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

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Home Equity Loan, HELOC Delinquencies Decline

October 15, 2015 2:21 am

In more encouraging news for housing and the overall economy, loan delinquencies fell in two of three home-related categories in the recently released American Bankers Association’s Consumer Credit Delinquency Bulletin. The categories on the decline are home equity loan delinquencies, which fell to 2.90 percent, and home equity line of credit delinquencies, which fell to 1.42 percent.

“There is a strong correlation between rising home prices and falling home-related delinquency rates,” says James Chessen, chief economist of the American Bankers Association. “As the housing market continues to gain strength, we expect home equity loan delinquencies to continue their downward trend.”

Property improvement delinquencies edged up slightly to 0.91 percent. The American Bankers Association (ABA) defines a delinquency as a late payment that is 30 days or more overdue.

“The steady forward march of the economy has continued to strengthen consumers’ financial positions,” says Chessen. “Consumers continue to impress with their ability to manage debt prudently and keep spending under control. The drop in gas prices last year has provided a big boost to disposable income and has freed up money that makes debt obligations a bit easier to handle.”

Source: ABA

Published with permission from RISMedia.


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5 Outdoor Projects That Can't Wait until Next Year

October 15, 2015 2:21 am

(BPT) – Summer may be over, but that doesn’t mean you can’t complete a few exterior DIY projects before colder temperatures set in. If you act fast, you may even have time to enjoy your handiwork this year!

Which projects are best suited for fall? Here are five to get you started, courtesy of the experts at ProWood (ProWoodLumber.com).

1. Close the Cracks – Fall is an ideal time to seal cracks in your driveway before temperature fluctuations make damage worse. Start by cleaning the affected area, followed by applying the proper sealer – the sealer you choose depends on the size of the cracks. You can use concrete or vinyl patches, paints, caulk or grout to seal smaller cracks; larger cracks commonly require a combination of cement and grout. Apply the sealing solution to the crack and let dry before smoothing over.

2. Do That Deck – Installing a deck in the fall guarantees a full summer spent outdoors next year. Treated lumber is perfect for any DIY deck project because it's easy to work with, durable, and can be used to construct railings, stairs and more.

3. Liven Up the Landscape – A livened up landscape can work wonders for your home’s curb appeal. Flower boxes or raised planter beds are a great way to introduce new flowers and create spots of color. You can also surround your shrubs with new wood shavings or small rocks.

4. Fortify the Fence – Fencing your yard provides security for your home, your children and pets. Wood fencing is budget-friendly, and produced in several styles of convenient, prebuilt panels, as well as individual fence pickets. For an even more attractive fence, install color-treated wood fencing that retains a natural cedar-tone or redwood-tone color.

5. Fire Up the Fun – A backyard fire pit is a great place to congregate and one you'll enjoy well into the colder months. If you're seeking a quick addition, purchase a fire pit kit at your local home store. More durable, long-lasting options will require you to dig a trench and lay gravel before applying pavers. The option you choose should depend on how often you plan to use the pit, the appearance you're going for and the time and money you have to spend.

Source: ProWood

Published with permission from RISMedia.


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