Countrywide CEO sees recession ahead Notme

Chief Executive of Countrywide Financial Corp, Angelo Mozilo said that U.S largest mortgage lender will survive, but the housing downturn will lead the country to recession. When Mozilo was asked about recession, he said: "I think so ... I know I've been proven wrong so far, but I can't believe that when you're having a level of delinquencies, foreclosures - equity has disappeared, equity is gone, the tide has gone out - that this doesn't have a material effect, A, on the psyches of the American people, and eventually on their wallet."Bank of America Corp. invested $2 billion in Countrywide to help shoring up their finances, but Mozilo says Countrywide would not be sold to U.S second largest bank.He called the investment a "vote of confidence" and a "priceless endorsement."Mozilo said that the Federal Reserve should reduce even more its rates so it should be the same as the federal funds rate, now 5.25 percent.Phil Orlando, chief equity market strategist at Federated Investors in New York said: ""The Fed has cut the discount rate and added liquidity to the markets but those things aren't enough to turn the fundamental market around." According to him the funds rate should be cut to 4.25 percent by year end.In an interview, Countrywide CEO accused Merrill Lynch & Co. analyst Kenneth Bruce of "irresponsible behavior" because he said on August 15th that Countrywide might face a possible bankruptcy if market conditions worsen. Merrill Lynch spokeswoman Carrie Gray declined to comment on this.

related story: http://news.yahoo.com/s/nm/20070823/bs_nm/countrywide_interview_dc;_ylt=Ahu_8rOK2LE29570JGkcJvKs0NUE

by Notme dfsfs for PocketNews (http://pocketnews.tv)

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Home sales hit slowest pace in 5 years Notme

Lawrence Yun, chief executive at NAR released a press release saying that July home sales were down 9% from July 2006. "Home sales probably would be raising in the absence of the mortgage liquidity issues of the past two months," Yun said.This is the worst decay in 16 years of housing, and analyst think there's many to come. According to the National Association of Realtors the sales of existing homes dipped by 0.2 percent in July, compared to June, to a seasonally adjusted annual rate of 5.75 million units.Ethan S. Harris, chief economist at Lehman Brothers Holdings in New York said "We are very likely to see home sales continue to drop. There's a big imbalance between supply and demand, with lots of people who want to sell and lots of hesitant buyers."The number of unsold homes now rose to by 5.1 percent to a record level of 4.59 million homes, analyst saying that it would take 9.2 months to exhaust the number of single-family homes on the market, and 11.9 months to exhaust the level of condominiums on the market."We are literally swimming in an ocean of homes for sale," said Mike Larson, a real estate analyst with Weiss Research Inc. "Until we work through this extremely large inventory glut, we're not going to see any momentum in home prices."

related story: http://news.yahoo.com/s/ap/20070827/ap_on_bi_go_ec_fi/economy;_ylt=AnJkI1fFJaC_cpvPIQ_ZHl2s0NUE

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How to live your dream?

When people need money to build or buy something but they don't have it, they have some possibilities how to get it. They can take mortgage which allows people to borrow money. Then people can find their dream house, flat or something. It could be problem as well but today it isn't.Housing market is quite popular today, because people want to live in comfortable dream house. Of course to live in house is expensive as well. We would like to see decreasing home prices but the fact is that people don't have enough money and they have to borrow it. But very often there is situation in which they owe more on their homes than they are worth and it could cause troubles. Our technology makes possible that we can find some estate which we are looking for, from our comfort of house. How? We can do it by Real-estate live. Thanks to it you can live your dream and its using isn't so difficult. Everything what you need is computer and to be on line on Internet. Then you have to find some good real estate where you have to write details for example, the region and location which you want, minimum and maximum of price, number of bedrooms and bathrooms and so on. There are also some pictures. You have plenty of time to decide and you can see more by this way.The fact is that although the housing market is popular, years 2008 and 2009 are not going to be very profitable. Mortgage collapse and rates are going the wrong way and many on Wall Street believe the market won't stabilize until it can do it the shoulders of a real estate recovery. This way of buiyng estate could increase people's interest in it.

related story: http://www.cnbc.com/id/23235590

by Lenka Lehenova for SigEx Telecom (http://sigex.com)

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Posted by: Jana Kalicka

Invest in Real Estate by Katarina Bosanska

Are you thinking about investing in real estate? Hurry up! According to the latest research in real estate industry in Sri Lanka the prices of real estates are expected to rocket by about 100% in the next period. So buying an apartment or a house appears as a very good investment. There is almost no posibbility to lose because the investigation says that there has been an increase in the prices of steel and other materials neccessary for building-up and also a slight rise in transportation and labour costs, service connections and overheads as well. "Real estate has been proven to be one of the best investments in this country for over two decades and land prices are known to escalate no matter what" Gunatilleke said. However there has been some misconception amongst the property developers and investors abot the price setting, they have thought that it would come up. Therefore in not very good economic conditions in Sri Lanka people rather think about well if to buy a property and if to invest in real estate or not. Another negative fact that has recently discouraged them from this kind of business has been the enforcement of a 5% tax of the total construction costs. "Recently however some developers have been unable to meet their payments to contractors as they are unable to sell their apartments, while some developers have been forced to stop construction mid way. Buyers are expecting real estate prices to come down, this is not going to happen, they will only escalate," he said.

related story: http://www.dailynews.lk/2008/02/21/bus01.asp

by Katarina Bosanska for SigEx Telecom (http://sigex.com)

SigEx Telecom is quickly becoming the leading telebroadcasting communications provider allowing people to easily talk, view, upload and share video clips through free online TV broadcasting, free unlimited global calls, websites, blogs, video-mails and SMS. SigEx Telecom captures many add-on services for its clients generating royalties and fees in a broad spectrum of marketing services including public relations and promotions.

