Larry's Blog

Tougher in Alaska....People need water delivered b/c they can't get it in Fairbanks

2008-07-05T23:04:01Z

In the 1930s and 1940s water was delivered....DELIVERED.....in Alaska. I was watching the "Actuality Series, TOUGHER IN ALASKA, and found out that there are over 30,000 people living in and around Fairbanks, Alaska, who don't get water in Fairbanks. That means, nothing from the ground, nothing from the tap. Six feet under, even in the summer, the ground is frozen. So...in the more rural areas, these trucks that look like they deliver propane or natural gas are actually delivering water.....

What's so intriguing is that there's so much water in Alaska, but you have to order it to go, often times, in order to supply water to people, especially during their winters. Crazy stuff. Has anyone nationally seen this happen outside of Alaska?

6 Little Words....Tough to limit, but clear in heart.

2008-07-05T22:56:58Z

6 words???? Give me a break. I need 60 words. But this great challenge that I saw from Lola Audu made me jump to the parent of this idea, TLW at You Have Six Words...Give Me Your Life...ROAR! . Great post, but she had the gall to limit me to 6 friggin words.

After thinking of it for a bit....really easy. LOVED LIFE, KICKED BUTT, LIVED PASSIONATELY! I am so glad that death isn't knowingly knocking at on my door. It's not on my agenda either. However, when it comes time to meet my homey upstairs, I hope that people will feel this way...It's certainly the way that I feel. Though I must credit my friends at Young Life for this picture (see www.nwsub.younglife.org), I feel that without LIVING WITH PASSION and a LUST FOR LIFE, well....let's just say that I should just about pack it in prior to living my life. Nope....nothing outrageous here, but definitely sincere. I've always loved "go hard or go home", but that's only 5 words.

300th post

2008-07-05T22:11:25Z

Too cool....1.5 years on AR and now I've hit my 300th post. Wish I had something profound to say, but after 300 posts, I'm really lax on any cogent and tangible new thoughts. I could say that I have some great friends and that my life is so great b/c of AR. Or I could say that I've gotten a lot of deals since joining AR (over 10). But I'm not going to praise AR or any of the friends that have been created on AR. Nope...not once.....just the fact that I've now posted my 300th post. Now off to my next 300!

What would you do with $10,000,000?... I know someone who has that problem.

2008-07-03T10:17:44Z

I have a friend of mine that I know will probably receive over $10,000,000 personally before the end of July. I was speaking to him tonight and got to thinking a few things. This guy has worked hard. VERY HARD for years. He's now just hitting it big on a project that he'd been working on in a business that I know so very little about. So I got to thinking....

1) I wonder what he's going to do when he receives this money. I'm just curious. First, he has grandkids, so he should probably retire is my guess. He won't need to work again, but he's not going to retire....he'll slow down, but he won't retire.

WHAT WOULD I DO IF I HAD THAT MONEY???? I definitely wouldn't retire. I'm not the retiring type. First, I'd definitely tithe. I'd give God his portion and think about the lives of those people whom I could change with some of that money. Secondly, I'd make sure that money was there so that my children can work hard and learn a hard worth ethic, but have money to fall back on so that they're not a slave to it either. They need to be humble and remember that God really gave them the money.

I've been in my business for over 14 years and love my business, but I would consider leaving my industry, but to do what? Nothing else really excites me. I would just need to change lives of those to the best of my ability.

Selfishly, I would probably get a couple of new cars....I never buy new, but I would this time, but nothing fancy at all. I would definitely want to fly under the radar. Let's say it was $1 Billion dollars....I wouldn't be buying the Cubs or the Mavericks because I would just fly under the radar. I love being a meathead sometimes and living the high life wouldn't allow me to be the meathead that I was made to be.

I may take some time off just to figure out just what I want to do as well as allowing me to recharge the batteries, but most importantly spending time with my wife and 5 children.

My dad is a very successful doctor. He just went down to part time at the age of 71. His comments are,
"I'm not retiring until I figure out what God wants me to do with the rest of my life." He continues..."I'm not going to be one of those old guys who sits around and waits to die." What an awesome mentor I have.

I know I wouldn't retire. My friend sure does have a lot of thinking to do, but what would you do? I know a lot of what I wouldn't do...how bout you?

The history of the 4th of July!!! Some Facts that you don't know.

2008-07-02T22:49:42Z

This is one of my two favorite Holidays. My first is Thanksgiving. I love the fact that both Holidays are just get togethers where people are here to just celebrate. Nothing more...just celebrate. Thanksgiving is great b/c we sit around have a few drinks, overeat, play football in the backyard, watch football on TV and hang with family. That's it....too cool.

Christmas used to be mine. My parents made it so special, but as the commercialism came to the forefront....I still love it within the confines of my family, but not for celebrating with the general masses. For the 4th of July and Thanksgiving the day starts with going off to church to tell God how grateful you are for all that he's done. For giving us a free country and for just being a great God.

I was looking for the History of the 4th of July. I found www.holidays.net/independence/story.htm

At the time of the signing the US consisted of 13 colonies under the rule of England's King George III. There was growing unrest in the colonies concerning the taxes that had to be paid to England. This was commonly referred to as "Taxation without Representation" as the colonists did not have any representation in the English Parliament and had no say in what went on. As the unrest grew in the colonies, King George sent extra troops to help control any rebellion. In 1774 the 13 colonies sent delegates to Philadelphia Pennsylvania to form the First Continental Congress. The delegates were unhappy with England, but were not yet ready to declare war. In April 1775 as the King's troops advanced on Concord Massachusetts Paul Revere would sound the alarm that "The British are coming, the British are coming" as he rode his horse through the late night streets.

