Resolved Question: Should we keep our building and wait til the economy gets better to sell it?

I'm curious. My sister and I own a commercial building. We moved our business out this year--the economy made it not fun. So it sits empty. We have it up for sale, and I convinced her to lower the price $60,000. We also have a FOR LEASE sign up. We've had a gal interested in leasing it, and now I wonder if it might be a good idea to take the building OFF the market....lease it....and put it back up for sale in a year or so when the economy might be better?? (the lease will only pay our mortgage and taxes---no profit)  more

Voting Question: Are malls next to face foreclosure?

By MATT APUZZO THE ASSOCIATED PRESS Published: Monday, December 1, 2008 at 1:00 a.m. Last Modified: Friday, November 28, 2008 at 6:20 p.m. WASHINGTON - The full scope of the housing meltdown is not clear, and already there are ominous signs of a new crisis -- one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full swing, the same events poisoning the housing market are now at work on commercial properties, and the bad news is trickling in. Malls from Michigan to Georgia are entering foreclosure. Hotels in Tucson, Ariz., and Hilton Head, S.C., also are about to default on their mortgages. That pace is expected to quicken. The number of late payments and defaults will double, if not triple, by the end of next year, according to analysts from Fitch Ratings Ltd., which evaluates companies' credit. "We're probably in the first inning of the commercial mortgage problem," said Scott Tross, a real estate lawyer with Herrick Feinstein in New Jersey. That is bad news for more than just property owners. When businesses go dark, employees lose jobs. Towns lose tax revenue. School budgets and social services feel the pinch.  more

Resolved Question: Whose fault is the economic crisis anyway?

So let’s look at how we got here: ILLUSIONS Big part of what makes the American Dream is hope. However unrealistic, uneducated, and misinformed choices replace hope with illusions. Buyers had the illusion that homes would always keep increasing rapidly in value. However, they failed to understand that the real estate market has cycles. Some of the factors that create a change in the market are increased amounts of supply or demand, deregulation of the financial industry, easy and available credit, low interest rates and much more. People who bought homes they could not afford did it because they saw an opportunity to “invest” their life savings and achieve the American dream. They viewed this opportunity as attainable because banks made it possible, unscrupulous agents/brokers made them believe it was possible, and because they lacked the knowledge necessary to understand the responsibilities, risks and benefits of owning a home. Other illusions buyers had was their wages. The had the illusion that their wages would go up enough year after year to cover their ever increasing debt due to a lavish life style. This illusion, the lack of financial education and self-control allowed for people to live well beyond their means. Today people, banks, and our government are drowning in debt. CREDIT Competition in the market forces business to improve on their products and allows the consumer to purchase those products at affordable prices. However, competition between banks in a booming economy and low interest rates created a credit bonanza. Instead of banks improving on their products and services, they began utilizing creative financial tools to attract more borrowers. They also lend money to risky borrowers with little regard of their qualifications. Anybody that had a pulse could literally get a loan. Banks can’t accommodate the demand for credit only with their money reserves. So if they want to lend more money, they sell these mortgages to commercial banks and Wall Street lenders. Financial Crisis: Who's Fault Is It, Anyway? Doesn't matter. Because just about everyone is to blame. Republicans opened the door through debt-based credit derivatives and deregulation. Democrats further contributed by turning a blind eye to Fannie and Freddie and insisting that even those who couldn't really afford mortgages be allowed to get them. The Bush Administration touted consumer spending as a means to boost the economy, and encouraged reckless consumer behaviors with billions in "stimulus"money, all while fueling the national debt through a disastrous war and tax cuts for people who don't really need them. And, of course, greedy banks and mortgage lenders went along, doing their best to bilk whoever came through door for whatever they could get -- before passing the risk on to equally greedy investment banks and hedge fund managers. Consumers came along for the ride, abandoning reasonable financial practices and using credit to fuel materialism -- as well as making poor decisions by buying homes they couldn't afford with "creative" mortgage financing. Nearly everyone shares some of the blame. This is not the time to bicker over who is most at fault. It doesn't matter. The past is past. It's time to move forward and fix the problem. REALLY fix the problem. With practical solutions (that's right, follow the link for just one alternative -- and better IMO -- solution) that don't involve throwing a large, arbitrary amount of money at the problem. This is something that requires measured thought. And a change in how our society now views debt, money and the economy. There's no reason to rush into a bailout plan right now. Instead, a little more analysis is needed.  more

Resolved Question: Do you agree with the theory that George W. Bush is responsible for the current economic crisis?

Do you agree with this: BUSH ADMINISTRATION responsible for 2008 FINANCIAL CRISIS -------------------------------------------------------------------------------- I see a lot of politicians and forum members pointing fingers at who was responsible for the 2008 Financial Crisis we are currently experiencing. The answer is really simple. THE BUSH ADMINSTRATION! Bush selected the Board of Governors at the Federal Reserve. The Federal Reserve Governors are responsible for Banking Oversight. The below quotes are found here: Federal Reserve System - Wikipedia, the free encyclopedia Quote: Private banks elect members of the board of directors at their regional Federal Reserve Bank while the members of the Board of Governors are selected by the President of the United States and confirmed by the Senate. Quote: The Board of Governors is the part of the Federal Reserve System that is responsible for supervising the private banks. A general description of the types of regulation and supervision involved is given by the Federal Reserve:[11] The Board also plays a major role in the supervision and regulation of the U.S. banking system. It has supervisory responsibilities for state-chartered banks that are members of the Federal Reserve System, bank holding companies (companies that control banks), the foreign activities of member banks, the U.S. activities of foreign banks, and Edge Act and agreement corporations (limited-purpose institutions that engage in a foreign banking business). The Board and, under delegated authority, the Federal Reserve Banks, supervise approximately 900 state member banks and 5,000 bank holding companies. Other federal agencies also serve as the primary federal supervisors of commercial banks; the Office of the Comptroller of the Currency supervises national banks, and the Federal Deposit Insurance Corporation supervises state banks that are not members of the Federal Reserve System. Some regulations issued by the Board apply to the entire banking industry, whereas others apply only to member banks, that is, state banks that have chosen to join the Federal Reserve System and national banks, which by law must be members of the System. The Board also issues regulations to carry out major federal laws governing consumer credit protection, such as the Truth in Lending, Equal Credit Opportunity, and Home Mortgage Disclosure Acts. Many of these consumer protection regulations apply to various lenders outside the banking industry as well as to banks. Members of the Board of Governors are in continual contact with other policy makers in government. They frequently testify before congressional committees on the economy, monetary policy, banking supervision and regulation, consumer credit protection, financial markets, and other matters. The Board has regular contact with members of the President’s Council of Economic Advisers and other key economic officials. The Chairman also meets from time to time with the President of the United States and has regular meetings with the Secretary of the Treasury. The Chairman has formal responsibilities in the international arena as well. Quote: Preventing asset bubbles The board of directors of each Federal Reserve Bank District also have regulatory and supervisory responsibilities. For example, a member bank (private bank) is not permitted to give out too many loans to people who cannot pay them back. This is because too many defaults on loans will lead to a bank run. If the board of directors has judged that a member bank is performing or behaving poorly, it will report this to the Board of Governors. This policy is described in United States Code, Title 12, Chapter 3, subchapter 7, section 301:[23] Each Federal reserve bank shall keep itself informed of the general character and amount of the loans and investments of its member banks with a view to ascertaining whether undue use is being made of bank credit for the speculative carrying of or trading in securities, real estate, or commodities, or for any other purpose inconsistent with the maintenance of sound credit conditions; and, in determining whether to grant or refuse advances, rediscounts, or other credit accommodations, the Federal reserve bank shall give consideration to such information. The chairman of the Federal reserve bank shall report to the Board of Governors of the Federal Reserve System any such undue use of bank credit by any member bank, together with his recommendation. Whenever, in the judgment of the Board of Governors of the Federal Reserve System, any member bank is making such undue use of bank credit, the Board may, in its discretion, after reasonable notice and an opportunity for a hearing, suspend such bank from the use of the credit facilities of the Federal Reserve System and may terminate such suspension or may renew it from time to time. To me, it looks like the oversight LAWS WERE IN PLACE, and the Federal Reserve Governo If Bush hadn't let gas prices get so out of hand we would all have $300-$500 more to spend each month to stimulate the economy. You guys are blaming Clinton? He left us with a surplus. Bush will leave us with the biggest deficit we've ever seen. Bush spent all our money and robbed us blind at the pump.  more

Resolved Question: Do you think its funny when McCain supporters still say they dont know what Obama's change is?

