What if a person is just tired of paying for cable and countless stations that are available that we never watch and want to get local channels that now with a convertor box will be clearer to recieve? go for it? I think so, any other opinions? Thanks, Joel.
Good point about showers and housewarming, Philip. I would say it's housewarming that's going to the wayside, but certainly not bridal showers or wedding gifts!
I wasn't exaggerating when I said that couples I know who have been living together for 5+ years will still have two or three bridal showers. While I understand that it's a rite of passage, it seems like a bit much.
When my best finally sets a date (she's been living with her fiance for almost ten years), she doesn't want a shower for that reason. They live frugally, but they have all they need. I plan to throw her one anyway... And instead of gifts ask people to make a contribution to their honeymoon. The one thing they can't afford to do is travel.
Any information you have on the subject would be much appreciated. I've recently been browsing the foreclosure listings on various websites and am looking to pay cash for a bank-owned/REO home in foreclosure. I wonder, does the process work the same as paying cash for a non-foreclosure property? (I'm aware of the risks involved such as the need for repairs and renovations). What I'm wondering is whether the process is otherwise hassle-free? I mean, as long as I have the cash, can I purchase the house from the bank? No special condition, no credit checks, etc?
Here in So-Cal local strawberries will go on sale for $1 a carton in the right time of the season... I love strawberries so last time I bought four containers, but couldn't eat them quite quick enough so I rinsed them and froze them...
Best Popsicles I have EVER had! Leaving the green leafy caps on makes them easy to hold, theyre naturally really sweet, and perfect to eat on a hot day instead of icecream!!
I'm happy to say that I haven't heard of a single one of these, despite the fact that they all sound very interesting. And I'm definitely going to try and track down my own copy of the "Made it Myself" Encyclopedia, that sounds too good to pass up!
I wonder what "rural" is by your definition? I live in a small town about an hour away from Oklahoma City, OK. It's a College town with about 55,000 or so people in it, if you include the college kids who are here about 9-10 months out of the year.
It may be sort of off topic but we are growing like weeds in this community. Everyday it seems as though there is another shopping center opening up here. There are two Walmarts and a Target and gobs of expensive housing additions and more being built. I see the city bus transit all over the place (with the exception of the outer lying areas of town). This could be because the state of Oklahoma actually has a booming economy w/ a positive growth when compared with the rest of the country. (This is in part due to the fact that we are an energy state and generally are not part of the national "bubbles" that our economy experiences and are therefore buffered from the "bursts")
My point is that not all "rural" type areas are subject to these economic forces and therefore not everyone of us needs to move to the big city. Personally I live in what I believe to be a wonderful community with all the positives of a big city ( culture, diversity, opputunity) and none of the negitives (crime, ect...)
How did I miss this? Oh yeah... I'm kind of technologically lame. But I'm adding this in to my list of subs to ask the library for. Thanks so much for sharing!
ing is not being able to live and work where one grew up. I just got back home from a six week visit to my homeland of southern California. I cannot afford to live comfortably or uncomfortably for that matter in the city I grew up in and my husband (who hails from the Ocean Park neighborhood of Santa Monica) would have to make milllions to afford to live on the street he grew up on. Should we (especially we Californians in high priced California) divorce ourselves from our geography, our families, our friends because by and large we cannot afford our collective past? What does it mean for a community or a city when no one born and raised there can live there?
I think I found out about ReadyMade (have a subscription) and Make (husband's favorite) by virtue of Bust Magazine. which always has a good deal of DIY articles (the publisher also does the Stitch n Bitch books). Other thing I LOVE about Bust is that there are so many ads from DIY websites and various small time artists and artisans to check out.
My mom's only offer on the small townhome she and my dad bought shortly before he died was one of these loans.
Except the 'donation' had to be made in the BUYERS name, not the sellers, so she doesn't even get a tax deduction for it.
