Home Equity Loan Info

Shopping around for a home loan will help you to get the best financing deal. A home equity loan?is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining an equity loan. Shopping, comparing, and negotiating may save you thousands of dollars.

Home loans are available from several types of lenders?thrift institutions. commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker. Brokers arrange transactions rather than lending money directly- in other words, they find a lender for you. A broker’s access to several lenders can mean a wider selection of loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks or thrift institutions.

Whether you are dealing with a lender or a broker may not always be clear. Some financial institutions operate as both lenders and brokers. And most brokers’ advertisements do not use the word “broker.” Therefore, be sure to ask whether a broker is involved. This information is important because brokers are usually paid a fee for their services that may be separate from and in addition to the lender’s origination or other fees. A broker’s compensation may be in the form of “points” paid at closing or as an add-on to your interest rate or both. You should ask each broker you work with how he or she will be compensated so that you can compare the different fees. Be prepared to negotiate with the brokers as well as the lenders.

Obtain All Important Cost Information

Be sure to get information about equity loans from several lenders or brokers. Know how much of a payment you can afford, and find out all the costs involved in the loan. Knowing just the amount of the monthly payment or the interest rate is not enough. Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following information is important to get from each lender and broker:

Rates

Ask each lender and broker for a list of its current interest rates and whether the rates being quoted are the lowest for that day or week.

Ask whether the rate is fixed or adjustable. Keep in mind that when interest rates for adjustable-rate loans go up, generally so does the monthly payment.

If the rate quoted is for an adjustable-rate loan, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down.

Ask about the loan’s annual percentage rate (APR). The APR takes into account not only the interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate.

Points

Points are fees paid to the lender or broker for the loan and are often linked to the interest rate- usually the more points you pay, the lower the rate.

Check your local newspaper for information about rates and points currently being offered.

Ask for points to be quoted to you as a dollar amount?rather than just as the number of points ? so that you will actually know how much you will have to pay.

Fees

A home loan often involves many fees, such as loan origination or underwriting fees, broker fees, and transaction, settlement, and closing costs. Every lender or broker should be able to give you an estimate of its fees. Many of these fees are negotiable. Some fees are paid when you apply for a loan (such as application and appraisal fees), and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. “No cost” loans are sometimes available, but they usually involve higher rates.

Ask what each fee includes. Several items may be lumped into one fee.

Ask for an explanation of any fee you do not understand. Some common fees associated with a home loan closing are listed on our Equity Shopping Worksheet.

Down Payments and Private Mortgage Insurance

Some lenders require 20 percent of the home’s value be present as equity before issuing a loan. However, many lenders now offer loans that require less than 20 percent value?sometimes as little as 5 percent. If a 20 percent is not there, lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the lender in case the home buyer fails to pay.

Ask about the lender’s requirements for equity, including what you need to do to verify that equity is present.

Ask your lender about special programs it may offer.

If PMI is required for your loan,

Ask what the total cost of the insurance will be.

Ask how much your monthly payment will be when including the PMI premium.

Ask how long you will be required to carry PMI.

Obtain the Best Deal That You Can

Once you know what each lender has to offer, negotiate for the best deal that you can. On any given day, lenders and brokers may offer different prices for the same loan terms to different consumers, even if those consumers have the same loan qualifications. The most likely reason for this difference in price is that loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. Generally, the difference between the lowest available price for a loan product and any higher price that the borrower agrees to pay is an overage. When overages occur, they are built into the prices quoted to consumers. They can occur in both fixed and variable-rate loans and can be in the form of points, fees, or the interest rate. Whether quoted to you by a loan officer or a broker, the price of any loan may contain overages.

Have the lender or broker write down all the costs associated with the loan. Then ask if the lender or broker will waive or reduce one or more of its fees or agree to a lower rate or fewer points. You’ll want to make sure that the lender or broker is not agreeing to lower one fee while raising another or to lower the rate while raising points. There’s no harm in asking lenders or brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere.

Once you are satisfied with the terms you have negotiated, you may want to obtain a written lock-in from the lender or broker. The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid. A fee may be charged for locking in the loan rate. This fee may be refundable at closing. Lock-ins can protect you from rate increases while your loan is being processed- if rates fall, however, you could end up with a less favorable rate. Should that happen, try to negotiate a compromise with the lender or broker.

