Mortgage Repayment Summary
$1,706.64
Monthly Payment
$614,389.46
Total of 360 Payments
$248,660.29
Total Interest Paid
Jul, 2040
Pay-off Date
$112,500.00
Total Tax Paid
$3,229.17
Total PMI Paid
Monthly PMI
31 Monthly PMI Payments
of $104.17 Each
Mar, 2013
PMI Pay-off Date
Monthly Versus Bi-weekly Payments
$1,446.53
Monthly Payment
$723.27
Bi-weekly Payment
Jul, 2040
Monthly Pay-off Date
Oct, 2035
Bi-weekly Pay-off Date
$233,139.46
Total Interest Paid
$190,193.73
Total Interest Paid
Total Interest Savings: $42,945.73
Take Advantage of Historically Low Mortgage Rates Today!
Thursday, August 19, 2010
Monday, July 26, 2010
Buffalo horse property for sale
Description
Spectacular serenity abounds on this lovely gentleman’s estate. 26 acres of rolling wooded and trailed land with 4 stall barn and nutritionally appropriate rotational pastures for horses. Home is completely updated and in move in condition. New roof. Cherry kitchen with hardwood floors and corian counter tops. Open spaces great for entertaining. Finished walkout basement adds to the square footage. A must see for horse enthusiasts.Features
Rooms and Room Sizes* Family Room
* Whole House Generator (supports Electric Fence, barn and home)
* First Floor Laundry
* Living Room
* Master Bedroom Bath
* Dining Room: 16×16
* Kitchen: 29×14
* Family Room: 22×15
* Bedroom 1: 16×16
* Bedroom 2: 16×11
* Bedroom 3: 15×14
* Bedroom 4: 13×13
Property Features
* Style: Victorian
* Cathedral Ceiling
* Ceiling Fan
* Circuit Breakers – Some
* Copper Plumbing – Some
* Natural Woodwork – Some
* Security System Owned
* Two Story Foyer
* Barn
* Deck
* Garage Door Opener(s)
* Vinyl
* Crawl Attic
* Partially Finished Basement
* Walkout Basement
* Blacktop Driveway
* Attached Garage
* LOT LOCATION:HORSES
* Wooded Lot
* Lot Size: 200×26
* Acres: 26.00
* Road Frontage: 200
* Cross Street: Campbell
* Hotwater Heat
* HEATCOOLING:PROGRMTH
Thursday, July 22, 2010
Governor of the Bank of England, fears that America shares many of the same fiscal problems
ervyn King, Governor of the Bank of England, fears that America shares many of the same fiscal problems currently haunting Europe. He also believes that European Union must become a federalised fiscal union (in other words with central power to tax and spend) if it is to survive. Just two of the nuggets from one of the most extraordinary press conferences I have been to at the Bank.
What with all the excitement yesterday over our new Government, I never had time to remark on the Inflation Report press conference. Most of our attention was on what King said about the Government’s fiscal plans (a ringing endorsement). But, as Jeremy Warner has written in today’s paper, it was as if King had suddenly been unleashed. Bear in mind King is usually one of the most guarded policymakers in both British and central banking circles. Not yesterday.
It isn’t often one has the opportunity to get such a blunt and straightforward insight into the thoughts of one of the world’s leading economic players. Most of this stuff usually stays behind closed doors, so it’s worth taking note of. And I suspect that while George Osborne will have been happy to hear his endorsement of the new Government’s policies, Barack Obama and the European leaders will have been far less pleased with his frank comments on their predicament.
The transcript and video are online at the Bank’s website, but below are the extended highlights, all emphasis mine. Well worth checking out.
America, and many other large economies including the UK, share some of the same problems as Greece with its public finances:
Every country around the world is in a similar position, even the United States; the world’s largest economy has a very large fiscal deficit. And one of the concerns in financial markets is clearly – how will this enormous stock of public debt be reduced over the next few years? And it’s very important that governments, both here and elsewhere, get to grips with this problem, have a clear approach and a very clear and credible approach to reducing the size of those deficits over, in our case, the lifetime of this parliament, in order to convince markets that they should be willing to continue to finance the very large sums of money that will be needed to be raised from financial markets over the next few years, at reasonable interest rates.
What with all the excitement yesterday over our new Government, I never had time to remark on the Inflation Report press conference. Most of our attention was on what King said about the Government’s fiscal plans (a ringing endorsement). But, as Jeremy Warner has written in today’s paper, it was as if King had suddenly been unleashed. Bear in mind King is usually one of the most guarded policymakers in both British and central banking circles. Not yesterday.
It isn’t often one has the opportunity to get such a blunt and straightforward insight into the thoughts of one of the world’s leading economic players. Most of this stuff usually stays behind closed doors, so it’s worth taking note of. And I suspect that while George Osborne will have been happy to hear his endorsement of the new Government’s policies, Barack Obama and the European leaders will have been far less pleased with his frank comments on their predicament.
The transcript and video are online at the Bank’s website, but below are the extended highlights, all emphasis mine. Well worth checking out.
America, and many other large economies including the UK, share some of the same problems as Greece with its public finances:
Every country around the world is in a similar position, even the United States; the world’s largest economy has a very large fiscal deficit. And one of the concerns in financial markets is clearly – how will this enormous stock of public debt be reduced over the next few years? And it’s very important that governments, both here and elsewhere, get to grips with this problem, have a clear approach and a very clear and credible approach to reducing the size of those deficits over, in our case, the lifetime of this parliament, in order to convince markets that they should be willing to continue to finance the very large sums of money that will be needed to be raised from financial markets over the next few years, at reasonable interest rates.
Sunday, July 18, 2010
House for sale Near Disney Land
Full Description
REF TPS3
Price: $30,000 / £20,000 / € 24,000 INC ALL FEES
89% price reduction sold in 2007 for $270,000
Buying expenses & fees: included in the asking price
89% price reduction! Sold in 2007 for $270,000
Pool property with garage
Unbelievable price Ideal holiday home
2 Bed, 2 bath Condominium with communal pool.
Close to Disneyworld, Universal & Epcot center.
Mortgages now available, 70% LTV subject to Status, contact us for details
10 miles from Disneyworld and the airport.
Price: $30,000 / £20,000 / € 24,000 INC ALL FEES
89% price reduction sold in 2007 for $270,000
Buying expenses & fees: included in the asking price
Sale type : Bank short-sale, all offers have to be agreed by the bank
Deposit required: $2,000 + proof of funds
Annual property taxes: $655-00
Community fees: $256-00 monthly
Gross income: $750 per month for long term rentals, we can manage & tenant this property for you.
Property summary: Built in 1999 THIS IS AN OPPORTUNITY TO OWN A VACATION GETAWAY IN "MOVE IN" READY CONDITION. It has the benefit of a community pool, tennis courts ect.
Location: Situated in Kissimmee less than 10 miles from Disneyworld, Epcot center and Universal Studios the property is situated near the main highways that gives easy access to all the main locations.
Management: Full management service provided with this property upon request.
Rooms & room sizes (in feet): Living room: 16 x15 ft Master Bedroom: 13 X 11 ft Bonus Room: N/A Family room: N/A Bedroom 2: 10 X 11 ft Kitchen: 10 x 10 ft Bedroom 3: N/Aft Built size: 1,026 sq ft Dining room: N/A Bedroom 4: N/A Lot size: 1,026 sq ft
Exchange rates: Please note that with the ever changing exchange rates
we have used £1=$1.50 & €1= $1.25 for guidance only, as all property prices are set in USD.
we have used £1=$1.50 & €1= $1.25 for guidance only, as all property prices are set in USD.
We are not pressure sales people, we like to be judged on our merits so we invite you to contact us, whether you are a serious buyer or just curious. Contact us today to reserve this property or speak to one of our Florida team
Now is the time to invest in the USA.
Thursday, July 15, 2010
Palace for sale in London Uk
An outstanding seven bedroomed house situated in this prestigious Chelsea location benefiting from spacious south-facing reception room and a large roof terrace with views over the beautiful Chelsea Physic Garden .
The property is in excellent condition following a recent refurbishment and also comprises second reception room, contemporary kitchen with integrated appliances, seven bedrooms with plenty of storage space and stylish en suite facilities, two bathrooms, swimming pool with mood lighting, private garden, conservatory and an amazing roof terrace .
Cheyne Place is conveniently located moments from the river, boasting picturesque views and is close to the many amenities of King's Road .
The nearest underground station is Sloane Square (Circle and District lines) .
Motorists can gain access out of London via the A4/M4 with links to Heathrow and the west.
Tenure:
Freehold
Local authority:
The Royal Borough of Kensington and Chelsea
Council tax:
£1,559 per year (Band F)
Total Sq Ft:
6,360 (590 Sq M) approx.
Friday, July 9, 2010
Mortgage and Property Blogspot presents property auctions in Uk
Mortgage and Property Blogspot presents property auctions in Uk
Property Auctions & Services
House auctions are becoming an increasingly popular way of finding a new home or property investment at a bargain price. To discover the hidden market of property auctions and start your search for a new house or home through a UK property auction house, simply click on auction property
Property auctions also have a number of unique advantages over selling your house or home through Estate agents. Selling property at auction, through one of the UK’s growing number of property auction houses, is not only quicker, more straightforward and cheaper than through an estate agent but you also benefit from receiving an Immediate deposit and completion within 28 days, ensuring you the security when a bid has been accepted.
You can now auction your property through UK Auction List, whether it’s a residential house, a development site or a commercial premises, our property auctioneers will be happy to discuss your requirements. Click here to find out how to sell property at auction or for further property sales enquiries please click here.
In addition to providing the most up to date property auction information and property sales service , through UK Auction List you can receive financial advice , mortgage information and loan deals that will help you to buy or sell your house or property at auction.
Do you need a home information pack , conveyancing or general legal advice? UK Auction list has also enlisted the expertise of a leading legal firm to provide advice and assistance when buying or selling your house, home or property at auction.
Property Auctions & Services
House auctions are becoming an increasingly popular way of finding a new home or property investment at a bargain price. To discover the hidden market of property auctions and start your search for a new house or home through a UK property auction house, simply click on auction property
Property auctions also have a number of unique advantages over selling your house or home through Estate agents. Selling property at auction, through one of the UK’s growing number of property auction houses, is not only quicker, more straightforward and cheaper than through an estate agent but you also benefit from receiving an Immediate deposit and completion within 28 days, ensuring you the security when a bid has been accepted.
You can now auction your property through UK Auction List, whether it’s a residential house, a development site or a commercial premises, our property auctioneers will be happy to discuss your requirements. Click here to find out how to sell property at auction or for further property sales enquiries please click here.
In addition to providing the most up to date property auction information and property sales service , through UK Auction List you can receive financial advice , mortgage information and loan deals that will help you to buy or sell your house or property at auction.
Do you need a home information pack , conveyancing or general legal advice? UK Auction list has also enlisted the expertise of a leading legal firm to provide advice and assistance when buying or selling your house, home or property at auction.
Wednesday, June 30, 2010
House for sale in Tempa Florida
Saturday, June 26, 2010
Refinance your home loan?
Do the lowest mortgage rates since the mid-1950s mean it's a good time to refinance your home loan?
That depends mainly on what rate you have now — and whether you're planning to move anytime soon. Experts advise weighing your options carefully.
Mortgage rates fell this week to their lowest point on records that mortgage company Freddie Mac has kept since 1971. The average for a 30-year fixed-rate loan sank to 4.69 percent. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.
The last time long-term rates were lower was in the mid-1950s, when they averaged around 4.6 percent. Those loans typically lasted 20 or 25 years, unlike today's standard 30-year fixed mortgage.
