rightAsbestos Information
Asbestos is a tiny fiber that was used in the past primarily as insulation. It was also added to some building materials to provide added strength and flame resistance. The problem with asbestos is that it has been shown to cause lung cancer and mesothelioma in individuals that were exposed to large amounts of free-floating asbestos fibers in the air. These conditions typically did not become apparent until around 30 years after the exposure. Because of the health hazards of asbestos fibers, its use in insulation and paint was banned in the 1970’s. 

What you need to know about asbestos
Homes built prior to the 1970’s could contain asbestos in insulation, plumbing, paint, wall joint compound, and other building materials. However, as long as the materials are in good condition, they pose no danger. Asbestos is only a threat if the fibers are released into the air and can be inhaled. 

Renovations or demolitions of materials containing asbestos can release the fibers into the air. Therefore, the National Emissions Standards for Hazardous Air Pollutants (NESHAP) requires the owner of any property containing asbestos building materials to get an asbestos inspection prior to any demolitions or renovations of that property. 

leftHow can asbestos be removed?
If your home contains asbestos, you have two options:  removal of the material or sealing the material to prevent it from releasing fibers. Either option requires the help of a trained professional.

How do I know if my home contains asbestos?
If you suspect your home or a home you are considering buying may contain asbestos, it’s vital you get a thorough inspection by a qualified professional. Asbestos can only be detected by a special microscope. Our inspectors are trained in asbestos detection and will take samples from your home for further analysis. Please contact our office for further information.

 


Today's Rates:

Mtg Loan    Rate  APR
30-yr Fixed4.97%5.13%
15-yr Fixed4.33%4.56%
1-yr Adj4.27%5.3%
* national averages



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Mortgage Daily News:
 
The Day Ahead: Inventories, Budget Statement, Treasury Auction
3/10/2010 7:22 AM

Posted To: MND NewsWire

Investors this morning await the first real data to be released this week. But wholesale trade inventories isn’t a major market mover, nor is the afternoon’s budget statement, so it could be a quiet day if investors prefer to postpone trading until retail sales figures hit the headlines...Read More
 
Explaining The MBS Settlement Process
3/9/2010 3:51 PM

Posted To: MBS Commentary

10yr Notes progressively improved into the PM , ending 5 ticks better on the day with a yield of 3.70. MBS fought off much of the AM weakness in tsy's, and rallied just as well into the PM, reaching 101-15 at 4pm. But then we ended 4 ticks down on the day at 101-01! WHAT?!?!? S...Read More
 
Commercial and Multifamily Mortgages Outperforming Overall Bank Holdings
3/9/2010 2:45 PM

Posted To: MND NewsWire

Commercial and multifamily mortgages continue to have the lowest rates of charge-offs of any loan types at banks and thrifts and perform better than the overall loan portfolios at those institutions according to the Mortgage Bankers Association (MBA). In response to what it referred to as a great d...Read More
 
HUD Enforcing Job Creation Requirements for State and Local Governments
3/9/2010 2:37 PM

Posted To: MND NewsWire

The Department of Housing and Urban Development (HUD) has released the results of the first stage of its increased oversight and enforcement of job creation requirements under Section 3 of the Housing and Urban Development Act of 1968. In a press release on Monday HUD said that more than 3,100 stat...Read More
 
MBS AFTERNOON: Potential Reprices For The Better
3/9/2010 2:01 PM

Posted To: MBS Commentary

MBS Off To The Races with 4.5's up 8 ticks to 101-15! 10yr up 5 ticks on the day dropping yield to 3.70 (through post auction resistance) Reprices for the better = highly likely From the Ninja: Mortgages are still on hold as today’s 3yr note auction held few surprises-eve...Read More
 
Risk Weighted Returns; Warehouse Lending Credit Manager Needed; Subprime Analysts Lost; Bank News
3/9/2010 1:56 PM

Posted To: The Garrett Watts Report

We commented last week how a lot of people didn’t know what HSBC stood for... If you go back to when they bought a bank in Buffalo, New York to established themselves in the U.S. The joke was that HSBC stood for "Holy ____, Buffalo's Cold.” City National Ba...Read More
 
MBS LUNCH: 3 Year Note Auction Results And Reaction
3/9/2010 12:19 PM

Posted To: MBS Commentary

Immediately following the 3yr Treasury Note auction, treasuries weakened while MBS held steady. Since then, MBS have lost a few ticks, but the 4.5 remains positive on the day, up 1 tick at 101-07. The 10yr note is also up a tick leaving the yield just under 3.72. The 10yr's pos...Read More
 
MBS MORNING: Fed President Reminds About Labor Market Weakness
3/9/2010 10:23 AM

Posted To: MBS Commentary

I am kinda bummed no one laughed at my Kathy Ireland reference in MBS OPEN . Her dress was so tight you could see her liver processing the booze (that's a rumor). I suppose I could have poked fun at Sarah Jessica Parker's "Queen of the Nile" get-up. Ugh. You guys ...Read More
 
Empty Econ Calendar Helps Mortgage Rates Hold Steady. Auctions Biggest Reprice Threat
3/9/2010 10:05 AM

Posted To: Mortgage Rate Watch

After last week’s rates roller coaster ride that forced multiple reprices for the better and the worse, yesterday was quite boring. Mortgage rates held steady as prices of mortgage backed securities never moved too far in either direction. With very little price volatility, l...Read More
 
Second Mortgages in the Spotlight; Reverse Repurchase Primer; My Opinion on Mortgage Rates After the Fed; Provident Cuts Interest Only
3/9/2010 9:29 AM

Posted To: Pipeline Press

Often I start the commentary off saying something witty, but I couldn't think of anything clever so I thought I'd suggest you take a look at this video about, of all things, seat belts. It is making the rounds, and with good reason. The Federal Reserve has a ...Read More




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