Government Considers Eminent Domain for Foreclosures | Strategic ...

Posted on 19 August 2012. Tags: bank, fannie mae, forclosures, Freddie Mac, housing crisis, real estate

There is another great housing foreclosure debate raging in governments ? this time over the issue of eminent domain. Some local governments are throwing around the idea of condemning mortgages through eminent domain. It would work like this ? a town or county ?would seek court approval to pay a ?fair market? value to a lender or investor holding a homeowner?s underwater mortgage.??The ?fair market value? would be substantially less than what is left on the balance of the mortgage. Then, the local government would ?offer to sell the smaller mortgage back to the homeowner, who would refinance the outstanding balance with a smaller loan.? The proposed action is being fought by the mortgage finance industry and the FHFA (the regulator of Freddie Mac and Fannie Mae). Struggling towns, on the other hand, are reaching for any sort of foreclosure relief, citing this radical move would help boost local housing markets and speed up some economic recovery.

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Read the full article here.

About Josh Cantwell

Josh is a full time real estate investor from Cleveland, Ohio who?s been involved in thousands of wholesaling, rehabs, rentals, foreclosure, pre-foreclosure and short sale transactions over the past 7 years.

Source: http://www.strategicrealestatecoach.com/2012/08/19/government-considers-eminent-domain-for-foreclosures/

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Stock BUZZ: Apple Surges to RECORD High, Facebook and Groupon SINK

Shares of Apple (NASDAQ:AAPL) jumped nearly 2 percent during regular trading to reach a new closing high of $648.11. Analyst Peter Misek from Jefferies believes a smaller iPad may go on sale by October and a new television product could become available by 2013. He also reiterated his Buy rating on the stock and raised his price target to $900 from $800, estimating Apple will make 25 million iPad devices of all kinds in the current quarter, up from a previous estimate of 16 million.

Facebook (NASDAQ:FB) shares slumped again on Friday and continue to attract attention in late afternoon hours. The Zuckerberg-led company has come under new pressure as the first IPO lockup agreement recently expired and brought 271.1 million more shares to the market for trading. On November 14, more than 1.2 billion shares will be available for trading and another 149.4 million shares a month later. Shares hit a new all-time low along with Groupon (NASDAQ:GRPN).

Don?t Miss: Facebook Insiders: Sell, Sell, SELL!

Ann (NYSE:ANN) shares closed the day 20 percent higher and continues to gain in late afternoon trading. The clothing retailer recently reported financial results for the second quarter. Net income rose 24 percent to $30.7 million (63 cents per share), compared to $24.8 million (47 cents per share) a year earlier. Revenue also increased 6.6 percent to $594.9 million. It was a beat on the top and bottom line for the company.

After plunging 11 percent, Aeropostale (NYSE:ARO) shares bounced 0.91 percent in late afternoon hours. The company said late Thursday that net income in the second quarter crashed 97.6 percent to $71,000, compared to $2.9 million a year earlier. Revenue edged 3.7 percent higher to $485.3 million in the same time period. It was a miss on the top and bottom line for the company. Thomas P. Johnson, chief executive officer, commented, ?While we were encouraged by the customer response to our fashion offering, we were disappointed by our overall financial performance for the second quarter.?

Investor Insight: Are Central Banks Still Hoarding Gold?

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Source: http://wallstcheatsheet.com/stocks/radar-movers-apple-surges-to-new-high-facebook-and-groupon-sink.html/

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For Sale : Other Sony FD Trinitron/WEGA 21 Inch Flat Screen TV

For Sale !

• Product Name, Manufacturers code & URL: Sony FD Trinitron/WEGA 21 inch Flat screen TV

• Expected Price: Rs 2500/-

• Indian warranty valid/Remaining Warranty period: No

• Reason for Sale: Not being used anymore

• Purchase Invoice Available: No

• Accessories Included: Remote

• Product Location: Lucknow, Uttar Pradesh.

