Bankruptcy is an uncomfortable subject for a variety of reasons. The most obvious is the potential havoc it can wreak on your finances. Running a close second is the negative stigma that is often attached to the process. This negativity is important to mention because strong emotions can sometimes lead to unsound financial decisions with devastating results.
Bankruptcy becomes a viable option for someone who is "upside down" in terms of cash flow. In other words, when a person has more money going out each month than coming in, bankruptcy should be considered if no reversal of this negative cash flow is within sight. The longer someone waits to explore the various options available, the more serious his or her situation may become.
One of the worst things people can do in this situation is to borrow more money to try and pay off their debts. On paper, this is clearly an unwise financial decision. In the real world, however, it is very common for individuals to pursue this strategy in an attempt to buy time and hold off on filing for bankruptcy. On the surface, this is certainly a noble notion; however it can often compound the problem and serves only to delay the inevitable.
For many homeowners in the midst of this upside down cash flow, speaking to a qualified mortgage professional is a much better option. An experienced loan officer can objectively look at your finances and help you determine if restructuring your mortgage would not only help, but possibly even alleviate any need for bankruptcy.
If bankruptcy is the only option, seek out a reputable bankruptcy attorney and credit counselor. A qualified mortgage specialist can provide references for you as well, as he or she works with these professionals on a regular basis. Reliable references are essential in this case because experienced professionals greatly increase the odds of a successful bankruptcy experience. It's that simple.
When filing for bankruptcy, be completely honest and accurate regarding every aspect of your financial situation. This includes any changes to your income, which may occur throughout the process. Bankruptcy is a federal procedure, adjudicated by real judges, and scrutinized by representatives who coordinate with the Department of Justice, the FBI, and the IRS.
Here are some additional steps you can take to make the bankruptcy process as painless as possible:
Save all paperwork regarding your bankruptcy, and keep it organized. This will prove beneficial after your bankruptcy as you now have all of the pertinent information in one place. Also, be sure to write down your discharge date. It's surprising how many people forget to do this.
Establish a household budget. This can be accomplished in many ways, but there are several inexpensive computer programs available which do an excellent job.
Throughout the bankruptcy, do your best to not only live below your means, but to save as much cash as possible. You never know what you may need it for once the process is completed.
Be prepared for a barrage of junk mail. There will be sharks on the loose that are hoping to capitalize on your need for credit.
Tips for Rebuilding Credit:
If you must buy a car, focus on transportation as opposed to style. Buy an inexpensive, used car, and try to get a loan for it. It's a good idea to figure out what your budget allows in terms of a dollar amount first. This means obtaining financing prior to looking for a car.
Get a secured credit card. Secured credit cards allow for the cardholder to deposit a said amount of money into an account, thus establishing the spending limit of the card. Missed payments result in deductions from the account. Some of these cards will reward responsible borrowers by upping the limit without an additional deposit. Some will even convert the account into a traditional credit card. (Be wary of offers of "easy credit" or any card that asks you to call a 900 number. You will be charged for the call.)
Meet with a credit repair specialist. Not only can they help you clean up the damage to your credit report, they can advise you on specific ways to rebuild the credit you lost as well.
While it does take time, there is definitely life (and credit) after bankruptcy. Some mortgage lenders will even lend to you within a year or so after a bankruptcy. If you're in serious financial trouble, the trick is to get the help and advice you need from professionals you trust.
There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and pre-paying principal? Let's examine the pros and cons of both strategies.
Leveraging Your Property. In order to understand why you'd want to borrow as much as possible for your home purchase, you must first grasp the concept that equity has a zero rate of return. Here's an example:
If Consumer "A" buys a home for $300,000, and puts 20% down, then they have $60,000 in equity. Over the next 5 years, the property appreciates $100,000 in value. Consumer "A" now has $160,000 in equity.
Consumer "B" buys a home for $300,000, and puts no money down. At the end of 5 years, that same home is now worth $400,000. Consumer "B" has $100,000 in equity, which is the same appreciation as Consumer "A", a net $100,000.
As you can see, your down payment has nothing to do with your rate of return. What becomes important is how you choose to manage the $60,000 you didn't use as a down payment. If you use it for frivolous activities, such as buying toys or going to Las Vegas, it would be more prudent for you to use that money as a down payment. Especially since this will enable you to obtain a lower interest rate.
