Many give Boston Red Sox fans plenty of grief, some of it warranted, some of it not. Red Sox Nation has become, for better or worse, a whipping boy. But the following video of the crowd at Fenway Park helping an autistic man sing the National Anthem, is simply an incredible display. As he begins to trip-up during the middle of the song, the crowd encourages him, then sings along.
The moment took place during Disability Awareness Day at Fenway. The video below speaks for itself:
Will the move to dismantle Fannie Mae and Freddie Mac mean the end of the 30-year fixed-rate mortgage as we have come to know it?
Many housing proponents say that it will. Without the government’s backing, they contend that the 30-year mortgage will become a relic of a bygone era when mortgages were cheap and easy to come by.
But others say America’s most popular home loan will still be available — if you can afford it.
Republicans in the House of Representatives unveiled seven more bills Friday to reform the government-sponsored enterprises for a total of 15 since March.
Rep. Scott Garrett (R-N.J.) is chairman of the GSE subcommittee and leads the GOP effort to wind downFannie Mae and Freddie Mac. He said Friday the second round of new bills continues the work of ending bailouts for these companies and ushering private capital into the mortgage market.
“We can no longer afford to sit back and allow the ongoing bailout of these failed institutions to continue,” Garrett said. “While special interest groups and the guardians of the status quo may not want to admit it, Fannie and Freddie’s days are numbered. It’s not a matter of if, but when – the quicker we begin the process of dismantling them the better off we’ll be.”
Two other House lawmakers introduced a bipartisan GSE reform bill this week that would wind-down Fannie and Freddie over five years and provide a government backstop for securities issued by five replacement companies funded by private dollars.
There were quite a few rumblings yesterday about how April sales were down 9.2% in Southern California, with this justification – from the latimes.com:
“Sales have been far below average for quite a while and there’s little doubt there’s pent-up demand out there. But too many people still aren’t in the mood or in a position to buy,” DataQuick President John Walsh said. “They might be concerned about prices falling more, or can’t qualify for a loan.”
The ivory-tower types keep offering general ideas for the malaise, but around here the demand is strong – there’s just not enough sellers willing to get their price right.
April’s detached sales in North San Diego County Coastal:
Year
Sales
Avg. $/sf
SP:LP
DOM
2010
230
$375/sf
96%
68
2011
232
$373/sf
95%
76
Buyers are worried about more foreclosures and falling prices, but it’s not stopping them from buying if they can just find the right house, at the right price.
This REO has been on the market for almost two weeks – the urgency of a fresh new listing is gone. Today we’re seeing if the repairs that were just completed might help to re-ignite interest:
Remember way back in 2006, when everyone was in a frenzy to buy a house, any house, with whatever mortgage they could grab? In many cases, it meant signing up for adjustable-rate mortgages that would reset in half a decade.
Move forward those five years and here we are.
For the next 13 months, some $20 billion in adjustable-rate loans are scheduled to reset every month, according to figures from Credit Suisse.
That means the interest rates and monthly payments will adjust — in most cases, downward, because of interest rate declines.
Homeowners will have to decide whether to keep their loans or replace them with a refinance. In a few cases, the adjustment of interest-only loans will make the monthly payments go up, even if their interest rates go down.
Those who own property in the Encinitas Ranch might want to take a closer look at your Mello Roos Taxes. They are going to increase.
Encinitas City Council voted 3-1 April 27 to allow the Encinitas Ranch Golf Authority, or ERGA, to pay themselves a “contingency fund” of $100,000 a year for the next five years or more, before paying the full amount of the CFD bonds.
This means the golf course and Carltas Development Corporation will be passing more of ERGA’s portion of the CFD bond debt of $400,000 per year on to you.
