alisa
12-26 11:45 PM
Well, remove the threat by telling Clearly and unmistakably that use of nuclear weapon by Pakistan would invite catastrophic counter attack.
Don't you think Pakistan already knows that?
Otherwise what happens...Pak would keep taunting that " Hey, remember we have nukes...wanna pick a fight with us?" and keep doing what they are doing.
Do you mean to say that the state and the government of Pakistan did this?
Don't you think Pakistan already knows that?
Otherwise what happens...Pak would keep taunting that " Hey, remember we have nukes...wanna pick a fight with us?" and keep doing what they are doing.
Do you mean to say that the state and the government of Pakistan did this?
wallpaper hairstyles Eye Makeup Lesson:
nogc_noproblem
08-05 12:51 PM
A blonde was mowing her lawn when she accidentally cut off the tail of her cat...
which was hiding in the grass. She rushed her, along with the tail to the local Walmart.
Why Walmart???
Walmart is the largest retailer in the world!
which was hiding in the grass. She rushed her, along with the tail to the local Walmart.
Why Walmart???
Walmart is the largest retailer in the world!
sledge_hammer
06-25 08:04 AM
I agree with you 100%. These guys here are all getting worked up as if the world will come to an end in 2 years and it is unreasonable to think beyong 2011. A regular investor like us, someone w/ a job, one who saves in the bank, and/or dollar cost averages in a 401(K), should never think short term.
Let's see 10 years from now who will be in a better position - the guy who owned a home or a guy that is renting.
Of course, some guys will start complaining about GC, but then other posts here are claiming that regardless of GC, buying a house now is dissasterous.
Why are be debating 3 - 4 years rent vs own? As the subject indicates "long" term prospects of buying a home..we of all the ppl should know the meaning of the word "long" based on our "long" wait for PD (which I think should be renamed to retrogress date because I see nothing priority about it)..the point being lets debate 10 years rent vs own..as against 3-4...I think over a 10 year timeline the buyers would come out ahead of the renters..maybe not in CA but in other states that's quite likely..
Let's see 10 years from now who will be in a better position - the guy who owned a home or a guy that is renting.
Of course, some guys will start complaining about GC, but then other posts here are claiming that regardless of GC, buying a house now is dissasterous.
Why are be debating 3 - 4 years rent vs own? As the subject indicates "long" term prospects of buying a home..we of all the ppl should know the meaning of the word "long" based on our "long" wait for PD (which I think should be renamed to retrogress date because I see nothing priority about it)..the point being lets debate 10 years rent vs own..as against 3-4...I think over a 10 year timeline the buyers would come out ahead of the renters..maybe not in CA but in other states that's quite likely..
2011 makeup lessons, brown eyes
logiclife
02-21 11:31 AM
But he is definately worth laughing at. I bet this guy sends flowers to himself on Valentine's day. He is so much in awe of himself, its hilarious.
He wrote an entire column mostly about himself and now, suddenly there is a group of people called "Lou Dobbs Democrats"?????
He wrote an entire column mostly about himself and now, suddenly there is a group of people called "Lou Dobbs Democrats"?????
more...
unitednations
03-24 02:59 PM
Unitednations,
I read your replies and it seems you are ignoring some facts and are forming a one sided opinion.
-----------------------Not really; i have much more knowledge on this then everyone on these boards. I'm just hesitant of giving very specific examples as it will give some people more information then they need to know.
- Why did USCIS allow labor substitutions? Why did it take them so long to stop it? Why did they wait until after July 07 to stop it. Were they not allowing people to use this back door and lawyers to make money?
------------------labor subsitution issues seemed to be confined to a specific industry, specific people. People thought retrogression was going to go away. Did it go away? Main issue with EB is more people then # of greencards available. It may change the ordering but not the number of people going for greencard.
- If consulting is a problem, what were they doing in the past few years? What are they doing now? Do you think just a few raids once is enough to stop the problem? Why can't they enforce their own laws so that they punish the companies and not the immigrants.
------------------------------------they are your sponsorers. They are the reason why you are here. Without them; you are not here. If they are not following the laws the way uscis wants then they will make it difficult for them. They are going hard after them to directly go after you. Don't you guys understand that?
- Why is USCIS making paperwork difficult. Why can't the system be simple like Canada or Australia so that we can do our own paperwork? Why are lawyers in the picture?
-----------------------------Those systems are designed becasue they want people there. USA system is not designed for this. Increasingly; it is becoming apparent that uscis/government is becoming hostile towards immigration. Once; they determine they actually want people here then they'll make it easy.
- If they find problem in consulting, why are they not going after Tata, Wipro etc. Don't tell me these companies are clean?
--------------------------------------who says they are not going after them. they are all getting a healty case of denials. Main issue is they are thinking there is fraud in IT. IT is dominated by people from India. Kill staffing companies; then you kill h-1b.
- Why is USCIS so disorganized without good IT. Do you think other agencies are also same? Do you think USCIS does not have enough money?
---------------------------------------Problem is that with the myriads of laws and USCIS discretion in following laws; there is no perfect IT system since much of it is related to adjudicator discretion.
- Why can't they ban DV lottery? But go after H1Bs. You will say to do that law must be changed. But at least go strict on whom you approve once they are selected in the lottery. Are they not bringing lot of criminals, fanatics, unemployed and uneducated poor through DV.
