TEAMBLOG

Dear Friends,

If you are a regular reader to the TeamBlog, you have definitely noticed we are not your typical mortgage company. We certainly discuss basic facts in regards to mortgage rates, underwriting guidelines and valuable tips on the documentation needed in order to expedite the processing of one's loan. We also help in other ways by giving discounts on fees for appraisals and other items. There are also discussions regarding the future of the mortgage industry and where interest rates are headed. Most mortgage companies are able to recommend a plan of action for your particular loan request. At MoneyTeam, we too are eager to give all our clients the guidance required for the best decision under most circumstances.

However, when we see the turmoil and the chaos associated with the financial distress many Americans are currently suffering, one is compelled to speak up and mention the abuses and the burdens this nation is facing from the cowardice of those that have placed us in this precarious position. 

Power in the hands of incompetent, corrupt and untrustworthy politicians and those in the business sector, has created an economic debacle not seen during our lifetimes. While the Recession in the late 1970's and early 1980's rivals our current financial calamities, the continued preponderance of foreclosures, job loss, the destruction of manufacturing and our auto industry is just too much for a nation to absorb. Perhaps, with natural disasters of earthquakes, tornados, hurricanes, wildfires and floods at every turn, it's no wonder many of us are pondering if we are experiencing the last days. 

In this melange, we are also experiencing the decline of the human condition where integrity and honesty are no longer viewed as virtues. We are becoming a nation devoid of spirit with a deluge of secular viewpoints usurping the natural inclination of liberty and the pursuit of happiness as fostered by the high ideals of Washington, Madison, Jefferson and Lincoln. When we have a government unable or unwilling to administer the power given by the citizens of this country in a manner worthy of its Founding Fathers, the entire basis of democratic principles begins to unravel.

I have spoken to former and current clients, to friends and acquaintances in my capacity and in my ability to provide intelligent and thought provoking opinions in regards to the health of this country.

The drive to stabilize a nation by fostering socialist philosophies in which government intervention in all facets of our existence as the model imposed by the powerful - this is the diatribe which will ultimately disassemble the quest for a perfect union many of us have known and have taken for granted throughout our bountiful lives. When the economy continues to foster a chronic and unsustainable drive towards an unrecognizable hybrid form of capitalism, this will be the day our Republic is driven to its abyss.

The Dealerships

My heart goes out to the many Chrysler and GM dealerships across the country closing their doors. To see this happening before our eyes is tragic. The loss of jobs in small cities and towns throughout this country is the proverbial nail designated to pound on the coffin of American culture and its glorious character. The dishonest and irrational approach of closing dealerships in order to gain market share and revive the American auto industry is a plan only a government bureaucrat could devise.

Let's say I wanted to purchase a Chrysler vehicle in my home town. I just found out today the dealership will be closing their doors and the closest Chrysler dealer is over 100 miles away. This makes it more than likely that I'd think twice before I would buy. It doesn't make sense to purchase a car and have it serviced in the future if you have to drive 100 miles to do so! Common sense is no longer the driving force in many minds and it's lying dormant waiting for the day one can grasp the mantle of leadership this country so desperately needs!

California's Special Election On Tuesday, May 19th

Vote NO!

On ALL the propositions. The politicians in California are not suffering from Swine Flu. It is obvious to any taxpayer in this state, the Governor and the State Legislature are suffering from an addiction to tax anything and everything in order to appease powerful interest groups at the demise of hardworking middle-class Californians. We are not millionaires, we don't smoke Cuban cigars and we do not dye our hair to mask insecurity and we are not impressed with movie stars or has beens. We are exhausted with the 'high society' crowd of the wannabe rich and famous that have no concept of the struggles and the challenges of small business owners or those working at minimum wage levels to provide a roof over their heads or a meal for their family.

Enough of continual tax increases. Do the right thing! VOTE NO on all the measures on the ballot this Tuesday. You, your family, your neighbors and friends will respect your decision as we try to control our destinies from those unable to appreciate the sacrifice we've made to achieve our American dream.

