hiralal
05-29 12:05 AM
if your loan is denied while on EAD ..count yourself as lucky !!!
my advice ..be careful before you take a plunge when on EAD or on temporary visa (H1).
-----------------
MONDAY, MAY 25, 2009
OTHER VOICES
The Housing Hurricane Will Howl Again
By MIKE MORGAN | MORE ARTICLES BY AUTHOR
This is only a lull in the housing hurricane.
WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices
For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages didn't foreclose. The signs that blanket many neighborhoods have been posted by a fraction of the lenders. Now the rest of the banks are rushing to get their properties on the market.
[ov]
Christoph Hitz for Barron's
We're still supporting misguided programs that only add to inventory woes. They encourage builders to put up more homes and penalize anyone else trying to sell a home.
As a Florida real-estate broker who works with bank asset managers to dispose of foreclosed properties, I get a good view of this market. From December 2008 through mid-March 2009, the number of asset managers calling to discuss REO (real estate owned) properties on their client banks' books dropped by more than 80% from the level at which it previously had been running. In the past two months, however, asset managers have been busy, with most interested in how many properties we could handle at once.
Law firms for banks are once again lining up to file foreclosures and to process evictions. The asset managers we work with have warned us to expect a flood of properties, beginning in early June. This will hit as the number of potential buyers continues to dwindle. Builders, traditional sellers and investors who entered too early are already loaded with REO properties.
ALL OF THE OBAMA administration's attempts to revive, resuscitate and shock the housing markets into recovery have failed. Potential buyers can't purchase homes when they are losing their jobs, regardless of how attractive the credits and mortgages are. The price of homes will continue to fall until the properties are affordable for potential buyers.
If an investor could purchase a home and rent it out for close to breakeven, we might be getting close to a bottom. But we are nowhere close to that level in most critical markets. Until it is approached, prices will continue to fall. In fact, the negative cash flow now evident, along with the flood of properties coming into the inventory pool, warn of lower prices.
There's no light at the end of the tunnel yet. We're still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders' lobby, but it only adds to California's housing-industry problem. It encourages builders to construct dwellings we don't need, and it penalizes anyone else trying to sell a home.
Housing inventory soon will flood a market in which more than 500,000 homes are being built each year, even though the annual sales pace for new homes is closer to 300,000. We must also deal with a system clogged with impossible short sales, a surge of second and vacation homes being dumped, and third-wave flippers realizing that they entered the market too soon.
FOR THE BANKS, the back half of the hurricane will destroy balance sheets, unless the Obama administration comes up with another plan to mythically mark these assets on the books. Or we might see some chimerical plan to write down mortgage payments, or move toxic mortgages into a dark pool, or create some new illusion that glosses over the problem.
Our experience with banks' selling REOs is they realize about 50%-75% of what they initially think they will get. Moreover, their expenses to bring these properties to market and manage them are growing. Court systems bogged down with foreclosures are raising fees so that they can hire additional staff. More and more homeowners being evicted are stripping homes to the bone, removing appliances, fixtures, carpet, cabinets, air handlers, motorized garage-door openers and anything else that they can carry off or sell.
Unemployment presents a two-pronged problem. If homeowners lose their jobs, they have difficulty meeting mortgage payments. And a high jobless rate forces more people to put their homes on the market.
During the housing bubble, many second homes were purchased with the mythical equity from primary residences. These second homes are coming onto the market at an alarming rate, as many middle- and upper-class sellers need to raise cash. In some very exclusive private communities in Florida, where home prices are in the seven figures, more than 50% of the homes are on the market. (For more on the vacation-home market, see Cover Story.)
Unfortunately, there are no signs of recovery, despite the hype and the twisting of numbers in many media reports. The end of the unofficial moratorium on foreclosures, combined with rising unemployment, signals that the back half of this housing hurricane is only just beginning.
my advice ..be careful before you take a plunge when on EAD or on temporary visa (H1).
-----------------
MONDAY, MAY 25, 2009
OTHER VOICES
The Housing Hurricane Will Howl Again
By MIKE MORGAN | MORE ARTICLES BY AUTHOR
This is only a lull in the housing hurricane.
WE'RE OUT OF THE EYE OF THE HURRICANE, but here comes the back half of the storm. A lot of people think that we've seen the worst of the housing crisis. They're talking about green shoots and glimmers of hope, when they should be back in the storm shelter, preparing for a flood of inventory that will overwhelm the markets and produce another round of falling prices
For the past few months there has been a semi-moratorium on foreclosures. Most institutions with delinquent mortgages didn't foreclose. The signs that blanket many neighborhoods have been posted by a fraction of the lenders. Now the rest of the banks are rushing to get their properties on the market.
