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This morning in a rally Obama makes a very interesting statement. In defending himself and denying that his plan is socialistic, he argues that he did not know when McCain and Palin decided that selfishness is a virtue.

Did you pick up on that? In Obama’s mind, by taxing the “rich” and giving to the “middle class” he somehow thinks he is giving charity. Those that oppose this are simply selfish!

This is getting just incredible! My family and I do all we can, when we can to help out others. We give as we have the opportunity and the ability. One of the greatest rewards in that giving is the sense of appreciation and gratitude from the person you are helping. It almost becomes addictive and makes you want to give more. That is what charity is all about. You are just as richly blessed as the one you bless.

However, in the Obama theory, the governement TAKES from those it deems has too much, the governement DECIDES who it is given to, and the recipeient feels that this is OWED to them instead of appreciating the gift. So when next month comes, they are still there with hands out waiting on what they DESERVE! And if you as an individual are against this, you are SELFISH!

This is not a defiinition of Charity that I am willing to accept. How about you? Do you feel this is Charity?

Please, rather than voting based on popularity, style, appearance, race, sex, outside pressure, party, media focus or any other absurd reason, be sure to cast your vote as someone that is informed about the candidates.

Some will say that relationships and associates do not matter. Some will say that experience or lack of it will not matter. Make up your own mind, but to do that you must explore these items. You must discover the nature of relationships, associations, and experience to determine which candidate will be the best to lead.

Your country is counting on you to make the right vote, not the popular or assumed. Only you can choose the right vote.

In politics, the term “Bradley Effect” has been thrown around quite a bit lately. The theory is that white people will claim to be in favor of voting for Obama, the black candidate, but will instead vote against Obama due to racial issues.

While I am sure there is a small percentage of whites that will say they support Obama yet vote against him due to race, I am also wondering about an idea that has had little to no talk. What about a reverse Bradley Effect?

Obama is the first African American candidate for US President that has ever had a real chance. Since his nomination the daily polls have been showing him up, meaning there is a good chance that Obama may come out the winner. However, I wonder if African American voters could create a reverse effect. Let me explain…

Voting based on skin color, regardless if it is “for” or “against” will happen on both sides of the racial fence. There will be whites voting against Obama and blacks voting for Obama simply because of his skin color.

So my question is this… what if there is a large group of black voters that don’t agree with Obama’s views at all, but are afraid of potential negative affects from the black community if they said they were not going to vote for him? Could this be possible? Could a black voter claim to be for Obama to prevent being called a “sell out” or something worse, yet vote for McCain in the polling booth when no one is looking? This would cause a similar effect showing the same inflated numbers, but the racial end would be black…

This is something I doubt we will ever know. If indeed Obama looses, I believe the Bradley Effect will be a great source of coversation for years to come. As I am sure the idea of white voters lying and changing thier vote will be debated,  I would just love to hear someone actually discuss a “reverse” affect of blacks claiming one things and doing another as a possiblity as well.

No Outrage? No Calls of Discrimination?

Al Sharpton? Jesse Jackson? Hell, Hillary Clinton even? Does this not bother you folks?

This disgrace definitely shows a real issue that plagues our country today. Americans scream and jump at the mere sign of racism, but sexism is no big deal. Think I am wrong? Then let me ask you… what would be dominating the news and media if this mannequin was the likeness of Obama?

If Obama were shown here instead of Palin, there would be a great cry of outrage! Al Sharpton and Jesse Jackson at a minimum would be holding major press conferences screaming about the injustice! But no word spoken here. I guess if the mannequin had a darker color to the skin, maybe then these characters would show their face. But I highly doubt that will ever happen, especially since the one being shown in the noose is currently running against the candidate of their choice.

Personally, I could care less about race or sex. I have grown up around racism and sexism and have seen the absolute evil it represents. I know that I am no better or worse than anyone else on this earth, regardless of race, sex, religion or background. So for me, the fact that this is not absolutely unacceptable and deplorable to the mainstream media and the liberal activists blows my mind! I am a white male and I find this unbelieveable!

The fact that someone would do this is almost as digusting as the fact that the ones that always cry foul when race appears to be an issue are silent!

Today I received an email from an account representative that the lender was dropping all stated income mortgage loans from their loan offerings. This is a further decline in the faith lenders have in stated income mortgage loans.

