“The first thing we do is kill all the lawyers”, wrote Shakespeare in Henry VI. Contrary to what is commonly believed, the words were actually not meant as a criticism of lawyers. Rather, it was a line uttered by one of the characters in his play that have since been taken out of context. Nevertheless, on this special day of remembering the ghoulish and the macabre, we want to wish all the vampires and blood suckers of the world a Happy Halloween. I may join your ranks someday. But, until then, may you all choke and vomit in the blood you so heartily partake.
BUAHAHAHAHAHAHA …. (Sinister Laugh)
US awash in debt
|
Do not be fooled. The “National Debt” is only one piece of the whole story. If you want to really know how much every citizen of this country will have to fork out in the future, ask what your “Individual Liability” is. According to the US Debt Clock, every citizen has an individual liability of approximately $344,000 each.
There has been much talk about the economy and our “National Debt” to say that there are many different figures in the public domain available from a variety of sources. It is also confused by the arithmetic of the problem as it centers only on the “National Debt”. But we all know that in real life a loan is just one aspect of the total liability. For instance, if you were to purchase a home and take on debt in the form of a mortgage, you also have to pay for all the expenses associated with the house – mello roos, property taxes, supplemental taxes, homeowners association, fire hazard insurance and other expenses for maintenance. When you purchase a brand new home, by agreement you signed with your homeowners association, you’ll also have to pay for the window blinds, the landscaping and other improvements immediately thereafter. You cannot purchase a home and expect to only pay your mortgage. You will have other bills to go along with it. Same is true with our national economy. The National Debt is only one dimension of what our outgo will be.
Some noteworthy information:
LARGEST BUDGET ITEMS (2008 - 2009)
US BAILOUTS: 11,363,674,800,000
MEDICARE/MEDICAID: 623,541,788,000
DEFENSE/WARS: 528,059,970,000
SOCIAL SECURITY: 562,931,095,000
INTEREST ON DEBT: 317,998,402,000
SUBSIDIES: 54,356,066,000
EARMARKS: 16,273,542,900
The USDEBTCLOCK.org is an informative site that compiles and publishes relevant economic data real-time. What we want to point out appears at the bottom. It is the column that says “Individual Liability”. That is the figure we all should be looking at.
VIEW USDEBTCLOCK
Disclaimer: RobertsJustice cannot guarantee the accuracy and validity of the economic information that is published real-time on USDEBTCLOCK. There were a number of publications that we have found on the web that have quoted their information. And per Quantcast the USDEBTCLOCK site receives 48,310 visits per month.
There has been much talk about the economy and our “National Debt” to say that there are many different figures in the public domain available from a variety of sources. It is also confused by the arithmetic of the problem as it centers only on the “National Debt”. But we all know that in real life a loan is just one aspect of the total liability. For instance, if you were to purchase a home and take on debt in the form of a mortgage, you also have to pay for all the expenses associated with the house – mello roos, property taxes, supplemental taxes, homeowners association, fire hazard insurance and other expenses for maintenance. When you purchase a brand new home, by agreement you signed with your homeowners association, you’ll also have to pay for the window blinds, the landscaping and other improvements immediately thereafter. You cannot purchase a home and expect to only pay your mortgage. You will have other bills to go along with it. Same is true with our national economy. The National Debt is only one dimension of what our outgo will be.
Some noteworthy information:
LARGEST BUDGET ITEMS (2008 - 2009)
US BAILOUTS: 11,363,674,800,000
MEDICARE/MEDICAID: 623,541,788,000
DEFENSE/WARS: 528,059,970,000
SOCIAL SECURITY: 562,931,095,000
INTEREST ON DEBT: 317,998,402,000
SUBSIDIES: 54,356,066,000
EARMARKS: 16,273,542,900
The USDEBTCLOCK.org is an informative site that compiles and publishes relevant economic data real-time. What we want to point out appears at the bottom. It is the column that says “Individual Liability”. That is the figure we all should be looking at.
VIEW USDEBTCLOCK
Disclaimer: RobertsJustice cannot guarantee the accuracy and validity of the economic information that is published real-time on USDEBTCLOCK. There were a number of publications that we have found on the web that have quoted their information. And per Quantcast the USDEBTCLOCK site receives 48,310 visits per month.