Here are some answers to common questions about refinancing mortgages.
Q: How much does refinancing cost?
A: It can cost several thousand dollars. Typically, there's a fee that goes to the mortgage broker or lender, plus fees for title insurance, a new appraisal, document processing and other charges.
But brokers or lenders have ways to make upfront charges invisible to borrowers. They can, for example, create the appearance of a "no fee" mortgage by adding the costs to the total loan amount or by charging a slightly higher interest rate.
Q: So will refinancing my mortgage save me money?
A: That depends on how soon you want to sell. Let's say you have a $200,000 loan. If you're able to cut your rate from 5.5 percent to 4.69 percent, your monthly principal and interest payment will drop by about $100 — from about $1,135 to about $1,035.
But if your lender charges fees of $4,000, it would take more than three years to break even. The deal would make sense only if you planned to stay longer than three years .
Q: What kinds of loans are available?
A: Since the subprime lending bust, most lenders have eliminated the riskiest loans. These included loans that let borrowers make only interest payments for the first few years. Other risky loans required no down payments or proof of income. The Federal Housing Administration lets buyers get loans with down payments of at least 3.5 percent. That's how most first-time buyers are able to get mortgages these days.
Q: What's the difference between a loan modification and a refinanced loan?
A: Loan modifications are for borrowers who are behind on their mortgage or on the verge of falling behind. They involve a reduction in the interest rate or a temporary break on payments. By contrast, a refinanced loan is an entirely new mortgage, often made with a different lender.
Here are Some of my Favourite Links
Top Class Air Duct Cleaning
Offshore marketing services The Call Experts
Information aritcles general tips. The Articles Direct
Top Class air Duct Cleaning Brampton
Top Class air Duct Cleaning Ajax
Top Class air Duct Cleaning mississauga
Top Class air Duct Cleaning Toronto
Top Class air Duct Cleaning oakville
creeper1122 blogs
telemarketing how to
wonderful getaways
Latest movies and dramas blog
khan.vicky blogs
Mobile Phones club
Call Center Softwares
Mortgage and Property Blog
creeper0101 blog
O Desk for all information articles
That depends mainly on what rate you have now — and whether you're planning to move anytime soon. Experts advise weighing your options carefully.
Mortgage rates fell this week to their lowest point on records that mortgage company Freddie Mac has kept since 1971. The average for a 30-year fixed-rate loan sank to 4.69 percent. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.
The last time long-term rates were lower was in the mid-1950s, when they averaged around 4.6 percent. Those loans typically lasted 20 or 25 years, unlike today's standard 30-year fixed mortgage.
Here are some answers to common questions about refinancing mortgages.
Q: How much does refinancing cost?
A: It can cost several thousand dollars. Typically, there's a fee that goes to the mortgage broker or lender, plus fees for title insurance, a new appraisal, document processing and other charges.
But brokers or lenders have ways to make upfront charges invisible to borrowers. They can, for example, create the appearance of a "no fee" mortgage by adding the costs to the total loan amount or by charging a slightly higher interest rate.
Q: So will refinancing my mortgage save me money?
A: That depends on how soon you want to sell. Let's say you have a $200,000 loan. If you're able to cut your rate from 5.5 percent to 4.69 percent, your monthly principal and interest payment will drop by about $100 — from about $1,135 to about $1,035.
But if your lender charges fees of $4,000, it would take more than three years to break even. The deal would make sense only if you planned to stay longer than three years .
Q: What kinds of loans are available?
A: Since the subprime lending bust, most lenders have eliminated the riskiest loans. These included loans that let borrowers make only interest payments for the first few years. Other risky loans required no down payments or proof of income. The Federal Housing Administration lets buyers get loans with down payments of at least 3.5 percent. That's how most first-time buyers are able to get mortgages these days.
Q: What's the difference between a loan modification and a refinanced loan?
A: Loan modifications are for borrowers who are behind on their mortgage or on the verge of falling behind. They involve a reduction in the interest rate or a temporary break on payments. By contrast, a refinanced loan is an entirely new mortgage, often made with a different lender.
Here are Some of my Favourite Links
Top Class Air Duct Cleaning
Offshore marketing services The Call Experts
Information aritcles general tips. The Articles Direct
Top Class air Duct Cleaning Brampton
Top Class air Duct Cleaning Ajax
Top Class air Duct Cleaning mississauga
Top Class air Duct Cleaning Toronto
Top Class air Duct Cleaning oakville
creeper1122 blogs
telemarketing how to
wonderful getaways
Latest movies and dramas blog
khan.vicky blogs
Mobile Phones club
Call Center Softwares
Mortgage and Property Blog
creeper0101 blog
O Desk for all information articles
Wednesday, June 23, 2010
Unsafe consumer loans for mortgages and credit cards
WASHINGTON — Unsafe consumer loans for mortgages and credit cards were at the heart of the financial crisis. Banks handed out loans to people who couldn't afford them. The banks ended up with trillions in bad debt.
The financial overhaul being crafted by House-Senate negotiators would tighten protections for consumers. It would create a regulator to oversee financial products and services such as mortgages, credit cards and auto loans. The regulator is intended to make those products safer and easier to understand.
Here are some questions and answers about the legislation's consumer protection authority:
Q: How would it better protect consumers?
A: The new regulator would write and enforce rules for financial services and products. It might outlaw confusing fine print on credit agreements, for example. It could ban mortgages it considered unsafe.
The regulator would exist in an independent bureau within the Federal Reserve. Its authority would be limited: Other regulators could vote to block its rules.
Still, the regulator would have broad authority. It would oversee companies such as mortgage lenders, which haven't faced meaningful federal regulation. Those companies made some of the highest-risk loans before the financial crisis. The new authority is designed to close that loophole by regulating all financial products - regardless of who offers them.
Yet there are many exceptions. Small banks would not face on-site investigation by the regulator. Some auto dealers and pawn brokers would be exempt from its oversight under one proposal being debated.
Q: How would the new regulator affect financial institutions?
A: Many would face an extra layer of oversight. They would be monitored by the consumer agency as well as by their existing regulator.
The current system relies on several bank regulators. Each oversees a category of companies. The new regulator would be different: It could monitor any financial company that serves consumers - unless Congress exempts that type of company.
So some companies that weren't regulated before, such as payday lenders, would be subject to oversight by the consumer agency.
Q: How would the agency directly affect ordinary people?
A: Mainly, it would aim to ensure that credit card companies and mortgage lenders don't abuse consumers. It would monitor documents that cover mortgages and credits cards to ensure they aren't misleading or confusing. But the new regulator's approach would be defined over the years by the presidential appointees who run it.
Q: Where does the bill stop short?
A: The agency would have little direct power over small banks, retailers, pawn brokers or auto dealers that offer bank loans. It could write rules that affect them. But regulators would enforce those rules. And the agency wouldn't police companies regulated by the SEC. Those include stock brokers and credit rating agencies.
Business groups such as the U.S. Chamber of Commerce lobbied against the agency and persuaded lawmakers to shield some companies from its oversight. The House bill exempts insurers and auto dealers that offer bank loans, among others. The Senate bill exempts small businesses but would regulate car dealers.
Critics say these exemptions mean the agency wouldn't prevent another crisis. The next financial threat, after all, could emerge anywhere. The savings and loan crisis of the 1980s and 1990s involved lending by smaller banks, not Wall Street giants.
The Associated Press
The financial overhaul being crafted by House-Senate negotiators would tighten protections for consumers. It would create a regulator to oversee financial products and services such as mortgages, credit cards and auto loans. The regulator is intended to make those products safer and easier to understand.
Here are some questions and answers about the legislation's consumer protection authority:
Q: How would it better protect consumers?
A: The new regulator would write and enforce rules for financial services and products. It might outlaw confusing fine print on credit agreements, for example. It could ban mortgages it considered unsafe.
The regulator would exist in an independent bureau within the Federal Reserve. Its authority would be limited: Other regulators could vote to block its rules.
Still, the regulator would have broad authority. It would oversee companies such as mortgage lenders, which haven't faced meaningful federal regulation. Those companies made some of the highest-risk loans before the financial crisis. The new authority is designed to close that loophole by regulating all financial products - regardless of who offers them.
Yet there are many exceptions. Small banks would not face on-site investigation by the regulator. Some auto dealers and pawn brokers would be exempt from its oversight under one proposal being debated.
Q: How would the new regulator affect financial institutions?
A: Many would face an extra layer of oversight. They would be monitored by the consumer agency as well as by their existing regulator.
The current system relies on several bank regulators. Each oversees a category of companies. The new regulator would be different: It could monitor any financial company that serves consumers - unless Congress exempts that type of company.
So some companies that weren't regulated before, such as payday lenders, would be subject to oversight by the consumer agency.
Q: How would the agency directly affect ordinary people?
A: Mainly, it would aim to ensure that credit card companies and mortgage lenders don't abuse consumers. It would monitor documents that cover mortgages and credits cards to ensure they aren't misleading or confusing. But the new regulator's approach would be defined over the years by the presidential appointees who run it.
Q: Where does the bill stop short?
A: The agency would have little direct power over small banks, retailers, pawn brokers or auto dealers that offer bank loans. It could write rules that affect them. But regulators would enforce those rules. And the agency wouldn't police companies regulated by the SEC. Those include stock brokers and credit rating agencies.
Business groups such as the U.S. Chamber of Commerce lobbied against the agency and persuaded lawmakers to shield some companies from its oversight. The House bill exempts insurers and auto dealers that offer bank loans, among others. The Senate bill exempts small businesses but would regulate car dealers.
Critics say these exemptions mean the agency wouldn't prevent another crisis. The next financial threat, after all, could emerge anywhere. The savings and loan crisis of the 1980s and 1990s involved lending by smaller banks, not Wall Street giants.
The Associated Press
Monday, June 21, 2010
High-ratio mortgages
High-ratio mortgages (mortgages with less than 25 per cent Down Payment) must, by law, be insured against Default. Such insurance may be provided by the federal government through the Canada Mortgage and Housing Corporation (CMHC) or through an approved private insurer (such as GE Capital Mortgage Insurance Canada). With Mortgage loan insurance, if you default on your mortgage, the lender is paid back by the insurer.
It should be noted that mortgage loan insurance protects the lending institution only. If you default on your mortgage, and the sale proceeds of your house are not sufficient to pay the outstanding balance of your mortgage, the lending institution will be covered by the mortgage loan insurance. Note that in such a case, you would still lose your house.
Before approving you for mortgage insurance, the mortgage insurer will generally make an Assessment of your credit and may require the payment of an application/Appraisal fee in order to process and confirm approval of the mortgage. This fee covers the insurer's costs associated with that assessment. In some cases, the lending institution may pay this fee.
Normally, the down payment you make must come from your own funds. If you borrow the money (such as on a line of credit, personal loan or credit card), a higher mortgage loan insurance premium applies (see table below).
Home ownership insurance premiums are as follows:
Down Payment
Insurance Premium1
5% down payment, from borrowed funds
3.4%
5% to 9.99% down payment
3.25%
10% to 14.99% down payment
2%
15% to 19.99% down payment
1.75%
20 to 24.99% down payment
1%
1of accepted purchase price (or appraised value, whichever is lower) - as of July 14, 2003
Conventional mortgages (mortgages with at least a 25 per cent down payment) do not, by law, have to be insured. However, there may be instances where mortgage insurance will be required if your loan is considered to be risky. In this case, some lenders may charge a premium of 0.65 per cent if your down payment is between 25% and 34.99%, or 0.5 per cent if your down payment is above 35% (rates as of July 2003).
