We have prepared for you an "accountancy based balance sheet" regarding Cyprus future in terms of real estate development. This is a road map of "things to be done", in order to offer some sort of hope, but at the same time, not to dream that everything is OK. Cyprus being such a small economy, little things, make the economy turn around (our reservations on the handouts of money to all sorts of people by this Government has been criticised in a previous article of ours).
U.S. News & World Report - The Federal Housing Administration (FHA) is developing a new reverse mortgage product that sharply cuts up-front payments by home owners but also significantly reduces the percentage of a home's equity that can be paid to owners under the program. Reverse mortgages insured by the government are available on homes where the youngest owner is at least 62 years old. The program is called a Home Equity Conversion Mortgage (HECM).
Time.com - Buying a house is supposed to make us better citizens, better investors and better off. But that American Dream may well be a fantasy
Time.com - Buying a house is supposed to make us better citizens, better investors and better off. But that American Dream may well be a fantasy
AP - SLIGHT DECLINE: Real estate data provider CoreLogic says the number of U.S. homes with mortgages that exceed what the properties are worth fell slightly between the second quarter and the first three months of this year. It's the second consecutive quarterly decline.
AP - One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.
AP - Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening.
Reuters - Fannie Mae and Freddie Mac should be abolished rather than reformed as part of the Obama administration's planned overhaul of the government's role in housing finance, Rep. Barney Frank, chairman of the House Financial Services committee, said on Tuesday.
AP - GOVERNMENT ROLE: Banking executives overwhelmingly told the Obama administration Tuesday that the government should maintain a large role in the $11 trillion mortgage market.
AP - GOVERNMENT ROLE: Banking executives overwhelmingly told the Obama administration Tuesday that the government should maintain a large role in the $11 trillion mortgage market.
Friday, August 27, 2010
0 Comments