Info on Harp was updated. Here is the latest. In a few hours we should be hearing from Obama on his ideas to help out us poor credit risk homeowners.
Homeowners can determine if they have a Fannie Mae or Freddie Mac loan by going to: http://www.FannieMae.com/loanlookup/
HARP is the only refinance program that enables borrowers who owe more than their home is worth to take advantage of low interest rates and other refinancing benefits. The program is offered to borrowers whose loans were sold to Fannie Mae and Freddie Mac on or before May 31, 2009, with current loan-to-value (LTV) ratios above 80 percent.
New program enhancements change several aspects of HARP including:
• Eliminating certain risk-based fees for borrowers who refinance into shorter-term mortgages, and lowering fees for other borrowers.
• Removing the current 125 percent LTV ceiling for fixed-rate mortgages backed by Fannie Mae and Freddie Mac.
• Waiving certain representations and warranties for lenders that make loans backed by Fannie Mae and Freddie Mac.
• Eliminating a new property appraisal if there is a reliable AVM (automated valuation model) estimate provided by Fannie Mae or Freddie Mac.
• Extending the end date for HARP until Dec. 31, 2013, for loans originally sold on or before May 31, 2009.
Mortgage lenders should have more information about the HARP program changes by Nov. 15, 2011. Since participation isn’t mandatory, implementation schedules will vary.
Monday, October 24, 2011
Palm Coast Part of New “$100 Down” HUD Program to Sell Foreclosures!
HUD has approved a program aimed at putting foreclosed homes back into the hands of owner-occupant buyers.
Florida is one of several select states, from now into October of next year, where buyers need a down payment of only $100 to purchase a HUD-owned REO home.
The $100 down payment incentive program has been approved for two of HUD’s four national regions – the regions managed by the Denver Homeownership Center and the Atlanta Homeownership Center. HUD homes in the states listed, as well as the Caribbean are currently eligible for the program.
Atlanta Homeownership Center’s Jurisdiction:
• Alabama
• Florida
• Georgia
• Kentucky
• Illinois
• Indiana
• Mississippi
• North Carolina
• South Carolina
• Tennessee
• Caribbean
HUD’s $100 down payment incentive program can also be applied to an FHA 203k loan, which can be used to fund repairs and renovations on the home. The 203k program allows buyers to finance both the mortgage and additional money for rehabilitation needs with a single government-insured loan.
The buyer must be an owner-occupant, utilizing financing insured by the Federal Housing Administration (FHA). Standard FHA underwriting guidelines apply, and the sale must be for the full amount of the current list price.
Homeowners can determine if they have a Fannie Mae or Freddie Mac loan by going to: http://www.FannieMae.com/loanlookup/
Florida is one of several select states, from now into October of next year, where buyers need a down payment of only $100 to purchase a HUD-owned REO home.
The $100 down payment incentive program has been approved for two of HUD’s four national regions – the regions managed by the Denver Homeownership Center and the Atlanta Homeownership Center. HUD homes in the states listed, as well as the Caribbean are currently eligible for the program.
Atlanta Homeownership Center’s Jurisdiction:
• Alabama
• Florida
• Georgia
• Kentucky
• Illinois
• Indiana
• Mississippi
• North Carolina
• South Carolina
• Tennessee
• Caribbean
HUD’s $100 down payment incentive program can also be applied to an FHA 203k loan, which can be used to fund repairs and renovations on the home. The 203k program allows buyers to finance both the mortgage and additional money for rehabilitation needs with a single government-insured loan.
The buyer must be an owner-occupant, utilizing financing insured by the Federal Housing Administration (FHA). Standard FHA underwriting guidelines apply, and the sale must be for the full amount of the current list price.
Homeowners can determine if they have a Fannie Mae or Freddie Mac loan by going to: http://www.FannieMae.com/loanlookup/
Thursday, June 23, 2011
Buying A Home Now Is A Real Crap Shoot
Here is some follow up information about the Shadow Inventory of homes why it is impossible to predict the trend of house prices.
I talked about the Banks and the Politicians messing up the marketplace. I should have included the courts.
Courts may reshape mortgage industry
NEW YORK – June 17, 2011 – A New York appellate court last week ruled that a Reston-based company that electronically tracks and transfers millions of mortgages did not have the right to foreclosure on a property or assign a mortgage it doesn’t actually own. The decision came only days after an appeals court in California took a different view, ruling that the firm indeed has the power to act on behalf of lenders.
The two cases, like dozens of others already decided or playing out in courtrooms across the country, highlight a protracted legal wrestling match that could determine the validity of foreclosures already in the pipeline and shape the mortgage market for years to come.
The cases also underscore the uncertainty that continues to surround Mortgage Electronic Registration Systems (MERS), which has allowed the financial industry to transfer and reassign millions of mortgages quickly and cheaply since the 1990s. The company also has acted as a proxy for banks in many foreclosure proceedings.
The MERS business model has increasingly come under fire since revelations last fall of widespread problems in foreclosure filings around the country – including forged documents and lingering questions about who actually owns the homes being foreclosed. Embattled borrowers and their attorneys continue to challenge the legitimacy of MERS, which doesn’t actually own any of the 65 million loans in its vast registry.
Those challenges have had limited success so far. But as cases are reviewed on appeal, the rulings could call into question countless foreclosures that have taken place since the housing bust. Perhaps more significant, if judges ultimately deem the MERS model invalid, it could mean massive lawsuits against banks that improperly bundled and sold mortgages to investors and could hinder the private securitization market, making it tougher for average Americans to get home loans in the long run.
“We know that MERS is a problem; we don’t know exactly what that’s going to mean,” said Adam Levitin, a Georgetown University law professor. “We still don’t have really definitive law on any of the issues involved. It’s going to take awhile before we really know the answers.”
MERS, which was created by the mortgage industry in the 1990s and became a key component in the securitization process during the housing boom, has had a range of legal wins and losses.
“The law must not yield to expediency and the convenience of lending institutions,” Justice John M. Leventhal wrote in the New York appeals court ruling last week, adding, “Proper procedures must be followed to ensure the reliability of the chain of ownership.”
Earlier this year, a Michigan court of appeals ruled against MERS, saying state law requires a foreclosing party to have a stake in the loan itself, which the firm did not. Those decisions came after other blows to MERS from courts in Maine, Kansas and California. In March, the company asked banks and servicers to stop foreclosing in the MERS name.
These are “extra precautionary steps that we don’t think are legally necessary, but may reduce some of the administrative headaches,” Tom Deutsch, executive director of the American Securitization Forum, said of the decision to end MERS foreclosures. Still, he said, “ I just don’t think it’s possible for the court system to roll back” the current system. “If you don’t allow electronic transfers of mortgages, it takes us back to the stone ages.”
At the same time, the company has won numerous victories in scores of other courtrooms, from Hawaii to Virginia – a tally that it publishes in quarterly and monthly publications. In Minnesota, legislators passed a law stating that MERS explicitly has the right to undertake foreclosures. And the company has spent more than $1 million in lobbying in recent years to garner support among lawmakers on Capitol Hill.
“The court decisions have overwhelmingly leaned in favor of MERS and validating MERS’s business model,” said Janis Smith, vice president of corporate communications for MERSCORP, the firm’s parent company. “Overall, the record is pretty clearly established.”
The company is fighting a multi-front war. It recently received a subpoena from the Delaware attorney general seeking information about its practices. New York’s attorney general also has undertaken an investigation into all aspects of the mortgage lending and securitization business, an examination that likely will involve inquiries into how mortgages were assigned and bundled.
In addition to its legal fight, MERS faces competition from Delaware-based Global Debt Registry, which plans to launch an alternative registry service later this summer.
“The more we researched it, the more it seemed there was a need for an alternative [to MERS],” said Mark Parsells, the firm’s executive chairman. “We see the need for a proper alternative that alleviates any ambiguity” related to the ownership of the underlying mortgages.
Copyright © 2011 washingtonpost.com, Brady Dennis and Renae Merle.
I talked about the Banks and the Politicians messing up the marketplace. I should have included the courts.
Courts may reshape mortgage industry
NEW YORK – June 17, 2011 – A New York appellate court last week ruled that a Reston-based company that electronically tracks and transfers millions of mortgages did not have the right to foreclosure on a property or assign a mortgage it doesn’t actually own. The decision came only days after an appeals court in California took a different view, ruling that the firm indeed has the power to act on behalf of lenders.
The two cases, like dozens of others already decided or playing out in courtrooms across the country, highlight a protracted legal wrestling match that could determine the validity of foreclosures already in the pipeline and shape the mortgage market for years to come.
The cases also underscore the uncertainty that continues to surround Mortgage Electronic Registration Systems (MERS), which has allowed the financial industry to transfer and reassign millions of mortgages quickly and cheaply since the 1990s. The company also has acted as a proxy for banks in many foreclosure proceedings.
The MERS business model has increasingly come under fire since revelations last fall of widespread problems in foreclosure filings around the country – including forged documents and lingering questions about who actually owns the homes being foreclosed. Embattled borrowers and their attorneys continue to challenge the legitimacy of MERS, which doesn’t actually own any of the 65 million loans in its vast registry.
Those challenges have had limited success so far. But as cases are reviewed on appeal, the rulings could call into question countless foreclosures that have taken place since the housing bust. Perhaps more significant, if judges ultimately deem the MERS model invalid, it could mean massive lawsuits against banks that improperly bundled and sold mortgages to investors and could hinder the private securitization market, making it tougher for average Americans to get home loans in the long run.
