ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr The Home Affordable Refinance Program (HARP) expires at the end of 2015. It’s been a great opportunity for millions of Americans to refinance to lower rates even when they owed more than the value of the home. But some estimates indicate there are still millions of eligible borrowers who have not taken advantage of it. Is this an opportunity for Credit Unions to be memberlicious?I think so………….HARP is truly a great program for borrowers. It can save them hundreds of dollars on a monthly payment or reduce the term of their loan. There are criteria to qualify for HARP, but the main points are below:A borrower eligible for HARP if they meet all of the following criteria:The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.The current loan-to-value (LTV) ratio must be greater than 80%.The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months. continue reading »
Image source: NMDCNational Marine Dredging Company (NMDC) from Abu Dhabi has signed an agreement with Canal Harbor and Great Projects Company (CHP), a subsidiary of the Suez Canal Authority, to become shareholders in a newly incorporated Egyptian company, named The Challenge – Egyptian Emirates Marine Dredging Company.Under the agreement, the scope of operations for the NMDC-CHP joint venture will be the execution of dredging, marine and civil engineering projects in the Arab Republic of Egypt.The contract was signed on Saturday, November 18, by Mohab Mamish, the chairman of the Suez Canal Authority and Yasser Zaghloul, NMDC CEO, in the presence of Wael Al Sayed Mohammed Gad, ambassador of Egypt to the UAE, Mohammed Thani Al Rumaithi, the chairman of NMDC, and a number of board members of both parties.The two parties agreed to appoint Yasser Zaghloul as the chairman of The Challenge. NMDC will own 49%, while 51% of the EEMDC shares is being held by CHP.At the signing ceremony, Mohammed Thani Al Rumaithi said that this partnership is just one of the results of the continuous cooperation between Egypt and the United Arab Emirates.This agreement will support the economic development initiatives and will represent a model for the exchange of experiences and knowledge between two parties in achieving mutual benefits, concluded Yasser Zaghloul.
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Barcelona and Real Madrid maintained their 100% starts to the season with La Liga victories on Sunday.Lionel Messi notched a hat-trick in Barca’s 3-2 victory in Valencia , while Cristiano Ronaldo was on target as Real out-played Athletic Bilbao 3-1.Messi fired the visitors into a three-goal lead before Helder Postiga hit back with a brace for Valencia in the space of 50 seconds.All five goals came in an action-packed first half.Meanwhile, Isco scored twice at the Bernabeu where Ibai poached a 79th minute consolation for Bilbao.Both Spanish giants have taken nine points from their opening three games.