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Home Improvements That Payoff

2/20/2020

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How to remodel your way to a bigger return on your biggest investment. Learn how by reading the full Medium article here.

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4 Home Upgrades That Are Good for the Environment

12/5/2019

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Consumers today are more mindful about the environmental impact of everything they do, from driving and traveling to energy usage in their homes. Fortunately, there are a few simple steps homeowners can take to save energy and help the environment.


(BPT) - Consumers today are more mindful about the environmental impact of everything they do, from driving and traveling to energy usage in their homes. Fortunately, there are a few simple steps homeowners can take to save energy and help the environment.

1. Boost your insulation

You may already know what areas of your home are poorly insulated, simply by how you feel when it’s cold or hot outside. You can have a professional home energy audit conducted to help pinpoint areas that need improvement. Many energy companies provide an audit free of charge.

Start with the attic: If your attic is insufficiently insulated, you could be losing a lot of heat over the winter, which means your home is wasting energy — and money. The U.S. Department of Energy reports that boosting attic insulation can save 10-50 percent on heating costs.

2. Upgrade your heating and cooling system

Heating and cooling your home uses the most energy, so investing in Energy Star certified HVAC products can make a big difference when it comes to cutting energy costs and your home's impact on the environment.

For a new HVAC system in a variety of styles to fit any décor that can be easily installed by a contractor, you might consider wall-mounted duct-free systems from a trusted brand like LG. They offer a variety of ultra-quiet "Art Cool" options (the sleek Mirror, stylish Premier and unique Gallery, which looks like a picture frame and allows you to display your own artwork). These systems are smart-enabled, allowing homeowners to adjust the temperature from their LG ThinQ app for Android and iOS users, or with simple commands via Google Assistant and Amazon Alexa.

The most eco-conscious consumers will want to look for "Energy Star Most Efficient" HVAC solutions. For example, the Art Cool Mirror earned the 2019 designation and also features advanced "Reliable to Extreme Degrees" LGRED, heating technology that delivers 100 percent heating capacity down to 5 degrees Fahrenheit and continuous heating down to -13 degrees Fahrenheit. This will keep you warm and comfortable all winter long with remarkable energy efficiency.

3. Replace doors and windows

You may be losing a lot of heat in the winter and air conditioning in the summer through your doors and windows, especially if they're older. The latest energy-efficient models of windows and doors not only reduce leaks around the frames, but they're made from materials that enhance insulation.

Doors: According to EnergyStar.gov, energy-efficient doors not only fit better and have improved weather stripping to reduce air leakage, but also use improved core materials for superior insulation. Where glass is used, they reduce heat flow via double- or triple-paned insulating glass.

Windows: Energy Star qualified windows use superior framing materials, including multiple panes of glass, with air- or gas-filled space between for additional insulation. They're made from Low-E (low emissivity) glass, with special coatings to reflect infrared light. Warm edge spacers keep the glass panes the correct distance apart reducing heat transfer through the window.

4. Go solar

While most people are aware that solar power harnesses the sun’s energy to create electricity, many don't know how easy and cost-effective it is to go solar.

The newest technology behind solar energy has made it increasingly accessible and appealing for homeowners. For example, new energy solutions such as LG’s "NeON R ACe" are high-efficiency solar panels that incorporate a built-in micro-inverter (that converts DC electricity to AC) instead of a separate traditional inverter. Recessed into the frame of the solar module, the micro-inverter simplifies the installation process and allows more flexibility to create a solar array that looks attractive on your roof. When going solar, it’s important to seek out a brand you trust, one like LG that offers solar panels covered by a 25-year limited product, part and performance warranty.

Choosing just one area to upgrade will save energy, reducing your home's carbon footprint. You'll also feel more comfortable throughout the year, as you better regulate the temperature of your home.


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Home Improvements with High ROI

7/12/2018

 
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Home Improvements with High ROI

If the ultimate goal of your home improvement project is aesthetic, the greatest benefit may come from your personal enjoyment of the new space. However, if you’re looking to add true value to your home, it’s important to consider which projects are likely to bring the greatest return on your investment.