However, if you were to invest the $60,000 in a vehicle that can out-earn the cost of that debt, then this could be a formula for success. This is why some lending professionals suggest putting as little down as you possibly can, maximizing your tax write-off, and investing the rest. This principle has been applied for many years in the life insurance game. The old saying goes, "Buy term and invest the rest." The key component is taking the money you would have used as a down payment and creating an asset accumulation account. This account should earn a significant enough rate of return to enable you to pay your mortgage off entirely and achieve the ultimate goal of being debt-free.
Paying Your Home Down Rapidly. There are very few times over the course of my career that I have seen a client with zero debt and no financial difficulties. Choosing to pay off all of your debt can reduce stress and help you to gain freedom of cash flow for investment opportunities. A 15-year mortgage or a bi-weekly payment strategy provides structure. It can also put you on track to have your mortgage paid off within a set timeframe. Simply put, it contains built-in discipline.
It's important to understand that regardless of how rapidly you pay your home off, you're not getting any greater rate of return on your investment than if you paid it off slowly.
Conclusion. So how does one determine which scenario is best? The choice depends entirely upon the individual. Savvy consumers who are disciplined, and are comfortable taking chances from an investment perspective, would do well with the first scenario. Over the course of time, it's been proven that your rate of return over the long-haul will be far greater than the rate you'd pay for a mortgage in today's rate environment. It's important to seek the advice of a skilled investment advisor to ensure success with this strategy.The second scenario is best for those who have a difficult time managing their money or who'll sleep easier at night knowing they have a plan in place to pay their loan off more rapidly. Be sure that your budget can handle accelerated payments. When consumers "bite off more than they can chew" with a 15-year mortgage, they frequently end up having to refinance back into a 30-year schedule.
If you find this subject intriguing and would like to know more, I recommend that you read a book titled, Missed Fortune 101, by Douglas Andrew. It's an outstanding read that is very simplistic and goes into far greater detail than I can cover in this column. Douglas is a financial planner who advises safe-structured investments such as whole life policies and tax-free fixed income instruments.
As the "stupid" continues to fall out of the "politicals" mouths on Capitol Hill talking down to the masses pretending to have special enlightenment on the problems they helped create the rest of us on the front lines for over two decades actually understand the problem and saw first hand what happened, why it happened, what needs to be done and alas we are never asked.
The "food for thought" fed to our mis-guided lazy representation (on both sides of the isle) comes from the status quo lobby that got us here. I hope you do not think this "stimulus" package is the real deal - it's not.
A simple cost neutral and until its demise effective tool to help stabilize home sales is the down payment assistance program.
I realize there are folks out there that seem to think the reason for this calamity is driven by the fact that people didn't invest by putting a substantial down payment and that's the reason they are struggling. Or there was some conspiracy with the Appraisers and so forth (like the AG of NY seems to think). As I have pointed out in the past in my responses to those with that opinion and in other blogs the evidence to support such thinking is anecdotal at best and in fact the bottom line in prudent lending determines the borrowers ability to repay the loan and frankly down payment does not necessarily reduce the risk of loan default.
Don't get me wrong I think saving your money and having a nest egg, or money put aside for a down payment is a good thing but if you were to ask the folks that put 20%, 30% or more down three years ago on their purchase wish they had kept it in their bank account (compounding modestly) particularly those who are now out of job and could use the cash!
Cash compounds and equity doesn't and in a calamitous market like this the equity or what I refer to as a lazy asset has disappeared.
If you look at the month of October 2008 you will see the down payment assistance program played an important role and since its demise courtesy of the idiots at HUD and friends in DC a once revenue neutral invaluable tool and opportunity for folks to take advantage of the lower home prices is gone. The spiral of foreclosures continue and try making an offer on a foreclosed home - plan on waiting six months for a response on your offer! There are folks that have good jobs and can make the payments no problem but don't have the cash.
Have you ever written to your representation in DC? I have over and over and I get the postage stamped non-response response. What a world we live in. In order for you or me to be heard is to form a group and lobby if we have the resources to fly back there to do so.