In this market she had no choice but to take the offer. (For less than the loan-payoff even before a $10K 'donation'). My family is not well-to-do, this cost a chunk of her savings that she could have used.
My brother and I suspected a scam but the both the lawyer my mom consulted and a realtor not associated with the sale assured us it was legal.
No one in these posts has yet considered this: if the minimum wage were abolished, what effect would it have on the wage groups who are making slightly more than minimum? Can you seriously believe that the American business community would balk at dropping wages for hourly workers accross the board once the floor is cut away from the current wage structure? After all, if a employer can find some schmucks to take less money then his current staff for the same jobs, the lack of a basement level wage would put huge pressure on him to cut pay scales again and again, knowing his competition will likely be ahead of him. In the 21st century, with the economy already reeling from a lack of basic stability, this is no time to start experimenting with a "race-to-the bottom" economic theory........
I think there are also thresholds where increasing your standard of living actually will make you happy but things beyond that probably won't. Moving out of the neighborhood that the police showed up at least once a week due to other people in the neighborhood firing guns, letting aggressive dogs run the neighborhood or domestic fights certainly increased our happiness and quality of life. We now live in a cookie cutter subdivision, moving up to a McCastle neighborhood would not increase our happiness or quality of life. So there are some of those steps up that matter more than others.
I also think this point doesn't get enough attention when people look at the long term quality of life.
"Durable items (bed, chair, pots and pans, TV) can be purchased once and then add to your standard of living for years to come."
So many people buy furniture at Walmart, Kmart or Target and most of it is made poorly out of particle board and laminates. Even some of the real furniture stores are selling nice looking furniture that has composite cores with some high quality plastic wood finishes that look very real. One that really shocked me was at a scratch & dent furniture warehouse. It was one of those huge heavily carved 4 post beds. It looked like high quality wood and I had seen one almost identical to it going for over $2500 at Macy's. The one at the warehouse had a chunk taken out of the headboard. This exposed the construction. It was molded particle board. All the carving was part of the molding process. It then had a very realistic looking sort of shrink wrap type laminate coating on the outside to look like wood. All of these pieces of furniture will not last a lifetime. If they last 10 years your lucky. This kind of thing has a huge negative impact on someone's long term improvement of their standard of living.
Now add that same situation to almost all of your durable goods.
You're right its half based on the numbers so far this year. In my bank its 66% of FHA loans have used down payment assistance from sellers. This is gonna be a killer and most people are such sheep they don't even see what is coming their way.
I really wish it had pasted exactly like what I pulled it off of because it shows that like I said in the years with the sharpest increase in seller funded dp the foreclosures fell. Both years. It also shows that when seller funded transactions hit 32.78% that the foreclosure percentage was about the same as its ALWAYS been at which was 1.21%. If when the percentage of seller funded transactions was only 1.74% of new home sales and the foreclosure rate after 24 months was 1.71% and when it rose to 33.09% in 2005 the 24 month foreclosure rate was 1.87% and for the 12 month foreclosure rate it was 1.08%. Explain to me again how seller funded down payment assistance caused a higher rate of foreclosure.
