Archive for November, 2010

Freddie Mac is getting much tougher on borrowers!

Wednesday, November 24th, 2010

The derogatory credit policy as outlined below must be applied to all Freddie Mac loans, including loans run through LP. Be sure you understand the consequences before you make a credit altering decision!

Short Sale:

All short sales are now considered derogatory credit

If the short sale was due to extenuating circumstances, the recovery time period for re-establishment of credit is 24 months from the date of completion

If the short sale was due to financial mismanagement, the recovery time period for re-establishment of credit is 48 months from the date of completion

Bankruptcy:

If a Chapter 13 bankruptcy is caused by financial mismanagement, the recovery time period for re-establishment of credit is 48 months from dismissal date

The existing requirement of 24 months from discharge date remains in effect

Foreclosure:

If a foreclosure is caused by financial mismanagement, the recovery time period for re-establishment of credit is 84 months

Builders Of Lifelong Dreams

HOW TO BUILD A CUSTOM HOME, Part 20: Roof Trusses

Tuesday, November 23rd, 2010

In this series, the professionals at the B.O.L.D. Company will take you through the process of building a custom home in the Greater Cincinnati – Northern Kentucky area. From plan and lot selection, to mortgage approval, to the actual construction, we’ll take you behind-the-scenes each week for an inside look at a different part of the process.

This week, we look at framing and finishing the roof of a new home:

Quite commonly today, roofs are framed using pre-fabricated roof trusses, which are manufactured in a factory, trucked to the jobsite, and set with a crane. Engineered and manufactured in a controlled setting, roof trusses enable a faster, more economical, and more exact roofing project, even for complicated roof styles. In some situations, hand-framed roofing can still be a better option, but, by and large, roof trusses have become the norm.

Roof trusses sit on top of, are supported by, and are anchored to, the outside walls of the house. They are installed from one gable end of the house to the other. They are also secured to each other with 2×4 bracing, to create stability and strength in all directions.

The trusses themselves hang over the outside walls of the house, creating the eaves. On the gable ends, however, the overhang is created by installing rakeboards.

Soon after the trusses are fully installed, the roof exterior will be completed in order to keep the framing and other parts of the interior safe from the elements, both rain and wind. The surface of the roof is formed with sheets of OSB (oriented strand board, similar to plywood) which are attached one to another with plywood clips–this strengthens the surface of the roof and helps to avoid bowing. The OSB is also, of course, nailed to the trusses. On top of the OSB sheeting, black felt paper is laid. Felt paper is an underlayment for the shingles which provides waterproofing for the roof–any water that might find its way through or around the shingles will be repelled by the felt paper, which is filled with a bituminous waterproofing material, such as tar. The shingles are then laid atop the felt paper and installed according to manufacturer’s instructions.

As always, keep in mind that this is a generalization of common practices for the framing and roofing of a new home. Local building codes, available products, and engineering practices from one plan or one region to another may significantly change one or a few parts of this process. Each individual job deserves individual attention from an experienced contractor. For more information, contact the BOLD Company today!

B.O.L.D. Homes, a B.O.L.D. company, has been established as among the premiere Greater Cincinnati / Northern Kentucky custom home builders since 1986. We have well over 500 customer designed homes to our credit. Work one-on-one with the owners of the company – including a licensed real estate broker, a licensed real estate agent, a licensed professional engineer, and a CAD draftsman/designer – to design your dream home full of the features important to you. We can help you find a balance between luxury and budget.

Builders Of Lifelong Dreams

HOW TO BUILD A CUSTOM HOME, Part 19: Framing

Friday, November 5th, 2010

In this series, the professionals at the B.O.L.D. Company will take you through the process of building a custom home in the Greater Cincinnati – Northern Kentucky area. From plan and lot selection, to mortgage approval, to the actual construction, we’ll take you behind-the-scenes each week for an inside look at a different part of the process.

This week, we look at framing. This is the stage when the house really begins to take shape – walls go up and rooms are differentiated!

If the basement foundation consists of full-size walls all the way around, the first step of framing is to build the first-story subfloor (more about that later). However, in some cases, the foundation walls “step down”, that is to say, the foundation walls only reach part of the way to the basement ceiling on one or a few sides. Where this is the case, the remainder of the basement wall(s) is/are framed in wood. This scenario enables the brick-to-grade wrap on walk-out basements (brick-wrap means brick on all sides of the house; brick-to-grade means that the exterior walls are bricked to the ground, so that large areas of concrete foundation do not show).

