You are currently browsing the monthly archive for January 2007.
Investment plans in Mecklenburg nearly double previous record
If the development boom occurring across Mecklenburg needs any confirmation, the Charlotte Chamber has it. New and expanding businesses announced plans during 2006 to invest nearly $4.1 billion, almost doubling the previous record of $2.2 billion set in 1998. “What that says to me is that we are building the infrastructure for continued growth,” said Tony Crumbley, the chamber’s vice president of research.
Charlotte Observer; Sun, Jan. 21, 2007
On the shores of Lake Erie, the city of Buffalo and other communities have withered. Two-thirds of cities and towns in upstate New York lost population this decade. Several games of the region’s beloved Buffalo Bills were blacked out locally this season because of unfilled seats. The local Catholic diocese is closing schools and churches. Since its 1950s high, Buffalo’s population has declined by more than half, to around 280,000. Meanwhile, since 2000, Charlotte has added 46,000 residents.
Big News from Congress…
As you probably know, Private Mortgage Insurance (PMI) is required anytime a loan is taken out with a higher “loan to value” ratio of 80%, as the loan is riskier to the lender.
Mortgage Insurance allows a consumer to purchase a home with little or no down payment, or refinance at higher loan to values than 80%…but the beneficiary of the Mortgage Insurance is the lender, as it only provides coverage to the lender to protect against financial loss should the homeowner default on the loan.
