| Low Interest Rates Spur Mortgage Refinancing
Homes sales may get a boost when the fed's recent interest rate drop translates into mortgage rates. The cut will make it easier for many people to get into a new home and will also enable people to refinance to avoid future hardship. Several loan officers and mortgage lenders all say the same thing -- now is the time to refinance your home. But before you do, consumers need to understand the process is not cut and dry. Loan officers around the valley say more and more homeowners need to look into refinancing to take advantage of the low interest rate. Different loans can either lower your monthly payment or even shorter your term But it's not that simple. In order to refinance, you have to have decent credit and have some equity built up in your home.
Mortgage meltdown: Losing home through a lender short sale isn't easy ...
The East Bay has been hit particularly hard, especially Contra Costa County, primarily because it's the place so many first-time homebuyers get their feet wet in the Bay Area housing market. The East Bay Business Times reports that Contra Costa County ranked 10th statewide in July with one foreclosure sale for every 2,411 residents. Of course, many homeowners facing foreclosure are looking for a way to ease the pain of this situation, as well as avoid the black mark it will leave on their credit rating. Many can't or simply don't want to go through the hassle of refinancing, or trying to get the lender to modify the terms of their loan. So, another "solution" has been growing in popularity in the Bay Area: the short sale. A short sale, essentially, is what happens when a homeowner - with the mortgage lender's approval - sells his or her property for less than what is owed on the mortgage.
Analysts predict wave of home refinancing
The economic stimulus plan agreed on Thursday could unleash a wave of mortgage refinancing that would amplify the effect of the Federal Reserve's 75 basis-point interest rate cut this week, according to analysts. While the Fed has cut rates aggressively, until now a large number of homeowners and would-be buyers have not been able to take advantage of the lower interest rates, because of high spreads in the dysfunctional secondary market for jumbo (large denomination) loans. Under the plan, the so-called conforming loan limit would be expanded for the two government-sponsored enterprises to 125 per cent of area median sales price up to a maximum of $729,750, from a current $417,000. Now more homeowners will be able to refinance or take out new mortgages in the functioning segment of the market that “conforms" to Fannie and Freddie rules.
We have to stand apart
One of the key principles outlined in our handbook is that our journalists must not have any association, or engage in activities, that could reasonably give rise to perceptions of partiality. On the surface, this seems like a straightforward rule. But in the heat of the journalistic hunt, I can understand how it can sometimes be overlooked. This has not been an easy decision. Our audiences want us to bring them "inside knowledge." As their delegates in the press gallery, we get a front-row seat at a drama they can only watch from a distance. What's more, I am convinced that the Canadian public is sophisticated enough to realize it is well served by the intense and proper competition for news scoops that exists at every parliamentary, legislative and municipal bureau across the country.
Dec 28th
Well, it's almost time for me to head off to Australia. Tomorrow, actually, but this might be my last chance to get in a blog before then. I will try to blog while there but won't promise. Christmas is over and it was quite a pleasant one. My son visited from Las Vegas and he said he had a good time. It looks like he is set on going back to college full time to qualify as an accountant. He did one class last semester and got an A, so it looks like he should do OK in that field. He has quite a bit of money coming to him for education from the time he spent in the United States Air Force; at least enough for about two years of college. We spent Christmas Eve morning at my wife's parents then headed to Pensacola Beach, Florida to where my wife's sister and family live. Lots of gifts were handed around and we all ate and drank too much.
Noxious Weed Board ressponds to Kaill's report card
No wonder our children grow up with a confused sense of ethics and public morality when they see the leaders of their community not only acting illegally, but when caught at it refusing to take responsibility for their actions and apologizing to the public for them. Christopher Hodgkin Response to SAN JUAN ISLANDER EDITORIAL
- Exactly how meaningless are the county rules? EDITOR:s NOTE: Mr. MacLeod mentions an email which he says he sent to me on Monday evening. He actually sent it on Wednesday morning after he sent this letter to the editor. To the Editor: posted 01/17/2008
On behalf of the countys Ferry Advisory Committee, I would like to offer a couple of brief comments to your readers on your editorial yesterday.
All the Day's Political News From Newspapers, TV, Radio, and Magazines
News stories about the Thursday night GOP debate in Florida commented on its economic focus, the candidates' criticism of Sen. Hillary Clinton, and the lack of attacks among the Republican hopefuls. USA Today reports that with the Florida primary approaching on Tuesday, the GOP candidates "jousted Thursday over who has the best background to deal with the nation's economic slump. John McCain stressed his congressional efforts to cut 'pork barrel spending,' Mitt Romney his business background and Rudy Giuliani his tenure as mayor of New York." The Orlando Sentinel reports that the Republicans "battled Thursday night over the sluggish economy and tax cuts." Romney and McCain each portrayed "himself as ready to lead while keeping a distance from President Bush. Both men said the $150 billion economic stimulus package...fell short by focusing chiefly on tax rebates for middle-class Americans." In a front-page story, the Washington Post reports, "The mostly civil forum came at a critical moment in the muddled GOP competition, and the five remaining candidates appeared eager to avoid some of the sharper differences that have sparked tough exchanges.
A ‘Rainbow’ Approach to Admissions
Sternberg said that diversity was a key goal of reforming college admissions. He said that he rejected the notion that the SAT doesn’t add anything to the college admissions process. But he said that the SAT tends to have the most predictive ability for those from wealthier parts of society. By broadening the measures looked at, he said, colleges can have better predictive tools for all students. "It’s not that the analytical skills measured by the SAT aren’t important," he said. "But they aren’t enough. We have to stop putting so much emphasis on only a sliver of the abilities that kids can bring to college." — Scott Jaschik Comments .
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