The battle of Concord and its "shot heard round the world that would mark the unofficial beginning of the colonies war for Independence. The following May the colonies again sent delegates to the Second Continental Congress. For almost a year the congress tried to work out its differences with England, again without formally declaring war.

By June 1776 their efforts had become hopeless and a committee was formed to compose a formal declaration of independence. Headed by Thomas Jefferson, the committee included John Adams, Benjamin Franklin, Robert R. Livingston and Roger Sherman. Thomas Jefferson was chosen to write the first draft which was presented to the congress on June 28. After various changes a vote was taken late in the afternoon of July 4th. Of the 13 colonies, 9 voted in favor of the Declaration, 2 - Pennsylvania and South Carolina voted No, Delaware undecided and New York abstained.

To make it official John Hancock, President of the Continental Congress, signed the Declaration of Independence. It is said that John Hancock signed his name "with a great flourish" so "King George can read that without spectacles!." This cracks me up. Even Hancock had a sense of humor knowing full well that war was probably imminent, you know?

The following day copies of the Declaration were distributed. The first newspaper to print the Declaration was the Pennsylvania Evening Post on July 6, 1776. On July 8th the Declaration had its first public reading in Philadelphia's Independence Square. Twice that day the Declaration was read to cheering crowds and pealing church bells. Even the bell in Independence Hall was rung. The "Province Bell" would later be renamed Liberty Bell after its inscription -

Proclaim Liberty Throughout All the Land Unto All the Inhabitants Thereof

And although the signing of the Declaration was not completed until August, the 4th of July has been accepted as the official anniversary of United States independence. The first Independence Day celebration took place the following year - July 4 1777. By the early 1800s the traditions of parades, picnics, and fireworks were established as the way to celebrate America's birthday. And although fireworks have been banned in most places because of their danger, most towns and cities usually have big firework displays for all to see and enjoy.

Too cool...I can't wait! Have an awesome 4th.

4th of July....I'm already there!!!!!!

2008-07-02T11:42:54Z

Baseball, fireworks and Fourth of July. That's the american way! I am stoked. 4th of July and cooking out and the fireworks. We usually go to Wisconsin to celebrate up in Door County. This year, with 4.00+ per gallon of gas...we're going to make it a local thing....and, in my mind, I have a lot to do today so that I can "check out" without guilt of other things to do. Thanks to Missouri Horse Properties for the all american child below. http://www.horsepropertiesmo.com/_borders/Boy%20waving%20flag.jpg

I can't wait to light of the fireworks either. Although mine won't be like those of Grucci Fireworks, I must say that the pyromaniasm in me, is like a kid in a candy store. I'll be out there with a cigar lighting off a few with all the others around our neighborhood, but it's the comraderie that I like most. Now I need to get back to work so that I can take 1/2 days the rest of the week.

http://www.grucci.com/

May God bless us, our families and our nation during this celebration of our independence.

Thank you Kane County! Kane County Chronicle Announces Cherry Creek Reader's Favorite Mortgage Company!

2008-06-25T22:34:37Z

The Kane County Chronicle has a reader's poll every year. There are a myriad of categories in which the reader's vote for the best this and the best that. The best hot dog stand, the best bar, the best bank, the best lawyer. You get the idea.

Welllllllllllllllllllll and anywhooooooooooooooooo....with much humility and tons of gratitude, we were notified by the KANE COUNTY CHRONICLE that our humble company was identified by our fans as A PREMIERE MORTGAGE BANKER in Kane County. Now had I even know that this existed, I may have told our clients to vote for us, but, I have to be honest with you, I had no clue. Therefore, there was no ballott stuffing at all. Now that the voting is done, I can admit that having no knowlege of the event, meant that I didn't have the ability to sway the popular votes. Oh well, I now know for next year.

Cherry Creek Wins! We win! We win! We win! We won against Countrywide (that's not saying much after all that they've been through), Wells and some other premium top rated power companies. For us to win against those big dogs, well...let's just that, that it's AWESOME. I'm ecstatic about this because it's not just through our city or through the Fox Valley, but through all of Kane County. We have such a great staff and such great comraderie where we all get along so well. Our referrals all come through our clients and our referral partners. We're blessed. Thank you to our fans! Thank you to the Kane County Chronicle for having this poll where the reader's have the voice to vote!

For a good time with a great mortgage call our office at 630-762-9600.

I FORGOT TO SAY.....FOR A GREAT MORTGAGE WITH A COMPANY WITH INTEGRITY, CALL CHERRY CREEK MORTGAGE AT 630-762-9600!!!!

Countrywide is at it again in Illinois - State of Illinois Files Suit against CW!

2008-06-25T21:31:36Z

"Countrywide's unfair lending practices have harmed tens of thousands of borrowers who've been placed in unaffordable loans and, as a result, our communities are now being destabilized by a skyrocketing number of home foreclosures," Lisa Madigan said in a statement Wednesday. Her office said that the company played a "major role" in the foreclosure crisis, all in an attempt to dominate the U.S. mortgage market. "Countrywide repeatedly qualified borrowers for mortgage loans based on salaries that were significantly higher than what they really made," Madigan added. "As a result, Countrywide put borrowers into loans that they could never afford, leading to high failure rates." Among other things, the suit asks the court to rescind or reform all Countrywide loans originated "with the use of unfair and deceptive practices." "This includes providing financial relief to borrowers who lost their homes to foreclosure, refinanced, sold or have loans currently being serviced by Countrywide, even if that requires Countrywide to repurchase loans from current investor owners," according to Madigan's office. A spokesman for Countrywide couldn't immediately be reached Wednesday afternoon.

