RISMEDIA, July 14, 2008-(MCT)-Ever feel guilty when you drink that morning cup-o-joe? Well, here’s a reason to enjoy your coffee instead. A new study just published in the Annals of Internal Medicine suggests that those people who regularly indulge in their favorite coffee beverage may live longer than those who don’t.

The authors of this study reviewed data from two large ongoing studies that have followed health professionals over more than twenty years, including their dietary habits-the Nurses’ Health Study, and, the Health Professionals Follow-Up Study. What they found was that people who drank at least five to seven cups of coffee per week had a significantly lower overall risk of dying from any cause compared to those who did not drink coffee; people who drank 4-5 cups per day or more seemed to have the strongest protection.

The effect was usually stronger in women than in men, and most of the reduction in death was due to a reduction in cardiovascular disease. Women who consumed coffee in this study also had a small reduction in the risk of diabetes as well as chronic liver disease, including cirrhosis of the liver.

Why might coffee be beneficial? In this study, people who drank decaf coffee benefited as much as those who drank the “rocket fuel,” suggesting that there is something else in coffee besides the caffeine that is beneficial to our health. We do know that coffee is high in polyphenols-plant chemicals that are known to reduce inflammation. Polyphenols also have other positive effects on the heart, blood vessels, and blood sugar:

- They help to relax blood vessels, which can also lower blood pressure.
- They act as anti-oxidants and may help to reduce blockages in the arteries.
- They seem to improve glucose tolerance and utilization, thus reducing the risk of diabetes.

In addition to the polyphenols in coffee, the caffeine itself also seems to have benefits, including:

- Reducing the risk of diabetes.
- Thinning the blood by reducing platelet stickiness.
- Relaxing the airways in people with asthma which can improve asthma symptoms.
- Reducing the risk of gallstones and gout.
- Reducing the risk of Parkinson’s disease (greatest benefit seen with 1-3 cups of coffee per day).
- Possibly reducing the risk of some cancers, including cancers of the liver, colon, and esophagus.

And, lest you head to your nearest Starbucks to start pumping the caffeine, we do want to mention a few caffeinated risks:

- More than 200 mg of caffeine per day can increase the risk of miscarriage.
- Excessive caffeine may increase blood pressure, anxiety, and insomnia.
- Unfiltered coffee can increase your blood cholesterol levels, so use a filter when you brew.
- Caffeine increases the loss of calcium in the urine; if you have osteoporosis, it’s probably best to keep your caffeine intake under 300 mg/day, or take an extra calcium tablet for each cup of coffee you drink.

Drs. Kay Judge and Maxine Barish-Wreden are medical directors of Sutter Downtown Integrative Medicine program in Sacramento, Calif.

© 2008, The Sacramento Bee (Sacramento, Calif.).
Distributed by McClatchy-Tribune Information Services.

 

RISMEDIA, July 8, 2008-(MCT)-Given all the recent economic malaise, there’s a good chance you’re trying to lower your spending. One way to do that is to cut back. Another way is to spend smarter. Are you doing everything you can to make sure you’re getting the best price?

From Consumer Reports Money Advisor, here are three tips for finding the best price on all kinds of purchases:

- Check online first. You can compare prices to make sure you’re getting a good deal before you buy. There are numerous online shopping “bot” sites that gather information from a variety of retailers. Popular “bot” sites to check include MySimon.com, NextTag.com, and BizRate.com. You can also search the Web for coupons and coupon codes.
- Look for frequent shopper discounts. If you shop regularly at a store, find out whether they offer discounts or some perks to customers who use the store’s credit card. If so, it could be worth your while to use their card. Some retailers let their customers sign up to receive special offers by e-mail. Look into this option, as well.
- Give alternative stores a try. For instance, Marshall’s and HomeGoods may carry the same products as a department store, but at a lower price. You can also look into outlet stores and dollar stores. In any of these alternative stores, you might find prices substantially cheaper than at other places.

© 2008, MarketWatch.com Inc.
Distributed by McClatchy-Tribune Information Services.

RISMEDIA, July 3, 2008-Semiprofessional baseball started in the U.S. in the 1860s and over the years has grown into America’s favorite pastime. With the 2008 season in full swing, now is the perfect time to root for your favorite team.

Turner Field

Since it opened in 1997, the “Home of the Braves” has become an Atlanta landmark as well as the standard for baseball park design. In addition to hosting games throughout the season, tours of Turner Field are offered year-round. Tours begin in the Braves Museum & Hall of Fame, which features more than 600 Braves artifacts and photographs that tell the history of the team. Baseball fans are then guided through the broadcast booth, the luxury suite, the press box and the dugout. Visit http://braves.mlb.com to plan your trip.

Fenway Park

Named for the area of Boston in which the ballpark is located, Fenway Park is the home of the Boston Red Sox. Fenway celebrated its opening day in 1912 and saw its biggest crowd for a doubleheader against the Yankees in 1935. The ballpark features one of the last hand-operated scoreboards in Major League Baseball, which uses green and red lights to signal balls, strikes and outs. For more information, visit http://boston.redsox.mlb.com.

Yankee Stadium

One of the most famous sports venues in the U.S., Yankee Stadium has hosted games since 1923 and was formerly the home of the New York Giants football team as well as host to dozens of boxing’s most famous fights. Fans will soon find themselves cheering on the Yankees in a new ballpark that is set to open in 2009. Built to resemble the exterior of the original Yankee Stadium and an interior with a modern ballpark, each
seat will have a view of home plate. For more information on the Yankees’ new home, visit http://newyork.-yankees.mlb.com.

Chase Field

Chase Field, home of the Arizona Diamondbacks, has become one of baseball’s most recognizable landmarks within just a few seasons. Since the air-conditioned facility, complete with a retractable roof, first opened in 1998, fans have had the opportunity to watch the Diamondbacks without worrying about Phoenix’s summer heat or monsoon storms. More than 80% of the seats at the baseball-only facility are inside the foul polls, and there is no upper deck around the outfield, giving fans a clear view of the field. Visit http://arizona.diamondbacks.mlb.com for more information.

Progressive Field

Professional baseball is one of Cleveland’s oldest traditions, dating back to 1869. Both the Cleveland Indians and the city of Cleveland itself are working, living examples of the power of teamwork, conviction and dedication. Home to the world’s largest baseball video screen, fans are able to watch live video and replays. Progressive Field offers a fan-friendly facility featuring an intimate environment. Visit http://cleveland.indians.mlb.com to learn more.

 

RISMEDIA, June 27, 2008-(MCT)-Summer is the time that Americans celebrate independence and freedom from the Mother Country. Still, England remains a close relative. In the very heart of quintessential Englishness-the Cotswolds region in western England-visitors can find downright quirky places and personalities. You just need to know where to look. Here are four lesser-known tourism treasures to help you discover an unexpected side of Britain.

The Pudding Club
www.puddingclub.com

You don’t need to be a member to attend a weekly meeting of the Pudding Club at Three Ways House Hotel near the northern Cotswolds town of Chipping Campden.