Home Improvements with High ROI

(Family Features) If the ultimate goal of your home improvement project is aesthetic, the greatest benefit may come from your personal enjoyment of the new space. However, if you’re looking to add true value to your home, it’s important to consider which projects are likely to bring the greatest return on your investment.

Flooring
Much like hands reveal a person’s true age, flooring speaks volumes about a home. Replacing and updating worn floors can instantly add value. A timeless selection like wood flooring, particularly in heavy traffic areas, is durable enough to withstand wear and complements a wide range of interior designs. If you already have wood floors that are in reasonably good condition, whether in use or under carpet, go ahead and refinish them for a budget-friendly alternative to installing new flooring. Another option that holds or even increases the value of your investment is tile, particularly in spaces like kitchens, bathrooms and laundry areas.

Roofing
Re-roofing a home gives it an instant value boost, but it’s a job that needs to be repeated periodically. One longer-term and on-trend alternative to traditional roofing is metal. Performance is the big selling point for metal roofs, but not only does the roof itself increase the home’s value, the safety benefits and peace of mind that come with knowing strong, fire-resistant metal roofs can last forever only add to the benefits.

With a variety of styles available, you can find a metal roof to match nearly any home style. For example, CertainTeed Metal Roofing offers profiles crafted to simulate Spanish barrel tile, slate and wood shake. Made from high-performance, deep-drawn steel, these roofing systems offer a lifetime-limited warranty and are engineered with a special multi-layered paint process that resists the elements while offering realistic color details and gradations. Find inspiration and explore a design gallery at CertainTeed.com.

Landscaping
Curb appeal often counts for a lot, whether it’s for your own enjoyment or a potential future buyer. Enhancing your home’s exterior can pay off handsomely when you add vegetation and hardscaping that improve the overall aesthetic. Keep in mind that more unconventional styles are better reserved for private spaces like the backyard; for the street view, stick to a motif with broad appeal to garner the strongest return on your investment.

Entryway
An outdated entry point isn’t just an eyesore; it can pose a security risk and even be the source of significant energy loss for your home. Replacing front doors and even garage doors can both bring a return on your investment and potentially start saving you money right away on heating and cooling costs. A new, properly installed entry door is likely to fit more snugly and allow for fewer air leaks. In addition, a heavier door and frame is more likely to stand up against forced entry.

Insulation
It may not be glamorous, or even anything that you’ll see on a regular basis, but many experts agree that upgrading your insulation is a sound investment. In addition to adding value in terms of comfort and reduced energy costs, it’s an attractive selling point should you choose to list your home.

If you’re still uncertain about the right investments for your home, it may be wise to consult a local real estate expert who can provide insight on the features that bring the most value in your market.

SOURCE:
CertainTeed

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5 tips for financing your next home improvement project

7/11/2018

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5 tips for financing your next home improvement project

To help homeowners with their renovation projects, Marcus by Goldman Sachs(R) is sharing budget-friendly home renovation tips. There are several ways to finance larger projects and it’s important to explore your options to find the one that’s right for you. This article contains five important tips to keep in mind when deciding how to fund your next home project.



(BPT) - Whether it’s transforming a fixer-upper into your dream home or just giving a makeover to your kitchen or bathroom, home improvement projects are on the minds of many new homeowners across the country.

While many things about renovating your home are flexible, your budget might not be. In general, not a single floor board is laid, or a new countertop installed without money, which is why every home renovation project should begin with careful financial planning.

To help homeowners with their renovation projects, Marcus by Goldman Sachs(R) is sharing budget-friendly home renovation tips.

There are several ways to finance larger projects and it’s important to explore your options to find the one that’s right for you. Below are five important tips to keep in mind when deciding how to fund your next home project.

1. Shop around. The better you plan, the better chance you’ll save money. Before anything gets torn out or installed, you should spend time consulting with contractors and getting estimates. Look at the work they’ve done to see if they would be a good fit. Most importantly, don’t be afraid to ask a lot of questions to make sure you’re working with the right people and paying the right price.

