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Some commuters want to bring back the Bay Area's casual carpool. Here's when

Some commuters want to bring back the Bay Area's casual carpool. Here's when

As BART confronts a financial crisis and more traffic clogs Bay Area freeways, some commuters are eyeing a solution from the past.
They want to resurrect casual carpool, the grassroots system in which drivers pick up passengers at designated spots in the East Bay, and carry them across the Bay Bridge to the Financial District.
Launched amid transit meltdowns in the 1970s, this arrangement died with the pandemic. But enthusiasts never stopped trying to revive it, and now they see an opening. Workers are returning to offices in droves and, in September, California will stop allowing single-driver electric cars to use fast-moving diamond lanes on highways. Public transportation agencies, including BART and transbay bus lines, are facing deficits that could eviscerate service if taxpayers don't provide a bailout.
In such an environment more people would be forced to drive, and many would have a strong incentive to pile in cars with strangers. Carpools provide benefits for drivers, who get discount bridge tolls and diamond lane access, and passengers, who might chip in a dollar for a swift, comfortable ride.
Proponents are mulling a date to restart the massive, ad-hoc network. They now hope to time it with the beginning of the school year, in August or September.
'This effort to bring casual carpool back has a lot of traction,' said Camille Bermudez, an East Bay resident who carpooled to work for years. She first tried the system as a teenager, with her dad driving. Following an indulgent weekday breakfast at a cafe in Rockridge, the pair set off for the high school Bermudez attended in San Francisco's Sunset District. As they rolled beneath the State Route 24 freeway overpass at Claremont Avenue and Hudson Street, Bermudez' dad slowed for a group of people waiting at the curb.
'He said, 'We're going to pick someone up,'' Bermudez recalled. Fascinated, she had watched her father park and motion for someone to hop in the car. It didn't take long to grasp the concept.
'There's this level of trust with casual carpool,' she said, characterizing the system as a form of common-sense transport that's built on collective action. 'You're getting in the car with a neighbor, a fellow worker, a fellow commuter.'
Re-invigorating that intricate network of pick-ups and drop-offs won't be easy after five years of dormancy. Maps of the old sites still exist online, but people are no longer accustomed to using them. Abandoned cars have parked in former carpool loading zones; signs marking the curbs have faded.
Die-hard carpoolers, such as Bermudez, remain unfazed. She and others circulated surveys over the last several months to rally interest in the commuting option. Before the official re-launch, they might hold a series of parties at pick-up spots to gather momentum. Organizers are spreading the word over social media, with casual carpool pages on Facebook and Instagram.
Kuan Butts, an Oakland resident who routinely carpooled to the city before COVID shutdowns in 2020, said he's seen hints of a resurgence. Occasionally, drivers pull up to his transbay bus stop in the Grand Lake neighborhood, offering rides to the rush hour throngs. Such scenes recall the origin story of casual carpool in the 1970s, with one difference: These days, Butts said, it's hard to coax two passengers — the required number for the diamond lane — into a car with a driver they don't know.
'Maybe there's a resocialization element,' Butts surmised. He's confident that people will come around. Once a person tries carpooling, he said, 'they realize it's totally safe. That it's the greatest thing in the world.'
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9 myths about home equity: What homeowners often get wrong
9 myths about home equity: What homeowners often get wrong

