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Alexandra Zega

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In Defense of Home Ownership

Thursday, September 02, 2010

by Alexandra Zega

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It's hard to read the headlines and not conclude that becoming a homeowner is a terrible idea.

Last week, the National Association of Realtors announced that existing-home sales in July had fallen an astounding 25.5 percent from the previous year. Sure, there was a federal tax credit in place last summer. But with single-family home sales at their lowest level since 1995 and unemployment still stubbornly high, home prices may fall further.

In the meantime, millions of homeowners are still far underwater, and government programs to help them have fallen well short of their goals. More foreclosures are coming, casting a deeper shadow over home prices. So it's hardly surprising that the conventional wisdom says that home values will never again rise faster than inflation.

But as with stocks and the weather, it is dangerous to assume any certainty in the housing market. And by wallowing too much in the misery of others, people looking for a new place to live run the risk of thinking every home purchase will end in regret, at least financially.

Many still could, if they buy in hard-hit areas where prices could fall further.

But a mortgage is still a form of long-term forced savings, after all. This is more important than ever, since fewer people have access to generous pensions than they did during the last big housing slump. A 401(k) or similar plan is no bargain, either, with its erratic returns and employer matches that come and go as the economic winds shift. Social Security is also likely to be less generous, and Medicare will probably cost more.

Besides, owning a home isn't just about what shows up on a net worth statement — something that bears repeating after all the "investing" that people thought they were doing when buying homes over the last 10 or 15 years. Many of these more qualitative factors, from living free of a landlord's whim to having access to a good school district or retirement community, haven't changed and probably never will.

It is possible, as a homeowner, to make very little money but still buy plenty of happiness. So before you swear off real estate, reconsider a few of the basics.

Worst Cases

Some buyers may rue the day in 2010 they bought their homes. They may end up like those who bought in 2006 and have lost their jobs. Now those people face the difficulty of moving to pursue employment elsewhere because they owe much more than their homes are worth.

Marke Hallowell and Allison Firmat, who are getting married next month, are well aware of the history. Yet they plan to put 5 percent or less down, using a fixed-rate mortgage backed by the Federal Housing Administration, once they find a condominium in southern Orange County, Calif. (They've already been outbid a few times.)

Ms. Firmat is not working, and Mr. Hallowell is a Web developer. Does he worry about mobility problems or making the payments in the event of a job loss, given that he's the sole breadwinner? "We're getting such a good deal on interest rates that we could rent our place out," he said.

Mr. Hallowell and Ms. Firmat say they believe their approach is conservative, at least compared to what they might have done five years ago.

"Nothing is going to change the rate we will have," Mr. Hallowell said. "Condos like the ones we're looking at now were unobtainable in the past, unless we went into something with a total balloon payment. There were times I was tempted, but never seriously."

Indeed, many people who are buying at the moment are locking in mortgage rates of about 4.5 percent. A year ago, they might have paid 5.25 percent on a $300,000 loan for a monthly payment of about $1,657. Today, you could lock in a lower monthly payment of around $1,520 on a mortgage that size, or you might not need to borrow that much, given that prices have fallen in many areas.

Forced Savings

You may make nothing at all beyond inflation over time on a home, but the part of your mortgage payment that goes toward principal is a form of forced savings.

Sure, you might do better by renting and investing the difference between the rent and the total costs of ownership. But at least three things need to go right.

First, you need to actually save the money. Americans have trouble with that sort of plan. Then, you need an after-tax return that's better than whatever a home would deliver. That's a task that might not have gone so well over the last 10 or 12 years, and it involves its own future risk, given how little safer investments are returning now. Finally, you must not raid the savings along the way.

Difficult Landlords

A bank can kick you out only if you don't pay your mortgage. But landlords can drive you away in any number of ways.

Laura Mapp and her husband, Carl Berg, rented from a relative, but it didn't go particularly well. They found another landlord they liked, but came back from a holiday trip one year to a note saying he wanted to move in himself. They had a month to scram. (The note came with a bottle of wine, at least.)

In yet another rental, they let their landlord know they were looking to buy and inquired about a month-to-month lease. No problem, their landlord said, as long as they used his boyfriend as their real estate agent.

Earlier this year, the couple gave up on landlords and bought a house in the Highland Park neighborhood in Seattle.

The Nice Part of Town

No matter how pretty the neighborhood, prices may still fall further in places like greater Detroit, Cleveland and Las Vegas; outlying areas of Los Angeles, San Francisco and Phoenix; and much of Florida.

But if you want to live in the Fox Hill Farm development in Glen Mills, Pa., you'll have to buy because renters are not allowed, said Bob Kuhn, who lives there. The same may be true of other communities for older people.

And there may not be many family-size rentals — or at least any financial edge to be gained by renting — in suburbs or urban neighborhoods with excellent public schools.

After many years of building their down-payment fund and a couple of years of watching the listings in the Eagle Rock and Mount Washington areas of Los Angeles, Garret and Alison Williams realized that prices simply were not falling much there.

By the time they were ready to pounce this year, they had a big enough down payment and interest rates had fallen so far that renting didn't make much financial sense, even if they could have found a rental big enough for them and their two small children.