Check www.hjta.org for more information on Proposition 1A. There's no need to vote for additional taxes for another 2 years!

Memorial Day

Our office will be closed on Friday at 2PM, May 22nd. We will open promptly at 10AM on Tuesday, May 26th. Memorial Day is a sacred holiday when we remember the sacrifices made by young men and women for the liberty we have today. Never forget those that have lost their lives so we can live in freedom. Say a prayer for our forces throughout the world and in harms way. In today's America, do your best to never take freedom and our Constitutional rights for granted.

Thanks Again    

Dear Friends,

As told in Scripture, we are made aware of a beaming, bright flash of light from Heaven which struck Paul on the road to Damascus. The light temporarily blinded Paul for up to 3 days. The Lord insisted that Paul continue his journey where he would meet several Christian followers. Paul obeyed and in a short span of time he understood the workings of the Lord. Paul was enlightened and grasped the wisdom and knowledge of eternal life. From this conversion, Paul ceases to end his bitter hatred of Christians and begins an 'Epiphany' wherein he appreciates the suffering and sacrifice of the Lord and begins to embrace a direction where a life of substance, character and forgiveness is the path to spiritual freedom.

I mention the 'Damascus Conversion' as highlighting the pain and suffering many Americans continue to experience with no end in sight. In times of dramatic upheaval as we are witnessing, many of us seek guidance not from our family, friends, coworkers or government but from the Almighty Himself.

For many Americans, everything is upside down financially. We hear of better days ahead from persons unaffected by the Recession. Politicians, Government Bureaucrats, Millionaires, Wall Street Executives, Hollywood Celebrities and the Main Street Media are all excited to impress others by their willingness to advise Americans there is a 'light at the end of the tunnel' or there are sightings of 'green shoots' where economic suffering will end by the 4th Quarter of this year. However, I must caution if the economy continues its peripatetic displays of withdrawal from the free enterprise system, the consequences of socialism will be the direct result. The bankruptcy of General Motors where over 60% of its ownership will be controlled by the Federal Government is a case in point.

The chronic pursuit of intervention in all matters is the current mindset of government bureaucrats. The private sector one reasons, is incapable of delivering goods to the public at large in an efficient manner or unable to sustain a profit. Without profits, the ability of government to garner income by its enforcement of taxes is in question. The incessant control of redistributing wealth, is the ultimate goal of the newest paradigm waiting for its debut, similar in concept to the novels written by such authors as Aldous Huxley in a 'Brave New World' and George Orwell's '1984'.   

As the owner of a mortgage company, I've been privy to speak with many of our former and newest clients in regards to the financial meltdown which continues unabated to this day. The concern of many is the possibility of losing one's job, the ability of securing financing under today's strict underwriting guidelines and the likelihood of continued lower interest rates. Moreover, the decline in the value of real estate and the escalation of foreclosures has many Americans anxious about their investments.

All told, we are weary of daily earthquakes in the financial markets. The loss of the auto industry, the addition of countless Americans on unemployment lines and the loss of one's home has depressed the natural optimism once displayed in times past.

America is at a crossroads. Ever since we were 'duped' by the previous Administraton with the approval of Congress last year on the necessity of a $700 Billion Stimulus to save our economy from the brink of Depression, we have unwittingly given power to those same elements in Congress and the current Administration to continue the spending spree by their request of additional bailout monies in the Trillions for Wall Street interests and the newest US Budget. The financial health of this country has markedly become worse.

I and many Americans no longer believe the talking heads on television whether they be economists or politicians extolling facts and figures which are made up in thin air. As mentioned earlier, we are also weary of the deluge of media concerns heralding the end of the 'Recession' by years end and the government prognosticators proverbial function to raise false optimism by engineering its message in such a manner to defy incredulity.

In any financial dealing, caution is recommended. Always be frugal in your approach to money. The future looks murky at best. I hope I'm wrong but I see the following economic situations which will attack the fortunes of all Americans.

1. Additional tidal wave of FORECLOSURES. Adjustable loans and ALT-A 'Stated Income' loans are now coming to maturity during the next 18 months. You will also see COMMERCIAL properties becoming affected.

