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Looks like a good start by the FED, BUT it seems that if you are not over 60 days deliquent on your mortgage payments you don't qualify for help? This will encourage homeowners that are responsibele and have kept up their payments (on their under valued property)to stop paying Home Mortgage payments to qualify, not good for your credit rating I'd say!:nuts:
WASHINGTON (AP) -- With foreclosures spiking, the Federal Reserve is taking steps to try to keep some distressed borrowers in their homes.
Under the program, the Fed has a number of options to provide relief, including lowering the amount the homeowner owes on the mortgage, reducing the interest rate or lengthening the term of the loan.
It's unclear how many homeowners would benefit. However, the relief plan would apply to the billions of dollars of mortgage assets the Fed is holding on its books because of last year's bailouts of Bear Stearns and insurer American International Group.
In general, a borrower must be at least 60 days delinquent to qualify for help, although the Fed has leeway to make some exceptions. A 2008 law that set up the $700 billion bailout fund instructed the Fed to take such foreclosure relief action.
"The goal of the policy is to avoid preventable foreclosures on residential mortgage assets that are held, owned or controlled by a Federal Reserve Bank," Fed Chairman Ben Bernanke wrote in a letter Tuesday to Rep. Barney Frank, D-Mass., chairman of the House Financial Services Committee.
Bernanke has repeatedly urged Congress and -- more recently -- the administration of President Barack Obama to ramp up efforts to curb home foreclosures, which are aggravating the economy's problems. The new administration is examining ways to stem foreclosures.
Sen. Chris Dodd, D-Conn., chairman of the Senate Banking Committee, welcomed the Fed's program and called it "an important advance." [more]
http://finance.yahoo.com/news/Fed-moves-to-help-distressed-apf-14179632.html
Yes if you're responsible and productive you don't need any help!!:nuts: View attachment 5547
Speaking of being "responsible and productive", expect the IRS 1040 form to be updated soon.View attachment 5549
Check out line 6a, 6b, and 6c of this sample form.
wts up Norm , picking up heads today , no cracks, hope to get a little done this weekend , but i am sure the barn is cold,not looking forward to these headaches
, get this out of way and hope to get back on hobby hot rod
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(degrees)I would really hate working on a car in the cold weather, I surely would hit my finger or something. Doesn't the temperature effect Torque requirements. Did you check out the torque requirements on those heads? They don't give you torque in foot pounds, they give you degrees! Don't even need a torque wrench. I had to buy new head bolts on this one!! Short bolts 55 degrees, long bolts 65 degrees I think, I hate that!!:nuts:
98c or GI'm still 98% "C" and 1% "C" and "S", guess I'm just chicken, or squirrel?:embarrest: View attachment 5579
Par for the course, I knew it was coming!!:laugh:
(degrees), this is new to me , dang it, am i going to have to buy some other kind of new wrench
, my brother bought a book ( chilton) or something similer but i have not read up on specs at this time, and oh yeah wrench's always slip and hurt a whole lot more in this cold
works for mennuut probably meant foot/pounds.
He's a shade-tree like me. Just turn it as far as you can, and then another half a turn.:nuts:
My Chiltons said you had to use degrees, not too hard to do, they give instructions in the book I think? Start, torque them in sequence to 20 Foot Lbs then tighten to the required degrees. I'll see if I can find a link!(degrees), this is new to me , dang it, am i going to have to buy some other kind of new wrench
, my brother bought a book ( chilton) or something similer but i have not read up on specs at this time, and oh yeah wrench's always slip and hurt a whole lot more in this cold
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You can say that again, and I don't even have a tree!!:laugh: Tight is right!:cheesy:nnuut probably meant foot/pounds.
He's a shade-tree like me. Just turn it as far as you can, and then another half a turn.:nuts:
Good catch that should be 98% GOOD Fund!! Boy am I glad it's GOOD Friday, every Friday is Good Friday!!:laugh:98c or G![]()
You can say that again, and I don't even have a tree!!:laugh: Tight is right!:cheesy:
My Chiltons said you had to use degrees, not too hard to do, they give instructions in the book I think? Start, torque them in sequence to 20 Foot Lbs then tighten to the required degrees. I'll see if I can find a link!