Coordinated terrorist attack hits London

Thursday, July 7, 2005

Three bomb explosions have hit London Underground trains, and a further bomb destroyed a bus in the city centre. The Metropolitan Police Service has initially confirmed that 33 people have been killed in the four explosions on London‘s transport system this morning, and said the overall number of wounded was as high as 700, in what are believed to be terrorist attacks. (See later reports in the box at the side for later announcements made on following days.)

The first reports were of an explosion at 08:49 BST (UTC+1) on the Hammersmith & City Line between Liverpool Street station and Aldgate East. Explosions also occurred on a train between King’s Cross and Russell Square and another at Edgware Road. The explosions are currently being reported, and described by Prime Minister Tony Blair, as being “terrorist attacks.” Traces of explosives were found at two of the sites according to the BBC.

Scotland Yard has confirmed one explosion onboard a double decker red London bus travelling south outside the British Medical Association on Tavistock Square. Police cannot confirm whether this bomb was intended for another train and accidentally detonated aboard the bus instead.

Pundits are speculating the attack was co-ordinated by al-Qaeda. Dr. Shane Brighton, an intelligence expert at the Royal United Services Institute for Defence, claims that, “If what we are looking at is a simultaneous bombing — and it does look like that — it would very certainly fit the classic al Qaeda methodology.” Two militant Islamist groups are reported to have claimed responsibility for the blasts.

In a special news conference at 15:30 BST, July 7, Deputy Assistant Commissioner Brian Paddick of the Metropolitan Police confirmed 33 fatalities so far, 45 critical/serious injuries and approximately 300 minor injuries.

At 08:51 BST a bomb exploded on a Circle Line Underground train 91 metres/100 yards into the tunnel from Liverpool Street. Seven are known to be dead.

At 08:56 BST a bomb detonated on a Piccadilly Line train between King’s Cross and Russell Square. Twenty-one are dead; it is believed more bodies remain in the tunnel, which is one of the deepest on the Underground network.

At 09:17 BST a bomb exploded on another Circle Line train between Edgware Road Station and Paddington. The blast blew a hole in a wall, and another train was hit by debris from it. A third train is also involved. Five are known to be dead.

At 09:47 BST a No. 30 bus (Hackney – Marble Arch) blew up at the junction between Tavistock Square and Woburn Place outside the BMA building. It has been estimated that thirteen people died.

Earlier, quoting the Associated Press, Yahoo News had reported “at least 40 people were killed and more than 350 wounded”. Also, the same report says “two U.S. law enforcement officials said at least 40 people were killed”.

Several hotlines have been set up for those concerned about friends or relatives. A list of these numbers are below. The agencies setting up these hotlines stress that callers should try to reach their friends or relatives first before contacting the hotline. In addition, to prevent swamping, they also have asked that only genuine callers use the hotlines.

The first reports that came in were from London’s Liverpool Street station talking of an explosion on the Metropolitan Underground line and the station being evacuated. Later a BBC and a Wikinews reporter spoke of a bus being destroyed by a bomb blast in Tavistock Square outside the British Medical Association offices.

The initial reports of explosions were believed to have been the result of power surges. This was because the first indication of any disturbance was the opening of circuit breakers in the Underground, which was observed in the control room. This is usually due to a power surge, but in this case the actual cause was damage to the track circuits by bombs.

At approximately 10:50 BST reports were made that there was an additional, as yet unidentified explosion along Houndsditch, near Liverpool Street Station. Police were also warning pedestrians at Russell Square that a series of controlled explosions would be made shortly.

BBC News 24 has reported additional unspecified incidents at Brighton, Luton, and Swindon. These stations have been closed and there has been no official confirmation of the nature of the incidents, if any actually occurred.

The Metropolitan Police Commissioner, Sir Ian Blair told London Live that there have been “events” at Edgware Road, Kings Cross, Liverpool Street, Russell Square, Aldgate East and Moorgate.

