Archive for January, 2008
See it for yourself…
Posted by admin under: Main Jan 30I wrote about the Saturday night Mayor’s forum on Sunday. Yesterday we all read the article in the paper.
Now we can all see it for ourselves. Here is the video of Mayoral Candidate Bill Nugent. The video only includes Bill talking so you won’t see the other candidates speak.
I’m sharing this here but I am not making endorsements, implied, expressed, or otherwise. The whole town seems to be buzzing about some of the comments from Saturday night so here is a chance for anyone who couldn’t make it to the forum to see and hear what was said.
I found the video at youtube.com… enjoy.
Source: See it for yourself…
FBI Launches Mortgage Probe
Posted by admin under: Main Jan 30The FBI said today that it is investigating 14 companies for their role in the subprime crisis, looking at issues such as insider trading, accounting fraud, and the securitization of loans, the Associated Press reported.
The agency didn’t mention the companies by name, but said they include mortgage lenders, mortgage brokers, and Wall Street investment banks who packaged the loans into securities.
“On insider trading, we’re looking in some cases at whether executives were aware that the value of their holdings would be going down and the executives traded on that information,” Neil Power, chief of the FBI economic crimes unit, told CNN.
“On accounting fraud, we’re looking at housing developers who may have reported cash reserve accounts to reflect falsely inflated values,” he said.
From those statements, it’s clear that the FBI has launched a sweeping investigation of the entire industry, likely because fraud has risen significantly in recent years.
According to FBI officials, the bureau has 1,210 mortgage fraud cases under investigation, an increase of 50 percent over the last 12 months.
And that number will surely climb based on the number of so-called suspicious activity reports filed by banks and lenders.
The number of “SARs” documented by the FBI has increased from 35,000 in 2006 to 48,000 last year, and is expected to reach 60,000 in 2008.
Power ascribed the increase in related cases to “to good old-fashioned greed.”
The FBI said it only investigates cases involving losses of $500,000 or more, noting that 56 percent of all cases last year had losses of more than $1 million.
Sharon Ormsby, the financial crimes section chief in the FBI’s criminal investigative division, said, “We have observed that subprime loans are decreasing, but the suspicious activity reports we see…have noted that suspicions of mortgage fraud are increasing,”
“We anticipate in [2008] that another wave of adjustable rate mortgages will reset, and with that we anticipate the mortgage corporate fraud potential cases to increase based on our belief of potential accounting fraud, insider trading and other issues.”
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Source: FBI Launches Mortgage Probe
Crystal Lake Community Defies Trend with 72 Luxury Home Sales during 2007
Posted by admin under: Main Jan 30
For those thinking that 2007 was a down year for real estate in Henry County, Crystal Lake Golf & Country Club has a different message: “It definitely wasn’t a down year for us”. Sharon Patterson, the broker for Crystal Lake Realty LLC, which is handling sales in the community, said that according to data released recently by SmartNumbers, Crystal Lake Golf & Country Club had 72 home sales in 2007, more than twice the number reported for its closest competitor in the $295,000 and up price range.
Developed by Lake Erma LLC, the 750-acre gated, luxury home community, which is located on North Mt. Carmel Road in the Hampton area, offers an 18-hole golf course, 80-acre lake and a swim/tennis/playground amenity area with a covered pavilion for residents’ use. The seven custom builders active in the community have model homes available for prospective buyers and market homes for those buyers who need a home right away. With the current price range from $308,000 to $1,650,000, the selection is there for most prospective buyers looking for a luxury home. The development’s premier custom builder team is composed of Black Hawk Builders, Collins Communities Inc., Hunter Homes & Properties Inc., Loran Conner Inc., Next Generation, Oxford Custom Homes LLC, and RHB Inc. This family-oriented community has interior, golf and lake homesites, many of which will accommodate a basement. Some of the standard features of the homes include granite counters and vanities, stainless appliances, hardwood floors, security systems, full sprinkler systems, wrought iron railings, and three-car garages. The most popular plans have two master suites.
