national: Lien Relief for Homeowners Trying to Refinance or Sell from the IRS - 12/17/08 08:23 PM
The Internal Revenue Service (IRS) has announced an expedited process that will make it easier for financially distressed homeowners to avoid having a federal tax lien block refinancing of mortgages or the sale of a home.If taxpayers are looking to refinance or sell a home and there is a federal tax lien filed, there are options. Taxpayers or their representatives, such as their lenders, may request that the IRS make a tax lien secondary to the lien by the lending institution that is refinancing or restructuring a loan. Taxpayers or their representatives may request that the IRS discharge its claim if the … (1 comments)

national: McCain Town Hall Meeting Held At Burlington County College, New Jersey - 06/13/08 03:20 PM
McCain Introduced by Joe Lieberman at Burlington County NJ Town Hall MeetingGOP Presidential hopeful, John McCain, held a major Town Hall meeting at the Burlington County College (BCC) auditorium, a host to many past political events because of it's facilities and location.I was curious to see what McCain was like outside of the sound bites that are normally presented on the news.  Barack Obama was also appearing in the Delaware Valley, but BCC was much more convenient, easier to reach and the meeting was open to anyone.There was the typical long line getting in through security but I arrived about 45 minutes before … (2 comments)

national: Beige Book Released By Federal Reserve For June 2008 - 06/12/08 12:55 AM
The Federal Reserve recently published their latest issue of the Beige Book. It is available online. The following is a brief list of it's overall (national) summary findings (using data as of June 2nd):1. Economic activity remained weak since the last report. Economic activity was weak, soft, sluggish, modest in all Districts, except Philadelphia, Atlanta, Cleveland, St. Louis and San Francisco which had stable or little change. 2. Consumer spending slowed over most of the county due to higher gas and food prices. Retail sales were mixed with stable to higher inventories. Vehicle sales were weak, especially for SUVs and trucks, but solid for hybrid and … (3 comments)

national: Getting the Record Straight About the SubPrime Mortgage Crisis - 06/11/08 01:48 PM
The Washington Post published (6/9) a report, How HUD Mortgage Policy Fed The Crisis, subtitled, Subprime Loans Labeled 'Affordable'.  The article basically takes HUD to task for fueling the risky lending process, under the banner of "affordable" housing, that was characteristic of the subprime mortgage market.  It implicates Fannie Mae and Freddie Mac, but focuses on HUD, starting under the Clinton administration. The next day (6/10), HUD fired off their response with a press release entitled, Setting the Record Straight, in which it states that "the Washington Post, citing former HUD officials and academics, claimed HUD's affordable housing goal requirements of Fannie … (0 comments)

national: Who Does Your Neighbor Really Support Politically - 06/06/08 11:21 PM
With regard to federal political campaign contributions, it is now possible to easily determine who your neighbors, friends, relatives, co-workers and associates are supporting and how much money they are giving.  The HuffingtonReport FundRace provides this resource.  It states, "Want to know if a celebrity is playing both sides of the fence? Whether that new guy you're seeing is actually a Republican or just dresses like one?" 
This site allows you to easily search by name, address or zip.  An interesting feature allows you to search celebrities by name and zero in on a map showing their registered address. You can now determine if your … (0 comments)

national: FTC Published Final Rule on CAN-SPAM Definitions and Implementation - 06/06/08 10:44 PM
The U.S. Federal Trade Commission (FTC) recently published (5/31/08) in the Federal Register a Final Rule: "Definitions and Implementation Under CAN-SPAM Act."The rule becomes effective on July 7, 2008 and provides definitions, modifications and clarifications to the "Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003" (CAN-SPAM). [See also Wikipedia]The corresponding previous FTC Press Release states: The new rule provisions address four topics: (1) an e-mail recipient cannot be required to pay a fee, provide information other than his or her e-mail address and opt-out preferences, or take any steps other than sending a reply e-mail message or visiting … (0 comments)

national: Celebrate: Memorial Day 2008 - 05/26/08 12:14 PM
Celebrated in most states on the last Monday in May, which this year is May 26th; Memorial Day is a great time for all of us to remember the men and woman who gave their lives in service to our country.It a great opportunity to join in the celebrations and to help teach our children to respect and appreciate that the priviledges we enjoy today are directly due to the sacrifices of those men and women who were killed in action while a member of the armed forces.
See post for prior year for links to televised programs and links to … (0 comments)