It should be noted that mortgage loan insurance protects the lending institution only. If you default on your mortgage, and the sale proceeds of your house are not sufficient to pay the outstanding balance of your mortgage, the lending institution will be covered by the mortgage loan insurance. Note that in such a case, you would still lose your house.
Before approving you for mortgage insurance, the mortgage insurer will generally make an Assessment of your credit and may require the payment of an application/Appraisal fee in order to process and confirm approval of the mortgage. This fee covers the insurer's costs associated with that assessment. In some cases, the lending institution may pay this fee.
Normally, the down payment you make must come from your own funds. If you borrow the money (such as on a line of credit, personal loan or credit card), a higher mortgage loan insurance premium applies (see table below).
Home ownership insurance premiums are as follows:
Down Payment
Insurance Premium1
5% down payment, from borrowed funds
3.4%
5% to 9.99% down payment
3.25%
10% to 14.99% down payment
2%
15% to 19.99% down payment
1.75%
20 to 24.99% down payment
1%
1of accepted purchase price (or appraised value, whichever is lower) - as of July 14, 2003
Conventional mortgages (mortgages with at least a 25 per cent down payment) do not, by law, have to be insured. However, there may be instances where mortgage insurance will be required if your loan is considered to be risky. In this case, some lenders may charge a premium of 0.65 per cent if your down payment is between 25% and 34.99%, or 0.5 per cent if your down payment is above 35% (rates as of July 2003).
Sunday, June 20, 2010
Canada Property Prices
One of the major attractions of a move to Canada is the cost of housing compared with other western countries.
As happens everywhere, prices are higher in Canada's big cities than they are in the surrounding towns.
Canada's highest house prices are found on the west coast in Vancouver / British Columbia, where the country's mildest weather is found.
Severe winter weather or remoteness from major markets usually results in low house prices - for example property prices are low in Manitoba and Prince Edward Island.
In 2007 prices in booming Alberta rose above prices in Ontario for the first time and, in the same vein, prices in Calgary rose above those in Toronto. Despite the more recent fall in oil prices, Alberta prices in 2009 remain higher than those in Ontario but Calgary prices have dropped below those in Toronto.
Canadian Cities
Average House Prices
January 2010
City Average House Price 12 Month Change
Vancouver, BC $638,000 + 18.9 %
Toronto, Ont $409,000 + 19.0 %
Calgary, Alb $382,000 + 5.5 %
Ottawa, Ont $324,000 + 11.3 %
Montreal, Que $284,000 + 11.1 %
Halifax, NS $242,000 - 0.4 %
Regina, Sask $214,000 - 6.2 %
Fredericton, NB $164,000 + 6.0 %
Canadian Provinces
Average House Prices
January 2010
Province Average House Price 12 Month Change
British Columbia $492,000 + 19.0 %
Alberta $343,000 + 6.4 %
Ontario $329,000 + 19.5 %
Quebec $236,000 + 9.8 %
Newfoundland / Labrador $236,000 + 22.5 %
Saskatchewan $228,000 + 2.0 %
Manitoba $213,000 + 15.9 %
Nova Scotia $194,000 + 8.3 %
Prince Edward Island $159,000 - 3.6 %
New Brunswick $156,000 + 7.3 %
Canadian Average $329,000 + 19.6 %
As happens everywhere, prices are higher in Canada's big cities than they are in the surrounding towns.
Canada's highest house prices are found on the west coast in Vancouver / British Columbia, where the country's mildest weather is found.
Severe winter weather or remoteness from major markets usually results in low house prices - for example property prices are low in Manitoba and Prince Edward Island.
In 2007 prices in booming Alberta rose above prices in Ontario for the first time and, in the same vein, prices in Calgary rose above those in Toronto. Despite the more recent fall in oil prices, Alberta prices in 2009 remain higher than those in Ontario but Calgary prices have dropped below those in Toronto.
Canadian Cities
Average House Prices
January 2010
City Average House Price 12 Month Change
Vancouver, BC $638,000 + 18.9 %
Toronto, Ont $409,000 + 19.0 %
Calgary, Alb $382,000 + 5.5 %
Ottawa, Ont $324,000 + 11.3 %
Montreal, Que $284,000 + 11.1 %
Halifax, NS $242,000 - 0.4 %
Regina, Sask $214,000 - 6.2 %
Fredericton, NB $164,000 + 6.0 %
Canadian Provinces
Average House Prices
January 2010
Province Average House Price 12 Month Change
British Columbia $492,000 + 19.0 %
Alberta $343,000 + 6.4 %
Ontario $329,000 + 19.5 %
Quebec $236,000 + 9.8 %
Newfoundland / Labrador $236,000 + 22.5 %
Saskatchewan $228,000 + 2.0 %
Manitoba $213,000 + 15.9 %
Nova Scotia $194,000 + 8.3 %
Prince Edward Island $159,000 - 3.6 %
New Brunswick $156,000 + 7.3 %
Canadian Average $329,000 + 19.6 %
Sunday, June 13, 2010
Can Dubai Stand up Again?
t was a well planned announcement that unleashed the true extent of Dubai’s billions of dollars of debt, one that was executed with the knowledge that the world wouldn’t be able to find out much more in the middle of a religious holiday.
His son, the crown prince, told investors a few days before the debt announcement that Dubai’s economy was ‘humming along nicely’ and the chairman of one of Dubai’s biggest property developers claimed that the emirate would still enjoy a growth rate of 5% this year.
To put it mildly this was the kind of spin to out-spin spin, to put it crudely, they were lying.
So what happens now? Well the media is still being clamped down upon.
The Sunday Times of London was banned. Calls to government officials still go unanswered even though the Eid holiday is over.
A lot depends on when the debt is re-paid and analysts are divided over what will happen in the next six months.
An added complication is that the debts were taken out as Islamic bonds, known as sukuks, and the rules about what happens if the borrower fails to pay them back are hazy.
But some analysts are less alarmed about the effects on some sectors. Nicholas Maclean, Managing Director of CB Richard Ellis Middle East, is quietly confident that the commercial property market won’t see much of an impact.
‘I think there has been an over reaction. Certainly the news was not handled well and making an announcement at the start of a national holiday meant it was difficult to get a hold of people to find out more,’ he said.
‘We are not seeing a decline in interest in the commercial market.
Global corporates are still interested in Dubai as a place where they can set up their Middle East hub and that is not going to suddenly change,’ he explained.
He is also less worried about the impact on the residential property market.
‘There may be a short term effect on Nakheel properties but this shouldn’t affect other property developers and the market as a whole. I find the international reaction very surprising,’ he added.
Although the immediate fears are calming as Dubai World seeks to restructure, it is what happens if it cannot pay its debts in six months time that is bothering others.
‘Should they effectively default, it could become one of the biggest sovereign defaults since the Argentinean crisis,’ said Marina Akopian, partner at HEXAM Capital, which manages about $440 million in emerging markets.
‘It will certainly have a very negative impact on the Dubai property market and I suspect on property markets globally,’ he added.
Even the restructuring of Dubai World and its subsidiaries is expected to undermine confidence in the property market.
In recent months prices have shown signs of stabilization and even modest recovery with property consultancy Colliers International reporting the first increase in prices for residential property since the market started plummeting late last year.
According to many it is master developer Nakheel that lies at the heart of Dubai World’s problems.
The developer borrowed billions to build grandiose projects such as Palm Islands.
Earlier this month investment bank UBS said Dubai property prices could drop a further 30% over the next 18 months and may take at least 10 years to recover to peak levels.
One of the bank’s analysts Saud Masud said it is unlikely to change its estimate for the drop in prices and in fact the further fall may happen sooner than anticipated.
‘This type of crisis brings fundamental weaknesses to the surface faster. This could play out in the next six months or so,’ he explained.
One of the biggest concerns for Dubai real estate is the funding gap to finish properties that are already started and on which investors are defaulting.
Eric Swats, head of asset management at Dubai based Rasmala Investments, said liquidity, which had started to return to the property market, will come under pressure as banks based in the United Arab Emirates try to limit their exposure to Dubai World.
‘They are going to have to take quite a big haircut because of the loans they provided to Dubai World and Nakheel.
As a result, they are likely to be less able to make mortgages and other types of funding,’ he said.
As well as the uncertainty surrounding Dubai World and its entities, the standstill could also affect other listed developers such as Emaar Properties, the UAE’s largest, Union Properties and Deyaar Development, it is claimed.
According to UBS the debt might even be more than is being publicly admitted, others suggest it could be double.
According to Davidson, those living and working in Dubai need to take off their rose-tinted spectacles.
‘You can’t trust the information that is coming out. Yes, Abu Dhabi could bail Dubai out with just one telephone call, but does it want to take on that much debt?’ he said.
‘It won’t be much help to the people that have put their life savings into property. Dubai’s reputation is in tatters. Credit agencies have reduced it to junk status.’
His son, the crown prince, told investors a few days before the debt announcement that Dubai’s economy was ‘humming along nicely’ and the chairman of one of Dubai’s biggest property developers claimed that the emirate would still enjoy a growth rate of 5% this year.
To put it mildly this was the kind of spin to out-spin spin, to put it crudely, they were lying.
So what happens now? Well the media is still being clamped down upon.
The Sunday Times of London was banned. Calls to government officials still go unanswered even though the Eid holiday is over.
A lot depends on when the debt is re-paid and analysts are divided over what will happen in the next six months.
An added complication is that the debts were taken out as Islamic bonds, known as sukuks, and the rules about what happens if the borrower fails to pay them back are hazy.
But some analysts are less alarmed about the effects on some sectors. Nicholas Maclean, Managing Director of CB Richard Ellis Middle East, is quietly confident that the commercial property market won’t see much of an impact.
‘I think there has been an over reaction. Certainly the news was not handled well and making an announcement at the start of a national holiday meant it was difficult to get a hold of people to find out more,’ he said.
‘We are not seeing a decline in interest in the commercial market.
Global corporates are still interested in Dubai as a place where they can set up their Middle East hub and that is not going to suddenly change,’ he explained.
He is also less worried about the impact on the residential property market.
‘There may be a short term effect on Nakheel properties but this shouldn’t affect other property developers and the market as a whole. I find the international reaction very surprising,’ he added.
Although the immediate fears are calming as Dubai World seeks to restructure, it is what happens if it cannot pay its debts in six months time that is bothering others.
‘Should they effectively default, it could become one of the biggest sovereign defaults since the Argentinean crisis,’ said Marina Akopian, partner at HEXAM Capital, which manages about $440 million in emerging markets.
‘It will certainly have a very negative impact on the Dubai property market and I suspect on property markets globally,’ he added.
Even the restructuring of Dubai World and its subsidiaries is expected to undermine confidence in the property market.
In recent months prices have shown signs of stabilization and even modest recovery with property consultancy Colliers International reporting the first increase in prices for residential property since the market started plummeting late last year.
According to many it is master developer Nakheel that lies at the heart of Dubai World’s problems.
The developer borrowed billions to build grandiose projects such as Palm Islands.
Earlier this month investment bank UBS said Dubai property prices could drop a further 30% over the next 18 months and may take at least 10 years to recover to peak levels.
One of the bank’s analysts Saud Masud said it is unlikely to change its estimate for the drop in prices and in fact the further fall may happen sooner than anticipated.
‘This type of crisis brings fundamental weaknesses to the surface faster. This could play out in the next six months or so,’ he explained.
One of the biggest concerns for Dubai real estate is the funding gap to finish properties that are already started and on which investors are defaulting.