Sometimes referred to as the “liar’s loan”, stated mortgage loans have gotten a bit of a bad rep in my opinion. When stated income mortgages first came out, there was some major common sense involved in approving the loan. Usually the borrower would need to have very good credit and a solid history of making all their payments on time. Initially, stated income was designed to service the self employed borrower that would have difficulty in proving all their income. The challenge that faced self employed individuals was that the tax code allows a lot of opportunities to lower their taxable income, and most lenders use the taxable income to base thier decision on. So if a self employed borrower’s tax return reported a net taxable income of $18,000 yet they grossed $150,000 for the year, common sense would indicate they actually used more than $18,000 to live on.

However, since lenders went so far the other way and offered stated income mortgage loans to people with salaries and even fixed incomes, many people were using the stated income programs to buy more home than they could ever afford. They would bank on the home appreciating quickly and either refinancing or selling the home. Then when the bottom fell out, they were left holding a home that they could not afford and could not dump.

Stated income was such a small part of the mortgage and real estate boom, but since it was so easy to single out as a problem, lenders have run quickly from even the good stated income borrowers!

I hope stated income loans come back soon. The people that need this mortgage loan product currently are left underserved and there is certainly a viable market for the product. But until the media stops the gloom and doom, lenders will continue to shy away from all appearance of risk.

The Christian Science Monitor hosted an article about Colin Powell vs. Joe the Plumber and who is more relevant. I thought the questions and ideas were interesting. I then went on to read the respeonses and was blown away by the negative (almost “hate-mail”) type responses about Joe himself.

Joe Who? I don’t care who Joe is, or what he has or has not done. From my perspective, it is the response of the candidate that means the most to me.

For example: For someone that is currently unemployed and seeking employment in a very tight market, it is scary that Obama wants to tax the big money guys… the ones that decide to give the common guy a job. If Obama raises their taxes, 2 things will happen… 1. we (meaning all Americans) pay more for goods and services and 2. less jobs are created.

So the idea that Obama wants to “spread the wealth” scares me a bit.

I have always respected Colin Powell, but his reasons for choosing Obama confuse me. He mentions that Palin does not have the experience to act as President, but I think she has as much actual experience as Obama, the one stepping right into the role. So if the back up has too little experience, but it is basically the same as the starter for the other team, which team should be favored? This is a bit confusing why Obama’s lack of experience is ignored, while the Vice-Presidential candidate of Palin is focused…

I don’t like where the country is either. But I am not so ignorant to believe that the President makes it all happen. The Senate and House create a lot of the problems. Sure Bush has faltered in the end, but he has had some real jacka55es to deal with in Congress (for all 8 years actually).

Bottom line is this… stop attacking those that ask questions of the politicians. We SHOULD ask them questions and not just follow them blindly. Listen to the answers of the candidate. After all, Joe will go away soon back to oblivion, while we as Americans are stuck with our decision for at least the next 4 years! Listen to what the CANDIDATES say, not the ones asking the questions… whether Joe or media… The Candidate’s repsonses is what matter.

THERE IS NO MONEY TO LOAN!

THE SKY IS FALLING!

THE ECONOMY IS DEAD!

*cough* *cough*

Hold on a second.. I am trying to swallow this….

Folks, there is more than enough money for mortgage loans out there! The reason more mortgage loans are not being written right now is not because the money is gone… it’s because the buyers are gone! Applications for mortgages are way down, mostly due to fear!

And why are we full of fear? We should thank the news media for that! The panic headlines even have the White House panicing and now there is a $700 Billion “bailout” plan up for a second vote! Listening to the different talking heads, I hear about the reasons for this plan, but also am aware of all the other “stuff” being slipped into this bill! For example, Nancy Pelosi today brags that this new legislature has some great new features that will help energy and global warming, both which failed to pass last year. What in the world does that have to do with the bad mortgage debt on Wall Street? NOTHING!

True, property values across the country have fallen. Even the Charlotte area has seen a decrease in property values, although not by much! But right now is the absolutely BEST TIME TO BUY A HOME IN CHARLOTTE! Property values are lower and should rebound shortly while mortgage rates are still VERY LOW! And unless you just have the worst credit in the world, you can still get a mortgage!

Granted lenders have tightened up a bit on requirements. You will need better credit than over the past few years and you may need a little bit of money down. But that is not all bad. Lenders have gotten back to common sense.

So please, ignore the media’s claims that everything is failing and that you can’t find a mortgage. We have seen a gas shortage in Charlotte, but there is no shortage of mortgage funds available… just a shortage of buyers. Take advantage of the market and buy a home now!

