Sunday, March 07, 2004

Adjustable Rate Mortgages Erroneously Dissed

Atrios, in a post titled “Has He Gone Insane?," states that he is a ”...little scared.  More than a little scared, actually.” What is he scared of?  Well, he’s scared because Alan Greenspan has recently stated that borrowers showed opt for adjustable rate mortgages (ARMs) rather than fixed rate mortgages (FRMs).  Atrios’ post points to a Bill Fleckenstein article at MSN Money titled “Don’t take mortgage advice from Alan Greenspan." Fleckenstein alludes that Greenspan’s advice to opt for an ARM is "reckless behavior."

Let’s consider this.  I, at one time, was part owner of a mortgage corporation and I have over 13 years of experience in this industry.  I have assisted over 2,000 individuals in financing their home, so I have a bit of expertise in this field.

A 30 year fixed rate mortgage interest rate today is running right about 5.25%.  If you mortgage $100,000.00, at this rate, your payment, principal and interest, would be $552.20 per month.  Not bad.  If you remained in the home for 5 years and then sold, you would have paid out $33,132.22 during that time.  Nice, safe mortgage.

A 1 year adjustable rate mortgage interest rate today is running right about 3.125%.  The 1 year ARM has what they call 2/6 caps.  This means the rate cannot increase more than 2% per year and no more than 6% over the life of the loan.  Thus the highest rate the 1 year ARM could increase to is 9.125%.  If you mortgage $100,000.00, at the rate of 3.125%, your payment, principal and interest, would be $428.38 per month.  Not bad.  In the first 12 months the total of those payments would be $5,140.51.  Let’s assume worst case scenario and the interest on this ARM goes up for months 13 - 24.  That means for the next 12 months the interest rate would be 5.125% and the payment would be $544.49 per month.  12 months of payments at that rate comes to $6,533.84.  Once again, let’s assume that the rate increase 2%, the max, for months 25 - 26.  That means the rate would go from 5.125% to 7.125%.  The payment also would increase to $673.72 per month.  12 months of payments at that rate comes to $8,084.62.  Once again let’s assume that the rate increases 2% for months 37 - 48.  That means the rate is now 9.125%.  The monthly payment also increrases to $813.63.  12 months of payments at this rate comes to $9,763.60.  Let’s assume that the rate does not change for months 49 - 60, that it remains at its maximum level for the fifth year, but remember, it could come down.  In the 5th year then, the payment would remain at the 4th year rate of 9.125% and the payment would also remain at 813.63 per month.  12 months of payments would then equal, once again, $9,763.60. 

Now let’s total that up.  Over 5 years, considering the worst case scenario for the ARM of 2% increases each year to the max of 9.125%, the total paid out would come to $39,286.17.  So the difference in out of pocket monies between a 5.25% 30 year fixed rate mortgage and a 3.125% initial interest rate 1 year ARM is $6,152.95 over a five year period.  But remember, just because an ARM rate can increase doesn’t mean it will increase.

So, there is a risk to taking a adjustable rate mortgage but it is nothing to be “scared” about and they are not “reckless behavior.” Just because an adjustable rate mortgage has the ability to increase, rate wise, does not mean it will.  Adjustable rate mortgages can also decrease.

Atrios and Fleckenstein should maybe do the math before running recklessly scared down the street hollering about the end of the world.

Posted by John Venlet on 03/07 at 04:29 PM
(2) Comments • (0) Trackbacks • Permalink

Now Hear This

"The Passion” shows Jesus suffering and facing death with fortitude. Any decent human being would feel pity for an innocent man who is tortured and killed. And each of us will face suffering in our lives. But suffering is the exception and the world is not a vale of tears. We should plan and expect to achieve our values and goals. We should know that we have the power to understand the world around us and to use our knowledge, strength and fortitude to create the things that allow us to live and flourish: houses and skyscrapers; airplanes and rockets; medicine; works of art and the like. The essential fact about human life - the fact on which a morality of life should be based - is not the inevitability of suffering but the possibility of achievement.

Gibson’s film shows the depths of depravity to which humans can sink, and prompts deep reflection. But only a moral code of personal responsibility, not original sin; self-interest, not self-sacrifice; and achievement, not suffering; can avoid the dangers of moral relativism and intolerance, and ensure both personal happiness and a free society."