Crystal Lake is located just two miles west of Exit 221 of I-75 and is less than a mile from the Dutchtown schools. It is a short distance from Henry Towne Center, the area’s newest shopping center. For more information on Crystal Lake call or visit the sales center by the main entrance on North Mt. Carmel Rd. or visit the community’s website at www.crystallakecommunity.com. The sales center, where the phone number is 770-957-0080, is open seven days a week.
Source: Crystal Lake Community Defies Trend with 72 Luxury Home Sales during 2007
Credit Card Debt - A Plan to Downsize It
Posted by admin under: Main Jan 30When it comes to making money, or spending it, you should know how you’re doing, whether you’re financially safe and sound. To put it bluntly: Are you where you’re supposed to be?
What you need to answer that question is a rock-solid gauge, a guidepost to measure your financial status. As it happens, that gauge already exists. It’s called the debt to income ratio. This number shows what percentage of your monthly income goes towards paying various debts. The higher the percentage, the worse you’re doing. Ideally, experts say, your monthly debt should not excced 36% of your income.
But it’s harder to stay at that 36% level than you might think. Everywhere people keep spending more and more. While the national savings rate has hovered around zero for years, consumer debt has soared by 24% since 2002, according to the Federal Reserve. How did we get into this situation? An overriding reason is the economy. Economic growth has slowed. Employers are cutting benefits and wage growth has essentially been flat.
At the same time, it’s as easy to get credit as it is to consume calories. Last year, the typical household received 68 credit card offers, 46% more than 1998. Today, US households can tap into an average of $26,317 in credit, or more than half of the typical family’s income.
And tap we do. The average US household has amassed around $9,900 in credit card balances. People feel that they should be able to afford all these things because everyone else does, and it’s almost humiliating not to be able to.
Having some debt is inevitable, even desirable. Few people can afford to buy a house without taking out a mortgage, and almost no one qualifies for a mortgage, or most other loans, without having a credit history that shows how quickly and successfully they’ve handled previous debt. But what debt makes sense, and what should you be paying off as fast as you can? Here are some guidelines.
Your house. The old rule is that you shouldn’t spend more than 2 1/2 times your income on a house. The reality is we’re spending more and putting down less. The problem snowballs when we start tapping equity. What you should do: Try to keep your fixed housing expenses, monthly mortgage payment, insurance and property taxes, but not repairs and maintenance, at 28% or less of your gross monthly income.
Cards and car loans. Many financial planners say you should have no credit card debt at all. Do not take out car loans for longer than three years. Longer than that and the car usually has little or no value after you’ve paid it off. You should only lease if you can write it off as a business expense. If you can’t, don’t despair. If your consumer debt payments, including a car loan, are less than 10% of your gross pay, you’re still in great shape.
Other ways to control debt
Pay more than required. If possible, try to at least double the payment. Also, never pay late if you can help it. When you pay late, your card company can and will increase your interest rate. You could go from zero interest to 28%.
Pay off consumer debt - then invest. People sometimes make the mistake of investing regularly in mutual funds instead of paying off their credit card debt first. But they need to shift priorities. The funds you invest in may generate 10%, but for most people that still less than their credit card interest.
Refinance. With the Fed cutting rates, it may make sense to refinance your mortgage. That way you can free up more cash to pay down your credit cards. If you have a lot of equity in your house, consider consolidating your debt with a home equity loan. But take care not to run up your cards again, a temptation you may have with all of that fresh credit you’ll suddenly have available to you.
Start an emergency fund. In an ideal world, you’d have about six months of living expenses,( whatever you need to keep yourself sheltered, clothed, and fed), in savings. At a minimum, try building a stash of $500 to $2000. That won’t protect you from job loss, but it will keep you from using your credit card for emergency expenses like a flat tire.
Don’t spend your tax refund. If you get a refund this year, use some of it to start your emergency fund, then put the rest toward your debt.
if you’re considering debt consolidation to relieve your financial stress and mounting bills then make sure to visit http://il-credit-consolidation.com , a popular credit card debt relief site that provides credit repair tips, credit counseling advice and free debt consolidation advice.