Remember: Shop, Compare, Negotiate

When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper and the Internet are good places to start shopping for a loan. You can usually find information both on interest rates and on points for several lenders. Since rates and points can change daily, you’ll want to check your newspaper often when shopping for a home loan. But the newspaper does not list the fees, so be sure to ask the lenders about them.

Our Worksheet may also help you. Take it with you when you speak to each lender or broker and write down the information you obtain. Don’t be afraid to make lenders and brokers compete with each other for your business by letting them know that you are shopping for the best deal.

Fair Lending Is Required by Law

The Equal Credit Opportunity Act prohibits lenders from discriminating against credit applicants in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, whether all or part of the applicant’s income comes from a public assistance program, or whether the applicant has in good faith exercised a right under the Consumer Credit Protection Act.

The Fair Housing Act prohibits discrimination in residential real estate transactions on the basis of race, color, religion, sex, handicap, familial status, or national origin. Under these laws, a consumer cannot be refused a loan based on these characteristics nor be charged more for a loan or offered less favorable terms based on such characteristics.

Credit Problems? Still Shop, Compare, and Negotiate

Don’t assume that minor credit problems or difficulties stemming from unique circumstances, such as illness or temporary loss of income, will limit your loan choices to only high-cost lenders.

If your credit report contains negative information that is accurate, but there are good reasons for trusting you to repay a loan, be sure to explain your situation to the lender or broker. If your credit problems cannot be explained, you will probably have to pay more than borrowers who have good credit histories. But don’t assume that the only way to get credit is to pay a high price. Ask how your past credit history affects the price of your loan and what you would need to do to get a better price. Take the time to shop around and negotiate the best deal that you can.

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Home Mortgage Insurance

What is Mortgage Insurance?

Mortgage insurance is a policy that protects lenders against some or most of the losses that result from defaults on home mortgages. It’s required primarily for borrowers making a down payment of less than 20%.

How does mortgage insurance work? Is it like home or auto insurance?

Like home or auto insurance, mortgage insurance requires payment of a premium, is for protection against loss, and is used in the event of an emergency. If a borrower can’t repay an insured mortgage loan as agreed, the lender may foreclose on the property and file a claim with the mortgage insurer for some or most of the total losses.

Do I need mortgage insurance? How do I get t?

You need mortgage insurance only if you plan to make a down payment of less than 20% of the purchase price of the home. Use the calculators at Mortgage101 to find out what you can affordThe FHA offers several loan programs that may meet your needs. Ask your lender for details.

How can I receive a discount on the FHA intial mortgage insurance premium?

Ask your real estate agent or lender for information on the HELP program from the FHA. HELP – Homebuyer Education Learning Program – is structured to help people like you begin the homebuying process. It covers such topics as budgeting, finding a home, getting a loan, and home maintenance. In most cases, completion of this program may entitle you to a reduction in the initial FHA mortgage insurance premium from 2.25% to 1.75% of the purchase price of your new home.

What is PMI?

PMI stands for Private Mortgage Insurance or Insurer. These are privately-owned companies that provide mortgage insurance. They offer both standard and special affordable programs for borrowers. These companies provide guidelines to lenders that detail the types of loans they will insure. Lenders use these guidelines to determine borrower eligibility. PMI’s usually have stricter qualifying ratios and larger down payment requirements than the FHA, but their premiums are often lower and they insure loans that exceed the FHA limit.

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Types of FHA Loans

What is a 203(b) loan?

This is the most commonly used FHA program. it offers a low down payment, flexible qualifying guidelines, limited lender’s fees, and a maximum loan amount.

This is a loan that enables the homebuyer to finance both the purchase and rehabilitation of a home through a single mortgage. A portion of the loan is used to pay off the seller’s existing mortgage and the remainder is placed in an escrow account and released as rehabilitation is completed. Basic guidelines for 203(k) loans are as follows:

The home must be at least one year old.

The cost of rehabilitation must be at least $5,000, but the total property value – including the cost of repairs – must fall within the FHA maximum mortgage limit.

The 203(k) loan must follow many of the 203(b) eligibility requirements.

Talk to your lender about specific improvement, energy efficiency, and structural guidelines.

