Consumers gain from financial reform
After a near collapse of major banks, consumers are getting greater protection under sweeping reforms.
http://www.bankrate.com/finance/savings/consumers-gain-from-financial-reform-1.aspx
Consumer protection
The biggest news for consumers is the establishment of a new Consumer Financial Protection Bureau within the Federal Reserve to police consumer financial products such as mortgages and credit cards. The new bureau will enforce existing laws and set specific rules on certain financial products, including what interest rates payday lenders can charge and how credit card disclosures must be made.
This is good news for consumers, because it will create an agency that can keep up with the constantly evolving practices of financial firms better than legislators can, says Kathleen Day, a spokeswoman for the Center for Responsible Lending in Durham, N.C.
"This is a living, breathing agency," says Day. "It can see (abuses) as they crop up but before they become pervasive, and stamp them out without having to constantly go back and reinvent the wheel in Congress."
Numerous industries sought exemptions from consumer protection bureau oversight, with auto dealers being the biggest winners. They will continue to be regulated by the Federal Trade Commission.
In another compromise, a fiduciary standard for stock and insurance brokers in the Senate version of the bill was taken out. Instead, the SEC will study the issue and make further recommendations in six months.
By Claes Bell • Bankrate.com
Homes lost to foreclosure on track for 1M in 2010
http://www.comcast.net/articles/finance/20100715/US.Foreclosure.Rates/
More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service.
Failure is not fatal but, Failure to change might be.
Success is never final; failure is never fatal. It's courage that counts.
Winning takes talent; to repeat takes character.
by the great Coach John Wooden
Maryland Mortgage Program...Get Assistance: House Keys 4 Employees - THIS IS A NEAT PROGRAM. PLEASE READ
http://www.mmprogram.org/Info4Borrower.aspx#1
Q. What is the House Keys 4 Employees Program?
A. House Keys 4 Employees enables eligible homebuyers who are using a Maryland Mortgage Program loan to purchase their home to receive more downpayment and/or closing cost assistance than is available through the standard downpayment and closing cost assistance programs.
I am a licensed realtor in Maryland and Virginia. Prior to becoming a realtor, I worked as a graphic designer in the private sector, as well as, contracted for the Government.
One of my goals is to help buyers and sellers with their real estate projects.
I am a Certified Distressed Property Expert and have completed the rigorous course necessary to uphold the title. That's why I take great pleasure in helping homeowners with their distressed properties. No one should lose their home to foreclosure or bankruptcy. I work day and night to ensure that homeowners are less stressed as I take on the negotiation between a homeowner and their lender(s).
I have helped many buyers reach their goals of home ownership. Dream the american dream. Home Ownership!
I enjoy when my client tell me that their transaction either buying or selling was very pleasant and that they will recommend me to all their friends and family. I am receiving lots of those referrals now.
I worked with buyers and sellers in the states of Maryland and Virginia. I also work with relocation and rentals. No job too big or small for me to handle.
I have been asked what area I specialize in. Well, in this business, I go where my client need me to go. The way I see it, I am licensed in Maryland and Virginia so, why should I limit myself to a specific area. If I am not familiar with a particular area, I will let my client know and they may the decision. It's that simple!
Your privacy is important to us! However, we are required to collect your name and email to give you access to view the MLS. We will not share this information with outside parties and we guarantee that we never send unsolicited email.
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Chances are, you or someone you know in Maryland or Virginia is facing the possibility of foreclosure. But you need to understand that you are not alone.
Today, nearly 1 out of every 6 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.
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