Eric Swats, head of asset management at Dubai based Rasmala Investments, said liquidity, which had started to return to the property market, will come under pressure as banks based in the United Arab Emirates try to limit their exposure to Dubai World.
‘They are going to have to take quite a big haircut because of the loans they provided to Dubai World and Nakheel.
As a result, they are likely to be less able to make mortgages and other types of funding,’ he said.
As well as the uncertainty surrounding Dubai World and its entities, the standstill could also affect other listed developers such as Emaar Properties, the UAE’s largest, Union Properties and Deyaar Development, it is claimed.
According to UBS the debt might even be more than is being publicly admitted, others suggest it could be double.
According to Davidson, those living and working in Dubai need to take off their rose-tinted spectacles.
‘You can’t trust the information that is coming out. Yes, Abu Dhabi could bail Dubai out with just one telephone call, but does it want to take on that much debt?’ he said.
‘It won’t be much help to the people that have put their life savings into property. Dubai’s reputation is in tatters. Credit agencies have reduced it to junk status.’
Saturday, June 12, 2010
Just Because you cannot see it doesn't mean it is not there
Here's a fascinating article "Workers Say Courthouse is Unhealthy" from North Carolina, USA, about a problem building.
It seems it hasn't been a great building for 36 years.
Regarding air hygiene, various tests and investigations have been done, but none have produced results convincing enough for the employer/landlord to do anything concrete about duct cleanliness
A couple of quotes from the article:
"Employees also spoke of black, dustlike particles falling from ceiling vents. County officials said that was a concoction of dust and dead skin and was not a health hazard"
“People start wondering what the test results mean,” he [State Health Dept investigator] said. “Interpretation of the results is difficult. (People) want to link mold in the environment to their health issues, and that’s a problem because we don’t have a benchmark for what is safe and unsafe.”
Now take a look at the state of an HVAC diffuser grille and the nearby ceiling as an office employee takes a tape sample for mould / mold
And yes I know some of that dirt is induced from the served area onto the grille vanes and ceiling tiles, but really - how filthy does a building component have to be before somebody says: 'Hey, let's clean this'?
Think of the time and money that's been spent over the years doing investigations, discussing results etc. Is it really that complicated or difficult to see that it's just not right for a system to be that dirty?
It's the old story: just because it's out of sight, does not mean it should be out of mind.
It seems it hasn't been a great building for 36 years.
Regarding air hygiene, various tests and investigations have been done, but none have produced results convincing enough for the employer/landlord to do anything concrete about duct cleanliness
A couple of quotes from the article:
"Employees also spoke of black, dustlike particles falling from ceiling vents. County officials said that was a concoction of dust and dead skin and was not a health hazard"
“People start wondering what the test results mean,” he [State Health Dept investigator] said. “Interpretation of the results is difficult. (People) want to link mold in the environment to their health issues, and that’s a problem because we don’t have a benchmark for what is safe and unsafe.”
Now take a look at the state of an HVAC diffuser grille and the nearby ceiling as an office employee takes a tape sample for mould / mold
And yes I know some of that dirt is induced from the served area onto the grille vanes and ceiling tiles, but really - how filthy does a building component have to be before somebody says: 'Hey, let's clean this'?
Think of the time and money that's been spent over the years doing investigations, discussing results etc. Is it really that complicated or difficult to see that it's just not right for a system to be that dirty?
It's the old story: just because it's out of sight, does not mean it should be out of mind.
Wednesday, June 9, 2010
Farmland prices rise for second quarter
Andrew Shirley, head of rural land research at Knight Frank, commented "The farmland market has now regained much of the ground it lost after the credit crunch when sales virtually ground to a halt."
"Prices have now risen by over 3% in each of the past two quarters and are now just 2.5% below their June 2008 peak. Over the past 15 years farmland has performed significantly better than residential property and the FTSE 100 index (see graph below).
"Although commodity prices have fallen back significantly from last year's record highs, there seems to be a feeling that agriculture in the UK has a long-term future and farmers, who make up 57% of buyers, are keen to buy more land. We are also seeing tentative signs of a return of the lifestyle buyer (25% of purchasers) as the housing market starts to pick up again.
“Overseas buyers (10% of purchasers) who were significant players prior to the credit crunch, especially the Irish and Danish, have yet to return to the market in numbers, despite the weakness of Sterling against the Euro, which makes English land good value for them. We have also seen little real activity yet from investors, although a number of funds are actively exploring the opportunities available.
“Supply of land remains limited with about 15% fewer acres available for sale this year than last. There have been few forced sales as banks remain generally supportive of agriculture. Lenders are also offering attractive long-term finance rates to those looking to expand. This is helping to support prices.
“The market, however, is more selective than it was during the first half of 2008 when even fairly average blocks of land were achieving exceptional prices. Farmers will pay good prices for land, but only if it is of the right quality in the right location. Some recent sales have made over £7000/acre, while less desirable land is proving more difficult sell.
"Prices have now risen by over 3% in each of the past two quarters and are now just 2.5% below their June 2008 peak. Over the past 15 years farmland has performed significantly better than residential property and the FTSE 100 index (see graph below).
"Although commodity prices have fallen back significantly from last year's record highs, there seems to be a feeling that agriculture in the UK has a long-term future and farmers, who make up 57% of buyers, are keen to buy more land. We are also seeing tentative signs of a return of the lifestyle buyer (25% of purchasers) as the housing market starts to pick up again.
“Overseas buyers (10% of purchasers) who were significant players prior to the credit crunch, especially the Irish and Danish, have yet to return to the market in numbers, despite the weakness of Sterling against the Euro, which makes English land good value for them. We have also seen little real activity yet from investors, although a number of funds are actively exploring the opportunities available.
“Supply of land remains limited with about 15% fewer acres available for sale this year than last. There have been few forced sales as banks remain generally supportive of agriculture. Lenders are also offering attractive long-term finance rates to those looking to expand. This is helping to support prices.
“The market, however, is more selective than it was during the first half of 2008 when even fairly average blocks of land were achieving exceptional prices. Farmers will pay good prices for land, but only if it is of the right quality in the right location. Some recent sales have made over £7000/acre, while less desirable land is proving more difficult sell.
Tuesday, June 8, 2010
How to lower your mortage
If you've ever looked for a mortgage loan then you're well aware that the loan interest rate can make an emormous difference in your monthly mortgage payments. But did you know what an enormous difference even a tiny difference in that rate can make regarding the total interest you'll be paying over the life of the loan?
For instance, if you take out a 30 year loan for $100,000 at 6.5% (fixed) you'll have paid a total of $127,544.49 in interest by the time you've paid off your loan. But if %your interest rate had been 6.25% the amount would be $121,658.19. That's a savings of $5,886.30 for a rate difference of only 1/4%!
Now what if you could cut that interest rate even more? Taking the same 30 year loan for $100,000 at 6.5%, here's how much you could save %by further cuts in the interest rate%.
Rate = 6.0% .... Point Reduction = 1/2% ...Savings = $11,706.3
Rate = 5.75% ... Point Reduction = 3/4% ...Savings = $17,458.26
Rate = 5.5% .... Point Reduction = 1% .....Savings = $28,751.16
So by lowering the rate by a full point, you would get to keep a whopping $28,751.16! But the question is HOW can you bring about dropping the interest rate on your home loan?
Well, you could refinance your loan to get a lower rate. But doing that has its drawbacks.
to begin with, to get a lower rate you would be compelled to refinance %at a time when the current interest rates% are lower than the rate you pay now. But if current interest rates are the same or higher, then you would need to delay until rates go lower ... and that could be a long wait!
Also, if you refinance you'll have to pay hundreds of dollars in closing costs. Plus it's likely you'll have to change lenders and you'll have to deal with complicated forms and a stack of documents you must put your signature on.
But what if there were a way to lower your interest rate by one full point and not increase your monthly payment ... WITHOUT the disadvantages of having to refinance?
By changing to a "biweekly mortgage payment" you can cut your "effective interest rate" without the expense or hassle of refinancing.
Let me explain why.
The "effective interest rate" can be understood as the ACTUAL interest you're paying on your loan. I'm sure you're wondering, "How can the actual interest rate be lower than the interest rate I'm supposedly being charged?" To illustrate let's return to our first example, the $100,000 loan at 6.5% over a 30 year term.
The loan papers you signed when you took out the loan state "6.5%" is the interest rate you would pay. And if you pay once a month like most people, you'll pay a 6.5% rate. Now if you switch to a biweekly mortgage payment you will be reducing your actual rate.
At 6.5% your monthly payments would be $ 632.07 (not including escrow for insurance and taxes). Now let's take that $632.07 payment, and instead of paying it once every month, we'll pay HALF that amount ($316.03) once every two weeks. The result? Hang on, because this will floor you!
Your mortgage will be paid off in just over 24 years (not 30) and the total interest you'll have paid will be $99,549.65 ... that's $27,994.84 LESS than you would otherwise have paid. And because you paid less interest it makes your ACTUAL interest rate just 5.22% ... more than a full percentage point less. Let's state it differently. The total of your interest paid is the same as if you had taken out a $100,000 loan for 30 years at only 5.22% interest, and made regular payments every month.
Now what if your loan had been for more (or less) than $100,000? The "Effective Interest Rate" of 5.22% would not have changed. But the larger your own had been, the less interest you would have had to pay by going to a biweekly mortgage payment.
What if your loan had been for $200,000? You'd have saved $55,989.68. How about $500,000? You would have pocketed a whopping $139,974.20.
Now what if you've already been paying on your current loan for a number of years?
Taking our previous example ($100,000, 30 years, 6.5%) let's say you been making payments for 10 years, then you switch to a biweekly mortgage payment. You could still bank an extra $10,342.04. So while let's not as much as $27,994.84 it would still make it more than worth your while to switch to a biweekly mortgage payment.
There are additional advantages to change to a biweekly mortgage payment plan.
* All payments fall on the same day of the week. So if you get paid on a Thursday, you can make every biweekly mortgage payment fall on "payday."
* You can structure it so that your payments are automatic, so you'll never have to make a manual payment nor remember when to pay.
* You'll pay your loan quicker and be debt free sooner.
* You'll be making your mortgage into an investment program
* You'll be building equity in your home up to 3 times faster!
So when you make your next mortgage payment, stop and think over how much money you could be keeping by switching to a biweekly mortgage payment ... money you could save and spend on YOUR family, and not someone else's!
Top Class Air Duct Cleaning provides other useful information about air duct system in your house.
Another source of useful information is Classic Air Duct Cleaning inc.
Other helpful information can be found on here.
If you can like information about the latest mobile phone you can visit mobilephonesclub.blogspot.com.
To get useful property related information visit mortgageandproperty.blogspot.com
If you would like to read useful articles on various topics visit The Articles Direct.
If you are looking to outsource you marketing campaign visit The Call Experts.
For instance, if you take out a 30 year loan for $100,000 at 6.5% (fixed) you'll have paid a total of $127,544.49 in interest by the time you've paid off your loan. But if %your interest rate had been 6.25% the amount would be $121,658.19. That's a savings of $5,886.30 for a rate difference of only 1/4%!
Now what if you could cut that interest rate even more? Taking the same 30 year loan for $100,000 at 6.5%, here's how much you could save %by further cuts in the interest rate%.
Rate = 6.0% .... Point Reduction = 1/2% ...Savings = $11,706.3
Rate = 5.75% ... Point Reduction = 3/4% ...Savings = $17,458.26
Rate = 5.5% .... Point Reduction = 1% .....Savings = $28,751.16
So by lowering the rate by a full point, you would get to keep a whopping $28,751.16! But the question is HOW can you bring about dropping the interest rate on your home loan?