What is an energy efficient mortgage (EEM)?

The Energy Efficient Mortgage allows a homebuyer to save future money on utility bills. This is done by financing the cost of adding energy-efficiency features to a new or existing home as part of an FHA-insured home purchase. The EEM can be used with both 203(b) and 203(k) loans. Basic guidelines for EEMs are as follows:

The cost of improvements must be determined by a Home Energy Rating System or by an energy consultant. This cost must be less than the anticipated savings from the improvements.

One- and two-unit new or existing homes are eligible- condos are not.

The improvements financed may be 5% of property value or $4,000, whichever is greater. The total must fall within the FHA loan limit.

What is the FHA bridal registry program?

Just as you might register at a department store for wedding gifts, the Bridal Registry program allows couples to register with a lender and open up an interest-bearing account. Family and friends can deposit wedding gifts of cash into this account. These gifts can then be applied toward a down payment on a home. Ask your lender for details.

What is a Title 1 loan?

Given by a Lender and insured by the FHA, a Title I loan is used to make non-luxury renovations and repairs to a home. It offers a manageable interest rate and repayment schedule. Loans are limited to between $5,000 and 20,000. If the loan amount is under 7,500, no lien is required against your home. Ask your lender for details.

What other loan products or programs does the FHA offer?

The FHA also insures loans for the purchase or rehabilitation of manufactured housing, condominiums, and cooperatives. It also has special programs for urban areas, disaster victims, and members of the armed forces. Insurance for ARMS is also available from the FHA.

How can I obtain FHA-insiured loan?

Contact an FHA-approved lender such as a participating mortgage company, bank, savings and loan association, or thrift. You can check FHA Loan rates at Mortgage101.com.

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Second Mortgage Financing

If you are like most homeowners, you probably have a first mortgage loan on your home. Typically, such loans are for 25 to 30 years, with the monthly payments adjusted so that the loan is paid in full at the end of the term.

As you make monthly mortgage payments and the value of the home increases, your interest in the property (called “equity”) grows. After a while, some homeowners may wish to borrow against the equity in their home to get cash, to make home improvements, to educate their children, or to consolidate personal debts. Because such loans are in addition to the first mortgage on the home, they are commonly called “second mortgage” loans.

Second mortgage loans are different from first mortgages in several ways. They often carry a higher interest rate, and they usually are for a shorter time, 15 years or less. In addition, they may require a large single payment at the end of the term, commonly known as a balloon payment.

Traditionally, second mortgage loans are offered with a fixed loan amount and a predetermined repayment schedule. Some lenders now offer lines of credit that allow you to obtain cash advances with a credit card or to write checks up to a certain credit limit. These often are called “home equity lines” because the equity in your home is collateral for the amount of credit you request. As you pay off the outstanding balance, you can reuse the line of credit during the loan period.

This article provides answers to some common questions people ask when they begin shopping for a second mortgage or home equity loan. It discusses choosing a lender, the meaning of some mortgage terms, costs, disclosure documents, and contacts for resolving problems.

How do I choose a lender?

When you are looking for a lender, shop around and make comparisons. Interest rates, repayment terms, and origination fees may vary substantially. Ask your local banks, savings and loans, credit unions, or finance companies about their loan terms. Although you will want to select the lender who offers you terms most suited to your needs, be sure to ask and compare the annual percentage rates (APR) because they will give you the total cost of the loan, including financing charges.

If you have not done business with the lender before, or if the lender is unfamiliar to you, you may wish to ask your local Better Business Bureau or consumer protection office if they have any complaints against the lender.

How long will I have to repay the loan?

Some second mortgage loans may extend for as long as 15 or 20 years- others may require repayment in one year. You will need to discuss the repayment terms with the lenders and select one who offers terms that best suit your needs. For example, if you need to borrow $20,000 to make repairs on your home, you may not want a loan that requires you to repay the entire amount in one or two years because the monthly payments may be too high.

Will my interest rate change?

If you have a fixed-rate loan, the interest rate is set for the life of the loan. However, many lenders offer variable rate mortgages, also known as adjustable rate mortgages or ARMs. These provide for periodic interest-rate adjustments. If your loan contract allows the lender to adjust or change the interest rate, be sure you understand when the lender has the right to change the interest rate, whether there are any limits on how much the interest or payments can change, and how often the lender can change the rate. You also should know what basis the lender will use to determine a new rate of interest.

