Important Things Burlington Homeowners Should Know About A Reverse Mortgage

Refinancing a home with a reverse mortgage has definite advantages for certain individuals in today’s market. Today, many mortgages are federally insured reverse mortgages. Among borrowers, there are certain qualifications. Borrowers must be at least 62 years old. They must own their property free and clear, or have only a small mortgage left to pay off at closing and they must talk to a credit counselor before applying for a reverse mortgage. If you can meet the qualifications, the advantages are many:

• For people who find they cannot live off social security, it increases the amount of money they have available month to month, tax-free.


• The borrower continues to live in their home, so there is no hand at your back, pushing you out.


• Reverse mortgages can be taken as lump sum payments, monthly installments or as a home loan line of credit to be used at the homeowner’s discretion.


• If you decide to sell the home, you can keep the difference between the price you get on the market and the amount of the reverse mortgage.


• If you stay in the home until you die and the proceeds from selling the home is greater than the amount of the reverse mortgage, your heirs get the difference.


• In the end, if the house depreciates and is worth less than the reverse mortgage, the FHA insurance pays the lender the difference.

For People Who Find Social Security is not Enough

Elderly homemakers occasioanlly feel a financial pinch. They may not believe their social security and other retirement funds provide as significant amount as they would like to make their life comfortable. For example, an elderly person may want to travel in retirement but feel a budget constraint. It’s possible to get a reverse mortgage that provides enough monthly income or a lump sum payment to give an elderly person greater flexibility in retirement to do the things they want to do.

For Elderly People Who Want to Stay in their Home

Elderly homeowners often prefer to stay in their home. Often, the mortgage is paid and the elderly homeowner owns it outright. To many retirees, their home is a nest egg. In order to enjoy the money in their home, they would have to sell it and move. A reverse mortgage allows the elderly person to stay in their home and enjoy the money their nest egg represents.

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Witness The Rhythm Of Nature At The Earth Clock In Burlington, VT

Do the words real estate, mortgages, and refinancing cause a spike in your stress level? If you’re actively involved in any of those processes, you likely need a moment to step back from the paperwork frenzy. If you need to re-balance and center your inner clock, then check out the Burlington Earth Clock. It’s a great place to sit back, take a deep breath and watch the sun set over Lake Champlain. Bring along the kids for some outside fun, and treat them to an astronomy lesson.

The stone-made structure was built in 2006 by the non-profit organization Circles for Peace. Their philosophy is that by staying in tune with the cycles of nature, people regain their inner peace. The land was provided to the organization by the Burlington Parks and Recreation Department; construction was funded by private donations. Fourteen granite stones, weighing between 3.5 and 20 tons, have been precisely arranged to serve as a calendar and compass. A granite sundial is in the center of the clock.

The stones on the eastern edge of the circle are specifically spaced for astronomical observations. The five stones on the western edge face the Adirondack Mountains. Each one of those stones marks a point in the sun’s journey through the seasons. If it’s been a while since your last science class, then consult the educational board near the clock. The equinoxes and solstices are explained on the board along with instructions for using the sundial. Kids and adults enjoy standing on the center rock and watching their shadows mark the time of day.

In the future, Circles for Peace is planning the addition of a display board for posting children’s poetry, artwork and science projects. The clock is already a common destination for classroom field trips. The area is also used by yoga, tai chi and other exercise enthusiasts.

The clock is off the bike path at Blanchard Beach just north of Oakledge Park. The 2400 foot waterfront boasts a swimming beach and rocky shoreline. The park facilities include a playground, walking trails, tennis courts and picnic areas with grills.

Head over to the Burlington Earth Clock; center your inner clock and enjoy a sunset.

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The Daily Planet Offers A Local Spin On Global Cuisine In Burlington, VT

If you are looking for a great place to eat with a comfortable ambience in Burlington, try the Daily Planet. It is one of my favorite places to go for a relaxed evening with friends and family. Their artsy atmosphere and their truly global menu are what really set them apart from all the other excellent dining options in the city. They offer modern interpretations of classic ethnic cuisine from around the world as well as updated versions of good-old American standbys for the less adventurous members of your party. In fact, they are a good, solid, all-around satisfying choice for those days when you want to try something new in familiar surroundings.

