Comments for Americaneer http://www.americaneer.com Northeast Ohio, Opinions & Civil Engineering Wed, 17 Mar 2010 16:18:34 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Mortgage-Mortgage Default-Strategic Home Mortgage Default by James Mucci http://www.americaneer.com/homemortgagedefault/comment-page-1/#comment-1810 James Mucci Wed, 17 Mar 2010 16:18:34 +0000 http://www.americaneer.com/?p=2739#comment-1810 There is another option, for many borrowers who are thinking of walking away because they do not have the hardship required for the loan modification. The home affordable refinance program. This allows you to refinance to a much lower payment and up to 125% of your homes current value, in some cases. This way you are not "locked out" of the home buying market for many years, and you don't suffer the consequences of the reduced credit scores. Also the banks and lenders did not typically lend more than a home was worth, but the majority of homes that are underwater, got that way because of the lost equity from the housing bubble bursting. Add in the the huge inventory of homes for sale, and coming on the market, and you have a snowball effect. Add in job losses, more foreclosures, and the snowball keeps rolling. Now they say 26% of foreclosures are "strategic", that's a real shame, we will not recover if we don't try. Hopefully we can get back on track. James Mucci - <a href="http://michiganmortgageadvisor.com/michigan-refinancing-option-for-underwater-homeowners/" rel="nofollow">Michigan Refinancing</A> .-= James Mucci´s last blog ..<a href="http://michiganmortgageadvisor.com/michigan-refinancing-option-for-underwater-homeowners/" rel="nofollow">Michigan Refinancing Option for Underwater Homeowners</a> =-. There is another option, for many borrowers who are thinking of walking away because they do not have the hardship required for the loan modification. The home affordable refinance program.
This allows you to refinance to a much lower payment and up to 125% of your homes current value, in some cases. This way you are not “locked out” of the home buying market for many years, and you don’t suffer the consequences of the reduced credit scores.
Also the banks and lenders did not typically lend more than a home was worth, but the majority of homes that are underwater, got that way because of the lost equity from the housing bubble bursting. Add in the the huge inventory of homes for sale, and coming on the market, and you have a snowball effect. Add in job losses, more foreclosures, and the snowball keeps rolling. Now they say 26% of foreclosures are “strategic”, that’s a real shame, we will not recover if we don’t try.

Hopefully we can get back on track.

James Mucci – Michigan Refinancing
James Mucci´s last blog ..Michigan Refinancing Option for Underwater Homeowners My ComLuv Profile

]]> Comment on Pier 1 Imports Stock by Americaneer http://www.americaneer.com/pier-1-imports-stock/comment-page-1/#comment-1791 Americaneer Thu, 11 Mar 2010 19:30:09 +0000 http://www.americaneer.com/?p=1266#comment-1791 @TJ: From $0.10 to $7 :!: is not too shabby and PIR has more upside potential than downside, I think. @TJ: From $0.10 to $7 :!: is not too shabby and PIR has more upside potential than downside, I think.

]]> Comment on Solon Community Park by Americaneer http://www.americaneer.com/solon-community-center/comment-page-1/#comment-1790 Americaneer Thu, 11 Mar 2010 19:28:27 +0000 http://www.americaneer.com/?p=610#comment-1790 Solon Recreation Center has both an indoor and an outdoor pool. Solon Recreation Center has both an indoor and an outdoor pool.

]]> Comment on Mortgage-Mortgage Default-Strategic Home Mortgage Default by Americaneer http://www.americaneer.com/homemortgagedefault/comment-page-1/#comment-1787 Americaneer Sun, 07 Mar 2010 17:25:00 +0000 http://www.americaneer.com/?p=2739#comment-1787 @ Scott: According to <a href="http://en.wikipedia.org/wiki/Nonrecourse_debt" rel="nofollow">Wikipedia</a>, <blockquote>Nonrecourse debt or a nonrecourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the collateral, but the lender's recovery is limited to the collateral. If the property is insufficient to cover the outstanding loan balance (for example, if real estate prices have dropped), the difference between the value of the collateral and the loan value becomes a loss for the lender. Thus, non-recourse debt is typically limited to 50% or 60% loan-to-value ratios, so that the property itself provides "overcollateralization" of the loan. <strong>Non-recourse debt is typically used to finance commercial real estate and similar projects with high capital expenditures, long loan periods, and uncertain revenue streams.</strong> It is also commonly used for stock loans and other securities-collateralized lending structures. Because most commercial real estate is owned in a partnership structure (or similar tax pass-through), non-recourse borrowing gives the real estate owner the tax benefits of a tax-pass-through partnership structure (that is, loss pass-through and no double taxation), and simultaneously limits personal liability to the value of the investment.</blockquote> @ Scott: According to Wikipedia,

