Mortgage Servicing Quotes

We have not noticed how fast the rest has risen. Most of the industrialized world--and a good part of the nonindustrialized world as well--has better cell phone service than the United States. Broadband is faster and cheaper across the industrial world, from Canada to France to Japan, and the United States now stands sixteenth in the world in broadband penetration per capita. Americans are constantly told by their politicians that the only thing we have to learn from other countries' health care systems is to be thankful for ours. Most Americans ignore the fact that a third of the country's public schools are totally dysfunctional (because their children go to the other two-thirds). The American litigation system is now routinely referred to as a huge cost to doing business, but no one dares propose any reform of it. Our mortgage deduction for housing costs a staggering $80 billion a year, and we are told it is crucial to support home ownership, except that Margaret Thatcher eliminated it in Britain, and yet that country has the same rate of home ownership as the United States. We rarely look around and notice other options and alternatives, convinced that "we're number one.

Claiming that the past was socially better than the present is also a hallmark of white supremacy. Consider any period in the past from the perspective of people of color: 246 years of brutal enslavement; the rape of black women for the pleasure of white men and to produce more enslaved workers; the selling off of black children; the attempted genocide of Indigenous people, Indian removal acts, and reservations; indentured servitude, lynching, and mob violence; sharecropping; Chinese exclusion laws; Japanese American internment; Jim Crow laws of mandatory segregation; black codes; bans on black jury service; bans on voting; imprisoning people for unpaid work; medical sterilization and experimentation; employment discrimination; educational discrimination; inferior schools; biased laws and policing practices; redlining and subprime mortgages; mass incarceration; racist media representations; cultural erasures, attacks, and mockery; and untold and perverted historical accounts, and you can see how a romanticized past is strictly a white construct. But it is a powerful construct because it calls out to a deeply internalized sense of superiority and entitlement and the sense that any advancement for people of color is an encroachment on this entitlement.

One of my foundation’s main initiatives is to build smart homes for severely wounded veterans. We provide these houses and the land they’re built on at no cost to the vets, completely mortgage free.

Romantic literature often presents the individual as somebody caught in a struggle against the state and the market. Nothing could be further from the truth. The state and the market are the mother and father of the individual, and the individual can survive only thanks to them. The market provides us with work, insurance and a pension. If we want to study a profession, the government’s schools are there to teach us. If we want to open a business, the bank loans us money. If we want to build a house, a construction company builds it and the bank gives us a mortgage, in some cases subsidised or insured by the state. If violence flares up, the police protect us. If we are sick for a few days, our health insurance takes care of us. If we are debilitated for months, national social services steps in.

Most of the crime-ridden minority neighborhoods in New York City, especially areas like East New York, where many of the characters in Eric Garner’s story grew up, had been artificially created by a series of criminal real estate scams. One of the most infamous had involved a company called the Eastern Service Corporation, which in the sixties ran a huge predatory lending operation all over the city, but particularly in Brooklyn. Scam artists like ESC would first clear white residents out of certain neighborhoods with scare campaigns. They’d slip leaflets through mail slots warning of an incoming black plague, with messages like, “Don’t wait until it’s too late!” Investors would then come in and buy their houses at depressed rates. Once this “blockbusting” technique cleared the properties, a company like ESC would bring in a new set of homeowners, often minorities, and often with bad credit and shaky job profiles. They bribed officials in the FHA to approve mortgages for anyone and everyone. Appraisals would be inflated. Loans would be approved for repairs, but repairs would never be done. The typical target homeowner in the con was a black family moving to New York to escape racism in the South. The family would be shown a house in a place like East New York that in reality was only worth about $15,000. But the appraisal would be faked and a loan would be approved for $17,000. The family would move in and instantly find themselves in a house worth $2,000 less than its purchase price, and maybe with faulty toilets, lighting, heat, and (ironically) broken windows besides. Meanwhile, the government-backed loan created by a lender like Eastern Service by then had been sold off to some sucker on the secondary market: a savings bank, a pension fund, or perhaps to Fannie Mae, the government-sponsored mortgage corporation. Before long, the family would default and be foreclosed upon. Investors would swoop in and buy the property at a distressed price one more time. Next, the one-family home would be converted into a three- or four-family rental property, which would of course quickly fall into even greater disrepair. This process created ghettos almost instantly. Racial blockbusting is how East New York went from 90 percent white in 1960 to 80 percent black and Hispanic in 1966.

Speculators, meanwhile, have seized control of the global economy and the levers of political power. They have weakened and emasculated governments to serve their lust for profit. They have turned the press into courtiers, corrupted the courts, and hollowed out public institutions, including universities. They peddle spurious ideologies—neoliberal economics and globalization—to justify their rapacious looting and greed. They create grotesque financial mechanisms, from usurious interest rates on loans to legalized accounting fraud, to plunge citizens into crippling forms of debt peonage. And they have been stealing staggering sums of public funds, such as the $65 billion of mortgage-backed securities and bonds, many of them toxic, that have been unloaded each month on the Federal Reserve in return for cash.21 They feed like parasites off of the state and the resources of the planet. Speculators at megabanks and investment firms such as Goldman Sachs are not, in a strict sense, capitalists. They do not make money from the means of production. Rather, they ignore or rewrite the law—ostensibly put in place to protect the weak from the powerful—to steal from everyone, including their own shareholders. They produce nothing. They make nothing. They only manipulate money. They are no different from the detested speculators who were hanged in the seventeenth century, when speculation was a capital offense. The obscenity of their wealth is matched by their utter lack of concern for the growing numbers of the destitute. In early 2014, the world’s 200 richest people made $13.9 billion, in one day, according to Bloomberg’s billionaires index.22 This hoarding of money by the elites, according to the ruling economic model, is supposed to make us all better off, but in fact the opposite happens when wealth is concentrated in the hands of a few individuals and corporations, as economist Thomas Piketty documents in his book Capital in the Twenty-First Century.23 The rest of us have little or no influence over how we are governed, and our wages stagnate or decline. Underemployment and unemployment become chronic. Social services, from welfare to Social Security, are slashed in the name of austerity. Government, in the hands of speculators, is a protection racket for corporations and a small group of oligarchs. And the longer we play by their rules the more impoverished and oppressed we become. Yet, like

