TEAMBLOG

Dear Friends,

This was the week Americans revisited the ghost of the economic past.

All of us are aware that our economy continues to spiral downward with no end in sight. Murmurs of 'depression' are being discussed by economists and others as our current situation resemble circumstances which led to the 1929 Crash.

I had some friends call me the other day and wanted to know if the 'run on the bank' was similar to the scenes in the 1946 film classic, "It's A Wonderful Life". I said 'yes indeed'! I gently and wittingly reminded them the scenes displayed on television was not a motion picture. I neglected to mention however, that in my imagination, there is a man by the name of Mr. Potter and he exists in real life. The sad truth of this entire encounter, is we need more George Bailey's in America so angels like Clarence can earn their wings!

Unfortunately in real life, the script differs. The drama continued for a few days this week in Southern California where local TV networks interviewed and showed the long lines of depositors waiting patiently to withdraw funds from their accounts at INDYMAC branches throughout the area. There were several skirmishes of course, but the imagery was all too powerful to contain.

In attempts to reenforce confidence and trust in our financial institutions, the President and the Treasury Secretary did their best to provide words of optimism. One of the main highlights revolves around the solvency of the major mortgage concerns of FannieMae & FreddieMac. These institutions will be protected by the Federal Government in the event of any signs of collapse.

While the Stock Market was bullish and oil declined in price to $129 a barrel on Thursday, one day of good news does not solve the avalanche of pending and deep rooted instability inherent in our economy. Being optimistic about events on one day and pessimistic about things on another, can result in one acquiring a detrimental view of our whole financial system. The schizophrenic activity of the financial markets has made Americans deeply anxious about their futures. 

Purveying an optimistic outlook and providing plans to solve upcoming problems, is the current gameplan voiced by government lawmakers to assuage our fears about the future. However, the American people are disheartened by daily reminders in their lives.

Daily reminders of either paying the mortgage bill or buying groceries - of either paying the utility bills or the phone bill - of paying the health insurance bill or saving the money to fill up the gas tank, these daily exercises in decision making are truly disconcerting.

The options on which bill to pay in order to survive is truly objectionable. You either can lose your home, go hungry, decide to keep the lights on in the house, have your phone disconnected, lose your health insurance or even your health and even lose your job if you can't afford the gas to get to work! Americans should not be in this situation. Unfortunately, past decisions and errors in judgement made collectively by the American electorate has come full circle.

As a nation, we must end our dependence on other countries assets in order to pay our bills. The US is gradually losing its capability to control its own destiny due to the billions of dollars owed to other countries. America is being manipulated by these nations in all spheres of our economy.

There's no need to name the countries that are relishing America's demise. The worthless dollar, the high price for a barrel of oil, the firesale of our companies and corporations to the highest foreign bidder & the sale of our infrastructure to other countries for pennies on the dollar - these are the activities which are most troublesome and are against basic American democratic interests. Greed and insolence are becoming the hallmarks of business in this new environment.

There are solutions for these problems. In upcoming TEAMBLOGS there will be logical and heartfelt discussions surrounding the challenges Americans must face to end the destruction of our heritage and our society.

While the sky might be falling on us today, there will be a time when the heavens will open up for all to see. We need to be patient and confident this day will soon come to pass.

IN OTHER NEWS:

Please check our last TEAMBLOG for details on our SUMMER APPECIATION MORTGAGE SALE until August 7th.

We mourn the passing of 2 great Americans. Tony Snow - the former White House Press Secretary and moderator of Fox News Sunday. Many of his good friends and colleagues remember him to be an honest and compassionate man of character. Many photos showed his infectious smile! He faced cancer with courage and lost the battle at only 53 years of age. A man of faith, our thoughts and prayers are with his family and friends.