Reservations, however, are required. It’s also helpful if you wholeheartedly support the 23-year-old club’s founding purpose-to prevent the demise of the great British pudding (a heartier version of American dessert). Otherwise, you might think it’s somewhat crazy to consume seven, albeit scrumptious, desserts in one sitting.

At a recent meeting of the club, 70 people from across the globe paid 28 British pounds each (nearly $55) for a place at the table. Each pitted their sweet tooth against a formidable line-up of traditional puddings, such as Very Chocolate Pudding, Syrup Sponge and Tutti Frutti. As in any contest, there are ground rules: You can have only one pudding in your bowl at a time, and bowls must be clean to get the next pudding. Tactical strategies ensure staying power, explained Peter Henderson, one of the hotel’s owners and the evening’s emcee and coach. “Have the chocolate pudding later in the evening,” he advised. “And, go ahead, have chocolate sauce on it. If you’re in that far, don’t give up.”

After sampling the seven, surviving guests voted for their favorites.

For help recovering from the marathon sugar intake, there are bedrooms upstairs in the hotel. Or guests can work it off-the Three Ways House coincidentally offers a series of walking weekends throughout the year.

Gloucester Cathedral
www.gloucestercathedral.org.uk

A trip to England isn’t complete without a visit to a cathedral. The choices are many, but only Gloucester Cathedral gives Harry Potter fans the bonus of deja vu. You have seen these hallways.

The cathedral’s beautiful cloisters, where monks once studied manuscripts, were transformed into the corridors of Hogwarts School of Witchcraft and Wizardry in the films of J.K. Rowling’s first two books-”Harry Potter and the Sorcerer’s Stone” and “Harry Potter and the Chamber of Secrets.” Of course, modern signs, light switches and stained glass had to be disguised or covered with a little Hogwarts magic.

Besides being known as a filming location, the magnificent cathedral, which has been a place of worship for more than 1,300 years, is renowned for its stunning Gothic architecture. The Great East Window, which is as large as a tennis court, shows Christ raising his hand in blessing, with angels, saints, bishops and monks.

And don’t be surprised to see the Stars and Stripes flying from the cathedral. John Stafford Smith, composer of “The Star-Spangled Banner,” was born in 1750 and christened in Gloucester Cathedral.

Abbey House Gardens
www.abbeyhousegardens.co.uk

Check the calendar before heading to Abbey House Gardens in the historic town center of Malmesbury.

You’ll want to know what to wear. Or not. Owners Ian and Barbara Pollard, known as the Naked Gardeners, have now designated several clothing-optional days for visitors. Oh, yes, they’ll be clothed on other days, but as Ian succinctly explained the naked moniker, “Why not?” His wife added that the personal preference once was mentioned in a BBC report-and the tagline stuck.

Whatever the season, the five-acres of gardens demonstrate the Pollards’ creativity since moving into the 16th century Abbey House in 1994 and opening their gardens to the public. More than 10,000 species of trees and plants provide a year-round kaleidoscope of textures and colors. This is a must-see garden of ideas for horticultural enthusiasts. Or just relax.

The gardens, especially along the river, provide a wonderfully tranquil environment.

Footnote: The gardeners have a license as an approved venue for a civil marriage ceremony.

Potter Mary Rose Young
www.maryroseyoung.com

From her vivid pink hair to her vibrant, eclectic pottery, Mary Rose Young personifies her philosophy, “Life should be full of color.” And roses. Her trademark roses, along with her favored spots and stripes, are everywhere on her hand-thrown and hand-painted ceramics as well as in her home studio tucked away in the legendary Forest of Dean in western England.

She said her goal is to make pottery that is fun and childlike. But adults like it too. Her quirky, but captivating, pottery can be found in more than 150 U.S. shops as well as throughout the United Kingdom and Europe. (Online orders are accepted.)

Success, however, did not come overnight. Young graduated from art college more than 20 years ago and remembers the long hours of selling her wares in stalls in Bristol.

“I get a lot of pleasure now,” she said, “imagining my pieces winging their way around the world, equally at home in cottage or castle.”

If you go:

Don’t be pound foolish. Avoid weak exchange rates by paying for much of your British vacation in U.S. dollars before you leave home. VisitBritain offers free maps, brochures, vacation-planning advice, and a wide selection of passes and transportation tickets, including BritRail passes. Visit the Online Shop at www.visitbritain.com/us or call toll-free at 800.462.2748.

Getting there:

Getting to the Cotswolds from London by train takes about one and a half hours from Paddington Station. Trains run every hour, seven days a week. There also is a direct link from Heathrow Airport. For timetable and fare information, visit www.nationalrail.co.uk or www.thetrainline.com. Driving by car from London to the Cotswolds takes about two hours.

© 2008, McClatchy-Tribune News Service.
Distributed by McClatchy-Tribune Information Services.

 

RISMEDIA, June 23, 2008-(MCT)-At a time when parents are being pummeled at the gasoline pump and beaten down by a gloomy economy, their teenagers are about to be unshackled from their school desks, set free into the jubilance of summer. Whether they’re graduating or they just want to earn some of their own gas tank ching-a-ling-a-ling, many will be looking for summer jobs. The task can be dreary-especially if you’re not thrilled by the prospect of flipping burgers and folding pocket V-neck T’s at a mall store-but in this economic climate, it can also be tough.

Nationwide, the unemployment rate for 16- to 19-year-olds rose to 15.5% in April, one percent higher than a year ago. The overall unemployment rate is 5.1%, according to the federal Bureau of Labor Statistics.

“It really is hard, because a lot of jobs that kids would have during the summer … adults have taken those jobs, because they need two or three jobs now,” says Pat Fulkerson, youth contract manager for Workforce Solutions for Tarrant County, Texas.

Teens can still work at perennial employers like Six Flags Over Texas, even though there are fewer of those jobs, human resources director Marian Buehler said. But the jobs are there, Buehler says. “Mainly, we’re just looking for people that have customer-service skills, that will make good eye contact, that are polite.”

So there’s no need to panic. Just get busy, and get creative, and when it comes to finding work off the beaten path, take a look at the advice from these experts.

Think Outside the Bun

Lila Boydston, career resources coordinator for the Fort Worth, Texas, school district, says it’s easy for students to gravitate toward the typical places. “They think: `Oh, I just need to go to a grocery store or fast food.’ And there’s nothing wrong with those, but they should start to brainstorm: Where are the places you like to go for fun? Make a list, and why not apply?”

Cheri Butler, associate director of career services at the University of Texas at Arlington, tells students that if they want to attend college, they should try to look further down the road. Ask yourself what you are interested in right now. “I encourage them to think outside the box about things that they like to do that might lead them to helping decide on a career path.”

Start by talking to friends, family and acquaintances for ideas and connections. If a student really likes animals, Butler says, why not check out the Fort Worth Zoo or a vet’s office? If you’re interested in something like real estate, realty offices sometimes hire students for part-time, weekend receptionist jobs.