“We know that MERS is a problem; we don’t know exactly what that’s going to mean,” said Adam Levitin, a Georgetown University law professor. “We still don’t have really definitive law on any of the issues involved. It’s going to take awhile before we really know the answers.”
MERS, which was created by the mortgage industry in the 1990s and became a key component in the securitization process during the housing boom, has had a range of legal wins and losses.
“The law must not yield to expediency and the convenience of lending institutions,” Justice John M. Leventhal wrote in the New York appeals court ruling last week, adding, “Proper procedures must be followed to ensure the reliability of the chain of ownership.”
Earlier this year, a Michigan court of appeals ruled against MERS, saying state law requires a foreclosing party to have a stake in the loan itself, which the firm did not. Those decisions came after other blows to MERS from courts in Maine, Kansas and California. In March, the company asked banks and servicers to stop foreclosing in the MERS name.
These are “extra precautionary steps that we don’t think are legally necessary, but may reduce some of the administrative headaches,” Tom Deutsch, executive director of the American Securitization Forum, said of the decision to end MERS foreclosures. Still, he said, “ I just don’t think it’s possible for the court system to roll back” the current system. “If you don’t allow electronic transfers of mortgages, it takes us back to the stone ages.”
At the same time, the company has won numerous victories in scores of other courtrooms, from Hawaii to Virginia – a tally that it publishes in quarterly and monthly publications. In Minnesota, legislators passed a law stating that MERS explicitly has the right to undertake foreclosures. And the company has spent more than $1 million in lobbying in recent years to garner support among lawmakers on Capitol Hill.
“The court decisions have overwhelmingly leaned in favor of MERS and validating MERS’s business model,” said Janis Smith, vice president of corporate communications for MERSCORP, the firm’s parent company. “Overall, the record is pretty clearly established.”
The company is fighting a multi-front war. It recently received a subpoena from the Delaware attorney general seeking information about its practices. New York’s attorney general also has undertaken an investigation into all aspects of the mortgage lending and securitization business, an examination that likely will involve inquiries into how mortgages were assigned and bundled.
In addition to its legal fight, MERS faces competition from Delaware-based Global Debt Registry, which plans to launch an alternative registry service later this summer.
“The more we researched it, the more it seemed there was a need for an alternative [to MERS],” said Mark Parsells, the firm’s executive chairman. “We see the need for a proper alternative that alleviates any ambiguity” related to the ownership of the underlying mortgages.
Copyright © 2011 washingtonpost.com, Brady Dennis and Renae Merle.
The shadow inventory of repossessed and soon-to-be repossessed homes
This is a follow-up to my Blog about the Shadow Inventory of homes that will eventually get to market. What the politicians do and how the banks respond will determing whether we have an immediate flood onto the market with major price drops or, if they trickle in-a long,gradual drop in house prices. It all depends. This article gives the numbers. They are enormous!
06/22/2011 By: Carrie Bay
The shadow inventory of repossessed and soon-to-be repossessed homes not yet visible to the market has been trimmed, according to new data released by CoreLogic Wednesday.
The company reports that as of April 2011, the industry’s shadow supply fell to 1.7 million units, down from 1.9 million units 12 months earlier.
CoreLogic attributes the decline to fewer new delinquencies and a high level of distressed sales – a combination which has helped to reduce the deluge of foreclosure properties that threatens to upend an already fragile market beset by a supply and demand imbalance.
CoreLogic estimates current shadow inventory, also known as pending supply, by calculating the number of distressed properties not currently listed on multiple listing services that are delinquent by 90 days or more, in foreclosure, and real estate owned (REO) by lenders. Shadow inventory is typically not included in metrics of unsold inventory.
The company’s April 2011 estimate is 18 percent lower that the shadow inventory peak of 2 million units hit in January 2010.
Mark Fleming, chief economist for CoreLogic said, “The shadow inventory has declined by nearly one-fifth since it peaked in early 2010, in large part due to a reduced flow of newly delinquent loans in recent months. However, it will probably take several years for the shadow inventory to be absorbed given the long timelines in processing and completing foreclosures.”
Of the 1.7 million properties currently in the shadows, CoreLogic says 790,000 are seriously delinquent, 440,000 are in some stage of foreclosure, and 440,000 are already in REO.
The overall sales pace has slowed so even with 200,000 fewer homes in the dark, the current shadow inventory represents five months’ worth of supply, according to CoreLogic’s calculations. The larger shadow inventory from a year ago also constituted a five-month supply. At the peak in January 2010, the supply was 8.5 months.
The total shadow and visible inventory was 5.7 million units in April 2011, down from 6.2 million units a year ago, according to CoreLogic. The decline occurred in both the visible and shadow inventories. The shadow inventory accounts for 29 percent of the combined stock.
CoreLogic notes that in addition to the current shadow inventory, there are 2 million borrowers who are current on their payments but “upside down” or in negative equity by more than 50 percent, or $150,000.
The company says these loans have increased risk of entering the shadow inventory if the owners’ ability to pay is impaired while significantly underwater.
06/22/2011 By: Carrie Bay
The shadow inventory of repossessed and soon-to-be repossessed homes not yet visible to the market has been trimmed, according to new data released by CoreLogic Wednesday.
The company reports that as of April 2011, the industry’s shadow supply fell to 1.7 million units, down from 1.9 million units 12 months earlier.
CoreLogic attributes the decline to fewer new delinquencies and a high level of distressed sales – a combination which has helped to reduce the deluge of foreclosure properties that threatens to upend an already fragile market beset by a supply and demand imbalance.
CoreLogic estimates current shadow inventory, also known as pending supply, by calculating the number of distressed properties not currently listed on multiple listing services that are delinquent by 90 days or more, in foreclosure, and real estate owned (REO) by lenders. Shadow inventory is typically not included in metrics of unsold inventory.
The company’s April 2011 estimate is 18 percent lower that the shadow inventory peak of 2 million units hit in January 2010.
Mark Fleming, chief economist for CoreLogic said, “The shadow inventory has declined by nearly one-fifth since it peaked in early 2010, in large part due to a reduced flow of newly delinquent loans in recent months. However, it will probably take several years for the shadow inventory to be absorbed given the long timelines in processing and completing foreclosures.”
Of the 1.7 million properties currently in the shadows, CoreLogic says 790,000 are seriously delinquent, 440,000 are in some stage of foreclosure, and 440,000 are already in REO.
The overall sales pace has slowed so even with 200,000 fewer homes in the dark, the current shadow inventory represents five months’ worth of supply, according to CoreLogic’s calculations. The larger shadow inventory from a year ago also constituted a five-month supply. At the peak in January 2010, the supply was 8.5 months.
The total shadow and visible inventory was 5.7 million units in April 2011, down from 6.2 million units a year ago, according to CoreLogic. The decline occurred in both the visible and shadow inventories. The shadow inventory accounts for 29 percent of the combined stock.
CoreLogic notes that in addition to the current shadow inventory, there are 2 million borrowers who are current on their payments but “upside down” or in negative equity by more than 50 percent, or $150,000.
The company says these loans have increased risk of entering the shadow inventory if the owners’ ability to pay is impaired while significantly underwater.
The Russians Are Coming? No, The Russians Are Here!
I was reading eBay for Dummies this morning, getting ready to convince a power eBay seller her in Palm Coast to use my new site, PalmCoastGarageSale.com to sell his stuff. See my pilot site at http://www.creativepages.net/ted/
I was thinking about unique stuff to sell. Maybe do the site in Russian. I have a young Russian couple with two kids next door and an old Russian couple next to them on our four-house cul-de-sac (the fourth house is an old Italian couple, but they just left=snowbirds.)
We have a very large Russian community here in Palm Coast. The former Maffia ghetto on Coney Island has become the largest Russian community in the US.
We have three Russian grocery stores here and they all seem to be doing well. The Russian speaking real estate agents were doing great. There must be something I can sell that will have great appeal to this market.
Well, I haven't found the million dollar product yet, but I did find a very interesting Russian thing, a Russian massage gizmo. A Venic. Looks like fun! Take a look at the video and let me know what you think.
And if you have an idea of something our Russian Community would really like to be able to buy locally, but it isn't avaiable, please let me know. Our social security checks are not hacking it.
http://russian-bath.com/venik/
http://russian-bath.com/venik/
I was thinking about unique stuff to sell. Maybe do the site in Russian. I have a young Russian couple with two kids next door and an old Russian couple next to them on our four-house cul-de-sac (the fourth house is an old Italian couple, but they just left=snowbirds.)
We have a very large Russian community here in Palm Coast. The former Maffia ghetto on Coney Island has become the largest Russian community in the US.
We have three Russian grocery stores here and they all seem to be doing well. The Russian speaking real estate agents were doing great. There must be something I can sell that will have great appeal to this market.
Well, I haven't found the million dollar product yet, but I did find a very interesting Russian thing, a Russian massage gizmo. A Venic. Looks like fun! Take a look at the video and let me know what you think.