Well, you could refinance your loan to get a lower rate. But doing that has its drawbacks.
to begin with, to get a lower rate you would be compelled to refinance %at a time when the current interest rates% are lower than the rate you pay now. But if current interest rates are the same or higher, then you would need to delay until rates go lower ... and that could be a long wait!
Also, if you refinance you'll have to pay hundreds of dollars in closing costs. Plus it's likely you'll have to change lenders and you'll have to deal with complicated forms and a stack of documents you must put your signature on.
But what if there were a way to lower your interest rate by one full point and not increase your monthly payment ... WITHOUT the disadvantages of having to refinance?
By changing to a "biweekly mortgage payment" you can cut your "effective interest rate" without the expense or hassle of refinancing.
Let me explain why.
The "effective interest rate" can be understood as the ACTUAL interest you're paying on your loan. I'm sure you're wondering, "How can the actual interest rate be lower than the interest rate I'm supposedly being charged?" To illustrate let's return to our first example, the $100,000 loan at 6.5% over a 30 year term.
The loan papers you signed when you took out the loan state "6.5%" is the interest rate you would pay. And if you pay once a month like most people, you'll pay a 6.5% rate. Now if you switch to a biweekly mortgage payment you will be reducing your actual rate.
At 6.5% your monthly payments would be $ 632.07 (not including escrow for insurance and taxes). Now let's take that $632.07 payment, and instead of paying it once every month, we'll pay HALF that amount ($316.03) once every two weeks. The result? Hang on, because this will floor you!
Your mortgage will be paid off in just over 24 years (not 30) and the total interest you'll have paid will be $99,549.65 ... that's $27,994.84 LESS than you would otherwise have paid. And because you paid less interest it makes your ACTUAL interest rate just 5.22% ... more than a full percentage point less. Let's state it differently. The total of your interest paid is the same as if you had taken out a $100,000 loan for 30 years at only 5.22% interest, and made regular payments every month.
Now what if your loan had been for more (or less) than $100,000? The "Effective Interest Rate" of 5.22% would not have changed. But the larger your own had been, the less interest you would have had to pay by going to a biweekly mortgage payment.
What if your loan had been for $200,000? You'd have saved $55,989.68. How about $500,000? You would have pocketed a whopping $139,974.20.
Now what if you've already been paying on your current loan for a number of years?
Taking our previous example ($100,000, 30 years, 6.5%) let's say you been making payments for 10 years, then you switch to a biweekly mortgage payment. You could still bank an extra $10,342.04. So while let's not as much as $27,994.84 it would still make it more than worth your while to switch to a biweekly mortgage payment.
There are additional advantages to change to a biweekly mortgage payment plan.
* All payments fall on the same day of the week. So if you get paid on a Thursday, you can make every biweekly mortgage payment fall on "payday."
* You can structure it so that your payments are automatic, so you'll never have to make a manual payment nor remember when to pay.
* You'll pay your loan quicker and be debt free sooner.
* You'll be making your mortgage into an investment program
* You'll be building equity in your home up to 3 times faster!
So when you make your next mortgage payment, stop and think over how much money you could be keeping by switching to a biweekly mortgage payment ... money you could save and spend on YOUR family, and not someone else's!
Top Class Air Duct Cleaning provides other useful information about air duct system in your house.
Another source of useful information is Classic Air Duct Cleaning inc.
Other helpful information can be found on here.
If you can like information about the latest mobile phone you can visit mobilephonesclub.blogspot.com.
To get useful property related information visit mortgageandproperty.blogspot.com
If you would like to read useful articles on various topics visit The Articles Direct.
If you are looking to outsource you marketing campaign visit The Call Experts.
Friday, June 4, 2010
South African Property
Types of Property in South Africa
South Africa offers the property buyer a wide range of options with regards to the property market. The various types of property in South Africa include: Batchelor Flats, Flats, Town Houses, Cluster Houses, Cottages, Houses, Small Holdings and Farms.
South African Properties - Farms
a Farm is a property which is mainly used for agricultural activities. South Africa has many such properties which include wine farms, wildlife farms and a variety of farms on which various types of food is produced.
South African Properties - Small Holdings
Small holdings include plots and agricultural holdings. A small holding can be over 10 hectar in size but is usually substantially smaller than a farm. Small holdings often have numerous outbuildings on the property; these outbuildings are often converted to cottages and used as rental properties. The area of land on a small holding is suitable for a large garden, vegetable patch or fruit trees.
South African Properties - Batchelor Flats
A batchelor flat is a small property usually consisting of one bedroom with lounge/dining room, kitchen and bathroom.
South African Properties - Flats
This type of property is bigger than bachelor flats and usually has one or two bedrooms with the bigger flats consiting of three bedrooms.
South African Properties - Town Houses
Town houses are properties that are located within a complex which usually has between 20 and 30 town houses. The town house property can either be a semi consisting of one floor or a duplex which has two floors. When considering buying a townhouse it is important to find out the levy for the complex as this varies quite dramatically from complex to complex.
South Afican Properties - Cluster Houses
Cluster houses are houses that are located in a complex. Gardens and pools that form part of the house is maintained by the owner and not the responsibility of the body corporate as with town house complexes. Cluster house complexes often have communual facilities such as pools, clubhouses, tennis courts etc. Cluster house complexes also usually charge levies for the maintenance of the complex.
South African Properties - Cottages
Cottages are located on larger properties usually small holdings. They are located away from the main building on the property and are usually rented out.
South African Properties - Houses
Most of the houses in South Africa are single storey buildings with double storey buildings only recently becoming popular in South Africa as the demand for property increases. Styles of houses in South Africa vary a lot and they can have plastered, stone or brick external finishes.
South Africa offers the property buyer a wide range of options with regards to the property market. The various types of property in South Africa include: Batchelor Flats, Flats, Town Houses, Cluster Houses, Cottages, Houses, Small Holdings and Farms.
South African Properties - Farms
a Farm is a property which is mainly used for agricultural activities. South Africa has many such properties which include wine farms, wildlife farms and a variety of farms on which various types of food is produced.
South African Properties - Small Holdings
Small holdings include plots and agricultural holdings. A small holding can be over 10 hectar in size but is usually substantially smaller than a farm. Small holdings often have numerous outbuildings on the property; these outbuildings are often converted to cottages and used as rental properties. The area of land on a small holding is suitable for a large garden, vegetable patch or fruit trees.
South African Properties - Batchelor Flats
A batchelor flat is a small property usually consisting of one bedroom with lounge/dining room, kitchen and bathroom.
South African Properties - Flats
This type of property is bigger than bachelor flats and usually has one or two bedrooms with the bigger flats consiting of three bedrooms.
South African Properties - Town Houses
Town houses are properties that are located within a complex which usually has between 20 and 30 town houses. The town house property can either be a semi consisting of one floor or a duplex which has two floors. When considering buying a townhouse it is important to find out the levy for the complex as this varies quite dramatically from complex to complex.
South Afican Properties - Cluster Houses
Cluster houses are houses that are located in a complex. Gardens and pools that form part of the house is maintained by the owner and not the responsibility of the body corporate as with town house complexes. Cluster house complexes often have communual facilities such as pools, clubhouses, tennis courts etc. Cluster house complexes also usually charge levies for the maintenance of the complex.
South African Properties - Cottages
Cottages are located on larger properties usually small holdings. They are located away from the main building on the property and are usually rented out.
South African Properties - Houses
Most of the houses in South Africa are single storey buildings with double storey buildings only recently becoming popular in South Africa as the demand for property increases. Styles of houses in South Africa vary a lot and they can have plastered, stone or brick external finishes.
Wednesday, June 2, 2010
property for sale
and sale name is suara hill, size: 40Ha, Price:IDR 5.000.000/are, CERTIFICATED PROCESS location hill in of coastal suara-selongblanak- central lombok,with beach view, ocean view, mountain view and very suited for resort and villa building, 17km or 20 minute from Lombok International Airport(LIA). Price can be negotiation.
Monday, May 31, 2010
The Palm Dubai
The Palm Dubai despite initial setbacks has become a huge global success, offering some of the most sought after freehold real estate around the world. The original Palm Dubai, The Palm Jumeirah has since spawned two other Palm projects, The Palm Jebel Ali and The Palm Deira. The Palm Jumeirah was first unveiled to the world back in 2001 and caused a huge stir, as nothing as ambitious has ever been attempted before. Not only was the project a first in terms of construction, the concept of owning a property on a man made palm shaped island out in the waters of the Arabian Gulf was also a hugely novel concept. Built by Dubai developer Nakheel, the Palm Jumeirah has been described as the ‘8th Wonder of the World’, and along with the Palm Jebel Ali and Palm Deira, The Palm Trilogy will increase Dubai’s shoreline by around 72 miles.
The Dubai Palm projects are clearly not your average freehold real estate developments, and offer buyers the opportunity to own a truly unique piece of freehold real estate in one of the most desirable locations in the world. And the building of the Palm Jumeirah has since reestablished the boundaries as to what is possible in regards to land reclamation projects around the world. Nahkeel has since begun construction of the World Dubai, and will soon begin construction on the Dubai Waterfront, which once complete will take the mantel of being the worlds largest land reclamation project. The Palm Jumeirah and Jebel Ali will consist of the main palm trunk and then 17 fronds on which the bulk of the freehold property will be built.
And property on the Palm Dubai has become incredibly popular since its launch, and is amongst some the most expensive freehold real estate within Dubai. The project has captured a global audience, and as such investors are queuing up from all around the world to get their own piece of freehold real estate on the island. And whether it’s a freehold villa or apartment you are looking for in Dubai, the Palm Jumeirah will no doubt have something that you will like. Both the Palm Jumeirah and the Palm Jebel Ali will for the most part feature similar properties, but with the Palm Jebel Ali featuring more in the way of entertainment options.
However the Signature villas will also provide residents with their own stretch of private beach. Signature Villas therefore attract the highest prices of the property of the Dubai Palms.
There are also numerous apartment options. There are Shoreline apartments set along the trunk of the Palm, and the Palm Golden Miles Apartments located just a little future up the trunk. Both offer a wide range of facilities, such as gyms and pools, and both are within close location to the Palms main shopping and entertainment area, ensuring you never get bored. And there are also the Palm Marina apartments, which offer a freehold home with a great view and your own boat mooring at the Palms Marina.
The Palm Jebel Ali will also feature a collection of Waterhomes. These exclusive homes which will be situated in between the crescent and the crown of the Palm, sitting out in the Arabian Gulf, suspended above the water on stilts. With just 1060 four bedroom water homes available, they are increasing difficult to obtain, such has been their popularity. The Palm Waterhomes are laid out in such a way so that from above they will spell out a verse of a poem written by Dubai’s ruler, Sheikh Mohammed Bin Al Rashid Al Maktoum.
All the Dubai Palm projects offer buyers the opportunity to own some truly individual residential freehold property in Dubai. People from all around the globe are aware of the Dubai Palm projects, and whilst this is now reflected in the high price of the freehold property on the islands, in this instance it is certainly a case of getting what you pay for, especially when you consider the facilities and entertainment option based on the islands. If you wish to know more about the Palm Trilogy, then please get in touch.