• Preferred Courier: No Shipping

• Shipping Charges: No Shipping

• Payment Options: Cash, Bank transfer

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Source: http://www.erodov.com/forums/showthread.php?t=55694&goto=newpost

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Photo Gallery: Celebrating Eid, the end of Ramadan

AAA??Aug. 19, 2012?4:02 PM ET
Photo Gallery: Celebrating Eid, the end of Ramadan
By The Associated Press??By The Associated Press

Panama's Muslims children attend Eid al-Fitr prayer, which marks the end of the holy month of Ramadan in Panama City, Sunday, Aug. 19, 2012. Muslims around the world celebrate Eid al-Fitr, marking the end of Ramadan, the Muslim calendar's ninth and holiest month. According to the International Journal of Environmental Science and Development, around 10.000 Muslims reside in Panama. (AP Photo/Arnulfo Franco)

Panama's Muslims children attend Eid al-Fitr prayer, which marks the end of the holy month of Ramadan in Panama City, Sunday, Aug. 19, 2012. Muslims around the world celebrate Eid al-Fitr, marking the end of Ramadan, the Muslim calendar's ninth and holiest month. According to the International Journal of Environmental Science and Development, around 10.000 Muslims reside in Panama. (AP Photo/Arnulfo Franco)

Muslims children attend Eid al-Fitr prayer, which marks the end of the holy month of Ramadan in Panama City, Sunday, Aug. 19, 2012. Muslims around the world celebrate Eid al-Fitr, marking the end of Ramadan, the Muslim calendar's ninth and holiest month. According to the International Journal of Environmental Science and Development, around 10.000 Muslims reside in Panama. (AP Photo/Arnulfo Franco)

Muslims attend Eid al-Fitr prayer, which marks the end of the holy month of Ramadan in Panama City, Sunday, Aug. 19, 2012. Muslims around the world celebrate Eid al-Fitr, marking the end of Ramadan, the Muslim calendar's ninth and holiest month. According to the International Journal of Environmental Science and Development, around 10.000 Muslims reside in Panama. (AP Photo/Arnulfo Franco)

Panama's Muslims pray during Eid al-Fitr prayer, which marks the end of the holy month of Ramadan in Panama City, Sunday, Aug. 19, 2012. Muslims around the world celebrate Eid al-Fitr, marking the end of Ramadan, the Muslim calendar's ninth and holiest month. According to the International Journal of Environmental Science and Development, around 10.000 Muslims reside in Panama. (AP Photo/Arnulfo Franco)

Panama's Muslims pray during Eid al-Fitr prayer, which marks the end of the holy month of Ramadan in Panama City, Sunday, Aug. 19, 2012. Muslims around the world celebrate Eid al-Fitr, marking the end of Ramadan, the Muslim calendar's ninth and holiest month. According to the International Journal of Environmental Science and Development, around 10.000 Muslims reside in Panama. (AP Photo/Arnulfo Franco)

Muslims around the world on Saturday started celebrating the Eid al-Fitr, the feast that marks the end of the month of Ramadan this weekend.

The Muslim holy month devoted to dawn-to-dusk fasting, prayers, good deeds and abstinence from worldly pleasures culminates with the holiday of Eid al-Fitr. In most places Eid is usually celebrated up to three days and is a public holiday.

Shoppers flooded markets in India to stock up on food and other treats and in Pakistan, women decorated their feet and hands with henna tattoos. Other people gave prayers by themselves or with large crowds in the Philippines and Indonesia.

Here is a look at celebrations of Eid al-Fitr around the world.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-08-19-Photo%20Gallery-End%20of%20Ramadan/id-a1a35a4f170a4bec813afda2a38825ba

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Source: http://twitter.com/ekathimerini/statuses/236412125805957121

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Philly officer fatally shot after finishing shift

PHILADELPHIA (AP) ? Authorities have identified the off-duty Philadelphia police officer who was shot and killed as he walked along a north Philadelphia street, and officials announced rewards totaling $30,000 for information leading to an arrest in the case.

Police say 40-year-old Officer Moses Walker Jr. had just finished his shift early Saturday when he was shot several times about four blocks from the 22nd District station. The 19-year veteran of the force was pronounced dead at Hahnemann University Hospital.

Police say the city is offering a $20,000 reward and the Fraternal Order of Police Lodge 5 is offering a $10,000 reward.

Lt. Raymond Evers says Walker's service weapon was found under his body, but police don't know whether it was discharged. They are checking to see if anything was taken from his backpack.

Source: http://news.yahoo.com/philly-officer-fatally-shot-finishing-shift-144804996.html

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Steve Jobs? Stolen iPad Given as Gift to Bay Area Clown

A bay area entertainer got a bit of a shock when he discovered his recently gifted iPad was a.) stolen and b.) actually belonged to the late Steve Jobs.

Source: http://feedproxy.google.com/~r/GearFactor/~3/sNTRxGgZERk/

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