And if you have an idea of something our Russian Community would really like to be able to buy locally, but it isn't avaiable, please let me know. Our social security checks are not hacking it.
http://russian-bath.com/venik/
http://russian-bath.com/venik/
Wednesday, June 22, 2011
False Indicator of Improvement in Housing Market
This News Release will give the impression the housing market is improving. It is not. Read the next one, issued the same day on my market report, that shows how many mortgages are waiting to go into foreclosure (Unless the Government continues to with the marketplace)
Distress Claims Smaller Share of Dwindling Existing-Home Sales
Distressed properties accounted for just 31 percent of existing-home sales in May, the National Association of Realtors (NAR) reported Tuesday. The ratio of distressed homes - typically bank-owned or pre-foreclosure short sales - was down from 37 percent in April and 40 percent in March. A pick-up in non-distressed sales volume is typical for the spring and summer seasons, but last month, overall sales of previously owned homes dropped along with the distressed percentage to hit a six-month low.
NOW HEAR THIS...
Industry's Past Due Mortgages = 6,350,000
Data released by Lender Processing Services (LPS) Tuesday puts the number of home mortgages that are delinquent or in foreclosure at 6,350,000. The company's assessment is based on mortgage performance statistics derived from its loan-level database through the end of the month of May. In April, LPS reported that there were 6,388,000 mortgages going unpaid.
Distress Claims Smaller Share of Dwindling Existing-Home Sales
Distressed properties accounted for just 31 percent of existing-home sales in May, the National Association of Realtors (NAR) reported Tuesday. The ratio of distressed homes - typically bank-owned or pre-foreclosure short sales - was down from 37 percent in April and 40 percent in March. A pick-up in non-distressed sales volume is typical for the spring and summer seasons, but last month, overall sales of previously owned homes dropped along with the distressed percentage to hit a six-month low.
NOW HEAR THIS...
Industry's Past Due Mortgages = 6,350,000
Data released by Lender Processing Services (LPS) Tuesday puts the number of home mortgages that are delinquent or in foreclosure at 6,350,000. The company's assessment is based on mortgage performance statistics derived from its loan-level database through the end of the month of May. In April, LPS reported that there were 6,388,000 mortgages going unpaid.
You Worry Me!
I couldn't help but editing and passing along this message I received from a good friend. A Marine, he flew Phantom jets in Viet Nam and was a pilot for Continental. He is a passionate patriot and I respect and thank him for his service.
A Muslim threat is not the hot topic here in Palm Coast. I don't know if we should care more; maybe we should. But I do think it fair to encourage peace loving, American Muslims to speak out. Read this and see if you agree:
YOU WORRY ME!
By Captain John Maniscalco,
American Airlines Pilot
I've been trying to say this since
911, but you worry me. I wish you didn't. I wish when I walked down
the streets of this country that I love, that your color and culture still
blended with the beautiful human landscape we enjoy in this country. But
you don't blend in anymore. I notice you, and it worries me.
I notice you because I can't help
it anymore. People from your homelands, professing to be Muslims, have been
attacking and killing my fellow citizens and our friends for more than 20 years
now. I don't fully understand their grievances and hate, but I know that
nothing can justify the inhumanity of their attacks.
On September 11, ARAB-MUSLIMS
hijacked four jetliners in my country. They cut the throats of women in
front of children and brutally stabbed to death others. They took control of
those planes and crashed them into buildings, killing thousands of proud
fathers, loving sons, wise grandparents, elegant daughters, best friends,
favorite coaches, fearless public servants, and children's mothers.
The Palestinians celebrated, the
Iraqis were overjoyed as was most of the Arab world. So, I notice you now.
I don't want to be worried. I don't want to be consumed by the same rage,
hate and prejudice that has destroyed the soul of these terrorists But I
need your help. As a rational American, trying to protect my country and
family in an irrational and unsafe world, I must know how to tell the difference
between you, and the Arab/Muslim terrorist.
How do I differentiate
between the true Arab/Muslim Americans and the Arab/Muslim terrorists in our
communities who are attending our schools, enjoying our parks, and living in OUR
communities under the protection of OUR constitution, while they plot the next
attack that will slaughter these same good neighbors and children?
The events of September 11th changed the answer. It is not my
responsibility to determine which of you embraces our great country, with ALL of
its religions, with ALL of its different citizens, with all of its faults.
It is time for every Arab/Muslim in this country to determine it for me.
I want to know, I demand to know
and I have a right to know, whether or not you love America . Do you
pledge allegiance to its flag? Do you proudly display it in front of your
house, or on your car? Do you pray in your many daily prayers that Allah
will bless this nation; that He will protect it and let it prosper? Or do
you pray that Allah with destroy it in one of your Jihads? Are you thankful for
the freedom that this nation affords? A freedom that was paid for by the
blood of hundreds of thousands of patriots who gave their lives for this
country? Are you willing to preserve this freedom by also paying the
ultimate sacrifice? Do you love America? If this is your commitment,
then I need YOU to start letting ME know about it.
Your Muslim
leaders in this nation should be flooding the media at this time with hard facts
on your faith, and what hard actions you are taking as a community and as a
religion to protect the United States of America . Please, no more benign
overtures of regret for the death of the innocent, because I worry about who you
regard as innocent. No more benign overtures of condemnation for the unprovoked
attacks, because I worry about what is unprovoked to you. I am not
interested in any more sympathy; I am interested only in action.
What will you do for America - our great country - at this time of crisis, at
this time of war?
I want to see Arab-Muslims waving
the AMERICAN flag in the streets. I want to hear you chanting 'Allah Bless
America '. I want to see young Arab/Muslim men enlisting in the military.
I want to see a commitment of money, time and emotion to the victims of this
butchering and to this nation as a whole.
The FBI has a list
of over 400 people they want to talk to regarding the WTC attack. Many of these
people live and socialize right now in Muslim communities. You know
them.
You know where they are. Hand
them over to us, now! But I have seen little even approaching this sort of
action. Instead I have seen an already closed and secretive community
close even tighter. You have disappeared from the streets. You have
posted armed security guards at your facilities. You have threatened
lawsuits. You have screamed for protection from reprisals.
The very few Arab/Muslim representatives that HAVE appeared in the media
were defensive and equivocating. They seemed more concerned with making
sure that the United States proves who was responsible before taking
action. They seemed more concerned with protecting their fellow Muslims
from violence directed towards them in the United States and abroad than they
did with supporting our country and denouncing 'leaders' like Khadafi, Hussein,
Farrakhan, and Arafat.
If the true teachings of Islam
proclaim tolerance and peace and love for all people, then I want chapter and
verse from the Koran and statements from popular Muslim leaders to back it
up. What good is it if the teachings in the Koran are good, pure, and
true, when your 'leaders' are teaching fanatical interpretations, terrorism, and
intolerance? It matters little how good Islam SHOULD BE if huge numbers of
the world's Muslims interpret the teachings of Mohammed incorrectly and adhere
to a degenerative form of the religion. A form that has been demonstrated
to us over and over again. A form whose structure is built upon a
foundation of violence, death, and suicide. A form whose members are
recruited from the prisons around the world. A form whose members (some as
young as five years old) are seen day after day, week in and week out, year
after year, marching in the streets around the world, burning effigies of our
presidents, burning the American flag, shooting weapons into the air. A
form whose members convert from a peaceful religion, only to take up arms
against the great United States of America, the country of their birth. A
form whose rules are so twisted, that their traveling members refuse to show
their faces at airport security checkpoints, in the name of Islam.
We will NEVER allow the attacks of September 11, or any others for that
matter, to take away that which is so precious to us -our rights under the
greatest constitution in the world. I want to know where every Arab Muslim
in this country stands and I think it is my right and the right of every true
citizen of this country to demand it. A right paid for by the blood of
thousands of my brothers and sisters who died protecting the very constitution
that is protecting you and your family.
I am pleading with
you to let me know. I want you here as my brother, my neighbor, my friend,
as a fellow American. But there can be no gray areas or ambivalence regarding
your allegiance, and it is up to YOU, to show ME, where YOU stand. Until
then, "YOU WORRY ME!"
A Muslim threat is not the hot topic here in Palm Coast. I don't know if we should care more; maybe we should. But I do think it fair to encourage peace loving, American Muslims to speak out. Read this and see if you agree:
YOU WORRY ME!
By Captain John Maniscalco,
American Airlines Pilot
I've been trying to say this since
911, but you worry me. I wish you didn't. I wish when I walked down
the streets of this country that I love, that your color and culture still
blended with the beautiful human landscape we enjoy in this country. But
you don't blend in anymore. I notice you, and it worries me.
I notice you because I can't help
it anymore. People from your homelands, professing to be Muslims, have been
attacking and killing my fellow citizens and our friends for more than 20 years
now. I don't fully understand their grievances and hate, but I know that
nothing can justify the inhumanity of their attacks.
On September 11, ARAB-MUSLIMS
hijacked four jetliners in my country. They cut the throats of women in
front of children and brutally stabbed to death others. They took control of
those planes and crashed them into buildings, killing thousands of proud
fathers, loving sons, wise grandparents, elegant daughters, best friends,
favorite coaches, fearless public servants, and children's mothers.
The Palestinians celebrated, the
Iraqis were overjoyed as was most of the Arab world. So, I notice you now.
I don't want to be worried. I don't want to be consumed by the same rage,
hate and prejudice that has destroyed the soul of these terrorists But I
need your help. As a rational American, trying to protect my country and
family in an irrational and unsafe world, I must know how to tell the difference
between you, and the Arab/Muslim terrorist.