My call to action is to everyone out there - Buyer, Seller, Realtor, Title Company, Appraiser, Escrow, Lender, Bill Gates - all of you. It is important you contact the folks in DC and tell them to bring back the down payment assistance. If you think this is a minor little point I ask you to visit this link:
Get your head out of the sand. You are employed for now but for how long? 2009 will be worse than 2008 in many ways and the evidence has already shown itself with more to be revealed. It's time America. Sitting on your hands only makes them fall asleep and you need to be beating your representatives over the head by phone call or email but you need to do something.
Despite the non-response response I keep going at them and I will continue to do so until they start moving the right direction. This isn't just about me it is all of us. I too in the past had "sleepy hands" but the writing is on the wall so I choose to act. How about you?
For those of us in the industry for over 20 years instinctively knew Paulson's "plan" was a sell job more than a solution. If you thought the government had a "plan" after collateralizing the taxpayer for 700 plus billion I'm sure after this press conference it is now clear they did not.
Mr. Paulson says the facts changed on the ground and the fact is they did not. The derivatives' were worthless then they are still worthless now and this is the big lie. Congress saw the politics of it and passed something for the sake of passing something for political cover. This Treasury secretary is talking down to the public and cannot come out and say they don't have a plan.
Barney Frank, Chris Dodd, Nancy Pelosi and Harry Reid (leadership) and friends (on both sides of the isle) have some explaining to do. They clearly have no idea of how our business works. As Barney continues to hold the "blame game" hearing instead of hearings to learn about how the credit markets work is shameful. Again this is an exercise of political cover more than the good of the American people. Again this is shameful.
If you are struggling on your mortgage payment and call the servicer of your mortgage (the name of the company that accepts your payment each month) you can expect little or no relief.
First off they (the servicer) do not own the note to your mortgage. Someone else owns your note and that someone else has no financial incentive to negotiate anything otherwise they take a financial hit. So when you talk to your servicer for relief you may as well talk to your dog.
Even though the previous statement is bleak I will recommend you call your servicer to let them know of your situation and I would still recommend you try to make it work understanding you may need a contingency plan.
If you think the next administration is going to "solve" this you are wrong after all it is the same congress with even more power than it had before and remember this congress has a 9% approval rating. An approval rating that is substantially lower than the lame duck president so please be realistic.
The days of sitting on your pen instead of picking it up is gone unless you think sticking your head in the sand is a solution. CALL or EMAIL your representation NOW. Tell them you expect them to understand the problem and address this problem. TELL THEM TO QUIT PLAYING POLITICS WITH YOUR LIFE. Tell them you want to talk to your note holder and negotiate the loan. Tell them to focus on the problem.
If you want the bleeding to stop you must apply pressure to the wound not somewhere else wouldn't you agree?
Remember, "If you keep doing what you're doing you only get what you are currently getting" and in this instance "we the people" are getting crap on a platter and putting a bow on it still makes it crap!It is time for all of us to contact our representation or expect nothing!
I wish you all well.
PS. Thank you for indulgence. This is a bit of a rant today.
Welcome to the Republic of Wall Street formally known as the United States of America. Once again "we the people" are being used as collateral to bail out the incompetence of our elected officials. The original focus was the point of origination but finally the real culprits are getting the exposure they deserve.
Certainly lenders have a role in this and nobody will defend them just look at all the print and media coverage. What has been missed all this time and is the epicenter or ground zero to this calamity has been the free wheeling secondary market Fannie Mae & Freddie Mac & racketeer friends on wall street. You can't find them now because they are floating away with the help of their golden parachute. (the recent exception to this is Fannie/Freddie CEO's).
Two men I have tremendous respect for and trust is Henry Paulsen (Treasury Secretary) and Ben Bernanke (Fed Chairman). They have been put into a no win situation and have been asked to square off with the Senate Banking Comittee to sit and listen to the sound of hot air coming out of Chris Dodd, (the chair of Banking Committee) and the other blow-hards on both sides of the political isle.
Now that the curtain has been pulled back we now with clarity can follow the money. Senator Elizabeth Dole (R) North Carolina in today's hearing points out that in 2005 the then Fed Chairman Greenspan warned that if Fannie & Freddie are not regulated the results will be a calamity in the markets. She also pointed out that when efforts were made to follow the recommendations 100 million was spent by the lobbyists for Fannie and Freddie to prevent more regulation. Obviously the lobbyist won and that is why we are here today.
