Is your loan assumable?

Most mortgages contain a due-on-sale or alienation clause, which means that the mortgage may not be transferred to a new buyer. Instead, the seller must pay the entire balance that is due. In contrast, an assumable mortgage allows a home seller to transfer their mortgage to the new buyer, which can help attract buyers. FHA and VA mortgage loans are usually assumable.

Living near a Landfill?

Living near a landfill or a hazardous waste site will take its toll on a home's value. Cleveland State professor Robert A. Simons recently studied the effects of environmental contamination on real estate values. Homes located within a mile of a landfill would see a 10% to 15% reduction in value, and homes located within two miles of a Superfund site would see up to a 25% reduction in value.

Get a free carbon monoxide monitor Today!

"Great Carbon Monoxide Detector Giveaway" program will give away free carbon monoxide monitors and provide education about carbon monoxide poisoning from 4 p.m. to 6 p.m. Tuesday, at the Lexington Public Library, Tates Creek Branch, 3628 Walden Drive. For information call Safe Kids Fayette County, (859) 323-1153

Read more here: http://www.kentucky.com/2012/02/20/2076465/get-free-carbon-monoxide-monitor.html#wgt=rcntnews#storylink=cpy

1216 Rockbridge Rd

Need a Garage? Wanna know where it cones from?

The word garage is derived from the old French word "garer" which means "to shelter." The first garages were carriage houses where owners parked their cars next to their horses. Prefabricated, portable garage kits were introduced in the early 1910s. Today's typical garage accommodates up to three cars while providing added storage space with additional work areas.

Lexington, Ky Homestead Exemption

The Homestead Exemption is available to homeowners who fall in two categories: those who will be 65 years of age or over any time during the current tax year, or those who are disabled. Applicants must own, live in and maintain the home as their primary residence.

For 2011, Homestead Exemption is $34,000. This amount is deducted from the fair cash value assessment of a qualified applicant’s residence.

To receive the exemption because you are disabled, you must be classified as totally disabled under a public or private retirement system, receive disability payments from that system and have maintained the disability classification for the entire calendar year for which you seek the exemption. A copy of the disability declaration letter from your retirement system is considered sufficient proof of disability. Except for disabled veterans, you must annually resubmit your disability verification before December 31.

To qualify for the Homestead because you are 65, a copy of any of the following is accepted:

• driver’s license,

• birth certificate/registration,

• school records

• or marriage records.

Only one exemption is allowed per residence and only one exemption is allowed per person.