How do I differentiate
between the true Arab/Muslim Americans and the Arab/Muslim terrorists in our
communities who are attending our schools, enjoying our parks, and living in OUR
communities under the protection of OUR constitution, while they plot the next
attack that will slaughter these same good neighbors and children?
The events of September 11th changed the answer. It is not my
responsibility to determine which of you embraces our great country, with ALL of
its religions, with ALL of its different citizens, with all of its faults.
It is time for every Arab/Muslim in this country to determine it for me.
I want to know, I demand to know
and I have a right to know, whether or not you love America . Do you
pledge allegiance to its flag? Do you proudly display it in front of your
house, or on your car? Do you pray in your many daily prayers that Allah
will bless this nation; that He will protect it and let it prosper? Or do
you pray that Allah with destroy it in one of your Jihads? Are you thankful for
the freedom that this nation affords? A freedom that was paid for by the
blood of hundreds of thousands of patriots who gave their lives for this
country? Are you willing to preserve this freedom by also paying the
ultimate sacrifice? Do you love America? If this is your commitment,
then I need YOU to start letting ME know about it.
Your Muslim
leaders in this nation should be flooding the media at this time with hard facts
on your faith, and what hard actions you are taking as a community and as a
religion to protect the United States of America . Please, no more benign
overtures of regret for the death of the innocent, because I worry about who you
regard as innocent. No more benign overtures of condemnation for the unprovoked
attacks, because I worry about what is unprovoked to you. I am not
interested in any more sympathy; I am interested only in action.
What will you do for America - our great country - at this time of crisis, at
this time of war?
I want to see Arab-Muslims waving
the AMERICAN flag in the streets. I want to hear you chanting 'Allah Bless
America '. I want to see young Arab/Muslim men enlisting in the military.
I want to see a commitment of money, time and emotion to the victims of this
butchering and to this nation as a whole.
The FBI has a list
of over 400 people they want to talk to regarding the WTC attack. Many of these
people live and socialize right now in Muslim communities. You know
them.
You know where they are. Hand
them over to us, now! But I have seen little even approaching this sort of
action. Instead I have seen an already closed and secretive community
close even tighter. You have disappeared from the streets. You have
posted armed security guards at your facilities. You have threatened
lawsuits. You have screamed for protection from reprisals.
The very few Arab/Muslim representatives that HAVE appeared in the media
were defensive and equivocating. They seemed more concerned with making
sure that the United States proves who was responsible before taking
action. They seemed more concerned with protecting their fellow Muslims
from violence directed towards them in the United States and abroad than they
did with supporting our country and denouncing 'leaders' like Khadafi, Hussein,
Farrakhan, and Arafat.
If the true teachings of Islam
proclaim tolerance and peace and love for all people, then I want chapter and
verse from the Koran and statements from popular Muslim leaders to back it
up. What good is it if the teachings in the Koran are good, pure, and
true, when your 'leaders' are teaching fanatical interpretations, terrorism, and
intolerance? It matters little how good Islam SHOULD BE if huge numbers of
the world's Muslims interpret the teachings of Mohammed incorrectly and adhere
to a degenerative form of the religion. A form that has been demonstrated
to us over and over again. A form whose structure is built upon a
foundation of violence, death, and suicide. A form whose members are
recruited from the prisons around the world. A form whose members (some as
young as five years old) are seen day after day, week in and week out, year
after year, marching in the streets around the world, burning effigies of our
presidents, burning the American flag, shooting weapons into the air. A
form whose members convert from a peaceful religion, only to take up arms
against the great United States of America, the country of their birth. A
form whose rules are so twisted, that their traveling members refuse to show
their faces at airport security checkpoints, in the name of Islam.
We will NEVER allow the attacks of September 11, or any others for that
matter, to take away that which is so precious to us -our rights under the
greatest constitution in the world. I want to know where every Arab Muslim
in this country stands and I think it is my right and the right of every true
citizen of this country to demand it. A right paid for by the blood of
thousands of my brothers and sisters who died protecting the very constitution
that is protecting you and your family.
I am pleading with
you to let me know. I want you here as my brother, my neighbor, my friend,
as a fellow American. But there can be no gray areas or ambivalence regarding
your allegiance, and it is up to YOU, to show ME, where YOU stand. Until
then, "YOU WORRY ME!"
Tuesday, June 21, 2011
Legislation to Delay Banks from Foreclosing
The Housing Market Is Unpredictable
Passing legislation at the federal level (it already exists in Florida) that lengthens the time it takes a bank to forclose will motivate more borrowers to strategically default; stop making their payments and either live in their houses for free or rent them out and pocket the proceeds.
But it will also artificially prop up sale prices and make us think we have hit bottom. The flood of foreclosure properties that would normally be coming onto the market will be delayed, but they will eventually appear. This will give a false sense that the housing market is improving and will be spun hard by the OBama team that things are getting better, not just being postponed.
Government action to assist those threatened with foreclosure will have a tremendous impact on the value of your home...one way or the other.
Here is the article explaining the pending legislation. I have put in bold the parts I think sum it up.
Article from DSNEWS.COM:
Bankers Advocate Opposition of Mortgage Servicing Amendment
06/17/2011 BY: CARRIE BAY
The American Bankers Association has sent a letter to key lawmakers in the Senate, urging them to reject foreclosure legislation proposed by Sens. Jeff Merkley (D-Oregon) and Olympia Snowe (R-Maine).
Their bill, tagged the Regulation of Mortgage Servicing Act, has been introduced as an amendment to the larger economic development legislation (S. 782) currently making its way through Congress.
It addresses several reforms already included in regulatory consent orders, such as a single point-of-contact for borrowers and ending dual-tracking. It also requires an independent, third-party case review prior to foreclosure. This last point is a major sticking point for the bankers group.
In offering up the amendment, Merkley said, “This economic development bill is designed to help get people back to work, but we won’t get the economy moving again until we deal with the foreclosure crisis.”
He added, “Since foreclosures bring down the prices of surrounding homes, everyone loses when a family is not given a fair chance to refinance. This mortgage servicing amendment will help to keep families in their homes, producing a win-win benefit for families and local economies.”
But the American Bankers Association (ABA) says, “The Merkley/Snowe provision would further destabilize the mortgage and housing markets by suspending legitimate foreclosures already in process imposing new requirements on existing loan terms, and increasing costs for all homeowners as lenders factor in costs imposed by the new requirements.”
In the ABA’s letter sent to Senate Majority Leader Harry Reid (D-Nevada) and Senate Minority Leader Mitch McConnell (R-Kentucky), the group went on to say, “The on-going price declines in the housing market, foreclosures relating to job losses, and other impacts of the recent recession are devastating to borrowers and lenders alike. This legislation, however, will only exacerbate an already difficult situation. Delaying legitimate foreclosures and increasing costs associated with them will only prolong the pain of the current situation.”
ABA also stated that the legislation is “ill-timed,” noting that both the state attorneys general and federal banking regulators are already engaged in discussions on how to impose both servicing and foreclosure standards on lenders.
“This legislation would presumably trump and potentially conflict with those efforts, adding further confusion, delay, and cost to an already troubled housing market,” ABA said.
While Snowe argues that the amendment would help to stave off “unnecessary foreclosures caused by confusing communications with loan servicers and misfiled or flawed paperwork,” ABA again stressed that it will only prolong the market correction by slowing down “legitimate foreclosures” and they urged Reid and McConnell to lead the Senate in rejecting the amendment.
Here is the link to the Florida State Law on the same thing:
http://bit.ly/jCoFqq
Passing legislation at the federal level (it already exists in Florida) that lengthens the time it takes a bank to forclose will motivate more borrowers to strategically default; stop making their payments and either live in their houses for free or rent them out and pocket the proceeds.
But it will also artificially prop up sale prices and make us think we have hit bottom. The flood of foreclosure properties that would normally be coming onto the market will be delayed, but they will eventually appear. This will give a false sense that the housing market is improving and will be spun hard by the OBama team that things are getting better, not just being postponed.
Government action to assist those threatened with foreclosure will have a tremendous impact on the value of your home...one way or the other.
Here is the article explaining the pending legislation. I have put in bold the parts I think sum it up.
Article from DSNEWS.COM:
Bankers Advocate Opposition of Mortgage Servicing Amendment
06/17/2011 BY: CARRIE BAY
The American Bankers Association has sent a letter to key lawmakers in the Senate, urging them to reject foreclosure legislation proposed by Sens. Jeff Merkley (D-Oregon) and Olympia Snowe (R-Maine).
Their bill, tagged the Regulation of Mortgage Servicing Act, has been introduced as an amendment to the larger economic development legislation (S. 782) currently making its way through Congress.
It addresses several reforms already included in regulatory consent orders, such as a single point-of-contact for borrowers and ending dual-tracking. It also requires an independent, third-party case review prior to foreclosure. This last point is a major sticking point for the bankers group.
In offering up the amendment, Merkley said, “This economic development bill is designed to help get people back to work, but we won’t get the economy moving again until we deal with the foreclosure crisis.”
He added, “Since foreclosures bring down the prices of surrounding homes, everyone loses when a family is not given a fair chance to refinance. This mortgage servicing amendment will help to keep families in their homes, producing a win-win benefit for families and local economies.”
But the American Bankers Association (ABA) says, “The Merkley/Snowe provision would further destabilize the mortgage and housing markets by suspending legitimate foreclosures already in process imposing new requirements on existing loan terms, and increasing costs for all homeowners as lenders factor in costs imposed by the new requirements.”