Butler added that working a summer job in a field you’d like to pursue may also help you realize that this really isn’t the career path for you.

Robert Rodriguez, 18, found his part-time job about a year ago after being referred by a friend: the Trimble Tech senior is a dietary aide at Cook Children’s Hospital. He prepares trays for the patients, and sometimes delivers meals to the kids’ rooms. He makes $8.50 an hour with benefits that include paid time off and sick pay.

Rodriguez’s advice to teen job seekers? “It’s always good to look at the hospital websites; they’re always looking for hired help.”

Be Your Own Boss

David Minor was a teenage entrepreneur. He’s now the director of Texas Christian University’s Neeley Entrepreneurship Center at the M.J. Neeley School of Business.

One of his first jobs as a teen was doing janitorial work, making minimum wage, which was then $1.65 an hour. The next summer, one of his friends told him how he’d started making money mowing lawns. Minor had a lawn mower, a buddy had a driver’s license, so a new venture was born. His hourly wage shot up to $8-$10 an hour. “The very first week I realized being an entrepreneur was the ticket for me,” Minor says. By the next year, he had his own license and the ability to go solo.

“I was able to make more money than I could on someone else’s schedule,” said Minor, who started Minor’s Landscape Service, which eventually grew into three offices. He finally sold the business when he was 39.

“Oftentimes creating your own opportunities is the way to go,” Minor says. “It gives you the freedom and flexibility to do what you want to do, when you want to, or when you can do it. It allows you to work around other extracurricular activities.”

If you want some ideas from people who really thought outside the box (and in some cases, might’ve had some start-up help from Mom and Dad), take a look at some of the winners of TCU’s Texas Youth Entrepreneur of the Year program at www.tcuyeya.org.

The program recognizes young people who have started their own businesses, Minor says. “We bring about 20 (students) in, and we award six of them (college) scholarship money.”

This year’s winner bought and sold used, high-end foreign cars. “That’s obviously a very unique niche,” Minor says, adding that there was a mix of mundane and highly unusual businesses: lawn mowing, window washing, curb painting, website building, calf raising.

“One of our winners did Internet promotions for movies,” Minor says.

Just like any kind of entrepreneurial venture, Minor says, it’s first about zeroing in on a niche to fill-a particular service that people can use. Then comes the idea, and then you have to access the capital you need. “Obviously some of them are going to get a little help from their parents to start with,” he says.

And once you’re off with your idea, get out the word by going door to door, posting flyers and informing just about everyone you know.

If you’re leaning toward entrepreneurship, you might pick up a copy of “Prepare To Be a Teen Millionaire”, by Kimberly Spinks Burleson and Robyn Collins. The book offers tips from and interviews with people who created their own businesses as teens.

Where to Look?

We asked our employment experts for ideas on how to get the cash flowing this summer-whether it’s an entrepreneurial plan, or a 9-to-5 job doing something different or unusual. Some jobs might be internships, which often don’t pay-but if it’s something you’re aching to pursue, think of it as an investment in your future.

Animals / Outdoors

Local Zoo
Veterinary offices
Lifeguarding at pools or summer camps
Theme parks
Country clubs/golf courses

Cultural

Museums (tour guides, reception desk, gift shop)
Media/entertainment
Movie theaters
Radio stations
Photography

Office Work

Law firms (research)
Realty offices
Beauty salons
Computers
Web design
Computer troubleshooting/repair

Entrepreneurial

Pet and house sitting
Dog walking
Babysitting
Lawn care/landscaping
Tutoring
Martial arts instruction
Floral design
Artwork; design and produce T-shirts
Auto mechanics
Car detailing, customization

Other

Hospitals
Libraries
Hotels

More Tips for Teens

Do …

- Look as if you took the time to pick out your clothes, not dressed as an afterthought.
- Be upbeat and high-energy; show your personality.
- Be well-groomed–hair and hygiene.
- Wear clothes that fit properly. Wear casual pants, not jeans, and solid shirts, not prints. Stay away from bright colors. Avoid sandals and flip-flops, and women should avoid open-toe shoes. “It all sounds very old-fashioned,” Boydston says, “but it’s still what employers are looking for.”

Don’t …

- Wear shorts, cologne or perfume. “A lot of people are allergic,” Boydston says.
- Overdo the makeup. It’s better to wear clear or no polish on neatly groomed nails.
- Overdo the jewelry. It can be a distraction. Guidelines for guys: a ring and a watch; for women, keep it simple: chain, one ring on each hand, one item per wrist.

In addition to personal appearance, Boydston says applicants should think about skills they have that could benefit the employer. Let them know you’re someone who wants to work, will come in on time, will take initiative and will learn the job. And it always helps if you have reliable transportation. “Just know yourself,” Boydston says. “Do you have good communication skills? Are your reliable? Enthusiastic? Do you enjoy helping others? Do you have good money skills-and how that would be a benefit to that employer?”

© 2008, Fort Worth Star-Telegram.
Distributed by McClatchy-Tribune Information Services.

RISMEDIA, June 13, 2008-(MCT)-Everyone knows that summer really starts on the Friday afternoon before Memorial Day (Thursday night if you plan to call in sick) and comes to a crashing halt when the alarm clock rings on the Tuesday morning after Labor Day. So get out that big magic marker and mark your calendar to remember to mentally downshift from now to Sept. 2. In celebration, here are five must-read summer lists.

Five Cool Summer Spots

If you want to jump-start your summer, head to Phoenix, Las Vegas, Tucson or Dallas-Fort Worth, which have the highest average summertime temperatures. But most of us are looking for a place to cool down when things get hot. Here’s where to go to literally chill.

San Francisco: Mark Twain didn’t actually say “the coldest winter of my life was a summer in San Francisco,” but he’d probably like the turn of phrase. It sums up a truth: No part of a city in the lower 48 states is cooler during the summer than the west side of San Francisco. I can hear those foghorns now. October is actually warmer than July.

Seattle: The locals feel like it rains all the time (and even in summer, you can get doused), but this is a great time to visit Seattle. When the skies clear you will have beautiful shirt-sleeve days, a favorite time to visit Gig Harbor or one of the other spots sprinkled around Puget Sound or go out to Lake Crescent on the Olympic Peninsula. But the evenings will often see visitors grabbing a sweater for a night on the town. On a clear day you can see the snow on top of Mount Rainier, especially from the observation area of the Space Needle.

San Diego: Though it casts itself as a classic sunny, Southern California summer spot, San Diego is actually the epitome of meteorological mildness. Among major American cities, it ranks third, behind San Francisco and Seattle, for the lowest average daily high temperature during June, July and August. The summer thermometer readings usually top out at 75 degrees. Sweet.

Portland: Oregon’s biggest city can have hot spells, but it’s another Top 5 cool spot for average summer temperatures. If it does warm up, so much the better for the city’s well-known microbreweries and beer gardens, where the only sweat is on a glass of ale. If you want it even colder, head a few hours west to the coast, where summer by the Pacific Ocean won’t remind you of any Beach Boys song.

