Michael Petruccelli asks; What is a judicial foreclosure?

Michael Petruccelli says; A type of foreclosure proceeding used in some states that is handled as a civil lawsuit and conducted entirely under the auspices of a court. Other states use non-judicial foreclosure.

Michael Petruccelli asks; What is a jumbo loan?

Michael Petruccelli says; A loan that exceeds Fannie Mae's and Freddie Mac's loan limits, currently at $227,150. Also called a nonconforming loan. Freddie Mac and Fannie Mae loans are referred to as conforming loans.

Michael Petruccelli asks; What is a lease?

Michael Petruccelli says; A written agreement between the property owner and a tenant that stipulates the payment and conditions under which the tenant may possess the real estate for a specified period of time.

Michael Petruccelli asks; What is a legal description?

Michael Petruccelli says; A property description, recognized by law, that is sufficient to locate and identify the property without oral testimony.

Michael Petruccelli asks; What is a lease option?

Michael Petruccelli says; An alternative financing option that allows home buyers to lease a home with an option to buy. Each month's rent payment may consist of not only the rent, but an additional amount which can be applied toward the down payment on an already specified price.

Michael Petruccelli asks; What is a leasehold estate?

Michael Petruccelli says; A way of holding title to a property wherein the mortgagor does not actually own the property but rather has a recorded long-term lease on it.

Michael Petruccelli asks; What can I do to help keep my dishwasher in good working condition?

Michael Petruccelli says; 1- Use vinegar to remove mineral deposits from the heating coil. 2- Keep spray arm clean & free of any soap build up. 3- When loading, be sure dishes and utensils do not interfere with the spray arm movement. 4- Periodically use a rinse agent to minimize soap film. 5- Using granular soap rather than a liquid will help reduce the suds level in the dishwasher. Too many suds may cause water to drip from the door. 6- Check for signs of leaks or water stains on the floor and around the door edge.

Michael Petruccelli asks; What is a lender?

Michael Petruccelli says; A term which can refer to the institution making the loan or to the individual representing the firm. For example, loan officers are often referred to as "lenders."

Michael Petruccelli asks; What are Liabilities?

Michael Petruccelli says; A person's financial obligations. Liabilities include long-term and short-term debt, as well as any other amounts that are owed to others.

Michael Petruccelli asks; What can I do to help keep my Dishwasher in good working order?

Michael Petruccelli says; 1-Use vinegar to remove mineral deposits from the heating element. 2-Keep the spray arm clean and free of any soap build up. 3-When loading, be sure the dishes do not interfere with the movement of the spray arm. 4-Periodically use a rinse agent to minimize soap film. 5-Using a granular soap rather than a liquid soap will help reduce the suds in the dishwasher. 6-Too many suds may cause water to drip from the door.
7-Check for any signs of leaks or water stains on the floor.

Michael Petruccelli asks; What can I do to help keep my electrical system in good working order?

Michael Petruccelli says; To prevent loss of power, do not overload any one circuit in your home.

Michael Petruccelli asks; What can I do to help keep my Plumbing Sytem ingood working order?

Michael Petruccelli says; 1-Do not flush any paper products down a toilet other than toilet paper. 2-A simple plunger may solve many of your clogging problems. 3-Check any of your exposed plumbing lines for corrosion or leaks. 4-n the event you are experiencing extremely cold weather, allowing a faucet to drip slowly will help avoid a freezing water line. 5-Check the water heater for signs of leaking or corrosion. 6-Inspect the bottom of your water heater, drain pan or floor for signs of rust or water staining. 7-Drain and flush your water heater every year by attaching a common garden hose to the drain valve at the bottom of the heater. 8-Remove the heating elements from your electric water heater and soak in vinegar to remove any corrosion or sediment build up.

Michael Petruccelli asks; What can I do to help keep my Washer & Dryer in good working order?

Michael Petruccelli says; 1-Assure that the washing machine “legs” are adjusted for a level installation by turning the “legs” counterclockwise to raise and clockwise to lower. 2-Make sure the water level of each wash load is appropriate for the volume of clothes. Do not overload the machine. 3-Remove and clean the lint screen after each drying cycle has been completed. 4-Use a vacuum cleaner to clean behind and underneath both the washer and dryer at least once every three months.

Michael Petruccelli asks; What can I do to help keep my Pool & Spa in good working order?

Michael Petruccelli says; 1-Maintain a proper water level as recommended by the manufacturer. 2-Keep the water chemically balanced by regular testing throughout the season. 3-Have your pool and spa regularly maintained and serviced by a local pool and spa company.