Yahoo

time5 hours ago

  • Yahoo

9 myths about home equity: What homeowners often get wrong

Home equity sounds like a pretty straightforward concept: it's the portion of your home you truly own, free and clear of debt. However, when it comes to understanding concepts like how home equity grows, the differences between home equity products, or how much equity you can borrow against – people can get a lot of things wrong. As a Certified HELOC Specialist, I often field many questions from confused homeowners on everything about home equity, including what it is, how to tap into your home's value, how that may impact your primary mortgage and more. A quick scroll through social media or online forums reveals a lot of misinformation out there. To help cut through the noise, I'm using this Bankrate column to dispel nine myths and misconceptions about home equity and home equity borrowing – revealing the truth that every homeowner needs to know. Just because the value of your home is $500,000 doesn't mean you have $500,000 in equity. Home equity is based on your home's worth, but it's not the same thing. To figure out your home equity, you have to subtract your mortgage balance from the appraised value of your home. So, if your home is valued at $500,000, but you still owe $350,000, your equity stake is $150,000. Understanding this distinction is important, especially if you're considering borrowing against your equity or selling your home. 2. Myth: Home equity always grows over time Since the COVID pandemic, home prices and homeowner equity levels have soared to record highs. Some people assume that both will keep climbing — but as anyone who owned a home in 2008 can tell you, that's not always the case. Residential real estate values declined drastically during the Great Recession. In fact, millions of homeowners found themselves in negative equity: owing more on their mortgages than their homes were worth. Markets fluctuate and if home prices drop, so can your equity. Take what we're seeing in 2025. The median home prices hit an all-time high of $422,800 in May 2025, and the average mortgage-holding homeowner has $302,000 in accumulated home equity as of the first quarter of this year, according to Cotality. But the pace of home price growth is slowing. And as home price appreciation slows, so do equity stakes. In fact, that $302,000 represents a loss of more than $4,000 in equity over the past year. Not always. True, when you take out a mortgage, your home equity builds slowly at first as the early payments mostly cover your loan's interest. As time passes, a greater portion of the payment goes to principal, speeding up equity growth. This process is known as mortgage amortization. But not all paths to home equity growth involve the long game of paying down your mortgage. You can gain immediate equity by making a larger down payment or paying closing costs upfront instead of rolling them into the mortgage when you buy a home. Additionally, making extra payments towards your loan's principal can help you increase your housing stake faster. Home renovations can also boost your property value and, in turn, your equity. But remember, not all renovations offer the same return on investment (ROI). Some improvements, like kitchen or bathroom upgrades, tend to have a higher ROI than others. I've often heard the terms HELOCs (home equity lines of credit) and home equity loans used interchangeably when describing home equity borrowing. Yes, both are financing products that allow you to borrow against your home's value. Both also use your home as collateral, meaning you could lose it if you don't make payments on either of them. That's where most of the similarities end. A home equity loan gives you a lump sum at a fixed rate, keeping your payments stable for the life of the loan. In contrast, a HELOC is a revolving line of credit with a variable rate, meaning your monthly payments may fluctuate based on the amount you borrow and market conditions. The other differences? With a home equity loan, the interest is applied to the entire loan amount, but with a HELOC, interest is only charged on withdrawn funds. Mixing up the two and not fully understanding the differences can lead to some expensive surprises down the road. It's true that home equity loans and HELOCs often come with lower rates than personal loans or credit cards. But we must not confuse 'lower' with 'low.' In today's higher interest rate environment, they're not always the deal they once were. For example, as of July 2, HELOC rates were averaging just over 8.25 percent, and some ran as high as 12.50 percent, according to Bankrate's national survey of lenders. Home equity loan rates were similar, running as high as 10.47 percent. The exact rate you are offered depends on several factors, including the lender, the loan type, your credit score and even where you live. Some advertised rates also include discounts if you sign up for automatic payments or have a checking account with that lender. No matter what some TikTok influencers are saying, a HELOC is NOT like refinancing your mortgage. HELOCs and home equity loans are considered second mortgages, which means they're completely separate debt from your primary mortgage. Everything connected with that stays untouched, including its interest rate. The confusion may arise from another equity-tapping vehicle, the cash-out refinance. This refi involves replacing your original mortgage with a bigger one; you take the difference — which is based on your equity stake — as a cash payout. That means you start fresh with a new mortgage, rate and terms. Even if they miss HELOC or home equity loan payments, some homeowners assume that as long as they're paying their primary mortgage, their home is safe from foreclosure. They couldn't be more wrong. While HELOCs and home equity loans are second mortgages, they are still secured by your home. Regardless of whether your first mortgage is in good standing, the home equity lender has the right to start foreclosure proceedings if you are in default, which is 90 to 120 days of missed payments. In the event of a foreclosure, your primary lender does get paid first. But that doesn't stop the second lender from trying to recoup its share. Both lenders have a legal claim to your home, and if you're in default on the second mortgage, it can trigger a foreclosure that puts your home at risk. Just because you have a large percentage of equity in your home, doesn't mean you can borrow all of it. Most lenders won't let you go above 80 to 85 percent of your home's value when borrowing, also referred to as the loan-to-value (LTV) ratio. Put another way: You have to leave 15 to 20 percent of your ownership stake untouched. Limiting the amount you can borrow provides a cushion that protects both you and the lender if your home falls in value. How much equity you can borrow also depends on your mortgage balance. When computing that LTV, home equity lenders look at both the amount you want to borrow and your current mortgage debt. So if the LTV limit is 80 percent, and your mortgage balance makes up 50 percent of your home's value, you'll only be able to borrow 30 percent of the value, regardless of how much equity you have. That said, there are some lenders that allow you to borrow 90, 95 or even 100 percent of the equity in your home. But there's usually a trade-off: you will likely be charged a higher rate. You also have to meet certain requirements, like having a very strong credit score, a strong loan-to-value ratio, or borrowing within a specific loan amount range. The bottom line: While hundreds of thousands of dollars in equity might look like a big number on paper, it's not real cash in your pocket. Nor will all of it ever be. Even if you own your home entirely, usually you'll be required to leave around one-fifth of your equity untapped. A reverse mortgage is a loan that allows you to borrow against your home equity. But instead of you having to pay the bank, the bank pays you (hence, the name). Whether taken in installments or as a lump sum, the funds are tax-free (though not interest-free). It is true that you must be at least 62 years old to qualify for a Home Equity Conversion Mortgage (HECM), the most popular type of reverse mortgage, which is backed by the Federal Housing Administration. However, a HECM isn't the only option. Proprietary reverse mortgages are available for homeowners 55 and older. Offered by private lenders, these mortgages are not insured by the government. They are sometimes referred to as jumbo reverse mortgages because they allow homeowners to access larger amounts than the HECM limit, which is $1,209,750 in 2025. Designed for higher-valued homes, loans are typically available in amounts up to $4 million, though you have to meet specific home equity, income and credit score requirements. A home and its equity is the biggest asset many people will ever own. So it's important to understand how your equity works and how you can – and can't — use it. With all the confusing jargon, hard-sell ads, and questionable advice on social media, it's easy to get steered in the wrong direction. Always consult a professional financial advisor or lender before making any moves: They'll help you distinguish home equity fact from fiction. 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Uncovered Long-Hidden U.S. Resource Reserve In Resurfaced Presentation from Former White House Advisor That Could Quietly Reshape Trump's Economic Playbook
Uncovered Long-Hidden U.S. Resource Reserve In Resurfaced Presentation from Former White House Advisor That Could Quietly Reshape Trump's Economic Playbook

