Consumer Corner
Reconsider That Fixer Upper: Financing option makes home improvement more attainable
(Family Features) For younger homeowners and first-time homebuyers in particular, money is likely to be tight. When most available cash is directed to the best possible down payment to secure a home in a desired neighborhood, there’s often little left for improvements.
According to a Profile of Buyers’ Home Feature Preference Report from the National Association of Realtors, 53% of homebuyers took on a home improvement project within three months of buying with kitchen projects being a priority for 47% of those surveyed. However, when buyers finance a home renovation into their mortgage application, they can broaden their options of available properties to include fixer-uppers that can be upgraded prior to move-in.
A finance option like the Guaranteed Rate Home Renovation Loan allows homebuyers to visualize the home they want versus the one that’s listed. By rolling renovation costs into their mortgage, buyers can enjoy a home tailored to their vision while paying a little extra each month for upgraded windows, siding, decks, kitchens, bathrooms or a walk-in closet. In many cases, the project can be completed after closing but prior to moving in with contractor commitments to stay within budget.
If cosmetic or structural improvements are needed when prospective homeowners find a property worth bidding on, they can work with a licensed loan officer to secure a home renovation loan. The borrower’s choice of contractor that meets the lender criteria submits an estimate that’s reviewed and validated by the lender. Once approved and the mortgage is closed, the renovation can begin with costs paid upfront, added to the loan and repaid as part of the mortgage.
Consider renovation projects like these:
Luxury Renovations are geared toward the enjoyment of a home. They might be as easy as updating an entertainment room or reworking existing landscaping or as complex as adding a swimming pool, hot tub, outdoor kitchen or fitness area.
Structural Renovations affect load-bearing elements like posts, beams or even the foundation or walls of the home. Some examples include adding a garage, raising a roof, converting rooms or adding square footage to the house.
Non-Structural Renovations do not affect load-bearing elements and are often more cosmetic, including remodeling kitchens or bathrooms, repainting, replacing siding and upgrading for accessibility.
Consider the out-of-pocket costs of similar non-structural renovation projects according to Remodeling Magazine’s 2023 Cost vs. Value Report when compared with the monthly price of financing via a Guaranteed Rate Home Renovation Loan based a sample mortgage payment of $2,525/month*.
- Bathroom remodel: $24,606 out of pocket versus $127 per month financed
- Hardwood flooring: $4,900 out of pocket versus $25 per month financed
- Finished basement: $18,400 out of pocket versus $95 per month financed
- Kitchen remodel: $77,939 out of pocket versus $402 per month financed
- Solar panels: $20,000 out of pocket versus $103 per month financed
Find more solutions to make the home renovation process easier at Rate.com.
Photos courtesy of Getty Images
*Example portions of payments allocated to renovation costs are based on a purchase price of $388,800, down payment of 20%, 30-year [fixed] rate mortgage at a rate of 6.69%/7.364% annual percentage rate (APR) and 360 mortgage payments of $2,525. FICO score and lock days based on 740 FICO and 45-day lock. Advertised rates and APR effective as of 05/25/23 and are subject to change without notice.
SOURCE:
Guaranteed Rate
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Automotive
The 2025 Ford Expedition: A Bold New Era for Families on the Move
2025 Ford Expedition
Dearborn, Mich., Oct. 3, 2024 – The all-new 2025 Ford Expedition is more than just an upgrade—it’s a full transformation. Specifically designed for today’s active families, the reimagined Expedition now offers enhanced space, cutting-edge technology, unmatched versatility, and superior capability. A standout addition to the lineup is the first-ever Ford Expedition TREMOR®, designed for those who seek adventure off the beaten path.
A Technological Revolution
At the heart of the all-new Expedition is the innovative Ford Digital Experience, which turns the cabin into a seamless, family-friendly command center. Families will enjoy the benefits of a new 24-inch panoramic digital display complemented by wireless Apple CarPlay® and Android Auto™ connectivity. This technology-driven approach ensures that every member of the family stays connected, entertained, and informed, whether you’re on a cross-town errand or a cross-country road trip.
Introducing the Expedition TREMOR
For families craving off-road excitement, the Expedition TREMOR is the most capable version yet, boasting features like four-wheel drive, underbody shielding, massive 33-inch all-terrain tires, and best-in-class ground clearance. With advanced off-road technology, including an electronic locking rear differential, it is engineered to tackle everything from rocky trails to muddy paths with confidence.
Designed for Versatility
The revamped design isn’t just about aesthetics; it’s about practicality. The new Ford Split Gate tailgate system is a game-changer, turning the rear vehicle space into a vibrant communal area with options to configure seating or create a table-like setup—perfect for tailgating or camping trips. Meanwhile, the innovative sliding front center console ensures easy storage access for those in the front and second rows, making this SUV as versatile inside as it is out.
