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If a heavy rain came along and youre stuck gathering pots and towels, and scratching your head about the next steps, dont panic. While no one wants to deal with a leak in their roof, many homeowners will face a problematic roofing situation at some point. Knowing how to effectively deal with it can be the difference between a minor inconvenience and an extremely costly issue. Here are the steps to take if you find a leak in your roof.

Contain the Damage
Water moves quickly and leaves damaging dampness wherever it manages to spread. If you notice an area in your home that is leaking, its imperative to address that spot immediately. Simply wiping up any excess water, moving furniture or appliances out of the way and containing the leak with pots or pans, can prevent a lot of excess damage. While your roof and ceiling may be a headache, the last thing you want to deal with are issues caused by moisture on your other belongings or parts of your home.

Assess Where the Leak is Located
Your roof is simultaneously one of the most expensive fixtures and the most vital protector of your home. Even a minor leak can cause serious damage to the building itself, in the form of rot and mildew or dangerous electric malfunctions, as water is introduced to your wiring or appliances. If you are unable to make or schedule an immediate repair due to inclement weather, assessing where the leak is located can help you temporarily seal it. Even the simple action of tarping a trouble spot can mitigate damage during a heavy rainstorm.

Call a Professional
It is true that small leaks may be relatively easy to fix, but only expert advice can tell you whether you have larger issues at hand. While many areas of your home are easy and cost-effective to DIY, your roof is such an important investment that it is far better to opt for a professional. A skilled roofer can assess not only the initial damage, but the best and most cost-effective steps to prevent damage in the future. After all, regular inspections and preventative maintenance are key to keeping costs low.

Published with permission from RISMedia.

Refinancing your home loan could help you lower your interest rate and monthly payments. Lenders look at many factors, including the amount of equity an applicant has, to decide whether to approve a refinance and what terms to offer.

Conventional Mortgage Refinance
Conventional lenders set their own requirements when it comes to the amount of equity needed to refinance a mortgage. Its generally easier to qualify for a mortgage refinance if you have at least 20 percent equity, but some lenders will approve an application from a homeowner with less equity and charge higher fees and interest rates.

If you have less than 20 percent equity, youll most likely need to have private mortgage insurance, which may cost hundreds of dollars per month. Sometimes a lender will waive the PMI requirement if a borrower has less than 20 percent equity but has a track record of consistently paying bills on time.

If your house has declined in value since you bought it and you have less than 20 percent equity, you will have to pay for private mortgage insurance, unless your lender waives it. If you didnt have to purchase PMI initially but you would have to after refinancing, you might not save much money overall.

FHA Refinancing Options
The Federal Housing Administration has less stringent requirements than conventional lenders. It can approve a refinance even if you owe more than your home is worth. With a streamlined refinance, you cant get more than $500 cash at closing or add closing costs to the amount of the loan. Your mortgage insurance must be extended to the new loan. For other, non-streamlined FHA refinances, you can refinance up to 85 percent of your homes value. When refinancing through the FHA, you will always have to purchase mortgage insurance.

VA Mortgage Refinancing Program
The Department of Veterans Affairs has a streamlined refinancing process called the VA Interest Rate Reduction Refinance Loan that can be used to refinance an existing VA loan. IRRRL doesnt require an appraisal, credit underwriting or mortgage insurance, and any VA lender can process an application.

The VA limits the amount of liability it will assume for a loan. If you have high equity, good credit and money for a down payment, you may qualify for a higher loan amount and a lower interest rate. You may be able to include closing costs in the amount of the new loan, but cash back at closing is not an option.

Should You Refinance Your Mortgage?
The amount of equity you have will affect your ability to qualify for a loan and the terms that will come along with it. Discuss your options with several lenders so you can make an informed decision.

Published with permission from RISMedia.

Embarking on a home improvement project is both exciting and stressful.
Dont let one of these common mistakes spoil the fun

Dont rush! Large scale projects take months. Plan accordingly and build in several weeks for curve balls.

Miscommunication. Tensions can run high, so find out the best way to stay in touch with your contractor – email, text, weekly meetings.
Your contractor can then mitigate issues between you and your partner.

Controlling design. Theres a big difference between what you like and what makes the best sense for your home.
Let a designer help decide what works for design and functionality.

Forgetting to budget. Go into the project with a number, then add in another 10 – 20 percent.

Published with permission from RISMedia.

Published with permission from RISMedia.

The electrical system in your house can wear out over time, especially if you have an older home and use a lot of appliances and electronic devices at once. These are some signs that you may need to speak to an electrician about upgrading your electrical system.

Tripped Circuits
Electricity enters the house at one location and travels to a circuit breaker panel that distributes it to other parts of the house. An old panel may not have enough circuits to meet your familys needs, or one or more individual circuits may not be able to handle several appliances and devices being used in a room at one time. If the circuit breaker panel is overburdened, heat can build up, which can damage the insulation and wiring and start a fire.

When an individual circuit breaker cant handle the demands being placed on it, it can trip and shut off the electricity. If that happens occasionally, it means the system is functioning as it should. If a circuit breaker trips often when you use multiple appliances in one room, that means the circuit is overburdened. It may need to be replaced with a circuit breaker that has a higher capacity and the wiring may also need to be upgraded.

Flickering Lights
If lights dim or flicker in one room when you use multiple appliances, that may mean that the wiring cant handle the demands being placed on it. If lights seem to flicker at random times, there may be a problem with one light or a widespread issue. The electrical system may need to be rewired to increase its capacity.

Hot Light Switches
If light switches feel hot when you touch them, that may indicate that the electrical system is overloaded. Normally, electricity flowing through a light switch generates a small amount of heat. A damaged switch may draw more electricity than it can handle, which can produce excess heat, wear out electrical components and create a fire hazard.

Other Signs of an Electrical Problem
Damaged wiring and corrosion can cause appliances and electronics to use more electricity than they should. If your electric bills seem unreasonably high, that may be a sign that your homes electrical system needs an upgrade.

If you find yourself replacing light bulbs more often than you should, it may indicate that damaged wiring causes too much electricity to reach the bulbs. That can cause them to wear out faster than they should.

Discoloration or burn marks on or around outlets can indicate that a circuit is carrying more current than it is designed to, which is causing high temperatures. This can lead to a fire if the problem isnt addressed.

Get Professional Help With Repairs
Electrical repairs are often complex and a problem may not be as simple and straightforward as you think it is. If you dont have the training and experience necessary to diagnose and fix an electrical problem yourself, hire a professional electrician.

Published with permission from RISMedia.