It was during the 1970s that statisticians decided it would be a good idea to measure banks’ “productivity” in terms of their risk-taking behavior. The more risk, the bigger their slice of the GDP.14 Hardly any wonder, then, that banks have continually upped their lending, egged on by politicians who have been convinced that the financial sector’s slice is every bit as valuable as the whole manufacturing industry. “If banking had been subtracted from the GDP, rather than added to it,” the Financial Times recently reported, “it is plausible to speculate that the financial crisis would never have happened.”15 The CEO who recklessly hawks mortgages and derivatives to lap up millions in bonuses currently contributes more to the GDP than a school packed with teachers or a factory full of car mechanics. We live in a world where the going rule seems to be that the more vital your occupation (cleaning, nursing, teaching), the lower you rate in the GDP. As the Nobel laureate James Tobin said back in 1984, “We are throwing more and more of our resources, including the cream of our youth, into financial activities remote from the production of goods and services, into activities that generate high private rewards disproportionate to their social productivity.”16

Here’s a crash course in the economy,” said Hunter. “Americans get up each morning and go to factories and farms and fire stations and work their whole lives, creating actual products you can hold in your hands. Or some service that benefits. I mean, what the fuck’s that about?” “Work isn’t good?” “It’s the damn workers who crashed the economy.” “I thought it was you,” said Serge. “Don’t be a comedian.” Hunter started counting off on his fingers. “They lost their retirement accounts, their mortgages, their homes, even their jobs. Can’t these assholes do anything right?” “You on the other hand?” “We ended up with all the cash. And then the people turned to the government and went, ‘Holy shit! What happened to all our goddamn money? Do something!’ So the government takes even more money from the workers and—this part is absolutely priceless—they give it all to us again! Now you tell me who’s the success story.” “But what’s so hard about accepting free money?” “That’s exactly what I was thinking when half the country screamed, ‘I’ll kick your fucking ass if you give me health care!’ ” “Sounds too good for words,” said Serge. “It’s good enough for one word,” said Hunter. “Socialism.” Serge pounded the bar with his fist. “Fuck socialism.” “Don’t say that!” Hunter took a swig. “I love socialism.” “You do?” Hunter nodded hard. “Finest word in the English language. Just mention socialism, and everyone gets blinded by rage, takes their eyes off us and prints up T-shirts that insult the president.” Bleadoph raised his hands toward the ceiling in exultation. “Thank God he was elected!” “Forgive my ignorance,” said Serge, “but weren’t the bailouts socialism?” Hunter shook his head. “It’s only socialism if the money goes down, not up.” “A toast,” said Serge. “To socialism!” “To socialism!

The state and the market are the mother and father of the individual, and the individual can survive only thanks to them. The market provides us with work, insurance and a pension. If we want to study a profession, the government’s schools are there to teach us. If we want to open a business, the bank loans us money. If we want to build a house, a construction company builds it and the bank gives us a mortgage, in some cases subsidised or insured by the state. If violence flares up, the police protect us. If we are sick for a few days, our health insurance takes care of us. If we are debilitated for months, national social services steps in. If we need around-the-clock assistance, we can go to the market and hire a nurse – usually some stranger from the other side of the world who takes care of us with the kind of devotion that we no longer expect from our own children. If we have the means, we can spend our golden years at a senior citizens’ home. The tax authorities treat us as individuals, and do not expect us to pay the neighbours’ taxes. The courts, too, see us as individuals, and never punish us for the crimes of our cousins.

Romantic literature often presents the individual as somebody caught in a struggle against the state and the market. Nothing could be further from the truth. The state and the market are the mother and father of the individual, and the individual can survive only thanks to them. The market provides us with work, insurance and a pension. If we want to study a profession, the government’s schools are there to teach us. If we want to open a business, the bank loans us money. If we want to build a house, a construction company builds it and the bank gives us a mortgage, in some cases subsidised or insured by the state. If violence flares up, the police protect us. If we are sick for a few days, our health insurance takes care of us. If we are debilitated for months, national social services steps in. If we need around-the-clock assistance, we can go to the market and hire a nurse – usually some stranger from the other side of the world who takes care of us with the kind of devotion that we no longer expect from our own children. If we have the means, we can spend our golden years at a senior citizens’ home. The tax authorities treat us as individuals, and do not expect us to pay the neighbours’ taxes. The courts, too, see us as individuals, and never punish us for the crimes of our cousins.

Romantic literature often presents the individual as somebody caught in a struggle against the state and the market. Nothing could be further from the truth. The state and the market are the mother and father of the individual, and the individual can survive only thanks to them. The market provides us with work, insurance and a pension. If we want to study a profession, the government’s schools are there to teach us. If we want to open a business, the bank loans us money. If we want to build a house, a construction company builds it and the bank gives us a mortgage, in some cases subsidised or insured by the state. If violence flares up, the police protect us. If we are sick for a few days, our health insurance takes care of us. If we are debilitated for months, national social services steps in. If we need around-the-clock assistance, we can go to the market and hire a nurse – usually some stranger from the other side of the world who takes care of us with the kind of devotion that we no longer expect from our own children. If we have the means, we can spend our golden years at a senior citizens’ home. The tax authorities treat us as individuals, and do not expect us to pay the neighbours’ taxes. The courts, too, see us as individuals, and never punish us for the crimes of our cousins. Not

A reply dated 13 May finally arrived from the town clerk. Mr Mottershead could open the zoo subject to: 1) the type of animals being limited to those already described in previous correspondence; 2) the estate should not be used as an amusement park, racing track or public dance hall; and 3) no animals were to be kept within a distance of a hundred feet from the existing road. This necessitated the purchase of an additional strip of land between the road and the estate, which would have to be securely enclosed, but which couldn't be used for animals. (First it was used as a children's playground and later became a self-service cafe.) Somehow my dad managed to get a further mortgage of £350 to pay for the land and fencing. Of all the conditions, the most damaging in the long term was the last: the zoo was allowed 'no advertisement, sign or noticeboard which can be seen from the road above-mentioned'. Only a small sign at the entrance to the estate would be permitted, which meant the lodge, which was a good twenty-five yards from the road was completely invisible to any passing car. This would remain a problem for a very long time. For many years, the night before bank holidays, Dad and his friends would have to go out and hang temporary posters under the official road signs on the Chester bypass. The police turned a blind eye as long as they were taken down shortly afterwards.