2. Consider financing options. There are several options when financing a home improvement project and it is important to choose the right fit for you. Home equity loans and home equity lines of credit (HELOC) require you to borrow against the value of your home, with home equity loans offering a lump sum while home equity lines of credit provide you with a credit line you can borrow against. An unsecured home improvement loan can be used based on your creditworthiness and ability to pay, not tied to a piece of collateral.

3. Create a budget. Because of the nature of remodels, things often end up costing more than you might think. No matter how big or how small the project, you need to have a solid sense of what your “all in” budget number is. This should not only account for hard and soft costs for things like labor, materials and designers, it should also account for contingency costs. Experts typically recommend budgeting an additional 15 to 20 percent for unexpected scenarios that might arise. A thoughtful budget will help keep your priorities in front of you and prevent you from spending more than you want.

4. Remember, this is an investment! Not all home renovations will pay off in the long term. It’s important to consider cost vs. value before you start making changes, especially for homeowners looking to sell in the near future. If you plan on putting your house on the market sooner rather than later, be sure to keep track of the top home features to get the best return on your investment.

5. Work with a designer.
This might sound like a luxury or an added expense, but in many cases, a designer could actually help save money by finding deals or providing suggestions for less expensive alternatives, such as using quartz or white concrete instead of marble. Above all, their expertise can help avoid costly mistakes that can often arise when people try to cut corners on their own.

With these tips, you should be better prepared to finance your home improvement project. When you’re ready to start, you shouldn’t have to wait weeks for a home appraisal to get your renovation project underway. You could see your home improvement loan options from Marcus by Goldman Sachs in as little as five minutes and once approved, most people see the funds in their bank accounts in as little as four days. With Marcus you could be one step closer to your dream home.


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Energy Savers that Make ‘Cents’

7/11/2018

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A home that operates efficiently isn’t just better for the environment. Ensuring your home systems are as efficient as possible can also help reduce the financial burden of maintaining your home throughout the year. These tips can serve as areas of focus for lowering your energy bills and lessening your appliances’ negative impact on the environment.


Energy Savers that Make ‘Cents’

(Family Features) A home that operates efficiently isn’t just better for the environment. Ensuring your home systems are as efficient as possible can also help reduce the financial burden of maintaining your home throughout the year.

These tips from Gary White with JCPenney Home Services can serve as areas of focus for lowering your energy bills and lessening your appliances’ negative impact on the environment.

Water Heaters

The cost of heating water for bathing, laundry and kitchen use is a common home energy drain, so it’s an area that deserves attention when you’re looking to upgrade for efficiency. To reduce energy use from your hot water heater, try taking shorter showers and switching to cold water for some washing machine wash and rinse cycles. Other options include turning down the thermostat on your heater, adding insulation or purchasing a newer, more efficient model.

Heating and Cooling

According to the U.S. Department of Energy, as much as 40 percent of a home’s energy expenses come from the heating, ventilation and air conditioning (HVAC) system, also known as the heating and cooling system. Like appliances and other mechanical features of your home, over time, the heating and cooling system becomes less efficient. Regular seasonal service like appropriately changing out the air filter can help ensure your system performs at its best, but once its life expectancy has passed, a new unit is usually the more cost-effective solution in the long run.

Understanding your options is important because these systems represent a meaningful investment. There are a lot of potentially overwhelming options and you want to be sure you get the right system for your home. A consultation with an expert, such as those you can find at JCPenney Home Services, can help you determine the proper size and functions necessary to effectively manage your home’s climate, as well as assist in exploring the latest technologies and products. For example, heat pumps, which were once reserved for more moderate climates, are now a cost-efficient solution for homes where temperatures dip lower.

Another option that is relatively new but growing in popularity is known as a mini-split system. These systems let you customize the temperature settings in various spaces, enhancing personal comfort and allowing you to focus your energy use on the parts of your home that need it most. Learn more about these and other energy-efficient heating and cooling solutions at jcpenneyhomeservices.com.

