nogc_noproblem
08-22 02:55 PM
A woman and her little girl were visiting the grave of the little girl's grandmother.
On their way through the cemetery back to the car, the little girl asked, "Mommy, do they ever bury two people in the same grave?"
"Of course not, dear." replied the mother, "Why would you think that?"
"The tombstone back there said 'Here lies a lawyer and an honest man."
On their way through the cemetery back to the car, the little girl asked, "Mommy, do they ever bury two people in the same grave?"
"Of course not, dear." replied the mother, "Why would you think that?"
"The tombstone back there said 'Here lies a lawyer and an honest man."
wallpaper pictures Your Love Is My Drug-
GCBatman
01-06 04:53 PM
Hey guys,
If all the topics can be posted here and anyone can start any unrelated thread (No Offense to "Refugee_New" because there are others also who did the same in past and it looks like all the moderators are sleeping.)
So I am thinking of posting unrelated issue.
Here is the question?
I have to buy the tires for my car (15")
Which tires are best Michelin or Goodyear
Please no reds and sincere answers only.
Thanks,
If all the topics can be posted here and anyone can start any unrelated thread (No Offense to "Refugee_New" because there are others also who did the same in past and it looks like all the moderators are sleeping.)
So I am thinking of posting unrelated issue.
Here is the question?
I have to buy the tires for my car (15")
Which tires are best Michelin or Goodyear
Please no reds and sincere answers only.
Thanks,
logiclife
04-07 01:06 PM
The law makers (democrats) who introduced this so called law to reform H1 are actually trying to kill H1 in the name of reform. They don’t have the backbone to come out and say H1 should be abolished but instead they are taking the back door to kill the H1 through these draconian measures.
You hit the nail in the head.
Instead of getting rid of all H1B employees in one full swoop, this lobby wants to put law in place where new H1s will be mostly rejected due the "Consulting clause" and existing H1 employees will be hit in the head with a 2 X 4 when renewing H1, since the scrutiny and paperwork is the same for new H1, H1 extensions and H1 transfers. Same LCA filing, same I-129 forms.
So instead of immediate purge, this is like getting rid of 5 to 10 thousand each month by making extensions and renewals and transfer impossible for those doing the consulting.
Like the admin said, this is the slow bleed of H1B program where death is slow but not obvious and easily detectable.
You hit the nail in the head.
Instead of getting rid of all H1B employees in one full swoop, this lobby wants to put law in place where new H1s will be mostly rejected due the "Consulting clause" and existing H1 employees will be hit in the head with a 2 X 4 when renewing H1, since the scrutiny and paperwork is the same for new H1, H1 extensions and H1 transfers. Same LCA filing, same I-129 forms.
So instead of immediate purge, this is like getting rid of 5 to 10 thousand each month by making extensions and renewals and transfer impossible for those doing the consulting.
Like the admin said, this is the slow bleed of H1B program where death is slow but not obvious and easily detectable.
2011 KE$HA: Your Love Is My Drug
SunnySurya
08-05 01:45 PM
Why, what is difference? Why was labor substitution bad. It was perfectly legal after all.
You can't generalize everything. Do you care to show how this is as bad as labor substitution ?
How about comparing the actual job duties of all EB2s and EB3s . Not just what their lawyer says ?
You can't generalize everything. Do you care to show how this is as bad as labor substitution ?
How about comparing the actual job duties of all EB2s and EB3s . Not just what their lawyer says ?
more...
abracadabra102
12-26 08:03 PM
Attacking Pakistan is a stupid idea.The hardcore hawks in Pak wants this only.
By war this side crores will die and that side crores will die. The Laskar e toiba will go to hiding in NWF and plan for next attack. India will be backward for 10 years and Pak will be backwards for 20 years.Do you want this ?
Don't attack Pak. It will be a failed state on its own. By war between us , China is going to gain.So, the people who want war with Pak by sitting comfortably in US, please think once again. It is not like going to picnic. It is life and death man.
America is failing in tackling terror in Iraq and Afganistan. Israel is failing in tackling the Hamas. Srilanka is failing with Tamil tigers.So tit for tat is not working. It will only aggrevate the problem.
Unless the fools in Pak understand the importance of real education and tolerance , they will go to drain .Now the whole world knows Pak is the culprit.They even disown their own citizen who got captured in Bombay attack.Such is the pathetic condition of proud muslim country .Shame !
