Ice Dams and Damage to Your Home

Whenever there is snow, you are likely to have troublesome ice dams to follow. Ice dams can cause major water damage and flooding to your home, which requires immediate attention.

As winter advances through cycles of freezing and thawing, buildings and homes experience ice buildup and roof damage. In general, ice dams are formed when attic heat moves up to warm the roof and melts snow at or near the ridge. Snow melts, runs downward and hits the edge of the cold roof, resulting in re-freezing snow. These cycles cause ice to accumulate and back up under shingles. Damage appears in the form of soaked insulation, stained, cracked and damaged sheet rock, damp, smelly, rotting wall cavities and stained, blistered and peeling paint.

Read more...

Completeing Your Dream Home with the FHA 203K Loan!

Another challenge with the existing home inventory on the market is the condition of the property.  Whether it is REOs, foreclosures, short sales, or not, less people are presenting homes for sale in pristine condition.

The FHA 203k loan can help. The 203k can give the buyer the ability to have one loan to purchase and renovate their home at the same time.

Similar to a traditional mortgage with a construction loan added on top, the 203k can be used for the following:

• Remodeling bathrooms and kitchens (even built-in appliances) 
• Replacing a roof, gutters and downspouts
• Adding a second story, afamily room,another bath, etc.
• Completing a basement or attic
• Upgrading plumbing, heating, air conditioning or electrical service
• Installing new siding, energy efficient windows and doors
• AND MUCH MORE!

It is important to hire a general contractor that is familiar with the 203k process and requirements.  Advanced Restoration Corporation, a 203k contractor, was recently featured on NBC News4 New York regarding 203k loans, along with Continental Home Loans.

For more information on 203k loans in New York, please contact the following:

203k Contractor:
Company:  Advanced Restoration Corporation
Contact:  Gary Matzelle
Phone:  (516) 903-4107
Email:  gmatzelle@advancedrestoration.com

Mortgage Banker:
Company:  Continental Home Loans
Contact:  Robert Flower
Phone:  (917) 584-9292
Email:  rflower@cccmtg.com

Looking for REO/Foreclosures?
The REO People
Thomas Becker (Licensed Real Estate Salesperson)
Phone:  (631) 873-8150
Email:  tomsellinghomes@aol.com

Fall Maintenance Around Your Home

Many areas have already had a taste of fall weather, and it’s not far behind for most others. Now is the time to make sure your house and heating system are ready for winter. Here is a brief checklist to guide you through some basic tasks before it is too late:



GROUNDS
Check window wells, dry wells and storm drains for debris or blockage.

Repair any driveway cracks and/or heaved or settled walkways.

Trim all trees and shrubs that are too close to the house.

Check (ideally during a rainstorm) for rainwater drainage away foundation.

Clean and put summer furnishings away.

Drain and store garden hoses.


EXTERIOR SURFACES
Check weathertightness of all exterior surfaces and components.

Check for deterioration of painted or finished areas. If too late for a full paint job, prime and touch-up bare wood surfaces.

Caulk and seal all joints in siding, around windows and doors.

Check and seal any foundation cracks.

Improve weatherstripping at exterior doors and windows as needed.

Reset storms and screens where required.

Look for any signs of insect or pest activity around the foundation and at wood components close to the ground.

ROOF (Use binoculars or hire a professional.)
Check for loose, damaged or missing roofing.

Check eave areas for signs of moisture build-up or damage.

Check the condition of chimneys.

Check flashings for signs of lifting or damage and repair as needed.

Check and clean all gutters (eavestroughs) and downspouts.

ATTIC
Check ventilation openings for nests or other blockage.

Check the position and condition of insulation for uniform coverage.

Look for any signs of excessive moisture or heat buildup.

INTERIOR ROOMS
Check all areas for signs of roof or plumbing leakage.

Have any fireplaces or wood stoves and flues checked and professionally cleaned.

Reset automatic timers for the change in daylight hours.

Check all smoke/carbon monoxide detectors. Replace batteries if over a year old.

Test Ground-Fault Circuit-Interrupters (GFCI’s) using built-in test buttons.

HEATING/COOLING SYSTEMS
Clean all elements of the cooling system.

Remove (or winterize) room air conditioners.

Follow manufacturer instructions for the maintenance of your heating system.

Change or clean heating system filters on warm air systems (now and regularly).

Check heating and cooling systems for any evidence of water leaks.

If present, clean and test the humidifier.

Have your heating system serviced annually by a qualified heating serviceperson before the heating season to keep it functioning efficiently and properly.


PLUMBING
Drain exterior water lines and open taps (in cold areas).

Insulate water lines that are subject to freezing.

Check the condition and temperature setting of the water heater. Follow the manufacturer’s recommendations for the temperature setting.

Check the plumbing system and fixtures for any evidence of water leaks or blocked drains.

Confirm proper operation of any sump pumps and free flow of the drain line.

Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. More home safety and maintenance information is available online at http://www.longisland.housemaster.com/ or contact Matthew Kaplan at (800) 805-1122.
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Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.

When disasters strike, Advanced Restoration is ready to respond 24 hours a day, 7 days a week.