Mozillo is being sued personally as well. This will be interesting. I'm told today that there are 67 loan officers at CW who are being investigated in Illinois for putting people in these loans that the don't qualify for, specifically using MTAs, COFIs as well as other loans. I'm not sure about the veracity of this statement. There's a lot on the net about the mess CW is in, but a local recruiter for CW is now telling my loan officers that they're no longer a part of CW, but rather B of A now that the shareholders have approved the sale. I'm sorry, but just because you put a different mask on an ugly kid, it's still an ugly kid.

We've signed three local CW LOs in the last 2 months and are talking with others that are just marking their time until they leave. It'll be interesting to see how this all shakes out, but it seems that the name change alone won't changes reputation in Illinois. Only time will tell.

Mortgage Fraud - Finally a message is being sent!!!!

2008-06-19T22:10:50Z

Every year we have more regulations, more tests, more certifications. While I do think that certifications are good, the real issue is the fact that the crooks keep getting away with it. I have always hated that. I really do.

According to today's Chicago Tribune.....TODAY, the Feds came in and busted more than 67 people in Chicago. The Department of Justice, DOJ, arrested these people for mortgage fraud in a sting called Operation Malicious Mortgage. They busted mortgage brokers, loan officers, realtors, homebuilders and lawyers......Get this (I can say this b/c I'm a lawyer)...the lawyers now have to hire lawyers to defend themselvses against what they've been charged with.

Much of the mortgage chaos has been a direct result of this sort of fraud. Mind you, mortgage companies were stupid in the fact that they couldn't find a reason to deny a loan for a long period of time, but that's a whole another issue. Borrower's lied and committed fraud to get a home that they knew they couldn't afford, but that's anoterhy whole issue. But the fraud committed by knowingly deception....that's what this sting was all about.

As a result, it's MY HOPE that the remaining bad guys get scared straight or they get out of the business. Kudos for D.O.J. doing the right thing here. The ring fraudulently obtained loans on some 183 homes in Illinois, Nevada and California, authorities said. Lenders lost more than $24 million, officials said.

Authorities targeted three growing scams: lending fraud involving false loan applications and bogus real estate appraisals; foreclosure rescue scams where financially strapped homeowners lose ownership of their properties to criminals; and mortgage-related bankruptcy fraud

Let's hope that the Feds conitinue to press forward and help bring credibility back to our business. We're in an honorable profession. People like this give a bad name to all of us who operate with integrity.

Summer Vacations - Long Time Coming

2008-06-18T21:51:47Z

I was raised in a family where doing things and creating memories were more important that having things. I was the oldest of 5 kids, and my dad was a successful doctor. However, he knew that it was more important to bond wtih the family and create experiences and memories instead of being a dad who just bought things for his kids. My dad worked a lot. He'd sometimes sleep at the hospital while covering for his partner when she went to the Phillipines for 6 weeks to visit her family.

When he was off, he was off. He'd take my brothers and I to Canada or the Arctic Cirlce every year fishing for 10 days. He'd take the entire family to Colorado for 3 weeks to hike and climb. He'd take us back to Colorado over Christmas to go skiing. Then, intermittantly he'd take us to Iowa to our relative's house for a lot of good quick getaways.

The memories created here were awesome. We've passed on the same traditions and values to our kids. What's so wierd is that we have 5 kids, but are currently in the process of building a new home. Money has been tight as you tend to spend on a 6 to 1 ratio expenditures in relation to income. So, as a result, we haven't gone on a lot of vacations in the last year. I think it's important that the kids see that they're not getting all that they're friends are getting and that we, as parents, are being fiscally responsible so that they're aware of how to make tough decisions like my parents taught us.

But now, I have a few commercial closings that will be paying out very soon. My wife and I are ecstatic. It takes away all of the house payment worries as well as allows us to spend some real quality one on one time with our kids.

FIRST STOP....ROCKY MOUNTAIN NATIONAL PARK

To bring 5 kids out there would be so much fun. We go every year, but miissed it this past year. My wife said that she'd even be up for climbing Long's Peak (boy has she come a long way). I find that when you're walking in God's country, then you have a propensity to get closer to your kids, and get closer to Christ. As a parent, I think a tough, loving faterh who will be hard on them, but then get beside them to let them experience the awesomeness of God in nature....I mean...what else could a dad want? Too cool.

As a result of this home, my wife and I haven't gone on any one on one vacations either. Not only are finances a consideration, but getting someone on the payroll to watch 5 kids....welllllllll.....let's just say getting a great quality person, who is affordable, who my kids won't tie up and torture, who will do fun things with them, and still tow a hard line.....THAT'S TOUGH TOO! We'll work it out, but I'm thinking of one or two places for us.

First, just local Chicago. I know it's only 35 miles away, but with five kids, it might as well be 3 countries away. Our big splurge is going to the 4 Seasons Hotel...which is ranked in the top 20 and top 10 worldwide according to national hotel rankings. I went to Grad School down there, but for me....just hanging wtih the wife, eating good food, working out and getting to be a little bit of a moron without worrying about the outside world for a few days.....that's awesome. You're just not as in touch with the big man upstairs since there's so much hustle and bustle and no areas of solitude you know?