[ov]
Christoph Hitz for Barron's
We're still supporting misguided programs that only add to inventory woes. They encourage builders to put up more homes and penalize anyone else trying to sell a home.
As a Florida real-estate broker who works with bank asset managers to dispose of foreclosed properties, I get a good view of this market. From December 2008 through mid-March 2009, the number of asset managers calling to discuss REO (real estate owned) properties on their client banks' books dropped by more than 80% from the level at which it previously had been running. In the past two months, however, asset managers have been busy, with most interested in how many properties we could handle at once.
Law firms for banks are once again lining up to file foreclosures and to process evictions. The asset managers we work with have warned us to expect a flood of properties, beginning in early June. This will hit as the number of potential buyers continues to dwindle. Builders, traditional sellers and investors who entered too early are already loaded with REO properties.
ALL OF THE OBAMA administration's attempts to revive, resuscitate and shock the housing markets into recovery have failed. Potential buyers can't purchase homes when they are losing their jobs, regardless of how attractive the credits and mortgages are. The price of homes will continue to fall until the properties are affordable for potential buyers.
If an investor could purchase a home and rent it out for close to breakeven, we might be getting close to a bottom. But we are nowhere close to that level in most critical markets. Until it is approached, prices will continue to fall. In fact, the negative cash flow now evident, along with the flood of properties coming into the inventory pool, warn of lower prices.
There's no light at the end of the tunnel yet. We're still supporting builders through misguided programs that are only adding to the inventory woes. California decided to offer a $10,000 credit to buyers of new homes, on top of the $8,000 federal credit. But California made the $10,000 available only for new homes purchased directly from builders. That shows the power of the builders' lobby, but it only adds to California's housing-industry problem. It encourages builders to construct dwellings we don't need, and it penalizes anyone else trying to sell a home.
Housing inventory soon will flood a market in which more than 500,000 homes are being built each year, even though the annual sales pace for new homes is closer to 300,000. We must also deal with a system clogged with impossible short sales, a surge of second and vacation homes being dumped, and third-wave flippers realizing that they entered the market too soon.
FOR THE BANKS, the back half of the hurricane will destroy balance sheets, unless the Obama administration comes up with another plan to mythically mark these assets on the books. Or we might see some chimerical plan to write down mortgage payments, or move toxic mortgages into a dark pool, or create some new illusion that glosses over the problem.
Our experience with banks' selling REOs is they realize about 50%-75% of what they initially think they will get. Moreover, their expenses to bring these properties to market and manage them are growing. Court systems bogged down with foreclosures are raising fees so that they can hire additional staff. More and more homeowners being evicted are stripping homes to the bone, removing appliances, fixtures, carpet, cabinets, air handlers, motorized garage-door openers and anything else that they can carry off or sell.
Unemployment presents a two-pronged problem. If homeowners lose their jobs, they have difficulty meeting mortgage payments. And a high jobless rate forces more people to put their homes on the market.
During the housing bubble, many second homes were purchased with the mythical equity from primary residences. These second homes are coming onto the market at an alarming rate, as many middle- and upper-class sellers need to raise cash. In some very exclusive private communities in Florida, where home prices are in the seven figures, more than 50% of the homes are on the market. (For more on the vacation-home market, see Cover Story.)
Unfortunately, there are no signs of recovery, despite the hype and the twisting of numbers in many media reports. The end of the unofficial moratorium on foreclosures, combined with rising unemployment, signals that the back half of this housing hurricane is only just beginning.
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honge_kamyaab
06-08 01:17 PM
Congratulations!!
Did you mean your PD is Mar'04. PERM since Jan'05. Am I wrong?
Is your labor RIR or non-RIR? Please let us know.
Did you mean your PD is Mar'04. PERM since Jan'05. Am I wrong?
Is your labor RIR or non-RIR? Please let us know.
vedicman
05-12 09:34 AM
Called all the offices this morning. Will post the feed backs later in the afternoon. It was encouraging with a few senators.
2011 Kia Forte 5 Door.
caydee
06-02 01:42 PM
Hi my son is going to turn 21 on June 6th, we had applied for EB3 labor certificate on in July and the priority date is july 19, 2005. The I-140 was applied and approved in a month, therefore he will turn 21 next month on the 6th because the subtraction of one month from his age due to delay by USCIS in processing the I-140. My question is that is there any sort of help for EB retrogression for the children affected, and may get aged-out. As well as any other way that my son can apply for his I-485.
Thanks
None of the bills being considered currently benefit children of would-be legal immigrants, while the children of illegal immigrants are protected by the proposed DREAM ACT. Please write to senators and house representatives highlighting the "age-out" problem.
Appreciate your contribution to IV.
Thanks
None of the bills being considered currently benefit children of would-be legal immigrants, while the children of illegal immigrants are protected by the proposed DREAM ACT. Please write to senators and house representatives highlighting the "age-out" problem.
