Duration : 0:4:46

Technorati Tags: cavuto, fighting foreclosure, finance, foreclosure, forensic loan audit, laon mod, laon modification, late mortgage payments, loan, loan audit, loan mod, loan modification, loan modifications, LoanMod.com, loans, modify loan, Neil Cavuto, refinance, restructure loan, short sale, stop foreclosure, stop foreclosures

Duration : 0:9:28

Technorati Tags: apply, Axis, Bajaj allianz, business loan, busness, compare, credit card, finance, hdfc, health insurance, home loan, ICICI, investments, Kotak, life insurance, Lombard, Moneyguru, personal finance, personal loan, Rupeetalk, satkam divya, savings, Standard Chartered, Zee

Part 2 (Excerpt)

The median income family can afford twice the median priced home; prices drop over 50%

And now I mentioned Dan Havey is back in the studio with us, Dan has done a lot of great things in the mortgage industry. He left us about a year and a half ago, is that right Dan?

Yes, I left the mortgage industry in October of 2007. Tell us a little bit more about yourself.

As you know I came originally from Wisconsin, where I got a degree in Business Finance and I came out here in 1989 and started working with my brother selling real estate owned-REO, bank owned properties for Fannie Mae, Countrywide, and the Resolution Trust Corporation-RTC which was the government entity that was put in charge of disposing of all the real estate owned by the 1800 S&Ls that had failed. I did that until about 1995 when I moved into the mortgage industry and there for 12 years I worked predominately with bankruptcy attorneys helping their clients get out of bankruptcy and foreclosure. I left the mortgage industry in October of 2007. Now I am working predominately in the arena of marketing for real estate and mortgage companies, helping out companies, just like Im here helping out Michael today, to get people to realize that right now actually is a really good time to buy.

There are a couple of points I want to make and it was something that Michael had said earlier. The first one was that 4% interest rate. Originally Obama said a couple of weeks ago, when he rolled out the mortgage plan, that they were going to take the $200 billion and use it to buy mortgage backed securities, well the article I was reading today said it appears that plan may have changed. Instead of buying the mortgage backs they were actually buying the stock of Fannie and Freddie to help support the company and keep these companies going under. I dont quite understand why being how they own them now.

Well youve got to hand it to the government they have really done a heck of a job helping Fannie Mae out, for instance today the stock is up to $0.41. Wow, doing so well, I remember when it was $150 or so, where it was at the top of the market.

Today, right now is definitely the best time even if rates dont get down to the 4% point. The beauty of it and were going to talk more about this in a later segment, is that we have seen a 51% decline in home values from the peak of the market. So you dont have to have the absolute greatest interest rate in order to be able to buy a house today. The median home price right now is $130,000 in Maricopa County, it was $264,000 just two years ago.

So the median home price is $130,000? We are going to talk a little bit about what a person has to make to actually qualify for that. Well it is definitely well within the means of a median income family. Right now a median income family makes about $64,000 in the state of Arizona according to the US Census Bureau and HUD. I ran some numbers today, I think at 6% interest and at that rate they can buy a $280,000 house. So you can buy twice the median home price if you are making just what the median income family would be in the state of Arizona. So the median household income buys double the median priced house in Maricopa County. That is correct, at 6% interest.

And the reality of it is interest rates are not even that high right now. So for people to be waiting for that perfect interest rate of 4% it doesnt really matter if it gets here or not because right now is such an incredibly fabulous time to be buying a house. There are so many foreclosures out there on the market right now, there are so many short sales out there on the market right now, and the point you made earlier is very important, that people have to get in and get prequalified, know exactly what they can buy. Now in many cases you are going to need a down payment, so get with your mortgage broker, get with Velocity Financial and start working on that program of getting those funds together for the down payment as well.

Dan Havey we talked in the past about whats available for financing these days, interesting to give little pat on the back for Velocity Financial is one of less than 15% of all of the lenders in the state of Arizona that are qualified to do FHA financed homes. Now FHA financing, people used to think it was only for first time home buyers, thats no longer the case. The FHA loan which only requires 3.5% down payment it doesnt matter if you have owned a home before and in many cases you can own another home now so long as your new purchase is going to be your primary residence you can utilize FHA financing and put only 3.5% down.

Duration : 0:6:42

Technorati Tags: 1st, 8000, advice, assistance, Bank, bill, breaks, buy, buyer, credit, debt, deduction, down, downpayment, estate, federal, FHA, finance, financial, First, fixed, foreclosure, government, grant, guide, guidelines, help, home, homebuyer, house, housing, incentives, income, information, interest, lease, lend, lending, limits, loan, low, modification, mortgage, new, no, owner, package, payment, plan, price, Program, property, purchase, qualifications, rate, real, rebate, refinance, Rent, requirements, sale, short, stimulus, tax, time, tips

One year ago, President Obama signed the economic recovery bill aimed at pulling the country out of recession. The bill promised jobs — including many in the nuclear energy industry.

In February, the president announced plans for the government to guarantee more than eight billion dollars in loans for two new nuclear energy centers in the state of Georgia. The Southern Company plans to build the nuclear power centers. The first would start operations in twenty sixteen.

Mister Obama announced the plan at a job training center in Lanham, Maryland. The message was that nuclear energy projects will create jobs. President Obama said: It is a plant that will create thousands of construction jobs in the next few years, and some eight hundred permanent jobs — well paying permanent jobs — in the years to come.

