Archive for the 'Mortgage Debt' Category

Independence Day: Choose the Thoughts You Will Entertain

Friday, July 4th, 2008

I started thinking about this day and what it means, in light of the current economic and emotional climate, early this morning. Our founding fathers, member of the 2nd Continental Congress, announced their intention to adopt the Declaration of Independence on this day in 1776. They declared their right to form a new country, to govern themselves and to CHOOSE a new way of thinking that elevated Liberty and the pursuit of Happiness in the consciousness of their citizenry.

This day we celebrate is in commemoration of our collective spirits standing together and saying, “We will partake of our unalienable right to live our lives with Liberty and in the pursuit of Happiness.” It is NOT a day where we are to shrink with fear about our futures.

The U.S. has been through some pretty tough times in the last 232 years, starting with the fight for our independence, the Civil War, WWI, the Great Depression, WWII, other recessions, etc., and now our current travails. The reason I point this out is that we’ve survived and even thrived after all these shocks to our collective systems, and we will again survive and rise from this low-point again too. That’s just who we are.

I wonder what the signers of The Declaration would say to us if they were living in these times?

I think they would tell us to un-plug from the collective fear that’s paralyzing our national psyches and start focusing instead on what we want to accomplish – not on the fear driven headlines. Many of the signers of the Declaration of Independence faced terrible circumstances for their stand on the Declaration. Some were killed by the British, or had family members killed, many went broke and lost everything they owned but they felt the outcome was worth their sacrifice and so they pressed on despite the odds. And that’s what we have to do now. Press on and focus on the good that exists right now in our lives – now matter how small it appears.

I’m going to begin my celebration of this day by focusing intently on what I know is the Truth about the USA. We are a great and resilient people and I see us prevailing and prospering thanks to each of us exercising our Independence from the collective negativity we’ve allowed to take hold of us. Opportunities still exist. It’s up to us to begin noticing them. Not unlike when we buy a new car and start noticing that car everywhere afterward, we must practice focusing on seeing opportunities. Whatever we choose to focus on expands.

I choose to focus on limitless opportunity for all. What about you?

All is Well And I Have Enough

Wednesday, July 2nd, 2008

Yesterday Steve made the following comment about the post, Is Advertising Making Us Poor?

We recently watched “Finding Nemo” on network TV. I was floored. It was nearly impossible to watch with all the commercial breaks. We decided to time it as I was sure the breaks were longer than the movie bits. Sure enough, eight minutes of Nemo, and 13 minutes of advertising. Unbelievable. No wonder kids have ADD, and want everything they see.

“The things we own, end up owning us.”
-Tyler Durden, Fight Club.

Angela writes:

Isn’t amazing what we’ve learned to put up with? I say - Turn off the TV!

First we’re bombarded with advertising to buy, buy, buy, and then we’re barraged by headlines saying that the economy is tanking. I think we need a national media black-out day where everyone just lives their lives and listens to their heart instead of media. Whatever we focus on expands.

Let’s all start thinking - All is well and I have enough!

Would our world change if we all collectively changed our thinking? My gut says YES.

Let’s get a dialogue going on this topic. What do you think?

Moving Day

Wednesday, June 25th, 2008

Yesterday was a beautiful June day. It was too nice to be stuck indoors. Around 11 o’clock I could resist no more and slipped away from my desk to take a walk in the brilliant sunshine.

A few blocks from my house I rounded a corner and saw a moving van in the driveway of a cute brick ranch. The lawn was dotted with open boxes and odds and ends. A woman wearing a baseball cap sat on the lawn petting her dog as she watched the movers bringing her possessions out of the house. As I got closer I spied a county sheriff’s car that had been hidden by the huge moving van, and two police officers leaning up against the car overseeing the scene. I suddenly wished I’d chosen a different path to walk.

The woman sat perfectly still as I passed. Only the two policemen turned to look at me. I cannot imagine what that woman was feeling as her home was emptied by strangers. I had a lump in my throat as I choked back tears and sadness for this woman. It’s a scene I hope I will never see again.

Today The New York Times reports that Congress is working on a new bill to help home owners facing foreclosure. It can’t come fast enough as far as I’m concerned.

To read the full NYT article paste this link into your browser:


More Depressing News About the Housing Market

Monday, June 23rd, 2008

U.S. Housing Rebound to be Prolonged: Harvard Study

By Lynn Adler

NEW YORK (Reuters) - Record foreclosures and limited access to credit will make it harder than usual to rebound from this U.S. housing market slump, the worst at least since World War Two, according to a Harvard University study on Monday.


This isn’t the news anyone in the real estate industry wants to hear, but I can’t say I’m surprised. My gut feeling is that we will not see a real thriving RE market for another 5 years, or so. That said, I think it’s time we Americans re-evaluate our continual striving to trade-up and take on more debt. Maybe this go-round with a depressed housing market/economy will allow us to ease-up on ourselves and be happy with what we’ve got?

Would you rather have a really big house, or really big life?

Any opinions on this? Please share.

To read the entire Washington Post article paste this link into your browser:


Want Advice About Buying Your First Home? Start Saving!

Sunday, June 22nd, 2008

Many people are still very unrealistic about what it takes to get financing these days. Despite the unrelenting headlines some people still don’t get that there’s a credit crunch going on that’s not about to end anytime soon.

A friend of mine had the following experience while working with a young couple in their early 30s looking to buy their first home. Both had excellent jobs with strong income. Between them they were bringing in over six figures a year, and their rent was a meager $1400.00. When she heard that she was elated. She thought these two were going to be a shoe-in for a loan. The trouble came when she asked about a down-payment. They hadn’t saved any money at all and wanted 100% financing.

They’d both been working for at least 8 years making oodles of money but they hadn’t saved anything, aside from their 401Ks which, thankfully, they wouldn’t touch. They were also leasing expensive foreign cars and had huge credit card debts that were never paid off because they just kept buying more and more stuff every month

When she told them they were going to have to start saving money, you would have thought she’d thrown holy water on Linda Blair’s character from The Exorcist.

“You only need to save up about 3% to qualify for an FHA loan,” she said as gently as possible. They still didn’t like it one bit. After their heads stopped spinning around they said they’d go home and talk about it, but she confided that she was pretty sure she wouldn’t be hearing from them again. She said she didn’t think either one was willing to give up a latte, let alone their $1000.00 per month shopping habit to save for a house. It’s a shame too, because with their income they could have afforded a really nice house.