My last choice for my wife and I would be a weekend up to Maine. Been there 2 years ago for her best friend's wedding, but would like to go out and explore some more. Love to do some sailing, some lobstering, exploring and just true relaxation.

Well..those are my choices....What are you up to this summer? Where would you recommend for a well-traveled family who hasn't been anywhere but their backyard for over a year?

Guest Blogging

2008-06-17T23:20:22Z

OK....a short and simple blog here. I have gotten more recognition than ever in the most recent months b/c of AR. I have met some cool people. I've been interviewed on radio shows, interviewed by news stations and now have been invited to guest blog from another well respected AR member. I'm touched and excited. 'This is beyond anything that I have ever fathomed. Having gushed over AR for the last few sentences I have a couple of Qs.

1) Have your ever guest blogged?

2) Do you re-write a post you've already done or do you go with something, say, more unique. I have a couple of great posts here, but maybe I should be more original.

The "bloggee", if you will, is well respected within the AR community and has given me some guidelines. I've written a few things this evening, but SURE WOULD LIKE to hear a few pointers. From a guest blog rookie....THANKS.

I'm auditioning for the Presidency!!!

2008-06-16T22:44:36Z

OK...I have to admit it....I'm thinking of a career change. If you're so inclined, I may just join the political foray to mix it up a bit. I think that I can challenge McCain and Obama. I know that each of them have a lot more money than my Campaign, but I feel confident. Really, it's the "grass roots" movment that keeps any election moving forwad. Although my campaign is lean on money, the grassroots support is overwhelming, but I need your support. Remember, BETTAG FOR PRESIDENT.

Susan Saradon .... please leave the United States no matter who wins this election

2008-06-13T13:41:26Z

Susan Sarandon has said that she'll move to Canada if McCain wins the election. First, I'm not really pleased with any of our candidate choices this year. I think that we could have a better Republican candidate, but we have him. Definitely not for a man that makes Hillary look like Rush Limbaugh running for the Democrats either.

Suzi...says that if McCain wins she's going to move to Italy or Canada. There's an element of me that just wants her to go irrespectively of who wins the election. She's a disgrace to the United States of America. Didn't Rosie O'Donnell say the same thing if Bush won? Unfortunately, the country is worse off in a myriad of ways after the Bush victory, but my largest disheartening feeling was in the fact that Rosie never moved, joined that am talk show and continues to berate the heart of America.

So Susan, do us a favor, pack your bags now. Obama will probably win, but you are such a "conditional" citizen of the United States of America, that I'd like to see you move no matter who wins. Tell us what the cost to move will be and I'm sure many citizens in the United States will contribute one dollar apiece to give you a first class move to a second class country.

529 Accounts - - - Want more business now? Today's Marketing Tip

2008-06-13T10:10:19Z

I'm sitting in a continuing legal education seminar right now. Although CLEs can be quite boring, I'm thinking to myself that this guy has a point here. A great point. It's a reason to contact your database right now and generate more business. It all comes down to a 529 plan.

The 529 plan is an awesome plan that allows the donor to pay for the beneficiary's account money for college education. It can be fully funded by the donor. There are a number of interesting points about 529s.

1) This is treated as a gift, but unlike true legal gifts, the donor does retain control of the funds. Therefore, if you were to put $50,000 into an account for your son, but your son decides to not go to college, you can move that $50,000 to another descendant with no tax consequences or the donor can regain control of the monies and take the monies back to use for whatever purposes the donor wants, effectively closing the account subject only to the gains earned in the account.

2) If the monies are used by the beneficiaries for college then ALL OF THE GAINS can be used free of tax. So, for instance, if you put $50,000 in an 529 progam, and in the 15 years until junior goes to college the account grows to $120,000, that $70,000 gain is not a taxable event. THAT'S HUGE!!!! To top it off, any unused portion can be taken back by the donor or moved to another child.

3) The owner of the 529 program can be you, a trust, a conservator, a guardian, a executor, a corporation, a partnership. So there's a lot of flexibility to owning and controlling the 529 program.

4) You can contribute up to $120,000 per child fully funding each beneficiary's account.

There are so many nuances to this program. This is a hybrid program that in reality violates so many principles of the United States Tax Code, but it is made for the purpose for allowing donors to invest in relatives by way of a gift while allowing the "donor" to retain true control.

Now...knowing that there is so much more that hasn't been brought up here, if you think about a reason to refinance, this would be the one. Say that you have a home worth $300,000. You have a mortgage of $200,000. You take cash out of say $50,000 and raise your loan up to $250,000. What's happened here? We'll you've helped your client in a myriad of ways.

First, let's say that the current mortgage of $200,000 is at 5.75% with a P&I of $1167 per month. Now, lets say that you cash out up to 6.5% to a loan amount of $250,000 with P&I of $1580 per month, an increase of $413 per month. If you were to set aside the $50,000 with payments of $413 per month, it would take you over 10 years to set that money aside. Further, the money that you set aside and put in the 529 can grow from day #1 through the appropriate investment vehicle. What if you put $50,000 aside today and in 15 years, that has grown to $120,000. The donor can take the original amount paid into the 529 program back ($50,000) and still leave $70,000 for the befenficiary's education.