Fairbanks: An urban refrigerator much of the year, the Alaskan city thaws out for the short summer highlighted by long days. To the south is Denali, also known as Mount McKinley, the tallest mountain in the United States.

But the real adventures are to the north, courtesy of two of the most magnificent but least-visited national parks-Gates of the Arctic and Kobuk Valley. I prefer the latter part of the summer, around early August, when the unofficial state bird of Alaska-the mosquito-dies down.

Five Up-All-Night Summer Cities

If a town broils in the day, there is a good chance it has a warm summer glow at night. Some cities with brutal noon sun are my favorite nocturnal haunts on an August night.

Las Vegas: Triple digits in the desert and hordes on the weekends make a summer daytime on the Strip a hard, sweaty slog. Better to wait for the night, when America’s “city of lights” turns on and turns it up. My favorite neon: the Flamingo. Favorite nighttime hotel: the Palms. Favorite night’s sleep: Red Rock in Summerlin, far from the action.

Miami Beach: The beautiful people sweat out the day at the beach, but the action really starts up after dark, when Ocean Drive and Collins Avenue become rivers of people. The deco district has some of the best neon in the country. I love to visit but usually sleep elsewhere in town. It can be tough to get your beauty sleep when the volume of life is on roar around small boutique hotels like the Tides, Colony or Delano.

New Orleans: Summer starts sometime around March and lasts into October. Though ravaged by Hurricane Katrina, the old core of the city is on the rebound, and the people are glad to have you. At night, it is best not to wander far from the French Quarter, but my favorite nighttime spots are the jazz clubs and restaurants (especially Praline Connection) just to the east in the Faubourg Marigny neighborhood.

Palm Springs: In the summer, that old “P.S., I love you” slogan is only good for the p.m. The 100-plus Fahrenheit days drive down hotel prices, especially midweek. The secret is to rest up during the day, take a dip in the hotel pool in the afternoon, then head out just when the sky over San Jacinto turns from dark blue to inky black. My favorite nighttime spot is actually in neighboring Palm Desert, where the El Paseo shopping and eating district stays up late.

Los Angeles: Smog so thick you can barely see the Hollywood sign during the day. Warm nights with all those red taillights streaking along the Sunset Strip. I’ve lived most of my life in Southern California, and as the Doors sang so long ago, Los Angeles is “the city of night.”

Five Great Summer Beaches in Hawaii

The weather doesn’t radically change in Hawaii, but one thing that does shift around is the surf. Winter means heavy pounding of northern shores on the islands, while summer means surf’s up on the south. Among the dozens of great beaches, a few favorites.

Poipu, Kauai: Across from Brennecke’s Broiler restaurant on the south end of Kauai is a pair of perfect beaches. Brennecke’s Beach is the place to go body boarding or roll around in the crashing surf. But just to the west is Poipu Beach, with a rocky shoal that creates a placid lagoon and gently sloping sands perfect for younger children. After you’re all done for the day, go to the broiler for mai tais (for the adults) and burgers (for everyone).

Waimea Bay, Oahu: The home of the biggest waves on the island during the winter is a placid bay with sailboats bobbing at anchor during the summer. The steep shore break can sometimes make swimming a little choppy, but much of the summer it’s not much more than an ankle slapper. Watch the brave ones jump off the rock at the west end of the bay. Come early for the best parking and check out the lei-draped memorial to legendary lifeguard and surfer Eddie Aikau.

Lumahai Beach, Kauai: I’ve been criticized by readers for mentioning this classic little beach at the bottom of a steep, wooded path on the north shore of Kauai. The surf can be surprisingly rough, especially in winter.

Even in summer, a rogue wave can reach up on the popular shelf of rocks where wedding photographers often take couples for photos. But the sand strand where part of the movie “South Pacific” was filmed is drop-dead gorgeous. Just don’t drop the wrong way into the ocean and end up dead. If you want to play it safe, stay upslope on the sand.

Makena Beach, Maui: My choice of favorite beach on the island that may have the best beaches in Hawaii has bounced around over the years: Kapalua, until the area around it became too developed. Hot but fun D.T. Fleming.

Kamaole Beach Park (actually three beaches, numbered 1, 2 and 3) near the condos in Kihei. Remote, tree-fringed Hamoa at the end of the long, twisting drive to Hana. The great hotel-fronted strip at Kaanapali. But in the end I come back to the first beach I ever loved on my first trip to Hawaii, the place some locals simply call “Big Beach.” At the end of the road south toward Wailea, it’s a nearly mile-long stretch of golden yellow sand and beautiful water. If you wonder why a stream of people are hiking over a nearby hill: They’re on the way to “Little Beach,” the popular but decidedly unofficial nude beach.

Waikiki, Oahu: Yes, it is packed, and a commercial strip is just a block away. But with Diamond Head in the background, it is America’s classic urban beach (sorry, South Beach). Summer is when the waves are biggest, which isn’t that big on this gently sloping beach. But perfect for the canoe rides offered at the beach boy stands near the statue of Duke Kahanamoku.

Five European Summer Favorites

I’m devoted to traveling to Europe in the off-season, especially the lovely autumn. Nothing seems as suffocating as a July weekend in Florence, where your $500-a-night, three-star hotel doesn’t even have air conditioning.

When I do go to Europe in summer, I head north or up into the mountains.

Scottish Highlands: Despite all the buzz about resurgent Glasgow, I still prefer the more sedate charms of Edinburgh. But my favorite is the long drive across Rannoch Moor through Glencoe to Fort William. In winter, this is the heart of Scotland’s ski area. But in summer, it’s just a cool, pretty mountain town.

Lofoten Islands: Take the Norwegian Coastal Voyage or fly in on a prop plane to the rocky, gray islands where summer literally lasts all day due to the northern latitude. I’ve been all over the islands, but I still want to go back to Reine, a picture-perfect fishing village on the south end of the string of towns that I missed on my last visit.

Grindelwald: Guidebook guru Rick Steves sends hordes to the nearby villages of Gimmelwald, Murren and Wengen. I prefer to visit in the slower spring season. Still, it is hard not to love the crisp, cool summer weather up in the Swiss Alps. I’d use the ski village of Grindelwald as my home base and take the unbelievably intricate network of rail lines to explore the mountains. Include a train ride all the way up to the observation deck near the 13,642-foot peak of Jungfraujoch mountain.

Dolomites: The mountains around Suisi and Cortina d’Ampezzo are unlike anything else in the “roof of Europe,” more vertical and jagged than the Alpine areas in France, Germany and Switzerland. The mountain huts are great for hiking from point to point (some are used by cross-country skiers in the winter). I’m more likely to do the famous loop drive out of Bolzano (called Bozen by the German speakers in the area), conveniently located off the superhighway through the Brenner Pass between Italy and Austria.