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Posted by: Jana Kalicka

Housing market by Lenka Lehenova

Everybody wants to have nice life with everything what he needs and wants. To find love for all life, to get married and then maybe to have children. Of course, if you want it you have to be ready for it. It means to have a job and earn money. Then you can buy a car and a house. Flat or house? Today a lot of people want to live in house. It is more comfortable but also more expensive. That is the reason why plenty of people have to borrow some money to buy or build it. To take mortgage is one of the opportunities which they have in case that they don't have enough money for it but there are also a lot of disadvantages.Although a lot of people want to own a house or flat, the fact is that housing market in USA is still decreasing. We all know that American economy is in depression and it influences many things. This is one of them. Sometimes people borrow more money than they are able to pay for it. There were about 40 000 foreclosures in 2007, which is more than the record set in 2006. The total is up 190 percent since 2003.Analysts, economists and government try to change the situation. Congress wants to help them as well and this week it will examine another round of possible repairs for consumers and investors who are threatened by this situation in the housing market.Lawmakers and all in the housing market expect that the proposals will face resistance and it will help to stimulate economic.

by Lenka Lehenova for PocketNews (http://pocketnews.tv)

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Chris Cantell Discusses Real-Estate: Loan documents go less by Claudia Sonea

Breaking news, the cause of subprime crisis is complex documentation. Well, maybe I tend to exaggerate, but according to many experts U.S. borrowers have too many papers to read making them to not quite understand what kind of loan they really get and that is why many people now lose their homes as adjustable rate mortgages rise. The Federal Trade Commission made a research and half of the borrowers it surveyed could not identify their loan amount in mortgage papers, while one-third could not identify their interest rate; two-thirds did not know if their mortgages had prepayment penalties, a feature which can make refinancing impossible. Luke Froeb, a former director of the U.S. Federal Trade Commission's Bureau of Economics, states that given borrowers more information proved to be a bad idea in the last years, because the additional data and legalese has turned the forms into perhaps a dozen pages of fine print. The plan is to determine home mortgage lenders to prepare a short, summary of each loan so consumers actually know what they are signing.Thus the FTC tested simplified versions of the documents with the longest of three pages by interviewing people and it made a big difference (the number of questions answered correctly rose to 80 percent from 61). Furthermore, mortgage brokers (helped kill a 2002 proposal by the Department of Housing and Urban Development to expand mortgage disclosures) expressed their support for the redesign. Marc Savitt, president-elect of the National Association of Mortgage Brokers, said that all disclosing forms should be standardized for the borrowers to understand easier what they sign. The form that the Federal Reserve, Treasury Department, Federal Deposit Insurance Corp and other banking regulators have proposed is made of two pages that summarize monthly payment terms of an adjustable rate mortgage and also include brief descriptions of loan terms such as prepayment penalties, balloon payments and taxes and insurance. Rick Farr, partial owner of United Capital Mortgage Assistance, sustains that in many cases, when lawyers, real estate agents, buyers and sellers gather to close on a sale, the terms of the loan are such that make impossible to be understand by borrowers. Sen. Charles Schumer sponsored a 1988 credit card law requiring simpler disclosures on credit cards and he told Reuters that he signed 25 years ago the loan through his banker. Now as a member of the Senate Banking Committee, he has a bill pending that would require lenders to give borrowers a one-page table with information such as the monthly payment and the interest rate. Still Republican Sen. Charles Grassley, of Iowa, thinks that mortgage documents can be made simpler without legislation. In an attempt to solve the mortgage market crisis they are trying to make easier to understand disclosures, if that will work we cannot now yet, but don't go away, you will find pretty soon.

related story: http://news.yahoo.com/s/nm/20080225/en_nm/oscars_cotillard_dc;_ylt=At9Yrp3XiYef1eHgVi._oiqs0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Housing market goes down by Zuzana Zelenakova

US Housing market experiences yet further decline as sales of existing houses are on their way down. This is the slowest sales pace on record. In addition, house prices are going down too as a great number of unsold houses exits on the market. Realtors don't have many reasons to cheer up because analysts predict that current tendency will persist even in the months to come. "With sales weak and inventories at extraordinary high levels, prices are likely to fall a lot more," said Joel Naroff, chief economist at Naroff Economic Advisors. "Eventually, sellers will end their denial and realize that if they want to unload their homes, they will have to cut prices even more." The National Association of Realtors informed on Monday that sales of family houses and appartments fell by 0.4 percent last month with number of 4.89 units sold per year. The average price of a house sold in January was $201.100 which represent 4.6 percent decline as compared to the previous year. Analysts further claim that on of the reasons for the current situation might be also the rising number of mortgage foreclosures which brings to the market more and more unsold houses. The situation on the housing market has been getting worse for the past two years as a result of financial institutions making their lending conditions more severe. It was their reaction to their immense losses on mortgages that have gone into default. "There is no end in sight for the housing disaster," said Ian Shepherdson working for High Frequency Economics.

