Asian stocks rose, with the regional benchmark index paring its loss for the month, on speculation Greece may be allowed to roll over some of its bonds, easing concern the nation’s sovereign debt crisis will spread across Europe, one of Asia’s biggest export markets.
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A congressional agreement to increase the U.S. debt limit and reduce federal spending may take until August, the Republican chairman of the U.S. House Budget Committee said.
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Los Angeles, CA, United States (AHN) – Google has taken aim at Groupon and LivingSocial by launching a test of its own daily deal coupon program, starting in several techtrendy spots in the United States. Nicknamed Google Offers, it takes aim at one of the hottest social trends online; daily deals delivered directly to an eager inbox.
The roll-out was launched in Oakland and San Francisco, California; Downtown, Midtown, and Uptown in New York City; and Portland, Oregon.
“Offers is part of an ongoing effort at Google to make new services that give consumers great deals while helping connect businesses with customers in new ways,” the company said in an e-mail to the technology magazine Wired.
While Google is now putting itself in combat against other deal sites, the search engine giant (which is also becoming a strong web-TV and mobile phone OS player as well) made the move after failing to acquire Groupon, the current industry-leader. Google reportedly offered $6 billion to the Chicago-based Groupon, which turned down the offer citing its quirky and independent corporate culture.
Now, the question is whether or not the market has room for several sites. Chris Crum at WebProNews asks out loud, “Will Google Offers annihilate the competition?” While PCWorld muses; “If You Can’t Buy Groupon, Beat ‘Em.”
Meanwhile, others like network engineer Frank Diaz wondered via Twitter why there aren’t any deals in the Windy City. “Google has a Groupon Clone,” Diaz tweets. “But seriously, there’s no offers for the Chicago area? Really Google?” Diaz signed his tweet with a stinging set of hashtags; #Fail #Google #Offers #Buzz
Only time will tell if Offers will sit among Google’s legendary search, mail and maps, or if it will be tossed asside like Buzz and other “not ready for prime-time” projects.
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Washington, DC, United States (AHN) – The Federal Communications Commission said Thursday that it has started the review of telecom giant AT&T’s planned buy-in of T-Mobile for $39 billion. To begin the process, the FCC came out with a public notice to start the long regulatory process that allows companies and other interested parties to have their say on the deal.
The agency will conduct an analysis of whether the planned purchase would harm competition now or in the future. The aim of the analysis is to determine if the public would benefit from the corporate merger.
Among the tests the regulator will conduct is to check if the purchase would place too much spectrum under the control of one firm in any given market and to study the impact of the deal on consumers in terms of the number of service providers available and revenues generated by carriers.
Among those expected to object to the buy-in is Consumers Union, which fears the merger would result in prices of wireless service going up by up to $50 monthly. T-Mobile is known for providing a low-cost alternative to consumers by offering services costing $15 to $50 less monthly, while AT&T charges $200 more per year for plans similar to T-Mobile deals.
The group wrote a letter to members of Congress on Tuesday warning of the impact of the proposed merger.
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Deutsche Bank AG, which won 2011′s biggest Scandinavian corporate-finance deal when it led DuPont Co.’s bid for Danisco A/S, is boosting its Nordic unit as the pace of mergers in the region tops that of Europe and the U.S.
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Menlo Park, CA, United States (AHN) – Facebook will move by mid-June to Menlo Park from its current Palo Alto address. With the relocation, the owner of the world’s most popular social networking site also plans to hike its manpower by 50 percent yearly.
Facebook Chief Financial Officer David Ebersman disclosed at an event this week that its new headquarters is Sun Microsystem’s former campus. It will rent the 57-acre property from Deutsche Banks’ RREEF, which bought the property from Sun owner Oracle Corp.
Facebook’s new home, located at the intersection of Willow Road and Bayfront Expressway, has nine buildings. The complex was built from 1993 to 1995. Ebersman said Facebook chose the new site because of its central accessibility from around the Bay Area to local amenities.
The complex will serve as office of the 1,400 Facebook workers in Palo Alto. The company has 2,000 employees globally; the other 600 are spread in nine U.S. cities and 11 cities in Europe, Asia and North America.
The campus can take in about 3,600 people, according to the real estate firm that advised Facebook on the rental. Facebook has the option of buying the property in five years, although its deal is a 15-year lease agreement. The company also purchased for future development a nearby 22-acre property that is connected to its future office by a tunnel.
The rental, which covers 1 million square feet of space, is the largest lease in Silicon Valley since Apple inked an 865,000 sq. ft. deal in 1991. With Facebook’s move, Silicon Valley will decrease its vacancy rate to 21 percent from 24 percent in December 2010.
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Tel Aviv, Israel (AHN) – One day after an explosion in the pipeline at a gas terminal in the country’s northern Sinai Peninsula, Egyptian authorities have temporarily suspended gas supplies to Israel and Jordan – a move that prompts Israel to consider accelerating development of its own natural gas fields.