"Had we rented, we would be paying more than we're paying for a mortgage," said Ms. Williams, who had lived in the same two-bedroom rental for 12 years before she and her family moved into their new house in Eagle Rock earlier this month. "I don't see how we could really regret having made the move when it's so much better for us on so many levels."

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Bottled Tea: Antioxidants Barely There

Wednesday, September 01, 2010

by Alexandra Zega

Most of us know that tea is brimming with antioxidants and health benefits--or is it? A recent study found that bottled tea contains very low levels of antioxidants when compared with brewed tea.

Bottled Tea: What’s Missing

It is no coincidence that tea is the second most widely consumed drink in the world, after water. In recent years numerous studies have touted antioxidant-rich tea as an effective aid in combating cancer, reducing heart disease, and preventing other illness risks. In response to these findings, tea sales in the United States have increased fourfold in the past two decades. With the increasing demand for tea, manufacturers began supplying bottled teas as a health-conscious alternative to soft drinks and sugary juices.

But how healthy is bottled tea? Research presented at a recent meeting of the American Chemical Society revealed that health-savvy consumers of bottled tea may not be getting their antioxidant bang for their buck. The healthy antioxidants--called polyphenols--that are responsible for tea’s ability to protect our cells from free radical damage are barely present in most bottled teas.

This recent study tested six brands of bottled tea purchased from the supermarket, using high-performance liquid chromatography (HPLC) to measure the polyphenolic content. Shiming Li, Ph.D., who reported on the research, was surprised by the low pholyphenol content and stated: “Someone would have to drink bottle after bottle of these teas in some cases to receive health benefits.”

Would You Like Tea with Your Sugar?

Bottle tea-makers know that taste matters. The healthy polyphenols in tea are what give tea its bitter and astringent taste. Since not everyone is a fan of these flavors, manufacturers respond in kind by using less tea and adding more sugar per bottle. Now you have added sugar and extra calories, and you have lost significant antioxidant content.

Keep in mind that while bottled tea often lists polyphenolic content on its labels, the amounts may be incorrect; there are currently no industry or government standards for listing the polyphenolic compounds of a given product.

The bottom line is that there is no bottled tea out there that is going to bring you more benefits than the fresh tea you brew at home.

If You Want Something Done Right, Brew It Yourself

Get all the antioxidant benefits at a fraction of the cost when you brew your own tea. In the study mentioned above, of the six bottled teas, the best-case scenario of antioxidant content was just over 80 milligrams of polyphenols per 16-ounce bottle; the worst was a mere 3 mg of polyphenols. Compare this to home-brewed tea (black or green), which can have 50 to 150 milligrams in just one cup.

To make your own tea in bulk, simply bring water to a boil, then pour into a separate bowl and steep 2 to 3 teaspoons of fresh tea or herbs per cup of water. To extract the most beneficial compounds, cover it and let it steep for three to five minutes. Then strain into glass pitcher and put in the refrigerator, where you can drink at your leisure or pour into a thermos for traveling. Prefer tea bags? Use one tea bag per cup of water.

Some tasty tea options that bring many benefits to the table include:

• Green tea: increases mental acuity and protects against heart disease; just add a twist of lemon to help absorb the antioxidants into your bloodstream

• Mint tea: settles the stomach and alleviates gas

• Ginger tea: soothes digestion and fires up your energy

• Chamomile tea: calms the nervous system and relaxes the muscles; drink an hour before bedtime.

• Herbal combinations: Consider trying the Tao Tea Collection, a set of healing bagged teas for internal cleansing, calming your emotions, and promoting balance.

Add a twist of lemon, a sprig of mint, rosemary, or a handful of fresh basil for an aromatic flavor burst. The possibilities for combination are endless! To add sweetness, use a little honey, stevia products or a stick of cinnamon.

Not sold? Think about this: While buying a bottled tea from the store could cost upwards of three dollars, a tea bag won’t set you back more than a quarter.

May you live long, live strong, and live happy!

This blog is meant to educate, but it should not be used as a substitute for personal medical advice. The reader should consult his or her physician or clinician for specific information concerning specific medical conditions. While all reasonable efforts have been made to ensure that all information presented is accurate, as research and development in the medical field is ongoing, it is possible that new findings may supersede some data presented.

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Tips for Getting Your Home Ready for Fall

Friday, August 27, 2010

by Alexandra Zega

Now that summer is beginning to wind down and cooler weather is on its way, it’s time to get some of the routine home maintenance out of the way before it gets too cold. If you don’t prepare your home in the fall season, and clean up the yard, when spring comes along, you could be left with an unsightly mess. Lisa Udy, a Realtor in Utah offers the following tips to prepare your home for the cold months ahead.

Clean out the rain gutters – If you have rain gutters on your home, fall is the best time to get them cleaned. Cleaning rain gutters isn’t that difficult of a task, it’s just a tedious one. The easiest way to get rid of the junk is to use a high pressure hose, and then use a small trowel to get rid of the rest of the debris. Once you have gotten rid of all the debris, give your gutters a final spray.

Take care of your pots and planters – If you’re like most homeowners, you have some planters or potted plants sitting around the yard. Before it gets too cold, be sure to empty the dirt out of any pots or planters and put them in a place where they won’t freeze. If you don’t empty or store your planters, there’s a good chance they will either crack or fall apart.