Appreciate your contribution to IV.
more...
drona
07-21 06:45 PM
Southern California members, please join So Cal IV yahoo group here:
http://groups.yahoo.com/group/SC_Immigration_Voice/
Let's get members together and discuss future action items for So Cal.
You will need to request membership from the group. Please mention
the name you use on IV in your membership request.
Thanks.
http://groups.yahoo.com/group/SC_Immigration_Voice/
Let's get members together and discuss future action items for So Cal.
You will need to request membership from the group. Please mention
the name you use on IV in your membership request.
Thanks.
santb1975
06-02 09:35 PM
This is Great
Contributed $100 for June
Receipt ID: 47W850****
Contributed $100 for June
Receipt ID: 47W850****
more...
gctoget
08-08 02:19 PM
Hi,
There is going to be an Independence day celebration event at Pierce college ,Woodland hills on August 18th ,2007. Please participate and do not forget to visit the Immigrationvoice.org booth for more information on our non-profit organization.
See you all there!
There is going to be an Independence day celebration event at Pierce college ,Woodland hills on August 18th ,2007. Please participate and do not forget to visit the Immigrationvoice.org booth for more information on our non-profit organization.
See you all there!
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ind_game
05-19 10:33 AM
ANOTHER UPDATE
soft LUD on my second MTR for 05/18/2009
soft LUD on my I-485 for 05/18/2009
But the content remains the same:
as "Case received and pending" on my second MTR
as "Denial Notice Sent" on my I-485
soft LUD on my second MTR for 05/18/2009
soft LUD on my I-485 for 05/18/2009
But the content remains the same:
as "Case received and pending" on my second MTR
as "Denial Notice Sent" on my I-485
more...
rsdang
04-02 12:00 PM
villamonte6100 please read the first statement again - I was agreeing with D-E-D that USCIS IS GOOD...
Frankly I am not Australian and I dont care about the friendship your country has with US. Every Country is sucking up to USA for favourable relationship...
D-E-D's comments - you must be from india and corruption in India is "Trashing" India in my eyes... every country has corruption (you will find Australia and USA on that list as well... granted its all relative) some more and some less. D-E-D comments had a condesending tone for India and that is not cool...
BTW - If Australia is so then why do you want to be a Sepo so bad... Jokes apart - I agree with you that US is a great country and thats why I chose to move here... I hope you get your green card soon... before me? time will tell...
Frankly I am not Australian and I dont care about the friendship your country has with US. Every Country is sucking up to USA for favourable relationship...
D-E-D's comments - you must be from india and corruption in India is "Trashing" India in my eyes... every country has corruption (you will find Australia and USA on that list as well... granted its all relative) some more and some less. D-E-D comments had a condesending tone for India and that is not cool...
BTW - If Australia is so then why do you want to be a Sepo so bad... Jokes apart - I agree with you that US is a great country and thats why I chose to move here... I hope you get your green card soon... before me? time will tell...
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lifesucksinUS
08-13 03:56 PM
I am sorry but is the September visa bulliten out? What is the status for EB2..
Thnx
Thnx
more...
amitjoey
06-05 04:28 PM
There is a lot of merchandise under $20 that members can buy, proceeds (only a small- portion) goes to IV.
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Buran
10-13 11:25 AM
For FY2006 (Oct 1st, 2005 - Sep 30, 2006) a total of 30,512 Schedule "A" visas were used.
http://www.dhs.gov/xlibrary/assets/statistics/yearbook/2006/table07d.xls
Schedule "A" was current from June 1, 2005 till October 31, 2006
According to DHS statistics 5,125 schedule "A" visas were used in FY2005 (June 1st, 2005 - Sep 30, 2006).
http://www.dhs.gov/xlibrary/assets/statistics/yearbook/2005/table07.xls
So, from June 1, 2005 till September 30, 2006 only 36,367 Schedule "A" visas were used.
Now if 50,000 were available under schedule "A" what happen to 50,000-36,367=14,363 visas? I doubt very much that so many petitions were filed in October 2006 - the last month when this category was current and for new applicants the only option was AOS, even considering the fact that consulates conducted interviews in October, 2006 and November, 2006 they could not use 14,363 visas! Especially considering the fact that not all applications got approved (because of the Visacreen, etc).
http://www.dhs.gov/xlibrary/assets/statistics/yearbook/2006/table07d.xls
Schedule "A" was current from June 1, 2005 till October 31, 2006
According to DHS statistics 5,125 schedule "A" visas were used in FY2005 (June 1st, 2005 - Sep 30, 2006).
http://www.dhs.gov/xlibrary/assets/statistics/yearbook/2005/table07.xls
So, from June 1, 2005 till September 30, 2006 only 36,367 Schedule "A" visas were used.
