Cut Summer Utility Bills
Posted on June 30th, 2010
Take a chunk out of your energy bills by monitoring the use of certain appliances.
High utility bills seem to be a major concern during the cold winter months when heat and light usage may be higher than other times of the year. But summer tends to be another season that sees massive spikes in utility costs. Here are some quick ways to cut costs.
Besides shutting lights off when they’re not in use, utilizing fluorescent lights will save more money, reports the Santa Rosa Press Gazette. Fluorescent lights may be more expensive to purchase, but they last 10 times longer than incandescent lamps.
During the warmer months, an air conditioner can drain your wallet.
“During the summer, your air conditioner is the biggest user of electricity,” says the paper. “For many homes, it accounts for more than half of the summer electric bill.”
When not at home, the paper recommends turning the thermostat higher to save energy on cooling costs. Electricity costs between 3 percent and 5 percent more for every degree the temperature is kept below 78. Allowing the home to be a bit warmer while no one is home is a cost-saving tip that people won’t even notice.
Using a fan also helps cool the air without the expense of an air conditioner. Operating an energy efficient model will bring your bill down even lower. The U.S. Environmental Protection Agency and the U.S. Department of Energy say that energy star rated fans are 50 percent more efficient than standard ones.
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Freddie Mac Short Sales Up 600% from 2 Years Ago
Posted on June 30th, 2010
Freddie Mac CEO Ed Haldeman said the company has seen the number of its short
sales increase 600% from 2008 as lenders look to dampen the impact of
foreclosures hitting the marketplace. In a statement put out this week, Haldeman
said Freddie Mac is doing everything it can to prevent more foreclosures, and
that short sales are becoming an ever-popular tool in situations where
foreclosure is imminent and modifications have failed. That number could
increase as the Home Affordable Foreclosure Alternatives (HAFA) program takes
hold. The Treasury Department launched it in April to provide cash incentives to
servicers for conducting short sales and deeds-in-lieu of foreclosure.
RealtyTrac, an online foreclosure marketplace, is even preparing a short sale
report to go long with its usual foreclosure report every month. It won’t be
available until the end of 2010 however. “Foreclosure alternatives like short
sales and deeds-in-lieu help borrowers to avoid the stigma of foreclosure,
shorten the waiting period before they can buy a new home, and may inflict less
damage on their credit reports,” Haldeman said. While short sales still add to
the housing supply and can put pressure on local home values, they often avoid
the lack of maintenance or damage foreclosed homes often display. Since the
middle of 2008, Freddie Mac reported total losses of $84.4bn, according to its
quarterly reports. The company’s plight has forced a directive from the Federal
Housing Finance Agency (FHFA), its conservator, to de-list its and Fannie Mae’s
common stock from the New York Stock Exchange.
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