The Dubai Palm projects are clearly not your average freehold real estate developments, and offer buyers the opportunity to own a truly unique piece of freehold real estate in one of the most desirable locations in the world. And the building of the Palm Jumeirah has since reestablished the boundaries as to what is possible in regards to land reclamation projects around the world. Nahkeel has since begun construction of the World Dubai, and will soon begin construction on the Dubai Waterfront, which once complete will take the mantel of being the worlds largest land reclamation project. The Palm Jumeirah and Jebel Ali will consist of the main palm trunk and then 17 fronds on which the bulk of the freehold property will be built.
And property on the Palm Dubai has become incredibly popular since its launch, and is amongst some the most expensive freehold real estate within Dubai. The project has captured a global audience, and as such investors are queuing up from all around the world to get their own piece of freehold real estate on the island. And whether it’s a freehold villa or apartment you are looking for in Dubai, the Palm Jumeirah will no doubt have something that you will like. Both the Palm Jumeirah and the Palm Jebel Ali will for the most part feature similar properties, but with the Palm Jebel Ali featuring more in the way of entertainment options.
However the Signature villas will also provide residents with their own stretch of private beach. Signature Villas therefore attract the highest prices of the property of the Dubai Palms.
There are also numerous apartment options. There are Shoreline apartments set along the trunk of the Palm, and the Palm Golden Miles Apartments located just a little future up the trunk. Both offer a wide range of facilities, such as gyms and pools, and both are within close location to the Palms main shopping and entertainment area, ensuring you never get bored. And there are also the Palm Marina apartments, which offer a freehold home with a great view and your own boat mooring at the Palms Marina.
The Palm Jebel Ali will also feature a collection of Waterhomes. These exclusive homes which will be situated in between the crescent and the crown of the Palm, sitting out in the Arabian Gulf, suspended above the water on stilts. With just 1060 four bedroom water homes available, they are increasing difficult to obtain, such has been their popularity. The Palm Waterhomes are laid out in such a way so that from above they will spell out a verse of a poem written by Dubai’s ruler, Sheikh Mohammed Bin Al Rashid Al Maktoum.
All the Dubai Palm projects offer buyers the opportunity to own some truly individual residential freehold property in Dubai. People from all around the globe are aware of the Dubai Palm projects, and whilst this is now reflected in the high price of the freehold property on the islands, in this instance it is certainly a case of getting what you pay for, especially when you consider the facilities and entertainment option based on the islands. If you wish to know more about the Palm Trilogy, then please get in touch.
Saturday, May 29, 2010
Italy property information.
When it comes to buying a second property it is essential that you gather together as much about second property mortgage information as you possibly can. Taking on a second property is a big commitment and of course as you want the best start and the best advice then you should go to a specialist broker.
A broker can deal with the mortgage for you to help you find the best available deal and along with this they will be able to give you the best advice when it comes to second property mortgage information. Finding a mortgage for a second property can be difficult; the options available to you for the second home will differ from those of the mortgage you took out for your first home and this is where expertise can really come into it. While of course you will have to pay for the specialist advice in the long run this can save you a great deal of money is you make the choice yourself.
Of course the choices you have when it comes to the mortgage depend totally on what you are buying the second property for, if you are buying just as a second home or holiday home then this will make a difference as opposed to purchasing the property to be used as a buy to let rental.
A broker can find all the second property mortgage information that you need once you have defined what it is you are going to do with your property. Turning the property into a buy to let can be a great investment but along with the mortgage repayments you will also have many other outgoings to consider including insurance for your new property.
Again going with a specialist broker is the best way to fond what is needed to cover the property and yourself. In going for the buy to let the insurance which will be much more extensive but this is to be expected, however you can great deals in this just as with the mortgage.
If you are turning the property into a buy to let then you have to make sure that the property meets the requirements set out. Theses include making sure the property is fully furnished and you have to make it available to rent for at least 140 days out of the year and make sure that you do let it for 70 days within a specific period of time. When it comes to second property mortgage information a broke is the most reliable way to ensure you get the best deal.
A broker can deal with the mortgage for you to help you find the best available deal and along with this they will be able to give you the best advice when it comes to second property mortgage information. Finding a mortgage for a second property can be difficult; the options available to you for the second home will differ from those of the mortgage you took out for your first home and this is where expertise can really come into it. While of course you will have to pay for the specialist advice in the long run this can save you a great deal of money is you make the choice yourself.
Of course the choices you have when it comes to the mortgage depend totally on what you are buying the second property for, if you are buying just as a second home or holiday home then this will make a difference as opposed to purchasing the property to be used as a buy to let rental.
A broker can find all the second property mortgage information that you need once you have defined what it is you are going to do with your property. Turning the property into a buy to let can be a great investment but along with the mortgage repayments you will also have many other outgoings to consider including insurance for your new property.
Again going with a specialist broker is the best way to fond what is needed to cover the property and yourself. In going for the buy to let the insurance which will be much more extensive but this is to be expected, however you can great deals in this just as with the mortgage.
If you are turning the property into a buy to let then you have to make sure that the property meets the requirements set out. Theses include making sure the property is fully furnished and you have to make it available to rent for at least 140 days out of the year and make sure that you do let it for 70 days within a specific period of time. When it comes to second property mortgage information a broke is the most reliable way to ensure you get the best deal.
Thursday, May 27, 2010
Freehold Property in Emirates
Non-GCC expats living in the United Arab Emirates (UAE) were previously only permitted to rent property, or own property on the federal law approved 99-year leasehold basis. This all changed in 2002, when the Dubai government permitted the ownership of freehold property to expats, which has changed the real estate industry in the Middle East and Gulf regions.
Dubai Freehold Property
As the emirate of Dubai is not rich with oil like Abu Dhabi, Dubai has always focused on the development of its economy by establishing itself as a trading hub between the East and West. In addition to this, it is also establishing itself as the tourism destination for the region, so it has worked heavily on the promotion of real estate development.
The Dubai government began the promotion in 1997 with the setup of the publicly quoted Emaar Properties and Al Nakheel Properties. A year later, Emaar began work on Dubai Marina and followed this by the development of the Emirates Living Community developments (The Springs, The Meadows, Emirates Hills, The Views). The Emirates Living Community developments were first announced on leasehold basis, but unfortunately weren't a big success in the market.
The major property boom in Dubai occurred in May 2002, when Dubai's crown prince General Sheikh Mohammed bin Rashid Al Maktoom issued a decree to allow foreigners to buy and own freehold property in selected areas of the city, know referred to as New Dubai. The same month also witnessed the announcement of Nakheel's manmade island, The Palm Jumeirah, which followed a year later by the second man-made palm-shaped island, The Palm Jebel Ali. All previously developed leasehold property was automatically transferred to freehold.
After the initial property boom, various new developers joined the market, the most popular of which are Damac Properties, Dubai Properties (Estithmaar Realty Fz), and ETA Star Properties. Freehold property in Dubai is currently limited to areas on Sheikh Zayed Road, Jumeirah, Jebel Ali and along the Emirates Road.
Dubai Freehold Property Law
On the 14th of March 2006, Dubai's government issued its long-awaited law legalising foreign ownership of properties in designated areas of Dubai (article), but doesnt give property owners permanent residence visas or an automatic right to work in Dubai (article).
Freehold in the rest of the United Arab Emirates
Once Dubai began its offering of freehold properties to citizens of other countries, the other emirates weren't to far behind to follow in Dubai's footsteps.
Ras Al Khaimah
Ras Al Khaimah was the first emirate to emulate Dubai, which included its 1,300 residential unit development named Al Hamra Village expected to be completed by 2007. The second freehold development for Ras Al Khaimah, is spread across 50 acres of beachfront land of the five-star resort facility is The Cove. Another popular RAK property is the 1 million square meter tourist development, Saraya Islands.
Ras Al Khaymah's government has setup its own public joint stock property development company, RAK Properties, which received freehold rights for all its properties from the city's ruler in November 2005 (article). RAK Properties has a wide range of projects planned for the city, which includes Julfar Towers, Mina Al Arab, Mangrove Island, and Khor Qurm.
Ajman
Ajman was the second emirate to follow, when they announced its 15 freehold residential apartment buildings named Al Naeemiya Towers, which is expected to be fully complete by 2006. The same company who developed the Al Naeemiya Towers have continued their portfolio of ajman properties with Al Khor Towers, Al Rashidiya Towers, and Al Corniche Tower. Tameer Real Estate announced its development of a US$ 300 million (AED 1.1 billion) freehold residential and commercial project in Ajman, entitled Al Ameera Village, which is being built on the Emirates Ring Road and expected to be complete by 2007. Other Emirates Road projects include Emirates City, and Al Humaid City.
Sharjah
Sharjah has also begun offering property for foreign ownership, but it has presently stuck with leasehold. Some of its upcoming towers include ABBCO Tower, Sharjah Gate, 32-storey Al Taawun Tower, and the 47-storey Al Sandos Tower. Tameer also has various towers it will be building throughout Sharjah and Al-Hanoo is developing the 60 million square foot Nujoom Islands.
Umm Al Quwain
Tameer is also developing the Emirates Modern Industrial Area that will mainly cater to the manufacturing industry, which is being built near the famous UAQ Aviation Club. In addition to this, Tameer will also be developing the AED 30 billion Al Salam City, which will be situated along the Emirates Road in Umm Al Quwain and completed by 2010. Umm Al Quwain's property ownership law states that non-GCC nationals can own property but not the land (article).
Fujairah
Fujairah's efforts into the freehold market have been limited to the 43-storey 170-meter Al Jabar Tower, which will contain 270 residential apartments, commercial shops and showrooms and is being developed by Al Jabel Contracting.
Abu Dhabi and Al Ain
Abu Dhabi's property law came into effect on the 14th of August 2005, when Abu Dhabi's government announced the permitting of 99-year land ownership and renewable 50-year surface ownership to foreigners in specified areas in Abu Dhabi (article). Properties by Aldar Properties and the Al Reef Villas project by Manazel and Hydra Properties will permit foreign ownership according to the new property law.
The Definition of Freehold
The United Arab Emirates currently doesn't have a federal law defining freehold. Once the freehold property law is in effect, it will means that the property purchased by a foreigner will be put his/her name for life, which allows him/her to register the property in the Lands Department. The owner will then have full rights to the property and has the right to sell, lease or rent their property at their own discretion. Property owners and their immediate family, will obtain renewable residence visas for life, which can cost Dhs. 5,000 per person.
Dubai Freehold Property
As the emirate of Dubai is not rich with oil like Abu Dhabi, Dubai has always focused on the development of its economy by establishing itself as a trading hub between the East and West. In addition to this, it is also establishing itself as the tourism destination for the region, so it has worked heavily on the promotion of real estate development.
The Dubai government began the promotion in 1997 with the setup of the publicly quoted Emaar Properties and Al Nakheel Properties. A year later, Emaar began work on Dubai Marina and followed this by the development of the Emirates Living Community developments (The Springs, The Meadows, Emirates Hills, The Views). The Emirates Living Community developments were first announced on leasehold basis, but unfortunately weren't a big success in the market.
The major property boom in Dubai occurred in May 2002, when Dubai's crown prince General Sheikh Mohammed bin Rashid Al Maktoom issued a decree to allow foreigners to buy and own freehold property in selected areas of the city, know referred to as New Dubai. The same month also witnessed the announcement of Nakheel's manmade island, The Palm Jumeirah, which followed a year later by the second man-made palm-shaped island, The Palm Jebel Ali. All previously developed leasehold property was automatically transferred to freehold.
After the initial property boom, various new developers joined the market, the most popular of which are Damac Properties, Dubai Properties (Estithmaar Realty Fz), and ETA Star Properties. Freehold property in Dubai is currently limited to areas on Sheikh Zayed Road, Jumeirah, Jebel Ali and along the Emirates Road.
