My mom would say

In God we trust, the rest pay cash.

As a kid I did not understand what she said or meant.

As an adult, now, watching the global fiasco unfold over lending and borrowing, I now understand.

Do others?

Kinda like Whimpy on the Popeye cartoons, for a hambuger today I will pay you on Tuesday.

Tuesday is here and we can’t pay for what we borrowed, so the solution, do the same as we always have, borrow and spend, to buy more and borrow more to spend more.

Summer vacation is a time for reading, and my friends come to me to borrow books because I have so many more than most people. In their innocence, they have no idea what I go through in lending a book. They don’t understand that I think of myself as offering them love, truth, beauty, wisdom and consolation against death. Nor do they suspect that I feel about lending a book the way most men feel about their daughters living with a man out of wedlock.
—  Anatole Broyard

Can exposing past examples of discrimination prevent those in the future? This week’s Design and Violence blog post looks at a map of California neighborhoods that have been labeled “high-risk” by lenders.

[Richard Marciano, University of Maryland, David Goldberg, University of California Humanities Research Institute, Chien-Yi Hou, Rosemarie McKeon. T-RACES (Testbed for the Redlining Archives of California’s Exclusionary Spaces). 2010. AJAX, Apache 3.0, HTML 4.0, JavaScript 1.7, MySQL 5.0, and XML. Image courtesy the designers]

Are you planning to refinance your auto?If so, then you will come across various lending alternatives Auto loan refinance is useful for many reasons.There are many people who are unaware of the fact that refinancing your car is possible these days.Certainly, there are many people, who have sub prime car loans at higher interest rates, auto loan refinance might be an intelligent decision.Auto loan refinance for bad credit is a great choice for those who hold auto loan with low credit records.This is simply due to the fact that refinancing loan can lower the rates of auto financing that they are disbursing and improve their opportunities of paying their financial debts off.


Barclays launches lending clinics in the UK to bolster small business confidence. Dr Swede AVEDA Exclusive Salons are selected to front the campaign. Sullivan Marchant (Partner) in ‘The Business Manager’s Story – Supporting the Application’.

Small business lending "finally turning the corner": PayNet

That’s according to new data based on lending activity from PayNet, which also showed the rates of startup activity decreased by 2 percent in 2010 from the year earlier.“We’re finally turning the corner,” said William Phelan, the president and founder of Chicago-based PayNet, which tracks loan information from the country’s largest small business lenders. “We’re starting to see net new startups emerge. Jobs will eventually come from those startups."PayNet estimates that some 200,000 to 300,000 net new companies will be created this year, as the rate of business failures drops, Phelan said.The amusement and recreation sectors, which include bars, restaurants, and travel-related services, generated the highest number of new businesses last year."People are sick of being down and they’re just enjoying themselves more,” Phelan said. “That’s a natural reaction during a recession."Startup additions also came from real estate services, including companies to process high numbers of foreclosures, and agricultural services, including those that help U.S. farmers support the ethanol industry and ship more grain overseas to emerging markets, Phelan added.Sectors with the largest decrease in 2010 startup activity included furniture, home-furnishing stores, insurance agents and brokers, and retail food stores, PayNet data found.

You might have heard some buzz about FHA loan limits reverting back to a lower level, or what they were before congress passed the stimulus package in 2008. The average decline in loan limits would be more than $68,000 with only eight states with no impact. Every other state will see a drop in loan limits, and therefore a corresponding drop in the availability and affordability of mortgage credit. Basically, if congress does not act by October 1st, there will be one more hurdle for the housing market. Tell congress to take action now!

Want to know more or have question about your neighborhood real estate market? I would love to talk real estate with you! Contact me at carrie@nathan-grace.com

UPDATE 1-China's lending, FX reserves growth slow

* Loans, M2 growth slow as Beijing keeps monetary policy tight (Adds details, quotes)By Langi Chiang and Koh Gui QingBEIJING, Oct 14 (Reuters) - China’s foreign exchange reserves grew at a surprisingly tepid clip last quarter to $3.2 trillion after the stockpile suffered a drop of nearly $61 billion in September on an outflow of speculative funds and a skidding euro.Data also showed China’s bank lending and money growth cooled more than forecast in September, suggesting Beijing kept monetary policy on a tight leash in the month to contain price pressures.“Particularly in September, there was a big drop in stock markets, global investors repatriated some money from emerging countries including China,” said Banny Lam. “But this is temporary."Although China’s ballooning reserves are often seen as a sign of its growing wealth, some analysts say they underscore Beijing’s problem of excess cash, which fuels price pressures.In a sign that inflation-wary Beijing kept monetary conditions tight in September, banks were shown to have lent 470 billion yuan ($73.6 billion) in yuan loans, lower than August’s 548.5 billion yuan.Money and loan growth take centre stage in China’s monetary policy as they are controlled by Beijing to manage inflation.The broad M2 measure of money supply, M2, rose 13 percent from a year ago, slowing further from 13.5 percent in August.That is the slowest pace since October 2001, and marked the sixth month in a row M2 growth came in below the government’s own target for 2011 of 16 percent.Economists had expected foreign exchange reserves to hit $3.305 trillion at the end of September and expected loan currency loans of 532.5 billion yuan and M2 growth of 13.8 percent.Lending and money growth have slowed steadily this year as the People’s Bank of China steered monetary conditions back to normal after unleashing an extraordinary surge in bank credit in 2009 to counter the global financial crisis.However, official lending data published by Beijing is not all encompassing.A thriving underground lending market that charges exorbitant rates has blossomed as lenders and borrowers look for ways to beat the rules and satiate firms’ thirst for cash.Data out on Friday showed annual inflation eased a shade in September to 6.1 percent from August’s 6.2 percent, but still within sight of three-year highs of 6.5 percent hit in July.Many analysts say elevated price pressures should deter Beijing from loosening policy reins anytime soon, although a slight relaxation including boosting lending to small firms is likely if push comes to shove.But any further policy tightening is also unlikely at this point. Data earlier this week showed China’s exports growth slowing to seven-month lows as Europe’s debt crisis chilled global demand.Since October 2010, Beijing has raised interest rates five times and banks’ reserve requirement ratios nine times. ($1 = 6.382 Chinese Yuan)

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