Common Origins of Fire Damage

Fire Starters

Fires have their origins and are classified accordingly.  Like any other kind of manmade disaster they have a starting point. The following are the most common starting points of fire along with some description of how they generally start:

Electrical – fires that originate from this source are due to overblown fuses and short circuits that throw spark.  Frayed wires which overheat in time make combustion possible.  Improper wire connections within the house structure must be promptly corrected.  Many fires that come from an electrical source do not emit any flame at first to show that fire is present.  But a smoke coming from any electrical source should not be taken lightly because of the fact that electrically originated fires are not known to cause a full blown flame.

Candles – candles are normally used when electric power is out and during special occasions.  To be on the safe side, trim the candle’s wick once it gets too long making the flame too large. Remove any flammable material like paper, linen, etc that may be caught by the flame.  Always position the candle at a safe distance from wind blown curtains, and use appropriate candle holders that will hold the candle upright to prevent it from toppling and causing a fire.  Be sure to put off any lighted candles before going to sleep.

Smoking – it is better not to smoke inside the house, but if you do then make sure to use ashtrays and to put out the cigarette before you retire to sleep or rest.  Also make it a habit to throw your unlit cigarette butts into proper waste receptacles to avoid littering.

Cleanup and Restoration

In case of a fire disaster, most residential owners due to the lack of any financial resources may want to do the cleaning and restoration procedures by themselves along with the other family members.  While this may sound practical and cost saving, the truth is you are facing a very daunting task of cleaning up the mess and restoring the house to its pre-fire disaster condition, consequently spending more money than expected. 

It would also entail an unnecessary length of time to accomplish the task because you do not have the appropriate tools, equipment and gear necessary to do the job efficiently and properly.  It is commonly suggested that an expert or professional fire damage cleaner is hired to do the job.  For at least they have the experience, the knowledge, correct equipment and adequate manpower to engage with the after effects of the fire.  Just make sure that the professional fire damage cleaner you hire has all the legal documents and certificates to prove that they can do the task of proper cleaning and restoration.

Fire may be inevitable but with the steps and tips above, it can be prevented or at least, damages may be mitigated.

Source:  Restoration Resource
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Advanced Restoration is a preferred service provider for insurance companies and services the New York Metro area.  Emergency Service.... (800) 693-6263. 

Protect Yourself From Water Damage and Floods

Source: Federal Alliance for Safe Homes

Floods are one of the most powerful, deadly, and destructive natural disasters.

There are a number of relatively inexpensive steps you can take to protect your home and property before a flood strikes.

If you are building or retrofitting your home consider these recommendations:

Elevate your home

• Consider wet flood proofing An example of wet flood proofing is installing flood vents that create permanent openings in the foundations walls so water can flow through the structure.
• Dry flood proofing prevents floodwaters from entering the building. Install new brick veneer over asphalt coating and apply polyethylene film over existing walls.
• Construct non-supporting, break-a-way walls designed to collapse under the force of water without causing damage to the house or its foundation.

Additional Recommendations

Here are some additional recommendations to protect your home from floods. Some are simple and inexpensive; others require a professional contractor.

• Locate the main electric panel and elevate all electric outlets, switches, light sockets, baseboard heaters and wiring at least 12" above the projected flood elevation. In areas that could get wet, connect all receptacles to a GFI circuit to avoid the risk of shock or electrocution. Have electrical wiring done by a licensed electrician.
• Elevate the furnace, water heater, washer and dryer, outside air conditioning compressor, heat pump or package unit at least 12" on a base of masonry, concrete or pressure treated lumber.
• Anchor fuel tanks securely to the floor. Make sure vents and fill line openings are above projected flood levels.
• Install a floating floor drain plug at the current drain location. If the floor drain backs up, the float will rise and plug the drain. Also have a licensed plumber install an interior or exterior backflow valve to prevent floodwater causing sewage to back up and enter your home. As a last resort, use large corks or stoppers to plug showers, tubs or basins.

Get Flood Insurance

One of the most important things you can do to protect your home and family before a flood is to purchase a federal flood insurance policy. But don't wait until a flood is coming. It normally takes 30 days after purchase for flood insurance to go into effect. 

Have flooding or water damage that requires immediate response?

Advanced Restoration staff is On-Call 24 hours a day, 7 days a week to respond to your water damage/flood situation.  We understand that the sudden intrusion of water is not something that anyone can be totally prepared for.  You will always talk to one of our knowledgeable, caring team members, day or night.  If we are unable to assist you, we will offer you our best professional advice.  At Advanced Restoration, we pride ourselves on immediate response to all types of water damage situations. Our coverage area includes Nassau  and Suffolk County, NY and the NY boroughs. Call Us at (800) 693-6263.

Ineligible 203k Streamlined Repairs

What items remain ineligible for the Streamlined (k) program?

FHA's Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser.

A question that has consistently come up over the past few weeks has been related to 203k streamlined repair exclusions.

Per HUDs' Mortgagee letter 2005-50, the following information will help identify what is not covered if you are applying for a 203k Streamlined loan.

Properties that require the following work items are not eligible for financing under the Streamlined 203(k) program:
· Major rehabilitation or major remodeling, such as the relocation of a load-bearing wall;
· New construction (including room additions);
· Repair of structural damage;
· Repairs requiring detailed drawings or architectural exhibits;
· Landscaping or similar site amenity improvements;
· Any repair or improvement requiring a work schedule longer than six (6) months; or
· Rehabilitation activities that require more than two (2) payments per specialized contractor.