At 11:30 BST (UTC+1) St. Mary’s Hospital released a statement that they have admitted 4 critical, 8 severe and several minor injures. Injuries are limb damage, cuts, burns, head injuries and chest problems.

The exact causes of the explosions are still unknown. Initially, it was thought that it was some technical fault. However, the police later suspected terrorist attacks. Police are still unsure if the bombs were simply left in packages or whether there were some sort of suicide attacks.

According to the Associated Press, a senior Israeli official said Scotland Yard told Israel minutes before the explosions that it had received warnings of possible “terror attacks”. Sky News says this has been denied by Scotland Yard. Sir Ian during his interview with Sky stated that there had been no specific intelligence.

German news magazine Der Spiegel (as well as unconfirmed information from CIA) has reported that a letter from an organization calling itself “Secret organization – Al Qaeda in Europe” has appeared, claiming responsibility for the bombings. See our related story for more details.

A broadcast interruption on MTV Thursday at 16:00 UTC said a group naming itself “Al Jihad Network in Europe” claimed responsibility for the bombings.

A police spokeswoman has confirmed two deaths at Aldgate station. Television and radio reports are now saying there have been four separate incidents with up to 150 casualties, speculating that the blasts may be related to terrorist activity.

The Associated Press is reporting that a US law enforcement official has put the toll at 40 killed.

Emergency Services press conference at around 15:15 BST (UTC+1) confirms at least 33 fatalities, not including those resulting from the incident on the number 30 bus.

The CBC reports at least 52 fatalities, including 17 from the incident on the number 30 bus according to media reports.

It has been reported that in the early stages of the attack, information was only distributed to civilians within the center of London, and authorities had a specific policy of not providing information to the global media, in case any information provided to the media could be used by additional terrorists to target vulnerable locations during an evacuation procedure. This was probably partly to blame for the early confusion amongst the media.

Emergency services are also attending King’s Cross and Liverpool Street Station.

The entire tube network and all buses within zone 1 have been suspended and many buses are now being used to ferry the ‘walking wounded’ to the hospitals. The underground will be closed for an indefinite period of time, but according to Fox News Channel United States, the closure will last at least for all of today.

All emergency services are responding en-masse to a “major incident” and are responding only to life-threatening emergency calls. Patients are being turned away at hospitals to free room for those injured by the attacks.

The London Congestion Charge has been suspended for the 7th and 8th of July.

The Jerusalem Post reports that the Army was dispatched to seal off the Israeli Embassy as Israel’s Finance Minister is present for a conference. The army have reportedly been involved with rescues at Covent Garden. Police have denied this report (originally made on Sky News).

The police have cordoned off roads around Upper Woburn Place following a massive explosion on a bus in the vicinity. Traffic is at a standstill in many places in the capital. Defra‘s security branch are reporting that police are advising everyone in London not to use any public transport and the Cabinet Office are advising staff to remain in offices until further notice. A further email sent to all staff by Defra’s permanent secretary indicates that Charing Cross and Waterloo mainline railway stations have been closed down for police searches, and that other stations could close for similar reasons later today.

As at 09.30 BST, Kings Cross Thameslink was experiencing delays and overcrowding but no serious difficulties.

Businesses have been hit by the uncertainty of the events – the FTSE had fallen almost 3.5% by 11.47UTC ([1]), but started to recover a little by early afternoon. The value of the pound has dipped, and the London crude oil price has dropped. International markets are also suffering, with falls in share indexes felt as far as South Africa. See our related story for more details.

According to Fox News Channel United States, all London schools are in lockdown and students are being kept in schools.

The Authorities are asking people in London to stay where they are, indoors if possible. Take inside any bins or bags of rubbish they have left out for collection, providing they check their contents first. Arrangements are also being made for when schools finish as schools have been asked to keep pupils safe inside until the usual school closing time.

The UK Highways Agency has stated that at the request of the police, the message “Avoid London – Turn on Radio” is being displayed on electronic motorway message signs on the M25 and other major routes approaching London.

