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David Kres wrote:

U.S. Cities with the Highest Income Growth Rates
RISMedia had an article that listed the 8 cities with the highest income growth:1. El Paso, Texas2. Baton Rouge, La.3. Baltimore, Md.4. Virginia Beach-Norfolk , Va.5. New Orleans, La.6. Pittsburgh, Pa.7. Oklahoma City, Okla.8. Little Rock, Ark.Jackson, Miss. Honolulu, Hawaii
October 14 2010
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Tenants' Renters Insurance Is a Must
RISMedia recently published an article about why tenant's rental insurance is a must.  Here is the article: http://rismedia.com/lowes/8355/10528
October 14 2010
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As More Homeowners Walk Away, Experts Fear for Nation's Morals
RISMedia recently posted an article with the title: As More Homeowners Walk Away, Experts Fear for Nation's MoralsAmericans have taken a sharp slap in the face from the housing crisis, financial crisis and jobs crisis. Now, some wonder if the residue of those harsh realities is an ethical crisis.For the first time in the nation's history, bankers say, people are walking away from mortgages they can otherwise afford to pay. The phenomenon known as strategic default was once unthinkable. It represents a calculated decision to hand over the keys to a home without making good on a loan, reasoning that it makes no sense to keep paying the monthly mortgage when the home is worth thousands of dollars less than the obligation...Read the rest of the RISMedia article.
October 14 2010
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Steel Buildings Become More Popular for Residential Homes
According to RISMedia, steel buildings are becoming more common in residential buildings as their versatility expands with greater consumer demand. They are sought after for their affordability, strength, durability and versatility in the building process.Once used primarily for warehouses, garages, sheds and additional storage facilities, today even residential homes are being built with steel buildings. SteelBuildings.org offers further insight into the latest trend.Once used for large industrial purposes, many smaller scale structures are using metal construction, such as churches, schools, retail stores and private residential homes. In the past, the affordability and durability of such buildings were over shined by the lack of curb appeal. Now the exterior of steel buildings can be finished in brick, siding, stucco and additional options. They are easy to maintain, well insulated and can be constructed much faster than using more traditional materials.They also cost much less than stick built homes of the same size and quality.The versatility of the way these metal structures are framed is another attractive quality. They can be fully framed to look just like conventional home or they can have a completely open floor plan with minimal interior walls. The pole construction methods used during the construction process make the walls non-load bearing, so the poles support the weight of the walls. By having non-load bearing walls, a home can have dramatic, wide-open spaces for a living room or kitchen and yet have smaller rooms forbedrooms and bathrooms.This option has lower framing costs as well.
October 14 2010
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Green Buildings May Make Employees Feel Better
According to a RISMedia article, green buildings may make employees feel better. Here is the article.
October 14 2010
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HUD Has Loans for Out-of-Work Borrowers
The National Association of Realtors® reports that The U.S. Department of Housing and Urban Development (HUD) announced recently that it will offer $50,000 loans to unemployed borrowers who are at least 3 months behind in their payments, but who have a reasonable likelihood of being able to resume regular payments within 2 years.The property must be the borrower's principal residence and they cannot own a second home. Also, they must have suffered at least a 15% decline in income.The loan is available in 32 states not receiving assistance through the Hardest Hit Fund, which gave 18 states more than $4 billion to devise programs to help the unemployed and underwater borrowers.Source: CNNMoney.com, Tami Luhby (01/05/2010)
October 13 2010
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Fed Chair: Government May Buy More Debt
According to the /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-style-parent:""; font-size:10.0pt; font-family:"Times New Roman";}National Association of Realtors®, Federal Reserve Chair Ben Bernanke hinted recently that the Fed is likely to buy more government debt, a move that could further drive down rates on mortgages, corporate financing, and other loans."I do think the additional purchases, although we don't have the precise numbers for how big the effects are, I do think they have the ability to ease financial conditions," Bernanke said at a meeting with college students after his presentation at the Rhode Island Public Expenditure Council.Bernanke also defended the TARP program, saying that the downturn would have been much worse without it.
October 13 2010
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Congress Extends Loan Limits
According to the /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-style-parent:""; font-size:10.0pt; font-family:"Times New Roman";}National Association of Realtors®, before leaving town Congress passed legislation extending the loan limits for Freddie Mac and Fannie Mae (the GSEs) and FHA.Under the bill, which has been signed by the President, the current loan limits will remain in place through September 30, 2011.
October 13 2010
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Federal Reserve Board Issues Final Rule to Limit Loan Originator Compensation
On September 24, 2010, the Federal Reserve Board (the Fed) published a final rule in the Federal Register to protect mortgage borrowers from unfair, abusive, or deceptive lending practices that can arise from loan originator compensation practices.The rule prohibits mortgage brokers and loan officers (loan originators) from being paid more if the borrower accepts an interest rate higher than the lender requires (commonly referred to as a "yield spread premium"). Loan originators may continue to receive compensation based on a percentage of the loan amount.Loan originators that receive compensation directly from a consumer may not also receive compensation from another party. The rule also prohibits loan originators from steering a consumer to accept a loan that is not in the consumer's interest to increase the originator's compensation. The final rule takes effect April 1, 2011.Here's the Federal Reserve press release: http://www.federalreserve.gov/newsevents/press/bcreg/20100816d.htmHere's the federal rule: http://edocket.access.gpo.gov/2010/pdf/2010-22161.pdf
October 13 2010
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Federal Reserve Board Requires Notice to Homeowners When Mortgages Are Sold
The /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-style-parent:""; font-size:10.0pt; font-family:"Times New Roman";}National Association of Realtors® reported that on September 24, 2010, the Federal Reserve Board (the Fed) published a final rule in the Federal Register to confirm a change to the Truth in Lending Act (TILA) that requires that consumers be notified within 30 days after the date their mortgage loans are sold or transferred.There are several exceptions. This notice requirement has been in effect since May 20, 2009, and this final rule and an earlier interim rule provide additional clarity. The Real Estate Settlement Procedures Act (RESPA) has a parallel requirement for notice to a consumer when the servicer of the mortgage has changed.
October 13 2010
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