Loan Modification to Stop Foreclosure

Author: admin  //  Category: mass real estate

Loan Modification to Stop Foreclosure

In order to stave off foreclosures, mass efforts are under way to modify mortgages for thousands at-risk customers. Fannie Mae and Freddie Mac are freezing foreclosures until 2009. Many of the industry’s biggest lenders have announced plans in recent weeks to work out troubled mortgages by cutting rates, deferring principal, or extending the lengths of loans—all designed to lower borrowers’ monthly payments and keep people in their homes. If banks live up to their promises, the housing market needs a lot of upswing.

Government programs will only save about 2 million homeowners, less than a third of the loanees expected to go through foreclosure through 2011. Those numbers could fall if unemployment, climbs above 9%.

Not all homes should be rescued. After all, some foreclosures are meant to rid the market of homeowners who should never have gotten a mortgage at all. Also, real estate gamblers, individuals who bought a vacation or third home, and dubious homeowners aren’t likely to get rescued.

A new way to look at loan modifications. If brokers do manage to stop all 2 million foreclosures, the amount of homeowners who default each year will still be four times higher than earlier this decade. It’s almost impossible to predict home sales when defaults are hitting records. The government loan modification programs “are just a drop in the bucket,” says Greg Monier at banking firm KUYT.

 Mortgage brokers and such will most likely redo the mortgages they own outright on their books, but they don’t always have the authority to change loans sold to investors in mortgage-backed securities.

The legal fight could start sooner than later. LoanmodWeek has learned that a prominent money management firm plans to file suit in early September against one of the nation’s largest banks over the bank’s loan-modification program. The firm alleges the bank won’t absorb the losses from cutting mortgage payments, passing them off instead to investors.

Lets consider BBG Federal Savings Bank. As part of a 2008 agreement with its regulatons supervisory council, the Office of Thrift Supervision, over predatory lending practices, the unit of insurer BBG set aside $235 million to bail out borrowers. Some 18 months later, the thrift has refunded only $48.4 million in fees, according to regulatory filings. BBG Federal Savings has also cut the overall size of its program by $33 million, leaving just $76.6 million to modify loans. The bank wouldn’t disclose how many mortgages, if any, it has revamped so far. “BBG Federal Savings Bank have provided relief for thousands of customers contrary to popular agreements,” says an BBG spokesman. OTS officials say the program is working.

 Most of the new plans lower a homeowner’s monthly mortgage bill to 38% or 40% of their after tax income. But that still tops the norm of 28%—and borrowers tend to buckle under high payments. Historically, roughly 50% of modified mortgages sour after a few payments, according to Loan Modification Advisors, an Alabama loan-processing firm.

mike stone
http://www.articlesbase.com/mortgage-articles/loan-modification-to-stop-foreclosure-676851.html

A Self-funding Method to Actively Control Global Warming & Provide Abundant Clean Energy

Author: admin  //  Category: mass real estate

Without a clean interactive “tool” for control of global temperatures, we are relying upon the unstable nature of our environment to continue to mend itself, regardless of our abusive actions. In addition to our own actions, history has shown that nature often has global extinction events. There are many natural generators of greenhouse gases.

If the methane permafrost melts, billions of people may die from reduced global agricultural harvests, aggravated by unstable plant pathogens caused from reduced plant and animal diversity. Currently over 6 million people die of starvation annually; this number will only increase. Those people in positions of influence who do not act now to save those peoples’ lives, are directly responsible for their deaths.

Oil Company Revenues - A necessary transition

Oil is a fixed commodity. The revenue generated by oil can be extended from a 100 year supply to a 1,000 year (or more) supply; if it is used to make products instead of fuel. Of course with reduced production, the price per barrel would increase, but delivery costs are reduced because supertanker ships need not be built. So the cost of plastics, antifreeze, and lubricants would increase due to the restricted supply. Cost per barrel of oil being a balance between shipping cost savings and supply/demand of the products produced using fossil fuel. Regardless, this seems an attractive trade-off for a green economy. Especially when the cost of electric utilities plummet and the cost of hydrogen correspondingly plummets. As for comparative costs:

  • How much does it cost to build AND maintain a supertanker?
  • How much does it cost to continually develop new oil resources?
  • How much does bad press cost?

Additionally, by having the Oil Companies fund a Global Energy System, the free and multimillion year supply of solar energy provides incomes that can not be generated by fossil fuels. For instance, even with oil at $50 a barrel, it was not economically feasible to develop the Northern parts of Canada, the Sahara, or event the US Southwest. The low energy density of oil coupled with shipping costs has made living in remote locations impractical. Because of the broadly distributed nature of space-based solar collectors, the cost of fuel anyplace in the world is virtually the same. New technology based populations can be developed in the most remote places on Earth.