I'm all for doing away with seller funds down payment if FHA can prove they've caused more foreclosures. I've worked in the mortgage industry for about 15 years so folks spare me the rubbish you've heard on the news. I'm looking right now at the real numbers. I don't have a dog in this hunt I've only done a handful of these things because I don't like fooling with residential anymore. However I've watched this closely because I do understand trickle down economics and how many businesses and potential homeowners this will squash. Because like the programs or not I can understand the big picture. Here's an actual table of the real foreclosure numbers:
Percentage Of Loans In Foreclosure
FHA
Fiscal Year
Dec. 31 One Year Later
Dec. 31 Two Years Later
Dec 31 Three Years Later
Percentage Of Loans Using SFDPA
First column is the year obviously, second is the foreclosure rate one year later, the third is two years later, the fourth is three years later, and the last column is the percentage of FHA loans using seller funded down payment assistance - just in case cutting and pasting it didn't give it enough room. The years with the steepest increase in seller funded down payment assistance there was a decline in foreclosure rates. Use your brain genius if the person has more money in the bank their likelihood of making their payments increases not decreases. I will say that not one customer I ever used a grant for, NOT ONE in 15 years has defaulted. However, I've had plenty overextend and put a ton of money down and then unforeseen circumstances (lay-offs, death of a spouse, one guy's wife had a stroke and they were in their 20's so they were ill prepared insurance wise)cause foreclosure. In one case a couple put $10,000 of their own funds in and never made a payment and couldn't refinance out or sell in time because they were in a 97% loan. Don't kid yourself folks there's no difference in today's market in 97% and 100% - you're stuck no matter how you look at it or who gave you a down payment. The so called community development grants from the government hog tie the feet of these low income borrowers to properties that usually aren't so great to start with. These down payment assistance charities came along and gave customers more freedom in a govy loan and it was praised and well received. Most of these companies do operate as charities and give back, granted there are some scam artist out there. I watched the lawsuits over the years pretty closely - since the outcome will have a huge impact on my customers and the economy. I myself bought my first home with an Ameridream grant and had the house paid off within three years. In the last two attempts from HUD to shut these companies down both judges stated they were only given "anecdotal evidence but no real data" proving their points and the judges threw the lawsuits out.
Not only is the fallout from this going to cause a $60 billion hit to the economy in new home sales (yes that's the real number if not higher) in the first year. The low figure is 20,000 homes a month. Don't kid yourself folks realtors will just go back to the olden days of parking lot transactions rather than lose 20,000 new home sales a month. That's enough to keep me up at night with my toes clenched. In my state alone one of my largest clients is the state's largest builder who utilizes these programs and he told me this week this will shut him down. Which means of the 1500 folks that work for him they'll be jobless by Christmas. So guess what they won't be doing? Spending money - further hitting the economy. I estimate between the mortgage industry, the down payment industry, realtors, builders, construction, landscaping, etc. more than 10,000 folks will lose their jobs around November. That's just in my state. I spoke with the processing department at the largest retail operation center in the nation yesterday and she told me half of her people will be let go because they just won't need them if the down payment assistance grants go away. The government threw the baby out with the bath water here and that was one of the most idiotic moves I've seen in a while. They could have limited the programs or given a pricing adjustment to loans that use them or how about made the MI premium higher on these all the while phasing them out. Duh..but to chop it off was a bad bad move. Sam, I understand you don't like the programs I understand your point of view but I think you've only gotten information you've read on the internet or in the newspapers. The real information I've seen doesn't prove anything about down payment assistance causing foreclosure. The only thing I've seen is that HUD has had a bee in their bonnet for years about it and finally figured out a way to get their way - tuck it in a bill they knew had to pass. Most of the legislators even Nancy Pelosi went on record saying they knew this was going to have dire effects on mainly minorities but they had to pass the bill hoping to get the chance to reintroduce seller funded down payment assistance soon. Hope they move fast cause they only have til October 1st.
I think the real underlying change that makes these events seem less relevant now than in the past is that we in western countries are so rich and stuff has gotten so cheap. Even a poor student can afford the basics of a household (bed, chair, linens, pot, pan, some plates and glasses and tableware).
My take is that the social changes (people setting up their own household early and living together early) share the same underlying cause--people do them because they can afford to.
Three reasons why I will leave America when I retire:
1. The socialist housing market.
2. Obama and the Dems planning to double the capital gains tax on investors, and tax retirement funds.
3. The open border with Mexico.
It's hell to live in America when you are a responsible person who plays by the rules. It's become what I call a "socialist caste system", where homeowners reign supreme while they bleed the country dry.