Thermostats

While servicing or replacing an HVAC system may be the obvious change when it comes to conserving energy, you can also see reductions by using an upgraded thermostat, such as a “smart” or connected model. These devices can help you monitor the temperature setting in your home while maximizing efficiency. For example, a connected thermostat that’s synced to your smartphone may allow you to adjust temperature settings when away from home. This way, if you forget to bump the air conditioner up a few degrees while you’re gone more than a few hours, you can log-in remotely and set an appropriate temperature.

Weatherproofing

A great deal of energy is lost through cracks, holes and faulty seals. Take time to assess all windows, doors and openings for air leaks, adding caulking or weather stripping where needed. Don’t overlook culprits like openings around lighting and plumbing fixtures, switch plates and other electrical elements. Also assess potential losses from the fireplace, attic, garage and crawl spaces, where it’s common that less attention is given to thorough sealing, and determine whether additional insulation can help contain energy.

Take Control of Your Climate

Managing your home’s climate control is typically no small task or small expense. These options offer flexibility and efficiency.

Heat pumps pull from the ground or outside air temperature to both heat your home in the winter and cool it in the summer. Since heat pumps move heat instead of generating it, they’re energy-efficient year-round.

Hybrid systems or combination systems combine elements of both a furnace and heat pump. The more efficient heat pump runs until the outside air temperature falls below a certain level, at which point the system automatically switches the heat source to the furnace. This option is more expensive up front, but can generate significant savings in terms of monthly utility bills long-term.

Ductless systems are a flexible, efficient choice for homeowners looking for simple solutions. These systems can be easily mounted on the wall or ceiling, and don’t require ductwork, making them ideal for a converted attic space or room addition.

Understanding HVAC Efficiency Ratings

An HVAC system can be rated in a number of different ways. While some of these ratings may be confusing, it is helpful to understand what they mean.

AFUE: An Annual Fuel Utilization Efficiency (AFUE) rating is important if you are purchasing an oil or gas furnace. The AFUE rating measures the amount of fuel used to heat your home against the amount of fuel wasted. A higher rating indicates a more efficient system. The more efficient your system, the less fuel it takes to heat your home, which translates into lower heating bills during the winter.

SEER: The higher the Seasonal Energy Efficiency Ratio (SEER), the more efficient your system and the less it will cost to heat and cool your home. Federal regulations require all new HVAC systems to have a SEER rating of 13 or higher.

HSPF: The Heating Seasonal Performance Factor (HSPF) measures the efficiency of a heat pump when it is used to heat a home. A higher rating indicates greater efficiency and greater monthly savings on energy bills. New HVAC units are required to have a rating of 7.7 or higher.

Photo courtesy of Getty Images (Large house)

SOURCE:
JCPenney Home Services

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Don't suffer high energy bills any longer

7/8/2018

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3 areas to insulate that will save you money on energy bills

Ending your suffering from high energy bills can be as easy as tackling a few, simple, do-it-yourself insulation projects. Key areas to insulate are your home’s attic, basement, crawl space and garage. Read on for tips on insulating these spaces to improve your home’s energy efficiency and comfort, while putting money back in your pocket.



3 areas to insulate that will save you money on energy bills

(BPT) - Do you cringe each month when your utility bills arrive?

The annual energy cost for a typical single family home in the U.S. is more than $2,000, according to the U.S. Department of Energy. If you can think of a thousand things you’d rather spend your hard-earned money on than electricity and natural gas, the solution to saving on energy costs is easier than you think.

While you might assume the numerous electronic gadgets you own drive your high utility bills, the real cost culprits are your furnace and air conditioner. Space heating and cooling account for 42 percent of home energy costs — double what the typical home spends running its electronics and small appliances.

What’s truly unfortunate is much of the money spent on heating and cooling homes is wasted, as heat leaks out of your home in winter and comes in during the summer. The reason? About 90 percent of U.S. homes are under-insulated, according to the North American Insulation Manufacturers Association.

