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Submitted by: Mark Walters

Can distressed home owners expect a foreclosure rescue plan to save the day?

Glad you asked, because the Federal Deposit Insurance Corp has been working on just such a plan, It’s is designed to rescue between two and three million homeowners. By the time you read this the plan will probably have hit the street in some form.

The key element of the foreclosure rescue plan is to motivate banks to rework real estate loans rather than foreclosing on homes. Your generous government will remove the bank’s risk by providing a partial federal guarantee for any losses on all the modified mortgages that meet certain criteria.

Remember that $700 billion bailout fund? That’s right, the one that passes out a few million to any Wall Street firm that made money losing investments. Well the foreclosure rescue plan would use between $40 billion and $50 billion of that money to underwrite the rescue.

Couple this plan with the recent announcement by some of the United States’ major banks that they are halting real estate foreclosures and reworking many mortgage loans. All this should halt the slide in real estate values, right? Maybe not

Douglas Elmendorf is a real smart guy and former Clinton advisor. Good old Doug says, “Even an ambitious program of mortgage modifications will not prevent a further decline in house prices.”

“It might prevent an overshooting of house prices on the downside. But houses still look overvalued relative to people’s rents or incomes, and it’s going to be very difficult to sustain house prices at their current level.”

History has shown that any market must have a complete correction before it can begin moving to the up side, so it should come as no surprise that any attempt to keep home values artificially high will just postpone the inevitable and delay the eventual recovery.

The bad news is that foreclosure sales have continued to drive price declines and fueled an increase in sale transactions in key local markets across the nation and there is no sure end of foreclosures in sight.

The Federal Reserve reports that the nation’s troubled economy has scared the pants off of foreign and domestic banks. They further tightened access to mortgage credit recently. A survey of 55 domestic and 21 foreign banks indicated that the large majority of domestic banks reported tightening their lending standards on prime, nontraditional and subprime residential mortgages over the past three months.

Lending standards have even increased on prime mortgage loans. When it comes to prime mortgages about 70% of the banks tightened lending requirements. It should be no surprise that 90% of the banks tightened the screws on nontraditional mortgages.

Tighter lending standards generally lead to reduced borrowing, which explains why 50 percent of domestic lenders experienced weaker demand for prime residential mortgages. 70% even indicated weaker demand for nontraditional mortgage loans and jumbo loan products.

While lenders have been making it more difficult for potential home buyers to qualify for mortgage financing interest rates have been inching up. That’s a double whammy for home prices. If people can’t afford or qualify for a mortgage they can’t buy a home.

The final result is fewer buyers for an increasing number of homes for sale. Can those financial geniuses in Washington really come up with a foreclosure rescue plan that doesn’t do even more damage to what’s left of the free market? I wouldn’t bet on it.

About the Author: Mark Walters is a third generation real estate investor andis offering a Free copy of his big guide to finding private and

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By Morgan Hamilton

You should get retail store credit cards if you are just starting to establish a credit history. These credit cards still report to the major credit bureaus even though they are not backed by a major credit card company. You can get retail store credit cards from a retail store and you can only use them for that particular retail store. You can enjoy a lot of benefits when you get these credit cards.

It is easier to get retail store credit cards than other types of credit cards because the balance is low. If you default on your payments, the retail store can usually obtain their money easily without a huge loss. These credit cards work somewhat like a traditional credit card, but can they only be used at the issuing retailer’s locations. You can charge your purchases to the card and then pay the balance before the end of the grace period.

You will be charged with the interest if you are unable to pay the balance on time. You can easily get retail store credit cards because the retailer is guaranteed to get your business. The retailers earn profit every time you use the credit card because the card cannot be used elsewhere. The retailers can also make a little extra money off the fees and interest charges.

Do you know that you can benefit from having this credit card on the moment that you sign up? You can benefit from a discount that many retail stores offer on purchases that you make on the day you sign up for this card. You can save money on your purchases and keep your money in your pocket on the day that you get these cards.

You can also receive a free gift that may be paired with the discount offer. You can get an umbrella, cosmetics or other store merchandise as a free gift. You may also get special notices about sales before the general public.