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I planned to spend the day vegging out and watching some good action movies when Aunt Jeanie had to ruin my plans as usual. Just when I had gotten comfortable in my beanbag chair with a bag of Twizzlers, she burst into the bedroom without even knocking. "Aunt Jeanie, I'd appreciate it if you would at least knock," I told her as sweetly as possible. "Bex, this is my house. When you get your own house and pay the mortgage, you can make the rules." I sighed and focused on the television, hoping she would go away, but she wouldn't. "So, have you decided on a service project?" "Yes, but Mrs. Armstrong denied it," I answered. I thought my cupcake idea was great. Cupcakes make people happy and wasn't that the point? "Good. This afternoon some of the girls are going down to the soup kitchen to make bagged lunches for the women and children's shelter. Be ready in a little bit." I loved the way she asked whether or not I'd actually like to do it. "All right.

Home Affordable Unemployment Program Under the Unemployment Program, for a certain period of time, you pay either reduced mortgage payments (equal to less than 31% of your gross income) or none at all. This period is called a forbearance and typically lasts for 12 months (less if you start working again, or more if the servicer extends the period). To be eligible for UP: • You must meet the same eligibility requirements as for HAMP (see below). • You must be unemployed and be eligible to receive unemployment benefits when you request UP. • The servicer can require you to receive at least three months of unemployment benefits before it starts the forbearance period. • You must make the request before you become 12 months late with your mortgage payments. The servicer cannot proceed with foreclosure after you request UP, while you are in any UP plan or extension of it, or while you are being evaluated for HAMP or HAFA (see below for descriptions of these programs). If your unemployment situation will be more than short-term, the servicer is required to evaluate whether you qualify for one of the long-term programs, like HAMP or HAFA (both described below).

At First Choice Loan Services, a Dallas mortgage bank Frank Jesse, senior loan originator, is one of the top lenders in the Greater Dallas area and can help you understand the rules and regulations of purchasing a home. We provide a wide range of mortgage products including:- Fha Loans Frank Jesse |First Choice Loan Services Va Loans Frank Jesse |First Choice Loan Services Fixed Rate Mortgages Frank Jesse |First Choice Loan Services Adjustable Rate Mortgages Frank Jesse |First Choice Loan Services Refinancing Options Frank Jesse |First Choice Loan Services Jumbo Loans Frank Jesse |First Choice Loan Services Renovation Mortgages Frank Jesse |First Choice Loan Services Contact info:- First Choice Loan Services Inc. 15303 N Dallas Parkway #150 Addison, TX 75001 Direct: (214) 306-8388 Mobile: (469) 766-8390 FAX: (214) 206-9366 Email: frank.jesse@fcbmtg.com

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But Rita was relentless. For her, there was always one more house to look at, and every single Next One was going to be the One, the ideal location for Total Domestic Felicity, and so we would all race grumpily on to another perfectly serviceable home, only to discover that a leak in the sprinkler system in the backyard was almost certainly causing a sinkhole under the turf, or there was a lien on the second mortgage, or killer bees had been seen nesting only two blocks away. It was always something, and Rita seemed unaware that she had spun off alone into a deep neurotic fugue of perpetual rejection. And

The Integrity Mortgage team works hard for every client to ensure the best service and home buying experience. Let us take care of all the hard work when it comes to getting your home loan.

According to the FBI’s website; The Securities and Financial Fraud Unit (“SFF”) focuses on the prosecution of complex and sophisticated securities, commodities, and other financial fraud cases. Working closely with regulatory partners at the SEC, CFTC, and other agencies, SFF has tackled some of the largest frauds in the financial services industry and a wide mix of market manipulation and insider trading cases. The SFF Unit also focuses on a broader array of financial fraud, including mortgage fraud, bank fraud, and government procurement fraud. Fraud Section, Criminal Division U.S. Department of Justice ATTN: Chief, Securities and Financial Fraud Unit 950 Constitution Ave., NW Washington, DC 20530

a group, blacks are more unbanked than any other race—60 percent of the black population is unbanked or underbanked, while only 20 percent of whites are in the same category.15 What this means is that blacks disproportionately rely on fringe banks, leading to a debt trap. Blacks pay higher interest on mortgages and small loans. They pay more fees on basic services than similarly situated whites and they are taken to court disproportionately by creditors for very small debts.16

The party for those addicted to markets has been the “make it rain” free-money printing game run since 1971. They may call it “Quantitavive Easing”, (QE) or “monetary policy” or “Asset purchases by the Fed”, or any number of terms which cause 99% of humans to stop listening. I urge everyone to demand better from governments, professionals and public servants. To demand real “service” from those who claim to be in this role. Right now we are letting those addicted to money, play with “self” accountability, which is creating addicts and poverty at a faster rate than our western economies can create prosperity. “Asset purchases” means the Fed printing money, to give this money to banks in exchange for some of the banks bad assets that need to be purged. How wealthy would your family be if each losing investment could simply be taken off your hands…using borrowed money that the taxpayer must then repay? How poor would your neighbors be if they did not have this money pipeline working for them? The newly printed money for asset purchases, is backed by US Treasury IOU’s, or similar notes and borrowings, for which the public must now repay through income taxes…forever. Banks thus get billions in freshly created cash, while the US public gets the bad assets, or gets stuck with the bill to pay back the money created to purchase the bad assets. I could probably refine that description a bit, but for now I am going to let it lay here. Any corrections are welcomed with gratitude. Dousing the flames of the 2008 mortgage bubble disaster, using government money issued in this manner, was said to be needed to prevent complete financial system meltdown. A better choice would have been to let those with a gambling addiction, suffer the consequences of their addiction, like we demand of every addict in Downtown LA. But the Fed is the perfect tool for dumping bank gambling losses and bad assets upon the taxpayer, and to make taxpayers pay to give the banks a clean-money start each time. The only thing left to do for the recipients of some of those newly printed billions, is to “launder it”, to get

