Other News & Stories

FHA 203K Loans: Giving You a Chance to Turn a Property into Your Dream Home

Home improvementWhen looking for a new house, you will likely stumble upon a property that is almost perfect to be your dream home; the location is ideal, and the property has great potential, but you need to make several significant improvements.

Without those repairs, that home might not be suitable for living, and you might not be able to afford it as lenders rarely give out loans on a property with problems.

However, do not lose hope, as the FHA 203K loan makes it possible for you turn that property into your dream home.

What is FHA 203K Loan?

Backed by the Federal Housing Administration, the FHA 203K loan program allows you to borrow money for both home purchase and necessary home improvements. You must borrow a minimum of $5,000 but less than the certain maximum limits set by the FHA for the property’s location.

The loan interest rates will also vary, depending on your credit and current mortgage rates. You must finish your renovation project within six months; the FHA will place the funds in an escrow account and pay out your contractors as you complete the improvements.

More importantly, you can only apply for the FHA 203K loan if you are an individual or a nonprofit organization owner, not an investor.

Why Should You Apply for FHA 203K Loan?

Because the FHA 203K Loan gives you the opportunity to make significant improvements to your newly bought property, you get to do the things you want for your dream home. If you want to install energy-efficient roofs, an extra room for guests, or glass splash backs for the kitchen, you are free to do so.

Also, the loan comes with timeliness – if the contractor wants their payout, they have to complete work within six months of work start date. So, you will definitely achieve your dream home in just a matter of months.

But the major reason you should apply for this loan is that you will have the lowest interest rates you can get for home repairs, as the renovation loan is combined together with the mortgage.

The only drawback with FHA 203K loan is that you cannot use it for DIY improvements; you must hire licensed contractors for all the work. But other than that, this type of loan offers a great deal. After all, it gives you a rare chance to turn a property into your dream home.

November 25, 2017 at 1:00 amMind of Money

Recommended Measures For Chemical Spill Cleanup

Barrels of toxic chemicalsWhen it comes to simple spills, one doesn’t have to always call for emergency responders. Just don’t forget to notify the safety officer responsible for your facility.

If you have the right chemical spill kits and other protective equipment on hand, you can easily do the cleaning by yourself. Here are the recommended procedures for handling and cleaning simple spills.

Neutralise bases and acids

The neutralisation process can sometimes be vigorous, often involving large amounts of heat and splashes, but once done, cleaning up the spill would be easy. Neutralise bases with ascorbic or citric acid, and use sodium bicarbonate or soda ash for acids. Get a pH paper to determine when the spill has been neutralised. Mop the spill and rinse it down to your sanitary sewage drain.

Gather and contain the residues

Sweep, scoop, or place any of the cleanup residues into a container. Be sure to enclose dry powders with plastic bags. Additional wrapping may be necessary before the wastes can be transported out of your laboratory.

Stop the spread of vapours and dust

Close the laboratory door immediately if you are handling volatile substances that can produce airborne dust. Use fume hoods to prevent the spread of vapours and dust to other zones, as well as improve air circulation.

Sanitise the area

Use a fan or open your windows to ventilate the space. You might want to ask your environmental health and safety officer to examine the air to guarantee that no harmful vapour is present in the area. In some instances, conventional cleaning products can already provide adequate sanitisation. It is safer to have a pre-arranged kit ready, so you can easily control the spill.

When working with chemicals, it pays to be prepared for spills and have everything you need in one place. This way, you will know which equipment to use and how to handle the situation properly.

November 24, 2017 at 10:39 pmStudy Section

The Skin Cancer Alphabet: The ABCs for Prevention

Doctor checking on her skinBecause skin cancer is the most common form of cancer in the US, you need to learn how to identify its early warning signs. With skin cancer, as with every other illness, early detection and proper treatment are crucial to recovery. But did you know that you play a key role in early skin cancer detection? When you’re familiar with all your skin marks (blemishes, freckles, and moles), you’ll most likely spot changes should they occur.

The rule of thumb is if you spot recent changes in size or color to one of your moles or markings, it’s best that you consult your doctor as soon as possible, advises a prominent dermatologist in Salem. This is especially important if these changes come with crusting, itching, or bleeding and you have a history of cancer in your family.

To that end, you need to be aware of the ABCs skin cancer symptoms that could aid you in identifying potential issues before it’s too late.

A is for Asymmetry

In general, lesions associated with melanoma — the most fatal form of skin cancer — don’t have symmetrical shapes. Most benign (harmless or non-cancerous) moles have symmetrical shapes.

B is for Border

Non-cancerous moles typically have even, smooth borders. Malignant or cancerous moles have undefined, oddly shaped borders.

C is for Color

The color of benign moles is usually tan or brown. On the other hand, moles with multiple hues such as tan, brown, black, and blue or those that have unevenly distributed colors could indicate melanoma.

D is for Diameter

The size of malignant moles is usually about 6mm in diameter, which is roughly the size of a typical pencil eraser.

E is for Evolution

If you notice a mole changing in appearance, it could indicate skin cancer.

It’s crucial to keep in mind that everyone, regardless of skin tone, could get skin cancer. With this in mind, make sure to inspect your moles at least once a month, see your dermatologist or doctor for a thorough inspection of your moles at least once a year, and don’t forget to apply sunscreen diligently.

November 15, 2017 at 1:00 amHead of Health