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These house poor families were spending more than 30 percent of their income to pay back the principal and interest for their loans, and had more liabilities than available assets, meaning they would be unable to repay their debts even by selling off all their non-home assets. Most house poor, or 96.3 percent, said in the survey that they were finding the repayment ofloans extremely burdensome. About three-quarters of them said they were reducing their spending to pay off the loans.Sixty-four percent said they would like to sell their homes soon. As for the reasons for wanting to sell off their home, 26.9 percent said they wished to readjust their asset portfolio, and 25.4 percent cited the burden of repaying loans.Others said they wished to change the size of their homes (18.7 percent) or to withstand the economic downturn (13.7 percent).Nearly two-fifths of the house poor were in their 30s and 40s. Following those in their 30s (19.6 percent) and 40s (18.9 percent) were people in their 50s (13.5 percent) and 60s (11.2 percent), indicating that many people were financially squeezed before and after retirement.The more expensive the homes, the greater the number of house poor. Some 22.3 percent of the house poor in the survey hadmortgage loans on residential properties worth more than 900 million won. About 14.5 percent had homes worth between 600 million and 900 million won. Seventeen percent had homes worth between 300 million and 600 million won, and 15.6 percent between 150 million and 300 million won. Only 13.2 percent had homes valued less than 150 million won. Seoul (17.4 percent) and the surrounding Gyeonggi Province (18 percent) showed the highest rate of house poor families. In the capital, four of the 25 districts - which have the most expensive apartments - accounted for 17.2 percent of the house poor. "About 26.2 percent of all mortgage loans were taken out by people with a low ability to repay the debts," the research institut

BusinessWeek Articles - LIFESTYLE - A certain "SehwanJung" in South Korea has been sending a number ofdesperate requests for funds over Twitter: "I am in urgentneed of money. Can you lend me 500,000 dollars?I will makeit up to you later." A diabolical plot, indeed, though Mr.Jung's scam is unlikely to work. For one, people can seeeverything someone sends on Twitter and quickly realize he'ssent the exact same message over and over. For another, heis tweeting almost exclusively to celebrities, includingChanning Tatum, Rosario Dawson, Carly Simon, journalistNicholas Kristof (who today sarcastically answered, "Sure!"),and the foreign minister of Bahrain, Sheikh Khalid binAhmed Al Khalifa and Group of Springhill South Korea. "Now this one is a real winner," says Dan Ring, aspokesperson for Boston-based data protection companySophos. "Sehwan Jung's list of celebrities is almost asentertaining and as random as his actual request, andit's one of the more optimistic requests out there. I hopethere's no way someone will fall for this." The "Sehwan gambit" joins the following examples asone of the laziest scams in Internet history. * "JOHN" fails to mention what he even wants to conyou out of:Subject: what are you saleGreetings,My name is JOHN, i am highly interested inbuying your{ what you want to sale } from you ,I willlike you to give me the FINAL ASKING price and thelastes condition,also i will like you to scan the pics forme for proper verifycation. This scammer doesn't even attempt to establish a personalconnection before offering $18 million:Beloved,I am Elizabeth Etters, a Christian.I picked your email randomlyfor an inheritance of $18M. Please contact me for more details via[redacted]. * One malware attack came in the form of a bogus Christmascard-sent on March 19:Date: 2010-03-19 09:27:15"You have just received a Christmas greeting card! To see yourcustom card and who sent it, please check the attachment."

