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Dear Friends,

Where does one begin?

The grief, pain and suffering continues unabated as over 71,000 jobs were lost on 'Black Monday'. Pink slips were handed out by such diverse companies as Home Depot, Caterpillar and Sprint among others. So far this year, there has been over 200,000 job losses. For the entire year of 2008, 2,600,000 Americans lost their jobs. These staggering figures are truly disturbing to any observer and is a devastating reality for those unable to provide for their families.

The economy we are witnessing today is being compared to the troubles during the Great Depression and to the late 1970's and early 1980's where double digit inflation was prevalent. While the severity of these events are noted as comparisons to America's current financial strife, we need to be reminded the contrast is at times perplexing. I do not consider myself an economist, but in reviewing the characteristics and the histories of these financial fluctuations it is best to say we are entering an 'unchartered territory'.

The main premise of a 'stimulus' package is to spend as much money as quickly as possible to 'jumpstart' a weak economy. This money provided by government intervention is to be pinpointed towards specific sectors of the economy in order to generate job growth. Presumably, infrastructure repairs of bridges, roads and highways  throughout the country is considered an example where these funds are to be allocated to meet employment goals. Moreover, the lowering of taxes for all Americans helps generate additional monies for one to spend. These additional funds can be used to purchase household goods or services which provides demand, thereby helping the economy in the long run. Tax cuts for business owners provides incentives to hire more workers. The consumer and the entrepreneur are pivotal players in a free market system. Incentives for job growth is enhanced when tax cuts are implemented by an intelligent, methodical approach where employment is the ultimate goal. This is basic Economics 101. Unfortunately, our Congressional lawmakers are ill equipped to understand such simple concepts. 

While gently reviewing the stimulus bill passed by the US House on Wednesday, the American people are yet again victims of a relenting and sardonic ritual by Congressional lawmakers, where the approval to spend $819 Billion, lacks basic measures required to help solve the chronic effects of a deep and sustaining Recession. It is frustrating to note a tremendous percentage of the funds approved for this 'stimulus bill' is not being used for job growth at all.

All House Republicans voted against this measure. While the bill did allow tax cuts, there was a predominant amount of 'pork barrel' spending which will do nothing to create jobs in the long run. The Congressional Budget Office mentioned there were several items in the Bill which will not take effect until the latter half of next year! Congress is spending money that we do not have for things we do not need. When will these people ever learn?

Life Has No Meaning - It Provides Economic Stimulus

In an interview with ABC NEWS last Sunday, House Speaker Pelosi suggested the use of contraception and monies allocated for Planned Parenthood for birth control, is a worthwhile venture as abortions provide a 'stimulus' to the economy. Presumably by having less births, health care costs can be reduced to a minimum.  After an outcry by Americans, this endeavor is no longer in the Bill just approved by Congress.

In the same vain, within the past week, the new President signed an executive order lifting restrictions on federal funds being used to perform and promote abortion in foreign countries. Americans are now inadvertently supporting the demise of human life through our tax dollars. The preponderance of incredulity continues as we are now becoming aware the President is eager to sign into law the Freedom Of Choice Act (FOCA), where this measure would eliminate all restrictions on abortion nationwide.

Above all else, human life is precious and sacrosanct. To believe and hold our trust in government officials willing and taking pleasure in the destruction of life by executive orders, legislation or statutes, is the penultimate measure of contempt to the values, the substance and the soul of our Founding Fathers, ourselves and in due course, our Creator.

The Inauguration of President Obama as I mentioned last week was truly an historic event. Racial barriers are now broken and many Americans are proud and delighted to have a man of color at the helm of government. Unfortunately, I am troubled and disheartened at the executive orders and decisions placed in motion which will eventually hamper his ability to govern.

It is sad to say that reciting the oath of office by holding the Bible once owned by the 16th President, does not instantly transfer the respect, the virtues, the substance of character, the humility, the embrace of moral values nor wisdom associated by the much beloved Lincoln. All attributes of great men are measured by the vicissitudes of one's life and by the hand of Divine guidance. The time will come where inclinations, the exigencies of personality and the true character of the 44th President will see the light of day.

The 'unchartered territory' has now begun.

Mortgage Rates

Rates are still considered competitive this week, however we are seeing an uptick in interest rates.

30 Year Fixed Rates are @ 5.00% 

15 Year Fixed Rates are @ 4.875% 

Both Rates are @ 1 Point charge. Please check our RATES section for additional loan programs.

Previous Clients

We will be calling all of our previous clients beginning on Monday, February 2nd during the hours of 6PM until 8:30PM weekdays until Tuesday, February 10th. MoneyTeam will be offering splendid incentives if you are seeking to refinance your home. I hope to speak with you soon!