Cool stuff here huh? It's something to consider. Talk to your financial planner and your loan officer today. Loan officers and realtors think about the value that you're adding to your clients by suggesting this to them. Talk about valued added service to your clients. Realtors, you can tell the client who just bought a home with you last month to consider this. They may not be selling this home ever, for 10 years or 5 years, but you're still adding value to your clients. If nothing else you'll find a few sales opportunities by going through and contacting your entire database of closed transactions and offering them this value added service.

Campton Hills...the house of cards begins to crumble

2008-06-12T23:18:18Z

Well just as I've been saying all along. All those promises of NO MORE TAXES helped our Village of Campton Hills officials get elected and a new town created.....Gross.

The Kane County Chronicle reported yesterday that "Campton Hills wants to create a special tax district to pay for drainage improvements in the Evening Prairie and Verhaeghe subdivisions and about 87 adjacent acres. About 40 homeowners are affected. County officials say the area's aging drain tiles are on the verge of collapse and the work is necessary." A courageous land owner, Mr. Paul Fritz, evidently is considering fighting this tax.

Of course, the NO TAX COALITION of leaders has their own attorney who states the same...."Village attorney William Braithwaite said if a petition rejects the special service area, the village will have to create a different, more expensive type of tax district to pay for the work."

The irritant in all seriousness is enormous. First, these people created a village by stating that there would be no more taxes. We've barely been in existance and we find the leaders already violating their promises. Either they lied to us up front or they were so stupid and actually believed that they could create a new government entity without having more resources to support this "entity. Two things eminate from this. Do we want leaders that are either liars or dumb? Secondly do we want to keep this village when the taxes are beginning to come? I think not.

Next, there are a myriad of subdivisions that want out. I'm told this government wouldn't fight those who wanted out. Now that 5 subdivisions won their court case, the village is spending EVEN MORE $$$ IN ATTORNEY FEES fighting those who legally have asked to leave. For the remaining people like me and the majority of Campton, do you want to stay in and pay more taxes so that this government can fight to keep people who want to leave from leaving when we ourselves don't want to be a part of this village? Gimme a break.

The Village seems more interested in raising taxes, fighting the people it's purported to represent and spending attorney's fees. Whatever happened to servant leadership? If they want to lead shouldn't they serve? If the citizens want out, shouldn't they let them? I really don't get it.....

Believe me there will be more to come. Watch who and what you vote for this next election. Stay tuned. More to come. Pass this on and tell your neighbors. I know many who voted for this village (even some who fought for this village) that now believe it is/was a huge mistake. The truth is being exposed. Send this to your neighbors and encourage them to keep the fight going. The day of reckoning is soon for this village.

Raining Cash on AR!!!!

2008-06-10T11:10:18Z

Wow...2 deals in 2 weeks? This is insane. First housing starts are up 6.3% this month, then I come into the office and I get a message that went something like this...

HI, THIS IS JOE BLOW, AND I WANT TO TALK TO YOU ABOUT GETTING A LOAN, CALL ME AT _____. I call they guy and he said "I SAW YOUR BLOG AND DECIDED THAT I NEED TO TO BUSINESS WITH YOU. I'M FAXING MY CONTRACT AND FINANCING DOCUMENTS OVER TO YOU NOW....."

This is probably the tenth transaction that has come off of this site. The guy knew so much about me that he made a determination that he wanted to do business with me because of my profile. My profile is me, my family, my beliefs, my company, etc. What's so great is that just by me being me, I am allowed to put myself out there as I am. Some like it, er me, and some don't. But AR does generate business.

This is about my 10th transaction since joining AR about a year ago....

1) I love to write;

2) I love competition;

3) I love points;

4) I love posting;

5) I love my position

6) I love the fact that I've gotten to know some great peeps whom I'm now chummy with, but mostly, I'm just excited that I get to do what I like on AR and in doing what I like, I happen to derive deals as a bi-product. Cool stuff isn't it????

I'm to the point now that I fully expect deals off of AR. That's not why I post (sure the exposure is awesome), but buyers wwant to know that you're serious about the business and continuous participation in AR assures buyers that you are someone who follows through. When you market on AR, be consistent, don't sell and make sure that you serve out of pure motives.

Have at....what are the most amount of transactions that anyone has derived off of AR???

Reviewing Yesterday's Bernanke's Comments

2008-06-10T10:00:33Z

BOTTOM LINE: Speaking last night, Bernanke noted that the economy is still fragile with downside risks to inflation and upside ones to growth. He notes risks to the upside on inflation from the continued increases in the price of oil. Greatest concern, and strongest language, devoted to the possibility of inflation expectations becoming unanchored. Passthrough into other prices has remained limited. On the other side of the balance, he notes that Fed action has reduced risks of a "substantial downturn" though downside growth risks certainly remain.

KEY POINTS:

1. At a Boston Fed conference on inflation -- more specifically the Phillips Curve -- this evening Chairman Bernanke spoke on the current situation. Most of his speech, however, was devoted to more academic longer term issues.

2. The recent increases in oil prices are clearly continuing to cause worries as Bernanke calls the increases "sharp." Though these have not yet passed through into broader prices, or domestic labor costs, concerns clearly remain that they might.

3. In somewhat stronger language than usual he promises that the "FOMC will strongly resist an erosion of longer-term inflation expectations." Indeed, this seems to be the most pressing concern about the latest round of commodity price increases -- that they will unmoor inflation expectations. The concerns about this are not purely limited to inflation, as he notes the potential for long-run negative impacts on growth of a drift upward in these expectations.