Israel is dependent on Egypt for 40 percent of its natural gas supply, the majority of which is used by country’s power stations.
The current gas deal is the foundation of the 32-year-old peace treaty, which is now at stake following the ongoing anti-government protests and civil unrest in Egypt.
If a government hostile to Israel comes to power, Israel fears renewed hostilities and a severing of business and diplomatic relations between the neighboring nations..
Speaking at a weekly cabinet meeting, Israeli Prime Minister Benjamin Netanyahu stressed the need to find alternative energy sources in the wake of scenarios that jolt the region.
Netanyahu also lauded Infrastructure Minister Uzi Landau’s efforts in seeking loans from government and tax breaks to accelerate the development of a natural gas field, which was found off Israel’s Mediterranean coast recently.
Cabinet minister Landau said that Israel must become energy independent.
“We always hope for the good, in terms of the peace agreement that we have and with the gas commercial contract that we have, but we always have to prepare ourselves for the bad case,” Landau added during the meeting.
Landau further explained his government’s plans to construct a floating platform off the Mediterranean coast to obtain LNG, which could be transported to shore.
“We must build this platform off Hadera in the next two years because there is an emergency that we need to take into account,” Landau told Israel Radio.
He added that it would easily to stockpile LNG for emergency situations compared to other forms of natural gas.
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Most seasoned real estate investors face situations where they require more money than what the traditional lenders will lend, and here is where real estate investing with hard money loans given by the specialized lenders is useful.
The hard money lenders are actually private money lenders who provide money for a short term. These loans carry a strict repayment schedule. It is given the name as hard money on account of its strict nature. The rates of interest of such loans are also higher than the market rates, and the fees charged upfront, range between 4 to 10 points.
The money lenders of hard money give the investors the access to the capital that is asset based, wherein the loan amount is secured by way of a collateral security. The rate of interest ranges between 14 to 18 percent annually and the term of the loan is normally six to twelve months.
Along with the property as collateral security, the hard money lender requires can require credit reports and well as documented experience in previous deals you have done. The lenders indulge in inspecting the property and making appraisals, before approving the loans.
The lenders of hard money study the intent of the investment on part of the investors, the strategy of exit that is adopted, the information of the property that is provided such as the residential or commercial nature of the property and also check the credit ratio of the concerned borrower. The financial strengths of the borrowers play a vital role in securing the loan.
The fees that are charged are dependant on the risk factors and the quality of the real estate deal. The plans of using the money set by the investors are also carefully studied by the hard money lenders. Hence, it is recommended that the borrowers provide a proper business plan for securing the hard money loans. They need to convince the lenders about the low risk nature of the concerned investments.
The conditions and the terms of approving real estate investing with hard money loans, vary for different lenders. The investors have to find the perfect lenders suitable for them, and ensure that they keep a good relationship with them.
Such types of loans are useful for procuring or purchasing properties. They are also useful for the buyers having low finances, against those that are required for the project, but have good fixed incomes.
Some of the lenders of hard money have choices regarding the type of the real estate investments, such as rehabbing houses, purchasing houses and the options of lease purchasing.
It is easy to lose a potential deal for lack of finances and hence, maintaining proper relations with the hard money lenders is a priority for the investors. The support of such money lenders is very important for the investors if they want to complete the real estate project in a proper manner. Good relations with lenders are a blessing in disguise for the investors.
Charles W. Moore, a U.S. Army Veteran began Real Estate Investing in 2001. He’s a Successful Investor, and Author of, “Million Dollar Rent To Own Real Estate Secrets Exposed.” Get his Free Report on Rent To Own Real Estate Investing [http://www.Rent2OwnExposed.com] at: [http://www.Rent2OwnExposed.com] – Learn Real Estate Investing, Stocks Markets and Internet Marketing, visit: http://www.REIeBooks.com
Author: Charles W. Moore
Article Source: EzineArticles.com
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Hard money loans are tools for investors, business owners, property owners, would-be property owners and others for whom conventional loans are unattractive or unavailable. Originally, the term was used to describe any loan that was secured by property or other collateral, as opposed to unsecured borrowing, such as cash advances from a credit card or bank line of credit. Today, although the meaning has not really changed, the way that the term is used has. It can all be confusing to the average person, so we hope to shed a little light on the subject.
At one time, it was relatively easy to get a hard money loan. The bank knew that if you could not make your payments, they could take possession of your property. The only real consideration was the value of your property.
Times have changed. Foreclosures take longer. Banks are often unable to recoup their losses. The large number of defaults in recent years has actually hurt some of the financial institutions. Believe it or not, the funds that commercial lenders have available are not endless. Some have had to reduce the number of loans that they make. In general, all lending institutions have adopted stricter qualifications for potential borrowers, in many cases, making it more difficult for individuals to get the money that they need.