Loan Modifications

We are eager to help you overcome problems you may have with your mortgage. Fees associated with the services provided are refundable if we are unable to help you. Loan modifications can be time consuming and results do take time. However, we are confident of success per our previous experiences. Our office is sending up to 1000 flyers during the next 2 weeks. If you receive our mailer, you are eligible for a discount. Please check our website for more information.

Thanks Again

Dear Friends,

Today marks a new chapter in American history! The Inauguration of Barack Obama as our 44th President is indeed noteworthy, as he is the only African American to hold the reins of power as Chief Executive in US Government history! This is a true milestone as we are proud one of the major divisions which has permeated the fabric and soul of this country is put to rest.

Race relations has dominated discussions of all Americans since the founding of the Republic. The elevation of Barack Obama as President is a testament of the tolerance and desire to embrace individuals or personalities irrespective of one's skin color. While this dynamic is an attribute we are content to witness in our daily lives, we are reminded there are those in our communities that have not responded in kind. Perhaps, in due course and in years to come, discrimination of this type will no longer become a division or a distraction amongst Americans as major issues and challenges facing the nation will dominate and take center stage, as it should be.

While we have a new Administration and a majority of members of one Party in both houses of Congress, there is the likelihood of dramatic changes which will dominate the discussion of major concerns regarding the economy and the direction of foreign policy. While there is a force of desire or a perceived mandate to implement legislation or statutes which run counter to those of the previous Administration, we as Americans need to be wary of a rush to judgement in all machinations devised by one party rule. It is always prudent and smart to have a healthy exchange of ideas in regards to all aspects of decision making when government is involved. Nonetheless, most Americans are eager to give the new President the benefit of the doubt in his approach to end the current financial crisis. This perspective may continue depending on the results. While the US economy is the main focus of government officials, there are other issues of major consequence which will be discussed at length during the coming months, that will help define the substance and character of the new occupant of the White House.

In regards to our new President, he is well spoken, intelligent, charming and charismatic by all accounts. The Inaugural address highlighted the financial challenges and obstacles Americans face and the examples of previous generations in overcoming these problems.

This nation was founded by Christians. The Declaration Of Independence provided the new Republic with convictions similar in scope to those espoused in Scripture. Many Americans were devout in their desires to live a better life from the tyranny of King George III. The end of 'taxation without representation' and the courage by the settlers in its break with England, was a development inspired by Providence. Prayer provided hope to a new nation. A deep abiding faith in the Almighty gave comfort to America's newest citizens.

From the days of the nation's beginnings through the turmoil of the Civil War many years later to the Great Depression of the last century, Americans have withstood their plight and always turned to wise counsel in overcoming the deep despair and suffering of its countrymen.

In 2009, we are reminded our nation's destiny does not revolve around one man or one political party. The collective prayers we have for America are heard and appropriate outcomes are answered once our faith is shown to be genuine and sincere. The path we take is the prerequisite for the planned destiny which will be bestowed upon this nation. Decisions in regards to health care, discussions of pro-life or pro-choice, stem cell research, education, crime, environmental concerns, privacy matters and a gamut of numerous other issues will provide the debates in which guidance and wisdom rendered by our prayers will provide the difficult answers required to help solve the unique challenges Americans face today. Notwithstanding, the integrity of those harboring the power in shaping economic policy is of utmost importance. Honest brokers are required to instill confidence that America's solutions of our current financial turmoil are in capable hands. Prayers for our nation and its leaders on all concerns is a necessity if we are to overcome the numerous challenges we now face.

Truly, in anything we do, God is watching us from a distance.

Goodbye President Bush

There are many Americans eager to have the Bush Administration come to an end. The Iraq War, Katrina and the current Recession are the events which have doomed the goodwill citizens once had for this President. During the months following the attacks on the World Trade Center in New York on September 11, 2001, Americans looked to the new President for guidance and direction. The death of our beloved neighbors in a manner so disturbing and so barbaric as to be truly inhumane, was the springboard for vengeance and retribution. The 'war on terror' began the onslaught to protect America at all costs. The incursion of American forces into Iraq to end the stranglehold of its population by a demonic dictator and the pursuit of weapons of mass destruction where none were eventually found, began the debate by many to the veracity and the integrity of Mr. Bush. Questions in regards to the origins of intelligence obtained by the CIA in America's endeavors became susceptible to scrutiny by a doubting media, Congress and the general public. 

In late August of 2005, hurricane Katrina rendered the population of New Orleans and other municipalities hostage by its destruction. The inept and disturbing attempts by FEMA in helping the residents of this disaster in the beginning hours of Katrina's torment, was attributed to the incompetence and lack of communication by those hired to administer aid to those in need. The television pictures were all too graphic and inconceivable to believe.

