[AsburyPark] Consequences from Wall Street to Asbury Park
What happened on Wall Street will have consequences for AP and possibly the world. We are AP focused so... How many AP residents worked for Lehman Bros? I don't know, but I'd venture to guess a few. How many are mortgage loan officers who originated loans securitized by Lehman? I'd say a lot more. How many are realtors who can no longer sell properties to buyers without a 20% downpayment who also have to qualify for a much more stringent mortgage? AP has a lot of realtors. Now how about the regular average person who wanted to buy a house here. He or she may not be able to. How about all of the people who would have bought a nice condo near the beach for a weekend house and no longer can? How does that trickle down? These giant companies didn't just employ investment bankers. They employed IT, office managers, administrative assistants, janitors, security guards and well you get it. I am only looking at it from one perspective, but consequences have not even begun yet. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, justifiedright [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com, Gabrielle Obre gabrielleobre@ wrote: thanks for this..I would add that we are ALL as Americans saddled with the 700 bil debt. Is it debt or an equity position? That's the question that will eventually be answered - we may be dead by then. I did my part yesterday. I purchased an american car. Granted, the gas mileage isn't that great. I didn't look to see where the car was actaully (or parts) were made, but it's as american as it gets. Jeep. The investment houses got what they want - the right to bank and eventaully insurance all under one roof. Money will made. Regional banks with good branches will become targets. Name the bank(s) prior to Wachovia in our area all sucked up into W. New jersey National, corestate, meridian... Opportunity for banking in AP - like luring a bank to go on the west side. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, justifiedright [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com, Gabrielle Obre gabrielleobre@ wrote: thanks for this..I would add that we are ALL as Americans saddled with the 700 bil debt. Is it debt or an equity position? On bloomberg radio now, the fed/senate discussion on the crisis... ...the problems started years ago...with flaws in the system... Blame on homeowners who tool out mortages they couldn't afford...and on some banks who had liberal checks and balances Forget the enablers - bankers, brokers, attorneys, appraisers and the one who signed the note. Can I just waive my credit card balance good buy - so that I am stronger for tomorrow's economy. The govt will create new vehicles to which to move this Bad debt so that someone, somwhere will be able to place a value on this hard to value debt so that the new bad debt can be sold toinvestors.. PS, that's actaully done today. Large investors can bay Bad debt portfolios and carry these money losing companies as a tax loss - or sell the tax losses for a profit. It's more complicated - but it's legit. Merrill dumped alot of their bad debt at .22/dollar. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
Is it debt or an equity position? naomi klein refers to it as debt. but it may be debt packaged as securities...which would make the value of the equity position dependent on the repayment of the debt... right? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, oakdorf [EMAIL PROTECTED] wrote: Opportunity for banking in AP - like luring a bank to go on the west side. That's my Dave, never stop selling Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] To all The Singles out There
Hey, You Single Person who also likes to volunteer from time to time Looking for something to do tonight Come on over to the Langosta Lounge 1000 Ocean Avenue On the boardwalk between 2nd 3rd, Asbury Park Synergy-Singles in Community Service is having a meet greet at 7PM for more info check out www.bizeturtle.com/synergyevent.html Lynn H Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
No it would still be equity. --- In AsburyPark@yahoogroups.com, Gabrielle Obre [EMAIL PROTECTED] wrote: Is it debt or an equity position? naomi klein refers to it as debt. but it may be debt packaged as securities...which would make the value of the equity position dependent on the repayment of the debt... right? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Baronet/Fastlane
It was previously mentioned how the Fastlane coming attractions sign had been taken down... but I dont recall reading anything else about it. But anyways, if this hasn't already been mentioned, the Baronet has also had its coming attraction signs taken down, as well as the red lettering from the canopy (not the giant Baronet sign atop it yet, just the BARONET THEATRE lettering on the side of the canopy). Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