How much will my monthly payments be and will they pay off the loan?

Be sure you understand how much your monthly payments will be and what they cover. Your lender should be able to give you this information in advance. With some loans, you will be required to make monthly payments on the principal and interest. With other loans, you may be required to pay interest only on the borrowed amount- in these loans, your monthly payments will not reduce the principal amount of the loan. With such a loan, you will be required to pay back the entire borrowed amount at the end of the loan period. These loans are popularly known as “balloon loans.” If your loan has a balloon payment, you should consider how you will arrange to repay the entire amount when it becomes due.

On “home equity lines,” the lender does not have to give you the exact amount of the monthly payment, but must explain how it is figured. This is because the borrowed amount will vary and your outstanding balance will change if you use the line of credit. However, if your monthly payment term is 5% of the outstanding balance and your outstanding balance is $5,000, your minimum monthly payments would be $250.

Will I have to pay any fees to get this loan?

Many companies will charge a fee for lending you money. The fee is usually a percentage of the loan and is sometimes referred to as “points.” One point is equal to one percent of the amount you borrow. For example, if you were to borrow $10,000 with a fee of eight points, you would pay $800 in “points.” The number of points lenders charge varies, so it may be worthwhile to shop around. If the fee seems too high, you may be able to bargain for or find a lower fee. Be sure to get the amount of the fee in writing before you take the loan. Many states limit the amount of fees a lender may charge on a second mortgage loan. You may want to check with your state’s consumer protection office or banking commissioner to determine whether there is a limit in your state.

What should I get in writing?

If your loan is primarily for personal, family, or household purposes, the lender is required to give you a federal Truth in Lending disclosure form before you sign the customary loan documents, such as a note or deed of trust. This Truth in Lending form will tell you the actual cost of the loan. It includes the annual percentage rate, the finance charge, and the fees included in the loan. For “home equity lines,” your lender also is required to send you a periodic statement, usually monthly.

The lender also is required to give you a notice of your right of rescission. The right of rescission gives you three business days after signing for the loan and receiving the Truth in Lending Act disclosures to reconsider whether you want to take the loan. For additional information about the right of rescission, ask for the free FTC brochure, Getting a Loan: Your Home as Security, at the address listed at the end of this brochure.

If your lender makes any promises, such as saying you can “automatically” get the loan refinanced at the end of the term, be sure your lender puts these promises in writing. In this way, you may avoid any future disputes.

What should I do if I have a problem?

If you ever have a problem making your loan payments, talk to your lender as soon as possible. Some lenders will work with you to arrange a temporary payment plan. Also, call the lender if you have any questions about your loan.

However, if you have problems with your lender, you may want to contact your state, county, or local consumer protection office. If they cannot help you, they can refer you to the office that can.

Courtesy of the FTC.
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Kids’ Sports: Playing Versus Winning

Kids playing team sports conjures up some pretty stereotypical images – the coach’s kid who gets to pitch or play first base, the screaming parents shouting play-by-play instruction, the perpetual benchwarmers who may get to wander into the outfield for the last couple innings (unless the score is close). Of course, many stereotypes have not arisen from nowhere, and sideline parenting and children who play sports have tossed up some interesting questions, such as: Is it more important to allow all the kids equal playing time, or to have a winning team that allows the best players the most play time?

Reason seems to suggest that a child will only get better at a sport with practice, with play. One school of thought in this surprisingly heated argument takes the position that all the children should get equal playing time so that they can improve with competitive game-time experience and also so their self-esteem might be nurtured in a structured way. Is there anything more pitiful than a boy who understands that he is the worst player on the team, as he sits on the bench for two thirds of the game feeling nervous about when and if he might get to play in right field? And how might he improve in the three innings he gets to cover in right field? Will a hit even come his way?

The other side is just as passionate about their argument for a winning team. Competition is at the heart of sports even within the team. Children compete for positions just as they compete with themselves to play better each game. Parents who have young champions and talented child-athletes naturally want them to use their skills to succeed. Children who practice and play better than the others may very well deserve to win – and winning, for many children and parents, is what the game is all about.

