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Show Home Magazine, Page 20 tfifbAiLY HkM'LD,'Friday July's,' I9tf " .Remodeling Q&A: Loans Orlando Sentinel Q. We are planning extensive remodeling on our older home within the next two to three months. We would like to take advantage of the equity in our home to pay for the $30,000 in improvements. What is the best way to do this? A. Home equity loans are one option during times of high mortinterest rates on fixed-rat- e gages. However, with today's low interest rates, refinancing your current mortgage to include the cost of improvements could be the more option. The new loan amount will incorporate the old mortgage balance, the cost of improvements and closing costs. For example: $100,000 current mortgage balance plus $30,000 in improvements plus $3,000 in closing costs (this includes your escrow accounts) equals a new loan amount of $133,000. cost-efficie- nt Sealing out moisture will prevent wood decay Orlando Sentinel Q. We would love to purchase and remodel an older wood home, but we have heard nightmare stories om our friends about wood homes having wood decay and mold problems. What can you tell us about wood decay and mold in wood homes? A.. Many wonderful old wooden homes and structures have sur1 throughout the United States. Some are centuries old and are still in service. Others may exhibit significant decay and rot within a few years. What separates the survivors from the rotters? Why are some houses a joy to come home to and 'others a maintenance and repair nightmare? Some houses have problems because design features and construction practices have allowed moisture to enter the structure and become trapped. This encourages fungal growth that can disfigure or destroy the vived building. To grow and do their dirty work, fungi require oxygen, moisture, a food source and warm temperatures. The easiest of these four requirements for you or your remodeler to control is moisture. n and wood-deca- y Mold, are the three principle fungi that attack wood. The nightmare begins when moisture enters wood and encourages fungal growth. The fungi increase the wood's permeability, which is its capacity to absorb moisture. The increased permeability allows more moisture to enter the wood, in turn, encouraging more fungal growth. It is a vicious circle. Mold fungi are the ones you see sap-stai- doop the staining the wood's surface. They may appear black, green, blue, n brown or yellow in color. fungi produce wedge-shape- d discolorations across the wood's growth rings. They usually appear blue to gray in color. Either type of fungi can be found growing on or through the home's paint, particularly on shaded areas of the home. Both mold n and fungi feed off and degrade the sapwood cells in the wood. The sapwood cells' degradation does little damage to the wood. The real damage is an increased permeability of the wood, which may encourage the growth of the more serious wwxl-deca- y fungi. A significant colonization of mold n and fungi, however, may reduce the strength of composition-wood products such as Oriented Strand Board, fiber boards, etc. These products contain a higher proportion of which makes them more susceptible to "decay. A properly constructed home seldom will have a moisture content above 15 percent. Mold and At an 8 percent interest rate, your principle and interest payment would be about $976. Depending on what the rates were when you secured your current mortgage, this may be an excellent way to lower your rate and increase the value of your home without draining your sav- ings. Q. With a third child on the way, we desperately need to add a new room. We love our house and ' will be. The new loan will incorporate location, and we don't want to move. the payoff on the current mortgage Unfortunately, we purchased plus the cost of improvements. our home just a few years ago with At the time of closing, the cura small down payment. We do not rent mortgage is paid off in full have equity or personal savings to with the proceeds of the new mortpay for the new room. gage, and the balance of the new has mortgage is set aside for the conHowever, my salary increased substantially, and "we tractor's- use to complete- - the could afford higher payments. improvements. How can we finance the cost of Each time a contractor requests '. Mid-Florid- a. Address questions to Ask the Remodeler, The Orlando Sentinel, P.O. Box 211, Orlando, Fla. 32802-021- 1. Holmes Homes Central Realty 25IEWartOraBri H gmiSiiiililllAtlMilMa tSsif 0Ra.Uak8W3 sap-stai- LEHI $191,900 OWNERS BEING TRANSFERRED nudri honr. Itapr floor port 3 bdnm possible h or ? ctnbil Mr Vaulted ceikiias, pbial sfcehcs ft Baches, baar lot b ha laaiii iptd arauao iM Mihfc is. Buifdrft 3 ha. DON ZIMMERMAN sap-stai- n LEHi LUXURYBY HOLMES tVuUM ifcriw-l- M. sap-stai- (See REMODEL, Page 21) 654-390- 2. Better 221-260- r 119,900 BRAND NEW -- triad mrm md (aacofofitvd bdnn, 2 ha. rVaahed MOVE-IN as wrw sundmsioo enhnrs, farnth m 23SsA DosMc i kvsb;. bemfonrsaie .iOWsAofstid BrtktHurrr! 