Wednesday, September 07, 2005

Foreclosure on horizon for Charlotte couple

Bradenton Herald | 09/04/2005 | Foreclosure on horizon for Charlotte couple: "- Kwanza Smalls found the brick split-level in a supermarket circular in January 2000.
She had moved with her husband and two children to Charlotte from Macon, Ga., the previous summer after finishing a graduate degree in public administration. They were living in a northeast Charlotte apartment.
All she needed was a loan.
The first mortgage broker she visited told her that she could borrow $75,000, based on what she could afford to pay each month.
But the home cost $105,000."
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Costs of buying vacation home extend beyond purchase price

BostonHerald.com - Business News: Costs of buying vacation home extend beyond purchase price: "Even if you think you can afford both the purchase and ongoing cost of a vacation home, there are a number of non-financial issues you should consider before buying one.

For starters, owning a vacation home usually requires at least as much, if not more, of your time as does owning a primary residence.

And you shouldn't count on hiring a management company to solve the problem.

Why?Generally, it's very difficult to find a management company that will manage"
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Evacuees Covington-bound?

Evacuees Covington-bound?: "COVINGTON - Officials here hope to learn soon whether some of the 1,200 evacuees who fled Hurricane Katrina for Kentucky will seek temporary housing in Kenton County.
Friday, the U.S. Department of Housing and Urban Development asked housing officials in Covington to identify 'vacant multifamily housing, public housing units and HUD-owned homes' where people displaced by the hurricane could find temporary shelter."
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Louisiana seeks housing grant 09/07/05

2theadvocate.com: News - Louisiana seeks housing grant 09/07/05: "LAFAYETTE -- Louisiana housing officials are pursuing a $1.4 billion grant to provide long-term housing to an estimated 480,000 evacuees across the state.
Lafayette Housing Authority Director Walter Guillory called a meeting Tuesday to ask area elected officials to contact the Department of Housing and Urban Development to voice their support of the grant.
'It's something new,' Guillory said. 'We've got to get the powers-that-be at HUD to get on board.'"
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Scramble is on to fulfill demands for housing

Star-Telegram | 09/07/2005 | Scramble is on to fulfill demands for housing: "Public and private housing officials in Tarrant County were scrambling Tuesday to line up apartments and federal aid for people who escaped the floodwaters of Hurricane Katrina.
Managers at area apartment communities were cataloging available units, waiving deposits and arranging for short-term leases. Meanwhile, government officials were helping people get vouchers to defray the cost of some rent.
Hundreds of evacuees packed the east-side offices of the Fort Worth Housing Authority on Tuesday, seeking rental vouchers that the agency began handing out late last week. Staff members began fanning out to hurricane-relief shelters in Tarrant County on Tuesday "
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Storm refugees prompt surge in home buying

Australian Financial Review -: "Hurricane Katrina destroyed hundreds of thousands of homes, threw at least 1million people out of work, disrupted supply lines for businesses and brought misery to untold numbers. It might just put an end to the US housing boom.
There are good reasons to think it might: the storm has led to rising oil prices and shortages of building materials, and is likely to shake consumer confidence. But most experts think the housing market's five-year run still has a way to go before it peters out.
However, in a weird twist of fate, the storm could even extend the housing boom, which in recent weeks had seemed to be running out of steam. That is certainly true in places like Houston, Atlanta and Baton Rouge, Louisiana, "
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