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The winter season has just began, but the winter natural gas rates and its increases are not far behind, so instead of allow those bills to drive you out of house and home contact the agencies below to find out if you qualify for weatherization of your home.

Both homeowners and renters are eligible for both programs.

Gary Neighborhood Services

300 W. 21st Ave., Gary

(219) 883-0431

Metro Corps of Gary Inc.

839 Broadway, Gary

(219) 886-3155

United Neighborhood Organizations - M.L. King Center

4802 Melville Ave., East Chicago

(219) 378-9810

United Neighborhood Organizations - Bessie Owens Center

4001 Alexander Ave., East Chicago

(219) 391-8478

Love Center

4619 Melton Road (U.S. 20), Gary

(219) 938-8085

Lake Station Center

275 E. 29th Ave., Lake Station

(219) 963-0261

Greater Hammond Community Services

824 Hoffman, Hammond

(219) 932-4800

Porter County Community Services

1005 Campbell St., Valparaiso

(219) 464-9736

Ross Township Trustee Office

24 W. 73rd Ave., Merrillville

(219) 769-2111

South Lake County Community Services Inc.

1450 E. Joliet, Suite 202, Crown Point

(219) 663-0627

You may be wondering what is weatherization and how does it keep you warm.  Weatherization consist of the windows, doors, furnace, attic, etc.  It is anywhere that unwanted air can get into the home.  When you use the furnace in the winter and your windows and doors are not properly sealed then you are letting money flow out the window.  The weatherization contractors come to your home and evaluate those items for you and with the help of a grant of up to 6500 per home they caulk leaking windows, weather strip doors, replace or repair a furnace, and/or insulate an attic or walls.

If your home is drafty or your NIPSCO bill is too high contact one the agencies to find out if you qualify for a savings on your NIPSCO bill of up to 500 to 600 dollars after work is complete.

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• Natural Gas Rises on Bargain Buying (online.wsj.com)
• Earnings roundup: Nicor, Alliant Energy (sfgate.com)
• States Receive Record Weatherization Funding (chicagoist.com)
• NATURAL GAS IN SHALE: THERE’S LOTS OF IT! “Just a few years ago, the industry didn’t have the tech… (pajamasmedia.com)

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As a buyer, you are excited because you have a pre-approval letter, but what does the letter mean?  The pre-approval letter is determined by looking at your income to debt ratio true enough; however, are you aware that all your debt is not concerned.  What debt you ask?  The light bill, water bill, phone bill, grocery bill, cable bill, clothing bill, etc. and those bills can be more depending on where you live.

Now that puts the pre-approval letter into a new prospect doesn’t it?  Don’t get discourage.  Just do your homework.  Buy where you are alright comfortable and be patience.  With this market being a buyer’s market, you will find a home that is your comfortable range.

Next, you must determine what type of loan you want an adjustable rate or a fixed rate.  The difference is that the adjustable rate will do just that adjust and a lot of time it is not down, but up.  If you choice the adjustable rate, find out what the maximum rate is and determine whether you can afford the adjustment.  The mortgage broker and/or your Realtor can show the difference in payment. 

The fixed rate is just that fix.  The rate will stay the same for the life of the loan.

Now, what can change besides your rate is the taxes and insurance. 

With the taxes, you can head off this change by filing for your homestead and mortgage exemptions.  By the way, these exemptions are only for your primary residence, the one you live in.  You can file for these exemptions within 30 to 45 days of closing that should be long enough for the title company to get the property in your name.

With the insurance, the premium that you pay when you purchased your home may change by renewal of the policy.  Therefore, three months prior to your renewal of the policy call your agent to see what your new premium will be.  Your renewal date will be the anniversary of the day you purchased the home.  If the premium goes up more than $100 dollars start shopping.  Now keep in mind your credit now influences your insurance premium and any claims that you may have filed the previous year.  Your present agent can make some adjustment to your present policy to decrease the premium and it may be worth asking for those adjustments before moving to another company.  The insurance agent can adjust your replacement cost.  What is replacement cost?  Replacement cost is the cost it will take to rebuild your home if it was completely destroyed.  The most that your premium can be adjusted is within 80% of the replacement cost.  For instance, if your replacement cost is $100,000, then the lowest you can adjust your replacement cost is $80,000.  The replacement cost adjustment must be able to pay off your present mortgage, and hopefully enough to build you another home but in most cases it will be enough to start. 

Please consider these facts when you are looking at your pre-approval letter and smiling ear to ear with joy.

Originally posted 2008-11-29 11:04:02. Republished by Blog Post Promoter

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