| Fed Rate Cut And 100 Pecent Financing (Still Going To Be Tight)
I want to address an issue I mentioned yesterday which generated a lot of reader mail. I wrote: “You can't do a stated income loan anymore, and you can't do 100 percent financing." I was actually quoting a mortgage expert I had spoken with earlier who was trying to make the point that despite the Fed rate cut, lending standards today are far tighter than they were just six months ago. Many of you wrote in, some of you very upset, saying that you can get 100 percent financing and you can get stated income loans. I asked Jay Brinkmann, VP of economics at the Mortgage Bankers Association to clarify: From everything that we've heard that's out there is that people have pulled way back on stated income if it's combined with any kind of LTV (loan to value). If it's going to be high LTV it's got to be fully documented, whereas the stated income tends to be where it's a very large down payment, wealthy individuals, maybe a streamline refinance, there's still some of that going on.
Treasury secretary pushes Senate to act on economic package
The president and leaders in the House of Representatives have agreed on a proposal to provide tax rebate checks to 117 million families and give businesses $50 billion (€34 billion) in incentives to invest in new plants and equipment. The goal is to help head off a recession and boost consumer confidence. "I don't think the Senate is going to want to derail that deal," Treasury Secretary Henry Paulson said Sunday. "And I don't think the American people are going to have much patience for anything that would slow down the process." But many senators say they are entitled to their ideas and that they never agreed to be deferential to the House and the White House on the final terms. Senate Majority Leader Harry Reid agreed that the negotiations should move through the House first, but he and other senators still want to have input.
Greeks mourn popular Orthodox archbishop
The charismatic cleric was often named Greece's most popular public figure but was also criticized as a reactionary. He died of cancer Monday at his home in Athens, leaving the race for his succession wide open. Christodoulos, 69, was credited with reinvigorating a church seen as distant from its followers in a country where more than 90 percent of the native-born population is baptized into it. Greece's Orthodox Church holds considerable sway among the world's Orthodox churches. Istanbul-based Ecumenical Patriarch Bartholomew I is the spiritual leader of the world's 250 million Orthodox Christians. Despite vigorous protests from Orthodox zealots who marched through Athens denouncing the pope as the anti-Christ, Christodoulos in 2001 hosted the late John Paul II — the first pope to visit Greece in centuries.
New Radio Show Declares War on Apathy with Biting Wit and Youthful ...
Additionally, every live show provides a chat room where listeners can add their opinions, ask questions or challenge the discussion to move a different direction.Celebrities and other public figures have embraced Politickin Radio's model of the "no holds barred" interview. Special guests from all walks of life are invited on the show to talk about life, philosophy, and culture from the younger generation's perspective.In the era of online media, the creators of Politickin Radio have chosen to capitalize on the fact that fewer Americans are listening to traditional radio. Furthermore, airing a radio show online provides the opportunity to reach an even wider and more global audience.As hosts, Andre and Ambra consistently ask their listener base the question, "What is your warcry?" In a generation where so many young adults are portrayed as apathetic and lazy, Politickin Radio challenges the status quo and awakens listeners to the reality that the younger generation has something worthwhile to say.Politickin Radio airs weekly on Thursdays at 7:30 am PST/10:30 am EST on the BlogTalkRadio network.
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