Engine Power and Capability
Under the hood, the Expedition offers a robust selection of powertrains. Standard models come with a powerful 3.5-liter EcoBoost® V6 engine, churning out 400 horsepower. For those who seek extra muscle, the TREMOR and Platinum models feature a high-output version of the same engine, delivering a thrilling 440 horsepower. This power ensures that no family adventure needs to be compromised.
Advanced Safety and Driving Assistance
Safety and ease of driving take center stage with Ford’s BlueCruise hands-free highway driving, now available on nearly 90% of the lineup. This sophisticated system enhances safety and reduces driving fatigue, especially on long family journeys. The feature provides access to innovative technologies like Lane Change Assist and In-Lane Repositioning, allowing for smoother, safer trips.
Entertainment and Connectivity
With Wi-Fi hotspot connectivity available for up to 10 devices, and Google Play apps integrated into the driving experience, the Expedition ensures that entertainment is always at your fingertips. Whether streaming the latest movies during a rest stop or navigating with Google Maps, the Expedition is truly an extension of your digital world.
Family-Friendly Features
Understanding the demands of modern family life, Ford has introduced thoughtful conveniences such as the new Digital Device Holder, which effortlessly secures tablets or phones, keeping them accessible during trips.
Order and Availability
Eager families can place their orders starting October 24, 2024, with the 2025 Expedition expected to arrive in showrooms by Spring 2025. Designed with input from real customers, the all-new Ford Expedition is ready to accompany families on adventures near and far, bringing more comfort, capability, and joy to every journey.
For those looking to explore further, more detailed specifications and availability can be found on Ford’s official site, ensuring you’re ready to embark on your next family adventure with the best that modern automotive engineering has to offer.
Learn More about the 2025 Ford Expedition here: https://media.ford.com/content/fordmedia/fna/us/en/news/2024/10/03/all-new-ford-expedition-fully-redesigned-for-families-with-big-l.html
Welcome to the Consumer Corner section of STM Daily News, your ultimate destination for savvy shopping and informed decision-making! Dive into a treasure trove of insights and reviews covering everything from the hottest toys that spark joy in your little ones to the latest electronic gadgets that simplify your life. Explore our comprehensive guides on stylish home furnishings, discover smart tips for buying a home or enhancing your living space with creative improvement ideas, and get the lowdown on the best cars through our detailed auto reviews. Whether you’re making a major purchase or simply seeking inspiration, the Consumer Corner is here to empower you every step of the way—unlock the keys to becoming a smarter consumer today!
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home improvement
5 Things to Consider Before Buying a Heat Pump
Considering energy efficiency, cost savings, suitability to climate, size, and installation, homeowners may benefit from replacing gas furnaces with electric heat pumps for heating and cooling.
(Family Features) If you’re like many homeowners who are considering ways to achieve greater energy efficiency, cut costs long term and reduce use of fossil fuels, replacing your gas furnace with an electric-powered heat pump may be part of the solution.
Like an air conditioner, a heat pump is installed outside the home and can cool it, but heat pumps are also capable of providing heat. In fact, many homeowners can’t tell the difference between a traditional heat pump and an air conditioner because they look alike and have similar hook-ups. However, in cooler months, a heat pump pulls heat from the cold outdoor air and transfers it indoors, and similarly, in warmer months, it pulls heat out of indoor air to cool your home.
When considering purchasing a heat pump for your home, it’s important to evaluate several factors to ensure you make an informed decision. Here are five key things to consider from the experts at Carrier, a leader in high-technology heating, air-conditioning and refrigeration solutions:
1. Energy Efficiency
Heat pumps are rated by their Heating Seasonal Factor, which is a measure of a heat pump’s overall energy efficiency during the heating season; their Seasonal Energy Efficiency Ratio (SEER2); and their Energy Efficiency Ratio. These ratings are like miles per gallon for a car: the higher the rating, the more energy-efficient the system is, which can lead to lower utility bills. For example, standard SEER2 ratings today are around 14.3 (and some older units are as low as 8), but units with a SEER2 rating above 16 have lower energy costs, which translates into higher energy savings.
2. Climate Suitability
Heat pumps are most efficient in areas with moderate temperate ranges. If you live in an area with extreme cold, you may need a heat pump designed for low temperatures such as Carrier’s Infinity Heat Pump with Greenspeed Intelligence, which operates at temperatures as low as minus 15 degrees. Or you can combine a heat pump with a gas furnace in colder climates for energy-efficient heating on all but the coldest days.