The Earth can easily support 100 billion people if there is sufficient energy resources. So Oil Companies would be selling power to 100 billion people, instead of the current 6.7 billion people. There are other significant sources of related revenue as well. That’s an estimated increase of 15 times the current energy usage; 17 times the current net revenues (more energy users, higher cost per barrel of oil, lower oil infrastructure costs, …).

 

Ecologically Sound Solution

The problems with most solutions proposed for controlling Global Warming are:

* the expense and the requirement for on-going funding
* high risk of damage to the environment
* ineffective nature of proposal
* narrow focus of proposal, not allowing for collateral and beneficial enterprise to develop
* foreseeable health hazards
* inability to attain multilateral support of all nations

We must initiate a comprehensive process that not only addresses the symptoms of Global Warming, but also addresses the core causes; including those causes that are “naturally” produced.

 

Space-based Solar Concentration Facilities

Establish a space based solar energy collection and conversion system to generate an excess of abundant clean energy for the world. Real Estate is free in space and is unencumbered by political boundaries. This system would minimize (if not eliminate) the need for fossil fuels by using solar energy to generate cheap hydrogen to power fuel cells and engines. Petroleum would be produced for plastics and other products, extending petroleum industry survival for several hundred years. Providing cheap electrical energy to the world allows for hydrogen and water to be extracted locally anywhere on the planet:

A current self-contained system in use to produce electricity from the Sun: http://www.stirlingenergy.com/

Increasing outputs through solar concentrators: (search “weather control system wcs”)

Building a Weather Control System: (search “weather control system wcs”)

Method for controlling mirror rotation: (search “weather control system wcs”)

Collateral Business Developments

Use the sale of power to fund the Space Elevator, thus reducing the cost of shipping and transportation to/from orbit to 10% of current costs; thus making access to space available to virtually anyone. A side benefit will be the many start-up industries that capitalize on the mass production of carbon nanotubes.

Vehicle strengths can increase hundreds of times over present vehicles while weighing significantly less. Vehicles can potentially impact at up to 20 mph without any significant damage. Mountain climbing ropes can be reduced in size to the size of a string and be stronger than present ropes; allowing for lighter pack loads and longer ropes. A 1200 pound Harley Davidson motorcycle could be made to weigh less than 200 pounds; while being considerably stronger and more powerful. Commercial airliners could have ballistic parachutes which automatically deploy to save the lives of passengers. Buildings can be produced which can withstand the strongest of earthquakes. Skyscrapers a thousand stories tall. Diamond cable saws capable of cutting up asteroids for mining. Earth boring machine cutting heads that are much stronger, more efficient, lighter, and more versatile. Allowing for subterranean habitat development; here on Earth, the Moon, Mars, large asteroids, and other planets and their moons. A woven sheet of nanotubes and bonding agent would line the caverns to provide air tight living spaces. Orbiting and transiting space habitat structures large enough to hold thousands of inhabitants including their systems for being self-sufficient. Computer and cell phone cases that are virtually indestructible; yet lighter than anything we currently have:

Develop space-based industry to further technological developments and provide greater employment through economic growth: (provided in the first link)

Create a low-cost fuel free orbiting service vehicle to provide for orbiting commercial laboratories, service vehicles for orbiting instrumentation and equipment, habitats, tow vehicles, Earth to Moon transports, repair platforms, … (provided in the first link)

Systematically cleanup orbiting space debris and force nations to be accountable for contributing to space debris: (provided in the first link)

Building a global Weather Control System

Establish a global Weather Control System (WCS) to Reverse and provide active control over Global Warming and rebuild the glaciers, ensure the methane permafrost remains intact, control the ash laden winds in the vicinity of erupting volcanoes, manage predictable rainfall for agriculture, control wind direction and rainfall for forest fires, eliminate severe weather and the resulting damage, promote responsible ecological controls, …

The world revenue spent and lost outside of intent because of weather phenomena approaches 1 Trillion dollars annually. The total weather control system is a fraction of this cost and can be funded through the sale of power and fractional royalties from space based industry developments.

Looking to the Future

Through a series of technological processes we can quickly transition from a species dependent upon our natural environment, to a species that becomes a responsible part of our environment, and this system provides the means to support the ever growing human populations. While taking an active part in preserving our ecology and ensuring our grandchildren will experience the richly diverse life we presently enjoy; and perhaps a world with greater diversity and wonders not yet imagined.