Rake the leaves – Keeping your yard free of leaves is an important task for homeowners. If you have numerous trees in your yard and piles of leaves that you don’t take care of, you might find that your grass is dead once spring arrives. Leaves can smother your lawn and replacing a lawn can cost a lot of money, so it’s a good rule of thumb to get rid of the leaves in the fall.

Weed and feed the lawn – The best time to weed and feed the lawn is in the fall. If you add weed killer in the fall, the weeds will store the poison in their roots during the winter season, and will prevent a breakout in the spring. By feeding your lawn with fertilizer in the fall, you are promoting healthy root growth, and this will help your lawn grow greener and faster in the spring.

Give your tools a tune-up – Once you have finished your fall maintenance chores, make sure you clean your tools and store them in a dry place so they will be in working order once spring arrives. Be sure to store metal shovels with the head upwards, as this will help detour rusting when it dries. Sheers need to be oiled up, wheel barrels should be left upside down and don’t forget to spray off the underside of the lawnmower.

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13 Things An Identity Thief Won't Tell You

Wednesday, August 18, 2010

by Alexandra Zega

Interviews by Michelle Crouch - Reader's Digest Magazine

Former identity thieves confess the tactics they use to scam you.

1. Watch your back. In line at the grocery store, I’ll hold my phone like I’m looking at the screen and snap your card as you’re using it. Next thing you know, I’m ordering things online—on your dime.

2. That red flag tells the mail carrier—and me—that you have outgoing mail. And that can mean credit card numbers and checks I can reproduce.

3. Check your bank and credit card balances at least once a week. I can do a lot of damage in the 30 days between statements.

4. In Europe, credit cards have an embedded chip and require a PIN, which makes them a lot harder to hack. Here, I can duplicate the magnetic stripe technology with a $50 machine.

5. If a bill doesn’t show up when it’s supposed to, don’t breathe a sigh of relief. Start to wonder if your mail has been stolen.

6. That’s me driving through your neighborhood at 3 a.m. on trash day. I fill my trunk with bags of garbage from different houses, then sort later.

7. You throw away the darnedest things—preapproved credit card applications, old bills, expired credit cards, checking account deposit slips, and crumpled-up job or loan applications with all your personal information.

8. If you see something that looks like it doesn’t belong on the ATM or sticks out from the card slot, walk away. That’s the skimmer I attached to capture your card information and PIN.

9. Why don’t more of you call 888-5-OPTOUT to stop banks from sending you preapproved credit offers? You’re making it way too easy for me.

10. I use your credit cards all the time, and I never get asked for ID. A helpful hint: I’d never use a credit card with a picture on it.

11. I can call the electric company, pose as you, and say, “Hey, I thought I paid this bill. I can’t remember—did I use my Visa or MasterCard? Can you read me back that number?” I have to be in character, but it’s unbelievable what they’ll tell me.

12. Thanks for using your debit card instead of your credit card. Hackers are constantly breaking into retail databases, and debit cards give me direct access to your banking account.

13. Love that new credit card that showed up in your mailbox. If I can’t talk someone at your bank into activating it (and I usually can), I write down the number and put it back. After you’ve activated the card, I start using it.

13 More Things An Identity Thief Won't Tell You

1. My least-favorite credit card? American Express, because it likes to ask me for your zip code.

2. Your unlocked mailbox is a gold mine. I can steal your account numbers, use the convenience checks that come with your credit card statement, and send in pre-approved credit offers to get a card in your name. Stealing mail is easy. Sometimes, I act like I’m delivering flyers. Other times, I just stand there and riffle through it. If I don’t look suspicious, your neighbors just think I’m a friend picking up your mail.

3. Even with all the new technology, most of us still steal your information the old-fashioned way: by swiping your wallet or purse, going through your mail, or Dumpster diving.

4. I dig through Dumpsters in broad daylight. If anyone asks (and no one does), I just say my girlfriend lost her ring, or that I may have thrown my keys away by mistake.

5. One time I was on the run and needed a new identity so I went through a hospital Dumpster and found a statement with a Puerto Rican Social Security number for a Manuel Rivera. For a good two years after that, I was Manuel Rivera. I had his name on my apartment, on my paychecks and, of course, on my credit cards.

6. Is your Social Security number on your driver’s license or your checks, or is it your account number for your health insurance? Dumb move.

7. When I send out e-mails “phishing” for personal information by posing as a bank or online merchant, I often target AOL customers. They just seem less computer literate—and more likely (I hope) to fall for my schemes.

8. I never use my home computer to buy something with a credit card that’s not mine. That’s why you can often find me at the public library.

9. If you use the same ATM every time, you’re a lot more likely to notice if something changes on the machine, like the skimmer I installed.

10. Sometimes I pose as a salesman and go into a small office. After I make my pitch, I ask the secretary to make me a copy. Since most women leave their purses on the floor by their chairs, as soon as they leave the room, I grab their wallet. I also check the top and bottom right-hand drawers of their desks, where I often find company checks.

11. How much is your information worth? I can buy stolen account information—your name, address, credit card number, and more—for $10 to $50 per account from hackers who advertise on more than a dozen black market web sites.

12. Hey, thanks for writing your PIN number on that little slip of paper in your wallet. I feel like I just won the lottery.