2. There will be attempts by Congress and the Administration to propose additional TAXES to pay for the Trillion dollars in spending. Your State or Municipality might have the same idea to garner additional revenues.

3. Due to the Trillion Dollar spending spree, there will be INFLATION. When the Treasury continues to produce paper money to pay for money we do not have, this is the beginning of prices of all goods inching upward. 

4. When INFLATION hits, you will also see the rise in short term INTEREST RATES. Just last week, mortgage rates skyrocketed to over a 1/2 a point. MoneyTeam was offering 4.5% at 1 point for a 30 Year Fixed loan on Monday. By Thursday, the rate went up to 4.875%. You must understand the workings of the BOND MARKET. Always check the 10 Year Treasury. When there are INFLATION jitters or if there is a sense the economy is improving, short term interest rates are unfavorable.

5. When INTEREST RATES rise, many buyers will be unable to purchase property or refinance due to the inability to qualify for a MORTGAGE. With new stringent underwriting guidelines, the requirements for a PRE-APPROVAL are at risk.

6. The value of the US DOLLAR will continue losing value against the Euro, Yen and other foreign currencies. The World will no longer have faith in the Dollar due to the direct results of the US economy. When this happens, you will notice foreigners eager to buy American real estate at depressed fire sale prices. This activity in itself is dangerous as foreign interests are usurping the sovereignty of Americans by elevating its percentage of ownership. Having foreign concerns gobble up the country gives too much power and voice to their interests.

7. UNEMPLOYMENT will continue to rise to double digits. When there are no jobs to be found, the spiraling effects of an economy in a freefall is obvious. Without money coming in, mortgages are unable to be paid. Many Americans are facing this reality today where money for food, medicine or basic needs to live are no longer being met.

This is just a short list of additional consequences America will endure in the months to come. We all need to take a deep breath and logically question the information we are provided by economists, politicians and the media in general in regards to the health of the economy.

When I spoke about Paul and the 'Damascus Conversion', he became aware of his shortsightedness. I for one have become skeptical of statistics, figures and all statements provided by the news media and bureaucrats in regards to the economy. I considered myself too trusting or naive when Congress or advisers in the White House address issues where an altruistic approach and a truthful response to queries from the American public is expected. It is sad to say once again, that I was wrong to think politicians are devoted to public service.

All Americans have a duty to read between the lines, ask questions and devote their time in seeking the truth. Now more than ever, the future of this country is in our hands. Men of character in the political realm are still around. It's our job to find them and show them the way out of this financial mess before we lose everything. 

Thanks Again     

Dear Friends,

Yesterday I attended church services as I always do on Sundays and the last song our beloved congregation sung was AMERICA. In a tribute to the many men and women that have lost their lives on the battlefield, the lyrics come to life and give comfort to those that have given the ultimate sacrifice for our freedom and to those friends and family members never to see their loved ones again.

We know in our hearts we will see them again in a better world where peace, love and the conviction of our faith will restore the bonds of our past. 

When we age there are revelations that are discovered and acted upon. Perhaps, the attainment of wisdom in various degrees is the reward for the sacrifices given by others for our liberty.

Today is a Sacred Day. Give of yourself so AMERICA can continue the ultimate responsibility bestowed by the Almighty to be peacemakers in a world where freedom and democratic principles are nowhere to be found.

While I was not born in AMERICA, I have the fervor and the demonstrable appreciation this nation has afforded many Cubans from the tyranny of a Communist government. The 'land where my fathers died' can also be attributed to all nations where freedom does not exist and the perseverance of brave warriors and patriots, in their desires to end the scourge of depotism, are victorious once and for all.

Many of us that have immigrated to this country from hostile and abusive regimes are grateful for AMERICA and the opportunities this nation offers for a better and productive life. My parents did not immigrate to AMERICA by sacrificing their lives or their children's to a country fostering socialist ideals. Unfortunately, there are naive Americans unfamiliar with the destructive ideologies of living in a society where socialism requires the cessation of individual sovereignty. The manipulation of powerful interests in AMERICA to label such efforts as necessary for economic survival, are thoughts contrary to the beliefs of our Founding Fathers and are detrimental to human rights.