My new neighbors: Raccoons
|
It was just a matter of time before my neighbors finally came out to meet me. They were a little off on their timing, though. It was about 3:30AM when they decided to introduce themselves. I was sleeping when I felt something rubbing my leg and opened my eyes to one of life’s “holy shit” moments. What came out of my mouth was the sound of a person’s first breath after being revived from a flat line – that sudden and massive inhalation of air. There was a scene in the movie “Pulp Fiction” when John Travolta stuck a needle in Uma Thurman’s chest to pump adrenaline into her heart. That was almost how it sounded only without the screaming. The cause of that cardio-pulmonary assault: Two full-grown Raccoons sniffing me out. For kicks, I added the Pulp Fiction scene in case you haven't seen it and you'll know what I'm talking about.
I sleep by a spot that is shaded by a huge pine tree. I chose that spot because it serves as a barrier from chilly winds and moisture from cold mornings. I knew that the raccoons were up there and slept with my camera beside me on certain nights in case they decided to pose for pictures. This morning, I had to scramble and pull the camera out of my bag. One of them went up the tree but the other one stayed behind and took a rear guard position pacing around the base of the tree in a protective manner.
You can never be too careful about wild animals. Raccoons almost never attack humans unless they are cornered or are protecting their young. So, I was never concerned about ending up as a meal. However, you have to always consider the possibility of them being carriers of rabbies. Discretion being the better part of valor, I decided our first meeting was long enough and so I departed. As a project, I’ll try to find a way to befriend them. I have yet to figure out how to do that but it will probably include making offerings of food and other delectable treats.
VIEW PICTURES OF MY NEW NEIGHBORS
I sleep by a spot that is shaded by a huge pine tree. I chose that spot because it serves as a barrier from chilly winds and moisture from cold mornings. I knew that the raccoons were up there and slept with my camera beside me on certain nights in case they decided to pose for pictures. This morning, I had to scramble and pull the camera out of my bag. One of them went up the tree but the other one stayed behind and took a rear guard position pacing around the base of the tree in a protective manner.
You can never be too careful about wild animals. Raccoons almost never attack humans unless they are cornered or are protecting their young. So, I was never concerned about ending up as a meal. However, you have to always consider the possibility of them being carriers of rabbies. Discretion being the better part of valor, I decided our first meeting was long enough and so I departed. As a project, I’ll try to find a way to befriend them. I have yet to figure out how to do that but it will probably include making offerings of food and other delectable treats.
VIEW PICTURES OF MY NEW NEIGHBORS
(Warning: The movie Pulp Fiction was released as Rated R. This particular scene is intended for mature audiences only. Parental Discretion is advised. If you are under the age of 17 seek your parent’s approval before viewing.)
A rare Bambina Day
|
Seeing my children is an event no matter how you look at it. It isn’t very often that I see them anymore after the state took away my Department of Real Estate License and my CA Driver's License. Things rise to a complicated ordeal when you are an indigent. Imagine being without a car and wanting to take your children out on an afternoon outing that has more than one stop. We have a good enough bus system here in the OC for going to and from work. However, Southern California is a place best traversed by car. It’s always been that way.
I’ve met other fathers in my situation – the dead beats, they call them. I’ve seen their self-loathing and their survivalist reactions to the way society treats them. What is most hurtful to a decent enough father is the accusation of child abandonment. I will have none of that. One thing that anyone will never be able to say is that I’ve abandoned my children. I’ve stayed around town primarily for that reason. I am a homeless person living my life in a five-block area of Aliso Viejo. I made sure that no matter what, they could always find me even if I don’t have my cell phone service, which happens often.
Thursday turned out to be a fantastic day. The weather was very typical of Southern California. It was sunny and warm, around the mid-80’s on the thermometer. I was at the Neighborhood Cup and unannounced walks in my daughter. After a short chat, we ended up having lunch at “Rubio’s Fish Tacos”. Fortunately, she had her mother's car. From there, we decided to partake the bounty that is SoCal and went to the beach – Laguna Beach – by Montage Resorts and spent about an hour and a half there.
There were many things on my mind and I didn’t realize what was happening. I wasn’t perceptive enough until we got to the beach and she showed me a picture she took with my camera. It was a picture of something she scribbled on the sand that said “Bambina Day October 22, 2009. Only then did it hit me.