In February, the Federal Reserve predicted that unemployment will remain near current levels through the year. The present rate is nine point seven percent. The central bank said unemployment could remain high for the next two years.

President Obama has received sharp criticism from Republicans over the lack of progress in job creation.

The seven hundred eighty-seven billion dollar American Recovery and Reinvestment Act is also unpopular because of its cost. Critics said the money is being spent too slowly with less than sixty percent being spent so far. But the administration said the measure has saved or created two million jobs.

By supporting nuclear energy, the president may be seeking common ground with Republicans who have called for building as many as one hundred new nuclear power centers.

Mister Obama has linked clean energy with economic growth. He also warned that the United States is falling behind in developing nuclear energy. He said: There are fifty-six nuclear reactors under construction in the world: twenty-one in China alone; six in South Korea and five in India.
The United States has not built a new nuclear power plant in nearly thirty years. American public opinion about nuclear energy has been mixed. In recent years, public opinion studies show more than half of Americans approve of nuclear energy. About one-fifth of the nations electricity is generated by nuclear power.

And that’s the VOA Special English Economics Report.

(Adapted from a radio program broadcast 19Feb2010)

Duration : 0:3:54

Technorati Tags: agriculture, America, american, business, captioned, college, communication, controlled, culture, Development, download, economics, education, efl, elementary, English, esl, farming, finance, food, foreign, gardening, health, higher, history, international, language, Learn, learning, linguistics, medicine, mp3, Music, news, of, plain, radio, report, secondary, simple, special, speech, states, students, subtitled, teach, teacher, teaching, tertiary, texts, transcripts, tv, U.S., United, university, videos, voa, voice

Best Credit Cards To Get
This website offers up-to-date information on online banks’ applications that you can trust. Whether you have great payment history, or if your score is not so good, you can find the best credit cards for you. The best visa cards, best master card and the best mastercard and many more.
This website http://911credit.blogspot.com features the best online credit card applications on the Internet. Consumers agree that our web source is “the best and the most reliable source” to apply online for credit cards. Use our website to compare the online offers from Visa, MasterCard, Discover and American Express in 14 different leading financial companies. Find the best credit card interest rates, zero interest rate credit cards, credit cards with low interest rates, best rated credit card, best apr cards and Internet Credit Card Money Maker.
. http://911credit.blogspot.com
We will help you to find the best credit cards — those with instant approval, low interest, and for zero balance transfers. We make it easy to find online deals for people with excellent score, good score, fair score, bad score and no score.
Best Credit Cards to Get: http://911credit.blogspot.com
You can even use your card and line of credit with Edc gold, passport to wealth, little guy network, lazy wealth system, the secret pays, emerald passport, roadmap to riches, coastal vacations, xango, noni, herbalife, dsa.org, Quixtar, abunza, wealthy marketer, jaguar marketing system and free cash gifting.
Get guaranteed Results FREE! Best Credit Cards To Get. Discover 14 Category-Specific pages of Leading Credit Card offers: Airline Mileage Cards, Cards for Bad Credit, Rewards Cards, Student Cards, Business Credit Cards, 0% Balance Transfer Cards, Low Interest Cards, Automobile & Gas Cards, Chase Credit Cards, Discover Cards, Bank of America Cards, MasterCard Credit Cards, and American Express Cards …

Duration : 0:1:34

Technorati Tags: american, bad, Bank, best, card, Cards, cash, citi, credit, equity, express, finance, mastercard, mortgage, visa

Remember, homeownership is still the single most important investment you can make in your lifetime. Look for other webisodes in this series by searching for “Smart Homeowners” or visit finishrich.com

Duration : 0:5:15

Technorati Tags: automatic millionaire, closing costs, david bach, down payment, finance, financial security, financing, finish rich media, first time homebuyer, get qualified, government tax credit, home, home loan, home prices, homeowner, homeownership, house, investment, mortgage, pre qualified, pre qualify, purchase home, rate, Real-Estate, refinance, refinancing, renting, responsible lender, smart homeowner, smart homeowners

Expert: Patrick Munro
Contact: www.northstarnavigator.com
Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace.
Filmmaker: Reel Media LLC

Duration : 0:1:21

Technorati Tags: budgets, credit, credit scores, debt, finance, financial advice, financial planning, household budgets, investing, managing money, money management, personal budgets, personal finance

Expert: Matthew McKillen
Contact: www.innovativefg.com
Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients.
Filmmaker: Christopher Rokosz

Duration : 0:1:8

Technorati Tags: bankruptcy, banks, equity, finance, foreclosure, help, home, issues, law, legal, lenders, Mortgages, personal, proceedings

Expert: Patrick Munro
Contact: www.northstarnavigator.com
Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace.
Filmmaker: Reel Media LLC

Duration : 0:1:17

Technorati Tags: credit, equity, finance, home, loans, management, money, personal, reports, retirement, savings, scores, security, social

Expert: Richard Blake
Bio: Richard Blake is a licensed real estate agent that has closed more than 20 times the number of transactions per year than that of the average realtor for the last three years.
Filmmaker: Christopher Rokosz

Duration : 0:2:17

Technorati Tags: buying, estate, finance, foreclosure, homes, personal, real, Realtor