Monthly Archives: April 2010

Directors elected at Farmamerica annual meeting

Five directors were elected at the 2010 annual meeting of the Minnesota Agricultural Interpretive Center Farmamerica.

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Who Is The Technology Helping?

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Bank of America Proposes No Payment Plan to Unemployed Homeowners

A concept that has been causing quite a stir around the country is Bank of America’s new proposal to suspend an unemployed homeowner’s mortgage payments for 9 months while the borrower looks for a job. As reported several weeks ago by The Charlotte Observer, Bank of America has applied for regulatory approval of a new program designed to give relief to struggling homeowners who are collecting unemployment benefits. The only problem is the proposal contains a nasty twist. If the homeowner can’t find a job in 9 months, the homeowner would have to give the bank a deed-in-lieu of foreclosure.

But there are other inherent problems with this proposal. First, it would apply only to homeowners who receive unemployment benefits. The self-employed do not qualify for unemployment benefits. Second, homeowners with equity would vehemently oppose handing over a deed to the bank.

Moreover, why would people agree to do a deed-in-lieu of foreclosure when a short sale might be a better option for them? According to Fannie Mae guidelines, a short sale seller may qualify to buy another home in 2 years versus 4 years under a deed-in-lieu. On the other hand, Bank of America is known for not following through on foreclosures. I personally know many sellers in default on Bank of America loans in Sacramento who haven’t made a payment for more than a year, and the bank has not yet auctioned off their homes.

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Bank of America Proposes No Payment Plan to Unemployed Homeowners originally appeared on About.com Home Buying / Selling on Friday, April 30th, 2010 at 05:00:34.

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Minnetonka plans $4M fitness center upgrade

Minnetonka officials say the renovation will bring a new entrance, pool improvements, exterior work, an expanded parking lot, new locker rooms, and other improvements to the Williston Fitness Center at 14509 Minnetonka Dr.

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MedNet Solutions opens new HQ

Minnetonka-based MedNet Solutions announced the opening of its new corporate headquarters located at 110 Cheshire Lane, Suite 300, Minnetonka.

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Christopher Straub shows off collection

Shakopee resident Christopher Straub, who made it to the top five in Season Six of “Project Runway,” debuted his first post-reality TV collection at the St.

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Michael Foye Joins Vanco Services, LLC as Senior Vice President

MINNETONKA, Minn., April 28, 2010 /PRNewswire via COMTEX/ — Vanco Services, LLC, a leading provider of electronic payment solutions, announced today the appointment of Michael Foye to the position of Senior Vice President.

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BMW of Minnetonka’s $30 million facility opens

BMW’s newest dealership opened in Minnetonka on Wednesday. The $30 million, 223,000-square-foot facility has room for 500 vehicles, 80 work bays and a 12-seat movie theater, according to a news release.

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Volunteer appointed to watershed

The Hennepin County Board has appointed Philip Kirkegaard of Minnetonka to serve on the Riley-Purgatory-Bluff Creek Watershed District, which coordinates management of water and related land resources within the areas generally tributary to Riley, Purgatory and Bluff creeks in southwest Hennepin and northeast Carver counties, according to a news …

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Attention William Kent Krueger fans a ” let us know if you want tickets

About once a month, we’ll ask two booksellers a ‘ one independent and one chain a ‘ for current best-sellers. The specific booksellers will change every month.

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