related story: http://news.yahoo.com/s/ap/20080225/ap_on_bi_ge/economy;_ylt=AsQaVnLOd24gj.14WmgycEGs0NUE

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

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Too slow pace by Claudia Sonea

On Monday the National Association of Realtors reported that sales of existing homes fell for the sixth straight month in January. Single-family homes and condominiums dropped by 0.4 percent last month to an annual rate of 4.89 million units- the slowest sales pace on record, while median home prices were also down. The forecast for the months ahead shows further price declines due to high levels of unsold homes. For a home sold in January the median price was $201,100, a drop of 4.6 percent from a year ago and according to analysts the inventory of unsold homes show it will take 10.3 months to sell the 4.19 million homes on the market at this sales pace. By comparison with December it grew 0.6 percent and taking into account that sales are weak (in all parts of the country in January except the Midwest, where sales posted an increase of 3.4 percent. Sales dropped by 3.6 percent in the Northeast, 2.1 percent in the West and 0.5 percent in the South), inventories at high levels the prices are bound to fall, says Joel Naroff, chief economist at Naroff Economic Advisors. Analysts blame it on the tide of mortgage foreclosures that is pushing even more unsold homes back on the market already crowded. In 2007 sales of existing homes fell by 12.7 recording the biggest decline in 25 years. Moreover, the prices are down 20 percent from their all-time record in 2005, the final year of a five-year housing boom that saw sales and prices reaching record levels. The severe credit crunch was created by financial institutions tightening their lending standards in reaction to their multibillion-dollar losses on mortgages that have gone into default, recounts Michael Gregory, an economist at BMO Capital Markets. Patrick Newport, an economist at Global Insight, revealed that condo prices rose more sharply than single-family home prices from 2000 to 2006 but have fallen less in the current downturn, but buyers won't jump in until condo prices drop more. Politics like always stepped in and Sen. Charles Schumer, D-N.Y., pointed out that Congress and the administration should see that more needs to be done to help the distressed housing market. Lawrence Yun, chief economist for the Realtors, said the housing sections of the $168 billion economic stimulus bill passed earlier this month, raising the caps of the size of loans that can be backed by Fannie Mae and Freddie Mac and the Federal Housing Administration, an increase expected to provide help in high-cost areas of the country such as California. However most of the analysts are still quite pessimistic and expect for the housing until late this year or possibly early 2009. Stay connected and find more.

related story: http://news.yahoo.com/s/ap/20080225/ap_on_bi_ge/economy;_ylt=AjWG8uOqdoP6BFAs8x.l9r2s0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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On the way to a new home by Livia Necasova

USA really is a dream country. Not always, but sometimes. At least if you wanna buy a house and don`t be encumbered with debts for the rest of your life, now it`s your chance.The real estate prices there are falling down by every single day. Some real estate agencies are selling the houses for discount prices and offering upgrades at the same time.. If that isn`t great. Well it`s not that great for the US-economy.The prices of real estates are rapidly sinking and the economy is facing a recession.The value of a house is not the same anymore, compared to the last year. Which means that if you have bought a house back in 2007 for lets say, 300.000 dollars, and you want to sell it now for 320.000, you can forget about that. You need to lower the price back on 300.000 or go even beneath that, so you can withstand with the competing agencies. Otherwise you won`t sell anything. Nobody is gonna buy your house for 300.000 if some estate agent offers him a house 20 metres away from your house for 270.000.That`s called business. Even if yours is looking more prettier.Well,while the US real estates prices are sinking, the prices here in Europe are climbing up high to some astronomic numbers.300.000 dollars is approximately 200.000 euros. For 300.000 dollars you can buy a big house with garden, but for 200.000 euros you can hardly afford a house. You can buy a condominium but not a house.So for everybody who is interested to move to the US or just wants to have another house somewhere ,buy a ticket and go for it before they start rising again.

related story: http://news.yahoo.com/s/ap/20080226/ap_on_bi_ge/home_prices;_ylt=AvPKqSdraNZDmiPvrmnDS9Gs0NUE

by Livia Necasova for PocketNews (http://pocketnews.tv)

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The housing industry lacerates furthermore by Lenka Filipova

There are bad and not pleasant-to-hear news concerning the drop in sales of new houses. The sales have been on the decrease for three months, which resulted in the most extreme slowest pace within 13 years. The median price of a new commodity has slumped to the lowest point in three years. The reports showed that the sales decreased by 2.8 % previous month and that the median price lowered by 4.3 % from the December, that actually is only $216,000.Due to the fact that mortgage foreclosures are contributing to already over-saturated market, analysts are really skeptic about the improvements in the housing activity. In addition to this, the rate of sales is extremely slow, resulting in the increased time to exhaust the existing inventory to 9.9 months. Thus, the economists are forecasting more price drops in the following months.However, the financial markets have been announced by loan regulators Fannie Mae and Freddie Mac, who are the major financial contributors for U.S. home loans, that they will shift up the mortgages ceiling to make people more possible to pay their loans.Ian Shepherdson, who is a chief of private forecast firm High Frequency Economics, told he felt no doubt that the market housing was suffering a catastrophic collapse and that there was no sign yet that a bottom should have been reached in short time.All in all, the analysts are expecting the recession in this quarter, nevertheless the downturn is anticipated to be slow and calm. This is a consequence of the interest rate cuts by the Federal Reserve and by the financial support of $168 billion given by Congress.