Here comes all the "empty suit" references from the rightwing mouthbreathing, knuckledragging squad. John McCain/Bush stands for a third term of the disasterous Bush administration, the guy should be stuffed and mounted and put in a museum somewhere in South Carolina. Here are some of Senator Barack Obama's positions: Opposed the Iraq war from the start. Voted to end the war in Iraq. Supports capturing and killing Osama Bin Laden. Favors a $1000 tax cut for every working American family. Will implement tax form simplification to reduce filing time. Provide tax credit for all middle class homeowners. Provide a tax cut for all families making less than $75,000 a year. Amend NAFTA to protect American workers. Amend NAFTA to strengthen environmental protections. Providing Flex Ed training accounts for workers. Extending Trade Adjustment assistance to service workers. Supported Patriot Employer Act of 2007 that gives tax credits to large companies that keep workers here in America. Double funds for basic federal research. Implement a long term research and development tax credit. Invest in green technologies. Reduce carbon emission gases. Tackle the challenges of global warming. Create an energy focused youth jobs program. Create Federal Renewable Portfolio Standard. Extend the Production Tax Credit. Expand Broadband into every community. Keep the Internet tax free. Expand high speed internet access in rural areas. Fight for passage of Employee Free Choice Act. Ensure freedom to unionize. Would overturn "Kentucky River" classifications of Bush's NLRB Protect rights of striking workers. Increase the mininum wage to index it to inflation. Crack down on predatory lenders. Provide a universal mortgage tax credit for homeowners who don't itemize. Sign the Stop Fraud Act to prevent lending fraud. Mandate accurate loan disclosure. Create a fund to protect people from foreclosures. Close the bankruptcy loophole for mortgage companies. Establish a credit card rating to improve disclosure. Ban utilateral credit card charges. Apply interest rate only to future debt. Prohibit credit card interest on fees. Prohibit Universal defaults. Require prompt and fair crediting of cardholder payments. Protect working people from unfair bankruptcy laws. Ban executive bonuses for bankruptcy companies. REquire disclosure of pension investments. Cap outlandandish interest rates on payday loans. Implement legislation to drive unscrupulous lenders out of business Create a bankruptcy exemption for people that went broke because of medical bills. Double funding for after school programs. Extend Family and Medical Leave Act. Encourage states to adopt Paid leave. Expand the Child Care Tax Credit Supports ratification of UN Convention Rights of Persons With Disabilities. Supports independent, community based living for people with disabilities. Expand educational opportunites for people with disabilities. Expand job opportunities for people with disabilities. Strengthen civil rights enforcement. Sign into law the Fair Pay Act. Sign law reversing recent SCOTUS rulings that permitted discrimination against women. Sign law reversing recent SCOTUS rulings that permitted discrimination against racial minorities. Strengthen federal hate crimes legislation. Eliminate the sentence disparities regarding crack cocaines. Establish drug courts for first time, non violent offenders. Create a prison to work incentive for those transitioning back into society. Passed a law to prohibit the practice of racial profiling. Supported reauthorizing the Voting Rights Act. Opposes all discriminatory barriers to voting. Helped reform death penalty system in Illinois to protect innocent people on death row. Voted to ban cluster bombs. Provide high quality affordable child care to families. Will quadrulple Early Head Start funding. Will increase Head Start funding. Creates early learning challenge grants. Abolish overly rigid teach to the test curriculum in schools. Improve accountability in public schools. Invest in intervention strategies to reduce dropout rates in schools. Increase funding for afterschool programs. Supports Step Up program to increase summer learning opportunities. Support English language learner programs. Expand college outreach programs. Create teacher service scholarships. Requires all public schools to be accredited. Create teacher residency programs. Create the American Opportunity Tax Credit for higher education. Streamline financial aid application. Introduced legislation to increase Pell Grant to $5,100. Reduce carbon emissions by 80% by 2050. Confront deforestation. Promote carbon sequestration. Accelerate commercialization of plug in hybrids. Promote development of commercial scale renewable energy. Invest in low emission coal plants. Transition to new electric digit grid. Double science funding for clean energy products. Create Green Jobs Cor  more

Resolved Question: Did Obama wow you last night? ?

Well hopefully your eyes were opened to his deceitfulness: WASHINGTON – Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office. Obama's assertion that "I've offered spending cuts above and beyond" the expense of his promises is accepted only by his partisans. His vow to save money by "eliminating programs that don't work" masks his failure throughout the campaign to specify what those programs are — beyond the withdrawal of troops from Iraq. A sampling of what voters heard in the ad, and what he didn't tell them: THE SPIN: "That's why my health care plan includes improving information technology, requires coverage for preventive care and pre-existing conditions and lowers health care costs for the typical family by $2,500 a year." THE FACTS: His plan does not lower premiums by $2,500, or any set amount. Obama hopes that by spending $50 billion over five years on electronic medical records and by improving access to proven disease management programs, among other steps, consumers will end up saving money. He uses an optimistic analysis to suggest cost reductions in national health care spending could amount to the equivalent of $2,500 for a family of four. Many economists are skeptical those savings can be achieved, but even if they are, it's not a certainty that every dollar would be passed on to consumers in the form of lower premiums. ___ THE SPIN: "I also believe every American has a right to affordable health care." THE FACTS: That belief should not be confused with a guarantee of health coverage for all. He makes no such promise. Obama hinted as much in the ad when he said about the problem of the uninsured: "I want to start doing something about it." He would mandate coverage for children but not adults. His program is aimed at making insurance more affordable by offering the choice of government-subsidized coverage similar to that in a plan for federal employees and other steps, including requiring larger employers to share costs of insuring workers. ___ THE SPIN: "I've offered spending cuts above and beyond their cost." THE FACTS: Independent analysts say both Obama and Republican John McCain would deepen the deficit. The nonpartisan Committee for a Responsible Federal Budget estimates Obama's policy proposals would add a net $428 billion to the deficit over four years — and that analysis accepts the savings he claims from spending cuts. The nonpartisan Tax Policy Center, whose other findings have been quoted approvingly by the Obama campaign, says: "Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next 10 years." The analysis goes on to say: "Neither candidate's plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified." ___ THE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. " THE FACTS: His proposals — the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more — cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged — although not in his commercial — that: "The next president will have to scale back his agenda and some of his proposals."  more

Resolved Question: Did anyone see Barack Obama's 30 minute presentation on television Wednesday night? ?

I don't have cable so I was not able to see it, but the Associated Press article had the following to say about it. WASHINGTON – Democratic presidential candidate Barack Obama was less than upfront in his half-hour commercial Wednesday night about the costs of his programs and the crushing budget pressures he would face in office. Obama's assertion that "I've offered spending cuts above and beyond" the expense of his promises is accepted only by his partisans. His vow to save money by "eliminating programs that don't work" masks his failure throughout the campaign to specify what those programs are — beyond the withdrawal of troops from Iraq. A sampling of what voters heard in the ad, and what he didn't tell them: THE SPIN: "That's why my health care plan includes improving information technology, requires coverage for preventive care and pre-existing conditions and lowers health care costs for the typical family by $2,500 a year." THE FACTS: His plan does not lower premiums by $2,500, or any set amount. Obama hopes that by spending $50 billion over five years on electronic medical records and by improving access to proven disease management programs, among other steps, consumers will end up saving money. He uses an optimistic analysis to suggest cost reductions in national health care spending could amount to the equivalent of $2,500 for a family of four. Many economists are skeptical those savings can be achieved, but even if they are, it's not a certainty that every dollar would be passed on to consumers in the form of lower premiums. ___ THE SPIN: "I also believe every American has a right to affordable health care." THE FACTS: That belief should not be confused with a guarantee of health coverage for all. He makes no such promise. Obama hinted as much in the ad when he said about the problem of the uninsured: "I want to start doing something about it." He would mandate coverage for children but not adults. His program is aimed at making insurance more affordable by offering the choice of government-subsidized coverage similar to that in a plan for federal employees and other steps, including requiring larger employers to share costs of insuring workers. ___ THE SPIN: "I've offered spending cuts above and beyond their cost." THE FACTS: Independent analysts say both Obama and Republican John McCain would deepen the deficit. The nonpartisan Committee for a Responsible Federal Budget estimates Obama's policy proposals would add a net $428 billion to the deficit over four years — and that analysis accepts the savings he claims from spending cuts. The nonpartisan Tax Policy Center, whose other findings have been quoted approvingly by the Obama campaign, says: "Both John McCain and Barack Obama have proposed tax plans that would substantially increase the national debt over the next 10 years." The analysis goes on to say: "Neither candidate's plan would significantly increase economic growth unless offset by spending cuts or tax increases that the campaigns have not specified." ___ THE SPIN: "Here's what I'll do. Cut taxes for every working family making less than $200,000 a year. Give businesses a tax credit for every new employee that they hire right here in the U.S. over the next two years and eliminate tax breaks for companies that ship jobs overseas. Help homeowners who are making a good faith effort to pay their mortgages, by freezing foreclosures for 90 days. And just like after 9-11, we'll provide low-cost loans to help small businesses pay their workers and keep their doors open. " THE FACTS: His proposals — the tax cuts, the low-cost loans, the $15 billion a year he promises for alternative energy, and more — cost money, and the country could be facing a record $1 trillion deficit next year. Indeed, Obama recently acknowledged — although not in his commercial — that: "The next president will have to scale back his agenda and some of his proposals." Laura - Obama's speech became meaningless when he entered Wright's church and stayed there for 20 years listening to "Black Liberation theology" which is a twisted perversion of the Christian gospel and is heavily racist to the point of wanting to see white people exterminated. Obama was born to a Muslim father, he had a Muslim grandfather, he was raised by a Muslim step father, taught as a boy in a Muslim school, tutored by a man who was a sexual pervert and socialist during his early boyhood, attended the church Wright pastored which had many Muslim members, has been praised by Quaddafi and Hamas - Muslim terrorists, and in an absent-minded moment on tv slipped and said "My Muslim faith." His friends are terrorists and leaders who hate our nation and want her destroyed from without and within. He has not proven his citizenship, and his biggest campaign issue centered around race. He has promised that his future plans are heavily racial in purpose. Christian? Never! Obama voted 4 times against letting a baby receive medical attention if that baby survived an abortion. Fannie and Freddie paid him more than everyone but Chris Dodd and 39 times more than McCain. I believe McCain received a token payment to cover their tracks, and the big three; Dodd, Obama and Kerry were paid to keep their mouths shut or to continue their refusal to vote with Bush regulate them. Obama has NEVER at any time declared he loves America, but has called our troops terrorists and has downgraded our Constitution. He has lied so many times about so many things that it is hard to believe he means any of the things he says. He has vacillated on numerous issues, and has never instituted any legislation in his one year that he actually showed up for work in Illinois. He has can speak eloquently about nothing and people look beyond his lack of knowledge and experience like they are in a hypnotic trance. He is a fraud, and unworthy of the respect of any thinking person.  more

Resolved Question: What steps should I take to become a commercial or mortgage loan officer?