It is negative equity. The value is no longer enough to securitize the amount of the debt. Mortgages are secured by real property then bundled together and sold as mortgage backed securities. When property values drop then the securities lose value. NEDAP has a good chart on securitization on their web site http://www.nedap.org/resources/documents/onepagesecuritization2000p.pd f I didn't even mention in my first post all of the AP residents who may face losing their homes. This applies to both owners and tenants. How many are out there in loans they can no longer pay? How many are tenants of landlords who tapped their equity or qualified under relaxed underwriting guidelines? I have no idea. I wondered as I listened to the congressional hearings today why they aren't bailing out the homeowners? Wouldn't this secure the equity? If only my loss mitigation counselors had better tools and options!!! I don't even need a huge bailout. All I need is some sort of forgivable forbearance for some of the people in over their head. Well maybe once the rich guys start to find paying their mortgages impossible? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, Jennifer [EMAIL PROTECTED] wrote: Well maybe once the rich guys start to find paying their mortgages impossible? I think Jen is real smart. Why are these owners in over their head? a) misled on mortgage by banker, broker AND attorney who should double check papers b) they lied as to income c) those responsible for paying lost job(s) How about all mortage applicants have to go to an independet third party for final approval. Kind of like an appraiser providing a neutral opinion based on facts on property value. The third party loan officer is the appraiser - reviews all loan docs and the applicant and appraisal... after that check - then the loan is approved. Sounds like a pretty good business... It's not the rich guys fault (unless they are the ones that gave the loan). You have to have SOME accountability. Basic math tells you what you can afford. Now that I just got declined an a new auto purchase with more then half down, I have to stop posting and go to plans d,e,f. Two applicants, both work, a couple lates here and there. Half down on a new car that is selling for 30% off sticker. And I get denied. So lets tie this back to AP. On Bloomberg, Barclay's purchase of Lehman may lead to about 5,000 jobs being lost in NYC area, based on monies set aside for retention, job training etc. Banks in general are just holder's of someone else's asset - your social sec number or tax id number. That's why it's easy to close 'em and transfer the money. A generic product. Does it really matter if your bank is Chase or Bank of Asbury? For the most part, no. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
Re: [AsburyPark] Re: Consequences from Wall Street to Asbury Park
Debt. The equity position your thinking of is Socialist Sweden, who the Bushies looked to to see how they handled a similar bank failure. The Paulson plan includes no equity for the taxpayer. On Sep 23, 2008, at 10:06 AM, justifiedright wrote: --- In AsburyPark@yahoogroups.com, Gabrielle Obre [EMAIL PROTECTED] wrote: thanks for this..I would add that we are ALL as Americans saddled with the 700 bil debt. Is it debt or an equity position? [Non-text portions of this message have been removed] Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, oakdorf [EMAIL PROTECTED] wrote: How about all mortage applicants have to go to an independet third party for final approval. Kind of like an appraiser providing a neutral opinion based on facts on property value. The third party loan officer is the appraiser - reviews all loan docs and the applicant and appraisal... after that check - then the loan is approved. Sounds like a pretty good business... You've proposed some good ideas on this board, but respectfully this isn't one of them. To me access to capital is akin to a civil right. Do you really want some strong arm deciding capital goes here, capital doesn't go there. No way. I'll decide my own fate, thanks. How far removed are you from your Jewish roots? Do you think great grandfather Dorfman didn't have to figure out some way to capitalize his business becuause WASP banker wouldn't give him a loan? Go ask Michael Milken about that. It's exactly why and how he rose to power, and why they tore him down. And that wasn't that long ago. I'm sure Black people posting to this board will understand what I'm saying. Bad enough my ability to run my life depends upon what three digit number some horse's ass at the credit rating agency gives me. Don't put another strong arm on me. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