Nonrecourse debt or a nonrecourse loan is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender/issuer can seize the collateral, but the lender’s recovery is limited to the collateral. If the property is insufficient to cover the outstanding loan balance (for example, if real estate prices have dropped), the difference between the value of the collateral and the loan value becomes a loss for the lender. Thus, non-recourse debt is typically limited to 50% or 60% loan-to-value ratios, so that the property itself provides “overcollateralization” of the loan. Non-recourse debt is typically used to finance commercial real estate and similar projects with high capital expenditures, long loan periods, and uncertain revenue streams.

It is also commonly used for stock loans and other securities-collateralized lending structures. Because most commercial real estate is owned in a partnership structure (or similar tax pass-through), non-recourse borrowing gives the real estate owner the tax benefits of a tax-pass-through partnership structure (that is, loss pass-through and no double taxation), and simultaneously limits personal liability to the value of the investment.

]]> Comment on Oil and Natural Gas Wells-Ohio Residential Property Disclosure Form by Americaneer http://www.americaneer.com/oilandnaturalgaswellsohio/comment-page-1/#comment-1786 Americaneer Tue, 02 Mar 2010 02:09:15 +0000 http://www.americaneer.com/?p=2731#comment-1786 100 feet 100 feet

]]> Comment on Solon Community Park by Nunya http://www.americaneer.com/solon-community-center/comment-page-1/#comment-1784 Nunya Tue, 02 Mar 2010 01:40:17 +0000 http://www.americaneer.com/?p=610#comment-1784 Is there a swimming pool in the park. Is there a swimming pool in the park.

]]> Comment on Pier 1 Imports Stock by TJ http://www.americaneer.com/pier-1-imports-stock/comment-page-1/#comment-1783 TJ Tue, 02 Mar 2010 01:38:36 +0000 http://www.americaneer.com/?p=1266#comment-1783 This stock is on fire! This stock is on fire!

]]> Comment on Oil and Natural Gas Wells-Ohio Residential Property Disclosure Form by Georgina http://www.americaneer.com/oilandnaturalgaswellsohio/comment-page-1/#comment-1782 Georgina Tue, 02 Mar 2010 01:34:51 +0000 http://www.americaneer.com/?p=2731#comment-1782 How close to homes is the drilling for oil and natural gas allowed in OH/ How close to homes is the drilling for oil and natural gas allowed in OH/

]]> Comment on Mortgage-Mortgage Default-Strategic Home Mortgage Default by Scott http://www.americaneer.com/homemortgagedefault/comment-page-1/#comment-1781 Scott Tue, 02 Mar 2010 01:32:03 +0000 http://www.americaneer.com/?p=2739#comment-1781 Are commercial mortgage recourse or non recourse? Are commercial mortgage recourse or non recourse?

]]> Comment on Unhappy with Kathleen Falk and Wisconsin DOT by Jesus is the reason for the season « Americaneer http://www.americaneer.com/kathleenfalk-wisconsindepartmentoftransportation/comment-page-1/#comment-1569 Jesus is the reason for the season « Americaneer Sun, 24 Jan 2010 01:10:36 +0000 http://www.americaneer.com/?p=356#comment-1569 [...] Related Post: Unhappy with Kathleen Falk and Wisconsin Department of Transportation [...] [...] Related Post: Unhappy with Kathleen Falk and Wisconsin Department of Transportation [...]

]]> Comment on Top Cleveland Suburbs by Americaneer http://www.americaneer.com/rating-of-best-cleveland-suburbs/comment-page-1/#comment-1204 Americaneer Mon, 17 Aug 2009 03:03:59 +0000 http://www.americaneer.com/?page_id=413#comment-1204 Wally: Aurora has lots of green space, Sunny Lake Park, Aurora Farms Premium Outlets and Walden. Wally: Aurora has lots of green space, Sunny Lake Park, Aurora Farms Premium Outlets and Walden.

]]> Comment on Top Cleveland Suburbs by Wally http://www.americaneer.com/rating-of-best-cleveland-suburbs/comment-page-1/#comment-1203 Wally Thu, 13 Aug 2009 05:15:46 +0000 http://www.americaneer.com/?page_id=413#comment-1203 Any comments about Aurora? Any comments about Aurora?

]]>