Texas Land

Bush and the Texas Land Grab Bush and the Texas Land Grab July 16, 2002 By Nicholas D. Kristof Editorial Op-Ed To submit a Letter to the Editor: letters@nytimes.com Democrats and media hounds are baying under the wrong tree. The point in President Bush's business career where he took outrageous shortcuts was not at Harken Energy, but rather when he was grabbing land for a new baseball stadium in Arlington for his Texas Rangers baseball team. Mr. Bush broke no laws. Neither do the overwhelming majority of corporate executives. The cloud over the business world comes not so much from lawbreaking as from avaricious bruising of the public interest. The challenge is not catching criminals but injecting public scrutiny into a culture of cronyism in which executives, accountants, regulators and "independent" board members all ooze empathy for each other. When Asia had its economic crisis in 1997-98, Americans properly trashed its "crony capitalism." But we suffer from the same affliction ourselves, and President Bush will not address the issue seriously because cronyism has been his way of life -- the Bushes call it loyalty. I have a stack of court documents from Arlington that portray the "sordid and shocking tale" of the Rangers stadium, as one lawsuit puts it. Essentially, Mr. Bush and the owners' group he led bullied and misled the city into raising taxes to build a $200 million stadium that in effect would be handed over to the Rangers. As part of the deal, the city would even confiscate land from private owners so that the Rangers owners could engage in real estate speculation. "It was a $200 million transfer to Bush and Rangers owners," complains Jim Runzheimer, an anti-tax campaigner in Arlington. William Eastland, a leading Republican in Arlington, is also outraged, and puts it this way: "You're using public money for a private purpose." Mr. Eastland was a Bush delegate to the Republican National Convention in 2000 but still believes that the Bush group behaved shadily and against the public interest. Local voters overwhelmingly approved the deal, so maybe we shouldn't get so exercised by star-struck local officials giving $200 million to rich baseball owners. But the most unseemly part of the deal was that Mr. Bush and the Rangers' owners conspired with city officials to seize private property that would be handed over to the Bush group. "A group of wealthy and influential people threatened and traded their way into an unprecedented takeover of government power and private property in an awesome display of greed and avarice," charges a lawsuit by the landowners, in what strikes me as a fair recitation of events. Another suit charges that the deal "can only be described as astounding, unprecedented and blatantly illegal." A copy of the secret agreement among Mr. Bush and the other Rangers owners shows that they intended to make money not just by running a baseball club but also by land speculation. For example, one owner found a nice chunk of land and sent a memo suggesting that it "sounds like another condemnation candidate if you want to work the site into your master plan," according to the court documents. Another of the owners' internal memos casts a proprietary gaze on a property and declares: "We plan to condemn this land." For a group of financiers to go around town admiring properties and deciding which to seize through the government power of condemnation so that they can acquire free land and speculate on it is appalling. Even Kazakhstan would blush at such practices. Horace Kelton, for example, owned land that the Rangers wanted. The owners got Arlington to seize it, with the city paying less than $1.50 per square foot even though it had previously paid $10 a square foot for other land nearby. "It was an extremely low price, and that's why we had a court case that lasted seven years," Mr. Kelton recalled. Eventually, his family got $11 a square foot. In fairness, Mr. Bush was simply being a hard-nosed businessman. He did a great job leading the owners' group, and it's hard to take seriously the caricature of him as unintelligent when he led the Rangers so lucratively. Indeed, his $14 million profit on the Rangers financed his entry into politics. But it's also a sordid tale of cronyism, of misuse of power, of cozy backroom money-grubbing -- a more pressing threat to American business than outright criminality. LINK to source

home equity lines of