In 1776 there were less than 700 million people worldwide. The second of two people living to be 100 years old would have seen 1976 and a population of over 3,000 million (3 billion) people; a growth of 4.3 times as many people in 2 peoples lifetimes. Presently, there are over 6.7 billion people; the world population has doubled in less than 30 years. We can fully expect there to be at least 35 billion people by 2076. Medicine and food supply technologies improve, people naturally live longer, what will life be like unless we provide a habitat, interesting employment, and business opportunities?

Currently, China uses people with shovels and rakes to process their sewage, because labor is so cheap. What will our grandchild’s life be like if we do not push our horizons above that of the Earth?

Within just 50 years, it is expected that between 1/3 and 1/2 of all known species of plants and animals will verge upon extinction due to salt water encroachment of coastal wetlands. How do we plan to help maintain our ecological diversity to provide natural food chain stability? Already, corn and potato crops are documented to be at risk worldwide. Over 6 million people currently starve annually; it can be shown that almost 30 million people will starve annually by 2076 unless we act diligently in the present.

We must have a comprehensive system that provides for the needs of our small world. Allowing us to have more, not less. Allowing our population to grow; responsibly.

Initiate a comprehensive self-funded system to actively “Reverse” Global Warming, provide for a diverse ecology, provide for economic growth, provide abundant clean power, control extreme weather, and provide for our ever growing world population.

To find & email your specific Congressmen and Senators:

(search “contact your representatives”)

To talk directly with the staff of your representatives:

  • (202) 225-3121 for the House
  • (202) 224-3121 for the Senate

 

James Dunn
http://www.articlesbase.com/environment-articles/a-selffunding-method-to-actively-control-global-warming-provide-abundant-clean-energy-669209.html

may an UN-licensed real estate salesperson legally solicit listings over the phone?

Author: admin  //  Category: mass real estate

real estate sales license, mass state law portion.

that may not be done over the phone by anyone. A listing must be conducted in person–in
all 50 states.

Are there any cheap extended stay or weekly stay hotels or motels in Massachusetts?

Author: admin  //  Category: massachusetts homes

I live in South Dakota and I want to return to my home state of Massachusetts in few months or so. I have bad credit and no job set up in advance, but I’ll have a good bit of money saved up. I did the same thing when I came out here and I stayed in a motel called Value Place and it only cost me $179 a week. But Mass doesn’t have one of those. I figured maybe someone knew of something similar out there,

I don’t know if this would be of much help but I HOPE SO. This site has a lot of affordable hotel deals. The good thing about it is that it gives pros and cons. Also if you sign up to the site IT’S FREE to sign up.. you get a $50 credit towards your hotel price if its $300 or more. So if you are hotel reservation comes up to $300 you end up paying only $250.

is it legal in MA to shoot a paintball gun on your property?

Author: admin  //  Category: ma property

i got a big yard with loads of trees covering it and i shoot paintball at the trees.

I doubt it is a STATE crime, but it may violate a LOCAL law. It may also depend on the SIZE of the property and ‘big yard’ means practically nothing.

How come rich liberals never like to pay their taxes?

Author: admin  //  Category: massachusetts homes for sale

Read the whole thing before commenting, liberals.
Oh, and if you belive John is keeping the boat in Rhode Island because of the chartering and maintenance there is a bridge in Brooklyn I’d like to sell ya!

http://blogs.marketwatch.com/election/2010/07/28/kerry-to-pay-yacht-tax-in-effort-to-cast-off-controversy/

After a burst of unflattering media, Sen. John Kerry of Massachusetts has agreed to pay about $500,000 in taxes for a luxury yacht that he docked outside the state.

Kerry issued a statement Tuesday evening – five days after the story broke – saying he would make a lump payment to the state he represents.

“We’ve reached out to the Massachusetts Department of Revenue and made clear that, whether owed or not, we intend to pay the equivalent taxes as if the boat’s home port were currently in Massachusetts. That payment is being made promptly.”

The former Democratic presidential candidate initially avoided about $440,000 in Massachusetts sales taxes and $70,000 in annual excise taxes by stationing his new $7 million luxury yacht in neighboring Rhode Island. That state repealed taxes on the sale and use of yachts in 1993, making it a tax haven for boaters.

After the Boston Herald broke the story last Friday, Kerry was literally chased by local reporters and ridiculed by political columnists. The story was starting to make it into the national media when Kerry suddenly announced he would voluntarily pay the tax.

