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POPSLose Your House, Lose Your Vote The Michigan Republicans’ planned use of foreclosure lists is apparently an attempt to challenge ineligible voters as not being “true residents.” One expert questioned the legality of the tactic. “You can’t challenge people without a factual basis for doing so,” said J. Gerald Herbert, a former voting rights litigator for the U.S. Justice Department who now runs the Campaign Legal Center, a Washington D.C.-based public interest law firm. “I don’t think a foreclosure notice is sufficient basis for a challenge, because people often remain in their homes after foreclosure begins and sometimes are able to negotiate and refinance.” As for the practice of challenging the right to vote of foreclosed property owners, Herbert called it, “mean-spirited.”
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POPSStimulus Success!??! [Worth the read]
Very interesting perspective!!! when median U.S. incomes began to stall. Because wages got hit then by the double-whammy of global competition and new technologies, the typical American family was able to maintain its living standard only if women went into the workforce in larger numbers, and later, only if everyone worked longer hours. When even these coping mechanisms were exhausted, families went into debt -- a strategy that was viable as long as home values continued to rise. But when the housing bubble burst, families were no longer able to easily refinance and take out home-equity loans. The result: Americans no longer have the money to keep consuming. When you consider thatconsumers make up 70 percent of the economy, the magnitude of the problem becomes apparent. What happened to the money? According to researchers Thomas Piketty and Emmanuel Saez, since the late 1970s, a greater and greater share of national income has gone to people at the top of the earnings ladder.
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POPSACORN Working on Behalf of the Prey The report also showed that predatory subprime lenders were targeting African American, Latino and low-income communities, selling them bad loans even when applicants had good credit and could have qualified for better loan products.
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POPSGovernment Policy Still Has It Backwards First, the government should buy up a portion of mortgages up to roughly the foreclosure value of a home (say 40% of the purchase price) and provide homeowners with an ultra-low rate on this fully collateralized loan portion of 3% to 3.5%, interest-only for five years. I favor applying this program not just to distressed loans but to the estimated 50% of mortgages that are unable to refinance because of insufficient equity. First, the government should buy up a portion of mortgages up to roughly the foreclosure value of a home (say 40% of the purchase price) and provide homeowners with an ultra-low rate on this fully collateralized loan portion of 3% to 3.5%, interest-only for five years. I favor applying this program not just to distressed loans but to the estimated 50% of mortgages that are unable to refinance because of insufficient equity. Full article: http://www.rgemonitor.com/globalmacro-monitor/255413/government_policy_is_still_backwards
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POPSOil Trophy, Abu Dhabi To Buy The Chrysler Building Boston Properties closed on its purchase of the GM Building on Monday with investment partners Kuwait and Qatar, and will complete the purchase of three other former Macklowe properties over the next few months. Developer Harry Macklowe was forced to sell the assets after taking a personal loan on the GM Building and other family assets to raise nearly $7 billion to buy a city package of former Equity Office buildings. The credit markets tanked right after completing that deal in July and Macklowe was unable to refinance the short-term debt causing him to sell the four buildings to Boston Properties and return the Equity portfolio to lender Deutsche Bank.
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POPSWhat Obama will likely do for you What Obama will do is to try to stop Paulson spending all of the $700 Bn gov Bailout money on his Wall St buddies banks, if there is any left by the time he takes over. Wall St benefits from the '$800Bn infusion" mentioned thats plenty!
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POPSFeds Urge Leniency For Homeowners Only under the temporary 'hothouse' conditions in mortgage markets did they seem to qualify. Second, people who have no equity in their homes cannot meaningfully be said to be owners. When times turn tough, they will walk away. They were effectively renters, not homeowners. "The crisis will end when housing markets hit bottom and the prices of mortgage securities stabilize. Banks also need to unwind their positions in exotic financial derivatives. The Fed needs to understand it is facing a capital crisis, not a liquidity crisis. The very low interest rates on safe assets show there is ample liquidity in financial markets. The Fed should not supply capital. That is the job of markets, and they are doing it."
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POPSReduce Your Monthly Spending those are 40 ways and i couldn't list them all, such as: Move to a less expensive area Reduce or eliminate consumable habits (smoking, alcohol, etc.) Reduce grooming expenses Strongly reduce or eliminate clothes shopping Reduce (temporarily) your giving at church/synagogue/etc. Eliminate services (housecleaning, landscaping, etc.) Reduce or eliminate organized child activities Move to a less-expensive child care option Reduce or eliminate your cell phone bill and what to do with insurance. in fact, i've cut my own hair, even though i had a girl who could do it for free, but i broke up with her.
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POPSMortgage/Loan Amortization Schedule Calculator Is it time to refinance Your mortgage or loan? Check out Your mortgage amortization table. Check Your interest and principal. View Your amortization schedule now! http://www.amortization-schedule.info/ - don't forget to check out our Firefox plugin!
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