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Issue #21 December 29th, 2008
Your Bi-Weekly Newsflash from
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A quick dash of news you need to hear
 
In This Issue
Obama on Fannie Mae future
Where Home Prices are Heading
Washington Report:  New Congress and Fannie Mae
The Obama administration still has three weeks before taking over in Washington, but the new Congress arrives in town much earlier - January 6th.  There's another key item on the agenda: What to do with Fannie Mae and Freddie Mac?
One option is to combine the two companies into a single financial entity. After all, they both perform similar functions, so why do we need two?
A second option is to slice off the public-service functions of the companies -- support for low and moderate income single and multifamily housing -- and turn them into some form of federally-controlled corporation...

Read on...
Where Home Prices Are Heading Next
(Money Magazine) -- The housing implosion is nowhere near over. In 75 of the 100 top U.S. cities, prices are expected to fall in the next 12 months according to Fiserv Lending Solutions.
The S&P Case/Shiller Home Price Index, which tracks 20 of the largest housing markets, showed prices plummeting by 12.7% in the 12 months ending February. That's the biggest fall since the index began tracking prices in 2000.
Meanwhile, foreclosure filings more than doubled in the first three months of 2008, spiking 112%. So far this year 156,463 families have lost their homes to repossessions. Many markets won't hit bottom till late 2009 or even 2010.

Tampa
Median Price Home: $200,000
Price Change, 5 yr: 52.1%
Forecast (May '09): -17.1%
% Change in Foreclosure Rate (1 yr interval): 281%

Read on...
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Get Your House in Order in 2009:

We're all frugalistas now. With the economy in free fall, it's not merely trendy to reduce, reuse and recycle; it's a matter of survival. As we compiled this year's version of our annual list of things to do around the house, we kept two things in mind: (a) saving money, and (b) living sustainably, which often has the effect of (a) saving money. The old saying of a bygone era echoes: Use it up, wear it out, make it do or do without.
For lots of us, 2009 will be a year of hard decisions. Here's one that's easy: Make it a back-to-basics year. Clean out the clutter in your home and in your head, watch the pennies and focus on what's important. You'll end the year greener, leaner, cleaner, and with a happier demeanor.
Yours,
 

 
Michael C. Blickensderfer, Esq. 
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