The Daily Planet has also just gone through an extensive renovation, so all three of their dining spaces are in top shape. Their solarium dining room is family friendly and also a great place for smaller private parties. The main dining room has an elegant setting and it is large enough to accommodate family reunions and office parties. The third space is the bar area, which is well-known Burlington-wide for their around-the-world approach to cocktails and drink creations. Of course, they have beer on the tap and a respectable selection of red and white wines by the glass as well.

Locals particularly enjoy going to the Daily Planet as it is not merely a restaurant; rather, it is more like a social space with incredible food and drinks. In a way, it does cater for an art-loving crowed with its gallery showcasing works of local artists and live music nights with regional bands are provided as a courtesy. Nonetheless, it also manages to create a welcoming, homey, easy-going vibe that accommodates the needs of all age groups. Their kids menu and desserts keep little ones content, and their versatile promotions give everyone a chance to enjoy their menu even on a budget. My favorite is their “dinner and a movie night” they promote jointly with Merrill’s Roxy Cinema, and I know local college students are very satisfied with the option of being able to use their dining cards here. These small gestures show clearly how well the Daily Planet has been paying attention to their customers, and you will also enjoy the same level of attention when you visit them for a great selection of global cuisine in the heart of Burlington.

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What Does A Second Mortgage Mean For Burlington Homeowners ?

If a homeowner needs cash to finance large purchases or several small ones, one option they have is to get a second mortgage. Like their first mortgage loan, it also uses their house as collateral.

What is a Second Mortgage?

A second mortgage is one that a homeowner takes out on their home while their first mortgage is still in effect. With a second mortgage loan, the homeowner is getting access to their equity in the home. If the balance on a $300,000 home is $250,000, this means that the homeowner’s equity will amount to $50,000. It is easier for a homeowner with poor credit to qualify for a second mortgage since it is secured by the home. If the homeowner is unable to repay their loans, the house will be sold and the proceeds used to repay both first and second mortgage loans. The first mortgage will be first in line for repayment; if the proceeds are not enough to cover both loans, the second lender may not be repaid what they are owed. For this reason, the interest on a second mortgage is usually greater than on a first mortgage.

Types of Second Mortgage Loans

Homeowners who get a second mortgage loan can access the money in one of two ways:

Home Equity Loans

If the borrower chooses this option, they will get a single lump sum based on their equity in the home. They will have an interest rate that is set from the start and a fixed period over which to repay the balance. Since home equity loans come in the form of a single sum, they are best for large one-time purchases. Typical uses include:

• Home renovation

• Paying for a second home

• Paying a child’s college tuition

• Debt consolidation

Home Equity Line of Credit (HELOC)

This type of loan functions like a credit card in that the borrower gets a reusable line of credit. As they pay down the balance, they have opportunity to re-borrow up to their credit limit. The similarity to a credit card makes a HELOC better for daily use where the borrower will be making multiple small payments.

It is important for homeowners to remember that if they default, their house will go into foreclosure. By adding to their debt, they could be making repayment of their old loans more difficult. They should carefully analyze their finances to make sure that they can afford a second mortgage.

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7 Fall Maintenance Tips for Homeowners

Fall is the perfect time to get all of your home maintenance and winter preparation projects done. It is the time of year when things cool off and it gives you the best opportunity for accomplishing all you need to before the cold winter months.

Help get your home ready for winter with these fall maintenance tips:

1. Check windows and doors.

This is one of the easiest ways to save on winter energy bills and keep your house from getting cold. Make sure there are not cracks, leaks or air coming through the window sills or door frames.

2. Clean you heating and air conditioning.

Having your air conditioner and heater units cleaned twice a year- spring and fall- will help your family stay healthier and expand the life of your units. A professional cleaning is inexpensive and takes a very short amount of time.

3. Check your fireplace.

Many people still use wood burning or gas fireplaces in the winter. Do a visual inspection of your fireplace to make sure that it is in good working order. Give it a test run at some point in the fall, before it gets too cold, to make sure that it will be functioning in the winter.

4. Clean your water heater.

You can clean your water heater by simply draining it. Allow all of the water in the tank to come out. This will get rid of any buildup that is in the heater due to sediment and will help prevent it from building up during the winter.

5. Protect your hose.

To keep your garden hose from freezing and cracking empty it completely and disconnect it from the spigot. Moving it inside is also a good idea to help prevent your hose from freezing and getting destroyed.

6. Check your roof.

When prepping maintaining your home it is important to start from the bottom up. Take a look at your roof- even from the ground- and see if there are any missing shingles or holes in the roof. Make sure your gutters are clear of leaves, sticks and debris.