Dr. Michael Debakey, the noted heart surgeon, left us at the age of 99. He was truly a gifted man as he devised operations and surgical instruments to prolong the functioning of the heart. He will be most remembered for his work on the aorta and developing the practice of open heart surgery. He was known to have tremendous energy, devotion to his clients and possessed a reputation for perfection in surgical matters. He would be in surgery for hours on end and displayed pinpoint accuracy in his abilities. He performed over 60,000 surgeries in his lifetime! World leaders and celebrities would seek his help. His concepts have saved many. He will truly be missed. Our thoughts and prayers are with his family and friends. 

Thanks Again

Dear Friends,

The economy continues to provide us with additional disconcerting news in regards to the overall health of America's financial system. As noted on previous editions of our TEAMBLOG, we've heard the 'gloom and doom' scenario many times before. 

In our lives, we hear words of pessimism portrayed on a daily basis in the media, in chance meetings with acquaintances, amongst our friends and by discussions with family members. Such an ordeal comes to life at our doorstep when any of those closest to us has the misfortune in having difficulty financing a home, losing a job, facing foreclosure or unable to make ends meet. If these events are occurrences in our own lives, we are reminded of its consequences by our behavior which can result in anxious moments of despair or stress. These circumstances have plagued many Americans recently and the effects of such suffering and overcoming its difficulties differ individually.

We all have options in the manner we seek to end a misery which we perceive to be a hindrance in the disruption and the direction of our daily lives. This perception is truly misguided, as obstacles of this magnitude are meant to be conquered, by encouraging us to display acts of bravery and courage we never knew we had. The financial markets has its cycles and we are now in its nadir. There will be a time, in the not too distant future, our fortunes will once again become a delight.

The economic health of our country and the financial ordeals in our personal lives can be redirected. In order to begin the process of surmounting these problems, we need to reflect on the situation we've ultimately engineered ourselves, by the decisions we've undertaken in our past. No matter one's age, there's a time and place for us to take stock in our lives, to begin anew.

These suggestions to overcome the incessant disturbing realities we are facing, can be accomplished by several themes of renewal in our spheres of influence. Anyone we are in contact with today, can be the beneficiary of genuine and sincere attempts of respectability, compassion and patience created by a renewal of our character.

During the Great Depression, many Americans gave of themselves to help those in desperate need of lodging, food or medicine without renumeration. There was a bond, a collective sacrifice in which everyone came together to fulfill the obligation of one's integrity. Such altruistic and benevolent generosity displayed years ago, is rarely evident in today's America. The absence of this theology in our society, has made the suffering of its citizens all too painful. Truly, there is a divine component for the conflagration our nation is currently witnessing. It's aftermath will be known to us soon enough.

IN OTHER NEWS

On a personal note, I'm enjoying the ability to write my thoughts and to express them in weekly writings through our TEAMBLOG. The BLOG began over one year ago and I'm excited that many of you have become active participants by your readership in regards to the mortgage industry and other noteworthy concerns. Many of you have become subscribers throughout these past few months. I'm truly grateful and committed to continue in providing an outlet or "a voice in the wilderness" in all matters relating to the economy and views highlighting the current state of affairs in this country.

The financial stress many Americans are experiencing today has begun a process of introspection. We are now compelled to begin a dialogue in understanding the forces which have brought our nation to this "fork in the road."

I'm privileged to have the opportunity to provide my thoughts and convictions in this blog. I consider the entries written a therapeutic exercise in a process of continual growth and reflection I seek for myself. Several of my dear friends were astonished at my capabilities in putting two words together to make a sentence! One of my friends believed there was another person writing all of the blog entries. To my chagrin, I undoubtably came to the realization it's a revelation to be underestimated!

In previous TEAMBLOGS I mentioned several of the characteristics and profound events which have had deleterious effects on the mortgage industry, the economy in general and the change in the character of America. Please check the next edition of the TEAMBLOG where I discuss these issues and provide additional insights and recommendations to revitalize the conviction of temperament and a blessing of sustenance our country requires and longs for.

THE HUMAN EXPERIENCE

On Sunday, June 22nd I was privileged to view an independent film produced by young filmmakers at St. Victor's Church.

