hopefulgc
07-13 09:56 PM
eligibility comes for having gained the requisite experience in another job.. not the current one.
One of the qualifying criteria for EB2 is 5 years of experience. Right????
If your I-485 application is stuck since July 2003 or prior, you are automatically EB2 by that rule. Are you not? You have been working for 5 years atleast.
The revised rule should be
EB2 eligibile = Anybody with experience on labor > 5 years (this would not impact current EB2 folks) or whose labor is older than 5 years (this will make EB3 folks happier).
Peace.
One of the qualifying criteria for EB2 is 5 years of experience. Right????
If your I-485 application is stuck since July 2003 or prior, you are automatically EB2 by that rule. Are you not? You have been working for 5 years atleast.
The revised rule should be
EB2 eligibile = Anybody with experience on labor > 5 years (this would not impact current EB2 folks) or whose labor is older than 5 years (this will make EB3 folks happier).
Peace.
wallpaper open office writer logo.
ArkBird
01-09 05:05 PM
so.. by your logic, Al qaeda has declared war on the United states (they did, OBL issued that declaration some time in the late 90s) civilians die in each war, so alqaeda had every right to kill civilians in 9/11?
Of course not! Intentional targeting of civilians is inexcusable and constitutes a war crime and we should never cease to protest it regardless if it is done by a primitive terrorist or from the comfort of an F-16.
American Army was not hiding in World Trade Center and launching rockets on the civilians in Saudi from there. There was absolutely no target of military importance in WTC. Civilians got killed in Gaza because terrorist were hiding among them.
Quit hiding among women and children and fight like man on battlefield.
Of course not! Intentional targeting of civilians is inexcusable and constitutes a war crime and we should never cease to protest it regardless if it is done by a primitive terrorist or from the comfort of an F-16.
American Army was not hiding in World Trade Center and launching rockets on the civilians in Saudi from there. There was absolutely no target of military importance in WTC. Civilians got killed in Gaza because terrorist were hiding among them.
Quit hiding among women and children and fight like man on battlefield.
senthil1
12-18 10:35 AM
Even if terrorism is accepted because someone in their family killed terrorists have to target those people who had killed their family members In what way a child from Bombay was reason for sufferings of Afghanistan or Kashmir? In my view Terrorism was spread by some leaders for their enrichment. You can see lifestyle of LET and other Terrorist group Leaders in Pakistan. They were living in big Mansions with bullet proof cars with multiple Wives at the same time the trained terrorists are killing the innocents at the same dying themselves.
be it Palestine, Iraq, Afghanistan Somalia,Darfur,Chechnya, Kashmir, Gujarat... everywhere muslims are killed for being muslims...noone goes to cuba,srilanka,north korea,zimbawe or whereever for watever reason...just imagine God forbid someone comes into your house, occupies it, kills your family, your brothers and sisters in front of you and kicks you out of your home and you are seeing no hope of justice... you wont stand outside your home sending flowers like munna bhai's gandhigiri.. trust me you will become a terrorist.
be it Palestine, Iraq, Afghanistan Somalia,Darfur,Chechnya, Kashmir, Gujarat... everywhere muslims are killed for being muslims...noone goes to cuba,srilanka,north korea,zimbawe or whereever for watever reason...just imagine God forbid someone comes into your house, occupies it, kills your family, your brothers and sisters in front of you and kicks you out of your home and you are seeing no hope of justice... you wont stand outside your home sending flowers like munna bhai's gandhigiri.. trust me you will become a terrorist.
2011 in OpenOffice Writer
nogc_noproblem
08-08 11:23 PM
Just ignore those useless weeds (who don�t know what �joke� means), not only in this thread, even in real life also.
They will neither be happy themselves nor like others having fun as well.
I am giving you green.
I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up:rolleyes:
They will neither be happy themselves nor like others having fun as well.
I am giving you green.
I also got a red dot for my joke:confused:. Never used any foul language. Comment left was "This type of "blonde jokes" or "sardar jokes" etc are not really suited for a skilled immigrant community forum." I don't understand why do people give Red dots even for jokes. The title of the theread is Ligthen Up:rolleyes:
more...
texcan
08-05 04:05 PM
Sorry , you can't hide your passive aggressiveness :)
AS I mentioned on other occasions this whole process is screwed up. it gets you worked up when some one compares this (PD recapture) to labor selling. IT IS NOT.