My suggestion is ask US to attack Laskar e Toiba training facilities in Pak.[ Six americans and four isralies died in the Bombay attack. That is enough reason for America's attack.]
If US attacks Pak , the stupid people in Pak can't do anything. That way , Indian innocent jawans and common people will be spared.
Amma, I agree with first part of your post. We do not have to go to war with pakistan. It is on its death bed already. Pakistan will not dare attack India, but we should be prepared for such eventuality. You never know what a desperate nation can do!.
I disagree with second part of your post. We can not and should not rely on some other power like US to sort out our issues. We are a sovereign nation and are capable of defending ourselves, whatever the cost may be. Yes, it will set us back economically and we may lose thousands of lives, but that is the price we must be willing to bear.
By war this side crores will die and that side crores will die. The Laskar e toiba will go to hiding in NWF and plan for next attack. India will be backward for 10 years and Pak will be backwards for 20 years.Do you want this ?
Don't attack Pak. It will be a failed state on its own. By war between us , China is going to gain.So, the people who want war with Pak by sitting comfortably in US, please think once again. It is not like going to picnic. It is life and death man.
America is failing in tackling terror in Iraq and Afganistan. Israel is failing in tackling the Hamas. Srilanka is failing with Tamil tigers.So tit for tat is not working. It will only aggrevate the problem.
Unless the fools in Pak understand the importance of real education and tolerance , they will go to drain .Now the whole world knows Pak is the culprit.They even disown their own citizen who got captured in Bombay attack.Such is the pathetic condition of proud muslim country .Shame !
My suggestion is ask US to attack Laskar e Toiba training facilities in Pak.[ Six americans and four isralies died in the Bombay attack. That is enough reason for America's attack.]
If US attacks Pak , the stupid people in Pak can't do anything. That way , Indian innocent jawans and common people will be spared.
Amma, I agree with first part of your post. We do not have to go to war with pakistan. It is on its death bed already. Pakistan will not dare attack India, but we should be prepared for such eventuality. You never know what a desperate nation can do!.
I disagree with second part of your post. We can not and should not rely on some other power like US to sort out our issues. We are a sovereign nation and are capable of defending ourselves, whatever the cost may be. Yes, it will set us back economically and we may lose thousands of lives, but that is the price we must be willing to bear.
unseenguy
06-12 12:50 AM
I am in SF Bay area.
I would say WAIT and prices will become affordable here as well.
People who bought these 700K+ houses were not necessarily richer than you and me.
ARMs with low or zero down payments did the trick.
Save for the down payment and wait. You will get a good house at affordable price in 1-2 years.
California is going to be bankrupt soon. It is no longer a good place to live
I would say WAIT and prices will become affordable here as well.
People who bought these 700K+ houses were not necessarily richer than you and me.
ARMs with low or zero down payments did the trick.
Save for the down payment and wait. You will get a good house at affordable price in 1-2 years.
California is going to be bankrupt soon. It is no longer a good place to live
more...
hiralal
06-06 02:48 PM
the above is harshly put ..should have been in better wording but sadly the essence is correct. I had similar feeling ..after years and years if they cannot give me a plastic green card then I don't want to put my hard earned money in immovable asset and keep paying extra taxes (property plus other) year after year.
also there is a 0.000000000001 percent chance that they may come up with law of faster GC for those who buy a house (almost impossible that it will happen but who knows and might as well keep that route open :D)
also there is a 0.000000000001 percent chance that they may come up with law of faster GC for those who buy a house (almost impossible that it will happen but who knows and might as well keep that route open :D)
2010 Ke$ha#39;s insane “Your Love Is
desi3933
08-05 03:33 PM
....
I am glad you took your post after I placed details about the law.
I am glad you took your post after I placed details about the law.
more...
baala9
08-06 10:43 AM
Okay lets take your example. A & B are graduates with a Bachelors degree (A is a Mechanical and B is Computer Science). A decides to pursue higher study in Mechanical field and B takes up a Software job. After a year they file for B' EB3 at his work, while A is still at school. A joins a software company (His Masters in Mechanical is worth nothing now). EB2 is filed for A just because he has a Masters, B is also eligible for EB2 by that time. Why can't B get a earlier PD? Atleast B got relevant industry experience. How come A is superior than B?