Ending your suffering from high energy bills can be as easy as tackling a few, simple, do-it-yourself insulation projects. Key areas to insulate are your home’s attic, basement, crawl space and garage. Read on for tips on insulating these spaces to improve your home’s energy efficiency and comfort, while putting money back in your pocket.

1. Attic


As heat rises and many attics are un-insulated or poorly insulated, the attic is a good place to start for making your home more cozy and cost-effective. Insulating your attic is “a DIY project you can tackle in a weekend, and the savings you'll get add up every year," said Tom Silva, general contractor for the popular “This Old House” TV show.

Many contractors and homeowners use loose-fill insulation or fiberglass batts in attics. Although these materials are easy to work with, it is difficult to ensure they do not leave gaps through which heat can escape. And, since they are designed to fit between the joists in the attic floor, they leave the joists un-insulated, which provides many places for heat to transfer from the home into the attic.

An alternative that is also easy to work with, and that provides continuous insulation, is rigid foam panels. Among the rigid foams, expanded polystyrene (EPS) provides the highest insulating power per dollar. EPS panels are simple to cut to size, without creating mess, are recyclable and can be installed throughout your home. One of the EPS brands available at home improvement stores is Insulfoam R-Tech insulation.

2. Basement and crawl space


In addition to insulating your attic, it’s important to make sure the bottom part of your home is energy-efficient. For most of the U.S. other than the hot Gulf Coast region, “it’s cost-effective and wise to install basement wall insulation,” wrote Martin Holladay on his “Musings of an Energy Nerd” blog. As in the attic, rigid foam insulation boards can readily be cut to size and installed on basement walls. While insulation can be applied to the inside or outside of a basement wall, for existing homes it is typically much easier to install it on the inside wall. This avoids having to move dirt away from the foundation and back-fill once the insulation is in place.

While you’re insulating your basement, be sure to also insulate any crawlspaces, including both the walls and ceiling of these areas.

3. Garage door


“Garage doors notoriously are un-insulated,” said David Stassi, field technical support manager at Insulfoam. “Fortunately, readily available DIY insulation kits allow homeowners to insulate their garage door in less than an hour, for less than $100.” Even a beginning DIYer can do the job, as you simply cut the insulation panels to size with a knife and straightedge, and flex the panels into place between the garage door’s horizontal rails. The panels remain firmly in place without messy glues or awkward tape.

For step-by-step instructions on installing garage door insulation or EPS insulation in basements, crawl spaces and attics, visit the Insulfoam YouTube channel.

With a few simple DIY insulation projects, you can save hundreds of dollars every year. Instead of spending too much on heating and cooling, you’ll have extra money for fun things like eating dinner out or taking a well-deserved vacation.


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3 ways to quickly and economically save big bucks on home heating and cooling costs

6/19/2017

 
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(BPT) - What would you rather do: Pay your utility bill or take a much-deserved vacation? With an endless stream of bills each month, you might wonder where you can find the money to jet off to the beach or mountain resort of your dreams. There is a solution.

The average U.S. household spends more than $2,200 yearly on energy bills, with about half of that for heating and cooling, according to the U.S. Department of Energy (DOE). As a large portion of that energy is wasted, making your home more energy efficient will pay big dividends.

With only a couple weekends of work, these three simple low-cost DIY projects can significantly reduce your home cooling costs, freeing up money year after year so you can take vacations or do other fun activities. Best of all, the three actions work together to not only reduce your utility bills, but to make your home more comfortable year-round.

1. Add insulation

Chances are your home lacks sufficient insulation, despite when it was built. Some 90 percent of U.S. homes are under-insulated, reports the North American Insulation Manufacturers Association (NAIMA). Fortunately, adding insulation is simple, with products readily available at your local home improvement store.

One of the most cost-effective and easiest types of insulation to work with is expanded polystyrene (EPS) rigid foam boards. EPS panels are simple to cut to size without creating a mess, are recyclable and can be installed throughout your home, including in walls, floors, ceilings and foundation walls. A similar material, graphite polystyrene (GPS), also is easy to work with, and provides even higher insulating power, according to manufacturers. One of the EPS and GPS brands available at home improvement stores such as Home Depot and Lowe’s is R-Tech insulation from Insulfoam. “R-Tech EPS and GPS insulations offer some of the highest insulating power per dollar,” says Michael McAuley, Insulfoam general manager.