by Lenka Filipova for PocketNews (http://pocketnews.tv)

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Fannie Mae Declares $3.6 Billion Loss in the Fourth Quarter of 2007! by Milota Sidorova

Just after the government allowed Fannie Mae, the largest buyer and backer of U.S. home loans along with Freddie Mac, its chief rival to expand in the vibrant mortgage market, another black bug has come out. Fannie Mae has released long expected annual fiscal report. Assumed loss forecast has become a true, maybe even worse. Loss of almost $3.6 billion in the fourth quarter of 2007 & that is a score of The Federal National Mortgage Association (FNMA) (NYSE:FNM), generally known as Fannie Mae, a government sponsored enterprise. No. 2 in housing market, Freddie Mac is expected to declare a loss of $1.5 billion next Thursday. Fannie Mae explains the constant decrease by mounting of home-loan deliquencies and lowering the interest rates. It' s not that long ago, since America had dated back the multi-billion accounting scandals at the government-sponsored companies ( GSC ) and yet another rescue promise has shined up. The Office of Federal Housing Enterprise Oversight cheered failling mortgage giants with a promise to remove the combined $1.5 trillion cap on Fannie's and Freddie's mortgage holdings. The announcment should be officialy confirmed right in a few days, on March 1.Reporting more than double loss comparing to 3Q 2007, Daniel Mudd, the president and CEO of Fannie Mae declared: "The housing conditions are serious and they've gotten worse." During the conference with analysts he slated difficulties for following year 2008. Analysing the situation, let' s resume the possibilities. If market condtions maintain or even worse, the company will be forced to raise new capital. This can achieve by selling off deposit investements, providing another sale of special stock or dropping even eliminating its dividend.In an efffort to maintain the companies ability to operate, government claimed to keep 30 per cent more capital in reserve, that is by the way, the minimal legal requirement. Fannie and Freddie will have to raise its capital, by the most possibily, cutting dividends. "The question becomes do they have the capital to maintain a larger portfolio?" quoted Bert Ely, a banking consultant based in Alexandria, Va.Dancing on the edge of the knife, Fannie will have to accept the government' s obligation. Following Mudd' s speech, reestablishing the capital, will be the most important aim of the company.

related story: http://news.yahoo.com/s/ap/20080227/ap_on_bi_ge/earns_fannie_mae;_ylt=Al3kbcBlZI.1BzQ9YB6FtaWs0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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Problem with declining prices of homes by Jana Passova

According to the Fed, the Federal Reserve System, Americans' percentage of equity in their homes is bellow 50 percent. In the second quarter of 2007, the percentage was even lower only about 49.6 percent and in the last quarter, it was only about 47.9 percent. That is only a runover of a progress that has started since 1945 when dept of houses began exceeding equity of them. It is a year when the Fed started tracking the data. According to the Mody's Economy.com, there will be around 8.8 million of homeowners, it is 10.3 percent of homes, who will have zero or negative equity, at the end of the month. There is a risky situation for 13.8 million of American households that will be completely upside-down if prices fall 20 percent from present value. Case-Shiller index of home prices in the United States decreased 8.9 percent in comparison to the previous year. This was the deepest decline in history of the index. Case-Shiller index belongs to Standard and Poor's. The Mortgage Bankers Association thinks that an all-time high prize which was here in the last quarter of 2007 was caused by home foreclosures. There was 0.83 percent of all mortgages that get into foreclosure. It is expected that number of foreclosures will rise until homeowners will struggle with adjusting rates of mortgages. These can caused that monthly payments will become unaffordable to pay. There is also another category of homeowners. They are called "mortgage walkers", people who have no problems to pay for their mortgages, but they do not want to do it. This causes an increase of home disvalue as well.

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

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Problem with declining prices of homes by Jana Passova

According to the Fed, the Federal Reserve System, Americans' percentage of equity in their homes is bellow 50 percent. In the second quarter of 2007, the percentage was even lower only about 49.6 percent and in the last quarter, it was only about 47.9 percent. That is only a runover of a progress that has started since 1945 when dept of houses began exceeding equity of them. It is a year when the Fed started tracking the data. According to the Mody's Economy.com, there will be around 8.8 million of homeowners, it is 10.3 percent of homes, who will have zero or negative equity, at the end of the month. There is a risky situation for 13.8 million of American households that will be completely upside-down if prices fall 20 percent from present value. Case-Shiller index of home prices in the United States decreased 8.9 percent in comparison to the previous year. This was the deepest decline in history of the index. Case-Shiller index belongs to Standard and Poor's. The Mortgage Bankers Association thinks that an all-time high prize which was here in the last quarter of 2007 was caused by home foreclosures. There was 0.83 percent of all mortgages that get into foreclosure. It is expected that number of foreclosures will rise until homeowners will struggle with adjusting rates of mortgages. These can caused that monthly payments will become unaffordable to pay. There is also another category of homeowners. They are called "mortgage walkers", people who have no problems to pay for their mortgages, but they do not want to do it. This causes an increase of home disvalue as well.

