Helpful Booklets Free for the Asking
The terms free and real estate are rarely used in the same conversation, much less the same breath. But a variety of real estate sources, from trade groups to lenders, offer an array of free booklets, brochures and other items that can help property owners and would-be home buyers save money and live better.
The list of available “freebies” is long. Here are some of the best offerings, separated by the groups that may be most interested:
Home buyers: Consumers who have never bought a home often need all the help they can get when it comes to understanding the mortgage maze. Fortunately, a number of groups will help with the navigation.
Great Western Bank offers two good, nonpartisan brochures. “How to Shop for a Home” provides information on how to pick a realtor, what to look for in a neighborhood, and what to expect in the loan application process. “How to Shop for a Loan” describes various types of mortgages, different sources of financing, and includes a list of questions consumers can ask when “comparison shopping” among lenders.
The booklets are available from Great Western loan offices, or can be ordered by calling toll-free: 800/492-7587.
The Mortgage Bankers Assn. also offers a brochure on the various types of home loans, and a primer on the loan application process. It can be obtained through the group’s consumer affairs department, 1125 15th St. N.W., Washington, D.C. 20005.
First-time buyers, as well as seasoned investors, may be interested in “How to Buy a Foreclosed Home,” a brochure that discusses the opportunities in foreclosures and details the program operated by the Federal National Mortgage Assn. It can be obtained by calling the agency toll-free: 800/553-4636.
Upon request, the association will also furnish callers with a free, computerized list of foreclosures it has available in their area.
Homeowners: Folks befuddled by recent changes in the nation’s tax codes may find help in “Dealing with the Tax Laws,” by accountants Coopers & Lybrand. The 60-page booklet is geared toward builders and investors, but also contains useful information for homeowners. It can be obtained from Coopers & Lybrand, 1000 W. 6th St., Los Angeles 90017.
The Internal Revenue Service also offers several brochures that explain how the new tax laws affect real estate, and how to fill out all those complicated forms. Information: 800/424-1040.
Millions of borrowers who have adjustable-rate mortgages linked to the popular 11th District Cost of Funds Index can determine where the index stands--and whether their payments will eventually be heading up or down--by phoning the Federal Home Loan Bank of San Francisco’s toll-free information hot line: 800/824-6560.
Homeowners who want to do their part in cleaning up the environment can get a list of ecologically safe alternatives to store-bought commercial products--many of which are toxic--by sending a self-addressed, stamped envelope to Citizens for a Better Environment, 971 N. La Cienega Blvd., Suite 204, Los Angeles 90069.
A similar list can be obtained by sending a self-addressed, stamped envelope to People for the Ethical Treatment of Animals, P.O. Box 42516, Washington, D.C. 20015.
Many local water and power companies offer free water-saving kits and energy conservation tips. Elected city and county officials provide a variety of free booklets, from service directories to crime-fighting suggestions. All are in the white pages of the telephone book.
Older homeowners should be particularly interested in a 44-page book that the American Assn. of Retired Persons offers free to members and non-members. It provides detailed information on various ways that homeowners can tap their equity to live better in their retirement years.
Requests should be sent on a post card to “Home-Made Money: Consumer’s Guide to Home-Equity Conversion,” AARP Fulfillment, P.O. Box 2240, Long Beach 90801.
Investors: Apartment and office-building owners who are looking for a management firm may want to send away for “Solving the Property Management Puzzle: Selecting the Right Firm for Your Investment.” The guide can be obtained by writing to Information Coordinator, Institute of Real Estate Management, 430 N. Michigan Ave., Chicago, Ill. 60611.
Investors interested in real estate investment trusts (REITs)--publicly traded companies that build, buy and finance property--can obtain a list of more than 100 REITs, plus their stock exchange “ticker symbols,” by writing to the National Assn. of Real Estate Investment Trusts, 1129 20th St. N.W., Washington, D.C. 20036.
Even more useful is the trade group’s monthly statistical report, “REIT Line,” which tracks how the overall trust industry is faring and includes information about individual companies. A copy of the report is free, but requests must be accompanied by a self-addressed, business-sized envelope with 45 cents postage.
Investors in commercial and industrial real estate or apartment buildings can get answers to basic legal questions by calling the free “real estate hot line” operated by the Los Angeles office of attorneys Rogers & Wells. Alex N. Fafenrodt and Michael Murphy, two partners in the firm, will answer basic questions that don’t require research. The number: 213/580-1214.