To answer what does one get by comparing the job duties : It gives a lot. It gives EB2 classification only to those who deserve it. I wish the rules are much stricter.So that those who can claim they are EB2 are really entitled to be EB2.
There is so much dirty laundry and not good to bring that in public. But if this law suite goes , it does not take very long to show how genuine some EB2s are.
I agree, I am no saint, i have my shortcomings; actually more than i would like.
My point is please listen to others folks, and be nice.
We really cant get anything done hereby arguing.
AS I mentioned on other occasions this whole process is screwed up. it gets you worked up when some one compares this (PD recapture) to labor selling. IT IS NOT.
To answer what does one get by comparing the job duties : It gives a lot. It gives EB2 classification only to those who deserve it. I wish the rules are much stricter.So that those who can claim they are EB2 are really entitled to be EB2.
There is so much dirty laundry and not good to bring that in public. But if this law suite goes , it does not take very long to show how genuine some EB2s are.
I agree, I am no saint, i have my shortcomings; actually more than i would like.
My point is please listen to others folks, and be nice.
We really cant get anything done hereby arguing.
GCBatman
01-06 12:42 PM
Discussion of non EB related issues should be stopped.
This form should be used for employment related immigration issues, end of discussion.
I have given you green for it.
I think we discuss these kind of news in IV. Don't you know that?
This form should be used for employment related immigration issues, end of discussion.
I have given you green for it.
I think we discuss these kind of news in IV. Don't you know that?
more...
GCBatman
01-06 04:53 PM
Hey guys,
If all the topics can be posted here and anyone can start any unrelated thread (No Offense to "Refugee_New" because there are others also who did the same in past and it looks like all the moderators are sleeping.)
So I am thinking of posting unrelated issue.
Here is the question?
I have to buy the tires for my car (15")
Which tires are best Michelin or Goodyear
Please no reds and sincere answers only.
Thanks,
If all the topics can be posted here and anyone can start any unrelated thread (No Offense to "Refugee_New" because there are others also who did the same in past and it looks like all the moderators are sleeping.)
So I am thinking of posting unrelated issue.
Here is the question?
I have to buy the tires for my car (15")
Which tires are best Michelin or Goodyear
Please no reds and sincere answers only.
Thanks,
2010 OpenOffice Writer Insert
desi3933
08-05 10:53 AM
Why should they?
So, you don't believe in helping others.
So, you don't believe in helping others.
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nogc_noproblem
08-05 01:14 PM
A man staggers into an emergency room with a concussion...
..., multiple bruises, two black eyes, and a five iron wrapped tightly around his throat. Naturally, the doctor asks him what a happened.
�Well, it was like this,� said the man. �I was having a quite round of golf with my wife when a at a difficult hole, we both sliced our balls into a pasture of cows. We went to look for them and while I was rooting around, I noticed one of the cows has something white in its rear end.�
I walked over and lifted up the tail, and sure enough, there was the gold ball with my wife�s monogram on it � stuck right in the middle of the Cow�s butt. That�s when I made my mistake.�
�What did you do?� asks the doctor.
�Well, I lifted the tail and yelled to my wife, Hey this looks like Yours!�
..., multiple bruises, two black eyes, and a five iron wrapped tightly around his throat. Naturally, the doctor asks him what a happened.
�Well, it was like this,� said the man. �I was having a quite round of golf with my wife when a at a difficult hole, we both sliced our balls into a pasture of cows. We went to look for them and while I was rooting around, I noticed one of the cows has something white in its rear end.�
I walked over and lifted up the tail, and sure enough, there was the gold ball with my wife�s monogram on it � stuck right in the middle of the Cow�s butt. That�s when I made my mistake.�
�What did you do?� asks the doctor.
�Well, I lifted the tail and yelled to my wife, Hey this looks like Yours!�
hair and Open Office Writer
Macaca
03-19 01:20 PM
New Congress, Same Obstacles for Democratic Lobbyists (http://www.washingtonpost.com/wp-dyn/content/article/2007/03/18/AR2007031801138.html), By Al Kamen, Monday, March 19, 2007
The Democrats' takeover of Congress had a lot of their interest groups -- labor, enviros, etc. -- elbowing ferociously for long-sought legislation for their constituents. The groups' lobbyists are feeling the pressure.
