| Australians 'need to rethink borrowing habits'
MORTGAGEE companies say Australians will have to rethink their borrowing habits after the central bank today lifted interest rates. The Reserve Bank of Australia (RBA) hiked rates by 25 basis points to 6.50 per cent to head off inflationary pressures in the economy.Mortgage broker Mortgage Choice says some borrowers have been resting on their laurels when it comes to managing their mortgage. "This month's widely predicted rise should be the jump start many need to seriously reconsider their current mortgage situation, which should be done every year anyway,'' national manager, corporate affairs, Warren O'Rourke said. "Some people will be quite shocked at the increase because they havent been keeping in touch with industry commentary and predictions."And for the large number of people who have secured their first mortgage in the last 12 months, it will be the first time they have had to budget extra dollars per month for their property repayments. "This will take some adjustment.''Mr O'Rourke said borrowers should consider debt consolidation, fixing some or part of their loans, or refinancing.Housing Industry Association (HIA) managing director Ron Silberberg said the rise in interest rates will make it much harder for those with mortgages and for those trying to enter the housing market.Dr Silberberg said the rise was a double whack for average Australians looking to buy a home, with house prices also higher. "Too many are being locked out of the market, which is having some disturbing consequences for the private rental sector which is already strained,'' Dr Silberberg said.
Royal Consultants Provides Many New York Mortgage Options
A second New York mortgage is a great way to consolidate debt or even do some home repairs. Royal Consultants can provide fixed payment second mortgages or an equity line of credit, both of which are offered at competitive rates. Syosset, NY (PRWEB) August 10, 2007 -- Royal Consultants (http://www.royalhomeloans.com) is proud to offer consumers up to 95% financing on a second mortgage. The company specializes in New York mortgage services including home equity, debt consolidation, first time buyers, and more. Now the company is excited to offer second mortgages for those that are qualified. The mortgages can be obtained relatively easily, with a full income check or stated income for the self employed borrower. Many homeowners find that a second mortgage is a great way to update their home or make major repairs.
SimpleTuition Adds Student Loans for New Hampshire Families
NEWTON, Mass. & CONCORD, N.H.--(BUSINESS WIRE)--SimpleTuition, Inc., a company dedicated to helping students and parents make sense of education financing choices, today announced a partnership with New Hampshire Higher Education Loan Corporation (NHHELCO) to help New Hampshire families plan for and fund higher education expenses. .
GE Money & Electric & Gas Industries Association Help Homeowners Save Money, Improve Environment with Nationwide Solar ...
ST. PAUL, Minn.--(BUSINESS WIRE)--GE Money's Sales Finance unit and the Electric & Gas Industries Association (EGIA), a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions, recently announced a new multi-year relationship to provide revolving and installment consumer financing of residential solar systems through EGIA's GEOSmart Sustainable Financing Solutions loan program. .
Pakistan at 60
Government officials and independent analysts agree that Pakistan's future political stability and economic progress depend wholly on how successfully the present government deals with the issues of militancy and religious extremism. President Musharraf has repeatedly said that religious extremism and militancy could take the country back to the dark ages.
In a way, Pakistan's political stability and the government's strategy to deal with militancy and extremism are inextricably linked. Political analysts say that any form of political instability will harm Musharraf's ability to deal with extremism and militancy.
For instance, there is fear that the Musharraf government will have to postpone the general elections scheduled for January 2008 if the wave of suicide bombings and other terrorist activities continues.
Tefron Reports Second Quarter 2007 Results
- Second Quarter Revenues Were $40.6 Million, 18.3% Below Revenues of the Second Quarter of 2006.
- Cash Flow From Operations was $2.2 Million, Leading to a Net Cash Position of $4.2 Million at the end of the Quarter.
- Operating Income for the Quarter was $1.0 Million.
- Fully Diluted EPS From Continuing Operations was $0.04 in the Quarter, Compared With $0.21 in the Second Quarter of 2006.
Tefron Ltd. (Nachrichten), a leading producer of seamless intimate apparel and engineered-for-performance (EFPTM) active wear, today announced financial results for the second quarter of 2007.
As announced on April 27, 2006, Tefron closed the sale of its ownership interest in AlbaHealth. Accordingly, the financial statements of AlbaHealth are accounted for as discontinued operations, and the financial results described below do not include the financial results of AlbaHealth.
Weighing options of credit card debt consolidation effort
D ear Debt Adviser: I have consolidated all of our credit card debt onto two credit cards with APRs of 4.99 percent and 2.99 percent until it is paid off. My husband wants us to take out a loan with the bank so that we are making set monthly payments, even though the interest rate would be considerably higher, possibly around 11.25 percent. I have tried to explain to him that we would be paying more money that way, but he does not understand. Can you explain it in a way he can understand or am I somehow looking at this wrong? -- Susan Dear Susan: I can tell who's the most fun at your house. You clearly like an unstructured approach that allows for side trips when something interesting comes along. The old "ball and chain" likes a direct approach with few unknowns and a clear end to the journey.
Watch List (Aug. 5-11): Ah Contraire
In this week's issue we report that: while U.S. homebuilders are still writing down land holdings, others are starting to look at the opportunities that may be coming; U.S. newspapers are taking big hits on troubles in residential real estate; Prudential Real Estate Investors says those troubles are hanging heavy over an otherwise strong commercial market; and CBRE Realty Finance takes a hit on foreclosures; plus other news you'll find only here in the entire column and give you the latest facility closures, permanent mass layoffs and properties on The Watch List. Land Speculators Starting To Awaken With run away asset writedowns and land option contract cancellations by U.S. homebuilders still climbing, it would be a solidly contrarian view to start looking for buying opportunities. However, that is just what Canadian property owner Brookfield Asset Management started talking about this week.
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