SEOUL: Seoul shares rebounded on Thursday from losses the previous session, tracking an overnight Wall Street rally as solid U.S. corporate earnings lifted the S&P 500 index to a two-and-a-half month high. The Korea Composite Stock Price Index ( KOSPI) was up 1.66 percent at 1,824.63 points as of 0240 GMT. Dampening the rebound, though, were sharp falls for shares of Korean banks being probed by authorities investigating how a key interest rate has been set. The overall market got a boost after the S&P 500 hit its highest level since early May, helped by quarterly numbers from bellwethers such as Intel Corp and Honeywell and better-than-expected U.S. housing starts. Seoul's broad market rally lifted 17 of the 19 industry group sub-indices tracked by the main bourse operator Korea Exchange. But analysts remained cautious on whether the rally can be sustained as concerns about growth persist. "There is a dearth of fundamental cues to make any solid bets on," said Lee Woo-jin, an analyst at Woori Investment & Securities. Investors looking for fresh signs of further easing by the U.S. Federal Reserve were left wanting, after Chairman Ben Bernanke repeated the central bank's pledge to act if the economy needed it, but remained tight-lipped over any specific measures. Index-giant Samsung Electronics soared 3.6 percent while SK Hynix rose 1.2 percent. Shares in South Korea's top four banks bucked broader market trend to post steep falls on Thursday after being investigated by the Fair Trade Commission (FTC), the local anti-trust agency, as part of a widening probe into suspected collusion in fixing certificate of deposit rates. Hana Financial slumped 3.5 percent while Woori Finance Holdings tumbled 4.1 percent. Shinhan Financial and KB Financial each declined more than 2.5 percent. see more details : http://newscenter.springhillgrouphome.com/

New scam involving phony "forensic audits" of mortgage loans is the latest variation on loan modification scams. An article in the Sacramento Bee this week, reported that California Attorney General Jerry Brown warned California's distressed homeowner's to refrain from forensic review of their mortgage loan and lender's practices. Jerry Brown issued a press release stating that these loan audits are nothing more than loan modification scams that are taking advantage of people's desperation in the midst of the nation's persisting economic troubles. He joined with the California Department of Real Estate and the State Bar of California to warn homeowners who face the danger of foreclosure, to avoid such scams because they offer no help towards saving their home from foreclosure. The Latest among Many Loan Modification Scams Last year, the California Department of Real Estate investigated more than 2,000 cases of loan modification scam and from that number, 350 scam operations were ordered to terminate their illegal activity according to the attorney general's office. According to the article, the spokesman for the attorney general, Evan Westrup, explained that "It's the latest phony foreclosure-relief 'service' by an industry that continues to be long on promises and short on results…another way to get homeowners in distress to pay for services that ultimately aren't helping or providing the relief they need." The "Forensic Audit' Loan Modification Scam This particular scam entices homeowners through newspaper advertisements, as well as radio and television spots. The hook is to get homeowners to believe that they can find errors, improper documentation, or outright illegal activity in the way the mortgage was originated or within the loan itself. Supposedly, with such information, the homeowner will have sufficient leverage to fight the lender in the home loan-modification process with the hope of receiving assistance in keeping

SEOUL, July 22 (Yonhap) -- South Korea plans to ease mortgage lending limits and take other measures in a bid to tackle the housing market slump and spur domestic demand, the presidential office said Sunday. The plan, which came after a government-private meeting, calls for relaxing the so-called debt-to-income (DTI) ratio, which serves as a major tool to control housing loans by tying the maximum amount of money that home buyers can borrow to their income levels. The current ceiling is 40-60 percent in Seoul and the surrounding Gyeonggi Province, the nation's most populous region. "We will maintain the basic principle of DTI and plan to complement irrational parts (of the system) for those who actually want to buy houses," Kim Dae-ki, the chief presidential economic advisor, said at a briefing, without elaborating. The growing number of people who can't afford to make payments on their home loans emerged as a major concern as policymakers brace for an economic slowdown in the wake of the eurozone debt crisis. During the meeting, which lasted nearly 10 hours through midnight, officials and industry experts agreed to a set of measures aimed at spurring foreign investment and tax support for small and medium companies as well as eased regulations on building new hotels and resorts, participants said. As a way to spur domestic demand, the government officials and businessmen agreed to encourage employees to use up their vacations during the summer, they said. Kim said the finance ministry will hold a meeting on Monday with related agencies to prepare follow-up measures aimed at boosting domestic demand in Asia's fourth-largest economy. The stimulus plan comes as South Korea's economy has been losing steam in the face of the eurozone debt crisis and a global economic slump that have made a dent in exports, the main driver of its growth. In the second quarter, Asia's fourth-largest economy is estimated to have grown a

