August 26, 2011 2:03 pm
Homeowners can create a new look for their rooms by changing the artwork, says Donna Hoffman, president of Interiors by Donna Hoffman which specializes in decorating ideas.
"If you're not in the market for a total makeover, but you want to jazz things up a bit, consider finessing the art in your house," says Hoffman. "Relocating or reframing an existing art piece or painting brings a strikingly fresh feel. One client recently agreed to update and reframe just 3 favorite pieces for their recent downsize and the results were stupendous. Still at other times, it's a question of adding more to a collection."
But there is one major interior design tip for buying art, she says.
"People get intimidated on the subject of art: Renoir or bust? Original or forget it? Frankly, there are no hard fast rules when it comes to purchasing art, except this one: Buy what you love and, if possible, buy it when you see it," Hoffman says. "Must it be museum quality, collector quality or cost tens of thousands of dollars? Absolutely not. Beauty and aesthetic pleasure are so individual," she adds.
To accomplish a winning interior design idea, the designer encourages clients to open their "art thinking."
"Think beyond simply prints or oils hung everywhere," she says. "You can also hang wonderful pieces of architectural salvage too—grates, grillwork, wrought iron, even heavily carved wooden doors with an ethnic bent.”
Expand your definition of art and you'll be surprised at what lends authentic beauty and memorable touches to great interiors.
"Frame meaningful items like black and white photos you took yourself. Create shadow boxes for collectible items like your grandmother's handkerchiefs - or a kimono you bought overseas. For a music room or library, frame old faded sheet music or book plates," Hoffman says. "Do try to avoid having every piece of art behind glass if possible. Oils, mixed media pieces and sculptures create much needed nuanced textures to offset a sea of glass. In other words, there's an art to art."
Additional information can be found at http://www.interiorsbydonnahoffman.com.
August 26, 2011 2:03 pm
Escrow company. A firm that specializes in handling the closing of a transaction.
August 26, 2011 2:03 pm
Q: What are subprime loans?
A: Subprime mortgages are made to borrowers, usually at a higher interest rate, who do not meet traditional credit criteria or who have unconventional borrowing needs.
Factors that can prevent someone from meeting the traditional criteria could be a high debt-to-income ratio, low reserves at settlement, as well as past credit woes – bankruptcies, defaults, foreclosures, or chronic late payments on debt obligations.
August 25, 2011 5:03 pm
With Hurricane Irene making its way steadily toward the United States, the Electrical Safety Foundation International (ESFI) is reminding residents that danger may linger in your home even after the storm has passed.
“As families begin to clean up following a storm or flood, it is important to be aware of potential dangers that result whenever water comes into contact with electricity,” cautions ESFI President Brett Brenner. “Before flipping a switch or plugging in an appliance, have a licensed electrician check the house wiring and appliances to make sure they are safe to use.”
ESFI offers the following safety tips to help you weather the storm and its aftermath safely:
Downed Power Lines
• Always assume fallen power lines are energized.
• Contact your utility company immediately to report downed power lines.
• Stay at least 10 feet away from a downed power line and anything it may be touching, such as a fence, tree limb or water.
• Never touch a person or object that is in direct or indirect contact with a downed power line. Instead, call 911 immediately.
• Never attempt to move a downed power line–leave it to the professionals. Do not try to move a downed power line with another object. Even non-conductive materials like wood or cloth that are slightly wet can conduct electricity.
• Do not return home until instructed by the appropriate local authorities.
• Return home during daylight hours, especially if power has not been restored.
• Take care when stepping into a flooded area, and be aware that submerged outlets or electrical cords may energize the water, posing a potentially deadly trap.
• If you smell gas, notify emergency authorities immediately. Do not turn on lights, light matches or engage in any activity that could create a spark.
Submerged Electrical Appliances
• Electrical equipment exposed to water can be extremely dangerous if reenergized without proper reconditioning or replacement.
• Do not use electrical appliances that have been wet until they have been examined by a qualified service repair dealer. Certain equipment will require replacement, while a trained professional may be able to recondition other devices.
• Electrical items, such as circuit breakers, fuses, ground fault circuit interrupters (GFCIs), receptacles, plugs and switches, can malfunction when water and silt get inside. Discard them if they have been submerged.
• Ocean water and salt spray can be particularly damaging to electrical equipment due to the corrosive and conductive nature of the salt water residue.
• Damage to electrical equipment can also result from exposure to flood waters contaminated with chemicals, sewage, oil and other debris.