Tyrol: Politically split between Austria and Italy, this area to the west of the Dolomites is more of the classic Alpine experience. It was once part of the Austro-Hungarian Empire, giving it a north-meets-south feeling. Rent a car in Innsbruck, Austria or Verona, Italy, and tour the region. If you have extra time, check out the wonderful Italian lake district, which would make this list if it were not for the unfortunate but entirely understandable crush of summer crowds. Still, taking the speedboats to the little villages around Lake Como is a treat worthy of a list all its own.

Five Great Summer Drives

Even with $4-a-gallon gas, I love a great summertime drive. Some are high mountain roads that can be driven only in the short summer above the tree line. Some are classic highways any time of year. While I love Pacific Coast Highway, I can’t handle the RVs and SUVs on the stretch between Cambria and Monterey, so it doesn’t make the list-I prefer spring for Highway 1.

Tioga Pass Road: In a good year, the snows clear enough at the high elevations of the California Sierra to open the road by Memorial Day. Don’t count on it this year-at press time there were still four avalanche zones. We’re talking cold country up there. The high road begins just south of Mono Lake off Highway 395 and climbs up to Tioga Pass at 9,943 feet before twisting down into Yosemite Valley. You end up in the heart of the great national park. Snow usually closes the road by November.

Going-to-the-Sun Road: It feels like driving 50 miles on the edge of razor wire wrapped around the sides of the Montana mountains. Your car is the automotive equivalent of the goats you’ll see clinging to the sides of the towering peaks in Glacier National Park. Hawks, moose and the occasional bear are often sharing the scenery, looking at you as you look at them.

This is the 75th anniversary of the engineering marvel, and a party will be held June 27 at Logan Pass, elevation 6,646 feet. Get there early for parking-and bundle up.

Beartooth Highway: I’ve never felt more alone on a road than on the loneliest stretches through the mountains between Red Lodge, Mont., and the northeast entrance to Yellowstone National Park in Wyoming. The gravel-strewn high country above the tree line is a place where clouds seem to come at you sideways and lakes are still glittering with bits of ice well into June. There are 20 peaks over 12,000 feet that can be viewed from the highway, which goes over passes in both states that are above 10,000 feet. In good weather, you can do the 69-mile drive in two hours. But stop off at the high country general stores and enjoy yourself. A half day should do just fine.

Route 66: At first, the idea of going out of your way to motor 2,400 or so miles across ancient potholed remnants of the former highway between Chicago and Santa Monica doesn’t sound like a lot of fun. Add in blazing summers from southern Illinois through Texas, New Mexico and Arizona and you have something downright blacktop hellacious. Still, the draw of what’s left of the two-lane-and classic stops like Amarillo, Texas, and Seligman, Ariz.-make the “Mother Road” something that transcends weather.

Check out the great old La Posada hotel in Winslow, Ariz., a former Harvey House restored by a couple transplanted from Laguna Beach. When your wheels are spinning across the miles of pavement, turn up the radio and crank up the AC. Or if you can, just put the top down and drive fast.

Highway 61: Bob Dylan immortalized the “River Road” that runs beside the Mississippi River from Minnesota to New Orleans. My favorite stretches are the bluffs and forests north of Red Wing in Minnesota, the great riverside town of Davenport, Iowa (excellent minor-league ballpark and the birthplace of chiropractic adjustments), and the legendary Delta blues country south of Memphis to about Vicksburg, Miss. Stop off in Clarksdale, Miss., where legend says guitarist Robert Johnson sold his soul to the devil at the “crossroads” with Highway 49. Maybe that explains why in summer, it’s hot as hell in these parts.

Have a safe and happy summer - Alexandra Zega, Realtor

Courtesy of Gary Warner - © 2008, The Orange County Register (Santa Ana, Calif.).
Distributed by McClatchy-Tribune Information Services.

RISMEDIA, June 4, 2008-June is Internet Safety month. With hundred of millions of teens, pre-teens-and adults-around the world using social networking sites, there’s no better time for parents to be aware of the fun, the benefits, the powerful attractions, and the potential risks that MySpace, Facebook and other similar sites offer their children.

InternetSafety.com, a leader in Internet safety solutions, has assembled a list of practical tips parents can use to ensure a safe networking environment for kids:

1. Show Interest - Ask questions about how your child’s preferred social networking site or sites work. Kids are generally happy to demonstrate their knowledge if you show genuine interest. You can even ask your teen to show you how to set up your own social networking site-a great way to visit your child’s page and see what’s been posted there.
2. Encourage Instinctive Responses - Kids often can instinctively do the right thing, which makes them their own first defense against those who may take advantage online. Encourage your children to avoid contact with people they “feel funny about.” Tell them to not reveal anything online they would not want a stranger to know. Limit the posting of pictures and remind them that once something is placed online, it can never be taken back.
3. Know Your Kids’ Passwords - If your child changes his or her password suddenly and refuses to share it with you, that’s trouble. Insist on knowing how to access his or her accounts-then keep their confidence by not sharing the information with their friends or siblings.
4. Set Hours for When Kids Can Access Social Networks - Late nights are the favorite time for predators to seek out their adolescent prey. Set firm limits not only for the time of day, but also the total amount of time, that your children may access social networking sites.
5. Be Aware of Alternate Access Points - Kids don’t have to access their social networks at home. Libraries, friends’ houses, even cell phones make the Internet easy to reach today. Keep up with what’s happening on your child’s social networking page and be aware when changes have been made despite the lack of access from home.
6. Exercise Your Parental Right to Supervise - There’s a difference between being snoopy and ensuring safe activity. You don’t have to read every last word of a personal message your son or daughter sends to a friend. But you do have the right-and the obligation-to see who your kids are talking to, and to know the general subject matter.
7. Check for Photos - By clicking on the Windows “Start” button, you’ll find the “Search” tool. Click on “Pictures, Music or Video,” the box next to “Pictures and Photos,” and finally “Search”. Ask your child to identify any photos of strangers, or any other pictures you find questionable.
8. Install Filtering Software - PC products like Safe Eyes allow parents to block or record Instant Messenger chats, limit e-mail use to prescribed addresses, block objectionable websites (including peer-to-peer file sharing programs that often expose kids to inappropriate material), and receive alerts when kids post personal information on social networking sites.
9. Watch for CyberBullying - Encourage your children to tell you immediately if they are being harassed online. Children also need to know that it is not acceptable to be a party to cyberbullying-or to remain silent when they know others are being harassed.
10. Don’t Lecture - Finally, if you should find reasons for concern, don’t browbeat, insult or condescend to your child. Have a discussion about values and why they are important. Respect your child but be firm. And most of all, lead by example. Parents have a powerful ability to influence their child’s behavior-and nothing is more powerful than someone who not only talks values, but lives them.

“Parents should never feel that their level of involvement in their child’s social network activity is excessive. Since 1998, the National Center for Missing and Exploited Children’s CyberTipline has logged over 33,000 tips about children being enticed online for sexual acts,” said Shane Kenny, President and COO of InternetSafety.com. “Better that the parent error on the side of intrusion, rather than bear the consequences of doing nothing.”