The current Recession which began with the sub prime mess so many months ago, is deemed to have begun the spiraling effects which contributed to the current state of economic meltdown. While the Democratic Congress had its hands in devising mortgage loan programs which provided lenient underwriting guidelines in housing purchases, the snowball effect occurred under the governance of the Bush Administration.

These 3 major events have given the 8 years of the Bush Presidency its lukewarm reception. However, it must be reported that America has not been attacked by terrorists or a foreign power since 9/11. This is the main focus of the Bush legacy. The protection of US citizens from foreign or domestic terrorism is profound.

Years from now we will know if the sacrifice made by Americans in Iraq was worth the effort. If this nation suceeds in its efforts to uphold the basic tenets of democracy, historians may look with favor on this President. Perhaps the prayers of many around the world for Peace, will be aswered for all to rejoice!

Thanks Again

Dear Friends,

Americans now know there is a HERO living in our midsts! The miraculous maneuvers of Pilot 'Sully' Sullenberger in the landing of the US AIRWAYS passenger plane on the Hudson River yesterday afternoon, was truly miraculous in scope and execution! No lives were lost and a genuine story of this magnitude was indeed the tonic Americans longed for.

From the deluge of chronic depressing financial news and the 'hot air' on Capitol Hill, we are transfixed on a real life drama which has given us time to reflect on our circumstances and has reenforced our faith for a miraculous outcome similar to the 155 passengers on Flight#1549 .

While we are suffering the effects of the Recession, we can appreciate the turbulence anyone of us may have if our lives or those of our loved ones are lost through such a tragedy. The love of life is the most important aspect of one's ability to transcend. Life is precious. We are reminded once again of its unpredictability if our lives were placed in jeopardy under a similar occurrence. Pilot 'Sully' has given us a chance to reflect on our lives and has given many of us the faith that miracles do indeed happen!

Mortgage Rates

Please check our current rates. MoneyTeam is offering:

30/30 Year Fixed 4.875%

15/15 Year Fixed 4.500%

Both Rates @ 1 Point

Check the current MAXIMUM loan amounts for CONFORMING and JUMBO loans. As always, MoneyTeam will MEET or BEAT any advertised FIXED RATE mortgage loan. Call our office for more details.

Martin Luther King

"I have seen the Promised Land!"

Our office will be closed @ 12 NOON on Monday, January 19th to observe the KING HOLIDAY.

Our office will reopen at 12 NOON on Tuesday, January 20th, INAUGURATION DAY.

Loan Modifications

We are eager to help you overcome hardships you might have in paying your mortgage. Please check our website for more information or call us directly at our office. Let us help YOU!

The California Budget

Our Governor and the Legislature are at an impasse on the course of action to take, in order to help resolve the current fiscal deficit blowout of over $40 Billion. The 12 minute 'State Of The State' speech delivered by our beleaguered Governor yesterday morning provided few details, if any, on helping to solve this problem.

There has to be an audit of all monies leaving the Treasury. I have always advocated in cutting or eliminating services which are not life threatening. Raising taxes is never a smart decision during a Recession.

The main problem California has and will continue to have, is the chronic pastime by state lawmakers in raising taxes whenever possible then spending the incoming revenues of the taxes just approved. Certainly the Governor is a participant of such convoluted logic by the bills bearing his signature. Nonetheless, there has to be new approaches to end the harm of raising taxes in order to garner new revenue.

Goodbye California

There are more Californians leaving the state due to exorbitant income, property and sale taxes which continue to be approved and gladly administered by Sacramento lawmakers. 

California businesses no longer are confident these tax issues will be resolved anytime soon. Corporations and business executives have seen the writing on the wall and are closing their doors due to the unfriendly and incoherent tax policies which have created economic consequences in a disappearing tax base. While California has its movie stars, celebrities and millionaires galore, our state lawmakers need to be reminded most Californians do not live in luxury and are unable to keep a roof over their heads and provide food for their families. The stranglehold of incompetence or the understanding of lawmakers eager to gain favor of special interests in order to garner funds for one's reelection, is the mindset which permeates throughout. The conviction of many to uphold basic altruism as a philosophy in becoming a public servant, is an ideology unknown to many lawmakers in Sacramento and even in Washington. The day will come soon enough when California is no longer seen as a place to live in harmony, even though the weather today was over 78 Degrees Fahrenheit in Los Angeles!

Thanks Again

Dear Friends,

After a prolonged bout with the flu, I'm back to offer the 'transparency' everyone in Washington is now eager to provide. I have regained my faculties and I have a keen interest in exploring the logical or illogical pursuits of government intervention in its quest to end the Recession.

