Bad times for houseowners by Jana Kokavcova

These days in America is better to be a homeless, because you are used to have nothing, used to sleep in cold and used to have not your own home. Someone who has his own house in America is now really unhappy. Because of crises on the market and some problems that have bigger banks and employers to pay you your month salary. So prices for living are higher and your salary lower. Pretty idea, don't you think so? No, it is awful, because ordinary people must be afraid of their living, houses, families. They do all what they have to, but results are bad and worse every day. Since 1986 there were not such big crises on the market in America. People's destinies are in danger because of that. It is not possible to have not enough money to live in your own house. It is crazy situation. I hear about a lot of people who are moving from America to another country because of this situation. It is funny, because America is in Europe presented as a country of boundless possibilities and many of students from East Europe come here and work here are study because of feeling of freedom and free mind. I really don't know who is the propagator of all these meanings about America, but nothing is as pretty as it seems to be. Hurray to America, or out of America? We can not say it today. A lot of big countries had a lot of big crises, but every one of them was able to change it and stay "alive". In America are these crises not at first time, so we should hope America will solve these problems soon.

related story: http://news.yahoo.com/s/ap/20071206/ap_on_bi_ge/home_foreclosures;_ylt=An3da8kVTajtXMzNICxnbAKs0NUE

by Jana Kokavcova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

American Housing Market by Ludmila Martinicka

The weak housing market could shake the country into an economical recession. Some forecasters say, the housing crisis will probably continue till early 2008, others are convinced, that the situation will continue till summer. What everybody agrees on is, that the situation seems to be worst since the World War II. The prices of houses will probably decrease about 13 percent in early 2008. What is a good new for those, who would like to buy a house, but bad for the sellers and seems to be bad for the economy as well. During 2004 & 2005 contributed almost a percentage point to annual real gross domestic product growth. It seems, that this problem have spread to Europe and Australia too and now it influence the financial market worldwide. Due to this situation, people are in the dangetr to loose their homes. Housing markets will probably, according to the Moody's Economy.com report, crash and suffer price drops of more than 30 percent before the housing crisis is over. The report also said, that it will influence the economy, but it won't be so strong to break it down. By Feldstein, specialist in the economical area, that United States faces now three challenges, that are: declining home prices; the subprime mortgage crisis; and weakening home equity withdrawal and refinancing. Other specialist stated, that it is not possible to rescue investors from the losses. Feldstein acknowledged that policy-makers faced a dilemma: cut rates and face higher inflation later, or fail to move and fail to avert recession. Doesn't matter what are the speculations, important is to have a roof above your head.

related story: http://news.yahoo.com/s/nm/20071206/bs_nm/usa_economy_housing_dc;_ylt=ApPJCpwvBswNHzL4Z5GSjQ.s0NUE

by Ludmila Martinicka for PocketNews (http://pocketnews.tv)

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America wants to help homeowners in need by Ivana Bruderova

In these days president Geoge Bush and the White house came with idea how to help people who became a victim of unfair mortgages and are endangered they will be left out. In state Iowa situation seems to be very serious. Many people took a mortgage with and adjustable rate and when the rates started to rise they weren't able to pay any more. Now the state want to help them. The government would allow borrowers whose rates are rising too fast to refinance the loan or to have frozen his current rates for five years. Although at the first sight this idea seemes to be very heplfull, this plan is still being critised by people from real estate industry. They claim this plan came to late, bacause many of the houses have been already foreclosed. „It's not a government problem'" said Gene Kaberline, Republican, who moved to Iowa. Other critising, this program helps only those whose rates will begin rising after January 1. and will not be able to help people who are just behind their payments. „A lot of people will benefit from this plan, but it won't help everybody that needs help." said Maryanne Hernandez who live in Iowa with her husband and two children. Their neighbourhood is just full of foreclosed houses. Peter Morici, University of Maryland School of Business analyst said: „Freezing adjustable mortgages at teaser rates will only push the problem to the next president," People are frustrated with the fact that there is no solution and no help for those who have had toubles with adjustable rates for longer time. I've been making calls for months, I called here, I called there. No one knows how to help." says Maricela Vargas, Californian single mother. She believes there is lot of women like her, wro trusted people to do their paperwork, people that seems to be honest.

by Ivana Bruderova for PocketNews (http://pocketnews.tv)

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Mortgage crisis in USA spreads by Romana Schlesingerova

