11 million Americans are underwater in their mortgages. That's roughly 1 in 4 homeowners. How about another government bailout to help?
The Obama administration is pulling a lever or two so this nasty problem should be fixed just in time for the election, right? Didn't they try something like this before or did that just not work last time?
There are several reasons why we believe it won't work this time either. The Republicans will be blocking it. Then there's that persnickety problem of exactly where will the money be coming from.
Here's the main article from Bloomberg, plus several more interesting takes we've found across the net.
Obama Wants To Expand Government Reach Of Federal Assistance …
Spencer Bachus, R-Ala., chairman of the House Financial Services Committee, said the refinancing plan proposes “to get out of the hole we're in by digging deeper.” “He wants lenders to make more of the same risky loans …
Publish Date: 02/01/2012 17:52
http://newsone.com/nation/associatedpress6/obama-government-housing-assistance/
Geithner: More Fannie reform details in spring | Hot Penny Stocks
By Ronald D. Orol , MarketWatch WASHINGTON (MarketWatch) — Treasury Secretary Tim Geithner on Thursday discussed some of his goals for financial reform in 2012, including a plan to provide more details in the spring about the … He said the Federal Housing Finance Agency, Fannie and Freddie's regulator, is “still open to examining the economic case” for reducing the principal owed by borrowers who have mortgages owned by the two mortgage giants.
Publish Date: 02/02/2012 16:33
http://www.hotpennystocks.co/wall_street/top_stories/geithner-more-fannie-reform-details-in-spring/
Popularity: 5% [?]
What will $1 million buy you across the country?
Forbes has a slide show featuring properties across the nation which are selling for around $1 million. Some of the cities are Phoenix, Nashville, San Francisco, New Orleans, and New York, or course.
I think what is interesting is how many days the properties have been on the market which is a good market gauge.
It is not surprising that your million dollars doesn't buy you much in San Francisco for example. When you compare that property to the one from Dallas, it's almost a no brainer.
Here's the list of $1 million properties
Popularity: 8% [?]
Related Websites -
Real-estate Hosting - Don't Overpay! Recently, I d been using WordTracker.com to see which "real estate property website" phrases get searched quite often through Google, Yahoo and similar major search engines. It surprised me that the phrase "property web hosting" and also the longer "real-estate internet page hosting" were two of the most commonly searched...... -
Obama at Home After Nobel Peace Prize Acceptance Image by Nick Bygon via Flickr Well here at home our good weather has changed to the cold we have been expecting and I woke up to a chilly 15 degrees. But, it is a lot worse elsewhere so I can not complain too much. Presidedent Obama heades home...... -
How To Start Affiliate Online Business ? Selling Affiliate Products Affiliate marketing is one of the most profitable online business - it is easy to operate. You could start affiliate online business without any start up cost or with little cost. The returns are huge, when compared to the start up cost. There are two methods, you could start as...... - Make More Money With These Affiliate Marketing Tips If you still haven't gotten used to affiliate marketing, use the following tips to really boost your business and enhance your profits. {Whether|Regardless of whether|Whether or not|If perhaps} you {want|would like|intend} to target a {niche|specific niche market} {like|such as} {video marketing goldmine|video marketing goldmine|video marketing goldmine|video marketing goldmine|video marketing goldmine......
-
Things to do in San Francisco pt 2 Here is a unique secret about San Francisco: Even the locals are often unaware of all of the gems that this fair city has to offer to its visitors. Here are some of the unique things that you might like to see and get to know while you are visiting......
A serious tenant problem is the spending of too much money on a property because a tenant is demanding you fix things. These tenant types think of you as Santa Claus and they can come to you with their long lists of things they want.
Case in Point: I have an old house with several tenants. One tenant has been very quick to ask for things he really doesn't need. In fact, at times he has demanded we fix things we don't have the budget for. How to handle a tenant like this without him moving?
Here's what we did and so far the psychology is working.
He has a little garden that has costs much higher water bills. Unfortunately, all the tenants share the same water meter. We can't change that, and that is a different subject for a different post.