My kids and I have a special day we spend together individually. For Ashley, the day is called "Bambina Day". Bambina is an Italian word for “little girl”. My son’s day is called “Boo Boo Dada Day” – words we coined when they were still very young – infantile and simple syllabic that even a toddler can pronounce and understand. The wide-eyed expression that it would elicit is something to behold, for they knew it was going to be more fun than whatever it was they were doing at the moment. There were no set dates, just impromptu trips anywhere their heart desired. The idea is to have bonding moments with my child individually, without the other sibling, so they have my undivided attention. In my pre-indigent life, the operative word was indulgence – I more or less indulged my child’s every wishes. The “Rubio’s Fish Tacos” was a favorite of hers even when she was still a little child. So, a trip there was always part of “Bambina Day”. But the day was about a conversation. Our chat drifted to the usual cares of the day – school, her boyfriend and all things that bring about the normal teenage anxieties. We ended our day-off way too early because of other commitments and she finally dropped me off at the Neighborhood Cup. Those father and daughter moments are always special and that was exactly what we both needed to balance out all the static noises of life.
Every morning I arrive at the Neighborhood Cup and look across the street where City Lights Apartments (LACAMBRA V SHEA PROPERTIES) is situated and I tell myself, “What you did to me was very hurtful to my children and I. It was reprehensible and beneath any measure of human decency. I am a passionate man with very deep feelings and I will not stop until I show the world what happened here. Only then will I be able to make my life whole again.
(I just gave psychologists, psychiatrists and shrinks of every form an interesting case study about the very complex human psyche. But I guarantee you, whatever their prognostications; they’re way off the mark. I’m not deranged, just incredibly pissed off.)
PICS OF BAMBINA DAY
VIEW OF CITY LIGHTS FROM THE CUP
I’ve met other fathers in my situation – the dead beats, they call them. I’ve seen their self-loathing and their survivalist reactions to the way society treats them. What is most hurtful to a decent enough father is the accusation of child abandonment. I will have none of that. One thing that anyone will never be able to say is that I’ve abandoned my children. I’ve stayed around town primarily for that reason. I am a homeless person living my life in a five-block area of Aliso Viejo. I made sure that no matter what, they could always find me even if I don’t have my cell phone service, which happens often.
Thursday turned out to be a fantastic day. The weather was very typical of Southern California. It was sunny and warm, around the mid-80’s on the thermometer. I was at the Neighborhood Cup and unannounced walks in my daughter. After a short chat, we ended up having lunch at “Rubio’s Fish Tacos”. Fortunately, she had her mother's car. From there, we decided to partake the bounty that is SoCal and went to the beach – Laguna Beach – by Montage Resorts and spent about an hour and a half there.
There were many things on my mind and I didn’t realize what was happening. I wasn’t perceptive enough until we got to the beach and she showed me a picture she took with my camera. It was a picture of something she scribbled on the sand that said “Bambina Day October 22, 2009. Only then did it hit me.
My kids and I have a special day we spend together individually. For Ashley, the day is called "Bambina Day". Bambina is an Italian word for “little girl”. My son’s day is called “Boo Boo Dada Day” – words we coined when they were still very young – infantile and simple syllabic that even a toddler can pronounce and understand. The wide-eyed expression that it would elicit is something to behold, for they knew it was going to be more fun than whatever it was they were doing at the moment. There were no set dates, just impromptu trips anywhere their heart desired. The idea is to have bonding moments with my child individually, without the other sibling, so they have my undivided attention. In my pre-indigent life, the operative word was indulgence – I more or less indulged my child’s every wishes. The “Rubio’s Fish Tacos” was a favorite of hers even when she was still a little child. So, a trip there was always part of “Bambina Day”. But the day was about a conversation. Our chat drifted to the usual cares of the day – school, her boyfriend and all things that bring about the normal teenage anxieties. We ended our day-off way too early because of other commitments and she finally dropped me off at the Neighborhood Cup. Those father and daughter moments are always special and that was exactly what we both needed to balance out all the static noises of life.
Every morning I arrive at the Neighborhood Cup and look across the street where City Lights Apartments (LACAMBRA V SHEA PROPERTIES) is situated and I tell myself, “What you did to me was very hurtful to my children and I. It was reprehensible and beneath any measure of human decency. I am a passionate man with very deep feelings and I will not stop until I show the world what happened here. Only then will I be able to make my life whole again.
(I just gave psychologists, psychiatrists and shrinks of every form an interesting case study about the very complex human psyche. But I guarantee you, whatever their prognostications; they’re way off the mark. I’m not deranged, just incredibly pissed off.)