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

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Real estate show on fire by Claudia Sonea

HGTV, Fine Living, Discovery Home, A&E and TLC are just some of the networks broadcasting real estate shows. If you are tired of seeing the old sign "For Sale'' that is spread all over the town (and not only) and hearing on TV how bad the market is right now, then switch the channel and watch!a real estate show. For fun, for future investment or just to get some new tips on how you could improve your house and make it more appealing. It doesn't cost you a thing to dream, after all that is why you pay the cable every month. When everything goes bad, all that remains is hoping and entertaining. Therefore for most US residents house flipping, home renovation programs are very attractive. For example Jim Samples, HGTV president, says that life still goes on and people feel the need to nest as their families increase, they change their jobs, and so on and so forth. HGTV is preparing itself with new real estate shows like "House Hunters," "My First Place," "Hidden Potential," "Buy Me" and "Design to Sell" and on 29 February they did a special day with the theme of investing in a first house. It is clearly that after being built on shows on crafts and landscaping, now HGTV has as main objective: the house. Another broadcaster is A&E Network with "Flip This House" that is different from TLC's show and will premier Saturday night, "Date My House" that allows potential buyers to spend a night in a home for sale and that is presented by "Bachelor" Bob Guiney. Its rival TLC which introduced this with "Trading Spaces" announced that "Flip That House" will renew with teams in Atlanta and Los Angeles joining "flippers" from San Antonio and New Haven for its fourth season. Also Brant Pinvidic, TLC's senior vice president of programming said the show will focus more on the economy and will tell the truth about each investor and his/hers results, because their plan is to help people in making their houses appealing and livable, more valuable. The market's situation made people interested in what they have and how they can do the most of it, nevertheless Robert Sharenow, senior vice president for alternative programming at A&E, thinks that these shows might induce a false sense of security. But the good ones might also help to increase the values of houses with home made projects. Until now "House Hunters" by having almost a million viewers per episode seems to offer people just what they need and "Flip This House" with 802,000 viewers per episode has the same status. Who cares why people watch them, when there is so much trouble in US economy, let them dream and relax however they please, it cannot harm them.

related story: http://news.yahoo.com/s/ap/20080309/ap_en_tv/ap_on_tv_flipping_houses;_ylt=AoA.e.1OxtBOwhwcVhneQyms0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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Foreclosures on bid by Claudia Sonea

In the third quarter many US homeowners forced themselves to pay their mortgages, but according to a mortgage data company statement on Thursday the number of foreclosures doubled. One foreclosure filing for every 196 households in the nation represents the largest year-over-year increase in the history, 33.9 percent higher than the second quarter figures. Due to the fact that many people could not afford to pay their mortgages, especially in Massachusetts, Michigan, Ohio, Colorado, Arizona, Georgia, Indiana and Texas, there were many foreclosures filling like notices of default, auction sale notices or bank repossessions. A total of 635,159 filings was reported in the third quarter and RealtyTrac CEO James J. Saccacio that since the company began issuing foreclosure filing reports August and September accounted for the highest monthly totals. But it comes as no surprise due to the continuing weakness in home sales. Mortgage lenders are facing difficulties especially because the interest rates have increased and they receive a lot of defaults. Initially the loan was attractive because the interest rates kept a low monthly payment. Now they are stuck, they don't afford to pay their monthly payment, not to sell their houses due to home sales in decline and prices down or flat in many regions. According to RealtyTrac Nevada, California and Florida had the highest foreclosure rates. The market is very unstable and the housing slump has negative effects on the economy and people's wealth. Fed's decision to increase interest rates was benefic for investors, still for common people who have mortgages to pay, it proved to be lethal. Will there be changes soon? Stay connected and wired to the latest news.

related story: http://news.yahoo.com/s/ap/20071101/ap_on_bi_ge/foreclosure_rates;_ylt=AmUK_sVv.Wmo5gbyXBvrY2.s0NUE

by Claudia Sonea 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Iveta Nagyova

Mortgage rejection rates higher in 2006 by Notme dfsfs

In a new Federal report it is showed that companies that lend money continue to charge black and Hispanic homebuyers higher interest rates more often than white buyers.In 2006 almost 53 percent of blacks received high interest rates on mortgage loans, 46 percent Hispanics compared to only 18% of whites.They also found that the denial rate for rate for all home loans was 29 percent last year, up from 27 percent in 2005."The incidence of higher-priced lending for blacks and Hispanic white borrowers is notably greater than for non-Hispanic whites," the Federals Reserve said in the report. "Similar patterns are shown in racial and ethnic differences in denial rates."In the analysis Federals said that minorities like Hispanics or blacks were far more likely than whites to be denied outright when they applied for mortgage loans."Irresponsible lending practices have placed working families, minorities and more recently an increasing number of middle-income borrowers at risk of losing their homes," said John Taylor, president of the National Community Reinvestment Coalition.Surging foreclosures and the delinquency rates on subprime mortgages will hurt more the Hispanics and black people according to consumers advocates.The report showed that the areas with most delinquency rate are in the Midwest: Ohio, Indiana and Michigan, the south Atlantic region, the Gulf Coast and portions of Texas, Oklahoma and Colorado.