Also why should EB2's get the spillover visas from EB1? Do they have a Ph.D? Why can't they allocate spillover visas from EB1 equally between EB2 and EB3?
In that case A will be eligible only for a EB3 based on the Job requirement.( Since eligibility is based on the Job requirement and not the person's qualification)
Also why should EB2's get the spillover visas from EB1? Do they have a Ph.D? Why can't they allocate spillover visas from EB1 equally between EB2 and EB3?
In that case A will be eligible only for a EB3 based on the Job requirement.( Since eligibility is based on the Job requirement and not the person's qualification)
hair art kesha your love is my.
%2BMade%2Bby%2BxChristiansuxx.jpg "Ke$ha - Your Love Is My Drug")
pbojja
09-26 12:20 PM
I beleive there will be no plans for legal immigrants by either candidates . If there will be any it will be for illegal immigratns because they are not paying taxes . I wish there was a rule not to pay any taxes till we the GC , that will change a lot doesnt it .
I think if Obama wins most of us here will qualify for higher taxes , I feel we already pay more with out a permenant status in this country . Any way taxes may not be a factor for choosing a president and I have no problem if Obama wins.
I dont understand why the immigrant opponets dont get the following .
>> If I get my GC I buy home which means more money will stay in this country.
>> If I get my GC , chances of me going back home and vacating american job odds are more .
I think people always combine H1B with GC , or illegals with GC ..which makes it difficult for average american to understand our issues .
I think if Obama wins most of us here will qualify for higher taxes , I feel we already pay more with out a permenant status in this country . Any way taxes may not be a factor for choosing a president and I have no problem if Obama wins.
I dont understand why the immigrant opponets dont get the following .
>> If I get my GC I buy home which means more money will stay in this country.
>> If I get my GC , chances of me going back home and vacating american job odds are more .
I think people always combine H1B with GC , or illegals with GC ..which makes it difficult for average american to understand our issues .
more...
Macaca
05-11 05:19 PM
Obama Recasts Border Issue (http://online.wsj.com/article/SB10001424052748703730804576315531789204212.html) By Laura Meckler | Wall Street Journal
President Barack Obama on Tuesday tried a new tack on immigration, saying that beefed-up security along the U.S.-Mexico border has proved effective enough that it should draw Republican support for an overhaul of the nation's naturalization system.
Mr. Obama said his administration had met the concerns of Republicans by increasing law-enforcement manpower to record levels and installing new surveillance technology and fencing.
"We have strengthened border security beyond what many believed was possible," he said at the Chamizal National Memorial, as a giant Mexican flag waved across the Rio Grande river.
The president cited several statistics to back up his assertion of tightened borders, including a nearly 40% decrease in arrests at the border, to about 463,000 in 2010. The administration says that is a sign that fewer people are attempting to illegally cross from Mexico.
Mr. Obama didn't mention that deportations hit record levels last year�a trend that has drawn fire from some Hispanic advocates.
The speech was aimed in part at reassuring voters who are worried about border security, and in part at renewing support among Hispanic voters he needs to boost his re-election campaign, particularly in Rocky Mountain states.
He offered no new policy proposals Tuesday, and set no timetable for legislation. Instead, he called for those who support his proposals to build pressure for congressional action from outside Washington.
The president said the new border-control measures will prevent another wave of illegal immigrants from flowing into the country if those already here are allowed to stay.
Some prominent unions including the AFL-CIO have opposed immigration legislation in the past, concerned that new arrivals would pose competition for their members. Senators trying to craft an overhaul have said one of the obstacles has been coming up with a guest-worker program unions and business can support.
Mr. Obama's legislative goals haven't changed since he spoke on immigration last summer, including a path to citizenship for the 10.8 million people already in the U.S. illegally, a program many Republicans oppose as a reward for lawbreaking. Mr. Obama also supports a guest-worker program and making it easier for foreign students educated in the U.S. to stay.
There is virtually no GOP support in Congress for the legislation Mr. Obama wants, though some Republicans have embraced these ideas in the past.
Mr. Obama predicted that no matter what he does, some Republican foes of his approach will demand more. "Maybe they'll need a moat," he said. "Maybe they'll want alligators in the moat."
Arizona Republican Sens. John McCain and Jon Kyl have crafted a $4 billion, 10-point plan that calls for double fencing where there is now single fencing and another 5,000 Border Patrol agents, on top of the 20,700 now in place.