13. Sure, it may be nice not to have to put in your password when you use an unsecured Wi-Fi connection. But know this: We have software that can scoop up all the data your computer transmits, including your passwords and other sensitive information.

Sources: Former identity thieves in Kentucky, Florida, Indiana, Virginia, and New York

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FHA Launches Short Refi Opportunity for Underwater Homeowners

Monday, August 09, 2010

by Alexandra Zega

RISMEDIA, August 9, 2010--In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development provided details on the adjustment to its refinance program which was announced earlier this year that will enable lenders to provide additional refinancing options to homeowners who owe more than their home is worth. Starting September 7, 2010, the Federal Housing Administration (FHA) will offer certain ‘underwater’ non-FHA borrowers who are current on their existing mortgage and whose lenders agree to write off at least ten percent of the unpaid principal balance of the first mortgage, the opportunity to qualify for a new FHA-insured mortgage.

The FHA Short Refinance option is targeted to help people who owe more on their mortgage than their home is worth – or ‘underwater’ – because their local markets saw large declines in home values. Originally announced in March, these changes and other programs that have been put in place will help the Administration meet its goal of stabilizing housing markets by offering a second chance to up to 3 to 4 million struggling homeowners through the end of 2012.

“We’re throwing a life line out to those families who are current on their mortgage and are experiencing financial hardships because property values in their community have declined,” said FHA Commissioner David H. Stevens. “This is another tool to help overcome the negative equity problem facing many responsible homeowners who are looking to refinance into a safer, more secure mortgage product.”

FHA published a mortgagee letter to provide guidance to lenders on how to implement this new enhancement. Participation in FHA’s refinance program is voluntary and requires the consent of all lien holders. To be eligible for a new loan, the homeowner must owe more on their mortgage than their home is worth and be current on their existing mortgage. The homeowner must qualify for the new loan under standard FHA underwriting requirements and have a credit score equal to or greater than 500. The property must be the homeowner’s primary residence. And the borrower’s existing first lien holder must agree to write off at least 10% of their unpaid principal balance, bringing that borrower’s combined loan-to-value ratio to no greater than 115%.

In addition, the existing loan to be refinanced must not be an FHA-insured loan, and the refinanced FHA-insured first mortgage must have a loan-to-value ratio of no more than 97.75 percent. Interested homeowners should contact their lenders to determine if they are eligible and whether the lender agrees the write down a portion of the unpaid principal.

To facilitate the refinancing of new FHA-insured loans under this program, the U.S. Department of Treasury will provide incentives to existing second lien holders who agree to full or partial extinguishment of the liens. To be eligible, servicers must execute a Servicer Participation Agreement (SPA) with Fannie Mae, in its capacity as financial agent for the United States, on or before October 3, 2010.

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8 Steps to Prevent ID Theft

Thursday, August 05, 2010

by Alexandra Zega

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ID theft is real but overhyped by companies selling pricey services. These eight steps can secure your identity for less.

After trending downward for four years, identity theft is on the rise again. Last year more than 11 million consumers were hit by the crime. That's a record, according to Javelin Strategy and Research, a California company that has surveyed 5,000 adults on the subject every year since 2003. The jump is partly a result of the recession, Javelin says, when fraud tends to spike.

But you don't need to sign up for expensive services offered by credit-reporting bureaus and other companies to keep your identity safe. Most of their products are unnecessary or ineffective, or they duplicate things you can do yourself -- free. Our own assessment of some two dozen identity-theft protection products crowding the market found dubious value. Here's how to protect yourself.

1. Get Serious, Not Scared

Don't let the horror stories freak you out. The worst-case scenario -- where someone opens new credit-card accounts or commits other crimes using your name, Social Security number, or other information -- is relatively uncommon. That nightmare happened to less than 1 percent of all U.S. households in 2005, according to the latest data from the U.S. Department of Justice. Half of that group resolved the problem, usually in less than a day to two weeks.

The most common form of ID theft isn't even what most people think of as ID theft. It's old-fashioned credit-card fraud and check-kiting, with someone fraudulently accessing your credit- or debit-card account. It affects about 4 percent of households. What's more, in most cases, your liability is legally limited, and credit-card issuers or banks pay the direct losses, not you. Most victims suffered no out-of-pocket costs last year; those who did lost only $373 on average, half the amount lost in 2007, Javelin says. That's well below the $1 million to $2 million guarantees that many identity-theft protection services trumpet to suggest that your losses could be catastrophic.

You can protect yourself by taking these low-tech, common-sense precautions:

• Never give your Social Security number or other information to strangers who call, text, or send e-mail messages to you, even if they seem legitimate, as with phony "phishing" e-mail that looks like it comes from your bank. And don't write your Social Security number on checks (except those you send to the IRS), noncredit applications, or other forms.

• Never leave your wallet or purse unattended. Don't carry your Social Security card, rarely used credit cards, or written PINs or passwords.

• Store financial account statements, medical records, and tax filings in a secure place at home, especially if you let workers or others inside, and shred those documents when you no longer need them.

• Don't post your date of birth, mother's maiden name, first pet's name, or other personal information on websites like Facebook, Flickr, Friendster, LinkedIn, MySpace, or Twitter. They're often used to verify your identity and could allow an imposter electronic access to your accounts.