PICS OF BAMBINA DAY
VIEW OF CITY LIGHTS FROM THE CUP
Mo Tales, Cigarette Butts
|
She invited me to coffee one cold morning and we agreed to meet at the Neighborhood Cup. I miscalculated how long it takes to get there and arrived a half an hour early and saw Mo’s Mom sitting outside waiting for the coffee shop to open. She was facing the street and didn’t see me as I was parking the car. From a distance I can see that she was having an imaginary conversation with someone. It was full of all the emotions and gestures of a mother reprimanding her child. She was looking down as if talking to a small child and wagging her finger in the air, almost in anger. I could only guess who the recipient of that imaginary conversation was. I walked closer and closer ever so carefully so she wouldn’t hear me.
This is what I heard: “You are such a bad boy. Didn’t I tell you not to stick cigarettes in my ears when I am sleeping, I especially told you not to put lighted cigarettes. Look what happened, it zinged some of the hair in my ears. You even made one of my ears droop lower. Why do you have to do that? Now, one of my ears looks like a Hush Puppy dog”.
Then, she turned around as she heard my footsteps. At which time I was greeted by a wonderful smile. “Hello, there”, she said. “Oh, hi”, I said. “They don’t open for another twenty minutes”, she said. “It’s a good habit to always be early, I said. “Whom were you taking to?” I asked. “I was practicing what I was going to tell Mo when I get home. I didn’t realize what happened until I saw myself in the mirror when I was about to put on my earrings. I didn’t remember putting earplugs in my ears last night. It was only when I took it out that I realized they were cigarette butts. I can’t tell you how yucky they were, and more than that something happened to my ears. Somehow it hears and feels foggy, actually it’s more on the side of smoky than foggy all because of those butts!”
Loan Mod Biz Slammed
|
MORTGAGE COLLAPSE
The exact day and time when the mortgage industry collapsed is open for debate. Some reputable publications including the “Heritage Foundation” said that it happened in late 2006. My best recollection tells me it was more like April 2007. When it occurred I was still a mortgage professional and was oblivious to what was happening in Wall Street and other financial centers that the mortgage industry relied upon to get their money. There were certainly smaller events that were ripples before the one great quake that brought the massive collapse. To me, that great quake came by way of television when the news announced that “New Century Mortgage” the Irvine CA based sub-prime lender was seeking bankruptcy protection. When the dust settled, it was evident that the incidence of loan default and foreclosures of sub-prime loans were significantly higher than they had expected.
The news created a panic and predictably investors pulled out of mortgage related investments, particularly sub-prime products, first slowly and then finally en masse. Over a span of a few days the money dried up on certain types of home loans. The news that came out of news outlets and investor relations departments of lenders were not very precise or forthcoming that even high-grade mortgage investments were affected. In those days, we used to receive multi-page rate sheets daily from lenders with all sorts of products on it – Jumbo, Conforming, Lines of Credit, 2nd Mortgages, FHA, Fannie Mac, Freddie Mac, Alt-A, B & C Paper, No Income Qualifiers, Construction and other exotic loan products. When the “Mortgage Tsunami” hit, the rate sheets had dwindled down from the usual 10-15 pages to about 3 pages. All that was left were the FHA, Fannie Mae and Freddie Mac products that had lower loan limits. At that time conforming loan products had a loan limit of $417,000. In Southern California, where most of the deals required Jumbo loans, the game was about over. We could not finance a house even if we had a gun trained on the lender’s head.
A NEW MORTGAGE INDUSTRY
It is not clear how many people were employed in the mortgage industry in 2007, but it seemed like every person had a relative who was a mortgage professional. One of the objections I used to get was a fast quip about how their cousin Aaron can get them a better loan even if I gave them a 0% loan. In Orange County, there were a lot of talented mortgage professionals that made it extremely competitive but also lucrative. Mortgage Brokering in those days was more of a lifestyle than a job and required a lot of schmoozing and all the accoutrements – a nice car, nice clothes and money to take your clients or potential clients out for some socializing and entertaining.