I think we all have seen people who have way too much money but are miserable. I think we need to have a purpose. The world is changing and many people need help. My thought is every family should have a goal of giving back whether it is financially or by doing volunteer work.
I get so confused when people say it is not a good idea to pay off your mortgage. Why not? Save a few dollars at tax time each year is that the reasoning? I don't know but anyway I believe the United First and the others that teach to pay down/off your mortgage are great! They understand that if you have discretionary income that it is much much easier to get rid of your mortgage without doing anything so special. Once you learn the system though, I do agree it can't be that hard to accomplish on your own and pocket your $3500 bucks. Pimp that money yourself and work the system once you totally understand and map out how it really works. I personally would not pay my mortgage completely off but I don't quite understand why it's a terrible idea. Help me.
I had not heard of this leveling out concept until a few years ago from someone who has a nice primary residence, vacation home, and children in very expensive private schools. I had never thought of living my life that way even though it likely works for him; it's just not something that I would choose--spending can be nearly unlimited in this model.
I have seen others increase their standards of living in rather foolish ways, that is buying a new, tremendously large home after one or two good earning years or rather smartly, saving for many years, living below that person's supposed standard and then having enough in savings to support a higher level of living in the big house; or keeping the smaller house but using discretionary funds for vacations or dining out or the latest model car. I like the last model the best -- you can always postpone the European vacation but you can't postpone the mortgage payment.
It's funny that you mentioned structures like house warming parties and bridal showers that are supposed to "help" with transitions. I think this rituals are outdated!
For example, most couples I know lived together before they got married, or the two spouses had their own established homes they had to combine. I think it's tacky to ask someone to shell out for multiple bridal showers and then a wedding gift when the couple has everything they need. It doesn't seem right to me.
And because more and more people are living on their own before marriage, they aren't getting the transitional help they need because there isn't a gift-giving occasion to go with it.
And all the showers and gifts doesn't make anyone the happier. It doesn't make any sense to me.
and the quality of service you get with ANY customer care rep is dependent on the attitude that you take with them as soon as you answer the phone. If you start with a classy call opener like "Hi? Hello? FINALLY. Alright this is what's wrong with my phone, and this is what's going to get done with it", AT&T WILL treat you like crap. Speak sympathetically to explain your issue, they'll work with you. Reps are taught how to handle rude and unruly customers.
Second, .25/min is not the plan most people on prepaid would've gotten. We try NOT to offer that plan to anyone, but it seems your wife ended up on the plan regardless. She may have requested it or had a portibg agent set it up for her.
Third, porting a number is something that relies HEAVILY on the carrier that has your number. AT&T can't do anything unless Virgin Mobile answers the port request. They may have been transferring you around until your old carrier made a move, so that one's not on AT&T.
You've got to read the manual (and maybe the terms and conditions) before you start ANY service because you can't complain about the prices after opting to sign up for the service. The information's all there to read if you're interested.
Incidentally, it costs 1.79 to call 411 on AT&T's wireless prepaid network (it's prepaid, so no unlimited informational services dialing), so it's no small wonder that call was expensive.
Great point on "quality of life." Some would argue that Americans have a much lower quality of life than other countries existing on 1/10th what we make.
However, one more point...quality of life should include the ability to afford medical care. Many families I know have skipped medical care for illnesses and injuries because they simply cannot afford it.
It won't matter if universal health insurance is available to everyone if lower income families can't afford the co-pay.
As an example, I've been told I need a knee replacement. However, since the surgery will result in an approximate $2,000 co-pay and $200 for each physical therapy visit (not covered), it's not an option for us right now. Health insurance doesn't guarantee health coverage.
What if a person is just tired of paying for cable and countless stations that are available that we never watch and want to get local channels that now with a convertor box will be clearer to recieve? go for it? I think so, any other opinions? Thanks, Joel.
Good point about showers and housewarming, Philip. I would say it's housewarming that's going to the wayside, but certainly not bridal showers or wedding gifts!