What You Should Know About Home Equity Lines of Credit ESPAÑOL More and more lenders are offering home equity lines of credit. By using the equity in your home, you may qualify for a sizable amount of credit, available for use when and how you please, at an interest rate that is relatively low. Furthermore, under the tax lawdepending on your specific situationyou may be allowed to deduct the interest because the debt is secured by your home. If you are in the market for credit, a home equity plan may be right for you. Or perhaps another form of credit would be better. Before making a decision, you should weigh carefully the costs of a home equity line against the benefits. Shop for the credit terms that best meet your borrowing needs without posing undue financial risk. And remember, failure to repay the amounts youve borrowed, plus interest, could mean the loss of your home. What is a home equity line of credit? What should you look for when shopping for a plan? Costs of establishing and maintaining a home equity line How will you repay your home equity plan? Lines of credit vs. traditional second morgage loans What is a home equity line of credit? A home equity line of credit is a form of revolving credit in which your home serves as collateral. Because the home is likely to be a consumers largest asset, many homeowners use their credit lines only for major items such as education, home improvements, or medical bills and not for day-to-day expenses. With a home equity line, you will be approved for a specific amount of credityour credit limit , the maximum amount you may borrow at any one time under the plan. Many lenders set the credit limit on a home equity line by taking a percentage (say, 75 percent) of the homes appraised value and subtracting from that the balance owed on the existing mortgage. For example: Appraised value of home $100,000 Percentage x 75% Percentage of appraised value = $ 75,000 Less balance owed on mortgage - $ 40,000 Potential credit $ 35,000 In determining your actual credit limit, the lender will also consider your ability to repay, by looking at your income, debts, and other financial obligations as well as your credit history. Many home equity plans set a fixed period during which you can borrow money, such as 10 years. At the end of this draw period, you may be allowed to renew the credit line. If your plan does not allow renewals, you will not be able to borrow additional money once the period has ended. Some plans may call for payment in full of any outstanding balance at the end of the period. Others may allow repayment over a fixed period (the repayment period), for example, 10 years. Once approved for a home equity line of credit, you will most likely be able to borrow up to your credit limit whenever you want. Typically, you will use special checks to draw on your line. Under some plans, borrowers can use a credit card or other means to draw on the line. There may be limitations on how you use the line. Some plans may require you to borrow a minimum amount each time you draw on the line (for example, $300) and to keep a minimum amount outstanding. Some plans may also require that you take an initial advance when the line is set up. What should you look for when shopping for a plan? If you decide to apply for a home equity line of credit, look for the plan that best meets your particular needs. Read the credit agreement carefully, and examine the terms and conditions of various plans, including the annual percentage rate (APR) and the costs of establishing the plan. The APR for a home equity line is based on the interest rate alone and will not reflect the closing costs and other fees and charges, so youll need to compare these costs, as well as the APRs, among lenders. Interest rate charges and related plan features Home equity lines of credit typically involve variable rather than fixed interest rates. The variable rate must be based on a publicly available index (such as the prime rate published in some major daily newspapers or a U.S. Treasury bill rate); the interest rate for borrowing under the home equity line changes, mirroring fluctuations in the value of the index. Most lenders cite the interest rate you will pay as the value of the index at a particular time plus a margin, such as 2 percentage points. Because the cost of borrowing is tied directly to the value of the index, it is important to find out which index is used, how often the value of the index changes, and how high it has risen in the past as well as the amount of the margin. Lenders sometimes offer a temporarily discounted interest rate for home equity linesa rate that is unusually low and may last for only an introductory period, such as 6 months. Variable-rate plans secured by a dwelling must, by law, have a ceiling (or cap ) on how much your interest rate may increase over the life of the plan. Some variable-rate plans limit how much your payment may increase and how low your interest rate may fall if interest rates drop. Some lenders allow you to convert from a variable interest rate to a fixed rate during the life of the plan, or to convert all or a portion of your line to a fixed-term installment loan. Plans generally permit the lender to freeze or reduce your credit line under certain circumstances. For example, some variable-rate plans may not allow you to draw additional funds during a period in which the interest rate reaches the cap. Costs of establishing and maintaining a home equity line Many of the costs of setting up a home equity line of credit are similar to those you paywhen you buy a home. For example: A fee for a property appraisal to estimate the value of your home An application fee , which may not be refunded if you are turned down for credit Up-front charges, such as one or more points (one point equals 1 percent of the credit limit) Closing costs, including