I want to become a loan officer ASAP. I have a year of college left, and I'm majoring in Business Management Economics. Basically Economics with some accounting, some computer classes, and some management classes. What steps do I need to take to become a loan officer after I graduate in Miami, NYC, Chicago, or LA? Should I be looking at grad school right now or trying to line up a job? What about grades, how important are they? I'll have a 3.2 GPA when I graduate, is this good enough?  more

Resolved Question: Who really caused the sub-prime crises Democrats?

The Subprime Debacle by Dr. Kuni Michael Beasley 30 Years in Gestation The Democrats are doing a lot to try to pin the subprime debacle on the Republicans and the Bush administration. However, there is a long tail to this problem that just happened to pop at this time. Now, for the rest of the story. Definitions first. Fannie Mae is the Federal National Mortgage Association (FNMA), founded in 1938 as a publically traded government sponsored enterprise (GSE) that is stockholder owned that makes loans and issue loan guarantees. Its cousin is Freddie Mac, the Federal Home Loan Mortgage Corporation (FHLMC), founded in 1970 as another GSE created to expand the secondary market for mortgages. Freddie Mac buys individual mortgages on the secondary market, pooled them into packages, and sold them to investors on the open market. The secondary market packaged mortgages as collateral and issues securities called collateralized mortgage obligations (CMO) and collateralized debt obligations (CDO), to reduce the risk of individual loans. CMOs are a separate entity that is the actual legal owner of the mortgages it has in a "pool." CMOs sell bonds to investors based on the value of the mortgages. Investors receive payments based on the increased value of the loans in the pool. The collateral for the bonds are the actual mortgages. CDOs are a separate entity like CMOs, but are more focused on fixed income assets such as, but not limited to mortgages (and can include commercial mortgages and corporate loans). The focus is cash flow and slices (tranches) of these cash flows are sold to investors. The subprime mortgage crisis surfaced first in 2007, but it had been incubating for years, indeed, decades. Though roots can be traced back to the New Deal legislation in the 1930's, the current crisis actually draws its source from the Community Reinvestment Act (CRA) [1977] during the Carter administration that forced banks to lend money to less credit worthy clients. Lending institutions were evaluated to determine if it met the "credit needs of the community" and this was factored into regulatory decisions of the federal government such as applications for facilities, mergers, and acquisitions. Interest in the CRA resurfaced in the Clinton administration when regulations in the CRA (which could be manipulated without any participation of congress) essentially forced institutions to offer loans to higher risk individuals and businesses. The term "Ninja" loans emerged describing high risk loans made to people with No Income, No Job, and no Assets, but completed a particular bank's portfolio sufficient to keep federal regulators off their backs. As access to easy money for high risk borrowers increased, certain institutions began to take advantage of these new opportunities to score fed points and make easy money. Name dropping here: Countrywide began to process, package, and offer investment instruments (CMOs) based on these loans. Revisions to the CRA by the Clinton administration allowed mortgage companies to offer loans without the relative reserve of deposits normally required of banks and other financial institutions. In addition, this allowed for securitization of sub prime mortgages based on the pooling and packaging of cash-flow producing assets into securities that could be sold to investors - with the asset value not tagged to actual value of the property, but to the value of the cash flow produced by the asset held (sounds weird). The first public securitization of CRA loans was started in 1997 by (familiar name) Bear Stearns! Now, let's understand sub-prime loans for a moment. A sub-prime loan is a mortgage offered at a deep discount on interest the first year or two so the borrower could qualify for a larger loan and more expensive house, betting that their economic profile would get better and they could afford large payments later. Adjustable Rate Mortgages (ARMs) are a form of this where the entry rate is low and rises based on certain criteria such as the rates for government securities. Simply put, lenders (not necessarily banks, but more often mortgage companies) offered low cost, low entry rate mortgages to people who would not normally qualify for that amount of debt. These loans were "warehoused" by financial institutions, where a financial institution like Merrill Lynch would set up a separate, but wholly owned mortgage company (First Franklin) to attract loans. Merrill Lynch would retain control of the loans as a "trustee" or "servicer," and derive benefits from fees for "managing" the loans and increase assets by keeping escrow deposits. In turn, these loans would be sold to Fannie Mae or Freddie Mac (who were assumed to guarantee the loans), who, in turn, repackaged them for the secondary market. In 2003 the Bush administration tried to head-off what they saw as a potential crisis by moving the supervision of Fannie Mae and Freddie Mac under a new agency  more

Resolved Question: What happens if you go into financial default on commercial property?

My sister and I own a commercial building--the business we ran inside went bust thanks to the lousy economy. The building has been up for sale for many months with NO bites. We've lowered and lowered it. No one is buying--small town. My sis and I both work, but this is still financially hard on both of us to keep paying on this building. Mortgage lender has changed our loan to a balloon mortgage, interest only (which saves us several hundred dollars a month), but if I sign it, we have one year & then have to come up with the entire principal, and he said there is NO guarantee they will renew it. There is NO way we can pay it off in a year. So all this makes me wonder if we should just call it quits, keep what little we have left in our savings, stop working so hard to keep up on the mortgage. Our houses are NOT the collateral--the building is. Sure, I know we'll lose both of our top credit standings, but.....this is the pits, and it looks like we could lose it anyway in a year if we sign the new mortgage..... What else would we face if we stop paying? Is it possible that it's worth it?? Any other comments for us to think about? Ananamas, yes, I did like your questions, but wasn't sure how to implement them. For example, how do I find the kind of businesses who don't have to be physically present? How do I contact them? That seemed daunting. Also, I think the city council requires that buildings on our block be a retail for customer to walk into. As far as leasing it, we had some bites, but they ALL wanted to pay FAR less than our mortgage!! Very frustrating. People are low-balling. Networking with local banks and Chamber about new businesses coming in or expanding--not sure either is happening in this community. No, we're not in a dead community at all. It's just the "economy{ thing..... I'm still very interesting in all your ideas. Just not sure how to make them work. This is maddening.  more

Resolved Question: HAVE ANY OF YOU READ THIS ABOUT THE ECONOMY?

Subject: From a retired Banker on the current fiasco!!! WORTH THE READ...no matter who you favor for President-- FROM A RETIRED BANKER Written by Jack Kelly Thursday, 18 September 2008 Lending money to people who probably won't pay it back isn't good Business. If you wrap crummy loans in a clever package, they're still crummy loans. Your typical Wal Mart shopper understands this. But the Masters of the Universe on Wall Street and in Washington evidently didn't. Ostensibly to aid the poor, the Clinton administration and Congress Encouraged lenders to give mortgages to poor credit risks. The Combination of easy money and the expansion of the number of borrowers By extending loans to poor credit risks sent housing prices through the roof, creating the bubble whose bursting has led to this crisis. Congress in 1999 repealed the law (the Glass-Steagall Act) that established a bright line between commercial and investment banks. This meant bad investments by banks could jeopardize depositors. Wall Street created 'derivatives' which multiplied profits in good times, but which also multiplied risk if there were defaults. Most important was corruption and mismanagement at the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage corporation (Freddie Mac), which together controlled 90 percent of the secondary mortgage market. Once your bank has lent you money to buy a house, it can't lend the money again until you pay it back. But if your bank sells your mortgage, it can make another loan right away. Without the secondary market, most of the funds for home mortgages would dry up. Fannie and Freddie went broke because they had bought billions of dollars worth of subprime mortgages, on which borrowers defaulted when the housing bubble popped. Fannie bought most of its bad mortgages from Countrywide Financial, whose CEO, Angelo Mozilo, gave sweetheart loans to senior executives of Fannie Mae. Fannie and Freddie cooked their books so senior executives would be paid millions of dollars in bonuses to which they were not entitled. Inadequate regulation kept the book-cooking from being discovered until the crisis had become a catastrophe. President Bush proposed regulatory reforms in 2003 but Congress took no action. In 2005, John McCain and three other GOP senators proposed a strong reform bill. It died when Democrats threatened a filibuster. When the bill was reintroduced in this Congress, Sen. Chris Dodd, the New Democratic chairman of Banking Committee, refused even to hold a hearing on it. Democrats opposed reform in part because they feared it would mean fewer loans to poor people. 'Fannie Mae and Freddie Mac are not facing any kind of financial Crisis,' Rep. Barney Frank, D-Mass, told the New York Times when the Bush bill was introduced. 'The more pressure there is on these Companies, the less we will see in terms of affordable housing.'  more

Resolved Question: Bankers out there...are you still approving loans for small businesses and mortgages?