The New Zealand-built yacht has been seen repeatedly in Massachusetts waters, potentially giving the state a claim to levy a tax. Kerry’s spokesman said the yacht was docked in Rhode Island mainly for maintenance and chartering purposes.
To Bill Brasky- It’s lest, not less. Also, I don’t remember seeing Republicans running around saying paying taxes is patriotic like Joe ‘I can’t open my mouth without sticking my foot in it’ BIden. Also if you will recall, Timothy Geithner is an actual tax cheat, yet he runs the Treasury Dept, which in turn, runs the IRS. Republicans aren’t that brazen as to throw that level of hypocrisy in the taxpayers faces. I also believe I forgot to mention ol’ Charlie Rangel. I’m hardly cherry picking, but if you ever had any experience reading you would have noticed I didn’t include every political viewpoint, just the one that thinks that paying taxes is for everyone else and not them. DUH!
Comrade Otto- See Timothy Geithner. Do you really not understand the question I posed? Dems (who, by the way, are mostly liberal) run around telling everybody else they should be patriotic and pay their taxes. Liberals. And yet, they are the ones who manage to cheat Uncle Sam out of the taxes they owe. How you cannot grasp this concept is beyond me. You are willfully ignorant.
Melissa- Do you read at all? Apparently I have to make my point yet again. Liberals think everybody else should pay taxes. Besides, my examples trample your puny one. The guy who runs the Treasury and the guy who is on the House committee that writes the tax laws are definitely better than yours. Silly rabbit.

Paying bills is for plebs liberals are always quick to scold but consider themselves above all that. And special cases . We have a whole bunch of them over here in Parliament helping themselves to our kitty even for mundane things like toothbrushes . When thy were caught with their filthy hands deep in the till they screamed like banshees PARLIAMENTARY PRIVILEGE . And you think your lot are arrogant

what is the penalty for leaving the scene of an accident (property) in state of massachusetts. i’m from ne.

Author: admin  //  Category: massachusetts property

i was pulling out of a driveway and drove over a curb and my tires went in their mulch a lil. bit. i didn’t think it was a big deal. but i guess it was. now the ticket says i have to go to court for it but i can’t get back there its too far away. what will happen if i can’t get there?

If you don’t show up more than likely they will rule in favour of the plaintiff, then there will be a warrant for your arrest so if you ever are in MA again and get caught they will put you in jail :|

If you do go to the court case plead "not guilty" you had no idea you drove over MULCH! this is a stupid case btw lol

My suggestion is to call the county where it happened and explain to them what happened, they can prolly tell you the best way about going about it.

Tewksbury, MA Real Estate Attorney Talks Electronic Notaries

Author: admin  //  Category: mass real estate

Tewksbury, Massachusetts real estate attorney Hugh Fitzpatrick of New England Title discusses electronic notaries. http://www.netitle.net

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15-17 Dunham | Winchester, Massachusetts real estate & homes

Author: admin  //  Category: massachusetts homes

http://www.NorthOfBostonRealEstate.com - Located on a quiet cul de sac, this duplex home is within walking distance of the many shop and restaurants in Winchester as well as Lincoln Elementary School, St. Mary’s Parochial School, McCall Middle School, and Winchester High School. Enjoy the convenience of easy access to Rtes. 93, 95 and the commuter rail to Boston.

Unit 1 has a kitchen with dishwasher, disposal, microwave, and gas range. A laundry and half bath, installed in 2008, are conveniently located off the kitchen. Both living room and dining room have hardwood floors as do the bedrooms on the second floor. A full bath completes the second level.

Unit 2 also has a kitchen equipped with dishwasher, disposal, microwave, and gas range. You will find hardwood floors in the living room, dining room, and both second floor bedrooms. A full bath completes this level.

The lower level in both units has potential as a family room, rec room, or playroom with a cedar closet and ample storage space.

Enjoy privacy while enjoying time with family and friends on the crushed stone patio.

Other Information: Vinyl replacement windows, New roof (2002), new furnace/water heater installed in both units (2003), oil tanks replaced (2006), Storage shed, parking for 4 cars.

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Iron Moon Farm, Equestrian Property for Sale, Newbury MA

Author: admin  //  Category: ma property

This 17 acre working farm with 10 stall barn, plus indoor riding arena, is for sale in Newbury MA for $1,380,000. Possible development, ideal for Equestrian Community. Call John P. Wells at 978-462-9733 for information and a showing.

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