But however determined this programme of domestic consolidation, following the Reichstag election results of May 1924, not even the votes of the SPD were sufficient to carry the constitutional amendments necessary to ratify the Dawes Plan, which included an international mortgage on the Reichsbahn. Over a quarter of the German electorate had voted for the far right - 19 per cent for the DNVP, almost 7 per cent for Hitler's NSDAP. Almost 13 per cent had opted for the Communists. The two-thirds majority would have to include at least some deputies from the DNVP, intransigent foes of the Versailles Treaty and the progenitors of the 'stab in the back' legend. So concerned were the foreign powers that the American ambassador Alanson Houghton intervened directly in German party politics, summoning leading figures in the DNVP to explain bluntly that if they rejected the Dawes Plan, it would be one hundred years before America ever assisted Germany again. Under huge pressure from their business backers, on 29 August 1924 enough DNVP members defected to the government side to ratify the plan. In exchange, the Reich government offered a sop to the nationalist community by formally renouncing its acceptance of the war-guilt clause of the Versailles Treaty. Nevertheless, on 10 October 1924 Jack Morgan bit his tongue and signed the loan agreement that committed his bank along with major financial interests in London, Paris and even Brussels to the 800-million Goldmarks loan. The loan was to apply the salve of business common sense to the wounds left by the war. And it was certainly an attractive proposition. The issuers of the Dawes Loan paid only 87 cents on the dollar for their bonds. They were to be redeemed with a 5 per cent premium. For the 800 million Reichsmarks it received, Germany would service bonds with a face value of 1.027 billion. But if Morgan's were bewildered by the role they had been forced to play, this speaks to the eerie quality of the reconfiguration of international politics in 1924. The Labour government that hosted the final negotiations in London was the first socialist government elected to preside over the most important capitalist centre of the old world, supposedly committed by its party manifesto of 1919 to a radical platform of nationalization and social transformation. And yet in the name of 'peace' and 'prosperity' it was working hand in glove with an avowedly conservative adminstration in Washington and the Bank of England to satisfy the demands of American investors, in the process imposing a damaging financial settlement on a radical reforming government in France, to the benefit of a German Republic, which was at the time ruled by a coalition dominated by the once notorious annexationist, but now reformed Gustav Stresemann. 'Depoliticization' is a euphemistic way of describing this tableau of mutual evisceration. Certainly, it had been no plan of Wilson's New Freedom to raise Morgan's to such heights. In fact, even Morgan's did not want to own the terms of the Dawes Settlement. Whereas Wilson had invoked public opinion as the final authority, this was now represented by the 'investing' public, for whom the bankers, as financial advisors, were merely the spokesmen. But if a collective humbling of the European political class had been what lay behind Wilson's call for a 'peace without victory' eight years earlier, one can't help thinking that the Dawes Plan and the London Conference of 1924 must have had him chuckling in his freshly dug grave. It was a peace. There were certainly no European victors.

Over the next few years, the number of African Americans seeking jobs and homes in and near Palo Alto grew, but no developer who depended on federal government loan insurance would sell to them, and no California state-licensed real estate agent would show them houses. But then, in 1954, one resident of a whites-only area in East Palo Alto, across a highway from the Stanford campus, sold his house to a black family. Almost immediately Floyd Lowe, president of the California Real Estate Association, set up an office in East Palo Alto to panic white families into listing their homes for sale, a practice known as blockbusting. He and other agents warned that a 'Negro invasion' was imminent and that it would result in collapsing property values. Soon, growing numbers of white owners succumbed to the scaremongering and sold at discounted prices to the agents and their speculators. The agents, including Lowe himself, then designed display ads with banner headlines-"Colored Buyers!"-which they ran in San Francisco newspapers. African Americans desperate for housing, purchased the homes at inflated prices. Within a three-month period, one agent alone sold sixty previously white-owned properties to African Americans. The California real estate commissioner refused to take any action, asserting that while regulations prohibited licensed agents from engaging in 'unethical practices,' the exploitation of racial fear was not within the real estate commission's jurisdiction. Although the local real estate board would ordinarily 'blackball' any agent who sold to a nonwhite buyer in the city's white neighborhoods (thereby denying the agent access to the multiple listing service upon which his or her business depended), once wholesale blockbusting began, the board was unconcerned, even supportive. At the time, the Federal Housing Administration and Veterans Administration not only refused to insure mortgages for African Americans in designated white neighborhoods like Ladera; they also would not insure mortgages for whites in a neighborhood where African Americans were present. So once East Palo Alto was integrated, whites wanting to move into the area could no longer obtain government-insured mortgages. State-regulated insurance companies, like the Equitable Life Insurance Company and the Prudential Life Insurance Company, also declared that their policy was not to issue mortgages to whites in integrated neighborhoods. State insurance regulators had no objection to this stance. The Bank of America and other leading California banks had similar policies, also with the consent of federal banking regulators. Within six years the population of East Palo Alto was 82 percent black. Conditions deteriorated as African Americans who had been excluded from other neighborhoods doubled up in single-family homes. Their East Palo Alto houses had been priced so much higher than similar properties for whites that the owners had difficulty making payments without additional rental income. Federal and state hosing policy had created a slum in East Palo Alto. With the increased density of the area, the school district could no longer accommodate all Palo Alto students, so in 1958 it proposed to create a second high school to accommodate teh expanding student population. The district decided to construct the new school in the heart of what had become the East Palo Alto ghetto, so black students in Palo Alto's existing integrated building would have to withdraw, creating a segregated African American school in the eastern section and a white one to the west. the board ignored pleas of African American and liberal white activists that it draw an east-west school boundary to establish two integrated secondary schools. In ways like these, federal, state, and local governments purposely created segregation in every metropolitan area of the nation.

A family with a household income of $80,000 sits just in the top 30% of all households. If this household bought at the top of the market, it has a huge mortgage, credit cards, auto loans for two cars. Servicing this debt in addition to combined utilities leaves very little for dining out or going on vacation, especially if the parents are contributing to college education for their kids. Measured in terms of the items this family (currently) legally owns they appear wealthy. However subtracting their debt obligations paints a picture of a family on the breadline that spends much of their incarnation servicing debt with little money to actually live their lives over the forty years of debt servicing. This is a family that is one negative health diagnosis or even minor auto accident away from disaster. This family is a teacup.

your Before-Tax Cash Flow (BTCF), which is your NOI less the debt service on your mortgage. Use this to determine your cash on cash return.

Claiming that the past was socially better than the present is also a hallmark of white supremacy. Consider any period in the past from the perspective of people of color: 246 years of brutal enslavement; the rape of black women for the pleasure of white men and to produce more enslaved workers; the selling off of black children; the attempted genocide of Indigenous people, Indian removal acts, and reservations; indentured servitude, lynching, and mob violence; sharecropping; Chinese exclusion laws; Japanese American internment; Jim Crow laws of mandatory segregation; black codes; bans on black jury service; bans on voting; imprisoning people for unpaid work; medical sterilization and experimentation; employment discrimination; educational discrimination; inferior schools; biased laws and policing practices; redlining and subprime mortgages; mass incarceration; racist media representations; cultural erasures, attacks, and mockery; and untold and perverted historical accounts, and you can see how a romanticized past is strictly a white construct.

