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 Fixed4.32%4.46%
15-yr Fixed3.83%4.03%
1-yr Adj3.5%4.34%
* national averages



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Mortgage Daily News:
 
The Day Ahead: Beige Book, Treasury Auction, Heavy Corporate Debt Supply
9/8/2010 7:13 AM

Posted To: MBS Commentary

Recap of Yesterday Lost rate sheet rebate was restored yesterday as the bond market benefited from a reversal of demand for risky assets (stocks sold) and an onslaught of swapable corporate debt supply. Loan pricing was aggressive out the gate so not all lenders repriced for the be...Read More
 
Mortgage Rates End Losing Streak But Treasury Auctions Loom
9/7/2010 3:11 PM

Posted To: Mortgage Rate Watch

The week ahead is very light in terms of economic data, that implies we should expect the stock market to continue to provide mortgage rates with directional guidance. If stocks rally, look for mortgage rates to move higher. If stocks fall, look for mortgage rates to improve. The o...Read More
 
Housing Crisis Needs Localized Approach, Not "One Size Fits All" Solution
9/7/2010 1:58 PM

Posted To: MND NewsWire

Eric Rosengren, president of the Federal Reserve Bank of Boston, told attendees at a Federal Reserve sponsored conference on REO and Vacant Property Strategies for Neighborhood Stabilization last Thursday that there may not be a single solution for the housing market as the effects of financial cri...Read More
 
Rates Retrace Late Week Losses. Lost Rebate Restored
9/7/2010 10:45 AM

Posted To: MBS Commentary

Good Morning. I hope everyone had a safe and sound Labor Day weekend. I for one feel re-energized following a three day stay in State College, PA (PSU). The weather was perfect, we blew out Youngstown State, and I escaped the bike trails unscathed. Mission accomplished! Welcome bac...Read More
 
Zero-Down Payment Programs; New FHA Mortgagee Letter; Does the Value of Servicing Warrant Retaining It?
9/7/2010 10:19 AM

Posted To: Pipeline Press

Much of life is a balancing act. For example, I eat my Captain Crunch with only low-fat milk because I wouldn't want unnecessary calories. Underwriting is also a balancing act, matching the risk of the borrower being able to make payments with the desire for the lend...Read More
 
The Week Ahead: Beige Book, Treasury Auctions, Trade Balance
9/7/2010 7:41 AM

Posted To: MBS Commentary

September began on a strong note last week as the Dow jumped almost 3%, or 297 points. Whether the strength continues this week could depend on the Federal Reserve’s assessment of the economy (Wednesday) and trade balance figures (Thursday), but there isn't much data on tap s...Read More
 
How Did The Employment Report Affect Mortgage Rates?
9/3/2010 3:38 PM

Posted To: Mortgage Rate Watch

It is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report. This release provides four headline measures on the health of the jobs sector. Nonfarm Payrolls: totals the number of jobs that were added to ...Read More
 
All Signs Point to Higher Rates in Week Ahead
9/3/2010 11:48 AM

Posted To: MBS Commentary

NFP has come and gone, let's see where things stand.... The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mortgage rates hit new lows on Wednesday has broken down and...Read More
 
FHFA Establishes New Housing Goals for GSEs
9/3/2010 9:44 AM

Posted To: MND NewsWire

The Federal Housing Finance Agency (FHFA), conservator of Freddie Mac and Fannie Mae (the Enterprises) has established its final housing goals for the Enterprises in 2010-2011. FHFA is required by the Housing and Economic Recovery Act of 2008 (HERA) to set such goals for targeted segments of the mo...Read More
 
Banks Prefer Cash Buyers in REO Sales; Freddie Mac Streamline Refi Program; Originator Capacity Constraints; Comments on Property Flipping
9/3/2010 9:26 AM

Posted To: Pipeline Press

If there's one thing that an investor will never let any originator off the buyback hook for, it's fraud . Not only that, but the penalties can go far beyond merely buying back the loan, and saying' "My bad." Just in the last few days, Laura-Jean Arvelo and Ronald O'...Read More




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