What Happens To VA Loan Fees And Charges If The Loan Is ...

There are a number of reasons why a borrower may have a VA loan canceled.

Sometimes the borrower simply has a change of heart about the loan or the property to be purchased with that loan. Other times a family emergency or other situation could required that major financial commitments be put on hold.

In other cases, the VA loan cancellation may not be the borrower?s idea at all; the seller could change his or her mind about the deal, a lender may decide cancel the loan before it has closed if the borrower?s job status changes suddenly or there is a major change in the borrower?s ability to pay the mortgage.

Regardless of the reasons why the loan might be canceled, the borrower naturally wants to know what happens to the fees and expenses paid. Does the VA loan applicant get a refund to all expenses?

Here?s what VA Pamphlet 26-7 says on the subject:

?What happens to Fees and Charges If the Loan Never Closes?

a. Itemized Fees and Charges

The borrower?s out-of-pocket expenses for itemized fees and charges already incurred, such as the appraisal and credit report, do not get refunded.

b. The One Percent Flat Fee

If the lender has already collected the one percent flat fee from the borrower, the lender must refund the fee. This applies to a loan that does not close for any reason, including the borrower going to another lender.?

That last line is an important one. Borrowers have the right to change lenders if they choose. A borrower who finds another willing lender who offers more competitive terms and conditions may well decide to go with the new bank instead?in such cases the lender may not penalize the VA loan applicant by withholding the one percent flat fee.

The ?no refunds? rule on expenses such as appraisals and credit reports is due to the fact that these fees are for services rendered. Those services must be paid for regardless of what else happens with the loan. If a service was given, it must be paid for.

Do you have questions about VA home loans? Ask us in the comments section.

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Source: http://activerain.com/blogsview/3475795/what-happens-to-va-loan-fees-and-charges-if-the-loan-is-canceled-

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Brothels rescue cash-strapped Greek soccer team

LARISSA, Greece (AP) ? The world's oldest profession is giving a whole new meaning to love of the game.

Players on a cash-strapped Greek soccer team now wear pink practice jerseys with the logos "Villa Erotica" and "Soula's House of History," two bordellos it recruited as sponsors after drastic government spending cuts left the country's sports clubs facing ruin.

Other teams have also turned to unconventional financing. One has a deal with a local funeral home and others have wooed kebab shops, a jam factory and producers of Greece's trademark feta cheese.

But the amateur Voukefalas club ? whose players include pizza delivery guys, students, waiters and a bartender ? has raised eyebrows with its flamboyant sponsorship choice.

"Unfortunately, amateur football has been abandoned by almost everyone," said Yiannis Batziolas, the club's youthful chairman, who runs a travel agency and is the team's backup goalkeeper. "It's a question of survival."

Prostitution is legal in Greece, where brothels operate under strict guidelines. Though garish neon signs advertising their services are tolerated, the soccer sponsorship has ruffled some feathers in the sports-mad city of Larissa. League organizers have banned the pink jerseys during games, saying the deal violates "the sporting ideal" and is inappropriate for underage fans.

Batziolas acknowledges the sponsorship took his team by surprise. "They didn't believe it in the beginning," he said. "But when they saw the shirts printed, they thought it was funny."

Near-bankrupt Greece is struggling to meet creditors' relentless demands to slash spending and keep the euro as its currency. As Greece heads toward a sixth year of recession, drastic budget cuts have hammered many ordinary people: Retirees have been left to cover their own medical expenses, children have lost school bus services, and sports teams have scrambled to find sponsors as businesses close under the burden of emergency taxes.

Brothel owner Soula Alevridou, the team's new benefactor, has already paid more than 1,000 euros ($1,312) for players to wear her jerseys. The team is appealing the game ban, but that doesn't worry the 67-year-old Alevridou, who says she's only in it because she loves soccer.

"It's not the kind of business that needs promotion," she said, dressed all in white and flanked by two young women in dark leggings at a recent game. "It's a word-of-mouth kind of thing."

Her businesses, plushly decorated pastel-colored bungalows where 14 women are employed, have weathered the country's financial disaster far better than most, and she readily acknowledges her success.

"If we don't help our scientists and athletes, where will we be?" she asked. "Greece has educated people, cultured people and good athletes. It's better to help them than take our money to Switzerland."

Alevridou watched in disappointment as her team lost its fourth straight game, 1-0, despite her promise to players of "a special time" at her businesses if they won.

