the homeBuying mentors - Allston Brighton Community
Transcripción
the homeBuying mentors - Allston Brighton Community
Working Together, Building Homeownership Homeownership Resource Guide 2013 ¡Encuentre información en español! First-time homebuyer classes are offered throughout the year at many locations. Register today at www.TheHomebuyingMentors.org. See page 07 for more details! Allston Brighton Community Development Corporation Linden Street, Suite 288, Allston, MA 02134 | t. 617-787-3874 x216 f. 617-787-0425 | www.allstonbrightoncdc.org The Allston Brighton CDC is a HUD certified Housing Counseling Agency, holds a Seal of Approval from the Massachusetts Housing Collaborative, and adopts the National Industry Standards for Homeownership Education and Counseling. Designed by Intercreativa. www.IntercreativaDesign.com The Homebuying Mentors Table of Contents The Homebuying Mentors 05 Welcome to The Homebuying Mentors 07 Homebuying 101 & Coaching 09 Our Success by the Numbers Spotlight 11 A Homeowner’s Experience The Homebuying Process 13 Tips to Build, Maintain and Repair Your Credit 15 Mejorando su Puntaje de Crédito 17 Choosing a Winning Real Estate Team 19 Understanding the Loan Process 24 The Homebuyer’s Timeline 27 Top 10 Tips for Homebuyers When Reviewing a Purchase and Sale Agreement 29 10 Questions to Ask Before Buying a Condominium Homeownership 32 Skills to Survive Homeownership 35 Fácil Mantenimiento de la Propiedad 38 Essential Home Maintenance Tasks Resources 40 Directory of Resources 3 4 The Homebuying Mentors Welcome to The Homebuying Mentors! The Homebuying Mentors is Allston Brighton CDC’s newly renamed, improved and expanded homeownership program. We are an independent, not-for-profit resource for Massachusetts residents to plan responsibly for their future through homeownership education and coaching. We build a trusted environment where residents across Massachusetts can engage with experienced mentors to create personalized solutions for their homeownership experience. For over 32 years Allston Brighton CDC has been committed to improving neighborhood and community stability. We do this through educating first-time homebuyers and homeowners, providing an avenue for community voice, and keeping homes affordable and green for years to come. Join us Today! The Homebuying Mentors, Supported by Allston Brighton CDC Visit: 20 Linden Street, Suite 288, Allston, MA 02134 Online: www.thehomebuyingmentors.org Call: 617-787-3874 Follow: @HomebuyMentors TheHomebuyingMentors 5 6 The Homebuying Mentors Homebuying 101 & One-on-One Coaching Your roadmap to buying your first home • Learn the step-by-step process of buying a home in Massachusetts • Receive personal coaching from the start of the class to when you close on your first home • Gain access to trusted real estate professionals • Receive access to low interest rate first-time homebuyer mortgages, down payment and closing cost assistance, and more! Homebuying 101 is an 11 hour course offered in three and four session formats. We offer classes regularly throughout Eastern Massachusetts. Check to see if we’ll be in your area soon and register for our course today! Register on our website: www.TheHomebuyingMentors.org For more information call or email one of our experienced Homebuying Mentors today: Michelle Meiser Director of Homeownership 617-787-3874 x35 [email protected] Ian Dalley Housing & Homeownership Coordinator 617-787-3874 x35 [email protected] 7 The Homebuying Mentors 8 The Homebuying Mentors The Homebuying Mentors Our Success By the Numbers Over the last 18 years the Allston Brighton CDC has educated thousands of prospective first-time homebuyers hailing from all over eastern Massachusetts. Over the past five years more than 700 program graduates have purchased their first home with support from The Homebuying Mentors. Classes Taught • Each year we teach at least eight Homebuying 101 classes, with a total of 140 Homebuying 101 classes since the inception of the program. • We have provided over 80 additional workshops for home buyers and home owners including Homebuying 102: Purchasing a Condominium, All About Mortgages, How to Purchase a Foreclosed Home, Home Owner 201, Condo Owner 201, How to File Your Taxes as a Homeowner, and more. Number of Graduates • Last year 265 first-time homebuyers graduated from our homeownership program. • Over 3,800 people have graduated since the beginning of the program. Homes Purchased • Over 1,600 graduates have purchased their first home since the inauguration of the program. • 50% percent of our graduates purchase homes every year. Financing Leveraged • In total our graduates have leveraged over $288 million in mortgage financing. • Last year the average mortgage of a graduate was $240,000. • Last year 135 graduates purchased a home, leveraging over $32 million in financing. 9 The Homebuying Mentors Success Through Partnership • We partner with 15 local lending institutions to provide homebuyer education and coaching programming. • We partner with 45 high quality real estate professionals including lenders, real estate agents, inspectors, attorneys, and home insurance agents to support first-time homebuyers as they build their real estate teams. Where and How our Graduates Invest in their Homes Where They Bought Metro West & Beyond 19% What They Bought South Shore 4% Multi-Family 18% Boston 32% North Shore & Beyond 23% 10 Single-Family 37% Greater Boston 22% Condo 45% SPOTLIGHT ARTICLE The Homebuying Mentors Jennifer Lowe: A Homebuyer Experience in Retrospect Jennifer has called Allston Brighton home since she moved to the neighborhood as a renter in 1996. She loves the vibrancy of the neighborhood along with the convenience to public transportation, local shops, and restaurants. The challenge was that each year her rent continued to increase and she wanted to find a way to stabilize her housing costs. She had the opportunity to meet with a representative from her employer’s retirement plan and he advised her that, given her circumstances, buying her first home made sense. Not quite sure of her next step, she signed up for the Homebuying 101 class at Allston Brighton CDC. The class gave Jennifer the confidence to feel comfortable through the entire process. “I knew the steps and what to expect along the way. The class also gave me the opportunity to meet attorneys, inspectors, and mortgage lenders,” Jennifer shared. “Overall, it was a very powerful experience to know that I had the tools, resources, and knowledge to navigate the process of purchasing a home.” After participating in the class she was able to assemble a real estate team that she knew would work in her best interest. The value of a trusted team proved to be indispensable as she ran into challenges along the way. When she realized her closing date needed to be extended to accommodate a renter occupying the condo she was purchasing, and when unanticipated water damage was discovered prior to closing, she was able to lean on the expertise of her team in order to get the deal done on her terms. Jennifer shared that, “Participating in ABCDC’s homebuying classes helped me realistically assess my readiness to take this step, helped me learn what to expect along the way and introduced me to professionals in the field. These classes made the experience more exciting than daunting.” Jennifer bought her first home over eight years ago. With her new found pride in homeownership she was able to stabilize her housing costs and re- Photo Credits: Boston University Center for Digital Imaging Arts 11 The Homebuying Mentors main in a neighborhood she considered home. Since then, Jennifer has gotten married and is now considering growing her family and that means different housing needs. Jennifer is now looking to find a home with more space both inside and out. As she and her husband consider their next steps with homeownership, Jennifer advises anyone looking to sell or purchase a home, “to take your time to understand all your available options, educate yourself on the steps involved in the process, and surround yourself with a team of professionals who will provide their advice, guidance, and support along the way.” 12 The Homebuying PROCESS 12 Tips to Build, Maintain and Repair Your Credit Source: www.myfico.com www.bankrate.com • Pay your bills on time - Late payments will affect your credit score. Late payments have the worst effects on your credit score. When you purchase a home, having a high credit score will make it easier for you to get a low interest rate loan. • Check your credit reports and remove inaccuracies – You should check your credit report at least once a year. Get your free annual credit reports at www.annualcreditreport.com. Read all three reports and be sure to inform all three bureaus if information needs to be corrected. • Don’t open new