7. Clean out the garage.

Make sure that any unused gas in equipment is removed and stored properly. Allowing the gas to sit in the fuel tanks can cause sediment in the tank and can potentially ruin the equipment. Since it may be out of use for months, fall is a good time to do this.

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Easy and Free Pumpkin Carving Stencils for the Whole Family

Fall weather is setting in, the leaves are turning into vibrant shades of orange, red and yellow and the pumpkins are ready for picking. Carving pumpkins is a fun, time-honored family tradition celebrated across the country. It’s a great way to mark harvest time by spending quality time together. Even the youngest of family members can participate with a little help from their elders.

Get Everyone Involved

Include little ones by letting them choose a pumpkin. Set up your carving area in advance to avoid potential messes. Cover a counter or table with a vinyl tablecloth or old newspapers for easy clean-up. Place one pumpkin for each family member around the table, leaving plenty of elbow room. If you have young children, consider gutting the pumpkins beforehand so they will not lose interest five minutes into the project.

Print several stencils from the list below, letting each family member choose a unique design. Attach stencils to the pumpkin using tape or small thumbtacks. A pumpkin carving kit can provide helpful tools for everyone and usually includes specialty carving items that help with those finely etched designs. You can even get these kits at the dollar store.

Provide support to little ones so they are safe and feel like they are part of the project. Consider pairing siblings together based on age or matching an adult with kids younger than five years old. Remember to focus on the process rather than the end result. Praise your child often and let him or her make design decisions too.

Free Pumpkin Stencils Will Help

Stencils and patterns provide easy lines to follow to create pumpkins that look like they were professionally done. The more complex the stencil, the more difficult it will be to create. First-timers and elementary school kids should opt for simple lines to begin with. You can always go back and add more complexity to the design once its finished.

Complete your family pumpkin carving evening with roasted pumpkin seeds and hot cider, chili or another cozy, home-cooked treat. Your whole family will remember the event for the rest of the year. When next October rolls around, don’t be surprised when your family demands another carving event.

Check out the following websites to download FREE stencils and patterns:

• http://www.zombiepumpkins.com/patterns


• http://www.pumpkinmasters.com/free-patterns.asp


• http://www.carvingpumpkins.com/free-patterns.html


• http://www.stoneykins.com/Patterns/categories/100-FREE–Patterns


• http://www.pumpkinlady.com/pumpkin-carving-patterns/free-pumpkin-carving-patterns

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Church Street Annual Santa Parade And Lighting Ceremony Burlington VT

Burlington, Vermont is a town of traditions and community. One of the more endearing traditions is the Church Street Annual Santa Parade and Lighting Ceremony which happens the day after Thanksgiving- November 29th, 2013. The events begin at Church Street Marketplace at noon. Santa takes his annual vacation to come visit Burlington and spend time with our community members. He begins his vacation by leading the annual parade from the City Hall Block to Mall Block. All are invited to follow Santa into the mall and spend some time with him. Children and those that are young at hard are always welcome to talk to Santa! Lots of other entertainment will be on hand throughout the afternoon.

The holiday season is then officially kicked off at 5:30 pm with a production of “Twas the Night Before Christmas.” Enjoy the classic as performed by Burlington’s skilled stage players. The players are fully costumed and a real treat to watch. After the production, at exactly 6:02 pm, the lights are officially turned on. Approximately 250,000 lights will sparkle and shine on Church Street. This is a captivating and awe inspiring experience, a sure memory maker. Punctuality is important, so make sure to get there early to watch the magic as the street is illuminated for the holidays. Also take a picture of the magnificent 50 foot Christmas tree strung with gorgeous lights in multiple colors. The tree shines throughout the length of the marketplace. It is truly a beacon of the holiday season.After the lighting stroll through the Church Street Marketplace enjoying the splendor of the lights and Burlington. Listen to your feet crunching in the snow, and enjoy a nice quiet evening filled with all the splendor Burlington has to offer. Carolers will also be on hand to serenade you with joyous Christmas music. Feel free to sing along and watch your mood lift with each note sung. The holiday spirit is always on full display at the Church Street Annual Santa Parade and Lightening Ceremony. You’re sure to feel welcome and happy participating in the activities, something Vermonters wait for each year. This isn’t not just a community tradition, but a family one.

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