Wednesday, July 23, 2008
Mortgage Company Pre-Foreclosure Suicide
The New York Times reported that a woman committed suicide after sending a note to her mortgage company by fax. She was about to be foreclosed upon.
You see, he worked in the manufactured housing industry and had been averaging 55 hours per week as a foreman. His 15 hours of overtime at double pay meant he often grossed more than 160% of his regular salary. Even though this trend had only occurred for few months, the mortgage company was eager to overlook the downturn in building that was already on the horizon.
They told him he could afford much more house than he expected, and his real estate agent, armed with a pre-qualification letter, showed him every house she could find at the maximum end of his price range. With high interest, his monthly mortgage was $50 more per month than mine, even though our property taxes were triple his, and our home price was $75,000 more.
When his employer cut him back to regular full time when the housing slump began, he couldn't make ends meet, not even close. His mortgage payment was now 65% of his gross pay, and 80% of his take home. Even another job would not have made up the difference because he was relatively highly paid. He would have had to work an additional 50 hours weekly at a $10/hour factory job if he could have gotten one.
He is partially to blame, no doubt. He made some bad decisions. He felt the windfall during the booming housing market would last forever, and that was completely unrealistic.
However, mortgage companies and real estate agents also made a windfall in the booming housing market and they should have known it wouldn't last. In fact, they did know it wouldn't last, and that's why they were trying to squeeze every nickel out of people before the bubble burst.
What they did to my family member, and millions of other Americans, probably wasn't illegal, but certainly wasn't ethical. And now, our federal government is bailing people out. Most of the money, however is being used to bail out poorly managed companies, not poorly managed households.
His home was sold at sheriff sale for $.55 on the dollar. He's in the process of filing for bankruptcy and divorce. Financial matters stress your budget and your marriage.
The sad thing is, how close he had been to the American dream. At 30 years old he'd been working for a decade. He is a hard worker, and with the exception of a broken leg several years ago, had never missed a day of work in his life. He'd been promoted several times because of his exceptional work ethic and dedication. If this is a man who deserved better advice for his family.
Had the real estate agent sold him a house within his budget, he would still be living there, and likely still married. The mortgage company would still be making a profit. The tax collector would have been able to contribute funds to the school budget. He would it still had 60% of his income to spend in the local economy.
As a nation, we exuberantly bought and built houses. Financial services companies lent us more money than we had, or could expect to have in the near future. Real estate agents convinced us that "flipping" was a good idea, while while travel agent suggested we "cash out our equity" for our next vacation. And investment brokers built mutual funds out of real estate, so we could invest without actually owning any of the land, and move our money out when the market got bad regardless of who was living or working on that land.
I hope that Senators McCain and Obama work together to start holding corporate America to the standards that we hope to instill in the American people, regardless of which one of them becomes president. We have too much at stake to allow corporations with questionable ethics to damage the livelihoods of individuals, and the economy as a whole.
I'm paying my mortgage, every month. I'm paying my credit card bills. We just finished paying off our college loans. I pay my taxes on both property and income. I'm a good American and I've made very good financial decisions. Unfortunately, not only am I living the American dream, but I'm financing the American nightmare.
A Massachusetts woman fatally shot herself soon after faxing a letter to her mortgage company saying that by the time they foreclosed on her house that day, she would be dead. The police said the woman, Carlene Balderrama, shot herself Tuesday [July 22,2008], after faxing the letter at 2:30 p.m. The mortgage company called the police, who found Ms. Balderrama’s body at 3:30 p.m.I have a family member who lost his home recently to foreclosure. I'm not blaming his mortgage company exclusively, however the reality is that they extended his family credit well beyond their ability to pay. They mortgaged 107% of their house to cover closing costs. Their mortgage was at 10.5% interest because they had spotty credit. Furthermore, their payments were based on declared income, not tax records.
The auction was scheduled to start at 5 p.m. and interested buyers arrived at the property in Taunton, about 35 miles south Boston, while Ms. Balderrama’s body was still inside, said Chief Raymond O’Berg of the Taunton Police Department. Neighbors said Ms. Balderrama, 53, her husband and her son had lived in the house for about four years.
