Foreclosure properties can be a terrific investment, or give home buyers a much more affordable option than traditional properties in this time of escalating prices. But, before you jump in assuming this is "real-estate for dummies" or the next get-rich-quick scheme, think again! You really need to know your stuff when it comes to navigating your way through the process and making sure you're getting the most bang for your buck.

How many times have you heard 'they don't build 'em like they used to'? Why do people say this? Is it true?

Absolutely NOT! Besides a FEW things that were better with older homes (no 'finger jointed' studs or trim, better quality wood, no hollow doors or 'pressboard', better doorknobs and no computer controlled appliances), modern homes are much better in many ways.

Asbestos is a mineral fiber. It can be positively identified only with a special type of microscope. There are several types of asbestos fibers. In the past, asbestos was added to a variety of products to strengthen them and to provide heat insulation and fire resistance. 

How Can Asbestos Affect My Health?

From studies of people who were exposed to asbestos in factories and shipyards, we know that breathing high levels of asbestos fibers can lead to an increased risk of: 

• lung cancer:

-- mesothelioma, a cancer of the lining of the chest and the abdominal cavity; and 
-- asbestosis, in which the lungs become scarred with fibrous tissue.

The risk of lung cancer and mesothelioma increases with the number of fibers inhaled. The risk of lung cancer from inhaling asbestos fibers is also greater if you smoke. People who get asbestosis have usually been exposed to high levels of asbestos for a long time. The symptoms of these diseases do not usually appear until about 20 to 30 years after the first exposure to asbestos.

Federal Reserve Board Office of Thrift supervision, Equal Housing Opportunity We believe a fully informed consumer is in the best position to make a sound economic choice. If you are buying a home, and looking for a home loan, this booklet will provide useful basic information about ARMs. It cannot provide all the answers you will need, but we believe it is a good starting point.