Mortgagors may not use the Streamlined (k) program to finance any required repairs arising from the appraisal that do not appear on the list of Streamlined (k) Eligible Work Items or that would:

· Necessitate a “consultant” to develop a “Specification of Repairs/Work Write-Up”;
· Require plans or architectural exhibits;
· Require a plan reviewer;
· Require more than six months to complete;
· Result in work not starting within 30 days after loan closing;
· Cause the mortgagor to be displaced from the property for more than 30 days during the time the rehabilitation work is being conducted. (FHA anticipates that, in a typical case, the mortgagor would be able to occupy the property after mortgage loan closing).

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Advanced Restoration Corporation is a full-service restoration contractor with the ability and 203(k) knowledge to provide complete Rehabilitation & Restoration services to your new home!

For more information about 203(k) loans and partnering with Advanced Restoration, please contact Gary Matzelle at (516) 903-4107.

Rehab Your Foreclosure with a 203k Loan!

You are thinking about buying a home foreclosure on Long Island, but the properties you are looking at need serious rehabilitation.

What Can You Do?

You may want to apply for an FHA 203(k) restoration loan through an approved lender!

The purchase of a house that needs repair is often a catch-22 situation, because the bank won't lend the money to buy the house until the repairs are complete, and the repairs can't be done until the house has been purchased.

HUD's 203(k) program can help you overcome this obstacle by enabling you to purchase or refinance a property plus the cost of making the repairs and improvements in one mortgage. The FHA-insured 203(k) loan is provided through approved lenders nationwide and is available to persons wanting to occupy the home.

The downpayment requirement for an owner-occupant (or a nonprofit organization or government agency) is approximately 3.5% of the acquisition and repair costs of the property.

The 203(k) loan includes the following steps:

A potential homebuyer locates a fixer-upper and executes a sales contract after doing a feasibility analysis of the property with his/her real estate professional. The contract should state that the buyer is seeking a 203(k) loan and that the contract is contingent on loan approval based on additional required repairs by the FHA or the lender.

The homebuyer then selects an FHA-approved 203(k) lender and arranges for a detailed proposal showing the scope of work to be done, including a detailed cost estimate on each repair or improvement of the project.

The appraisal is performed to determine the value of the property after renovation.

If the borrower passes the lender's credit-worthiness test, the loan closes for an amount that will cover the purchase or refinance cost of the property, the remodeling costs and the allowable closing costs. The amount of the loan will also include a contingency reserve of 10% to 20% of the total remodeling costs and is used to cover any extra work not included in the original proposal.

At closing, the seller of the property is paid off and the remaining funds are put in an escrow account to pay for the repairs and improvements during the rehabilitation period.

The mortgage payments and remodeling begin after the loan closes. The borrower can decide to have up to six mortgage payments (PITI) put into the cost of rehabilitation if the property is not going to be occupied during construction, but it cannot exceed the length of time it is estimated to complete the rehab.

Escrowed funds are released to the contractor during construction through a series of draw requests for completed work. To ensure completion of the job, 10% of each draw is held back; this money is paid after the lender determines their will be no liens on the property. It is essential for a borrower to select a general contractor (restoration company) that is familiar with the 203k loan process, including the required forms and documents.

Streamlined 203k Loan

FHA's Streamlined 203(k) program permits homebuyers to finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. With this new product, homebuyers can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or FHA appraiser.

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Advanced Restoration Corporation is a full-service property restoration contractor with the ability and 203(k) knowledge to provide complete Rehabilitation & Restoration services to your new home or refinance! We service the New York Metro area (Nassau County, Suffolk County and the NY Boroughs).

For more information about 203(k) loans and mortgage professionals authorized to generate FHA 203(k) loans, please contact Gary Matzelle at (516) 903-4107.

Advanced Restoration: Water Problem Solvers

Advanced Restoration Corporation is a full service property damage restoration company located in New York (Long Island). Recently, our company was hired by a client that was referred to us via an insurance agent to resolve a perplexing water damage situation.

The Problem?
Our client's basement was recently flooded after very heavy rains hit Long Island. The customer had previously asked numerous restoration/plumbers/water proofing companies to come and locate the source of the water (which may be an issue with insurance coverage). None of the companies contacted by the client were able to find where the water intrusion was coming from. Advanced Restoration subsequently received a call from the agent/client asking for help.

The Solution
Advanced Restoration's Eric Martin immediately responded with two Senior Structural Estimators to the site to review the situation and find the source of the water intrusion. After a comprehensive assessment of the situation, they located the water source in 20 minutes!

Advanced Restoration staff determined there was a broken pipe in a sewer drain, in the parking lot, which caused water to enter through the chimney and into their basement storage area. By finding the source, Advanced Restoration proved that it was not "seepage" and the insurance company now had to cover the damages to the basement/property structure. Our client was extremely satisfied with our services, as well as the insurance agent for our experience, professionalism and expertise.

As a full service restoration company, Advanced Restoration is ready to respond to all aspects of
a disaster situation, including fire and smoke damage, water/flood damage, mold and structural damage. For more information, call (800) 693-6263, or visit us on the web at

http://www.advancedrestoration.com/.

Help Us Help You!

Protect Your Home When Disaster Strikes!