accounts before applying for a loan – Apply for new credit in moderation. You need to have credit history, but do not appear desperate to lenders. • Manage your debts – Keep your credit card account balances below 35% of your available credit limits, but don’t rush to close accounts. Closing accounts can reduce your credit score. • Avoid Excessive Inquiries – Avoid a large number of inquiries over a short period of time. When you apply for credit, you authorize the lender to ask for a copy of your credit report. Too many inquiries can reduce your score. • Rate Shopping – When shopping for a mortgage or auto loan, inquiries made within a 30 day period will not adversely affect your score. Shop around and find the best terms possible. • Have just enough credit and charge it right - Only apply for the credit you need. Two to four credit cards are more than enough. Creditors want to see that you have successfully managed credit. If paid as agreed, you demonstrate that you can manage your finances responsibly. Photo credits: freedigitalphotos.net 13 The Homebuying Mentors • Know your consumer rights – Familiarize yourself with the consumer laws such as: Truth in Lending Act, Fair Credit Reporting Act, Fair Housing Act, Fair Debt Collection Act, and Fair Credit Billing Act. • Avoid credit scams – Don’t let anyone else borrow your credit card, don’t give your credit card number to anyone over the phone or Internet unless you have initiated the transaction. Before you reveal any personal information, find out how it will be used and whether it will be shared with others. Also pay attention to your statements, keep items with personal information safe and most importantly order a copy of your credit report at least once a year. • Understand what co-signing a loan for a family member or a friend means – If a friend or family member asks you to co-sign for a loan or credit card, know that you will also be responsible for the debt. Be sure to know what you are getting into! • Don’t overdraw your bank account or bounce checks – You will be charged fees, and you could damage a good reference when applying for a loan. Fees add up to your monthly expenses and paying fees is not a good use of your money. • Avoid cash advances at all cost – It’s simple they’re expensive. You will pay an upfront fee of two percent to four percent of the amount you withdraw, and you’ll be stuck paying a high interest rate, often in the high teens. There is no grace period on a cash advance, the interest charges will begin to mount as soon as the money comes out of the ATM. How a FICO Score breaks down Payment history 35% 15% 10% 30% 10% Amounts owed Length of credit history New credit Types of credit used These percentages are based on the importance of the five categories for the general population. For particular groups—for example, people who have not been using credit long—the relative importance of these categories may be different. 14 COMPRANDO The Homebuying UNA CASA PROCESS Mejorando su Puntaje de Crédito Fuente: Brandon Cornett, publisher of Home Buying Institute Cuanto tiempo le tome mejorar el puntaje de su crédito dependerá, en parte, de lo activo que usted este tratando de mejorarlo. También dependerá de las causas del problema. Porque dependiendo de estas y otras variables, es difícil ponerle un tiempo exacto. Dicho eso, vamos a decir que usted puede hacer mejoras significantes en una cuestión de meses – si usted está proactivamente Photo credits: freedigitalphotos.net buscando mejorar su puntaje. Seguro, para ser proactivo en esto, usted tiene que entender los factores que influyen en su puntaje de crédito. Entonces usted puede poner todas sus energías en las cosas que le ayudaran a mejorar su puntaje de crédito lo mas pronto posible. La verdad, existen docenas de factores individuales que pueden influir en su puntaje de crédito. Pero en este artículo, nos enfocaremos en las cosas que tienen el mayor efecto en la menor cantidad de tiempo. Cuanto tiempo se toma aun así va a variar de una persona a otra. Pero usted puede acelerar el proceso enfocándose en lo siguiente: 1.La historia de pago de sus facturas: La mayoría de los estimados que hemos visto, su historia de pago puede contar por 35% de su puntaje. De manera que si usted tiene un habito de no pagar el carro, la tarjeta de crédito, y otras cosas, usted necesita corregir ese habito. 2.Sus balances en las tarjetas de crédito: Este es otro factor que influye en su puntaje. El tener una o dos tarjetas de crédito con balances, no necesariamente es un problema. Pero si usted tiene muchas tarjetas, o si usted está cerca o pasado de sus limites en una o mas tarjetas, eso puede bajar su puntaje. La solución es trabajar un presupuesto que le permita gradualmente reducir esos balances, comenzando con los que están cerca de los limites. 3.La duración de su historial de Crédito: No hay nada que usted pueda hacer para incrementar la duración de su historial crediticio. Pero sin darse cuenta usted puede reducirlo. Esto en cambio puede disminuir su puntaje. 15 The Homebuying Mentors Por esa razón usted tiene que tener cuidado al cerrar cuentas viejas o con mas tiempo. En la mayoría de los casos, es mejor mantener las mas viejas abiertas, aun cuando usted reduzca sus balances considerablemente. Cuando usted cierra las cuentas mas viejas (así como la primera cuenta que abrió cuando cumplió 18 o la primera cuando llego al país) usted está esencialmente cortando su historia crediticia. Cerrar cuentas que no usa, o esas que tienen balances bajos, es una buena practica que puede ayudar a prevenir el robo de identidad. Pero usted tiene que tener cuidado de no cerrar las que tienen mas tiempo. Si usted cierra alguna, comience con las mas nuevas o las que tienen menos tiempo. O mucho mejor, mantenga las cuentas abiertas pero páguelas lo mas pronto posible. Esto mostrará una larga historia de buen manejo de deudas, y eso es lo que los prestamistas buscan. Conclusión y avanzando ¿Cuánto tiempo se tomará mejorar el puntaje significativamente? Como mencionamos anteriormente, este proceso y el tiempo varia de persona a persona. Pero usted puede acelerar el proceso primeramente con entender como su puntaje es calculado, y entonces enfocar sus energías en las cosas que tendrán el mayor efecto. Si usted paga todas sus cuentas a tiempo, reduce sus balances en las tarjetas de crédito, usted está en el camino de mejorar. Usted podrá ver un cambio significante en pocos meses. Solo el tiempo le dirá. Nosotros sabemos que esto no es la respuesta definitiva que usted esta buscando, en cuanto a que tiempo se toma ver los resultados. Pero es la mejor respuesta que podemos darle. Buena suerte. 16 The Homebuying PROCESS Choosing a Winning Real Estate Team Source: Mark White, Esq., Hagstrom White When purchasing your first home, be sure to surround yourself with the right team of real estate professionals to help you reach your goal of homeownership. However, when forming that team, keep in mind that you are its most important player – the team captain. A good captain is assertive and makes expectations clear. As a first-time homebuyer, make it known early in the process that this is your purchase, and that you expect the professionals that you have hired to treat you with the respect and responsiveness that you deserve, both as a person and as the captain of your team. When it comes down to choosing a realtor, a loan officer, or a real estate attorney, have conversations early in the process to determine who best fits your particular goal. Make it a point to interview candidates for these important positions on your team early in your home purchase process. In doing so, you will have a much better chance of hiring the right people. You hire them. They work for you. You are the boss. The interviews should include questions about the costs, realistic timelines for your purchase, and the services they offer. Be sure to write down their responses to your questions, so you can hold them accountable for the promises they make. Remember – you should always feel in control of your transaction. Even if there are bumps along the way, you will be in a much better position to handle them if you are in the driver’s seat. The best professionals in real estate will always make sure you get the information and responsiveness you need to stay in control of your purchase. If you surround yourself with a team that works to keep you informed and in control, you will achieve your goal of homeownership. Questions for Real Estate Professionals: • How are you compensated? • What do your services cover? • How long have you been in the real estate business? • How much time will I spend working with you vs. your assistant or other team member? • What percentage of your time do you spend working with first time home buyers? • How many transactions do you handle in a typical year? • How many clients do you typically work with at any one time? 17 18 The Homebuying PROCESS Understanding the Loan Process “Why does my lender keep asking for all that paperwork?!” Source: Amy Tierce, Fairway Independent Mortgage As a result of the mortgage crisis, many layers of fact-checking have been added into the mortgage process by regulators, and by Fannie Mae, Freddie Mac and FHA (the national authorities who finance the majority of mortgage loans in this country). Here’s an outline of when in the process the consumer may be asked to provide information, documentation and/or clarification. There are five distinct steps in the loan process: 1.Pre Approval: At this stage the Loan Officer will require that the consumer provide all income and asset documentation to determine mortgage qualification. This includes: • A credit report • W-2’s • Pay stubs • Most recent federal tax return • Two months of bank and investment statements Credit will be reviewed. The data will be put through underwriting and a pre-approval will be issued. It often takes quite some time between receiving the pre-approval and getting an accepted offer on a property. It is important to know that the lender will want updated information when you are ready to do the formal mortgage application. 