Weighing up to several hundred pounds, the garage door is the heaviest moving item in your house. To avoid garage door injuries and help ensure safe, reliable operation, follow these tips from Door & Access Systems Manufacturers Association International and the U.S. Consumer Product Safety Commission.
Test the balance. To see if your garage door's springs and cables are working properly, close the door and engage the automatic opener's release mechanism or emergency disconnect. You'll know your door is balanced if it opens and closes easily by hand and stays 3-4 feet above the floor when you let go. Consult a professional if you don't feel comfortable doing this yourself.
Inspect the hardware. Periodically examine the garage door's screws, rollers, hinges and other moving parts for wear, rust or other structurally compromising damage. Giving the parts an occasional coat of lightweight oil will help prevent rust. Avoid using thicker oils and grease.
Check the safety reversal system. If your garage-door opener was made after 1993, it likely has an auto-reverse safety function. In most cases, this is a sensor beam that stops and reverses the door if the beam is disrupted while the door is moving. If your opener doesn't have this feature, it's best to replace it. If your opener does have an auto-reverse mechanism, test it by placing a 2x4 in the door's path before closing it. If the door doesn't stop and reverse upon sensing the object, the opener needs repair.
Call in the pros. Whether you're dealing with broken hardware or you need to replace your door altogether, it's best to hire a trained technician to do the job. Garage door springs, cables and hardware are under high tension and can cause serious injury or death if they break or come loose.
Source: State Farm
Wednesday, August 18, 2010
Wednesday, August 11, 2010
Friday, August 6, 2010
Mortgage Rates Dip below 4%..
WASHINGTON (AP) -- A plunge in mortgage rates is giving homeowners a rare opportunity to lock in a 15-year fixed-rate loan for less than 4 percent.
Rates haven't dipped this low in decades. For those who can qualify, it's the chance to pay off a home in half the time while saving tens of thousands of dollars -- if not more.
But the lower rates on short-term loans are not likely to ignite the refinancing market. Most people can't afford the higher monthly payments required by a 15-year fixed mortgage compared with a more traditional 30-year loan.
"That's not what most people need right now. They need lower payments," said Leif Thomsen, CEO of Walpole, Mass.-based lender Mortgage Master Inc.
High unemployment, slow job growth and tight credit have hampered the housing industry. And fewer people are also in position to refinance, because low real estate prices have left many with little equity in their homes. Many people who would qualify have already refinanced in the past year.
The average rate on the 15-year fixed loan dropped to 3.95 percent last week, according to mortgage company Freddie Mac. That's the lowest on records the company has kept since 1991. The average rate for a 30-year fixed loan fell to 4.49 percent. Rates haven't been that low since the 1950s, when longer-term mortgages typically lasted 20 to 25 years.
On the surface, there might not seem to be a huge difference in the two rates, both of which are historically low. But consider the savings on a $200,000 mortgage over 15 years at the current rates.
A borrower who refinances over that term could expect to save $65,000 in interest compared with the 30-year fixed loan. Still, they would pay $1,474 a month before taxes and insurance. With the 30-year loan, the payments would be $1,010 a month.
Most people in a weak economy don't have an extra $464 a month.
Peter Thompson, senior loan officer with Prospect Mortgage in Naperville Ill., said 15-year loans make up about 20 percent of his refinancing business these days. They are popular among homeowners with solid finances and plenty of equity in their homes.
"They're not the people who bought within the past five years," he said. "You're looking at very well-qualified people who have owned their home for a while."
In the refinancing boom of 2003, when the economy was healthier, moving from a 30-year loan to a 15-year loan was more common. Loans with 15-year terms made up about a third of mortgages backed by Fannie Mae and Freddie Mac. Now, that number is around 20 percent, according to data from Credit Suisse.
Credit Suisse mortgage strategist Mahesh Swaminathan said the ideal candidate already has considerable savings or a high monthly income.
"It's just problematic for borrowers who don't have that cash flow," he said.
Applications to refinance loans rose 1.3 percent last week and those to purchase homes increased 1.5 percent, according to the Mortgage Bankers Association. That's hardly enough to energize the housing market.
Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.
To calculate the national average, Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.63 percent, down from 3.76 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.55 percent from 3.64 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for all loans.
