Johnny Sanphillippo has never made more than $20,000 per year (he works as a housekeeper, as well as, a gardener and house painter), but he knew like “any other American” that he wanted to own his own home.
When he talked to bankers about qualifying for a home loan, “they look at you and their eyes glaze over and you realize, they’re going to give me a lollipop and send me home, which is pretty much what happened”. So he decided that if he went far enough away from his hometown of San Francisco he could find something he could afford to buy with cash.
He finally heard about a deal in Hawaii (back when oil was cheap and airline tickets were $99 from SFO) and for $3000 cash he bought himself an empty lot in a failed subdivision on the Big Island.
Without a loan, he knew he couldn’t afford to build a conventional home. He’d always loved tiny houses, but the permitting office wasn’t as enthusiastic about allowing him to build small. So he had plans drawn up for a conventionally-sized home, plus a 400 square foot garage. He just built the garage.
Once the inspectors signed off on his fully-equipped garage (which included a bathroom, utility sink, electricity, septic system and rainwater capture), he let them know he wasn’t planning on building the house. Then he set about swapping the garage door for sliding glass and the utility sink for a regular kitchen.
Instead of relying on a loan to buy a house up-front, he had to do it the slow way, in stops and starts as he worked to pay off he step of the process. First, he saved up for a foundation, then the shell, then septic, etcetera and today, 13 years later, the home is complete.
Original story & more info: http://faircompanies.com/videos/view/mortgage-free-tiny-home-on-a-housekeepers-salary/
Duration : 0:10:41
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Technorati Tags: debt, downsizing, green building, Hawaii, home payments, home size, house payments, loan-free, mortgage, mortgage-free, san francisco, simple living, simplicity, small home, small house movement, small space, tiny home, tiny home building permit, tiny house, Unemployment
This week Max Keiser and co-host, Stacy Herbert, talk about pirates and protesters and about ponzi schemes operated by Brooks Brothers Bolsheviks. In the second half of the show, Max Keiser interviews Michael W. Hudson about Countrywide’s role in the subprime mortgage fraud that Obama’s Justice Department refuses to prosecute.
KR on FB: http://www.facebook.com/KeiserReport
Duration : 0:25:40
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Greece strikes a deal on a new austerity program, a deal has been reached between the U.S. government and the nation’s five biggest mortgage lenders, and weekly jobless claims dropped to the lowest level in almost four years. Ashely Morrison reports.
Duration : 0:1:14
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Technorati Tags: ashley, austerity, Budget, claims, Crisis, cuts, deal, debt, Foreclosure, Greece, homeowners, jobless, lenders, moneywatch, morrison, mortgage, program, Weekly
HardTalk & Kyle Bass 2 of 2 on The Global Economy & Finance Situation – BBC Interview, recorded 15.11.2011 & Contemporary Related News Background
Kyle Bass is a hedge fund founder who saw the financial crisis coming and made a fortune from it – first from America’s sub-prime mortgage crisis and then from betting that Greece would default.
Mr Bass told Sarah Montague that Germany cannot be expected to bail out the PIIGS countries – Portugal, Ireland, Italy, Greece and Spain, and that only a massive write-down in those countries’ debts will solve the crisis. http://news.bbc.co.uk/2/hi/programmes/hardtalk/9639507.stm .
Duration : 0:20:36
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Technorati Tags: America, Archive, austerity, BBC Interview, BBC News HardTalk, bonds, Contemporary Related, debt, educational, EU, eurozone, Finance Economic Crisis, Finance Situation, Forecast, France, Germany, global economy, Greece, Hedgefund Insurance, Italy, Kyle Bass Interview, Markets:, News Background, News Politics, PIGS, Runi Toconillo, RuniEvents, stock, trading, USA
Learn about the 2 kinds of mortgage debt, points, and mortgage insurance premiums (PMI). Brought to you by The Tax Institute.