Original here
Source: Credit Card Debt - A Plan to Downsize It
The Scoop About College Student Loans
Posted by admin under: Main Jan 30College student loans are three ordinary words, which have the unique ability to strike worry and confusion into the minds of parents and students from all over the world. Fear not; with some careful planning and a little investigation, you will be well on your way to effectively funding your upcoming college journey.
College student loans seem overwhelmingly intimidating to the potential college freshman. But by the time you are a sophomore, these meandering financial paths will seem old hat to you, and merely tedious.
College student loans come with various keywords such as interest rates, consolidation, Sallie Mae, Citibank, and FAFSA. Although FAFSA is not a student loan, it is indeed the place to start when seeking a college student loan, since most times it is necessary before you go any further.
FAFSA (otherwise know as free application for student aid) is a federally funded program that will seek out what grants and scholarships you might qualify for, before you can look into any loans at all. The money will be disbursed directly to the school you plan to attend, with any leftover funds paid directly to you by check from the college. Or you can choose to send the money back to the loan as prepayment. You can download and apply for FAFSA by going to http://www.fafsaonline.com and it is entirely free of charge.
College student loans can be sought through Sallie Mae (and its subsidiary Nellie Mae), Citibank, The Stafford Federal Loan, Perkins (which is a low five percent interest loan for students funded federally and paid back directly to your school) and many private lending institutions. There is also a Plus program where parents can borrow at a low rate to help fund their child’s continuing education. All of these institutions are quite easily accessed online with a few simple strokes on your keyboard.
College student loans can be consolidated in the future to ease the financial burden, by merging them all into one and spreading them over the course of 12 to 30 years. This results in lowering the monthly debt considerably. But college student loans are not able to be consolidated during the time that the student is actually attending school.
I hope you learned something from this brief summary about student loans. They are nothing to fear, and much information about them can be found online. Good luck in your pursuit.
To see more articles about student loans, such as government and alternative student loans, consolidation info, and more, please visit http://www.student-loan-aids.com.
Original here
Source: The Scoop About College Student Loans
Property Prices Continue to Fall
Posted by admin under: Main Jan 30
House price data from the Land registry showed that UK house prices fell on average by 0.4% in December, bringing the annual inflation rate down from 8.1% in November to 6.7% last month.
The land registry estimate that average UK house prices are now £184,469
The only 3 regions to avoid house price falls were the north east, east and London. The biggest house price falls occured in the East Midlands.
Statistics from the Land registry are backed up by data from other major house price surveys. For example, the Halifax index of house prices shows a drop in the annual house price inflation from 12% in July to 6% at the end of 2007.
The prospects for the rest of 2008, are likely to involve further monthly falls.
- Fall in mortgage lending (Council of Mortgage Lenders CML say lending is down 25% in December.
- Fall in confidence
- Credit crunch making mortgages more difficult to obtain and more expensive.
However, with inflation relatively low, there is arguably room for the MPC to cut interest rates. This may prevent demand falling too much. There is even evidence of some housebuyers looking for bargains as prices fall.
Source: Property Prices Continue to Fall
Agent Advisory Board Announced at Kairos
Posted by admin under: Main Jan 29
Kairos Development Corporation has created an advisory board of Atlanta’s best real estate sales agents to provide evaluation, feedback and guidance for Kairos Development’s current residential real estate projects. The seven member board is comprised of top Jenny Pruitt sales agents who specialize in the product, price point, location and lifestyle for Kairos Development’s The Astoria at the Aramore in Buckhead and Avignon at Vinings in Vinings. The board members at Phebe Etheridge, Carrie Faletti, Mary Beth Garrecht, Forde Kay, Diane Schilling, Hugh Shashy and Margie Stockton. The board will be available to the sales, marketing and public relations team for suggestions and direction in sales and marketing efforts for the communities.
Source: Agent Advisory Board Announced at Kairos
Bad Credit Unsecured Loans - Collateral-Free Way For Problems
Posted by admin under: Main Jan 29If there were some incidents that happened in the past and they have left their remnants in your credit history, the most likely thing to happen is the creation of a bad credit history. Even if you need money collateral-free at such a time, there is no need to give in to the situation and be suppressed. Instead you can borrow bad credit unsecured loans for the needs.
