HELP, Bank Wont Give Mortgage With Coal Heat!!!
-
hank2
- Member
- Posts: 854
- Joined: Sat. Dec. 10, 2011 4:07 pm
- Location: Berks County
- Hand Fed Coal Stove: DS Machine 1400 WH ciculator; 1880's small cannon in reserve
- Coal Size/Type: Nut
- Other Heating: small New Yorker oil fired boiler; mostly used for domestic HW
I failed to take notice that the discussion had to gone to insurance and coal, not mortgage approval. I don't know much about the insurance end of it.
when I bought this house it came with an old piece of junk oil burner converted over to natural gas. I used it one month since lived here and have had no interest in using it since. it just sits there don't even know if it works anymore, but I leave it there because the house has a "conventional" style furnace. its a rusty POS in the basement but there it sits. after discovering just how great coal really is, even if I had the money I still have ZERO interest in installing a natural gas furnace. I love the ads that national fuel puts out, goes something like this "natural gas is your best energy value". OK, whatever. lets look at the charts and see what's cheaper. its about $8.33 per million BTU for anthracite coal, natural gas is somewhere around $14-15 per million BTU, so coal is nearly 1/2 as expensive. best energy value?? just because some utility company says so, does not make it so. I really do believe anthracite is the true best energy value.
as far as the home mortgage goes I believe that they insist upon it simply if you get foreclosed on, they can heat the house to avoid freezing pipes without anyone attending to the property. with my home, its really a mute point because I run on a well. if I left for an extended period of time I could simply drain the plumbing system. at the end of the day they are only covering their butts so you don't pay the mortgage and they kick you out the pipes wont freeze.
as far as the home mortgage goes I believe that they insist upon it simply if you get foreclosed on, they can heat the house to avoid freezing pipes without anyone attending to the property. with my home, its really a mute point because I run on a well. if I left for an extended period of time I could simply drain the plumbing system. at the end of the day they are only covering their butts so you don't pay the mortgage and they kick you out the pipes wont freeze.