I am at a Small Business Development Center conference right now, and we just went reviewed business plans. Our reviews from the commercial bankers were done before the past three weeks, and we were wondering if the companies that got the green light on projects a month ago would still be likely to get the funding in todays situation if nothing has changed on the borrower's end (still have a great business plan and 25% down and good personal credit.) Has there been any official policy changes in the past few weeks?  more

Resolved Question: How would you fix the economy? Please include specifics.?

The government now has 7Billion to "fix" the economy. I guarantee you they will not spend it as wisely as we tax payers would like. So how would you spend it? Would you use it to bail out banks, businesses, small business, people? What would you do? If you want to include dollar amounts, fine, but you don't have to. Personally, I'm not sure what I'd do. For sure I would give some to those who are being wise with their money but are having to pay the price at the pump, in the grocery store, with increased interest on loans not related to the housing market. But I'd also buy some of the mortgage loans too - just not the bottom of the barrel ones. I'd help out small businesses by fixing the commercial paper business. But mostly I think I'd overhaul the rules and regs that let this happen in the first place (which probably has little to do with the 7B I'd be given.) I like all three answers so far. I think the economy would have recovered in time on it's own. But now that we have the money, I think it's time for a fresh start. Let's put together a plan that works and makes sense then hit the reboot button. The new plan can be built on many of the same principles as the current one, but you have to admit there are some crazy financial laws out there. Golden parachutes for one (although technically not a law). Smokey, I like yours too. ...except for the invasion of smaller countries thing. I think the time for expansion through conquest is over. However, I'd be for smaller nations (Hatti for example) becoming a US Territory (without voting rights until things settle down over there), especially once they see how our new plan is working. I really like the idea of increasing foreign taxes. While I agree that there shouldn't have been a bailout in the first place, there was and now we the American taxpayer are going to have to pay for this $7billion dollar monstrosity. I just think that since the government is not going to say - oops, we shouldn't have done that, here Mr/Ms Taxpayer, take the money back, that we should be able to say where the money goes. I'm in perfect agreement that if left alone things would work out on their own given a little time (one to two years), but that's not how things worked out. So now what do we do? How do we spend the money?  more

Resolved Question: Can I buy a commercial property as a residential property?

I am interested to buy a property for my retirement in a remote area so I can reside there. The part of property has commercial area which is a casual restaruant and an antique shop, but the majority of the property is a house. Also, I have no intention of running any of business but I would like to lease them to tenants. Can I still get a loan as a residential mortgage? Thank You for reading my questions!  more

Resolved Question: Is the state of our economy due to the fact that people in power were able to manipulate deregulation?

I believe state of our economy is due to the fact that people in power in business and government were able to manipulate deregulation and leverage the stock market to their advantage. Once upon a time, all mortgages were 20% down, at a fixed interest rate. The people that bought houses could afford houses. People saved money for their down payments. They rarely walked-away from their 20% savings investment in their home. Then, deregulation came along. "Greed Is Good" was the mantra of the day. In order to stimulate the economic marketplace in the late 70's due to a recession, congress passed legislation to deregulate the commercial banking / Savings and Loan industries. Thus, the collapse a few years later in the early1980's of numerous S & L's, due to bad decision making on the part of greedy CEO's who had pushed the deregulation and choose to make bad investments to earn outrageous interest rates. These high-rate, high-risk loans to under-capitalized, high-risk people were made with the banks and S & L's depositors funds - people lost their retirement money, pension plans were wiped-out. But, prior to the Black Monday crash of October 1981 the corporate CEO's rewarded themselves outrageous compensation packages and golden parachutes... do you recall The Keating Scandal? Regulation's were tightened back up... but then in early 2001, the economy went south again... partly due to 9-11. So, to stimulate the marketplace, more deregulation... this time of the mortgage and energy industries. Energy deregulation came very quickly, with V.P. "Tricky Dick" Cheney having the first-ever closed-door, zero-oversight private meetings at the White House of Energy Company Executives to create policy to regulate... the Energy Industry? (think fox guarding hen house...). Too soon after came the spectacular energy industry failures... (remember Enron? Kenneth Lay was a personal FOB, "Friend of Bush" ) and the massive compensation packages awarded to the CEO's by themselves. Then, as in the early 1980's, regulation had to be re-instituted. The mortgage industry took off... everyone was happy... lots of money was made by most everyone... lenders, home owners, home builders, investors, wall street... but, no one in government had the foresight to look toward the inevitable over-correction, the "bursting-of-the-bubble" in the market... we were distracted by the wars in Iraq and Afghanistan... if you're not with us, then you're against us! A primer: Mortgage loans are "bundled" in sets (blocks) of billions of dollars of investments... which had always been traditionally considered as "safe" (remember the down payments that used to be made...?). Lenders then sell these blocks of bundled mortgage loans to large investors, primarily Fannie May and Freddie Mac, quasi "US government-backed agencies" (think the US Post Office, another quasi government agency, overseen by uncle Fed, but run as it's own "company"). This selling-off of the bundled loan packages freed-up the mortgage lenders to create new loans, because they had been "re-paid" when sold to Fannie May & Freddie Mac. When the loans being made were sound, the marketplace worked well... When deregulation or the mortgage industry in early 2002 happened, just about anyone that could fog a mirror and breathe at the same time could suddenly get a mortgage. Previous rules and reg's on lending went out the window. The more loans they made, the more fee's they could collect. Lenders made lots of money, meaning their companies made lots of profit. Wall Street invested heavily in these mortgage securities, which now were weighted-down with the shady, undocumented "B" and "C" grade-paper sub-prime loans. More loans, more fees... more loans, more money to loan out, which were based on these mortgage bundles now loaded with poor-performing loans. This fed the gluttony in America for more and more credit: credit cards, equity loans - borrow, borrow borrow!! The wall street CEO's rewarded themselves handsomely... their companies were making outrageous profits... before they eventually collapsed. I BLAME UNCLE FED FOR THIS MESS - AND I PARTICULARLY BLAME THE REPUBLICANS, who have such a need to deregulate industries to the extent that corporate greed takes-over and fiscal common-sense falls by the wayside. Just because they could deregulate doesn't mean they should have deregulated... when guidelines / rules / regulations go away, greed ALWAYS takes over... EVERY, SINGLE TIME!!!!!!!!!!!!!!! I've worked in Real Estate, Mortgage Banking and as an Escrow Closer for the past 20+ years... saw this disaster coming for the last 5 years... YOUR THOUGHTS?? P.S. - I didn't make the loans, I was an administrative staff-support person... I was personally sickened by the loans being made to the people I knew couldn't repay them... but I couldn't do a damn thing about it, except by getting-out of the industry (that was 4 years ago...).  more

Voting Question: Why should you avoid buying Fannie Mae and Freddie Mac Common Stock?

I’ve been researching and spoke to a few, “financial advisors” the past week on the subject of buying or not buying the common stock of Fannie Mae (FNM) and Freddie Mac (FRE). All of the information I’ve found and heard has been proceed with caution signs or avoid at all costs. I guess I’m just a little confused? I sit here as an average American who considers myself well versed on the mortgage situation, but by no stretch of the imagination a deity of the subject. I sit and think about how vast both companies combined are immersed in the securities that back nearly 50% of all the mortgage liens against properties financed across this great country. Now, on September 16th things probably seemed very grim for the outlook of these organizations. Fannie Mae was trading at .48 cents a share and Freddie was even lower at .26 cents a share. Now, we fast forward 10 days later and Fannie is probably going to close today, September 25th, at $2.50 per share and Freddie has improved its stance against Fannie to close around $2.75 per share. For the average America able to scrap up roughly $500- $1,000 this looks like a miss opportunity, because the way I see it is that $500 split across both companies would have secured roughly 900 shares of one company and 500 of the other, so basically 1,400 shares combine. Today those 900 shares of Freddie would be worth $2,475 and the 500 shares of Fannie would be $1,250, thus a $500 investment would be $3,750 only 7 business days later. Like I mentioned before… I’m looking for some insight out there… play the devil’s advocate if need be, but please express some real true thought, not what AG Edwards, Edward Jones, Merrill Lynch, or any other investment firm would express or tell you…because we live in an unprecedented time where Americans need to start thinking with their own innovative thoughts or ideas, which should not necessarily be influenced by some financial institution or bank. All around us we see 100+ year old companies riding a current with a destination of Davey Jones on the other end. If you think about Fannie Mae and Freddie Mac they must be here in some form or shape correct? I mean they hold a lot of securities that will require servicing somewhere. They are both companies that will require extra operational capital and not just tax payer bailout monies to do so, correct? What am I missing here?? I don’t necessarily understand the seize that the government put on some certain form of short-selling, does it mean you have to buy and hold the stock for some period of time? If so what is that period of time? As commercial mortgage securities start to fail, just like the residential mortgage won’t we go through another bailout? Won’t monies have to be generated in some other form besides taxpayer dollars? I know for some people $3,750 may not sound like much monies, but for the average American that could of scrapped up $500 and turned that monies into $2,500 - $3,000 walk away earnings that could make a huge difference. I understand not everyone could buy and sell right away…and not all would. BUT… these stocks have only continued to climb. Will it fall and do this again or where opportunities missed, or was avoiding this subject all together the right answer? Best advise I got this week, “You can’t steel 3rd with your foot still on 2nd base.”  more

Resolved Question: Wouldn't this have been better than what President Bush actually said?

