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Homeowners Brace for Cash Crunch as HELOCs Come Due

During the height of the housing bubble, home equity lines of credit (HELOCs) were an extremely popular way for homeowners to tap into their home equity to fund a variety of purchases, such as home improvements and education expenses. In fact, $265 billion in outstanding HELOCs were originated between 2005 and 2008. (Source: Experian, May 2015) Unfortunately, many homeowners who took out HELOCs during this time period now find themselves bracing for a cash crunch as these loans enter their repayment phases.

What is a HELOC?

A HELOC is a revolving line of credit based on the amount of equity in your home. With a HELOC, you can borrow what you need (up to the maximum allowed) when you need it (subject to any time limit on the borrowing period--typically 10 years). With a HELOC, you can use the line of credit while making interest-only payments.

What is the "repayment phase"?

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Students Invited to Free Reading and Writing Camp at Dog Ears Bookstore

Students Invited to Free Reading and Writing Camp at Dog Ears Bookstore

 

Applications are still being accepted for a Summer Reading & Writing Camp for students ages 12 and 13 to be held Aug. 3-7 at Dog Ears Bookstore, located at 688 Abbott Road. 

This free camp, sponsored by Erie County Youth Services, will run from 9 a.m. to 3 p.m. and will feature reading and writing activities, games and much more, all of which align with Common Core and New York State Standards in education. Each session is limited to 20 participants on a first-come, first-served basis.

Drums Along the Waterfront Tour of Champions Set for Aug. 2

Drums Along the Waterfront Tour of Champions Set for Aug. 2

 

Eight of the top drum corps in the world will visit Western New York on Sunday, Aug. 2, for the annual Drums Along the Waterfront Tour of Champions taking place at 7 p.m. in Ralph Wilson Stadium in Orchard Park. Scheduled to compete at the event are the Blue Devils, Carolina Crown, Phantom Regiment, Blue Stars, Santa Clara Vanguard, Cavaliers, Bluecoats and Cadets!

“After a one-year hiatus from ‘The Ralph’ due to stadium renovations, we are pleased to be back,” said Jack Gaylord Jr., organizer of the musical event. “The stadium has a rich history, not only in name but for hosting drum corps events, as three Drum Corps International World Championships and four Drums Along the Waterfront events have taken place at the Orchard Park facility.

Explore Buffalo Plans ‘Wright by the River’ Special Event

Explore Buffalo Plans ‘Wright by the River’ Special Event

 

“Wright by the River,” a unique special event offered by Explore Buffalo, will take place from 7 to 9 p.m. Friday, Aug. 7, at the Frank Lloyd Wright-designed Fontana Boathouse, 1 Rotary Row, Buffalo.

Participants will enjoy a midsummer evening at the Fontana Boathouse with live music, wine, beer and hors d’oeuvres as the sun sets on Lake Erie and the Niagara River. The Fontana Boathouse is one of the best places in Western New York to watch the sunset. Throughout the evening, the Buffalo Maritime Center will offer short cruises on the Black Rock Channel aboard the Electra. Also open to tour will be the historic West Side Rowing Club, adjacent to the Fontana Boathouse.

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If You Get an IRS Notice, Here’s What to Do

 

Each year the IRS mails millions of notices and letters to taxpayers. If you receive a notice from the IRS, here is what you should do:

Pioneering ARTY STEM workshop concludes with robot parade

Pioneering ARTY STEM workshop concludes with robot parade

Pioneering ARTY workshop concludes with robot parade - Summer program attracts underrepresented groups to STEM fields through a partnership between University at Buffalo, Canisius College and AT&T

An innovative week-long robotics workshop for middle school students ages 9-12 culminated with a robot parade on Friday, July 17, at in the Canisius College Science Hall.  The 2015 Art, Robotics and Technology for Youth (ARTY) Summer Workshop is a collaboration among the University at Buffalo’s Techne Institute, Canisius College and AT&T.

New York State Sen. Timothy M. Kennedy addressed the students as part of the workshop’s finale and presented each of the participants with congratulatory certificates.

NOCO Express stores raise $20,000 for United Way

NOCO Express stores raise $20,000 for United Way
NOCO Express stores, its customers, and employees raised $20,000 to support the United Way of Buffalo & Erie County and several other United Ways in the region. Throughout the month of June, donations of $1, $3 or $5 were collected at all 36 NOCO Express stores through a paper t-shirt pin up campaign.  

 

“In only two years of conducting a month-long in-store campaign, our customers have generously donated more than $32,000 to support United Way programs and organizations right here in the Western New York community,” Jim DeFilippis, vice president and general manager, NOCO Express.

 

"NOCO is a wonderful community partner," said Michael Weiner, United Way president and CEO. "We are grateful not only to the company for their commitment to our community, but to their customers who once again stepped up and made a difference this year through their generosity."