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Archive for September, 2011

September 29, 2011 A HARP Revamp Could Help Millions of Underwater Homeowners

The Federal Housing Finance Agency (FHFA) is working on a major plan that would allow millions of borrowers who are underwater on their mortgages to refinance. The plan would be part of a revamped Home Affordable Refinancing Program (HARP). Since HARP launched in March 2009, nearly 900,000 borrowers have used the program. Proposed changes to [...]

September 27, 2011 Finding a Local Bank for Your Business Loan

A recent article on Entrepreneur.com, “How to Find the Best Local Lender for Your Business,” provides tips for business owners who may be looking to get a loan from their local community bank. Look for SBA-backed banks. Check the Federal Deposit Insurance Corporation (FDIC) troubled-bank watch list. Make sure the management team is stable. Seek [...]

September 22, 2011 Appraisals Are Important and an Arizona Controversy Proves It

This week, there’s an article in The Arizona Republic about an auction that was held in Arizona recently. A town in Arizona purchased equipment, land, and right-of-way from a dairy farm in 2009 with plans to turn the land into a park. Controversy arose when it was discovered that the town paid nearly 10 times [...]

September 20, 2011 Congressional Budget Office: Refinancing Plan Could Cost $15 Billion

The Congressional Budget Office (CBO) conducted a cost-benefit analysis of the Obama administration’s proposed federal refinancing plan to decrease homeowner defaults. The analysis revealed that such a plan would cost private bond investors $13 to $15 billion. The CBO’s cost-benefit analysis showed a federally supported refinancing plan would result in the refinancing of some 2.9 [...]

September 15, 2011 IFRS Debate Continues: Centre for the Study of Financial Innovation Holds Roundtable on IFRS

International financial experts came together at a roundtable to discuss and debate the future of global standards and the likelihood of a truly comparable set of rules such as the International Financial Reporting Standards (IFRS). A recap of the discussion was published in Accountancy Age. The group discussed whether the promise of global accounting standards [...]

September 13, 2011 Flooding and Your Home’s Value

People are already a bit skittish when it comes to buying real estate, and water damage, even if it was only a little water seepage under extreme conditions, can kill a buyer’s confidence in a home purchase. Home owners dealing with water damage from major storms may be dealing with lack of buyer confidence for [...]

September 8, 2011 Freddie Mac to Fund Apartment Building Loans

Freddie Mac is expected to fund more than $16 billion in apartment building loans by the end of 2011, an increase over the $14.8 billion funded in 2010. In theory, this will boost the still-fragile multi-family real estate market by giving landlords greater access to financing. Investors have recently demonstrated a strong preference for commercial [...]

September 2, 2011 Refinancing Options for Underwater Homeowners

The national average of underwater homeowners is just over 28%. Many of these people report feeling stuck in their homes and powerless to change their situation. But with the extremely low current interest rates, underwater homeowners can refinance and bring their mortgage payment to a manageable number. There are several programs designed to help underwater [...]