According to the enabling legislation for Paulson's plan, we are buying assets. We are going to sell Treasury Bonds to fund it, but that's not a debt unless the assets we are buying don't cover. To say we are buying debts of the mortgagees is a terrible misnomer of the plan. Here's the plan: Published: September 20, 2008 LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS Section 1. Short Title. This Act may be cited as . Sec. 2. Purchases of Mortgage-Related Assets. (a) Authority to Purchase.--The Secretary is authorized to purchase, and to make and fund commitments to purchase, on such terms and conditions as determined by the Secretary, mortgage-related assets from any financial institution having its headquarters in the United States. (b) Necessary Actions.--The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation: (1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties; (2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts; (3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them; (4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and (5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act. Sec. 3. Considerations. In exercising the authorities granted in this Act, the Secretary shall take into consideration means for-- (1) providing stability or preventing disruption to the financial markets or banking system; and (2) protecting the taxpayer. Sec. 4. Reports to Congress. Within three months of the first exercise of the authority granted in section 2(a), and semiannually thereafter, the Secretary shall report to the Committees on the Budget, Financial Services, and Ways and Means of the House of Representatives and the Committees on the Budget, Finance, and Banking, Housing, and Urban Affairs of the Senate with respect to the authorities exercised under this Act and the considerations required by section 3. Sec. 5. Rights; Management; Sale of Mortgage-Related Assets. (a) Exercise of Rights.--The Secretary may, at any time, exercise any rights received in connection with mortgage-related assets purchased under this Act. (b) Management of Mortgage-Related Assets.--The Secretary shall have authority to manage mortgage-related assets purchased under this Act, including revenues and portfolio risks therefrom. (c) Sale of Mortgage-Related Assets.--The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act. (d) Application of Sunset to Mortgage-Related Assets.--The authority of the Secretary to hold any mortgage-related asset purchased under this Act before the termination date in section 9, or to purchase or fund the purchase of a mortgage-related asset under a commitment entered into before the termination date in section 9, is not subject to the provisions of section 9. Sec. 6. Maximum Amount of Authorized Purchases. The Secretary's authority to purchase mortgage-related assets under this Act shall be limited to $700,000,000,000 outstanding at any one time Sec. 7. Funding. For the purpose of the authorities granted in this Act, and for the costs of administering those authorities, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under chapter 31 of title 31, United States Code, are extended to include actions authorized by this Act, including the payment of administrative expenses. Any funds expended for actions authorized by this Act, including the payment of administrative expenses, shall be deemed appropriated at the time of such expenditure. Sec. 8. Review. Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency. Sec. 9. Termination of Authority. The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act. Sec. 10. Increase in Statutory Limit on the Public Debt.
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, justifiedright [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com, oakdorf oakdorf@ wrote: grandfather Dorfman didn't have to figure out some way to capitalize his business becuause WASP banker wouldn't give him a loan? Not the best biz minds in those roots. He worked hard, paid for the chicken farm himself, then dropped dead at 50the only thing my grandmother said was that if he had a dime left in his pocket, he'd figure out how to spend it. Why not a counselor for first time mortgage borrowers. There's quite a few attorney's who have done closings (or their staff) that only read the signature line. They're wouldn't flat out deny your loan - just add a verifcation level. It's a good 3rd party biz to sell to banks. Forget your rights attorney... Isn't an appraisal/er also the strong arm that decides if you need more money down?? Your Down payment is based on the Purchase price - but really your appraisal. What if they arrested all the people who fudged the mortgage app to qualify- like they arrested people for downloading music? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
I am prejudiced because I have worked in housing counseling since 1994, but I agree. If everyone had a counselor to work with before they took out a mortgage then you would decrease the number of people who ended up in crazy mortgages. You could never completely eradicate it unless counselors were required to sign off on the loan choice, but that's a bit too much. How about mandatory first time homebuyer classes? At least educate people that they have options. Right now, people take advice from those who make a commission off of their decision. Never a great situation IMHO. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, Jennifer [EMAIL PROTECTED] wrote: I am prejudiced because I have worked in housing counseling since 1994, but I agree. If everyone had a counselor to work with before they took out a mortgage then you would decrease the number of people who ended up in crazy mortgages. You could never completely eradicate it unless counselors were required to sign off on the loan choice, but that's a bit too much. How about mandatory first time homebuyer classes? At least educate people that they have options. Right now, people take advice from those who make a commission off of their decision. Never a great situation IMHO. Jennifer let me guess - in the counseling laws you propose above, you wil insist the counselors have immunity from lawsuits if they give bad advice. You'll want to be completely unaccountable for your actions. Am I correct, or will the counselors be accountable for the advice they give? It's your law - you're proposing it. What say you? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, justifiedright [EMAIL PROTECTED] wrote: It's your law - you're proposing it. What say you? Well the borrowers who signed their notes aren't going to be tossed in jail (unless it's real real fraud) No one takes into account TAXES that have to be paid and the likely hood that they always go up, as does cost of living. How many loan officers and columns tell you that before you go buy a house, don't buy a car or anything large... until AFTER you get your house? Just eliminate property taxes across the board. That money property owners save, they can just go and dump it back in the economy. I got dragged to Jersey Gardens on Saturday. You'd think they were giving the mall away. Packed. So what is when the Fed Gov pays about 90% of a person's housing costs in M County, PLUS food, education, insurance, training etc? There are people that truly need the system and others ..you just have to KNOW the system and get what you want... I have to go and figure out to get this car loan now. Tommy can you sue the CONSUMER credit rating agencies for missing one major factor in the formula ? Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
Tommy, I am not proposing a law. I just feel that knowledge would have helped many people avoid mistakes. I think that mandatory education which covers all aspects of homeownership, but does not replace legal counsel is a good idea. I am a housing counselor. I've run counseling programs and trained counselors for a long time. I've never been sued because counselors do not tell people what to do. They offer them knowledge and give them the tools to make their own decision. Counselors are educated and certified. I currently train housing counselors and their partners (some of whom are legal aid lawyers). I teach counselors that they can only give people an understanding of lending practices. I can't and wouldn't decide for them. Suing your housing counselor for teaching you something you didn't or chose not to learn would be like suing your math teacher because you bounced a check. You can't make people choose the best options. I know that. Some will always go for the quick and easy path even if it runs off of a cliff, but many would have chosen differently with the advice of a housing counselor. What is wrong with that? Jennifer Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, oakdorf [EMAIL PROTECTED] wrote: I have to go and figure out to get this car loan now. Tommy can you sue the CONSUMER credit rating agencies for missing one major factor in the formula ? Google the Fair Credit Reporting Act. Haven't read it in awhile. Can't remember if the reporting agency is on the hook or the alleged creditor. I think it's just the creditor, but I could be wrong. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
Re: [AsburyPark] Baronet/Fastlane
Their days are numbered... Removing lettering and exterior features are some serious signs! [Non-text portions of this message have been removed] Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
The burden of proof is on the creditor. You can and should dispute your credit report with the credit reporting agency. If the creditor doesn't provide proof then the CRA must remove the information. You can also request that the CRA put information on your report (ex: If you have a proof of payment just send a copy to the CRA). I teach the Fair Credit Reporting Act and all of the other consumer protection laws in my homebuyer class. Jennifer Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, Jennifer [EMAIL PROTECTED] wrote: I teach the Fair Credit Reporting Act and all of the other consumer protection laws in my homebuyer class. Jennifer The credit score is used not judge the credit worthiness of the borrower, but to add extra costs - higher rates, additional fees etc and STILL approve a loan - to someone who really might not be qualified, based on the real facts. It's all used for everything else in your life. So if you shop for a loan and they pull ur credit - you screw yourself by shopping for a loan. I got denied in about 30 seconds today by BOA online. And we just closed out a car loan with them - that was paid on time and for quite a bit more $. This loan SHOULD be a no-brainer. They should hope I walk from the loan. Technically - over-extended. Done posting. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