You see, he worked in the manufactured housing industry and had been averaging 55 hours per week as a foreman. His 15 hours of overtime at double pay meant he often grossed more than 160% of his regular salary. Even though this trend had only occurred for few months, the mortgage company was eager to overlook the downturn in building that was already on the horizon.
They told him he could afford much more house than he expected, and his real estate agent, armed with a pre-qualification letter, showed him every house she could find at the maximum end of his price range. With high interest, his monthly mortgage was $50 more per month than mine, even though our property taxes were triple his, and our home price was $75,000 more.
When his employer cut him back to regular full time when the housing slump began, he couldn't make ends meet, not even close. His mortgage payment was now 65% of his gross pay, and 80% of his take home. Even another job would not have made up the difference because he was relatively highly paid. He would have had to work an additional 50 hours weekly at a $10/hour factory job if he could have gotten one.
He is partially to blame, no doubt. He made some bad decisions. He felt the windfall during the booming housing market would last forever, and that was completely unrealistic.
However, mortgage companies and real estate agents also made a windfall in the booming housing market and they should have known it wouldn't last. In fact, they did know it wouldn't last, and that's why they were trying to squeeze every nickel out of people before the bubble burst.
What they did to my family member, and millions of other Americans, probably wasn't illegal, but certainly wasn't ethical. And now, our federal government is bailing people out. Most of the money, however is being used to bail out poorly managed companies, not poorly managed households.
His home was sold at sheriff sale for $.55 on the dollar. He's in the process of filing for bankruptcy and divorce. Financial matters stress your budget and your marriage.
The sad thing is, how close he had been to the American dream. At 30 years old he'd been working for a decade. He is a hard worker, and with the exception of a broken leg several years ago, had never missed a day of work in his life. He'd been promoted several times because of his exceptional work ethic and dedication. If this is a man who deserved better advice for his family.
Had the real estate agent sold him a house within his budget, he would still be living there, and likely still married. The mortgage company would still be making a profit. The tax collector would have been able to contribute funds to the school budget. He would it still had 60% of his income to spend in the local economy.
As a nation, we exuberantly bought and built houses. Financial services companies lent us more money than we had, or could expect to have in the near future. Real estate agents convinced us that "flipping" was a good idea, while while travel agent suggested we "cash out our equity" for our next vacation. And investment brokers built mutual funds out of real estate, so we could invest without actually owning any of the land, and move our money out when the market got bad regardless of who was living or working on that land.
I hope that Senators McCain and Obama work together to start holding corporate America to the standards that we hope to instill in the American people, regardless of which one of them becomes president. We have too much at stake to allow corporations with questionable ethics to damage the livelihoods of individuals, and the economy as a whole.
I'm paying my mortgage, every month. I'm paying my credit card bills. We just finished paying off our college loans. I pay my taxes on both property and income. I'm a good American and I've made very good financial decisions. Unfortunately, not only am I living the American dream, but I'm financing the American nightmare.
Labels: Barack Obama, corporate America, economics, John McCain, Money, politics
How to Run a Highly Efficient and Effective Meeting
Business leaders today are "meeting-ed" to death. Meetings are essential, but they hamper productivity. Finding the balance between group participation and high productivity will help you create a high-performance team. Twelve tips for faster and more productive meetings.
read more | digg story
read more | digg story
Monday, July 21, 2008
Dead Hermit Crab
The Eulogy: You were a good hermit crab. I knew you for a week, but wish I had known you longer. I kind of wish I would've given you a name other than "the one in the purple shell".
Flush.
Believe it or not, I stayed up late last night writing. I posted a little blog entry about how to care for your hermit crab and decided to go to bed. I checked on the crabs before bed, and one of them was dead.
I was excited when I read the article because I realized I had been doing almost everything right. I kept them in an aquarium with the right kind of sand. I was very proud of my accomplishment, then... dead.
It is appropriate to flush a crab. With fish it's kind of obvious, but I'm unsure about crabs that live on land. (No, I didn't flush the shell. I'm not a complete idiot.)
