Some Good Advice and It’s Free
The terms “free” and “real estate” are rarely used in the same conversation, much less the same breath.
But a variety of sources, from the federal government and trade groups to lenders and nonprofit agencies, offer an array of free booklets and other items that can help homeowners, and those who would like to be, save money and live better.
The list of available freebies is long. Here are some of the best offerings, grouped for those who may be most interested:
Home Buyers
First-time borrowers 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 should ask when “comparison shopping” among lenders.
Great Western also offers a free “mortgage calculator,” which can help you figure out how much your monthly mortgage payments would be based on different interest rates.
You can get the booklets or calculator at most Great Western loan offices. Or you can order them toll-free: (800) 492-7587.
Lending giant Home Savings of America also offers a good booklet on buying a house and another on getting a loan. You can pick up your free copy of “HouseHunt” or “LoanHunt” by calling or visiting the Home Savings branch nearest you.
The Mortgage Bankers Assn. of America also provides 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. NW, 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.
Fannie Mae also offers a brochure on its new “3/2 loan program,” which allows buyers to purchase a home with a down payment as small as 3%. The pamphlet includes a list of lenders who are making the loans.
You can get either brochure by writing to “Fannie Mae,” Public Information Office, 3900 Wisconsin Ave. NW, Washington D.C., 20016.
Upon request, the association will also furnish callers with a free, computerized list of foreclosures it has available in their area.
Homeowners
If you’re one of the millions of homeowners who can’t figure out how recent changes to the nation’s tax codes affect you, take heart: The Internal Revenue Service offers free advice.
If you have a question about real estate write-offs, you can get an answer at no cost from an IRS representative by calling (800) 829-1040. You can use that same number to order a variety of free pamphlets that explain how the federal government treats housing deductions.
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 122 Lincoln Blvd., Suite 201, Venice, Calif. 90291.
A similar list can be obtained by sending a self-addressed, stamped envelope to People for the Ethical Treatment of Animals, P.0. 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.
The Western Insurance Information Institute, a nonprofit research group, offers several free leaflets that can help you cut your annual homeowners’ insurance bill or prevent you from being underinsured.
Among the institute’s best publications are “Home Insurance Basics,” “How to File an Insurance Claim” and “Taking Inventory.”
You can order any or all of these pamphlets by writing to the institute at 3530 Wilshire Blvd., suite 1610, Los Angeles 90010. Or, call (800) 331-9146.
Older homeowners should be particularly interested in the variety of free publications offered by the American Assn. of Retired Persons.
One of AARP’s best offerings is “Home-Made Money: A Consumer’s Guide to Home-Equity Conversion,” which provides information on various ways that homeowners can tap their equity to live better in their retirement years.
You can order the booklet by writing to AARP Fulfillment, P.0. Box 2400, Long Beach, Calif. 90801-2400. Delivery takes about three weeks.
The Toro Co., meantime, offers a free guide on how to make your home more secure by adding inexpensive, do-it-yourself outdoor lighting. Send a self-addressed, stamped envelope to Lighting Brochure, Toro News Center, 8500 Normandale Lake Blvd., Suite 1200, Minneapolis, Minn. 55437.
If you’re considering a remodeling project, you should get a copy of “What You Should Know Before You Hire a Contractor,” a 34-page guide published by the Contractor’s State License Board. Write to the board at P.O. Box 26000, Sacramento, Calif. 95826.
Need an appraiser? The National Assn. of Master Appraisers offers a free directory of more than 5,000 real estate appraisers doing business across the country.
To get your copy, write to Appraiser Directory, P.O. Box 12617, San Antonio, Tex. 78212-0617 or call (800) 229-6262.
Renters and Investors
Rental-property investors and tenants alike need to know the ins and outs of renting a home or apartment. That’s all explained in “California Tenants: Your Rights and Responsibilities,” a booklet you can obtain by sending an 8 1/2 by 11-inch self-addressed envelope with $1.20 postage on it to the California Department of Consumers Affairs, P.O. Box 310, Sacramento, Calif. 95802.
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.
Real estate investors might also want to get their free copy of Robert J. Bruss’ “Real Estate Newsletter,” which examines a variety of investment topics each month. Bruss writes the “Real Estate Q&A;” column that appears in The Times’ Real Estate Section and other newspapers.
You can get your copy by writing to Newspaper Books, 64 E. Concord St., Orlando, Fla. 32801.
Bruss also offers a free copy of his monthly “California Real Estate Law” newsletter, which recaps recent legal decisions in the state. You can get it by writing directly to Bruss at P.O. Box 328, Burlingame, Calif. 94011.
If you rent an apartment, you need to know the ins and outs of buying renters insurance. So, you should get a copy of “Tenants Insurance Basics,” a handy leaflet published by the Western Insurance Information Institute.
Call (800) 331-9146 for your free copy, or write the institute at 3530 Wilshire Blvd., Suite 1610, Los Angeles, Calif. 90010.
