POVERTY ? Speak for yourself

sxc.hu 

Sept. 16, 2010 -  The government announces that almost 1/2 of the nation does not pay taxes, they are considered in the poverty level. With the rising poverty level and  the policies of the administration and congress it looks to be another lean few years. Sure on in 7 Americans are in poverty. We are technically one of those Americans affected by the poverty numbers. WE are not in poverty really - we ARE temporarily broke and looking forward to the future.  

I agree with Limbaugh in the audio clip below  that there is no excuse.   

If you follow this blog you know that we  have foreclosure looming on our minds 24/7.  Can't afford a lawyer  for fighting our foreclosure.  So we did what our parents and grandparents taught us - rolled up our sleeves and tackle the job ourselves. My favorite picture of my dad is the one of a hole in his shoe - reflecting his hard work.  He kept that picture to remind himself of how his hard work had paid off and what he did to achieve his goals in life. There is nothing wrong with hard work. 

The Government can tell us we are in poverty all they want.  I disagree, we are only temporarily poor. We knew we didn't have much to spare long before they informed us of this new status.   BUT;WE still have cell phones for working, and are able to  conduct business.  WE  still have 2 vehicles, with over 200K on them, and are conducting business which should bring us out of the situation  someday.   Sure we go without cable, without steak and more often than not the  fabric softener runs out.  AS long as we have TP, eggs and bread we are okay. 

Trips to visit family except in extremist of emergencies are out of the question and even then  donations are needed. Christmas is coming but the goose is nowhere near fat. Thank goodness we established long ago that store bought expensive gifts are no measure of love. 

We both work hard.  Probably harder than some people that are working regular jobs. Looking at the jobs around and the unemployment  numbers, I dont' think we would be better off in any other way. So we work hard, and fight the foreclosure  hard, and pray for a miracle.  We watch for new opportunities and take them.   Listening to the news is depressing -   If the government gets its act together, so that consumer confidence returns, fraud is dealt with and jobs are regained then we will thrive.  As one of my acquaintences said: 'I am looking around and anyone in office today better have a damned good platform for running again.  Almost every bum in office is going to get voted out by me for sure.  They need to address policies that are GOOD for America and not for special interests." 


Of course in two months we could be the people in that picture above. There is a saying that we are all only two checks away from being homeless.   I think its a bit more but the principle sounds right. If you have a job start saving as much as you can now! 


Today just minutes ago the President said: 

"Because of the recovery act and many other programs providing tax relief and income support to a majority of working families - and especially those most in need - millions of Americans were kept out of poverty last year,"  Obama . more by Barack Obama  WHAT DO YOU THINK?

Here are some news tidbits for your clicking pleasure,  and a video by Rush about poverty issues. 


(WSJ has tomorrows headline today!) 

Wealth and Poverty

How's that inequality thing working out?

Poverty Rate Jumps in 2009 to 1994 Level

Recession sent millions more into poverty, census finds

Poll: Obama Approval Rating Mixed, but Most See No Economic Progress

Video report : 50% of Valley homes underwater

Real estate experts: 50% of Valley homes underwater: "PHOENIX - It's another sign of the troubling times in the Phoenix area housing market.

Several real estate experts agree that more than 50% of homeowners in the Valley are underwater.

“There have been other reports they even have worse numbers, 66-67%,” said Dr. Jay Butler, director of realty studies at Arizona State University.

“I think most people thought by now we'd at least be working our way through the problem but it seems to be getting a little worse,” said Butler.

With more people walking away from their homes, the val" >>>READ ENTIRE ARTICLE BY CLICKING TITLE LINK ABOVE

Brand new today SEPT 8 2010 New FHA Mortgage Refinance Program Aimed at 11 Million Homeowners Underwater - Real Estate Channel Global News Center

New FHA Mortgage Refinance Program Aimed at 11 Million Homeowners Underwater - Real Estate Channel Global News Center: "About 1.5 million of the 11 million U.S. homeowners who owe more on their mortgage than their home is worth could be catching a break shortly.

A new Federal Home Administration refinance program kicked off Tuesday, Sept.7.

The government has earmarked $14 billion in Troubled Asset Relief Program (TARP) funds to support the program.

The latest data from CoreLogic shows that some 11 million borrowers were in a negative equity position as of the end of June, reports DSNews.com. That equates to 23 percent of all U.S. residential properties with a mortgage."

To facilitate the refinancing of new FHA-insured loans under the program, the U.S. Department of Treasury says it will provide incentives to existing second lien holders who agree to "full or partial extinguishments" of the liens.

NOTE::: I Hope this helps more than their last help program for underwater homeowners. CHECK IT OUT FAST


photo credit: sxc.hu

Mortgage Problems? fraud? LUCKY YOU Seminar this weekend

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Saturday September 4th | Class from 9am to 6pm

Sunday September 5th | Mock Court |10 to 4

Speakers include:

John Stuart , William McCaffrey, Darrell Blomberg, and Cynthia Cantrell

www.showmetheloan.net

Learn why and how You NEVER received a "LOAN" and the

Bank exchanged your PROMISSORY NOTE for the HOME

REGISTRATION

Please register as soon as possible so we can have enough refreshments and tables available for everyone s comfort. If you can t pay until you show up, just let us know you are coming for sure.