2. Full Application: Now the loan is official, we have an address and the Loan Officer will update any documentation already submitted (documents cannot be older than 90 days). The borrower will be asked to address: • Any credit inquiries or issues on the credit report • Deposits that appear on bank statements in excess of $1000 will require source documentation Photo credits: freedigitalphotos.net 19 20 The Homebuying Mentors • A full mortgage application package will be completed by loan officer and borrower. 3.Submitted to Processing: At this time the Mortgage Processor will review the package submitted by the loan officer. The processor will order: • • • A title examination/legal work An appraisal If needed, a condominium questionnaire to be sent to the appropriate party for completion. If the Processor sees something that the Loan Officer missed, they will request this documentation now. Because of the complexities of the mortgage process a second set of eyes is very important to ensure that no documentation is missing, and that all necessary information is obtained. 4. Submission to Underwriting: Once the appraisal report is back, the processor is required to order a “Fraud Guard” report. This report often runs 25 or more pages and reviews everything and everyone involved to ensure that no party engaged in the sale has been involved in fraudulent activity in the past. This includes: • • • • The borrower and their background Appraiser Attorney Property and real estate professionals involved in the transaction The processor will also review the appraisal, the condo information and all documentation prior to submitting for full underwriting approval. At this time any one of those reports may spur a request for additional documentation from the borrower. 5. Underwriting: The underwriter is responsible for reviewing the entire loan package and issuing an approval. Once again another set of eyes is reviewing all the details for compliance to all regulations and guidelines as established by Fannie/Freddie/HUD and state and national regulators. 21 The Homebuying Mentors If questions or concerns arise, the underwriter can approve the loan, but make that approval subject to additional documentation. Sometimes the loan can be approved and is ‘clear to close’ at first look. Even after the loan is approved, there are several more steps in the process where additional paperwork may be required. 1.After Underwriting: One week prior to closing the lender is required to conduct a ‘verbal verification of employment’ to insure that the employment status of the borrower/s has not changed. Of course any discoveries at this stage that differ from the mortgage application as approved will require documentation and verification and could delay a closing. 2.Days prior to closing the lender is required to run a ‘credit refresh’ to insure that no new debt or credit has been obtained by the borrower that may impact their mortgage qualification. The credit refresh may require additional ‘last minute’ documentation from the borrower. 3.If any of the documents at the time of closing are beyond 90 days old the borrower will be asked to provide updated documentation such as a paystub or bank statement. If the credit report is beyond 90 days old it will be re-pulled which could also require a request for additional documentation or clarification. 4.After Closing: the loan is re-reviewed internally and by the end investor, and at this time there could be another request for documentation. These days, lenders are more and more concerned about making good loans, mitigating their risk and ensuring they stay within regulations. That often means that the mortgage process can be complicated and intrusive. There are many times throughout the process when a borrower could be asked to produce more and more information. If you keep your information and documentation well organized and respond quickly to your lender the process will go more smoothly and will help you get to your closing and the day when you can move into your new home! 22 The Homebuying Mentors Our trusted, professional Realtors® will provide you with the keys to homeownership success, every step of the way. • AccreditedBuyerRepresentatives • Complimentarypropertyvaluation • Mortgageservices • Freepre-approvalinlessthen24hours • Knowledgeable,professionalRealtors® • Home,autoandlifeinsurance • Homewarrantiesforpeaceofmind • Individualandcorporaterelocationservices Call (617) 731-2447 or visit www.NewEnglandMoves.com 23 The Homebuying Mentors The Homebuyer’s Timeline What to expect from Pre-Approval to Closing $$ Checklist 24 1 Receive Pre-Approval from Lender (valid for 90 days) 2 Conduct Your Home Search 3 Make an Offer 4 Offer Accepted (within 48 hours of offer) 5 Complete Home Inspection (within 7 days after offer accepted) 6 Shop for a Mortgage 7 Sign Purchase & Sale Agreement (10-14 days from accepted offer) Shop for a Mortgage (within 7 days after offer accepted) Complete Home Inspection OK (within 48 hours of offer) Offer Accepted Make an Offer $$ Conduct Your Home Search (valid for 90 days) Receive Pre-Approval from Lender $ The Homebuying Mentors (6 weeks from accepted offer) CLOSING (day before closing) Final Walk Through & sale agreement) Obtain Mortgage Commitment Letter (date established in purchase Shop for Home Insurance (1 day after Mortgage App submitted) Submit Full Mortgage Application (10-14 days from accepted offer) Sign Purchase & Sale Agreement The Homebuying Mentors is Allston Brighton CDC’s newly renamed, improved and expanded homeownership program. We are an independent, not-for-profit resource for Massachusetts residents to plan responsibly for their future through homeownership education and coaching. 8 Submit Full Mortgage Application (1 day after P&S is signed) 9 Shop for Home Insurance (1 day after Mortgage App submitted) 10 Obtain Mortgage Commitment Letter (within 30 Days from accepted offer)*varies by lender 11 Final Walk Through (Day before closing) 12 Closing (6 weeks from accepted offer) www.TheHomebuyingMentors.org 25 26 Homeownership Top 10 Tips for Homebuyers When Reviewing a Purchase & Sale Agreement Source: Leslie C. Sammon, Esq. Homebuyers should seek representation by a real estate attorney who will review the purchase and sale agreement, the final contract between buyer and seller. These tips do not in any way replace the expertise of a real estate attorney. 1.Am I working with fair and comfortable deadlines? Make sure that you have not committed yourself to a closing date or mortgage commitment date that is too soon. Check that your lender can also meet those mortgage commitment and closing deadlines. Photo credits: freedigitalphotos.net 2. Mortgage Commitment. By the mortgage commitment date in your purchase and sale agreement you need a written commitment that the bank will give you financing. If you do not have this, get an extension of the date. Make sure that the correct loan amount is written into your mortgage commitment paragraph. 3. What if I change my mind about buying the property? After signing a purchase and sale agreement you are committed to buying the property, subject to obtaining financing. However, if you decide not to buy for some reason, your maximum risk is the deposit that you have put down with the offer and purchase and sale agreement. Make sure that the purchase and sale agreement states that your damages are limited to loss of your deposit. 