Small Business Loans Get A FACELIFT!! - 06/30/09 07:13 PM
The SBA 504 Program Has Been Revamped to Allow Refinancing Business DEBT!
The U.S. Small Business Administration has agreed to allow the 504 loan program (normally to buy real estate for an owner operated business) to allow those businesses to refinance existing business loans used to purchase real estate and other fixed assets.
The changes were authorized in the American Recovery and Reinvestment Act legislation and are considered 'permanent'. Now business owners can restructure debt to improve cash flow and support job creation...the goal of the changes. 'Bout time!
Recently, the government reduced the 504 program fees and temporarily raised to 90% the guarantee level on … (2 comments)

Confessions of a SPAM ARTIST! - 06/24/09 10:35 PM
Have you been getting as much spam lately as I have?  SHEESH. I get at least 40 spam emails a day now. However, not to point the finger too stridently: I must admit my own part in e-spamming! Recently, I decided to email the women in my network an invitation to a party and one registered my email as spam (mea culpa).
Upon closer reflection, I realized I had blithely cruised my database for women. How rude to assume my business contacts would want to socialize with me? So that was my comeuppance: business contacts are not always up for social or other causes. And in our … (29 comments)

First Time Buyer BAMBOOZLE! - 06/19/09 06:53 PM
More Hype Down the Pike: There are more rumors than you can shake a stick at about the proposed HUD 2nd mortgage tax credit loan necassary to achieve the much touted $8000 tax credit as 'just in time' cash to close. The problem lies between two government agencies: HUD and the IRS and their many participating FHA lenders. Firstly, how, may we ask, is an unproven borrower, who has yet to be paid their annual income, to know what their tax burden will be during a year --when they may just as well get a raise or loose their job? OK, the Feds are trying: … (6 comments)

Hope: The Early Years! - 06/09/09 08:20 PM
Making Home Affordable and Stimulus Refi Programs are now the hot buzz words in mortgage land. But exactly what are they and who qualifies for help? Folks in financial distress need to know they have options. But how do you find out what those options are? Most banks and mortgage lenders are just finding how what to do about the high percentage of folks coming in for whom we have no classic answers. And we just hate saying "No" or worse yet: "I don't know!"  Fortunately, the Obama administration has seen fit to refine the original Bush 'Hope For Homeowners' program. Since the original Hope roll out was something … (0 comments)