TOP 5 WAYS TO PROTECT HOMES FROM HURRICANES

The Institute for Business & Home Safety (IBHS) has outlined five ways to better protect homes from damaging wind and rain this hurricane season:

1. Shutter all openings

2. Secure loose roof shingles

3. Seal openings, cracks and holes

4. Strengthen soffits

5. Survey surroundings

1-Shutter all openingsThe most important thing you can do to improve the chance your home will survive a hurricane is to protect all windows and doors. The range of products on the market today means it’s easier to find protection that fits your budget. Whatever you choose, make sure the product has the proper approvals for wind pressure and large-missile impact. If it’s not a permanent product, install permanent fasteners ahead of time so installation is easier when storms threaten. Gable end vents can be shuttered as if they were a window. Garage door companies have bracing systems available for about $400 that should work for most door styles.

2-Secure loose roof shinglesKeeping shingles attached is critical. If the edge shingles are not well fastened or extend beyond the drip edge more than a 1/4”, high wind can lift them off and create a peeling process or domino effect. If they come up without much effort (older shingles become brittle and may crack when bent too much), secure them with three one-inch dabs of roofing cement under each tab.

3-Seal openings, cracks and holesWater can invade homes in a number of ways, especially when it’s being blown horizontally. The problem is compounded if there’s a loss of power and air conditioners or dehumidifiers are unable to dry things out. Fill holes where wires, cables and pipes enter and exit the house and seal around electrical boxes and circuit breaker panels. Seal cracks around wall outlets, dryer vents, bathroom and kitchen vents, and wall lights.

4-Strengthen soffits (the material covering the underside of your roof overhang)Keeping soffits in place can help keep water out of your house. Some have wood supports but the soffit material is not adequately fastened to the wood or there is no wood backing and the vinyl or aluminum channels are stapled or nailed to the wall. If there are wood supports, secure soffit material with sharp-pointed stainless steel screws. If the channels are just nailed to the wall, you can use polyurethane caulk to seal the channel to the wall and tie the parts together.

5-Survey surroundings and limit potential flying debrisLimiting possible sources of wind-borne debris before a storm will help protect your home and those around you. Replace gravel/rock landscaping materials with shredded bark. Limit yard objects. Keep trees and shrubbery trimmed. Cut weak branches.

For more information http://www.disastersafety.org/.

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Knowing who to call for help when your company's Business Continuity Plan gets activated is just as important as having a disaster plan. At Advanced Restoration, we understand that an unforeseen event impacting a property structure can be devastating to the occupants of the structure.

That is why we offer our Emergency Response Partnership Plan (ERPP). When a property loss occurs, valuable time is usually lost from when the situation occurred to the subsequent time taken by occupants to determine how to proceed, or who to call. Having a plan in place saves crucial time, valuable belongings, and minimizes business disruption! Contact us for more information at (800) 693-6263, or visit us on the web at www.AdvancedRestoration.com.

Drowning in Water Damage?

Another wet weekend in New York and water is seeping into your basement! Heavy rain is just one way you may get wet when you least expect it.

Water damage arises from fire damage, broken pipes, blocked drains, malfunctioning appliances, storms and other causes. The appropriate treatment on the nature of the damage. Some water carries contaminents and should be considered hazardous.

Whatever the origin, the prospects for restoration depend largely on the speed with which your building/home and personal property can be dried. Even clean water can generate mildew and other bacterial growth if neglected.

Some "to do" tips to help you after water damage occurs:

• Ensure you ventilate wet areas. Turn on air conditioning for accelerated drying in summer (if there is no visible mold)); in winter, alternate cycles of opened windows and heating.
• Remove standing water from flat surfaces by sponging and blotting.
• Take up saturated rugs and carpets when hardwood floors are at risk.
• Stay out of rooms where ceilings are sagging from retained water.
• Remove lamps, telephones and decorative items from wet furniture tops.
• Open drawers and cabinet doors for interior drying, but do not force stuck drawers or doors.
• Place aluminum foil squares, china saucers or wood blocks under furniture legs to avoid carpet staining.
• As soon as possible, call a professional water damage specialist for emergency drying.

Do Not...

• Operate televisions, vacuums, computers or other electrical appliances while standing on wet carpet or floors, especially wet concrete floors. Serious injury may result.
  
• Use heat to dry closed building interiors, mildew and expanded moisture may result.


• Leave wet fabrics in place; space them apart and dry as soon as possible.

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24/7 Emergency Service
Advanced Restoration staff is On-Call 24 hours a day, 7 days a week to respond to your water damage/flood situation. We understand that the sudden intrusion of water is not something that anyone can be totally prepared for. You will always talk to one of our knowledgeable, caring team members, day or night. If we are unable to assist you, we will offer you our best professional advice. At Advanced Restoration, we pride ourselves on immediate response to all types of water damage situations.

Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.

When disasters strike, Advanced Restoration is ready to respond 24 hours a day, 7 days a week. You are guaranteed to speak with one of our knowledgeable, caring team members, day or night. Our immediate response to a claim/property loss helps minimize the damages to the structure, contents, and ease the sometime catastrophic effect that a disaster may have on an owner or occupants.

203k Loans Made Simple? Yes, for Your Clients

Excellent article on 203k loans...

Source: Colleen Craig
Santa Clarita, CA
More about Colleen…
Southern California Mortgage Professional
Office Phone: (661) 310-8536
Cell Phone: (661) 310-8536
Email Colleen

http://www.colleencraig.com

203k MADE SIMPLE?

Okay, maybe not, but I will attempt to make it as simple as possible for the client to understand and want to read on. For many of us in the business who are " in the know" we forget that we need to go back to the basics and spell it out in simple terms for others to understand. So I've compiled some information based on my most recent commonly asked questions just this week.

