Warning Signs That Tell You Something Is Wrong With Your Sewer Line

 
 

Issues with your home’s sewer line can interrupt your daily life.

If left alone and unrepaired, it can increase your home’s risk of serious structural damage. It's for this reason that it's vital to always keep an eye out for any of these warning signs:

Multiple Slow Drains

When a single drain is slow, it is often caused by a smaller clog in the trap or somewhere else higher up in the system. However, if you've recently noticed that multiple drains throughout your home are slow, then it is time to consider calling professional plumbing services. Multiple clogged drains could be the result of a clogged sewer line that needs to be addressed right away. Failing to unclog the line might lead to a burst pipe or other type of serious damage in your home.

Lingering Sewage Odors

It's an unfortunate fact that a damaged sewer line can lead to your entire property smelling unpleasant. Although minor odors around toilets and drains are perfectly normal, you should be wary if you can smell sewage all over your property. The smells might also be particularly noticeable out in your yard if the sewage line has a crack or leak of any type.

Mold

Whenever there is excess moisture in a small space, mold can be a very real threat. In addition to simply being unsightly, mold can be a serious health hazard for you and your family, especially if anyone in the house suffers respiratory issues, such as asthma. In a damaged sewer line, the mold might be found in your basement or even around some of the exterior walls. Depending on the severity of the leak, you might also find standing water in your basement or near the outer foundation of your home.

Changes to Your Yard

When damage to your sewage line occurs outside of the home, it might impact how your lawn looks or feels. The extra moisture from a sewer leak could make your grass more lush, or it could kill off patches of your lawn. You might also notice that areas of your lawn seem muddy or wet, even if it hasn't rained in your area recently.

A damaged sewer line is one issue that homeowners should never ignore. If you have recently noticed any signs that your plumbing system might be damaged, you should schedule an immediate service call with a contractor who can inspect the system and deal with any issues that they find.
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Freddie Mac spurs landlords to report on-time rent payments

 
 

Move follows Fannie Mae decision to include on-time rental payments in its underwriting process.

Freddie Mac wants to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a better shot at qualifying for a mortgage.

The government-sponsored enterprise will provide closing cost credits on multifamily loans for rental landlords who agree to report on-time rental payments through Esusu Financial. Esusu, a credit-building fintech, will deliver the on-time rental payment reports from landlords’ property management software to the credit bureaus. Freddie Mac negotiated discounted fees for Esusu’s services.

Much like Fannie Mae’s recent move to include rental payments in its underwriting process, only on-time rent payments will be included. Taking into consideration on-time rental payments is one way the government-sponsored enterprises are hoping to gain a clearer picture of borrowers’ credit profile. Currently, only 10% of renters benefit from on-time rental payments as part of their credit scores, which limits their ability to access credit, Freddie Mac said in a release.

“Rent payments are often the single largest monthly line item in a family’s budget but paying your rent on time does not show up in a credit report like a mortgage payment,” said Michael DeVito, CEO of Freddie Mac. “That puts the 44 million households who rent at a significant disadvantage when they seek financing for a home, a car or even an education. While there remains more to do, this is a meaningful step in addressing this age-old problem.”

The biggest obstacle to reporting on-time rental payments, according to Freddie Mac, is the administrative and compliance burden for landlords. Esusu manages the reporting process end-to-end and ensures compliance.

Esusu can report up to two years of past on-time rental payments, enough to move the needle on consumer credit scores. Currently, when rents are reported to the credit bureaus, it’s mostly to ding consumers’ credit reports for missed payments when they go to a collections agency, said Alexis Sofyanos, senior director of equity in multifamily housing at Freddie Mac.

“Freddie Mac wants to flip that script, so that renters who pay their rent on time and in full each month get credit for doing so, while also putting in safeguards for the most vulnerable,” Sofyanos said.

Esusu’s platform also allows renters to verify their rental history. Esusu co-founders Samir Goel and Abbey Wemimo said that the partnership with Freddie Mac allows them to tackle credit invisibility, which disproportionately afflicts people of color. In a prepared statement, Goel and Wemimo said that there are 45 million adults in America with no credit score, “the vast majority of whom are immigrants, minorities and low-to-moderate income households.”

“The benefit of the Esusu platform is that everyone wins,” said Goel and Wemimo. “It’s a win for renters, property owners and society at large.”

While Fannie Mae and Freddie Mac have now both taken steps to allow renters to more easily access credit, their regulator, the Federal Housing Finance Agency, is considering whether to allow the GSEs to use an alternative credit score model. One alternative under consideration, developed by VantageScore Solutions, includes data like rental and utility payments, which it claims allows it to score 96% of the adult population. VantageScore is owned by the three major credit bureaus. A new FICO score, which factors in rental data, is also under consideration by the regulator.

FHFA Acting Director Sandra Thompson has also recently said she would like the GSEs to take into consideration other non-traditional data sources, such as cell phone payments.

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Just Listed: Charming Applewood Valley Gem

 
 
 

This 1961 gem located in Applewood Valley in Golden oozes with charm and character.

The unique floor plan is a split level with common living areas on the main level, including a lovely living room and dining area leading out the the deck and fully fenced huge backyard! The kitchen is waiting for your stylish updates, or enjoy the well maintained space as is. Up a few stairs you will find a spacious primary suite with a 3/4 bath, and two secondary bedrooms that have great natural light and share a full bath in the hall. Downstairs, the garden level great room is perfect for entertaining friends and family, or for cozy nights in watching your favorite show in front of the fireplace. A conforming bedroom and 3/4 bath downstairs is also the perfect set-up for guests! Located close to the bus lines and just a few quick minutes to I-70, this home will have you downtown or in the mountains in no time.

Listed by Terri Lombardi for West + Main Homes. Please contact Terri for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
(720) 903-2912
hello@westandmainhomes.com

Presented by:
Terri Lombardi
(720) 298-8768
terri@westandmainhomes.com


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This Weekend: Denver Metro Open Houses for November 5th-7th

 
 

Our agents are hosting Open Houses this weekend all over the Metro Denver. Please reach out to the listing agent for information on times and more information on the listing!

 
 
 
 

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