A pril 26, 1995 • T he P oru and O bserver
P age A4
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Book Takes Mystery Out Ot Small Home Repairs
Loans For Fixer-Uppers
In case you haven't noticed, the
day ofthe handyman is over.
You are a rare homeowner if
y ou can find someone to come in and
fix a sticky door, a leaky faucet, a
worn screen door or the dozens of
other little annoyances constantly
cropping up.
More likely, the door continues
to be pounded open, the dripping
faucet stains the sink yellow and
drives to distraction anyone within
hearing distance, and household oc
cupants learn to live with and love
the my riad of diminutive visitors who
meander in through the hole in the
screen door.
Anyone who has ever needed a
small household repair, which surely
includes everyone, has experienced
the frustration of trying to find a
professional to do a small job and the
rage of having to pay traveling costs
and service charges in addition to
labor and parts.
Then there is the indignity of
spending time on the phone trying to
track down and beg a repair person to
deign to acknow ledge the small prob
lem. because most home improve
ment professionals are not interested
Potential home bus ers who can afford monthly mortgage pay ment for
that "fixer-upper,” but not the out-of-pocket expense for repairs, may get
the help they need from a new loan offered by Washington Mutual.
Ihe company is one of a handful of local institutions to offer a
rehabilitation mortgage program, which includes the cost of major remod
eling in the loan amount.
Washington Mutual also recently increased its program's loan-to-
value ratio to 97 percent, meaning potential borrow ers need only a 3 percent
down payment to finance the cost to both purchase and upgrade a home.
Similarly, a 97 percent loan-to-value is available to a home through
refinancing.
The low down pay ment requirement targets low-to-moderate income
people struggling to save for a dow n pay ment. To further reduce the initial
cost of purchasing a home, the "97 percent rehab” loan can be combined
with an option that eliminates practically all ofthe traditional closing costs.
"Many older homes in our communities have solid constructions, but
need work that ranges from the construction o f a new foundation or roof,
to the rebuilding of bathrooms and kitchens,” said Jill Jones. Washington
Mutual's affordable housing administrator. “With this new program bor
rowers can get into a home with a minimal down payment and not have to
come up with extra funds for repairs.”
The loan amount is based on the appraised value ofthe property (w ith
upgrades), or the sum of the home’s market value, the cost of construction
for repairs and a 10 percent contingency budget.
Bank Ot America Offers
Low Interest Loan
Bank of America is offering a
S200 bonus and a low 8.99 percent
introductory rate for customers who
open a new home equity line ofcred-
it. During the special offer the bank
will also waive all fees, including
c losing costs and appraisal fees (when
based on Tax Assessed Value) - a
potential savings of hundreds of dol
lars.
The special offer is available on
the bank's Equity Maximizer line of
credit. The introductorv rate will re-
e
' » t,
Beneficial
Nematodes
bx
You may have noticed a pest
control product on the garden store
shelves in recent years called “in
sect eating nematodes" or "benefi
cial nematodes.”
Nematodes are microscopic,
eel-like roundworms, according to
Jack DeAngelis, entomologist with
the Oregon State University Exten
sion Service. Most types of nema
todes attack plants, causing diseas
es.
But a small group of these tiny
worms attacks insect pests, not
plants. These are termed “benefi
cial nematodes." A native resident
of soils, they attack, feed on and
reproduce in the grubs or pupae of
garden pests such as the black vine
weevil, strawberry root weevil,
white grubs and Japanese beetle.
“They will not harm plants
other animals or people,” said
DeAngelis. "They are so safe, in
fact, that the EPA has exempted
them from its usual pesticide regis
tration process."
Naive populations o f these
nematodes are often too low to
effectively control pest infestations,
he said. But. in the last few years,
several coinpaniesdeveloped meth
ods for raising and packaging ben
eficial nematodes. Larger lawn and
garden stores and retail nursery
outlets often sell this new pest con
trol product.
Beneficial nematodes are add
ed to water, then applied according
to package in structions, said
DeAngelis. Be sure to read and
follow the directions on the label
Timing is utmost importance - ap
ply nematodes when the soil tem
perature is above 55 degrees F and
the soil is moist. Fall or spring are
the best times, he said.
The nematodes move through
the soil and enter a host insect larva
through natural body openings.
They enter the host's blood system
and release bacteria that multiply
rapidly. Within 24 to 48 hours, the
pest larvae are dead
Beneficial nem atodes will
not persist in the soil until the
next year “ But the good news
is that if you do a thorough jo b
o f control, you probably won t
have your weevil and beetle
pests back, at least for a few
years," he said.
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rest assured that the manual gets into
the more exotic home repair tasks
such as eliminating holes in mason
ry; plumbing problems, repairing or
replacing cracked or w arped outside
siding and shingles, and repairing
flashing and caulking roof joints.
Berko tells us that most home
repairs are simple and can be mastered
with no previous experience with tools
or home repair. The manual provides
easy-to-follow instructions, indicating
the proper tools and materials to have
on hand at the outset, making a visit to
the hardware store in the middle of a
project unnecessary.
This 88-large-page book, Small
Home Repairs Made Easy, is avail
able for $5.95-(plus $2 p&h) from
Consumer Center. 350 Scotland
Road, Orange, NJ 07050 or 1-800-
872-012! with credit card.
An added benefit to doing the
job yourself is that you will probably
do a better job than a workman who
is try ing to do the job in the least
possible time, said Berko. “It’s good
for people to do their own repairs.”
he said. “It saves money and it’s a
source o f satisfaction.”