221-260- 0 DON ZIMMERMAN MAPLETON $189,900 MAPLETON MODEL HOME Vaulted cribnp. $161,000 EARLY COMPLETE s Holota I Haw on bdrm, . koooj usque room. 2 5 bubs Brpa UtM rouw bo Vwa SrrpUct. nulled Ttai NEW-- N bonir buk DON ZIMMERMAN " ,P"fs SPANISH FORK 142,9O0 BEAUTIFUL RAMBLER lrtaurriTtebtijlftraaNnbiaT J bt 2 U hah. brer kadn afaadi air. Ved tntae. bnr bo ram a rf erpac Cnsri ar. ardaKtMl skatjes. W ada'dlMH. 221-260DON ZIMMERMAN e. mm Sfuiab Park an ia ajin . gas (He. FbB IrJscapiiit, f,. 1111 $13$,$00 BEAUTIFUL, BEAUTIFUL, BEAUTIFUL TWnioldiailialy,lrcmMiWtr(inilub. room, iutchrt, tmkri bnf room ctwiptrtr fpic lv inttfcrt ceiKna. pent shehes. fuB sukco ettrior ft JttM DON ZIMMERMAN w -- of sod. 221-260- ,1 1 1 LEHI $149-90- The 4 THIS RAMBLER HAS CLASS! 3bd2bbL!enOT.ceatra.iruroi wa'd tkna InH sea) b prrfea for a ptmt brmS J bd. 2 full bata, fanih room wrirpar, uflnfl'd 4th Irwf kkh kh pmtfy and saack bar. ensorutnc cooler Brick ft stucco esjrrior. 221-260- arex Vnlled cetbr co mmwjjd WOO tolled DON ZIMMERMAN Doold4bri 221-260- 0 TSBBfltf $l$6,9O0 tabdMMoa. (.staajr floor phut. Matt fireplace, 2.5 bi jl MAPLETON $176,$00 " MAPLETON RAMBLER I u bant Urattam )ldoraia. IMhaL2rjlb.unuin. rktwt im. Mplc. bi tat opea ft spacioM. qtiard cranw. wi&A aardea DON ZIMMERMAN ft notes, Ji THIS HOME HAS CLASS larar barm ran larlivscjrjrlftarba. 3 ba. I SPANISH FORK .r 0 New hoaae LEHI $149,000 GREAT LOCATION IN SMALL TOWN DON ZIMMERMAN 221-260- bdnm I car raner. sreum swjhh I dnks 221-260- 0 DON ZIMMERMAN All LEHI BRAND 4 Bin views, pfcal aarfves 7 ' LEHI ASSOC. pUnl spat 3 bdrm 2 full bate Vauhrd ceilinjs aparary ft snadt bar. 2 bays areai wvs. Bridl ft Mae, WU sf sod Ma 4 fungi need at least a 20 percent moisture content and warm temperatures just to get started. n Actively growing mold or fungi can be signs of a moisture problem that, if ignored, could lead to serious wood decay. Most people can tell if the growth is active by touching it. If the wood feels damp, the moisture content is probably higher than 20 percent and the growth is active. Wood that feels dry is probably host to an inactive growth. $136,900 & kit DON 'ZIMMERMAN 0 sap-woo- d, 654-751- caworotlofl . a draw, the lender requires lien releases to help reduce the risk of subcontractors placing liens on the property. This ensures that the homeowner does not pay for the project twice. The interest rate can be locked at any time during the application period or during construction. When construction is completed, the locked-i- n interest rate takes effect. Another closing is not nec' ,l essary. ;. Questions are answered by Elaine Griffith of Fidelity Funding Mortgage Corp. in Altamonte Springs, Fla. She is a member of the Remodelers Council, an arm of the Home Builders Association of Central Realty is Pleased to Represent sap-stai- or coiiNTRy uvin' s4Iai i our improvements? A. Congratulations on all your new additions. Your room addition can be financed as a constructionpermanent loan. The lender will base the loan amount on the future value of the home after the improvements. The future value is determined r by an appraisal that includes the present value of the home plus a review of what the improvements Sap-stai- children can run free and animals are welcome! A short Where out of the city trip through the beautiful Provo Canyon can get you for you. 3 in 2 homes We waiting have Wallsburg just congestion. bedrooms home on .9 acre lota located on Spring Creek surround6 or 3 ed by willow trees - $149,900. Call Chuck Zuercher bdrm home on .45 acre with carport and storage sheds. Fenced and will qualify FHA. $137,500. Call Darlene London 1 1 1 finance improvements will 221-260- lab ba ataNer bdrat. U aacco vtnreroa, PON ZIMMERMAN 221-260- was! ... LEHI $l42,$O0 HEARING COMPLETION irkoa)or.lfbrrtmr2rTaKI(J4IA(liirai 1.U0 afaafbi. phm. coharats. J bdrat. 2 enp. ban. raubrd cnkiNb. cooler. 3000 iA sua. DON ZIMMERMAN 221-260- 0 archeaft J , |