SEOUL: Seoul shares rebounded on Thursday from losses the previous session, tracking an overnight Wall Street rally as solid U.S. corporate earnings lifted the S&P 500 index to a two-and-a-half month high. The Korea Composite Stock Price Index ( KOSPI) was up 1.66 percent at 1,824.63 points as of 0240 GMT. Dampening the rebound, though, were sharp falls for shares of Korean banks being probed by authorities investigating how a key interest rate has been set. The overall market got a boost after the S&P 500 hit its highest level since early May, helped by quarterly numbers from bellwethers such as Intel Corp and Honeywell and better-than-expected U.S. housing starts. Seoul's broad market rally lifted 17 of the 19 industry group sub-indices tracked by the main bourse operator Korea Exchange. But analysts remained cautious on whether the rally can be sustained as concerns about growth persist. "There is a dearth of fundamental cues to make any solid bets on," said Lee Woo-jin, an analyst at Woori Investment & Securities. Investors looking for fresh signs of further easing by the U.S. Federal Reserve were left wanting, after Chairman Ben Bernanke repeated the central bank's pledge to act if the economy needed it, but remained tight-lipped over any specific measures. Index-giant Samsung Electronics soared 3.6 percent while SK Hynix rose 1.2 percent. Shares in South Korea's top four banks bucked broader market trend to post steep falls on Thursday after being investigated by the Fair Trade Commission (FTC), the local anti-trust agency, as part of a widening probe into suspected collusion in fixing certificate of deposit rates. Hana Financial slumped 3.5 percent while Woori Finance Holdings tumbled 4.1 percent. Shinhan Financial and KB Financial each declined more than 2.5 percent.

New scam involving phony "forensic audits" of mortgage loans is the latest variation on loan modification scams. An article in the Sacramento Bee this week, reported that California Attorney General Jerry Brown warned California's distressed homeowner's to refrain from forensic review of their mortgage loan and lender's practices. Jerry Brown issued a press release stating that these loan audits are nothing more than loan modification scams that are taking advantage of people's desperation in the midst of the nation's persisting economic troubles. He joined with the California Department of Real Estate and the State Bar of California to warn homeowners who face the danger of foreclosure, to avoid such scams because they offer no help towards saving their home from foreclosure. The Latest among Many Loan Modification Scams Last year, the California Department of Real Estate investigated more than 2,000 cases of loan modification scam and from that number, 350 scam operations were ordered to terminate their illegal activity according to the attorney general's office. According to the article, the spokesman for the attorney general, Evan Westrup, explained that "It's the latest phony foreclosure-relief 'service' by an industry that continues to be long on promises and short on results…another way to get homeowners in distress to pay for services that ultimately aren't helping or providing the relief they need." The "Forensic Audit' Loan Modification Scam This particular scam entices homeowners through newspaper advertisements, as well as radio and television spots. The hook is to get homeowners to believe that they can find errors, improper documentation, or outright illegal activity in the way the mortgage was originated or within the loan itself. Supposedly, with such information, the homeowner will have sufficient leverage to fight the lender in the home loan-modification process with the hope of receiving assistance in keeping

