Archive for May 2010
27
Which of these items will actually stimulate the economy? Which will most egregiously NOT help the economy?
8 Comments · Posted by admin in California construction loans
This is what’s actually in the Recovery Bill. http://wsbradio.com/blogs/jamie_dupree/2009/02/spending-in-the-stimulus-bill.html
$24 million for construction and repairs to US Department of Agriculture facilities
$22.5 million for the USDA Inspector General for oversight on the stimulus bill
$176 million for deferred maintenance on US Agricultural Research Service facilities
$50 million to modernize and maintain the IT system of the Farm Service Agency
$290 million for "Watershed and Flood Prevention Operations"
$50 million for "Wastershed Rehabiliation Program"
$1 billion for rural housing direct loans
$10.4 billion for rural housing guaranteed loans
$2.5 billion for rural distance learning, telemedicine and broadband
$100 million in grants for National School Lunch Program equipment assistance
$150 million in agricultural commodity assistance
$1 billion for the Census Bureau
$4.7 billion for "Broadband Technology Opportunities Program" which includes $350 million for the
development of a "broadband inventory map"
$650 million for Digital TV converter box program
$220 million for Scientific research at the National Institute of Standards and Technology
$360 million for Construction of scientific research facilities
$230 million in extra budget money for the National Oceanic and Atmospheric Administration
$600 million for NOAA "Procurement, Acquisition and Construction"
$225 million in grants for programs to combat violence against women
$2 billion in state and local law enforcement assistance grants
$225 million in grants to improve the criminal justice system
$225 million in law enforcement assistance to Indian Tribes
$100 million for the "office for Victims of Crime"
$125 million in law enforcement assistance for rural areas
$50 million in state and local grants to combat internet crime against kids
$1 billion for the COPS program
$400 million in operations budget money for NASA
$150 million for "Aeronautics" at NASA
$400 million for "Exploration" at NASA
$2.5 billion for research at the National Science Foundation
$100 million for NSF "Education and Human Resources"
$400 million for NSF "Major Research Equipment and Facilities Construction"
$1.4 billion in Army "Operation and Maintenance"
$657 million in Navy "Operation and Maintenance"
$113 million in Marine Corps "Operation and Maintenance"
$1.09 billion for Air Force "Operation and Maintenance"
$98 million for Army Reserve "Operation and Maintenance"
$55 million for Navy Reserve "Operation and Maintenance"
$39 million in Marine Corps Reserve "Operation and Maintenance"
$13 million for Air Force Reserve "Operation and Maintenance"
$266 million for Army National Guard "Operation and Maintenance"
$25 million for Air National Guard "Operation and Maintenance"
$75 million each for Army, Navy, Air Force "Research, Development, Test and Evaluation"
$400 million for "Defense Health Program"
$2 billion for Army Corps of Engineers construction
$375 million for Army Corps projects on the Mississippi and tributaries
$2.07 billion for Army Corps of Engineers "Operation and Maintenance"
$100 million for "Formerly Utilized Sites Remedial Action Program"
$1 billion for Interior Department "Water and Related Resources"
$50 million for Central Utah Project Completion Act
$50 million for California Bay-Delta Restoration Act
$10 million to inspect canals in urban areas
$16.8 billion for Energy Department, "Energy Efficiency and Renewable Energy"
$5 billion of that goes for "Weatherization Assistance"
$4.5 billion to improve the nation’s electricity grid
$3.4 billion for "Fossil Energy Research and Development"
$483 million for "Non-Defense Environmental Cleanup"
$390 million for "Uranium Enrichment Decontamination and Decommissioning Fund"
$1.6 billion for "Science"
$6 billion "Innovative Technology Loan Guarantee Program"
$5.12 billion for "Defense Environmental Cleanup"
$7 million for oversight of "Making Work Pay" tax credits and payments in this bill
$80 million to implement health insurance tax credit plan
$5.5 billion for the "Federal Buildings Fund"
$300 million to buy energy efficient vehicles for the federal government
$200 million to consolidate the Department of Homeland Security Headquarters
$100 million for hi tech border security technology along the Mexican border
$420 million for construction of US Customs land border ports of entry
$20 million for tactical communications equipment for immigration enforcement
$1 billion for Aviation Security (explosive detection equipment)
$98 million for improvements to Coast Guard shore facilities
$142 million for "Alteration of Bridges"
$150 million in FEMA Public Transportation Security Assistance grants
$150 million for Port Security Grants
$210 million in grants to upgrade non-Federal fire stations
$125 million for Bureau of Land Management activities
$180 million for Bureau of Land Management construction
$15 million for Wildland Fire
Romare, obviously not all economist think it will stimulate the economy. Take a look at http://www.cato.org/special/stimulus09/cato_stimulus.pdf where 200 economists sign a full-page ad saying that government spending is not the way to improve the economy.