In the ABA’s letter sent to Senate Majority Leader Harry Reid (D-Nevada) and Senate Minority Leader Mitch McConnell (R-Kentucky), the group went on to say, “The on-going price declines in the housing market, foreclosures relating to job losses, and other impacts of the recent recession are devastating to borrowers and lenders alike. This legislation, however, will only exacerbate an already difficult situation. Delaying legitimate foreclosures and increasing costs associated with them will only prolong the pain of the current situation.”
ABA also stated that the legislation is “ill-timed,” noting that both the state attorneys general and federal banking regulators are already engaged in discussions on how to impose both servicing and foreclosure standards on lenders.
“This legislation would presumably trump and potentially conflict with those efforts, adding further confusion, delay, and cost to an already troubled housing market,” ABA said.
While Snowe argues that the amendment would help to stave off “unnecessary foreclosures caused by confusing communications with loan servicers and misfiled or flawed paperwork,” ABA again stressed that it will only prolong the market correction by slowing down “legitimate foreclosures” and they urged Reid and McConnell to lead the Senate in rejecting the amendment.
Here is the link to the Florida State Law on the same thing:
http://bit.ly/jCoFqq
Friday, June 10, 2011
Strategic Defaulters Rejoice-HAMP'S Been Humped!
They can't get it done!
Yesterday my accountant told me how effective he has been helping folks get their mortagages mitigated. That is, having the bank reduce the principle amount they owe thus reducing thier monthly payment to something they can afford and eliminating the need and cost for the bank to foreclose.
The government has a program they call HAMP-Home Affordable Mortgage Program-to payoff the banks for the loss they will take in doing a loan modification.
But our government is broke, so they needed to find a way to delay paying the HAMP money. Easy. Evaluate the lenders and then claim they are not performing good enough. Classify them as needing “substantial” improvement and then withold payment of the bailout money.
Nothing more disappointing to Banks doing HAMP deals based on the government giving them bailout money, and then finding out the government won't pay! Common sense says you better stop doing these HAMP deals until you start getting the money you were promised.
Read the article. If you are in Strategic Default you will be delighted to learn which banks are taking forever to foreclose.
If you try to get the taxpayer to pick up the loss the bank will take if they foreclose on your house by using the HAMP bailout money, then you probably lose. These loans will dry up.
Sort of forces delinquent borrowers to not pay anything to their lenders and do a strategic default; rather than try to get a double-crossed bank to modify their loan via HAMP, don't cha think?
Here is the article where I got the poop on the government defaulting on its obligation to the banks:
Treasury Puts Performance of 10 Largest HAMP Servicers on Display
06/09/2011 BY: CARRIE BAY DSNews.com
The U.S. Treasury has released its regular monthly report card on the Home Affordable Modification Program (HAMP). New this time is an assessment of how the 10 largest HAMP servicers are performing.
Four servicers have been designated as needing “substantial” improvement: Bank of America, JPMorgan Chase, Ocwen Loan Servicing, and Wells Fargo.
For three of these – BofA, JPMorgan, and Wells – Treasury is withholding all future financial incentives until they make specific improvements. Should they fail to correct identified problems in a “reasonable time,” Treasury says it may permanently reduce their financial incentives. As problems are remedied, incentive payments will resume.
Treasury will not withhold servicer incentives owed to Ocwen because officials say Ocwen’s compliance results were “substantially and negatively affected” by its acquisition of HomEq Servicing just before the compliance testing period, which covered part of the fourth quarter of last year and the first quarter of this year.
“Treasury will withhold servicer incentives from Ocwen if future compliance results do not indicate improvements,” according to the department’s report.
The remaining six of the largest servicers have been tagged as needing “moderate” improvement: American Home Mortgage Servicing, CitiMortgage, GMAC Mortgage, Litton Loan Servicing, OneWest, and Select Portfolio Servicing.
These firms could have incentives withheld in the future if they fail to make certain improvements, Treasury explained.
All withholdings apply only to incentives owed to servicers for their participation in the federal program. Incentives slated to go to homeowners or investors will still be paid through the servicer.
No servicer has been identified as needing only “minor” improvement.
According to Treasury’s report, there are currently 608,000 permanent HAMP modifications in active status.
Servicers converted 29,000 trial mods to permanent during the month of April and started another 29,000 trial plans during the month.
Treasury notes that of trial modifications started since June 2010, the average length of the trial period has been 3.5 months and 70 percent of those have been converted to permanent modifications.
The median payment reduction among permanent mods is 37 percent, or more than $500 a month, and Tim Massad, assistant Treasury secretary, says re-defaults have been “lower than anyone expected.”
Treasury says it plans to issue program assessments of the top 10 servicers on a quarterly basis.
________________________________________
Yesterday my accountant told me how effective he has been helping folks get their mortagages mitigated. That is, having the bank reduce the principle amount they owe thus reducing thier monthly payment to something they can afford and eliminating the need and cost for the bank to foreclose.
The government has a program they call HAMP-Home Affordable Mortgage Program-to payoff the banks for the loss they will take in doing a loan modification.
But our government is broke, so they needed to find a way to delay paying the HAMP money. Easy. Evaluate the lenders and then claim they are not performing good enough. Classify them as needing “substantial” improvement and then withold payment of the bailout money.
Nothing more disappointing to Banks doing HAMP deals based on the government giving them bailout money, and then finding out the government won't pay! Common sense says you better stop doing these HAMP deals until you start getting the money you were promised.
Read the article. If you are in Strategic Default you will be delighted to learn which banks are taking forever to foreclose.
If you try to get the taxpayer to pick up the loss the bank will take if they foreclose on your house by using the HAMP bailout money, then you probably lose. These loans will dry up.
Sort of forces delinquent borrowers to not pay anything to their lenders and do a strategic default; rather than try to get a double-crossed bank to modify their loan via HAMP, don't cha think?
Here is the article where I got the poop on the government defaulting on its obligation to the banks:
Treasury Puts Performance of 10 Largest HAMP Servicers on Display
06/09/2011 BY: CARRIE BAY DSNews.com
The U.S. Treasury has released its regular monthly report card on the Home Affordable Modification Program (HAMP). New this time is an assessment of how the 10 largest HAMP servicers are performing.
Four servicers have been designated as needing “substantial” improvement: Bank of America, JPMorgan Chase, Ocwen Loan Servicing, and Wells Fargo.
For three of these – BofA, JPMorgan, and Wells – Treasury is withholding all future financial incentives until they make specific improvements. Should they fail to correct identified problems in a “reasonable time,” Treasury says it may permanently reduce their financial incentives. As problems are remedied, incentive payments will resume.
Treasury will not withhold servicer incentives owed to Ocwen because officials say Ocwen’s compliance results were “substantially and negatively affected” by its acquisition of HomEq Servicing just before the compliance testing period, which covered part of the fourth quarter of last year and the first quarter of this year.
“Treasury will withhold servicer incentives from Ocwen if future compliance results do not indicate improvements,” according to the department’s report.
The remaining six of the largest servicers have been tagged as needing “moderate” improvement: American Home Mortgage Servicing, CitiMortgage, GMAC Mortgage, Litton Loan Servicing, OneWest, and Select Portfolio Servicing.
These firms could have incentives withheld in the future if they fail to make certain improvements, Treasury explained.
All withholdings apply only to incentives owed to servicers for their participation in the federal program. Incentives slated to go to homeowners or investors will still be paid through the servicer.
No servicer has been identified as needing only “minor” improvement.
According to Treasury’s report, there are currently 608,000 permanent HAMP modifications in active status.
Servicers converted 29,000 trial mods to permanent during the month of April and started another 29,000 trial plans during the month.
Treasury notes that of trial modifications started since June 2010, the average length of the trial period has been 3.5 months and 70 percent of those have been converted to permanent modifications.
The median payment reduction among permanent mods is 37 percent, or more than $500 a month, and Tim Massad, assistant Treasury secretary, says re-defaults have been “lower than anyone expected.”
Treasury says it plans to issue program assessments of the top 10 servicers on a quarterly basis.
________________________________________
Wednesday, June 8, 2011
AGAIN: Throw the Bums Out!
This supports my opinion in my last blog that the most important reform we need is to eliminate term limits and the self-serving politicians they breed. Let's attract successful people willing to contribute Public Service for a few years.
FROM TEAPARTYPATRIOTS.COM
"We're talking about the Four Big Lies that Republicans, Democrats, Congressmen, Senators, Reporters, and the President will tell you over the next few weeks as they try to convince you to let them raise the debt ceiling"...
There's no way to cut enough spending. So we must raise the debt ceiling. If we don't raise it America will not be able to pay back its creditors and the rest of the world will never trust us with money again. It will be a disaster!!!"
Fact
The problem is not that congress can't cut spending. The problem is that congress
doesn't want to cut spending.
There's a big difference.
The United States Government is addicted to spending money. It is a gluttonous, greedy, vulgar addiction that makes drug addicts look stable by comparison.
If you lock a heroin addict in a nice room, provide him with everything he needs to live, but give him no more heroin, what happens? He panics. He will become totally irrational, scream, cry, beg, plead, bargain, lie, steal, and (given the chance) maybe even kill to get more drugs. It would be difficult to watch him go through the painful process of breaking the addiction. But if you care about his future, you know that you cannot trust the words that are coming out of his mouth. It's the addiction talking. You stand strong and cut off his supply until the addiction is broken.
