Robert's Beach Blog - Archives April, 2007

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Subprime Reality - 04/28/07 06:22 PM

Let’s face it, a lot of people screwed up. It’s become a tremendous mess and no one wants to take the blame. There are some who can’t avoid the blame. There are others who are looking for a plate full of pitty. And of course, there’s the Govt. Watch Dogs who … (13 comments)

Subprime, a Result of Predatory Lending - 04/24/07 04:43 PM

The ad said, “Easy Financing. Low FICO scores no problem. Stated Income only.” What a deal. It doesn’t take much imagination to picture the chain of events leading to the ultimate conclusion...Foreclosure, based on Predatory Lending. There has been a landslide of financing in a spectacular unprecedented market. Everyone was willing … (3 comments)

A 2nd Home in Wine Country? - 04/22/07 01:18 PM

Yes, that wine country...Burgundy. What a wonderful idea.A client in the process of investing in the neighborhood of 2 million euros ($2,724,202, the euro/dollar exchange being the only negative) for a 2nd home in Burgundy, made the observation, “I can remember a couple of years ago in Paris, it was common … (3 comments)

Foreclosure! A Dreaded Term - 04/20/07 10:14 AM

...‘All those years ago, that torture victim kept moving his lips, trying to articulate an explanation, muttering the same words over and over. "It was a mistake," he repeated, and in the next few days I pieced together his sad and foolish tale.’ (From article c.c. “The Torture Debate” by Ariel Dorfman, … (10 comments)

Hermosa Beach Living - 04/17/07 06:53 PM

Why do I feel so close to Hermosa Beach? After all, I come from the other end of the bay — Santa Monica. There was a time when they were considered as one, at opposite ends of the same bay; before zip codes designated subtie area differences. But living in Hermosa … (2 comments)

Negative Amortization Loan Disclosure. - 04/14/07 02:56 PM

Borderline consumers with low FICOs, No Doc Stated Income Loans etc, who are in need of a loan to make a mortgage loan work, are likely to be approached with a negative amortization loan. Why? It’s simple: the lender is about to make a huge profit from higher interest rates, … (5 comments)

A 2nd Home in Paradise? Why not? - 04/12/07 11:13 AM

I was born a few miles from the beach in Santa Monica, and much to the despair of my mother, I spent most of my time there, including evenings sleeping under the lifeguard tower. We hit the surf early in the a.m. So it’s no wonder that you might wonder what … (1 comments)

The Hermosa Beach Fire Dept—Since 1907 - 04/10/07 12:01 PM

What is more symbolic of a community and the courageous men who look after its citizens, than the fire department? The Hermosa Beach Fire Department comprised of volunteers, was incorporated in 1907. The small community grew, along with it its fire department which became better equipped and were referred to … (1 comments)

Prime Rates: The Way to Go - 04/08/07 11:25 AM

Until recently, subprimes were the answer for unqualified buyers to sign up for a home loan. As a result of this alleged panacea, one of the nation’s largerst providers of mortgages to high-risk borrowers, has filed for bankruptcy. There has been a surge of defaults in subprimes. More than two dozen … (0 comments)

A Unique Hermosa Beach Hotel and Beach Volleyball - 04/02/07 05:43 PM

I had an e-mail the other day from someone expressing an interest in purchasing a unit in The Beach House, in Hermosa Beach—a hotel with individually owned units available for rent, and managed by the hotel. There has been nothing avaiiable for sale here for over a year, which comes as … (0 comments)

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