Claiming that the past was socially better than the present is also a hallmark of white supremacy. Consider any period in the past from the perspective of people of color: 246 years of brutal enslavement; the rape of black women for the pleasure of white men and to produce more enslaved workers; the selling off of black children; the attempted genocide of Indigenous people, Indian removal acts, and reservations; indentured servitude, lynching, and mob violence; sharecropping; Chinese exclusion laws; Japanese American internment; Jim Crow laws of mandatory segregation; black codes; bans on black jury service; bans on voting; imprisoning people for unpaid work; medical sterilization and experimentation; employment discrimination; educational discrimination; inferior schools; biased laws and policing practices; redlining and subprime mortgages; mass incarceration; racist media representations; cultural erasures, attacks, and mockery; and untold and perverted historical accounts, and you can see how a romanticized past is strictly a white construct. But it is a powerful construct because it calls out to a deeply internalized sense of superiority and entitlement and the sense that any advancement for people of color is an encroachment on this entitlement. The past was great for white people (and white men in particular) because their positions went largely unchallenged.

Eleven Questions to Ask During your interview with any prospective property manager, make sure to cover all of these key questions: 1. How long have you been managing properties? 2. What types of properties do you manage? 3. What licenses and certifications do you hold? 4. Do you have a thorough understanding of landlord-tenant law, including fair housing practices, eviction procedures, and safety codes? 5. How long does it typically take you to fill a vacancy? 6. How do you vet prospective tenants? 7. How many tenants have you evicted in the past six months? 8. What services do you provide? 9. What are your fees and how are they charged? 10. Where are the property funds held and how are they handled? 11. How often do you perform property inspections and do preventive maintenance?

Depreciation gets special IRS attention, and requires Form 4562. To fill out this form (whether you’re doing it with DIY software or providing info to your accountant), you’ll need to know the basis of your rental property. The basis for depreciation is different than the overall basis because land does not get depreciated, and may change over time if you make improvements to the property. To get started you’ll need to know: • The original purchase price of the property • The list of closing costs (most closing costs get added to the basis) • Land value, which you can find on the most recent property tax assessment paperwork • Additions or improvements you made that will add value for more than one year (think replaced roof, not repainted rooms) • The date the property was “placed in service,” meaning made available for rent The

It’s unthinkable, now to live as her parents had done, going to work from nine to five and enjoying the benefits of the newly-formed health and education services. What paradise it had seemed! Now, in order to pay their exorbitant mortgages, and ever more exorbitant fuel prices, British adults have to work long hours – the longest, it is said, in Europe… Everyone they know, everyone they see, is just like them, living in houses like these, reading the same papers, seeing the same films and TV programmes and plays, buying from the same shops and sending their children to the same schools; and they think it will go on for ever, either ever-mounting property prices cushioning them. But it can’t.

Salary is the currency that is gotten from mortgaging your life and time

Mortgage lending is often a common service used by people who cannot afford to make the full payment of a mortgage.

Bill Clinton's political formula for seizing the presidency was simple. He made money tight in the ghettos and let it flow free on Wall Street. He showered the projects with cops and bean counters and pulled the ops off the beat in the financial services sector. And in one place he created vast new mountain ranges of paperwork, while in another paperwork simply vanished. After Clinton, just to get food stamps to buy potatoes and flour, you suddenly had to hand in a detailed financial history dating back years, submit to wholesale invasions of privacy, and give in to a range of humiliating conditions. Meanwhile banks in the 1990s were increasingly encouraged to lend and speculate without filing out any paperwork at all, and eventually borrowers were freed of the burden of even having to show proof of income when they took out mortgages or car loans.

Net wages: “It’s not what you make, but what you net” after paying the FIRE sector, basic utilities and taxes. The usual measure of disposable personal income (DPI) refers to how much employees take home after income-tax withholding (designed in part by Milton Friedman during World War II) and over 15% for FICA (Federal Insurance Contributions Act) to produce a budget surplus for Social Security and health care (half of which are paid by the employer). This forced saving is lent to the U.S. Treasury, enabling it to cut taxes on the higher income brackets. Also deducted from paychecks may be employee withholding for private health insurance and pensions. What is left is by no means freely available for discretionary spending. Wage earners have to pay a monthly financial and real estate “nut” off the top, headed by mortgage debt or rent to the landlord, plus credit card debt, student loans and other bank loans. Electricity, gas and phone bills must be paid, often by automatic bank transfer – and usually cable TV and Internet service as well. If these utility bills are not paid, banks increase the interest rate owed on credit card debt (typically to 29%). Not much is left to spend on goods and services after paying the FIRE sector and basic monopolies, so it is no wonder that markets are shrinking. (See Hudson Bubble Model later in this book.) A similar set of subtrahends occurs with net corporate cash flow (see ebitda). After paying interest and dividends – and using about half their revenue for stock buybacks – not much is left for capital investment in new plant and equipment, research or development to expand production.

The 8 Basic Headers Work Family & Kids Spouse Health & Fitness Home Money Recreation & Hobbies Prospects for the Future Work The Boss Time Management Compensation Level of interest Co-workers Chances of promotion My Job Description Subordinates Family Relationship with spouse Relationship with children Relationship with extended family Home, chores and responsibilities Recreation & hobbies Money, expenses and allowances Lifestyle and standard of living Future planes and arrangements Spouse Communication type and intensity Level of independence Sharing each other's passions Division of roles and responsibilities Our time together Our planes for our future Decision making Love & Passion Health & Fitness General health Level of fitness Healthy lifestyle Stress factors Self awareness Self improvement Level of expense on health & fitness Planning and preparing for the rest of my life Home Comfort Suitability for needs Location Community and municipal services Proximity and quality of support/activity centers (i.e. school. Medical aid etc) Rent/Mortgage Repair / renovation Emotional atmosphere Money Income from work Passive income Savings and pension funds Monthly expenses Special expenses Ability to take advantage of opportunities / fulfill dreams Financial security / resilience Financial IQ / Understanding / Independent decision making Social, Recreation & Hobbies Free time Friends and social activity Level & quality of social ties Level of spending on S, R&H Culture events (i.e. theater, fairs etc) Space & accessories required Development over time Number of interests Prospect for the future Type of occupation Ratio of work to free time Promotion & Business development (for entrepreneurs) Health & Fitness Relationships Family and Home Financial security Fulfillment of vision / dreams  Creating Lenses with Excel If you wish to use Excel radar diagrams to simulate lenses, follow these steps: Open a new Excel spreadsheet.