 

RISMEDIA, May 30, 2008-(MCT)-For people about to lose their homes to foreclosure, the advertisements are like a lifeline: “WE BUY HOUSES FOR CA$H,” or “Refinance Your Mortgage! And Receive a 7 Day Vacation.”

These so-called mortgage-rescue companies promise that for fees of about $1,000 to $2,500, they can negotiate loans with providers to get owners lower monthly payments. Or they offer deals that suggest homeowners temporarily deed their homes to the company or a third party, theoretically to allow the homeowners time to get back on their feet financially.

But in some cases, these “solutions” have turned out to be far worse than the problem.

At a time when the subprime mortgage crisis has caused a record number of homeowners to enter foreclosure, scam artists have made a bustling industry of preying on people’s desperation to save their homes.

States are leading the effort to help homeowners avoid these scams; at least 18 states have laws banning foreclosure-rescue scams by limiting some of practices that lead to them, and six of them-Idaho, Maine, Nebraska, Oregon, Virginia and Washington- enacted laws just this year, according to the National Conference of State Legislatures. A similar bill is now on the desk of Florida Gov. Charlie Crist (R).

The measures include giving homeowners a few days to cancel their contracts with these companies without penalty, requiring that a homeowner receives at least 80 to 82% of a house’s fair market value if it’s sold and requiring a written contract, which may even designate the size of type it contains.

“You’ve got to let the word get out there that we’re not going to tolerate preying on people who are at the bottom of despair,” said Washington state Rep. Patricia Lantz (D), who sponsored her state’s bill. “This is a deterrent to the worst of the worst.”

Before this year, Maryland already had a law that targeted foreclosure scams, but during the recent legislative session, the state enacted the country’s toughest statute: a ban on all rescue transactions that involve homeowners signing away the deeds to their homes.

Only Washington, D.C., which acted this year, and Massachusetts have similarly stringent rules. The Bay State permanently banned for-profit foreclosure-rescue transactions through a regulation issued by the attorney general.

Legitimate foreclosure rescue services are often nonprofits and don’t normally charge upfront fees; also, homeowners usually come to them seeking help.

The scammers, on the other hand, find potential victims by combing through public records to see who is in danger of being foreclosed. Then they bombard them with calls or direct-mail solicitations that sometimes look like letters from a government agency. One company that operated in Idaho sent out notices to homeowners falsely claiming that their homes were “scheduled to be sold at auction” and instructing them to call the company. In some cases, consultants have even shown up on owners’ doorsteps to drum up business.

In one type of scam, a consultant demands an upfront fee of $1,000 or more to negotiate with the loan provider on the owner’s behalf for a more affordable loan, but then the company does little or nothing. Besides being $1,000 poorer, the owner also has lost valuable time he or she could have used to work out a plan with the provider.

April Charney, an attorney at Jacksonville Area Legal Aid in Florida, said she has a client who paid $1,200 to HomeSavers USA to help her work out a deal with her loan provider. The company-which in February reached an agreement with the Illinois attorney general to stop operating in that state-took the money and then did little to help the client. Now Charney is trying to negotiate to get the $1,200 applied to her client’s mortgage.

“Instead of having that money applied to her mortgage arrears, which might have brought her current, it just sunk her further in the hole,” Charney said.

In another common rescue scheme, the foreclosure consultant convinces a homeowner to sign over the home’s title, either to the consultant or a third party. The homeowner remains in the house and pays rent, believing that he is buying time to get back on track and that the consultant will eventually sell the home back to him again.

But in some cases, the rent charged to the homeowner is even higher than the mortgage payments. If the homeowner can’t pay, he’s evicted. Or the consultant refinances the house, often multiple times, draining the equity.

Sometimes, property owners don’t even know they have given away their homes. In Florida, many of the victims of this scam are elderly, uneducated or don’t speak English, said Carolina Lombardi, a staff attorney at Legal Services of Greater Miami Inc.

“They’re literally tricked. They sign a stack of papers with no concept they’re signing a deed. They think they’re refinancing,” she said. “Or they know they’re signing their deed, but they’re told, ‘we’re just holding this for you until you establish you can improve your credit.’ They’re desperate, and it seems reasonable.”

Without laws against rescue scams, prosecutors can go after the perpetrators by claiming they violated deceptive-advertising statutes, but the threshold for proving fraud is high. Additionally, when the scammer produces a stack of contracts the victims have signed _ even if the owners were deceived about what they were signing _ prosecutors have no case against the rescue consultants.

State attorneys general are often the driving force pushing for their states’ laws. Massachusetts Attorney General Martha Coakley’s (D) in September bypassed the Legislature and issue a regulation banning for-profit rescue transactions under the state’s consumer protection act. An attorney at Florida Legal Services said her group had futilely tried to get a law enacted for years, and this year’s bill passed only because it was proposed by Attorney General Bill McCollum (R).

Illinois Attorney General Lisa Madigan (D) saw early on the looming problem posed by rescue scams. The Legislature there passed a bill she drafted in 2006, which gives homeowners five days to cancel a rescue contract and requires rescue firms to pay the homeowner at least 82% of the fair market value if he or she cannot buy back a home after signing the deed away.

“These people are parasites, and they are attacking the people who are already desperate and who are vulnerable,” she told Stateline.org. “It’s the worst financial scam that we’ve seen perpetuated against homeowners.”

Since the law’s enactment, Madigan has reached a settlement with at least one company, HomeSavers USA, that bans it from operating in the state, and her office has 12 current lawsuits against rescue schemes.

At the same time, she has seen a drop in activity. “A lot of these individuals and companies that were running these scams have left Illinois. It’s not beneficial for them,” Madigan said.

Other states’ attorneys general have also been targeting the foreclosure rescue consultants.

In March, Idaho’s attorney general reached an agreement with one company to stop doing business in the state. The Washington state attorney general got Foreclosure Assistance LLC to agree to refund about $75,125 to 200 customers, though the $300 to $500 each victim will get is far less than the $1,200 to $1,500 each one paid the company.

© 2008, Stateline.org
Distributed by McClatchy-Tribune Information Services.

On a personal note: If you are facing foreclosures speak to a Realtor you can trust and has experience. I have a whole team to help homeowners in these difficult times. I work with an experienced attorney and a professional loss mitigator. And our services are free of charge. We have helped many distressed homeowners avoid foreclosure. So, get the facts and ask questions. - Alexandra Zega, Realtor - 508 662 6047

 

 

Here's a look at 12 common credit report myths and what the truth really is:

1.	Paying my debts will make my credit report instantly pristine.
2.	I must give permission for a company to see my credit report.
3.	Credit counseling always destroys my credit score.
4.	Canceling credit cards boosts my score.
5.	Too many inquiries hurt my score.
6.	Checking my own credit report harms my standing.
7.	FICO scores are locked in for six months.
8.	I don't need to check my credit report if I pay my bills on time.
9.	All credit reports are the same.
10.	A divorce decree automatically severs joint accounts.
11.	Bad news comes off in seven years.
12.	I can always pay someone to fix or repair my credit.