By the way Chris Dodd (D) Mass the Chair overseeing the Banking Committee was the number one benefactor in campaign donations from Fannie/Freddie. Presidential candidate Obama was the second. Believe me there is blame throughout this entire congress. This Bush administration, the last three including Clinton, Bush 41 & Reagan administrations so this problem is bi-partisan in nature and the reason we are here today.
Listening to the questions from the senators wanting specifics quantified for them is laughable. Have you ever heard of any politician when they make promises or offer up a solution quantify those promises or solutions? Then the capper and there is always one idiot politician that asks...."Do you think Wall Street owes Americans an apology?" Are you kidding me? I hope that idiot finds a mirror and asks that question again replacing Wall Street with Congress!
This is a sad day for our system politically and financially. Strip this all back and the blame goes to our representatives....all of them. Give them a call or write to them and let them have it....THEY DESERVE IT!
History tells us again and again how money influences the politician. We are witnessing the results of years and years of pocket lining to our politicians from Fannie Mae, Freddie Mac and other "money houses". The chickens have come home to roost.
If you think "your" political party is immune and has the higher moral ground or corners the market in enlightenment then you are delusional. If you still think it (your party) does after reading the previous statement then you are an idiot. I am begging you not to vote because you're an idiot if you think your party is clean on this.
Why such venom you may be asking? As noted in my previous blogs over and over again the lack of oversight by the SEC, ALL the regulatory agencies, the House of Representatives and their committees and the Senate and their Banking/Finance committees is of staggering proportions. I mean STAGGERING proportions.
The level of incompetence by Pelosi, Reid, Barney Frank, Chirs Dodd, George Bush, Bill Clinton, Newt Gingrich, Bush 41, Ragan, John Kerry, Hillary Clinton, John McCain, Barack Abama, Ted Kennedy Joe Biden, Bob Dole, Robert KKK Byrd, Bill Frist -- so many losers/criminals so little time. I can go on for days with more names....All of them should loose their pensions for gross incompetence and for putting self interest or self preservation in front of what needed to be done and managed in this country.
I know I sound like a crazy-man right now but consider this. YOU ARE NOW COLLATERAL. That's right you are collateral just like your house or car. The government is printing money to pay off the bad behavior of the money houses, the rating agencies and yes bad behavior by the lenders. After making billions it is costing us the tax payer billions and they (the fat cats) go home with the money and guess what that means for you and me?
The reason why you are collateral is payola. Money given to the politicians by the special interest groups that represent all the players you are reading about in the news today. Does that sound too simple for you? It should because it IS that simple. There is no other explanation. They all are career politicians and no matter who was in control or in office for how long the bottom line is all this was happening in front of them and they KNEW there were problems. They acknowledged it in the 90's but payola got to them. THEY WERE GETTING COMPLAINTS FROM THE STATES all over the country and they were ignored by BOTH parties because payola got to them.
The number one "Bad Guy" in the lending world a few years ago was the national sponsor for the NFL so when I say it was right in front of them I am meaning right in front of them- yes your beloved representative.
Did this happen over night? NO and HELL NO. Once upon a time not so long ago the economy expanded more exotic "thinking" was occurring then in the 90's we were getting more exotic and everybody was getting rich and the money was pouring into politicians pockets like a down pour. Everybody slapping each other on the back taking credit for the strong economy and getting rich themselves.
Everyone of the above names dead or alive are well off and many of them earned it the old fashioned way....payola!
Now I do apologize for this crude presentation but I cannot emphasize enough the function of oversight. Have you ever noticed when something big happens congress starts rushing for the cameras (stuffing money from the special interests on their way to the cameras) only to tell the public what they are going to "do for us"? Then a bunch of regulations pop up usually bad ones that need to be fixed later but this all happens because of LACK OF OVERSIGHT. They are too busy filibustering over whether we should have a symbolic vote about something that means nothing to nobody but them!
If they did their oversight we wouldn't need bad regulation just regulation that would correct as we went along. A tune up here or a tune up there. Instead we have this calamity and in the end the stewards of our country failed miserably. They try to deflect it off themselves by searching for someone to blame and there are villains but they need to look inward to find them.