4. Despite the large rise in the unemployment rate, taken together recent data have done little to change his view on the economic outlook. There are downside risks to growth from the housing sector and the spillover into broader financial conditions. However, he views the risks of a more serious downturn as having been mitigated by the actions that the Fed has taken, both the traditional and non-traditional ones. He expects improvement over the remainder of this year driven by the fiscal stimulus, further credit market improvement, a fading of the housing drag and strong foreign demand.

5. The more academic portion of the speech featured four areas where he would like to see further research: (1) the link between commodity prices and oil, (2) how labor costs interact with inflation, (3) the use of real-time information by policy makers and (4) inflation expectations.

Bernanke's Commentary - - Today is just like 1975

2008-06-04T21:30:06Z

Bernanke spoke......his BOTTOM LINE: In a speech focusing on two key areas -- energy and productivity -he contrasts today with 1975, the year he graduated from Harvard. For the most part, with appropriate caveats, his view on today looks more constructive. News wire headlines focusing on the fact that inflation is "significantly higher" than the Fed wants are accurate but not fully reflective of the tone of the speech, which does not comment in any specific way on near-term policy direction or risks.

MAIN POINTS:

1. In a Class Day speech at Harvard, Bernanke compares the economic challenges facing the economy today versus 1975, picking energy and productivity as special points of focus.

2. The dimensions of energy price movements in 1973-74 and 2003-today are comparable: a four-fold increase (though more stretched out this time). After painting a dismal picture of life back then, including gas lines and rampant inflation, he sketches several key differences: (a) no price regulation of petroleum products now, (b) a smaller increase in overall inflation, (c) better anchored inflation expectations (stressing that recent changes are measured in tenths of a point instead of percentage points), (d) reduced energy intensity of the US economy, thanks to changes in personal and business behavior, (e) the absence of a wage-price spiral, and -- of course -- (f) the commitment of monetary policy to maintain low and stable inflation, starting with the Volcker Fed in 1979.

3. By implication, careful management of policy is important in the current environment, as higher energy prices supply the "incentive for action" for consumers and businesses again to modify behavior (news wires suggested, by omission, that this incentive was for action by the central bank). Government policy can also help by promoting both research for alternative energy sources and "well designed regulatory policies to promote important social objectives such as protecting the environment."

4. Because monetary policy makers could not detect the slowing in productivity growth that began in 1973, they ran an overly accommodative monetary policy that exacerbated inflation pressure. Today, productivity is on a stronger track, thanks to deregulation of many industries beginning in the 1970s and the greater economic stability that he sees as a byproduct of disciplined monetary policy.

5. The speech concludes with a concern about increasing income inequality and the importance of education in reversing that trend.

What's the nice piece????? They're will be an out when all of this settles down. My business is busy. FHA is stronger than ever. Profits are up with streamlined offices. It's all good. Needless to say, there is a hopeful plan to get our economy humming again. I just hope that all who borrow curb the borrowing and all of the lenders lend more responibly. Wait and see.

Walking by Faith in the Rain

2008-06-01T22:14:35Z

Hugh invited me yesterday to joing this group. I love a place for Christian fellowship. However, I'm writing because my wife and I have ourselves been tested for over two years as to be walking by faith. Kinda funny b/c my wife and I had a long conversation this evening obout our who we are, what we're doing and our plan for life. Much of the conversation was about God leading you down a certain path. Often times the greater the struggle the greater the victory. That's why it's said you walk by faith and not by sight. Often times the sight seems so dark, heavy and so hard to carry. Andy Andrews said that he almost got to the point that he prayed for trials and struggles, because something great would invariably come after a great struggle or trial. Isn't it amazing that after my wife and I have a heart to heart about how we're really called to act by faith, I get the invite from Hugh to join "walking by faith in the Rain." God works in strange and mysterious ways doesn't he?

Communism has come to Campton...

2008-05-29T21:24:24Z

Last week, I went to the Board Meeting for the Village of Campton Hills (VofCH). The VofCH declared the dissolution petition containing 2100 signatures -determined to be valid by the Kane County Electoral Board this past December - to be VOID. Patsy Smith briefly feigned concern about providing some sort of explanation to the audience as to how this decision was reached. Attorney Braithwaite, in a side comment to President Smith, indicated that no explanation was necessary.The Board, none of whom dared to make eye contact with the mostly anti-Village audience, unanimously approved the decision. So much for open government and self determination!

Campton Hills officials took steps Tuesday to prevent the village clerk from certifying the petition Unfortunately, for the taxpayers of VofCH, the action, approved unanimously, came in the form of a resolution authorizing village attorneys to take "any and all appropriate legal steps" should Village Clerk Carolyn Higgins disobey their advice and certify the petition for referendum. So they're saying that even though the Kane County Electoral Board said that the petition is legit....VofCH says not! Give me a break.

Village attorney Bill Braithwaite said Higgins attempted unsuccessfully to finalize the question recently for inclusion on the November ballot, despite being advised against it. Higgins, who just took office this month, has since refused to commit to following the legal advice, which could be detrimental to the village, Braithwaite said. "If she does (certify the petition), we may have to take action before the next board meeting," he said, declining to elaborate on the action. "It's not appropriate." It's not appropriate for her to do what the taxpayers want and what the Kane County Electoral Board has certified? OK....I get it...NOT!

Glad to see that we live in such a free state, where the will of the people can be expressed and honored. Can't wait to see what else they have up there sleeve.