People require money for many of their personal needs. The purposes can be varied, like debt consolidation, car purchase, wedding expenses, educational funding, travel expenses, home improvement etc. so the borrower does not have to compromise with any needs in presence of these loans.
The borrowers are not required to pledge any assets with the lenders to get the money. it is completely collateral-free and therefore risk free. The money available in such a state is a smaller sum in the range of ?1000-?25000 for the needs of the borrowers. People can use this amount to fulfill needs and are required to repay the loan amount in a term of 6 months to 10 years.
To get approval for these loans, the borrowers are required to be regularly employed since the last 6months. The residence of the borrower has to be regular since the last 3 months. It is required that there should be a current account in the borrower’s name which is at least 6 months old. The borrower should be an adult national of the UK to get approval for these loans.
Usually rates of interest are higher for these loans due to the bad credit history of the borrower. But with the help of online research and comparison, the borrowers can obtain low rate deals easily. With timely repayment of these loans, the borrowers can also improve their credit history as well.
With so many provisions made by bad credit unsecured loans, the borrowers can now feel much relieved with the chance to improve their finances. Money for their needs can be easily sought now.
Turk Malloy works as financial advisor in Easy Bad Credit Loans. He is offering loan advice for quite some time. To know more about Bad Credit Unsecured Loans, bad credit loans, bad credit personal loans visit http://www.easy-bad-credit-loans.co.uk/
Original here
Source: Bad Credit Unsecured Loans - Collateral-Free Way For Problems
Who Is Your Hero? One Of Mine Just Passed On To The Next Estate
Posted by admin under: Main Jan 29Gordon B Hinckley
As announced in the New York Times:
Gordon B. Hinckley, Mormon Leader, Is Dead at 97
Gordon B. Hinckley, the president and prophet of the Church of Jesus Christ of Latter-day Saints who led Mormonism through a period of global expansion, died Sunday at his home in Salt Lake City. He was 97.
Tom Smart/Associated Press
Gordon B. Hinckley, the president of the Church of Latter-Day Saints, on Jan. 4.
The church, which announced his death on its Web site, said a successor to Mr. Hinckley was not expected to be chosen until after his funeral.
Mr. Hinckley spent 46 years in the church’s top leadership ranks, 12 of those as its 15th president. He was the oldest president in the church’s history.
…………..
President Hinckley was a proponent of all that is good. As an example: In his book, Standing for Something: 10 Neglected Virtues That Will Heal Our Hearts and Homes
Of Standing for Something, President Hinckley said, “I hope to accomplish some good in reaching out to people who may not be interested in our theology but would be interested in our position and stance on some of these values that are of everlasting benefit to this nation and people across the world.”
Some would say we are a nation in crisis. Our leaders are on trial, our teenagers are turning to violence and drugs, and families are splintering around us. Yet, according to Gordon B. Hinckley, president of the Church of Jesus Christ of Latter-day Saints, one cannot lose hope. The solution lies not within our governments, schools, or symbols of popular culture, but rather within ourselves, our families and our faith.
President Hinckley stresses the significance of values such as civility, forgiveness and integrity in our daily lives. Drawing on the lessons of history as well as anecdotes from his own life, he creates a thoughtful and provocative discourse on the state of our society and our responsibility to one another.
At once masterful and illuminating, Standing for Something: 10 Neglected Virtues That Will Heal Our Hearts and Homes is a work for our time, a reflection on one man’s long and productive life. It does not dwell on the values of the past; rather, it provides a moral and spiritual map toward a brighter future.
The Ten Virtues
Love: The Lodestar of Life
“Love is the only force that can erase the differences between people or bridge the chasms of bitterness.”
Where There Is Honesty, Other Virtues Will Follow
“In our day, those found in dishonesty aren’t put to death, but something within them dies. Conscience chokes, character withers, self-respect vanishes, integrity dies. How cheaply some men and women sell their good names!”
Making a Case for Morality
“Both experience and divine wisdom dictate that moral virtue and cleanliness pave the way that leads to strength of character, peace of mind and heart, and happiness in life.”