I just read the entire text of President Bush's address last night and I grade his effort "D" at best. He did not make the case that needs making. Here's the real skinny and what I think President Bush should have said and one -- My Fellow Americans: The annual yield on treasury bills fell yesterday to 44 basis points. at times yesterday, it was negative. This shows that companies and people with more money than FDIC insurance covers aren't willing to deposit it at the banks, nor are they willing to buy commercial paper with it. Without funds from deposits or commercial paper, the banks don't have the money to make ordinary loans to their regular customers, even if the regular customer's credit is good. I'm thinking of the local grocery store that borrows on Friday to pay their employees and repays the bank each Monday from the weekend's receipts. Without funds available to the banks, they can't make even good loans to regular customers. Many people think the bank's executives and managers should be fired for making all these bad mortgage loans and thus they want to deny this bailout program until the banks are being run better. America does not have the time to wait for that to happen. Booting the bank managers would require us to let the banks fail first. It is illegal to simply take over the banks unless and until they stop functioning. If the banks stop functioning, America's payments mechanism would stop. That means that your credit cards, your debit card, and your atm card would not work. No one would take your check because they couldn't know if your bank will be able to pay it tomorrow. If that happened, you would not be able to buy groceries or gas or anything unless you had actual cash. This would cause the total volume of sales to plunge, perhaps to only 1/3rd or less of regular levels. And then employees would be laid off, and every business that couldn't withstand a huge decline in sales would go bankrupt. If you and your extended family has four workers in all, I'm talking about one of them losing his job and a second being told her wages are now 1/3rd less than what they were, or she loses her job too. This is what we must prevent -- America's payments mechanism must continue to operate. If this means that we have to accept that some executives and managers who deserve to lose their jobs get to keep them because they are also the payments mechanism, that is a price we simply have to pay. Loans whose value is unknown must be reduced to less than the amount of capital each and every bank has on hand. Since the financial markets have already shown that they will not provide more capital to the banks, someone has to remove the questionable loans from the banks' assets. This is what the program my administration has proposed will do. And the only entity with enough size to do that for the entire economy is the Federal government. To make sure there is enough time for Congress to act, I have asked the Securities and Exchange Commission and Federal Reserve to immediately declare a banking holiday. They have agreed to do this. All banks, stock markets, futures markets, stock brokerages, and similar enterprises all across America will be closed tomorrow. They'll stay closed until Congress acts. It is very likely that your credit cards will not work tomorrow. Your debit cards and atm cards probably will not work either. And stores may refuse to take your check. Banks and markets will re-open when there is reasonable assurance for their depositors and ordinary creditors that these weak assets will not cause the banks to fail and take away their deposits and short term lendings. Our prayers are with America tonight and every night, thank you and good night. *** Well, that's what I think the President should have said and done -- what's your opinion? I started working in banking in 1970. along the way, I earned MBA and CPA. I've seen economic booms and busts related to real estate lending since my first bust in 1973. This is by far the worst situation since then.  more

Resolved Question: how can congress do this?

With Goldman Sachs and Morgan Stanley becoming commercial banks, and the other three big investment banks/brokerage houses being acquired by commercial banks, politicians and the press won't have Wall Street to kick around anymore. Headlines now shout about a $700 billion "Bailout for Wall Street." Yet strictly speaking, Wall Street as we knew it no longer exists. The conversion or absorption of all five of Wall Street's big investment banks into commercial banks raises several intriguing issues. First of all, the financial storms over the past year have -- before last week -- been largely confined to securities markets and to interbank loans among commercial and investment banks. Bank loans to commercial and industrial business, real estate and consumers continued to expand nearly every month. Commercial and industrial loans exceeded $1.5 trillion this August, up from less than $1.2 trillion a year earlier. Real-estate loans exceeded $3.6 trillion, up from less than $3.4 trillion a year ago. Consumer loans were $845 billion, up from $737 billion. Credit standards are tougher, which is surely a good thing, but interest rates for creditworthy borrowers remain low. The ongoing slow but steady availability of bank credit helps explain the much-remarked contrast between Wall Street and Main Street -- the shaky condition of exotic financial markets compared with relatively benign statistics for industrial production, retail sales, employment and the rest of the nonhousing economy. Most people go about their business without depending on investment banks or exotic varieties of commercial paper. Second, recent events highlight the absurdity of the attempt by several pundits to blame recent problems on "financial deregulation." That complaint was aimed at the Financial Modernization Act of 1999, which passed the House by a vote of 362-57 and the Senate by 90-8, yanking the last brick out of the 1933 Glass-Steagall Act's regulatory wall between commercial banks and investment banks. If it was somehow possible in today's world of global electronic finance to the rebuild such a wall, that would mean J.P. Morgan could not have bought Bear Stearns, Bank of America could not have bought Merrill Lynch, Barclays could not buy most of Lehman, and Goldman Sachs and Morgan Stanley could not become bank holding companies. It is hard to imagine how things would have worked out in that situation, but it surely would not have been an improvement. Since the 1933 regulatory wall has collapsed as definitively as the Berlin Wall, all the giant financial conglomerates now face oversight and regulation by the Federal Reserve, the Securities and Exchange Commission, the Comptroller of the Currency and the Federal Deposit Insurance Corp. Innocents who seek security in regulation need to recall, however, that not one of those august agencies exhibited timely foresight or concern about the default risk among even prime mortgages in some locations, or about any lack of transparency with respect to bundling mortgages into securities. People do not become wiser, more selfless or more omniscient simply because they work for government agencies. Wall Street was always a metaphor, of course, but so are words like "bailout" and "toxic" debt. Nationalization of Fannie Mae and Freddie Mac was a bailout for creditors (who received windfall gains), not for stockholders or executives. The federally enforced shotgun marriage between J.P. Morgan and Bear Stearns at the initially ridiculous price of $2 a share was no bailout for Bear. The 11.3% federal loan to AIG, contingent on the potential expropriation of 80% of shareholder value, is no bailout either. By contrast, what was done to stop a run on the money-market funds is a real bailout which could encourage them to hold risky paper and also make it tougher for commercial banks to attract deposits. The proposal to buy up mortgage-backed securities is a bailout too, though the beneficiaries are not just the tattered remains of Wall Street. The bailout consists of shifting the risk of loss to taxpayers. Actual losses could not reach $700 billion unless the securities were literally worthless, which would mean the value of the underlying real estate fell to zero. What was "toxic" for investment banks is not equally toxic for the Treasury Department because the government does not even bother to keep a balance sheet, much less abide by mark-to-market accounting rules. A powerful motive for converting investment banks into commercial banks is to get around those onerous balance-sheet rules that required fire-sale pricing of securities that were virtually unmarketable during a panicky scramble for liquidity. Strict adherence to those rules made patience a vice and a "buy and hold" approach impossible. This confirms what many of us have long been saying about the foolishness of letting arbitrary bookkeeping rules dominate economic reality. Turning Wall Street into a bunch of com  more

Resolved Question: I would like to set up a Bed and Breakfast and would like advise on my finance options?

I understand if I buy a business which is currently operating i need a commercial mortgage, however is it possible to buy a house on a normal mortgage then convert it into a bed and breakfast, do normal lenders such as Halifax allow you to do this?  more

Voting Question: Why are commercial banks buying out or merging with Investment banks now? ?

I mean I hear about all the financial crises going on but I'm not understanding it totally. I believe some of these investment firms are going belly up due to some bad debt resulting from mortgage payments or people who were not able to pay their part? I thought most of these mortgage payments from commercial or resident loans for home or business were taken from banks and not the investment banks? Why are the commercial banks in the position to purchase these companies? How will it benefit them? Please do explain if you can. Thank you!  more

Resolved Question: Are Republics so stupid as to believe that it's the unqualified buyers fault for this credit crisis?

You Republics can't see through the Propaganda. This crisis is the classic ponzi scheme. It's not the people who signed the papers, it's the alleged professionals who authorized the loans because the were paid on quantity rather than quality. Before the ink was dry, it was bundled and sent to Wall Street. Only stupid people couldn't see this coming and while the people who signed the loan are partially responsible, it's the fiduciary duty of the loan officer to do the due diligence in approving the loan. Let's realize that this is what happens when you let the wolves guard the hen house. Look into Phil Gramm's (McCain's economic adviser) background with the "Enron loophole" and his legislation to allow commercial banks into the mortgage securities business and you'll find the beginning of this problem.  more

Resolved Question: Anyone else TICKED of @ the take over of Fannie Mae and Freddie Mac?

This entire economy has ticked me off! And I think it is completely obnoxious for ME a taxpayer to bail them out...@ this point I don't care about the collapse of this economy...I've adjusted really well to scrapping and scambling to get by...when my business failed in January NOBODY came to bail me out! No one offered to help me buy food or put gas in my car! It makes me even more angry to think that these companies...CHEATED millions of Americans out there homes(I understand that they (homeowners) should have read the "fine" print and not gotten into mortgages that they couldn't afford...but I can't be the only american to remember that less than 5 yrs ago- buying a house was the "american" thing to do...the commercials they had on tv almost seemed to indicate that you were unamerican if you didn't buy a home...because there was soooo much "help" out there to get you into one) This may seem like a silly rant...but im in my early 20's and this whole situation has me sooo angry...not just for me...but folks with kids and more responsibilities than me...I don't care what happens 2 the economy...because God will supply all my need...but how dare Bush takeover these companies...and don't even ask ANYBODY... I guess my business was just a drop in the bucket...but its on the hard labor of folks like me...who carry America...end of rant :) No...I dont think you know what you are talking about... the Taxpayers will bail them out one way or another...to help stop the domino effect...thank you very much  more

Resolved Question: Buying a B&B in France?