$22.5 million for the USDA Inspector General for oversight on the stimulus bill
$176 million for deferred maintenance on US Agricultural Research Service facilities
$290 million for "Watershed and Flood Prevention Operations"
$350 million for the
development of a "broadband inventory
$400 million in operations budget money for NASA
$150 million for "Aeronautics" at NASA
$400 million for "Exploration" at NASA
$2.5 billion for research at the National Science Foundation
$100 million for NSF "Education and Human Resources"
$400 million for NSF "Major Research Equipment and Facilities Construction"
$10 million to inspect canals in urban areas
$16.8 billion for Energy Department, "Energy Efficiency and Renewable Energy"
$5 billion of that goes for "Weatherization Assistance"
$300 million to buy energy efficient vehicles for the federal government
$200 million to consolidate the Department of Homeland Security Headquarters
$100 million for hi tech border security technology along the Mexican border
$420 million for construction of US Customs land border ports of entry
$20 million for tactical communications equipment for immigration enforcement
$1 billion for Aviation Security (explosive detection equipment)
$98 million for improvements to Coast Guard shore facilities
$142 million for "Alteration of Bridges"
$150 million in FEMA Public Transportation Security Assistance grants
$150 million for Port Security Grants
$210 million in grants to upgrade non-Federal fire stations
$125 million for Bureau of Land Management activities
$180 million for Bureau of Land Management construction
$15 million for Wildland Fire
$650 million for Digital TV converter box program
$220 million for Scientific research at the National Institute of Standards and Technology
$100 million for the "office for Victims of Crime"
$125 million in law enforcement assistance for rural areas
waste most of it
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27
Do you think your tax dollars?
5 Comments · Posted by admin in California construction loan
should go to help cities that do not insure the money is used for US taxpayers?
" WASHINGTON – A new analysis shows that California would get a whopping $21.5 billion under an economic stimulus plan that’s expected to be approved by the House next week, making it the biggest winner among the 50 states.
That’s according to the National Conference of State Legislatures, which analyzed the new spending proposals offered by House leaders.
Don’t take that money to the bank quite yet because the numbers are moving targets. Congressional offices were still trying to digest the mammoth package on Friday. And the Senate has yet to offer its plan.
And even though the proposed amount is equal to about half of California’s projected $40 billion state budget deficit over the next 17 months, it’s unclear how much of the federal aid would close the state gap.
Gov. Arnold Schwarzenegger is not recalibrating his budget assumptions to account for federal dollars because it remains unclear what amount of money California will ultimately receive and in which form, said Department of Finance spokesman H.D. Palmer. He does not want leaders to reduce cuts or tax increases with an undefined pot of federal money in current state budget talks, Palmer said.
The governor’s proposed budget includes $4.7 billion in borrowing that the state would have to repay by June 2011, and Palmer said Schwarzenegger’s "first priority" for federal money would be to eliminate the need for that loan.
State Senate President Pro Tem Darrell Steinberg, D-Sacramento, said earlier this week that the federal funding California receives "will be significant and essential, but it will be additive to the cuts we make and the revenues we’re able to gain."