The US Homeland Security Department asked authorities in major cities for heightened vigilance of major transportation systems. Department spokesman Roehrkasse indicated that the department had not received any indications of plans that this type of attack is planned in the United States. Later, the department raised the terror alert level to orange. See our related story for more details.

A joint statement of the G8 leaders was made by Tony Blair at a press conference, also attended by US President George Bush and Russian President Vladimir Putin. See our related story for more details.

The Queen and many other world leaders have also issued statements. See our related story for more details.

Mayor Ken Livingstone’s full statement on the London bombings 07-07-2005:

Retrieved from “https://en.wikinews.org/w/index.php?title=Coordinated_terrorist_attack_hits_London&oldid=4460858”

Irish economy sees biggest contraction in decades

Thursday, March 26, 2009

The economy of Ireland shrank by 7.5% in the last quarter of 2008 compared to the same period a year previously, according to official statistics. The decline is the worst in decades. For the entire period of 2008, the economy contracted by 2.3%, the first loss since 1983.

The construction industry has suffered badly as a result of the recession, with a 24% fall in output, the largest decline ever recorded. Industrial output plunged at an annualised rate of 12.5%.

Unemployment has also shot up. It currently stands at around 10%, twice as high as the levels reported last year. The economy has also experienced deflation.

Alan McQuaid, the senior economist at Bloxhams Stockbrokers, said that the statistics “highlight the extent of the Irish economic out-turn and the huge task facing the Government in attempting to get the country’s public finances back in order.”

“Quite simply, there is no hope of sorting out our budgetary position by 2013 without economic growth, and we are a long way off that at the moment,” McQuaid said, noting that “(…) one has to go back to the 1956-1958 period for the last time we had a decrease of this magnitude.”

“(…) As things currently stand, it is not hard to see double digit declines in real GDP over the coming quarters,” he said. “The extreme weakness of the economy at this point in time must also raise serious questions marks about the wisdom of the Government’s intention of imposing further income levies on already hard-pressed consumers and PAYE workers. All that can be said is that the outlook for economic output and employment in 2009 are fairly bleak indeed.”

The Irish government is creating an emergency budget, due to be unveiled in April.

Retrieved from “https://en.wikinews.org/w/index.php?title=Irish_economy_sees_biggest_contraction_in_decades&oldid=797863”

Aviation Consulting Services The Basis For Demand

The changing dynamics in the aviation sector have created a mandate for aviation asset owners, financial institutions, airport sponsors and service providers to think of innovative ways to maximize the value of their assets.

For efficient operations in the aviation sector, it is very important to consistently develop and execute cost-effective operating plans. Often an outside advisor is needed to spark this innovation and serve as an additional resource to drive execution.

This is when the help of aviation consulting and advisory services provide the most value. These are companies that offer help and consultancy services for their clients, catering to their diverse needs.

How Does Aviation Consultancy Work?

Often it becomes difficult to define the nature and scope of the core issue causing a competitive disadvantage or operational inefficiency. This is where an outside party can offer an independent view without disrupting the organizational dynamics of the existing management team and employees.

Aviation consultancy services primarily focus on operational efficiency and enhancing brand value. Beginning with conducting candid assessments and evaluations, the scope of an engagement varies from assisting clients in creating various management plans to advising and raising capital. They also specialize in offering advice based on recent transactions within various aviation market segments.

The Services:

An aviation consulting firm may provide a diverse portfolio of services. Some of these key areas are:

  • Aviation management consulting
  • Operational evaluations
  • Competitive market studies
  • Financial assessment
  • Organizational evaluations
  • Leasehold advisory services
  • FBO management planning
  • Rent studies

Whether the asset owner needs to increase revenues, drive efficiencies or rationalize costs, an experienced aviation consulting firm can provide tactical and strategic insights. An expert consultancy firm offers a wide range of solutions designed to meet their client’s custom needs.

Experienced aviation consultants have access to industry leading data allowing them to introduce best practices and also have an extensive network of global contacts. They are capable of driving the best outcome through a number of different structures.

How to Find a Good Service?