Can anyone give me any advice pls. I have seen 2 properties in France that are already established B & B`s and i want to buy one to run as a business & move over to France permanently. However when I called around about mortgages I got a real shock. It is proving impossible to get one. They say I need a regular income (which I wouldn`t have apart from my new venture) I can`t seem to find a UK bank that will give me one either as its classed as a commercial property Any advice pls as to what I can now do. I`m devastated as all my plans have gone up in smoke Many thks in advance for any ideas/advice  more

Voting Question: Working in the mortgage business?

So, Real Estate has always sparked my interest a lot. Currently I am working on my bachleor degree in business marketing, but I really would like to work and make money while going through college. I got one job at a mortgage broker place, but it didn't work out because my boss wasn't willing to train me, and never communicated. Anyway, I met this lady in my neiborhood who also does loans. She said that she is so busy because she does residential and commercial, and needs some help. She also said that she would help train me. She also said that she works from home, and makes around 90,000 a year. Is this too good to be true? I would love a job like this to where I can work mostly from home...and, I know I can do it...as long as I have the right training. Should I take her up on her offer? also, i am not looking to make 90,000 a year. She has around 10 years of expirience, so I know that is not realistic for me who is just starting off. But, if I could make between 30-40,000 it would be terrific! thanks for answering!! Well, right now I currently do not work. My husband and I basically live paycheck to paycheck with a little money left over, but not much. So, anything I make is extra money, and I plan on always saving a chunk that way when I make 0 in one month I am covered. Plus, it wouldnt be any different than now?  more

Resolved Question: Could someone explain these terms or just a part of them? - sources of finance for business.?

Could someone explain these terms for me? Thank you! Hire purchases Venture capital Share issued Commercial mortgage Business Loan Overdraft Debt factoring Sales of assets Owners’ capital  more

Resolved Question: Business Angels/Invesments?

I am looking for investment for my new Commercial Mortgage Brokers and need funding of around £25,000. I was wondering if you knew any "dragons den" type people or any other ways in which to raise investment other than going to a bank. I have a full business plan and have had my company valued. Any help would be great!! xx  more

Voting Question: How do I start a business in NJ?

My husband wants to open a auto repair shop, and I want to know how to do it. What needs to get done what are the steps I know we need to get a mortgage, but where do we go from there?? Is there sucha thing as the minority grants for businesses? How can we get free money from the government(like they say) to start a business? I'm looking for step by step instructions. I feel like when I call about a commercial listing to the real estate agent she sounds like I'm wasting her time. Please HELP!!  more

Resolved Question: What will McCain do about our economy and the housing crisis?

McCain on the Housing Crisis: Quick, Do Nothing! Don't just do something, stand there! And wait for somebody else to suggest a course of action. That appears to be John McCain's approach to the housing credit crisis. On Tuesday, he delivered what his campaign billed as a major address on the housing crisis. What made it notable was that it contained nothing notable. McCain started off stating the obvious: there was a housing bubble: "speculators move into markets, and these players begin to suspend the normal rules of risk and assume that prices can only move up -- but never down....The normal market forces of people buying and selling their homes were overwhelmed by rampant speculation. Our system of market checks and balances did not correct this until the bubble burst." Lenders went wild and some Americans bought homes they could not afford. And, he added, "the housing bubble was made worse by a series of complex, interconnected financial bets that were not transparent or fully understood....Because managers did not fully understand the complex financial instruments and because there was insufficient transparency when they did try to learn, the initial losses spawned a crisis of confidence in the markets." Anyone who watches a cable business show--even only during the commercial breaks on American Idol--knows this. The question is, what would a President McCain do about it. Short answer: not much. "I will not play election year politics with the housing crisis," he declared, adding, "I have always been committed to the principle that it is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." That's a fine sentiment. Tough love. Let the markets take care of things. But does he have any idea how to make the system work better? How to make sure that people victimized by predatory lenders have a shot at solvency? How to ensure that whole neighborhoods don't collapse? Not really. Instead McCain only offered guidelines for what might be acceptable; he did not offer any specific initiatives: In our effort to help deserving homeowners, no assistance should be given to speculators. Any assistance for borrowers should be focused solely on homeowners, not people who bought houses for speculative purposes, to rent or as second homes. Any assistance must be temporary and must not reward people who were irresponsible at the expense of those who weren't. I will consider any and all proposals based on their cost and benefits. He called for greater transparency and a high standard of ethics in the mortgage business and noted that home buyers ought to provide "responsible" down payments. "I am prepared to examine new proposals and evaluate them based on these principals," McCain said. In other words, let someone else come up with a good idea. McCain did call for a "meeting of the nation's accounting professionals," and he urged the top mortgage lenders "to do everything possible to keep families in their homes and businesses growing." But his general approach was clear: hands off. He's not offering much to voters who are hurting financially or nervous about the housing crisis. If this is a preview of McCain's fall campaign, Democrats ought to be heartened. Assuming that economic insecurity will be an issue in the general election, will voters be hankering for a laissez-faire champion who says that the markets will sort it all out and who is willing to do no more than to beseech big financial firms to do right by the little guy and gal? McCain's speech signaled he might be even less of an economic activist than George W. Bush. If so, that could set up a fall contest reminiscent of the Bill Clinton-George Bush match of 1992--whether or not a Clinton is involved.  more

Resolved Question: TX Girl Needs HELP!! I am being SUED!?

I rented a commercial space last 02/07, & couln't afford to keep the lease because my business was a mortgage office. I had to move out, and didn't finish the term of my lease. I just got papers that I am being sued, and I dont' have any money, or can't afford to hire an attorney. I am a single mom of 2, that was trying to start my own business, and busted short months after. If anyone has any suggestions as what I can do, I would GREATLY appreciated. I have never been through anything like this before and I am VERY concerned as how this will affect me now, and in years to come. PLEASE NEED HELP!!  more

Resolved Question: Commercial Mortgage Broker Rates?

I have a have a small business with a balloon coming due. I have never seeked a commercial loan. Being a small business I am not the perfect SBA or stated applicant. A commercial Consultant is telling me it is standard in the commercial industry to have an agreement with a 2,000 retainer and a 4.25 vig upon closing. If no closing takes place no fee is charged. Industry standard practice and proper rate Yea or Nah? Thanks  more

Resolved Question: Commercial real estate buying and finance compared to residential?

To be in a position to purchase a free standing small office building, downtown, eastside, heart of lasolas, riverfront... all of it...At a time folowing the sub prime collapse, and bolstered furtther with a built in tenant, in my own business... and lastly being positioned such that no need to sell in this market dip is necessary to accomodate a buy. As my header suggests, the question or wonder is about the lines or terms, or any other factor regarding finance and mortgage. Homes I have done many times, sell or buy that is.... But what of commercial and business endeavors? Credit, established and stable, assetts ect... so no qualification issues are forseeable. Given these broad strokes, ..what can I and what should I know or research about this. I'd ideally like to transition as painlessly as is realistic, Any pit. What is the floor for the down payment these days? Are the mechanics for an office different than for residential? What should I expect? ; terms ect..?..any pitfalls?  more

Voting Question: Emergency help about my properity heloc loan please reply?

Heloc Emergency help about my properity ??? i have commercial properity , i have buy three years ago . about $ 22000.00 this properity have no mortgage . i have pay by cash . properity need a lot of work about $40000.00 yrly tax is $ 3000.00 bank of approved about $60000.00 HELOC LOAN .. properity have a same value about $23000.00 if i leave the properity as is it . and spent $60000.00 heloc for other business development is ok or not for me if do renovation on my properity . i am no think so it will be sold very quick . even on this area rent is not high after a lot of investment rent may be 500.00 per month .. what should i do ???? Help can i use money for FOR BUSINESS $60000.00 or leave the properity for bank ?? thanks for reply  more

Resolved Question: the kamal karna roy strategy to close gap of right viz leadership viz u s president 08 elite vs. have_nots ?

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Resolved Question: Small holiday home site buy - what type of mortgage? Commercial, business or buy to let? Help, please?

We would like to buy a small holiday park in the UK. What kind of mortgage should we be approaching the bank for? We're not sure if it should be buy to let, a commercial mortgage or a business mortgage. Any suggestions would be welcome. Thanks  more

Resolved Question: What would be a good business to start in a depressed area?

Our areas economy is going down steadily, we're in western upper Michigan, in the last several years we've lost about 8 businesses. Including my laundromat in Dec. O7. I now have an empty commercial building that has a large mortgage and no serious buyers/renters have looked at it in 4 years. Any ideas what I could put into the building that does not rely on the areas people? The wife and I both now have full time jobs to attempt keep on top.  more

Resolved Question: Is anyone worried about a depression?

Debt Macroeconomists, including the current chairman of the U.S. Federal Reserve Bank System Ben Bernanke, have revived the debt-deflation view of the Great Depression originated by Arthur Cecil Pigou and Irving Fisher. In the 1920s, in the U.S. the widespread use of purchases of businesses and factories on credit and the use of home mortgages and credit purchases of automobiles, furniture and even some stocks boosted spending but created consumer and commercial debt. People and businesses who were deeply in debt when a price deflation occurred or demand for their product decreased were often in serious trouble—even if they kept their jobs, they risked default. Many drastically cut current spending to keep up time payments, thus lowering demand for new products. Businesses began to fail as construction work and factory orders plunged http://en.wikipedia.org/wiki/Great_Depression While reading the history, I was struck by the simalarities to what is happening today.  more

Voting Question: Need help and to start Ironing service, a business.?