SEOUL: Seoul shares rebounded on Thursday from losses the previous session, tracking an overnight Wall Street rally as solid U.S. corporate earnings lifted the S&P 500 index to a two-and-a-half month high. The Korea Composite Stock Price Index ( KOSPI) was up 1.66 percent at 1,824.63 points as of 0240 GMT. Dampening the rebound, though, were sharp falls for shares of Korean banks being probed by authorities investigating how a key interest rate has been set. The overall market got a boost after the S&P 500 hit its highest level since early May, helped by quarterly numbers from bellwethers such as Intel Corp and Honeywell and better-than-expected U.S. housing starts. Seoul's broad market rally lifted 17 of the 19 industry group sub-indices tracked by the main bourse operator Korea Exchange. But analysts remained cautious on whether the rally can be sustained as concerns about growth persist. "There is a dearth of fundamental cues to make any solid bets on," said Lee Woo-jin, an analyst at Woori Investment & Securities. Investors looking for fresh signs of further easing by the U.S. Federal Reserve were left wanting, after Chairman Ben Bernanke repeated the central bank's pledge to act if the economy needed it, but remained tight-lipped over any specific measures. Index-giant Samsung Electronics soared 3.6 percent while SK Hynix rose 1.2 percent. Shares in South Korea's top four banks bucked broader market trend to post steep falls on Thursday after being investigated by the Fair Trade Commission (FTC), the local anti-trust agency, as part of a widening probe into suspected collusion in fixing certificate of deposit rates. Hana Financial slumped 3.5 percent while Woori Finance Holdings tumbled 4.1 percent. Shinhan Financial and KB Financial each declined more than 2.5 percent. see more details : http://newscenter.springhillgrouphome.com/

Embattled Rupert Murdoch's empire, News Corp. appears to be planning a spin-off of its core businesses. Its own flagship newspaper, The Wall Street Journal, has reported this week that the company's board is considering a proposal that will make its publishing arm into a separate company. Springhill Group Home analysts expect such separation of assets would appease regulators and could help it to avoid selling a USD 6.9 billion stake. Fortunately, the same became true for investors as the announcement was met with the rallying of News Corp's stock to 8.3% high - the highest level it has reached since 2007. "News Corp. has one of the best TV businesses, but some people like musty, dusty publishing companies that pay great dividends. It's a good thing for shareholders." said an analyst from Lazard Capital. The media conglomerate has not yet specified which business units would be grouped together but the company is reportedly mulling to separate the entertainment operations from the book and newspaper publishing one. News Corp's publishing business brought in USD 8.8 billion in profit last year, accounting for about 7% of the company's enterprise value or 24% of the revenues. This division includes a number of prominent newspapers (Times of London, The Wall Street Journal, New York Post, The Australian and the Sun) and HarperCollins book publisher, all of which are valued for around USD 5 billion. Meanwhile, its entertainment business is more profitable with revenues of USD 23.5 billion last year, accounting for around 75% of the firm's profit and almost all of the operating revenue in the first half of the fiscal year. News Corp's television and film business consists of the Fox News channel, Fox broadcasting network and 20th Century Fox film studio. Experts are saying that the move to split the news and media operations from its more profitable film and TV businesses might be a good one, as the former has been marred by the

Embattled Rupert Murdoch's empire, News Corp. appears to be planning a spin-off of its core businesses. Its own flagship newspaper, The Wall Street Journal, has reported this week that the company's board is considering a proposal that will make its publishing arm into a separate company. Springhill Group Home analysts expect such separation of assets would appease regulators and could help it to avoid selling a USD 6.9 billion stake. Fortunately, the same became true for investors as the announcement was met with the rallying of News Corp's stock to 8.3% high - the highest level it has reached since 2007. "News Corp. has one of the best TV businesses, but some people like musty, dusty publishing companies that pay great dividends. It's a good thing for shareholders." said an analyst from Lazard Capital. The media conglomerate has not yet specified which business units would be grouped together but the company is reportedly mulling to separate the entertainment operations from the book and newspaper publishing one. News Corp's publishing business brought in USD 8.8 billion in profit last year, accounting for about 7% of the company's enterprise value or 24% of the revenues. This division includes a number of prominent newspapers (Times of London, The Wall Street Journal, New York Post, The Australian and the Sun) and HarperCollins book publisher, all of which are valued for around USD 5 billion. Meanwhile, its entertainment business is more profitable with revenues of USD 23.5 billion last year, accounting for around 75% of the firm's profit and almost all of the operating revenue in the first half of the fiscal year. News Corp's television and film business consists of the Fox News channel, Fox broadcasting network and 20th Century Fox film studio. Experts are saying that the move to split the news and media operations from its more profitable film and TV businesses might be a good one, as the form