4. Broom Clean. The purchase and sale should describe how you want the property delivered, usually in “broom clean” condition. Don’t hesitate to specify certain areas such as the yard, attic, basement, and garage. Do a walk-through before closing to make sure the seller has cleaned out the property in accordance with the terms of the agreement. 5. Don’t hesitate to include buyer contingencies in the purchase and sale agreement. If you did a radon test and the results are not back 27 The Homebuying Mentors when you sign a purchase and sale agreement, then include normal radon results as a contingency. If you are buying a condominium and have not been given financial statements for the condominium, then add a review of the financial statements as a condition of your purchase. 6. Be aware that the seller can extend the closing date. The purchase and sale agreement allows the seller to extend the closing date up to 30 days if there are title issues that need to be cleared before closing. Be sure that you have flexible living arrangements in case this happens. 7. Know the rate lock expiration date on your financing. Make sure that the purchase and sale agreement does not allow the seller to extend the closing date beyond the date that you locked in your interest rate. 8. If you are relying upon something the seller told you, get it in writing! If the seller told you that a new roof was put on the house two years ago, get this in the purchase and sale agreement and/or have the seller give you documentation demonstrating when a new roof was installed. Oral statements are not as binding as written statements. 9. Condominiums. When buying a condominium unit, have the seller represent that no special assessments are planned or anticipated and that if a special assessment is billed prior to closing, then the seller is responsible for it. 10. Multi-Family Homes. If you are buying a multi-family home with tenants in it, make sure that the seller discloses in the purchase and sale agreement all information that they have regarding the tenants’ leases, rental payments, last month’s rent, security deposits, and whether the tenants pay their own utilities. It is important to have information about the tenancies before you purchase and you should make your offer contingent upon satisfactory review of the tenant information. 28 Homeownership 10 Questions To Ask Before Buying A Massachusetts Condominium Unit Source: Rich Vetstein, www.massrealestatelawblog.com Buying a condominium unit can be more involved than buying a single family home. This is because you have to worry about both the unit itself and the condominium project as a whole. 10 Questions You Must Ask Before Purchasing A Condominium Unit To borrow from a famous phrase, not all condominiums are created equally. Some condominiums are very well run; some are quite poorly run and underfunded. Buyers interested in purchasing a condominium unit must do their homework: not only about the condition of the individual unit they are interested in purchasing, but on the financial health and governance of the condominium as a whole. Remember, you are buying into the entire project as much as you are the unit, and your decision will impact your daily living and your ability to re-sell. Here are the 10 questions buyers should ask when deciding to purchase a condominium unit: 1. What is the monthly condominium fee and what does it pay for? The monthly condominium fee can range quite dramatically from condominium to condominium. The fee is a by-product of the number of units, the annual expenses to maintain the common area, whether the condo is professionally managed or self-managed, the age and condition of the project, and other variables such as litigation. For budgeting and financing you need to know the monthly fee and exactly what you are getting for it. 2. What are the condominium rules & regulations? Condominium rules can prohibit pets, your ability to rent out the unit, and perform renovations. Make sure you carefully review the rules and regulations before buying. Needless to say, the buyer’s attorney should review and approve all condominium documents, including the master deed, declaration of trust/by-laws, covenants, unit deed and floor plans to ensure compliance with state condominium laws as well as Fannie Mae and FHA guidelines, as necessary. 29 The Homebuying Mentors Photo credits: freedigitalphotos.net 3. How much money is in the capital reserve account and how much is funded annually? The capital reserve fund is like an insurance policy for the inevitable capital repairs every building requires. As a general rule, the fund should contain at least 10% of the annual revenue budget, and in the case of older projects, even more. If the capital reserve account is poorly funded, there is a higher risk of a special assessment. Get a copy of the last two years budget, the current reserve account funding level and any capital reserve study. 4. Are there any contemplated or pending special assessments? Special assessments are one time fees for capital improvements payable by every unit owner. Some special assessments can run in the thousands, others, like the Boston Harbor Towers $75 Million renovation project, in the millions. You need to be aware if you are buying a special assessment along with your unit. It’s a good idea to ask for the last two years of condominium meeting minutes to check what’s been going on with the condominium. 5. Is there a professional management company or is the association self-managed? Usually, a professional management company, while an added cost, can add great value to a condominium with well-run governance and management of common areas. But for smaller condominiums, self-management works just fine. 6. Is the condominium involved in any pending legal actions? Legal disputes between owners, with developers or with the association can signal trouble and a poorly run organization. Legal action equals attorneys’ fees which are payable out of the condominium budget and could result in a special assessment. In some states, you can run a search of the condominium association in the court database to check if they have been involved in recent lawsuits. 7. How many units are owner occupied? A large percentage of renters can create unwanted noise and neighbor issues. It can also raise re-sale 30 and financing issues with the new Fannie Mae and FHA condominium regulations which limit owner-occupancy rates. If your buyer is using conventional financing, check if it is a Fannie Mae approved condo. If FHA financing, check if it’s an FHA approved condo. 8. What is the condominium fee delinquency rate? Again, a signal of financial trouble, and Fannie Mae and FHA want to see the rate at 15% or less. 9. Do unit owners have exclusive easements or right to use certain common areas such as porches, decks, storage spaces and parking spaces? Condominiums differ as to how they structure the “ownership” of certain amenities such as roof decks, porches, storage spaces and parking spaces. Sometimes, they are truly “deeded” with the unit, so the unit owner has sole responsibility for maintenance and repairs. Sometimes, they are common areas in which the unit owner has the exclusive right to use, but the maintenance and repair is left with the association. Review the Master Deed and Unit Deed on this one. 10.What Does The Master Insurance Policy Cover? The condominium should have up to $1M or more in coverage under their master condominium policy. For buyer’s own protection, they should always buy an individual HO-6 policy covering the interior and contents of the unit, because the master policy and condo by-laws may not cover all damage to their personal possessions and interior damage in case of a roof leak, water pipe burst or other problem arising from a common area element. Ask for a copy of the master insurance policy and don’t forget to check the fine print of the by-laws. Sometimes, there’s language that would hurt a unit owner in case of a common area casualty. Condominiums over 20 units should also have fidelity insurance to protect against embezzlement. 31 Homeownership Skills to Survive Homeownership Source: www.thisoldhouse.com 1. Ensure a Light bulb’s Long Life. You know that popping sound that signals another lightbulb has burned out before its time? The cause: The little brass tab inside the lamp socket that makes contact with the bulb base is dirty or bent, interrupting the connection and causing the filament to imperceptibly flash on and off, shortening its life. With the fixture unplugged or the circuit breaker switched off, clean the tab with a Q-tip and rubbing alcohol; then nudge it up with a screwdriver so that it stays in contact with the bulb base. 2. Fix a leaky faucet. This particular type of water torture is likely due to a failed washer inside a handle. The faucet is just the messenger. To replace the washer, turn off the water supply valve under the sink. Stuff a rag in the drain so you don’t lose parts and then take the handle apart. Pop the screw cover on top, remove the screw and pull off the handle. Use a wrench to disassemble the stem and line the parts up on the counter in the order they came off, so you know how it goes back together. Examine rubber parts or plastic cartridges for cracks, and take the offending piece to the hardware store for an exact replacement. Reassemble the parts you’ve laid out, in reverse. Then revel in the ensuing peace and quiet. 