Fannie Mae's introduces Streamline Refinances for Loans Greater than 100% LTV

2008-05-28T15:06:42Z

Fannie Mae recently introduced a refinance program - called Keys to Recovery^TM - that will enable borrowers struggling to keep their homes, help more prospective buyers purchase homes, and contribute to stabilizing communities hit hard by the downturn in the mortgage market.

Fannie is modifying the eligibility guidelines of our current manually underwritten Fannie Mae-to-Fannie Mae streamlined refinance option (for loans up to 100% LTV) to allow refinancing of loans with LTVs greater than 100%. This will help borrowers who are "underwater" to refinance into affordable fully amortizing Fannie Mae loans. THIS IS HUGE!!!!! This option has more restrictive guidelines to compensate for higher LTVs.

Eligibility Expansion Highlights

1) Generally, those eligible for Streamlined Refi Option A; also Expanded Approval^® (EA) loans with additional restrictions, including minimum credit score

2) 12-month seasoning requirement with good pay history (one 30-day late allowed, none in most recent 3 months) - - - Last 3 months is critical.

3) Property: Owner-occupied principal residence, one-unit only (including condos, co-ops, and PUDs; manufactured housing is not eligible)

FOR NEW LOANS - - -

· Fully amortizing Fixed Rate Mortgages, plus certain fixed-period ARMs (no interest-only or short-term ARMs)

· Up to 120% LTV/CLTV/HCLTV if refinanced loan meets minimum MI coverage requirements (per Fannie Mae's charter)

· No cash-out refinance, with up to 2% increase in UPB allowed for closing costs

· If payment does not increase, stated income is allowed Wow....this is something isn't it? Stated income backed by Fannie?

· If payment does increase:

o Maximum increase is up to 120% of current payment

o Maximum 50% DTI ratio based on current verified income and debts

· New, full appraisal required

· New credit report required

Availability and Lender Requirements

· This is not a Guide product and will be available on a contractual (variance) basis.

· Whole loan execution will be available August 1, 2008; the availability date for an MBS execution is still to be determined.

The loan is not available and here just yet. the lender needs to be a servicer of the Fannie loan although correspondent lenders may have this option as well. In the interim, talk to your lender to find out more. Stay tuned...more to come

AR creates PROFITABLE relationships too!!!!

2008-05-20T08:19:22Z

In my first year on AR it's bee a blast. I have created many relationships. I have people with whom I grown quite fond of. My favorites being in no particular order:

Ginger's Marin County Real Estate Blog

She's a Junior Leaguer that's a Major Leaguer in my books. I communicate with her so little lately, but we're both swamped.

Mortgage Knowledge at its BEST!!!! (Jeff Belonger)

A Mr. Know it all, who probably does know it all. I knew it all until I met him. I still know most of it, but he knows MAYBE about 1 ounce more than me, but it's still a lot!

Central Florida Real Estate Happenings - Alex Harb

A man with that seeks to inspire others to Christ. That's something a man like me needs.

Bellingham Real Estate Blog ~ Author: Ryan Martin

Ryan is the fun guy that is living in the wrong area. He needs to be hanging with me, having a brew out here in the midwest. Packers still rule over the Seahawks any day!

There are a myriad of others, but this is still a sampling. I communicate with some daily and other weekly. Others I just correspond with as the time allows. I've learned a lot, but love where I'm headed with my peeps.

But all this toil has paid off in other areas as well. I love my relationships as well as the direction I'm heading with this AR thing.

But in my local community, I'm now being viewed as the local expert. I have received a number of clients and closed a number of transactions over this past year. Also, a broker of a larger real estate office has approached me as being the preferred lender for her office since she agrees with a lot of what I've had to say. I"m sure that I've driven others away with my pointed comments regarding the local politics, but I'm excited to note that AR pays. AND IT PAYS HANDSOMELY. I've received a new exclusive relationship just through this relationship that will allow me a lot of great business and referrals.

I can honestly say that over this past year, I have or will have earned over $20,000 in income just through blogging as to what's on my mind or what's on my heart. I think that I'll have earned well over $50,000 of income just this year b/c of the relationships created on AR. Blogging on AR does pay. Sometimes it takes a little time to build your profile and blog up, but once you're there, then you're there. That's all you can do. A few pointers.

1) Be diligent. I've seen so many people quit after working "so hard" to get to 10,000 points. I'm in it for the long haul. Remember, Rome wasn't built overnight and your "column" won't get featured overnight either;

2) Respond to people who comment on your blog. You ingratiate yourself with others. Conversely, a failure to respond to others who take the time to post on your blog is downright rude and forces others to discard you as a second class AR'er;

3) Create knowledge for those who want to learn. Pretty self-explanatory, but so many peoploe just throw up a listing and think they've done their AR duty....pretty gross huh?;

4) Write with your heart - not in some sort of peace, love and granola, let's go hug a tree way, but in the way that the reader know's that you're passionate about whatever you're writing about.

Stay true....stay focused and stay committed. Serve those who need the experience that only you have to offer. Enjoy AR and enjoy the relationships as the income will soon follow.

My Theme Song

2008-05-17T23:28:31Z

OK Katz....here it goes. Here's the gig. Here's 4 songs. First is definitely me to a T, but the other 3 well....they're all me too. First and last are more "real", if you will, but songs 2 and 3 hit the nail on my head as well. Confused? So am I....I try to live under the first and last tunes here, but get messed up all the time. I love the GEAR DADDIES. They're one of my favorites.