Notwithstanding, the verses to AMERICA are alive today and resonates in the hearts of those eager to live in freedom.

'AMERICA' was written by Samuel F. Smith and performed publicly for the first time on July 4th, 1831 just 55 years from our nation's Independence!

Please see the following websites:

http://nethymnal.org/htm/m/c/mctisoft.htm

www.usflag.org/songs.html#A

Let Freedom Ring!

Thanks Again

Dear Friends,

This coming Sunday, the entire world will celebrate Mother's Day! This is the day when we remember our Mother and the joy she brings us by her devoted love and kindness.

For many of us, our Mothers are deceased. Even though she is not with us physically, the care and the nurturing our Mothers provided during our lives will always be remembered fondly and with deep warmth.

There is a natural spiritual bonding which can be attributed to a Mother's love for her children. There is the responsibility of guiding her son or daughter to live a life of substance and character. Honesty and integrity are truly the rewards in which children can demonstrate upon their loving parents as a testament to their unfailing love throughout their daily lives. Children can lift their spirits and those of others by the ebullience of energy and joy freely given due to a Mother's example.

In today's society, we have heard or read of Mothers that have neglected and abused their children. While there have been Mothers portrayed in disturbing and frightening fashion similar to 'Mommie Dearest', we inherently know these are rare and sad episodes of dysfunctional behavior. 

I am grateful to know a Mother's Heart is pure and her love is unconditional. Our personalities are formed during our experiences in childhood. Many of us are truly grateful we are living honorable lives with purpose due to the guidance and the moral principles practiced by our beloved parents in the home. Our home can be considered a  Sanctuary of comfort and security when a Mother's wholesome influence is recognized. This Mother's Day give your best and longest hug you can to the most wonderful woman in your life! For those unable to be with their Mothers, reflect on the splendid times you've spent and always knowing one day you will be with her once again.

Happy Mothers' Day! 

Mortgage Rates & Turnaround Times

Due to cautiously optimistic financial news in regards to lower unemployment figures and public confidence in the economy, mortgage rates have begun an upward spiral. If you are considering a loan, now could be the best time to apply. There has been an influx of activity in the mortgage market which has delayed underwriting times considerably.

Loan Modifications, Refinances, Purchases, Short Sales, Foreclosures and the lowering of interest rates to 40 year lows, has gutted the mortgage market by adding extra burdens to a challenging degree. Underwriting turnaround times are from 4 to 30 business days from submission to loan approval. We encourage anyone contemplating on applying for a loan, to do so quickly as delays are causing havoc on loan fundings. Our newest experience in prolonging of a timely escrow is due to the HVCC guidelines for the ordering of appraisals. As mentioned in a previous TeamBlog, mortgage brokers are not allowed to order appraisals. The lender now has the sole responsibility for this. Our office has notice delays of up to 2 weeks or more for an appraisal to be completed. We urge you to be proactive and apply for your loan today! Please call our office for more details by calling 323-936-3232.

Team Appraisal Offer

If you've read our TeamBlog this far, we have an offer for you. Apply for a loan by Friday, May 15th and we'll pay for your appraisal up to $350! The appraisal fee will be rebated to you after the close of escrow.

California Election - Vote NO!

MoneyTeam recommends all Californians to vote NO on all the propositions on the May 19th ballot. In a previous TeamBlog, we mentioned the deleterious effects of prolonged tax increases. These ballot measures are designed to obfuscate the true intentions of the Governor and the State Legislature in their desire for Californians to extend paying of taxes for another 2 years! 

Do not be swayed by the pretty television advertisements showing citizens from all walks of life agreeing or recommending us to vote for the propositions. If you sat down with these folks and showed them the unvarnished truth, they would vote NO in an instant! Please check the Howard Jarvis website www.hjta.org for more information on voting NO on Proposition 1A.