Location Community and municipal services Proximity and quality of support/activity centers (i.e. school. Medical aid etc) Rent/Mortgage Repair / renovation Emotional atmosphere

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As a white person, I can openly and unabashedly reminisce about “the good old days.” Romanticized recollections of the past and calls for a return to former ways are a function of white privilege, which manifests itself in the ability to remain oblivious to our racial history. Claiming that the past was socially better than the present is also a hallmark of white supremacy. Consider any period in the past from the perspective of people of color: 246 years of brutal enslavement; the rape of black women for the pleasure of white men and to produce more enslaved workers; the selling off of black children; the attempted genocide of Indigenous people, Indian removal acts, and reservations; indentured servitude, lynching, and mob violence; sharecropping; Chinese exclusion laws; Japanese American internment; Jim Crow laws of mandatory segregation; black codes; bans on black jury service; bans on voting; imprisoning people for unpaid work; medical sterilization and experimentation; employment discrimination; educational discrimination; inferior schools; biased laws and policing practices; redlining and subprime mortgages; mass incarceration; racist media representations; cultural erasures, attacks, and mockery; and untold and perverted historical accounts, and you can see how a romanticized past is strictly a white construct.

What are you trying to buy? Asset type? Size? Price? To determine the answer to the first question, do the following: Start with your own net worth. Add in friends and family. The total team net worth is your starting point. Choose a market. Consider travel time and expense. You must be able to be in your market to look at deals at least once a month. Determine the viability of your market. Job growth? Population growth? Get deal flow from the market. Real estate agents Find all commercial realty companies in the city. Get on all their mailing lists. Analyze deals online from realtors in the area. Call the realtors about their listings. Direct to owners Get lists of owners. Create a system to reach owners directly. Mail Text Cold calling Analyze deals. Income approach Income – Expenses = Net operating income Net operating income – Debt service = Cash flow Check with lenders for current terms on debt. What is the CoC return? Cap rate? Debt ratio? Comparable data Check the analyzed cap rate against cap rates in the area for similar properties. Check comparable sale prices. Comps should be close in size and age to the subject property. Comps should have similar amenities. Comps should be within a few miles of the subject property. Exit Hold and operate. Refinance. Sell or flip. Consider upcoming market conditions. Debt Check with lenders or a mortgage broker to determine the availability of loans for this type of property. What are the terms and conditions? Is this the information you used to analyze the deal originally? Make the offer. Use an LOI to submit the offer in writing. The LOI will summarize the main deal points. If your offer is less than 15 percent of the asking price, speak with the realtor before you submit the offer. Once the offer is accepted, send the LOI to your attorney and have them draft the purchase agreement. Draft the purchase and sale agreement. Now that you have a fully executed contract, the clock starts. Earnest money goes into escrow. Do your due diligence. Financial inspection Physical inspection Lease audit Begin your loan application. The lender will complete three inspections. Appraisal Environmental inspection Physical engineer inspection of the buildings Do your closing. The lender will wire the loan proceeds to the closing escrow. Wire your down payment funds to the closing escrow. You own a new property! Engage property management for takeover of operations.

It was the German powerhouse Deutsche Bank AG, not my fictitious RhineBank, that financed the construction of the extermination camp at Auschwitz and the nearby factory that manufactured Zyklon B pellets. And it was Deutsche Bank that earned millions of Nazi reichsmarks through the Aryanization of Jewish-owned businesses. Deutsche Bank also incurred massive multibillion-dollar fines for helping rogue nations such as Iran and Syria evade US economic sanctions; for manipulating the London interbank lending rate; for selling toxic mortgage-backed securities to unwitting investors; and for laundering untold billions’ worth of tainted Russian assets through its so-called Russian Laundromat. In 2007 and 2008, Deutsche Bank extended an unsecured $1 billion line of credit to VTB Bank, a Kremlin-controlled lender that financed the Russian intelligence services and granted cover jobs to Russian intelligence officers operating abroad. Which meant that Germany’s biggest lender, knowingly or unknowingly, was a silent partner in Vladimir Putin’s war against the West and liberal democracy. Increasingly, that war is being waged by Putin’s wealthy cronies and by privately owned companies like the Wagner Group and the Internet Research Agency, the St. Petersburg troll factory that allegedly meddled in the 2016 US presidential election. The IRA was one of three Russian companies named in a sprawling indictment handed down by the Justice Department in February 2018 that detailed the scope and sophistication of the Russian interference. According to special counsel Robert S. Mueller III, the Russian cyber operatives stole the identities of American citizens, posed as political and religious activists on social media, and used divisive issues such as race and immigration to inflame an already divided electorate—all in support of their preferred candidate, the reality television star and real estate developer Donald Trump. Russian operatives even traveled to the United States to gather intelligence. They focused their efforts on key battleground states and, remarkably, covertly coordinated with members of the Trump campaign in August 2016 to organize rallies in Florida. The Russian interference also included a hack of the Democratic National Committee that resulted in a politically devastating leak of thousands of emails that threw the Democratic convention in Philadelphia into turmoil. In his final report, released in redacted form in April 2019, Robert Mueller said that Moscow’s efforts were part of a “sweeping and systematic” campaign to assist Donald Trump and weaken his Democratic rival, Hillary Clinton. Mueller was unable to establish a chargeable criminal conspiracy between the Trump campaign and the Russian government, though the report noted that key witnesses used encrypted communications, engaged in obstructive behavior, gave false or misleading testimony, or chose not to testify at all. Perhaps most damning was the special counsel’s conclusion that the Trump campaign “expected it would benefit electorally from the information stolen and released through Russian efforts.