In Southern California, FHA loans were just not utilized over the past 10 or so years because of the FHA Maximum Mortgage limits But now that the limits have been increased and the prices have decreased, FHA loans have become the most utilized loan in recent months. HOWEVER, because it was not a popular loan, you would be amazed at how many lenders/brokers do not know what they are doing. Especially when it comes to the 203k loan. I spoke to a client today that was given such mis-information it made me cringe.

Apparently they told the client that 203k loans were no longer being done (Gee, you think it was after realizing that they had no idea what they were doing?) and they tried to flip them into another loan. This was after telling my client that their loan amount would be for the contract price and the extra money would just be separate and sit in an impound account to be disbursed over the next 6 months. Okay partially true, the extra amount would be in escrow to be disbursed as the remodel progressed, but for free? Who pays for the extra 50,000 dollars you just borrowed for repairs? Your loan amount is for the entire amount you are borrowing. Makes sense right?

So what is a 203k loan and why use one?
When a buyer wants to buy a home that needs repairs utilizing FHA financing, normally the repairs would have to be completed prior to the close of escrow. The repairs would normally fall on the responsibility of the seller. With so many foreclosures in today's market, the bank is the seller. And many times the home in need of repair is listed "as is". Which in the past would require a cash buyer or conventional financing. This is another reason that people in the business decided to shy away from FHA loans. I believe it was pure ignorance of the programs that were available by the brokers and the realtors couldn't properly prepare their seller for what to expect that gave FHA loans a bitter taste.

My associate Jeff Belonger said it best in his post about ignoring what your listing agent tells you about FHA loans

Here we go....203k loans for dummies

* 203k loans allow you to FINANCE the cost of the repairs in the new loan amount. (Not to exceed 110% of the after improved value determined by the appraiser and 203k consultant) What does this mean? I buy a house for 200,000 that needs 50,000 in repairs and I can borrow the extra 50,000? Too good to be true? NOPE. That's it in a nutshell....

details please.........

* Down payment is based on the sale price PLUS the final cost of the repairs x 3.5% so for example:
Sale price is 200,000 (DO not calculate 3.5% on this) PLUS 50,000 in repairs/costs (which includes certain costs and reserves the lender will require) 250,000 x 3.5%. Down payment is $8750.00 (closing costs are separate as usual)

* Buyer will hire (lender can recommend) a HUD approved FHA 203k Consultant to go to the property with the buyer to determine the required repairs and wish list repairs.
The fee charged by the consultant can be included in the mortgage. The fee can range anywhere between $ 400 to $1200 depending on the repairs required. Please check with the consultant prior to scheduling your appointment.

*Buyer will obtain estimates from several licensed contractors for the work to be completed depending on how extensive the repairs.

Three estimates are recommended for each contractor but not necessary. The buyer can act as their own general contractor only if experienced and licensed. (FHA says experienced, but most investors require the buyer to be licensed) The contractors must provide documentation to be approved by the lender prior to approval.

The consultant will determine the "required" repairs versus the "wish list repairs". You must start with the required repairs and then move on from there for you wish list. This is an important step for the consultant and appraiser so that you don't over improve the home and exceed the comparable properties in the area.

* Once the consultant completes his report of required and wish list repairs, the lender will forward it to the appraiser for an "After Improved Value". This is where you may run into problems with OVER improving the property based on current values. Between the consultant, appraiser and buyer - the FINAL FINAL report will be tweeked to come up with a final report that the contractors will be hired to do.

* So now the file is submitted to underwriting and approved ( you need to qualify at the full amount you are borrowing of course, which may include your current mortgage payment for the home you will live in during the rehab period) and the normal steps for closing will occur.
(BIG PLUS - you can include 6 months of mortgage payments in the new loan amount since it's assumed that you will have TWO housing payments during the rehabilitation of the new home. This money will be deducted each month during the reahab process) This is optional.
* Closing occurs, and the work begins within 30 days of closing/funding. (This is when your mortgage payments start since this is when you started borrowing the money - however, if you included the 6 mths mtg payments, they will be deducted from escrow starting when your first payment is due)

* Disbursements are made throughout the following 6 months from the escrow account (normally 4 draws with one final inspection, but this can be increased for higher repair amounts) as the work is completed.

Remember you paid the seller for the price of the home, and then you borrowed an additional amount of X which is sitting in an escrow account to pay the contractors (your total loan is the total amount you borrowed)

Once the last disbursement is made and the final inspection showing COMPLETED AS PER THE CONTRACT........you are done! Simple as 1 2 3 - okay maybe not, but that's why having an experienced lender on your side is crucial!

There are specific properties and repair requirements for this type of loan, so please call me for specific details if this sounds like the right loan for your new home.
Please send me your before and after pics! I would love to see them and maybe even post them for people to see what can be done with this awesome program! Or contact Colleen Craig FHA 203k Specialist for more details

Happy Rehabbing!

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Advanced Restoration Corporation is a full-service restoration contractor with the ability and 203(k) knowledge to provide complete Rehabilitation & Restoration services to your new home!

For more information about 203(k) loans and mortgage professionals authorized to generate FHA 203(k) loans, please contact Gary Matzelle at (516) 903-4107.