We explained the water bill to him and told him we had checked the entire property for any leaks. We think the extra $150 jump in the bill was coming from his garden.
"What? I don't water that much."
To summarize we had all our facts and figures to present to him. We know exactly what the averages are for the water per unit per month. Math is math and really isn't easy to dispute, no matter how hard people sometimes try.
He tried to blame it on some of the other tenants, but we were ready for that argument also. In other words, we had done our homework. We know what they use too. We were ready to go to "court".
In the end, he saw it our way, but it took some patient convincing. He had tried to "ask" for a new kitchen floor. We explained to him he was not in a position to negotiate anything. Times are hard, we told him. Besides, we reminded him, he is paying $50 less rent per month than he should be paying.
"We may need to do up on the rents," we said.
He is getting rid of the garden. Case closed.
Take Away:
1. Do your homework. Make sure you have all your facts and figures before you approach a tenant about anything. You will be a force to reckon with when you are armed with knowledge. Knowledge really is power, and even your dumbest tenants will know that.
2. Be nice. You don't have to get rough with them. Keep the dialogue open but let them know you won't be bullied. Adult bullying is no different from kid bullying. Don't let them take the first punch.
3. Be confident. Let your tenants know you are running a business.
Popularity: 9% [?]
Related Websites -
To Heck with 2008 - Bring On 2009, and My Resolutions 2008 sucked! The only folks who seemingly made any money last year were the bankruptcy lawyers and the uber bears that shorted the market. Like most, I'm welcoming the new year a little more than usual. That said, most of us have the pleasant (or foolish) belief that a new year brings new hopes...... - How To Avoid Paying $900/Month For Your iPhone If you reached this site with questions about AT&T, I can help you. I can help you get free minutes, free text messages, and your cell phone bill reduced, even if they are legitimate charges. Just send me an email, I'll respond quickly and we'll get any unnecessary charges removed.......
-
Shopaholic Takes Manhatten Shopaholic Abroad a.k.a. Shopaholic Takes Manhatten was the fifth book I read for my book challenge. This sequel is just as funny as the first with no loss of charm, wit or sheer hilarity. Despite getting herself back on a fiscal even keel at the end of the last outing, Becky just...... - Four Tips to Make your Money go Further If you're a regular reader, you know that I'm almost always trying to make my money work harder. Sometimes I have personal stories about my quest for a cheap smartphone plan and other times I have more generic tips on how to save save money. Despite all this, I'm not......
- Mortgage Company Wants Their Mortgage Payment Got a call today from my mortgage company. They told me that today was the last day to get pay for 3 mortgages without the late charge. I told him the only reason I hadn't paid was because I hadn't recieved a mortgage statement. [ I had just closed on......
How much longer will the Feds continue to keep banks' interest rates low? How will this affect the economy in the coming months?
Those are the questions being asked since the Federal Reserve came out proclaiming it would continue to keep the bank's rates to zero, for a while anyway.
Kansas City Reserve Bank President Thomas Hoenig is dissenting with the policy.
Read Hoenig Says Rates Dangerous
XE.com – MONEY MARKETS-Interbank dollar rates fall on Fed economy view
on U.S. interest rates. Minutes of the June 22-23 Fed meeting released on Wednesday. showed officials wanted to be ready to consider additional. steps to boost the U.S. economy if an already softening outlook …
Publish Date: 07/15/2010 12:49
http://www.xe.com/news/2010-07-15%2013:49:00.0/1276889.htm
Pimco's Gross: Fed won't raise rates for at least two years …
Pacific Investment Management Co.'s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years as it seeks to keep the economy from slipping back into recession.