Aviation consultants are known for providing expert service in almost all industry segments. This can be aviation infrastructure management, aviation infrastructure development, and aircraft management and advisory services in addition to many more. The best aviation consultants are known for their deep on-airport experience and the ability to quickly ascertain the key competitive dynamics.

If any aviation stakeholder is planning to launch a new service or wants to expand a current product line into a new market in an organized and dedicated approach, an experienced aviation consultant can bring resources and experience to expedite the process. They are capable of providing bespoke solutions to meet the needs of the clients.

The team chosen should have deep experience and a proven track record of leading aviation FBO management services, aircraft charter and management services and be a recognized leader in the industry.

The most experienced consultants have a wide variety of aviation clients globally and have a proven track record of handling some of the most complex aviation projects across industry segments and economic cycles.

Contact US

Global Aviation Infrastructure LLC

Website:

Call: +1 (843) 412-6881

Israel seizes ship claimed to be carrying weapons for Gaza

Wednesday, March 16, 2011

Israeli military forces today seized a ship claimed to be carrying weapons bound for the Gaza Strip.

The ship, a German-owned and Liberian-flagged freighter named Victoria, had departed from a port in Syria before travelling to Turkey, from where it departed for Alexandria, Egypt. A French company had chartered the vessel, which was intercepted and boarded by Israeli commandos about 200 miles from shore while in international waters.

Victoria was reportedly boarded without incident, and is being taken to Ashdod, a port city in Israel. Three containers of weapons were found on board the ship, though the type or total number are unknown. A further inspection of the cargo will be carried out once the ship reaches Ashdod.

According to Benjamin Netanyahu, the Israeli prime minister, “[o]n the boat we discovered many weapons destined for terror groups in the heart of Gaza.” He also claimed that Iran was responsible for shipping the weapons, saying that “[t]he only certain thing is the source of the weaponry was Iran, and there was a Syrian relay station as well.”

Retrieved from “https://en.wikinews.org/w/index.php?title=Israel_seizes_ship_claimed_to_be_carrying_weapons_for_Gaza&oldid=3223885”

US: Melamine from contaminated pet food enters human food chain

Sunday, April 29, 2007

At least 45 people are reported to have eaten pork which came from a hog farm in Ceres, California in the United States, where pigs from the farm were fed pet food which was recalled because it was contaminated with the chemical melamine.

So far none of the individuals have experienced signs of illnesses, but it is not known what effect the chemical, when ingested, has on humans because no major study has taken place on melamine.

On April 21, at least seven urine samples taken from pigs at hog farm, were tested and the results came back positive for the chemical melamine. At least three samples from the feed used to feed the pigs were tested and those results also came back positive for melamine.

Yesterday, the United States Food and Drug Administration or FDA, said in a statement that “we have no evidence of harm to humans associated with the processed pork product” and that “no recall of meat products processed from these animals is being issued.”

Despite the consumption of pork by humans, the FDA states that the risk to human health is minimal.

“The assessment that, if there were to be harm to human health, it would be very low, is based on a number of factors, including the dilution of the contaminating melamine and melamine-related compounds from the original rice protein concentrate as it moves through the food system. First it is a partial ingredient in the pet food; second, it is only part of the total feed given to the hogs; third, it is not known to accumulate in the hogs and the hogs excrete melamine in their urine; fourth, even if present in pork, pork is only a small part of the average American diet. Neither FDA nor USDA has uncovered any evidence of harm to the swine from the contaminated feed,” added the statement.

On March 19, the manufacturer of the food, Menu Foods, which is based in Mississauga, Ontario in Canada, recalled all of its dog and cat food which totaled over 60 million items. On April 28, Canadian officials announced that they will hold products, such as wheat and corn gluten, as well as soy and rice proteins that have been imported from China until they can be tested for melamine.

It is not known how extensive the outbreak is.

