Real Estate Information

Two months ago, NASA announced the broad outlines of its plan for an eventual lunar outpost on the moon built on the rim of a crater near one of the moon’s poles where there would be sunlight and Earth could be seen year-round. The outpost would serve as a base for lunar research and Mars exploration, and some envision an eventual platform for luxury hotels, astronomical observatories and helium-3 mining operations. NASA and its corporate partners are already building prototypes to test some unorthodox ideas, such as inflatable habitats. The metal-hulled modules used on the international space station typically weigh 30,000 pounds, which would be too heavy for moonships that are currently being planned to have a maximum payload capacity of only 13,000 pounds. Inflatable modules could get around that limitation. David Cadogan, research director at ILC Dover, said the modules would be compressed to fit a smaller space on NASA’s smaller spaceships, dropped off on the moon, and only then filled with air, equipment and all the comforts of a lunar home. Bigelow Aerospace already has lofted one inflatable test module into orbit and is gearing up to launch another one in April. Prototypes will be tested in Antarctica and other extreme environments on Earth. Twin giants of America’s space industry, The Boeing Co. and Lockheed Martin, are involved in planning efforts to start building a permanent moon base in 2010, but less conventional players include Illinois-based Caterpillar and allied companies that have been advising NASA on the dynamics of dirt and the challenges of moving heavy equipment over the lunar surface. (www.msnbc.com)
MSNBC.com (2/1/07); Alan Boyle

The Federal Reserve Board on Friday alerted the public to instances of questionable solicitations directed at homeowners.

The Federal Reserve has received inquiries and complaints from recipients of direct mail solicitations that suggest there is a "Community Reinvestment Act (CRA) program" that entitles certain homeowners to cash grants or equity disbursements. Some of these solicitations may be read to indicate that the Federal Reserve endorses or supports the offers they contain. These solicitations appear to be a deceptive effort to encourage consumers to apply for a mortgage loan secured by the consumer's home. The Federal Reserve cautions the public about loan solicitations or other offers from lenders or mortgage brokers that offer consumers cash grants or equity disbursements as part of a "CRA Program." No such federal programs exist and these programs are not required by the CRA.

The Community Reinvestment Act is a federal law that was enacted in 1977. It encourages depository institutions to help meet the credit needs of their communities, including low- and moderate-income neighborhoods, in ways that are consistent with safe and sound banking operations. The CRA does not entitle individuals to any grants or loans.

The Federal Reserve is also advising consumers that it does not endorse or sponsor mortgage loan programs. Consumers should be very suspicious of conducting business with lenders or mortgage brokers that make deceptive claims. Individuals who are considering taking out a loan using their house as security are urged to shop around. Comparing loan programs offered by a variety of different lenders can help consumers to get a better deal.

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• Fill out a new W-4 form for your employer every year
• Use the IRS W-4 calculator to decide how many allowances to claim. Go to www.irs.gov and click on “IRS Withholding Calculator”.
• Direct your reduced withholding into a separate account and save it or pay down credit card debt.