1.  Prepare an Emergency kit-
   Of the utmost importance is a flashlight, extra batteries, and bottled water.
   Follow the link for a sample emergency kit- 
   www.nyredcross.org/?nd=hurricane_safety_guide
2. Put away or secure outdoor furniture-
   Secure anything that could become a projectile in heavy winds- including garbage cans. 
3. Clear debris from gutters.
4. Trim dead tree branches that could fall during the storm.
5. Anchor heavy objects that may float away such as fuel tanks.
6. Avoid driving in storm conditions-
   If you must drive, avoid flooded streets, fallen wires and falling trees.
7. Stay informed of weather conditions- tune into the following websites
   www.nhc.noaa.gov or www.weather.com for current conditions.

Despite the forecasted weather, we wish you all a wonderful and safe Labor Day weekend.

 Your Friends at Mackoul & Associates

* Please note that our offices will close at 1pm tomorrow in observance of the holiday.

Habitat Magazine’s June issue includes an article on the new EPA rule surrounding lead paint entitled, “Licensed to Paint.”  Click the link below to view the June Issue of Habitat Magazine, as well as hear comments on this article and the insurance implications entailed from Mackoul & Associates’ President, Edward J. Mackoul.
(Click Here For June Issue of Habitat)

Come see us at the New Jersey Cooperator’s Condo, HOA and Coop Expo.  Details Below:

Date: Wednesday, May 5th

Time:  11:30 am to 7:30 pm

Place: Meadowlands Exposition Center-
Click link for directions: http://nj-expo.com/location.aspx
355 Plaza Drive  |  Secaucus, NJ 07094

REGISTER HERE:  http://nj-expo.com/Register.aspx

Mackoul & Associates will be located at booth 421.  We look forward to seeing you there!

Mackoul & Associates invites you to join us at The Cooperator’s 23rd Annual Coop and Condo Expo.

Details Below:
The Cooperator’s 23rd Annual Coop and Condo Expo
Tuesday, April 27th
9am to 5pm
Register Now: http://www.coopexpo.com/Register.aspx

The Hilton New York
Rhinelander Gallery, Americas Halls 1 & 2
1335 Avenue of the Americas (& 53rd Street)
Booth 1118, Second Floor

Our own Edward J. Mackoul will be at the advice booth from 1pm until 2pm.

We hope to see you there!

President Edward J. Mackoul was quoted in the February issue of Habitat Magazine in the article titled, “How To Enable Sales & Refi’s,” by Bill Morris.  In this article, Mr. Mackoul comments on the compromised position faced by boards of coops and condos because of stringent requirements demanded by Fannie Mae.

Especially since the global recession, Fannie Mae has become increasingly strict on enforcing insurance guidelines on buildings that many baords are struggling to meet.  Of special concern are the strict ratings standards that a building’s insurance carriers must meet from one of three ratings agencies.  As stated by Mr. Mackoul, “Some buildings have had to switch insurance carriers and they’ve been hit with major premium increases in order to get coverage with a new [Fannie Mae approved] carrier.  As we wait for Fannie Mae to consider changing their guidelines, Mr. Mackoul says, “we are getting calls from Managing Agents saying buyers can’t get loans and shareholders can’t refinance.”

Read Article: http://www.mackoul.com/page.asp?pageID=12

The EPA (Environmental Protection Agency) is enforcing new guidelines requiring, “lead safe work practices to reduce exposure of lead hazards created by renovation, repair and painting (RRP) activities that disturb lead-based paint in target housing and child-occupied housing facilities.” 

Click link for RRP Regulations- www.epa.gov/lead/pubs/renovation.htm

Click link for ABC News Coverage of RRP Regulations- http://abcnews.go.com/Business/wireStory?id=10438913

On Thursday, April 15th, Congress voted to restore jobless benefits for hundreds of thousands of Americans who had lost them during a partisan standoff in the Senate over spending (Insurance Journal).

This bill also reauthorizes the federal flood insurance program until the end of May and restores federal COBRA health insurance subsidies.

http://www.insurancejournal.com/news/national/2010/04/15/109055.htm

http://bucks.blogs.nytimes.com/2010/04/19/flood-insurance-program-is-back-for-now/

Since we are sponsoring the April digital issue of Habitat Magazine, we thought we would give you the opportunity to take a look.

Click here for commentary from our own Edward J. Mackoul and for the April Issue of Habitat Magazine.

Of particular interest is the article on Chargebacks by Frank Lovece.  As a professional advisor on this topic, Mr. Mackoul would be happy to answer any questions on the topic.  Read the article on page 22, and call Ed Mackoul with questions at (516) 9100.

The National Flood Insurance Program (NFIP) expired Sunday March 28th, 2010.  Congress adjourned until April 12 after failing to agree on an unemployment benefits bill that included a provision with an extension of the National Flood Insurance Program. 

The National Flood Insurance Program (NFIP) is currently on schedule to expire on March 28th, 2010.  The Senate has already voted to extend the NFIP until the end of the year, while the House has agreed to extend it just one more month, until the end of April 2010.  The Senate, who has been preoccupied with Health Care Legislation, must vote to adopt the House measure or the NFIP will expire Sunday night. 

We will keep you posted with any updates, but if you have any questions we are always here to help.

Please call with any questions: Edward J. Mackoul, CIC President- Mackoul & Associates, Inc. ejmackoul@mackoul.com Toll Free: (866) Mackoul