RE/MAX 440
John F. O'Hara

John F. O'Hara
731 W Skippack Pike  Blue Bell  PA 19422
Phone:  610-277-4060
Office:  215-643-3200
Cell:  267-481-1786
Fax:  267-354-6973

My Blog

A Picture of Household Debt in America

December 10, 2015 1:51 am

Household debt—including mortgages, credit cards, student and auto loans—has reached $11.9 trillion, a sign of progress for the economy, according to a recent report by NerdWallet (www.nerdwallet.com). Though many connote debt with a negative financial situation, certain kinds can be beneficial to building credit, including mortgages and auto loans.

“It's alarming that household debt is on the rise, but it's also important to recognize that not all debt is created equal," says Sean McQuay, credit card associate at NerdWallet. “Under the right circumstances, mortgage, student and auto loan debt can be helpful in building a bright financial future. That said, it's critical for Americans to understand their debt and recognize that certain types of debt are unnecessarily costly.”

Mortgage debt owed by the average household totals $165,892, according to the report. Credit card debt owed by the average household totals $15,355; student loan debt owed by the average household totals $47,712; auto loan debt owed by the average household totals $26,530.

The report also finds the average household is paying $6,658 in interest, which equals approximately 9 percent of the average household income ($75,591).

Source: NerdWallet

Published with permission from RISMedia.


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Is Your Roof Reindeer-Ready?

December 10, 2015 1:51 am

The holidays are fast approaching! Amid the gift-giving, gathering with loved ones and decorating, the season serves as an important reminder for homeowners to make their roofs “reindeer-ready,” or review their roofs.

To do that, the experts at the Metal Roofing Alliance advise completing the following 10 checks, which can be done without a ladder:

1. For homes with asphalt shingles, look for black areas indicating cracking shingles.

2. For homes with shake or shingles, look for pieces that are curled upward, split, broken off or missing.

3. For homes with slate roofs, look for black areas that indicate slate is missing.

4. Look for heavy wear around the valleys, the areas where water runs off the roof into the gutters.

5. Look at the materials around the chimney and vent pipes and check for cracks, gaps and missing or fractured caulking.

6. Check eave overhangs for water damage.

7. Use binoculars to check around the chimney, trim and other flashings for signs of cracks, shingles that are coming up off the roof and general wear.

8. Conduct an interior inspection for stained or discolored ceilings, which most likely indicates roof problems.

9. Check your gutters for asphalt shingle granules.  Lots of granules mean less coverage on your roof. 

10. Remove branches, twigs and leaves from gutters and clear out down spouts to allow for snow and ice run off.

Source: Metal Roofing Alliance

Published with permission from RISMedia.


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