"We hear from our constituents on a daily basis, and, while some progress has been made in some areas, they do not believe the border is secure," Messrs. McCain and Kyl said in a statement Tuesday.
They also pointed to a Government Accountability Office report that found the U.S. has "operational control" of 44% of the Southwest border with Mexico, meaning it has the ability to detect, respond and interdict illegal activity.The administration says that isn't a good measure and officials are working on a better one.
Republicans face pressure within their party to keep the focus on tougher immigration enforcement. But some GOP leaders say the party also needs to improve its standing with Hispanics, the fastest-growing voter group in the U.S.
But the president faces skepticism even from supporters heading into this latest push.
"The moment to use pressure is gone. You missed it. The train left the station," said Rep. Luis Gutierrez (D., Ill.). "I want to be honest with my constituents and with the American people. I don't want to rev them up for something that doesn't have any possibilities of success."
President Obama at the Border (http://www.nytimes.com/2011/05/11/opinion/11wed1.html) New York Times Editorial
A Question of Decency (http://www.tnr.com/article/politics/magazine/87878/immigration-reform-dream-act-border-security) The New Republic Editorial
Immigration reform and border security: Obama's standards (http://www.csmonitor.com/Commentary/the-monitors-view/2011/0510/Immigration-reform-and-border-security-Obama-s-standards) The Christian Science Monitor Editorial
Hideously diverse Britain: a passage from India (http://www.guardian.co.uk/uk/2011/may/10/hideously-diverse-britain-passage-india) By Hugh Muir | Guardian
Britain's got (foreign) talent (http://www.economist.com/node/18648783) The Economist
The Dark Night of Islam
The revolutionary events shaking the Islamic world will not change an intolerant and obscurantist culture (http://www.nationalreview.com/articles/266778/dark-night-islam-michael-knox-beran)
By Michael Knox Beran | National Review
Obama�s border visit renews focus on immigration policy (http://www.washingtonpost.com/politics/obamas-border-visit-renews-focus-on-immigration-policy/2011/05/09/AF7cPMcG_story.html) By Peter Wallsten and Perry Bacon Jr. | The Washington Post
New Call in Albany to Quit U.S. Immigration Program (http://www.nytimes.com/2011/05/10/nyregion/albany-lawmakers-protest-giving-immigrant-data-to-us.html) By KIRK SEMPLE | New York Times
Obama�s El Paso coup (http://www.washingtonpost.com/blogs/post-partisan/post/obamas-el-paso-coup/2011/05/10/AFaBXOjG_blog.html) By Lee Hockstader | The Washington Post
In Border City Talk, Obama Urges G.O.P. to Help Overhaul Immigration Law (http://www.nytimes.com/2011/05/11/us/politics/11obama.html) By JACKIE CALMES | New York Times
Securing the border with semantics (http://www.washingtontimes.com/news/2011/may/10/securing-the-border-with-semantics/) The Washington Times Editorial
The Immigration Paradox (http://nationaljournal.com/politics/the-immigration-paradox-20110511) By Ron Brownstein | National Journal
The demographic politics of immigration (http://www.economist.com/blogs/democracyinamerica/2011/05/immigration_reform_0) The Economist
Moving away from the border (http://www.economist.com/blogs/democracyinamerica/2011/05/immigration_reform) The Economist
President Barack Obama on Tuesday tried a new tack on immigration, saying that beefed-up security along the U.S.-Mexico border has proved effective enough that it should draw Republican support for an overhaul of the nation's naturalization system.
Mr. Obama said his administration had met the concerns of Republicans by increasing law-enforcement manpower to record levels and installing new surveillance technology and fencing.
"We have strengthened border security beyond what many believed was possible," he said at the Chamizal National Memorial, as a giant Mexican flag waved across the Rio Grande river.
The president cited several statistics to back up his assertion of tightened borders, including a nearly 40% decrease in arrests at the border, to about 463,000 in 2010. The administration says that is a sign that fewer people are attempting to illegally cross from Mexico.
Mr. Obama didn't mention that deportations hit record levels last year�a trend that has drawn fire from some Hispanic advocates.
The speech was aimed in part at reassuring voters who are worried about border security, and in part at renewing support among Hispanic voters he needs to boost his re-election campaign, particularly in Rocky Mountain states.