Is the proposed Bail-out Plan good or bad for America?

Locally, we also wonder if this is good or bad for the Charlotte mortgage and real estate markets?

First let’s understand the problem and need for this plan.  I think there is a lot of confusion right now about who needs help, why they need it and who stands to gain from this plan.  I don’t profess to have all of this mess figured out but I can give a simple overview that might help the average homeowner understand what’s going on…

Banks are in trouble and if Banks are short on money they can’t lend money to the people who need it.  (home buyers, business start ups, etc…)  Banks are short on money because of too many bad loans.  Let me explain…

Banks lend money to home buyers to purchase a home.  The banks get their money back to continue lending by packaging the loan into a bond and selling it to investors.  The bond is guaranteed so even if the homeowner doesn’t make their payments the bond has to honored so in reality even though the bank got their money back to continue lending they are still on the hook for bad loans.  Foreclosed properties take time to sell, so if you have enough of them out there it can tie up the banks’ money and cause a big problem.  Even worse, since this credit crisis has become so well publicized investors stopped buying the bonds for the bad loan products a long time ago, so the banks with huge amounts of money tied up in these risky loans just have them sitting there on their books and can’t get their money back to keep lending. 

KEY - If banks don’t have money to lend, they can’t grow or make new profits and eventually will fold.  NO CASH = NO BANKS = NO LOANS = GREAT DEPRESSION! (we all would prefer to avoid this one!!)

Here is a practical example of how the bail-out can work…

“MEGA-BANK” has $40 Billion in bad loans.  The U.S. Government would pay them a certain discounted value to buy these bad loans.  Let’s say it is 65 cents on the dollar so to buy $40 Billion in loans the government only pays $26 Billion.  The government then can take its time with selling the loans, selling the foreclosed homes, collecting the payments, etc… The U.S. can even realize a profit on this deal if the right price is paid upfront.  “Mega Bank” writes down a loss of $14 Billion but frees up $26 Billion is cold hard cash!  This can at least get some of the biggest banks back in the game, lending money and doing business. 

Bill Gross, head of PIMCO (runs largest bond fund on earth), stated today on CNBC that according to his numbers the U.S. could end up making 6-8% profit on every dollar spent!  He said these numbers were conservative.  Bank in the 1980’s, the government stepped in to solve the savings and loan crisis and ended up making money in the end.  This would be similar except that in this case the government is not taking over debts but buying them.  The upfront price is the key to the U.S. taxpayer making or losing money on this deal long term.

Will this plan solve the problem?  No one knows the answer to that question over the long term.  There is a careful balance when it comes to credit.  Make getting a loan too hard, and the economy can shrink fast.  Make loans too easy (like what has happened here) and the whole credit system can fail.  We have to ensure the health of the lending system so there are banks to lend, but credit must be available at a reasonable level for homes and cars to sell.  This plan can and will get money flowing again, and at least for the short term that is a big win for the economy and the housing market!

This article written and submitted by Olan Carder

Additional thought: This will have an impact on the Charlotte mortgage and real estate markets. While we have seen a slow down in some areas, the Charlotte real estate market is still the strongest in the country. Now is the time to take advantage of low Charlotte mortgage rates and high Charlotte real estate inventory!

I found a few interesting websites today. These are government based websites with information about the mortgage industry. The first one is the blog of the Speaker of the House (Nancy Pelosi). I really did not know that there was such a blog and that a government sponsored website could be used for straight out political pandering and slamming of the other party. This really surprised me and in some ways saddened me.  Anyway… the second is a website for the Congressional Budget Office talking about the results of the new mortgage laws passed. Boring, yet interesting.

So here are some snippets…

I am not one to get too involved with Politics. As a registered Independent and Unaffiliated Voter, I have been frustrated with national politics for way too long. It has seemed that both parties have been all talk and totally consumed with looking out for their own party and own agenda.

When the Republicans took the House and Senate back several years ago, they promised sweeping changes. As Americans we voted them in because of that, only to be let down. Democrats are no better, opposing anything that wasn’t proposed by a Democrat regardless of how good an idea it might have been. So here we are many years later with a greater void in the middle with very few Republicans and Democrats willing to work together.