From Bankrate.com

 1. Paying my debts will make my credit report instantly pristine.
A credit report is a history of your payments, not just a snapshot of where you are at the moment, says Maxine Sweet, vice president of public affairs for Experian, one of the three major credit reporting agencies. As the author of the popular Web column "Ask Max," she continuously reminds people that you can't change the past.

2. I must give permission for a company to see my credit report.
It's scary, but the fact is that unless it's for employment purposes, your signature or consent is irrelative.

3. Credit counseling always destroys my credit score.
Attending a credit counselor's debt management program is not considered negative in the scoring models.

"We don't want consumers to consider credit counseling to be detrimental to their FICO scores," says Craig Watts, public affairs manager at Fair Isaac Corp., the company that developed the FICO score.

However, if the credit counselor negotiates a lesser contractual obligation, the lender decides how it wants to report that. So if your $500 monthly payment is refigured for $300, the creditor may either legally report that as $200 in arrears every month or reward you for not filing bankruptcy by reporting the account as up to date.

"As long as the accounts are delinquent and not brought up to date, it will be viewed negatively by lenders," says Deborah McNaughton, owner of Professional Credit Counselors and author of "The Get Out of Debt Kit." However, she says, "if everything is current, whether it's a home loan or not, they're not going to view it as negative. The FICO scores are not affected by it." The credit score system ignores any reference to credit counseling that may be in your file.

Although credit counseling does not by itself influence your credit score, it is apparent on the report that you've been through, or are currently in, counseling -- and that is something individual lenders may not like. Or they might never know.

"If they looked manually at your credit report and saw that debts were being repaid through a debt management program, they probably wouldn't open a new account for you," Sweet says. Of course, "you shouldn't be opening a new account if you're in a debt management plan."

However, most lenders these days will never see your actual report.

"They don't look at reports manually anymore," Sweet says. "Some small creditors might, but most of any size use automated scoring systems of one model or another."

Once you've successfully emerged from credit counseling with your formerly tattered credit pieced back together, the history of consistent payments is what matters the most. "Even mortgage lenders will work with consumers who have successfully gone through debt management counseling and will work to get them a mortgage," McNaughton says.

4. Canceling credit cards boosts my score.
Open accounts spells available, potential debt, so better to close them, runs the legend. But experts agree that most creditors want to see at least two or three pieces of active credit to prove you can manage debt responsibly.

And, Watts chimes in, those unused cards lying in your jewelry box aren't wreaking havoc with your score.

"The myth is that they look ominous to potential lenders," he says. "Reality is that paying your bills on time and not being overextended is more important than having $5,000 worth of available credit on a card you're not using. We continue to evaluate this 'open to buy' statistic, and we simply don't find it falling into one of those highly predictive areas."

On the other hand, extremes never look good. Opening one charge account occasionally to take advantage of a 10 percent offer is negligible. Going wild and signing up for five during the holiday season probably would invite a decreased score, he says.

5. Too many inquiries hurt my score.
Once upon a time, this statement was true. But get with the times -- in this millennium, the credit agencies recognize a shopping mind-set when they see one. If a batch of mortgage or car loan inquiries arrives within 30 days, it doesn't count at all, Watts says.

"Outside that 30-day period, if we locate a mortgage or car inquiry that occurred 180 days ago, and then see more mortgage- or auto-related hits in the accompanying 14-day window, we err on the consumer's side and still assume she's shopping for one item," he says.

"We really feel like we are capturing the true consumer experience and not holding it against them for being an aggressive or smart rate shopper."

Furthermore, there's no such thing as some fixed number of points associated with these inquiries, Watts says.

"Inevitably when a consumer or a lender evaluates a credit file, they think this item must be worth 20 points, this is worth 100 points," he says. "In reality we design the FICO scoring model so that each credit report item is given a reasonable or statistically valid number of points."

In English, that means FICO is designed to predict the likelihood that you'll fall seriously behind in repaying one of your creditors within the next two years. Some things have predictive value and some don't. Inquiries fall in the middle.

"They're not incredibly predictive, so they're in the model but they don't drive the boat," Watts says.

6. Checking my own credit report harms my standing.
The reporting agencies distinguish between soft and hard pulls. When Target calls to check before issuing its line of credit, the agencies chalk that up as a hard pull and it counts against your score. Personal requests and credit counselors -- if they do it correctly, so insist on this as part of your agreement terms -- fall under soft pulls, which do not reflect negatively on the evaluation.

Using a company that promises credit reports as a perk can turn this myth into a self-fulfilling prophecy, however, McNaughton says.

Because they are merchants in disguise, their freebie costs you. Citizens must go directly to the three bureaus if they want a soft pull. Ditto FICO.

"Pulling your credit scores is quite empowering," says Watts. "You have a choice: You can either be very aggressive with your credit management and pull your score with some regularity or take a more passive approach once a year to see how all those credit cards are actually doing."

7. FICO scores are locked in for six months.
Fair Isaac Corp.'s models are dynamic, meaning that your FICO score changes as soon as data on your credit report change.

"When we calculate a score, for all intents and purposes it then goes away and is recalculated the next time someone pulls your file," says Watts.

8. I don't need to check my credit report if I pay my bills on time.
When the Consumer Federation of America and the National Credit Reporting Association analyzed credit scores in the summer of 2002, they discovered that 78 percent of the files were missing a revolving account in good standing, while 33 percent of files lacked a mortgage account that had never been late. Twenty-nine percent contained conflicting information on how many times the consumer had been 60 days late on payments.

"There can be a lot of other activity going on that you don't have any clue about," McNaughton says.

In her experience, 80 percent of all credit reports have erroneous information ranging from a wrong birth date to accounts you never applied for.

9. All credit reports are the same.
Way wrong. These days, most creditors across the country do report their information to all three major agencies: Equifax, Experian and TransUnion.

But "that was not true in the past," Sweet says.

And, because they are separate companies, the speed in which they update records isn't necessarily equal.

Additionally, the agencies use inquiry activity to update your address, phone numbers, employment status and the like. Because creditors typically pull only one company's report, it's possible that, say, TransUnion doesn't show your current address.

According to McNaughton, she's never seen a client yet for whom all three reports spit out the same records and scores.

10. A divorce decree automatically severs joint accounts.
The judge may have rubber-stamped your plans to divide credit card, car and house payments, but that carries absolutely no legal weight with the creditors themselves, Sweet says.

"We see so many people who, a year or two after the divorce, are just outraged and hurt because their credit report reflects their ex-spouse's missed payments," she says.

Unfortunately, at that point, they are helpless to erase the damage.

Divorcing parties must contact the creditors and either close current accounts or have the booted name sign a letter of consent for this action. And assuming certain debts isn't a unilateral decision on your part, says Sweet. Creditors typically do a credit check on your name and if they don't deem you financially stable enough to assume that $30,000 car loan, for instance, they won't agree to remove the other person.