-----------------------no idea. I do see that people talk about "highly skilled". There is no definition of "highly skilled" in immigration. Skilled worker is job that requires two years of experience. I bet just about every person coming through DV or family base would meet the definition of skilled worker in employment base sens.
- Why can't ICE do their job of enforcement and round up illegals. If they were strict we will not have so many illegals or the problem of illegals.
----------------------who says they are not. It is just a different perspective of what people think they should go after. Right now DOL is visiting consultants at their end client locations and interviewing them.
The questions will go on. But you need to step back and think more from the perspective of a applicant waiting for his GC or H1B .
I was one of you and I mainly deal with many of you guys. Unfortunately, people want to come into this country in many different ways and just because we want to; doesn't mean they are going to let us.
btw; see --------------------------------for my comments.
I read your replies and it seems you are ignoring some facts and are forming a one sided opinion.
-----------------------Not really; i have much more knowledge on this then everyone on these boards. I'm just hesitant of giving very specific examples as it will give some people more information then they need to know.
- Why did USCIS allow labor substitutions? Why did it take them so long to stop it? Why did they wait until after July 07 to stop it. Were they not allowing people to use this back door and lawyers to make money?
------------------labor subsitution issues seemed to be confined to a specific industry, specific people. People thought retrogression was going to go away. Did it go away? Main issue with EB is more people then # of greencards available. It may change the ordering but not the number of people going for greencard.
- If consulting is a problem, what were they doing in the past few years? What are they doing now? Do you think just a few raids once is enough to stop the problem? Why can't they enforce their own laws so that they punish the companies and not the immigrants.
------------------------------------they are your sponsorers. They are the reason why you are here. Without them; you are not here. If they are not following the laws the way uscis wants then they will make it difficult for them. They are going hard after them to directly go after you. Don't you guys understand that?
- Why is USCIS making paperwork difficult. Why can't the system be simple like Canada or Australia so that we can do our own paperwork? Why are lawyers in the picture?
-----------------------------Those systems are designed becasue they want people there. USA system is not designed for this. Increasingly; it is becoming apparent that uscis/government is becoming hostile towards immigration. Once; they determine they actually want people here then they'll make it easy.
- If they find problem in consulting, why are they not going after Tata, Wipro etc. Don't tell me these companies are clean?
--------------------------------------who says they are not going after them. they are all getting a healty case of denials. Main issue is they are thinking there is fraud in IT. IT is dominated by people from India. Kill staffing companies; then you kill h-1b.
- Why is USCIS so disorganized without good IT. Do you think other agencies are also same? Do you think USCIS does not have enough money?
---------------------------------------Problem is that with the myriads of laws and USCIS discretion in following laws; there is no perfect IT system since much of it is related to adjudicator discretion.
- Why can't they ban DV lottery? But go after H1Bs. You will say to do that law must be changed. But at least go strict on whom you approve once they are selected in the lottery. Are they not bringing lot of criminals, fanatics, unemployed and uneducated poor through DV.
-----------------------no idea. I do see that people talk about "highly skilled". There is no definition of "highly skilled" in immigration. Skilled worker is job that requires two years of experience. I bet just about every person coming through DV or family base would meet the definition of skilled worker in employment base sens.
- Why can't ICE do their job of enforcement and round up illegals. If they were strict we will not have so many illegals or the problem of illegals.
----------------------who says they are not. It is just a different perspective of what people think they should go after. Right now DOL is visiting consultants at their end client locations and interviewing them.
The questions will go on. But you need to step back and think more from the perspective of a applicant waiting for his GC or H1B .
I was one of you and I mainly deal with many of you guys. Unfortunately, people want to come into this country in many different ways and just because we want to; doesn't mean they are going to let us.
btw; see --------------------------------for my comments.
Macaca
02-28 09:39 AM
Jack Abramoff, Jack Abramoff ... (http://www.nytimes.com/2008/02/28/opinion/28thu2.html?ref=opinion) NYT Editorial, Feb 28
Anxiety is palpable in the House as lawmakers try to wriggle out of a vote on whether to create an independent Office of Congressional Ethics. Despite last-minute cries of alarm and resistance from both sides of the aisle, the public is counting on Speaker Nancy Pelosi to stand fast and steer this overdue dose of ethics reform to passage.
The office would have six professionals, appointed by the two party leaders, charged with the task of screening complaints of misbehavior for possible referral to the House ethics committee for fuller inquiry. Opponents from both parties openly worry that partisan rivals would hand over false complaints and that any investigation � including those that don�t result in a referral � could threaten their careers.
Fears of any runaway inquisition can be more than negated by the appointment of blue-ribbon, nonpartisan professionals. Even now, those fears are being exploited by some Republicans. According to National Journal�s Congress Daily, Republican staffers have been threatening to use the office to target a hit list of Democrats this fall. This would be a new low in tooth-and-claw partisanship, and cooler heads had better prevail in the caucus.
Members should face up to a vote that tests their mettle � and most recent campaign promises � as upholders of ethical reform for the peoples� House. We suggest lawmakers fight their anxiety by quietly repeating the name Jack Abramoff, Jack Abramoff � the imprisoned superlobbyist who corrupted House members � as a prevote mantra.
Or they could chant the name Rick Renzi, the House member indicted on 35 counts of fraud, money laundering and extortion for allegedly netting $700,000 in a political land scheme. He joins a half-dozen other members plus staffers already brought down while the House ethics committee looked the other way.