When the “Mortgage Tsunami” hit, most of the mortgage professionals I knew were up to their eyeballs in debt, to borrow a famous line from a commercial. The interest rates were historically low and property values kept going higher and higher. Everyone thought that the good times would never end. At the time, I was driving a Mercedes Benz C230 and still I was at the bottom of the totem pole. My colleagues at work drove exotic cars – Ferraris, Porches, Lamborghinis. And those who didn’t have exotics had top dollar SUV’s or other expensive toys. Expensive toys also meant expensive homes and expensive distractions. There were memberships at country clubs of all sorts – golf, tennis and everything in between. So when the funding dried up, it was time for another gimmick, one meant to continue financing the lifestyle.
In 2008, there was an attempt to pass new legislation called the “Emergency Loan Modification Act of 2008”. Because of the appearance of the word “loan” in the legislation, someone made the connection – what seemed like a sensible way to bridge their now dwindling income until things came back to normal. It seems like every mortgage professional with a license made the exodus thinking that they can just call a note holder, usually a bank, and tell them that their clients were upside down and demand that their loan balances be changed to a lesser number. It was a combination of naiveté and old fashion positive thinking at work. The math went like this: If the loan was already in default by a few months, the cost of a foreclosure and the hassle of selling a house during a down market should convince the bank that lowering the principal was the most rational thing to do. That way they didn’t have to go through the messy process of taking back the property. The punch line was, “The banks don’t want to take your property”. It turned out that they didn’t have a choice and they did. That’s when all the problems started.
If you’ve ever done business with a mortgage broker, you’ll know what an optimistic bunch they are. “We specialize in turn-downs. If you’ve been turned down by a bank, we will get you a loan”, they used to say. Some even had a mini-department that did nothing but fix your credit rating – the IO Department – Identity Overhaul Department. When I first started in the industry, it seemed like all you had to do was prove that you were alive to get a loan. If you can fog up a mirror with your breath you’ve got a loan.
I had an acquaintance who wanted to recruit me into the loan modification business. He showed me some boilerplate forms that appeared legitimate. The idea was to file a federal action and when in court take advantage of a statute that specifically required parties to bring the actual “wet copy”, the original signed documents, as evidence. Since most banks store all the documents digitally and have the hard copy stashed remotely or even purged, they were counting on the banks not being able to bring the documents to court. That’s a quick win, they would boast. The problem is the banks also have other legal games as part of their arsenal including waging a paper war that the client could not respond to or could not afford. So now, the mortgage broker is acting as the attorney because they are both broke and neither one can afford counsel. So by the time this whole ordeal is over, the broker had spent many hours on the deal acting like legal counsel and the client is out of a processing fee of about $2500 and is homeless. There was a unified cry of outrage from these victimized homeowners that reverberated and was heard all the way to the state capitol in just about every state.
CALIFORNIA SENATE BILL 94
The California State Senate passed a new law this week protecting homeowners from being bilked by unscrupulous companies who demand advanced fees to modify their home loans. The new bill, called SB 94, is the legislator’s answer to what has become a wave of complaints against loan modification and loan forbearance companies who ask for money up front but never deliver on the promise. The victims, mostly owners of distressed properties, pay advanced fees of anywhere between $1200 to $3000 hoping to lower the principal balance of their loans or change the terms of the loan to reduce the monthly payments. Many of the complaints also state that the providers of the services were not clear about the cost of the services.
The new law has two very important consumer protection elements. First, it is now a misdemeanor to ask a homeowner any fees upfront for “loan modification” or “loan forbearance” services to be performed and delivered in the future. Second, the provider of the loan modification or loan forbearance program has to provide a statement that itemizes the fees for the services written in 14-point bold type to ensure the homeowner understands the cost of the transaction before entering into it. The new law will be effective until January 1, 2013.
The exact day and time when the mortgage industry collapsed is open for debate. Some reputable publications including the “Heritage Foundation” said that it happened in late 2006. My best recollection tells me it was more like April 2007. When it occurred I was still a mortgage professional and was oblivious to what was happening in Wall Street and other financial centers that the mortgage industry relied upon to get their money. There were certainly smaller events that were ripples before the one great quake that brought the massive collapse. To me, that great quake came by way of television when the news announced that “New Century Mortgage” the Irvine CA based sub-prime lender was seeking bankruptcy protection. When the dust settled, it was evident that the incidence of loan default and foreclosures of sub-prime loans were significantly higher than they had expected.
