So Mote It Be.... ?

That they have eyes yet do not see ......






 Consider the following .



 You purchase a house for $300,000 at 7.5 % interest on a 30 year fixed loan.

• Every month your mortgage is $2,097.64
• Interest paid to the lender on the first payment - $ 1,875 : amount paid to reduce the outstanding principal - $222.64.
• Total interest received by the lender from YOU at the end of 30 years - $455,151.67.

The breakdown after 5 YEARS :

• interest paid to lender - $109,710.92
• amount of principal reduced ( which is the same as saying " value of equity " ) -$16,147.69
• This reduction amounts to  equity of approximately 5 %.
• remaining principal - $283,852.31

 If you were the homewoner in this case , would the lender allow you to refinance after 5 years?
  If so , bear in mind all the fees associated such as title insurance to name just one.

  Throughout this economic downturn EVEN prior to such , lenders have been reaping what I consider HEINOUS profits at your expense.

 What's one to do , to level the playing field ?

 Perhaps ............ a ... mortgage modification ? ( ay ? )


 
 One doesn't have to modify at the threat of foreclosure or bankruptcy . One can be current and with persuasive motivation to the lender ,
A MORTGAGE CAN BE MODIFIED TO THE GREATER BENEFIT OF THE BORROWER.

                   ( if you don't mind ? )





 Let's review the figures from the top of the page.

•  monthly mortgage - $2,097.64
•  remaining principal after 5 years of payments - $ 283, 852.31

 In the fifth year, how about going to the lender to negotiate a modification to start at the beginning of year 6 by leaving the term intact yet changing the interest rate to 6.5 % and the principal to $283, 852.31? The following now occurs :

• monthly mortgage - $1,794.14
• monthly savings -   $303.50
• of the new monthly sum of $1,794.14 , $256.61 is the new amount each month going towards reducing the principal.

 Here is where my plot thickens !!!!

 Instead of paying the new monthly amount of $1,794.14 , you continue to pay the old figure of $2,097.64 FOR YEARS 6 TO 10 with the extra $303.50 separately designated towards reducing the principal !

                           MADNESS YOU SAY .......... RIGHT ?

Follow me :

• $283,852.31 @ 6.5 % from years 6 to 10 would give you $18,135.39 in principal paid off by itself.
• add the $303.50 per month for the years 6 to 10 , provides an additional $18,210.00
• therefor, in a 5 year span your reduction in principal is $36,345.39 instead of $18,135.39
• tack on the $36,345.39 to the $16,147.69 from the first 5 years and the grand total of reduced principal is $52,493.08 after 10 years with this " revised " payment plan.

 Had you kept paying the amount you were doing originally - $2,097.64 a month with 7.5 % on $300,000 , your reduction in principal after 10 years is $39,615.04.




                                     $52,493.08
                                   - $39,615.04
                                    ___________
                                     $12,878.04 more you've added in equity !





  Do your own research with these figures . Talk to an expert in the field of mortgage financing and have them crunch the numbers.

   Let's compare notes and discover whether this could TRULY be of benefit to all concened.


                                




 for the defining moment





 ( I remain )

  Appreciatively yours,

  Gavin St. Clair






                                     



    

Charlie Foxtrot

  It's been recently discovered that Cardinal Mahony used nearly $115 million dollars from the funds meant for maintenance of the grounds for the dearly departed to " assist " with the settlement payments the Church had to make to the victims of sexual abuse .


 The further travesty :

•  he did not tell the RELATIVES of the deceased he had taken the money ...and

• he and his aides said to various parish groups they had cashed in SUBSTANTIAL investments in order to help pay the $660 million settlement.

Whether you're Catholic or not...........


 Please weigh in on this .








Appreciatively yours ,

Gavin St. Clair

Quod Erat Demonstrandum....

  In our country's history , there was a time when studios made film shorts for the educational system with the goal to aid young people in reaching their potential to become productive citizens. These social guidance films were produced with the thought in mind to enhance even reinforce the advice children were receiving at home.

   No longer than 10 minutes ,these weren't done from the producer's point of view and actually had the collaboration of professors, sociologists and psychologists of the day.


 Some of the life lessons that made it to production were about developing traits such as : self-reliance or emotional balance. In one short , there was a boy who learned the value of setting high goals for himself : the more important lesson learned ( ! ) - through your expectations , don't put SO much pressure on yourself that you become emotionally upset during the times when you miss your goals.


  ******************************************************************************************************



  Consider the state of things now .....

 There's one tv program of note on cable that uses inmates in order to show where juveniles will end up if they don't develop a measure of self-restraint and self-reliance for their own good. This production , to the best of my knowledge ,  is COMPLETELY done by a filmmaker without any input from any professional well versed in the rehabilitation of felons or teachersw actively involved in the school system.


    What we can learn from the past by a concerted effort from all and sundry is time well spent ........



 For the future of our kids .
 ( Q.E.D. )


 For the defining moment


 Your comments , views , and opinions are most welcome.



 ( I remain )

 Respectfully yours,

 Gavin St. Clair


 





 

  

At What Price ?

 Just recently, the U.S. Secretary of Defense - Leon Panetta -  lifted the ban on women serving in ALL roles of the military.... provided they meet the qualifications.


 As you know .. when it comes to our vets who come home , some have had a hard time dealing with and being treated for PTSD . Physical injuries ? Prompt care and benefits . Mental issues from combat ? Not so fast.



 Has the D.O.D thoroughly improved their policies and procedures for handling this malady for our soldiers after they've given so much for you and me ?


 If not ? ..............


  I ' d like the thoughts and input from everyone viewing this .

 For the Defining Moment

 ( I remain )

 Respectfully yours ,

 Gavin St. Clair

Nota Bene

 Hello everyone ! This is my inaugural posting so .......... welcome !




 The title is Latin for " note well "  and I titled it this way so as to set in mind that this the foundation upon which much shall be expressed and shared with you and all my guests.

 To enoble..

 Enrich ...


 Enlighten... inspire..


 Even smile.


 So let's mark this event as your means.. gateway.. to channel your views and perspectives on topics dear to you and loved ones . Eh ?