Dubai Freehold Property Law
On the 14th of March 2006, Dubai's government issued its long-awaited law legalising foreign ownership of properties in designated areas of Dubai (article), but doesnt give property owners permanent residence visas or an automatic right to work in Dubai (article).
Freehold in the rest of the United Arab Emirates
Once Dubai began its offering of freehold properties to citizens of other countries, the other emirates weren't to far behind to follow in Dubai's footsteps.
Ras Al Khaimah
Ras Al Khaimah was the first emirate to emulate Dubai, which included its 1,300 residential unit development named Al Hamra Village expected to be completed by 2007. The second freehold development for Ras Al Khaimah, is spread across 50 acres of beachfront land of the five-star resort facility is The Cove. Another popular RAK property is the 1 million square meter tourist development, Saraya Islands.
Ras Al Khaymah's government has setup its own public joint stock property development company, RAK Properties, which received freehold rights for all its properties from the city's ruler in November 2005 (article). RAK Properties has a wide range of projects planned for the city, which includes Julfar Towers, Mina Al Arab, Mangrove Island, and Khor Qurm.
Ajman
Ajman was the second emirate to follow, when they announced its 15 freehold residential apartment buildings named Al Naeemiya Towers, which is expected to be fully complete by 2006. The same company who developed the Al Naeemiya Towers have continued their portfolio of ajman properties with Al Khor Towers, Al Rashidiya Towers, and Al Corniche Tower. Tameer Real Estate announced its development of a US$ 300 million (AED 1.1 billion) freehold residential and commercial project in Ajman, entitled Al Ameera Village, which is being built on the Emirates Ring Road and expected to be complete by 2007. Other Emirates Road projects include Emirates City, and Al Humaid City.
Sharjah
Sharjah has also begun offering property for foreign ownership, but it has presently stuck with leasehold. Some of its upcoming towers include ABBCO Tower, Sharjah Gate, 32-storey Al Taawun Tower, and the 47-storey Al Sandos Tower. Tameer also has various towers it will be building throughout Sharjah and Al-Hanoo is developing the 60 million square foot Nujoom Islands.
Umm Al Quwain
Tameer is also developing the Emirates Modern Industrial Area that will mainly cater to the manufacturing industry, which is being built near the famous UAQ Aviation Club. In addition to this, Tameer will also be developing the AED 30 billion Al Salam City, which will be situated along the Emirates Road in Umm Al Quwain and completed by 2010. Umm Al Quwain's property ownership law states that non-GCC nationals can own property but not the land (article).
Fujairah
Fujairah's efforts into the freehold market have been limited to the 43-storey 170-meter Al Jabar Tower, which will contain 270 residential apartments, commercial shops and showrooms and is being developed by Al Jabel Contracting.
Abu Dhabi and Al Ain
Abu Dhabi's property law came into effect on the 14th of August 2005, when Abu Dhabi's government announced the permitting of 99-year land ownership and renewable 50-year surface ownership to foreigners in specified areas in Abu Dhabi (article). Properties by Aldar Properties and the Al Reef Villas project by Manazel and Hydra Properties will permit foreign ownership according to the new property law.
The Definition of Freehold
The United Arab Emirates currently doesn't have a federal law defining freehold. Once the freehold property law is in effect, it will means that the property purchased by a foreigner will be put his/her name for life, which allows him/her to register the property in the Lands Department. The owner will then have full rights to the property and has the right to sell, lease or rent their property at their own discretion. Property owners and their immediate family, will obtain renewable residence visas for life, which can cost Dhs. 5,000 per person.
Wednesday, May 26, 2010
1.
Step 1
Wells Fargo is very clear about what a mortgage customer should do if they're at risk of missing a payment.
"The sooner a customer notifies us of a problem, the more options we'll have available to help," the bank says.
"Homeowners should begin by calling us and expressing their interest in keeping their home; the sooner a homeowner reaches us, the more options we have to find a solution. Timing is critical for borrowers facing financial difficulty."
2.
Step 2
Customers should contact the appropriate Wells Fargo office:
Wells Fargo Home Mortgage Customer Service: (800) 678-7986
Wells Fargo Home Mortgage ARM Reset Help: (866) 398-7556
Wells Fargo Financial: (800) 275-9254
Wells Fargo Home Equity: (800) 944-4601
The customer's most recent statement or payment coupon provides the best information about which number to call.
3.
Step 3
Wells Fargo says that the troubled borrower can prepare for the call by gathering income and expense documentation including pay stubs, household bills such as utility and telephone bills, grocery expenses, transportation costs and any other required expenses that the household must meet each month such as school fees or college tuition payments.
Additionally, customers need to know their loan number, which is listed on their monthly statement.
"This helps us understand the customer's complete financial picture," the bank says, adding that, even if the customer is too depressed and panicked to gather all the information they should still get on the phone.
"The most important thing is to call," Wells Fargo says.
4.
Step 4
Wells Fargo Home Mortgage says it has a number of options available to help customers facing financial difficulties and, which will gladden every homeowners heart, only uses foreclosure as a very last resort.
"We make every attempt within the confines of investor requirements to develop an individualized solution that helps our customers get through a difficult time so they can stay in their homes," the bank says.
5.
Step 5
One Wells Fargo option that may be offered to troubled borrowers is a "Repayment Plan."
"A repayment plan is one of the more common solutions we employ for customers in default," the bank says. "It is a plan that allows the customer to cure the delinquency over time, while still making their regular mortgage payments."
6.
Step 6
Another option that may be available is called a "Loan Modification."
"Customers in default may also be given an option to modify their current loan," Wells Fargo says.
"A loan modification changes one or more terms of the original note, such as the interest rate or unpaid principal balance. A loan modification brings a delinquent account current because the past due interest and escrow are added to the unpaid principal balance, which is then re-amortized over the new terms."
7.
Step 7
Another possible Wells Fargo option is "Partial Claim" of "Claim Advance."
"For some customers who have loans insured by HUD or a private mortgage insurance company, a partial claim or claim advance may also be an option," the bank says.
"In this situation, HUD or the mortgage insurer would advance funds to reinstate all or part of the past-due payments and the customer would sign a note to HUD or the mortgage insurer for the amount of the advance. The note can sometimes be secured by a subordinate lien on the home.
"The borrower would resume regular payments on the loan and is responsible for payment of the note to the insurer. Oftentimes, repayment of the note isn't required until the time that the mortgage is paid off, thus not increasing the borrower's monthly mortgage payment."
8.
Step 8
If you want to put it all behind you, a further option from Wells Fargo is the "Short Sale."
"A short sale can be considered for borrowers who wish to sell their home," the bank says.
"The proceeds of the sale are used to pay off the mortgage. Any amounts still remaining due on the loan may be waived.
"This option is generally available when market conditions place the home' s value at an amount less than the total amount owed and resulting sale proceeds are short of total amount owed to pay off the mortgage obligation."
9.
Step 9
And yet another option for the beleaguered borrower is the "Deed-in-lieu."
"A deed-in-lieu is an option that allows the borrower to voluntarily transfer the property back to the investor rather than foreclosing on the property," Wells Fargo explains.
"This is based on investor approval and determined based on the reason for hardship. In some cases, a borrower may be required to contribute funds to facilitate this transaction. It may also be required that the borrower list the property on the market at fair market value to attempt to liquidate the property prior to acceptance of a deed-in-lieu."
10.
Step 10
Wells Fargo says it will not usually accept partial payments of money owed.
"Unless the customer has a partial payment agreement in place with our loss mitigation department, we cannot accept partial payments," the bank explains.
"Without a prior arrangement, if a partial payment is received, the funds are deposited in a holding account known as suspense. The funds will remain in the suspense account and the loan is not credited until additional funds are received to make the full mortgage payment."
11.
Step 11
Wells Fargo says they are always willing to work with customers and are able to provide help to a majority of those in trouble with payments.
"We will be able to help most customers, but not all," the bank says.
"For example, if the loan they have with our company is sold to investors, we look for solutions that align with the customer's financial circumstances while respecting the contract requirements that we have with investors.
"Customers should continue to stay in touch with us to see if new solutions become available that might work for their situation.
"As our economy and interest rates continue to change, solutions may be available today that were not available a month ago.
12.
Step 12
Wells Fargo says the process of offering mortgage help does not differ much for either a homeowner who is missing a regular payment or a homeowner whose mortgage is about to reset.
"Borrowers only need to make sure they contact the correct Wells Fargo customer service team," the bank says.
Again, those numbers are:
Wells Fargo Home Mortgage Customer Service: (800) 678-7986
Wells Fargo Home Mortgage ARM Reset Help: (866) 398-7556
13.
Step 13
Wells Fargo says there are generally no fees associated with a particular workout option for borrowers, but that this can vary based on individual cases.
"Fees that may already exist on the loan -- for example, attorney fees for a foreclosure -- must be dealt with in some fashion through that particular workout option," the bank says.
Step 1
Wells Fargo is very clear about what a mortgage customer should do if they're at risk of missing a payment.
"The sooner a customer notifies us of a problem, the more options we'll have available to help," the bank says.
"Homeowners should begin by calling us and expressing their interest in keeping their home; the sooner a homeowner reaches us, the more options we have to find a solution. Timing is critical for borrowers facing financial difficulty."
2.
Step 2
Customers should contact the appropriate Wells Fargo office:
Wells Fargo Home Mortgage Customer Service: (800) 678-7986
Wells Fargo Home Mortgage ARM Reset Help: (866) 398-7556
Wells Fargo Financial: (800) 275-9254
Wells Fargo Home Equity: (800) 944-4601
The customer's most recent statement or payment coupon provides the best information about which number to call.
3.
Step 3
Wells Fargo says that the troubled borrower can prepare for the call by gathering income and expense documentation including pay stubs, household bills such as utility and telephone bills, grocery expenses, transportation costs and any other required expenses that the household must meet each month such as school fees or college tuition payments.
Additionally, customers need to know their loan number, which is listed on their monthly statement.
"This helps us understand the customer's complete financial picture," the bank says, adding that, even if the customer is too depressed and panicked to gather all the information they should still get on the phone.
"The most important thing is to call," Wells Fargo says.
4.
Step 4
Wells Fargo Home Mortgage says it has a number of options available to help customers facing financial difficulties and, which will gladden every homeowners heart, only uses foreclosure as a very last resort.
"We make every attempt within the confines of investor requirements to develop an individualized solution that helps our customers get through a difficult time so they can stay in their homes," the bank says.
5.
Step 5
One Wells Fargo option that may be offered to troubled borrowers is a "Repayment Plan."
"A repayment plan is one of the more common solutions we employ for customers in default," the bank says. "It is a plan that allows the customer to cure the delinquency over time, while still making their regular mortgage payments."
6.
Step 6
Another option that may be available is called a "Loan Modification."
"Customers in default may also be given an option to modify their current loan," Wells Fargo says.
"A loan modification changes one or more terms of the original note, such as the interest rate or unpaid principal balance. A loan modification brings a delinquent account current because the past due interest and escrow are added to the unpaid principal balance, which is then re-amortized over the new terms."
7.
Step 7
Another possible Wells Fargo option is "Partial Claim" of "Claim Advance."
"For some customers who have loans insured by HUD or a private mortgage insurance company, a partial claim or claim advance may also be an option," the bank says.
"In this situation, HUD or the mortgage insurer would advance funds to reinstate all or part of the past-due payments and the customer would sign a note to HUD or the mortgage insurer for the amount of the advance. The note can sometimes be secured by a subordinate lien on the home.