related story: http://news.yahoo.com/s/ap/20070912/ap_on_bi_ge/mortgage_discrimination;_ylt=AljRY9u.GVZFgynf6tA4AU6s0NUE

by Notme dfsfs 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

edited by Barbora Matulova

Welcome to Stockton: foreclosure capital USA by Notme dfsfs

The city of Stockton, a town in central California, hold on title that it citizens wouldn't want it to have, the foreclosure capital of the nation, according to a study released by RealtyTrac, an online service that tracks foreclosure sales.Stockton has a population of nearly 300.000 people and it has one in 27 households foreclosing on a property and 8000 foreclosures until now."It's not the CEO of Intel who lives in Weston Ranch, but the guy who details his car," Geri Taylor, broker at Weston Ranch Realty for twelve years told AFP. "They just were not prepared for this."The spokesman for RealtyTrac says that foreclosures are common in areas where people wanted to take advantage of the hot real estate market but they couldn't afford it."They were on a very thin margin and anything affecting their monthly payment could push them into foreclosure very easily," he said.Gloria Johnson a broker from the Weston Ranch area modified her business practices to help homeowners to avoid foreclosure and wrecked credit."It is almost like begging, but I am doing everything I can to help these people maintain their dignity," she said.There are houses on the market from 2006 and still unsold and the average prices slipped with 10%. In Bay Area county in August a total of 7,299 new and resale houses and condos were sold, meaning 1.7 percent down from 7,423 in July and down 24.9 percent from 9,713 a year ago.

related story: http://news.yahoo.com/s/afp/20070913/ts_alt_afp/useconomyproperty;_ylt=Ak7nmBMW7SeXXMhuwv9u9v6s0NUE

by Notme dfsfs 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

edited by Barbora Matulova

Chris Cantell Discusses Real-Estate: Alam Greenspan book reveals all about the housing bubble by Nina Gotzmannova

Alan Greenspan, former Federal Reserve Board Chairman, has written a biography and begins to talk. Scheduled to be released on Monday, the inside look at the life of the second-longest serving chairman in the history of the Fed is the beginning of revealing some secrets.He admits he didn't see the danger of providing mortgages for people with questionable credit histories. The incapability of paying the mortgage and low interest rates combined with the demand of buying real estates has lead to a phenomenon known as housing bubble. Following decrease in home price let many home owners with a mortgage debt higher than the value of the home. Greenspan was criticized for this since 2001 until his retirement in 2006.In 2001 Fed cut the interest rates to their lowest level in decades. Fed probably kept the rates too low for a longer time than necessary and allowed people to uncontrolled behavior in the real estate market. In a CBS interview Greenspan acknowledges that he noticed the practices and the potential danger to economy only in late 2005.But the danger was real. In March 2007 the subprime mortgage industry collapsed and many of the lenders were bankrupted. In the same time the prices and the house sales fell dramatically. According to National Association of Realtors the sales fell down 13 percent and the prices 6 percent.However, in March 2007 was the Federal Reserve Board Chairman Ben Bernake. He had to deal with the financial crisis. By this time Alan Greenspan was retired and despite he is still considered as an influential economist, he can only say sorry now and maybe reveal more about the real estate market in his book.

related story: http://news.yahoo.com/s/ap/20070913/ap_on_bi_ge/greenspan_mortgages;_ylt=ArWjhUR4sUebA..RkSpstfSs0NUE

by Nina Gotzmannova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

edited by Barbora Matulova

US housing problems by Claudia Sonea

Apparently Wall Street concerns regarding house slumps are not without reason. Irvine, California.-based RealtyTrac Inc. revealed the number of foreclosure filings were up 115 percent from 113,300 last year in the same month, August. Also there is even a striking difference from one month to another, so from July to August the number jumped 36 percent, proving that more and more people are unable to make timely payments on their mortgages or sell their homes due to the national housing problem. Default notices, auction sale notices and bank repossessions were among the filings. According to RealtyTrac Chief Executive James J. Saccacio as a large number of subprime adjustable rate loans will reset and it will lead to a new wave of increased foreclosure activity. The main problem is subprime loans and adjustable rate mortgages, because in the beginning the rates were more than acceptable, but in time the banks increased them leaving the borrower without the possibility of paying. There are also figures that show that many of the houses end up back to the borrowers due to the fact that they are not picked up in the estate sales. In August the number of repossessions reached 42,789, the highest foreclosure rates in the country being registered in Nevada, California and Florida. Nevada reported one foreclosure filing for every 165 households, California one filing for every 224 households, while Florida had one foreclosure filing for every 243 households. The 10 states with the highest foreclosure rates were Georgia, Ohio, Michigan, Arizona, Colorado, Texas and Indiana. How will this influence the stock market and how will it be affected by the Fed decision? There is no good forecast for the next month for Wall Street. Stay connected and track to see where everything is heading.

