In August 2007 HUD began allowing borrowers to get FHA adjustable loans based on the LIBOR index. Given the events of the past week a lot of FHA borrowers with LIBOR indexes may wonder about their choice. As Canada’s Financial Post reported last Tuesday “the London Interbank Offered Rate, or LIBOR, which is set by 16 banks, rose the most ever, jumping 431 basis points.” Translation: The rate for overnight loans among banks rose 4.31 percent in a day to 6.88 percent. That’s right — the rate... Read Full Story

If you are 62 or older and have been considering a reverse mortgage, the FHA and HUD just approved a new national limit of $417,000 for HECMs. The new limit is not set in stone yet as there are no set deadlines yet; but their target effective date is November 1st. There was some debate over this increase, and some interpretations of HR 3221 led some to argue that the limit could have been increased up to $625,000. However, after much debate, the final decision was a national limit set at $417... Read Full Story

With FHA stepping up to the plate recently, people are beginning to question whether they are ready to take on such a responsibility. In this current liquidity crisis, if you have less than a 20% down payment your options become quite limited. There aren’t many private investors willing to touch these loans, and Fannie and Freddie couldn’t even help you if they wanted to. That leaves many home owners with the only option of FHA loans and it is expected to be the growing trend as credit... Read Full Story

The use of plasma based treatment technology was recently introduced as an alternative to laser based skin treatments in cosmetic surgery facilities. Now, Peak Technologies, a Palo Alto base company, has introduced two plasma based surgical tools as a less intrusive alternative to the standard scalpel or to the electrosurgery devices. In both instances, ancillary damage to tissue and bleeding are reduced by the lower temperature at which plasma technology functions. In the surgical field... Read Full Story

HUD has released the general standards for the newly-minted “Hope for Homeowners” program created under the FHA reform bill passed by Congress during the summer. For those with an interest in FHA mortgages — and for those who now have toxic loans — the program has great potential, enough funding to underwrite 400,000 borrowers. That’s the good news. The bad news is this: To participate in the program your lender must be willing to write off part of the loan and pay money to Uncle Sam. You can... Read Full Story

You probably enjoy working on bikes or you wouldn’t have enrolled in a motorcycle technician training course. Chances are also good that you have your own machine and have tinkered on it for years, either repairing the engine and other parts or tweaking settings so it runs like a champ. But there’s a huge difference between working on your own bike and working for a repair shop. For one thing, you’ll have to fix things quickly and on deadline. And bikes have become more complicated, with... Read Full Story

Teaching English abroad is not only a great way to see the world, it’s a great opportunity to discover who you are. When you work in a foreign country, you learn how others see you and your country. You’ll also have a fantastic opportunity to learn new languages, study new cultures, see historical landmarks, and make new lifelong friends. However, it’s not always easy to melt into your new home while still developing lessons, navigating cultural differences or language barriers, and dealing... Read Full Story

I think every woman knows what you mean when you refer to the annoying, hard-to-get-rid-of “back fat.” Even some women who exercise and maintain a healthy diet have a hard time with getting those bulges to go away. But, not for long. A study published in the October issue of ASPS journal Plastic and Reconstructive Surgery reveals a new procedure designed to surgically remove those unsightly back fat rolls while hiding the scars beneath the bra line. “For many patients — even the very fit... Read Full Story

Denver plastic and reconstructive surgeon Dr. Richard O’Donnell not only received education in plastic surgery, but he also earned a degree in dentistry. He uses his unique training and skills to enhance his patient’s natural beauty, correct deformities, and alter unwanted flaws; giving his patient’s a boost in confidence. Dr. O’Donnell produces exceedingly aesthetic natural looking results. He offers a wide range of cosmetic, reconstructive surgeries, and maxillofacial procedures. From... Read Full Story

The news is filled with failing-bank stories just about every day, reason enough for me to write about two banks with ridiculously-low foreclosure rates: Hudson City Bancorp and ING Direct. (For the whole story, go to No Mortgage Meltdown For These Banks.) Hudson and ING prove that “everybody” didn’t offer option ARMs or qualify borrowers with stated-income loan applications. Instead, these two lenders — and no doubt others — stuck to their underwriting standards and as a result are not on... Read Full Story