It's time to lock the government in a nice room. We will care for it and give it everything it needs to live. And because we love America, we're going to stand strong and force it to break the addiction.
The truth is that the spending can be cut quickly and in a large enough amount to avoid blowing past the debt ceiling.
At the end of President Clinton's term in office (just 10 years ago) the government was operating with a budget surplus. Some debate the specifics; but no one can debate that spending was far lower than it is now, and the economy was much better than it is now.
During President Bush's term in office federal spending climbed and climbed. Government grew faster and bigger than it should ever be allowed to do.
President Obama has had the credit card for only 28 months. And in that time the government has grown more than it did under all previous Presidents added together!
Common sense dictates that if it can be pumped up that quickly, it can be cut back quickly too.
Many of the things that will have to be reduced are popular government programs that politicians fear cutting. But we cannot continue to survive as a country if we fail to properly manage massive government programs because they're considered "sacred cows".
The "sacred cows" have run off into the wild and are going to starve to death if we don't bring them back into the barn.
We've also got a few diseased "mad cows" (like Obamacare) that just need to be put down in order to save the herd.
Mr. President, Senate, & Congress; We are not going to let youraise the debt ceiling. So stop asking. Now move on"
FROM TEAPARTYPATRIOTS.COM
"We're talking about the Four Big Lies that Republicans, Democrats, Congressmen, Senators, Reporters, and the President will tell you over the next few weeks as they try to convince you to let them raise the debt ceiling"...
There's no way to cut enough spending. So we must raise the debt ceiling. If we don't raise it America will not be able to pay back its creditors and the rest of the world will never trust us with money again. It will be a disaster!!!"
Fact
The problem is not that congress can't cut spending. The problem is that congress
doesn't want to cut spending.
There's a big difference.
The United States Government is addicted to spending money. It is a gluttonous, greedy, vulgar addiction that makes drug addicts look stable by comparison.
If you lock a heroin addict in a nice room, provide him with everything he needs to live, but give him no more heroin, what happens? He panics. He will become totally irrational, scream, cry, beg, plead, bargain, lie, steal, and (given the chance) maybe even kill to get more drugs. It would be difficult to watch him go through the painful process of breaking the addiction. But if you care about his future, you know that you cannot trust the words that are coming out of his mouth. It's the addiction talking. You stand strong and cut off his supply until the addiction is broken.
It's time to lock the government in a nice room. We will care for it and give it everything it needs to live. And because we love America, we're going to stand strong and force it to break the addiction.
The truth is that the spending can be cut quickly and in a large enough amount to avoid blowing past the debt ceiling.
At the end of President Clinton's term in office (just 10 years ago) the government was operating with a budget surplus. Some debate the specifics; but no one can debate that spending was far lower than it is now, and the economy was much better than it is now.
During President Bush's term in office federal spending climbed and climbed. Government grew faster and bigger than it should ever be allowed to do.
President Obama has had the credit card for only 28 months. And in that time the government has grown more than it did under all previous Presidents added together!
Common sense dictates that if it can be pumped up that quickly, it can be cut back quickly too.
Many of the things that will have to be reduced are popular government programs that politicians fear cutting. But we cannot continue to survive as a country if we fail to properly manage massive government programs because they're considered "sacred cows".
The "sacred cows" have run off into the wild and are going to starve to death if we don't bring them back into the barn.
We've also got a few diseased "mad cows" (like Obamacare) that just need to be put down in order to save the herd.
Mr. President, Senate, & Congress; We are not going to let youraise the debt ceiling. So stop asking. Now move on"
WHY TO NOT VOTE "REPUBLICAN"
Here is a paragraph from John Mauldin's newsletter that is very enlightening...
"Europe, America and Japan draw their economic managers from the ranks of professionals sliding back and forth between the banks and finance ministries – what the Japanese call “descent from heaven” to the private sector where worldly rewards are greatest.
It is not merely delayed payment for past service. Their government experience and contacts helps them influence the remaining public bureaucracy and lobby their equally opportunistic replacements to promote pro-financial fiscal and monetary policies – that is, to handcuff government and deter regulation and taxation of the financial sector and its real estate and monopoly clients, and to use the government’s taxing and money-creating power to provide bailouts when the inevitable financial collapse occurs as the economy shrinks below break-even levels into negative equity territory."
I have a college degree, have earned Mercedes level income and have always voted Republican.
I did not have time to learn how some "conservative" values were self-serving. If you had extra money and were an "investor", if you had a "financial advisor" you were a Republican and a patron of our financial institutions.
However, our current Republican Congressmen are in bed with Wall Street. They depend on them for contributions and get-me-elected-again, support. They have nearly ruined our country using debt to finance pork and political payoffs .
I am now a local "Tea Party" Independent. Until and Unless I find out Tea Party candidates are just as self-serving and corrupt as the ones we already have.
I think the only real answer is term limits. "Throw The Bums Out" Don't let the bastards make a well-paying career out of "public service". Kill their health and retirement benefits. Our current politicians are a ruling class, not public servants.
(My quote is from The Stark Choice for Europe - John Mauldin's Outside the Box E-Letter)
"Europe, America and Japan draw their economic managers from the ranks of professionals sliding back and forth between the banks and finance ministries – what the Japanese call “descent from heaven” to the private sector where worldly rewards are greatest.
It is not merely delayed payment for past service. Their government experience and contacts helps them influence the remaining public bureaucracy and lobby their equally opportunistic replacements to promote pro-financial fiscal and monetary policies – that is, to handcuff government and deter regulation and taxation of the financial sector and its real estate and monopoly clients, and to use the government’s taxing and money-creating power to provide bailouts when the inevitable financial collapse occurs as the economy shrinks below break-even levels into negative equity territory."
I have a college degree, have earned Mercedes level income and have always voted Republican.
I did not have time to learn how some "conservative" values were self-serving. If you had extra money and were an "investor", if you had a "financial advisor" you were a Republican and a patron of our financial institutions.
However, our current Republican Congressmen are in bed with Wall Street. They depend on them for contributions and get-me-elected-again, support. They have nearly ruined our country using debt to finance pork and political payoffs .
I am now a local "Tea Party" Independent. Until and Unless I find out Tea Party candidates are just as self-serving and corrupt as the ones we already have.
I think the only real answer is term limits. "Throw The Bums Out" Don't let the bastards make a well-paying career out of "public service". Kill their health and retirement benefits. Our current politicians are a ruling class, not public servants.
(My quote is from The Stark Choice for Europe - John Mauldin's Outside the Box E-Letter)
Saturday, June 4, 2011
Can't Decide What to Fear Most-Local Crime and Gangs or Jihadists
I stopped into a gun store opening up here in Palm Coast. That will make four in town I think. After the visit I decided to start writing a new Blog "Praise The Lord and Pass The Ammunition" to give myself a chance to rant about local crime and also how slow we are to recognize the danger of Jihad. Here is a revised blurb on something I read on another blog:
Join the movement to stop Islamic expansionism in the West! We are now a rag-tag coalition. We come from different world views, religions, races, lifestyles and political parties.
But remember those wonderful World War II movies that depict American units composed of an ethnic mix from central casting--a New York Jew, an Irishman, a Southerner, a Midwesterner--each with starkly different family backgrounds and beliefs, waiting for combat. They were welded into a rough, durable unit by the common threat they faced: diabolical racist aggression by Nazi Germany.
Split as we might have been on Dec. 6, 1941 about the wisdom of taking part in the Second World War. Resentful as Irish-Americans might have been of Great Britain. Torn as Italian-Americans felt about invading Italy. Suspicious as Christians might have been about sending aid to Stalin's Russia... when our nation was openly attacked we pulled together for the duration of the fight.
We did not highlight our differences or broadcast the grudges(some of them justified) we held against each other. We shrugged them off and soldiered on. That is what we must do now against the new threat to our nation, Muslim Jihadists. Join me. Stand up! Speak Out!
About Local Crime: I need to put together contacts who can help me expand on the short, local "Cops Corner" weekly column in the Palm Coast Observer. To get data on who and where the four Gangs we are purported to have in Palm Coast are located. To track and report on which areas of town are or are becoming Crime Ridden. Do you know anyone I can talk with? At the Palm Coast Police Department? Sheriff's Department? Drop me a comment.
God Bless America! Long Live God!
Join the movement to stop Islamic expansionism in the West! We are now a rag-tag coalition. We come from different world views, religions, races, lifestyles and political parties.
But remember those wonderful World War II movies that depict American units composed of an ethnic mix from central casting--a New York Jew, an Irishman, a Southerner, a Midwesterner--each with starkly different family backgrounds and beliefs, waiting for combat. They were welded into a rough, durable unit by the common threat they faced: diabolical racist aggression by Nazi Germany.
Split as we might have been on Dec. 6, 1941 about the wisdom of taking part in the Second World War. Resentful as Irish-Americans might have been of Great Britain. Torn as Italian-Americans felt about invading Italy. Suspicious as Christians might have been about sending aid to Stalin's Russia... when our nation was openly attacked we pulled together for the duration of the fight.
We did not highlight our differences or broadcast the grudges(some of them justified) we held against each other. We shrugged them off and soldiered on. That is what we must do now against the new threat to our nation, Muslim Jihadists. Join me. Stand up! Speak Out!