national: U.S. Energy-Related Carbon Dioxide Emissions Rose by 1.6 Percent in 2007 - 05/23/08 08:16 PM
According to a recent U.S. Energy Information Administration (EIA) news release, preliminary estimates of U.S. carbon dioxide emissions from burning fossil fuels increased by 1.6 percent in 2007.  The economy, as measured by Gross Domestic Product (GDP), grew by 2.2 percent and energy demand rose by 1.7 percent indicating that energy intensity (energy use per unit of GDP) fell by 0.5 percent.  Carbon dioxide intensity (carbon dioxide emissions per unit of GDP) also fell by about 0.5 percent.  
Factors that drove the emissions increase included weather conditions that increased the demand for heating and cooling services and a higher carbon intensity of electricity … (0 comments)

national: Beige Book Released By Federal Reserve For April 2008 - 04/16/08 10:46 PM
The Federal Reserve recently published their latest issue of the Beige Book. It is available online. The following is a brief list of it's overall (national) summary findings (using data as of April 7th):1. Economic activity has slowed since the last report. Business activity has weakened in all but three Districts, Richmond, Boston and Cleveland, which has mixed or steady activity.2. Consumer spending was softening over most of the county. Vehicle sales and retail activity were reporting year over year declines.  Retail inventories are steady or rising.  Philadelphia noted some relative strength in demand for luxury goods3. Tourism generally was described as strong, particularly due … (0 comments)

national: Tips For Being A More Savvy Consumer From The FTC - 04/05/08 10:26 PM
The Federal Trade Commission (FTC) has some tips to help you be better at avoiding being a victim of consumer fraud... 1. Know who you're dealing with. Only do business with companies that clearly provide their name, street address and phone number. 2. Protect you personal information. Only share credit card and other personal information when buying from a company you know and trust. 3. Take your time. Resist the urge to "act now". Most any offer that's good today will be good tomorrow, too. 4. Rate the risks. Every potentially high-profit investment is a high-risk investment. That means you could … (0 comments)

national: Bush In New Jersey Discussing Homeownership and Economy - 03/28/08 07:31 PM
U.S. President George Bush appeared in Freehold, Monmouth County, NJ today to praise a local non-profit company, Novadebt, which provides credit counseling to consumers who are burdened with heavy debt.
This was Bush's first visit to Monmouth County since he was President.  He gave a speech to the press and then talked with members of the company, a couple of homeowners who were helped by the program, and then toured the offices shaking hands and talking with employees.Bush talked about the HOPE NOW Alliance, which is a private-sector group of lenders, loan servicers, investors, mortgage counselors.  He encouraged anyone worried about losing their home to … (0 comments)

national: FEMA: Flood Insurance - Truth and Fiction - 03/26/08 10:27 PM
Popular yet incorrect notions about the National Flood Insurance Program can lead homeowners and businesses to avoid this easy and important safeguard. For example here are some common myths:  * Homeowners insurance policies cover floods.  * You cannot buy flood insurance if you do not live in a high flood-risk area or if your home or business flooded in the past.  * National Flood Insurance does not cover flood damage to anything in the basement.  * You cannot buy flood insurance immediately before or after a flood.  FEMA has provide some truths about National Flood Insurance that can help residents prepare for floods... (Source: FEMA 1747-013) Full story...  For … (0 comments)

national: New Brochure From HUD: Home Economics -- Own Your Future - 03/09/08 07:43 AM
HUD has created an informational brochure entitled, Home Economics -- Own Your Future, which is available online as a PDF download.The brochure is a quick reference to online resources for obtaining Annual Credit Reports, the ABC's of Homebuying, Home Loan Leaning Center, Borrow's Rights, Predatory Lending and Fair Housing information.Home Economics -- Own Your Future (PDF)The information provided by links references in the brochure are important for eveyone who desires to own a home or who is planning to soon buy a home.  Click here for other HUD related articles
Copyright 2008 by Lawrence Yerkes. All Rights Reserved.
… (1 comments)