related story: http://news.yahoo.com/s/ap/20070918/ap_on_bi_ge/foreclosure_rates;_ylt=AgQoMICw4XvXni7rrnpgIfms0NUE

by Claudia Sonea 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

edited by Barbora Matulova

Crisis in new-home market by Nina Gotzmannova

It seems like no one is interested in buying a new home in United States. This year is the worst year since 2000 for the house builders, house sellers and of course for U. S. economy. People have never bought less new homes like this year.In July people were more likely to buy a new home. But in August the numbers showed something else. Sales dropped more than 8%. According to Commerce Department there were only 795.000 houses sold in August. This is really a sorrowful record, because there have never been sold less houses since 2000. In comparison with several years in past the sales has dropped almost 21%. There is also a large gap in the prices. The median price of sold houses was in August $225.700. The price fell by 7.5%. It is the biggest drop in percentage terms in 37 years. The average sales price tumbled too, with 8% slightly more than the median price. A new house was bought in August for $292.000, which is the lowest price in almost two decades. But after all, there is at least some good news. The sales fell only in the South and in the West. In Northeast and Midwest people are still buying houses, and more than in July. This all is a sign of the subprime mortgage crisis and housing bubble, the economy crisis which began in United States in March this year. The crunch credit already showed the unpleasant results, now in a form of decreasing real-estate market.

related story: http://news.yahoo.com/s/ap/20070927/ap_on_bi_go_ec_fi/economy;_ylt=AkrUTHM6TiqH5WMtt8x14wSs0NUE

by Nina Gotzmannova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.


Posted by: Maria Vidlickova

America still in danger of recession by Corina Ciubotaru

Following the recent housing market slump, that America is just beginning to overcome, house prices are lower than they've ever been in the last 16 years. The annual price fall in the country's 10 major cities has reached 4.5%. Many major cities have hundreds of unsold homes so the only ones where prices are still rising are Dallas, Charlotte, Atlanta, Portland and Seattle. Since the collapse of the market, banks have been in their own heap of troubles and became less willing to grant loans given that failure to pay old ones is what triggered the situation. There has been a reduction also in the number of houses built and the entire construction industry was affected. The problems of American economy had an impact on other markets as well and the dollar has been recently falling in relation to the euro, but since the Fed cut the interest rate for banks, things have become better for a while. Still, unemployment is increasing, home sellers aren't willing to reduce prices and many fear a recession is coming to the U.S.A. since August data is worse than they expected after the Fed's cut in early September, from 5.25% to 4.75%. This cut alone was enough to surprise and please lenders, as it was previously viewed as only an unlikely possibility and now it will probably be up to the Fed again to sort out the dollar's problems and thus setting the economy on the right course once again. Could another half-point reduction be the answer?

related story: http://news.bbc.co.uk/2/hi/business/7012639.stm

by Corina Ciubotaru 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by: Katarina Bosanska

Prices of homes down, mortgage applications up

by Nina Gotzmannova

The crisis of U. S. housing market is not over. All the predictions and hopes were wrong and in September things went worse. National Association of Realtors revealed on Wednesday numbers of September and they showed a sharp decline. In August there was 5.48 million sold homes. In September the sale decreased 8 percent to 5.04 million. That is the lowest number since 1999. Also the national median price for a home dropped 5.7 percent from August. The average single-family home or condominium was in September $ 211,700. Last year in September it was 4.2 percent more. But the condominiums are selling better than single-family homes. Most probably people decide to live on their own without a family, or choose to live in a smaller place, because the sales of single-family homes dropped more that condos. In September only 4.38 million people purchased their new nest, in comparison with August, when the same decision made 4.79 million people. The loss is 8.6 percent. This situation may be caused by tightening of credit in August. There was also a danger of dispossession of U. S. subprime mortgages borrowed to people with fishy borrowing histories. People with financial troubles in past choose to wait for a better situation rather than purchase a home now, because they should be rejected. Never mind they can wait several years! On the other hand, the number of mortgage applications is growing. At the first glance positive sign is unfortunately negative. This rising number is only a result of difficulties the prospective borrowers have and therefore are forced to fill more applications at different companies to get one loan.

related story: http://uk.news.yahoo.com/rtrs/20071024/tbs-uk-usa-economy-4210405_1.html

by Nina Gotzmannova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.


Posted by: Jana Kalicka

Now you can get 1.4 of a British house! by Barbie Kunkelova

Be prepared to withdraw £198,500 from your wallet, pockets and accounts for an average UK property. Due to the five famous increases in real estates market since the summer of 2006, the UK citizens are now facing a pretty special case & a downturn in price of houses! The UK's biggest mortgage lender, the Halifax, stated that its prices fell by 0.6% this September. The price growth has been slowed down; this quarter's sales rose only by 0.9%, while in previous quarters the increases were of 2.3% and 3%. However, the leaders of real estate and mortgage companies do neither worry nor fret too much about this news. They are sure the UK market is in a great vital state and this drop is only a usual part of a market's behavior, so very typical for any autumn in any country. A nice drop in house price has been happening in Ireland too, during the past three months there was a drop of 3.2%, ladies and gentlemen! Such situation hit Japan in 1980s. In the end it led the country of the rising sun to lower consumer spending! Similar problems are facing citizens of the US, though on a much milder basis. Since last autumn, the American house prices fell down by 1.3%! I wish we had the same problem in Slovakia!

related story: http://uk.news.yahoo.com/afp/20071010/thl-health-sport-running-shoes-96993ab_1.html

by Barbie Kunkelova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Iveta Nagyova

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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Zuzana Tylkova

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)

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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Zuzana Tylkova

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)

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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.E