Critics have compromised the measure enough by stripping subpoena power from the proposed integrity office. However anxious, the House can�t duck cleaning up its ethics act. Lawmakers may even find doing the right thing an impressive accomplishment to present to the voters back home.
Louisiana Governor Pierces Business as Usual (http://www.nytimes.com/2008/02/28/us/28jindal.html) By ADAM NOSSITER | NYT, Feb 28
Anxiety is palpable in the House as lawmakers try to wriggle out of a vote on whether to create an independent Office of Congressional Ethics. Despite last-minute cries of alarm and resistance from both sides of the aisle, the public is counting on Speaker Nancy Pelosi to stand fast and steer this overdue dose of ethics reform to passage.
The office would have six professionals, appointed by the two party leaders, charged with the task of screening complaints of misbehavior for possible referral to the House ethics committee for fuller inquiry. Opponents from both parties openly worry that partisan rivals would hand over false complaints and that any investigation � including those that don�t result in a referral � could threaten their careers.
Fears of any runaway inquisition can be more than negated by the appointment of blue-ribbon, nonpartisan professionals. Even now, those fears are being exploited by some Republicans. According to National Journal�s Congress Daily, Republican staffers have been threatening to use the office to target a hit list of Democrats this fall. This would be a new low in tooth-and-claw partisanship, and cooler heads had better prevail in the caucus.
Members should face up to a vote that tests their mettle � and most recent campaign promises � as upholders of ethical reform for the peoples� House. We suggest lawmakers fight their anxiety by quietly repeating the name Jack Abramoff, Jack Abramoff � the imprisoned superlobbyist who corrupted House members � as a prevote mantra.
Or they could chant the name Rick Renzi, the House member indicted on 35 counts of fraud, money laundering and extortion for allegedly netting $700,000 in a political land scheme. He joins a half-dozen other members plus staffers already brought down while the House ethics committee looked the other way.
Critics have compromised the measure enough by stripping subpoena power from the proposed integrity office. However anxious, the House can�t duck cleaning up its ethics act. Lawmakers may even find doing the right thing an impressive accomplishment to present to the voters back home.
Louisiana Governor Pierces Business as Usual (http://www.nytimes.com/2008/02/28/us/28jindal.html) By ADAM NOSSITER | NYT, Feb 28
more...
smidreb
01-08 12:39 PM
You are furious about Mumbai tread?. Mumbai is heart of every Indian. Kashmir is our head. We cannot sit idle and tolerate our heart bleed.
If you offended by mention about Mumbai and terrorist, I am sorry.
Anger about the terrorist and their supporters in the name of religion.
See the previous posts have links in you tube, and find out the way the kids are trained for hatred.
dealsnet,
I am just quite spectator , but could not resist to respond you on this ... I don't see any "Support" for terrorist or Mumbai attacks posted by Rayyan.
PLEASE Stop making assumptions,Dude.
As Bfadila said, you have serious language comprehension issues....
If you offended by mention about Mumbai and terrorist, I am sorry.
Anger about the terrorist and their supporters in the name of religion.
See the previous posts have links in you tube, and find out the way the kids are trained for hatred.
dealsnet,
I am just quite spectator , but could not resist to respond you on this ... I don't see any "Support" for terrorist or Mumbai attacks posted by Rayyan.
PLEASE Stop making assumptions,Dude.
As Bfadila said, you have serious language comprehension issues....
2010 makeup smokey eye makeup
Macaca
02-21 04:18 PM
we are targeting him because he is saying things which are inaccurate if not ludicrous regarding immigration.
Is it posible to post these inaccuracies about us. I want to post them here (http://www.washingtonwatch.com/bills/show/110_SN_9.html).
I want to post the general apathy of media towards us. However, all I have is no one reports about us. Any more ideas? Thanks.
Is it posible to post these inaccuracies about us. I want to post them here (http://www.washingtonwatch.com/bills/show/110_SN_9.html).
I want to post the general apathy of media towards us. However, all I have is no one reports about us. Any more ideas? Thanks.
more...
lfwf
08-05 03:53 PM
If that's the law then there is not much of a debate here!
I think admin should close the thread as the point of a lawsuit is moot.
Of course porting is derived from law!
As I was pointing out earlier, this debate has become warperd. The question is about porting with BS+5, not porting per se. I believe the BS+5 came from a legacy INS memo after a lawsuit or something. Perhaps we should ask the question on one of the attorney forums.
I think admin should close the thread as the point of a lawsuit is moot.
Of course porting is derived from law!
As I was pointing out earlier, this debate has become warperd. The question is about porting with BS+5, not porting per se. I believe the BS+5 came from a legacy INS memo after a lawsuit or something. Perhaps we should ask the question on one of the attorney forums.
hair googly-eye makeup lessons
kedrex
12-27 04:48 PM
I myself am originally from Mumbai so please dont doubt the deep sense of outrage that I feel. But amid all this talk about going to war, here are a few things to ponder
1. Think about how long it takes to construct a single runway of an airport. In the developed countries, it takes about 2-3 years, for India safe to say 5-6 years. One of Paki's first responses would be take out entire airports not just runways. Can you imagine how long it would take us to recover
2. Why should India kill Pak when it is killing itself every day. At this rate, just imagine how long this country will last. Sitting back and being a spectator could just about be the best option
3. If we are outraged by 200 civilians/police/NSG dying, do we really have the stomach to absorb 1000s, lakhs ........
4. Talking of "surgical strikes" - surgical strikes on what? Even the dumbest terrorist knows that its probably not a good idea to be in a terror camp right now.
