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New Lead Paint Rule

Contractors, renovators and homeowners should be aware of the new federal Renovation, Repair and Painting Rule, which is aimed at limiting the risks of lead painting in old buildings.

This is particularly important for FHA loans as any sort of peeling and chipping paint must be repaired prior to closing.

Under this new rule, a certified renovator must now be present during the renovation of pre-1979 buildings. “The government is now cracking down and there are substantial fines for people who don’t follow the rules,” warned BBB’s Howard Schwartz. See the video below:

HVCC

The recently instituted HVCC continues to devastate home values across the US and those of us in the industry fear that, with higher Fannie and Freddie loan limits, it will soon carry through to the “jumbo” markets as well; leading the country even further into recession. Because of past actions by many in our country, Representatives Childers (D-MS) and Miller (R-CA) introduced legislation (H.R. 3044) requesting an 18 month moratorium on the Home Valuation Code of Conduct (HVCC). H.R. 3044 now has 22 co-sponsors and now is the time to forward a petition (sponsored by ThinkBigWorkSmall) to every person you know and every representative in the country. Be sure to read some of the comments in the petition and you will soon understand the harmful nature of this horribly misguided code. NOTE: The comments may take a while to load due to the sheer number of them.

ThinkBigWorkSmall applauds the introduction of H.R. 3044 and would like to thank Representative Childers (D-MS) and Representative Miller (R-CA) for their continued efforts and leadership on this issue but it is not enough. Tens of thousands of consumers have already been robbed of their opportunity to enjoy historically low rates by Attorney General Andrew Cuomo’s rule. HVCC needs to be permanently reversed in order to restore lower costs to the consumer and to protect the thousands of real estate transactions stalled by this horribly misguided code.

Please sign and forward the following petition and forward to everyone you know and ask them to forward to their representatives:

http://www.hvccpetition.com/ 

What is HVCC? Be sure to watch the video clip – it does a great job of explaining HVCC and its problems.