"The Human Experience" revolves around the activities of two Catholic brothers from Brooklyn in their quest to seek an understanding of the human condition in terms of suffering, pain, fulfillment, compassion and joy. In the streets of New York, in a hospital in Peru, in a leper colony in Africa and in their personal lives, the events surrounding their story is deeply moving and genuine.

This film was truly a labor of love and conviction. I'm excited to have witnessed a film devoted to enlightenment we all seek.

Please check the website of the film, The Human Experience at  www.grassrootsfilms.com. Please contact Associate Producer Michael Campo for a showing of this marvelous film.

THE PONTIFF IN AUSTRALIA

While the abuse scandal in the Catholic Church is a somber and damaging chapter in its history, Pope Benedict XVI has directed his efforts in repairing the evolution of harm, suffering and pain caused by the egregious acts of clergy against its most vulnerable members of faith - its children.

While this reality is a reminder of the depths of evil brought to light, the Pontiff's eloquence in this and other matters of consequence were dramatically highlighted in his statements during World Youth Day.

In this TEAMBLOG I mentioned the lack of compassion evident in America today compared to years past. The Pontiff mentions a similar philosophy not specifically to America however. Benedict urged young Christians to become agents of change as "the world needs renewal."

"In so many societies, side by side with material prosperity, a spiritual desert is spreading: an interior emptiness, an unnamed fear, a quiet sense of despair". These were the words uttered by Benedict last Sunday. Perhaps, such eloquence portends to the future of America as well.  

MORTGAGE SALE CONTINUES 

Please check our previous TEAMBLOG for our MORTGAGE APPRECIATION SALE ending on August 7th. MoneyTeam will meet or beat any advertised FIXED rate loan. Check our TEAMBLOG for details or call our office at 323-936-3232.

MONEYTEAMUSA.COM

Beginning today, if you click www.moneyteamusa.com this will automatically redirect you to our website. Soon we will expand this site once the dust settles.

Thanks Again

Dear Friends,

Our mortgage sale begins in earnest on Thursday, July 17th until August 7th. Our focus is to provide our clients the most competitive FIXED rate loans offered today. We will do our best to either MEET or BEAT any advertised FIXED rate loan from any lender under similar underwriting criteria.

To qualify the loans must be under these guidelines:

1. Conforming or Conforming Jumbo designation.

2. Full Doc. Must provide 2 years 1040s or W2's to prove income.

3. Middle Credit Scores of 680 or above.

4. 1st Trust Deeds only.

5. Loan amounts over $225,000.

MoneyTeam will also offer the following discounts:

1. Rebates on CREDIT REPORT FEES & APPRAISAL FEES - $365 in SAVINGS

2. The PROCESSING FEE of $350 will be waived

On all other loan programs:

1. Stated Income - Verified Assets

2. 2nd Trust Deeds

3. Hard Money

4. Commercial

MoneyTeam will waive the PROCESSING Fee of $400.

Please call our office at 323-936-3232 for more details.

Please check our RATES daily.

Thanks Again

Dear Friends,

During the past several months, there has been a chronic cycle of depressing news in regards to all aspects of the economy. Today was no different as IndymacBank was taken over by Federal Regulators to secure the funds of depositors. Subsequently, FannieMae & FreddieMac, the foundations of the mortgage industry, were rumored to have difficulties in obtaining monies needed to maintain liquidity. While the stock market lost 128 points and oil climbed to $145 a barrel, such bad news continues to create fears of confidence and trust in these institutions by investors. The mindset of many Americans towards the future looks bleak.

Unfortunately, due to perceptions of instability among the 2 most important mortgage concerns in the US, there are chances interest rates will begin to rise for those seeking to purchase or refinance a home in the near future. If this occurs, with all of the challenges borrowers have to face in applying for a loan, a downward spiral of economic calamities may become a reality. Let's hope this is not a foregone conclusion and just another hurdle where we are collectively searching for the best and safest direction.