Duration : 0:2:22
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Technorati Tags: At Home, debt, H&R Block, HRB, institute, insurance, mortgage, mortgage loan, PMI, points, tax, taxes
The Stench of Truth radio show airs every Friday 7-9PM Eastern time on:
http://www.inceptionradionetwork.com
and
http://www.talkstreamlive.com
http://www.platformforthefuture.com
http://www.tenebroust-thestenchoftruth.blogspot.com
http://www.tenebroust-populistpolitics.blogspot.com
The Stench of Truth (493).mp4
Some background. It may seem like I focus on the republicans and the lunatic right a lot but I have and will continue to call out the democrats for their shill behavior. I was on Obama long before he was the democratic candidate in 2008. One need look at the campaign financing to see that both parties are paid by the same people. Look at Pelosi and Reid bith got big money from “healthcare industry” which is 99% health insurance companies that’s why we have the mis-named “Affordable Care Act” or Obamacare which is a bailout of insurance companies which are wedded to the banks and deep in the fraud of derivatives and the mortgage fiasco. Under it you are forced to pay too much for a crappy policy that doesn’t cover much. THE INSURANCE INDUSTRY IS THE BIGGEST COST FACTOR BY FAR IN THE WHOLE HEALTHCARE DEBATE. Get rid of them with single payer and you save hundreds of billions of dollars every year. Should the protesters be in Wall Street, Chicago, London to protest the banks or should they be protesting the FED? Wall Street and the banks of course. Why? Because how do you think it works? Do you think Ben and the boys call up JP Morgan and tell them what to do or is it the other way around? The banks are the problem. There is a multistate deal being floated right now which would absolve the banks of any wrongdoing in the mortgage fiasco that led to the depression we are in and the restitution amount is 20 Billion. That is a ludicrous joke. If they say 1 Trillion I’ll start to listen. Schneiderman the DA of NY has bowed out of those talks because he says he wants to air it out and chase the fraud. His office has already been attacked with the outing of a female employee that moonlighted as a dominatrix. If he is serious expect more of this activity against him. Don’t let the banks get away with the largest fraud, theft scheme in world history! For more proof that it is the banks just look at Europe and their so-called “sovereign debt crisis”. There is not a single country that has a debt crisis, they have a bank bailout crisis.
Duration : 0:16:17
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Mortgage Moments Vol 10. Do you have an ARM? Do you know when it adjusts? Do you know how high it can go? All these questions and more should have been explained when you got the loan. But too often, these explanations were not made or made so you understood them. Here the is what you should have been told and what you should be monitoring.
J Michael Seely conducts live seminars and webinars on “Demystifying Mortgage Loans”
His goal is to put you in charge of your most important financial asset…your real estate and the mortgage that supports your real estate. Learn how to save thousands when obtaining a loan and 10s of thousands over the life of a loan.
visit http://www.UnderstandingYourMortgage.com and learn just where you stand with your mortgage or purchase.
Thanks for watching.
Duration : 0:4:48
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Technorati Tags: ARM, Buy, debt, Estate, Expert, finance, house, Investments, loans, money, mortgage, Real, Refinance, sell
HardTalk & Kyle Bass 1 of 2 on The Global Economy & Finance Situation – BBC Interview, recorded 15.11.2011
Kyle Bass is a hedge fund founder who saw the financial crisis coming and made a fortune from it – first from America’s sub-prime mortgage crisis and then from betting that Greece would default.
Mr Bass told Sarah Montague that Germany cannot be expected to bail out the PIIGS countries – Portugal, Ireland, Italy, Greece and Spain, and that only a massive write-down in those countries’ debts will solve the crisis. http://news.bbc.co.uk/2/hi/programmes/hardtalk/9639507.stm .
Duration : 0:19:14
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Technorati Tags: America, Archive, austerity, BBC Interview, BBC News HardTalk, bonds, Contemporary Related, debt, educational, EU, eurozone, Finance Economic Crisis, Finance Situation, Forecast, France, Germany, global economy, Greece, Hedgefund Insurance, Italy, Kyle Bass Interview, Markets:, News Background, News Politics, PIGS, Runi Toconillo, RuniEvents, stock, trading, USA
HERE IS THE WEBSITE http://www.benlowrey.com/debt creditors in commerce winston shrout jack smith gordon hall brandon adams robert menard accepted for value A4v john harris commercial redemption free man on the land ben lowrey bashar john demartini zeitgeist fractional reserve money debt fiat alex jones prison planet info wars project camelot TPUC Tim Turner Sam Davis Douglas Riddle Vince Kahn cveitch charlie veitch divine natural positive canon veronica chapman sovereign republic self determination dean clifford
Duration : 1:53:41
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The subprime crisis impact timeline lists dates relevant to the creation of a United States housing bubble and the 2005 housing bubble burst (or market correction) and the subprime mortgage crisis which developed during 2007 and 2008. It includes United States enactment of government laws and regulations, as well as public and private actions which affected the housing industry and related banking and investment activity. It also notes details of important incidents in the United States, such as bankruptcies and takeovers, and information and statistics about relevant trends. For more information on reverberations of this crisis throughout the global financial system see Financial crisis of 2007–2010 or Global financial crisis of September–October 2008. Home sales continue to fall. The plunge in existing-home sales is the steepest since 1989. In Q1/2007, S&P/Case-Shiller house price index records first year-over-year decline in nationwide house prices since 1991. The subprime mortgage industry collapses, and a surge of foreclosure activity (twice as bad as 2006) and rising interest rates threaten to depress prices further as problems in the subprime markets spread to the near-prime and prime mortgage markets.
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Duration : 0:13:12
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