World Cup Venue

I am not real big on soccer, but I do enjoy the competitiveness that spawns from nations coming together and playing their hearts out. Similar to how I don't really care about Curling, but when the Olympics come around I am glued to the TV set. With USA winning Group C, there will be a few grudge matches this weekend. First you will have the United States vs. Ghana on Saturday, and England vs Germany on Sunday. Now you could just watch these matches from home on ESPN, but that's not really what its all about. You need to put on some red, white, and blue, get a vuvuzela, and head down to your local pub to get the full effect. Like most sporting events it's all about atmosphere and since it is a little late to fly to South Africa, the pub is the next best thing.

I recommend the Cock and Bull British Pub in Santa Monica. This is a famous pub known for its soccer fans, but most importantly they have plenty of TVs so you won't miss a second. Here is a link to their website http://www.cocknbullbritishpub.com/ check it out. If you have a favorite place to watch the games leave a comment. Oh and go USA!!

Stress Not, Tax Credit Extended, Source DSNews.com

If you were under contract by April 30th you have until September 30th to close not June 30th as previously stated. Good news for those worried that they would not make the deadline. Here is the full article from DSNews.com:



The U.S. Senate has passed an amendment that would extend the closing deadline of the homebuyer tax credit by three months.

Right now, qualifying homebuyers who were under contract by April 30 have until June 30 to close the deal. But because of the large volume of applications for lenders to process, concerns have begun to surface that some buyers may miss out on the tax break simply because of the backlogged pipeline.

The National Association of Realtors (NAR) says it has received reports that as many as a third of the buyers eligible for the credit have already been notified by their lender that they won’t make the June 30 closing deadline.

The Senate’s amendment, approved Wednesday by a vote of 60 to 37, would give homebuyers and their lenders until September 30 to complete their transactions.

The extension was proposed by Senate Majority Leader Harry Reid, whose home state of Nevada still holds the title of one of the most distressed housing markets in the country.

Reid says not only did the tax credit make it easier for thousands of Nevadans to purchase their first home, it helped reduce the state’s overblown inventory of residential properties.

But a statement on his Web site warns, “There is growing concern that because of the time it takes for banks to complete transactions such as short sales, many of these home purchases would not be complete before the deadline through no fault of the homebuyer.”

The measure granting an extension is part of a larger $140 billion jobs and tax bill currently under consideration by the Senate. A Senate vote on the full legislation is expected to come later this week or next week, and then it will be sent to the House for review.

“If Congress fails to act promptly, then prospective homebuyers might not get the benefit of the homebuyer tax credit, even though they have completed contracts,” NAR stressed in a recent letter to lawmakers.

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Bank of America to pay 108 Million to Countrywide Borrowers

Bank of America is to pay 108 MILLION dollars in settlements to about 200,000 borrowers. It was officially announced Monday by the Federal Trade Commission. Bank of America purchased Countrywide in July 2008. Countrywide was infamous for making risky loans to homeowners during the boom years.

Countrywide hit borrowers who were behind on their mortgages with fees of several thousand dollars at times. The fees were for such services as property inspections and landscaping that far exceeded market rates. Countrywide created subsidiaries to hire vendors, which marked up the price for such services, the FTC said.

The complaint also charges that in servicing loans for borrowers trying to save their homes in Chapter 13 bankruptcy proceedings, Countrywide made false or unsupported claims about the amounts they owed or the status of their loans. Furthermore, the FTC said Countrywide failed to tell borrowers in bankruptcy when new fees and escrow charges were being added to their loan accounts. And after the bankruptcy case closed and borrowers no longer had bankruptcy court protection, the FTC alleges that Countrywide unfairly tried to collect those amounts.

B of A did not admit or deny the charges, but said it agreed to the settlement "to avoid the expense and distraction associated with litigating the case."

I guess Countrywide wasn't on your side...

BP is Exxon Valdez Deja Vu

Black Wave - The legacy of the Exxon Valdez (Teaser EN) from Macumba on Vimeo.

I can't help, but think how much worse the BP spill is in comparison to the 1989 Exxon Valdez spill. For those who are unfamiliar here is a teaser of a documentary on the subject. I can only imagine the extreme impact that our current disaster will have in the immediate and distant future. Here is to hoping that we take care of this one better than we did in 1989.