HUD Approves $84.7 Million Deal to Construct 65-Bed Hospital in …
HARRISBURG, PA – April 9, 2009 – (RealEstateRama) — Attorney General Tom Corbett today announced that the Attorney General’s Bureau of Consumer Protection has launched an investigation into the business practices of American Escrow LLC, … LANSING, MI – April 07, 2009 – (RealEstateRama) — The Office of Financial and Insurance Regulation (OFIR) announced today that all new rate filings by homeowners insurance companies that rely on insurance credit scoring as a factor in … read more…
Trade Jim News » Concrete Roof Tile Products Certified for Hail …
Concrete Roof Tile Products Certified for Hail Impact Protection Resulting in Insurance Rate Reductions for Homeowners. IRVINE, CA–(Marketwire – April 23, 2009) – Hail storms continue to ravage the hail belt and … read more…
Is Your Home Safe from Title Fraud?
The Ministry of Government Services Consumer Protection and Service Modernization Act of 2006 essentially offers added protection for homeowners, and protects them from having their home stolen from under them as a result of title fraud. … Thirdly, purchase title insurance. Unlike mortgage default insurance or term insurance, title insurance protects you from title fraud as well as other losses resulting from title defects that were not revealed when you purchased the … read more…
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Property owners and those who have let out house on rent often face difficulty getting rent. The tenant may not pay the amount due on time and may altogether miss out paying. It is indeed a difficult … read more…
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Raising funds through auto insurance tips is really a great thing to afford. It can turn out to be beneficial for the next insurance policy that you are going to make. It is basically required in orde… read more…
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From GoArticles.com
Resolved Question: Well darn, Hmm~~since taxpayers own 80% of AIG, (bcuz of bailout $$’s) do we also ‘own’ ~~?
~~~
…certain percentages of other recipients ‘bailout’ funds since we, the taxpayers, will ultimately, in fact, at this time, OWN certain percentages of those monies also?
At A.I.G., Good Luck Following the Money
By GRETCHEN MORGENSON
Published: March 14, 2009
WE return this week to the subject of the American International Group, the giant insurer that has received $170 billion in taxpayer guarantees, because the clamor over its rescue continues to grow. Of concern to those on both Capitol Hill and Main Street is the secrecy surrounding the $50 billion funneled to A.I.G.’s counterparties since it nearly collapsed last fall.
Now that we live in bailout nation, why does the A.I.G. rescue rub so many the wrong way? Here is a hypothesis: Even as investors, employees, communities and taxpayers have been battered by the crippled financial system, A.I.G.’s counterparties were saved from losses on deals they struck with the insurer.
Add the fact that the government has resisted revealing these companies’ identities or how much federal money they received, and it’s easy to see why resentment boils. As a result of the A.I.G. rescue, taxpayers own almost 80 percent of the company.
Representative Carolyn B. Maloney, Democrat of New York, said she had twice asked for a full accounting from Ben S. Bernanke, the chairman of the Federal Reserve, which arranged the A.I.G. rescue. She has not received it.
“They have told others it is proprietary information,” Ms. Maloney said in an interview. “But we are the proprietors now. Taxpayers own the store, and we should be able to see the books.”
A.I.G., at one time the world’s largest insurer, sold contracts to these sophisticated counterparties that theoretically protected them from losing money if the debt they had purchased defaulted. Known as credit default swaps, the contracts offer the same kind of protection a homeowner receives from an insurance policy against fires and other unforeseen calamities.
The arrangements behind the deals produced fees for A.I.G. while the firms buying the contracts got peace of mind. No one thought A.I.G. might have to pay hundreds of billions of dollars in claims. Until, that is, A.I.G. came under financial pressure last year.
Resolved Question: I’m eligible to have my PMI dropped, is there any negatives for me, the owner of the property in dropping this?
I know what it is and I know it will remove this “this extra protection” for my mortgage company. I don’t see any negatives in having it now taken off since it is now eligible to be removed. I still have Homeowners Insurance and even Insurance if I were to lose my job and they would pay for 6 months.
Resolved Question: Title Insurance & condo deed?
I just bought a condo unit in Brooklyn, NY. At closing date, I was surprised to see that the deed to the condo apartment is only 5 pages. I have also bought title insurance on the condo unit. These two questions can apply to any homeowners,
1) What if I lose the deed papers, how do I get it replaced?
2) Title insurance: what if the company (title insurer) where I purchase the title protection from went out of business or failed, who will secure my title then? Will it become void?
Any contribution to one or both questions can help. Thanks =)
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