Bold added for reasons that should be self explanatory.

From Edward Hudgins’ review of The Passion.

Via Shawn Klein at the Ayn Rand Meta-Blog.

Posted by John Venlet on 03/07 at 03:25 PM
(2) Comments • (0) Trackbacks • Permalink

How Convenient for the Cops

“Rock Musician Crosby Arrested in New York."

"Authorities say the 62-year-old musician had forgotten his bag at the hotel after checking out, and a maid found the illegal items while searching the luggage for identification. Police were waiting for Crosby when he returned to pick up the bag."

Yeah right, I’ll bet the maid was searching the luggage for identification.

Posted by John Venlet on 03/07 at 02:59 PM
(0) Comments • (0) Trackbacks • Permalink

Time for a Shot of Ouzo?

“Greek Conservatives Sweep Socialists from Power" It’s a start.

Via Google News.

Posted by John Venlet on 03/07 at 02:55 PM
(0) Comments • (0) Trackbacks • Permalink

Caffeine Abuse

Yes folks, it’s been spotted, in the cornfields of Nebraska.

"The wake-me-up stimulant is a fact of life for most people, but caffeine abuse is something Gov. Johanns wants Nebraskans to think about."

Of course not all Nebraskans are overly concerned, as the following comment from Mike Jones, a bloodmobile driver, demonstrates.

"Coffee? I drink a lot of it,” Jones said. “I’ll drink a couple cups in the morning, and then I have my mugs. It’s never bothered my sleep or anything. I don’t think it really matters."

But, hey, what does Mike know?  He’s just a voter.  Let’s look at what Head Nanny of the state of Nebraska, Governor Mike Johanns has to say.

"Gov. Mike Johanns disagrees. In an effort to promote “awareness, detection and prevention of caffeine addiction in Nebraska,” Johanns issued a proclamation declaring March as Caffeine Awareness Month. According to a written statement sent by the Fraser Group, caffeine overdoses can lead to headaches, jitteriness, irritability, difficulties in concentration, mood swings and other maladies."

How much is this going to cost the taxpayers? 

And soon you could be hearing, “Psst, hey buddy, want to buy an espresso?  Meet me in the crop circle third field from the crick.”

The article which I linked via The Agitator.

Posted by John Venlet on 03/07 at 02:31 PM
(1) Comments • (0) Trackbacks • Permalink

All Out of Proportion

Being as my ISP was OOC this morning, the lovely Melis and I went to the theater.  We viewed The Passion. Interesting film.  I’d watch it again.  Mel did take some poetic license within the film, but what film maker does not?  For all the sadistic drum beaters out there, I counted, as I best I could, the beatings administered to the central figure in the film.  I counted 32 bastinado strikes, vigorously applied by Roman soldiers.  I counted 48, plus or minus, whip scourgings, even more vigorously applied, flaying the skin front and back, also applied by Roman soldiers.  I did not count the number of strikes adminstered on the walk to Golgotha, but I did notice that the types of whips utiliized were of a different style than the ones utilized to scourge.  More of a crowd control whip I’d say.  Meant to raise a welt, but not necessarily flay the skin.  In other words, it appeared to this viewer, quite realistic.  I then considered all I have read of punishment inflictions throughout history; The Medieval ages, the Roman empire, the British empire, the Catholic led Inquisition, the Nazi’s, the glorious states of socialism, Aztec human sacrifices, etcetera; and I was led to conclude that those who reviewed this film, and were only able to see sadism, facism, or anti-semitism didn’t go to the theater to view this film.  They went to the theater to ingratiate themselves to their adoring readers by writing scathing reviews, but they only ended up abasing themselves.

Posted by John Venlet on 03/07 at 01:13 PM
(1) Comments • (0) Trackbacks • Permalink

Saturday, March 06, 2004

What You Don't Learn Googling, Like I'm "Odious," and "anti-homosexual"

I don’t often Google myself up, but having a moment this afternoon I googled up improved clinch+john venlet.  Here’s what I found, or more specifically, an entry I found that piqued my interest.