Whatever happens, it’s clear that states are in line for a big chunk of money under the Democratic proposals floating in Washington.
On Thursday, staffers of the House Transportation Committee estimated that California would receive $4.5 billion to spend on highways, bridges and other projects. But that’s only a small part of the overall package, as the new numbers make clear.
Other stimulus money would be aimed at programs for child care, job training and energy assistance for the poor, among other things. House Democrats say the overall package would create or save up to 4 million jobs in the next two years.
Under the House Democratic plan, the biggest source of aid to states – $79 billion – would be reserved for a state fiscal stabilization fund. California would get $7.8 billion under that program alone.
The lion’s share of the money for the stabilization fund – 61 percent – would have to be spent to support K-12 and postsecondary education, according to the state legislators’ conference. The remainder could be spent on public safety and other government services.
Some House Republicans are criticizing the scope of the package, which Democrats are promising to finalize by next month.
The House Democratic plan also includes $275 billion in tax cuts. "
Breaks down as follows…
Fiscal Stimulation 7.8 Billion
Titile 1 Schools 1.6 Billion
Special Education 1.4 Billion
Ed Tech 0.1 Billion
K-12 Construction 1.7 Billion
Child care 0.2 billion
Highways 2.8 Billion
Clean Water .04 Billion
Drinking Water 0.2 Billion
Weatherzation 0.2 Billion
State Energy 0.2 Billion
Medicaid for 2009 1.9 Billion
Medicaid for 2010 2.0 Billion
http://www.sacbee.com/capitolandcalifornia/story/1569761.html
They should remove/deport the illegals and only when they prove they can keep them out, should they then give any money to CA. And sanctuary cities should not receive any federal money.
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27
Florida foreclosure short sale mortgage loan modification bo
16 Comments · Posted by admin in construction loan
www briankortepl com 866 322 2164 Seeking foreclosure defense in Florida We are a full service law firm with attorneys dedicated to helping homeowners through the difficulty of mortgage foreclosure short sales loan modifications truth in lending violations tila respa law title transactions predatory lending etc We are lawyers located in Palm Beach county of Florida and serve customers statewide with their residential housing issues Please contact us directly or visit our website for more information You can visit us in person if you reside in West Palm beach Boca Raton Wellington Jupiter Port Saint Lucie Vero Beach Miami Ft Lauderdale Broward County Dade County
Duration : 0:0:26
Attorney · Bank · Estate · Foreclosure · Lawyer · Real · Sale · Short
27
San Bernardino, California hard money loans
No comments · Posted by admin in California construction loans
http://www.youtube.com/watch?v=9usg-G7gQf4 San Bernardino, California hard money lenders http://www.lendinguniverse.com in Adelanto, Apple Valley, Barstow, Big Bear Lake, Chino, Chino Hills, Colton, Fontana, Grand Terrace, Hesperia, Highland, financing construction loans, Buying existing notes
http://www.hardmoneyloop.com commercial hard money for San Bernardino, Loma Linda, Montclair, Needles, Ontario, Rancho Cucamonga, Redlands, Rialto, San Bernardino, Twentynine Palms, Upland, Victorville, Yucaipa, Yucca Valley , lending for Private investor loans and Dome homes
http://www.lendinguniverse.com/fast_commercial_hard_money_loans.htm Private real estate investors lending on Purchase with no down payment loans, RV parks RV parks, Log homes, Chapter 13 “Bankruptcy Buster” loans
http://www.lendinguniverse.com/BorrowersCaliforniaMortgage.asp California hard money lenders for Hospital Loans on a Partial Interest in Real Property, Car loans
Purchase with no down payment loans, FHA and VA government loans, Co-op’s
Duration : 0:0:19
California hard money · commercial loans · hard money lenders
27
Solyndra Loan Guarantee Announcement
5 Comments · Posted by admin in California construction loan
Vice President Biden and Secretary Chu were joined by California Governor Arnold Schwarzenegger and Solyndra CEO Dr. Chris Grone to announce that the Department of Energy has finalized a $535 million loan guarantee for Solyndra, Inc., which manufactures innovative cylindrical solar photovoltaic panels that provide clean, renewable energy. The funding will finance construction of the first phase of the company’s new manufacturing facility. Solyndra estimates the new plant will initially create 3,000 construction jobs, and lead to as many as 1,000 jobs once the facility opens.
