West Los Angeles, CA

Danish company Sort of Coal makes it possible for us to try a natural purification agent known for centuries in Japan and Korea: white charcoal.

Unlike common charcoal, white charcoal does not leave dust or residue. It is made by heating pieces of oak and bamboo over a seven-day period in an oxygen-lacking environment. The resulting product retains the original shape and unique beauty of the real wood.

White charcoal has been always used to purify air, water, and body.
Its great absorption ability makes it useful for getting rid of air pollution, unwanted smells, and moisture. When added to water, it will remove chlorine and other impurities, softening the water and improving the overall taste. Soap made with white charcoal powder cleans pores, absorbs impurities, and removes dead skin, helping to take care of acne-prone skin.
Charcoal pieces can also be placed near the computer or TV - they create natural anions, reducing harmful ionization.

White charcoal is reusable and recyclable. Its purification qualities can be reactivated through exposure to boiling water or direct sunlight for a few months up to a few years.
Once it is no longer functioning as a purifier, the charcoal can be broken into pieces and used as a soil amendment.

Some air and water purification products by Sort of Coal are available on the US market through Design Within Reach.

The Sort Of Coal website offers a full array of products: sticks for water and other liquid purification, charcoal cubes, stems and panels for air purification, white and black soaps, and Chi balancing jewelry.

My favorites are white charcoal sculptures, made from Korean oak. They refresh the air in living or commercial spaces (offices and restaurants) and help to balance Chi energy, positively influencing both our well-being and the environment.

Is time running out on the long-running mortgage rates decline of 2009?

While rates have been steady for a while, the long-term outlook could look more and more like an inflationary one, which should trigger higher mortgage rates before too long. That means higher interest payments for mortgage customers.

Opinions as to where our economy is headed for are conflicting and even contradictory. Some claim that deflation threatens our economy. Some, on the other hand, believe that the real threat to the U.S. economy is inflation, even hyper-inflation.

I tend to believe that once we are truly out of the current recession ("Main Street" recovery, not "Wall Street"), and unemployment is back to average historical level ( it may take a few years,) our economy will experience "contained" inflation. Increased global demand for agriculture commodities, and higher oil prices due to systemic weak dollar, will force the Federal Reserve to raise rates to keep rising inflation at bay.

That's why sooner than later rates are poised to rise.

Here is my question. How long will it take for mortgage rates to go up again, and why?

I look forward to your comments and opinions.

ANSWER:

THIS IS OLD LAW. IT NO LONGER APPLIES No rollover, no more over-55 rule.

The rollover or once-in-a-lifetime options were replaced with the current per-sale exclusion amounts under the Taxpayer Relief Act of 1997.

Before May 7, 1997, the only way you could avoid paying taxes on your home-sale profit was to use the money to buy another, more-expensive house within two years. Sellers age 55 or older had one other option. They could take a once-in-a-lifetime tax exemption of up to $125,000 in profits. And in all instances, there was tax paperwork (to fill out to show that you followed the rules.

Now when you sell your primary residence, you can make up to $250,000 in profit if you're a single owner, $500,000 if you're married, and not owe any capital gain taxes every time you sell a home. And there is no more age requirement.

In today's market banks and mortgage lenders are being extremely cautious about which loans they approve. Real estate values are dropping and foreclosure rates are rising, and many banks are dropping out of the mortgage business all together. Gone are the days when banks could sell their loans on Wall Street, reload, and do it again. Banks are now faced with the reality of having to actually hold on to their loans like they did in good old days. This means that they want to make sure that the loans they make at this time are good loans that will pay them back on time.

Nowadays, it seems like all we ever hear about, in reference to mortgage brokers, are the bad brokers; the ones that make headline news and are carted away on TV in handcuffs. What these stories fail to report, is that the bad mortgage brokers make up less than 1% of all the brokers that are licensed in America. In fact, it has always has been the mortgage brokers that have advocated for tougher licensing guidelines, not the banks. They have always argued that by tightening licensing guideline they can eliminate the ‘bad brokers" that give legitimate brokers a bad reputation.

What columnist and reporters fail to mention in their stories is the indispensible service brokers perform in the marketplace. For instance, each bank tends to have their own, distinct, personality when it comes to approving loans. Knowing these "personalities" is where brokers really begin to benefit their clients. Brokers have working relationships with almost every kind of lender imaginable and know each lender's uniqueness, rates and approval thresholds. This way, they are able to place your loan with the best investor the first time, saving their clients time and money.

Most brokers also have working relationships with the underwriters that work for these lenders as well. This doesn't mean that they can get bad loans through the system; but it does mean that they can help underwriters see the glass half-full as opposed to half-empty while they are underwriting your loan. In today's market, almost all mortgages are considered "marginal" and scrutinized by underwriters, having someone on your side is an invaluable asset.

One of the biggest selling points using a broker is personalized service. "So what, all I need is a good rate" is the response I have had from some customers in the past, but consider this. As opposed to brokers, when you submit your loan application to one of the large banks, your loan becomes a number and is pushed through the system as if it was on an assembly line. The monolith lenders usually have a person at the bank accept your application who will never see the loan package again. Those of you that have used the large banks know what I mean, those of you who haven't, I suggest you try this exercise before committing to a larger lender.

Pretend you have just submitted a loan application a week ago with one of the large lenders. Let's assume that you have forgotten to give the loan officer a key piece of information that can really help with your approval. Call their 800 number and try to find the right person to give this to so that the underwriter can consider it when approving your loan. This should answer the question, "Why do I need good service." Another misconception a lot of people have is that you actually pay more using a broker because they are the infamous "middle man."

This couldn't be farther from the truth, in fact, most brokers can offer lower pricing than larger banks nine out of ten times. This is because, much like manufactures, money has a retail cost and a wholesale cost, and brokers get the wholesale pricing. Banks have to charge retail for their money because of the added expense it takes to close mortgages. They have to pay loan officers, processors, underwriters and many more expenditures that are involved with closing a loan. Simply put, their overhead is higher than most of the brokers, which results in lower pricing for you. Keep these facts in mind the next time you read an article about "crooked brokers" and remember, honest brokers don't sell newspapers but they can save you time and money.

Reprint from an articles written by Aubrey Clark author and editor for Direct Banc 08.11.2008.