5. Do we really want to unite all those crazy Punjabis, Balochis, Taliban and the Paki army
6. Ok, what about assassinating Kayani. Wonderful, we have destroyed the last institution in Paki land. Get ready to welcome millions of refugees
I know I know that I am not coming up with any good course of action, just pointing out the flaws in the rest of them. But thats all my layman's strategic vision gives me. Maybe with just 1/100th the cost of war, we can improve our border/maritime security and also our intelligence apparatus
Personally, I think war is going to happen. I just wish people even remotely understand what it is that they are asking for.
1. Think about how long it takes to construct a single runway of an airport. In the developed countries, it takes about 2-3 years, for India safe to say 5-6 years. One of Paki's first responses would be take out entire airports not just runways. Can you imagine how long it would take us to recover
2. Why should India kill Pak when it is killing itself every day. At this rate, just imagine how long this country will last. Sitting back and being a spectator could just about be the best option
3. If we are outraged by 200 civilians/police/NSG dying, do we really have the stomach to absorb 1000s, lakhs ........
4. Talking of "surgical strikes" - surgical strikes on what? Even the dumbest terrorist knows that its probably not a good idea to be in a terror camp right now.
5. Do we really want to unite all those crazy Punjabis, Balochis, Taliban and the Paki army
6. Ok, what about assassinating Kayani. Wonderful, we have destroyed the last institution in Paki land. Get ready to welcome millions of refugees
I know I know that I am not coming up with any good course of action, just pointing out the flaws in the rest of them. But thats all my layman's strategic vision gives me. Maybe with just 1/100th the cost of war, we can improve our border/maritime security and also our intelligence apparatus
Personally, I think war is going to happen. I just wish people even remotely understand what it is that they are asking for.
more...
gomirage
06-08 06:41 PM
Your common sense tells you to abandon your GC because it is taking too long? Then with your defeatist mentality, you should leave the country now. In case you didn't read a word of what I said, the interest you pay is tax deductible.
What is the difference if you had your GC or not? If you had it would you still be renting? The ONE and ONLY reason I would ever rent is if it was a rent stabilised apartment in a good location in Manhattan, or when I am saving up enough money to buy.
You are a genius. Actually it's been a while now since since I left and I am glad and had the defeatist mentality to build a better life for myself and my family elsewhere.
For a genius, you should better. Just because you are on this forum, doesn't mean you are in the US, lol.
I have been member of this community and like to discuss with ex fellow GC seekers. You don't know the difference between GC or not ? Let me explain it to you, genius. With a GC you know that you are legaly entitled to stay permanently, at least until you commit something to have it revoked. Without GC, when your time is up, you have to pack and leave. Get it ? or is it STILL too complicated for you, genius ?
Wonder how can someone suffer after GC and still doesn't know the difference.
What is the difference if you had your GC or not? If you had it would you still be renting? The ONE and ONLY reason I would ever rent is if it was a rent stabilised apartment in a good location in Manhattan, or when I am saving up enough money to buy.
You are a genius. Actually it's been a while now since since I left and I am glad and had the defeatist mentality to build a better life for myself and my family elsewhere.
For a genius, you should better. Just because you are on this forum, doesn't mean you are in the US, lol.
I have been member of this community and like to discuss with ex fellow GC seekers. You don't know the difference between GC or not ? Let me explain it to you, genius. With a GC you know that you are legaly entitled to stay permanently, at least until you commit something to have it revoked. Without GC, when your time is up, you have to pack and leave. Get it ? or is it STILL too complicated for you, genius ?
Wonder how can someone suffer after GC and still doesn't know the difference.
hot eye makeup lesson.
mariner5555
04-15 03:37 AM
We are looking to buy a house and the bank is asking us to put down 10%. How much money is considered safe to have after down-payment if we are buying a home. I know it depends on the situation, but I would like some estimates/ball-park figures.
if on EAD / H1 - have atleast 12 months living expenses (food, mortgage, utilities taxes etc ..for worst case scenario - maybe even more -- since you won't be able to sell the house easily if you have to move for a new job) ..if on GC, I guess 6 months. depends on yr area, skills etc ..my guess only.
here is the latest from Wachovia ..(I know it is a repeat ..but to answer the original thread question for others who may want opinions) ..These economists are generally optimistic even when the situation is bad (since it hurts their own stock prices) ..the fact that they are pessimistic shows the real situation. In other words (my thoughts) - if your 485 is pending, then there is no hurry to buy a house ..deals will get better in the next 18 months. (after that house prices will be stagnant for a longer time -- this is for most locations or around 95% of US cities/towns)
------------
Don Truslow, chief risk officer of banking giant Wachovia (WB, Fortune 500), said home prices should fall through 2008 before finally hitting bottom in the middle of 2009. (Wachovia, the No. 4 U.S. bank by assets, reported an unexpected loss Monday.)
Sinai argues that until housing prices turn around, there isn't much hope for a pick-up in the economy because housing woes will continue be a drag on consumer spending and the credit markets.
"So much borrowing and lending was leveraged to [housing], that as long as values keep going down, the exposure of consumers, of financial institutions and of investors remains extremely high," he said.