3. Locate a stud. Say you want to hang a shelf. Knuckling the wallboard can pinpoint a stud, but to improve the odds when your electronic stud finder has gone missing, use deductive reasoning. Most studs are placed at 16inch intervals; once you know where one is, you can usually find the rest. Start at a corner, where there’s always a stud, or take the cover plate off an electrical outlet and find out on which side it’s mounted to the stud. From there, measure 16, 32, 48 inches and you should hit a stud at each go. Eliminate all guesswork by using a thin bit to drill a test hole at the top of the base molding, which you can easily repair with a dab of caulk. 4. Unclog a sink. “Chemicals rarely clear a stoppage — they only make a small hole,” says Richard Trethewey, This Old House’s plumbing and heating expert. “A full stoppage requires mechanical clearing.” Remove the stopper and block off overflow holes. With water in the bowl — the water puts more pressure on the clog — plunge with a flat-faced plunger. If that’s not enough, get under the sink and take off the trap to see if that’s where the clog is lodged. If the blockage is deeper, rent a hand snake. Slowly push the coil down the drain, carefully twisting, pulling and push32 The Homebuying Mentors ing when you hit the blockage. If the snake fails, call a drain-clearing service to get things flowing. 5. Secure a Loose Screw or Remove a Stripped Screw. With a loose screw you’ll need to fill in the hole before you can get the screw back in tight. The best filler is more wood, held in place with yellow carpenter’s glue. Matchsticks, toothpicks, golf tees, packed in tightly, will do the trick. But better yet is a piece of 3/8-inch dowel. First, use a 3/8-inch drill bit to enlarge the hole. Cut off a small length of dowel with a utility knife or small saw. Dab it with glue and tap it into the hole. When the glue is dry, use a chisel or the saw to slice off the excess. Then drill a new hole and reattach the hardware. And put those golf tees to their intended use. If the screw giving you trouble is stripped, get a hand screwdriver appropriate for the screw and a double dose of elbow grease to fix this unfortunate bit of handiwork. Gently hammer the screwdriver into the head. Then use as much downward force as you can while you slowly back out the screw. 6. Stem a flood — and save your wiring. As a safety measure, you should know where your main water and electrical shutoffs are. The water shutoff will be near where the water enters the house. Look for a metal wheel or a flat handle like a paddle. Or check outside for a mini manhole cover — the shutoff may be there. The main electrical switch will be in or near the main box. On an old fuse system, it may be a big lever or a handle that pulls out a whole block. On a modern breaker box it will be an isolated switch near the top of the box. Flip it to keep the circuits (and you) from getting fried. 7. Stop an overflowing toilet. A toilet works by gravity: The water in the tank — just enough to fill the bowl — drops down and pushes waste through the drain. The float drops, opening a valve that lets in water to refill the bowl and the tank simultaneously. The valve closes when the float rises far enough to shut off the water. 33 The Homebuying Mentors 8. Drill Through Tile Without Cracking It. Go get a drywall screw and a hammer. Place the tip of the screw exactly where you want to drill, then tap it ever so gently with the hammer to pierce the glaze and create a little divot. Now load a masonry bit into your drill driver and use the divot to hold it in place as you start drilling. No fissures, no scratches, no fuss. 9. Pick an Interior Lock. Your two year-old is in the bedroom bawling, you’re out in the hall, and there’s a locked door between you. On the door’s knob or on the plate around it, there should be a small hole that’s made just for this situation. Take a slim piece of metal, such as a small flathead screwdriver, and slip it in the hole. Compress the spring inside or slip the screwdriver head into the slot on the spring and turn. Door unlocked, toddler safe, shoulder not broken. 10. Unstick a Door. Doors stick for a lot of reasons: a loose hinge, too much paint, a settling house, or humidity in the air,” says TOH general contractor Tom Silva. If the door suddenly jams in dry weather, your problem is the hinge, likely a loose screw. A door that’s been painted too much or is sticking because the house is settling can be sanded or planed at the trouble spot, then repainted. If the door is swelled by humidity—often a front door or bathroom door— it’s usually because part of it wasn’t painted and moisture is getting into the wood; check the top and bottom edges. Shave down the door as little as possible to make it just fit. “Normally you want a crack the width of a nickel around a door, but in this case make it a dime,” says Tom. Then paint over any exposed wood on all six sides to seal it. When the humidity lessens, the door will shrink to a perfect fit, opening without a hitch. 34 Homeownership Fácil Mantenimiento de la Propiedad: Tomado de: Homeowner’s Resource Guide, Masshousing. Febrero Sistemas de Seguridad: En este mes es un buen tiempo para inspeccionar el sistema de seguridad de la casa. Asegúrese que todos los detectores de humo y de monóxido de carbono están funcionando y que tienen buenas baterías. Una buena forma para recordar cambiar las baterías, es hacerlo dos veces al año, una en la primavera y la otra en el otoño. Ambas cuando se cambia la hora en el reloj. Marzo Sótanos Mojados: Marzo es un mes húmedo. Observe si hay goteras en el sótano. Si usted tiene una maquina para sacar el agua del sótano, asegúrese que este funcionando apropiadamente. (la bomba de agua está usualmente ubicada en la parte mas baja del sótano y comienza a funcionar automáticamente el nivel del agua sube.) Una buena forma de probar la bomba de agua, es poniendo agua en el hoyo donde se encuentra la misma y ver si enciende. Si usted no tiene una bomba de agua, pero tiene alguna razón para creer que puede tener un problema de agua en el sótano, entonces puede invertir en la compra de una aspiradora de agua (wet/dry vac). Esta es una herramienta relativamente barata, tiene una gran fuerza de aspiración, y puede ser usada para sacar porciones de agua, así como otras funciones, tales como limpiar el taller, el carro, y las ventanas. Abril-Mayo Canaletas: Abril es un buen mes para salir e inspeccionar el exterior de la casa. Examine las canaletas y los bajantes para asegurarse que no se han salido de su lugar y que están limpios de basuras. Asegúrese de quitar la basura que está cerca de los bloques que están ubicados al final de los bajantes. Si es necesario reubique los bloques para mover el agua hacia afuera de la fundación de la casa. Los bloques que están mal ubicados pueden provocar que el agua entre al sótano. Este es un buen tiempo para hacer cualquier otro ajuste o reparación necesaria a las canaletas. Si usted sube al techo, inspeccione si las hojas del tejado están rotas o dobladas (una causa común de goteras) y haga las reparaciones de lugar. Además, chequee la chimenea por algún ladrillo flojo o suelto e inspeccione las antenas y cables de televisión. Devuelta abajo inspeccione los lados de la casa. La condensación entre las paredes hace que las maderas se salgan de su lugar haciendo que la pintura se levante. Usted debe mejorar esta situación si planea pintar la casa. 35 The Homebuying Mentors Jardines: Si usted va a tener un jardín de vegetales o de flores, ahora es el tiempo de comenzar a plantar. Como usted ahora es dueño de la casa, usted podría pensar en plantas perennales para su jardín de flores. Plantas perennales salen cada año al contrario de las anuales que solo brotan una vez al año. Si usted no tiene patio, usted podría invertir en cajas de flores para las ventanas. También, usted podría sembrar hiervas dentro de la casa. Junio Proyectos de afuera: Como Junio tiene los días mas largos, este es un buen tiempo para hacer todas las reparaciones que requieren ventilación, así como pulir los muebles, pintar, y encerar los pisos. Este es un buen mes para poner sellador en la terraza, si usted tiene una. Julio Reparar o pintar: Este es un buen mes para reparar o pintar la parte externa de la terraza, las escaleras de maderas