Comments on: Leading By Example

By: Jacque

Jacque — Wed, 05 Aug 2009 23:17:13 +0000

Sad news on ABC tonight. Seems the government can shame auto ex,s for arriving in D.C. on private jets, they can ruin 70,000 retiries from those auto companies by cutting health and pension benifits but they can turn arround and spent millions on 3 luxury jets for the purpose of transporting members of congress on their little junkits. Just don’t see right……

By: chale espinosa

chale espinosa — Wed, 13 May 2009 14:02:46 +0000

Who are the parties at fault.
The borrower made a bet that rates would not go up (Did not take into consideration the economy would go down) and a conscious decision that if they did he would walk away, I infer this by the very low down payment.
The Bank is also at fault, and I make a hypothesis that in their haste also made the decision to lend with a low down payment on someone who they thought would not walk away from the property.
So, both parties are at fault. Know it seems it would be in banks interest to renegotiate interest and terms rather than having an asset deteriorating and not getting ANY monies. As a borrower would much prefer to work with lender and work out something were both parties win.

By: Ben

Ben — Tue, 12 May 2009 01:43:37 +0000

Its good to see someone lead by example. CSU northridge are doing stories on the people that form leaders there.
If you want to see leadership in action check out csun leader episode 4, you can watch on you tube. Thank for you time, nice blog.

By: Fix government and clean up the country

Fix government and clean up the country — Sat, 25 Apr 2009 04:19:47 +0000

Lots of issues on this one.
First, 7% is a very attractive rate. The difference between 5% and 7% is not all that significant. When I bought my house in 1980, the banks were getting 20% for 30-year fixed mortgages. It seems that people in this country have lost all perspective on where we have been in the past.
Second, taking an adjustable mortgage is stupid. It should be done only by someone who is absolutely sure they can handle the new rates or just pay off the mortgage, when the rates go up (and it is a given that they will). Otherwise, the borrower is just asking for trouble.
Lastly, this turkey’s political career should be finished. He obviously has not got any financial savvy and cannot handle the simplest matter–not taking a mortgage he cannot afford. He would be a disaster in managing a government budget. And, he would be just the kind of fool to pass laws that allow junk borrowers and dopey lenders to do the kind of stupid loan writing that has brought the world financial system to the brink of collapse and thereby destroyed our retirement savings and our futures. The innocent have suffered severely at the expense of loser government officials like this turkey.
In summary, we do not need any more financial dummies in government. We already have Nancy Peelousy, Barney-Fife Frank, and Christopher Dudd.

By: Sloman

Sloman — Fri, 24 Apr 2009 19:27:29 +0000

With the economic situation in all of Michigan in such dire straits it seems the bank is trrying to get every penny it can before people walk away. I wonder how much luck the bank will have selling the house? As for the councilman, he may be able to at least retain his seat with an “I’m in the same boat” campaign.

By: DB

DB — Fri, 24 Apr 2009 19:13:33 +0000

Sadly, at the very time the citizens of Detroit are trying to survive a mass exodus of people and companies, dismal schools and severely reduced public services one — and perhaps more than one — of their city “fathers” seems to lack basic financial and economic savvy.

By: MiMi

MiMi — Fri, 24 Apr 2009 15:07:43 +0000

Is it any wonder that Detroit is in such deplorable shape given the actions of their city councilmen and women. Do city’s really want someone on the city council who is incapable of making sound financial decisions. I think not. If the voter’s had any sense in Detroit not only would they denounce Kenyatta as the fool that he is but they should never give him the chance to run for mayor!

By: Lisa Simeone

Lisa Simeone — Fri, 24 Apr 2009 11:39:49 +0000

I don’t know what to say about this. I still find it baffling that anyone could go for an adjustable rate mortgage, ever. It just sounds insane to me. Though I admit that financial talk makes my eyes glaze over, I do have common sense. And my common sense tells me that adjustable rate mortgages are a scam. Anyway, Detroit’s got so many problems, I’m not sure what the voters will make of Kenyatta’s troubles.