I'm down to one crab. I think I'm going to get more, but I'll probably have to order them online because they can't afford another trip to Atlantic City for a four dollar crab.
Flush.
Believe it or not, I stayed up late last night writing. I posted a little blog entry about how to care for your hermit crab and decided to go to bed. I checked on the crabs before bed, and one of them was dead.
I was excited when I read the article because I realized I had been doing almost everything right. I kept them in an aquarium with the right kind of sand. I was very proud of my accomplishment, then... dead.
It is appropriate to flush a crab. With fish it's kind of obvious, but I'm unsure about crabs that live on land. (No, I didn't flush the shell. I'm not a complete idiot.)
I'm down to one crab. I think I'm going to get more, but I'll probably have to order them online because they can't afford another trip to Atlantic City for a four dollar crab.
Labels: pets
Caring for Hermit Crabs
Last summer we got a couple of hermit crabs. They didn't live long. This summer, Ainsley wanted to get some more of them. We got two in Atlantic City last weekend, and I'm determined to take better care of them.
Here's an article about caring for hermit crabs I found and I figured I'd pass it on to you.
Here's an article about caring for hermit crabs I found and I figured I'd pass it on to you.
Hermit Crab Care -- 8 Tips on Keeping Healthy and Happy Hermit Crabs
By Jennifer Manning
Are you thinking of buying one or a few hermit crabs? Hermit crab care seems so simple. Just put them in a little plastic critter carrier with a cap of food and a sponge of water and they'll be fine and dandy.
Unfortunately, it's not as simple as that. This setup is far from the ideal conditions required by the land hermit crabs available in the majority of pet shops. Here are some essential tips on how to keep your hermit crabs happy and healthy.
- Provide a glass aquarium for your hermit crabs -- at least a 5 gallon for one crab and 10 gallons or more for multiple crabs. Get a lid for the top and try to keep a minimum humidity of 70% and a minimum temperature of 72 degrees Fahrenheit.
- Apply an under tank heater to your hermit crab's aquarium and invest in a thermometer and humidity gauge to monitor the environment and make changes as needed.
- Place 1 to 2 inches of calci--sand or play sand in your hermit crab's home (Crabitat). Keep the sand slightly moistened at all times.
- Providing a fresh bowl of non--chlorinated water daily is vital in proper hermit crab care. You can purchase dechlorination drops at your local pet store.
- You should buy a wide variety of shapes and sizes of shells for your crab to change into as desired. Hermit crabs molt and grow on a regular basis and need larger shells to accommodate them.
- It's not a good idea to keep only one hermit crab -- get a few. Hermit crabs are social creatures and live in colonies of hundreds in the wild and do much better when they have the companionship of others.
- In addition to a good staple hermit crab food (available in most pet stores), provide them with a variety of other foods. They also enjoy fresh apples, bananas, peanut butter and a variety of other foods. Variety is very important in hermit crab care. I also like to add a little aquarium sea salt to their food dish too. I usually put the fresh food in a separate dish and remove it the next day.
- Hermit crabs love to climb and play, so provide a variety of toys such as driftwood, flower pots, shells and fish nets. Be creative and experiment. You never know what your hermit crabs will enjoy playing with. Thoroughly clean anything before adding it your Crabitat.
Get more important tips about Hermit Crab Care at http://www.petcarejournal.com - a website designed to provide you with pet care articles and resources to help you get the most out of your pet keeping experience, no matter what type of pet you own.
Labels: pets
Friday, July 11, 2008
Welcome to the world, baby Lucas
A little after 8 a.m. this morning my sister, Jennifer, gave birth to Lucas DeGennaro. Mom and baby are healthy and happy, and he tipped the scales at 8 lbs. 15 oz. He was about a week overdue, and since Jennifer struggled with inducement during her first pregnancy, they did a planned C-section. She's recovering much more quickly this time around.Tomorrow morning we are hopping in the car and heading to Atlantic City. They live in Galloway, New Jersey just outside of Atlantic City.