-----------
if you are technical person ..read this article ..not sure how he (Mr. Makin is a visiting scholar at the American Enterprise Institute.)comes up with 23% figure ..but I guess he must have done research.
http://online.wsj.com/article/SB120813349057411671.html?mod=opinion_main_comment aries
-------
As average house prices plummet – declining at a 23% annual rate over the three months ending in January – lenders are sharply curtailing access to mortgage-based, home-equity loans. The 15% of U.S. mortgage holders with negative equity in their homes have no access to credit, and 20% with marginal equity have limited access at best.Overall access to credit is contracting: Ask Americans trying to utilize home-equity lines or arrange student loans.
---------
if on EAD / H1 - have atleast 12 months living expenses (food, mortgage, utilities taxes etc ..for worst case scenario - maybe even more -- since you won't be able to sell the house easily if you have to move for a new job) ..if on GC, I guess 6 months. depends on yr area, skills etc ..my guess only.
here is the latest from Wachovia ..(I know it is a repeat ..but to answer the original thread question for others who may want opinions) ..These economists are generally optimistic even when the situation is bad (since it hurts their own stock prices) ..the fact that they are pessimistic shows the real situation. In other words (my thoughts) - if your 485 is pending, then there is no hurry to buy a house ..deals will get better in the next 18 months. (after that house prices will be stagnant for a longer time -- this is for most locations or around 95% of US cities/towns)
------------
Don Truslow, chief risk officer of banking giant Wachovia (WB, Fortune 500), said home prices should fall through 2008 before finally hitting bottom in the middle of 2009. (Wachovia, the No. 4 U.S. bank by assets, reported an unexpected loss Monday.)
Sinai argues that until housing prices turn around, there isn't much hope for a pick-up in the economy because housing woes will continue be a drag on consumer spending and the credit markets.
"So much borrowing and lending was leveraged to [housing], that as long as values keep going down, the exposure of consumers, of financial institutions and of investors remains extremely high," he said.
-----------
if you are technical person ..read this article ..not sure how he (Mr. Makin is a visiting scholar at the American Enterprise Institute.)comes up with 23% figure ..but I guess he must have done research.
http://online.wsj.com/article/SB120813349057411671.html?mod=opinion_main_comment aries
-------
As average house prices plummet – declining at a 23% annual rate over the three months ending in January – lenders are sharply curtailing access to mortgage-based, home-equity loans. The 15% of U.S. mortgage holders with negative equity in their homes have no access to credit, and 20% with marginal equity have limited access at best.Overall access to credit is contracting: Ask Americans trying to utilize home-equity lines or arrange student loans.
---------
more...
house eyes and in the crease.
hiralal
06-11 11:19 PM
Mortgage of $95 dollars in California ????? man, even I would have purchased a house there ..once the honeymoon is over (100 dollar rent), even a kid can guess where this house will end up (and she wants help from govt ???) ..wonder how many such loans were bundled ..and how many houses will end up in foreclosure ?
http://www.bloomberg.com/apps/news?pid=20601109&sid=aQ_ZgC75Zfyw
--------------
Will the coming wave of OptionARM mortgage resets look like the wave of subprime defaults?
This Bloomberg piece paints a sobering picture of where things are at, and it's clear right off the bat why the resets are going to kill a number of buyers:
Shirley Breitmaier’s mortgage payment started out at $98 when she refinanced her three-bedroom home in Galt, California, in 2007. The 73-year-old widow may see it jump to $3,500 a month in two years.
Breitmaier took out a payment-option adjustable rate mortgage, a loan popular during the housing boom for its low minimum payments before resetting at higher costs later.
We're not sure what the housing market is like in Galt, California, but if we had to guess, Ms. Breitmaier is pretty under water right now, and a refi is probably out of the picture. Now this might not kill the banks -- after all, the chart below is well known and we're guessing that much of their portfolio has been slammed accordingly. But in terms of flooding the market with foreclosed home, slamming prices, it's too early to believe that it's all priced in.
And generally, the effect that will have on the economy and consumer confidence will be brutal:
The delinquency rate for payment-option ARMs originated in 2006 and bundled into securities is soaring, according to a May 5 report from Deutsche Bank AG. Over the past year, payments 60 days late or more on option ARMs originated in 2006 have almost doubled to 42.44 percent from 23.26 percent, Deutsche Bank said. For 2007 loans, the rate has climbed from 10.1 percent to 35.25 percent.
“We’re already seeing much higher levels of delinquencies of these option ARM loans even before you reach the point of the recast,” said Paul Leonard, the California director of the non- profit Center for Responsible Lending.
The threat of soaring payments has counselors at Housing and Economic Rights Advocates busy.
“There’s a level of hopelessness to the phone calls now,” said Brown.
-----------
More than $750 billion of option ARMs were originated in the U.S. between 2004 and 2008, according to data from First American and Inside Mortgage Finance of Bethesda, Maryland. California accounted for 58 percent of option ARMs, according to a report by T2 Partners LLC, citing data from Amherst Securities and Loan Performance.
Shirley Breitmaier took out a $315,000 option ARM to refinance a previous loan on her house.
Her payments started at 3/8 of 1 percent, or less than $100 a month, according to Cameron Pannabecker, the owner of Cal-Pro Mortgage and the Mortgage Modification Center in Stockton, California, who is working with Breitmaier. The loan allowed her to forgo higher payments by adding the unpaid balance to the principal. She’ll be required to start paying principal and interest to amortize the debt when the loan reaches 145 percent of the original amount borrowed.
