There has been an increase in the number of serious delinquencies on loans that the Federal Housing Agency has insured. In August, 8.4 percent of the loans in their portfolio were considered delinquent with three or more missed payments. In November, this rose to 9.3 percent. News from an independent audit in November has fueled worries that the FHA may need a bailout. The audit found that losses from mortgage defaults had left the agency’s reserve fund with only 0.24%, which is $2.6 billion during the 2011 fiscal year. This number is based on the net worth of the reserve fund compared to the value of the loans that the FHA has insured. Congress mandates that this level remain at 2%. In 2006, the FHA reserve fund had 7%. 

If the FHA does need a bailout, taxpayers would be the ones bailing them out. Joseph Gyourko, author of the report ‘Is FHA the Next Big Housing Bailout?’, said, “It’s highly likely that the FHA will need a taxpayer bailout over the next three to five years.” He also asserts that it would take at least $50 billion to bailout the FHA, if the housing market remains the way it is. At the very least, the agency would need at least a $20 billion bailout to meet the 2% level set by Congress.

To avoid an FHA bailout, home prices would have to go up, so that the agency does not have to count on their reserves. If home prices continue to drop, the FHA may have to seek a bailout from the Treasury Department. There would also need to be fewer delinquencies on home loans.

If you are like most people you have dozens of apps on your iPhone or Android phone. You may not use many or even realize that they exist. If one of your resolutions is to be more organized, you can start with your phone apps.

Figure Out What You Use

You have two options here. Either you can delete all your apps and start over, or sort through them and delete the ones you don’t use. If you have a lot of apps, it may be easier to start from scratch. Either way, make a list of the apps you need with your phone and install only those.

Don’t keep two apps for the same purpose. If you have more than one music player on your phone, decide which one you like best and use that one. The same goes for other apps; only keep the ones you use. If there is something you like about both apps, try to find another one that combines the features.

In a down economy, one of the best ways to ensure your success is to create loyalty with your customers. The way to do this is to provide better customer service than your competitors. Provide the best customer service you can, and you will have a successful business.

Don’t Assume

Find out what your customers want. Don’t assume you know what they need. Talk to potential customers and find out what their expectations are. What are they looking for in your type of business? You can start with a small product and ask questions of customers. You can take a survey, or send out emails to get opinions. You may think no one will respond, but customers will give their opinions if they believe they will be heard.

Train Your Employees

Regardless of whether you have two employees or two-hundred, they need to be trained on customer service. You may think they should know how to provide good customer service, but you need to train them to your expectations. You should have standards in place that everyone is expected to follow. These should be concrete and easy to track, so you know which areas are on target and which ones can be improved.

Google Voice is gaining a lot of attention as the new phone choice that is accessible to anyone with a computer. For those not aware, Google Voice is a service that provides a free phone number and voicemail. Why would you want it if you already have a landline or cell phone?

Use It in a Job Search

You may want to use a separate phone number on your resume when looking for a job. While many people use their personal phone number, it can be more professional to use a separate one. People often have funny or unique greetings for their voice mail that may not be appropriate for business use.

You may also prefer to keep your personal number private and not feel comfortable putting it on a resume or application that will be viewed by several people. Whatever your reason, if you are job hunting, having a separate phone number may be beneficial.

Give Yourself Reminders

If you want to remind yourself about something in the future, but can’t write it down at the time, you can call your number and leave a message. Google Voice also transcribes it to text, which can be useful.