I have been watching the race this year because I too feel this year is especially important. Here are my thoughts so far:

• Obama is a great talker and gifted motivator. But this bothers me. Maybe its because of my time in sales, having been to quite a few seminars with motivational speakers that get you fired up. Normally, they play on your emotions, but give you very little to actually work on after they leave. Will Obama be that way? Does he talk a motivating talk with great energy, only to have little substance?
• McCain is an old politicain and one that tends to follow his own route. But my fear here is that he could alienate his own party and eventually become a lame duck if not careful. But my gut tells me that his intentions are sincere and that he has a true sense of loyalty to America. I don’t get the sense that he is running just to get the office. I think he is looking to serve.
• Biden simply bores me. I have no idea what this guy is about. So far he has been busy criticizing the Bush Administration, and while Bush has issues that will never be addressed properly, Obama and Biden are not running against Bush. And no political campaign will make me believe that.
• Palin surprised me. First of all, I had no idea who she was. And then I hear there are investigations surrounding her. But I figure the McCain camp has done their homework to ensure that what she has is worth the risk. What I didn’t expect was that she brought as much of the energy to the table that Obama has. She speaks of the same changes that Obama does. Yet, with her I get the sense that those changes are not going to result in handouts, but rather in opportunities for those willing to step out to give it a try.

This issues I see in this election are these:

• The Economy. We are in an economy that feels like a recession and there appears to be little light at the end of the tunnel. Finding a positive way to get that rolling again will be important. I do not think taxing the people or even businesses right now is prudent as we all need more money to work with, not less. So here I gotta think the Republicans have the advantage.
• Energy. I am so tired of hearing that we can’t drill our way out of this energy crisis. While I agree that we do need to move away from oil towards cleaner and better fuels and energy, we are not in any situation to just dump oil today or in the near future. I drive a car that requires gas. I don’t expect that over the next couple years I will be ready to buy the newest technology in cars that is without gas. So how do we dump this? Do the Democrats really expect that we can ignore today and only focus on tomorrow. Tomorrow only comes by getting through today… so we do need to drill AND pursue other resources.
• Iraq and the War on Terrorism. This is a frustration of mine. We dropped the ball in Afganistan to pursue Iraq. Should we be there? I don’t know for sure. What Sadam did to his people should have been addressed, but maybe timing was wrong. Either way, we are there now and must finish what has been started. To simply pull out now would create a disaster. If we pull out before Iraq is truely ready to take their own security measures, other countries such as Iran will come in. The we are screwed as we are way too dependent on the oil over there. (Side note. If Democrats want to pull out, why are they against drilling for oil here? Don’t they see the crucial handicap this would create for America?) In terms of the war, we need to finish Iraq strongly and then focus back on the War on Terror. In my humble opinion, we should do another surge to pretty much eliminate the threats in Iraq, quickly train them and then get out. That would be quick and decisive.
• Gay Marriage. As a Christian man, my beliefs do not support the marriage of homosexuals. That being said, I heard an interesting arguement that I can not shake. Marriage is a contract between two consenting adults. Sure, as a Christian I believe that marriage itself is ordained by God. But the legal aspect of the contract does make me wonder if we can regualte the sexes of those parties to the contract. Either way, I do feel that providing health care benefits should be extended to same sex parties if they are willing to pay the premiums. I feel that family rights should extend beyond the sexual nature of a partnership when both parties involved desire it. Whether you call it a “marriage” or not doesn’t really matter. But I am not for discriminating based on sexual preferences.
• Politics. Both parties are building their campaigns on change. And I sure as hell hope that politics finds some sort of change. I am tired of the politicians that seek power for themselves and thier own financial gain. In my opinion, politicians work for ME. So why do I feel like they are my boss? Something here is not right and it needs to get fixed. Let’s hope that no matter which party takes the Oval Office that we actually see politcial reform and an administration that is focused on working together to fix real issues that our country has to deal with. Otherwise, America is doomed to fall as its leaders seem to spend so much time in front of that vanity mirrior called TV.

With what I have seen so far and heard so far, I am encouraged that we might have a positive outcome in this election. While I am leaning in one direction right now, I am still listening. Neither side has directly addressed HOW they plan to do ANYTHING. But as for me, I tend to beleieve that Americans should be given every opportunity to make what they want out of life without the government telling them they can or can’t. I am also against handouts that only make people dependent on government. For those that are in that situation, its like being dependent on that foreign oil with no ability to drill for yourself and only dreams of some new technology in the distant future that will rescue you. I don’t wish that on any American.

How do you feel about this year’s politics? Tell me…