"Dean’s World: Blogger Ugliness (Rosemary, the QOAE)
... I also hereby condemn the blogger John Venlet (of the blog known as “Improved
Clinch") for his despicable anti-homosexual statements, every bit as ...
42k - Mar 4, 2004"

When I espied that all I could think was, WTF, over.  So I hightailed it over to Dean’s World to see what I could learn.  When I clicked over to Dean’s place, I located the entry which the Google bot dug up. What I read, was a comment in a thread dealing with some commentary about a recent Acidman post.  The following comment was posted by Steve Malcom Anderson the Lesbian-worshipping gun-loving selfish aesthete in the thread associated with the post at Dean’s World.

"I also hereby condemn the blogger John Venlet (of the blog known as “Improved Clinch") for his despicable anti-homosexual statements, every bit as reprehensible as those of the racist referenced here, and justly exposed and damned by Arthur Silber (Light of Reason)."

WTF, over, again.  What did I do to piss Arthur off?  Well, over to Arthur’s I click and locate a post titled “REVELATIONS OF IGNORANCE AND BIGOTRY, AND SOME OSTENTATIOUS FAGGOTRY OF MY OWN"

I read the post and found that my odiousness has been unveiled by this entry wherein I criticize a Mark Fiore cartoon titled "The Gay Agenda."

Arthur, if I offended you, I apologize, right here, right now.  I must fault you in one regard though.  No where have I condemned homosexuals.  Find one post, either here or at my old blog, where I have condemned homosexuals.  I condemn many things; socialism, stupidity, following the party line, assholes, blind acceptance, irrationality, the government, etcetera; but I have NEVER condemned any individual following their own path.

Read the entries, start with my “odious” entry where I criticized the cartoon, then read Arthur’s post, and then condemn me if you will.

Posted by John Venlet on 03/06 at 02:36 PM
(1) Comments • (0) Trackbacks • Permalink

Viewable Silence

Chernobyl.  Many of us are familiar with the stories of this nuclear accident from reading the papers and watching the teevee news.  Via Billy Beck, you can take a photo tour of the “dead zone" with a Russian girl who, well, she says it best, I think.

"Motorcycling is a great hobby of mine, I ride all my life and I owned different bikes and I ended with big kawasaki zzr 1100 cc sport touring motorcycle, which also known as ZX-11. it fast like a bullet and comfortable for long trips. I travel a lot and one of my favorite destination lead through poisoned with radiation, so called Chernobyl “dead zone” It is 130kms from my home. Why favourite? because one can ride there for hours and not meet any single car and not to see any single soul. People left and nature is blooming, there are beautiful places, woods, lakes. There is no newly built roads, but those which left from 80th in fairly good condition."

Quite a unique experience. 

Posted by John Venlet on 03/06 at 08:08 AM
(0) Comments • (0) Trackbacks • Permalink

Should I Stay or Should I Go?

Arthur Silber is an intelligent individual.  His writing is clear, at times concise, and his interests are varied.  I recall when he first launched his blog, The Light of Reason, as I was one of the first individuals to link to him, and I also exhanged some interesting emails with Arthur.  The only complaint I have in regards to Arthur’s blogging is overly sensitive response to his readership or non-readership, as the case may be.  Arthur, your value, and the value of your contributions to the online world, are not tallied by your readers, unless you allow them to be your judges based on their responses, either in writing or contributions.  I titled this “Should I Stay or Should I Go” for based on the following.

Posted by Arthur on March 3rd, 2004.

"See you sometime. Whenever the spirit moves me again.

And this time, I will do my very best to make certain that it’s not any time in the near future. The disappointment hurts too much. Far, far too much. I don’t choose to experience it any longer."

Posted by Arthur on March 5th, 2004.

"In thinking about my great disappointment at the lack of response to my current series on “The Roots of Horror,” a reaction which I discussed briefly the other day, I remembered something I said to a few friends. On a couple of occasions, I remarked that I would feel very differently about continuing with this series, and with the blog, if I had a larger readership (say, on the order of 2,000 visitors a day), or if I were being paid for it.

I don’t see a substantial increase in readership happening too quickly—my ideas are far enough out of any “mainstream” you can think of to be a significant impediment to that goal—but it might be possible for me to make a bit of money at this. So, because I am an advocate of capitalism, I’ve decided to let the market decide."