11. Bad news comes off in seven years.
Some of it does. Chapter 13 (reorganization of debt) disappears seven years from the filing date. But if you filed Chapter 7 bankruptcy (exoneration of all debt), the window is 10 years from the filing date.

On the good-news side, accounts in bankruptcy can be deleted seven years after the date of your first missed payment, so those individual pieces may disappear before the word "bankruptcy" on your report. And if you pay off or close an account that had no delinquencies or problems, it, too, remains on the record for 10 years rather than the previous seven, say Experian experts. Again, this means positive information hangs around longer, as a consumer benefit.

12. I can always pay someone to fix or repair my credit.
Yes, you can clear up erroneous information posted to your account, such as a repossessed car that you didn't purchase in the first place, but if you paid your Sears bill three months late in 1997, that's a hard fact.

Companies claiming to fix your credit deliver on their promises by generating a flood of dispute letters to the credit reporting agencies, which in turn ask the creditor to verify or document the entry. If they cannot, the listing must come off at that time. But if the creditor later does verify or document it, the agency slaps it right back into the file after 30 days.

 

RISMEDIA, May 28, 2008-Fannie Mae recently announced its Keys to Recovery initiatives, which is a part of the organization’s efforts to prevent foreclosures, support counseling efforts, and provide market stability in the wake of the housing and mortgage market downturn.

The initiatives are geared toward helping struggling borrowers stay in their homes, assisting prospective home buyers with home purchases, and stabilizing impacted communities. Here is a summary:

Keys to Recovery Initiatives

Fannie Mae’s Keys to Recovery^TM initiatives are geared toward providing liquidity, stability, and affordability to the housing and mortgage markets for the long term, and includes steps to keep struggling borrowers in their homes, assist prospective home buyers with home purchases, and stabilize communities impacted by the mortgage market downturn.

The initiatives include:

1.) A new refinancing option for Fannie Mae “underwater” borrowers that will allow for refinancing up to 120% of a property’s current value;
2.) A renewal and expansion of the company’s partnership with State Housing Finance Agencies (HFAs) to provide $10 billion in financing for qualified, first-time home
buyers;
3.) In partnership with Self-Help, a new initiative that allows families in hard-hit communities to reside in foreclosed properties on a rent-to-own basis; and 4) pricing for new jumbo-conforming loans that will be flat to conforming for portfolio asset acquisition through the end of the year.

Refinancing “Underwater” Borrowers

With home prices declining in many areas of the country and lending standards tightening as a result of the ongoing turmoil in the housing finance system, many borrowers find themselves with mortgages that exceed the value of their homes and are locked out of refinancing into safer loans that would allow them to sustain their mortgage payments.

In order to assist borrowers whose home equity is “underwater,” reduce foreclosures, and support sustained homeownership, Fannie Mae will purchase refinanced loans the company owns for up to 120% of the current property value provided the borrower is current with their mortgage payments.

HFA Investment

HFAs exist to provide affordable homeownership and rental housing opportunities within their states. The majority of HFA single-family business is for first-time home buyers who have received borrower counseling and down payment and/or closing cost assistance from the government.

Fannie Mae has maintained a long-term agreement with the National Council of State Housing Agencies (NCSHA) to purchase loans generated by the HFAs. The company is renewing and expanding its agreement with NCHSA to purchase up to $10 billion in HFA loans by the end of 2009. In addition, the company will provide access to low down payment mortgage products at competitive prices, resulting in more advantageous financing opportunities for first-time home buyers.

Neighborhood Stabilization

In order to minimize the neighborhood impact of foreclosed properties, Fannie Mae will support an initiative with Self-Help in partnership with local nonprofits to purchase foreclosed homes in hard-hit neighborhoods.

The nonprofits would acquire and rehab the properties, and then sell them to qualified borrowers or enter into a customized lease-purchase agreement. The initiative will be geared toward borrowers who have the income to qualify for the home purchase, but need additional time to improve creditworthiness. Participants choosing the rent-to-own option would be granted up to five years to qualify for the mortgage and receive extensive credit counseling during the lease period.

Jumbo-Conforming Loans

Following passage of the Economic Stimulus Act of 2008, Fannie Mae is temporarily able to purchase loans greater than the conventional-conforming loan limit of $417,000. In certain high-cost areas as designated by HUD, the company is able to purchase jumbo-conforming loans up to $729,750 in the continental U.S. The company is now accepting deliveries of 15-year and 30-year fixed-rate (FRM), and certain adjustable-rate (ARM), jumbo-conforming mortgages.

In order to bolster liquidity in the jumbo-conforming market and help reduce rates for jumbo-conforming mortgages in high-cost areas, the company will now:

• Price new jumbo-conforming loans flat to conforming for portfolio asset acquisition through the end of the year. This means that although jumbos are not TBA-eligible, we will be pricing them as if they were.

• Allow for cash-out, jumbo-conforming loan refinancings.

• Expand loan-to-value (LTV) criteria for jumbo-conforming purchase loans and limited cash-out refinancings.

• Offer expanded jumbo-conforming FRM and ARM options.

HomeStay

The company’s Keys to Recovery^TM efforts build on Fannie Mae’s HomeStay® initiative announced last year.

The company is working with lenders, loan servicing companies, and policy makers to respond to the housing and mortgage market crisis with a goal to minimize the impact on families and communities by preventing foreclosures, supporting counseling efforts, and providing market stability.

Through HomeStay®, since the beginning of 2007, the company has:

• Helped more than 200,000 at-risk homeowners refinance into safer loans or work out their loans, including nearly $28 billion in refinancings for subprime borrowers.

• Provided more than $10 million in grants - and hundreds of employee volunteer hours - to support foreclosure prevention counseling and workshops since the housing crisis deepened last year.

• Worked with loan servicers to emphasize work-outs for delinquent loans, instituted attorney incentive fees for workouts, provided HomeSaver Advance^TM loans that allow borrowers to catch up on their delinquent mortgage payments, deployed staff to work on-site with our largest servicers, and made dozens of operational changes and enhanced servicer authorities to allow for easier modifications and work-outs.

• Supported HOPE NOW initiatives and public policies to give at-risk and delinquent borrowers a better chance to afford their mortgages.

National Down Payment Policy

On May 16, 2008, the company announced a new, single down payment policy in all communities across the nation for conventional, conforming mortgages the company will purchase or guarantee. Starting with loan applications taken on June 1, 2008, Fannie Mae will accept up to 97% loan-to-value ratios for conventional, conforming mortgages processed through its Desktop Underwriter® automated underwriting system, and 95% loan-to-value ratios for loans underwritten outside of Desktop Underwriter, in all geographic locations in the United States.

This new national down payment policy will supersede the “Maximum Financing in Declining Markets Policy” Fannie Mae adopted in December 2007, which required higher down payments in markets where home prices are declining. The new policy now equalizes down payment requirements across the country, regardless of local market conditions.