OK....the first is up I love this tune. My all time favorite. Not the Rocky Theme Song, but "Going the Distance" by Bill Conti in the Rocky album. This is my M O ..... This was when Rocky was in the ring. Not all this training crap, but in the heat of the battle. I frankly, think that there is no better tune to get you pumped up. THIS IS MY THEME SONG...er TUNE! THERE IS NO OTHER TUNE OUT THERE THAT PUMPS YOU UP LIKE THIS!!!!!! BAR NONE!!!!! I get JACKED on this. CRANK THIS MUTHA UP!

In my life I've had a myriad of these moments. First let's say that I've seen the Gear Daddies a number of times in person. I wish that they had a video instead of just some dumb plays of the bears beating the colts in a football game, but this is almost just as appropriate after you hear the words. Every guy's weekend that I go one, this song comes out and you have a number of guys who can't sing a lick, singing to the hills once this one plays.

Since I have a propensity to do things that I view as incredibly stupid, and for the fact that I do like to embibe, AND FOR THE FACT THAT THE COMBINATION has proved incredibly stupid for me at times, I pick "I DRANK SO MUCH I JUST FEEL STUPID," by the Gear Daddies as a fun tune that I HAVE (now...ah not so much) related to in the past and do so very little currently.

This next one should be part of the anger management tour of Eminem. OK, sure, I hate to admit, but I love this song. Don't you get tired of the BS sometimes and feel that NO, I'M NOT GONNA TAKE IT? A funny story is back when this came out, my mom vetoed bad music and when she saw the singer or the video it would definitely be on the do not listen to list. Well even moms surprise. My mom heard the song, loved it, but I knew that she would never be as cool as me so I showed her the singer and the video knowing she'd drop me out of the family but she wouldn't taint my love for this song. But noooooooooooooo, mom listened to it, saw the video and claimed that as her song. Something inside me broke and I knew at that moment that mom actually had some "coolness" to her. I now love this song myself.

GOD PART II by U2

I love this song because it the contradictions in my life. I don't believe in _____, but I still _________. This is a less humorous song, but rest assured, it's probably one that we all deal with to some extent.

That's enough. I'm not fickle, but I have a lot of stuff hitting close to home here!

Walk with your IPOD and get Ticketed in Campton

2008-05-16T08:48:18Z

Now that Campton Hills is slowly falling apart, I think that it's time to share with you the latest incident that happened last week out in the Village. This is crazy stuff. As you know, the "Owners" of this village, Patsy Smith, et al. have represented that they are going to run the village with no new taxes. Sure...new salaries, new costs, more overhead and purchase village SUVs and no new taxes.

There are the regular reports of getting ticketed for speeding 48 in a 45 zone. Yes the speeder sped, but again, common sense is not prevailing here. But with out direct taxation on the community (can you call it a community if most people want out) as a whole, but nickel and diming the residents is another method to get tax revenue.

HERE'S THE LATEST: Last week, it was reported, that Mr. Campton Hills Policeman was looking for something to do and so he went for a drive. A local, unnamed pedestrian felt that it'd be nice to go for a workout and got her running shoes on, her IPOD out and went for a run. Mr. Policeman (no fault to him as he's just following the directives of his boss), pulled her over in her own subdivision for walking / jogging on the wrong side of the road. Further this criminal worker - outer also had the audacity to be working out while listening to the IPOD in BOTH EARS. Evidently, she should be fined if she is doing something this outrageous.

GIVE ME A BREAK....the comments I received are just that...give me a break, WTF and others. I don't fault Mr. Policeman. He values employment and needs to follow his employer's directives.

HERE'S THE RUB....We all know that this new village is doomed. Power and money are at the root of their activities. They're not money hungry, but the village needs money. This would be great to foward to John Stossel at give me a break to have ABC, NBC or whomever interview our leaders here.

Now I can see if they were running on the wrong side of the road of Route 64, Bolcum, Burlington, LaFox or some major thorofare, but within a subdivision when the person is walking....HELLO, communism has even left the Soviet Union!!!!!!! Fortunately for this woman the cop was compassionate and just let her off with a warning. My question is when will the leaders become compassionate to their citizens as well as to their finest in blue and cut each of them some slack?

I guess we'll just have to wait until all the litigation and next votes are done. I do know that there are many who supported the village who have come to see the light. Stay tuned....there are so many more stories to come.....let's hope they end soon.

Inflation Today translated for the average Joe - - - crazy stuff here!

2008-05-15T16:09:11Z

Some notes regarding inflation enclosed.

National trucking/transportation companies are now charging a 31% gas surcharge for all deliveries. ~It costs 31% more to deliver goods than it did last year!

To keep the prices of Oil in perspective:

Current costs ~$125/barrel for Oil.

19.5 gallons of gasoline are produced from each barrel.

Thus, the cost per gallon should be $6.41!!!

Starbuck Analogy:

16 oz of Starbucks Coffee = $3.50 (if you get something with espresso).

There's 8 cups per gallon: Each gallon of coffee costs 8 x $3.50 = $28/Gallon.

There's 42 Gallons per barrel: 42 x $28 = $1,176/barrel for coffee!

A Cheap Bottle of Water Costs about $1.00... that's about $8/gallon or $336/Barrel!

Milk costs about $4/gallon... that's about the same price of gas!! (or if you're lactose intolerant, ...well, that's another story).