I admire Arthur’s decision to let the market decide.  If indeed Arthur wants this to be his determining factor, the market, then I would paste ads all over the site and run a couple times of year cash raising athon ala Andrew Sullivan style.  If this does not support you, monetarily, let it go and pursue something else that is more profitable.

You are adding value Arthur.  Don’t rely too heavily on others praise, contributions or responses to realize this fact.  Though blogging can, at times, appear to be a popularity contest, you don’t have to participate in the contest to gain personal satisfaction, and popularity isn’t necessarily a good barometer of worth.

Posted by John Venlet on 03/06 at 07:45 AM
(2) Comments • (0) Trackbacks • Permalink

What the Market, or Should I Say the Government, Won't Bear

What is the value of your time, equipment, goodwill etc., if you have voluntarily provided services to a government organization, in this case a Sheriff’s department, and then find that the expense of your contribution needs to be offset by attempting to earn income?  I guess it may depend on who you know in government.  Even then it may not help you if you value your services too highly.

Patrick Arthur Richard has found out the hard way that his past voluntary contributions are not worth $300,000.00.  In fact, Richard’s has found out that his desire to earn income, for past voluntary contributions is extortion.

Qiwi Lisolet, at Catallarchy, has a few comments on the above and additional links on this story in a post titled “Take Down a Website, Go to Jail."

Posted by John Venlet on 03/06 at 07:24 AM
(1) Comments • (0) Trackbacks • Permalink

Voluntarily and Individually

Spc. David McCorkle has been serving in Iraq, and I thank him for his service.  But, the more laudatory aspect of McCorkle’s service in Iraq can be gleaned from the following statement.

"McCorkle went to speak to Yahya’s mother. She cried after he said he would support their family if Yahya returned to school."

Qualifies as an altruistic act, does it not?  It does.  What makes this act noteworthy though is that Spc. David McCorkle was not coerced to assist the young boy in this story, he voluntarily decided something should be done, and he acted on the need as an individual.

The complete story is here.

Thanks to McQ at Questions and Observations who linked to this story with a post titled “Heros come in all shapes and sizes."

Posted by John Venlet on 03/06 at 06:54 AM
(0) Comments • (0) Trackbacks • Permalink

Friday, March 05, 2004

A Public Service Announcement

“Think Condoms Make sex Safe?" The post is subtitled "Wake up and Smell the Lesions." The post was inspired by an article in NewsMax.com titled “In Your Face And Dangerously Wrong."

If you’re not willing to pay, keep it in your pants or don’t drop your drawers.  It’s up to you.

Posted by John Venlet on 03/05 at 12:06 PM
(0) Comments • (0) Trackbacks • Permalink

Delving Into the "Unio Mystica"

Interesting article in The Economist titled “A mystical union." From the article.

"In the first of what he hopes will be a series of experiments, Dr Beauregard and his doctoral student Vincent Paquette are recording electrical activity in the brains of seven Carmelite nuns through electrodes attached to their scalps. Their aim is to identify the brain processes underlying the Unio Mystica—the Christian notion of mystical union with God. The nuns (the researchers hope to recruit 15 in all) will also have their brains scanned using positron-emission tomography and functional magnetic-resonance imaging, the most powerful brain-imaging tools available."

Via Arts & Letters Daily.

Posted by John Venlet on 03/05 at 11:57 AM
(0) Comments • (0) Trackbacks • Permalink

Glimmers

How can individuals be encouraged to respect each other and eliminate a need for the state to be their nanny?  One distinct step would be to first respect yourself and your own thinking.  Here’s an interesting post from Richard Nikoley titled “A Unified Theory of Anarchy." Part of the catalyst for Richard’s piece was this Reason piece which I mentioned here.

Posted by John Venlet on 03/05 at 08:21 AM
(5) Comments • (0) Trackbacks • Permalink

What's the Difference?

Is there a difference in asking the state to pay for this or this?

First “this” link via Yahoo News, second “this” link via No Treason.

Posted by John Venlet on 03/05 at 08:08 AM
(15) Comments • (0) Trackbacks • Permalink
Page 13 of 16 pages « First  <  11 12 13 14 15 >  Last »