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Late
mortgage payments vs. bonus for insurance CEO
Is it any wonder that 1,168 Broward County
homeowners have endured submitting late mortgage payments? The South Florida Sun-Sentinel
reported a 331 percent increase over the 271 residents who paid late last year.
In addition, the Local section reported homeowners expressing concern
to Gov. Charlie Crist regarding a 100 percent increase in property insurance and
requesting relief in property taxation. Is it possible this increase in insurance
premiums helped pay CEO of Allstate Corp. Edward Liddy's bonus of $3.73 million
this year? This bonus is reported as a seven-fold increase over last year. Could
this seven-fold increase be related to the 100 percent increase in premiums paid
by Broward County property owners?
This bonus was awarded from money
the company saved because of "good weather." What influence, dare I ask, does
Mr.
Tax
Refund Check Helps with 2007 Mortgage Decisions RISMEDIA,
April 5, 2007- According to financial trends, many Americans will apply their
income tax check towards housing and mortgage-related expenses. The 2007 tax season
is in progress, and the IRS reports that as of March 16th–one month before
the official 2007 tax deadline– 67,703,000 people had filed returns; 55,186,000
of them had already received their refunds. As Americans decide where their refund
will go, LoanPage.com offers a variety of mortgage loan resources that can help
homeowners make smart financial decisions this tax season (http://www.loanpage.com/).
Refinancing a mortgage,
paying off debt to increase a credit rating and making an extra mortgage payment
are among the most popular ways to spend an income tax refund. Homeowners interested
in using their refund for mortgage refinancing closing costs can find detailed
information, articles and search tools regarding mortgage refinancing on LoanPage.com.
Western
Lumber Markets To Remain Slow It
will take a while longer for the U.S. lumber market to get on the road to recovery,
according to a new forecast issued by the Western Wood Products Association. Following
four straight years of record consumption, demand for lumber declined 6% in 2006
and is forecast to fall another 7.5% to 55.97 billion bd. ft. this year. Looking
to 2008, WWPA predicts overall demand will slip 1.8% before rebounding the following
year. A slower American economy, marked by declines in mortgage banking, real
estate and construction, continues to impact lumber markets. These developments
have reduced home construction, with housing starts falling almost 13% in 2006.
WWPA is forecasting another decline in housing for this year, with starts expected
to decrease 16% to 1.5 million before rising modestly to 1.56 million in 2008.
Late
mortgage payments increase in South Florida A
deluge of South Floridians are falling behind on their monthly house payments,
raising fears that many of the delinquent property owners will lose their homes
to foreclosure this year and next.
"Who knows how bad it's going to
get," said Richard French, a manager with SunTrust Mortgage and president of the
Broward County chapter of the Mortgage Bankers Association. "It's a little scary
to think about."
Escalating home values from 2000 to 2005 caused buyers
to overextend themselves. Many took out short-term, adjustable-rate mortgages
and are seeing their loan payments spike as interest rates rise.
Higher
property taxes and insurance premiums also are putting homeowners in peril.
Broward had 1,168 property owners with late payments in March, a 331 percent
increase over the 271 a year ago, according to Realestat.com, a Plantation-based
firm that compiles local housing statistics.
Shakopee
man falls from overpass SHAKOPEE
-- Police are characterizing the death of a 34-year-old Shakopee man, who fell
off a Marschall Road overpass early Sunday morning, as a "horrible accident."
James Johnson, a local
mortgage consultant, was walking home from downtown Shakopee after an evening
out with family and friends, when he fell onto the southbound lane of Highway
169 and died. Authorities think Johnson might have sat down on the overpass,
maybe to tie his shoes or take a rest, when he fell, said his wife, Gina Johnson.
"It was just a freak, horrible accident," she said. Johnson and
a longtime friend had gone out to Arnie's Bar after bowling with their kids and
wives and other friends. The two planned to share a cab home, but at some point,
they became separated.
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