Abstract
An overview of the Nehemiah Corporation of California. The author explains that this corporation is the largest privately-funded down payment assistance program for affordable home ownership. This essay examines the purpose of this corporation, when it was developed and how it operates.

From the Paper
"The purpose of the Nehemiah Corporation of California named from a Biblical story in which Jerusalem was rebuilt is to provide affordable income to people. "Don Harris the founder of the Nehemiah Corporation of California, started this program at a time when government funds for housing and affordable housing programs were disappearing throughout our nation, and along with them, the American Dream of affordable home ownership. Now, The Nehemiah Program is the largest privately-funded down payment assistance program in the nation. Since 1997, The Nehemiah Program has assisted over 97,000 homebuyers to become homeowners nationwide." (Broder). Harris is a real estate lawyer who was approached by the owner of a 120-unit townhouse complex, annoyed that most of his prospective tenants couldn't afford to pay the down payment required for the homes. Harris then researched FHA and IRS regulations to learn that it was legal for a family member or a non-profit organization to donate money for down payments to qualified buyers."

Tags:assistance, down, payment, housing, afford, ownership, funding, private, finance

Abstract
This paper establishes a model to elucidate how low-income heads-of-households (LIHOH) decide to purchase a home. The paper explains that after the decision is made, the model will predict the outcome for the homeowners when certain variables are changed, such as interest rates and income. The paper then establishes a hypothesis, proposes a way to prove the hypothesis using social science work done in previous studies, and then examines the outcome. Next, the paper examines what additional evidence might be collected in new quantitative studies to bolster or challenge the hypothesis. This paper also argues that the boom in housing ownership in the United States during the 1990s was largely driven by lower-cost loans, rather than changes in consumer preferences amongst lower-income heads of household. The paper points out that recent interest rate rises and changes in the job prospects of low-income earners in the US should predict a lower rate of house ownership in the future.

Outline:
Introduction
Hypothesis
Methodology
Income
Expectations of Income Continuation
Previous Home Ownership
Down Payment
Interest Rates
ARM's (Adjustable Rate Mortgages)
Reverse Mortgages
Increasing Housing Prices
Non-Financial Home-Buying Incentives
Completing the Model's Assumptions
Results Analysis
Critiques of this Model
Need for Further Study
Conclusion

From the Paper
"Heads of household in poor households--defined as up to two times the official US poverty level of $16,000 per household (2004) in the US, or $32,000 (DeNavas-Wait). The rate of home ownership has increased in this segment of the US population during the 1990's (Belsky E. S. and Duda 1-45). Although many LIHOH figures are clouded by the mix between Hispanic, Black and other lower-income classifications, the trend towards higher homeownership in the 1990's is clear. According to the Federal Reserve Survey of Consumer Finances, more than 55 percent of lower-income households held debt in 2004, up from 45% in 1989."

Tags:money, socail, benefit, purchase, poverty

Abstract
While middle-class families in America now enjoy higher incomes than they did a few decades ago, they also exhibit more symptoms of personal financial distress and a reduced willingness to support basic public services. An important cause of both changes is the fact that taxes are increasing for middle-class families at a steady rate. We are in the beginning stages of a technological revolution that promises to increase the income and wealth gaps, already very high, still further. As a result, middle-class families will find it still harder to save and still harder to come up with a down payment on a house in a good school district. Their commutes will continue to grow longer, along with their reluctance to support essential services. Savings rates will continue to decline. These problems merit serious attention from economists and America's leaders. While there is no single solution to the woes of America's middle class, this paper hypothesizes that a feasible tax cut is in order. Many people argue that a tax cut is not the answer, saying that tax cuts usually disproportionately benefit the rich and harm the middle class. This paper addresses how the American tax system is increasingly disadvantageous to the middle class and demonstrates why tax cuts are needed and how they could benefit the middle class.

From the Paper
"It has long been said by the political left that the tax cuts of President Reagan and current President George W. Bush have favored the rich at the expense of the poor (Frank, 2000). Critics claim the rich are not paying their fair share of the tax burden while middle and lower class citizens are struggling to pay for health care, education, and other basic necessities. The obvious solution for big government advocates to level the playing field is to raise taxes on the rich. However, despite the political rhetoric denouncing the Bush tax cuts as a windfall to the rich at the expense of the poor, recent empirical evidence finds the rich do actually pay a substantial amount of the federal tax burden."

Tags:tax, policy, center, AMT, IRS

Abstract
This thesis focuses on the presale real estate market and the role finance plays in this niche sector, particularly to answer the question, "How can I price an asset in the presale marketplace?" The paper also examines the following issues: why there is a presale real estate market and how it works; the presale market in the U.S., Asia, and Europe; the effects of down payments; the option value theory and real estate presale; and why can the asking price for an unfinished building be more than that for a finished building? In addition, the paper considers other financial aspects of presales, both for the buyer and the purchaser.

From the Paper
"In order to understand the dynamics of presale property, it is important to be knowledgeable about the development process itself. When a developer has executed an option agreement for a potential development site, they must complete a preliminary market feasibility study. This is a study to determine the demand based on demographics such as population and to determine the residential needs of an area. This type of analysis is critical for the feasibility of any proposed development. The need for housing, the estimated population growth and the annual income per household are all important demographic information for helping to determine the presale pricing and contract."

Tags:contract, property, housing, finance, asset

Abstract
This paper examines the history and issues associated with health care financing and spending in the US. First, the paper notes how the federal government was originally involved in subsidizing employment-based health insurance through the tax code. Then, it addresses the shift from 1970 to 1990, which is known as the era of cost containment. During this time frame, different approaches were implanted in the system to try and keep down the cost of health care. These are presented in a list format. Finally, the era from 1990 to the present is discussed, especially in light health care spending which has significantly increased each year. The paper further explores the impact of the rising cost of health care on Americans, and why so many are uninsured. The paper concludes by evaluating the consumer's role at being more educated not only about what they are spending on health care overall, but on their health and well being in general.