Source: http://finance.yahoo.com/news/Mortgage-rates-hit-low-of-449-apf-739903100.html?x=0
Rates haven't dipped this low in decades. For those who can qualify, it's the chance to pay off a home in half the time while saving tens of thousands of dollars -- if not more.
But the lower rates on short-term loans are not likely to ignite the refinancing market. Most people can't afford the higher monthly payments required by a 15-year fixed mortgage compared with a more traditional 30-year loan.
"That's not what most people need right now. They need lower payments," said Leif Thomsen, CEO of Walpole, Mass.-based lender Mortgage Master Inc.
High unemployment, slow job growth and tight credit have hampered the housing industry. And fewer people are also in position to refinance, because low real estate prices have left many with little equity in their homes. Many people who would qualify have already refinanced in the past year.
The average rate on the 15-year fixed loan dropped to 3.95 percent last week, according to mortgage company Freddie Mac. That's the lowest on records the company has kept since 1991. The average rate for a 30-year fixed loan fell to 4.49 percent. Rates haven't been that low since the 1950s, when longer-term mortgages typically lasted 20 to 25 years.
On the surface, there might not seem to be a huge difference in the two rates, both of which are historically low. But consider the savings on a $200,000 mortgage over 15 years at the current rates.
A borrower who refinances over that term could expect to save $65,000 in interest compared with the 30-year fixed loan. Still, they would pay $1,474 a month before taxes and insurance. With the 30-year loan, the payments would be $1,010 a month.
Most people in a weak economy don't have an extra $464 a month.
Peter Thompson, senior loan officer with Prospect Mortgage in Naperville Ill., said 15-year loans make up about 20 percent of his refinancing business these days. They are popular among homeowners with solid finances and plenty of equity in their homes.
"They're not the people who bought within the past five years," he said. "You're looking at very well-qualified people who have owned their home for a while."
In the refinancing boom of 2003, when the economy was healthier, moving from a 30-year loan to a 15-year loan was more common. Loans with 15-year terms made up about a third of mortgages backed by Fannie Mae and Freddie Mac. Now, that number is around 20 percent, according to data from Credit Suisse.
Credit Suisse mortgage strategist Mahesh Swaminathan said the ideal candidate already has considerable savings or a high monthly income.
"It's just problematic for borrowers who don't have that cash flow," he said.
Applications to refinance loans rose 1.3 percent last week and those to purchase homes increased 1.5 percent, according to the Mortgage Bankers Association. That's hardly enough to energize the housing market.
Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.
To calculate the national average, Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.
Rates on five-year adjustable-rate mortgages averaged 3.63 percent, down from 3.76 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.55 percent from 3.64 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for all loans.
Source: http://finance.yahoo.com/news/Mortgage-rates-hit-low-of-449-apf-739903100.html?x=0
Friday, July 30, 2010
Top 25 Firms to Watch in the Triangle!
Twenty high-tech and life science firms from the Triangle and five others from across the state make up the first “25 N.C. Companies To Watch” list from the Council for Entrepreneurial Development.
The winners, which were announced Tuesday, will be feted at an event on Sept. 23 in Raleigh. Selection criteria included growth in revenue and numbers of employees.
According to the CED, from 2006-2009 the selected firms produced $334 million in revenue and added 443 employees. Overall revenues for those firms grew 232 percent.
Headcount, meanwhile, increased 176 percent.
The Triangle firms:
•Affinergy, Inc. – www.affinergy.com (Research Triangle Park)
•BlueStripe Software, Inc. – bluestripe.com (Morrisville)
•Bronto Software – www.bronto.com (Durham)
•Clinipace Worldwide – www.clinipace.com (Morrisville)
•Consolidated Asset Recovery Systems, Inc. -- www.ez-recovery.com (Raleigh)
•Digitalsmiths – www.digitalsmiths.com (Research Triangle Park)
•Entex Technologies Inc. – www.entexinc.com (Chapel Hill)
•Inlet Technologies – www.inlethd.com (Raleigh)
•Kyma Technologies, Inc. – www.kymatech.com (Raleigh)
•Liquidia Technologies – www.liquidia.com (Durham)
•PocketGear, Inc. – www.pocketgear.com (Durham)
•SciMetrika, LLC – www.scimetrika.com (Durham)
•Semprius, Inc. – www.semprius.com (Durham)
•ShareFile – www.sharefile.com (Raleigh)
•ShopBot Tools – www.shopbottools.com (Durham)
•The Select Group – www.selectgroup-rtp.com (Raleigh)
•Themis Group – www.themis.com (Durham)
•TheraSim, Inc. – www.therasim.com (Durham)
•TransEnterix, Inc. – www.transenterix.com (Morrisville)
•Tranzyme Pharma – www.tranzyme.com (Durham)
From elsewhere across the state:
•3tailer – www.3tailer.com (Charlotte)
•DataChambers, LLC – www.datachambers.com (Winston-Salem)
•goodmortgage.com – goodmortgage.com (Charlotte)
•Piedmont Pharmaceuticals, LLC – www.piedmontpharma.com (Greensboro)
•Yap – yapme.com (Charlotte)
“These companies exemplify the innovation and entrepreneurial spirit that lead to success in the marketplace and in the future,” said CED President Joan Siefert Rose.