The National Air Traffic Controllers Association has been working hard to reopen contract bargaining with the Federal Aviation Administration -- it feels it got the short end in negotiations last year about work rules and pay -- and wants Congress to let it do so. But it's a tough go, NATCA President Patrick Forrey said in a March 10 "National Office Update."
"I can imagine how frustrat[ed] our membership must be that our language has not been enacted to date," Forrey wrote, "considering the tremendous amount of support in PAC dollars and campaign activity we invested into the election process." No doubt. Sounds like they've got a good consumer fraud case if they want to pursue it.
"For those who believe this should be a slam dunk," he said, "let me remind you that there are an incredible amount of organizations, associations, special interests and of course labor unions that have been subject[ed] to 12 years of bad government . . . the problem is, we are all competing against each other to get our separate issues corrected."
But the Washington office is working on it. "If you could be in my shoes and talk with these very supportive members," Forrey explained, "you'd have the opportunity to realize the difficulty in undoing something that falls in a long line of things that need undoing . . . that is why it's so difficult to get the total support" from the House leadership on "controversial bills" that might hurt passage of other bills.
But not to worry. "This past week has left us very encouraged about the progress we are making in securing a temporary legislative fix," he said, with Reps. James L. Oberstar (D-Minn.) and Jerry F. Costello (D-Ill.) having penned a joint letter to House Appropriations chair David Obey (D-Wis.) to put language in the Iraq war supplemental appropriations bill that would reopen contract negotiations.
"However, as of today," Forrey wrote, "we have not seen or been told of any language inserted" in the Iraq bill. "It appears that the final approval is going to have to come from Speaker Pelosi," he said, "so we are rounding up all of the support we can garner from" other members to get her "to give the nod."
(Last Thursday, the Appropriations Committee approved the bill without the language.)
The Democrats' takeover of Congress had a lot of their interest groups -- labor, enviros, etc. -- elbowing ferociously for long-sought legislation for their constituents. The groups' lobbyists are feeling the pressure.
The National Air Traffic Controllers Association has been working hard to reopen contract bargaining with the Federal Aviation Administration -- it feels it got the short end in negotiations last year about work rules and pay -- and wants Congress to let it do so. But it's a tough go, NATCA President Patrick Forrey said in a March 10 "National Office Update."
"I can imagine how frustrat[ed] our membership must be that our language has not been enacted to date," Forrey wrote, "considering the tremendous amount of support in PAC dollars and campaign activity we invested into the election process." No doubt. Sounds like they've got a good consumer fraud case if they want to pursue it.
"For those who believe this should be a slam dunk," he said, "let me remind you that there are an incredible amount of organizations, associations, special interests and of course labor unions that have been subject[ed] to 12 years of bad government . . . the problem is, we are all competing against each other to get our separate issues corrected."
But the Washington office is working on it. "If you could be in my shoes and talk with these very supportive members," Forrey explained, "you'd have the opportunity to realize the difficulty in undoing something that falls in a long line of things that need undoing . . . that is why it's so difficult to get the total support" from the House leadership on "controversial bills" that might hurt passage of other bills.
But not to worry. "This past week has left us very encouraged about the progress we are making in securing a temporary legislative fix," he said, with Reps. James L. Oberstar (D-Minn.) and Jerry F. Costello (D-Ill.) having penned a joint letter to House Appropriations chair David Obey (D-Wis.) to put language in the Iraq war supplemental appropriations bill that would reopen contract negotiations.
"However, as of today," Forrey wrote, "we have not seen or been told of any language inserted" in the Iraq bill. "It appears that the final approval is going to have to come from Speaker Pelosi," he said, "so we are rounding up all of the support we can garner from" other members to get her "to give the nod."
(Last Thursday, the Appropriations Committee approved the bill without the language.)
more...
prioritydate
09-27 06:55 PM
I wish Mc Cain to win this election. Republican party is good to India, pro-life, do not waste money and support same sex domestic partners. Their moral and cultural values are good. They do not increase taxes. Good for Industry.
