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Monthly Archives: September 2010
In the past couple of weeks, the New York Times, Bloomberg, and The Washington Post have published articles on the slide of home prices in the United States. Each has posed a similar question regarding this issue: Should the housing market be allowed to fall or should the government continue to try to support the market with tax credits and proposed initiatives? Proposed initiatives are “$3 billion to keep the… Continue reading
Check out ProPublica.org’s article on the Coast Guard’s National Pollution Funds Center. In order to get money from the Coast Guard, an applicant must be rejected or have waited at least 90 days after applying without a decision from the BP fund. The Coast Guard fund has narrower eligibility guidelines and cannot issue settlements as large as the BP fund’s settlements.
Actor Kevin Costner invested $24 million in Ocean Therapy Solutions, a fleet of barges equipped with devices that use centrifuge to separate oil from ocean water. The ships act as first responders during a spill, cleaning water that skimmer ships have harvested. The biggest device can process about 210,000 gallons a day, according to Ocean Therapy.
BP bought such ships after its well exploded in April. If you want… Continue reading
The Washington Post reports:
“As head of Ally Financial’s foreclosure document processing team, 41-year-old Jeffrey Stephan was required to review cases to make sure the proceedings were legally justified and the information was accurate. He was also required to sign the documents in the presence of a notary.
In a sworn deposition, he testified that he did neither. He approved thousands of foreclosures from the nation’s biggest mortgage companies… Continue reading
The prestigious MIT Center for Real Estate has a website that is always brimming over with great articles, including one about how to build a $1,000 house. Currently, MIT’s William C. Wheaton, a Department of Economics professor, has posted an article that offers his blueprint for saving the U.S. housing market. Here is a little taste:
“To fix the underwater loan problem, existing mortgages could be restructured into two… Continue reading
With one out of four US mortgages underwater, Columbia University economist and Nobel Prize winner Joseph Stiglitz offered banks some urgent advice. “Evictions merely create more homeless people and more vacant homes,” Stiglitz said in a recent podcast (which you can hear by following this link).
“What is needed is a quick write-down of the value of the mortgages. Banks will have to recognize the losses and, if… Continue reading
Introducing: Collateral Vision Tech Thursday
Each Thursday, FNC marketing manager and social media moderator Nora Brown will blog about technology and how it affects the real estate industry.
Until then, check out some of our current favorite tech and industry blogs (and the Twitter users behind them):
If you join FNC’s free webinar this Tuesday at 1 p.m. (CDT), you will learn how to use our new free online Residential Price Index—and how to pinpoint zip codes that are recovering economically and ripe for investment as well as those buffeted and battered. (Those of you in Florida and Texas will find this particularly interesting).
You can register by clicking here.
In the meantime, here are the… Continue reading