In the last few years, the popularity of retail store credit cards has increased. The additional perks that come with this credit card make it worthwhile in the eyes of many people. You can easily budget your purchases with the help of retail store credit cards. These cards can also come in handy for early bird sale specials. You can also learn how credit cards work and avoid overspending through retail store credit cards because you can only use your card at a particular store.

About the Author: Morgan Hamilton offers expert advice and great tips regarding all aspects concerning Credit Cards. Get the information you are seeking now by visiting

getqualitycreditcards.com/categories/retail-store-cards

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By Gilbert Imlay

At times, an individual may be faced with an urgent monetary requirement and not have the necessary security to place as collateral against a financial loan. In such circumstances, he needs to be cautious about the loan plan which he applies for as only unsecured loans can meet his need for loans without collaterals. If such an individual has a poor credit history, then his chances of getting a suitable loan are further diminished, as the poor credit history of a borrower without collaterals is considered as a high risk category by many lenders. However, such a situation does not mean that one cannot get easy financial loans but it simply means that you need to apply for the right category of loans that are meant to cater to special financial cases like yours. The bad credit unsecured loans are one such category of loans which you could find very beneficial considering your financial constraints and special credit rating.

A bad credit could happen to anyone and any financial lender offering the bad credit unsecured loans will understand this situation. Hence, any individual with poor credit ranking and no guarantee to be placed against a financial loan can opt for these unsecured loan options. Also, since a home is the most commonly placed security against a loan, a tenant could also make use of the bad credit unsecured loans, to meet any urgent financial requirements. A potential borrower must, however, realize that unsecured loans come at a higher rate of interest than the secured ones and a bad credit further increases the already high interest charged by lenders. The high interest rate is meant to minimize the risk of a lender against potential loss of the principal amount of loan; hence, the borrower should be prepared to shoulder the burden of such interest rates in lieu of instant cash access.

If you opt for the bad credit unsecured loans, you have the advantage of not placing any asset as collateral against the loan, which could be claimed by the lender in case of non repayment or delayed repayment of the loan. However, this does not imply that the lender cannot take any legal action against the borrower or penalize him due to payment defaults. Non repayment or delayed repayment of the loans will only further increase the bad credit rating of the borrower, adversely affecting the existing bad credit rating and making it even worse.

The online facility offered by most lenders, make it easy to apply for and get access to the bad credit unsecured loans. A potential borrower only needs to fill up the online application form available at the lender’s website, with his basic personal and financial status. The lender verifies the accuracy of the information thus provided and gives instant decision on the loan approval. Once the loan has been approved, the loan amount may be transferred to the borrower’s account within 24 hours of the loan approval, making it convenient for him to meet any urgent financial requirements. It is no wonder, therefore, that the unsecured loans for bad credit holders are fast climbing the ladder of popularity.

About the Author: Gilbert Imlay is a financial advisor with years of experience and specializations in unsecured loans UK, unsecured loans, bad credit unsecured loans, unsecured loans UK and unsecured debt consolidation loans. For more information visit

ukunsecuredloans.me.uk

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By Anu Kool

So you think that maybe one or two (or more) bootleg movie download wouldn’t be that bad, right? After all, how can it possibly affect the rest of the world’s film industry when it is just one movie, after all? Or is that, one movie download at a time? Unfortunately, that one movie represents months of hard work, not to mention the pre and post production labor that usually goes along with it; and the very large amount of money being invested into its making and promotion. Investing money in one Hollywood movie project can easily go into millions of dollars. Although other movie outfits in other parts of the globe do not invest as much, one movie still represents a huge amount of financial resources.

From a lone individual’s point of view, a bootleg movie download is just that: one digital file to watch and discard or collect afterwards. But for most movie outfits out there that have investments running on each movie project, including contracts with CD/DVD distributors, they only see continuous downloads from different individuals, from all over the globe, all at the same time. These individual ‘pirates’ no longer feel the need to pay for the movies they are watching, which basically represents huge losses in potential CD/DVD sale.