I will support the party not the candidates. They are good for the security for the country. Terrorist are increased in all over the world. But no more attack on American soil. Clinton ignored the security of the country and we saw what happened. That time IT revolution happened. Not because of him the economic bubble occured. But it will happen, if any body is in power that time.
Do you what you are talking about? One more term for GOP is a disaster. McCain would do nothing but spending more money on Iraq. There is no policy for John McCain. His only aim to continue Iraq war for 4 more years, and if possible, another four more years. They DON'T support same sex marriages. Remember! they are conservatives for God's sake. Republican party is good for oil companies and big corporates. For normal people like us, and specially for an immigration community, it would be an irreversible damage.
I will support the party not the candidates. They are good for the security for the country. Terrorist are increased in all over the world. But no more attack on American soil. Clinton ignored the security of the country and we saw what happened. That time IT revolution happened. Not because of him the economic bubble occured. But it will happen, if any body is in power that time.
Do you what you are talking about? One more term for GOP is a disaster. McCain would do nothing but spending more money on Iraq. There is no policy for John McCain. His only aim to continue Iraq war for 4 more years, and if possible, another four more years. They DON'T support same sex marriages. Remember! they are conservatives for God's sake. Republican party is good for oil companies and big corporates. For normal people like us, and specially for an immigration community, it would be an irreversible damage.
hot Open Openoffice.org Writer
gcisadawg
12-22 03:53 PM
The demonstrators carried pictures of Jewish couple Rabbi Gavriel Holtzberg and wife Rivka, who were murdered by the terrorists during Mumbai attacks, with caption: "It is a crime to be a Jew?" The demonstration began with a silence observed for one minute to pay homage to the victims of Mumbai attacks and the police officers who were killed in the action.
Alright! Let us be adults. It is like Sri Lanka going all over and telling the world that LTTE is as lethal as Al Qaida and is a threat to US, UK, Israel and Europe. Although US and UK has declared them as terrorist organization, I think it was more because they had a hand in Rajiv Gandhi's assasination.
Agreed, LTTE is a terror org and their issue is Sinhalese treatment of Tamils.
(another example of the tyranny of the majority against minority) .
Lankans may be followers of Buddha but when it came to Tamils, they were far from being a Buddha and more like anti-buddha!
And Israel did the same thing too. It projected its conflict with Palestinians as part of Bush's global war on terror, the centre piece of which was a war-of-choice in Iraq. Russians tried to project their conflict in Chechnya as part of Global war on terror. Now Georgia is trying to project it as a victim. The line between aggressor and the victim is becoming increasingly blurred. That is the reason I believe, this issue is much more than black and white with a shade of Gray all over it. We can argue till the cows come home but until the countries understand the motivation of (any) enemy, the enemy is not going to be defeated.
Alright! Let us be adults. It is like Sri Lanka going all over and telling the world that LTTE is as lethal as Al Qaida and is a threat to US, UK, Israel and Europe. Although US and UK has declared them as terrorist organization, I think it was more because they had a hand in Rajiv Gandhi's assasination.
Agreed, LTTE is a terror org and their issue is Sinhalese treatment of Tamils.
(another example of the tyranny of the majority against minority) .
Lankans may be followers of Buddha but when it came to Tamils, they were far from being a Buddha and more like anti-buddha!
And Israel did the same thing too. It projected its conflict with Palestinians as part of Bush's global war on terror, the centre piece of which was a war-of-choice in Iraq. Russians tried to project their conflict in Chechnya as part of Global war on terror. Now Georgia is trying to project it as a victim. The line between aggressor and the victim is becoming increasingly blurred. That is the reason I believe, this issue is much more than black and white with a shade of Gray all over it. We can argue till the cows come home but until the countries understand the motivation of (any) enemy, the enemy is not going to be defeated.
more...
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gjoe
07-14 07:00 PM
If you can show that EB3 I from 2004 was approved in 2005 or 2006 you can challenge USCIS if you have a older PD, no matter if you filed your I485 at that time or not.
You have a strong case if you can prove that USCIS went about processing application and issuing GC in a disorderly fashion and due to that your application with a earlier priority date has not been processed.
My 2paisa here, Good Luck
You have a strong case if you can prove that USCIS went about processing application and issuing GC in a disorderly fashion and due to that your application with a earlier priority date has not been processed.