• Portable generators can be a convenient source of temporary power during outages caused by storms, but they can also be dangerous if not used properly.
• Do not operate a portable generator in your home or in any other enclosed or even partially enclosed area. Generators can very quickly produce high levels of carbon monoxide, which can be deadly.
• Make sure that there is at least one battery-operated or battery backup carbon monoxide alarm in your home. Test it before using your generator.
• Do not connect generators directly to the household wiring unless an appropriate transfer switch has been installed by a licensed, qualified electrician.
• Always turn the generator off and let it cool down before refueling.
For more information about ESFI and National Electrical Safety Month, visit http://www.electrical-safety.org.
August 25, 2011 5:03 pm
Saving money has never been so trendy. Long gone are the days of irresponsible spending, so why be irresponsible with your homeowners insurance? Taking a little bit of time to research your options might just help you save a little in the wallet and put more in the bank.
Here are four tips from homeownersinsurance.net:
1. Shop around. Some insurance companies have been raising house insurance costs to recoup losses from the financial crisis. Others are competing for new customers by offering lower rates. By shopping around, people can find better deals on homeowners insurance.
2. Re-evaluate coverage amounts. Many policies have inflation protection provisions, which automatically increase coverage amounts. This was a good item in the years leading up to the crash, but today they should be looked at more closely.
3. Check personal credit reports. Homeowners insurance companies check credit history before figuring rates, similar to how lenders do. This is done to help them assess the risk of payment and likely individual responsibility. Check your credit report and make sure it’s accurate so you can get the best possible rate.
4. Small claims can become expensive. Homeowners should have the highest deductible they can comfortably afford and repair minor items out of pocket rather than filing a claim. Filing a claim for every broken window or leaky pipe can increase premiums by 10-15%.
August 25, 2011 5:03 pm
Owning a vehicle can be enjoyable, but it also comes with a cost. On top of the purchase price, gas, maintenance, repairs, and insurance costs can quickly add up. While insurance is mandatory for most people, overpaying for coverage can be avoided. InsuranceHotline.com presents seven tips that may lead to lower auto insurance costs. All it takes is a little time, and big savings could just be around the corner.
1. Look around.
Deal hunting online is widely used for electronics, vacations, and more; why shouldn’t insurance be included? With so many insurance companies on the market, it can be overwhelming to collect all the required information and make a decision. Often times, brokers only represent a handful of companies, limiting the pool of options. Online comparison sites can do the analysis based on the information entered to present quotes for over 30 companies and provide the lowest rate available through its network. There’s also no need to wait for renewal papers to arrive; sometimes the available savings may well off-set the potential penalty.
2. Review current coverage.
Most drivers are required to have liability coverage and many people choose to add comprehensive coverage. However, collision coverage may not be necessary for everyone. Collision coverage handles costs associated with damage sustained to the policy holder’s car. If the vehicle is very old, has high mileage, or is in poor condition, then it may not be worth the extra premium costs to receive this coverage.
3. Consider increasing the deductible.
The deductible is the amount car owners are responsible for paying when a claim is made. A higher deductible would mean the insurance company pays less in the event of a claim. This decrease in risk is then transferred to the consumer in reduced premiums. There isn’t one ideal number for this as it all depends on each consumer’s comfort zone. There may be a preference to save more now with a higher deductible, or to have increased financial security in the event of a claim with a lower deductible.
4. Research discounts.
There is power in numbers. The following are discounts that some insurance companies might consider when pricing a policy.
• Profession – By working in certain fields or holding a professional designation, there may be discounts available depending on the insurance company. The quickest way to find out is by contacting the association or a broker.
• Group Affiliation – Associations like alumni groups or trade unions may provide discounts on insurance to its members. They may be working with a specific provider in which case the association would be a key source of information.
• Auto clubs – CAA or other specialty vehicle clubs may have specially negotiated rates with certain insurers, thus offering lower premiums. Begin by checking the membership package, or contacting the current broker directly.
5. Combining insurance.
Purchasing home insurance from the same company that provides the auto coverage may result in a savings of 5-10% off both premiums. Furthermore, adding another vehicle in the household to the same policy could lead to further discounts. It’s definitely worth talking to an agent or broker to investigate the potential savings that can be offered by grouping policies together.
6. Installing winter tires.
For those living in harsh winter conditions, this is more a matter of safety. Taking precautions to decrease the likelihood of accidents during dangerous conditions should always be considered. In fact, some insurance companies will take this into account, and may offer a discount. However, keep in mind that living up to the promise is equally important. If winter tires were not in place when they should have been, it could be considered a fraudulent claim with potential consequences.
