Energy Saving Tips:
Turn your heat pump or air conditioner off if you can. If you must leave it on, set the thermostat at 85 to 90 degrees. For every degree of temperature raised, you’ll save about 2 to 3 percent on the cooling part of your electric bill.

Turn off your water heater at the circuit breaker of fuse box (remember to run water from the hot water faucet to be certain the heater still has water in it before you turn the breaker back on)

Turn your refrigerator’s thermostat control to a slightly warmer setting if you’re going away for a few days. If you’re planning on leaving for a few weeks, you may want to turn it off. If so, clean it out thoroughly and leave the doors open to prevent mildew from forming.

Turn off lights except for those needed for security. Use timers to control lights for security purposes.

Home Safety Tips:
While your gone, it’s smart to make it seem like your house is still being occupied!

Use a timer to turn your radio and lights on and off throughout the day and evening. Close blinds and draperies in at least one lighted room and tell the neighbor which lights will be turning on and off. Also make sure your yard is well lit at night.

Consider using “call forwarding” for your phone so that your phone calls will automatically forward to another number where someone will answer them for you.

Ask citizens patrol to do drive-by’s for you while you are gone.

Have your lawn maintained while away.

All mail, newspapers, and other delivered items should be picked up or held until you return.

Have a neighbor put trash in your garbage cans and take it out on collection day. Also ask if they can park a car in your driveway at night if possible.

Keep these simple tips in mind and have a safe, fun, and stress-free summer vacation! Have any tips of your own? Share them with us by posting it below!

2. Develop your home wish list. Then, prioritize the features on your list.

3. Select where you want to live. Compile a list of three or four neighborhoods you’d like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.

4. Start saving.Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. Also, don’t forget to factor in closing costs. Closing costs — including taxes, attorney’s fee, and transfer fees — average between 2 and 7 percent of the home price.

5. Get your credit in order.Obtain a copy of your credit report to make sure it is accurate and to correct any errors immediately. A credit report provides a history of your credit, bad debts, and any late payments.

6. Determine your mortgage qualifications.How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you.

7. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements.

8. Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.

9. Calculate the costs of homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

10. Contact a REALTOR®. Find an experienced REALTOR® who can help guide you through the process.

[Realtor.org]

HENDERSON, Nev. – President Barack Obama used a campaign push for Senate Majority Leader Harry Reid on Friday to announce a new fund to support homeowners in five states hit hardest by the U.S. housing crisis.

Housing was at the center of the financial crisis that threw the U.S. economy into deep recession in late 2007. While signs of stabilization are appearing, home foreclosures are still rising in much of the country.

Obama said he was designating $1.5 billion from the Troubled Asset Relief Program to fund programs at local housing finance agencies in California, Florida, Nevada, Arizona and Michigan, which have seen home prices decline more than 20 percent from their peaks.

“This fund’s going to help out-of-work homeowners avoid preventable foreclosures,” Obama told a town hall-style meeting near Las Vegas. “It will help homeowners who owe more than their homes are worth find a way to pay their mortgages that works for both the borrowers and the lenders alike.”

Nevada is still struggling from the housing market crash, and Obama’s choice to make the announcement there was no accident.

The president is trying to boost Reid, a Nevada Democrat who trails potential Republican opponents by double digits in opinion polls before November elections that could change the balance of power in Congress.

Reid has helped push Obama’s agenda to boost the economy, overhaul the U.S. healthcare system and fight climate change, but Republican critics say he has neglected his home state.

Trying to limit his party’s losses in November, Obama heaped praise on Reid, saying the former amateur boxer “knows what he believes in and he’s willing to fight for it.”

Housing woes
After a prolonged boom that began in the late 1990s when banks loosened lending standards and took on excessive risk, the sector suddenly lost steam and prices deflated abruptly after 2006.

While falling values have left many mortgage-holders with homes worth less than the loans on them, soaring unemployment has led to even more mortgage defaults.

There has been some recent positive news, notably a report this week showing that construction starts on new homes hit a six-month high in January. Over the past 12 months through January, housing starts were up 21 percent, a sign that underlying demand was beginning to firm again.

“There is not enough money in the Treasury to stop every foreclosure,” Obama said later in a speech to the Las Vegas Chamber of Commerce. “But what government can do is help responsible homeowners stay in their homes.”

Obama also used his Nevada trip to push for a healthcare overhaul, saying reform “cannot wait” because it is vital to the economy. He will host a bipartisan summit at the White House on Thursday to try to jump-start his stalled effort.

A senior Obama administration official said the administration knew many homeowners were still hurting.

“We are extremely cognizant of just how difficult the housing situation remains,” the official told reporters.

“But (we are) very relieved that we are in a dramatically different place today where we have very significant stabilization in prices across most of the country.”

The $1.5 billion would be distributed to state agencies based on which states were suffering the most. Money could go to programs to help unemployed homeowners, for example, or borrowers who owe more on their houses than they are worth.

The official said the program came on top of the Treasury Department’s recent $23 billion program for all 50 state housing finance agencies.

URL:  http://www.msnbc.msn.com/id/35476054/ns/business-stocks_and_economy/

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