This is the third baby born in our family in the past seven weeks. Late in May a member of my web team, (and my second cousin) gave birth to her first, a little girl named Natalie. In June, my wife's sister had her first, and we welcomed Lauren Rebecca. Now in July, Lucas joined us.
My wife and I started trying to get pregnant about eight years ago. Our twins turned six in May. Since we began working on our little project, there's been a baby boom among our closest friends and family. Check out this unbelievable list.
- Jason, Ainsley -- our twins
- Brianna, Kaitlyn -- to Kristen's brother, Jonathan
- Lauren -- to my sister in law, Lori
- Vincent, Lucas -- to my sister, Jennifer
- Natalie -- to my cousin, and assistant, Kyley
- Zander, Lexi -- to my personal care attendant, Heather
- Abigail -- to my assistant, Michelle
- Lucy -- to my personal care attendant, another Heather
- Samuel, Gracie -- to my assistant, Jane
- Isaiah, Nathan, Maya,Lara -- to my wife's best friend, Rachel
- Sadie -- to her other best friend, Elizabeth
- Rylee -- to our nanny, Nicole
- Romelo,Victor -- to our nanny, Hollie
- Madison -- to our nanny, Lisa
At first, I thought something was in our water. But partway through, we moved and now use bottled water. Additionally, three of the babies were adopted.
I have another theory. It's me! I've spent significant time with all of these people. Either, my incredible manliness drives women crazy and they run home and take out their passion on their husbands and boyfriends, or, perhaps (but I think unlikely) they are so thankful that their husbands are not like me that they give them good love. Either way, I get the credit or blame!
I'm thinking of making a T-shirt for myself that simply says "Fertility God". Let's hear what you think. Post your comments below.
Labels: baby, fertility, parenting
Sunday, June 29, 2008
Movie Review: Wanted
It's been done a hundred times, give Angelina Jolie a tight outfit and some automatic weapons, and have her go blow some shit up.
While Wanted is definitely a formula movie, it's a formula that is still lots of fun. Angelina Jolie is still sexy in a very raw way, especially when she plays a bad ass.
Morgan Freeman stars as the mastermind of an assassins' crew who kill in the name of justice. Again, not exactly an unfamiliar role for him. But again, we like him.
The unlike the action hero however is James McAvoy. Kristie says "I love him", but frankly I had never heard of him. Recently he starred in two chick flicks, "Becoming Jane" about the early life of Jane Austen, and "Atonement", a period piece from World War II France. Surprised I never heard of him?! You shouldn't be. He did play the Faun in The Lion, the Witch and the Wardrobe. While more people saw him there, it still isn't a role that reeks of "Assassin".
If you like movies heavy on character and light on violence, I guess you should rent Becoming Jane.
If, however, you prefer gratuitous violence, excessive use of the F-word and a couple of sexy shots of Angelina Jolie and her tattoos, this movie is great fun. Generally speaking I am not into the last action hero genre, but this was a really enjoyable movie. The special effects were amazing. The action sequences were very original, albeit bordering on ridiculous.
If this wasn't an action movie, it would have been a great comedy. The action is so over the top, it's almost a parody of itself. James McAvoy's character is quick and funny, without being cliché. They didn't dump a bunch of one-liners on Angelina or Morgan, thank goodness.
This movie won't change your life, but if you don't mind the violence, it's a fun two hours. It's definitely worth seeing on the big screen because of the action sequences and special effects.
While Wanted is definitely a formula movie, it's a formula that is still lots of fun. Angelina Jolie is still sexy in a very raw way, especially when she plays a bad ass.Morgan Freeman stars as the mastermind of an assassins' crew who kill in the name of justice. Again, not exactly an unfamiliar role for him. But again, we like him.
The unlike the action hero however is James McAvoy. Kristie says "I love him", but frankly I had never heard of him. Recently he starred in two chick flicks, "Becoming Jane" about the early life of Jane Austen, and "Atonement", a period piece from World War II France. Surprised I never heard of him?! You shouldn't be. He did play the Faun in The Lion, the Witch and the Wardrobe. While more people saw him there, it still isn't a role that reeks of "Assassin".
