Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 9)

Michael Petruccelli says;  Establish a Rendezvous Point. Designate a special meeting place once outside, preferably at the front of the home. Physically count all members.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 10)

Michael Petruccelli says;  Know The Plan. Call 9-1-1 once outside the home.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 11)

Michael Petruccelli says; Know This Life Saving Rule. Instruct all members that no one is to return to the interior of the house once outside.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 6)

Michael Petruccelli says;  Equip Rooms with Escape Ladders. Store a fire escape ladder in each second floor bedroom.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 7)

Michael Petruccelli says;  Keep Flashlights on Hand. A working flashlight or method for signaling out the window of each second floor bedroom should be available and quickly retrievable.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 8)

Michael Petruccelli says;   Utilize Natural Fire Barrier. Sleep with bedroom doors closed, when possible, to prevent the spread of fire and smoke. Teach family members to touch the door for heat before opening.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 3)

Michael Petruccelli says;  Conduct a family meeting. Clearly communicate, verbally and with the use of drawings, the importance of knowing and understanding the procedures to be followed in the event of a fire. Plan a visit to a fire station and let younger members of the household view a firefighter in all his/her gear. Young children are often frightened when encountering a firefighter for the first time.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 4)

Michael Petruccelli says;  Install and test smoke (fire) alarms. Demonstrate the sound of the smoke (fire) alarm in your house by pressing the test button, so that everyone has heard it ahead of time, especially small children. At a minimum, alarms should be installed on each level of the home and in each bedroom. Alarms should be tested monthly, replacing batteries semi-annually.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 5)

Michael Petruccelli says;  Establish Alternate Routes. Ensure two possible exits in each sleeping room with windows and doors that can always be unlocked and opened quickly.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 1)

Michael Petruccelli says;  Each year millions of dollars in property are lost due to residential fires. The Consumer Product Safety Commission (CPSC) estimates that over 350,000 homes are affected by its devastation annually. But worse than any financial cost is the loss of life to pets and family members. Fire safety experts say that 1-2 minutes evacuation time is all that is available in many cases. That's why it is so important to have a Family Fire Escape Plan and to clearly communicate your plan to every member of the family.

Michael Petruccelli asks; What can you do to prepare your family in the event of a home fire? (part 2)

Michael Petruccelli says;  Take a moment to think of all the ways in which your home may be vulnerable to fire. Do you own a gas or charcoal grill? Do you have a dryer? Do you have a refrigerator? Do you often relax in the ambiance of your gas fireplace? Do you know that according to the National Fire Protection Association (NFPA) careless smoking is the leading cause of residential fire deaths?

Michael Petruccelli asks; What is a foreclosure?

Michael Petruccelli says;  The legal process by which a borrower in default under a mortgage is deprived of his or her interest in the mortgaged property. This usually involves a forced sale of the property at public auction with the proceeds of the sale being applied to the mortgage debt.

Michael Petruccelli asks; What is hazard insurance?

Michael Petruccelli says;  Insurance coverage that in the event of physical damage to a property from fire, wind, vandalism, or other hazards.

Michael Petruccelli asks; What is a 401(k)/403(b)?

Michael Petruccelli says;  An employer-sponsored investment plan that allows individuals to set aside tax-deferred income for retirement or emergency purposes. 401(k) plans are provided by employers that are private corporations. 403(b) plans are provided by employers that are not for profit organizations.

Michael Petruccelli asks; What is a 401(k)/403(b) loan?

Michael Petruccelli says;  Some administrators of 401(k)/403(b) plans allow for loans against the monies you have accumulated in these plans. Loans against 401K plans are an acceptable source of down payment for most types of loans.

Michael Petruccelli asks; What is a grantor?

Michael Petruccelli says;  The person conveying an interest in real property.

Michael Petruccelli asks; What is a government loan (mortgage)?

Michael Petruccelli says;  A mortgage that is insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) or the Rural Housing Service (RHS). Mortgages that are not government loans are classified as conventional loans.

Michael Petruccelli asks; What is a Government National Mortgage Association (Ginnie Mae)?

Michael Petruccelli says; A government-owned corporation within the U.S. Department of Housing and Urban Development (HUD). Created by Congress on September 1, 1968, GNMA performs the same role as Fannie Mae and Freddie Mac in providing funds to lenders for making home loans. The difference is that Ginnie Mae provides funds for government loans (FHA and VA).

Michael Petruccelli asks; Where can we be found on the web?