• If your bank or credit-card issuer offers free online or mobile alerts that will warn you of suspicious account activity as soon as it's detected, sign up for them. The alerts are different from the expensive credit-monitoring services that banks also sell. (You don't need those.)

2. Place Security Freezes and Fraud Alerts

You can shut out ID thieves before they cause damage by placing a security freeze on your credit reports at all three major credit bureaus: Equifax (NYSE: EFX - News); Experian; and Transunion. It will prevent anyone from looking at your credit report except for the companies that already have a financial relationship with you, certain government agencies, and other exempt entities. To sign up for one, go to each bureau's home page and look for the security-freeze link.

If a lender can't pull your credit report, it isn't likely to grant new credit to someone else in your name. So a security freeze is an excellent deterrent against fraud. But like all deterrents, it isn't fail-safe. "Some creditors, such as payday lenders, will give credit without getting a credit report," says Rebecca Kuehn, assistant director of the Federal Trade Commission's division of privacy and identity protection.

If you haven't placed a security freeze and you spot a sign of identity theft, put an initial fraud alert on your credit report immediately. That's fast, free, and stays in place for 90 days. It also gives you additional legal protection. After that, request a security freeze.

Prospective lenders are supposed to see a fraud alert on your credit file and call you to find out whether the application is legitimate. Filing a fraud alert is appropriate anytime your identity information is compromised, such as when your wallet, cell phone, or computer is lost or stolen, or if your home or car is broken into. But you should also do it after more-subtle warning signs, such as finding unauthorized charges on your credit-card statement (even if quickly resolved) or failing to receive expected bills or mail.

Fraud alerts are free; security freezes typically cost $5 to $10 per person per credit bureau each time you place or temporarily lift one. Prices range from free to $20 depending on state law. But if you're a victim of ID fraud, freezes are usually free. You can initiate a freeze online directly with each credit bureau; for fraud alerts, you only need to inform one bureau, which will pass the request on to the other two.

3. Secure Your Devices

If you access the Internet on your computer, you probably already know about the need for a firewall; regularly updated anti-virus, anti-spyware, and anti-phishing software; and strong passwords with upper- and lower-case letters, numerals, and symbols like #, &, and $. But you might not think about other wide-open doors to your identity. Make sure your smart phone, iPad, other mobile devices, and portable flash drives containing personal data have security applications and encryption in case they're lost or stolen.

4. Keep an ID-Theft File

Because identity theft is now a fact of life, it's a good idea to set up a folder for certain documents and data and keep it in a secure place. Include credit reports, security-freeze documents and passwords, copies of annual privacy notices, security-breach notices, and potential ID-theft evidence, such as mail to your address in someone else's name. This is also the place to keep photocopies of the contents of your wallet -- the front and back of your driver's license, credit cards, club membership cards, etc. -- in case it's lost or stolen.

5. Review All Your Personal Data Files

Check your credit report periodically for items that you don't recognize -- such as accounts, judgments, liens, collections, bankruptcies, and other possible footprints of identity theft -- and dispute all erroneous and fraudulent information. Under the federal Fair Credit Reporting Act, you're entitled to one free copy of your credit report every year from each of the big three credit bureaus. Stagger your requests so that you'll get your file from one of them every four months.

You should order your free reports at www.annualcreditreport.com. You're also entitled to an additional free report from each bureau whenever you place an initial fraud alert on your credit report.

Other data brokers keep files on you. Irregularities could mean someone is using your ID to work, tap your health benefits, rent homes, or write bad checks. You have a right to free copies each year and to dispute errors in them.

6. Stop Unsolicited Credit-Card Offers

One way crooks steal your name is by swiping preapproved credit offers from your mailbox to open an account. They can then watch your mailbox to lift the new card you didn't know was coming. You can stop credit bureaus from selling your name to lenders by going to www.optoutprescreen.com or calling 888-567-8688. Opting out should stop most offers, and it's free.

Other credit offers might come from affiliates of financial services companies that already have a business relationship with you. You can stop them by paying attention to the annual privacy rights notices you get from banks, brokers, and other financial companies and exercising your right under federal law to prevent them from "sharing" (translation: "selling") your information with affiliates and others. Do the same with retailers and websites.

7. Monitor Accounts Often

It's no longer enough to wait for your monthly credit-card or checking account statement to look for suspicious activity. For added protection, sign up for online access to your accounts and check them regularly, even daily. "Almost a third of victims told us they became aware of an identity theft when they noticed missing money from an account," says Katrina Baum, acting division director and senior statistician at the National Institute of Justice. "What this tells me is that it really behooves consumers to be vigilant about checking their financial statements and paying attention to their account activity."

And don't assume that the paper checks listed are legit. Crooks can tap into your funds using fabricated checks with a fictitious name, address, and bank -- as long as they use your real account number.

Monitor your telephone bills (landline and cellular) to find any unauthorized "cramming" charges for phony services and purchases. As cell phones increasingly become mobile payment devices, fraudulent charges are showing up there, too.

8. Respond Rapidly

If you suspect you've been a victim of identity theft, act quickly. Immediately contact your creditors and financial institutions to report unauthorized charges or debits, and close any compromised accounts. Place fraud alerts and security freezes, and get your credit reports from all three credit bureaus so you can review them for irregularities. File a report with your local police and the FTC, and step up your own account monitoring. Chances are good that these actions will resolve the problem in relatively short order and at little or no cost.