fees for attorneys, title search, and mortgage preparation and filing; property and title insurance; and taxes. In addition, you may be subject to certain fees during the plan period, such as annual membership or maintenance fees and a transaction fee every time you draw on the credit line. You could find yourself paying hundreds of dollars to establish the plan. If you were to draw only a small amount against your credit line, those initial charges would substantially increase the cost of the funds borrowed. On the other hand, because the lenders risk is lower than for other forms of credit, as your home serves as collateral, annual percentage rates for home equity lines are generally lower than rates for other types of credit. The interest you save could offset the costs of establishing and maintaining the line. Moreover, some lenders waive some or all of the closing costs. How will you repay your home equity plan? Before entering into a plan, consider how you will pay back the money you borrow. Some plans set minimum payments that cover a portion of the principal (the amount you borrow) plus accrued interest. But (unlike with the typical installment loan) the portion that goes toward principal may not be enough to repay the principal by the end of the term. Other plans may allow payment of interest alone during the life of the plan, which means that you pay nothing toward the principal. If you borrow $10,000, you will owe that amount when the plan ends. Regardless of the minimum required payment, you may choose to pay more, and many lenders offer a choice of payment options. Many consumers choose to pay down the principal regularly as they do with other loans. For example, if you use your line to buy a boat, you may want to pay it off as you would a typical boat loan. Whatever your payment arrangements during the life of the planwhether you pay some, a little, or none of the principal amount of the loanwhen the plan ends you may have to pay the entire balance owed, all at once. You must be prepared to make this balloon payment by refinancing it with the lender, by obtaining a loan from another lender, or by some other means. If you are unable to make the balloon payment, you could lose your home. If your plan has a variable interest rate, your monthly payments may change. Assume, for example, that you borrow $10,000 under a plan that calls for interest-only payments. At a 10 percent interest rate, your monthly payments would be $83. If the rate rises over time to 15 percent, your monthly payments will increase to $125. Similarly, if you are making payments that cover interest plus some portion of the principal, your monthly payments may increase, unless your agreement calls for keeping payments the same throughout the plan period. If you sell your home, you will probably be required to pay off your home equity line in full immediately. If you are likely to sell your home in the near future, consider whether it makes sense to pay the up-front costs of setting up a line of credit. Also keep in mind that renting your home may be prohibited under the terms of your agreement. Lines of credit vs. traditional second morgage loans If you are thinking about a home equity line of credit, you might also want to consider a traditional second mortgage loan. A second mortgage provides you with a fixed amount of money repayable over a fixed period. In most cases the payment schedule calls for equal payments that will pay off the entire loan within the loan period. You might consider a second mortgage instead of a home equity line if, for example, you need a set amount for a specific purpose, such as an addition to your home. In deciding which type of loan best suits your needs, consider the costs under the two alternatives. Look at both the APR and other charges. Do not, however, simply compare the APRs, because the APRs on the two types of loans are figured differently: The APR for a traditional second mortgage loan takes into account the interest rate charged plus points and other finance charges. The APR for a home equity line of credit is based on the periodic interest rate alone. It does not include points or other charges. Disclosures from lenders The federal Truth in Lending Act requires lenders to disclose the important terms and costs of their home equity plans, including the APR, miscellaneous charges, the payment terms, and information about any variable-rate feature. And in general, neither the lender nor anyone else may charge a fee until after you have received this information. You usually get these disclosures when you receive an application form, and you will get additional disclosures before the plan is opened. If any term (other than a variable-rate feature) changes before the plan is opened, the lender must return all fees if you decide not to enter into the plan because of the change. When you open a home equity line, the transaction puts your home at risk. If the home involved is your principal dwelling, the Truth in Lending Act gives you 3 days from the day the account was opened to cancel the credit line. This right allows you to change your mind for any reason. You simply inform the lender in writing within the 3-day period. The lender must then cancel its security interest in your home and return all feesincluding any application and appraisal feespaid to open the account. The information on this site is adapted from the brochure "What You Should Know about Home Equity Lines of Credit." Single or multiple copies of the brochure are available without charge. Order the brochure by telephone, mail, or fax . Order online . Glossary | Where to go for help | Checklist Home | Consumer information | Publications | Brochures Accessibility | Contact us Last update: March 1, 2004