I wasn't exaggerating when I said that couples I know who have been living together for 5+ years will still have two or three bridal showers. While I understand that it's a rite of passage, it seems like a bit much.
When my best finally sets a date (she's been living with her fiance for almost ten years), she doesn't want a shower for that reason. They live frugally, but they have all they need. I plan to throw her one anyway... And instead of gifts ask people to make a contribution to their honeymoon. The one thing they can't afford to do is travel.
Any information you have on the subject would be much appreciated. I've recently been browsing the foreclosure listings on various websites and am looking to pay cash for a bank-owned/REO home in foreclosure. I wonder, does the process work the same as paying cash for a non-foreclosure property? (I'm aware of the risks involved such as the need for repairs and renovations). What I'm wondering is whether the process is otherwise hassle-free? I mean, as long as I have the cash, can I purchase the house from the bank? No special condition, no credit checks, etc?
Here in So-Cal local strawberries will go on sale for $1 a carton in the right time of the season... I love strawberries so last time I bought four containers, but couldn't eat them quite quick enough so I rinsed them and froze them...
Best Popsicles I have EVER had! Leaving the green leafy caps on makes them easy to hold, theyre naturally really sweet, and perfect to eat on a hot day instead of icecream!!
Think i'll dip the tips in chocolate next time.
I'm happy to say that I haven't heard of a single one of these, despite the fact that they all sound very interesting. And I'm definitely going to try and track down my own copy of the "Made it Myself" Encyclopedia, that sounds too good to pass up!
I wonder what "rural" is by your definition? I live in a small town about an hour away from Oklahoma City, OK. It's a College town with about 55,000 or so people in it, if you include the college kids who are here about 9-10 months out of the year.
It may be sort of off topic but we are growing like weeds in this community. Everyday it seems as though there is another shopping center opening up here. There are two Walmarts and a Target and gobs of expensive housing additions and more being built. I see the city bus transit all over the place (with the exception of the outer lying areas of town). This could be because the state of Oklahoma actually has a booming economy w/ a positive growth when compared with the rest of the country. (This is in part due to the fact that we are an energy state and generally are not part of the national "bubbles" that our economy experiences and are therefore buffered from the "bursts")
My point is that not all "rural" type areas are subject to these economic forces and therefore not everyone of us needs to move to the big city. Personally I live in what I believe to be a wonderful community with all the positives of a big city ( culture, diversity, opputunity) and none of the negitives (crime, ect...)
Some people are downwardly mobile, that has to suck.
How did I miss this? Oh yeah... I'm kind of technologically lame. But I'm adding this in to my list of subs to ask the library for. Thanks so much for sharing!
Linsey Knerl
ing is not being able to live and work where one grew up. I just got back home from a six week visit to my homeland of southern California. I cannot afford to live comfortably or uncomfortably for that matter in the city I grew up in and my husband (who hails from the Ocean Park neighborhood of Santa Monica) would have to make milllions to afford to live on the street he grew up on. Should we (especially we Californians in high priced California) divorce ourselves from our geography, our families, our friends because by and large we cannot afford our collective past? What does it mean for a community or a city when no one born and raised there can live there?
Margaret Garcia-Couoh
I think I found out about ReadyMade (have a subscription) and Make (husband's favorite) by virtue of Bust Magazine. which always has a good deal of DIY articles (the publisher also does the Stitch n Bitch books). Other thing I LOVE about Bust is that there are so many ads from DIY websites and various small time artists and artisans to check out.
Margaret Garcia-Couoh
Make magazine is another to be included on this list.
http://www.makezine.com/
My mom's only offer on the small townhome she and my dad bought shortly before he died was one of these loans.
Except the 'donation' had to be made in the BUYERS name, not the sellers, so she doesn't even get a tax deduction for it.
In this market she had no choice but to take the offer. (For less than the loan-payoff even before a $10K 'donation'). My family is not well-to-do, this cost a chunk of her savings that she could have used.