The news created a panic and predictably investors pulled out of mortgage related investments, particularly sub-prime products, first slowly and then finally en masse. Over a span of a few days the money dried up on certain types of home loans. The news that came out of news outlets and investor relations departments of lenders were not very precise or forthcoming that even high-grade mortgage investments were affected. In those days, we used to receive multi-page rate sheets daily from lenders with all sorts of products on it – Jumbo, Conforming, Lines of Credit, 2nd Mortgages, FHA, Fannie Mac, Freddie Mac, Alt-A, B & C Paper, No Income Qualifiers, Construction and other exotic loan products. When the “Mortgage Tsunami” hit, the rate sheets had dwindled down from the usual 10-15 pages to about 3 pages. All that was left were the FHA, Fannie Mae and Freddie Mac products that had lower loan limits. At that time conforming loan products had a loan limit of $417,000. In Southern California, where most of the deals required Jumbo loans, the game was about over. We could not finance a house even if we had a gun trained on the lender’s head.
A NEW MORTGAGE INDUSTRY
It is not clear how many people were employed in the mortgage industry in 2007, but it seemed like every person had a relative who was a mortgage professional. One of the objections I used to get was a fast quip about how their cousin Aaron can get them a better loan even if I gave them a 0% loan. In Orange County, there were a lot of talented mortgage professionals that made it extremely competitive but also lucrative. Mortgage Brokering in those days was more of a lifestyle than a job and required a lot of schmoozing and all the accoutrements – a nice car, nice clothes and money to take your clients or potential clients out for some socializing and entertaining.
When the “Mortgage Tsunami” hit, most of the mortgage professionals I knew were up to their eyeballs in debt, to borrow a famous line from a commercial. The interest rates were historically low and property values kept going higher and higher. Everyone thought that the good times would never end. At the time, I was driving a Mercedes Benz C230 and still I was at the bottom of the totem pole. My colleagues at work drove exotic cars – Ferraris, Porches, Lamborghinis. And those who didn’t have exotics had top dollar SUV’s or other expensive toys. Expensive toys also meant expensive homes and expensive distractions. There were memberships at country clubs of all sorts – golf, tennis and everything in between. So when the funding dried up, it was time for another gimmick, one meant to continue financing the lifestyle.
In 2008, there was an attempt to pass new legislation called the “Emergency Loan Modification Act of 2008”. Because of the appearance of the word “loan” in the legislation, someone made the connection – what seemed like a sensible way to bridge their now dwindling income until things came back to normal. It seems like every mortgage professional with a license made the exodus thinking that they can just call a note holder, usually a bank, and tell them that their clients were upside down and demand that their loan balances be changed to a lesser number. It was a combination of naiveté and old fashion positive thinking at work. The math went like this: If the loan was already in default by a few months, the cost of a foreclosure and the hassle of selling a house during a down market should convince the bank that lowering the principal was the most rational thing to do. That way they didn’t have to go through the messy process of taking back the property. The punch line was, “The banks don’t want to take your property”. It turned out that they didn’t have a choice and they did. That’s when all the problems started.
If you’ve ever done business with a mortgage broker, you’ll know what an optimistic bunch they are. “We specialize in turn-downs. If you’ve been turned down by a bank, we will get you a loan”, they used to say. Some even had a mini-department that did nothing but fix your credit rating – the IO Department – Identity Overhaul Department. When I first started in the industry, it seemed like all you had to do was prove that you were alive to get a loan. If you can fog up a mirror with your breath you’ve got a loan.
I had an acquaintance who wanted to recruit me into the loan modification business. He showed me some boilerplate forms that appeared legitimate. The idea was to file a federal action and when in court take advantage of a statute that specifically required parties to bring the actual “wet copy”, the original signed documents, as evidence. Since most banks store all the documents digitally and have the hard copy stashed remotely or even purged, they were counting on the banks not being able to bring the documents to court. That’s a quick win, they would boast. The problem is the banks also have other legal games as part of their arsenal including waging a paper war that the client could not respond to or could not afford. So now, the mortgage broker is acting as the attorney because they are both broke and neither one can afford counsel. So by the time this whole ordeal is over, the broker had spent many hours on the deal acting like legal counsel and the client is out of a processing fee of about $2500 and is homeless. There was a unified cry of outrage from these victimized homeowners that reverberated and was heard all the way to the state capitol in just about every state.