Buy Property

Which? bookshop | Buying Property Abroad Skip main navigation | | Sitemap | Help | Contact us Home News About us Campaigns Press Magazines Bookshop Which? Online search box Book categories Food & drink Home & garden Legal advice Personal finance Property Magazines Subscriptions Gift subscriptions Placing an order Ordering online Ordering offline Delivery Safe shopping Bookshop Bookshop Bookshop Buying Property Abroad Jeremy Davies 10.99 (free postage & packaging) For recreation,retirement or investment, buying property abroad has never been morepopular, and over a million Britons now have homes in another country.Unfortunately, buying abroad is fraught with difficulties. Differentcultures, languages, currencies and laws make expert advice essential. BuyingProperty Abroad takes an in-depth look at France, Spain, Portugal,Italy and Florida, as well as considering emerging markets in theMediterranean, the Balkan States and Eastern Europe. The book: outlines the sort of property you are likely to encounter looks at local taxes and how much you'll have to pay examines local law and how this relates to matters such as inheritance, insurance, liability and land searches considers the true cost of holiday homes - including maintenance charges, utility bills and management fees looksat the financial and legal implications of long-term residency, withparticular reference to retirement, taxation and health care. BuyingProperty Abroad can help you realise the dream of owning somewhere inthe sun, while making sure it doesn't turn into a nightmare. Paperback 256pp | Accessibility | Terms & Conditions | Privacy | © Which 2005 Gift subscriptions Buy any Which? magazine subscription as a gift: - Which? magazine | - Computing Which? | - Gardening Which? | - Holiday Which? | Which? magazines Buy Which? magazine subscriptions and binders: Subscriptions | Gift subscriptions | Binders | | Try Which? Online free for 30 days and save £££s. Which? campaigns Our food is killing us. Read how our food campaign is changing things.

Foreclosure Property

Investing in Pre-foreclosures and Foreclosed Property THE SOURCE FOR INFORMATION ON FORECLOSURE OUR MOST POPULAR PAGES Bank Foreclosures - REO Pre-Foreclosure Homes Foreclosure Help Foreclosures Discussion Real Estate Investing Sites FORECLOSURE ARTICLES Ready to Invest? Foreclosure Investing 101 Foreclosure Investing 111 Buying at Trustee's Sale Finding Foreclosures Determining Property Value Real Estate Foreclosures FORECLOSURE RESOURCES CA Foreclosure Time-Line Investment Tools Sources for Comps CA County Resources Real Estate Definitions INFORMATION & LINKS Foreclosure Industry Links Avoiding Foreclosure Scams Equity Buyout Scams Trustees and Posting Co.'s "How To" Information Curb Appeal Importance HOME MAIL Investing in Pre-foreclosures and Foreclosed Property Would you buy a house for $150,000 if you could buy the house next door in the same condition for $100,000? If you are a smart investor, I'm going to bet you wouldn't. If you are just beginning as an investor and need information, how are you going to get it and how much are you going to pay? THE SAME CONCEPT APPLIES! You can easily get a basic understanding of the stages of foreclosure, how to purchase property at each stage of the process and ways to obtain financing for your purchase for free or at a very nominal cost. Libraries, bookstores and many websites all offer free or low cost information. Obtain the basic information, read it once, then continue reading it until you KNOW all the material. Your success is not going to be handed to you, you have to become an authority on the investment approach you choose. The confidence and knowledge you will obtain are essential keys to success. No seminar or course costing hundreds or thousands of dollars will put the confidence and knowledge in your mind, YOU have to make the decision and effort to get it there. THERE ARE NO SHORTCUTS! Seminars Books and Courses Cash Investors Personal Counselors Recommendations Avoiding Scams Seminars An easy way to spend a lot of money. The personal motivation inspired by the speaker will always last long enough to provide you time to buy the books or courses. If you are truly motivated to become an investor, you don't need a seminar. On a positive note, if you are an active investor and have already bought a course to increase your knowledge, a seminar is one way to allow the author or presenter to expand on their printed material. TOP Books and Courses Available at Libraries, Bookstores and