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Every year in the U.S., fire kills over 3,000 people, injures thousands more and causes billions of dollars of damage. House fires are a major contributor to those horrific statistics, which is why its important to make fire safety a priority in your home. Here are some tips from the U.S. Fire Administration to help keep you and your family safe:

Fire Alarms
You may have less than three minutes to escape a home fire, so every second counts. For early fire detection, install smoke alarms on every level of your home and inside and outside all sleeping areas. Test your alarms monthly to ensure they work and dont need new batteries, and replace alarms that are at least 10 years old.

Kitchen
According to the U.S. Fire Administration, cooking is the No. 1 cause of home fires. To prevent a cooking fire, stay in the kitchen when youre frying, grilling, broiling or boiling food. If you leave the kitchen, turn the burner off. Keep things that can burn away from your cooking area, and turn pot handles toward the back of the stove so they wont get bumped.

Heating
Heating is the second-leading cause of home fires. Keep anything that can burn at least three feet away from fireplaces, wood stoves, portable heaters and radiators. When you leave a room or go to bed, turn heaters off or unplug them. Have your furnace, chimney and chimney connector inspected by a professional every winter, and make repairs before cool weather sets in.

Electronics
To prevent an electrical fire, plug only one heat-producing appliance, such as a microwave, coffee maker or portable heater, into an electrical outlet. If you have an electrical cord that is frayed or broken, throw it out. Use extension cords as a temporary power supply only.

Candles
Any open flame is dangerous, so if you use candles in your home, put them in sturdy holders. Place candles at least 12 inches away from anything that can burn, and make sure pets and children cant reach them. Blow out all candles if you leave the room, get sleepy or go to bed.

Cigarettes
If you smoke at home, youre at higher risk for a fire. Use deep, sturdy ashtrays, and make sure to put cigarettes all the way out. Smoke only when youre alert”never in bed or if youre drowsy.

Escape Plan
As mentioned, time is precious when it comes to a fire, so establish an escape plan with your family about what to do if there is one. Make sure everyone knows two ways out of each room, and agree on a distant place outside your home where you can all meet safely, such as a sidewalk across the street. To ensure family members remember the plan, practice it together at least twice a year.

If you keep these simple tips in mind, your home is bound to be much safer from fire.

Published with permission from RISMedia.

When someone passes away, his or her house is generally left to a family member. Figuring out what to do after inheriting a house can be confusing and overwhelming, particularly when it is unexpected or when siblings become joint owners. People sometimes rush to make decisions, and sometimes, they put off making important choices. Either can lead to more financial costs and stress.

Find and Prevent Damage
If you’ve inherited a house, you should first assess its current condition. Have the house inspected by a professional so that you know what needs work and so you can make any necessary repairs. Next, contact the utility companies to have the accounts switched to your name. It’s also important to keep the heat and water turned on to avoid problems such as frozen pipes. In addition, keep the electricity working and have the yard maintained in order to avoid making it obvious that the house is unoccupied.

Clean Out the House
Invite family members to the house to take any items they want, provided they weren’t left to specific individuals in the will. Start with immediate family members, then branch out to allow others to choose things they would like. This can be an emotionally difficult task, but putting it off will prevent you from moving forward and deciding what to do with the house.

Move in, Sell or Rent?
If you want to move into the house, find out how much the mortgage (if any) and property taxes would be. If you and your siblings are joint owners of the house and one of you wants to live in the space, the future resident can buy out the others, pay them rent, or work out another arrangement.

If you decide to sell the house, you will need to pay taxes on any increase in value between the time of inheritance and the time of sale.

Renting is another option to consider. While you might be able to make money by renting out the property, you need to consider the potential costs that come with this option. In addition to being responsible for taxes and insurance, you would also be personally responsible for maintenance and repairs, unless you hired a property manager. Hiring someone to handle these tasks would cut into your profits, but it could also make renting the house less stressful. If you choose to rent the space, be prepared to thoroughly vet prospective tenants to avoid dealing with missed rent payments, damage and possible eviction proceedings.

Think Things Over Carefully
The death of a loved one is an emotionally painful experience that can leave people feeling overwhelmed and struggling to make decisions. If you’ve inherited a house, it has likely created a host of financial and emotional issues that you weren’t anticipating. Talk to your family and ask professionals for advice so that you can make the right choices.

Published with permission from RISMedia.

Home shoppers who haven’t checked their credit report months before applying for a home loan may be in for a shock when they visit a loan officer. A host of problems could pop up: Their credit score could be a little too low to qualify for the best rate on a mortgage, they’re using a high percentage of their credit, or a credit card payment they sent on time is shown by the creditor as arriving late.

A rapid rescore can help if you’re in the middle of the process of buying a house. And it can help with a quick mortgage approval, having a days-long turnaround instead of a month if the issues can be resolved quickly.

How Rapid Rescoring Works
A rapid rescore is a process done by a lender or mortgage broker to quickly fix credit report errors that can hurt a credit score. It’s a process that can only be done by a lender or a company that specializes in rapid rescoring and has access to credit reporting company data that is pulled from credit bureaus.

Rapid rescoring takes 3-5 business days, while consumers who try to improve their credit score by contacting a credit company can spend 30-45 days fixing their credit score. Sometimes it takes that long because a credit service legally has 30 days to respond to a request, which is what they normally take with requests from individuals.