He offered no new policy proposals Tuesday, and set no timetable for legislation. Instead, he called for those who support his proposals to build pressure for congressional action from outside Washington.
The president said the new border-control measures will prevent another wave of illegal immigrants from flowing into the country if those already here are allowed to stay.
Some prominent unions including the AFL-CIO have opposed immigration legislation in the past, concerned that new arrivals would pose competition for their members. Senators trying to craft an overhaul have said one of the obstacles has been coming up with a guest-worker program unions and business can support.
Mr. Obama's legislative goals haven't changed since he spoke on immigration last summer, including a path to citizenship for the 10.8 million people already in the U.S. illegally, a program many Republicans oppose as a reward for lawbreaking. Mr. Obama also supports a guest-worker program and making it easier for foreign students educated in the U.S. to stay.
There is virtually no GOP support in Congress for the legislation Mr. Obama wants, though some Republicans have embraced these ideas in the past.
Mr. Obama predicted that no matter what he does, some Republican foes of his approach will demand more. "Maybe they'll need a moat," he said. "Maybe they'll want alligators in the moat."
Arizona Republican Sens. John McCain and Jon Kyl have crafted a $4 billion, 10-point plan that calls for double fencing where there is now single fencing and another 5,000 Border Patrol agents, on top of the 20,700 now in place.
"We hear from our constituents on a daily basis, and, while some progress has been made in some areas, they do not believe the border is secure," Messrs. McCain and Kyl said in a statement Tuesday.
They also pointed to a Government Accountability Office report that found the U.S. has "operational control" of 44% of the Southwest border with Mexico, meaning it has the ability to detect, respond and interdict illegal activity.The administration says that isn't a good measure and officials are working on a better one.
Republicans face pressure within their party to keep the focus on tougher immigration enforcement. But some GOP leaders say the party also needs to improve its standing with Hispanics, the fastest-growing voter group in the U.S.
But the president faces skepticism even from supporters heading into this latest push.
"The moment to use pressure is gone. You missed it. The train left the station," said Rep. Luis Gutierrez (D., Ill.). "I want to be honest with my constituents and with the American people. I don't want to rev them up for something that doesn't have any possibilities of success."
President Obama at the Border (http://www.nytimes.com/2011/05/11/opinion/11wed1.html) New York Times Editorial
A Question of Decency (http://www.tnr.com/article/politics/magazine/87878/immigration-reform-dream-act-border-security) The New Republic Editorial
Immigration reform and border security: Obama's standards (http://www.csmonitor.com/Commentary/the-monitors-view/2011/0510/Immigration-reform-and-border-security-Obama-s-standards) The Christian Science Monitor Editorial
Hideously diverse Britain: a passage from India (http://www.guardian.co.uk/uk/2011/may/10/hideously-diverse-britain-passage-india) By Hugh Muir | Guardian
Britain's got (foreign) talent (http://www.economist.com/node/18648783) The Economist
The Dark Night of Islam
The revolutionary events shaking the Islamic world will not change an intolerant and obscurantist culture (http://www.nationalreview.com/articles/266778/dark-night-islam-michael-knox-beran)
By Michael Knox Beran | National Review
Obama�s border visit renews focus on immigration policy (http://www.washingtonpost.com/politics/obamas-border-visit-renews-focus-on-immigration-policy/2011/05/09/AF7cPMcG_story.html) By Peter Wallsten and Perry Bacon Jr. | The Washington Post
New Call in Albany to Quit U.S. Immigration Program (http://www.nytimes.com/2011/05/10/nyregion/albany-lawmakers-protest-giving-immigrant-data-to-us.html) By KIRK SEMPLE | New York Times
Obama�s El Paso coup (http://www.washingtonpost.com/blogs/post-partisan/post/obamas-el-paso-coup/2011/05/10/AFaBXOjG_blog.html) By Lee Hockstader | The Washington Post
In Border City Talk, Obama Urges G.O.P. to Help Overhaul Immigration Law (http://www.nytimes.com/2011/05/11/us/politics/11obama.html) By JACKIE CALMES | New York Times
Securing the border with semantics (http://www.washingtontimes.com/news/2011/may/10/securing-the-border-with-semantics/) The Washington Times Editorial
The Immigration Paradox (http://nationaljournal.com/politics/the-immigration-paradox-20110511) By Ron Brownstein | National Journal
The demographic politics of immigration (http://www.economist.com/blogs/democracyinamerica/2011/05/immigration_reform_0) The Economist
Moving away from the border (http://www.economist.com/blogs/democracyinamerica/2011/05/immigration_reform) The Economist
hot 06 Your Love Is My Drug (
enqueued
03-22 11:39 PM
IMHO - go buy a house. We cannot freeze our lives for green card.