national: Beige Book Released By Federal Reserve For March 2008 - 03/07/08 12:08 AM
The Federal Reserve recently published their latest issue of the Beige Book.  It is available online. The following is a brief list of it's overall (national) summary findings (using data as of February 25th):    1. Economic activity has slowed since the beginning of the year.  Business activity was weakened, slowed or subdued.2. Consumer spending reports were generally "downbeat" or unchanged.  Vehicle sales were slow or sluggish.  Retail activity was reported as weak or softening.    3. Tourism generally continued to expand, although with some areas of softening. 4. Reports were mixed in nonfinancial service industries. Activity for transportation services was weaker. Temporary staffing also reported mixed demands.5. Manufacturing was varied but generally subdued, with continued … (0 comments)

national: HUD Allows You To Look Up FHA Mortgage Limits For Your Area - 03/06/08 09:50 PM
FHA and Fannie Mae- Freddie Mac conforming loan limits have been released by the U.S. Department of Housing and Urban Development (HUD). HUD has provided a FHA Mortgage Limits page. This page allows you to look up the FHA mortgage limits for your area or several areas, and then list them by state, county, or Metropolitan Statistical Area:FHA Mortgage Limits Lookup For Example, here is the information displayed for Burlington County: … (0 comments)

national: IRS Seeks New Issues for the Industry Issue Resolution Program - 03/04/08 04:22 PM
The Internal Revenue Service is encouraging business taxpayers, associations and other interested parties to submit to the Industry Issue Resolution (IIR) Program tax issues for resolution involving a controversy, a dispute or an unnecessary burden on taxpayers.The objective of the IIR program is to resolve business tax issues common to significant numbers of taxpayers through new and improved guidance. In past years, issues have been submitted by associations and others representing both small and large business taxpayers, resulting in tax guidance that has affected thousands of taxpayers.More details...
Prior IRS Example of IIR Issues Accepted by IRS in 2007
Source: IRS IR-2008-31For real … (0 comments)

national: IRS: Stimulus Rebate Payments In May Require Filing A 2007 Tax Return - 02/13/08 11:50 PM
The Internal Revenue Service (IRS) advised taxpayers that in most cases they will not have to do anything extra this year to get the economic stimulus payments beginning in May."If you are eligible for a payment, all you have to do is file a 2007 tax return and the IRS will do the rest," said Acting IRS Commissioner Linda Stiff.The IRS will use information on the 2007 tax return filed by the taxpayer to determine eligibility and calculate the amount of the stimulus payments.The IRS will begin sending taxpayers their payments in early May after the current tax season concludes. Payments to … (0 comments)

national: Resources for Locating Music Festivals in the United States, North America - 01/26/08 09:16 PM
Here are updated resources for cultural music events throughout the country that include festivals and concert by world class artists who may not be part of the normal popular radio music fare or everyday gossip magazine fodder, but have growing followings of people who have heard them and appreciate their uniqueness, diversity, artistry and ability to musically connect with their audiences.Check out the growing lists of events and make plans to attend several near where you live or as part of your vacation...World Music / CrashArts - presents the finest traditional and contemporary performing arts from around the world to the … (0 comments)

national: Your State Constitutions - 01/20/08 03:37 PM
I just received a forwarded email that listed the words in the original or current Preambles to all the state constitutions in the United States of America.  I don't know who first sent it.  Maybe you've also seen the email.  I had never seen every state Preamble listed together and found it enlightening.  Our state constitutions are important documents, as they are the basic governing document effecting every citizen of our respective states.  I thought it would be interesting to include the state Preambles here and ask your help to link to the constitution for your state (if links do not already exist) and/or include interesting information/history/pictures related to your state constitution.  (Insert information … (8 comments)

national: Beige Book Released By Federal Reserve For January 2008 - 01/17/08 01:48 AM
The Federal Reserve recently published their latest issue of the Beige Book.  It is available online. The following is a brief list of it's overall (national) summary findings (using data as of January 7th):    1. Economic activity increased modestly since the last report, but at a slower pace.  Expansion was characterized as moderate, modest and mixed. The economy grew at a slight increase in seven Districts, two reported mixed conditions and three reported slowing.2. Consumer spending during the holidays was reported as subdued with continued weakness in auto sales.  Overall outlook among retail merchants for 2008 is cautious.    3. Tourism activity was generally positive. 4. Most reports cited robust demand in several nonfinancial service industries including health care, hospitality, … (0 comments)

 

Lawrence Yerkes - Broker Associate, Southern New Jersey Real Estate Services

Medford Township, NJ

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