The winners were selected from 190 nominees. All are privately held and employ between 6 and 99 people while producing between $1 million and $50 million in annual revenues.
The Edward Lowe Foundation is partnering with the CED on the new program.
Source: http://localtechwire.com/business/local_tech_wire/news/blogpost/8041498/
The winners, which were announced Tuesday, will be feted at an event on Sept. 23 in Raleigh. Selection criteria included growth in revenue and numbers of employees.
According to the CED, from 2006-2009 the selected firms produced $334 million in revenue and added 443 employees. Overall revenues for those firms grew 232 percent.
Headcount, meanwhile, increased 176 percent.
The Triangle firms:
•Affinergy, Inc. – www.affinergy.com (Research Triangle Park)
•BlueStripe Software, Inc. – bluestripe.com (Morrisville)
•Bronto Software – www.bronto.com (Durham)
•Clinipace Worldwide – www.clinipace.com (Morrisville)
•Consolidated Asset Recovery Systems, Inc. -- www.ez-recovery.com (Raleigh)
•Digitalsmiths – www.digitalsmiths.com (Research Triangle Park)
•Entex Technologies Inc. – www.entexinc.com (Chapel Hill)
•Inlet Technologies – www.inlethd.com (Raleigh)
•Kyma Technologies, Inc. – www.kymatech.com (Raleigh)
•Liquidia Technologies – www.liquidia.com (Durham)
•PocketGear, Inc. – www.pocketgear.com (Durham)
•SciMetrika, LLC – www.scimetrika.com (Durham)
•Semprius, Inc. – www.semprius.com (Durham)
•ShareFile – www.sharefile.com (Raleigh)
•ShopBot Tools – www.shopbottools.com (Durham)
•The Select Group – www.selectgroup-rtp.com (Raleigh)
•Themis Group – www.themis.com (Durham)
•TheraSim, Inc. – www.therasim.com (Durham)
•TransEnterix, Inc. – www.transenterix.com (Morrisville)
•Tranzyme Pharma – www.tranzyme.com (Durham)
From elsewhere across the state:
•3tailer – www.3tailer.com (Charlotte)
•DataChambers, LLC – www.datachambers.com (Winston-Salem)
•goodmortgage.com – goodmortgage.com (Charlotte)
•Piedmont Pharmaceuticals, LLC – www.piedmontpharma.com (Greensboro)
•Yap – yapme.com (Charlotte)
“These companies exemplify the innovation and entrepreneurial spirit that lead to success in the marketplace and in the future,” said CED President Joan Siefert Rose.
The winners were selected from 190 nominees. All are privately held and employ between 6 and 99 people while producing between $1 million and $50 million in annual revenues.
The Edward Lowe Foundation is partnering with the CED on the new program.
Source: http://localtechwire.com/business/local_tech_wire/news/blogpost/8041498/
Monday, July 26, 2010
Credit Do’s & Don’ts Before Closing:
A new rule (Fannie) called Loan Quality Initiative went into effect on July 1, 2010 that requires lenders, BEFORE CLOSING, to check credit to make sure borrowers have not incurred any new debts. If borrowers incur MORE debt, and it affects the underwriting ratios by more than 2%, the loan will have to be re-underwritten prior to closing.
Don’t – Allow multiple credit checks
Don’t – Apply for new credit within 45 days of signing a contract
Don’t – Shop for new credit before closing (Furniture, cars, etc)
Don’t – Go on a spending spree (using your credit limits) to buy things for your new home.