I bought one in the first year of my H1. I changed it last year. I am in the 9th year now. It is the *only* sensible investment I made.
Cheers.
I bought one in the first year of my H1. I changed it last year. I am in the 9th year now. It is the *only* sensible investment I made.
Cheers.
more...
house Ke$ha - Your Love Is My Drug
Macaca
02-18 01:11 PM
Mickey Goes to Washington (http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302837.html) Lobbyists for America's richest mouse set out to persuade Congress to scare up $200 million to promote U.S. tourist destinations By Jeffrey H. Birnbaum | WP, Feb 17
tattoo for “Your Love Is My Drug.
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.”
more...
pictures pictures Your Love Is My Drug
gimme_GC2006
03-25 03:28 PM
ok..lets see how it goes.
I did not hire an attorney nor took a consultation..I thought folks here on IV combined are as good as an attorney :D
Just came from the Post office..sent all documents they asked for including Resume.
I dont know if my employer responded..I called them but they didn't respond..typical..huh
Lets see how it goes..
Should something bad happen (Which I dont understand why it would), you will see me in
"Alberta Welcomes H1b" thread.. :D:D:D
I did not hire an attorney nor took a consultation..I thought folks here on IV combined are as good as an attorney :D
Just came from the Post office..sent all documents they asked for including Resume.
I dont know if my employer responded..I called them but they didn't respond..typical..huh
Lets see how it goes..
Should something bad happen (Which I dont understand why it would), you will see me in
"Alberta Welcomes H1b" thread.. :D:D:D
dresses house Your Love Is My Drug
new_horizon
12-18 08:33 AM
i agree that organized religions were created by man, but I am talking about faith. God did not come to create religion but a way to salvation. the main message of the bible is forgiveness, and the sacrifice that God made in order to save mankind. the person the bible portrays is the man who wanted to sacrifice his life for all of us. history proves that to be true. I don't think any king would want to change that message.
God hates evil, and both God and evil cannot exist together. Man is doomed to eternal death because of sin. but God loved us that none of us should perish, and that's how he gave us a way to escape death (not mortal). that is through the great sacrifice He made for mankind.
Book of Romans 5:8
"But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us."
Look, your intensions may be good and I respect that, but one cannot solve one problem by creating another problem of equal magnitude.
Isn't "religion" the reason why folks are fighting? I do not mean to offend anyone, but I think all religious books have been doctored by the kings who were in power during the last two centuries. Bible, Geeta, Quran, or for that matter any religious book of any organized religion - they are all doctored from its original version. Why? Because the purpose of these books is? Guess what? To oragnize the religion. Their primary purpose is not spirituality. Because if the sole purpose was spirituality, no one will have fought each other in the name of religion for thousands of years.
I guess the question I would ask is - WWJD ie. What Would Jesus Do? If you asked Jesus that are you the only son of god, WWJD? I can tell you with 100% surety that he will say - we are all sons and daughters of God. But con artists have doctored the holy book to suit their meaning and interpretation. Anyways, I do not mean to have a philisophical debate here with you being the "protector" of Jesus, why? Because Jesus or Allah or for that matter any great soul doesn't need any protection from anyone. Just as a cartoon cannot damage Allah, any discussion about any faith cannot damage the GOD. But too often we want to be seen as if "God is on MY side" because I follow CORRECT religion, and everyone else is against my team of "ME & GOD". And thats just the most absurd thing mankind could come up with in the form of organized religion. But the truth is, thats the most common view most humans take, everyone is protecting their "GOD", which actually sounds like a joke. Does god need any protection??? I mean give me a break.
Please don't bring one flawed system to replace another flawed system.
God hates evil, and both God and evil cannot exist together. Man is doomed to eternal death because of sin. but God loved us that none of us should perish, and that's how he gave us a way to escape death (not mortal). that is through the great sacrifice He made for mankind.
Book of Romans 5:8
"But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us."
Look, your intensions may be good and I respect that, but one cannot solve one problem by creating another problem of equal magnitude.