Business Upturn

time6 hours ago

  • Business Upturn

Uncovered Long-Hidden U.S. Resource Reserve In Resurfaced Presentation from Former White House Advisor That Could Quietly Reshape Trump's Economic Playbook

Washington, D.C., July 04, 2025 (GLOBE NEWSWIRE) — As political debate intensifies over the cost and scale of President Trump's sweeping legislative proposal—referred to by insiders as the 'Big Beautiful Bill'—a released presentation by Jim Rickards suggests the U.S. government may already control the means to fund the majority of programs just like this internally. Rickards, a veteran advisor to the CIA and Treasury Department, points to a massive store of untapped wealth resting beneath federally owned land—assets that have remained restricted for decades, but may now be on the verge of being unlocked. 'This land… it's held on deposit across all 50 states,' Rickards explains. '$516 billion in the Salton Sea area of California… $3.1 trillion in Nome, Alaska. And $7.35 trillion in Midland, Texas…' The Untapped Engine of U.S. Growth According to the presentation, these lands contain key minerals and raw materials critical to the development of next-generation technology, infrastructure, and energy systems. And while their value has steadily grown, access has remained sealed off—until now. 'The nature of this 'trust' – as I call it – is such that politicians haven't been able to raid it… which has allowed it to grow untouched… for decades' . 'It's not some kind of government program like those COVID relief checks,' Rickards says. 'But it is a chance for the average American to become richer than they ever imagined'. Could This Be the Missing Piece in Trump's Fiscal Agenda? Although President Trump has not publicly linked these federal lands to his economic renewal efforts, Rickards believes they align perfectly with the spirit of the administration's goals: reduce dependence on foreign nations, revive American industry, and rebuild with domestic resources. 'Trump is re-opening our mineral-rich Federal Lands. And fast-tracking companies that could recover trillions of dollars' worth of resources, right here in America' . 'We have everything we need right under our feet… and now we may finally have the clearance to access it' . A Century-Old Resource, a 21st Century Solution Many of the resource zones outlined in the presentation have been trapped in bureaucratic limbo for decades: 'Resolution Copper Mine… sitting for 29 years' 'Pebble Mine… mothballed since 1990 'Thacker Pass Lithium Mine… stalled since 1978' Rickards contends that unlocking even a fraction of these projects could ease pressure on taxpayers and deliver the material resources needed for infrastructure, defense, and energy independence. 'We know exactly where these minerals are. We know they're worth trillions of dollars. And now—for the first time in half a century—we can go get them' . 'The Asset Is Already Ours' Unlike stimulus checks or bond-funded bailouts, Rickards emphasizes that this is not about redistribution—but reclamation. 'It's not earmarked for any specific individual,' he notes. 'I'm just trying to use terminology that will make the most sense to viewers'. 'This is different. Very different'. With major fiscal battles looming in Congress, the presentation offers a new way of thinking about national wealth—not as something to borrow, but something to unearth. About Jim Rickards Jim Rickards is a former advisor to the White House, CIA, Pentagon, and U.S. Treasury. He helped craft the Petrodollar Accord, has counseled top-level officials through multiple global financial threats, and is the New York Times bestselling author of seven books. He currently provides strategic insight on economic preparedness and national resilience. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash

Stimulus Payments 2025: What Americans Need to Know
Stimulus Payments 2025: What Americans Need to Know

