Real Estate Investing

With foreclosures up 121 percent since this time last year, the bill riding through Congress may be a huge lifeline for tens of thousands of families.  My friend Mary missed the deadline - January 2005 to January 2007 - by two months.  She bought her home in November 2004 therefore is ineligible for help through this bill. 

According to CNN Money, there are additional requirements if you need mortgage rescue,

[Homeowners] must be spending at least 31% of their gross monthly income on mortgage debt to be eligible for the program.  They can be up to date on their existing mortgage or in default, but either way borrowers must prove that they will not be able to keep paying their existing mortgage - and attest that they are not deliberately defaulting just to obtain lower payments.

This is a solid first step to stabilizing the housing market.  Coupled with a sudden drop in gas prices, perhaps the economy can make a positive turn.  Of course, oil dropped because new home sales were stronger last month than what was predicted … a virtual economic merry-go-round.

With a return of consumer confidence, partly credited to the economic stimulus checks sent by the Feds these last few months, spending is up!  I’m looking for a used table to give as a closing gift to a friend of mine.  Where am I looking? Yard sales.  (MSNBC has provided more tips to find affordable furniture.)

That’s how I’m spending my weekend.  That and watching some Batman movie everyone is talking about!

Enjoy your weekend!