Retrieved from “https://en.wikinews.org/w/index.php?title=US:_Melamine_from_contaminated_pet_food_enters_human_food_chain&oldid=1982787”

Chilean President visits Pichilemu to inaugurate Agustín Ross Cultural Centre

Wednesday, February 3, 2010

The Chilean President, Michelle Bachelet, travelled to Pichilemu to inaugurate the Cultural Centre Agustín Ross last week, in the old Ross Casino, a National Monument since 1988, and the first casino in Chile.

Bachelet passed by Cáhuil’s bridge, where she and her parents regularly went on holiday to, according the documentary Pichilemu: Así éramos ayer, así somos hoy (Pichilemu: That’s the way we were, that’s the way we are), which will be aired by the local TV channel Canal 3 de Televisión Comunitaria de Pichilemu.

Prior to reaching Pichilemu, she participated in a foundation stone ceremony for the new Regional Hospital of Rancagua, and the inauguration of the CahuilBucalemuBoyeruca roadway; the inauguration had been delayed for almost 5 years.

At 13:50, the President arrived at Pichilemu with the Minister Sergio Bitar, where she officially inaugurated the Cultural Centre Agustín Ross. “We are proud of the things we have made and now we have to care and defend them,” she said.

The Chilean President said in Santiago de Chile, on Monday, that she felt very good talking to “a very nice people like the Pichileminian.”

Retrieved from “https://en.wikinews.org/w/index.php?title=Chilean_President_visits_Pichilemu_to_inaugurate_Agustín_Ross_Cultural_Centre&oldid=4534049”

Classification For A Personal Injury In Pasadena

byadmin

Personal injury in Pasadena encompasses an immeasurable amount of possibilities in which the victim was injured due to the negligence of another individual or organization. Cases within this law field relate to automobile accidents, product’s liabilities, and medical malpractice. An attorney that practices within this field determines a just cause for litigation and prepares a claim for court submission.

Classifications for Personal Injuries

A mild to moderate personal injury is not a common occurrence in the litigation process, unless this injury resulted from the use of product, medical malpractice, or premise’s liabilities. More severe injuries are the most predominant forms of injuries seen most often in litigation proceedings. These injuries may lead to permanent disabilities, severe alterations, or even death.

A personal injury attorney will establish the classification for your personal injury to determine the most effective course of action for your claim. This classification will determine whether you are eligible for compensation or if a different avenue should be explored. It may also determine the settlement amount based upon the circumstances such as criminal negligence. As you or your loved one recover from your injuries the classification may change due to the overall outcome.

For instance, victims who suffering traumatic brain injuries may recover fully over time whereas others never do. In some cases, the injury alters the victim’s personality so severely that they literally become another person. Your attorney will take these factors into consideration when he or she devises strategies for your case.

Injury Attorneys

Khalaf and Khalaf, Attorney at Law in Pasadena provides representation in civil litigation and criminal-defense law. They offer services to accident victims and those who stand accused of a criminal infraction. Thorough understanding of these law fields, the attorneys prepare a solid case to present in a court of law.

Summary

A Personal injury in Pasadena falls into several probable categories in terms of litigation. The cause of the injury determines how your attorney will proceed in filing a claim in court. The reason for this is that different laws apply to various circumstances that result in an injury. They additionally, require unique approaches when presented before the judge.

Virgin Atlantic jet fire investigation finds faulty wiring in A340 fleet

Saturday, February 14, 2009

Investigators in Ireland have found wiring problems in several Virgin Atlantic Airbus A340s as part of their investigation into a fire on board one such aircraft that was forced to divert to Shannon Airport.

The Virgin jet was headed from London Heathrow Airport to Chicago with 143 passengers and thirteen crew on January 11 this year. A small fire was noticed in a waste bin storage area in the first class section’s bar unit.

A damaged wiring loom could be seen sticking out of a hole in the compartments floor, and there was visible electrical arcing in the area. An attempt was made to control the situation by switching off electrical circuits, but both the fire and the arcing continued unchecked.