CPSC Alert: Air Compressor Recall Due to Fire Hazard

Campbell Hausfeld Recalls Air Compressors Due to Fire Hazard; Sold Exclusively at Wal-Mart

FOR IMMEDIATE RELEASE

June 17, 2009 Release # 09-245

WASHINGTON, D.C. - The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed.

Name of Product: Campbell Hausfeld Air Compressors
Units: About 16,000
Importer: Campbell Hausfeld, of Harrison, Ohio

Hazard: The compressor’s thermal overload, which shuts the unit off when it overheats, can fail. This can lead to overheating, melting of parts and a risk of fire.

Incidents/Injuries: None reported.

Description: The recall involves the Campbell Hausfeld model HU200099AV air compressor with a 20-gallon tank. The recall includes date codes ranging from January 2009 through June 2009. The model number and date code can be located on the back of the tank.

Sold at: Wal-Mart stores nationwide from January 2009 through June 2009 for about $250.
Manufactured in: China

Remedy: Consumers should immediately stop using the recalled air compressor and return it to any Wal-Mart for a full refund.

Consumer Contact: For additional information, contact Campbell Hausfeld at (800) 241-0448 between 8 a.m. and 4:30 p.m. ET Monday through Friday or visit the firm's Web site at www.chpower.com

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Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.

Disaster Mitigation...Buying Insurance

DISASTER MITIGATION... BUYING INSURANCE
By Chris Floyd Disaster Services Director Capital Area Chapter American Red Cross

Even with adequate time to prepare for a disaster, you still may suffer significant, unavoidable damage to your property. That's when insurance for renters or homeowners can be a big help. Yet, many people affected by recent disasters have been underinsured- or worse- not insured at all. Make sure the insurance you buy protects against the perils you face.

If You Own a Home...

• Buy, at minimum, full replacement or replacement cost coverage. This means the structure can be replaced up to the limits specified in the policy. • Investigate buying a guaranteed replacement cost policy. When and where available, these policies can pay to rebuild your house, including improvements, at today's prices, regardless of the limits of the policy. • Have your home periodically reappraised to be sure the policy reflects the real replacement cost.• Update the policy to include any home improvements, such as basement refinishing. Annual automatic increases may not be enough to cover these. • Buy a policy that covers the replacement cost of your possessions. Standard coverage only pays for the actual cash value (replacement cost discounted for age or use). • Be very clear about what the policy will and will not cover, and how the deductibles work (the part you pay before the policy pays). • Check state-operated or federally operated insurance pools if you find it difficult to obtain private coverage because of a recent disaster. Premiums often run higher than market rates, but this is better than no coverage. • Conduct a home inventory, make a list, and use it to check that your policy's coverage matches the value of your possessions.

If You Rent...

• Buy renter's insurance, which pays for damaged, destroyed, or stolen personal property. Your landlords insurance wont cover damage to or loss of your possessions. Also, consider special coverage like flood insurance for your belongings. • Be clear about what a policy will cover. Some policies cover more than others. For example, will the policy pay for living expenses if you have to live somewhere else temporarily, or for damage from sewer backup? • Comparison shop for the best coverage at the best price. Policies vary from company to company. Policies in most areas are very affordable. Start with the company that insures your car. Discounts are often available if you carry more than one policy with a company.

You may also want to consider special coverage as insurance for renters and homeowners won't cover certain types of losses. Ask your insurance agent or financial planner about special or additional coverage for floods, earthquakes, home offices, and other potential problems.
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Advanced Restoration Corporation is a full-service property damage/disaster restoration company that has been serving Long Island and the New York metropolitan area for over 20 years.

The company offers the highest quality residential, commercial and industrial property restoration and remediation services available. Our qualified and professional staff is capable of handling all aspects of fire & smoke damage, mold remediation and water damage. Emergency response teams are available 24/7 to promptly execute the required services for a customer.

Advanced Restoration is a member of multiple industry associations, including NYARM, BOMA, PIA, YIP, IICRC, NARI, NIDR and RIA. We are licensed in Nassau and Suffolk County, as well as the five boroughs of New York City.

Please contact Gary Matzelle at (516) 903-4107 with any questions, or send an email to gmatzelle@advancedrestoration.com. Our corporate website can be viewed at www.advancedrestoration.com.

What is a Certified Restorer?

Fire Damage, Smoke Damage, Water Damage, Mold Remediation...

There are numerous Restoration companies throughout Long Island and the New York Metro area, but only a handful hold the title of Certified Restorer (CR). Disaster recovery is essential to any property structure, and Certified Restorers have the experience and ability to ensure all aspects of property damage are handled with the utmost professionalism. Advanced Restoration Corporation is one of the primary companies on Long Island with the CR designation.

Certified Restorer

The Certified Restorer program is a week-long master's course in damage repair offered to experienced contractors and restorers. The program's objective is to raise committed restorers to a higher level of professional ability.

The course addresses both buildings and personal property and is based on the structure and nature of materials, with the effects of various perils. A section on restoration theory addresses the mechanisms by which residue odors are removed. Toxic contamination, allergic response, water damage, contracts and insurance are also covered. The Certified Restorer course is widely recognized as the pre-eminent training program in damage repair.

Experience

All candidates to the Certified Restorer (CR) Program must be actively involved in restoration work at the time of application and have 3 or more years of active experience in disaster damage restoration as a technician, supervisor or estimator. The company or employer must be a member in good standing of RIA International.