"There's a lot still missing. We have no midfield," said Alevridou, a slightly built woman with a husky voice. "Many of our boys have jobs that keep them working at night. And if we have a game the following morning, they can't have a real presence on the pitch. ... They need more help."

They aren't the only team suffering. Greece's Amateur Athletics Federation suspended all its activities for several weeks earlier this year to protest funding cuts. And even the major soccer clubs sent most of their star players abroad this summer in the face of financial trouble and poor attendance, with fans no longer able to afford tickets.

Government cuts have hurt most of the teams in the amateur league in Larissa ? the majestically named Olympus, Hercules, Fearless and Sagittarius clubs, as well as Voukefalas, named after Alexander the Great's horse.

The impact of the crisis on sports is a major local concern. The town of 200,000 fielded the only professional club to ever break big-city domination of the league, winning the national championship in 1988. In 2007, Larissa FC also rebounded from bankruptcy for victory in the prestigious Greek Cup.

Voukefalas says it needs about 10,000 euros ($13,120) a year to meet expenses, and Alevridou has promised more cash.

"Here is where it all begins, with amateur sport. It's where the talent is bred," she noted. "I am a Greek woman, and I love my country."

She watched quietly, holding a cigarette and wearing a straw fedora with a leopard print band, as her team struggled.

"The team will get better," she said. "I'm certain of it."

_______

AP writer Costas Kantouris in Thessaloniki contributed to this report.

Source: http://news.yahoo.com/brothels-rescue-cash-strapped-greek-soccer-team-204836043--finance.html

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File-sharers also buy more music, says study

1 hr.

It seems counterintuitive, but a new study says that file-sharing music lovers in the U.S. also buy more music than their non-file-sharing counterparts.

The finding comes in a report,?"Copy Culture in the USA and Germany," from The American Assembly, which describes itself as?a?non-partisan public affairs forum, affiliated with Columbia University.

In the U.S., the average music file collection is 1,444 songs, the group says.?File-sharers in the U.S. have "roughly 37 percent" larger music collections than non-file-sharers, and "predictably,?most of the difference comes from higher levels of ?downloading for free? and ?copying from friends/family.? "

But, file sharers also have "significantly?higher legal purchases?of digital music than their non-P2P using peers???around 30 percent higher among US P2P users,"?wrote?Joe Karaganis?of the Social Science Research Council, which worked on the report.

"Our data is quite clear on this point and lines up with?numerous other studies: The biggest music pirates are also the biggest spenders on recorded music."

The?Recording Industry Association of America declined to comment on the study, but did refer NBC News to The NPD Group, which has done its own?research on the issue.

"We hear this argument all the time and it makes no sense," Russ Crupnick, NPD's senior vice president, industry analysis,?said in a phone interview.?

"Peer-to-peer users tend to be younger and more Internet-savvy, so the likelihood that would be buying digital files makes perfect sense. But you can't compare that to the entire population," he said. "Sixty percent of the population is over the age of 35, so you're kind of comparing peer-to-peer users with Baby Boomers who buy much, much less music."

In a report last March, NPD said 13 percent of Internet users downloaded music from a P2P (peer-to-peer) site, which is down from a high?of 19 percent in 2006, largely because of "industry efforts to combat illegal file sharing, and increased options for listening and downloading legally," Crupnick said at that time.

Aram Sinnreich, an assistant professor at Rutgers University?s School of Communication and Information, and author of the book,"The Piracy Crusade: How the Music Industry?s War on Sharing Destroys Markets and Erodes Civil Liberties," has yet another take on the issue.

He?told NBC News via email?he?believes that P2P music sharing tends to "spur?individual and communal interest in music, which increases awareness and interest in making purchases???of recordings, merchandise, event tickets and so forth."

??Via Gizmodo

Check out Technolog, Gadgetbox, Digital Life and In-Game on?Facebook,?and on?Twitter, follow Suzanne Choney.

Source: http://www.nbcnews.com/technology/technolog/file-sharers-buy-more-music-non-file-sharers-says-study-1C6496069

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Obama and Romney on the Couch

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Source: http://news.yahoo.com/obama-romney-couch-114238317--abc-news-politics.html

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New home construction increases sharply | Real Estate Industry News

By Dennis Norman, on October 17th, 2012

dennis-norman-st-louis-realtor-New home construction shot up in September with a 6.7 percent in building permits from the month before, an 11.0 percent increase in housing starts and an 8.5 percent increase in completed new homes.? The year-over-year increases were even more significant with a 27.3 percent increase in permits, 42.9 percent increase in starts and a 23.6 percent increase in completions!