Michael Petruccelli says; Blogger- http://michaelpetruccelli.blogspot.com/,

Wordpress-http://michaelpetruccelli.wordpress.com,
Facebook-http://www.facebook.com/pages/Michael-Petruccelli-Plumlee-Gulf-Beach-Realty/102860923128381,
Twitter- http://twitter.com/mpetruccelli,
Linkedin-http://linkedin.com/pub/michael-petruccelli/14/3b4/a16,
Foursquare-http://foursquare.com/mpetruccelli
Plumlee Gulf Beach Realty-  http://www.plumleeproperties.com

Michael Petruccelli asks; What is Home Equity Conversion Mortgage (HECM)?

Michael Petruccelli says;  Usually referred to as a reverse annuity mortgage, what makes this type of mortgage unique is that instead of making payments to a lender, the lender makes payments to you. It enables older home owners to convert the equity they have in their homes into cash, usually in the form of monthly payments. Unlike traditional home equity loans, a borrower does not qualify on the basis of income but on the value of his or her home. In addition, the loan does not have to be repaid until the borrower no longer occupies the property.

Michael Petruccelli asks; What is a grantee?

Michael Petruccelli says;  The person to whom an interest in real property is conveyed.

Michael Petruccelli asks; What is a home inspection?

Michael Petruccelli says;   A thorough inspection by a professional that evaluates the structural and mechanical condition of a property. A satisfactory home inspection is often included as a contingency by the purchaser.

Michael Petruccelli asks; What is a home equity line of credit?

Michael Petruccelli says;  A mortgage loan, usually in second position, that allows the borrower to obtain cash drawn against the equity of his home, up to a predetermined amount.

Michael Petruccelli asks; What is homeowner's insurance?

Michael Petruccelli says;  An insurance policy that combines personal liability insurance and hazard insurance coverage for a dwelling and its contents.

Michael Petruccelli asks; What is a homeowner's warranty?

Michael Petruccelli says;  A type of insurance often purchased by homebuyers that will cover repairs to certain items, such as heating or air conditioning, should they break down within the coverage period. The buyer often requests the seller to pay for this coverage as a condition of the sale, but either party can pay.

Michael Petruccelli asks; What is HUD median income?

Michael Petruccelli says;  Median family income for a particular county or metropolitan statistical area (MSA), as estimated by the Department of Housing and Urban Development (HUD).

Michael Petruccelli asks; Are retailers gaining sales abroad?

Michael Petruccelli says;  Yes, via their online marketplaces, where e-shoppers capitalizing on the weak U.S. buck are snapping up bargains. These stronger sales are helping offset sagging retail revenues stateside.

Michael Petruccelli asks; Is e-commerce growing at a fast past in other countries?

Michael Petruccelli says; In Brazil, China, Russia and Mexico it is expected to grow at rates of 26% or more annually for the next four years. Luring international customers: Streamlined handeling of duties & taxes, free or reduced shipping and a trend toward buyers paying in their local currency.

Michael Petruccelli asks; Is the U.S. debt mess is taking a toll on Canadian exports?

Michael Petruccelli says;  The U.S. debt mess is taking a toll on Canadian exports. Canada's dollar is heading toward a 2011 high in coming months as investors seek a safe parking place while the debt ceiling debate plays out in Washington. Pricier Canadian products mean U.S. demand for them will continue to fall, and purchases are already down because of Americas slow recovery from recession. But Canada's economy continues to grow. With a 3.2% boost this year and a 3.1% jump next year. Among the bright spots: retail, construction & mining.

Michael Petruccelli asks; What is Joint tenancy?

Michael Petruccelli says;  A form of ownership or taking title to property which means each party owns the whole property and that ownership is not separate. In the event of the death of one party, the survivor owns the property in its entirety.

Michael Petruccelli asks; What is a Judgment?

Michael Petruccelli says;  A decision made by a court of law. In judgments that require the repayment of a debt, the court may place a lein against the debtor's real property as collateral for the judgment's creditor. Alternative spelling is "judgement."

Michael Petruccelli asks; What is a HUD-1 settlement statement?

Michael Petruccelli says; A document that provides an itemized listing of the funds that were paid at closing. Items that appear on the statement include real estate commissions, loan fees, points, and initial escrow (impound) amounts. Each type of expense goes on a specific numbered line on the sheet. The totals at the bottom of the HUD-1 statement define the seller's net proceeds and the buyer's net payment at closing. It is called a HUD1 because the form is printed by the Department of Housing and Urban Development (HUD). The HUD1 statement is also known as the "closing statement" or "settlement sheet."