Dom & Dean

To know that Dom Deluise has left us for the Big Pepperoni in the sky is a bittersweet thought that crosses my mind this weekend. We all know he had a big heart and was excruciatingly funny! His involvement in hilarious roles throughout a long career in entertainment will always be remembered. The photo shown above was taken during his stint on the Dean Martin Show in the early 70's.

A father to 3 talented sons and a devoted wife, Dom lived a blessed life. There are many of us that will miss this big guy's cooking!

Thanks Again  

Dear Friends,

One of the best ways to live in a world laden with financial anxiety is to have no debts. This is the greatest reward for anyone unable to cope with the chronic headache of calls from bill collectors or the dread of making ends meet by living  paycheck to paycheck with no end in sight. 

There has to be a time that one must take the bull by the horns and begin the transformation for control of one's destiny. The elimination of debt is the greatest goal one can achieve, to gain the peace of mind all of us are meant to enjoy.

What is an average American to do? How are we to end the burdens and struggles of foreclosure, the loss of employment or the pain in witnessing a family unable to have a nourishing meal. In order to alleviate these scenarios, one must begin the process to stop the flow of negativity caused by the volume of debt. These circumstances can cause depression and can overwhelm one with a sense of foreboding and despair. It's easier said than done to lift one's mood and display optimism when you're in the middle of a firestorm. Even though this may be a temporary chapter in life, one's character in overcoming these obstacles will be displayed for all to notice.

How does one person end this cycle of debt? The simple answer is not to spend frivolously and save as much money as you can. There are numerous stories of Americans during the Great Depression forced to remedy their situation by such actions. However in 2009, we do have options in shaping our futures so our financial health can begin its path towards redemption. The 31 simple and at times challenging suggestions mentioned below will help you save money. The big challenge is to not spend the money you'll be saving.

1. Refinance your home to a lower mortgage rate or apply for a loan modification

2. Begin saving money by not using your credit cards and paying your bill down to a 0 balance.

3. Shop differently. Purchase generic brands at the supermarket.

4. Buy groceries in bulk.

5. Clip coupons.

6. Rent DVD's for the latest films instead of going to the cinema.

7. Use less gas. Do not drive as often.

8. When using your vehicle, plan your trips wisely.

9. End magazine and newspaper subscriptions. Go to the library instead. It's free.

10. Review your auto and hazard insurance policies. Check other companies rates and switch if their premiums are lower.

11. Cook at home. Less outings at restaurants.

12. Stay close to home. Travel less.

13. Purchase clothing at outlets or second hand clothing stores.

14. Lower your dry-cleaning bills by ironing more. 

15. Eat moderately. If you're overweight now is a good time to diet by drinking more water and exercising.

16. Sell items you no longer need. Have a garage sale or sell on EBAY.

17. Make your own coffee. There's no need to spend $4 bucks for a cup of coffee.

18. Downsize. You might trade in your gas guzzler for a hybrid vehicle.

19. Rent a room in your home to a college student for extra money.

20. Less television viewing. End your cable subscription.

21. Devise a scheme in which you spend no more than $10 a day.

22. Contact your accountant to see if there are additional deductions that can be made on your tax returns. You can also seek a second opinion from another tax preparer by reviewing your returns.

23. You might want to review your current property taxes as your house might have been reassessed to a lower appraised value. This would lower your property taxes and can save you hundreds of dollars.

24. Mow your lawn. You might save money by doing this yourself and giving your gardener a short break.

25. Begin a babysitting service at your home.

26. Review the internet for suggestions on building a new business. Be careful, ask questions and procure testimonials from those that have been involved in the business you are exploring.

27. Save money by washing your own car. Curtail trips to the carwash.

28. Your housekeeper. To let go of a housekeeper is excruciating for many as this person has become an active and loving member of your family. You must weigh this decision with a heavy heart. You will know what to do. Seek the Lord's guidance. You might not need to dismiss your devoted housekeeper after all. 

29. Use air conditioning sparingly to cut costs. Use fans.

30. Lower your thermostat. Sleep with an extra blanket.

31. Saving the best for last - Tithe. The good Lord will help you overcome all of your financial problems if you begin rewarding Him 10% of your income. This spiritual method works!

