new IRS law is currently pending which will require the issuance of a 1099C for the difference between the loan amount and the pay-off amount. For example, a property with a loan amount of $300,000 short sells for $240,000. Theoretically, the lender can issue the seller a 1099C for $60,000 with applicable taxes due to the iRS.

In reality only about one half of the banks issue a 1099C because there are usually several parties involved. None of the parties involved (lender/bank. Fannie Mae/Freddy Mac or mortgage insurance) are willing to accept the responsibility to issue the 1099.

There are several davantages to the short sale. The seller can reduce his/her debt, avoid foreclosure, maintain credit worthiness and most importantly, get out from under a mortage.

However, there are also some disadvantages. Bad credit and tax liabilities can occur. In addition, any short sale from a VA loan requires payment in full (for the full amount) or the seller loses all veteran benefits including death, educational and medical until the balance is paid.

The key decision makers in the short sale process include the lender, investor and the mortgage insurer (MI/PMI). The lender (sometimes also the “investor”) typically gathers all the information required to consider a short sale package. The lender will then calculate what the actual loss is and then either approve or disapprove the package. The final decision maker is the mortgage insurer. MI/PMI will only approve a package that has been signed off by the investor and require the most comprehensive support information. The process takes some time and can make a short sale transaction a very slow process.

Resource: http://activerain.com/blogsview/102544/The-Short-Sale-Part

Blue Ridge Ga Real Estate Listing Alerts at http://www.quicklistingalerts.com

If you think there may be lead-based paint in or around your home, call the National Lead Information Center at 1-800-LEAD-FYI to learn what you can do about it. Or look in the yellow pages under “lead” for a qualified professional who can remove, seal, or enclose the lead-based paint hazards.

The Environmental Protection Agency recommends taking these 5 precautions:

1. Clean up all peeled off paint chips with a wet towel or mop.

2. Wash commonly used household surfaces weekly with a sponge or mop, warm water, and an all-purpose cleaner.

3. Wash sponges and mops thoroughly after they’re used on lead-based paint.

4. Make sure that children keep their hands clean, especially at meals, naps, and bedtimes.

5. Clean play areas, toys, and pacifiers regularly. Feed your children a diet low in fat and high in iron and calcium, which will slow their bodily absorption of lead.

Follow these 6 recommendations to establish a mouse-free zone:

1. Check your home every spring for points where mice could enter, such as the edges of doors and windows; holes where pipes and utility lines enter; gaps at the roof and eaves; and ventilation openings for exhaust fans, air conditioning units and dryers.

2. Cover any openings with a rust resistant fine wire mesh because a mouse can enter a hole small enough for a pencil.

3. Cover garbage cans with tight fittings lids.

4. Pick up the fallen fruit and nuts from your trees every day.

5. Keep wood piles away from the house.

6. And, last but not least, keeping a good cat on the premises might help.

For Listing Alerts by Email in Blue Ridge, Ellijay, Blairsville, Jasper and Young Harris Georgia visit http://www.quicklistingalerts.com

Relocating is an exciting endeavor for many reasons. You may relocate for a better job, a new opportunity like a bigger living space, or even a new life. You might be really looking forward to moving to a new place, meeting new people, and new experiences. But if it is not carefully planned, relocating can be a difficult and stressful experience.

Here are 7 tips to make your relocation an overall great experience:

1. Make sure you hire a reputable moving company. If the company is not competent enough, you might end up in absolute chaos. Also work out the costs and payment method upfront. You don’t want to have the moving company hold your belongings hostage - something that they’ve been known to do when payment arrangements go awry.

2. Make sure you do your homework. Before deciding on an area to live in, make sure that the schools are good (if you have children) and that your spouse will also be able to secure employment. It is not a bad idea to look at future land use plans either, to make sure there won’t be any surprise construction around your new home.

3. Consider the change in the cost of living factor. You want to be sure that you can afford to live in the new area, and that your new job will pay you accordingly.

4. Be mentally prepared. Moving to a new place, and leaving friends and family behind can be very stressful. Relocation can be very difficult, especially on children who have to make new friends at a new school. Sometimes it can be best to relocate during Spring Break so the children have time to meet and establish friends before Summer.

5. When looking for a home in the new area find an experienced Realtor who really knows the entire area. You may have been told about one town but someone with a broad knowledge of the area might be able to show you areas that better match your affordability and special requirements. There are various things to consider before choosing a home - cost, location, facilities, proximity to shopping, transportation and the like.

6. Make a checklist of all the things you need to do and also of all the things you need to take with you. Don’t forget things like establishing doctors and other professionals before you move in case any emergency comes up, and establishing a local bank for merchants who only accept local checks.

7. If you are moving out with your pet, make sure it gets a comprehensive medical check-up by the vet. Make sure you bring all the necessities in terms of pet food, pet medicines, collar, leash, kennel and the like. Also ensure that the pet has an identification tag with your new telephone number or your cell number if it isn’t going to change for a while. Planning certain things in life makes them go much smoother. With these tips in mind your relocation should be a breeze.

Pam Ingram has resided in the Santa Clarita Valley real estate market for over 30 years. Her local knowledge, experience, and contacts are invaluable in finding your dream home or a buyer for your current property. Looking for a Santa Clarita realtor? Call Pam for the scoop on the local neighborhoods and other useful information.

For the Latest Listings by Email visit http://www.quicklistingalerts.com