Do – File tax returns and/or extensions
Do – Explain or documents all inquiries on your credit report
Do – Disclose all Debt—even if it did not show up on your credit report
Do – Work with a knowledgeable lender
The information provided has been based on rules and regulations issued by Federal Agencies and interpreted by MortgageCurrentcy.com.
A new rule (Fannie) called Loan Quality Initiative went into effect on July 1, 2010 that requires lenders, BEFORE CLOSING, to check credit to make sure borrowers have not incurred any new debts. If borrowers incur MORE debt, and it affects the underwriting ratios by more than 2%, the loan will have to be re-underwritten prior to closing.
Don’t – Allow multiple credit checks
Don’t – Apply for new credit within 45 days of signing a contract
Don’t – Shop for new credit before closing (Furniture, cars, etc)
Don’t – Go on a spending spree (using your credit limits) to buy things for your new home.
Do – File tax returns and/or extensions
Do – Explain or documents all inquiries on your credit report
Do – Disclose all Debt—even if it did not show up on your credit report
Do – Work with a knowledgeable lender
The information provided has been based on rules and regulations issued by Federal Agencies and interpreted by MortgageCurrentcy.com.
Tuesday, July 13, 2010
IBM to hire 600 workers!
RESEARCH TRIANGLE PARK, N.C. – IBM’s announcement last week about bringing 600 jobs to RTP as part of a subsidiary is the end result of a demise for one project in Charlotte and the transfer of 50 jobs to the Triangle from the Queen City.
The Triangle also won out over Atlanta and Dallas as IBM (NYSE: IBM) mulled where to place workers as it expanded the Lender Business Process Services group.
The Department of Commerce said Monday that IBM decided in March to not proceed with an expansion of the same operation in Charlotte, which had been announced in 2008.
Instead, IBM wrote Secretary of Commerce Keith Crisco at that time, saying that it “seeks a partnership” with North Carolina to “grow and develop” the subsidiary’s operations “at its existing Raleigh facility.”
Gov. Bev Perdue announced the partnership last Thursday under which IBM would invest $3.7 million in the facility and create 600 jobs with an average wage of $50,000.
IBM and the state signed a “Community Economic Development Agreement” under which IBM would receive $7.79 million in rebates for state employee withholding taxes over 10 years.
The agreement also requires IBM to “retain” 95 existing jobs at the subsidiary called IBM Lender Business Services.
According to the Department of Commerce, some 45 people had already been hired in RTP for the center and another 50 will be transferred from Charlotte.
IBM must meet requirements of 360 new jobs in 2010 and 540 total through 2011 in order to prevent default on the agreement.
In 2008, IBM decided to expand its mortgage-processing center in Charlotte and hire 600 workers over the next four years. IBM said it would invest $2.4 million in the new center, which was to include a “mortgage academy” for employee training.
If IBM creates all the jobs called for in the JDIG agreement, it would have received more than $9.7 million in tax rebates based on workers’ wages.
The services group already had 68 people based at its headquarters in Charlotte when the 2008 expansion was announced.
In the March letter, IBM’s Terry Hansen, manager of Public Partnerships at IBM, wrote:
“Due to the unexpected economic downturn, plans for expansion of the Charlotte facility were not met and IBM does not expect to meet its original goals at that location.”
IBM also made an acquisition of another firm in the mortgage field.
“The acquisition has led to the development of new client contracts resulting in the need for IBM to expand employment for this business at one of several facilities where the company owns excess office space,” Hansen wrote.
Hansen narrowed the location for the jobs to Raleigh, Metro Atlanta and Metro Dallas, Hansen noted.
“Therefore, this letter is submitted to serve as notice to the Department of Commerce of IBM’s intent to terminate the 2008 Job Development Investment Grant agreement with the North Carolina Economic Investment Committee,” Hansen added.
IBM is hiring now for the RTP jobs. Information is available here.
Source: www.localtechwire.com
The Triangle also won out over Atlanta and Dallas as IBM (NYSE: IBM) mulled where to place workers as it expanded the Lender Business Process Services group.
The Department of Commerce said Monday that IBM decided in March to not proceed with an expansion of the same operation in Charlotte, which had been announced in 2008.