Education

CR candidates must have attended one NIDR or WLI seminar or an RIA convention in the 12 months preceding the CR school.

Candidates must complete the Certified Restorer School and successfully pass the written examination with a score of 80% or better.

Ethics Quiz

Candidates must complete an Ethics Quiz administered by the course instructor or a designated member of the CR Committee. A thorough understanding of the NIDR Code of Ethics and the Certified Restorer Code of Conduct is required.

Formal Report

On completion of the class, candidates must prepare a formal report or a thesis on an approved research topic.

Maintaining Certified Restorer Status

Certified Restorers must participate in a recertification program and maintain current membership in RIA International in order to retain their CR status. All CR continuing education is based on a three-year continuous cycle. Cycles for newly inducted CRs begin on the January 1 following the date of induction. All CRs are required to participate, and all required points must be earned within the time frame.

For more information on the Restoration Industry Association's advanced designations: CR, WLS, CRS, CMH, CMP and CFS, please contact the RIA Education Department at 443-878-1000.

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Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.

Advanced Restoration is also an expert in partnering with mortgage companies and families buying homes on Long Island. We are experienced in dealing with FHA approved 203 (k) loans associated with foreclosures, as well as streamlined 203(k) loans. For more information on having Advanced Restoration become your 203(k) contractor, please contact Gary Matzelle at (516) 903-4107.

Advanced Restoration Corporation Joins Disaster Kleenup International

Disaster Kleenup International, Inc., North America's largest disaster restoration contracting organization, today announced that Advanced Restoration Corporation of West Babylon, New York, has joined the DKI network. Advanced Restoration Corporation has provided insurance restoration in the West Babylon marketplace since 1990.

By virtue of its DKI membership, Advanced Restoration Corporation can employ DKI's 24 hour call center, its DIAMOND claims tracking technology, and other tools to enhance their ability to serve their insurance and corporate customers. Advanced Restoration Corporation also gains access to DKI training seminars and workshops which ensure that they remain abreast of all changes in this rapidly evolving industry.

"We are delighted to welcome Advanced Restoration Corporation into the rapidly growing DKI network," stated Dale Sailer, DKI's President. "Advanced Restoration Corporation's commitment to quick response, superior workmanship and outstanding customer service reaffirms DKI's position in the marketplace as The Source for Quality Restoration. We look forward to a long and rewarding association."


Advanced Restoration Corporation President Brian G. Martin is pleased that the company is a part of the DKI network, giving them the opportunity to work in partnership with other quality firms. The DKI network will allow Advanced Restoration Corporation to expand their scope of service, introduce them to new markets and ensure the company's success long into the future.


In addition to the benefits of DKI's technology and training capabilities, Advanced Restoration Corporation will also be able to utilize the Disaster Kleenup branding in its marketing efforts, participate in its various coop programs, and leverage DKI's corporate marketing efforts.
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### About DKI Disaster Kleenup International, Inc., headquartered in Wood Dale, IL, is the largest disaster restoration organization in North America. DKI member companies provide full service restoration to their customers: emergency response, water damage mitigation, mold remediation, complete reconstruction and much more, 24 hours a day, 365 days a year. DKI returns damaged property to its pre-loss condition quickly and efficiently, delivering complete satisfaction to our consumer, insurance, and corporate customers.


For more information about Disaster Kleenup International, Inc., visit our website at www.disasterkleenup.com or contact Dan Cassara at 630.350.3000 x254 or email at dcassara@disasterkleenup.com. Contact: Dan Cassara Phone: 630.350.3000 x254 Email: dcassara@disasterkleenup.com

Fire Extinguisher Recall Alert

The US Consumer Product Safety Commission recently released information related to Kidde Fire Extinguishers. It is imperative to review this recall information and check the fire extinguishers in your home or business.

Source: CPSC

FOR IMMEDIATE RELEASE

March 12, 2009 Release # 09-151
Firm’s Recall Hotline: (888) 345-4407CPSC Recall Hotline: (800) 638-2772CPSC Media Contact: (301) 504-7908

Kidde Recalls to Replace Fire Extinguishers Due to Failure to Operate

WASHINGTON, D.C. - The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed.

Name of product: Kidde XL Fire Extinguishers
Units: About 167,000
Distributor: Walter Kidde Portable Equipment Inc., of Mebane, N.C.
Hazard: The pressurized cylinders in the recalled fire extinguishers could lose pressure and fail to operate. In the event of a fire, this failure could put a consumer and property at risk.
Incidents/Injuries: None reported.

Description: This recall involves the Kidde XL Fire Extinguishers with model numbers FX340SC, FX340H, FX340GW, XL5MR, FX210R, FX340SC-2, FX210W, XL2.5TCZ-4, E-340-3 and with manufacture dates between October 2007 and April 2008. “Kidde” and the model number can be found on the label on the front of the extinguisher. The manufacture year is on the bottom of the extinguisher. If your extinguisher is one of the listed model numbers and is marked with the year 07 or 08, contact Kidde to determine if you have a recalled extinguisher.

Sold at: Department, home, and hardware stores nationwide from October 2007 through April 2008 for about $35.
Manufactured in: Mexico
Remedy: Consumers should immediately inspect the pressure gauge. If it points to the red zone, contact Kidde to receive a free replacement extinguisher. If the gauge is not in the red zone, but you have questions about an extinguisher within the listed model numbers, please contact Kidde for additional information.