3. Cost and Incentives
While heat pumps can be more expensive initially, their efficiency can lead to long-term savings. Research available incentives, rebates and tax credits that can help offset some of the upfront cost. Many governments, manufacturers and utility companies also offer financial incentives for installing energy-efficient systems. For example, the Inflation Reduction Act of 2022 provides several tax credits, up to $2,000 for qualified heat pumps, and is available through 2032.
4. Size and Capacity
It’s essential to ensure the heat pump is the appropriate size for your home. An undersized unit may run virtually nonstop to try and maintain a comfortable temperature inside your home while an oversized unit will cycle on and off frequently, reducing efficiency and lifespan. A professional Carrier dealer can help you determine the correct size based on your home’s heating and cooling needs.
5. Installation and Maintenance
Professional and proper installation are crucial for optimal performance. Choose a reputable, experienced HVAC contractor to install your heat pump. The average lifespan of a well-maintained heat pump is 15 years. However, with varying conditions and homeowner habits, it could live well beyond that.
Understand the heat pump’s maintenance needs, including regular filter changes, coil cleaning and annual inspections to ensure longevity and efficiency. Without regular cleaning and maintenance, dirty coils can cause your system to work harder to keep up with demand, decreasing efficiency and increasing stress on the fans, motors and system components. Dirty, clogged air filters can restrict airflow, resulting in reduced comfort, higher utility bills and, in extreme cases, a total shutdown of the system.
By carefully considering these factors, you can choose a heat pump that best meets your home’s needs and provides efficient, reliable heating and cooling. Learn more at Carrier.com.
SOURCE:
Carrier
Welcome to the Consumer Corner section of STM Daily News, your ultimate destination for savvy shopping and informed decision-making! Dive into a treasure trove of insights and reviews covering everything from the hottest toys that spark joy in your little ones to the latest electronic gadgets that simplify your life. Explore our comprehensive guides on stylish home furnishings, discover smart tips for buying a home or enhancing your living space with creative improvement ideas, and get the lowdown on the best cars through our detailed auto reviews. Whether you’re making a major purchase or simply seeking inspiration, the Consumer Corner is here to empower you every step of the way—unlock the keys to becoming a smarter consumer today!
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STM Daily News
Widespread Verizon Outages Leave Customers in SOS Mode Nationwide
Verizon OutageVerizon customers across the U.S. faced major service disruptions, with over 100,000 outages reported. Phones reverted to SOS mode, affecting calls and Wi-Fi services. Restoration is ongoing.
Verizon customers across the United States are grappling with significant service disruptions this morning. Reports have flooded in that mobile phones are stuck in SOS mode, indicating a lack of connectivity. As of 10:11 a.m. ET, over 100,000 outages were logged with DownDetector, a real-time service tracker that monitors telecommunication issues nationwide.
Verizon Outages
The outage began around 9 a.m. ET, with customers from New York to Los Angeles experiencing inability to make phone calls or access the network. On social media platforms, disgruntled users have been vocal about the situation, with many demanding compensation for the service disruption.
One frustrated customer took to X (formerly Twitter) to express their dissatisfaction: “It’s been over two hours and we don’t even know why this is happening. We all pay a pretty penny for our Verizon bill, and this time should be compensated until the issue is fully resolved.”
What we know
Reports have cited that while users can’t access standard mobile services, their phones have reverted to SOS mode—rendering them unable to make calls. A customer from Ohio shared their experience: “SOS in Ohio since mid-morning. Was working on my drive into work, but went down several hours ago and hasn’t come back.”
In an emailed statement to CBS MoneyWatch, a Verizon spokesperson acknowledged the issue, stating, “We are aware of an issue impacting service for some customers. Our engineers are engaged and we are working quickly to identify and solve the issue.”
As the disruptions persist, issues are being noted across various devices, affecting both iPhone and Android users. The outages have also disrupted Wi-Fi calling services, which typically serve as an alternative connectivity method. As of 5:48 p.m. ET, Verizon announced that service restoration efforts were underway and gradually making progress, but customers are still experiencing challenges.
This marks a significant incident in a landscape where communication reliability is essential, and customers are left wondering about the cause of the outage. With many turning to social media to voice their concerns and seek resolutions, the call for timely updates from Verizon is clear.
The situation remains fluid, and Verizon customers are encouraged to stay informed as more information becomes available. If you’re experiencing issues with your Verizon service, let us know your experience in the comments below.
Stay tuned for further updates on this developing story.
https://www.cbsnews.com/news/verizon-outage-network-down-sos-mode-downdetector-map
https://www.fox10phoenix.com/news/verizon-outage-network-down-monday-september-30
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