About Local Crime: I need to put together contacts who can help me expand on the short, local "Cops Corner" weekly column in the Palm Coast Observer. To get data on who and where the four Gangs we are purported to have in Palm Coast are located. To track and report on which areas of town are or are becoming Crime Ridden. Do you know anyone I can talk with? At the Palm Coast Police Department? Sheriff's Department? Drop me a comment.
God Bless America! Long Live God!
Friday, June 3, 2011
Inflation, Outliving My Money, Jobless Realtor=Ebay!
Desperation is the mother of innovation. I need a fun way to earn some money.
I contemplate...
(a) Palm Coast does not have its own Craig's List. We have to use Daytona's or St. Augustine's.
(b) I used to give stuff to a pack n ship guy who put things on Ebay for a fee; but he closed up shop.
(c) I have been giving good stuff to GoodWill
IDEA!
Wife wants to give away an extra set of dishes. Online research suggests they are worth almost a thousand. I look around the house. There's all kinds of chatchkees we could be getting rid of.
AND...My friend is thinking about bankrupty and wants to unload a bunch of stuff first and spend the money before he files.
AND...I have a hand gun I want to sell so I can by a shotgun.
CONCEPT: Open an Ebay store to sell and ship. But also sell large stuff like furniture and lawnmowers for pickup in Palm Coast.
Recognize the Recession! People are interested in good used stuff at cheap prices. Combine Craig's List convenience and inspection advantages with Ebay's ability to reach lots of people. Let people know about interesting and useful things for sale at bargain prices. Classify them as to whether they can pick the thing up in Palm Coast or whether it needs to be shipped to them.
I don't plan to buy stuff at garage sales and flea markets and places like that for resale. But I will take interesting stuff on consingment and sell it for a small fee plus out of pocket costs if I think will help draw visitors to my store.
Think I can do it?
I do! I am busy taking pictures of those dishes!
AND I am looking for someone with Ebay expertise to train me on the nuances of running an Ebay store.
Got Something to Sell? Drop me an email with a photo: tedleshersr@gmail.com. Use TALK TO TED for the subject line or it will probably get deleted before I read it.
Also send me an email and use TALK TO TED if you want me to hire you for your Ebay expertise or if you really know ebay and would like to make some extra money helping me post items. ($10 hr to start. Remember I am a starving, 74 year-old retiree!)
I contemplate...
(a) Palm Coast does not have its own Craig's List. We have to use Daytona's or St. Augustine's.
(b) I used to give stuff to a pack n ship guy who put things on Ebay for a fee; but he closed up shop.
(c) I have been giving good stuff to GoodWill
IDEA!
Wife wants to give away an extra set of dishes. Online research suggests they are worth almost a thousand. I look around the house. There's all kinds of chatchkees we could be getting rid of.
AND...My friend is thinking about bankrupty and wants to unload a bunch of stuff first and spend the money before he files.
AND...I have a hand gun I want to sell so I can by a shotgun.
CONCEPT: Open an Ebay store to sell and ship. But also sell large stuff like furniture and lawnmowers for pickup in Palm Coast.
Recognize the Recession! People are interested in good used stuff at cheap prices. Combine Craig's List convenience and inspection advantages with Ebay's ability to reach lots of people. Let people know about interesting and useful things for sale at bargain prices. Classify them as to whether they can pick the thing up in Palm Coast or whether it needs to be shipped to them.
I don't plan to buy stuff at garage sales and flea markets and places like that for resale. But I will take interesting stuff on consingment and sell it for a small fee plus out of pocket costs if I think will help draw visitors to my store.
Think I can do it?
I do! I am busy taking pictures of those dishes!
AND I am looking for someone with Ebay expertise to train me on the nuances of running an Ebay store.
Got Something to Sell? Drop me an email with a photo: tedleshersr@gmail.com. Use TALK TO TED for the subject line or it will probably get deleted before I read it.
Also send me an email and use TALK TO TED if you want me to hire you for your Ebay expertise or if you really know ebay and would like to make some extra money helping me post items. ($10 hr to start. Remember I am a starving, 74 year-old retiree!)
Saturday, February 19, 2011
Designing A Computer Screen?
One of my former consultants, Susan Weinschenk, writes a good blog "What Makes Them Click". Useful for anyone designing anything for a computer screen...
Cognitive loads are expensiveYou are paying bills at your online banking website. You have to think about what bills need to be paid when, look up your balance, decide how much to pay on your credit cards, and push the right buttons to get the payments processed. As you do this task, you are thinking and remembering (cognitive), looking at the screen (visual), and pressing buttons, typing, and moving the mouse (motor).
In human factors terminology these are called “loads”. The theory is that there are basically three different kinds of demands or loads that you can make on a person: Cognitive (thinking and remembering), Visual, and Motor.
Not all the loads are equal — Each of the loads uses up different amounts of mental resources. You use up more resources when you ask people to look at something or find something on a screen (visual) than when you ask them to press a button or move a mouse (motor). You use up more resources by asking people to think or remember or do a mental calculation (Cognitive), than when you ask them to look at something on a screen (Visual). So from a human factors point of view, the order of the loads from most “expensive” to least is:
Cognitive (most “expensive”)
Visual
Motor (least “expensive”)
It’s all about trade-offs — From a human factors point of view, when you are designing a product, application, or website, you are always making trade-offs. If you have to add a few clicks, but by doing so the person doesn’t have to think or remember as much, that is worth it. Clicking is less of a load than thinking. I once did some research on this topic. People had to go through more than 10 clicks to get the task done, and at the end they would look up and smile and say, “That was easy!” because each step was logical and gave them what they expected. They didn’t have to think. Clicking is less of a load than thinking.
Reduce loads to make it easier — Most of the time when considering loads in design we are looking to reduce the loads (especially cognitive and visual) to make the product easier to use.
Increase loads to grab attention — But sometimes you want to increase the load. For example, to grab someone’s attention you might put more visual information (pictures, animation, a video) and thereby increase the visual load of the product.
Increase loads = gaming — The best example of purposely increasing loads is gaming. A game is an interface where one or two or three of the loads has been intentionally increased in order to provide challenge. Some games have high cognitive loads, some have high visual loads, some have high motor loads, and some have purposely increased more than one load.
Have you evaluated a website or product from this point of view? Have you designed a product or website from this point of view?
100 Things You Should Know About People: #60 — Cognitive “Loads” Are The Most “Expensive”
Posted: 17 Feb 2011 09:32 PM PST
Cognitive loads are expensiveYou are paying bills at your online banking website. You have to think about what bills need to be paid when, look up your balance, decide how much to pay on your credit cards, and push the right buttons to get the payments processed. As you do this task, you are thinking and remembering (cognitive), looking at the screen (visual), and pressing buttons, typing, and moving the mouse (motor).
In human factors terminology these are called “loads”. The theory is that there are basically three different kinds of demands or loads that you can make on a person: Cognitive (thinking and remembering), Visual, and Motor.
Not all the loads are equal — Each of the loads uses up different amounts of mental resources. You use up more resources when you ask people to look at something or find something on a screen (visual) than when you ask them to press a button or move a mouse (motor). You use up more resources by asking people to think or remember or do a mental calculation (Cognitive), than when you ask them to look at something on a screen (Visual). So from a human factors point of view, the order of the loads from most “expensive” to least is:
Cognitive (most “expensive”)
Visual
Motor (least “expensive”)
It’s all about trade-offs — From a human factors point of view, when you are designing a product, application, or website, you are always making trade-offs. If you have to add a few clicks, but by doing so the person doesn’t have to think or remember as much, that is worth it. Clicking is less of a load than thinking. I once did some research on this topic. People had to go through more than 10 clicks to get the task done, and at the end they would look up and smile and say, “That was easy!” because each step was logical and gave them what they expected. They didn’t have to think. Clicking is less of a load than thinking.
Reduce loads to make it easier — Most of the time when considering loads in design we are looking to reduce the loads (especially cognitive and visual) to make the product easier to use.
Increase loads to grab attention — But sometimes you want to increase the load. For example, to grab someone’s attention you might put more visual information (pictures, animation, a video) and thereby increase the visual load of the product.
Increase loads = gaming — The best example of purposely increasing loads is gaming. A game is an interface where one or two or three of the loads has been intentionally increased in order to provide challenge. Some games have high cognitive loads, some have high visual loads, some have high motor loads, and some have purposely increased more than one load.
Have you evaluated a website or product from this point of view? Have you designed a product or website from this point of view?
100 Things You Should Know About People: #60 — Cognitive “Loads” Are The Most “Expensive”
Posted: 17 Feb 2011 09:32 PM PST
Thursday, February 17, 2011
PALM COAST RUSSIANS: Planning a vacation? Check out this report on which countries do the most drinking
http://www.who.int/substance_abuse/publications/global_alcohol_report/
What bars do my Russian neighbors favor in Palm Coast? Most of those I know go to the liquor store and drink at home. If there are some popular bars where Russian speakers gather, please post them here as a comment.Talk to Ted!
What bars do my Russian neighbors favor in Palm Coast? Most of those I know go to the liquor store and drink at home. If there are some popular bars where Russian speakers gather, please post them here as a comment.Talk to Ted!
