Tuesday, October 21, 2008
Patience
As some of you may already know, I am seriously wanting to sell my house and buy a newer one farther Southwest in my fair city. Well, tonight, after dinner , I went up and drove around a newer subdivision in my town full of the newer homes(some are still being built on site) and they are in my price range. I drove up there to sort of 'whet my appetite'.The house I am living in now is nice, and completely paid for as well, and I am tucking as much money away in savings as I can. The neighborhood that I am living in right now is nice, but is projected to start going downhill in about 2 or 3 years. The neighborhood that I want to move to looks to be a sweeeeet one. But the only way that I can put a great sized chunk of down payment on a new home is to sell my this one, and the housing market is not too great for selling right now. Yes, I have been told about renting out my current house, but to tell the truth, I just cannot be a landlord because I already have a full time company, and I know nothing about that kind of business. Housing rentals are not the kind of business that I want to be in anyway. So renting my house is out of the question. So, I guess that what I need right now is patience
Thursday, October 16, 2008
Bankrupt?? How in the hell can they be bankrupt?????
No $3.2B Bankruptcy for Alabama CountyBy JAY REEVES, AP
posted: 21 HOURS 29 MINUTES AGOcomments: 37PrintShare
Text SizeAAABESSEMER, Ala. (Oct. 15) - Commissioners in Alabama's most populous county voted against filing the largest municipal bankruptcy in U.S. history Tuesday and the federal government refused to guarantee the county's $3.2 billion sewer bond debt.
$3.2 Billion Bankruptcy?Dennis Lathem, Birmingham Chamber of Commerce / AP3 photos In less than 10 minutes Tuesday, commissioners in Jefferson County, Ala. -- home to Birmingham, the state's biggest city -- voted 3-2 to reject a resolution to seek bankruptcy protection for $3.2 billion in debt.(Note: Please disable your pop-up blocker)
The Jefferson County Commission rejected a resolution to file for bankruptcy on a 3-2 vote during a meeting that lasted less than 10 minutes.
Afterward, the governor's office said the Treasury Department had refused to intervene in the looming crisis, which started when the county made risky deals to pay for massive sewer system improvements after being sued over failure to meet federal clean water standards.
Officials say the area's water is safe after 12 years of work, but payments on the county's debt ballooned when the mortgage crisis struck and banks began tightening up on lending.
The majority of commissioners want to continue seeking an alternative to bankruptcy, which may involve refinancing the huge debt, budget cuts, sewer rate increases and a negotiated reduction of the amount owed to creditors.
"The only way Jefferson County can grow and prosper is to settle this short of bankruptcy," said Bettye Fine Collins, the commission president. Officials may have to slash spending by as much as $30 million, or nearly 5 percent of the county's $655 million budget, she said. The county could reduce services in its roads and sewer departments and close some county offices, she said.
But Commissioner Jim Carns said bankruptcy is the only realistic option, partly because Alabama's antiquated constitution requires legislators to approve possible solutions, including tax hikes, and such approvals are unlikely.
"Sooner or later people are going to realize that bankruptcy is the only way," Carns said.
Gov. Bob Riley, who was brought in to the debt negotiations by the commission, last week asked the federal government to guarantee the county's debt, a move that could have resulted in lower interest rates and payments.
But Riley's office said the Treasury Department had refused to include Jefferson County in a $700 billion bailout package approved by Congress, deciding that no municipalities would be allowed to participate.
A bankruptcy filing by the county, which is home to 658,000 residents and includes Birmingham, would nearly double the previous record of $1.7 billion, set in 1994 by Orange County, Calif.
Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2008-10-14 12:15:41
posted: 21 HOURS 29 MINUTES AGOcomments: 37PrintShare
Text SizeAAABESSEMER, Ala. (Oct. 15) - Commissioners in Alabama's most populous county voted against filing the largest municipal bankruptcy in U.S. history Tuesday and the federal government refused to guarantee the county's $3.2 billion sewer bond debt.
$3.2 Billion Bankruptcy?Dennis Lathem, Birmingham Chamber of Commerce / AP3 photos In less than 10 minutes Tuesday, commissioners in Jefferson County, Ala. -- home to Birmingham, the state's biggest city -- voted 3-2 to reject a resolution to seek bankruptcy protection for $3.2 billion in debt.(Note: Please disable your pop-up blocker)
The Jefferson County Commission rejected a resolution to file for bankruptcy on a 3-2 vote during a meeting that lasted less than 10 minutes.
Afterward, the governor's office said the Treasury Department had refused to intervene in the looming crisis, which started when the county made risky deals to pay for massive sewer system improvements after being sued over failure to meet federal clean water standards.
Officials say the area's water is safe after 12 years of work, but payments on the county's debt ballooned when the mortgage crisis struck and banks began tightening up on lending.
The majority of commissioners want to continue seeking an alternative to bankruptcy, which may involve refinancing the huge debt, budget cuts, sewer rate increases and a negotiated reduction of the amount owed to creditors.
"The only way Jefferson County can grow and prosper is to settle this short of bankruptcy," said Bettye Fine Collins, the commission president. Officials may have to slash spending by as much as $30 million, or nearly 5 percent of the county's $655 million budget, she said. The county could reduce services in its roads and sewer departments and close some county offices, she said.
But Commissioner Jim Carns said bankruptcy is the only realistic option, partly because Alabama's antiquated constitution requires legislators to approve possible solutions, including tax hikes, and such approvals are unlikely.
"Sooner or later people are going to realize that bankruptcy is the only way," Carns said.
Gov. Bob Riley, who was brought in to the debt negotiations by the commission, last week asked the federal government to guarantee the county's debt, a move that could have resulted in lower interest rates and payments.
But Riley's office said the Treasury Department had refused to include Jefferson County in a $700 billion bailout package approved by Congress, deciding that no municipalities would be allowed to participate.
A bankruptcy filing by the county, which is home to 658,000 residents and includes Birmingham, would nearly double the previous record of $1.7 billion, set in 1994 by Orange County, Calif.
Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL.
2008-10-14 12:15:41
Wednesday, October 08, 2008
McCain and moving selling this old house
On John McCain:I cannot count him out here. I will not declare anyone a winner until November 4th. Regardless of who wins, I will be optimistic. I hope that Obama does not win. I swear to God almighty that I think the man is a Socialist, who hangs around with questionable people. I just flat out don't like his politics. But should he win, I won't blame everything that goes wrong on him. I will criticize him... I will criticize anyone who holds public office.. and I didn't like Clinton, but I prospered under his administration, I will prosper regardless of who is in high office Now, on to another subject. I believe that I have stated here somewhere that I will never move from my cute as pie little home. Well, I am kind of sorry to say that I was wrong. In about 5 years I plan to move to a bigger home. My little neighborhood will likely start going downhill in about that time. I hope that I can sell my cute little home for a fair price. I get excited thinking about it, and even check out some real estate websites.. and I am looking at mortgages, and saving my money for a good size down payment. But I have a few years yet, guess that I shouldn't get too ahead of myself...
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