It may not be the most empathetic position, but it likewise has a strong argument. It can be very discouraging for the starters to build up a winning lead only to see it slip away by the more incompetent second stringers who seem to be daydreaming in their positions.

Many adults, especially those adults who may not have entered the world of children’s sports yet, might be tempted to say a game is just a game, after all, and why not simply let all the kids play whatever their skill level. But to parents and children, it is more than just a game – it is a major part of their lives and quite important to them on many levels and for many reasons. In this realm where parents have been known to scout the t-ball players for building winning little league teams, this argument may never be resolved and may just play itself out over and over again, season after season.

Perhaps the more important question for parents is what side they will take in the argument and what will they do about it before game day arrives. One suggestion might be to check with the league at the time of team selection. If possible, parents should talk over their concerns with registration officials. If you believe in equal time for all children, ask that your child be placed with a coach who has similar beliefs. Leagues will invariably have both types of coaches and you may want to check out some games to get an idea of the coaching styles in your child’s league.

Parents who have children already playing for teams might do well to talk about this issue with their child – find out his views. If he is that pitiful right fielder, be encouraging and try to squeeze in additional practice time. Play up other talents and remind him or her that it really is just a game and something simply to work at. If your child is the star shortstop and homerun hitter, help him to learn how to encourage teammates who may not play as well. Perhaps he too can squeeze in some practice time with that right fielder and begin to learn coaching skills himself. Remind him that though he is a stand out and deserving of praise, he is still part of a team and needs them as much as they need him.

Sports has been known to make grownups act, well, like children. Perhaps the best advice is to remind adults that they are adults, and they are there to provide good examples and to foster a sense of decorum and stability for children who are destined to grow up and be… just like them.

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Choosing the Right Golf Clubs

Planning on becoming the next Tiger Woods? If so, the first thing you might consider is getting some new golf clubs. Choosing the right golf clubs can make the difference between spending your time on the fairways and greens and spending your time in the rough. Although famed golfer Ben Hogan once said, “The only thing a golfer needs is more daylight,” for my money, having the right set of golf clubs runs this a close second.

First, I’ll assume you aren’t a pro. Otherwise, you probably wouldn’t be here- you’d be out perfecting that already outstanding golf swing. For the amateur golfer, choosing the right golf clubs hinges on two factors – distance and accuracy – and, of these, accuracy is the more important. The ability to hit the ball half-way across town may sound great, but if you can’t keep it on the fairway, out of the bunkers, and heading for the flag, then all the distance in the world isn’t going to help your game. So, the starting point for all of us needs to be accuracy. Once the ball starts going just where we want it to go with reasonable consistency we can start working on building distance.

Of course, cost can be a big issue when choosing a new set of clubs, but since that’s a personal conversation between you your wallet – and maybe your spouse – we won’t cover it here. Don’t forget though that you don’t need to buy tailor-made golf clubs and that a good starting point may well be one of the many outlets for discount golf equipment. Another good starting point is to look at pre-owned golf clubs.

Begin by analyzing what’s going to best fit your needs. The primary set of clubs in every golfer’s bag is the irons, so that’s what I’m going to concentrate on here. Irons have several characteristics to consider when you’re choosing golf clubs.

The first thing to look at is the method of manufacture. Irons are normally made either by casting or forging. For the novice golfer cast irons are generally better because they have a bigger sweet spot on the club face. The sweet spot is the area on the club face that you want to contact the ball and, as a general rule, the larger the sweet an miss hitting the ball directly on the center of the club face and still end up with a decent shot. Forged irons are better for more advanced golfers because they allow for better control of trajectory, allowing you to hit the ball at a desired angle to get the height necessary for the result you want.

The next thing to consider is the size of the head. As a novice golfer, you’ll find a definite trade-off here. A bigger head equals a bigger sweet spot and more tolerance of miss-hits. However, at the same time, a bigger head is also a little harder to control. You’ll probably want to start with a set of irons with medium-sized heads. They’re easier to control than the oversized-heads, but they still have a bigger sweet spot than the traditional, smaller heads.

Bet you didn’t know there were this many factors to choosing the right set of golf clubs! Well, I’m not quite done yet.