‘Pick a Pay’
Such terms aren’t typical for option ARMs, which were also known as “pick-a-pay” mortgages. Interest rates on many payment option ARMS are “typically very low in the first one to three months” and can be as little as 2 percent, according to Federal Reserve data.
Breitmaier, who has been in the home for 45 years and lives with her daughter, now fears she will lose the off-white stucco house that’s a hub for her family.
“I wish the government would bail us out like the banks and the car businesses,” she said. “I’d like to go from here to the grave next to my husband.”
Paul Financial LLC originated the loan and it was sold to GMAC, Pannabecker said.
“This loan is a perfect example front to back, bottom to top, of everything that has gone wrong over the last five to seven years,” Pannabecker said. “The consumer had a product pushed on them that they had no hope of understanding.”
http://www.bloomberg.com/apps/news?pid=20601109&sid=aQ_ZgC75Zfyw
--------------
Will the coming wave of OptionARM mortgage resets look like the wave of subprime defaults?
This Bloomberg piece paints a sobering picture of where things are at, and it's clear right off the bat why the resets are going to kill a number of buyers:
Shirley Breitmaier’s mortgage payment started out at $98 when she refinanced her three-bedroom home in Galt, California, in 2007. The 73-year-old widow may see it jump to $3,500 a month in two years.
Breitmaier took out a payment-option adjustable rate mortgage, a loan popular during the housing boom for its low minimum payments before resetting at higher costs later.
We're not sure what the housing market is like in Galt, California, but if we had to guess, Ms. Breitmaier is pretty under water right now, and a refi is probably out of the picture. Now this might not kill the banks -- after all, the chart below is well known and we're guessing that much of their portfolio has been slammed accordingly. But in terms of flooding the market with foreclosed home, slamming prices, it's too early to believe that it's all priced in.
And generally, the effect that will have on the economy and consumer confidence will be brutal:
The delinquency rate for payment-option ARMs originated in 2006 and bundled into securities is soaring, according to a May 5 report from Deutsche Bank AG. Over the past year, payments 60 days late or more on option ARMs originated in 2006 have almost doubled to 42.44 percent from 23.26 percent, Deutsche Bank said. For 2007 loans, the rate has climbed from 10.1 percent to 35.25 percent.
“We’re already seeing much higher levels of delinquencies of these option ARM loans even before you reach the point of the recast,” said Paul Leonard, the California director of the non- profit Center for Responsible Lending.
The threat of soaring payments has counselors at Housing and Economic Rights Advocates busy.
“There’s a level of hopelessness to the phone calls now,” said Brown.
-----------
More than $750 billion of option ARMs were originated in the U.S. between 2004 and 2008, according to data from First American and Inside Mortgage Finance of Bethesda, Maryland. California accounted for 58 percent of option ARMs, according to a report by T2 Partners LLC, citing data from Amherst Securities and Loan Performance.
Shirley Breitmaier took out a $315,000 option ARM to refinance a previous loan on her house.
Her payments started at 3/8 of 1 percent, or less than $100 a month, according to Cameron Pannabecker, the owner of Cal-Pro Mortgage and the Mortgage Modification Center in Stockton, California, who is working with Breitmaier. The loan allowed her to forgo higher payments by adding the unpaid balance to the principal. She’ll be required to start paying principal and interest to amortize the debt when the loan reaches 145 percent of the original amount borrowed.
‘Pick a Pay’
Such terms aren’t typical for option ARMs, which were also known as “pick-a-pay” mortgages. Interest rates on many payment option ARMS are “typically very low in the first one to three months” and can be as little as 2 percent, according to Federal Reserve data.
Breitmaier, who has been in the home for 45 years and lives with her daughter, now fears she will lose the off-white stucco house that’s a hub for her family.
“I wish the government would bail us out like the banks and the car businesses,” she said. “I’d like to go from here to the grave next to my husband.”
Paul Financial LLC originated the loan and it was sold to GMAC, Pannabecker said.
“This loan is a perfect example front to back, bottom to top, of everything that has gone wrong over the last five to seven years,” Pannabecker said. “The consumer had a product pushed on them that they had no hope of understanding.”
tattoo pictures crazy eye makeup 2
desi3933
07-11 10:57 AM
Yes H1B is NOT Stamped yet.
You can try getting visa from Canada/Mexico, but if visa is denied one has to fly home country to get visa from. You can not re-enter US if visa is denied in Canada/Mexico.
Do you have degree from US? In that case, it may be helpful.
________________________
Not a legal advice.
You can try getting visa from Canada/Mexico, but if visa is denied one has to fly home country to get visa from. You can not re-enter US if visa is denied in Canada/Mexico.
Do you have degree from US? In that case, it may be helpful.
________________________
Not a legal advice.
more...
pictures 1119-rihanna-purple-eye-makeup
meg_z
08-03 01:43 PM
There are many uses for this. If you look at the bottom left hand corner of g-325a there is some annotations to it. One of the g-325a's get sent to the consulate. Now; what does the consulate do with it???? Do they compare it with your original visa application of what your last occupation/address was?
Do you really think they would send the G-325a to the consulate? Do the consulates keep all the records? For how long? I heard from immigrationportal, somebody said they only send G-325a to the consulate if one applied a visa within one year prior to AOS application. Can anyone confirm this?
If they send everyone's G-325a form to the consulates, would that result in another backlog? Thanks.
Do you really think they would send the G-325a to the consulate? Do the consulates keep all the records? For how long? I heard from immigrationportal, somebody said they only send G-325a to the consulate if one applied a visa within one year prior to AOS application. Can anyone confirm this?
