Add comment May 28th, 2008
There are several ways to take hold the title to a property. Some are mere; some are complex. Each has its advantages and disadvantages, so you have to make up one’s mind which one is properly for you.Relating Posts:How many will rescue help?Continue Reading Add comment May 28th, 2008
Barack Obama visited Las Vegas, one of the hardest hit housing markets in the nation, and used it as a backdrop to unveil his fix for the mortgage mess. Obama says he wants to create a $10 billion government-financed fund to help restructure bad mortgage loans as well as offer tax credits good for 10% of their mortgage interest payments to troubled borrowers. He said he supports legislation proposed by Senator Dodd and Congressman Frank that would have the Federal Housing Administration guarantee new loans if lenders agree to forgo part of the principal and lower the interest rates. Obama also said he wants to increase the level of disclosure of loan terms to borrowers, increase penalties for predatory lending and eliminate income taxes for senior citizens making under $50,000 a year.
Taking a page from Ronald Reagan, Obama trotted out Felicitas Rosel and Francisco Cano, a maid and a porter at the Bellagio hotel on the Strip who are now in danger of losing their home of many years. “Because a lender went for the easy buck, they are left struggling with ballooning interest rates and monthly mortgage payments,” Obama said.
Hilary Clinton quickly reiterated her own housing policy, including a moratorium on subprime loan foreclosures and a freeze on subprime adjustable loan rates. She also supports the Dodd/Frank legislation and a $30 billion mortgage bailout fund. She used the occasion to slam President Bush’s housing policies.
Largely absent from the debate has been John McCain. He briefly took a stand in April, saying he would have his own $10 billion mortgage restructuring fund. That was after several months of saying the government shouldn’t prevent market forces from working. His campaign Web site has almost nothing to say regarding a housing program, at least as far as I could find. Strange given that his home state of Arizona is another place struggling with the housing bust.
Add comment May 28th, 2008
Prominent home improvement chain Lowe’s sent imperfect numbers today, a 19% decline in earnings, same store sales were down 8%. The stock dangled 2%. It was already 30% off its peak from last year. A couple of interesting points were made about the housing market. The company avers it monitors sales in what they study [...]Add comment May 28th, 2008
The public radio show This American Life had a bang-up program on the housing bust on Sunday. It was sent for the Gargantuan Pool of Money and it detailed how Wall Street’s search for higher yields translated into the foreclosure crisis the country is soon living. None of this will be newfangled to readers of Red-hot [...]Continue Reading Add comment May 28th, 2008
Whether you’re just looking for a change of scenery or planning a family, picking a place to settle down in can be difficult. Real estate expert Barbara Corcoran reveals five locations that you shouldn’t overlook.
Continue Reading Add comment May 28th, 2008
The McSam Hotel Group is betting that it’s recent $56 million acquisition of two properties in Lower Manhattan–and its plans to develop a new hotel on the sites–will help the firm capitalize on a growing demand for hotel space in the area. Read more »
Continue Reading Add comment May 28th, 2008
A commercial loft building at 29 W. 36th St. has just traded for $29 million to Broadway 36th Realty L.L.C., local investors in the textile industry, according to Eastern Consolidated, which represented seller Clemons Management Corp. Read more »
Continue Reading Add comment May 28th, 2008
Banks say they want to help troubled homeowners, but they are delaying deals that could save everyone - including the lenders themselves - a lot of time and money.
Continue Reading Add comment May 28th, 2008
Developed by Greystone Property Development, and designed by Barry Rice Architects, nine-building condominium property is making its debut at 180 East 93rd Street in Manhattan, N.Y. Read more »
Continue Reading Add comment May 28th, 2008
Younan Finance Group, an affiliate of Younan Properties Inc., has announced that it is under contract to buy a $6.5 million B-Note on Orange Tower, a 290,800-square-foot Class A office building, and a 42,700-square-foot 24-Hour Fitness facility in Orange County, Calif., from Rubicon Capital America L.L.C. Read more »
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| « Apr | Jun » | |||||
| 1 | 2 | 3 | 4 | |||
| 5 | 6 | 7 | 8 | 9 | 10 | 11 |
| 12 | 13 | 14 | 15 | 16 | 17 | 18 |
| 19 | 20 | 21 | 22 | 23 | 24 | 25 |
| 26 | 27 | 28 | 29 | 30 | 31 | |