The aircraft’s captain declared an emergency and diverted to Shannon, which the airliner reached thirty minutes later. During that time, the crew used five 1kg fire extinguishers upon the fire, but each time the arcing continued and after about five minutes the fire reignited. Witnesses described the fire as consisting of “licks of flame”.

After performing a safe emergency landing the airport’s Aircraft Rescue and Firefighting department tackled the fire with a 5kg extinguisher but met with similar results. After consulting with the crew the jet’s power was completely shut down, after which the fire was finally put out. Virgin initially claimed the fire had never occurred.

Investigators with Ireland’s Air Accident Investigation Unit (AAIU) inspected the loom and found it to be “completely severed” and exhibiting “strong evidence of burning/arcing” according to a preliminary report released on Friday. The loom was identified as providing power and dimming circuits for mood lighting in the bar.

The AAIU says that it seems the loom had contacted the metal waste bin in the compartment above. There should have been rails to hold up the bin and a protective metal cover, but “no evidence” of these was found and the report notes that “Initial inspection indicated the possibility that they were never fitted.”

The bar unit is a modification exclusive to Virgin. The AAIU ordered all 36 of the airline’s A340s worldwide inspected, with both France and the United Kingdom assisting with this. The UK has identified four other aircraft with faulty wiring, it has now been revealed. Virgin says that “A few minor issues were found and were immediately rectified,” and adds that “The installation of the bar was carried out in accordance with all relevant regulations. Virgin Atlantic continues to assist the AAIU in their investigation and looks forward to the full report with interest.”

The AAIU says that “significant other issues are being examined by the investigation” in addition to the wiring defects. “These include the difficulties faced by the crew in isolating the damaged circuits, the emergency checklist, the design of the modification and the standards relating to such modifications,” said the report.

Virgin’s Boeing 747-400 fleet also has a similar bar installed on it, but there was not considered to be a risk to the aircraft’s wiring on that model. The fire involved a bar added three years ago, with the aircraft manufactured in 1998.

Retrieved from “https://en.wikinews.org/w/index.php?title=Virgin_Atlantic_jet_fire_investigation_finds_faulty_wiring_in_A340_fleet&oldid=4577504”

How To Choose The Best Hiking Shoes

Submitted by: Alexander Preston

There are a number of things to keep in mind when planning for a hike but one of the most important factors to consider is the hiking shoes. Picking the right footwear is going to make or break the success of your trip so it is crucial that you match the right pair of hiking shoes with your hike.

A lightweight and comfortable shoe is great for a short and easy expedition over a well trodden and simple track but may leave one’s feet aching and you might slip or twist an ankle if trekking through difficult and unpredictable ground over a prolonged period, however a sturdy and well supportive pair of boots can be overkill on a light and easy day trip but is going to provide you with all-day comfort and support on a trek up the side of a mountain.

Here are some of the many questions you have to contemplate when searching for hiking shoes:

What environment will I be trekking on?

[youtube]http://www.youtube.com/watch?v=Oa0yIzq-0oQ[/youtube]

Will you be walking well-worn trails, bushwalking, mountain or gorge walking or difficult unchartered landscape? Will there be steep hillsides or mountains, and will you need waterproofing when it comes to crossing streams?Are you likely to be trekking through tough dry desert, or will you be hiking through deep wet rainforest?

How long is my trip?

Are you organising a day trip or maybe an overnight trek with outdoor camping?

What will the weather conditions do?

Will it be hot, dry and sandy or are you trekking through damp soggy pastures? This will determine whether you would need light-weight and breathable hiking shoes or a set that will keep your feet dry!

How much weight will I be carrying?

Will you need extra support from your hiking shoes for the bulky rucksack and other gear you will be carrying or are you travelling light having just a daypack?Heavier, more sturdy hiking boots will offer extra support for you when compared to light weight hiking shoes when you are moving heavy backpacks packed with all your camping equipment.

Will i need to have good ankle joint support?

Rough loose land or flat easy trails? Hiking shoes having little or no ankle support can easily leave you with an injury if the land is rocky and unpredictable yet a highly supportive boot might be overkill and be unnecessarily bulky if you don t plan on going off the beaten track.

