Month: May 2009

Another great West End weekend…

Willie Watkins “Choir in the Park”

Well, the festival promised to be a  great event and it truly was!  Food, Fun, Friends & Family- a wonderful way to spend a day off.  As per my daughter “I had excellent fun..”  lol

Networking Event

Event: Networking Meeting at Space Atlanta
      “Network in West End”
What: Business Meeting
Host: West End Merchant Coalition
Start Time: Friday, May 29 at 6:00pm
End Time: Friday, May 29 at 8:00pm
Where: Space Atlanta

1310 White Street
Atlanta, GA 30310
(404) 758-9494

“Finally, West End Atlanta has a Restaurant for neighbors to frequent a few nights a week!
SPACE ATL shows promise to be the next ‘big thing’ in the Historic West End, Westview communities since the Beltline trail.
Good music, good food, good drinks, good service- the stage is set and the show has begun, don’t miss it!

~Nia” 

Bill Offers Renewed HOPE for Troubled Owners

The Obama Administration on Wednesday signed a bill that attempts to inject some hope into the housing rescue program–called Hope for Homeowners.
 
The original program asked banks to reduce mortgage balances voluntarily to 90 percent of a home’s current market value. The loan would then be refinanced into an FHA mortgage.

The program didn’t work because it forced lenders to sell short with no chance of an upside, says Tom Kelly, a spokesman for JP Morgan Chase.

The new version of Hope sweetens the pot by paying lenders $1,000 for every Hope-refinanced loan and easing the amount they have to write off by allowing loans of up to 93 percent of the market value.

But the most important change is that it allows the U.S. Department of Housing and Urban Development, FHA’s parent agency, to share home-price appreciation with investors, up to the appraised value of the property when the existing loan was first issued.

This bill originally included cramdown legislation that would have allowed bankruptcy judges to modify the first mortgage, but that portion of the legislation was defeated in the Senate.

Source: CNNMoney, Les Christie (05/20/2009)