Duration : 0:24:9
Arnold Schwarzenegger · california · Chris Grone · Department of Energy · DOE · government loans · Governor Schwarzenegger · Joe Biden · recovery act · Secretary Chu · solar energy · solar panels · solyndra · Steven Chu · Vice President Biden
24
What happens with construction loans when building not complete?
2 Comments · Posted by admin in construction loans
I’m curious. Friend is building her own house, she and her husband literally. She has about 15 days to finish, no money left and bank says she has to have siding on house. (No doubt
So, what happens when your time is up and construction isn’t complete.
I’m very curious. I know a lot depends on a lot . . . just wondering about personal experiences.
First answer–I have no idea what you mean – typo??
Second guy- I should have said, she already had an extension – 2 months. Yikes, huh. Trust me when I say she has no dollars for siding. Should be interesting.
For a lender to come in and refinance her out of the construction loan, the home must be completed – including the siding. It sounds to me like her bank is being stupid.
When you are that close (and for the sake of argument, I’ll assume the only thing left to do is the siding), the construction loan bank will usually give you an extension on the loan term. They don’t want the house – they just want to be paid off. I am in MN and we often run into trouble late in the year due to weather (tough to do things outside when it is snowing and 5 degrees….but I digress). Typically the bank will give the borrower an extention on the loan until the weather breaks (which may be April….damn, digressing again). I have never had a construction loan go to the next phase – foreclosure. The bank can accelerate the loan and make it due immediately. Your friend will be in default if they do this and the foreclosure process may begin.
If her current lender is not going to give her and extention she should contact another bank and see if they can do a "construction-to-permanent" loan, or give her another few months to finish the home.
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24
What is covered under a construction loan?
6 Comments · Posted by admin in construction loan
My husband and I are considering building our own home. We have gone to the bank and know the basics of the loan itself but we were wondering what is covered under a construction loan. Are we able to buy things to finish the house such as appliances (stove, refrigerator, etc.) or does that have to be bought on our own? Can we buy furniture? I’m sure that this may depend on the banks rules but maybe someone could give us some idea of what we are getting into. Any help would be appreciated!
Thanks!
It covers 75% of your estimated construction costs, you give them the 25% up front. The structure is covered, as well as a driveway and installed appliances. No furniture, nothing not literally attached to the building. You will have a problem once you complete though, as you have to convert to a conventional loan, and there is just no way your house will appraise for 75% of the building costs. Maybe half, if you are freaking lucky. The monthly fees for not converting or not completing on time will be killer. MANY people loose their custom houses before they even move in.
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24
A neo conservatives hero exposed?
2 Comments · Posted by admin in California construction loans
Limbaugh vs. Reality
Bogus Economics
LIMBAUGH: On California contractor C.C. Myers completing repairs 74 days early on the earthquake-damaged Santa Monica Freeway: "There was one key element that made this happen. One key thing: The governor of California declared the [freeway] a disaster area and by so doing eliminated the need for competitive bids…. Government got the hell out of the way." (TV show, 4/13/94) "They gave this guy [Myers] the job without having to go through the rigmarole…of giving 25 percent of the job to a minority-owned business and 25 percent to a woman." (TV show, 4/15/94)
REALITY: There was competitive bidding: Myers beat four other contractors for the job. Affirmative action rules applied: At least 40 percent of the subcontracts went to minority or women-owned firms. Far from getting out of the way, dozens of state employees were on the job 24 hours a day. Furthermore, the federal government picked up the tab for the whole job (L.A. Times, 5/1/94).