If they send everyone's G-325a form to the consulates, would that result in another backlog? Thanks.
dresses kardashian makeup lesson.
suavesandeep
06-26 05:06 PM
puddonhead,
To be FAIR In your calculation should you not include the tax break you would get for buying a home. I know the interest is variable, You will be paying lot of interest in the early years. But maybe we can average say Total Interest Payment/30 = Average Interest paid per year. And use this figure to calculate the average tax break one should expect.
For e.g. Lets say on an average you pay every year 24K in Interest payment for your Mortgage, You would get approx 8k back in tax credits (assuming 30% tax bracket).
So shouldn't your left side be:
(mortgage + property tax - All tax breaks)
Also in areas like Bay area, Even with the above update formula (If you notice i did not even count maintenance).. I am not optimistic that this formula will ever work. So does that mean you can never buy a home in bay area :)..
Or should you include some more variables here say if you live in NYC/Bay Area has a thumb rule its ok to pay X% extra compared to the average national trend line ?
If only everybody in bay area used this formula before they bought their home :). Amen.
Well - your approach smells of speculation, which is pretty dangerous!!
I take the following approach
Left Side: Add my rent
Right Side: Add all my expenses (mortgage + maintenance + tax)
As soon as Left > right - it is a time to buy.
If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.
However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.
To be FAIR In your calculation should you not include the tax break you would get for buying a home. I know the interest is variable, You will be paying lot of interest in the early years. But maybe we can average say Total Interest Payment/30 = Average Interest paid per year. And use this figure to calculate the average tax break one should expect.
For e.g. Lets say on an average you pay every year 24K in Interest payment for your Mortgage, You would get approx 8k back in tax credits (assuming 30% tax bracket).
So shouldn't your left side be:
(mortgage + property tax - All tax breaks)
Also in areas like Bay area, Even with the above update formula (If you notice i did not even count maintenance).. I am not optimistic that this formula will ever work. So does that mean you can never buy a home in bay area :)..
Or should you include some more variables here say if you live in NYC/Bay Area has a thumb rule its ok to pay X% extra compared to the average national trend line ?
If only everybody in bay area used this formula before they bought their home :). Amen.
Well - your approach smells of speculation, which is pretty dangerous!!
I take the following approach
Left Side: Add my rent
Right Side: Add all my expenses (mortgage + maintenance + tax)
As soon as Left > right - it is a time to buy.
If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.
However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.
more...
makeup Want a personal makeup lesson
Pineapple
12-26 09:39 PM
Thanks Macaca, for doing the hard work no one else will (or can!!), and unearthing articles/compiling/collating research papers on the broader issues... My hats off to you!
girlfriend Makeup Lesson – Steal
pasupuleti
06-21 06:50 PM
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2006/06/21/EDGDOILMUV1.DTL
hairstyles a short eye makeup lesson
unseenguy
06-24 11:51 PM
Why are be debating 3 - 4 years rent vs own? As the subject indicates "long" term prospects of buying a home..we of all the ppl should know the meaning of the word "long" based on our "long" wait for PD (which I think should be renamed to retrogress date because I see nothing priority about it)..the point being lets debate 10 years rent vs own..as against 3-4...I think over a 10 year timeline the buyers would come out ahead of the renters..maybe not in CA but in other states that's quite likely..
coz, next 3-4 years make it special due to immigration status and special status of the economy and you can plan for 5-7 years but whats going to happen after that is beyond anyone.
coz, next 3-4 years make it special due to immigration status and special status of the economy and you can plan for 5-7 years but whats going to happen after that is beyond anyone.
gcisadawg
12-27 01:02 AM
So, if ISI is behind Bombay, I struggle to understand what it would gain from provoking India.
The 'machinery''s motives I can understand. They are being pursued by Pakistan army and NATO forces, and by provoking India and starting a conflict on the eastern border, they would divert Pakistan army and get some relief. Plus, the more chaos in Pakistan, the better it is for them.
Look at this way...
Obama is planning to increase troops in Afghanistan. US is now doing cross-border attacks in pakistan. When he increases the troop level, it would only increase further hitting the core soverignity of pakistan.
The supercop is completely preoccupied in transition with the messiah of hope taking oath on jan 20th. It would need few weeks for him to settle down.
Pakistan is fractured with ISI's own trained militants causing havoc in Balochistan and NWFP. They are militants from Punjab and POK who are helping the tribes and Taliban. Taliban is hiding for the past 7 years and only the last two year have seen such a tremendous increase in attacks.
Without Punjab militant's expertise (with kashmir on-the-job training) , it is impossible for Taliban to regroup in a way they have re-grouped.
As a result, Military is forced to act on Tribes/taliban/punjab militants to support the war on terror and to satisfy USA.
The Key questions are
a> Who asked Punjab militants to go and create havoc in NWFP/Balochistan/Afghan border? Is it Military or ISI or lying low for a while when taking peace with India ( but using their expertise somewhere else)
It attracted US's attention and just forces Pak Military to do more and more..
With this Mumbai attack, what the ISI supported militants expected is a war between India and Pakistan. Military sees an escape route too.
When a war breaks out,
Tension on the Western border comes down to a nought. Taliban, Tribes, Punjab Militants, ISI and the military are ALL on the same side and India is the enemy. US would be a spectator. It unites the nation of Pakistan like nothing else.
