If you bought your home with a mortgage of $250,000 and a 6% interest rate, you are currently paying (only on principle) $1500.00 a month.
Today at an interest rate of 3.875% that same $250,000 loan would cost you $968.75 a month. That’s a big difference.
To calcualte how much more you could get, you want to subtract $968.75 from $1500.00 to get $531.25. If you are paying interest per $1,000 borrowed you would then want to divide that amount by the current rate of 3.875% to get 137.
The number you are now going to work with is 137. What does that mean? That means for the same $1500.00 a month you can get $137,000 more house. So what does that mean?
For many people it means a chance to save some money on your home via a refinance. For others it is a chance to “steal a deal” and move up.
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As I read blog post after blog post touting Google+ as the “next most awesome best greatest whatchamacallit” ever, I thought about one simple thing. Is my future client there? Where is the buyer? If consumers are just starting to really get used to, and comfortable with Facebook, LinkedIn and perhaps a bit of familiarity with Twitter, do I really need to go chase them where they are not, or focus on being active in the places where they are.
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Aluminum wiring itself is safe, in fact it is fairly standard in most circuit panels in homes in the 220 volt connections. In the 1960’s and 1970’s in the US many home were built with aluminum wiring, as a less expensive alternative to copper wiring. The problem was not immediately apparent, but as time goes by and aluminum wiring is connected to copper switches, outlets and light fixtures the problem became more apparent. Aluminum contracts and expands at a different rate than copper does. As the wires separate the possibility for arching begins to become a hazard. In 2011 consider what a 50 year old house, with insulation, wood framing and aluminum connections not checked might be ripe for.
People get a little too dramatic about the overall risks of aluminum wiring, and if people spend the time to educate themselves they will very easily learn there are simple options to help keep them, and their home, safe.
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