$275 DONATION

GROUP RATES: 2-5 $230 each, 6-10 $190 each

BARTERING CONSIDERED for financial hardship

Hotel registration is separate from registering for the seminar. Contact the Hotel directly for room reservations and tell them you are there for the seminar.

Special Room rates for seminar attendees

Contact the Millennium Resort Scottsdale McCormick Ranch

7401 North Scottsdale Road, Scottsdale, Arizona

People:
Donation Amount:

This seminar held to spread the word about the fraud committed by the banks. Donations are used for

research into how to stop the banks from stealing our homes.

Eight credit-repair tips after bankruptcy Jennifer Waters's Consumer Confidential - MarketWatch

With HOUSING continuing to tank, unemployment staying high and home values plunging - more and more people will be filing for Bankruptcy. Here is some info that might drive out the fear and help you save your home. REmember strategic default will now mean that you cannot get credit to buy a home for 7 years.

Eight credit-repair tips after bankruptcy Jennifer Waters's Consumer Confidential - MarketWatch:

"A growing number of consumers are taking the bankruptcy plunge. U.S. consumer bankruptcy filings for the year ended June 30 popped 21% to 1.51 million. Coupled with the nearly 60,000 business bankruptcies in the same period, filings reached a level not seen since 2005.

Some 422,061 bankruptcies were filed from April to June, pushing past the 400,000 mark for the first time since the fourth quarter of 2005. At that time, 667,431 bankruptcies were reported as consumers rushed to file before Congress changed the laws that tightened eligibility.

There's some good news for filers: There's no red 'B' written on your chest.

'Nowadays lenders pay greater attention to other factors,' Watts said. 'If you mind your Ps and Qs after the bankruptcy, you can restore your credit rating once the bankruptcy data finally falls off your credit report.'"

>>>>>KEEP READING by clicking on title link

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1 MILLION homes will be foreclosed on; are you next?

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Heard on the news today: We are on target to foreclose on 1 MILLION homes this year. That is 100,000 more than last year. (2009) It is estimated that it will take 3 years to clear the backlog of people defaulting on their loans.

According to the MSN Money Central report there are about 7.3 million homes in some state of delinquency.... the report also noted:

"Among states, Nevada posted the highest foreclosure rate in the first half of the year. One in every 17 households there received a foreclosure notice. However, foreclosures there are down 6 percent from a year earlier.

Arizona, Florida, California and Utah were next among states with the highest foreclosure rates. Rounding out the top 10 were Georgia, Michigan, Idaho, Illinois and Colorado."

There are new credit laws going into place which affect mortgages and also debit credit processing. Here a couple of highlights.

1) Now strict standards were in place during the years when underwriters started ignoring their own underwriting standards. They overvalued homes by 10% which added fuel to the fire of the housing market bubble.

NOW it is announced that there will be stricter standards and that better attention will be paid to income/payment ratios. One good thing will be better disclosures of what the maximum payment will be. Not just the interest, but the payment.

2) Merchants can now offer cash discounts for cash... Banking fees will be going up as free checking and cashback rewards disappear.

3) Banks will not be allowed to charge overdraft fees without your permission and agreement to do so. Sounds good especially if you were zapped by a bank that charges 8 bucks a day until the overdraft is resolved. I don't know how this new law will work out, but if banks handle it as they do other applications, they will simply make you agree in your contract, or you won't be able to get an account... What do you think?

2008 seems good: A historical look back

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Today I ran across this article from 2008....

The article from 2008 was predicting the rock bottom low in the market would occur in late 2009 or early 2010. According to the statement that inventory has to be much lower, well things aren't looking good around here. With predictions of another glut of foreclosures coming down the pike - well lets just say I would NOT buy a house in this market.

AT any rate it is interesting to look back and see what was being said in 2008.

If you are facing foreclosure please scroll down and look for information on a seminar that is coming to Phoenix July 10, 2010. Also the yahoo group on the right side column has lots of information and you can ask questions. Do not spam and try to read a few past posts to see if there are any answers for you.

WHAT DO YOU THINK about the housing market today?

Would you buy full price? Would you sell? Any predictions for the future? Is bank owned real estate taking over the world? Who are the landlords?

Foreclosures affect YOU : Upside down in your home?

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I ran across this interesting blogpost about how homes are increasingly going underwater in value. Basically showing the rise in foreclosures about 35%. It also estimated that home values will FALL with this glut of foreclosed homes on the market. More and more people will be stuck without the ability to sell their home to get out from under the loan.

Check out the post 23% of Homes Underwater and let me know what you think! I just heard from a friend that came home to a note on the door... isn't that sweet? Scroll down again to that video of the telphone call to BOA (BANK OF AMERICA) about HAMP (GOVERNMENT PROGRAM) ... This home help program could have helped her, BUT it was a loan owned by one of the major players that won't play ball fair and square. Call your senators!

So in exchange for the bailout supposedly helping homeowners we get:

FEW LOAN MODS

INCREASINGLY LOWERED PROPERTY VALUES

MORE HOMEOWNERS FACING FORECLOSURE

UPROOTED FAMILIES

DETERIORATING NEIGHBORHOODS

THIS AFFECTS EVERYONE