Websites. Balance the cost against the information presented. You can't really argue the benefits of a twenty dollar book against a seventy dollar book, both undoubtedly have good points and bad points. Try to find the most appropriate information for your situation at a reasonable price. Courses costing hundreds of dollars or more should not be purchased by a new investor. When you have the basics down solid and want additional information or specialized information, then consider additional courses. Remember, your success will not be determined by the size of your library, but by your motivation and knowledge. TOP Cash Investors Take our course, we'll back you up financially! Great sales pitch and I'm sure it would happen if the property could be purchased cheap enough, but anyone can find a cash investor. The hardest part is finding the property. You don't know any cash investors? Look in your local Yellow Pages under Real Estate Loans. Look for ads that say "All Credit" or "Any Credit", typically these are hard money lenders(cash lenders) who have investment money. Can't find any? Look in your local newspaper for real estate ads saying "We Buy Houses", these will often be cash investors. Still can't find any? Look in your local legal newspaper for Notices of Sale. A location will be listed where properties in foreclosure are going to be auctioned off. Go to the location at the time specified and talk to the investors who show up. These are investors used to dealing with properties in foreclosure, find out their requirements, get phone numbers and you are all set. TOP Personal Counselors Sign up with us and we'll provide one-on-one help for as long as you need it. Oh, I'm sure they have experienced investors just sitting around waiting for the phone to ring. There are newsgroups where you can have your questions answered, but your best source of help is going to be investment clubs. Clubs are comprised of local investors who will share information and resources with you. They will have a good grasp on area values and should be able to help you more than anyone else. Plus, if you haven't found a cash investor yet, this is a good place to find one or get referred to one. Look in the Yellow Pages under "Clubs","Associations","Real Estate" or various web sites have lists. TOP Recommendations Take a deep breath, relax and plan your success. You'll need information, resources and knowledge. Find a local investment club, ask where and when they meet, go to all the meetings, absorb everything you can and make contacts. Evaluate the books and information you have seen, pick a source and start reading. Follow the web site discussion groups, print articles that have resources or solid information and save them. Read all the articles you can find on different web pages, it will add to your knowledge. Consider completing a Real Estate Licensing Program Many established real estate companies provide subsidized Real Estate Licensing School. If you do not have a background in real estate, this is a fairly inexpensive way to get an education regarding the technical processes involved, what is necessary to sell a home plus all sorts of additional knowledge. Many companies charge a higher fee if you do not get your license and work for their company, so be sure to shop, an independent school might be cheaper. Look in the Yellow Pages under Real Estate Schools. Keep in mind that if you actually obtain your real estate license, you have different legal considerations than if you are unlicensed. Even if you don't actively sell property full-time, when licensed, you are considered a real estate professional. Go to Open Houses Every weekend houses are held open by Realtors. Go to all the open houses in your area every weekend. You'll learn what sells, what doesn't, what the price ranges are in different areas and start to build a knowledge base of property in your area. It takes gasoline and time, but it's the best way to get a feel for what values are in a given area. Build your Resource File Organize your information and file it. Individual properties will come and go, but six months from now, you don't want to find a property that suits a cash investor's requirements and discover that you cannot find the investor's phone number. Or you were supposed to check back with a property owner this week, but you can't find the paperwork and don't remember the address. The only way to keep track of everything is to have organized files that you use. Understand it doesn't happen overnight. Honestly, the first few times you try to put a transaction together, I would expect problems. It's part of the education process. As long as you don't make the same mistakes again, you'll only get better at what you do. Education is the first big hurdle, the second one is experience, and there's only one way to get that. To just do it. TOP When everything is looked at, MOTIVATION is the base for all of it. You have to be motivated to get the education, you have to be motivated to get the experience and you especially have to be motivated to keep on doing it through the times where nothing seems to be going right. ARE YOU MOTIVATED?