Instead, IBM wrote Secretary of Commerce Keith Crisco at that time, saying that it “seeks a partnership” with North Carolina to “grow and develop” the subsidiary’s operations “at its existing Raleigh facility.”
Gov. Bev Perdue announced the partnership last Thursday under which IBM would invest $3.7 million in the facility and create 600 jobs with an average wage of $50,000.
IBM and the state signed a “Community Economic Development Agreement” under which IBM would receive $7.79 million in rebates for state employee withholding taxes over 10 years.
The agreement also requires IBM to “retain” 95 existing jobs at the subsidiary called IBM Lender Business Services.
According to the Department of Commerce, some 45 people had already been hired in RTP for the center and another 50 will be transferred from Charlotte.
IBM must meet requirements of 360 new jobs in 2010 and 540 total through 2011 in order to prevent default on the agreement.
In 2008, IBM decided to expand its mortgage-processing center in Charlotte and hire 600 workers over the next four years. IBM said it would invest $2.4 million in the new center, which was to include a “mortgage academy” for employee training.
If IBM creates all the jobs called for in the JDIG agreement, it would have received more than $9.7 million in tax rebates based on workers’ wages.
The services group already had 68 people based at its headquarters in Charlotte when the 2008 expansion was announced.
In the March letter, IBM’s Terry Hansen, manager of Public Partnerships at IBM, wrote:
“Due to the unexpected economic downturn, plans for expansion of the Charlotte facility were not met and IBM does not expect to meet its original goals at that location.”
IBM also made an acquisition of another firm in the mortgage field.
“The acquisition has led to the development of new client contracts resulting in the need for IBM to expand employment for this business at one of several facilities where the company owns excess office space,” Hansen wrote.
Hansen narrowed the location for the jobs to Raleigh, Metro Atlanta and Metro Dallas, Hansen noted.
“Therefore, this letter is submitted to serve as notice to the Department of Commerce of IBM’s intent to terminate the 2008 Job Development Investment Grant agreement with the North Carolina Economic Investment Committee,” Hansen added.
IBM is hiring now for the RTP jobs. Information is available here.
Source: www.localtechwire.com
Monday, July 12, 2010
Kildaire Farm Road to get revamped!
One of Cary’s major transportation arteries will receive a $1 million overhaul starting this past Friday as part of a resurfacing project that will affect traffic flow in the area for roughly two months.
The North Carolina Department of Transportation has hired Rea Contracting to repave and reconfigure a four-mile stretch of Kildaire Farm Road from Walnut Street to Palace Green. In conjunction with resurfacing, milling and paving, the town of Cary and NCDOT will reconfigure lane patterns between Maynard Road and Walnut Street, adjusting the existing four-lane section to a three-lane section with a center turn lane and extra width for cyclists.
The work is scheduled to be finished by September.
The good news for commuters is that there should be no lane closures during rush hour. The town says closures may be implemented at anytime except Monday-Friday from 6-9 a.m. and 4-7 p.m. At least one lane in each direction will remain open at all times. Operations will mostly be under way at night.
The total cost of work on the state-maintained portions of Kildaire Farm Road from Palace Green to Byrum Street is $933,400. Cary will pay $27,820 for NCDOT to complete work on the town-maintained portions of Kildaire Farm Road that fall within the four-mile stretch.
Source: Triangle Business Journal
The North Carolina Department of Transportation has hired Rea Contracting to repave and reconfigure a four-mile stretch of Kildaire Farm Road from Walnut Street to Palace Green. In conjunction with resurfacing, milling and paving, the town of Cary and NCDOT will reconfigure lane patterns between Maynard Road and Walnut Street, adjusting the existing four-lane section to a three-lane section with a center turn lane and extra width for cyclists.
The work is scheduled to be finished by September.
The good news for commuters is that there should be no lane closures during rush hour. The town says closures may be implemented at anytime except Monday-Friday from 6-9 a.m. and 4-7 p.m. At least one lane in each direction will remain open at all times. Operations will mostly be under way at night.
The total cost of work on the state-maintained portions of Kildaire Farm Road from Palace Green to Byrum Street is $933,400. Cary will pay $27,820 for NCDOT to complete work on the town-maintained portions of Kildaire Farm Road that fall within the four-mile stretch.
Source: Triangle Business Journal
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