A rapid rescore can raise a credit score by 100 points or more within a few days, but that’s only if the negative information can be cleared from your credit profile quickly.

For example, paying a credit card down so that a credit utilization ratio”your outstanding balances compared to your credit limits”is less than 30 percent, can boost a credit score by 10 points or more. That could be enough to increase a 715 credit score to 725, where a 720 score is the cutoff to get a lower interest rate on a loan.

Fixing credit report inaccuracies is another reason to use a rapid rescore. Having proof that a payment was made on time, for example, when a bank says it wasn’t could be an error worth fixing.

Costs of Rapid Rescoring
The Fair Credit Reporting Act doesn’t allow borrowers to be charged for disputing inaccurate information on their credit report. Rapid rescoring fees are paid by the lender and can cost $20 to $40 per credit account that’s being checked by each credit bureau.

Updating the three major credit bureaus for three or four credit accounts can get expensive. Some lenders may average all three credit scores, while others may just use one credit bureau’s score.

Or, if you want to do it yourself, you can obtain a free copy of your credit report once per year from each of the three major credit bureaus: Equifax, Transunion and Experian. If done a month or more before applying for a home loan, it will give you enough time to review the reports and fix any errors.

Published with permission from RISMedia.

The amount due on a property tax bill is obviously the main thing that catches a homeowner’s eye”but there are other parts of the bill that should be checked for errors and confirmed as updated.

Here are some ways to review your property tax bill and how to appeal it:

Check the Numbers
Look at the rate of taxation and assessed value of your home. Are they correct?

Assessments are generally tied to fair market value. A home’s attributes, such as square footage, number of rooms and type of property, are put into an automated valuation formula. Ask your assessor’s office for a detailed checklist and make sure it’s correct.

The value of a home assessment is usually done in two ways: based on recent sales, and based on replacement value as determined by an insurance company.

When to Ask for a Reassessment
If your home assessment is based on similar properties, then check on sales of homes in your area. If the assessor puts the value higher than at least three to five comparable homes, then you may want to appeal.

Property tax assessments are updated only every few years in some places. If property values have dropped significantly in your area since the last assessment and your property taxes haven’t changed, you can request a reassessment.

How to Appeal
Filing deadlines and procedures for an appeal should be included in your property tax bill. If not, look on the assessor’s website.

Submit your documentation, such as a list of comparable properties, in a letter or online for the review board to look at.

If you need help, hire a tax or real estate expert who specializes in tax assessment. If you win the appeal, the lower tax assessment should apply for a few years and make the fee worthwhile.

When filing an appeal, you’re still required to pay your property taxes on time and in full during the process. If you win, you’ll get a refund. There’s also the possibility that if it’s found that comparable home prices are higher, you could see an increase in your property taxes.

If you lose your appeal, you can appeal it to a state board or court, though those may require paying extra fees. At the very least, you can appeal your property tax bill next year when it arrives in the mail.

I hope you found this helpful. Contact me for more home and real estate insights and info.

Published with permission from RISMedia.

Siding is a critical component of a home that protects it from extreme temperatures, rain, snow and wind. Although siding is designed to last many years, it can become damaged over time by repeated exposure to the elements and lack of maintenance. If your homes siding needs to be replaced, you have many options.

Most Popular Siding Materials
The most commonly chosen type of siding is vinyl. Homeowners prefer vinyl siding because it is inexpensive and durable and requires little maintenance. Vinyl siding comes in an array of colors and styles and can even be made to resemble other siding materials.

Although wood siding has declined in popularity, many homeowners still choose it because of its strength and classic appearance. Several types of wood can be used for siding, and pieces can be cut into shingles or shakes. With proper maintenance, wood siding can last several decades. It requires caulking and painting or staining, and skipping those steps can cause the siding to become worn and damaged. Wood siding is also vulnerable to insects and rodents.

Stucco is made from a combination of sand, Portland cement, lime and water. Wood walls are covered with a waterproof barrier and metal screening, and then stucco is applied on top. With proper installation and routine maintenance, stucco can last a lifetime.

Fiber-cement siding can be manufactured in several styles and can be made to resemble wood, stucco or masonry siding. It can be easy to maintain and can resist fire and termite damage, but it is susceptible to moisture problems. The lifespan of fiber-cement siding depends on the manufacturer.

Solid brick used to be a popular option for the exterior of homes, but nowadays, a brick veneer covering a wood frame is more common. A membrane installed beneath the brick veneer can prevent water damage. Brick veneer is more expensive than other types of siding.

Stone house coverings, made from solid granite or limestone, can be a beautiful but expensive addition. Stone veneers cost less and are easier to install than solid stone. Both natural and synthetic materials can be used. Stone and stone veneer siding require very little maintenance.

How to Choose the Right Siding for Your Home
Replacing the siding on your house is an investment that can last for decades and increase your homes value, as well. The siding material you select should be attractive, durable and relatively easy to maintain. Options abound, and your choice will depend on the style of your home and others in the neighborhood, your personal preferences and your budget. Look at photos of houses with various siding materials and discuss your options with several local contractors. Compare quotes and warranties so you can choose the right material and company.

Published with permission from RISMedia.