This report is consistent with other recent reports and data on the housing market which supports that the housing market is definitely headed toward a long-overdue recovery.

Related posts:

  1. New home construction activity increases in August New home construction activity increased in August on all...
  2. New home construction activity picking up The U.S. Census Bureau and US Department of Housing...
  3. New home construction in May is up significantly from a year ago The U.S. Census Bureau and US Department of Housing...
  4. New home construction activity continues to increase The U.S. Census Bureau and US Department of Housing...
  5. New home construction activity in July sends mixed messages T?? U.S. Census Bureau ?n? US Department ?f Housing...

Related posts brought to you by Yet Another Related Posts Plugin.

Source: http://www.realestateindustrynews.com/new-homes/new-home-construction-increases-sharply/

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Aereo opens its streaming TV to Mac and Windows web browsers

Aereo starts streaming TV to Mac and Windows web browsers

If you'd wanted to watch Aereo's unique antenna-to-internet TV streaming until today, you had to tune in from an iOS device or Roku box. That's not a lot of choice for placeshifting, is it? A fresh update to the company's streaming service has widened the choices considerably for New Yorkers to include all the major browsers on Macs and Windows PCs. As long as you're using a recent version of Chrome, Firefox, Internet Explorer, Opera or Safari, you can catch up on Ion or Telemundo while you're checking email. About the only restrictions left are the continued lack of Android support and occasional lawsuits from traditionalist broadcasters.

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Aereo opens its streaming TV to Mac and Windows web browsers originally appeared on Engadget on Wed, 17 Oct 2012 21:40:00 EDT. Please see our terms for use of feeds.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/1po5mhXw6uc/

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ND man sells McJordan barbecue sauce for $10,000

FILE - In this June 9, 1996 file photo Chicago Bulls Michael Jordan stands during a break at the end of an NBA Basketball game against the Seattle SuperSonics in Seattle. A Bismarck, N.D., man who used to own McDonald's restaurants is about $10,000 richer after selling a 20-year-old container of McJordan barbecue sauce Monday, Oct. 15, 2012, to a buyer in Chicago. The sauce was used on McJordan Burgers, named for basketball icon in limited markets for a short time in the 1990s, when Jordan led the Chicago Bulls to six NBA championships. (AP Photo/Beth A. Keiser, File)

FILE - In this June 9, 1996 file photo Chicago Bulls Michael Jordan stands during a break at the end of an NBA Basketball game against the Seattle SuperSonics in Seattle. A Bismarck, N.D., man who used to own McDonald's restaurants is about $10,000 richer after selling a 20-year-old container of McJordan barbecue sauce Monday, Oct. 15, 2012, to a buyer in Chicago. The sauce was used on McJordan Burgers, named for basketball icon in limited markets for a short time in the 1990s, when Jordan led the Chicago Bulls to six NBA championships. (AP Photo/Beth A. Keiser, File)

FILE - In this Oct. 31, 1997, file photo Chicago Bulls guard Michael Jordan (23) drives past Boston Celtics Ron Mercer (5) during an NBA basketball game in Boston. A Bismarck, N.D., man who used to own McDonald's restaurants is about $10,000 richer after selling a 20-year-old container of McJordan barbecue sauce Monday, Oct. 15, 2012, to a buyer in Chicago. The sauce was used on McJordan Burgers, named for basketball icon in limited markets for a short time in the 1990s, when Jordan led the Chicago Bulls to six NBA championships. (AP Photo/Stephan Savoia, file)

(AP) ? A man who used to own McDonald's restaurants in North Dakota is about $10,000 richer after selling a 20-year-old container of McJordan barbecue sauce to a buyer in Chicago.

The sauce was used on McJordan Burgers, named for basketball icon Michael Jordan. The promotional item was sold in limited markets for a short time in the 1990s, when Jordan led the Chicago Bulls to six NBA championships.

Mort Bank, of Bismarck, saved the gallon jug of sauce after selling his McDonald's restaurants in Bismarck-Mandan and Minot in 1996.

"It was in my basement and I would look at it occasionally," he told The Bismarck Tribune. "I thought it would be worth something someday."

Bank advertised the sauce on eBay, saying: "A once in a lifetime chance to own the rarest of rare Michael Jordan and McDonald's collectible!" It sold for $9,995 Monday night to a buyer from Chicago whom Bank has not identified.

Bank told the Chicago Tribune that the buyer was not Jordan himself. Jordan opened a steakhouse in Chicago last year.

