By Tony Stevenson, SWBC . On Monday, Pre

By Tony Stevenson, SWBC
. On Monday, President Obama announced an extraordinary initiative to help homeowners refinance. Since this has been all over the media this week, I thought I would clarify what is going on.The program is designed to help people who have not been able to refinance to lower rates because the current value of their home has fallen. This program does not impact anyone who would normally qualify, nor are there any special rates for the program. There are several qualifying criteria. First, your home loan must be more than 80% of your home value. Second, your existing loan needs to be current. Third, your current loan must be owned by either Fannie Mae or Freddie Mac and must have been sold to them on or before May 31, 2009. You can check at these locations:
• For Fannie Mae: http://www.FannieMae.com/loanlookup or 800-7FANNIE (8 am to 8 pm ET).
• For Freddie Mac: https://ww3.FreddieMac.com/corporate or 800-FREDDIE (8 am to 8 pm ET).
There are unprecedented features of the program that are once-in-a-lifetime. For example, there is no limit to how high the loan-to-value ratio can go. In many cases, an appraisal may not be required.

The final details won’t be released until November 15th, and loans are unlikely to be available until January of 2012. However, I suspect this program will be heavily subscribed.

Local Economic News by Tony Stevenson, S

Local Economic News by Tony Stevenson, SWBC
As we wait on the Nation’s unemployment report this Friday, The Workforce Solutions Alamo 12-county area includes Atascosa, Bandera, Comal, Frio, Gillespie, Guadalupe, Karnes, Kerr, Medina, and Wilson Counties. Gillespie County reported the lowest unemployment rate in September at 4.8%. Texas reported an 8.4% rate compared to the Nations of 9.0%. Our State is actually doing a pretty good job of attracting new businesses & jobs, The Mexican Business Owners Association who’s members live in San Antonio are recruiting other Mexican business owners to expand to the U.S. market in San Antonio and Texas. More businesses moving to Texas/San Antonio, calculates into more jobs.

Historical Society Preserves the Holiday

Historical Society Preserves the Holidays with Preservation Week Activities
 Holiday Home Tour: Saturday, December 3 from noon until 6:00 p.m.
 Tannenbaum Ball: night of cocktails, dinner and dancing Saturday, December 10 at the Lady Bird Johnson Municipal Park’s Pioneer Pavilion.

Experience old-fashioned Gemütlichkeit t

Experience old-fashioned Gemütlichkeit this holiday season as the winner of CVB Holiday Getaway. Win a $300 gift certificate to a unique bed and breakfast through Gastehaus Schmidt; two passes to the ‘funtabulous’ Christmas show at Rockbox Theater; a $60 dining certificate to Navajo Grill Restaurant; a $40 dining certificate to Texas’ oldest brewpub, the Fredericksburg Brewing Company; and two passes to the National Museum of the Pacific War — a total sweepstakes package worth $500! Just ‘like’CVB on Facebook and you’re entered to win! You’d better hurry. Winner will be randomly selected mid-December.

Putting up your Christmas Decorations th

Putting up your Christmas Decorations this weekend? Don’t forget the Christmas Lighting contest Century 21 Sunset, Realtors is sponsoring. See the newspaper or our website for entry blank.

As we express our gratitude, we must nev

As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them. ~John Fitzgerald Kennedy
Happy Thanksgiving to all!

Fredericksburg kicks-off the Christmas h

Fredericksburg kicks-off the Christmas holidays on Friday (Nov 25) after Thanksgiving at 7:00 p.m. during our Christmas Pyramid and Tree Lighting Ceremony. Gingerbread Village, Tunnel of Lights, and Nutcracker dancers.

Test your skating skills at the Eisbahn

Test your skating skills at the Eisbahn Ice Skating Rink located at the Fredericksburg Marktplatzt. It’s fun for the whole family and the skate rental is included with admission. This outdoor rink is open November 25 through January 1.

Between $195,000 and $250,000 there are

Between $195,000 and $250,000 there are 50 residential homes in town and in the country for sale in Gillespie County.

List of Area Restaurants to be open Than

List of Area Restaurants to be open Thanksgiving Day at Fbg Convention & Visitor Bureau 830-997-6523,visitorinfo@fbgtx.org..