My brother and I suspected a scam but the both the lawyer my mom consulted and a realtor not associated with the sale assured us it was legal.
No one in these posts has yet considered this: if the minimum wage were abolished, what effect would it have on the wage groups who are making slightly more than minimum? Can you seriously believe that the American business community would balk at dropping wages for hourly workers accross the board once the floor is cut away from the current wage structure? After all, if a employer can find some schmucks to take less money then his current staff for the same jobs, the lack of a basement level wage would put huge pressure on him to cut pay scales again and again, knowing his competition will likely be ahead of him. In the 21st century, with the economy already reeling from a lack of basic stability, this is no time to start experimenting with a "race-to-the bottom" economic theory........
I think there are also thresholds where increasing your standard of living actually will make you happy but things beyond that probably won't. Moving out of the neighborhood that the police showed up at least once a week due to other people in the neighborhood firing guns, letting aggressive dogs run the neighborhood or domestic fights certainly increased our happiness and quality of life. We now live in a cookie cutter subdivision, moving up to a McCastle neighborhood would not increase our happiness or quality of life. So there are some of those steps up that matter more than others.
I also think this point doesn't get enough attention when people look at the long term quality of life.
"Durable items (bed, chair, pots and pans, TV) can be purchased once and then add to your standard of living for years to come."
So many people buy furniture at Walmart, Kmart or Target and most of it is made poorly out of particle board and laminates. Even some of the real furniture stores are selling nice looking furniture that has composite cores with some high quality plastic wood finishes that look very real. One that really shocked me was at a scratch & dent furniture warehouse. It was one of those huge heavily carved 4 post beds. It looked like high quality wood and I had seen one almost identical to it going for over $2500 at Macy's. The one at the warehouse had a chunk taken out of the headboard. This exposed the construction. It was molded particle board. All the carving was part of the molding process. It then had a very realistic looking sort of shrink wrap type laminate coating on the outside to look like wood. All of these pieces of furniture will not last a lifetime. If they last 10 years your lucky. This kind of thing has a huge negative impact on someone's long term improvement of their standard of living.
Now add that same situation to almost all of your durable goods.
You're right its half based on the numbers so far this year. In my bank its 66% of FHA loans have used down payment assistance from sellers. This is gonna be a killer and most people are such sheep they don't even see what is coming their way.
I really wish it had pasted exactly like what I pulled it off of because it shows that like I said in the years with the sharpest increase in seller funded dp the foreclosures fell. Both years. It also shows that when seller funded transactions hit 32.78% that the foreclosure percentage was about the same as its ALWAYS been at which was 1.21%. If when the percentage of seller funded transactions was only 1.74% of new home sales and the foreclosure rate after 24 months was 1.71% and when it rose to 33.09% in 2005 the 24 month foreclosure rate was 1.87% and for the 12 month foreclosure rate it was 1.08%. Explain to me again how seller funded down payment assistance caused a higher rate of foreclosure.