Another factor to think about when choosing golf clubs is what the head is made of – cast iron, stainless steel, or titanium. Titanium heads are best for novice golfers as this light material allows for a bigger head, without making the club too heavy. Bigger head equals bigger sweet spot! If the cost of titanium heads is beyond your wallet’s reach, then consider cast iron rather than steel. They’re durable and the harder material can help improve both accuracy and consistency.

Swing speed is also important in deciding upon the right golf clubs. Golfers with lower swing speeds can benefit from more flexible graphite shafts that are a bit longer and lighter. With a higher swing speed, it’s more likely you want to focus on accuracy, so stiffer and heavier steel shafts can help you develop that accurate ball placement that gets your name on the leader board.

Obviously, there are many factors to consider when choosing the right golf clubs. But consider what the comedian Henny Youngman once said, “The other day I broke 70. That’s a lot of clubs.” Choosing the right golf clubs for your game and level of play can reduce both your handicap and the number of clubs you get the urge to break!

If you’re relatively new to the world of golf then choosing a suitable set of golf clubs can be a daunting task.

Check out Golf-Unlimited.info/golf-equipment for golf clubs.

For more golf swinging advice check out Golf-Unlimited.info/golf-swing

Copyright 2005 Donald Saunders

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What Skiers Need to Know Before They Go

Skiers tend to have more baggage, which doesn’t have to be a bad thing. However, new luggage policies can make travelers hit unnecessary bumps at the airport long before they’ve caught sight of the mountains.

Over 57 million skiers hit the slopes last year (according to the Kottke End-of-Season Survey) and the industry expects more this year. So if you’re one of the millions headed to the slopes, there are some guidelines you need to follow.

According to the baggage basics dictated by the Transportation Security Administration, all travelers are allowed to carry on two personal items. Carry-on bags must fit in the overhead bins or under the seat in front of you and can not exceed 45 linear inches or 40 pounds.

Most major airlines permit two checked bags free of charge, providing they each weigh less than 50 pounds and are less than 62 linear inches. Oversize or excess baggage usually requires a fee, ranging from $25 to $100. Most airlines allow skiers to check a single pair of skis with poles, boots and bindings free of charge, providing the bag is within the 62-inch limit. Snowboards are permitted too, and also will count as a checked item.

Due to new security measures, it’s advisable to leave bags unlocked, or they’ll likely be cut open when inspected. (Consider using single-usage ties or disposable locks instead.)

If the thought of skiing sounds great, but lugging your equipment is inhibiting, opt for a service that does all the heavy lifting (literally) by pre-shipping your things and delivering them slope-side. One such service is Sports Express which permits travelers to book online or by phone.

While this kind of service may not come cheap, prices do vary. Inquire about various shipping options to decide what’s most economical for you.

Remember, if you’re hauling your own luggage, avoid expensive fees by inquiring about size specifications prior to traveling. Paying heed to security procedures may alleviate the headache for those hoping to land in winter wonderland.

Whether you’re a ski-bunny or a board pro, knowing the rules ahead of time will pay off, leaving more money for anything from apparel to apres ski activities. The only thing you should have to worry about is making the most of each and every run.

Ms. Ziff is Travelocity’s Editor-at-Large.

Courtesy of NAPSnet.
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How to Fix a Flat Bicycle Tire

what you’ll need

Patch repair kit

Spare tube

Air pump

Set of tire levers

Wrench

Discovering a flat tire is not only annoying, it can also cause delay to your plans if it arises at an inappropriate time. By knowing how to fix a flat bicycle tire, you can ensure that you can always remain on the move.

Step 1 – Problem Type

The manner in which you repair a flat tire will not only depend on the type of damage that it has sustained, but also on the time of day and the conditions that you find yourself in. You do not want to waste time replacing the tube if you are on your way home on a dark night in driving rain. This is why it is prudent to carry a spare tube as well as a tire repair kit.

If you find that the tire is flat after having been fine the previous day, you are likely to have a slow air leak that can be difficult to fix because the small puncture hole is often difficult to find. A larger puncture can be the cause if you find that your pedaling and/or steering becomes difficult during your ride and there is no other explanation.

Step 2 – Inspect the Tire

As soon as you realize you have a problem, inspect the flat tire to find the cause so that you can rectify it. If it occurs whilst you are riding, get off the road and into a safe position- if it occurs in the darkness, make sure that you keep your lights on to enable others to see you.