Commercial banks are governed by the Federal Reserve and they must follow certain rules and regulations. In addition, each bank has its own policies. We commonly refer to the considerations, rules, regulations and bank policies as red tape. When we apply for a loan, the paperwork can be overwhelming and very difficult for the layman to understand. Read this, initial here, sign there, etc, etc. The red tape is meant to protect the consumer and the bank, but even when you understand that, it can be frustrating. Plus, the whole process takes a lot of time. You might wait weeks, only to hear that your request was denied.
This is where private lenders offering hard money loans may come in. In most of the United States, private transactions are not regulated by state or federal laws. There is less red tape, so you will get your answer faster. There is still no guarantee, but at least you will know that you should look elsewhere for financing in a shorter period of time. There will be less confusion and less frustration. Of course, the policies of individual lenders vary. Some check credit, references and employment. Others are more concerned about how quickly you can repay.
A hard money loan is generally a short term solution. It is most attractive to investors and others that need money quickly, in a matter of weeks, to close on a deal or take advantage of a potentially profitable opportunity. Long term financing may be available, but in the time it takes to find it, the opportunity may be lost.
There are several advantages to hard money loans from private lenders, as opposed to secured loans from conventional lenders (the banks), particularly for real estate investors. Suppose you have the opportunity to buy a property that “needs work”. The seller is particularly motivated because he is facing foreclosure or moving out of state, so he is willing to sell for far below the assessed value of the property, as long as you can close the deal quickly. If you go to the banks, it will take at least 30-45 days (probably more) to close. A private lender may be able to hand you a check in a much shorter period of time.
Time is very important to someone who wants to take advantage of the auction of a foreclosed property or a trustee’s sale. You may have the bidder’s fee, but the trustees typically want the full amount within 14 days. The banks do not work that fast.
For those who can wait for the money they need for a real estate investment, traditional loans might be the way to go. But for everyone else, hard money loans make a lot of sense.
James has been in real estate for over 30 years and is an expert on residential and commercial hard money loans. He is a regular contributer to Hard Money Guide, a comprehensive resource for those looking to secure funding for real estate projects.
Author: James Whitmore
Article Source: EzineArticles.com
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While borrowers with a good credit could get an auto loan from traditional creditors like banks and credit unions who usually provide for lower interest rates. However, a majority of the consumers have either poor, bad or no credit history. Hence, these individuals might not have the access to banking auto funds. Nevertheless, there are plenty of private lenders who offer financial solutions for low rate car loans to enable borrowers to purchase a vehicle irrespective of their credit ratings. But to secure the best deal on a car finance and to make your auto financial solution more affordable it is imperative for you to understand certain guidelines prior to signing a car loan contract with a car loan provider who offers suitable loan terms that meet your budgetary as well as financial requirements.
This is apart from securing an auto funding that meets your financial needs. And it is precisely these important considerations that speak volumes regarding the affordability of these kinds of money finances. Usually, traditional credit lenders like banks and credit unions provide low rate auto loan solutions that offer much lower rates of interest. However, to get this your credit worthiness has to be necessarily good. Nevertheless, there is no need to panic for car loan borrowers with either a poor, bad or no credit history. This is because nowadays there are a lot of online services who offer their professional expertise to help you to secure an approval for a low rate car loan from a suitable private auto loan financer, who offers specialized auto financial solutions, even if you have a bad credit.
There are different ways by which borrowers with a sub-prime credit could obtain a car finance that is affordable as well as offers favorable loan terms. You could get lower car loan rates by placing collateral against the car loan, such as a property or home equity line of credit. Yet another option could be paying a reasonable cash advance. Generally, credit lenders reduce their lending risks by attempting to secure some money upfront form a risky borrower. Hence, even a co-signer with a good credit reputation could be worth a consideration when trying to secure lower rates of interest. Each of these options could go a long way to assist you in lowering your monthly installments. Besides, while comparing the various auto finance creditors one needs to make sure whether or not there is any kind of loan pre-payment charges or penalties. For this, you are required to follow certain guidelines which could invariably help you to obtain low rate car loans that are affordable as well as suitable to satisfy your financial needs and requirements.
To get the most affordable deal on car loan finances, it is imperative for borrowers to verify the loan documents. It is always advisable to carry out a detailed scrutiny of the loan contract contents prior to inking the deal. Market competitiveness permits you to negotiate hard with your creditors to obtain the best low rate car loans. In addition you should check the market value of the car you intend to buy, by comparing quotes offered by different dealers. Over and above it is desirable to go through the terms and conditions particularly with reference to the interest charged, the duration of the loan and whether there is any clause for extra charges or penalties associated with pre-payment of the auto loan. It is hence, recommended to utilize the services of reputed online car loan service providers like CarMoneyFast.com who offer their professional expertise to help car buyers secure low rate car loans that are affordable as well as offer favorable car loan terms.
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