It's yet to be determined the total cost but it will cost us all very dearly and some very nice people will be victimized because of their pensions being devalued or wiped out, the loss of jobs because of the frozen credit markets and so it goes. There will be no corner of this economy that will go untouched.
I have never felt so sad. I am an optimist by nature and my trade requires it. But I am very sad for all of us. I hope "we the people" have learned that we cannot sit and let our representation talk down to us anymore. I hope you become your own little activist. Write a letter you can do it on line. Pick up the phone. Go to one of their fund raisers and raise hell. One click and you can email your representative or vote them out.
There are good things going on out there. We all have to keep on keepin' on. Rates are still low. There are great values in real estate. I have plenty of money to lend despite what the media wishes to report. Other sectors of our economy keep plugging. Prudence and nose to the grind stone is what we can do for our country and ourselves. If you see someone in need help them. Pay it forward. Eventually we will come out of this but we must keep our representatives feet on the fire.
I think this is the weirdest blog I have ever posted but it is how I feel about the state of all of this just now. I am disgusted. Maybe tomorrow I'll feel better.
As the hand wringing continues and the lenders inexplicably refuse to play with each other, the government (Barney Frank and friends) continue to blow hot air pretending they are protecting the consumer, while the ultimate self promoter (NY Attorney General) Cuomo continues to blather, while the Down Payment Assistance Programs are sunsetting because some genius thinks that has something to do with the credit crunch, there is something GREAT GOING ON!
Isn't this the market we've been waiting for? Low interest rates (they dipped again) Low home prices and it takes 3% to get into a home unless you qualify for the USDA program AT ZERO DOWN.
The Down Payment Assistance Programs are still around and the cutoffs vary from lender to lender (investor) but the bottom line is end of this month (SEPT.) in some form or another the "DPA's" will be gone. Until the idiots at HUD and congress (they are working on a bill to bring something back) realize that lenders qualify people on their ability to make the payment regardless of the down payment we will have one less tool to stabilize the market in your neighborhood and mine oh and the economy.
Despite the demise of the DPA's the FHA loan (the original sub prime loan) is truly the most flexible program available and offers great tools to help buyers get into a home.
Family can gift the down payment (and closing costs too). Sellers are motivated and will assist in paying closing costs if able to do so. Family can co-sign even if the "kids" are not quite there in their earning power yet but are on their way. It accomodates folks with little or no established credit histories and lower than 600 credit scores.
You can't be a train wreck but you can be banged up some and get a home loan IF IT MAKES SENSE!
By the way if I were king the answer to the credit crisis is simple. UNDERWRITE THE LOANS. Verify they work and their work is stable and problem solved. PLEASE save me the regulation CRAP. I subject my clients to one inch of paper and as they complain of writers cramp it is abundantly clear regulation does not prevent stupid or bad behavior so congress.....KNOCK IT OFF! STATES, KNOCK IT OFF!
Consumers, get off your tails and get busy. For those geniuses that want to wait next year. Go ahead and wait. Wait for everyone else to make the move first. Wait for rates to move back up and reduce your buying power. Wait for your state or congress to come up with yet another regulation creating (even though they think they are protecting you) another hurdle or the unintended additional cost TO YOU to buy a home. And last but not least wait for the prices go back up.
The smart set is telling you not to buy (the pundits) are themselves going around and picking up some sweet deals. My investment clients are having a ball! Wait until there are only a few reasonably priced homes out there and enjoy the bidding war.
Here in the pacific northwest it is just around the corner higher unemployment numbers and all, strikes and all it doesn't matter it will happen so are you going to watch or are you going to be a player?
The swimming hole is not far from your back yard!!
AND...you are NOT in a flood plain!
Welcome to Gold Bar Washington one of the most scenic places in the Pacific Northwest.
River Access from your own backyard to the Wallace River. Great for fishing, swimming or enjoying nature. It's like having your own waterfront home. Features include hardwoods, gas heat and gas fireplace in the family room, hardi-plank siding, garden space and room for RV parking. Beautiful mountain views. Located a short distance from Gold Bar for convenient shopping. 2-10 Home Buyers Warranty.
