Michael Petruccelli asks; What are some methods for controlling groundwater?

Michael Petruccelli says;  Not all water that enters a house comes from the roof or ground surface. Subsurface water, or groundwater, which is typically the result of a high local water table, may try to up-well into a basement through the slab from underground. In a basement this water is most easily controlled by a sub slab sump and electric pump system that collects the under ground water and pumps it to the surface and away from the foundation area. Occasionally, depending upon the size of the basement, a second sump system may be required.

Michael Petruccelli asks; What if water is still getting into my house? (3)

Michael Petruccelli says; In more extreme circumstances, typically houses at the bottom of hills or other high surface water run off areas, swales or other advanced grading techniques may be required to divert surface water around the perimeter of a home. These are typically installed during the final grading stage by the builder of the home.

Michael Petruccelli asks; What if water is still getting into my house? (2)

Michael Petruccelli says;  Moderation in the amount of water sprayed into mulch and flower beds also help to prevent water penetration. Another common source of water is floor drains in recessed exterior stairwells or patios. Annual cleaning of theses drains will ensure that they can preform their designed function of directing water away from the foundation.

Michael Petruccelli asks; What if water is still getting into my house? (1)

Michael Petruccelli says;  Annually cleaning your gutters and installing extensions on the downspouts will typically address any roof water.

Michael Petruccelli asks; What's the simplest and most common method used to divert water away from the property?

Michael Petruccelli says; Methods of preventing water penetration - Gutters and downspouts are used to collect and divert roof water in conjunction with proper grading techniques for surface water around the home.

Michael Petruccelli asks; What should you do after the April showers?

Michael Petruccelli says;  After the April rains have fallen, we eagerly look forward to the beautiful blooms of spring. Those of us with green thumbs and even some without can't wait to get out into the yard and start to immerse ourselves in it all. With all there is to enjoy the very last thing we want to worry about is water problems.

Michael Petruccelli asks; What is Equal Credit Opportunity Act (ECOA) ?

Michael Petruccelli says;  A federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status, or receipt of income from public assistance programs.

Michael Petruccelli asks; What is an encumbrance?

Michael Petruccelli says;  Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions.

Michael Petruccelli asks; What is an encroachment?

Michael Petruccelli says; An improvement that intrudes illegally on another's property.

Michael Petruccelli asks; What is an escrow analysis?

Michael Petruccelli says;  Once each year your lender will perform an "escrow analysis" to make sure they are collecting the correct amount of money for the anticipated expenditures.

Michael Petruccelli asks; What is an escrow account?

Michael Petruccelli says;  Once you close your purchase transaction, you may have an escrow account or impound account with your lender. This means the amount you pay each month includes an amount above what would be required if you were only paying your principal and interest. The extra money is held in your impound account (escrow account) for the payment of items like property taxes and homeowner's insurance when they come due. The lender pays them with your money instead of you paying them yourself.

Michael Petruccelli asks; What is escrow?

Michael Petruccelli says; An item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the earnest money deposit is put into escrow until delivered to the seller when the transaction is closed.

Michael Petruccelli asks; What is an eviction?

Michael Petruccelli says; The lawful expulsion of an occupant from real property.

Michael Petruccelli asks; What is an estate?

Michael Petruccelli says;  The ownership interest of an individual in real property. The sum total of all the real property and personal property owned by an individual at time of death.

Michael Petruccelli asks; What are escrow disbursements?

Michael Petruccelli says; The use of escrow funds to pay real estate taxes, hazard insurance, mortgage insurance, and other property expenses as they become due.

Michael Petruccelli asks; What is an executor?

Michael Petruccelli says;  A person named in a will to administer an estate. The court will appoint an administrator if no executor is named. "Executrix" is the feminine form.

Michael Petruccelli asks; What is exclusive listing?

Michael Petruccelli says;  A written contract that gives a licensed real estate agent the exclusive right to sell a property for a specified time.

Michael Petruccelli asks; What is examination of title?

Michael Petruccelli says; The report on the title of a property from the public records or an abstract of the title.

Michael Petruccelli asks; What is the Fannie MAe (FNMA)?

Michael Petruccelli says; The Federal National Mortgage Association, which is a congressionally chartered, shareholder-owned company that is the nation's largest supplier of home mortgage funds. For a discussion of the roles of Fannie Mae, Freddie Mac (FHLMC), and Ginnie Mae (GNMA), see the Library.

Michael Petruccelli asks; What is the Fair Market Value?

Michael Petruccelli says; The highest price that a buyer, willing but not compelled to buy, would pay, and the lowest a seller, willing but not compelled to sell, would accept.

Michael Petruccelli asks; What is the Fair Credit Reporting Act?

Michael Petruccelli says; A consumer protection law that regulates the disclosure of consumer credit reports by consumer/credit reporting agencies and establishes procedures for correcting mistakes on one's credit record.