The Senate has just passed mortgage bailout legislation for $300 billion. In an upcoming TEAMBLOG, we will discuss the ramifications of this bill if it becomes law.

I had written a completely different piece for this week's TEAMBLOG. However, with today's news, it was necessary to devote a few words to its importance. In coming weeks, I'll be providing my thoughts and ideas on how to formulate an energy policy we can promote and live with among other challenges.

"Come What Come May" is an expression brought to life in Shakespeare's Macbeth. This saying is a true reflection of developments we are witnessing in the financial markets. The future direction of the mortgage industry will become established in the next few months. Stable markets and optmistic trends are always welcomed!

IN OTHER NEWS:

This coming week, I'll be visiting Realtors in the Los Angeles area. I've been seeking to go out more often & distribute our flyers and information about MoneyTeam, but I've decided to finally make the time to meet many of you that have responded to our offerings on our website and our loan programs. I'm eager to respond to your queries & to drum up some business too!

Please check our WEBSITE on Monday as we'll be having a MORTGAGE SALE from the 17th until August 7th which will come in handy for all borrowers.

We have numerous investors and contacts for COMMERCIAL - LAND - INDUSTRIAL - APARTMENT and HARD MONEY loans. We are receiving calls and emails from these sources on a daily basis. Let us help you submit your loan today! Call our office at 323-936-3232

Thanks Again

Dear Friends,

It seems as though we've become accustomed to bad economic news around this time every week. This was true again today, but I've decided not to dwell on such grim happenings in this edition of our TEAMBLOG. It's best to concentrate on the wonderful and passionate ideals our great country is best known for.

FREEDOM

Many in the world today envy our democratic system of government. The people of this nation bestow the power of governance to our representatives by our votes. It has been said many times that one vote makes a difference and America's history is a testament to its importance. If we must compare our livelihood to those of other nations, the United States will always be considered the land of opportunity and the greatest country on earth.

It is unfortunate that many Americans take the freedoms we truly cherish for granted. We need to remember the sacrifices our Armed Forces have displayed in efforts of ending tyranny and confrontation where force is required. In today's dangerous world where many interests are focused on destroying all democratic principles for the elevation of despotic philosophies, our nation has a responsibility to meet the burdens to end these attacks on the human condition. America is the only country on earth that has the penultimate ability to move this philosophy of freedom forward. 

The freedom of expression and the ability to worship in one's faith are centerpieces of this great movement. We are fortunate to be the benefactors of a destiny which began on July 4th, 1776, America's independence from Great Britain.   

OPPORTUNITY

Many of us are immigrants. Leaving the current controversy of illegal immigration aside - our forefathers came to America to seek a better opportunity for their families. The passion for freedom created an environment of endless possibilities. A better job, a nice house, food on the table, warm clothing, a good education and competent healthcare are simple requisites to pursue a dream to better one's lot in life. Many of us are truly thankful for the welcome many Americans have given to new immigrants throughout its history. The generosity and the faith in helping others is a living testament of our democracy.

My family and many Cubans suffered the strains of Communism during the early 1960's. The political spectacle of extortion against the Cuban population by Fidel Castro, created a profound and painful exodus of children to America's shores. America with the cooperation of the Catholic Church, opened its arms to many Cubans and their families during this period. My 2 brothers and I left Havana in 1962 along with thousands of children in the humanitarian 'Peter Pan' flights to freedom. It took over 4 years for us to be reunited with our beloved parents once again. For many families, the trauma of such separation is still evident in subtle ways, so many years later. I and many Cubans would not be as successful citizens of this great country without the deep and affectionate compassion of America. I am truly grateful.

While this nation has many problems, we are not living under a dictatorship, a communist regime or under a philosophy of religious fanaticism. America's problems will be solved with a dose of patience, perseverance and fortitude. In regards to our current economy and the challenges we face, we need to be reminded of our strength and convictions demonstrated in years past. Look forward and never give up!

And may God in all His eternal wisdom, continue to Bless the United States of America!

Thanks Again