How frequently will I use my new hiking shoes?

Do you plan only one or two hikes every year or are you an avid walker who should have very long lasting durability from your hiking shoes or boots? Whilst a good pair of hiking boots will be with you for a long time no matter your level, you need to consider the amount of use you may get from your new pair prior to over-spending on a massively strong boot if you are only going to use them every six months but on the other hand, if you underspend on a more economical and less reliable pair then they can deteriorate rather rapidly if you take them out on an overnight hike every week.

About the Author: For more advice and tips on finding the best hiking shoes, please visit

best-hiking-shoes.org

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1141141&ca=Womens+Interest

Is Fannie Mae Homepath A Good Option For First Time Home Buyers?

By Simon Volkov

Fannie Mae Homepath is a government-sponsored home buying program that offers discount-priced foreclosure homes. Buyers can apply for financing through Home Path Mortgage to receive special incentives and low-interest mortgage loans.

Additionally, many of the Fannie Mae Homepath properties are eligible for Neighborhood Stabilization Program grants offered through the Department of Housing and Urban Development.

First time home buyers find Fannie Mae homes attractive because they are often priced 10- to 20-percent below market value. Although foreclosure houses often require repairs, these costs are factored into the purchase price.

One attractive financing feature offered through Home Path Mortgage is the option to apply for renovation loans to offset repair costs. When buyers purchase houses requiring repair work through conventional mortgage lenders they may not qualify for construction loans.

[youtube]http://www.youtube.com/watch?v=XNRf2LIQQFg[/youtube]

Those who do qualify are often forced to pay higher interest rates and then refinance mortgages into a conventional home loan once repairs are complete. This can add a substantial sum to the overall cost of the mortgage loan.

First time home buyers who have not established a strong credit history find Home Path Mortgage a good option because lending criteria is not as stringent. This program has a minimal down payment requirement which makes it attractive to those who cannot afford a large down payment.

Fannie Mae Homepath homes can make the perfect first home, but buyers should take time to thoroughly research the property and obtain repair cost estimates. The Fannie Mae website provides pertinent information which should be reviewed by first time home buyers who have never undergone the process.

Buyers of Fannie Mae foreclosure real estate will need to obtain preapproved financing before submitting purchase offers. It is important to realize that “preapproved” does not equate to “approved” financing. Instead, it shows lenders how much buyers can afford and reflects they may qualify for financing as long as the purchase price falls within a specific price range.

One consideration of submitting purchase offers for Fannie Mae Homepath properties is chances are high multiple offers will be submitted for the same property. Many of these houses are sold within days after being listed on the Fannie Mae website. It is strongly recommended to submit the highest offer upfront.

Fannie Mae rarely entertains offers for less than the asking price. The only possibility of buying these houses for less than the asking price is if substantial damage is discovered during property inspections that were not revealed when property was repossessed.

Buyers who purchase Fannie Mae homes in communities where foreclosure rates are high might qualify for NSP grants. Each state receives allocated funds annually which must be used to buy, sell, or rehab foreclosure homes which meet the criteria. This is a great way to offset repair costs or reduce the overall cost of foreclosure homes. Interested buyers can review details of HUDs NSP grant program at HudNSPHelp.info.

Fannie Mae Homepath properties can be a rewarding choice for buyers uncertain of whether now is the time to buy a house. Declining property values have scared many people from buying houses, along with financing restrictions.

Only you can decide if now is the time to take the plunge. If so, take time to research availability of NSP grants and Home Path Mortgage financing options. Combining these programs with the purchase of Fannie Mae Homepath properties can potentially yield substantial savings.

About the Author: In addition to being a good option for first time home buyers, Fannie Mae Homepath can be a good choice for investors. Real estate investor, Simon Volkov shares additional information and resources about buying foreclosure homes via his investing website at SimonVolkov.com.

Source: isnare.com

Permanent Link: isnare.com/?aid=668063&ca=Real+Estate