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Case #6 Sandy and Bob Bob is a successful dentist in his community. In the 15 years since he established his own practice, he has established a reliable base of patients and has built a thriving business in a great location. A couple years ago, he brought his wife, Sandy, a business expert with an MBA, on board to help him oversee the business end of the dental practice. She had recently left her job at a financial services firm, and Bob knew that Sandy’s business acumen would be helpful in getting his administrative house in order. She brought on new employees, developed effective new processes, and enhanced the office’s marketing efforts. Within a few months, Sandy’s improvements had managed to make the dental practice a well-oiled machine. Now she could turn her attention to their real estate portfolio. Bob and Sandy owned three small apartment buildings around town, as well as one small commercial center that was home to a nail salon, a chiropractor’s office, a coffee house and a wine shop. Fortunately, Bob’s dental practice was a success and their investments earned a nice passive income for them. Unfortunately, because Bob earned on average $250,000 per year, the couple couldn’t use passive loss, which in their case came to about $100,000, from their investments to offset his high earned income. Eventually, they would be earning sheltered profits—when the mortgages on their properties were paid off and the rentals made pure profit, or if they were to sell a property. When those things eventually happened, they could use their losses to shelter those profits. But until that time, the losses were going unused. Sandy made an appointment with their CPA to discuss the situation and see how they might improve their tax situation. The CPA asked, “What about becoming a real estate professional?” He explained to Sandy that if she spent 750 hours per year, or about 15 hours a week, on the couple’s real estate investments, she would be considered a real estate professional by the IRS. This would enable the couple to write off 100 percent of their passive losses against Bob’s high income, which would bring his taxable income down to $100,000. This $100,000 deduction brought Bob and Sandy into a lower tax bracket, saving them roughly $31,000 in taxes. Sandy already devoted a large percentage of her time to overseeing their investments, and when she saw the tax advantages, her decision became clear: She would file the Section 469(c)(7) and become a real estate professional.

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According to analysts, 666 Fifth Avenue had about a 30 percent vacancy rate and only generated about half of its annual mortgage. It was rumored that the largest tenant was planning to move out. A Canadian company named Brookfield Property Partners took a ninety-nine-year lease on 666 Fifth Avenue. Brookfield paid the rent for the entire century-long lease, upfront, which amounted to about $1.1 billion—removing Kushner’s biggest financial headache (a $1.4 billion mortgage on the office portion of the tower due in February 2019). Brookfield got its financing for this deal from a $750 million mortgage from ING Group, a Dutch multinational and financial services corporation, and a $300 million mezzanine loan from Apollo Global Management.9 However, the Qatar Investment Authority, the government-run agency that made decisions about the nations’ financial investments, bought a $1.8 billion stake in Brookfield Property Partners. As the second largest shareholder, they had a lot to say about what should be purchased; in this instance, they apparently used Brookfield to bail out 666 Fifth Ave. This investment was a godsend to Kushner, who was now out of debt just as Qatar was suddenly no longer blockaded by Mohammad bin Salman bin Abdulaziz Al Saud, crown prince of Saudi Arabia (known colloquially as MBS), and his allies.

Chris is an experienced mortgage broker with a vast amount of knowledge and expertise within the mortgage industry. He is a Sydney based mobile lender who will be happy to meet you at your home or place of preference during or after work hours which includes weekdays and weekends. Chris will be your one point of contact throughout the whole process and will keep you updated every step of the way. Chris constantly keeps up to date with interest rates, policy changes and credit requirements, with a choice from over 20 lenders there are always options available. Chris aims to take the stress out of buying and selling with personal and professional service, the process will be simplified to help new and existing clients reach their financial potential.

No consumer has ever felt a deep desire for a mortgage—what consumers want is a home, and acquiring a home involves a great deal beyond just a mortgage, including products and services that come from multiple different industries.

Mortgage Contracting Services National Association of Housing and Redevelopment Officials (NAHRO) National Default Servicing  National Field Network National Field Representatives, Inc National Vendor Management Services Nationwide Field Inspectors Nationwide REO Brokers NewRep.com NHS Contractors NLA Management North American Property Preservation Northpoint Asset Management Now Property Preservation NREFSI

Consider any period in the past from the perspective of people of color: 246 years of brutal enslavement; the rape of black women for the pleasure of white men and to produce more enslaved workers; the selling off of black children; the attempted genocide of Indigenous people, Indian removal acts, and reservations; indentured servitude, lynching, and mob violence; sharecropping; Chinese exclusion laws; Japanese American internment; Jim Crow laws of mandatory segregation; black codes; bans on black jury service; bans on voting; imprisoning people for unpaid work; medical sterilization and experimentation; employment discrimination; educational discrimination; inferior schools; biased laws and policing practices; redlining and subprime mortgages; mass incarceration; racist media representations; cultural erasures, attacks, and mockery; and untold and perverted historical accounts, and you can see how a romanticized past is strictly a white construct.

It was the German powerhouse Deutsche Bank AG, not my fictitious RhineBank, that financed the construction of the extermination camp at Auschwitz and the nearby factory that manufactured Zyklon B pellets. And it was Deutsche Bank that earned millions of Nazi reichsmarks through the Aryanization of Jewish-owned businesses. Deutsche Bank also incurred massive multibillion-dollar fines for helping rogue nations such as Iran and Syria evade US economic sanctions; for manipulating the London interbank lending rate; for selling toxic mortgage-backed securities to unwitting investors; and for laundering untold billions’ worth of tainted Russian assets through its so-called Russian Laundromat. In 2007 and 2008, Deutsche Bank extended an unsecured $1 billion line of credit to VTB Bank, a Kremlin-controlled lender that financed the Russian intelligence services and granted cover jobs to Russian intelligence officers operating abroad. Which meant that Germany’s biggest lender, knowingly or unknowingly, was a silent partner in Vladimir Putin’s war against the West and liberal democracy. Increasingly, that war is being waged by Putin’s wealthy cronies and by privately owned companies like the Wagner Group and the Internet Research Agency, the St. Petersburg troll factory that allegedly meddled in the 2016 US presidential election. The IRA was one of three

It was a great job for a while,” Jim said with trademark understatement. For a while? At Jim’s salary, with the stock options still ahead of him, he was closing in on “pay off your parents’ mortgage and start a foundation” territory. What more could one person possibly want from a job? Well, for Jim Koch, it wasn’t about more; it was about different. In the beginning at BCG, Jim was being paid to learn about business strategy, product categories, organizational issues, and business problems. But once he entered management, his job became . . . well . . . boring. He was selling BCG’s services rather than diving into problems and finding solutions. “The learning stopped,” he said. “And then I had this epiphany. I asked myself, ‘Do I want to do this the rest of my life?’ And the answer came back: ‘No.’ And the corollary to that was, ‘Well, if I don’t want to do it for the rest of my life, I probably don’t want to do it tomorrow.