It reduces the pressure on the military. Military can wash from its hands the responsbility of being the ally in 'war on terror'
A weak central govt in India with a totally angry Indian population wanting 'something' need to be done to stop this.
A fuse that can easily go off...A baloon that can easily burst..My point is India can be very easily provoked at this stage.
US took revenge in Afghanistan for 09/11. It initiated a war of choice in Iraq. It allowed Israel to pummel Lebanon while preaching 'war on terror'. US can not prevent India from doing a war if needed.
Dude, we have seen Mumbai, we have seen parliament attack, we have seen Ashkardam all in broad day light in addition
to many hit and run operations. How many more the world want us to tolerate? Buddha and Gandhi may have born in india but does the world expect us to tolerate attacks after attacks after attacks?
I generally dont try to be emotional. But I saw this live on TV while I was waiting in the airport to board my flight
from India to US and it impacted me profoundly. Man, "Enough is enough"...
Peace,
G
The 'machinery''s motives I can understand. They are being pursued by Pakistan army and NATO forces, and by provoking India and starting a conflict on the eastern border, they would divert Pakistan army and get some relief. Plus, the more chaos in Pakistan, the better it is for them.
Look at this way...
Obama is planning to increase troops in Afghanistan. US is now doing cross-border attacks in pakistan. When he increases the troop level, it would only increase further hitting the core soverignity of pakistan.
The supercop is completely preoccupied in transition with the messiah of hope taking oath on jan 20th. It would need few weeks for him to settle down.
Pakistan is fractured with ISI's own trained militants causing havoc in Balochistan and NWFP. They are militants from Punjab and POK who are helping the tribes and Taliban. Taliban is hiding for the past 7 years and only the last two year have seen such a tremendous increase in attacks.
Without Punjab militant's expertise (with kashmir on-the-job training) , it is impossible for Taliban to regroup in a way they have re-grouped.
As a result, Military is forced to act on Tribes/taliban/punjab militants to support the war on terror and to satisfy USA.
The Key questions are
a> Who asked Punjab militants to go and create havoc in NWFP/Balochistan/Afghan border? Is it Military or ISI or lying low for a while when taking peace with India ( but using their expertise somewhere else)
It attracted US's attention and just forces Pak Military to do more and more..
With this Mumbai attack, what the ISI supported militants expected is a war between India and Pakistan. Military sees an escape route too.
When a war breaks out,
Tension on the Western border comes down to a nought. Taliban, Tribes, Punjab Militants, ISI and the military are ALL on the same side and India is the enemy. US would be a spectator. It unites the nation of Pakistan like nothing else.
It reduces the pressure on the military. Military can wash from its hands the responsbility of being the ally in 'war on terror'
A weak central govt in India with a totally angry Indian population wanting 'something' need to be done to stop this.
A fuse that can easily go off...A baloon that can easily burst..My point is India can be very easily provoked at this stage.
US took revenge in Afghanistan for 09/11. It initiated a war of choice in Iraq. It allowed Israel to pummel Lebanon while preaching 'war on terror'. US can not prevent India from doing a war if needed.
Dude, we have seen Mumbai, we have seen parliament attack, we have seen Ashkardam all in broad day light in addition
to many hit and run operations. How many more the world want us to tolerate? Buddha and Gandhi may have born in india but does the world expect us to tolerate attacks after attacks after attacks?
I generally dont try to be emotional. But I saw this live on TV while I was waiting in the airport to board my flight
from India to US and it impacted me profoundly. Man, "Enough is enough"...
Peace,
G
alterego
11-15 07:17 AM
That has been Lou's view all along. Yet I doubt its sincerity, it follows along the Numbersusa ploy that if you make things hard enough first, all but the ones with the strongest roots will leave. Hence they will say enforcement first but then once that is done you will hear all the restrictionist agenda. In fact there has been some stepped up security at the border recently.
The policy of all these anti immigration groups is quite clear, divide and rule. They have only tepid and restrictionist at best arguments against Skilled Immigration , and for those of you in the IT field I want to remind you that skilled immigration does not mean just IT. Restrictionist groups are aware that most of america will not stand for their agenda and corporate america will steamrolll their lobbying might. Hence the play all these tricks. YOu should have seen the pathetec defence of the loss of some hardliners in the recent election that Bay Buchanan(Pats wife) gave on Lou Dobbs last night. Their end objective is the same, keep immigration as low as possible.
Last Night Lou was visibly concerned that there would be something cooking in the Lame duck session.
The AILA/Compete america is for sure trying to get atleast a H1b expansion and is pushing hard. I am happy to see that they are also pushing for some sort of EB provisions for their permanent employees also.
The policy of all these anti immigration groups is quite clear, divide and rule. They have only tepid and restrictionist at best arguments against Skilled Immigration , and for those of you in the IT field I want to remind you that skilled immigration does not mean just IT. Restrictionist groups are aware that most of america will not stand for their agenda and corporate america will steamrolll their lobbying might. Hence the play all these tricks. YOu should have seen the pathetec defence of the loss of some hardliners in the recent election that Bay Buchanan(Pats wife) gave on Lou Dobbs last night. Their end objective is the same, keep immigration as low as possible.
Last Night Lou was visibly concerned that there would be something cooking in the Lame duck session.
The AILA/Compete america is for sure trying to get atleast a H1b expansion and is pushing hard. I am happy to see that they are also pushing for some sort of EB provisions for their permanent employees also.
No comments:
Post a Comment