I'm all for doing away with seller funds down payment if FHA can prove they've caused more foreclosures. I've worked in the mortgage industry for about 15 years so folks spare me the rubbish you've heard on the news. I'm looking right now at the real numbers. I don't have a dog in this hunt I've only done a handful of these things because I don't like fooling with residential anymore. However I've watched this closely because I do understand trickle down economics and how many businesses and potential homeowners this will squash. Because like the programs or not I can understand the big picture. Here's an actual table of the real foreclosure numbers:
Percentage Of Loans In Foreclosure
FHA
Fiscal Year
Dec. 31 One Year Later
Dec. 31 Two Years Later
Dec 31 Three Years Later
Percentage Of Loans Using SFDPA
2000 0.91% 1.71% 1.82% 1.74%
2001 1.05% 1.86% 1.53% 4.92%
2002 1.08% 1.54% 1.24% 9.18%
2003 1.19% 1.44% 1.23% 18.40%
2004 1.14% 1.41% 1.44% 27.19%
2005 1.08% 1.87% 33.09%
2006 1.21% 32.78%
First column is the year obviously, second is the foreclosure rate one year later, the third is two years later, the fourth is three years later, and the last column is the percentage of FHA loans using seller funded down payment assistance - just in case cutting and pasting it didn't give it enough room. The years with the steepest increase in seller funded down payment assistance there was a decline in foreclosure rates. Use your brain genius if the person has more money in the bank their likelihood of making their payments increases not decreases. I will say that not one customer I ever used a grant for, NOT ONE in 15 years has defaulted. However, I've had plenty overextend and put a ton of money down and then unforeseen circumstances (lay-offs, death of a spouse, one guy's wife had a stroke and they were in their 20's so they were ill prepared insurance wise)cause foreclosure. In one case a couple put $10,000 of their own funds in and never made a payment and couldn't refinance out or sell in time because they were in a 97% loan. Don't kid yourself folks there's no difference in today's market in 97% and 100% - you're stuck no matter how you look at it or who gave you a down payment. The so called community development grants from the government hog tie the feet of these low income borrowers to properties that usually aren't so great to start with. These down payment assistance charities came along and gave customers more freedom in a govy loan and it was praised and well received. Most of these companies do operate as charities and give back, granted there are some scam artist out there. I watched the lawsuits over the years pretty closely - since the outcome will have a huge impact on my customers and the economy. I myself bought my first home with an Ameridream grant and had the house paid off within three years. In the last two attempts from HUD to shut these companies down both judges stated they were only given "anecdotal evidence but no real data" proving their points and the judges threw the lawsuits out.
Not only is the fallout from this going to cause a $60 billion hit to the economy in new home sales (yes that's the real number if not higher) in the first year. The low figure is 20,000 homes a month. Don't kid yourself folks realtors will just go back to the olden days of parking lot transactions rather than lose 20,000 new home sales a month. That's enough to keep me up at night with my toes clenched. In my state alone one of my largest clients is the state's largest builder who utilizes these programs and he told me this week this will shut him down. Which means of the 1500 folks that work for him they'll be jobless by Christmas. So guess what they won't be doing? Spending money - further hitting the economy. I estimate between the mortgage industry, the down payment industry, realtors, builders, construction, landscaping, etc. more than 10,000 folks will lose their jobs around November. That's just in my state. I spoke with the processing department at the largest retail operation center in the nation yesterday and she told me half of her people will be let go because they just won't need them if the down payment assistance grants go away. The government threw the baby out with the bath water here and that was one of the most idiotic moves I've seen in a while. They could have limited the programs or given a pricing adjustment to loans that use them or how about made the MI premium higher on these all the while phasing them out. Duh..but to chop it off was a bad bad move. Sam, I understand you don't like the programs I understand your point of view but I think you've only gotten information you've read on the internet or in the newspapers. The real information I've seen doesn't prove anything about down payment assistance causing foreclosure. The only thing I've seen is that HUD has had a bee in their bonnet for years about it and finally figured out a way to get their way - tuck it in a bill they knew had to pass. Most of the legislators even Nancy Pelosi went on record saying they knew this was going to have dire effects on mainly minorities but they had to pass the bill hoping to get the chance to reintroduce seller funded down payment assistance soon. Hope they move fast cause they only have til October 1st.
K Johnson
I think the real underlying change that makes these events seem less relevant now than in the past is that we in western countries are so rich and stuff has gotten so cheap. Even a poor student can afford the basics of a household (bed, chair, linens, pot, pan, some plates and glasses and tableware).
My take is that the social changes (people setting up their own household early and living together early) share the same underlying cause--people do them because they can afford to.
