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Make sure to plan accordingly during a blizzard to prevent damage to one''s home

admin — Wed, 10 Feb 2010 21:25:20 +0000

After a relatively tame January, winter weather seems to be back in full force for February as the mid-Atlantic and East Coast braces for its second blizzard in less than one week.

Because of that, the Restoration Industry Association has compiled a few tips that may be able to prevent houses from being seriously damaged by the winter weather.

One of the hardest things to guard a house against during a snowstorm is water damage caused by liquid that seeps into walls or ceilings and then either freezes or weakens the structure. By creating barriers of packed snow around basement windows and shoveling snow away from the home’’s walls, the risk of leaks can diminish greatly.

Additionally, when leaving a home following a storm. The RIA recommends leaving the heat on so the pipes don”t freeze and run the risk of bursting. Making sure areas around the pipes connected to sinks are not chilled is also recommended.

For homeowners who suffer through rough winter weather this season, there may be damage done to a house that requires urgent attention and repair in order for a family to safely live in it. If this is the case, but available finances are at a minimum, taking out a payday loan may help cover some of the costs.

Flood damage following snowstorms poses a threat to many during winter months

admin — Tue, 29 Dec 2009 20:41:07 +0000

As nor’easters and blizzards begin to become more common during the winter months, melting snow and ice that can’t find its way into clogged storm drains will result in an increased amount of flooding that homeowners may have to deal with.

Emergency costs associated with seasonal flooding can become extremely pricey for those affected and require thousands of dollars in repairs from homeowners with inadequate home insurance plans.

According to FloodSmart.gov, only one inch of floodwater in a house can lead to $7,800 in losses, with more than half of the expenses covering the replacement of carpets, flooring, and baseboard moldings.

The National Weather Service recently issued flood warnings in Nebraska, Illinois, Indiana, and Michigan in the wake of winter storms that dropped up to 24 inches of snow in some areas, according to the Associated Press.

The report also singled out a number of flood-related situations that had started following a snowstorm, such as a woman and her teenage daughter needing to be rescued from a swollen creek after their SUV went off the road.

For those who find themselves in financial binds as they deal with emergency home or car repairs caused by a seasonal flood, cash advances may be able to provide financial assistance without having to risk incurring additional credit card debt.

Recovery from natural disasters easier with insurance coverage

admin — Tue, 29 Dec 2009 20:37:29 +0000

Whether it is to put together a down payment for home insurance coverage or to scrape together recovery costs after being hit by a natural disaster, money from payday loans can be an important factor in the recovery process following a natural disaster.

According to the new Annual Global Climate and Catastrophe report released last week, natural disaster events that occurred all over the world in 2009 caused $20 billion in damages that were covered by insurers.

Concerning the U.S., the report found that approximately 1,109 tornadoes touched down across the country in 2009. Additionally, nine storms developed in the Atlantic Ocean throughout the year and threatened the U.S., even though none of them ever came ashore.

“There is still a high prevalence of natural catastrophes throughout the world, and that the resulting insured and economic losses are extremely costly to global insurers, governments and the general public,” said Byron Ehrhart, the CEO of Aeon Benfield.

“Insurers and reinsurers need to become even more aware of their risks and exposures in catastrophe-prone areas, as well as reviewing the latest research into natural perils to try to stay ahead of the game.”

The report concluded that 222 separate catastrophic events occurred in 2009, up from 213 events in 2008.

Payday loans may help cover costs associated with removing dangerous Chinese drywall

admin — Tue, 29 Dec 2009 15:00:00 +0000

A new assistance program for families stricken with homes that contain corrosive Chinese drywall may not properly help those who are already in debt recover fully from construction costs they may incur.

According to the Wall Street Journal, more than 2,360 homeowners in 35 different states and Washington D.C. have been found to have the corrosive drywall in their homes. A majority of the homes found with the drywall were found in Florida, Louisiana, and Virginia.

Under the proposed HUD homeowner assistance plan, special forbearances would be approved for qualifying FHA-insured homeowners that would either suspend or reduce the mortgage payments owed for a period of time to allow the homeowner a chance to recover from the costs of replacing the drywall.