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Understandably, given public anger at bailouts, support had been gathering from both the right and the left for breaking up the largest institutions. There were also calls to reinstate the Depression-era Glass-Steagall law, which Congress had repealed in 1999. Glass-Steagall had prohibited the combination within a single firm of commercial banking (mortgage and business lending, for example) and investment banking (such as bond underwriting). The repeal of Glass-Steagall had opened the door to the creation of “financial supermarkets,” large and complex firms that offered both commercial and investment banking services. The lack of a new Glass-Steagall provision in the administration’s plan seemed to me particularly easy to defend. A Glass-Steagall–type statute would have offered little benefit during the crisis—and in fact would have prevented the acquisition of Bear Stearns by JPMorgan and of Merrill Lynch by Bank of America, steps that helped stabilize the two endangered investment banks. More importantly, most of the institutions that became emblematic of the crisis would have faced similar problems even if Glass-Steagall had remained in effect. Wachovia and Washington Mutual, by and large, got into trouble the same way banks had gotten into trouble for generations—by making bad loans. On the other hand, Bear Stearns and Lehman Brothers were traditional Wall Street investment firms with minimal involvement in commercial banking. Glass-Steagall would not have meaningfully changed the permissible activities of any of these firms. An exception, perhaps, was Citigroup—the banking, securities, and insurance conglomerate whose formation in 1998 had lent impetus to the repeal of Glass-Steagall. With that law still in place, Citi likely could not have become as large and complex as it did. I agreed with the administration’s decision not to revive Glass-Steagall. The decision not to propose breaking up some of the largest institutions seemed to me a closer call. The truth is that we don’t have a very good understanding of the economic benefits of size in banking. No doubt, the largest firms’ profitability is enhanced to some degree by their political influence and markets’ perception that the government will protect them from collapse, which gives them an advantage over smaller firms. And a firm’s size contributes to the risk that it poses to the financial system. But surely size also has a positive economic value—for example, in the ability of a large firm to offer a wide range of services or to operate at sufficient scale to efficiently serve global nonfinancial companies. Arbitrary limits on size would risk destroying that economic value while sending jobs and profits to foreign competitors. Moreover, the size of a financial firm is far from the only factor that determines whether it poses a systemic risk. For example, Bear Stearns, which was only a quarter the size of the firm that acquired it, JPMorgan Chase, wasn’t too big to fail; it was too interconnected to fail. And severe financial crises can occur even when most financial institutions are small.

So Medtronic adjusted not only its marketing efforts, but also the services it provided to directly target potential patients. For example, in conjunction with local cardiologists, Medtronic organized heart-health screening clinics across the country—providing prospective patients with free, direct access to specialists and high-tech equipment without having to go through an overwhelmed GP first. The question of paying for a pacemaker and the attendant medical services was no small concern. So Medtronic created a loan program to help patients pay for the pacemaker procedure. The company initially assumed that patients might be drawn to loans that actually expired upon the patient’s death, so that they were not saddling the family with the burden of debt—the emotional and social component of their Job to Be Done. And, as the Medtronic team learned from patients themselves, that was what they often wanted. But friends and family wanted something different: they tended to rally around a patient to find the money necessary. In those cases, the patient was more likely simply to need a bridge loan until those funds could be gathered. Medtronic made sure that the loan process was not daunting for the family: a loan is typically approved within two days, requiring minimum paperwork and entailing no asset mortgage. The experience of navigating the complex web of health care in India could be overwhelming for both patients and their families. So the company began to work with local hospitals to create a patient counselor role, initially calling them “Sherpas,” that helped patients navigate the often mind-boggling bureaucracy of a hospital, keeping their procedure and aftercare as top priorities. The patient counselor role became so popular that hospitals asked if the company would allow patients obtaining pacemakers through traditional routes to seek assistance from a counselor, too. Seeing an opportunity to further identify Jobs to Be Done from within the hospital system, Medtronic jumped at the chance. “At the end of the day, we realized the role was such an important position, we adjusted the role. And we were OK with it,” Monson recalls. “It ingrained the value of that person into the entire hospital system, and thus our business model. And it made us the partner of choice. To me that was a clear example of hitting a Job to Be Done.” The first Medtronic pacemaker distributed through the Healthy Heart for All (HHFA) program in India was implanted in late 2010. Medtronic currently has partnerships with more than one hundred hospitals in thirty cities. India is considered to be one of the most high-potential growth markets for the company.

In any event, today it is still money that gives birth to the ten thousand things. Whatever you want to build in this world, you start with an investment, with money. And then, when you have finished your project, it is time to sell it. All things come from money; all things return to money. Money is therefore not only a universal aim; it is a universal means as well, and indeed it is largely because it is a universal means that it is also a universal end, of which one can never have too much. Or at least, that is how we perceive it. Many times I've been witness to discussions about creating an intentional community or launching some other project, only for it to end with a disheartening admission that it will never happen because, "Where are we going to get the money?" Money is quite understandably seen as the crucial factor in determining what we can create: after all, it can buy virtually any good, can induce people to perform virtually any service. "Everything has its price." Money can even, it seems, purchase intangibles such as social status, political power, and divine goodwill (or if not that, at least the favor of religious authorities, which is the next best thing). We are quite accustomed to seeing money as the key to the fulfillment of all our desires. How many dreams do you have that you assume you could fulfill if only (and only if) you had the money? Thus we mortgage our dreams to money, turning it from means to end.

At the beginning of every month, homeowners send mortgage payments to their bank or mortgage servicing agent. Many of these mortgage payments are either securitized or guaranteed by Fannie Mae, Ginnie Mae, or Freddie Mac – the GSEs, or Government Sponsored Enterprises. That means billions of dollars of mortgage principal and interest payments are being collected by the GSEs at the beginning of the month and paid to bondholders later in the month. During the period of the time between payments, the GSEs invest a substantial amount of cash straight into the Repo market.

wearable tech, mortgage sales, robotics, credit monitoring, online payment, game streaming, dating apps, social content aggregators, predictive software, genome kits, health apps, fitness trackers, synthetic media, cloud computing, therapeutics – the full Bezos. Oh, they also own, like, a few hundred daily newspapers – local, national, foreign. And they just spun up a film and TV studio which sounds like a big expense but it’s really just a rounding error slash loss leader to open up markets like India, China, and Slovakia for delivering toasters and selling digital storage and all their other services. So, you ask yourself, what do all these ventures