Three reasons why I will leave America when I retire:
1. The socialist housing market.
2. Obama and the Dems planning to double the capital gains tax on investors, and tax retirement funds.
3. The open border with Mexico.
It's hell to live in America when you are a responsible person who plays by the rules. It's become what I call a "socialist caste system", where homeowners reign supreme while they bleed the country dry.
I think we all have seen people who have way too much money but are miserable. I think we need to have a purpose. The world is changing and many people need help. My thought is every family should have a goal of giving back whether it is financially or by doing volunteer work.
I get so confused when people say it is not a good idea to pay off your mortgage. Why not? Save a few dollars at tax time each year is that the reasoning? I don't know but anyway I believe the United First and the others that teach to pay down/off your mortgage are great! They understand that if you have discretionary income that it is much much easier to get rid of your mortgage without doing anything so special. Once you learn the system though, I do agree it can't be that hard to accomplish on your own and pocket your $3500 bucks. Pimp that money yourself and work the system once you totally understand and map out how it really works. I personally would not pay my mortgage completely off but I don't quite understand why it's a terrible idea. Help me.
I had not heard of this leveling out concept until a few years ago from someone who has a nice primary residence, vacation home, and children in very expensive private schools. I had never thought of living my life that way even though it likely works for him; it's just not something that I would choose--spending can be nearly unlimited in this model.
I have seen others increase their standards of living in rather foolish ways, that is buying a new, tremendously large home after one or two good earning years or rather smartly, saving for many years, living below that person's supposed standard and then having enough in savings to support a higher level of living in the big house; or keeping the smaller house but using discretionary funds for vacations or dining out or the latest model car. I like the last model the best -- you can always postpone the European vacation but you can't postpone the mortgage payment.
It's funny that you mentioned structures like house warming parties and bridal showers that are supposed to "help" with transitions. I think this rituals are outdated!
For example, most couples I know lived together before they got married, or the two spouses had their own established homes they had to combine. I think it's tacky to ask someone to shell out for multiple bridal showers and then a wedding gift when the couple has everything they need. It doesn't seem right to me.
And because more and more people are living on their own before marriage, they aren't getting the transitional help they need because there isn't a gift-giving occasion to go with it.
And all the showers and gifts doesn't make anyone the happier. It doesn't make any sense to me.
and the quality of service you get with ANY customer care rep is dependent on the attitude that you take with them as soon as you answer the phone. If you start with a classy call opener like "Hi? Hello? FINALLY. Alright this is what's wrong with my phone, and this is what's going to get done with it", AT&T WILL treat you like crap. Speak sympathetically to explain your issue, they'll work with you. Reps are taught how to handle rude and unruly customers.
Second, .25/min is not the plan most people on prepaid would've gotten. We try NOT to offer that plan to anyone, but it seems your wife ended up on the plan regardless. She may have requested it or had a portibg agent set it up for her.
Third, porting a number is something that relies HEAVILY on the carrier that has your number. AT&T can't do anything unless Virgin Mobile answers the port request. They may have been transferring you around until your old carrier made a move, so that one's not on AT&T.
You've got to read the manual (and maybe the terms and conditions) before you start ANY service because you can't complain about the prices after opting to sign up for the service. The information's all there to read if you're interested.
Incidentally, it costs 1.79 to call 411 on AT&T's wireless prepaid network (it's prepaid, so no unlimited informational services dialing), so it's no small wonder that call was expensive.
Great point on "quality of life." Some would argue that Americans have a much lower quality of life than other countries existing on 1/10th what we make.
However, one more point...quality of life should include the ability to afford medical care. Many families I know have skipped medical care for illnesses and injuries because they simply cannot afford it.
It won't matter if universal health insurance is available to everyone if lower income families can't afford the co-pay.
As an example, I've been told I need a knee replacement. However, since the surgery will result in an approximate $2,000 co-pay and $200 for each physical therapy visit (not covered), it's not an option for us right now. Health insurance doesn't guarantee health coverage.
I hope the next administration recognizes this.