Publish Date: 08/13/2010 6:59
http://www.thetradingreport.com/2010/08/13/pimcos-gross-fed-wont-raise-rates-for-at-least-two-years/
Fed official sees bigger risks in future, not now | The Daily …
One of the many challenges of being a Fed official is having to make decisions on interest rates and other policies actions now — based on your best thinking of what the future will hold. When James Bullard, president of the Federal …
Publish Date: 08/13/2010 11:25
http://dailycaller.com/2010/08/13/fed-official-calls-low-rates-a-dangerous-gamble/
Who will fix the economy? The Fed, Congress, shoppers and …
Typically, the Fed can lower interest rates to encourage Americans to borrow money and spend it, invigorating the economy. But the benchmark interest rate controlled by the Fed has been almost zero for more than a year now. …
Publish Date: 08/13/2010 16:15
http://www.washingtonexaminer.com/nation/who-will-fix-the-economy-the-fed-congress-shoppers-and-businesses-all-shrug-100638024.html
Popularity: 8% [?]
Related Websites -
La Contenta Golf Course, Valley Springs, CA La Contenta Golf Course is located in: Valley Springs, CAPhone: 209-772-1081 Website: http://www.empiregolf.com/empire/lacontenta Course History: This gorgeous course was just renovated this year and it is truly a course that all golfers in the area should make the effort to play at least once. It originally opened in the...... -
Credit Cards that Help? Not for me just yet I have discussed in the past that being that I am not out of debt, a rewards card is not a good decision...right now, but every so often I think about the rewards associated with credit cards. Regardless of my personal situation, I found an interesting article in Wall Street...... - Compound Interest Week: Real Interest Rates of High-Interest Saving Accounts On Monday we learned about how long it took to double your money at various interest rates. Yesterday, we learned that in order to come up with the real rate of return we need to subtract inflation. Personal Finance bloggers love to write about about high-interest savings accounts. As of......
- US Inflation Much Higher Than Reported: Get Ready For 10% Inflation Today's post is an excerpt from a letter by Martin Hutchinson. He's done a great job of explaining why interest are so low and why inflation will probably run 10% pretty soon. Back in the early 1990s, the Fed and its chairman - Alan Greenspan - had a problem. And......
- Credit Cards For Those Who Carry A Balance... or Who Like 5% Cash Back Rewards It isn't often that I write about credit cards. I have a couple of credit cards that I've had for about 5 years with really good cash back rewards. I get 4-6% off of almost everything that I buy from groceries, gas, and restaurants to home improvement and office supply......
Thanks to the Trouble Assets Relief Program some states will be receiving mortgage payment relief.
This is almost unbelievable. Where will all this money come from?
The government feels the mortgage crisis has now reached the middle class or those folks who used to be able to pay their bills.
Here's another suggestion. Holding on to a job might be the best way to pay off a mortgage. People are losing their jobs so therefore they lose their homes. What people need most now are jobs.
Here's more information
Popularity: 7% [?]
Related Websites -
Is this a Good Time for Baby Boomers to Downsize? Many baby boomers have downsizing on their mind. Mrs. GoTo and I do. Some of that downsize thinking may have been interrupted by all of the bad news about the stock market and the economy. But has all of this bad economic news created favorable conditions for downsizing to a smaller, less expensive...... -
Reverse Mortgages: Are They A Good Idea? By now, most of the people across the country have seen some type of advertisement touting a reverse mortgage as the solution to all of their financial ills. What could be better than taking out a loan that provides you with money that does not necessarily have to be paid...... - Young American’s Guide to Avoiding Debt This article is a guest post by William Eve. William writes about saving money, investment loans and real estate for Home Loan Finder. If your a first home buyer or looking to refinance, visit the Home Loan Finder website for great advice and to compare home loans today. Avoiding debt......
-
My Job Now Has People Asking If We Want to Do Some MLM Photo Credit: The Wandering Angel It's Monday again and I'm getting ready for work later today.Friday I found out that some people had been asked other employees (including a manager) if they would like to join a business opportunity to earn some extra money on the side. It involves...... - Walmart Rant In a previous post about Walmart, someone complained that Walmart was the evil corporation that needed to be kept out of town by the local government due it is unfair employment practices. I don't know why people are anti-business. We saw the same thing with the oil companies recently. Policitians......