Denver real estate companies

Denver, Colorado Real Estate Companies DENVER REAL ESTATE COMPANIES "A gazillion links to Denver real estate companies" ColoradoLinks.Net More R. E. Companies Comments Denver real estate companies selling homes, land, and commercial property Automated Homefinder www.AutomatedHomefinder.com Search from over 30,000 homes for sale and receive updates of homes meeting your specific needs! Free service, no obligation. Buyer's Advantage 303-587-3509 ** Email Being an ordained minister, and serving in many volunteer capacities has taught Judith about listening to and understanding people's needs. If you need somebody you can trust, Judith is your realtor. Colorado Home Finder Denver Colorado Real Estate Denver real estate, MLS listings and Denver homes for sale at Colorado HomeFinder. Relocation, loans, and school info. Local Denver realtors and Denver real estate agents in the Denver County area. Colorado Home Store Still looking for the dream home in the Rockies? Search Golden MLS - Jefferson County MLS - Denver MLS. We use Google to index all residential, Colorado land, & Jefferson County commercial properties listed in the MLS. You can search for properties by Google keyword, or by city, price, type, etc . Denver Real Estate Solutions Search all homes for sale in Denver and surrounding suburbs. Also available, zero down loans, and online preapproval for Denver real estate loans. Kelce Enterprises 7500 E. Arapahoe Rd. # 100 Englewood, Colorado 303-783-3788 DenversFirstRealEstate.com- Marni Kelce / Kelce Enterprises, Inc. desires to make your sale and/or purchase of real estate a wonderful experience. We strive to make clients for life. Mercy Housing Mercy Housing is a national not-for-profit organization dedicated to creating and strengthening healthy communities. By developing, operating, and financing quality, affordable, service enriched housing, Mercy Housing changes the lives of individuals and families and revitalizes distressed neighborhoods. PorchLight Real Estate Group Complete Denver Colorado Real Estate source, homes, condominiums and much more. Professional Real Estate Websites at Discount Prices Real Estate Information and Directory of Professional Services. RealtySites.info offers full-featured web sites for home inspectors, appraisers and real estate professionals for only $300. NACHI members save even more! RealEstateColorado.Net Access homes for sale in Denvers MLS & 19 Colorado Counties. Relocation Info, Over 300+ Community Links, Video Tour of Denver, Master Planned Communities, Cities and Subdivision Information and more. Aggus Realty All Right Realty Aspen Gold Assist 2 Sell Benchmark Realty The Berkshire Group Buyer's Resource CEC Realty Century 21 / Dinkel and Associates Century 21 / Professionals Century 21 / Target Realty Cherry Creek Realtors S.E. Cliffdwellers Coldwell Banker Colorado Income Cunningham Advisors DB Realty Stars Denver Realty.com Denver Lofts Online.com Distinctive Properties DMCAR / DPD FIRE Incorporated Friedman Realty Fuller and Company Fuller Western Real Estate Gerretson Realty Grubb & Ellis Hottest Homes Dot Com HQ Homes Inverness Properties James Real Estate Services Kentwood City Properties The Kentwood Company Kois Real Estate L.C. Fulenwider E. Lucero and Company Metro Brokers, Inc. / Torke's & Company The Michael Dagner Group Mountain Plains Properties National 1031 Exchange Service Nostalgic Homes Perry & Company Porchlight Real Estate Group The Prestige Real Estate Group Restaurant Realty RE/MAX 100 RE/MAX Alliance ReMAX Horizons Group, Inc. RE/MAX of Cherry Creek RE/MAX Northwest Rocky Mountain Real Estate Group Rossiter & Associates Trenka Associates top Related pages: Vacation & short term rentals , K-12 schools , Home Improvement Colorado Links. Net -^-^-