"I'm sure he's a Bulls or Michael Jordan fan, and hopefully he's not going to put it on his ribs or his burger," Bank told KXMB-TV of the buyer. "But it's up to him; he can do whatever he wants with it."

Bank said he has at least three storage units full of McDonald's memorabilia and other collector's items that he has been selling on eBay for three years. He has sold items to buyers as far away as China, Japan, Brazil and Europe, though never for as much money as the sauce garnered.

"I'm pretty ecstatic," he told the Bismarck Tribune. "You never know what is going to be a hot item."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/aa9398e6757a46fa93ed5dea7bd3729e/Article_2012-10-17-McJordan%20Sauce%20Sold/id-d29baeec13ee42fa850d07d53009e423

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From the Tips Box: Hanging Laundry, Cropped Photos, and To-Do Reminders [From The Tips Box]

Readers offer their best tips for carrying bunches of hanging clothes, cropping photos on the iPhone, and reminding yourself of your to-dos.

Don't like the gallery layout? Click here to view everything on one page.

Every day we receive boatloads of great reader tips in our inbox, but for various reasons?maybe they're a bit too niche, maybe we couldn't find a good way to present it, or maybe we just couldn't fit it in?the tip didn't make the front page. From the Tips Box is where we round up some of our favorites for your buffet-style consumption. Got a tip of your own to share? Add it in the comments, email it to tips at lifehacker.com, or share it on our tips and expert pages.

Source: http://feeds.gawker.com/~r/lifehacker/full/~3/tUbNFqvbYwA/

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AT&T and IBM create global cloud service for businesses | Networks ...

AT&T and IBM have announced a business agreement to deliver a highly secure, first-of-its-kind ?network-enabled? cloud service that uses private networks rather than the public Internet.

The companies are combining AT&T virtual private networking and IBM SmartCloud Enterprise+ cloud capabilities with technology from AT&T Labs to create a new, fast and highly-secure shared cloud service.

Targeted to Fortune 1000 companies globally, the service will be offered in early 2013 as a powerful new option for clients who are deploying cloud solutions that demand high levels of security and availability. Many businesses often cite security as a key inhibitor to cloud computing adoption.

When customers of the new service connect to IBM cloud computing resources across AT&T?s virtual private network, the innovative technology tightly integrates the security protections of both, allowing customers to quickly and reliably shift information or applications between their own data centers (private clouds) and this new cloud service. This is critical for businesses that want the flexibility of the cloud but also need to protect applications and data as they move between data centers and wired or wireless computing devices such as tablets, smartphones, personal computers, retail kiosks or other machine-to-machine devices.

For example, a financial services company using the new service could move and manage critical customer data between its and IBM's cloud data centers without the data ever leaving the security protections of the virtual private network.

AT&T?s technology dynamically allocates networking resources to computing resources, automating functions that are often performed manually. This allows the network and compute resources to rapidly scale or contract in tandem to support the fluctuating demand on systems that an online retailer might experience before, during and after the holiday buying season; or that a large employer might experience before, during, and after their annual employee health benefits enrollment period.

?AT&T and IBM are delivering a new, network-enabled cloud service that marries the security and speed of AT&T?s global network with the control and management capabilities of IBM?s enterprise cloud,? said Andy Geisse, CEO of AT&T Business Solutions. ?This new service gives companies yet another way to innovate, create new value, and transform their businesses and industries.??

A key element of the cloud service is IBM SmartCloud Enterprise+, an IBM Infrastructure-as-a-Service optimized for mission-critical, enterprise workloads. As a managed and hosted cloud environment, it offers many advantages of a private cloud ? such as choice of dedicated physical servers and storage ? but also adds the scalable flexibility of a public cloud.

Customers using the new service will have access to IBM SmartCloud Enterprise+? s broad spectrum of secure managed services and be able to run processes in both public and private cloud models.

?As more organizations realize that cloud can be secure, easily managed, and a key part of their business strategy, cloud will quickly evolve as a tool for innovation rather than just for infrastructure,? said Erich Clementi, senior vice president, IBM Global Technology Services. ?We believe this new service from two recognized leaders in cloud computing provides a compelling way for large organizations to exploit cloud?s transformational power.?

The new cloud service also includes a variety of customization options to meet specific customer needs; and committed service-level agreements (SLAs) aligned to business and usage requirements to increase accountability for response time and availability.

Other features include more than 70 automated built-in security functions; and high levels of security extended to wired and wireless devices authenticated to the customer?s virtual private network.

Source: http://www.networksasia.net/content/att-and-ibm-create-global-cloud-service-businesses

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