We bought a house last month and moving in next week. We both work fulltime but paying mortgage is very difficult these days as the interest rates have gone up many times. We are planning work during week ends. If we buy Commercial Ironing Equipments, and work on saturdays / sundays, provide pick up/delivery service and some alteration if required. Do you think we can make enough money to pay off starting cost and save some money to pay mortgage? Our location is SOR. Any chances to develop the business, I mean full time work? My wife is a sewing machinist. Will people trust us as new immigrants, do we need police clearance? Do we need to register our business and do we need TF number? If you have any knowledge in ironing work, it will be very helpful to us. Thanks  more

Resolved Question: Looking for information on a corporation owning a property and the tax system for NYS.?

I know confusing right??? It gets worse. LOL!!! I have requested the opinion of a second accountant to make sure we are on the right track The situation: We are opening a business and have bought a residential property that is being converted into a commercial property. The business won't be operational for several more months (and this will be it's own corporation) and we were told we would need to set up a management corporation to handle the property itself. The other corp (new business) will have to rent from this corp. However, there are tons of stipulations with this. We need to gross less than 100,000.00 to be able to deduct expenses associated with the property, we can't claim the mortgage etc. So, in order to get this business up and running we have a lot of expense coming our way. Is there any other way to do this? Something far less confusing and something that will allow us to claim all our expenses without a cap etc. I would appreciate any thoughts.  more

Resolved Question: what are these? they are scaring me!?

what is a business account? what is a commercial mortgage? are they the same thing or are they different, please explain....im very confused  more

Resolved Question: Could someone please explain a commercial mortgage, the deposits and if it goes off business earnings, thanks.

Also is it very different from a residential mortgage.  more

Resolved Question: Can anyone come up with a creative "bullet" tag line for my company?

The company's name is "Full Sail Financial". I'm a Commercial Mortgage Broker arranging commercial real estate financing for business owners and investors. Properties we financed are apartment complexes, office buildings, auto facilities, industrial buildings etc. I'm in the process of creating marketing materials and building a web site and trying to come up with a catchy tag line. I appreciate anyone's input at this time. Here are some flimsy examples we have come up with: Financing Your Success; Commercial Financing at It's Best; Financing the Entrepreneur Dream; Supporting the Entrepreneur Spirit; Your Success is our Success; Your Profitability is our Success; Creative Financing with Integrity to list a few. Appreciate anyone's input!  more

Resolved Question: Has the liberal media reported how the Democrats mislead you?

DEMS' POSTER KIDS: BOGUS BEGGARS By MICHELLE MALKIN October 10, 2007 -- A FEW weeks ago, Democratic Senate Majority Leader Harry Reid lured two young children to the spotlight to help him pass a huge expansion of government health insurance. Gemma and Graeme Frost, 9 and 12 years old, were severely injured in a car accident three years ago. Their parents obtained government health care through the non-means-tested Children's Health Insurance Program in Maryland. President Bush's veto doesn't change that - and there's the rub. Because liberal lawmakers cannot honestly defend their expansion plans as bona fide aid to the needy, they've surrounded themselves with the Frosts and other kiddie human shields to deflect any tough scrutiny. As they push for an override of the president's veto, scheduled for Oct. 18, the desperate Dems will shamelessly invoke the kiddie card to attack their critics for "attacking the children." After 12-year-old Graeme Frost delivered the Democratic radio address, which was penned for him by Senate staffers, conservatives across the Internet asked the questions the mainstream media wouldn't ask about the family's financial situation. The couple claims an annual income of about $45,000. Neither the Democrats nor the Baltimore Sun indicates how they verified that assertion before circulating it. What is verifiable: The Frosts own a home in Baltimore purchased for $55,000 16 years ago - and now worth an estimated $300,000. That's a lot of equity. In addition, the children's father, Halsey Frost, owns commercial real estate and his own small business, but chose not to buy health insurance for himself and his wife, whom he hired as an employee. She now apparently works freelance at a medical-publishing firm, which also reportedly doesn't offer insurance. Gemma and Graeme both attend costly private schools; the Frosts have two other school-age children. Reid's staff says Gemma and Graeme get tuition breaks. But it's not clear when those scholarships were instituted and/or whether the other two receive tuition aid. Moreover, Frost's family comes from considerable means. The children's maternal grandfather was an engineering executive. Their paternal grandparents hail from affluent Bronxville, N.Y., where the grandfather is a prominent consultant. In other words: The public trough is not Halsey Frost's last and only resort. The accident was horrible. The children deserve sympathy and compassion. But this family made choices. Choices have consequences. Taxpayers of lesser means should not be forced to subsidize them. The Frosts claim it would cost them more per month than their mortgage, reportedly $1,200 a month, to buy private insurance. But insurance bloggers quickly found available plans for a family of six with premiums as low as $452/month. Graeme and Gemma Frost are not the first political symbols to be exploited by socialized health-care pushers. In 1996, Hillary Clinton trotted out young Jennifer Bush, a 7-year-old with mystery ailments whose mother coached her to lobby for universal health care. Jennifer's mom was later convicted of aggravated child abuse and welfare fraud for misrepresenting $60,000 in assets on Medicaid forms. In 2000, Al Gore propped up elderly widow Winifred Skinner to lambaste high drug prices. Gore repeated her claim that she had to pick up cans on roadsides to pay for medicine. Dan Rather bemoaned: "She's no child, but she belongs on a poster about high drug costs." One problem: Winifred's own well-to-do son, businessman Earl King, debunked those claims. In 2004, John Kerry propped up Mary Ann Knowles, a breast-cancer patient whom he claimed "had to keep working day after day right through her chemo- therapy . . . because she was terrified of losing her family's health insurance." The Manchester Union Leader editorial page reported: "Knowles chose to work through most, but not all, of her chemo- therapy because her husband was out of a job. . . . She and husband John did not want to take the pay cut that would have come with disability leave, so Mary Ann kept working." The Democrats sorely resent that they can no longer peddle their Big Nanny propaganda unchallenged. Reid is throwing tantrums and attacking the messengers who expose their health-care poster-child abuse. Here's a free prescription for our stunted politicians: Grow up.  more

Resolved Question: Refinancing Mortgage?

I want to refinance my mortgage but I live on Highway commercial property and I run a business out of my home. I can not find any one who will refinance me because of the business. I live in PA does any one know a company who can. Please Help!  more

Resolved Question: Why are Americans so fat?

Is it because the meat and dairy industries have brain washed them into believing meat, cheese and milk is good for them? Fast food, cars and Walmart? Why does every second commercial have the phrase "Ask your Doctor?" in it...Is there any corrolation. Does the Drug, Meat and Dairy business have one goal in common that the average American is too blind to see? Why is the US dollar valued so low? Why all the mortgage defaults? The US is getting sick and weak. Solution, don't eat meat? Any comments? tercentenary98 I am concerned about their health, that's all. And I fully blame the Meat and dairy industry. I feel sorry for them, that they have been brainwashed by an industry that feeds off these poor peoples weekness. Cheers  more

Resolved Question: I'm stuck with a HUGE commercial building mortgage and can't sell it. DO YOU HAVE CREATIVE IDEAS??

DETAILS: Bought a large 3800 sq. ft commercial building in 2000 and have run a gift,stationary,craft & office supplies business inside it. The business was gang busters in sales...until two years ago. Now sales & the market are soft. I barely make enough to pay my mortgage. I virtually work for free. Have tried to sell it--lowering my price again and again and realtor for sale sign in side window by busy highway. No bites. I've used Craigslist--no avail. So now I am stuck with a nice condition but large building, a business that is boring and barely breaks even. Can't find renters for a building this large. Can't afford to divide it in half. Savings going down the drain to pay building taxes. Sale of my inventory would not allow me to buy enough for new inventory--building is too large. ARE YOU CREATIVE?? WHAT can I do?? I'm not headed for bankruptcy or foreclosure. I pay my mortgage every month. I just work for free--make no profit. And it's boring, and I'm totally tied down, and make no extra money. Can't afford to close the business down, as I'd still have a large mortgage to pay. Not fun.  more

Resolved Question: New job before closing on our mortgage?

Background, wife and I signed our agreement of sale back in May, commitment was done in July, closing is scheduled for November 15. I work in the commercial real estate business, I have been with my current employer for a tick under 2 years. Colleagues of mine from prior jobs are having me come back in tomorrow to their real estate company after meeting and discussing comp requirements last week if I was to come over. Same industry, similar job title, more pay, would changing to the new job before closing be an issue? Havent discussed yet with my mortgage guy, want it to be more concrete first. I would be going from a salaried position to another salaried position.  more

Resolved Question: How will raising taxes improve our economy?