Now if 50,000 were available under schedule "A" what happen to 50,000-36,367=14,363 visas? I doubt very much that so many petitions were filed in October 2006 - the last month when this category was current and for new applicants the only option was AOS, even considering the fact that consulates conducted interviews in October, 2006 and November, 2006 they could not use 14,363 visas! Especially considering the fact that not all applications got approved (because of the Visacreen, etc).
more...
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Libra
07-06 12:35 PM
Yeah because we already sent applications before bulletin revised:D
Something is cooking and they try to cover their as.... before the legal action takes its stand....:-)), but it is too late for them..
Something is cooking and they try to cover their as.... before the legal action takes its stand....:-)), but it is too late for them..
tattoo Both the sedan and 5-door
garika
07-20 09:12 AM
Voting seems to be on political lines. Democrats probably didn't want to yield any ground because of their dear CIR failure. We need a targeted campaign (strategy) on the Democrats - Hillary spoke very favourably to the Indian student community recently about H-1B and immigrant visas but her vote is not in line with her statements
more...
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aristotle
07-20 05:05 PM
My take is that Sen. Cornyn's bill is too ambitious and tries to solve ALL the problems. It is never going to fly, especially in this political environment.
We should focus on EB retrogression relief and try to get in only the absolute minimum relief needed to eliminate current backlogs.
In my opinion, this is the absolute minimum:
1) Clear DOL backlogs in BECs
2) Recapture lost visa numbers
3) Dont count dependants
4) Raise per-country cap to 10%
If we can only these rolled in to amendment, it should be easy to pass. We can start an awareness initiative to educate the senators and ensure it passes. If we shoot for too much, its next to impossible. Thats the sad reality.
We should focus on EB retrogression relief and try to get in only the absolute minimum relief needed to eliminate current backlogs.
In my opinion, this is the absolute minimum:
1) Clear DOL backlogs in BECs
2) Recapture lost visa numbers
3) Dont count dependants
4) Raise per-country cap to 10%
If we can only these rolled in to amendment, it should be easy to pass. We can start an awareness initiative to educate the senators and ensure it passes. If we shoot for too much, its next to impossible. Thats the sad reality.
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forgerator
12-10 05:06 PM
I am with you Almond. After waiting for 12 long years in USA and 8 long years for a GC, the tunnel is still dark.
Same here. Been in the States since 1998. They should give honorary GCs just for completing 10 legal years of being in this country. :mad:
Same here. Been in the States since 1998. They should give honorary GCs just for completing 10 legal years of being in this country. :mad:
more...
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needhelp!
09-11 11:27 AM
coopheal,
Thank you for you generosity!
Thank you for you generosity!
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dtekkedil
10-01 04:26 PM
I am curious..
why USCIS/ DOL needs a law to re-capture visa # which were not used in previous years ?
I mean Congress already authorized these ? Canot DOL/ UCIS make a judgement based on their own ?
thanks,
There is no law to allow re-capture of visa numbers as of yet. In fact it says the opposite in the existing laws - That the visa numbers may not be re-captured.
There has been one case of visa recapture law passed during the Clinton administration and they did not allow a rollover recapture (I believe they recaptured the visa numbers that were lost between 1995 and 2000 only (please correct me if I am wrong about the years))
why USCIS/ DOL needs a law to re-capture visa # which were not used in previous years ?
I mean Congress already authorized these ? Canot DOL/ UCIS make a judgement based on their own ?
thanks,
There is no law to allow re-capture of visa numbers as of yet. In fact it says the opposite in the existing laws - That the visa numbers may not be re-captured.
There has been one case of visa recapture law passed during the Clinton administration and they did not allow a rollover recapture (I believe they recaptured the visa numbers that were lost between 1995 and 2000 only (please correct me if I am wrong about the years))
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Green.Tech
06-04 11:51 PM
Folks, the bills are going to be taken to the next level soon...We don't have much time....Please contribute financially for this cause so we can all get GC's sooner than later...
Who knows when our next opportunity will come!
Who knows when our next opportunity will come!
SEP03NY
08-12 04:05 PM
One of my friend got receipt for I-140 and I-1485, He send on July 30th to Nebraska Service center. I have send on the 2nd July still waiting.
Thanks
Thanks
desi3933
09-15 11:49 AM
Mujhe to aam kahne se matlab hai... (As long as the visas are available, I don't care):D
I am with you and willing to share the cost.
Good Luck.
Abhi to saare aam khatam ho gaye hai.
(Translation - Right now all the visa numbers are gone for your PD).
I am with you and willing to share the cost.
Good Luck.
Abhi to saare aam khatam ho gaye hai.
(Translation - Right now all the visa numbers are gone for your PD).
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