"The borrower would resume regular payments on the loan and is responsible for payment of the note to the insurer. Oftentimes, repayment of the note isn't required until the time that the mortgage is paid off, thus not increasing the borrower's monthly mortgage payment."
8.
Step 8
If you want to put it all behind you, a further option from Wells Fargo is the "Short Sale."
"A short sale can be considered for borrowers who wish to sell their home," the bank says.
"The proceeds of the sale are used to pay off the mortgage. Any amounts still remaining due on the loan may be waived.
"This option is generally available when market conditions place the home' s value at an amount less than the total amount owed and resulting sale proceeds are short of total amount owed to pay off the mortgage obligation."
9.
Step 9
And yet another option for the beleaguered borrower is the "Deed-in-lieu."
"A deed-in-lieu is an option that allows the borrower to voluntarily transfer the property back to the investor rather than foreclosing on the property," Wells Fargo explains.
"This is based on investor approval and determined based on the reason for hardship. In some cases, a borrower may be required to contribute funds to facilitate this transaction. It may also be required that the borrower list the property on the market at fair market value to attempt to liquidate the property prior to acceptance of a deed-in-lieu."
10.
Step 10
Wells Fargo says it will not usually accept partial payments of money owed.
"Unless the customer has a partial payment agreement in place with our loss mitigation department, we cannot accept partial payments," the bank explains.
"Without a prior arrangement, if a partial payment is received, the funds are deposited in a holding account known as suspense. The funds will remain in the suspense account and the loan is not credited until additional funds are received to make the full mortgage payment."
11.
Step 11
Wells Fargo says they are always willing to work with customers and are able to provide help to a majority of those in trouble with payments.
"We will be able to help most customers, but not all," the bank says.
"For example, if the loan they have with our company is sold to investors, we look for solutions that align with the customer's financial circumstances while respecting the contract requirements that we have with investors.
"Customers should continue to stay in touch with us to see if new solutions become available that might work for their situation.
"As our economy and interest rates continue to change, solutions may be available today that were not available a month ago.
12.
Step 12
Wells Fargo says the process of offering mortgage help does not differ much for either a homeowner who is missing a regular payment or a homeowner whose mortgage is about to reset.
"Borrowers only need to make sure they contact the correct Wells Fargo customer service team," the bank says.
Again, those numbers are:
Wells Fargo Home Mortgage Customer Service: (800) 678-7986
Wells Fargo Home Mortgage ARM Reset Help: (866) 398-7556
13.
Step 13
Wells Fargo says there are generally no fees associated with a particular workout option for borrowers, but that this can vary based on individual cases.
"Fees that may already exist on the loan -- for example, attorney fees for a foreclosure -- must be dealt with in some fashion through that particular workout option," the bank says.
Tuesday, May 25, 2010
Difference Between Charge, Credit, and Debit Cards
A 'Charge Card' carries no pre-set spending limit and the statement balance must be paid in full at the end of the billing cycle (usually every month). The most recognised charge cards on the market today are American Express and Diners Club.
A 'Debit Card' is like an ATM card that you have with your savings account. With this type of card, you must have funds in the card account before you can make a withdrawal.
In contrast, a 'Credit Card' carries a pre-set credit limit and only a minimum payment is required to be paid each month (interest is applied to balances not cleared in full).
A 'Debit Card' is like an ATM card that you have with your savings account. With this type of card, you must have funds in the card account before you can make a withdrawal.
In contrast, a 'Credit Card' carries a pre-set credit limit and only a minimum payment is required to be paid each month (interest is applied to balances not cleared in full).
Monitered Security System
A monitored security system could help you and your family feel safer in your home, and protect the investment you've made. A system guards your home, belongings and family while you're there as well as when you're away.
A monitored home security system protects your family from the dangers of:
* Intrusion through any door or window.
* Smoke or fire.
* Carbon monoxide leaking into your home.
* Water damage caused by broken pipes or bad weather.
* A medical emergency or panic situation.
High quality monitored security systems are encouraged by insurance companies, who will often offer a discount on your home insurance costs if you have a system in place. Today's monitored systems:
* Ensure prompt response to a break-in, fire or hazardous situation.
* Let you summon help with a button that activates a silent alarm or a siren.
* Allow two-way communication. If you trip the alarm accidentally, you give the operator a security code and cancel the alarm.
One study suggests that homes with monitored security are three times less likely to be burglarized. Complete systems protect in many ways:
* Perimeter alarms give early warning of an intrusion.
* Glass-break detectors and door/window contacts detect entry through basement, ground floor or other windows.
* Strategically located infrared motion detectors make sure an intruder will be detected.
* Your system can tell you where the intruder is, or was.
* Loud sirens will scare the intruder away, or silent alarms can alert police without the intruder knowing.
* Warning decals on points of entry can scare off a would-be burglar.
Investing in a monitored security system could make a big difference to your family's peace of mind. You could feel safer in just a day or two!
A monitored home security system protects your family from the dangers of:
* Intrusion through any door or window.
* Smoke or fire.
* Carbon monoxide leaking into your home.
* Water damage caused by broken pipes or bad weather.
* A medical emergency or panic situation.
High quality monitored security systems are encouraged by insurance companies, who will often offer a discount on your home insurance costs if you have a system in place. Today's monitored systems:
* Ensure prompt response to a break-in, fire or hazardous situation.
* Let you summon help with a button that activates a silent alarm or a siren.
* Allow two-way communication. If you trip the alarm accidentally, you give the operator a security code and cancel the alarm.
One study suggests that homes with monitored security are three times less likely to be burglarized. Complete systems protect in many ways:
* Perimeter alarms give early warning of an intrusion.
* Glass-break detectors and door/window contacts detect entry through basement, ground floor or other windows.
* Strategically located infrared motion detectors make sure an intruder will be detected.
* Your system can tell you where the intruder is, or was.
* Loud sirens will scare the intruder away, or silent alarms can alert police without the intruder knowing.
* Warning decals on points of entry can scare off a would-be burglar.
Investing in a monitored security system could make a big difference to your family's peace of mind. You could feel safer in just a day or two!
Friday, May 21, 2010
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Insurance Blog
Mortgage and Property
The Call Experts
European Property
Buyers and sellers of European property are reportedly holding off from making any transactions because of the continued uncertainty over the direction of the sterling/euro exchange rate.
There is almost an equal amount of evidence to support both currencies seeing increased strength in the near future. So it is understandable the both sides are waiting.
“A lot of investors are sitting tight at the moment as no one’s really certain what will happen,” says Tom Holian, a dealer at Foreign Currency Direct.
Last year the strength of sterling against the euro completely collapsed, and continued to fall. In the final quarter of last year it plumbed the depths of 1.00GBP/1.05EUR, and there was even talk of the two reaching parity with each other — this was averted when the UK successfully pulled out of recession.
Since then sterling has been slowly clawing its way back up, with 1.10 euros becoming the new ceiling as we progressed through the first quarter of this year. Sterling was helped immensely by the eurozone debt explosion in Greece, which weakened investors’ faith in the euro and sent sterling to the dizzy heights of 1.15 euros, with 1.13 being the new average.
This is where we hit the standoff. On the one hand you have the massive debt problems in the Eurozone, which continue to put downward pressure on the strength of the euro against all currencies except sterling. This is because, on the other hand you have the fact that the UK also has a massive budget deficit in need of spending cuts, and the massive uncertainty caused by the impending General Election.
The election could easily weaken sterling, in fact it is unlikely to strengthen it, whilst the Eurozone debt balloon still has a long story to tell, and sterling will likely strengthen during this.
A hung parliament is likely to spell weakness – though analysts at Foreign Currency Direct believe this is already in the price. However, both World First and Foreign Currency Direct think that sterling will strengthen later in the year against the euro.
Today the UK released its GDP figures for the first quarter, which show a 0.3% growth in the UK economy year-on-year, and a 0.7% growth over Q4 2009. Now we wait on Eurostat to reveal the EU’s first quarter results, to see what currency is going to really benefit here.
With all this uncertainty, it is understandable that people would rather wait and see before buying and selling property in Europe.
But given the circumstances, if the euro does have a run against sterling following the election, it is likely that there will be a rush on euro to sterling conversions, as people know that it is most likely to be a one-way street in favour of sterling for as long as it takes Europe’s debt issues to be resolved.
There is almost an equal amount of evidence to support both currencies seeing increased strength in the near future. So it is understandable the both sides are waiting.
“A lot of investors are sitting tight at the moment as no one’s really certain what will happen,” says Tom Holian, a dealer at Foreign Currency Direct.
Last year the strength of sterling against the euro completely collapsed, and continued to fall. In the final quarter of last year it plumbed the depths of 1.00GBP/1.05EUR, and there was even talk of the two reaching parity with each other — this was averted when the UK successfully pulled out of recession.
Since then sterling has been slowly clawing its way back up, with 1.10 euros becoming the new ceiling as we progressed through the first quarter of this year. Sterling was helped immensely by the eurozone debt explosion in Greece, which weakened investors’ faith in the euro and sent sterling to the dizzy heights of 1.15 euros, with 1.13 being the new average.
This is where we hit the standoff. On the one hand you have the massive debt problems in the Eurozone, which continue to put downward pressure on the strength of the euro against all currencies except sterling. This is because, on the other hand you have the fact that the UK also has a massive budget deficit in need of spending cuts, and the massive uncertainty caused by the impending General Election.
The election could easily weaken sterling, in fact it is unlikely to strengthen it, whilst the Eurozone debt balloon still has a long story to tell, and sterling will likely strengthen during this.
A hung parliament is likely to spell weakness – though analysts at Foreign Currency Direct believe this is already in the price. However, both World First and Foreign Currency Direct think that sterling will strengthen later in the year against the euro.
Today the UK released its GDP figures for the first quarter, which show a 0.3% growth in the UK economy year-on-year, and a 0.7% growth over Q4 2009. Now we wait on Eurostat to reveal the EU’s first quarter results, to see what currency is going to really benefit here.
With all this uncertainty, it is understandable that people would rather wait and see before buying and selling property in Europe.
But given the circumstances, if the euro does have a run against sterling following the election, it is likely that there will be a rush on euro to sterling conversions, as people know that it is most likely to be a one-way street in favour of sterling for as long as it takes Europe’s debt issues to be resolved.
Thursday, May 20, 2010
What's our total tab now in shoring up Fannie Mae and Freddie Mac? About $200 billion?
How much more will we subsidize these losers?
What is so special about home ownership that it deserves all these subsidies? I rent. I'm a blogger. I'll never own a home. I'll never get unemployment insurance. In bailout nation, there's no bailout for the humble blogger.
Alan Zibel writes: WASHINGTON (AP) — Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It's another sign that the taxpayer bill for stabilizing the housing market will keep mounting.
The McLean, Va.-based mortgage finance company has been effectively owned by the government after nearly collapsing in September 2008. The new request will bring the total tab for rescuing Freddie Mac to $61.3 billion.
But the company's CEO Charles Haldeman said, "We are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas."
How much more will we subsidize these losers?
What is so special about home ownership that it deserves all these subsidies? I rent. I'm a blogger. I'll never own a home. I'll never get unemployment insurance. In bailout nation, there's no bailout for the humble blogger.
Alan Zibel writes: WASHINGTON (AP) — Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It's another sign that the taxpayer bill for stabilizing the housing market will keep mounting.
The McLean, Va.-based mortgage finance company has been effectively owned by the government after nearly collapsing in September 2008. The new request will bring the total tab for rescuing Freddie Mac to $61.3 billion.
But the company's CEO Charles Haldeman said, "We are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas."
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