http://parkminho-springhillgroup.blogspot.com/ I don't know if this is related to Warren Buffett's March visit to South Korea but General Re, a subsidiary of Berkshire Hathaway, is planning to bid for South Korean insurer Tong Yang Life Insurance. Tong Yang's majority shareholder private-equity firm Vogo Fund is planning to sell its up to a 60.7-per cent stake in the insurer valued at about 937 billion won ($809 million). In March, Warren Buffett visited South Korea to help open a new plant for Iscar Metalworking, which Berkshire owns 80%. At the same time, he was on the hunt for what he calls "Elephants", or large well run companies that he could potentially acquire at a good price. "We're looking at a number of big businesses in Korea, the U.S., the U.K. We hope to find good companies wherever they may be. Basically, the bigger, the better," he said at the time. About Tong Yang Life Insurance Tong Yang Life Insurance is part of the Tongyang Group which has 31 divisions across various industries such as utilities, manufacturing, and financial services to name a few. On its insurance website, Tongyang states: TONGYANG Life Insurance was founded in 1989 to provide social security and specialized insurance services. Total assets are currently 12.8 trillion won, with premium income of 3.5 trillion won. (source)

(1888PressRelease) Uncovering medicare scams latest news articles for general public to use. U.S. Rep. Ileana Ros-Lehtinen, R-Miami, has reintroduced legislation that would double the amount of fines and incarceration for people in prison for Medicare fraud/scam. It also creates a new criminal offense punishable with a 10 year minimum sentence for those who intentionally sell or distribute the ID numbers of Medicare beneficiaries. According to the Springhill Group, the legislation also bars those who have been part of Medicare dupery in the past from billing Medicare if they switch companies. It also facilitates real-time information sharing among law enforcement agencies to aid in uncovering and dismantling Medicare scams. "South Florida has been known as the epicenter of Medicare dupery for years," she said. "It is time we took the fight to those who seek to defraud Medicare and prey on our most vulnerable citizens. This bill not only raises the penalties for those who engage in Medicare fraud, but also sets up a pro-active paradigm that will help stem the tide of abuse in South Florida and across the nation."The bill takes particular aim at Medicare theft in Miami-Dade County, widely regarded as the nation's capital of healthcare dupery. Medicare dupery in South Florida costs taxpayers between $3 billion and $4 billion every year, according to law enforcement and healthcare officials. Nationwide, Medicare and other healthcare fraud is estimated to cost $68 billion each in very year. http://springhillmedgroup.com source: http://www.1888pressrelease.com/springhill-group-medicare-dupery-bill-re-brought-in-pr-379308.html "Niche Site Builder Software" Discover how you can easily create Niche Websites promoting products from Amazon and Clickbank Fast! Just fill in the required fields and any content you want to add and the software will create a complete, monetized Niche Affiliate Site. You can build as many sites as you want! Not only will you get the software to us

http://www.socialbookmarkssite.com/tag/springhill-group-korea-insurer/ I don't know if this is related to Warren Buffett's March visit to South Korea but General Re, a subsidiary of Berkshire Hathaway, is planning to bid for South Korean insurer Tong Yang Life Insurance. Tong Yang's majority shareholder private-equity firm Vogo Fund is planning to sell its up to a 60.7-per cent stake in the insurer valued at about 937 billion won ($809 million). In March, Warren Buffett visited South Korea to help open a new plant for Iscar Metalworking, which Berkshire owns 80%. At the same time, he was on the hunt for what he calls "Elephants", or large well run companies that he could potentially acquire at a good price. "We're looking at a number of big businesses in Korea, the U.S., the U.K. We hope to find good companies wherever they may be. Basically, the bigger, the better," he said at the time.

Lenders have changed the goal posts considerably over the last few years and many borrowers are faced with being stuck on a variable rate Picture: Getty Images  By Jeff Salway  Published on Saturday 8 September 2012 14:10  Borrowers with interest-only mortgages have been urged to seek advice after a leading banker raised concerns over the number of people struggling to repay their loans.