Thursday, March 5, 2009

Rick Santelli vs the "looser home owners"

Rick Santelli of CNBC expressed his opinion about the bailout of what he called "looser home owners." I have not been a fan of bailouts either, however I cannot agree with his position when the rich are bailed out at the expense of the poor and he is angry at the few bones thrown at bailing out the poor. What's good for the goose should be good for the gander as well!

The amount of bias some media companies operate with is truly mind boggling. Whatever happened to reporting news as it is, objectively, without personal bias? This cannot be the sign of a healthy country when comedians give you the facts, and media companies give you propaganda!

Not to be outdone, The Colbert Report is running a story about Glen Beck and his miserable virtual world. Compared to Fox and NBC's biased views in news, Comedy Central's Daily Show and Colbert Report seems to provide quality news with humor.

Wednesday, March 4, 2009

Citigroup to give a break to unemployed

I read this article titled "Citi to Allow Jobless to Pay Less on Loans" on The Wall Street Journal, that would be welcome news to those who have undergone financial hardships in this ugly and uncertain economy. Citigroup's program claims to lower the mortgage payment for those who have lost their jobs and are at least 60 days behind on mortgage payment. The offer applies only to loans serviced by CitiMortgage that are $417,500 or lower. What is not clear to me about the 60 days behind on mortgage payment requirement is how it applies to title theory states like Georgia, where the majority of the foreclosures are non-judicial. Could it be possible that the lender forecloses on you before you get 60 days behind on your payment??? I dont know the answer, and I am not going to speculate either, just pointing out a possibility. I found this well written article on Georgia Foreclosure Law, written by McCurdy & Candler, LLC. If you are facing the unfortunate prospect of foreclosure due to a job loss, and your loan is serviced by Citigroup, you may be in luck.  However, if you are thinking of falling behind on your mortgage payment in oder to take advantage of this opportunity, I would suggest consulting a lawyer that knows and can advice you about the full implications of how this may apply to you. Please note that posting the article on "Georgia Foreclosure Law" by McCurdy & Candler, LLC is not a recommendation or an endorsement as I am not familiar with them. I have written another other article on foreclosure prevention that may be worth a look.

Sunday, March 1, 2009

First time buyer incentives abound

There are numerous advantages to purchasing a home this year. In addition to the low interest rates, high levels of offordability, and incredible deals due to the financial crisis, there is an additional $8000 or 10% of purchase price (which ever is less) tax credit for first time home buyers. In order to qualify for the tax credit, you would not have owned a home for the past three years, and the purchase must be made between 1/1/2009 and 11/30/2009. Unlike the previous $7500 tax credit, this is not a loan and does not require repayment if purchased within the specified time period. However, in this unpredictable market, the buyers must exercise caution not to get into homes they cannot afford.

If you are looking for a great deal in the Atlanta and surrounding areas, I can help you find a bargain and represent your best interests. Be sure to read the differences between exclusive and non exclusive agreements and why you should work with an agent even if you are buying a brand new home.

Snow in Suwanee

We have been pretty lucky to have a mild winter so far. It rarely snows in Atlanta and the first snow of winter fell today to remind us that the winter isnt over yet! Here are some pictures I took from the Sims Lake Park in Suwanee.


Hiking Trail

Small Pond