7. Accident forgiveness or similar benefits.
Even the safest driver is susceptible to threats on the road, from uncontrollable factors like other drivers. Accident forgiveness will eliminate the effects that the first accident-related claim would have on premiums. Unlike the other tips that result in immediate savings, this will probably cost extra in the beginning.
However, it may be well worth the additional cost so that effects on insurance rates are minimized in the event that you have an at-fault accident.
For the most part, insurance remains an uncontrollable cost. However, drivers do have the power to prevent unnecessary increases in premiums. For example, always drive defensively to keep a record free of tickets and accidents. If insurance premiums have become a significant financial burden, then changes in habits may be a viable option. These include carpooling, taking public transportation, or even living closer to the workplace.
For more information, visit www.InsuranceHotline.com.
August 25, 2011 5:03 pm
A May 2011 Consumer Reports survey shows 2011 college graduates had a rate of debt that is 47 percent higher than their counterparts a decade ago and up eight percent from 2010.
Recent changes in credit card laws prevent companies from giving students T-shirts or pizza as an enticement to apply for credit. "Despite the changes implemented by new laws, it's still pretty easy for a college student to get a credit card," says Kristy Welsh, editor of CreditInfocenter.com. "According to a 2009 Sallie Mae study, 5 percent of students chose their first credit card from a vendor on campus; 38 percent said they chose their credit card from a mail offer; 19 percent got a referral from a parent."
Here are some things college freshmen should keep in mind when applying for credit:
1. Know what you're getting. Yes, this means reading all the fine print on the credit card application, either printed or online. Are you offered a low introductory rate for six months and then a sky-high interest rate after that? Don't set yourself up for a nasty surprise.
2. Only apply for the amount of credit you need. Don't apply for a credit card just because you can or worse, for emergencies. Studies show that once in your possession, the temptation to use a card can be overwhelming and you'll be in debt before you know it.
3. Pay your card off every month. Sounds like common sense, doesn't it? "Part of the trick of paying off your bills every month is not overusing the card in the first place," says Welsh.
4. Be afraid of credit cards bearing your school name. Many of these aren't issued by the big banks that back most credit cards. Finding information about them online can be difficult.
For more information, visit http://www.creditinfocenter.com.
August 25, 2011 5:03 pm
Escrow. Money or documents held by a third party until specific conditions of an agreement or contract are fulfilled.
August 25, 2011 5:03 pm
Q: What is a prepayment penalty?
A: Some mortgages have prepayment penalties written into them. This means you will have to pay the lender a percentage of the principal, or some other stated amount, if you decide to repay the loan early.
The prepayment clause is usually in effect for only one to three years and may be waived for special circumstances. Lenders impose the penalty to recover any losses related to your early payment.
Ask about prepayment penalties before signing for a home loan. If you are applying for a new loan, the penalty should be disclosed in the truth-in-lending statement.
August 24, 2011 2:03 pm
At a time when more and more people are telecommuting, or increasing income with a home-based business, carving out a little office space at home is more important than ever.
“Not a problem,” says Philadelphia decorator Linda Rooney. “Whether you are living in a studio apartment, a single-family home, or in your mom’s basement, it may be easier than you think to turn a small area into a functional office space.”
Rooney suggests ‘thinking small’ when choosing office furniture—like a low-profile desk chair or a two drawer file cabinet on wheels that can be rolled under the desk when not in use. She also offers the following solutions for creating a work-at-home space:
• Closet space – Repurpose a coat closet into a ‘pocket office’ by replacing the door with a bi-fold door or a curtain panel hung from a spring-tension rod. Form a storage-savvy desk by placing a cut-to-measure piece of stained or painted plywood across a pair of two-drawer file cabinets with enough knee space between them. A couple of shelves installed over the desk can hold office supplies and/or a printer, and a wheeled chair can be rolled into place to complete your new office space.
• Living room space – The key here is to arrange your ”office” so you don’t see it when not in use. A computer armoire that looks like a piece of furniture when closed up is one way to do it. Otherwise, place the sofa and chairs in one direction (such as facing the fireplace) or arrange ”conversation area” style. The office set-up may be arranged in a corner or against a window wall facing the outdoors—or position the sofa in the middle of the room and use a slim console table behind it to double as a desk when you need it.
• Double-duty guest room – Switch the double bed in your guest room to a fold-out couch or daybed to accommodate guests, leaving room to turn guest-room space into a functioning office space. Your cozy work space can still provide a comfy place for guests whenever needed.