The Journal added that the cost estimates for drywall replacement can range from $80,000 to $100,000.

"We want to remove additional pressures for these families as they find solutions to allow them to return to a safe, decent and sanitary home," said FHA Commissioner David Stevens.

Following the suspended payment period, borrowers would be given time to make their normal mortgage payments before beginning their repayment period.

While the HUD plan will likely help many homeowners, it may not be enough for affected families already facing debt before dealing with drywall replacement costs. While unable to cover all costs associated with it, such families may be able to benefit from payday loans to ease their financial burdens during such difficult times.

Prevent your home from being at risk for a fire this holiday season

admin — Fri, 18 Dec 2009 22:02:30 +0000

With the emergence of cold winter temperatures and the addition of holiday decorations to many homes, the holiday season has become somewhat connected with an increase in the amount of fire emergencies that occur in households.

In order to minimize the fire risks in one’’s home during the holiday season, MetLife suggests that annual inspections of all fireplaces take place yearly, and that a tight-fitting screen be put in front of it to prevent any embers from escaping and hitting any flammable objects.

Additionally, the insurance company stressed the dangers of using a space heater and urged that they never be placed near any flammable objects or a room where it may be touched by water.

"Fire departments and organizations such as the American Red Cross are at their busiest during the winter," said Mike Convery, vice president and chief claim officer for MetLife Auto & Home. "Alternative heating devices, such as a space heater or wood stove, can help a household save money, but they increase the likelihood of a home fire occurring, if used improperly."

For any families that have to deal with the unfortunate prospect of dealing with a fire and the damage it brings – especially if they are not covered by home or renters insurance plans – essential repairs may be needed to fix structural damage that may not be affordable to those with limited funding.

In such a case, payday loans may provide some financial leeway to help get the repairs done.

Homeowners'' insurance essential to cover tree damages during winter storm season

admin — Fri, 18 Dec 2009 20:59:43 +0000

With the arrival of winter also comes the inevitable coming of winter storms as well. In addition to snow and ice, winter storms are also notorious for downing many trees in residential areas that can cause damage that must be paid for somehow.

According to the Insurance Information Institute, damages that occur on one’’s property because of a fallen tree are covered in most cases by a home insurance plan.

However, the situation can become prickly when it comes to which insurance plan must cover damage from a fallen tree that is rooted on one property but falls into another. While the general lay of the law dictates that the location of the fallen tree is irrelevant and that the damage victim should simply file a claim with their own company, such filings may be called into dispute.

In some cases, the institute noted that insurance companies may launch a subrogation process in which they attempt to collect money from the neighbor’’s insurance provider.

"This sometimes occurs if the tree was in poor health or not properly maintained. If the insurer is successful, you may be reimbursed for the deductible," Salvatore explained.

However, such a process is irrelevant for families who leave themselves vulnerable to significant expenses if they have not maintained homeowners” insurance policies to protect their home. If gathering a payment to maintain a policy proves to be difficult, taking out a payday loan may be able to alleviate a one-time financial shortage to keep a plan active.

Risk of fire accidents and death increases in the winter months

admin — Sat, 05 Dec 2009 01:58:54 +0000

As cold winter weather approaches in the coming months, many families will seek any heating source they can – and they should be wary of the increased risk of fire that comes with using portable heating devices.

According to the National Fire Protection Association, one-third of all home fires and deaths occur between the months of December and February. The primary reason for the increase in fire accidents during this time is attributed to an increase in the use of auxiliary heating equipment and stoves by families trying to keep warm during the cold.

Further contributing to the risk of fires is the idea held by many that space heaters are safe appliances to have in one’s home. Despite 73 percent of all fire deaths and 51 percent of all property damage caused by the heaters, a Liberty Mutual and International Association of Fire Fighters survey in 2006 found that one in four adults felt they were “safe”

“At the start of the most dangerous home fire season of the year, families need to get the facts on fire safety and take extra precaution in protecting their homes,” said Greg Gordon, senior vice president of Consumer Marketing at Liberty Mutual.