Time Business News

time8 hours ago

  • Time Business News

Stimulus Payments 2025: What Americans Need to Know

As the question of inflationary pressure and economic worry keeps unfolding in everyday life in the United States, numerous Americans are keeping a close eye out to find Stimulus Payments 2025 news. You might be a working parent, unemployed worker, or a senior citizen, but you must learn more about the status of the stimulus payments 2025, as this allows you to manage your finances accordingly. The article provides a full breakdown of what you can expect, who may be able to receive this payment, and how such payments can affect your financial stability during the year. Economic impact payments or stimulus payments are checks or direct deposits issued by the government to stimulate spending by consumers and stabilize the economy in a downturn. The U.S. government has utilized them during financial crises; the most recent one was during the COVID-19 pandemic. Also Read More About: Stimulus Payments 2025: What You Need to Know Now The discussion of the Stimulus Payments 2025 accumulated its dynamic because of several long-term economic processes: Persistent inflation affecting basic goods and services affecting basic goods and services Job market fluctuations , especially in the retail and tech sectors , especially in the retail and tech sectors Federal Reserve interest rate changes are slowing down borrowing and spending are slowing down borrowing and spending A potential recession warning from economists and financial analysts Also Read About: How Fed and ECB Shifts Are Reshaping Emerging Markets and Currencies in 2025 Considering these, most Americans are anticipating new stimulus bills to lessen the burden. Until this time, no federal legislation concerning the 2025 stimulus package has been settled on. Nevertheless, a number of proposals have been pushed in Congress, particularly before the results of the election in 2024. Depending on the political leadership and economic situation, there is still a probability of a stimulus check in 2025. Also Read More About: Stimulus Payments 2025: What You Need to Know Now Federal Stimulus : New stimulus deals can be given the nod when the economy nose-dives or when unemployment levels rise. : New stimulus deals can be given the nod when the economy nose-dives or when unemployment levels rise. State-Level Stimulus : Other states are also repeating their stimulus-style rebates to their citizens with budgetary surpluses. : Other states are also repeating their stimulus-style rebates to their citizens with budgetary surpluses. Targeted Relief: Certain categories of people may enjoy targeted relief, including low-income families, veterans, and Social Security recipients. Also Read About: How to Invest in Crypto for Beginners In 2025, when stimulus checks may be reintroduced, the eligibility may be similar to the previous rounds but may have new requirements. Presumably, those are: Those with an income below 75,000 dollars and the married couples filing jointly with an income of less than 150,000 dollars might get the full benefits. Also Read About: Why IUL Is a Bad Investment? The eligibility may be based on your 2023 or 2024 federal tax statement, mainly adjusted gross income (AGI). Also Read More About: Stimulus Payments 2025: What You Need to Know Now Others automatically qualified include retirees or disabled people who draw their benefits under SSI, SSDI, or VA compensation. Families who have dependents may get Child Tax Credits or other funds. Proactiveness can help you not miss any relief payment: You need to make sure that you file your tax return early, even when you do not owe taxes. To see whether you will qualify, the IRS utilizes your return. Also Read About How to Save Money as a College Student Documents with the proper bank information can help you pay faster by keeping the correct data with the IRS. Check your state Department of Revenue website to see whether there are any refunds, credits, or stimulus programs. Some states have gone ahead to do their thing because the federal government is still torn. The next states have announced or prolonged relief programs in 2025: California : extension of Tax Refund to the middle class : extension of Tax Refund to the middle class New Mexico : Rebates in energy assistance : Rebates in energy assistance Colorado : Refunds to taxpayers on the basis of earning levels Income In Colorado, taxpayers are given tax refunds depending on their wage categories. : Refunds to taxpayers on the basis of earning levels Income In Colorado, taxpayers are given tax refunds depending on their wage categories. New York: Relief on property tax to low-income homeowners Also Read About: Turn Hobbies into a Profitable Side Hustle Lumolog These programs are not connected with federal stimulus checks, but still have the same goal, that is, to assist struggling residents. Is there a fourth federal stimulus check in 2025? As of now, there is no confirmed fourth federal stimulus check. Discussions are ongoing and depend on the economic environment. How will I know if I qualify for a 2025 stimulus payment? Eligibility would likely be based on income, tax filings, and specific criteria. Watch for official IRS announcements. What if I didn't receive the previous stimulus payments? You can claim missed payments using the IRS Recovery Rebate Credit on your tax return. Are stimulus payments taxable? No, stimulus payments are not considered taxable income and will not affect your refund. Although no one knows what Stimulus Payments 2025 will engender, Americans are encouraged to be financially competent and alert. Financial relief could still be financial relief this year, whether at the federal level or at the state-based program level. To prevent losing, maintain your records to date, pay taxes early enough, and watch credible government outlets to get news and updates. Also Read More About: Stimulus Payments 2025: What You Need to Know Now Stay connected for updates on Stimulus Payments 2025 and take control of your financial future. TIME BUSINESS NEWS

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