Part-Time Pay May Not Count When Seeking A Mortgage

 

It’s an issue that hasn’t gotten much attention but should be a red alert for first-time buyers and others who supplement their incomes with part-time work: Though part-time earnings are playing an increasingly important role in the post-recession American economy, the income you earn part time may not count when you buy a house.

Isn’t income always income? If you make $42,000 from your regular full-time job and $18,000 more by working part time at a second job, isn’t your gross income $60,000?

The IRS would tell you it is. But mortgage lenders may disregard the $18,000 unless you can document that you’ve been receiving the extra money steadily for two years and the pay is likely to continue.

There might be some wiggle room on this depending on your specific circumstances, but under rules established by the dominant players in the home loan market — Fannie Mae, Freddie Mac and the Federal Housing Administration — part-time income generally isn’t “qualifying income” for mortgage purposes until it has been flowing for a couple of years.

read more at: http://www.latimes.com/business/realestate/la-fi-harney-20130929,0,1029119.story

Coming Soon to IKEA: Solar Panels

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IKEA is perhaps best known for flogging flat-packs of unpronounceable but affordable furniture and modestly-priced meatballs, but the Swedish-owned retailer will soon be adding a surprising new item to its UK stores: solar panels. At $9,200 for a pack of 18 panels, the product will be pricier than most IKEA items, Reuters and the Wall Street Journal report. But the company says it’s still cheaper than the prices their competitors charge, and promises buyers they’ll make their investment back in about seven years thanks to lower bills and government incentives, the Journal reports.

Will solar add value to your home?  Contact the appraisers at www.scappraisers.com they are forerunners in green and energy-efficient home appraisals.

One IKEA case study of a semi-detached house with a south-facing roof in the UK estimates the panels would generate about $1,200 a year for the owners through savings and subsidies, reports Reuters. “You don’t have to care about the environment and climate change, you can just care about the finances,” IKEA’s sustainability chief tells the Journal. And unlike the company’s bookshelves and desks, buyers won’t have to tackle the solar panels with an Allen key themselves—installation and maintenance is part of the package.

Disclaimer: for information and entertainment purposes only

Find the Best Energy-Efficient Window Treatments

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Windows have a huge impact on how our homes look, feel and function, so we want to get them right. But even the best windows have a hard time doing everything we want them to do — let in light and views, keep out the cold, etc. Happily, homeowners can make their windows perform better by choosing energy-efficient window treatments such as insulated curtains and blinds.

 

You can find some great solutions for how to make windows more energy-efficient — and your home more comfortable — without spending a lot of money. You can even make some insulated window coverings yourself.

 

Out the Window

 

Windows are often described as “holes in the wall” for good reason. The U.S. Department of Energy (DOE) reports that windows typically account for 25 percent of annual heating and cooling costs in older houses, and can even be responsible for as much as 40 percent.

 

Even those of us whose homes have high-performance windows want them to work better. “It doesn’t matter whether you get the best window in the world. The first thing that anybody is going to do is change the way it works,” says Peter Yost, vice president for technical services at the publisher BuildingGreen. These changes take place with the addition of blinds, insulated shades, thermal curtains or other coverings.

 

So how do we make window treatments work for us, and still be efficient? To get the most out of our windows, we need them to be adjustable. Depending on the season and time of day, we may want to let in as much light, heat, fresh air and view as possible — or do our best to keep those things out — in the name of comfort, energy efficiency and privacy.

windowRead more: http://www.motherearthnews.com/diy/energy-efficient-window-treatments-zm0z13onzmar.aspx#ixzz2g14OVU1A