Don't let the incident scare you into signing up for identity-theft protection or credit-monitoring services -- unless they're free, which is often the case for a limited time after corporate or government data breaches. Make sure a breach notice is not an identity-theft trick itself, and remember to cancel the subscription when the free period runs out

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Top Five Tips for Summer Entertaining

Monday, July 19, 2010

by Alexandra Zega

RISMEDIA, Summer is finally in full swing and so is the season for entertaining. This summer, try trading in your burgers and hot dogs for a little more glam, while remaining under budget.

Check out these tips from celebrity style and entertaining expert Robert Verdi, in partnership with Ecco Domini, to create tips for throwing the perfect fashionable fete.

1. Bottle Up the Excitement: Grab guests' attention, and evoke beachtime nostalgia, with a unique message in a bottle invitation. Use a clear glass bottle and fill it with a little bit of sand. Then roll up your invite and insert it with a string attached for easy access. For a truly personal touch, hand-deliver it to each guest!

2. Go Tribal: Tribal inspirations are making a mark on this season's attire. It's easy to bring this trend to life at home by introducing native elements into your décor such as hand-carved wooden candlesticks or animal print rugs. Make the most of your budget by picking up some tribal printed material at your local fabric store and draping it over your table. This versatile piece not only adds instant summer style to your room but can later serve as a stylish sarong making you a fashion hit at the beach.

3. Stay Cool: Creating your own style statement often means putting a new twist on traditional wardrobe items. You can apply the same concept to entertaining by using your favorite vase or pitcher (glass or ceramic are perfect) as a non-traditional wine cooler. Simply fill the container of your choice with ice and place the wine bottle inside.

4. Dine Under the Stars: Make the most of your outdoor space this season by transforming your rooftop or backyard into an outdoor cafe. A mix of citronella candles and colorful tea lights will keep the pests away and help set the mood for an intimate evening affair. For an added fashionable touch, try draping a vibrant pashmina over each chair- this adds a burst of color to your space and gives guests a way to keep warm if the night gets chilly. Finally, set all of your foods on large trays ahead of time for an easy and quick way to serve guests without making multiple trips to the kitchen.

5. International Tastes: True fashionistas take their style cues from the fashion capitals of the world. Why not do the same when it comes to your party menu? Trade in the typical barbecue burgers and hotdogs for gourmet treats with international flair. For example, create a buffet of easy-to-eat Italian treats such as caprese salad skewers with mozzarella and summer ripe tomatoes, prosciutto-wrapped melon balls or olive tapenade crostinis.

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10 Value-Adding Home Improvement Projects

Wednesday, July 14, 2010

by Alexandra Zega

Now that summer has arrived, homeowners across the country are taking advantage of the warm weather by tackling home improvement projects they have been putting off. If you are looking for ways to add value to your home, the following home improvements may be just what you’re looking for.

Tip 1: Remodel your kitchen
Kitchen updates are one of the best ways to increase the value of your home. Adding modern appliances and refacing your cabinets to give it a more modern look is well worth the investment.

Tip 2: Add a Garage
Homes with at least a two car garage are more attractive to potential home buyers. Having a home with a small garage is almost as bad as having no garage, so consider upgrading before putting your home on the market.

Tip 3: Remodel your bathroom
Bathrooms are very important to home buyers. Just as with the kitchen, home buyers look for modern conveniences. Adding a Jacuzzi bathtub, painting the walls and adding appropriate flooring will go a long way toward increasing your home’s value.

Tip 4: Install the right flooring material
Natural materials such as wood and ceramic are popular among home buyers today. Laminate flooring is a good option, as well, as it creates a natural look without the headaches associated with natural flooring materials.

Tip 5: Install granite counter tops
Granite counter tops are popular in both kitchens and bathrooms. These countertops are low maintenance and quite attractive and can add significant value to your remodel.

Tip 6: Increase curb appeal
Your home needs to grab a potential home buyer’s attention and look great as soon as he or she pulls in the driveway. Add flowers to the outside of your home and make sure it looks bright and cheery.

Tip 7: Add natural light
Home buyers like homes that are bright and cheery on the inside as well as the outside. Look for places to add windows or patio doors that will allow more natural light to come in.

Tip 8: Open up the space
Homes with an open floor plan are more valuable to home buyers than those that feel closed up. Knock out walls wherever possible and open your home up. A great place take out a wall is between your kitchen and your dining room.

Tip 9: Apply a fresh coat of paint
A fresh coat of paint makes a home look new again. When repainting walls, choose neutral colors that don’t stand out too much. Bold colors may be attractive to you, but they may be a turnoff to potential buyers.

Tip 10: Clean up clutter
A cluttered home appears small and dirty. Make certain all clutter is cleaned up on the inside and the outside of the home. Rearrange furniture or remove furniture in order to make the home feel less cramped.

(c) RISMEDIA, Paige Tepping

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Kitchen Remodels on the Comeback Trail

Monday, July 12, 2010

by Alexandra Zega

The explosion of remodeling shows on TV and makeover spreads in magazines has whetted America's appetite for glamorous rooms brimming with the latest furnishings, appliances and color schemes.