2. Seal air leaks

While inadequate insulation allows heat to pass out of your home in winter or to come in during summer, another path for energy loss is air leaks. Insulating your home and sealing air leaks can save you up to 20 percent on home heating and cooling costs, notes the DOE. Common places to look for leaks include attic access hatches, around windows and doors and in crawl spaces. Readily available weather stripping, caulks and spray foams can help keep your home airtight. For step-by-step instructions, consult the U.S. Environmental Protection Agency’s “DIY Guide to Sealing and Insulating with ENERGY STAR."

3. Install a programmable thermostat


With your newly insulated and sealed home, a third step you can take to cut energy bills is to install a programmable thermostat. The DOE estimates you can save as much as 10 percent a year on heating and cooling costs by simply turning your thermostat back 7-10 degrees for 8 hours a day. In the summer, keep your house warmer than normal when you are away, and set the thermostat to 78 degrees when you are at home and need cooling. Set your thermostat at as high a temperature as comfortably possible. The smaller the difference between the indoor and outdoor temperatures, the lower your overall cooling bill will be.

These three utility bill-busting tips are within the skill set of many homeowners, but if you want a little extra help, hiring a contractor is also cost effective, as these are not large projects.


Budgeting basics for first-time home buyers

9/1/2016

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(BPT) - Sponsored Ad content from Vanderbilt Mortgage and Finance, Inc.

You wouldn't dream of going somewhere you've never been before without first getting directions. So, why would you go through life without a plan to help meet your financial goals?

"An ongoing household budget is essential, whether it's helping you save for retirement or buy your first house," says Eric Hamilton, president of Vanderbilt Mortgage and Finance. "A budget can help you avoid common mistakes along the way by helping you live within your means while planning for the future."

If you've never had a budget before, you may be unsure how to begin. Building a budget can be easy as long as you follow a few simple steps:

* Establish your financial goals. Do you want to be debt free? Buy a new home? Build an emergency fund? Save for retirement? Setting financial goals can help guide the budgeting process.

* Determine your total monthly household income. This should include net income (the final amount of take-home pay after all taxes and deductions) for every working member of the household, including any government aid received, child support, alimony, pensions, etc. Knowing the total income gives you a starting point for your budget.

* Calculate your monthly expenses. It may be helpful to break expenses into categories, such as home, utilities, long term debt, medical, auto, groceries and personal. Personal can include items like clothing, entertainment, dining out, etc. It is helpful to review your cash spending, bank statements and receipts over the past few months to give you a better idea of your spending habits. Check with your bank for tools offered, such as online banking or a mobile app to track of spending on the go.

* Identify where you can reduce spending. After you've assessed your spending habits, you might be surprised to find areas where you can cut back. Small changes in your lifestyle can make a big difference to your budget. For example, instead of buying lunch every day, you could take your lunch to work or school.

* Less spending means saving more money. Be sure to set aside these new freed-up funds and allocate them toward your goals. If you're trying to save for a new home or down payment, view your personal savings as a must-pay fund that's as important as your rent or car payment.

* Periodically reassess your budget. Life is full of changes, such as fluctuations in income and shifting priorities. It's important to go back over your budget from time to time to help ensure you are on track to achieve your financial goals.
Determine if you are financially ready to support a new monthly mortgage payment with Vanderbilt Mortgage and Finance's budget worksheet. Download a copy at www.vmfhomeloan.com.

Vanderbilt Mortgage and Finance, Inc., 500 Alcoa Trail, Maryville, TN 37804, 865-380-3000, NMLS #1561, (http://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Loans made or arranged pursuant to a California Finance Lenders Law license, GA Residential Mortgage (Lic. #6911), Illinois Residential Mortgage Licensee, Licensed by the NH Banking Department, MT Lic. #1561, Licensed by PA Dept. of Banking.



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