LIMBAUGH: "Banks take the risks in issuing student loans and they are entitled to the profits." (Radio show, quoted in FRQ, Summer/93)
REALITY: Banks take no risks in issuing student loans, which are federally insured.
LIMBAUGH: "Don’t let the liberals deceive you into believing that a decade of sustained growth without inflation in America [in the '80s] resulted in a bigger gap between the haves and the have-nots. Figures compiled by the Congressional Budget Office dispel that myth." (Ought to Be, p. 70)
REALITY: CBO figures do nothing of the sort. Its numbers for after-tax incomes show that in 1980, the richest fifth of our country had eight times the income of the poorest fifth. By 1989, the ratio was more than 20 to one.
LIMBAUGH: Comparing the 1950s with the present: "And I might point out that poverty and economic disparities between the lower and upper classes were greater during the former period." (Told You So, p. 84)
REALITY: Income inequality, as measured by the U.S. Census Bureau, fell from the 1940s to the late 1960s, and then began rising. Inequality surpassed the 1950 level in 1982 and rose steadily to all-time highs in 1992. (Census Bureau’s "Money Income of Households, Families and Persons in the United States")
LIMBAUGH: "Oh, how they relished blaming Reagan administration policies, including the mythical reductions in HUD’s budget for public housing, for creating all of the homeless! Budget cuts? There were no budget cuts! The budget figures show that actual construction of public housing increased during the Reagan years." (Ought to Be, p. 242-243)
REALITY: In 1980, 20,900 low-income public housing units were under construction; in 1988, 9,700, a decline of 54 percent ;Statistical Abstracts of the U.S).In terms of 1993 dollars, the HUD budget for the construction of new public housing was slashed from $6.3 billion in 1980 to $683 million in 1988. "We’re getting out of the housing business. Period," a Reagan HUD official declared in 1985.
LIMBAUGH: "The poorest people in America are better off than the mainstream families of Europe." (Radio show, quoted in FRQ, Spring/93)
REALITY: Huh? The average cash income of the poorest 20 percent of Americans is $5,226; the average cash income of four major European nations–Germany, France, United Kingdom and Italy–is $19,708.
LIMBAUGH: "There’s no such thing as an implied contract." (Radio show, quoted in FRQ, Spring/93)
REALITY: Every first year law student knows there is.
LIMBAUGH: "Ladies and gentlemen, we now know why there is this institutional opposition to low tax rates in the liberal wing of the Democratic Party. It’s because [low tax rates] are biblical in nature and in root. When you can trace the lowering of tax rates on grain from 90 percent to 20 percent giving seven fat years during the days of Pharaoh in Egypt, why then you are tracing the roots of lower taxes and rising prosperity to religion…. You can trace individual prosperity, economic growth back to the Bible, the Old Testament. Isn’t it amazing?" (Radio show, 6/28/93)
REALITY: Amazingly wrong. Genesis 41 is about the wisdom of instituting taxes, not cutting them. After Pharaoh had a dream that prophesied seven fat years to be followed by seven lean years, Joseph advised him to "appoint officers over the land, and take up the fifth part of the land of Egypt in the seven plenteous years…and lay up corn under the hands of Pharaoh." In other words, a 20 percent tax on the grain harvest would put aside food for use during the famine. Pharaoh took Joseph’s advice, and Egypt avoided hunger during the famine.
Weird Science
LIMBAUGH: "It has not been proven that nicotine is addictive, the same with cigarettes causing emphysema [and other diseases]." (Radio show, 4/29/94)
REALITY: Nicotine’s addictiveness has been reported in medical literature since the turn of the century. Surgeon General C. Everett Koop’s 1988 report on nicotine addiction left no doubts on the subject; "Today the scientific base linking smoking to a number of chronic diseases is overwhelming, with a total of 50,000 studies from dozens of countries," states Encyclopedia Britannica’s 1987 "Medical and Health Annual."
