economy

Like $4 a gallon gas, expenses in our local art world got a kick skyward, with this week's The Paint Rag, (which you can get email or in print with $55 membership with Central California Art Association membership) that last years free entry with deposit of $55 to $150 refundable if you stay all twelve hours, with ten percent commission, to $100 entry fee, $250 deposit, and fifteen percent this year. Gallery does need the money, but with $75 in for the Spring Show entry of five paintings, only three in, just one freebie to "black tie optional" opening gala, otherwise $25 to add to entourage, and I don't do tux or black tie, more street person..... this might be an opt out art and wine fest for me. As for buy tickets to gala, where I'd settle for lottery door prize of free entry to art and wine fest, its May 9, opening night and when they award the prizes on Spring Show.

There still remains greater than $10 trillion of untapped home equity stock. As fewer homes are sold, fewer loans are taken out to finance purchases and surviving mortgage firms are refocusing their market to getting homeowners to refinance. Lenders promote refinancing as a flexible option to reduce bills by lowering interest rates and stretching out payments. The problem with such a mortgage pitch is that it plays down or doesn’t disclose the fact that they are temporary. Critics say such an offer appeals to the same inclination that led many borrowers astray, living beyond their means.

Facing Foreclosure: general proceedings.

California is averaging 1 foreclosure out of 88 homes. Job loss, divorce and health problems are the main reasons people stop making mortgage payments. Many homeowners are also finding their fix rate near expiration or an adjustable rate payment greater then they can afford. Due to the state of the current housing market, many people are facing foreclosure. It’s all over the news, all those statistics and explanations about what happened doesn’t tell us what to do next. This series of blogs is intended to reach those who are looking for answers and common ground. Please feel free to post your own experience, questions and answers.