5/1 ARM Question


My 5/1 ARM is due to adjust in August. It’s currently at 5.35 and will adjust based on the WSJ Libor 1 year rate. The first adjustment is meant to be +2.25 with a max cap of 10.35 and min of 2.25.

The latest index rate is 0.86. Let’s say this rate stays around the same rate for the next 5 months or so. Can I expect my mortgage rate to go down significantly?

Sorry, math and mortgages aren’t my forte but if I am calculating this right, is it possible that my adjusted rate could be 3.2range? Or am I missing other calculations from this equation?

Thanks for any insight.

Categories: Mortgage
By greenwoody | 03/19/2010 9:45 AM | Comment

Fire on 19th Street last night?


My neighbor just told me about a fire on 19th street between 5th and 6th last night. I got home too late and missed all the activity but saw broken glass and smelled something weird. I saw a con ed van and assumed it was some gas leak but apparently it was bigger than that…

anyone know any details?

Categories: News/Commentary
By greenwoody | 01/14/2010 2:00 PM | Comment

HPD Violation Explanation


I received something in the mail the other day claiming I had an open HPD violation on my house since 1998, way before I lived there … it’s a class C violation and reads:

provide reseal of all accessible openings to building er1. 328416

I have no idea what this means and the HPD site isn’t particularly helpful. Anyone have an idea?

The letter also said something about having the violation waved by just signing and notarizing that it was taken care of … but i have no idea if it has since I have no idea what it means …

Any help would be appreciated!
Thanks

Categories: Building Code
By greenwoody | 09/10/2009 1:45 PM | Comment

Bathroom renovation questions


Hi

I know there are previous posts on this, but I was hoping for a more recent perspective and additional recommendations. I have a small bathroom 4×7 that needs a gut reno. I have most of my fixtures/materials picked out but need assistance with the following:
1. any good sources for modern, clean lined bathroom vanities that won’t break that bank? I’d love a glossy white one … online or showroom recommendations welcome …
2. How long should the process take from start to finish?
3. Can you recommend a contractor who can do a solid job (the wall tile I have picked out is a tad complicated, but the rest of the reno should be straightforward — oh I am replacing the tiny tub with a walk in shower…)
4. My budget is around 10k, doable?

Thanks in advance

Categories: Renovation
By greenwoody | 06/29/2009 10:47 AM | Comment

Hot water heat sloshing sounds


When the heat kicks on in my house you can hear the water sloshing around in the pipes. it’s pretty loud and sounds like you’re in an aquarium or something. what can be done to stop this? does it need more water in the system? less? something else entirely?

Categories: Heating
By greenwoody | 12/09/2008 11:54 AM | Comment

Change in water pressure


About 4-5 days ago I noticed a significant drop in water pressure in my house. It’s not down to a trickle or anything but showers aren’t quite as great as they used to be.

National Grid has been doing work outside my house … looked like they were installing new pipes to service a newly constructed building up the road.

They finished and paved the road the same day I noticed the water pressure drop. Is there any way the two could be related? If not, any ideas as to what might be causing it?

Thanks

Categories: Plumbing
By greenwoody | 11/24/2008 12:20 PM | Comment

Bathroom renovation questions


I’d like to swap where the toilet and sink are in my tiny bathroom … does this require extensive plumbing work? lots of moving of pipes, etc? What would you estimate something like this might cost?

Its a tiny bathroom and currently the two fixtures are about 1.5 feet away from each other.

Also, does this require a permit or other bureaucratic documentation?

Thanks in advance!

Categories: Renovation
By greenwoody | 10/31/2008 7:32 AM | Comment