Kitchen remodels are among the most popular, according to a report in the just-published August issue of Consumer Reports and online at consumerreports.org. And the economic slowdown means there are outstanding deals on everything from cooktops to countertops. It also means kitchen designers and building contractors are eager for work and willing to negotiate.

But bargain prices and good looks aren't everything, said Celia Kupersmzid Lehrman, Consumer Reports' deputy home editor.

"When remodeling a kitchen, functionality is every bit as important as style. Fortunately there are many products that look good and work well," she said.

The design of your kitchen is every bit as important as what goes into it, said Jim Spence of Spence & Vaughn Fine Kitchen and Bath in Maitland, Fla.

The most functional design is based on the "work triangle" — the relationship between the prep area, the cooking area and the sink, he said. Ideally, the distance between them should never be less than four feet or more than nine feet. Of the three areas, the most-used is the sink.

When planning a remodel, determining your budget is one of the first steps. The National Kitchen & Bath Association calculates the average kitchen remodel costs between 10 percent and 20 percent of the home's value. But obviously, the extent of the makeover determines its cost. In its latest issue, Consumer Reports takes top-performing products and creates three design schemes: a do-it-yourself makeover for $5,000; a plan that costs $15,000 (the average spent on a kitchen remodel); and a full-scale renovation for $50,000.

Determining your priorities is another key step, said Phil Johnson, a partner at Spence & Vaughn and a certified kitchen designer.

"Do you love to cook? If so, now might be the time to consider professional-style appliances," he said. "Do you have a large family? Consider how best to accommodate them in your new space. Think about the things you love in your old kitchen — and the things you dislike."

In addition, Johnson recommends the following steps for a successful remodel:

—Do your homework. Watch TV remodeling programs, clip appealing pictures and articles from magazines, attend remodeling seminars, visit home shows and parades of homes. Consult with a kitchen designer who is a member of the NKBA, who has the training and experience to avoid many of the things that can go wrong with a remodeling project.

—Visit a showroom. Examine the options in cabinets, countertops, appliances, flooring, plumbing and lighting. Decide what you want — and can afford.

—Schedule a home visit. The designer/installer need to measure the kitchen and adjacent rooms, and make a note of existing walls, doors and windows, electrical supplies, ceiling height, attic access, type of wall construction, plumbing details, etc.

—Finalize the project. The design is refined, construction plans are completed, appliances and supplies are ordered — and the initial deposit is paid.

—Survive the dust, noise and workers. With proper supervision, the disruption can be kept to a minimum. Make sure materials are ordered and on the way before beginning the tear-out. Clear a space in the garage for workers' tools and supplies and items removed from the old kitchen. And communicate regularly with the designer/installer.

The August issue of Consumer Reports identifies these four rules for a successful kitchen remodel:

Don't rush. There are many kitchen products that combine value, performance and good looks. Take time to meet with professionals, browse the Internet and visit showrooms and home centers. Haste can be costly. Changing your mind after the project is started typically adds about $1,500 to the cost of a kitchen project.

Size matters. In addition to being expensive, oversized kitchens can be exhausting to work in and keep tidy. A more compact kitchen often functions better. The National Kitchen & Bath Association website, nkba.org, provides guidelines for optimal space between appliances, cabinets and islands.

Beware of budget busters. Leave a 10 percent to 15 percent cushion for surprises, such as unexpected structural repairs. Avoid settling for a cheap option, thinking someday you will replace it with something you really want. Chances are that will never happen.

Get it in writing. When using a professional for a remodel, the written contract should list each phase of the project; every product, including the model number; and copies of each contractor's license, and workers compensation and liability insurance to confirm they are current. Call references and, if possible, visit them.

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Take the Bite Out of Summer

Monday, June 21, 2010

by Alexandra Zega

Summer means the arrival of certain illnesses and infections caused by bacteria, viruses and bugs that thrive in the warm, moist environment. Although the risk of catching these diseases is low, there are some precautions to take to stay healthy.

For more information on all the diseases, visit the U.S. Centers for Disease Control and Prevention at www.cdc.gov.

MOSQUITOES

West Nile virus:

What it is — A viral infection that first showed up in the U.S. 10 years ago and infected thousands each summer but has dropped off dramatically in recent years.

How it spreads — When a mosquito feeds on a bird infected with West Nile, the mosquito can carry the virus and infect a person through a bite. It is not transmitted from person to person.

Symptoms — Most people who are infected never develop symptoms. About 20 percent will develop headache, fever, body aches or rash. In very rare cases, the virus can lead to encephalitis (inflammation in the brain). Last year, 32 people in the United States died of West Nile virus.

Treatment — Doctors can treat the symptoms, but there is no cure; most patients recover on their own.

Prevention — Spray insect repellent with DEET on exposed skin. Avoid being outdoors at dusk, when mosquitoes are most active. Remove all standing water from flower pots and bird baths.

Incidence — 720 confirmed cases in the U.S. last year.

Dengue fever:

What it is — A viral infection.

How it spreads — Dengue is transmitted by infected mosquitoes, not person to person. Dengue is the most common cause of fever in U.S. travelers to the Caribbean, central and South America and Asia. Upon their return to the U.S., sickened travelers can infect domestic mosquitoes, who then spread it to other people.