Additionally, there are other people who see this as an opportunity to make money the underground way. According to a recent study, over 100 million pirated CDs and DVDs are flooding the black markets, selling pirated versions of the most recent films. Some of these films are in fact, still being shown in cinemas at the same time. On this note, selling pirated copies like these represents huge losses in potential movie theater ticket sales.

Both scenarios constitute revenue loss for the film industry and not by a marginal percentage either. It is estimated that the loss of potential income for one movie, (including possible ticket sales, CD/DVD distribution rights, etc.) is close to 35% of the actual movie earnings.

If such statistics confuses you, then we should clarify. That money that pirates (individuals to organized groups) eventually cull from movie outfits earnings could have been used to help save the jobs of many studio workers, particularly the blue-collars who perform the grittiest tasks like maintenance, set construction, etc. After all, a movie is not just about actors and directors. The same money could also have been used to improve movie production by hiring more post-prod talents like animators, video editors, etc.

Although most of us do not feel the effects of bootleg movie download on a personal level, this practice is actually making it difficult to sustain a film industry that basically runs on financial revenue. So in turn, the film industry has no other option but to raise theater ticket prices and CD/DVD prices, just to break even.

In case you haven’t noticed, the higher the prices of legit movies become, the more pirated copies emerge. The funny thing about this is that people reason that they only practice bootleg movie download because theater prices are too high or the CD/DVD is too expensive.

One way of stopping this out-of-the-frying-pan-and-into-the-fire practice is to subscribe to legal online movie distributors like BootlegMovieDownload.ws. Yes, there is an asking fee. But their rates are more than reasonable, considering that one movie ticket in cinemas now can sometimes cost you more than $15; and more importantly, online companies like this give back due resources to movie outfits with distributor’s fees.

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By Michael Sterios

If you’re a homeowner, you’ll know only too well the cost of owning a house. With ongoing maintenance costs, council tax and more, often being a homeowner is at the expense of things like holidays and new cars. However, this needn’t be the case, with remortgages proving extremely popular over the last few years when it comes to needing extra money.

Additionally, remortgages are also an excellent way to make sure you continue to get the best interest rate available, and offers you the chance to change mortgage lenders or providers if necessary. Despite this, many people still aren’t taking advantage of this opportunity, through a mixture of misunderstanding and belief they have the best deal anyway. This is why it’s important to look at what a remortgage can offer you.

Getting a Better Interest Rate

One of the prime reasons for remortgaging your home is that it can help you choose a better interest rate than what you’re currently paying. For example, when you first buy your house, you’ll usually either take out a fixed-rate mortgage or one that has a variable rate.

Because interest rates fluctuate quite often, it doesn’t make sense staying in a fixed interest rate mortgage that is charging 5%, when you could easily swap to one that’s only charging 4.5%. The same goes for variable interest mortgages – use the opportunity that a remortgage offers you to swap to a lender that can offer you a lower interest rate than what you’re currently paying. Even if you find that there’s a penalty for doing this, the savings you make will be more than worth the cost.

Release the Equity in your Home

Another benefit that remortgaging your home can offer is that it can release a lump sum of money whenever you need it. This can be for a variety of reasons, and best of all it’s often far cheaper than taking out a more traditional loan from a bank or similar.

Many homeowners are now using the equity in their home to pay for things like a child’s wedding; home improvements and renovations; or even a luxury cruise for a special occasion, such as a golden wedding anniversary. You can even use the money release by a remortgage to buy yourself a new car – unlike a lot of normal loans, there’s no restrictions on what you use the money for.

How it Works

One of the reasons there are still so many people not making use of this easy way to free up some extra money is that they misunderstand what a remortgage involves. However, it’s a fairly straightforward process yet can make such a difference to you financially.

At its simplest, remortgaging your home is simply replacing your current mortgage with a new one. This may mean only changing the type of mortgage you have with your current lender, or changing lenders altogether. Just like an actual mortgage, there are a host of different rates and types of remortgages available to you, so before you make the final decision, make sure you shop around.

About the Author: Discuss your Remortgage needs with a qualified Mortgage adviser at ukmortgagesource.co.uk

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