Being frugal can provide the 'stimulus' plan you need to cut costs across the board. Also keep in mind there are persons in your daily life that will be affected from your heads on approach. You are the only person that knows if you can let go of your gardener, housekeeper or babysitter without invoking harm on them or their families by a decrease in their income. Seek prayer for guidance.

You might have additional suggestions for our readers. Please send them our way & we will include them in an upcoming TeamBlog. Please email to: moneyteamusa@aol.com. Thanks!

Chrysler Bankruptcy

I was disheartened to know that Chrysler filed for bankruptcy protection yesterday. There will be plant closures and many auto workers will lose their jobs as a result. This is a sad day for Americans and my beloved state of Michigan, where I have members of my family and friends from college days living in an environment of loss. Many of their neighbors have lost hope and are disillusioned with their futures. This despair is heartfelt and is a tremendous burden for anyone facing these circumstances.

In previous TeamBlogs I wrote about my support in providing Chrysler and GM the loans required to stave off the event of bankruptcy. Unfortunately, my prayers and the prayers of our nation were not answered. It is assumed that Chrysler will be restored as a healthy and thriving auto manufacturer once again. God willing, this Resurrection from the ashes will begin a new chapter in the evolution of the auto industry. Truly, the purchase of an American made vehicle is the product which will help end the agony of unemployment for many auto workers. Let's commit ourselves to purchase or lease an American car today. My next car purchase as I mentioned in a previous TeamBlog, will undoubtedly be American!

TeamNews

TeamNews is the newest addition to our TeamBlog. This section will be devoted in exploring national events, government concerns, politics and other issues which are of concern to Californians and all Americans. This week, an exploration of the Swine Flu epidemic and the actions or inaction of government in safeguarding the health of Americans is our main focus.

TeamHealth/Swine Flu

Ever since Americans were made aware there was an outbreak of Swine Flu in Mexico recently, US Government officials have provided recommendations in order to alleviate our fears. Our hands have the capacity to spread the flu. We are told to wash our hands and place our hands over our mouth if we cough or sneeze in public. These actions are simple to understand. Adults and children can comprehend these basic concepts. Unfortunately, common sense is no longer flourishing within the confines of our government and its officials.

We all know the deadly outbreak of this flu originated in Mexico. In order to isolate the germ from spreading to the US, the logical approach is to close the Southern border. Moreover, all roundtrip flights from the US to Mexico and vice versa should be suspended until such time both countries agree it is safe for travel to resume. Unfortunately, our government believes the 'horse has left the barn' and it's unneccesary to close the barn door. This analogy does not provide the reassurance Americans need in knowing our government is up to the job and in control of the current situation.

On the 'Today Show' Thursday morning, Vice-President Joe Biden mentioned his concerns and the advice he would give his family. He advised to stay away from the confines of an airplane or a subway as the flu can spread and manifest in close quarters.

During the Presidential Election Campaign last year Mr. Biden was prone to gaffes in his desire to communicate with the American electorate. However on this occasion he was lucid and was later derided for remarks he gave that told the truth. Of all the members of this newly formed government, the Vice-President should be commended for voicing his concerns. Attempts to ridicule his candid thoughts by the media and government officials, gives the American citizen 'food for thought'. We will know soon enough if the Vice-President gave us common sense advice. Please see the attached interview: http://www.nbcnewyork.com/news/us_world/swine-Flu-0428.html

The safeguarding of American lives is the utmost responsibility of government. We are now becoming aware of the massive spread of this pathogen throughout the country. The harm can be contained. God willing, we pray the outbreak does not reach a LEVEL 6.

Mortgage Rates

Now that the economy shows signs of life, interest rates are starting to inch up again. Currently, MoneyTeam is offering 4.75% on a 30 Year Conforming Fixed Rate Loan. For a 15 Year Loan the rate is 4.375%. Both loans are at 1 Point. We recommend you lock in your loan before rates go up again. Please call our office if you have any questions or concerns at 323-936-3232.

Thanks Again