If you like movies heavy on character and light on violence, I guess you should rent Becoming Jane.
If, however, you prefer gratuitous violence, excessive use of the F-word and a couple of sexy shots of Angelina Jolie and her tattoos, this movie is great fun. Generally speaking I am not into the last action hero genre, but this was a really enjoyable movie. The special effects were amazing. The action sequences were very original, albeit bordering on ridiculous.
If this wasn't an action movie, it would have been a great comedy. The action is so over the top, it's almost a parody of itself. James McAvoy's character is quick and funny, without being cliché. They didn't dump a bunch of one-liners on Angelina or Morgan, thank goodness.
This movie won't change your life, but if you don't mind the violence, it's a fun two hours. It's definitely worth seeing on the big screen because of the action sequences and special effects.
Tuesday, June 10, 2008
Spa Offers Bird Poop Facial
Have you heard about the new treatment for dull skin? It is bird poop!CNN is reporting that a New York City spa is offering bird poop facials, yes complete with video. Apparently the droppings of a Nightingale can be used to cleanse the skin. Japanese geishas and kabuki actors would use it to cleanse the face of heavy makeup. Today an Asian spa is using it as a skin treatment, and you can have it for only $200.
Don't take my word for it, watch the CNN video... Spa Offers Bird Poop Facial
Holy Crap
Labels: health, weird news
Monday, June 09, 2008
Package and Repackage Your Products and Services
"When you're in the information business like I am, our inventory is limited to our knowledge. Knowledge, expertise and experience are the raw materials that make up our products and services."This blog entry shows how I made $151,000 with a four page PDF file.
read more | digg story
read more | digg story
Thursday, May 29, 2008
Molly the Disabled Pony from Hurricane Katrina
Meet Molly. She's a gray speckled pony who was abandoned by her owners when Katrina hit southern Louisiana , USA . She spent weeks on her own before finally being rescued and taken to a farm where abandoned animals were stockpiled. While there, she was attacked by a pit bull terrier, and almost died. Her gnawed right front leg became infected and her vet went to LSU for help. But LSU was overwhelmed, and this pony was a welfare case. You know how that goes.But after surgeon Rustin Moore met Molly, he changed his mind. He saw how the pony was careful to lie down on different sides so she didn't seem to get sores, and how she allowed people to handle her. She protected her injured leg. She constantly shifted her weight, and didn't overload her good leg. She was a smart pony with a serious survival ethic.
Moore agreed to remove her leg below the knee and a temporary artificial limb was built. Molly walked out of the clinic and her story really! begins there.
'This was the right horse and the right owner,' Moore insists. Molly happened to be a one in a million patient. She's tough as nails, but sweet, and she was willing to cope with pain. She made it obvious she understood (that) she was in trouble. The other important factor, according to Moore , is having a truly committed and compliant owner who is dedicated to providing the daily care required over the lifetime of the horse.
Molly's story turns into a parable for life in post-Katrina Louisiana . The little pony gained weight, her mane felt a comb. A human prosthesis designer built her a leg.The prosthetic has given Molly a whole new life, Allison Barca DVM, Molly's regular vet, reports. She asks for it! She will put her little limb out, and come to you and let you know that she wants you to put it on. Sometimes she wants you to take it off too.' Sometimes, Molly gets away from Barca. 'It can be pretty bad when you can't catch a three-legged horse', she laughs.
Most important of all, Molly has a job now.
Kay, the rescue farm owner, started taking Molly to shelters, hospitals, nursing homes, rehabilitation centers. Anywhere she thought that people needed hope. Wherever Molly went, she showed people her pluck. She inspired people. And she had a good time doing it.
'It's obvious to me that Molly had a bigger role to play in life', Moore said, 'She survived the hurricane, she survived a horrible injury, and now she is giving hope to others.''She's not back to normal,' Barca concluded, 'but she's going to be better. To me, she could be a symbol for New Orleans itself.'
Labels: disabled people, inspiration, pets
Monday, May 19, 2008
Recognizing Excellence in Our Children
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