CALIFORNIA SENATE BILL 94
The California State Senate passed a new law this week protecting homeowners from being bilked by unscrupulous companies who demand advanced fees to modify their home loans. The new bill, called SB 94, is the legislator’s answer to what has become a wave of complaints against loan modification and loan forbearance companies who ask for money up front but never deliver on the promise. The victims, mostly owners of distressed properties, pay advanced fees of anywhere between $1200 to $3000 hoping to lower the principal balance of their loans or change the terms of the loan to reduce the monthly payments. Many of the complaints also state that the providers of the services were not clear about the cost of the services.
The new law has two very important consumer protection elements. First, it is now a misdemeanor to ask a homeowner any fees upfront for “loan modification” or “loan forbearance” services to be performed and delivered in the future. Second, the provider of the loan modification or loan forbearance program has to provide a statement that itemizes the fees for the services written in 14-point bold type to ensure the homeowner understands the cost of the transaction before entering into it. The new law will be effective until January 1, 2013.
Second Season Ends
|
Many of the lawsuits that are now in the process of being transferred to the US Courts (Federal Jurisdiction) may include my children as Plaintiffs when it is re-filed. The legal system does not permit minors to initiate legal actions in court. However, February 5th this coming year marks my daughter Ashley’s 18th birthday making her an adult and by law possessed of legal capacity to bring a legal action to court. Apart from the fact that I am an indigent, both my children are minors which partly explains why the refiling has been delayed. One question that I will pose to my daughter when she turns 18 is if she might consider participating in the lawsuit as a Plaintiff. Many of the actions that I have brought to the Superior Court have aggrieved my children just as much as I – depriving them of their individual rights and causing them considerable physical and mental anguish. Based on available statutes, they can wait until they turn 18 years old to file a case without fear of it being barred by the statutes of limitation. Certain theories in law provide for “equitable tolling”. The Law Dictionary defines “tolling” in this manner:
TOLL v. 1) to delay, suspend or hold off the effect of a statute. Examples: a) a minor is injured in an accident when he is 14 years old, and the state law (statute of limitations) allows a person hurt by negligence two years to file suit for damages. But for a minor the statute is "tolled" until he/she becomes 18 and decides whether or not to sue. Thus the minor has two years after 18 to file suit. b) state law allows 10 years to collect a judgment, but if the judgment debtor (party who owes the judgment amount) leaves the state, the time is "tolled," so the judgment creditor (party to whom judgment is owed) will have extra time to enforce the judgment equal to the time the debtor was out of state. 2) a charge to pass over land, use a toll road or turnpike, cross a bridge or take passage on a ferry.Many things have happened in the last 12 months. The most important and the one that we are most proud of has to do with the filing of the McLain v Golden Rain Foundation case with our friend Roy. That particular case has far reaching implications on the way retirement community by-laws are developed and passed that we feel society will benefit from it immensely. The action hopes to create systems that include having laws crafted that protect the retirees from irresponsible and negligent governance by their homeowners associations. We are very pleased to be a part of that action and hope to affect change in that area in the near future.
The biggest set-back of the year was certainly losing my car - the '98 Chrysler 300M - that for many months served as my home, my storage unit and music room. It was towed away by the OC Sheriff’s Department on the 9th of June for expired registration. The car was given to me by a friend who neglected to sign the pink slip over to me. I wasn't able to register it properly without his conveyance. Prior to the towing, I was searching for him but could not find him. The last time I heard he went out of the country. From that moment on I was literally living on the streets. It may have been sheer luck that the weather has been cooperative. But that will soon change as winter rolls in and we will start getting rain. Living on the streets isn’t as bad as I thought it would be. The phrase “sleeping on the streets” is a more apt description, as the situation requires some sleep when it gets dark. There are many places that one can now go to escape the elements. There is a “Subway Restaurant” that is open 24 Hours located right in the heart of Aliso Viejo. The Neighborhood Cup opens at 6 O’clock in the morning. Barnes & Noble does not close until 11PM. The Aliso Viejo library opens at 10 and does not close until 9PM during weekdays. They have short hours during on weekends. So, staying indoors can be done quite successfully.
