This Week in the Mortgage Industry

A little off topic here – Misguided Media Issues

   Well we have all by now heard the radio commercials advertising rates at 4.875% for 30 years with no fees.  How can they do this?  Well the answer is clear they can not do it unless you fit the prefect scenario.  What they do not tell you is in order to get a the loan they advertise you have to have a great fico score, great equity in the subject property, great debt to income ratio, not hits on you credit report in the past ten years, solid employment history and a loan amount between 375,000 and 417,000.  Needless to say most people will not fit into this box.  What the commercial did accomplish is that it made it possible for the company that paid for it got you to call them to see what they could do for you. 

  I have to ask why we the people do not demand more from the Media and all Politian’s.  Politian’s like to tell us they are going to help but they repeatedly fall short of telling us the details of how they are going to help and their actual actions are even less.  I have done several postings about the misguided Media and they have gotten many responses asking for details so less look at some statements within the last week. 

Obama – Obama makes a speech and in it he claims that he is going to help small business get loans.  That sounds great, now keep in mind sound bits are not sworn testimony.  What he failed to tell us is any of the loan details for the loans he is trying to help with.  Such as loan amounts, terms, guarantees and limitations.  So basically he told us what we wanted to hear and told us nothing at the same time.  Why is this acceptable?    

Gore – This man has got to be the biggest con man on the plant.  I voted for Gore over Bush and I am happy to say that now I am glad he did not get into office.  This man is making millions on “Global Warming” with no facts to back up his statements.  A man recently asked him about the scientific team that now states the facts do not support the claims of Global Warming and Gore’s response is childish at best.  Gore did not answer the man’s question but rather asked a question back, “do you think the polar bear’s are endangered?”  The man’s response was that the polar bear population is increasing for which Gore asked the same question again verbatim. 

  This is unbelievable that Gore can make the statements that he does and profit what he does while living a lifestyle that he tells everyone else not to do.  Has Gore reached Athlete status?  I would have to say without absolutely!  We all know that professional athlete’s cheat on their wives and sports reporters look the other way so they can continue to speak with the athlete in question.  No one will say it but we all know it true. 

  Gore recently said that 40% of the Antarctica ice has melted.  So where did it go?  Are we shipping ice to the Moon?  Selling it on the black market to aliens?  This is absurd!  The answer is clear and on line if anyone would bother to look it up and yes I am calling out the Media and anyone that believes in this Gore stuff.  I know the people that will tell me I am wrong will not spend the time to look anything us so here is so info from which to start from below.    

  While the news focus has been on the lowest ice extent since satellite monitoring began in 1979 for the Arctic, the Southern Hemisphere (Antarctica) has quietly set a new record for most ice extent since 1979.

 This can be seen on this graphic from this University of Illinois site The Cryosphere Today, which updated snow and ice extent for both hemispheres daily. The Southern Hemispheric areal coverage is the highest in the satellite record, just beating out 1995, 2001, 2005 and 2006. Since 1979, the trend has been up for the total Antarctic ice extent.

 While the Antarctic Peninsula area has warmed in recent years and ice near it diminished during the Southern Hemisphere summer, the interior of Antarctica has been colder and ice elsewhere has been more extensive and longer lasting, which explains the increase in total extent. This dichotomy was shown in this World Climate Report blog posted recently with a similar tale told in this paper by Ohio State Researcher David Bromwich, who agreed “It’s hard to see a global warming signal from the mainland of Antarctica right now”. 

 Indeed, according the NASA GISS data, the South Pole winter (June/July/August) has cooled about 1 degree F since 1957 and the coldest year was 2004.

 This winter has been an especially harsh one in the Southern Hemisphere with cold and snow records set in Australia, South America and Africa. We will have recap on this hard winter shortly.  See full story here.

  The system is not perfect and the flees come with the dog but people please do not follow your leaders, the media or even your pressuring friends into financial demises.

Stay Tuned…

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