When the basement foundation walls are full-size, either fully concrete or partially wood-framed, the next step is the first-story subfloor. The subfloor is secured to the foundation walls via treated lumber plates that are bolted to the top of the concrete walls with anchor bolts or anchor straps (see Part 16: Foundation). These bolts or straps are concreted to the top of the walls and provide a secure attachment for the framing above them. The connector plates are made from pressure treated lumber because the treatment creates resistance in the wood to both moisture and insects. Because concrete tends to attract or absorb moisture, the wood that comes in contact with it must be protected.

The subfloor consists of 2×10 joists (wood beams) that lie parallel to one another across the top of the foundation, providing support for the OSB (“oriented strand board”, a product similar to plywood) that creates the surface of the floor of the first (or second, or third…) story. It is referred to as the “subfloor” because the material that will cover it – carpet, tile, hardwood, vinyl, and its corresponding underlayment – will be the actual “floor”.

Next, the walls are framed using 2x4s. Both the exterior and interior walls are formed, including window and door openings, too. This is what really gives the home shape. For the first time, room dimensions and locations leave the paper blueprints and come to life!

For a one-story, or ranch-style, home, the next step is framing the roof. However, for a two-story home, another subfloor is laid atop the first-story walls, and then the second-story walls are framed. Then, the roof! But that is a topic for another week…

As always, keep in mind that this is a generalization of common practices for the framing of a new home. Local building codes, available products, and engineering practices from one plan or one region to another may significantly change one or a few parts of this process. Each individual job deserves individual attention from an experienced contractor. For more information, contact the BOLD Company today!

B.O.L.D. Homes, a B.O.L.D. company, has been established as among the premiere Greater Cincinnati / Northern Kentucky custom home builders since 1986. We have well over 500 customer designed homes to our credit. Work one-on-one with the owners of the company – including a licensed real estate broker, a licensed real estate agent, a licensed professional engineer, and a CAD draftsman/designer – to design your dream home full of the features important to you. We can help you find a balance between luxury and budget.

Builders Of Lifelong Dreams

What Home Owners Need to Know About Lead Paint

Thursday, November 4th, 2010

The U.S. Environmental Protection Agency enacted a new rule for professional contractors in April 2010 to help keep small children safer from the dangers of lead dust exposure.

If you live in a home built before 1978 and you’re contemplating any work that will disturb more than six square feet of painted surfaces inside the home or 20 square feet on the exterior of the home – for example, replacing a window, installing cabinets, or adding on to your home – the contractor you hire is required by law to be trained and certified by the EPA.

Keep your family safe from the dangers of lead exposure by hiring an EPA Lead-Safe Certified Renovator. Call your local home builders’ association for a list of certified remodelers or use the tool at www.leadfreekids.org to find one near you.

Tips for Home Owners

  1. Hire an EPA Lead-Safe Certified Renovator for your home remodeling project.
    Professional remodelers who have achieved EPA Lead-Safe Certification are trained and prepared to work in pre-1978 homes for minimizing dust and potential lead paint exposures. These workers also have certified their firms and will carry an EPA seal verifying their qualifications to follow lead-safe work practices. Certified Renovators have the knowledge and tools to contain dust and keep your family safe. Do not attempt remodeling work yourself or hire an uncertified remodeler as this puts you at risk of lead poisoning. Use the search tool on the EPA website to find a Lead-Safe Certified Renovator near you or call your local home builders’ association for a list of certified remodelers.
  2. Read Renovate Right.
    Your Certified Renovator will provide you a copy of the Renovate Right brochure produced by the EPA. This brochure describes the dangers of lead poisoning and how the practices of the remodeler will be employed to contain dust, clean, and minimize the dangers of lead paint exposure.
  3. Pay attention to warning signs and do not enter containment areas.
    The Certified Renovator will post warning signs and set up areas of containment using plastic to keep dust under control. Pay attention to these notices and stay away from these areas. The remodeler uses these techniques and lead-safe work practices to minimize lead dust exposure.
  4. Consider testing for lead.
    You may ask the Certified Renovator to use LeadCheck or D-Lead test kits for testing certain surfaces for lead. If the test comes back negative, the remodeler will not need to use lead safe work practices because the component has tested lead-free. Alternatively, a home owner may choose to hire a certified risk assessor or lead inspector to conduct testing in the home for lead. Any pre-1978 home can be tested for lead and if the results are negative, the EPA lead rule does not apply.
  5. Maintain records about your home remodel.
    After the remodeling job is complete the EPA Certified Renovator will share records with you, such as a checklist describing the work practices used and any results from lead testing. Be sure to keep these records and share them with the next home owner if you should sell your home.

Learn more about EPA’s lead paint rule by visiting http://www.leadfreekids.org/ or by downloading the pamphlet, Renovate Right.

The BOLD Company is an EPA Lead-Safe Certified Renovator and can help you with your eremodeling project.

Builders Of Lifelong Dreams