o de cemento, y las verjas. Chequee el sistema de seguridad y el timbre de la puerta para asegurarse que funcionan. Photo credits: Agosto Sistemas de Calefacción: Con el tiempo frio al doblar de la esquina, es tiempo de limpiar el sistema de calefacción y de darle mantenimiento. No espere hasta que los técnicos están ocupados atendiendo llamadas de emergencias. Si usted alguna vez huele algo que sale del sistema de calefacción, llame a una compañía de servicio inmediatamente. Un olor de humo quiere decir que usted ha esperado mucho tiempo para limpiar el sistema. Septiembre Al final de este mes es un buen tiempo para cosechar todo lo que quede de los vegetales antes del frio. Recoja las hojas en la medida que caen. La acumulación de hojas, particularmente las hojas mojadas, pueden causar daño a las hierbas. Este es un buen mes para preparar su casa para el invierno instalando insolación y aplicando selladores en las puertas y ventanas. Si usted piensa rellenar las grietas con masillas en la casa, ahora es buen tiempo para hacerlo antes del frio, ya que la masilla se dificulta en pegar con el frio. Este mes es bueno también para limpiar el garaje y lubricar el abridor de la puerta del garaje, si usted tiene uno. 36 Octubre Áticos: Octubre es un buen mes para limpiar los áticos. En este tiempo del año el ático no esta insoportablemente caliente y esto hace la limpieza mas fácil. Un ático limpio le permite tener espacio para los artículos del verano que usted planea guardar. Pintura de Oxido: Ahora es un buen tiempo para aplicar la pintura de oxido a las piezas de metales que van a permanecer fuera. Chimenea: Antes de encender el primer fuego del invierno, cheque la chimenea o su estufa de piedra para ver si hay algún animal dentro de la misma. También puede chequear por basura que haya caído dentro de la chimenea durante alguna tormenta. Noviembre Tuberías Externas: El invierno esta en la esquina. Asegúrese de limpiar las canaletas cuando las hojas dejen de caer de los arboles. Para prevenir congelamiento de tuberías externas, cierre las válvulas y deje las llaves externas abiertas. Guarde las mangueras. Radiadores: Si usted tiene radiadores de agua caliente, antes de usarlos sángrelos. Sangrarlos quiere decir permitir que el aire atrapado dentro de las tuberías salga y esto requiere una pequeña y económica herramienta. La mayoría de las tiendas la tienen. Diciembre Relájese y disfrute los días feriados. En Enero ya será el tiempo de comenzar de nuevo, y el mantenimiento de la casa podría ser tedioso si usted no toma un receso. 37 Homeownership Essential Home Maintenance Tasks Roof: Check your roof for any leaking around vents, skylights, and chimneys. The sooner you deal with any leaks the more money you will save. Don’t wait for too much damage to deal with a leaky roof issue. Gutters : Cleaning your gutters every spring and fall will help ensure you don’t have any unwanted water damage to your home. Leaves and debris will breakdown very quickly, clogging your gutters and preventing excess water from flowing away from your roof and foundation. This can result in damage to your roof, walls, and siding, as well as flooding in your basement. Storm Windows: Change out your removable screens in the fall and install all storm windows. Don’t forget to install or close the storm window on your screen/storm door. Without shutting the screen door in the winter months, snow can cause damage to the door, which may lead to a replacement cost of over $100. Basement : Check your basement throughout the year for moisture, leaking and flooding. If your basement is damp you may consider purchasing a dehumidifier to prevent moisture from damaging items stored in your basement. If you have small floods, periodically consider buying some palates to keep stored items above ground level and use a wet-dry shop-vac to clean up small water issues. If you have a sump pump, be sure to test it annually by pouring water into the drain to ensure it is working properly. Heating and AC Systems: Before it’s time to turn on the heat, test your heating system to be sure it is working. Most likely your system has not been used all summer. Your system will run more efficiently and save you money in the long-run if you do annual maintenance. The cost is typically based on the hourly rate of your HVAC professional. Basic maintenance could be up to 2 hours of work at a rate of $90/hour, plus any materials that may be needed. If you have an outdoor A/C unit be sure to drain and flush out the pipes. You could do this yourself with a wet-dry shop-vac or pay a professional HVAC professional at a typical hourly rate of $90. If you have a window unit, don’t forget to remove it from the window and store it for the winter. You may also install an insulation cover over the unit but you will likely conserve the most energy and get the most savings by removing the unit from the window for the winter. Fire and Carbon Monoxide Alarms: Check batteries twice a year to ensure proper functioning. 38 The Homebuying Mentors Siding: Keeping siding in good condition and touching up peeling paint could save you hundreds of dollars down the road, preventing costly repairs due to rotting wood or unnoticed damage inside your walls. Pipes and hoses: As you prepare for cold weather months don’t forget to drain outside pipes and store your garden hose inside for the winter, as the water freezing and thawing in the hose will create leaks and greatly shorten the life of your hose. In the winter months during extreme cold snaps you may consider allowing your faucets to drip to prevent your pipes from freezing Appliances and Fixtures: Pay attention to leaky faucets, low water pressure, and continuously running toilets. You can often fix these items yourself. If your faucet is leaking or has low flow consider replacing the aerator. You may find installing a new faucet will resolve low water pressure issues. If you have had leaks, be sure to inspect any tile grout, and to patch and seal where necessary. If your toilet has an issue with continual water flow you may just need a new flap. Clean your garbage disposal by running ice and vinegar through it periodically. If it clogs, all you may need is a plunger. Avoid using liquid plumbing products as the chemicals can destroy your disposal as well as discolor your sink if the chemical sits for too long in the backed up sink. Check your refrigerator and freezer to be sure the doors are tightly sealed. You can check this by placing a dollar bill in the door. If you can easily pull the dollar bill out, you may be wasting energy. To solve this problem, you can easily adjust the latch or replace the seal. If you have a coil-back fridge, don’t forget to vacuum out the coils for maximum efficiency. Ongoing Care for Your Yard Mow lawn: Be sure to regularly mow your lawn as lawn mowers struggle to deal with very long grass. Also, if grass clippings are left on the lawn, they can prevent healthy lawn growth, leaving you with brown patches. Trim hedges: Trim your hedges at least twice in the late spring and in the fall. If you leave your hedges to grow too large you may find you won’t be able to trim them back to the ideal size and you will have to invest large sums of money to have the hedges removed and new ones planted. Be sure to keep your hedges, trees and bushes from covering windows and doorways as both a safety issue and a way to ensure more natural light. Weeds: Weeds will take over your yard killing the plants and hedges you love. You will often find that small trees have begun to grow. If left for too long, you may find trees growing up through hedges and in places where you never intended. Removing small seedlings is easy, but once they take root you may find it impossible to remove without digging out the full root. 39 2013 Directory of Resources The Homebuying Mentors Make sure to check us out at our new website, on Twitter and Faceook! www.thehomebuyingmentors.org @HomebuyMentors TheHomebuyingMentors Habla: Español Speaks: Multiple Foreign Languages Leonardi Aray Architects Michele Adrian, Int’l Assoc. AIA 600 Huron Ave Cambridge, MA 02138 617-584-0897 [email protected] www.larayarchitects.com Attorneys Adams & Sammon Leslie C. Sammon 295 Devonshire Street, 2nd floor Boston, MA 02110 617-451-7241 Office 617-422-1428 Fax [email protected] Lee & Associates, P.C. Nancy A. Lee, Esq. 730 Hancock Street Quincy, MA 02170 617-934-1668 Office 617-934-1638 Fax [email protected] www.leeassociatespc.com Ligris + Associates, P.C. Elizabeth Grimes 1188 Centre Street, 2nd Floor Newton, MA 02459 617-274-1500 Office 617-274-1515 Fax 617-921-9555 Cell [email protected] www.ligris.com Liss Law, LLC Avi Liss 2 Sewall Avenue 40 Brookline, MA 02446 617-505-6919 Office [email protected] www.lisslawboston.com/ Sassoon & Cymrot Scott J. Wittlin 84 State Street, 8th Floor