For families who are dependent on space heaters for warmth this winter and incur some type of damage to essential portions of their homes due to a fire that need replacement, payday loans may be able to cover the expenses.

Plan accordingly for astronomical wedding costs, especially during the economic downturn

admin — Mon, 30 Nov 2009 23:41:10 +0000

As families struggle financially while unemployment continues to rise and the economy recovers at a slow rate, many will also be faced with the exciting, but expensive, prospect of hearing their child is getting married.

With the average cost of a wedding costing upwards of $20,000, according to the aptly titled CostOfWedding.com, even a wedding done at a discounted rate could easily set a family back about $15,000.

When dealing with wedding expenses that surpass one’s budget, a payday loan may be able to alleviate some of the financial crunch and enable families to properly celebrate their child’s special day.

According to the Baltimore Sun, the economy has led to a litany of problems for couples planning on tying the knot as they try to finance the event. More and more often couples are deciding to downsize the event to make it more reasonable.

“The economy is what’s on everybody’s mind. More than anything, people are saying, ”We want to get married, but how do we pay for it?” Shane McMurray, CEO of wedding industry tracker the Wedding Report, told the Sun.

McMurray said that the economy has led to smaller scale weddings – with guest lists averaging 145 people as opposed to 166 in 2007 – as well as more cost effective wedding ceremonies as well.

However, he added that the lowest wedding costs, which were seen during Q2 2009, still averaged about $16,500 in total expenses.

Renters still falling victim to foreclosure evictions, even though the law protects them

admin — Mon, 30 Nov 2009 23:40:59 +0000

While the foreclosure crisis currently engulfing the housing market has made headlines as homeowners struggle to make payments, those who rent property have become victims of foreclosure evictions have not received the same attention.

According to the Washington Independent, increasing number of renters have become frustrated with the lack of protection they are receiving in the event their landlord is unable to make their payments and their house falls into foreclosure.

While federal protections have been put in place to guarantee renters the right to stay in their property for 90 days if their unit falls into foreclosure, many renters have not been properly notified of their rights.

“We’re definitely seeing a lot of problems with tenants that just get notes from Realtors that say the bank has foreclosed on your property, and it’s time to get out,” Shelley Wright a litigation director for New Haven Legal Assistance, told the Independent.

Judith Liben, a senior housing attorney with the Massachusetts Law Reform Institute, agreed, telling the Independent that despite whatever law may be in place there was always the chance that a disconnect could occur between a law’s intention and “what really happens on the street.”

Renters who fall victim to foreclosure evictions and are forced to suddenly leave their homes may be able to utilize payday loans as an emergency means to pay for some type of temporary housing as they attempt to figure out their long term housing situation.

Unexpected fire costs should always be a worry of home and business owners

admin — Mon, 30 Nov 2009 22:33:39 +0000

No matter how many precautions are taken through the installation of fire alarms and proper use of electronics to prevent overheating, the unfortunate reality is that all houses are susceptible to extensive damage caused by a sudden fire.

If a home or business is seriously damaged by a fire to the point it is practically uninhabitable, taking out a short term loan may be able to help with the finances needed to begin the complicated rebuilding effort.

One example of an unexpected fire that ended up causing thousands of dollars in damages recently occurred in Forest Grove, Oregon on November 12 when a local nursery caught fire due to an uncommon cause, the Forest Grove News Times reported.

Police and fire officials responded to the fire at Glenn Walters Nursery at 5:40 p.m. to find the 90-by-150 foot building on fire. After the fire was put out, causing $20,000 in damages before it was finally contained, the cause of the blaze was attributed to large amounts of barkdust that had been compressed too tightly when stored, the News Times reported.

The compression caused the barkdust to heat up and begin to smolder before fully igniting.

Along with unexpected fires that could break out and cause damage to a home, many fire stations are seeing their budgets cut during the recession, slowing their effectiveness and response time that could lead to additional damages to a structure.