first_imgTony Kelly from Greencastle with Muhammad Ali donegaldaily.comA CO Donegal man has described his meeting with Muhammad Ali as “a dream come true.”Tony Kelly, from Greencastle, now lives in Louisville, Kentucky, where his wife is Megan is from. The couple met when Megan was working at an organic farm in Inishowen during a trip to Ireland.Twenty-four-year-old Tony knew Muhammad Ali lived in the city; but never dreamed he would meet him. Until last Friday that was, when Tony knocked on his hero’s door – and got to meet sporting and boxing legend.“I have always been a massive Muhammad Ali and never thought that I would ever get the chance to meet the legend,” plumber Tony told Donegal Daily.“But if the opportunity ever arose that I would take it. It was just my lucky day on Friday that I was across the road from his house.“When my work mates told me it was Ali’s house I was a bit suspicious but then I started to believe them. I said ‘feck it’ it, i’m gonna call down. “So at lunch time I walked to his door and knocked,Yolanda, his wife, answered the door and I explained to her that I was a huge fan of Ali’s and it would be a great honuor to be able to meet him.“She told me that Muhammad was unavailable at the moment and to call back in an hour’s time, and that he would be delighted to meet one of his Irish fans as he is proud of his Irish heritage.“An hour later I called back and was welcomed in to their home and Muhammad was sitting on his chair I introduced myself and said hello, he said hello back, and we posed for a few pictures.“They all said how lucky I was as they spend very little time in that house and it was just a case of right place right time.“Muhammad Ali has fans all over the world and he is such a people person that they didn’t mind me calling by, but it was just a ballsy move that paid off for me and I got to meet a true living legend.” Legend!‘IT WAS A DREAM COME TRUE TO MEET MUHAMMAD ALI’ – SAYS DONEGAL MAN was last modified: January 20th, 2014 by John2Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:GreencastleMuhammad AliTONY KELLYlast_img read more

First Mortgage Debt on the Rise but HELOC Balances Subside

first_imgFirst Mortgage Debt on the Rise, but HELOC Balances Subside Share in Daily Dose, Data, Headlines, News, Origination New debt created by first-time homebuyers transitioning into homeownership and existing homeowners that are upgrading to larger homes growing a rapid pace, meanwhile, home equity loan balances have cooled off thanks to borrowers paying off debts.Equifax’s National Consumer Credit Trends Report for February 2016 found that the total balance of outstanding first mortgages in January rose 2.1 percent year-over-year to more than $8.3 trillion.”Home purchase activity accelerated in 2016 as economic conditions boosted consumer confidence,” said Amy Crews Cutts, Chief Economist at Equifax. “When first-time homebuyers move into homeownership or existing homeowners upgrade to a larger, more expensive home, new debt is created. This trend is finally dominating the accelerated amortization from borrowers paying a little extra each month or paying their mortgages in full, and foreclosure activity is also greatly diminished.”On the other hand, home equity lines of credit (HELOC) debt seemed to decrease from last January. The report showed that HELOC debts decreased 3.7 percent from $514.2 billion to $495 billion from January 2015 to January 2016. In addition, home equity installments loan balances fell 5.1 percent from $138.5 billion to $131.4 billion over the same time period.”With many HELOCs hitting their recast into amortization we are seeing increased payoffs, reducing the debt and numbers of HELOCs outstanding. About 20 to 25 percent of HELOCs active a year prior to their recast anniversary will payoff and close within the year after date. Originations of new loans are not keeping pace with the payoffs.”Existing first mortgage numbers rose 0.4 percent year-over-year in January to reach 50.1 million, while at the same time, HELOCs and home equity installment loans declined 3.2 percent and 2.5 percent, respectively.The Equifax report showed that the total number of new first mortgages originated January 2015 to November 2015 was 7.60 million, up 43.2 percent from a year ago. The total balance of first mortgages originated in that same time was $1.79 trillion, an increase of 56.7 percent. The severe delinquency rate among first mortgages, or balances that are 90 days past due or in foreclosure, was 1.75 percent in February 2016, down from 2.50 percent one year ago.The total number of new home equity installment loans originated January 2015 to November 2015 was 760,900, up 32.4 percent year-over-year, while the total balance of new loans was $25.1 billion, an increase of 25.2 percent. The severe delinquency rate for these loans is 1.63 percent, down from 2.12 percent same time a year ago.From January 2015 to November 2015, the total balance of new HELOC loans was $135.3 billion, up 21.6 percent from same time a year ago. In that same time, the total number of new loans originated was more than 1.29 million, an increase of 13.1 percent, Equifax said. The severe delinquency rate for these loans is 1.34 percent, down from 1.49 percent same time a year ago.Click here to view the full report.last_img read more