A batch of economy-wide stats was released Friday morning, covering retail sales, industrial production, import prices, and consumer confidence. The verdict? It’s a 2 percent economy. Call it Goldilocks 2.0. Might the current financial turmoil throttle back growth a little more in the next six months? Yes, perhaps. Will there be some negative earnings surprises, especially from financial companies? Sure. But the bears would have us believe the sub-prime credit virus heralds the end of the world. They are wrong. Remember this: Our free-market capitalist economy is resilient and durable. It has proven time and again that it can take a punch. Sure, recession probabilities have increased. But so what? We’ve had virtually uninterrupted prosperity for twenty-five years, going back to the supply-side economy and technological boom launched by President Ronald Reagan. Since then, we’ve experienced 93 positive GDP quarters and only 5 negative ones. That makes for a truly phenomenal batting average. Consider this: Marginal tax rates are low. Inflation is low. Interest rates are low. And the world economy remains strong. The stock market — which I still believe is the best barometer of the health of business and the economic future — has behaved surprisingly well during this difficult stretch of turbulence. In fact, the sum total of the so-called “bear assault” is only a 4.5 percent correction from Dow 14,000 and other index peaks registered two months ago. Yes, profits are getting sloppy. And yes, there are some credit shocks out there yet to be revealed. However, the Federal Reserve will reduce the cost of money by bringing down its basic target rate on Tuesday. President Bush will veto any Democratic tax hikes. And at the margin, the Iraq War story is taking a turn for the better. Meanwhile, American entrepreneurs are still working hard. Speaking of next Tuesday, the best thing the Fed can do is deliver a big-bang, shock-and-awe rate cut that would bring the basic fed funds target 50 basis points lower to 4.75 percent. At the same time, it should lob a full percentage point off the discount lending rate, cutting it from 5.75 to 4.75 percent. This would be a confidence-inspiring move for all concerned: borrowers, lenders, businesses, consumers, and mortgage holders. Not only will slashing the cost of money add significant new liquidity to the economy, it will raise asset values across the board. The Fed also might think about setting up a special facility for non-bank lending institutions that are experiencing a liquidity squeeze. Perhaps also a temporary liquidity facility for commercial paper lenders. The asset-backed commercial paper market is vital to funding many of the daily operations of businesses across the country, and it’s this market that has been hardest hit. Such monetary front-loading would be very powerful, indeed. However, if the Fed goes small with only quarter-point reductions for fed funds and the discount rate, many investors will have an incentive to withhold money while they wait for interest rates to finally bottom at much lower levels later this year or next. In other words, a timid Fed action might actually prolong and deepen the economic slowdown. This is not a time for small-ball. It’s time for Bernanke and Company to go big. And let’s not forget that taxes are just as important as money. President Bush and Treasury man Henry Paulson should absolutely squash all the Washington rumors of tax hikes, in particular a cap-gains tax increase. If investors expect a hike in the cap-gains tax, they will have every incentive to launch a massive wave of stock market selling. Needless to say, this would be utterly calamitous for the whole economic picture. The animal spirits may have had their wings clipped a bit by the credit crunch, but with the right tax and money policies there is still plenty of sizzle and juice in this story. It’s very easy to be totally pessimistic and bearish right now, but that’s precisely why I will avoid falling into that trap. Optimists are winners. Pessimists are losers  more

Resolved Question: How do you get a mortgage or commercial loan for an apartment building without a lot of capital?

I have found a good business opportunity in a 6 unit apartment building however I am short on capital. Are there any inventive ways to receive funding for such a venture? How did you find the money to buy an apartment building?  more

Resolved Question: I've figured out a way to buy a property w/o having to get a mortgage. Tell me what you think?

Let’s say I want to buy a commercial property for 200K and don’t want to put do 30% and get into an 8 - 10% interest rate commercial mortgage. I own a very profitable company which grosses 1M per year, Bank are always offering this company large loans or equity lines on the business. What if my company borrow me some money, at a fair interest rate of say 5% simple interest and I use it to buy this property ? What are the advantages and disadvantages? From what I can see. I will have lots of money on the loan (interest) and not have to make a large down-payment and I’ll own the properly free and clear. Thanks guys.  more

Resolved Question: I've got a great idea on how to buy a house w/o having to take out a mortage ? What do you think of it .....

Let’s say I want to buy a commercial property for 200K and don’t want to put do 30% and get into an 8 - 10% interest rate commercial mortgage. I own a very profitable company which grosses 1M per year, Bank are always offering this company large loans or equity lines on the business. What is my company borrow me some money, at a fair interest rate of say 5% simple interest and I use it to buy this property ? What are the advantages and disadvantages? From what I can see. I will have lots of money on the loan (interest) and not have to make a large down-payment and I’ll own the properly free and clear. Thanks guys.  more

Business Commercial Mortgage Article

First Data and European Banks Team Up to Expand Eufiserv's

EUFISERV formerly operated an ATM card scheme that provides cardholders from member banks with access to cash at more than 60,000 ATMs in nine European countries. In line with SEPA requirements, the EUFISERV card scheme has already been spun off into a separate company, EUFISERV Payments SCRL. Upon closing of the transaction, First Data will acquire a 50 percent equity stake in EUFISERV's interbank processing business, which will be renamed to reflect the new joint ownership structure.David Yates, president of First Data's international operations, commented: "First Data has been very active as a processor for both issuers and acquirers of a wide variety of card and consumer finance products. The European payments market is changing rapidly and, with SEPA, we are now seeing a redefinition of national and international transactions as European domestic transactions. more

Should Colleges Be Required to Grade Themselves?

One of that article's contentions is that each college's student recruitment materials be required to include a report card containing such information as graduation rates and average student growth in thinking skills, writing, etc. disaggregated by SAT score bands.

I've been pleased that the article has generated national interest: It has been republished in the Atlanta Journal-Constitution, the Dallas Morning News, and I was interviewed about it on a number of shows including National Public Radio's Talk of the Nation. I've received so many supportive emails from professors, administrators, students, and former students.

The article has also generated many responses in the Chronicle's Forum, not all positive. In this blog post, I list the major criticisms of my call for a required college report card and my response to each criticism:

Criticism #1: “Surely teaching isn't poor at teaching-oriented institutions, of which there are thousands. more

Australia and China speak same language of business

This Telstra survey result on language is consistent with other surveys that show that business culture and language matters when Australian SMEs are engaged in exporting or investment overseas. According to the DHL Export Barometer, 21% of exporters said language was a major barrier to exporting while 30% mentioned different business principles and 29% mentioned the regulatory environment as well as transport and logistics as impediments to further trade.

That's why help with language, business culture, principles and regulation is seen as a major reason why exporters seek government help overseas. Market access is one thing, but there are plenty of "behind the border" barriers that Australian exporters need help with. But despite the language barrier, the Chinese market is expanding at a rapid rate for Australian exporters. more

Business Commercial Mortgage

People who read this also read ... Finances scuttle $5B in NYC development FHA's role expanded in U.S. mortgage fix Committee hears of mortgage lender abuses Foreclosure option: Sure, why not? WASHINGTON, Jan. 5 (UPI) -- Rising vacancy rates in U.S ...

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Commercial properties face bursting bubble - United Press International

Nobody seems to fancy a canter with Lloyds TSB these days. The Black Horse bank was not only the worst performing blue chip in a rising stock market yesterday, but its troubles appear to be mounting as fast as the pound is tumbling. The shares fell 6 ...

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Ungainly retreat for Lloyds TSB seen as plain horse sense - Times Online

Finance Minister Jim Flaherty speaks to reporters prior to pre-budget consultations Tuesday, Jan. 6, 2009 in Montreal. THE CANADIAN PRESS/Paul Chiasson" MONTREAL - The federal government and the country's banks have agreed to form a group to work on ...

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Flaherty says government, banks working to ensure people get loans - Am770chqr.com

Bevan Unrau, senior pastor at Seabreeze Church, in Huntington Beach, Calif. The church bought its building in 2003 with a $5-million loan and is struggling to pay its mortgage, as weekly expenses outpace giving. NYT / J. Emilio Flores After years of ...

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Churches aren’t immune to the mortgage squeeze - Providence Journal

South Florida's residential and commercial real estate markets suffered in 2008, and the new year doesn't figure to offer much relief. Although home sales started picking up this summer, the beleaguered housing market has been hammered by ...

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Commercial property forclosures expected to be next wave in recession - Fort Lauderdale Sun-Sentinel

Most economists do not expect the U.S. economy will go through a depression related to the credit-crisis-mortgage-meltdown-bailout bonanza. Most Americans, however, do. A recent CNN poll finds that nearly 60 percent of Americans believe we're very ...

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15 Hot Jobs in a (Gulp!) Depression - US News and World Report

NEW YORK : Vacancy rates in office buildings exceed 10 percent in virtually every major city across the United States and are rising rapidly, a sign of economic distress that could lead to yet another wave of problems for the beleaguered financial ...

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U.S. commercial property in a downward spiral - International Herald Tribune

People who read this also read ... In tight economy people stay put U.S. home prices drop in month Existing home sales fell in November Commercial properties face bursting bubble TORONTO, Jan. 6 (UPI) -- A Canadian national realty firm predicts a ...

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Forecast: Canadian real estate prices fall - United Press International

The region's commercial real estate market had some ups and downs in 2008. On the upside, companies are making investments in new sites. The first phase of Peninsula Town Center is due to open early this year. On the downside, the economy has slowed ...

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Commercial real estate's 2008 ride was bumpy - Daily Press

(CBS/AP) Pending U.S. home sales fell to the lowest level on record in November, as the plummeting stock market and faltering economy caused buyers to delay their purchases, the National Association of Realtors said Tuesday. The index, which tracks ...

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Business commercial Mortgage Commercial Mortgages – Lloyds TSB commercial mortgage. Property can be a significant cost for many businesses so managing that investment is important. We can offer you a ...

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