LIMBAUGH: "We closed down a whole town–Times Beach, Mo.–over the threat of dioxin. We now know there was no reason to do that. Dioxin at those levels isn’t harmful." (Ought to Be, p. 163)
REALITY: "The hypothesis that low exposures [to dioxin] are entirely safe for humans is distinctly less tenable now than before," editorialized the New England Journal of Medicine after publishing a study (1/24/91) on cancer mortality and dioxin. In 1993, after Limbaugh’s book was written, a study of residents in Seveso, Italy had increased cancer rates after being exposed to dioxin, The EPA’s director of environmental toxicology said this study removed one of the last remaining doubts about dioxin’s deadly effects (AP, 8/29/93).
LIMBAUGH: "The worst of all of this is the lie that condoms really protect against AIDS. The condom failure rate can be as high as 20 percent. Would you get on a plane — or put your children on a plane — if one of five passengers would be killed on the flight? Well, the statistic holds for condoms, folks." (Ought to Be, p. 135)
REALITY: A one in five AIDS risk for condom users? Not true, according to Dr. Joseph Kelaghan, who evaluates contraceptives for the National Institutes of Health. "There is substantive evidence that condoms prevent transmission if used consistently and properly," he said. He pointed to a nearly two-year study of couples in which one partner was HIV-positive. Among the 123 couples who used condoms regularly, there wasn’t a single new infection (AP, 8/29/93).
LIMBAUGH: "Most Canadian physicians who are themselves in need of surgery, for example, scurry across the border to get it done right: the American way. They have found, through experience, that state medical care is too expensive, too slow and inefficient, and, most important, it doesn’t provide adequate care for most people." (Told You So, p. 153)
REALITY: "Mr. Limbaugh’s claim simply isn’t true," says Dr. Hugh Scully, chair of the Canadian Medical Association’s Council on Healing and Finance. "The vast majority of Canadians, including physicians, receive their care here in Canada. Those few Canadians who receive health care in the U.S. most often do because they have winter homes in the States–like Arizona and Florida–and have emergent health problems there." Medical care in Canada is hardly "too expensive"; it’s provided free and covered by taxes.
Yeah, Limbaugh is a phony, a prescription drug addict and enjoys going to orgies in the Dominican Republic.
Many neocons are kinky and obsessive. The moral and religious hypocrisy is absolutely typical — especially in the South.
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24
Does cap and trade step on the 10 amendment? Stealing powers from states & sending it to Federal Govt?
5 Comments · Posted by admin in California construction loan
"powers not granted to the national government nor prohibited to the states are reserved to the states or the people."
The federal Govt. overstepping their rights… Nationalization going crazy with Obama!
Here is all the codes that the Federal Government is imposing:
California standards that currently ran them BANKRUPT!
It gives the federal government branch of energy power to set any law they want!!!! (.. has the power to change the consumer’s habits anyway they need…)
EVERY HOUSE MUST HAVE AN OUTLET THAT WILL CHARGE AN ELECTRIC CAR.
I’m typing as they say it on c-span… Fannie and Fredie will get a credit for every energy efficient house they loan out….NOT YOU!
Tons of credits to fannie and freddie if they loan to people who can afford their new green standard
all new construction: They tell you what building materials you can use.
the fed. govt. holds the power to decide what is green.
shifts massive amounts of power to the federal Govt. to decide how you can build your house.
all appraisers to be retrained to appraise your house on green standards which will effect the price of house.Your house will be worth less if it is not green… This is for old houses and public buildings too.
Steven.. are you crazy? you into BDSM? You never choose Federal Slavery! Power to the States yes but not transfering all power of the whole United States to ONE HOUSE! That is insane.
basically the Federal Govt. (white house) will come INTO your home and tell you how to live. Slippery slope of Dictatorship.
No.
Every house that has electricity can ALREADY charge the batteries of an electric car.
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