Michael Petruccelli asks; What can I do to help keep my Garbage Disposal in good working order?

Michael Petruccelli says; 1-Remember to always run the water while you are using the disposal. 2-To avoid stoppages, continue to run the water for at least two minutes after you turn the disposal off. 3.Using the disposal with a tray of ice cubes, pieces of lemon or lime, and baking soda will help keep your disposal clean and smelling fresh. 4-If you drop a piece of silverware in your disposal, turn the power off immediately before you attempt to remove it. 5-If the disposal should become jammed, use a disposal wrench which should attach at the bottom of the disposal. Turn the wrench counter clockwise until it turns easily. Press the red reset button on your disposal and the disposal should operate properly

Michael Petruccelli asks; What can I do to help keep my Stove/Oven in good working order?

Michael Petruccelli says; Avoid using heavy or extra-large cooking pots or pans. They can damage your burners or glass top stove. Keep the inside of your oven clean by only using the self cleaning function if available. Use vacuum cleaner to clean under and behind the stove at least once a year. Keep your stove top clean and free of spilled food or grease buildup around burners. Use non abrasive cleaners on glass stove tops.

Michael Petruccelli asks; What can I do to help keep my Microwave in good working order?

Michael Petruccelli says; Do not use any container or dishes that are metal or have any kind of metal trim or edging. Clean the interior with diluted soap and water solution or baking soda. An abrasive cleaner may damage the lining and expose metal causing the unit to fail.

Michael Petruccelli asks; What can I do to help keep my Trash Compactor in good working order?

Michael Petruccelli says; Help prevent odors by replacing the deodorant supply regularly based on the amount of usage. Before running, make sure the bag is properly positioned and secured. Check to make sure when placing garbage in compactor there are no metal or hard pieces of trash that could jam the drawer closure. Wipe out as often as you feel necessary with baking soda or diluted soap & water solution. Help the environment sort your trash & recycle what ever you can before disposing of trash in compactor.

National Lee Denim Day-Oct 7,2011
We have been proud to participate in the National Lee Denim Day. All the donations go to help fight Breast Cancer and for Breast Cancer Awareness. Several of our employees that donated either had the day off or work in our satellite offices & most of our Realtors were showing properties to clients so, they were unavailable for the photo. Our receptionist did her usual "cupcakes for a cure" to help raise more money for the Fight against Breast Cancer.

Michael Petruccelli asks; How do I keep my Heating system in working order?

Michael Petruccelli says; Winter is soon upon us so, this is a great time to do yearly maintenance on your heating system or at least go through the check list to help keep it running smoothly throughout winter. Have your mechanical system annually serviced and your duct-work cleaned before each heating season. Blower units making excessive noise should be brought to the attention of a licensed technician. Clean & dust the radiators and heating vents and inspect the radiators for any signs of leakage. Bleed air from your radiators on an annual basis. Check the exhaust pipe on your gas furnace for any loose connections. Call the gas company immediately if you detect a gas smell. Check filters every month and replace as necessary. Keep your outdoor condensing unit clean and free of debris.

Michael Petruccelli asks; What can I do to keep my faucets flowing properly?

Michael Petruccelli says; A driping faucet may be repaired by simply replacing an o-ring or vinal gasket. Clean & remove any hard water or mineral deposits with vinegar to avoid a slow water flow.

Michael Petruccelli asks; How do I keep my Refrigerator in working order?

Michael Petruccelli says; Use a vacume cleaner to clean behind & underneath the refrigerator at least once a year. Clean & dust the sides and top of your refrigerator also. Check & clean the interior shelves, lining and door gasket every three months. Help the inside of the refrigerator smelling clean by keeping a cup of baking soda in the refrigerator at all times. A slice of lemon or lime will also work.

Michael Petruccelli asks; What is Liability insurance?

Michael Petruccelli says; Insurance coverage that offers protection against claims alleging that a property owner's negligence or inappropriate action resulted in bodily injury or property damage to another party. It is usually part of a homeowner's insurance policy.

Michael Petruccelli asks; What is a lien?

Michael Petruccelli says; A legal claim against a property that must be paid off when the property is sold. A mortgage or first trust deed is considered a lien.

Michael Petruccelli asks; What is a life cap?

Michael Petruccelli says; For an adjustable-rate mortgage (ARM), a limit on the amount that the interest rate can increase or decrease over the life of the mortgage.