| Home loans the new stocking filler
Christmas stockings are usually hung in houses, but the reverse it seems is becoming increasingly popular. The chief executive of mortgage broker X Inc Finance, Jennifer Nielsen, said parents were increasingly using major gift-giving occasions such as Christmas or birthdays to help their children break into the tight Australian housing market. "Unfortunately the cost of real estate is now beyond the reach of many young Australians," Nielsen said. She said that rather than putting a more traditional gift under the Christmas tree, some people ere giving loved ones home loan-related presents such as direct equity, cash pledges or co-signing a loan as guarantor. "Parents are recognising that rather than splashing out on the more traditional material items, the best gift they can give their children is the opportunity to get a foothold in the property market." Nielsen said home loan gift giving was becoming more common and was likely to increase in popularity as more young people were forced to the sidelines of the property market by rising house prices.
Reverse mortgage workshop informs public about the pros and cons
Local residents gathered at the Kernville Chamber of Commerce Jan. 16 to learn more about reverse mortgages. The Prince Financial Corporation representative, Barbara Prince, Bankers First representative Rylan Rozell and Patty Nash of McKenzie and Nielsen provided those in attendance with large packets of information on the ins and outs of reverse mortgages including the negative aspects of entering into a reverse mortgage. The purpose of the presentation was to educate as well as provide financial opportunities for seniors. According to the Reverse Mortgage Page website over 50,000 Americans applied for reverse mortgages in 2006. A reverse mortgage is a way to borrow against the equity in your home rather than a forward mortgage where you are attempting to purchase a home and build home equity by making mortgage payments.
Business briefs
Items for Business Briefs and People In Business may be submitted to Michelle Allen, Business Briefs, Telegraph Herald, P.O. Box 688, Dubuque, Iowa 52004-0688, or e-mail THbizbriefs@wcinet.com. To have a photograph returned, enclose a self-addressed, stamped envelope. For more information, call 563/588-5637. Deadline is noon on Tuesdays. .
Bear Stearns boss to repel boarders
BEIJING, Jan. 10 -- Bear Stearns Cos Inc's management shake-up could make the investment bank a takeover target, but the possibility of more writedowns and chance of legal entanglements from the subprime mortgage crisis could sideline suitors for now, analysts said. Bear Stearns' president Alan Schwartz on Tuesday became the company's new chief executive, replacing James Cayne, who was under fire for the company's big mortgage losses and the collapse of two hedge funds. The appointment of Schwartz, a 57-year-old investment banker, could signal Bear Stearns' willingness to entertain offers, even as its shares hover near four-year lows, some analysts said. But Schwartz said he plans to return the company to strong profitability and he's not waiting around for a takeover bid to materialize.
In Aliquippa and other Rust Belt cities, drugs moved in as steel moved ...
Mike about those famous athletes that came out of Aliquippa... get your facts straight... most of them do still give back to Aliquippa... as I recall Ty Law helped pay for the football teams uniforms so those kids had gear to play with... Give back to Aliquippa?!?! Aliquippa has been crying the poverty town for years and they get plenty of grants and mind you they have a higher wage tax than any surrounding area because they are so "distressed" where is the money going to that is supposed to be being used to help that distressed town??? Ask your beloved politicians that... As for weed and seed... yeah it did a great job thats why you still have crack dealers and crack heads and prostitutes doing their business right outside the Aliquippa police station... Whats wrong with that picture??? " .
|