The mortgage trap in USA didn`t catch only banks, which lost several billions of dollars. The sudden overflow of the loan market, took down the majority of poor customers as well. What is more surprising is, that the American "trap" moped up some relatively solvent Americans, belonging to the middle class, according to Wall Street Journal. This daily newspaper thinks that banks will loose even more in next years, because of the people not being able to pay their mortgages. We are talking about hundreds thousands of loans. Bush`s administration together with the biggest financial institutions and capital corporations, came with the idea of freezing the interest rates for some types of loans. This, can probably, avoid the deeper sink of the mortgage market. One of the examples, showing the real impact of the crisis, is a case presented by the Californian lawyer Peter Fredman. His client`s monthly retirement income is 2500 dollars. The married couple`s mortgage payment is now over their budget. They have to pay 3400 dollars a month. Their last payment was in January. Broker`s advise about the "little" more expensive loan without the documentation is now the reason for waking up in the middle of the night. They expected the payment of 1500 dollars a month. Surprisingly big number of risky mortgage loans inside of the middle and upper class shows, where the crisis really stands. The responsibility for the problem is on bank`s and their broker`s shoulders. Many citizens with good credits say, that the brokers pushed them to more expensive loans, which where easier to arrange. People came to great sums without showing the proof of their incomes.

related story: http://news.yahoo.com/s/ap/20071203/ap_on_bi_ge/mortgage_crisis;_ylt=AuNtAbCkUWqmVo5l5f1rOPWs0NUE

by Romana Schlesingerova for PocketNews (http://pocketnews.tv)

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Take it, or don"t? by Zuzana Valkova

People were always complaining about money. Some of them didn't have any money, so they were upset about it; other people did have money, but had to pay big taxes. The same thing is happening now. People are always dissatisfied. But who do you think have a bigger problem? People with, or without money? I think people with money can not do much about their situation, only thing they can do is lie to government and pay less on taxes. But this is not very clever idea, because who wants to do something illegal? But what about people without any money? If their situation is only temporary, they can ask for a loan. Loan is a special, usually bank product. It can be used for many things. After some investigation, the bank can give them the amount of money, they asked for. After some time they have to give that money back, but with a loan interest, which can be sometimes very high. Or they can pay them back monthly, some arranged amount. But what happens, when they can not pay back, when is their situation not temporary? Then the bank is allowed to take your fortune, sell it and take the money from that. So they are in the same position like in the beginning or even worse. Other way how to ensure some money, is to ask family for a loan. But this doesn't have to be safe too. So be careful and work hard.

related story: http://news.yahoo.com/s/ap/20071205/ap_on_bi_ge/fannie_mae_capital;_ylt=AkQRKDwTeRCNjEWGsaOcd.us0NUE

by Zuzana Valkova for PocketNews (http://pocketnews.tv)

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Home in the house by Natalia Holvova

Real-estate situation in America is going through tough period. Mortgages are not paid properly and people are loosing their houses. Foreclosed houses are bought by all kinds of people who have any interest in fixing houses and selling them again with at least small profit. It the house fixing only about fixing walls, roofs and other parts of the house? How is the house becoming home? In some of the foreclosed houses new owners find object that remain in the house from former house-dwellers. These could be pictures, clothes, souvenirs and other stuff that remind us that real people used to live there. How do we make the place where we live our homes? What do we do to become a part of the house or to print the stamp of our touch into every single piece of the furniture? We need a home! House is not enough to make our lives full and rich. We need a place we can crash at, place that we can cry in, place we can enjoy happy moments in, place we know it is always there. When I come back home to my parents house I feel like home. This is not about the house, it is not about the furniture and pictures on the walls. This is about the feeling of the safeness, coziness, friendship, roots and memories. When I sit under my window and look on the street I know I am home, at the place I belong to. This is home. This is something no house fixing makes. This is the atmosphere we need to create and keep!

related story: http://news.yahoo.com/s/ap/20071202/ap_on_bi_ge/foreclosure_rehabbers;_ylt=Auf0v2A0hoeP6Z_wefzDSnas0NUE

by Natalia Holvova for PocketNews (http://pocketnews.tv)

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Crises : Housing by Jana Kokavcova

It is not so simple as it looks like to have a nice flat or house and live happily with your family in love and peace. It is really not so simple and easy to find adequate home for you, children, old people, businessmen ... Everyone needs home, something where he could come back after work, school. Everyone has its own needs how should it look like, how should it be. Maybe something it is not only the beauty of our living that what is important for us. We have different jobs and different payments. It is not only thing of decisions where we will live. Payment and jobs are the main reason why some people could not live in pretty houses. They are to expensive for them. Families with small earnings could only to envy rich people their hoses and villas. Why is living in a house so expensive? It still was. But this time something really horrible for ordinary people will happen. There are crises on the market and nobody knows how could prises rise. Prises of living in flats, houses...People will need more money, but their employers will not have any more money to give them. Because of crises. Situation is horrible in USA and maybe it will have some successions for another countries too. Who knows? How could we stop these events? How could we stop these problems? Is it the thing of government? Why is situation so hard for ordinary people? Is it hard only for them? There are lot of questions, but no one who could answer them.

related story: http://news.yahoo.com/s/ap/20071202/ap_on_bi_ge/subprime_bailout;_ylt=AqbP.GIdj4GfS4bxJEzP5NKs0NUE

by Jana Kokavcova for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.