finance: WARNING: Do not advertise with MagicYellow.com - 07/01/08 12:02 PM

**** WARNING ****
I am warning my fellow ActiveRainers against using the advertising services of MagicYellow.com.
DO NOT USE MAGICYELLOW.COM
On May 21, 2008 I agreed to advertise with MagicYellow.com. The salesperson made wonderful promises about the MagicYellow site their graphic designer would create for me. He also assured me how prominent my Listing would be in the various search engines since he was "upgrading me" to be a featured advertiser.
The cost of a one-year agreement was $450.00 which I paid with my American Express credit card.
Approximately 10 days later when they emailed me a link to my Listing, I … (27 comments)

finance: California sues Countrywide - 06/29/08 05:30 PM
I was interested to learn that the Attorney general of California has joined Illinois in filing a lawsuit against Countrywide. California is also suing its founder, Angelo Mozilo.
California is accusing Countrywide of false advertising and unfair business practices which resulted in homeowners applying for risky mortgages far beyond their means. The allegations are that Countrywide obscured the true affordability of interest only, adjustable rate mortgages and pre-payment penalties - which led borrowers to believe they could refinance before their mortgage interest rates adjusted.
In addition to the thousands of consumers who have been negatively impacted by Countrywide, 7500 employees will lose their jobs … (11 comments)

finance: $5 Billion .... and still making more - 06/19/08 05:15 AM
Apple Sells 5 Billionth Song Through iTunes
While reading Business and Financial News this morning I came across an article that made me say "wow". Apple has sold 5 Billion songs through iTunes. At 99c a pop, that's almost $5 Billion is sales for Apple. That's a huge number.
"The sales figures suggest that demand for digital music is showing no signs of abating. Apple (AAPL) hit the 5 billion song mark four months after it reached sales of 4 billion songs. In April, data from retail research firm NPD Group said Apple had displaced Wal-Mart (WMT) as the No. 1 … (3 comments)

finance: When is a Mortgage not a Mortgage? - 06/14/08 10:03 AM
In California, Lenders do not register Mortgages on properties, yet it is common practice to have Mortgage Brokers deal with the financing aspect of Real Estate transactions.

A Home Loan is not a Mortgage, and a Mortgage is not a Deed of Trust.
A Home Loan is a loan secured by the equity in the borrower's home.
A Mortgage is the pledging of a property to a lender as a security for a loan. It is a security instrument that you give to the lender; a document that protects the lender's interests in your property. While a mortgage in itself is not … (6 comments)

finance: Federal Budget Trade-offs & Healthcare - 06/13/08 05:59 PM
Did you know?
Taxpayers in Los Angeles, California will pay $1.2 billion for tax cuts for the richest 10% in FY 2009. For the same amount of money, 512,271 People could have been provided with Health Care for One Year.
Did you know?
Taxpayers in Los Angeles, California paid $1.5 billion for the cost of the Iraq War in FY2007. For the same amount of money, 604,532 People could have been provided with Health Care for One Year.
What are your thoughts about promoting Health Care for all Americans?
… (0 comments)

finance: In Life, There are Three Kinds of People - 06/08/08 03:55 AM
In life, there are three kinds of people:
Those that make things happen;
Those that watch things happen;
And those who wondered what happened.
Independent Brokers make things happen!
In the current market environment it's not always easy to stay motivated, focused and enthusiastic. We are continually bombarded by negative reports and fearful thinking. As Independent Business-people we need to focus on a positive goal and put out brain to work to devise a plan for success. We need to stop dwelling on the bad news, stop worrying bout the future, and rather do something about it. 
This is the biggest step towards becoming … (9 comments)

finance: Prejudice and Injustice - Taxation and discrimination against gay couples - 05/18/08 06:33 PM
Do you know that when a spouse in a straight marraiage dies, and the property (owned by the two spouses) is valued for Estate Duty purposes, there is what is called a "stepped up basis" which is not applicable in Gay Marriages or Civil Unions.
Practically, what this means is that if a property is valued at (for example purposes) at $100,000, and the surviving spouse sells the property the day after the one souse dies, Capital Gains Tax is payable on the difference between the Selling Price and the "stepped up basis".
In my example above, if the stepped-up basis … (15 comments)

finance: Can $15 billion save your neighborhood? - 05/06/08 02:37 AM
CNN Business featured an interesting article today.
"Can $15 billion and some paint save your 'hood?"
http://money.cnn.com/2008/05/06/real_estate/rehab_plan.moneymag/index.htm?postversion=2008050609
The Bush Administration released a comment stating President Bush would veto this $15 Billion bill.
This is disappointing when put into proper perspective considering the Government is spending over $12 Billion per month in Iraq.
I'm all for supporting our troops, but I'm also for supporting average Americans who are struggling to hold onto teir homes.
… (2 comments)

finance: The Housing Rescue Package - 05/05/08 04:26 AM
CNN featured an interesting article today titled: "White House opposes Housing Package".
"Official contends Democrats' package is a bailout that would expose taxpayers to risk, says Bush would veto $15B bill to rehabilitate foreclosed properties".
http://money.cnn.com/2008/04/24/news/economy/Congress_Housing.ap/index.htm?postversion=2008042418
Put into perspective, America is spending over $12 Billion per month on the Iraq war. Does the Housing Market for struggling Americans mean so little to the Administration?
Take a look at this site: National Priorities Project analyzes and clarifies federal data so that people can understand and influence how their tax dollars are spent.
http://www.nationalpriorities.org/costofwar_home
… (4 comments)