--- In AsburyPark@yahoogroups.com, Jennifer [EMAIL PROTECTED] wrote: Tommy, I am not proposing a law. I just feel that knowledge would have helped many people avoid mistakes. I think that mandatory education which covers all aspects of homeownership, but does not replace legal counsel is a good idea. See your use of the word mandatory up there? That means you are proposing a law. Let me compare your job to mine: I've never been sued because counselors do not tell people what to do. They offer them knowledge and give them the tools to make their own decision. Our jobs are the same - I don't make people's decisions either, rather give them advice like you do. Counselors are educated and certified. Our jobs are the same there too. Some will always go for the quick and easy path even if it runs off of a cliff, but many would have chosen differently with the advice of a housing counselor. Our jobs are the same there. So why should I get sued if my advice turns out to be bad, but you're off the hook if your advice is bad? Oakdorf can get sued for bad advice. Dan S can get sued for bad advice. Why should you be off the hook? ps - I'm just having some fun, so don't hold it against me. All academic quesions, but still fun. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Consequences from Wall Street to Asbury Park
I know EXACTLY what you mean by that Dave. Credit Reporting is a giant scam to charge you higher interest rates. Here's my horror story: I had a Pitney Bowes postage account. I would download postage on credit, $500.00 at a time. I never made minumum payments. Always paid the full $500 so I'd always have plenty of postage. After a year Pitney calls me: Tom you are a great payer. We want to reward you and raise your credit limit to $800.00 Fine I say. Found out later that Pitney Bowes pulled my credit after I said OK to make sure they really wanted to raise it. They did raise it. But the fact that THEY SIMPLY PULLED THE CREDIT REPORT made my score go down 7 points. Moral of the story: I paid on time, and my credit score went down. I have more but I won't bore you. --- In AsburyPark@yahoogroups.com, oakdorf [EMAIL PROTECTED] wrote: --- In AsburyPark@yahoogroups.com, Jennifer jennifernjca@ wrote: I teach the Fair Credit Reporting Act and all of the other consumer protection laws in my homebuyer class. Jennifer The credit score is used not judge the credit worthiness of the borrower, but to add extra costs - higher rates, additional fees etc and STILL approve a loan - to someone who really might not be qualified, based on the real facts. It's all used for everything else in your life. So if you shop for a loan and they pull ur credit - you screw yourself by shopping for a loan. I got denied in about 30 seconds today by BOA online. And we just closed out a car loan with them - that was paid on time and for quite a bit more $. This loan SHOULD be a no-brainer. They should hope I walk from the loan. Technically - over-extended. Done posting. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Baronet/Fastlane
--- In AsburyPark@yahoogroups.com, charlie [EMAIL PROTECTED] wrote: Their days are numbered... Removing lettering and exterior features are some serious signs! I find it odd that they removed these things... we didn't hear of the historical society taking them (unless someone here knows otherwise). If the buildings are being demolished soon, why are they taking things off of them... why not just demolish everything then throw them in the dumpsters with the rest of the building. Something doesnt seem right. I think one possibility is that they are just going to paint both of the buildings completely gray or white or something, like they've horribly done to some other buildings, most notably their offices. Another possibility is that they are going to reuse the coming attraction signs on other venues like the Wonder Bar etc, and the lettering for the Baronet was just saved like the Metropolitan Hotel signs. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] New Jersey Gay Men's Choir
I want to let everyone in town know that New Jersey Gay Men's Choir is singing at Restaurant Plan B 705 Cookman Ave .. for first saturday.. October 4th.. please come and support this great group. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Friday Night Lights: Asbury Park vs Rumson-Fair Haven
The Asbury Park Blue Bishops, ranked No. 1 in the Asbury Park Press Top 10 high school football teams, visit Rumson-Fair Haven Friday night at 7 p.m. The Bishops have the longet current winning streak at the shore. The last team to beat them was RFH in the opening game last season. Yahoo! Groups Links * To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ * Your email settings: Individual Email | Traditional * To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) * To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] * To unsubscribe from this group, send an email to: [EMAIL PROTECTED] * Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