Turn the bike over and prop it up on its handlebars and seat to check the tires. If the reason for the problem is not immediately evident, slowly rotate the tire to locate the source of the air leak- this could be anything from a tiny puncture to a slither of glass.

Step 3 – Repair Small Punctures

In the event that the reason for the flat tire can be found after a visual inspection and it is not close to the valve, you will find that you can repair it without needing to remove the tire. If necessary, keep your finger on the puncture so that you don’t lose track of it and use two tire levers between the tire and the rim to pry the two away from each other. This will allow you access to the point of damage so that you can use the repair kit to patch the tube in accordance with the instructions.

Step 4 – Large Repair

If the reason for the flat tire is difficult to find or you simply have the time to replace the tube, the next step you need to take is to remove the tire. Start by removing the entire wheel completely before using the tire levers to separate the tire from the rim. Position the new tube in the tire so that the valve stem is in place first. This may be easier when there is a little air in it. Return the tire to the rim by hand before using the pump to re-inflate the tire.

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How To Buy a Bicycle

Buying a bicycle may seem like a simple task, but there is a significant amount of consideration that needs to go into your purchase. A bike must fit your needs, style and intentions.

First, understand what type of cycling you want to do and your expected experience. The more familiar you are with your cycling needs, the easier it will be to locate a dealer and bike that will suit it. You will also need to determine your budget. The price range of bikes is anywhere from $300 to $2,000 and up.

After you figure out your cycling intentions, determine which style is best. There are a variety to choose from including the basics:
* Mountain. These are rugged bikes for a variety of conditions. Mountain bikes feature fat, knobby tires for comfort and traction, wide-rise or flat handlebars for control, and easy gear shifting. Some mountain bikes also have suspension for increased shock absorption and improved handling. The rider is typically upright. This type of bike tends to be the most versatile, allowing you to travel anywhere- to and from work and off-road on the weekends. Think of this as the SUV of bikes.
* Road. These are meant for pavement riding and are built for speed. They have narrower tires and drop bars for a more aerodynamic position. The rider is typically tilted forward to grip the handlebars. This bike is best for commuting but, like a car’s, its thin tires do not handle potholes well. Think of this as the sports car of bikes.
*Comfort. These are designed to give a smooth, comfortable and hassle-free ride. Generally they have wider tires, soft seats and an upright riding position. They offer a wide range of gears suitable for many types of terrain. Think of these bikes as the luxury sport sedan.

Just like you need to have enough leg room in your car you also need your bike to fit your frame for an enjoyable ride. Working with a retailer is the best way to choose the correct size bicycle. The length of your inseam determines the correct frame size, in terms of stand-over height.

Remember that it is critical to test ride a bike to see if it meets all your specifications and to find out if you are comfortable. Work with your bike retailer to find conditions for a test drive that most resemble how you plan to use the bike on a regular basis. This is your opportunity to ask questions about bike features that you might not be familiar with. Bike shop experts will match your particular needs to an appropriate bike.

Before you buy a bicycle, it’s a good idea to determine how it will be used. Courtesy of NAPSnet
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How to Wax Your Snowboard

what you’ll need

2 Workbenches

Drop Cloths

Steam Iron

Plastic Scraper

Snowboard Wax

Abrasive Cleaning Pad

If you plan to take up snowboarding, knowing how to wax snowboard surfaces should become part of your skillset. Proper waxing gives you control of the board during use on the slopes while prolonging the life of your snowboard.

Step 1 – Setting Up

Place a cloth over the workbenches for protection and balance the snowboard across them.

Step 2 – The Wax

The wax should be heated to melt onto the snowboard. Plug the iron in and set it to middle hot. Once it reaches temperature hold it in one hand and rub the wax against it, allowing it to melt onto the snowboard surface.

Step 3 – Spreading the Wax

Spread the wax on the snowboard using the iron, as though you were ironing laundry. Spread it out thinly all the way over the entire lower surface. Scrape any excess wax from the snowboard.

Step 4 – Polishing the Board

Use the abrasive pad to polish the rest of the surface wax into the snowboard. You should conduct this waxing process after each three uses, four at the most. Any longer gap than that will affect the snowboard adversely.

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