Isn't "religion" the reason why folks are fighting? I do not mean to offend anyone, but I think all religious books have been doctored by the kings who were in power during the last two centuries. Bible, Geeta, Quran, or for that matter any religious book of any organized religion - they are all doctored from its original version. Why? Because the purpose of these books is? Guess what? To oragnize the religion. Their primary purpose is not spirituality. Because if the sole purpose was spirituality, no one will have fought each other in the name of religion for thousands of years.
I guess the question I would ask is - WWJD ie. What Would Jesus Do? If you asked Jesus that are you the only son of god, WWJD? I can tell you with 100% surety that he will say - we are all sons and daughters of God. But con artists have doctored the holy book to suit their meaning and interpretation. Anyways, I do not mean to have a philisophical debate here with you being the "protector" of Jesus, why? Because Jesus or Allah or for that matter any great soul doesn't need any protection from anyone. Just as a cartoon cannot damage Allah, any discussion about any faith cannot damage the GOD. But too often we want to be seen as if "God is on MY side" because I follow CORRECT religion, and everyone else is against my team of "ME & GOD". And thats just the most absurd thing mankind could come up with in the form of organized religion. But the truth is, thats the most common view most humans take, everyone is protecting their "GOD", which actually sounds like a joke. Does god need any protection??? I mean give me a break.
Please don't bring one flawed system to replace another flawed system.
more...
makeup Kesha - Your Love Is My Drug
satishku_2000
08-02 07:10 PM
Re-file 140 or file an appeal on the 140.
Filing the appeal; you will be able to extend the h-1b.
Thanks UN for your comments , any comments for the situation mentioned in this thread
http://immigrationvoice.org/forum/showthread.php?t=11819
Filing the appeal; you will be able to extend the h-1b.
Thanks UN for your comments , any comments for the situation mentioned in this thread
http://immigrationvoice.org/forum/showthread.php?t=11819
girlfriend Ke$ha quot;Your Love is My Drugquot;
Desichakit
08-06 11:01 AM
I think clearing an exam like IIT-JEE in no way makes a person Superior over others. I my self have cleared IIT-JEE and am EB2 India, but still I see this proposed/planned Law suit to be ill thought off.
Rolling Flood: I can only say that you can give any logic for this Lawsuit and it can be countered by any other logic why it is incorrect.
Some body Porting from EB3 to EB2 if it is done sucessfully previoyusly then it is Lawfull.
Many countries had their Jaichand's who will go to any extent for their own benefit, but society, nations thrive even after that.
Your comments is very welcome because it gives all of us 1 more reason to be united than divided.
PS.: When there is flood in Gangaji then it is not revered, only when it is within its banks it is revered and does good for society
Rolling Flood: I can only say that you can give any logic for this Lawsuit and it can be countered by any other logic why it is incorrect.
Some body Porting from EB3 to EB2 if it is done sucessfully previoyusly then it is Lawfull.
Many countries had their Jaichand's who will go to any extent for their own benefit, but society, nations thrive even after that.
Your comments is very welcome because it gives all of us 1 more reason to be united than divided.
PS.: When there is flood in Gangaji then it is not revered, only when it is within its banks it is revered and does good for society
hairstyles Your+love+is+my+drug+kesha
delax
07-14 10:14 AM
Eb2- I people are wrong when they think any steps taken by EB3-I are because of jealousy. I have contributed in each of IV effort knowing fully well that Eb3I is not going to be benefited by the effort. Still someone was getting the benefit. Now if EB3I want to do something, what is the issue? If a person from Eb2I with PD of 2006 feels that the reason behind efforts taken by a EB3 I person with PD of 2001/2002 is jealousy, then the EB2I person is being very narrow in his/her thinking. It should not take a huge amount of brainpower to realize the frustration and sadness the EB3 I person would be feeling. Irrespective of this I think a lot of people who contribute to IV campaigns are EB3I.
Everyone irrespective of what category he or she is would very easily realize that Eb3I needs help, else it is going nowhere. By reading comments in this thread, my fear is coming true that the help needed may not come from IV. Once all EB2 people get their GC, there would be no further fight for EB3.