$299,950......THIS PROPERTY IS APPROVED BY THE USDA AND ELIGIBLE FOR 100% FINANCING.
ISN'T THIS THE MARKET YOU HAVE BEEN WAITING FOR????
LOW PRICE, LOW RATE AND NOT MUCH CASH REQUIRED!!!
OR
YOU WILL NOT FIND A BETTER PRICE, OR YOU WILL NOT HAVE A BETTER RATE WITH THE INCENTIVES THE BUILDER IS OFFERING.
FOR INFORMATION REGARDING THIS PROPERTY CONTACT DOUG WILLIAMS 425.418.9542 OR STEWART WOODS AT 425.343.5288.
Questions regarding the financing and the lower than market rate contact Kirk Williams 425.238.6905.
In this part of the world when we say "the eagle has landed" we mean it and all you have to do is look outside your kitchen window!
THE CLOCK IS TICKING. DON'T SHOP YOURSELF OUT OF THE MARKET. A GREAT BUY WITH GREAT TERMS.
The business as usual do nothing self-destructive sniping congress is on a five-week recess (I love recess!) and of course nothing was accomplished other than what is called "the housing bill" or "FHA modernization". If anyone really believes it will do the heavy lifting needed to stabilize the credit situation OR prevent wall street from pulling the same shenanigans in the secondary market or prevent bad behavior or just plain stupid will you please write me a check and make it out to Kirk Williams?
Meanwhile as this is going on an unlikely group is writing up a bill to right a wrong and this group happens to be in our congress and I must say I am flabbergasted but it is true they are going to try to save the down payment assistance program that was killed in the aforementioned bill signed by our president.
"The FHA Seller-Financed Down payment Reform and Risk-Based Pricing Authorization Act of 2008 (H.R. 6694)was introduced by several members of Congress on Thursday, July 31, 2008. Representatives Maxine Waters, Gary Miller, Al Green and Christopher Shays sponsored this bill that if passed and signed into law will allow down payment assistance to continue indefinitely."
It has been argued by folks I respect that investing a down payment would have prevented the calamity we face today. I have responded to such observations and will not address it again here only to say they are wrong. The million-dollar question should be asked what happened to the borrowers ability to make the payment? This is a full doc fully underwritten loan. And I would guess most people would like to keep the roof they live under over their head. Something went wrong but it had nothing to do with the down payment!
My point is be sure to contact your representatives where ever you are and tell them to support HR 6694. This simple tool is not the silver bullet but an important component and is part of a REAL solution.
After you get done emailing them about HR 6694 will you ask the same knucklehead representatives to get smart and put together a decent energy bill because my Cadillac is feeling neglected!
When the creators of exotic loans from wall street made a load of money turning the loan applicant with a 580 credit score profile into the "SIV" or sophisticated investment vehicle rated AAA then only to turn the "spicket" off creating the economic calamity we face today we now know what Chris Dodd (D) Senator from Connecticut and Chairman of the Senate Banking Committee that over sees mortgage lending activity was doing.
Before I let the cat out of the bag I wish to point out another man of the people that is righting the wrongs done by .... (Well he really doesn't know but pretends to understand) Barney Frank (D) of MA another man in charge of oversight.
And let us not forget the ultimate self-promoter himself the honorable Andrew Cuomo the AG of NY but I digress.
So while Barney was taken a nap for the past ten years and Cuomo was building his website what was Chris doing?
My point is simple. You don't rush into a fire to figure out how it started. You put it out first. Carefully look at all the factors then evaluate what OVERSIGHT could have done to manage this appropriately to avoid what we face today. In otherwords LOOK IN THE MIRROR DC.
If you think the likes of Chris Dodd or Barney Frank are the solution then........
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
For those of us in the industry for over 20 years instinctively knew Paulson's "plan" was a sell job more than a solution. If you thought the government had a "plan" after collateralizing the taxpayer for 700 plus billion I'm sure after this press conference it is now clear they did not.
been the free wheeling secondary market Fannie Mae & Freddie Mac & racketeer friends on wall street. You can't find them now because they are floating away with the help of their golden parachute. (the recent exception to this is Fannie/Freddie CEO's).
............Herferds DO swim with Dolphins!
;)
;)
