Wells Fargo No Longer Accepting HELOC Applications

May 4, 2020 – Wells Fargo announced last Thursday that it will no longer be accepting applications for home equity lines of credit (HELOCs) after April 30. The company joins another big bank, JPMorgan Chase, in taking this route “after carefully considering current market conditions and economic uncertainty due to COVID-19,” according to its website.

What Is a HELOC?

A home equity line of credit, or HELOC, is similar to a credit card, providing the borrower with a specific amount of money they can borrow and pay back, available to draw from as needed (this is different from a home equity loan, which they would receive as a lump sum). The line of credit allows homeowners to borrow money typically against 80% of the equity (the value of the home minus the amount still owed on the mortgage) they have in their property, meaning the home becomes

Read More

3M Relies on More Than Just Face Masks to Get Through Pandemic

(Bloomberg) — 3M Co. jumped after the maker of personal protective equipment reported strength in more than just its face-mask business.

Rising demand for cleaning supplies, food-safety products and even home-improvement items helped propel sales and profit above Wall Street’s expectations for the first quarter. While many industries have been decimated by the coronavirus outbreak, 3M reported Tuesday that its revenue rose 2.7%.

“These quarterly results were better than feared and indicated that there were still pockets of growth in personal safety, food safety, general cleaning and biopharma filtration,” Deane Dray, an analyst with RBC Capital Markets, said in a note. Virus-driven demand for respirators, meanwhile, added 1.3 percentage points of organic growth, he said.

The results underscore the dramatic economic upheaval caused by the coronavirus pandemic. While demand has tailed off in industries such as air travel and restaurants, other companies are seeing soaring interest in products to fight

Read More

First Aid When the Roof Leaks

25 Hints for Fixing Roof and Gutter Issues | The Family Handyman

Rain is a blessing because it keeps us from drought. But during the rainy season, there is one classic problem that often occurs, the roof is leaking.

The causes and sources of these leaks can also vary, one of which is the problem with the roof tiles and holes in the ceiling. If this happens, just call the best roofer such as the chesterfield roofer and while waiting for the roofers to arrive, you can do a number of things to stop leaks so as not to cause more damage.

Check out the following steps.

Hold water

Usually, leaks come from the ceiling of the house, so immediately check that part. If there are wet parts, drops of water are falling, and the rain hasn’t stopped, put a bucket or other container under the leak area. Let the bucket hold the raindrops.

Cover furniture

If water drops fall near the … Read More

Plymouth Orders Face Masks In Public Buildings

PLYMOUTH, MA — The Plymouth Board of Health became the latest South Shore community to issue an order to the public to wear face masks in public buildings and common areas of residences on Wednesday. The Plymouth order, which did not specify fines for non-compliance or language endorsing businesses refusing service to patrons not wearing masks, does include a $300 fine for for improper disposal of gloves, face masks and other personal protective equipment.

Weymouth and Hingham enacted orders this week “strongly advising” the use of face masks in those towns in cases where a social distance of 6 feet or more cannot be safely maintained.

The Plymouth order said the public must wear a mask covering the mouth and nose in any essential building, including, but not limited to, grocery stores, farm stand stores, pharmacies, home improvement stores, banks, ice cream manufacturers/dairies, government agencies, liquor/beer/wine stores, convenience stores, and

Read More

Mastercard sees spending return as economies open after coronavirus gloom

By Noor Zainab Hussain

(Reuters) – Mastercard Inc <MA.N> said it expects consumer spending to gradually return to “pre-COVID” levels as people start using their cards again on clothing and domestic travel with countries easing lockdown measures that have brought the world to a standstill.

The world’s second-largest payment processor on Wednesday reported better-than-expected first-quarter earnings and said it has started seeing early signs of spending levels stabilizing.

The novel coronavirus pandemic has shut down large parts of the global retail industry as stores remain shut and shoppers stay at home to avoid catching the highly contagious illness.

The outbreak has also hammered the global economy, pushing companies to layoff employees by the millions. That, in turn, could weigh on credit card issuers as more people default on their payments.

“We believe we are currently in the stabilization phase in most markets. The next phase is normalization, where governments gradually

Read More

2 North Shore Killers Released Under SJC Ruling

BEVERLY, MA — Two convicted murderers from the North Shore are among the more than 200 inmates released by the Massachusetts Department of Correction since a Supreme Judicial Court order earlier this month.

Richard Crotty, 62, and Barbara Goucher, 54, were both scheduled to be released Tuesday. Crotty served 32 years for the 1987 murder of Gary Landry in the basement of Landry’s Beverly home. Goucher was convicted of the 1998 stabbing death of 50-year-old Florence “Bunny” Munroe in Gloucester.

Both were beneficiaries of a ruling by the Supreme Judicial Court earlier this month that came after inmates rights groups raised concerns about the spread of the new coronavirus in state prisons. The ruling was primarily directed at people not yet convicted of nonviolent crimes who were awaiting trial, but also included provisions to speed up the release on parole of some convicted inmates.

On Tuesday, the state’s high

Read More