Boston, MA 02109 617-720-0099 Office 617-720-0366 Fax [email protected] Elizabeth Barletta 617-720-0099 Office 617-720-0366 Fax 617-304-3404 Cell [email protected] www.sassooncymrot.com Transactional Law Clinics of Harvard Law School Brian Price, Director 6 Everett Street Cambridge, MA 02138 617-998-0101 Office 617-998-0146 Fax [email protected] HarvardTLC.org Business and Non-Profit Clinic, Real Estate Clinic, Entertainment Law Clinic Tobin and Tobin, P.C. Michael J. Tobin, Esq. 735 South Street Roslindale, MA 02131 617-325-1010 ext. 111 Office 617-325-1055 Fax [email protected] www.tobinandtobin.com Building Materials Boston Building Resources Deb Beatty Mel 100 Terrace Street Roxbury, MA 02120 617-442-2262 Office 617-427-2491 Fax [email protected] www.bostonbuildingresources.com A non-profit consumer co-op selling windows, doors, kitchens, weatherization products, and other building materials. Boston Home Center 26 Court Street Boston, MA 02108 617-635-HOME (4663) Office www.bostonhomecenter.com Provides foreclosure prevention services, homeownership education, information to first-time homebuyers and homeowners, as well as financial assistance to income-eligible residents for home purchase and repair, including lead paint abatement. Provides Services in Spanish and Creole ESAC Sustainable Homeownership Center 3313 Washington Street, 2nd Floor Jamaica Plain, MA 02130 617-524-4820 Office 617-524-2430 Fax www.esacboston.org Provides foreclosure prevention services, housing counseling and advocacy, and lead paint education and assistance. Manages the Senior Home Repair Program. Homeowner Options for Massachusetts Elders (HOME) 150 Grossman Drive Braintree, MA 02184-4964 800-583-5337 Office http://www.homeowneroptionsfor massachusettselders.org Assists low or moderate-income homeowners 60 years of age or older to make informed decisions that allow them to stay in their homes. Liss Law, LLC Avi Liss 2 Sewall Avenue Brookline, MA 02446 617-505-6919 Office [email protected] www.lisslawboston.com/ National Consumer Law Center 7 Winthrop Square Boston, MA 02110-1245 617-542-8010 Office 617-542-8028 Fax nclc.org The National Consumer Law Center is America’s consumer law expert, helping consumers, their advocates, and public policy makers to use powerful consumer laws build financial security and assure marketplace justice for vulnerable individuals and families. Neighborhood of Affordable Housing (NOAH) 143 Border Street East Boston, MA 02128 617-567-5882 Office www.noahcdc.org NOAH counselors work with clients one-on-one to develop an action plan based on individual needs, create budgets, contact lenders, negotiate mortgage terms, and more. They also conduct weekly foreclosure prevention clinics every Monday at 5:30 PM in both English and Spanish. Urban Edge 142 Columbus Ave, Suite 2 Roxbury, MA 02119 617-989-9300 Office 617-427-8931 Fax www.urbanedge.org Urban Edge’s Homeownership Center provides foreclosure prevention services, financial fitness classes, first-time homebuyer workshops, post-purchase training, and more. Directory of Community Resources Foreclosure Prevention Home Inspection Boston Home Inspectors James Brock 1326 Columbus Ave South Boston, MA 02127 617-464-1047 Office [email protected] [email protected] www.bostonhomeinspectors.com Jackson Home Inspection Raymond Jackson 12 Essex Street Andover, MA 01810 978-475-0444 Office 978-475-6140 Fax [email protected] www.jacksonhomeinspection.com 41 O’s Home Inspection Otis Ellerbee 7 Edson Street Dorchester, MA 02124 617-288-2149 [email protected] www.oshomeinspection.com Tiger Home Inspection Sean Rizzo 969 Washington Street Braintree, MA 02184 800-628-4437 Office 781-356-4487 Fax [email protected] www.tigerhomeinspection.com Insurance F.I. Patnode Insurance Jason Patnode 396 Washington Street Brighton, MA. 02135 617-787-1400 Office 617-783-5551 fax [email protected] www.patnode.com John J. Ryan Insurance Agency John J. Ryan, Jr. 376 Washington Street Brighton, MA 02135 617-254-0600 Office 617-254-0404 Fax [email protected] www.johnjryaninsuranceagency.com Lead Paint Inspection ASAP Environmental, Inc John MacIsaac 1 Arcadia Street Dorchester, MA 02122 617-288-8870 Office 617-282-7783 Fax [email protected] www.asapenvironmental.com Mortgage Lending Boston Private Bank & Trust Carrie Carrizosa 1295 Beacon Street Brookline, MA 02446 617-912-4213 Office 617-912-4556 Fax [email protected] www.bostonprivatebank.com 42 Brookline Bank 160 Washington Street Brookline, MA 02445 877-668-2265 www.brooklinebank.com Citibank Gregory Aikens One Brattle Square Cambridge, MA 02138 617-899-8027 Office 866-215-1537 Fax [email protected] NMLS Identifier: 355635 Eastern Bank Carolina Trujillo 2060 Commonwealth Avenue Newton, MA 02466 617-504-9172 Office 781-477-1368 Fax [email protected] www.easternbank.com Fairway Independent Mortgage Corporation Amy Tierce 18 Crawford Street Needham, MA 02494 781-719-4665 Office 781-719-4684 Fax [email protected] www.amyrates.com www.fairwayne.com Leader Mortgage Ivy Pretto 180 Massachusetts Avenue Arlington, MA 02474 781-648-7900 x 113 Office 781-648-8444 Fax Massachusetts & NMLS MLO # 196654 [email protected] www.leadermortgage.com Peoples Federal Savings Bank 435 Market Street Brighton, MA 02135 617-254-0707 Office 617-254-0087 Fax John Arvanitis, 617-254-0707 x 2546 [email protected] Patricia Grady, 617-254-0707 x 5242 [email protected] James Gavin, 617-254-0707 x 5205 [email protected] www.pfsb.com Buyer Agents of Boston, LLC Gary Dwyer, CRS, GRI, ABR 806 Tremont Street, Suite 2 Boston, MA 02118 617-997-5570 Office 617-507-8104 Fax [email protected] www.buyeragentsofboston.com Coldwell Banker – Pena Realty Maria Peña 715 Broadway Everett, MA 02149 617-389-1777 Office 617-389-7160 Fax 617-201-0030 Cell [email protected] Coldwell Banker Residential Brokerage Marc Decker 1375 Beacon Street Brookline, MA 02446 617-731-2447 Office 617-731-4477 Fax [email protected] www.nemoves.com Provides Services in Spanish, Portuguese, Chinese, Farsi, Hungarian, Persian, Romanian, Italian, Lithuanian, Russian, French, and German. Keller Williams Realty Chris Kostopoulos 1151 Walnut Street Newton, MA 02461 617-751-4111 Office 617-607-9103 Fax [email protected] www.EasyBostonHomeSearch.com Prime Realty Group Norman O’Grady 480 Washington Street Brighton, MA 02135 617-254-2525 Office 617-254-9525 Fax [email protected] www.normanogrady.com www.primerealtygroup.org State Mortgage Programs MassHousing One Beacon Street Boston, MA 02108-3110 1-888-843-6432 Office [email protected] www.masshousing.com MassHousing provides affordable home mortgages and home improvement loans for low- and moderate income homebuyers. Features include 30-year terms, fixed interest rates and job loss protection insurance that helps pay your loan if you lose your job. Massachusetts Housing Partnership SoftSecond Loan Program 160 Federal Street, 2nd Floor Boston, MA 02110 1-800-752-7131 Office http://www.mhp.net/homeownership The SoftSecond Loan Program, offered by MHP, is a low-interest rate and low down payment mortgage program for eligible first-time homebuyers. SoftSecond offers valuable benefits toward the purchase of a condominium, single-family, two-family or three-family home in Massachusetts. Sustainable Living Directory of Community Resources Real Estate Sales Boston Building Resources Deb Beatty Mel 100 Terrace Street Roxbury, MA 02120 617-442-2262 Office 617-427-2491 Fax [email protected] www.bbmc.com A non-profit consumer co-op selling windows, doors, kitchens, weatherization products, and other building materials. Energy Federation Inc. 40 Washington Street, Suite 2000 Westborough, MA 01581-1088 800-379-4121 Office www.efi.org/store Energy Federation Inc. is an online store featuring over 1,000 energy efficiency related products for the home. EFI often automatically includes rebates into the price, making it easy to save on energy. Mass Energy Consumers Alliance Larry Chretien 284 Amory Street Boston, MA 02130 617-524-3950 Office 43 800-287-3950 Office 617-524-0776 Fax [email protected] www.massenergy.com Provides reduced-price fuel to members and information about energy efficiency. Mass Save 1-866-527-7283 www.masssave.com Mass Save provides residents in Massachusetts with free home energy assessments and low-cost energy efficiency improvements and services to help save energy and lower utility bills. Homeowners and renters are eligible for Mass Save services. NSTAR www.nstar.com Vida Verde Co-op 697 Cambridge Street, Suite 106 Brighton, MA 02135 617-202-5775 Office 617-779-9586 Fax [email protected] www.verdeamarelo.org Vida Verde is a Brazilian worker owned cleaning co-op that supports housecleaners in their profession while creating community and promoting healthy and environmentally friendly methods. Members use cleaning alternatives that do not harm the environment and protect