This book has just been updated
Area Window Dealers Offer Services To Homeowners And Contractors
• Five local window dealers,
Columbia Door & B indow Compa
ny, Portland; Fdelen Custom Doors
& Windows, Portland; Kingsley
Lumber, Portland; and McCoy Stair
& Millwork Company, Portland
havejoinedllte 1995Andersen Win
dow Center(R) Program.
A ndersen W indow Centers
are resource centers that help
homeowners and building and re-
m o d e lin g c o n tr a c to r s b rin g
Andersen Light — a unique com
bination o f natural light and su
perior window and patio door
technology — to life. Trained
window specialists use product
inform ation, displays and litera
ture to provide expert advice and
ideas for rem odeling, displays
and literature to provide expert
advice and ideas for rem odeling,
new construction or replacem ent
p ro jects that include w indows
and patio dooi .
A ndersen W indow C enters
also help bring A ndersen Light
home with a special book offer.
The Andersen Home Plans books,
two books featuring over 80 home
:|Iu rifatti»
OOliscrncr
A
N
plans, are available at A ndersen
Window C enter location. Each
book is only $2.95, and offers
consum ers a wide choice o f home
plan styles and sizes. A special
book developed for building co n
tracto rs is also available. The
book contains 160 home plans
and offers con tracto rs com plete
floor plans and four elevations.
Join us in celebrating
“SThe ^Jnrtlanb (.©hserucr’s
Twenty-fifth Anniversary.
Advertise In
N
Call 503-288-0033
B a n k in g
L IS C E N S E D IN O R E G O N S IN C E 1975
Singles & Seniors, I can help you!
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a
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Portland, Oregon 97232
George A. Hendrix
MBA. GRI. Broker
to include new products and tools
and now includes simple instruction
on installing your own telephone and
extensions.
Berko is executive director of
Consumer Education Research Cen
ter, a national non-profit consumer
organization founded in 1969 and
devoted to educating consumers.
CERC gets all proceeds from the
Sale of this book.
As a director of the N.J. Home
Improvement Contractors Associa
tion and former head of one of the
state’s largest home improvement
contracting companies, Berko has
had many years experience in the
home improvement field.
He found that many times
homeowners, intimidated their mis
taken impression ofthe difficulty of a
project, would hire contractors and
still be unhappy by the quality of the
repairs.
Even if a homeowner does not
choose to do the home repair him
self, this book will demystify the
process, giving him the knowledge
of what needs to be done, how com
plicated it is and what it should cost,
said Berko.
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on
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OUTLET
whatever you want. Not only will you pay a much lower
interest rate, but that interest may be 100% tax deductible.
Your financial advisor can help you with that.
C O M E A N D SEE W H A T
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If you need details, or would like to
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Furniture • Bedding • Clothing
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Electronics • Lamps • Flateware
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And Much More!
QUALITY DEPARTMENT STORE ITEMS
NEW STORE HOURS
OPEN WED-FRI 10-6, SAT 10-5
should be, too.
m
Bank off America
Mike from Legal ha» some important reading for you To be eligible for this offer apply by 55/95 activate by 12/31 95 The special introductory discounted rate only good until October
31 1995 The APR which can vary monthly was 10 67% on 2/9/95 Your rate will never be more than 18% The APR on an optional fixed rate loan taken on 2/9/95 was 9 45% to
9 60% depending on the term and loan amount There is a finance charge of $50 for each fixed rate portion after the first loan Introductory line of credit and fixed »ate loans are based
i B i 4 heckmg Account If automatic payment is stopped the rate will increase b\ 1 2% A $65 annual fee is waived the first year No points no fees
otter based on TAV up to $100 000 if appraisal is required a tee will be assessed Adequate property insurance must be maintained ©1995 Bank of America Oregon Member FDIC
mm
LEN D fcR
f
gg&a
w
c,.
C arol S avonen
main fixed at 8.99 percent APY
through October 31. 1995. and will
then revert to the bank's standard
adjustable rate.
The bank is offering the special
rate and bonus to attract new custom
ers for loan programs. "Add it all up
— the $200 bonus, no points, no fees,
and the great starting rate and we feel
this is the best value around. We
think customers will appreciate it
because it reduces their up-front, out-
of-pocket expenses to nothing." said
BofA Chairm an W. C harles
Armstrong.
"In addition, interest on the Eq
uity Maximizer line of credit may be
100 percent tax d ed u ctib le."
Armstrong said.
in small jobs. The cost, coupled with
the agony of waiting for the return
call and the time off from work wait
ing for the service person to show up,
often late or not at all, make a minor
home repair a major headache.
Robert Berko may have the an
swer for you. Berko is the editor of
Small Home Repairs Made Easy, a
manual that lists step-to-step direc
tion on how to do around-the-house
repairs. A ccording to Berko,
such my steries as unstopping the toi
let, fixing the door bell and repairing
the garage door are within the capa
bility of even the most unskilled and
unschooled among us.
The paperback manual starts
your education even before you at
tack the problem with an illustrated
rundown of common tools you will
need and how to handle them. For
example, the novice will appreciate
the illustrations of five different types
of hammers, such basic revelations
as how to start a nai I and how to avoid
hammer marks on wood.
But lest the more experienced
among you scoff at a book that de
votes a page to hanging a picture,
shelves and other things on a wall,
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