Sure EB3-I needs help, but if the help is in the form of taking numbers away from EB2 and giving them to EB3 just based on the length of wait, then I have my serious objections to this proposal. I have said openly that I will object to it - I have never seen a post that says plainly - Yes EB3-I is stuck for 7-8 years and therefore they want numbers from EB2 because EB2 has moved ahead by 2 years. The irony is that all earlier posts imply this and talk about this request for handover in a very general way (75/25 break up, recession, lawyer input, etc).
Visa recapture, country cap elimination is where the solution lies. That is the REAL help that EB3-Retro wants. Any short term fix purely out of sympathy, empathy, humanity, kindness is not recogniszed by law.
I know people will pile on for speaking plainly and in a matter of fact manner, but I am amazed at the innuendo, implications and lack of straight talk.
Everyone irrespective of what category he or she is would very easily realize that Eb3I needs help, else it is going nowhere. By reading comments in this thread, my fear is coming true that the help needed may not come from IV. Once all EB2 people get their GC, there would be no further fight for EB3.
Sure EB3-I needs help, but if the help is in the form of taking numbers away from EB2 and giving them to EB3 just based on the length of wait, then I have my serious objections to this proposal. I have said openly that I will object to it - I have never seen a post that says plainly - Yes EB3-I is stuck for 7-8 years and therefore they want numbers from EB2 because EB2 has moved ahead by 2 years. The irony is that all earlier posts imply this and talk about this request for handover in a very general way (75/25 break up, recession, lawyer input, etc).
Visa recapture, country cap elimination is where the solution lies. That is the REAL help that EB3-Retro wants. Any short term fix purely out of sympathy, empathy, humanity, kindness is not recogniszed by law.
I know people will pile on for speaking plainly and in a matter of fact manner, but I am amazed at the innuendo, implications and lack of straight talk.
sc3
08-05 06:41 PM
Come on!, give me a break. You guys are now worried that EB3 will spoil your (what I still consider, ill gotten) party by PD porting. You now come up with arguments about what is EB2.
First argument: "EB2 requires advanced degree"
If that is the case, there is no one who is eligible for Eb2, as "Advanced degrees" is not a degree that is offered by any university in US. Mostly the ones I know offer, Masters and PHD and likes. No one says I am offering "advanced degree". ;)
Further more, advanced degree is subjective. Bachelors is advanced compared to Diploma, which is advanced compared to 10th passed, which is advanced compared someone who failed 10th.
Second: It is not fair to allow EB3s to port.
It is in the law. that part is not grounds for a lawsuit. If you still want to complain, then complain about the fact that AC21 allows you to jump jobs without even getting your GC.
Third (these are my own points)
When people got their F1, they said there are here without immigrant intention. Why is USCIS giving them H1 and then also accepting GCs for them. Come to think of it, OPT is not required by any university for granting the degree, so why are F1s even allowed to work??
The point I am trying to make is that if you try to open one can of worms, everyone else has a Costo or a Sams club to go to and buy a boat load of cans of worms to open - that is going to put you in a bad situation.
First argument: "EB2 requires advanced degree"
If that is the case, there is no one who is eligible for Eb2, as "Advanced degrees" is not a degree that is offered by any university in US. Mostly the ones I know offer, Masters and PHD and likes. No one says I am offering "advanced degree". ;)
Further more, advanced degree is subjective. Bachelors is advanced compared to Diploma, which is advanced compared to 10th passed, which is advanced compared someone who failed 10th.
Second: It is not fair to allow EB3s to port.
It is in the law. that part is not grounds for a lawsuit. If you still want to complain, then complain about the fact that AC21 allows you to jump jobs without even getting your GC.
Third (these are my own points)
When people got their F1, they said there are here without immigrant intention. Why is USCIS giving them H1 and then also accepting GCs for them. Come to think of it, OPT is not required by any university for granting the degree, so why are F1s even allowed to work??
The point I am trying to make is that if you try to open one can of worms, everyone else has a Costo or a Sams club to go to and buy a boat load of cans of worms to open - that is going to put you in a bad situation.
psvk
08-05 06:02 PM
We always hear "the rules" from the female side. Now here are the rules from the male side. These are our rules! Print this out and pass to your partner for a greater understanding:
.
Could not stop laughing on most of them. Thanks to all.
Most of them on the same topic. Hope you guys not having FUN(!) at home :D:D
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Could not stop laughing on most of them. Thanks to all.
Most of them on the same topic. Hope you guys not having FUN(!) at home :D:D