From the Paper
"In 2008, employer health insurance premiums increased by 5.0 percent, which was two times the rate of inflation. The annual premium for an employer health plan for a family of four averaged nearly $12,700. The annual premium for single coverage averaged over $4,700. The problem seems to be that our health care system is challenged with inefficiencies, excessive administrative expenses, inflated prices, poor management, inappropriate care, and waste and fraud. These problems considerably increase the cost of medical care and health insurance for both employers and workers."

Tags:insurance premiums, health care payments, uninsured, well being

Abstract
This paper looks at the relationship between the financial incentives that are offered to physicians and their behavior and their ethics. It evaluates, through a literature review and data support, the belief that physicians are spending less time with their patients under pressure from Managed Care Organizations. It shows how because less time is being spent with the patients, the quality of care offered by the physician has gone down and how this is one of the problems with managed care.

Outline
Introduction
Background
Conflicts and Capitation
Purpose of this Research
Goals of this Research
Literature Review
Quality of Care Components
Payment Methods
Physician Behavior
Kaiser Family Study Theoretical Implications
Financial Incentives
Theoretical Implications
Ethics
Methodology
Results and Findings
Discussion

From the Paper
"There was a problem with the MCO system, however. It created a conflict of interest for many physicians. The main concern was that the quality of care was being compromised because physicians had to be careful how many tests they ordered and how many referrals they made. Because of the quota, there may have been people who needed more advanced care and didn't get it. Not all physicians minded the system, of course, because there are some people in every profession who are only out for the paycheck. The physicians that were dedicated to helping their patients, however, soon took issue with the MCO system."

Tags:managed, care, organizations, patients

Abstract
This paper discusses the messages conveyed in the film, "In Debt We Trust", which looks at multiple aspects of the consumer-driven debt many individuals have in the American economy. It discusses the cycle of debt and how corporations have taken advantage of people in order to make money. The paper makes two suggestions, one for individuals, and one for companies, for how to start changing their systems of payment to pay down debt in the future.

From the Paper
"Danny Schechter's 2006 documentary film, "In Debt We Trust" was marketed with the subtitle "America Before the Bubble Bursts" and the tag line, "The Money We Owe, and the Bill That's Coming Due" (Schechter). In our present-day context, we can see that the film and its concerns, as hinted at through its subtitle and tag line, were certainly right on track with the American economy. Indeed, watching the film two years after it first appeared in theatres feels at least a little uncanny or surreal, as so many of the potential problems discussed in it, including the predatory mortgage lending practices of banks, increased numbers of housing..."

Tags:film, economy, debt

Abstract
This paper explains that the generally accepted rule for banks that have issued a letter of credit, is that they do not need to look beyond the face of the documents to determine if a transaction involves fraud. The author points out that, if the documents on their face appear to be conforming documents, the bank will draw down the letter of credit, paying the beneficiary or seller. The paper states that, if the buyer can show apparent fraud before the bank pays on the letter of credit, then the buyer can approach the bank to prevent payment and can seek an injunction from a court if necessary. The author stresses that the bank can insist that all documents necessary to fulfill the letter of credit conform strictly. The paper presents cases and includes quotations.

From the Paper
"This essay considers the following scenario: In an international sales contract, buyer and seller agree that payment will be made through the use of a letter of credit. The buyer obtains a letter of credit from the bank, designating the seller as the beneficiary, and specifying the documents the seller must present to satisfy the letter. The seller presents documents which are on their face sufficient to warrant payment. These documents are forged or otherwise contain falsified information. Based on the documents, the bank pays the seller pursuant to the terms of the letter of credit."

Tags:independence, international, contract, injunction, appeals

Abstract
This paper explains how a capital lease and buying an asset work. The author points out the differences between the two methods.

From the Paper
" According to Warren Fees in his book "Accounting", a lease is a contract for the use of an asset for a stated or fixed period of time. The two parties to a lease are the lessor and the lessee. The lessor is the party that owns the asset. The lessee is the party to whom the right to control and used the asset are granted by the lessor. In return the lessee is obligated to make periodic payments to ..."

Tags:operating lease, capital lease, lease or buy, down payment, flexibility, options and alternatives, decision making

Abstract
This paper underscores the importance of noting that, in contrast to America, there are many distinctive characteristics of the Spanish real estate bubble. For instance, Spain regulators securitized assets conservatively thus mostly preventing the sub-prime crisis. Next, the author explores the causes of the Spanish housing bubble, for instance a sharp decline in real interest rates, demographic factors and credit expansion. The paper relates that the housing bubble, which supported Spain's economy, eventually burst resulting in a financial crisis. Action recommendations for overcoming this crisis are included.

Table of Contents:
Introduction
Trend in Housing Industry
The Bubble
Causes of the Spanish Housing Bubble
Effects of the Housing Bubble
The Present Situation
Keys to the Future
What Could Have Been Done to Prevent the Housing Bubble?
Conclusion

From the Paper
"Demographic factors also played a significant role in the housing bubble. The majority of the population was composed of a generation of baby-boomers. With their accumulated savings, these boomers were able to make the most of the ongoing real estate bubble. Furthermore, rapid increase of immigration which took place in the last decade provided an abundance of low-priced, unskilled labor for the construction industry and an increase in demand for housing. By 2005, 7% of Spain's population was foreigners, a percentage which could have reached an estimated 10% as of 2008."

Tags:securitization price unsustainable, non-performing loans, down payments