both workers’ and clients’ health. Non-Profit & Other Resources Allston Brighton Community Development Corporation 20 Linden Street, Suite 288 Allston, MA 02134 617-787-3874 Office 617-787-0425 Fax [email protected] www.allstonbrightoncdc.org Action for Boston Community Development (ABCD) 178 Tremont Street Boston, MA 02111 617-357-6000 Office 617-423-9215 TTY www.bostonabcd.org 44 Coordinates youth, elderly, career development and other programs. Assists low-income families in obtaining funds to purchase home heating oil. American Consumer Credit Counseling 130 Rumford Avenue, Suite 202 Auburndale, MA 02466-1371 800-769-3571 Office 617-244-1116 Fax www.consumercredit.com Offers confidential credit counseling and financial management education to consumers nationwide. ACCC is dedicated to helping people regain control of their finances and plan for debt-free future. Citizens Housing and Planning Association (CHAPA) 18 Tremont Street, Suite 401 Boston, MA 02108 617-742-0820 Office 617-742-3953 Fax www.chapa.org CHAPA’s mission is to encourage the production and preservation of housing that is affordable to low-income families and individuals through research and advocacy campaigns. Fair Housing Center of Greater Boston 262 Washington Street Boston, MA 02108 617-399-0491 Office 617-399-0492 Fax [email protected] www.bostonfairhousing.org A non-profit organization focused on ending illegal housing discrimination in the Greater Boston area. Greater Boston Legal Services 197 Friend Street Boston, MA 02114 617-371-1234 Office 617-371-1228 TDD www.gbls.org Provides legal assistance to low-income people. Issues covered include housing, immigration, employment related concerns, public benefits, domestic violence, and legal issues of importance to elders. Calls taken M, Tu, Th, & F from 9am to 3pm. Massachusetts Affordable Housing Alliance (MAHA) 1803 Dorchester Avenue Dorchester, MA 02124 617-822-9100 Office 617-265-7503 Fax www.mahahome.org Conducts workshops for first-time homebuyers and homeowners. Coordinates statewide campaigns for increased investment in affordable rental and homeownership housing, including the SoftSecond Loan Program. Massachusetts Association of Community Development Corporations (MACDC) 15 Court Square, Suite 600 Boston, MA 02108 617-426-0303 Office 617-426-0344 Fax www.macdc.org Supports community development corporations (CDCs) in their efforts to encourage social change and empower poor and working class people through activities such as affordable housing development and rehabilitation, commercial real estate development, employment training, small business development, and community organizing. Massachusetts Bar Lawyer Referral Service 20 West Street Boston, MA 02111-1204 617-654-0400 Office www.masslawhelp.com Provides referrals to find real estate and other lawyers. Metropolitan Boston Housing Partnership (MBHP) Christopher Norris, Executive Director 125 Lincoln Street, 5th floor Boston, MA 02111-2503 617-859-0400 or 800-272-0990 Office [email protected] www.mbhp.org Offers help for individuals and families to find and retain affordable housing. Also provides rental voucher assistance, serving homeless, elderly, disabled, and low- and moderate-income residents of Boston and 29 surrounding communities. Specialized Housing, Inc. 45 Bartlett Crescent Brookline, MA 02446-2220 617-277-1805 Office 617-277-0106 Fax [email protected] www.specializedhousing.org This is the first housing program in the US to enable adults with special needs to own their own homes while receiving professional support. Specialized Housing, Inc. works with families seeking supportive independent living situations for adults with developmental disabilities, learning disabilities, traumatic brain injuries, physical disabilities, or psychiatric illness. Directory of Community Resources Joseph M. Smith Community Health Center 287 Western Ave Allston, MA 02134 617-783-0500 Office www.jmschc.org The Health Center’s physicians and Nurse Practitioners provide high quality, culturally competent, affordable care to people of all ages, from newborns to seniors. Transactional Law Clinics of Harvard Law School Brian Price, Director 6 Everett Street Cambridge, MA 02138 617-998-0101 Office 617-998-0146 Fax [email protected] HarvardTLC.org Business and Non-Profit Clinic, Real Estate Clinic, Entertainment Law Clinic West End House Boys and Girls Clubs 105 Allston Street Allston, MA 02134 617-787-4044 Office 617-787-4386 Fax [email protected] www.westendhouse.org 45 Offers youth programs, such as summer camps, and life shaping opportunities for youths. City of Boston Resources Boston Fair Housing Commission 1 City Hall Square, Room 966 Boston, MA 02201 617-635-2500 Office 617-635-3290 Fax http://www.cityofboston.gov/ civilrights/housing.asp Enforces city, state and federal housing laws. Boston Home Center 26 Court Street Boston, MA 02108 617-635-HOME (4663) Office www.bostonhomecenter.com Provides foreclosure prevention services, homeownership education, information to first-time homebuyers and homeowners, as well as financial assistance to income-eligible residents for home purchase and repair, including lead paint abatement. Provides Services in Spanish and Creole Boston Redevelopment Authority 1 City Hall Square Boston, MA 02201 617-722-4300 Office http://www. bostonredevelopmentauthority.org Runs affordable rental and homeownership lotteries. Inspectional Services 617-635-5300 Office www.cityofboston.gov/isd Provides information regarding building permits, legal occupancy, and zoning. Conducts free home inspections at tenant’s request. Lead Safe Boston 617-635-0190 Office http://www.cityofboston.gov/dnd/bhc/ Lead_Safe_Boston.asp Offers affordable de-leading options. 46 Rental Housing Resource Center 617-635-4200 Office [email protected] www.cityofboston.gov/rentalhousing Provides information and assistance to tenants and mediates landlord/tenant disputes. Elected Officials To find your local elected officials and voting information, visit the following sites: http://www.wheredoivotema.com http://www.malegislature.gov/People/ Search http://vote-usa.org/ Federal Government The President of the United States Barack Obama The White House 1600 Pennsylvania Avenue NW Washington, DC 20500 202-456-1414 Switchboard 202-456-2461 Fax [email protected] www.whitehouse.gov U.S. Senator John Kerry 1 Bowdoin Square, 10th floor Boston, MA 02214 617-565-8519 Office 617-248-3870 Fax www.kerry.senate.gov U.S. Senator Elizabeth Warren *Contact information unavailable at the time of print. You can check for updates on Senator Warren’s website: www.elizabethwarren.com U.S. Representative Michael Capuano 110 First Street Cambridge, MA 02141 617-621-6208 Office 617-621-8628 Fax www.house.gov/capuano City of Boston Governor Deval Patrick Office of the Governor State House, Room 280 Boston, MA 02133 888-870-7770 or 617-725-4005 Office 617-727-3666 TTY 617-727-9725 Fax [email protected] www.mass.gov Mayor of Boston Thomas M. Menino One City Hall Square, Suite 500 Boston, MA 02201 617-635-4500 Office 617-635-2851 Fax [email protected] www.cityofboston.gov/mayor Massachusetts Attorney General Martha Coakley One Ashburton Place Boston, MA 02108-1698 617-727-2200 Office 617-727-4765 TTY [email protected] www.ago.state.ma.us State Representative Kevin Honan State House, Room 38 Boston, MA 02133 617-722-2470 Office 617-722-2162 Fax [email protected] www.mass.gov/legis/member/kgh1. htm State Representative Michael Moran State House, Room 443 Boston, MA 02133 617-722-2460 Office [email protected] www.mass.gov/legis/member/mjm1. htm State Senator William Brownsberger State House, Room 213A Boston, MA 02133 617-722-1280 Office [email protected] http://www.malegislature.gov/People/ Profile/wnb1 State Senator Sal DiDomenico State House, Room 218 Boston, MA 02133 617-722-1650 Office [email protected] http://www.malegislature.gov/People/ Profile/SND0 Councilor At-Large Felix Arroyo Boston City Hall 1 City Hall Square, 5th Floor Boston, MA 02201 617-635-4205 Office 617-635-4203 Fax [email protected] www.cityofboston.gov/citycouncil Councilor At-Large John Connolly Boston City Hall 1 City Hall Square, 5th floor Boston, MA 02201 617-635-3115 Office 617-635-4203 Fax [email protected] www.cityofboston.gov/citycouncil Directory of Community Resources State Government Councilor At-Large Stephen Murphy Boston City Hall 1 City Hall Square, 5th Floor Boston, MA 02201 617-635-4376 Office 617-635-4203 Fax [email protected] www.cityofboston.gov/citycouncil Councilor At-Large Ayanna Pressley Boston City Hall 1 City Hall Square, 5th Floor Boston, MA 02201 617-635-4217 Office 617-635-4203 Fax [email protected] www.cityofboston.gov/citycouncil Councilor Mark Ciommo 1 City Hall Plaza, 5th Floor Boston, MA 02201 617-635-3113 Office 617-635-4203 Fax [email protected] www.cityofboston.gov/citycouncil 47 48