Green Homeowner's Insurance?

Fireman’s Fund Insurance Company – the nation’s first provider of green insurance for commercial buildings – will launch green insurance for homeowners starting this summer.

This is the first-ever admitted green insurance available to homeowners in the United States. Setting a new standard, Fireman’s Fund is offering this innovative product to homeowners who currently own green homes or who want to upgrade their residences with green features after a loss using environmental safety and efficiency standards. If a home is completely destroyed, it can be rebuilt to green standards, certified as having Leadership in Environmental and Energy Design status.

Homeowners whose residences are already green will be offered a five percent discount on this coverage, applied to the homeowner premium.

With this new coverage, homeowners will be able to rebuild and replace with green alternatives such as:

• Energy Star®-rated appliances, lighting, electronic equipment and roofing/insulation
• An Energy Star upgrade of heating, ventilation and air-conditioning systems
• Forest Stewardship Council certified wood for millwork, ceilings, siding and framing, including bamboo flooring
• Non-toxic, low odor paints and carpeting
• Water-saving plumbing fixtures
• Elimination of ozone-depleting refrigerants and fire extinguishing agents, replaced with environmentally friendly alternatives
• Debris removed after damage to a home will be recycled and diverted from landfill

The green homeowners insurance is now approved for homeowners in 26 states (Arizona, District of Columbia, Delaware, Georgia, Hawaii, Idaho, Illinois, Kansas, Kentucky, Louisiana, Maine, Michigan, Missouri, Nebraska, New Jersey, Nevada, Ohio, Oregon, Pennsylvania, Rhode Island, Tennessee, Virginia, Washington, Wisconsin and Wyoming), with most other states expected to offer the coverage by year-end. The Coverage will be available in California as part of the Prestige® Home Premier Policy on August 1st.

Houses Trading Like Stocks?

In some parts of the country, the housing market is every bit as risky as the stock market. Seems appropriate then that you can trade houses just like you do stocks. Never heard of the concept? Money Editor Stacy Johnson, explains… (Video runs 1:44)

Any comments about this "House Trading" ?  Tell us what you think by using the comment link below. Your email address will never be published here to protect your identity and security of your email…

Housing Rescue Pace Slows

Hope Now, the mortgage industry alliance of lenders, servicers and housing counselors, reported recently that it helped roughly 170,000 homeowners avoid foreclosure in the month of May. That's down 7% from the 183,000 loan workouts it reported for April.

The group estimates that its members have helped keep 1.7 million homeowners out of foreclosure since July 2007. Repayment plans are considered most effective for borrowers experiencing a temporary financial set back - such as a layoff - in which they fall behind on their mortgage payments.

Housing advocates contend that repayment plans are typically not sufficient to keep today's subprime borrowers in their homes because they don't reduce the borrower's delinquent debt - they simply give borrowers more time to repay their outstanding debt on top of their regular mortgage payments.

While the number of homeowners that Hope Now helped dipped 7% from April to May, the number of homes lost to foreclosure during that same period jumped 35% to 73,000, according to RealtyTrac. Foreclosure filings were up 7% in the same period. That's a trend foreclosure experts expect will continue for the next 18 months.

National Speed Limit: Would You Slow Down?

Sen. John Warner of Virginia, asked Energy Secretary Samuel Bodman to look into what speed limit would provide optimum gasoline efficiency given current technology. He said he wants to know if the administration might support efforts in Congress to require a lower speed limit.

In 1974, Congress set a national 55 mph speed limit because of energy shortages caused by the Arab oil embargo. The speed limit was repealed in 1995 when crude oil dipped to $17 a barrel and gasoline cost $1.10 a gallon.

Today, gasoline averages around $4.10 a gallon nationwide, with oil hovering around $145 a barrel.

If Congress does re-impose a lower speed limit on our nations' highways, the question is, will that make you slow down? Tell us what you think about lowering speed limits in an effort to save gasoline and HOPEFULLY lower the skyrocketing fuel prices. Do you think lowering the speed limit will even make any difference at the pump? Sound off. Tell us what you think. Use the "comment" link below to tell us. Your email address will NOT be published here, so don't worry about anyone emailing you or harvesting your email address here.

Saving for a Down Payment

Ok, so saving $20,000 for a down payment on a home or condo by purchasing generic brand drugs versus the name brand alternatives may sound a little far-fetched, but watch this video, and Money Editor Stacy Johnson will explain. (Runs 1:29) 

So do you buy name brand, or generic? Any different view on it now? Give us your feedback by using the comment link below. We'd love to hear your opinion.