The West End is filled with talent…

unfortunately most are unknown by many that live in the West End, until a tragedy occurs.  Thankfully, Billy Fields is expected to recover after this incident and those of us not ‘in-the-know’ have time to find out Who Is  Billy Fields ?, and appreciate his work, as well as help a fellow West Ender in his time of need.

“On Sun., Oct. 3 at around 1 a.m. Fields was robbed at gunpoint in the West End where he was doing sound at a dubstep warehouse party. During the robbery he was shot at nearly point blank range. The bullet passed through his bottom jaw on the right side and exited through his opposite cheek. The bullet took some teeth with it, and caused damage to his tongue, but he is expected to make a full recovery

Needless to say the bills are mounting. Donations to help cover medical costs can me made via Paypal

In the meantime, on Fri., Oct. 8 and Sat., Oct. 9 between 11 a.m. and 2 p.m. Fields’ friends are preparing his house (1605 Beecher St. ATL 30310) for his release from the hospital. If you’re interested in helping get his house in order send an e-mail to 33bigfoot@gmail.com for directions”

Posted by Chad Radford on Thu, Oct 7, 2010 at 3:16 PM on Creative Loafing

Countrywide Offers Help to Former Customers

Bank of America, which acquired Countrywide Financial Corp., one of the most active of the subprime lenders, has begun issuing checks to its borrowers who are eligible for foreclosure assistance under an agreement with attorneys general in 40 states.

Borrowers most likely to be eligible for assistance must have experienced a foreclosure, short sale, or deed-in-lieu of foreclosure after taking out a Countrywide mortgage.

Rust Consulting, a third-party administrator, is managing the program, and notifying and paying eligible customers.

Source: Reuters News, Steve Eder 

What You Can Do to Improve Your Credit

Credit scores, along with your overall income and debt, are big factors in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:

1. Check for and correct any errors in your credit report. Mistakes happen, and you could be paying for someone else’s poor financial management.

2. Pay down credit card bills. If possible, pay off the entire balance every month. Transferring credit card debt from one card to another could lower your score.

3. Don’t charge your credit cards to the maximum limit.

4. Wait 12 months after credit difficulties to apply for a mortgage. You’re penalized less for problems after a year.

5. Don’t order items for your new home on credit — such as appliances and furniture — until after the loan is approved. The amounts will add to your debt.

6. Don’t open new credit card accounts before applying for a mortgage. Too much available credit can lower your score.

7. Shop for mortgage rates all at once. Too many credit applications can lower your score, but multiple inquiries from the same type of lender are counted as one inquiry if submitted over a short period of time.

8. Avoid finance companies. Even if you pay the loan on time, the interest is high and it will probably be considered a sign of poor credit management.

This information is copyrighted by the Fannie Mae Foundation and is used with permission of the Fannie Mae Foundation. To obtain a complete copy of the publication, Knowing and Understanding Your Credit, visit www.homebuyingguide.org.

HOPE for Homeowners Expands Rescues

HOPE for Homeowners, a federal program to allow the replacement of up to $300 billion in underwater U.S. mortgages with federally backed FHA financing, began accepting applications under a legislatively authorized expansion Wednesday. 

To qualify, borrowers must be spending more than 31 percent of their income on mortgage payments. Loans made this year are excluded, except for those completed on Jan 1. Borrowers must have made six months of payments on their loans. 

Lenders must agree to participate and erase 10 percent of the home’s current value before the government will guarantee the mortgage. A concern among lenders is that investors in mortgage securities must take an immediate loss and can’t recoup their lost money if home prices turn upward again. 

The program is a “helpful step forward” in stabilizing the housing market and will help keep many families in their homes but it is not a cure-all, said Steve Preston, secretary of the U.S. Department of Housing and Urban Development, which administers the program. 

Troubled borrowers should contact their lenders. 

Source: Reuters 10/1/08