Our Fading Civility
“Civility carries with it the essence of courtesy, politeness, and consideration of others. All of the education and accomplishments in the world will not count for much unless they are accompanied by marks of gentility, of respect for others, of going the extra mile.”
Learning: “With All Thy Getting Get Understanding”
“No matter how old we become, we can acquire knowledge and use it. We can gather wisdom and profit from it. We can grow and progress and improve-and, in the process, strengthen the lives of those within our circle of influence.”
The Twin Virtues of Forgiveness and Mercy
“Hatred always fails and bitterness always destroys. Are there virtues more in need of application in our day, a time marked by litigious proceedings and heated exchanges, than those of forgiving, forgetting, and extending mercy to those who may have wronged us or let us down?”
Thrift and Industry: Getting Our Houses in Order
“I commend to all the virtues of industry and thrift, which I believe go hand in hand. The labor and thrift of the people make a nation, a community, or a family strong. Work and thrift make the family independent.”
Gratitude: A Sign of Maturity
“Gratitude is the beginning of civility, of decency and goodness, of a recognition that we cannot afford to be arrogant. We should walk with the knowledge that we will need help every step of the way.”
Optimism in the Face of Cynicism
“My plea is that we stop seeking out the storms and enjoy more fully the sunlight. I am suggesting that as we go through life, we ‘accentuate the positive.’ I am asking that we look a little deeper for the good, that we still our voices of insult and sarcasm, that we more generously compliment and endorse virtue and effort.”
Faith: Our Only Hope
“Great buildings were never constructed on uncertain foundations. Great causes were never brought to success by vacillating leaders. Faith has always been, and always must be, at the root of any meaningful practice and endeavor.”
Source: Who Is Your Hero? One Of Mine Just Passed On To The Next Estate
A Specialist Can Find Bad Credit Rating Loans Quickly
Posted by admin under: Main Jan 29A bad credit rating can be gained for many reasons but it does not matter why you got a bad rating when it comes to lenders. All lenders take your credit rating into account when deciding if they will allow you to borrow. If yours is below a certain limit then the chances are they will turn you down. However there are certain types of loans called bad credit rating loans that those with a less than perfect credit rating can be approved for.
If you need to borrow money, then a specialist will be able to quickly find you the cheapest rates of interest based on your circumstances. A bad credit loan usually comes with a higher rate of interest than a personal loan because you are seen as a higher risk. Whatever your circumstances a specialist will find you the best deal possible.
Bad credit rating loans can help those with a bad credit rating rebuild their rating. Providing the repayments on the loan are kept up each month it can go a long way to helping your circumstances improve.
The interest rate you will be charged will depend on the provider, how much you wish to borrow and the state of your credit rating. The majority of bad credit loans are secured loans. This means that you have to put something up as security against the amount you wish to borrow. Your home is usually taken as security and if you should default on it then you are at risk of the lender repossessing. The amount you will be able to borrow up to will be based on how much equity you have in it. This is the amount that is available after you have taken off the outstanding mortgage from the value of the property.
A bad credit loan can be taken out to consolidate your existing loans together. This means that you take all your debts which can be credit cards and loans, combine them then borrow the total amount and payoff your creditors. By taking out a consolidation loan you will be paying just one monthly repayment which is lower and will have just one creditor.
For those individuals who are looking to buy a new or used car then bad credit rating loans enable them to do so. Lenders will sometimes offer an unsecured loan and when borrowing to buy such as a car then this would be your best option. However, when taking out an unsecured loan you will have to pay a higher rate of interest on the loan with having a bad credit rating.
A specialist is able to search with the whole of the marketplace to secure you the cheapest interest rates and along with this they will give you the key facts. You do have to compare these when comparing quotes for bad credit rating loans. They hold vital information regarding aspects of the loan which can make a huge difference. Loans can come with fees such as early repayment fees if you can afford to pay up the loan early and you would be expected to pay this up in one lump sum.
Louis Rix is Director of Netloans Ltd, a leading Secured Loan Broker for UK Homeowners offering homeowner loans and secured loans for any purpose, ensuring that their customers get the best homeowner loan deal.
Original here
Source: A Specialist Can Find Bad Credit Rating Loans Quickly