After spending $350 Billion of the approved $700 Billion by the Bush Administration and a forecast of an additional $800 Billion required to 'shake up' the economy as recommended by the President-Elect, the likelihood of all this money distributed by competent hands is scheduled to become an exercise in 'transparent' futility. The buzz word of the '08 Election has become an active adjective in the nomenclature of political discourse. The purported definitions espoused by anyone in Capitol Hill of this magic word in bouts of defining additional bailouts, has been rendered meaningless.

In 'transparency' every detail must be disclosed and in so doing we are led to believe statistics provided by economists or counselors to government officials are credible and genuine. Unfortunately, I've become a skeptic after the theatrical events orchestrated by our lawmakers and Wall Street executives were discovered during this past year. These activities has led to an unprecedented display of hubris and in turn the destruction of American lives by wanton incompetence, greed and corruption. After the suffering this entire country has sustained for months, we are now led to believe the culprits which created this economic Armageddon are the ones capable of leading us to the Promised Land. The path to Socialism awaits this country if we allow the spending spree to go unabated where its debilitating effects will dampen the futures of our children and generations to come. 

We are at a crossroads. Lawmakers throughout this country must end their chronic, detestable desires for power as sport to the detriment of its constituents and start the process of transforming their 'charming verbose personalities' in securing logical solutions to economic challenges. A pretty face, a nice smile, a fabulous voice, a wonderful delivery, an expensive suit or a head full of hair does not provide the confidence Americans demand during this Recession. In one of my previous blogs I mentioned there is a lack of leadership in government and there is no one that has the integrity to tell its citizens the truth in regards to America's financial situation. I still believe in this sad truth, even today. If only fictional characters as, let's say, a Jack Bauer in the Fox series '24' were true to life in the halls of Congress or even residing on Pennsylvania Avenue then my natural optimism might be restored. While I wish everyone a Happy New Year, there are troublesome challenges we as a nation must face to overcome the suffering of many Americans.

We now must ask ourselves, what are we to do and who do we believe?

We as Americans must begin to write, phone, email, cajole, demonstrate and even scream to our US Senators and Representatives that we need to know every detail on how this $800 Billion is to be spent. We also need to have independent, informative public forums throughout this country which will delineate where all this money is headed. Do we really need to spend $800 Billion? The experience of a few months back where even today, the Treasury Secretary is unwilling to provide details of which entities received $350 Billion in TARP funds, is disturbing! This is our money and the secrecy in its disbursement is the main motivation for accountability.

While there is an impetus to spend us out of this Recession and to implement similar financial theories devised by economists guiding President Roosevelt during the Great Depression, we need to review the consequences employed by history. While FDR did everything sincerely imaginable in his power to end the Depression, it took years with the production of our factories during World War II which ultimately ended the economic slide.

As of today, I am not convinced an additional $800 Billion will help solve America's financial problems. I believe in  tax cuts for all citizens and less government in our lives overall. A Flat Tax and the abolishment of the IRS are worthy pursuits. Americans might insist on 'economic blackmail' where we allow the spending of such inconceivable amounts if the IRS or a complete overhaul of our tax system is accomplished. We all know this will never happen in our lifetimes.  

By and large we all wish our new President success. While I have no desire to revisit the General Election, I do remember the dubious associations with questionable characters, the scandals of untold amounts, left of center predilections, the unconscionable spending of over $750 Million to gain the Presidency and a past under lock and key where all records of any significance are nowhere to be found or unable to be released. 'Transparency' is presumably the new measure of cooperation and openess sought by the incoming Administration. Any logical person can understand that under these circumstances and set of facts, a 'pick and choose transparency' lends itself for us to be wise and tread lightly in any representation or explanation of a financial nature provided by the US Government.

Frost/Nixon

During the Holidays I was able to set aside some time to go to the movies. As an enthusiast of all things political, I was able to view a splendid account of the interviews David Frost did with the former President several years after his resignation. Both actors portraying these characters were superb and engaging. In any scandal of such repute, money tends to be the main focus or challenge which ultimately corrupts those in high office. There's no need to be reminded that scandals on numerous occasions revolve around money. The Watergate scandal had its intrigue by President Nixon soliciting $1 Million from the Teamsters and offering the hush money to the burglars. While the cover up was finally revealed which implicated Nixon in the bungled burglary, we can appreciate the powerful effects money has in human nature. Watergate conjures up scandal and deception. In regards to our present condition, the sub prime mess has its origins in greed which eventually has catapulted America to its current financial mess. In Scripture it is mentioned the love of money is the root of all evil. We are truly experiencing its after effects today.

Thanks Again