Symptoms — Dengue typically causes mild illness or none at all. Symptoms can include fever, headache, severe joint pain, eye pain, rash and vomiting. Rarely, severe cases can lead to dengue hemorrhagic fever, which can be fatal.

Treatment — There is no specific drug to treat dengue illness, but the symptoms usually can be treated.

Prevention — As with West Nile, the best prevention is avoiding mosquito bites. Researchers at St. Louis University are conducting a human clinical trial of an experimental dengue vaccine. E-mail vaccine@slu.edu or call 314-977-6333

Incidence — The most common mosquito-borne virus, dengue infects more than 100 million people worldwide each year, mainly in tropical regions. There were no reports of cases acquired in the U.S. before 1980. Since then, a few cases have been reported along the Texas-Mexico border. Last month, the CDC confirmed 28 cases of dengue in Key West, Fla. Other recent outbreaks have been linked to American relief workers returning from Haiti.

TICKS

Lyme disease:

What it is — A bacterial infection.

How it spreads — The disease is transmitted to humans by infected blacklegged ticks who in turn were infected by small rodents. It is not spread from human to human.

Symptoms — Fever, headache, fatigue, chills, swollen lymph nodes and a bulls-eye shaped rash in about 75 percent of cases. If untreated, the infection can produce symptoms ranging from facial paralysis, neck stiffness, dizziness and arthritis. Up to 5 percent of people who are untreated will develop neurological symptoms including pain, numbness and tingling in the extremities, and problems with memory and concentration.

Treatment — If the infection is caught early, a three-week course of antibiotics can usually stop its spread to joints and the nervous system.

Prevention — Tuck shirts into pants and pants into socks. Use insect repellent with DEET on exposed skin and permethrin on clothes (available at stores that sell outdoor equipment). Perform tick checks of the whole body, and remove any ticks with sharp tweezers. It is rare to contract Lyme disease if the tick has been on your body for fewer than 24 hours.

Incidence — Most reported Lyme disease cases come from Ne w England and upper Midwestern states. All states reported 28,921 confirmed and 6,277 probable cases of Lyme disease to the CDC in 2008, a 5 percent increase over 2007.

BATS, RACCOONS and SKUNKS

Rabies:

What it is — A viral disease that infects mammals.

How it spreads — Rabies is transmitted through the bites of wild, rabid animals.

Incidence — The majority of rabies cases reported to the CDC occur in wildlife, although most wild animals are not rabid. Last year in St. Louis County, Mo., 590 bats were tested; 23 had rabies. Domestic pets account for 7 percent of animal rabies cases. Human cases are extremely rare, with one or two a year nationwide. The death of a Texas County man in 2008 was the first in Missouri since 1959.

Symptoms — The virus infects the central nervous system and is fatal if not treated early. Early symptoms include fever, headache and weakness. Anxiety, confusion, paralysis and hallucinations can develop.

Treatment — If you are bitten by a wild animal, wash the area with soap and water and seek treatment immediately. Prophylactic shots can prevent rabies infection.

Prevention — Make sure your pets' rabies vaccinations are up to date. If you find a live or dead bat in your home, do not attempt to capture it. Call your county's health department, which will come collect the bat so it can be tested for disease.

BACTERIA

Bacterial meningitis:

What it is — An infection of the blood around the spinal cord and brain. Viral meningitis is generally less severe and tends to resolve on its own.

How it spreads — Bacterial meningitis is contagious in close contact among people through the exchange of saliva or respiratory secretions, although it is not as easily transmitted as the cold or flu and is not spread through the air.

Who it affects — Teenagers at sleep-away camp and college students living in dorms are at increased risk for meningococcal disease.

Symptoms — Common symptoms include fever, headache and stiff neck that may be accompanied by nausea, vomiting, sensitivity to light or an altered mental state. Rare but serious cases can result in the loss of limbs, deafness, seizures or brain damage.

Treatment — Early diagnosis is important to prevent severe illness and the spread of the disease. Meningococcal infections can be treated with antibiotics such as penicillin.

Prevention — A vaccine for bacterial meningitis protects about 90 percent of people who get it. The CDC recommends the vaccine for everyone ages 11 to 18.

Incidence — 1,000 to 2,600 Americans get meningococcal disease every year. About one in 10 cases is fatal.

E. Coli:

What it is — A group of bacterial strains found in the intestines that are mostly harmless. Some strains can cause diarrhea and intestinal illnesses.

How it spreads — E. coli is spread through contact with water or food contaminated with animal feces. Raw milk, undercooked meat, swimming pools and bodies of water can all contain the bacteria. Water test results in the Lake of the Ozarks this month, for example turned up positive for high levels of E. coli.

Symptoms — Stomach cramps, diarrhea and vomiting.

Treatment — The symptoms can be treated with hydration. Antibiotics are generally not recommended. Most infections resolve within a week. Rarely, severe infections can lead to kidney damage and death.

Prevention — Wash hands with soap and water after using the bathroom or changing diapers. Avoid swallowing pool or lake water. Cook meat and wash fruits and vegetables thoroughly.

Incidence — There are an estimated 70,000 E. coli infections each year in the U.S. Many people who are infected don't seek medical care or aren't tested for E. coli.