Edited by Zuzana Tylkova

Rules Of Consumption

by Kamila Moravcikova

Do you own a house? To have your own house isn't as easy as it can seem to be. Especially, when you've already got an exact idea how it should look like. And there are so many obstacles. First, maybe you don't have enough money to buy it. Then, you spend hours and hours trying to find the right one for you. And it's even worse if you decided to build it up on your own. Though, nowadays it's so easy to get a loan or mortgage. You just go to the bank, walk in with a dream and walk out with bunch of money so it can come true. And once you have money, with a little effort you can hire efficient workers or estate agent to get it done.But there's much more going on. By buying yourself a home and borrowing money you are not only making yourself happy, you also influence the economy! So be responsible! Don't be selfish! You cannot consume too much when there's a threat of overheating! You must not borrow too much money or buy a car (just get a bike and do something for an environment). Conversely, you have to consume much more when economy needs your demand because market is slow. Buy another car even if you don't need it. Don't forget, if economy is doing bad, you are doing bad, too!Don't ask what economy can do for you, but what you can do for economy instead!

related story: http://news.yahoo.com/s/ap/20080116/ap_on_bi_ge/bank_earns;_ylt=Akprq2FYimp69ANFxikLMQms0NUE

by Kamila Moravcikova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.


Posted by: Maria Vidlickova

Rules Of Consumption

by Kamila Moravcikova

Do you own a house? To have your own house isn't as easy as it can seem to be. Especially, when you've already got an exact idea how it should look like. And there are so many obstacles. First, maybe you don't have enough money to buy it. Then, you spend hours and hours trying to find the right one for you. And it's even worse if you decided to build it up on your own. Though, nowadays it's so easy to get a loan or mortgage. You just go to the bank, walk in with a dream and walk out with bunch of money so it can come true. And once you have money, with a little effort you can hire efficient workers or estate agent to get it done.But there's much more going on. By buying yourself a home and borrowing money you are not only making yourself happy, you also influence the economy! So be responsible! Don't be selfish! You cannot consume too much when there's a threat of overheating! You must not borrow too much money or buy a car (just get a bike and do something for an environment). Conversely, you have to consume much more when economy needs your demand because market is slow. Buy another car even if you don't need it. Don't forget, if economy is doing bad, you are doing bad, too!Don't ask what economy can do for you, but what you can do for economy instead!

related story: http://news.yahoo.com/s/ap/20080116/ap_on_bi_ge/bank_earns;_ylt=Akprq2FYimp69ANFxikLMQms0NUE

by Kamila Moravcikova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.


Posted by: Maria Vidlickova

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)

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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Zuzana Tylkova

Decline in construction must be solved by government

by Martina Harvanova

As it may seem, constructions, renovations and similar building of new places are nowadays experiencing their heavy rise. Almost on every street we notice a building site, on every side of a town we stumble due to temporary traffic diversions or side-walks full of stones and odd rubble, maybe concrete. One would assume, the construction business occurs on its apparent growth as our simple sight reveals the busyness of engineering or real-estate companies. However, this opinion would be absolutely wrong.The reason for my point of view is called intensified slump in home constructions. And it is honestly true. At the beginning of the last year the economists didn't foretell such a steep decline, but even their deepest worries came true. These experts affirm that the housing decrease in U. S. is on the level and possibly it is even exceeding the similar downturn in the late 1970s and early 1980s. Exactly this term was significant by the interest rates pushed to the highest levels since the Civil War. If you want to see it in numbers: in 1980 the plunge was represented by 26 per cent while the slump of 2007 reaches up to 24.8 per cent compared to the year 2006. Even the drop in construction in December wasn't one of the predictable ones; it surprised the experts in a great deal. Those were numbers. And the possible solution? Generally known fact that American economy may face a possible recession in the next years frightens the vast majority of the U. S. population. Affects will namely influence even broader public. President Bush together with the Congress members is in front of tough decisions and adoption of needed actions. Their next movements should prevent a downturn by offering an economic stimulus. It is apparent the American economy needs to be strengthened. However, any natural steps won't help it, the government and the federal officials have to meet the necessary arrangements. The steep slump is menacing further more people and situations as it may seem.

related story: http://news.yahoo.com/s/ap/20080117/ap_on_bi_go_ec_fi/economy;_ylt=ApTzGWKXj0n1llbOUqBpYuas0NUE

by Martina Harvanova 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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.


Posted by: Maria Vidlickova

Chris Cantell Discusses Real-Estate: 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)

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.

These news are brought to you by CantellTV, its technology partner SigEx Telecom and its founder Chris Cantell. CantellTV is the fastest growing provider of digital broadcasting coupled with enhanced communications, allowing people to easily control, view, upload and share digital content through proprietary interface. CantellTV has relationships with a growing network of international clients delivering millions of videos per day with more than 50,000 new videos uploaded and 200 hours of new TV shows broadcasted daily to a wide range of viewers, from 5 to 7 year olds of LiveCartoons; to 16 to 24 year old active social users of MyJumps; to fortune 50 corporate clients utilizing enhanced broadcasting services. CantellTV is committed to delivering infinite choices to your world of entertainment at the tip of your fingers. Chris Cantell retains consulting arrangements with several pre-IPO companies.

Edited by Zuzana Tylkova