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) Online Mortgage Portal Receives Spike in Refinance Applications after the Fed Cut Rates
LendingGateway.com receives hundreds of online enquires to get into a fixed rate despite the interest rate drop.San Diego, CA (PRWEB) September 28, 2007 -- Over the last week, after the Federal Reserve cut interest rates by 0.5 percentage points, LendingGateway.com received an increase in online enquires and phone calls about how this will affect the home loan market. Despite the Federal Reserve's intentions of alleviating the "sub-prime" home loan chaos through the rate cut mortgage rates continued to increase.
"The most common thing we see is people that have adjustable rate mortgages worried about their interest rate increasing and affecting their ability to meet their monthly loan payment," explains Scott Olson, COO at LendingGateway.com, "the best advice our loan consultants give is to look into re-financing their existing home loan from an ARM to a safer fixed rate."
In addition to an increase in online mortgage applications, LendingGateway.com, also saw a jump in several debt consolidation enquiries on their online form at https://apply.lendinggateway.com/forms/debt.php
"Although we advise consumers to get into a safer fixed rate not everyone qualifies," says Alexander Capio, Owner and CEO of LendingGateway.com. More>>
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) New agenda
From the looks of Jackson Hospital's 2008 business plan, it seems the light has been turned on.The business plan zeroes in on the disconnect that became apparent to the hospital's leadership after voters in August defeated the sales tax initiative meant to fund new construction.
The way management sees it, residents don't understand how the hospital is funded and what its financial challenges are, and don't see the hospital as able to provide care as good as larger medical facilities.
Management says the disconnect was there before the tax proposal came to a vote, but the vote brought it forward. And the hospital needs to rearrange how residents view the public non-profit hospital in Marianna.
If it is going to offset its bad-debt cost, it must increase its good payor mix and that means forging ahead. More>>
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) Lifetime mortgages can boost income for pensioners
EACH time that the stock market gets the shakes, the wellbeing of pension funds comes under scrutiny. Those who are members of occupational defined benefit schemes worry that there may not be enough money in the kitty to pay out the expected sum when retirement comes, or that their pension scheme might collapse altogether.
Those in defined contribution pension schemes, whether an occupational or personal pension plan, are concerned about the growth rate of their pension fund during its life, and the purchasing power of the lump sum available when pension age is reached.
Anybody now close to pension age will be particularly concerned with recent developments that could impact on their pensions. But many people in this category now find themselves sitting on, or more precisely, sitting in, a very valuable asset - their home!
An option for retired people who own their own home is to look at an equity release scheme. More>>
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) Nominees envision a better, costlier SUNY
The State University New York's future includes moderate, but regular increases in tuition, more cost for taxpayers, and perhaps fewer but significantly better colleges and universities, according to the vision of two men nominated to lead system.
The state Senate heard Wednesday from Carl Hayden and H. Carl McCall, Gov. Eliot Spitzer's nominees to the SUNY Board of Trustees. Hayden, the former state Regent and schools chancellor who oversaw bolstered standards and testing in public schools, is nominated to be chairman of the 16-member board.
"I think what's been missing is an aspirational standard," the Elmira attorney told the Senate Higher Education Committee. "I believe in uniform, high expectations."
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