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More and more people are looking for ways to increase their home’s energy efficiency”both to conserve energy for the good of our environment and to lower energy costs. The good news, environmentalists tell us, is that there are many ways to accomplish both goals without spending a great deal of money.

From a panel of national energy experts, here are proven ways to do your part:

Unplug appliances. Coffee makers and other kitchen appliances, and even your cellphone charger, draw energy even when not in use. Make it a habit to unplug them after use.

Caulk and weather strip. Properly caulked windows and doors help keep outdoor air from seeping into your home, increasing the overall efficiency of your heating and air conditioning systems. Materials are inexpensive and replacement doesn’t take a lot of time, so check for drafts and replace as needed.

Add insulation. Especially in older homes, adding insulation to the inside of your attic is well worth the minor investment in terms of efficiency and energy cost.

Lower the water temp. A water heater set higher than 120 degrees Fahrenheit wastes a lot of energy and creates a burn hazard for children. So while it might take a few extra minutes to get your kitchen faucet water really hot, it will be worth the savings to lower your thermostat.

Replace incandescent lights. The average household spends 11 percent of its energy budget on lighting. Traditional incandescent lights convert only about 10 percent of the energy they consume into light, while the rest becomes heat. New lighting technologies, such as light-emitting diodes (LEDs) and compact fluorescent lamps (CFLs), can reduce the energy use required by lighting by 50 – 75 percent.

Maximize laundry and dish cleaning. Don’t run a load until the machine is full. Clean the dryer’s lint filter frequently and use lower temperature settings or lower cleaning settings when clothes or dishes are not heavily soiled.

Hope you found this information helpful! Contact me for more insights and info.

Published with permission from RISMedia.

Here are a few tips to help find the right fabric choice for each room in the house.

Style and Aesthetic

From solid colors to vibrant patterns and prints, the hardest part is usually narrowing it down to a fabric that suits your design aesthetic.

Durability

There are certain parts of the home that receive more wear and tear than the rest. In these particular spaces, you may want to opt for a performance fabric.

Care and Cleaning

Take note of any particular cleaning instructions before making a decision.

Tactile Experience

Whether its a silky satin or a plush velvet, your furniture should be finished with a material thats comfortable when sitting or lying down on it.

Published with permission from RISMedia.

If you’ve owned a home for several years and made responsible financial decisions, you may have built a significant amount of equity. Home equity is the difference between the current market value of your house and the amount you still owe on the mortgage. If the value is greater than the debt, you have positive equity that can be used to finance other goals.

How Does Equity Change Over Time?
There are two ways to increase the amount of equity in your home. First, you can pay down the principal on the mortgage and make improvements that will increase the value of the house. As the ratio of the amount of the house you own outright to the amount of debt increases, equity grows.

It takes years to build equity. One reason for this is that mortgages tend to charge more interest at the beginning of the repayment period, which means a relatively small amount of each payment is applied to the principal. Later in the repayment period, a higher percentage of each monthly payment will pay off the principal, so equity will grow at a faster rate.

Paying a mortgage each month can be a way to force yourself to save and build wealth. Since the value of a house will increase over time in most circumstances, you can amass a significant amount of equity if you stay in your house for several years.

Paying your mortgage on time is no guarantee that you will gain equity. If the local housing market or the economy as a whole takes a nosedive, the value of your house could plummet. You could wind up with less equity than you had before, or you might even wind up owing more than your house is worth.

How to Take Advantage of Equity
You can benefit from your homes equity when you sell it. If you receive more than the amount of the outstanding mortgage balance, you will be able to pay off the loan and walk away with a profit.

You can also use your home equity while you are living in your house. You can borrow against your equity with a home equity loan, which would provide a lump sum of money, or a home equity line of credit, which would let you borrow money in a variety of amounts over a period of time, up to your credit limit. Both options would provide you with money that could be used for home repairs and improvements, credit card bills, and other expenses.

If you want to find out how much equity you currently have, you can use a home equity calculator to get an estimate. If you want a more exact figure, you will need to have the house appraised.

Focus on Increasing Equity
Home equity takes time to build, but it can give you the financial flexibility you need to pursue other goals. Diligently paying down your mortgage and making valuable home improvements can help you grow your equity faster.

Published with permission from RISMedia.

Published with permission from RISMedia.

Owing more money on your mortgage loan than your home is worth”commonly referred to as being underwater on a home mortgage”can seem hopeless.

There were 6.7 million underwater homes in the U.S. at the end of the first quarter of 2016, representing 12 percent of all properties with a mortgage, according to RealtyTrac. The numbers are dropping since a peak of 12.8 million homes in 2012, when 28 percent of all properties with a mortgage were underwater.

For people still underwater, those numbers dont offer much solace. However, there are some options for underwater homeowners, including:

Short sale: If you have to sell your home, a short sale may get you the most money. Your lender has to agree to let you sell it for less than you owe, which may lead to the home being sold quicker than it would otherwise.

Your lender must agree to the lower price, and it will take the loss, and your credit score will fall. Lenders can also reject short sale offers on your home, causing the deal to fall through.

Refi: Refinancing your home loan wont increase the homes value and may still leave you underwater, but youll have a lower interest rate and a lower monthly mortgage payment.

It can be almost impossible to refinance with negative equity. The federal governments Home Affordable Refinance Program, or HARP, helps by giving lenders incentives to help underwater homeowners. Loans can be refinanced at 105 percent to 125 percent of a homes value.

To be eligible for HARP, the loan must be owned or guaranteed by Fannie Mae or Freddie Mac, and the borrower must be current on mortgage payments, having not missed a payment during the past 12 months. If you dont have a good credit score or high enough income, you could be denied for HARP.

Another option is the federal Home Affordable Modification Program, or HAMP. A financial hardship that puts the mortgage in default must be shown. This isnt a refinancing option, but a way to change the contract terms to lower your payments for up to 60 months.

Walk away: If you dont think your homes value will ever come back, you can walk away from your home by no longer making monthly payments and defaulting on the loan”called a strategic default.

Some consider this unethical, and the foreclosure that will eventually occur will hurt your credit score and stay on your credit report for seven years.

Published with permission from RISMedia.