Archive for the 'Real Estate News' Category
The Credit markets see gradual improvements
Related Posts: Real Estate News
hiThe government’s efforts to crank open the credit markets have led to some mild improvements in lending rates and Treasury bill yields. But it will probably take months, and perhaps a few years, before lending returns to healthier levels.
It was clear Tuesday that there is still plenty of fear in the lending business – one indicator, the difference between the rate at which banks lend to other banks and the rate at which they buy U.S. government debt remains near a 25-year high. But analysts believe that as long as conditions keep improving, the economy should be able to grow.
The problem is that the health of the economy and the credit markets is intertwined: The health of the economy relies on credit, and the willingness to lend depends on the economic outlook. As a result, the economy’s recovery might be jagged and gradual, as lenders incrementally loosen up as they grow more confident that borrowers are on steadier ground.
And, like an economic recovery, there’s no specific piece of data that will signal that things are significantly better in the credit markets. Rather, investors will need to see prolonged, steady improvement on various fronts – bank-to-bank lending, lending to businesses and consumers, and investment in corporate debt such as commercial paper – to get a sense that credit has returned to a healthier state.
Confidence in the lending business grew a bit Tuesday as the U.S. government said it would spend $250 billion of its $800 bailout plan on buying stock in nine major banks, after European governments announced a similar move Monday to recapitalize their own banks. The actions helped bank-to-bank lending rates tick lower, and bring some optimism back to the stock market.
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McCain would buy bad homeowner mortgages
Related Posts: Credit & Finance, Government, Real Estate News
hiRepublican presidential candidate John McCain is proposing a $300 billion program for the federal government to buy up bad home mortgages and allow homeowners to keep their houses.
McCain said: “Until we stabilize home values in America, we’re never going to start turning around and creating jobs and fixing our economy and we’ve got to get some trust and confidence back to America.”
McCain announced the plan during Tuesday’s debate. He said that as president he would direct the federal government to purchase mortgages directly from homeowners and mortgage providers. The loans would be replaced with fixed-rate mortgages, ostensibly at a loss to the government. This would really effect the Florida Real Estate market in a large positive way.
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“The BailOut Bill” and its Earmarks as of 10-02-08
Related Posts: Credit & Finance, Government, Real Estate News
hiSo if you have the time to read 451 pages HERE’s the link. I wonder how many legistators have actually read it?
Check this out …………..
New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
- Wooden Arrows designed for use by children (Sec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)
Tax earmark “extenders” in the bailout bill.
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)
What the heck do these have to do with the problem at hand?
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CONDO INSURANCE FYI !
Related Posts: Government, Real Estate News, What If Realty News
hiSince 2004, Florida’s Condominium Act has required unit owners to maintain hazard insurance on their units - separate and above the hazard insurance on the common areas paid for by the condo association. HB 601 provides condo associations a way to enforce These insurance standards by requiring unit owners to provide proof of insurance every year. If a unit owner fails to provide a certificate of insurance, the association may purchase insurance on the owner’s behalf and assess the unit owner for the cost of the insurance. This effects all Florida Real Estate. Download it in PDF format at http://laws.flrules.org/files/Ch_2008-240.pdf,
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Americans will need Credit Repair over the next 7 to 10 years
Related Posts: Credit & Finance, Real Estate News, What If Realty News
hiThis credit situation is a mess. As credit get tighter on the folks the credit scores will suffer for no good reason in many cases. In addition, bankruptcies, foreclosures and just plain delinquencies will stay on the report for as long as 7 years if not dealt with. That means that folks who have been struggling for a few years and then fall into default will have a long uphill battle coming back. We do not recommend any organization only try to guide you to sites that can give you information about the players. This is one http://www.creditrepairreviews.net/?gclid=CNPe0KzeqZUCFRpknAodPkt9lA with more to come.
Here’s a guide that can help explain the impact of your score:
720 - 850 - Excellent – The best financing terms and represents the best score range
700 - 719 - Very Good – qualifies to receive favorable financing
675 - 699 - Average – will qualify for most loans
620 – 674 - Sub-prime – May qualify but will pay higher interest
560 – 619 - Risky – Might have trouble getting a loan
500 – 559 - Very Risky – You need to work on improving your rating
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