PALM COAST RUSSIANS-HEAR WHAT ALJAZZEERA SAYS ABOUT EGYPT
My Russian neighbor gets the Brighthouse Russian TV channel and doesn't watch much regular TV. She does use her computer to talk with friends and relatives. I thought our large Russian community might be helped if I edit the Aljazzeera website for its point of view on world happenings.
Here is what they say about Egypt. Please drop me a comment if you find this useful in helping you determine your own position. Use the link to go directly to the article. I think you will be able to search and find the Russian language version of their website. Please post it here as a comment if you find it.
The Egyptian revolution has resurrected pan-Arabism but this is not the pan-Arabism of previous generations
The Egyptian revolution, itself influenced by the Tunisian uprising, has resurrected a new sense of pan-Arabism based on the struggle for social justice and freedom. The overwhelming support for the Egyptian revolutionaries across the Arab world reflects a sense of unity in the rejection of tyrannical, or at least authoritarian, leaders, corruption and the rule of a small financial and political elite.
Arab protests in solidarity with the Egyptian people also suggest that there is a strong yearning for the revival of Egypt as a pan-Arab unifier and leader. Photographs of Gamal Abdel Nasser, the former Egyptian president, have been raised in Cairo and across Arab capitals by people who were not even alive when Nasser died in 1970. The scenes are reminiscent of those that swept Arab streets in the 1950s and 1960s.
But this is not an exact replica of the pan-Arab nationalism of those days. Then, pan-Arabism was a direct response to Western domination and the 1948 establishment of the state of Israel. Today, it is a reaction to the absence of democratic freedoms and the inequitable distribution of wealth across the Arab world.
We are now witnessing the emergence of a movement for democracy that transcends narrow nationalism or even pan-Arab nationalism and which embraces universal human values that echo from north to south and east to west.
This is not to say that there is no anti-imperialist element within the current movement. But the protests in Egypt and elsewhere promote a deeper understanding of human emancipation, which forms the real basis for freedom from both repression and foreign domination.
Unlike the pan-Arabism of the past, the new movement represents an intrinsic belief that it is freedom from fear and human dignity that enables people to build better societies and to create a future of hope and prosperity. The old "wisdom" of past revolutionaries that liberation from foreign domination precedes the struggle for democracy has fallen.
The revolutionaries of Egypt, and before them Tunisia, have exposed through deeds - not merely words - the leaders who are tyrants towards their own people, while humiliatingly subservient to foreign powers. They have shown the impotence of empty slogans that manipulate animosity towards Israel to justify a fake Arab unity, which in turn serves only to mask sustained oppression and the betrayal of Arab societies and the aspirations of the Palestinian
people.http://english.aljazeera.net/video/africa/2011/02/201121745529374196.html
Here is what they say about Egypt. Please drop me a comment if you find this useful in helping you determine your own position. Use the link to go directly to the article. I think you will be able to search and find the Russian language version of their website. Please post it here as a comment if you find it.
The Egyptian revolution has resurrected pan-Arabism but this is not the pan-Arabism of previous generations
The Egyptian revolution, itself influenced by the Tunisian uprising, has resurrected a new sense of pan-Arabism based on the struggle for social justice and freedom. The overwhelming support for the Egyptian revolutionaries across the Arab world reflects a sense of unity in the rejection of tyrannical, or at least authoritarian, leaders, corruption and the rule of a small financial and political elite.
Arab protests in solidarity with the Egyptian people also suggest that there is a strong yearning for the revival of Egypt as a pan-Arab unifier and leader. Photographs of Gamal Abdel Nasser, the former Egyptian president, have been raised in Cairo and across Arab capitals by people who were not even alive when Nasser died in 1970. The scenes are reminiscent of those that swept Arab streets in the 1950s and 1960s.
But this is not an exact replica of the pan-Arab nationalism of those days. Then, pan-Arabism was a direct response to Western domination and the 1948 establishment of the state of Israel. Today, it is a reaction to the absence of democratic freedoms and the inequitable distribution of wealth across the Arab world.
We are now witnessing the emergence of a movement for democracy that transcends narrow nationalism or even pan-Arab nationalism and which embraces universal human values that echo from north to south and east to west.
This is not to say that there is no anti-imperialist element within the current movement. But the protests in Egypt and elsewhere promote a deeper understanding of human emancipation, which forms the real basis for freedom from both repression and foreign domination.
Unlike the pan-Arabism of the past, the new movement represents an intrinsic belief that it is freedom from fear and human dignity that enables people to build better societies and to create a future of hope and prosperity. The old "wisdom" of past revolutionaries that liberation from foreign domination precedes the struggle for democracy has fallen.
The revolutionaries of Egypt, and before them Tunisia, have exposed through deeds - not merely words - the leaders who are tyrants towards their own people, while humiliatingly subservient to foreign powers. They have shown the impotence of empty slogans that manipulate animosity towards Israel to justify a fake Arab unity, which in turn serves only to mask sustained oppression and the betrayal of Arab societies and the aspirations of the Palestinian
people.http://english.aljazeera.net/video/africa/2011/02/201121745529374196.html
Saturday, February 12, 2011
Islam is Doomed
I need to understand Islam. Their philosophy is very compelling.
God makes the rules, not man
God's church should govern man's actions
Humans are not equal; God's Chosen are superior
The West's unwavering commitment to democracy, translates into an unwavering commitment to theocracy, including an anxious impulse to resurrect the caliphate;
http://www.meforum.org/2831/can-american-values-radicalize-muslims
Of course all of these pillars of Islam are made of loose sand. They, themselves, cannot agree just which man has the direction connection to God and should be in charge of telling the rest of us what his rules are. Consequently, they cannot agree on who should run God's church.
Or who are God's Choosen. Which of the Islamic spin-offs is 'The True Church'
So I think we should let them squabble among themselves as they have been doing for thousands of years. We should stop interfering. We are just giving them a unifying cause; "stop westernization" to rally around.
I am convinced their women will shed their bourkas and refuse to remain uneducated and be dominated by males while the men will continue to kill each other over who should be boss.
As they continue with their internal struggles, their Sharia culture will be doomed by the Information Age. The governed will see real world alternatives. The Media Is The Message.
God makes the rules, not man
God's church should govern man's actions
Humans are not equal; God's Chosen are superior
The West's unwavering commitment to democracy, translates into an unwavering commitment to theocracy, including an anxious impulse to resurrect the caliphate;
http://www.meforum.org/2831/can-american-values-radicalize-muslims
Of course all of these pillars of Islam are made of loose sand. They, themselves, cannot agree just which man has the direction connection to God and should be in charge of telling the rest of us what his rules are. Consequently, they cannot agree on who should run God's church.
Or who are God's Choosen. Which of the Islamic spin-offs is 'The True Church'
So I think we should let them squabble among themselves as they have been doing for thousands of years. We should stop interfering. We are just giving them a unifying cause; "stop westernization" to rally around.
I am convinced their women will shed their bourkas and refuse to remain uneducated and be dominated by males while the men will continue to kill each other over who should be boss.
As they continue with their internal struggles, their Sharia culture will be doomed by the Information Age. The governed will see real world alternatives. The Media Is The Message.
Friday, February 11, 2011
Multiculturalism? Sounds Nice...
I brag about Palm Coast I describe how culturally diverse it is. What a sweet mix of ethnic groups from all over the world.
However, that is a two edge sword. We also have a touch of "multiculturalism"--the politically correct but weaker word for "balkanization"...
Balkanization, or Balkanisation, is a pejorative geopolitical term originally used to describe the process of fragmentation or division of a region or state into smaller regions or states that are often hostile or non-cooperative with each other (Wikipedia)
My next-door neighbors, Russians, would not teach their children English until they were five years old. The kids had to speak in the mother tongue.
Pandering to Hispanics we have dual language signs all over our new Lowes.
Miami has been annexed by Cuba.
It's time we became outspoken on the dangers of Balkanization here in the US. I love our ethnic mix. It's healthy. It's American. But we must integrate, not segregate and we must all speak English..
However, that is a two edge sword. We also have a touch of "multiculturalism"--the politically correct but weaker word for "balkanization"...
Balkanization, or Balkanisation, is a pejorative geopolitical term originally used to describe the process of fragmentation or division of a region or state into smaller regions or states that are often hostile or non-cooperative with each other (Wikipedia)
My next-door neighbors, Russians, would not teach their children English until they were five years old. The kids had to speak in the mother tongue.
Pandering to Hispanics we have dual language signs all over our new Lowes.
Miami has been annexed by Cuba.
It's time we became outspoken on the dangers of Balkanization here in the US. I love our ethnic mix. It's healthy. It's American. But we must integrate, not segregate and we must all speak English..
Wednesday, February 9, 2011
Defend yourself against Foreclosure
Under Water? Looking into how to defend yourself when talking to friends or your bank? Here is a very well done presentation of the homeowner's argument and the banks argument. It's a business agreement now; a contract. Not a moral obligation. The bankers are being thrown out of the temple.
On Friday we expect our government will pull out from backing mortgages.
And after the next wave of foreclosures, expect the credit card bust to happen. Why should folks not paying their mortgages bother to pay their credit card debt? Another video like this should be in the works!
http://bit.ly/ggG1sk
On Friday we expect our government will pull out from backing mortgages.
And after the next wave of foreclosures, expect the credit card bust to happen. Why should folks not paying their mortgages bother to pay their credit card debt? Another video like this should be in the works!
http://bit.ly/ggG1sk
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