Rising Power Costs Is Resulting In Foreclosures

Almost daily, you hear news reports about the increasing numbers of homes in foreclosure. What you don’t hear reported is how increasing energy costs are so often the cause of this devastating problem.

Are you losing your home because you can’t afford to pay your energy bills and your mortgage? If you aren’t facing foreclosure can you afford temperature settings that keep you feeling comfortable inside your home?

During the recent U.S. housing boom, builders completed homes quickly. Interest rates were low and investors eager to cash in on high returns on investments. Unless you were knowledgeable about energy-efficient home options and made sure they were included during construction, chances are your new home uses a lot of power. It’s also likely you don’t feel comfortable in your home due to uneven room temperatures, drafts, cold floors, etc which is costing you a bunch of cash.

There was a time when home air conditioning was a luxury. Now it seems more like a necessity. Average temperatures in North America have risen over the last 20 years, remaining high for longer periods and forcing people to turn on air conditioners powered by electricity to survive excessive exposure to heat.
 
Rate caps that once held down electricity costs are ending countrywide. Maryland residents recently experienced the shock of a 70% electric rate increase. Pennsylvania residents will receive the first of several rate increases starting in 2008.

The mortgage industry facing huge losses from foreclosures is working with homeowners to reduce monthly mortgage costs. A reduction in mortgage costs may help, but this is only a temporary solution. Moving to another home, unless it is power efficient will not solve the problem.

Also, Arizona claimed the country’s second highest state foreclosure rate in 2009 with even more than six percent of properties that received at least one foreclosure filing during 2009, and Florida was the country’s third highest foreclosure rate at 5.93 percent of its properties getting at least one foreclosure during the filing year, because of the rising cost of energy useage.

This raises concerns in the power industry. Recent trends have noted that consumers are pumping up their debt and low balling their assets to receive lower payment plans for power useage. The fact that we are paying for higher costs of energy useage .

The best solution is to implement energy saving features in your home as quickly as possible. This will not only be good for you financially, it will also be good for the planet.

There are so many possibilities that we all can do in order to leave a lasting impression for the next generation. If you have children or grand children we all then share the same responsibilities. That’s to insure they will use what we use and to experience what we have experience.

This article is brought to you by George Zalcman. George Zalcman has always had a passion for green technologies, and believes that we should all get on the boat before natural resources become limited. George Zalcman is part of an air to water technology hoping that this will eventually bring an end to the water crisis as well.

Posted under Renewable Energy

This post was written by assistant on September 23, 2010

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