Consumer Contact: For additional information, contact Kidde at (888) 345-4407 between 8 a.m. and 5 p.m. ET Monday through Friday or visit the firm’s Web site at

www.Kidde.com

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Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.

When disasters strike, Advanced Restoration is ready to respond 24 hours a day, 7 days a week. You are guaranteed to speak with one of our knowledgeable, caring team members, day or night. Our immediate response to a claim/property loss helps minimize the damages to the structure, contents, and ease the sometime catastrophic effect that a disaster may have on an owner or occupants. Our company is dedicated to serving our clients with courteous and prompt service. We take the utmost pride in the craftsmanship of our work.

As certified specialists in water mitigation and fire/smoke restoration, we have the knowledge, expertise and experience to deal with all types of property damage. Our professional staff is also trained in all aspects of mold remediation and damage appraisals. Service area: Nassau County, Suffolk County and the NY Boroughs. Advanced Restoration is now a member of DKI.

Fire Recall Alert: Tealight Candleholders

Tealight candles in the home provide a relaxing and tranquil environment for most of us, but proper safety precaution must always be followed to prevent fires. The U.S. Consumer Product Safety Commission just released a fire hazard recall alert related to a specific tealight candle holder sold in the United States...

Source: CPSC

Recall Alert
U.S. Consumer Product Safety Commission
Office of Information and Public Affairs Washington, DC 20207

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March 3, 2009
Alert #09-726

Seventh Avenue Recalls Tealight Candleholders Due to Fire Hazard
The following product safety recall was voluntarily conducted by the firm in cooperation with the CPSC. Consumers should stop using the product immediately unless otherwise instructed.

Name of Product: Tealight Candleholders

Units: About 430

Importer: Berkeley Designs, of Hawthorne, Calif.

Hazard: The faceted resin accents on the sides of the candleholder can ignite, posing a fire hazard.

Incidents/Injuries: Seventh Avenue has received one report of the candleholder igniting resulting in minor property damage. No injuries have been reported.

Description: This recall involves a wire formed tealight candleholder with ball feet. The sides have small and large round resin accents in amber and red. The holder holds up to five tealight candles (included). The model number is 609073 located on the original packaging.

Sold at: Seventh Avenue’s spring 2008 catalogs and online at www.seventhavenue.com from February 2008 through October 2008 for about $10.

Manufactured in: China

Remedy: Consumers should immediately stop using the candleholder and return it to Seventh Avenue for a full refund or store credit, and a $10 coupon. All known users have been contacted.

Consumer Contact: For additional information, contact Seventh Avenue at (800) 991-4442 between 8 a.m. and 12 a.m. CT Monday through Friday, or visit the firm’s Web site at www.seventhavenue.com

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Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.
When disasters strike, Advanced Restoration is ready to respond 24 hours a day, 7 days a week. You are guaranteed to speak with one of our knowledgeable, caring team members, day or night. Call Us at (800) 693-6263.

Foreclosure House Repairs: Get a 203(k) Loan

Foreclosures in Nassau County, Suffolk County and the NY Metro area continue to increase due to the struggling economy. As a result, some homes become neglected over time and develop situations that subsquently require a restoration company to perform repair work. Initiating necessary foreclosure repairs for a property can be accomplished by a potential homeowner applying for a mortgage related to the 203(k) Program.

203(k) Mortgage
The Federal Housing Administration (FHA), which is part of the Department of Housing and Urban Development (HUD), administers various single family mortgage insurance programs like a 203(k) mortgage. These programs operate through FHA-approved lending institutions which submit applications to have the property appraised and have the buyer's credit approved. These lenders fund the mortgage loans which the Department insures. HUD does not make direct loans to help people buy homes.

One Mortgage Loan
When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods.

The Section 203(k) program was designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. To provide funds for the rehabilitation, the mortgage amount is based on the projected value of the property with the work completed, taking into account the cost of the work. To minimize the risk to the mortgage lender, the mortgage loan (the maximum allowable amount) is eligible for endorsement by HUD as soon as the mortgage proceeds are disbursed and a rehabilitation escrow account is established. At this point the lender has a fully-insured mortgage loan.

Advanced Restoration Corporation is a full service property damage restoration company that has the abiltiy to execute all necessary repairs to a property that qualifies for a 203(k) loan.

For more information on FHA 203(k) loans and how Advanced Restoration can partner with you, please contact Gary Matzelle at (800) 693-6263.

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Advanced Restoration Corporation is a family-owned and operated full-service property damage restoration company with a combined 75 years experience in dealing with Fire Damage Restoration, Water Damage Restoration, Flood & Storm Damage, Mold Remediation, Smoke Damage Restoration and Reconstruction. We service Long Island (Nassau County, NY; Suffolk County, NY) and the New York Metro area.

When disasters strike, Advanced Restoration is ready to respond 24 hours a day, 7 days a week. You are guaranteed to speak with one of our knowledgeable, caring team members, day or night. Our immediate response to a claim/property loss helps minimize the damages to the structure, contents, and ease the sometime catastrophic effect that a disaster may have on an owner or occupants.

Our company is dedicated to serving our clients with courteous and prompt service. We take the utmost pride in the craftsmanship of our work. As certified specialists in water mitigation and fire/smoke restoration, we have the knowledge, expertise and experience to deal with all types of property damage. Our professional staff is also trained in all aspects of mold remediation and damage appraisals.