When I was still in the selling profession, I created visuals to motivate myself and create potent and actionable goals. One year I was able to make capital purchases with hard cold cash. I once purchased a brand new and fully-loaded ’97 Isuzu Rodeo SUV with cash when my children were still very young. I even built a tuner car in 1998 and paid for everything with cash. Such is the power of the motivated mind. If you can place yourself in a compelling place somewhere in the future and your heart and mind are convinced it is attainable, you will find a way. It has to be vivid enough so the mind has a reason to overcome the obstacles and the heartaches that are inevitable. I have a dream/goal that is easily attainable if I were back in the selling profession. I just need to figure out how much units I have to sell in relation to the money I need to make. It’s a different story altogether if I were to try to do it in the field of law. Nevertheless, my dream/goal is compelling enough that I am never of lack of motivation. One material goal I have is simple. I see myself in a small Italianate detached home with a three-car garage. In the garage will be three brand new vehicles – a Red MX-5 Miata, a Pearl White Mazda 5 and a Blue Mazda CX-9. I have had that dream for about 3 years now and it has only intensified.
There are many other dreams for my children, my career and my future family. I have even found the perfect and the only woman who is equal to all my lofty dreams. She’s the one that I’ve been saving myself for (haha!) as I cannot imagine sharing my dreams with anyone else. She’s also, quite easily, the person who has kept me in one whole piece when everything around me seems to wish that I did nothing but crumble. She knows nothing about my feelings about her. They say timing is everything and the timing right now is horrendous. Until my situation gets substantially better, it will be a wonderful dream. The thing is, when every thing is taken away from you, you had better find a dream that can sustain you because if you don’t you will find yourself in a whole world of hurt. Fortunately, my dreams could not get any grander. My life is awesome that way.
The Third Season of RobertsJustice begins now …
Yestradamus 100709
|
CONTINUED FROM YO9O709
That afternoon, I found myself looking at the face of the most beautiful woman that I have ever known. I was braving what I knew will amount to severe punishment for violating certain relationship rules. People enter into relationships expecting half of your life would be brought to the table. I’ve gone on dates with women who neglect to introduce you to people they know. Not that they would be embarrassed to be seen with you but because they lack social graces. When you are in a relationship, omission of facts and failure to report things like when your face got rearranged a little bit is a major infraction.
In a relationship, there are many things that are expected – sharing your day, sharing your time, sharing this and sharing that. The word sharing is especially critical because if you exile the first syllable – “sha” – you end up with just the word “ring”. To a woman, a ring is not everything. But within the context of your relationship with her, it counts for much. It frames what kind of a relationship you both share. It’s a mystery to men that they will never figure out but wholly intuitive to a woman. You can be the stupidest moron on the face of the earth but when you whip out that ring, it’s like every unremarkable thing, every monstrosity that you’ve ever committed before is completely erased. This is the moment the refresh button is pressed. It was that kind of a meeting. I had to prove to her that my love for her is pure.
It was a choice of many things – a friendship ring, a boyfriend/girlfriend anniversary ring, an engagement ring, a wedding ring or simply a make up ring - all of which were being considered so I can continue on my mission and break up what has now proved to be a “Pot Ring”. The important thing about going undercover is that you must commit to symmetry. You have to dress the part and act the part. I was going undercover as a “high-school student” so that means I live on a budget given to me by my undercover parents. It is called an “allowance”, which really is a joke. And based on that mere pittance, the only ring that I can afford was the give-away inside a “Cracker Jack”. None of which would even come close to looking like a real thing making the situation even worse. Given those sets of facts, the punishment had to come in a different form – something that she’ll have to dish out to me and which I in turn will accept in a gracious manner.
“What are you doing tomorrow?”, she asked. “I have to meet with some friends, why?”, I responded.” She looked at me and said, “Clear your calendar this entire week for me. You will pick me up from my house and we will go to school together. You will have lunch with me and after school you will come with me”. Can I at least show my independence by throwing in a voice of dissent? I asked. “No”, she said. “Can you at least give me a hint of what my punishment might be?”. "I’ve volunteered for the “Annual Thanksgiving Day Feeding for the Homeless” sponsored by my cheer club. I’ve been asked to do the food shopping. I was also asked to do the shopping for the gifts that we will give away on Christmas about a month after Thanksgiving. I will need someone to help me with all the groceries.", she replied.
My fears were not realized. It wasn’t punishment at all. But, under normal circumstances, any man, much less a high school student is the last person you’d want making shopping rounds with you. Scores of people develop mild to severe depression during Christmas because they ended up with thoughtless and impersonal gifts that were hastily culled from the department store bargain bins - the miniature tool set in a wooden case, the matching his and hers toothbrush and toothpaste set, the picture frame ensemble, the perfume and soap combo in a stylish bag …
TO BE CONTINUED
(Analyst X147)
Subscribe to:
Posts (Atom)