My 2paisa here, Good Luck
tattoo OpenOffice.org Writer
waitnwatch
05-31 05:56 PM
It's time he got some free counseling through his "Employee Assistance Program" for stress and anxiety. Somehow this guy comes out as comic - except it feels that he is about to have a nervous breakdown. By the way I wonder what FoxNews' take on legal immigration is. Some CNN folks move to Fox but I doubt whether Lou stands a chance.
By the way - Lou's turning out to be the biggest stress relief for us.
:D :D :D :D :D :D :D :D :D :D :D :D
By the way - Lou's turning out to be the biggest stress relief for us.
:D :D :D :D :D :D :D :D :D :D :D :D
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pictures open office writer logo.
gcbikari
08-11 02:53 PM
Keep more lessons coming...don't worry about the #2 that you forgot
Thought #2 was a dirty lesson and intentionally removed.
Thought #2 was a dirty lesson and intentionally removed.
dresses on Open Office Writer and
xyzgc
12-26 08:39 PM
Attacking Pakistan is a stupid idea.The hardcore hawks in Pak wants this only.
By war this side crores will die and that side crores will die. The Laskar e toiba will go to hiding in NWF and plan for next attack. India will be backward for 10 years and Pak will be backwards for 20 years.Do you want this ?
Don't attack Pak. It will be a failed state on its own. By war between us , China is going to gain.So, the people who want war with Pak by sitting comfortably in US, please think once again. It is not like going to picnic. It is life and death man.
America is failing in tackling terror in Iraq and Afganistan. Israel is failing in tackling the Hamas. Srilanka is failing with Tamil tigers.So tit for tat is not working. It will only aggrevate the problem.
Unless the fools in Pak understand the importance of real education and tolerance , they will go to drain .Now the whole world knows Pak is the culprit.They even disown their own citizen who got captured in Bombay attack.Such is the pathetic condition of proud muslim country .Shame !
My suggestion is ask US to attack Laskar e Toiba training facilities in Pak.[ Six americans and four isralies died in the Bombay attack. That is enough reason for America's attack.]
If US attacks Pak , the stupid people in Pak can't do anything. That way , Indian innocent jawans and common people will be spared.
Nobody is a war monger. Killing innocent Pakistanis is the worse crime. These are good people like us.
We want to attack terrorist camps.
Israel is a bad example. If Israeli don't counter-attack, they will cease to exist.
One attack will not kill the enemy. You must do it multiple times.
To think, US will take out LeT is a good idea but its not practical.
Nobody's gonna come to wipe your ass. You gotta do it yourself.
By war this side crores will die and that side crores will die. The Laskar e toiba will go to hiding in NWF and plan for next attack. India will be backward for 10 years and Pak will be backwards for 20 years.Do you want this ?
Don't attack Pak. It will be a failed state on its own. By war between us , China is going to gain.So, the people who want war with Pak by sitting comfortably in US, please think once again. It is not like going to picnic. It is life and death man.
America is failing in tackling terror in Iraq and Afganistan. Israel is failing in tackling the Hamas. Srilanka is failing with Tamil tigers.So tit for tat is not working. It will only aggrevate the problem.
Unless the fools in Pak understand the importance of real education and tolerance , they will go to drain .Now the whole world knows Pak is the culprit.They even disown their own citizen who got captured in Bombay attack.Such is the pathetic condition of proud muslim country .Shame !
My suggestion is ask US to attack Laskar e Toiba training facilities in Pak.[ Six americans and four isralies died in the Bombay attack. That is enough reason for America's attack.]
If US attacks Pak , the stupid people in Pak can't do anything. That way , Indian innocent jawans and common people will be spared.
Nobody is a war monger. Killing innocent Pakistanis is the worse crime. These are good people like us.
We want to attack terrorist camps.
Israel is a bad example. If Israeli don't counter-attack, they will cease to exist.
One attack will not kill the enemy. You must do it multiple times.
To think, US will take out LeT is a good idea but its not practical.
Nobody's gonna come to wipe your ass. You gotta do it yourself.
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makeup OpenOffice Writer with a
unitednations
03-25 07:10 PM
send it to info at immigrationvoice.org and we can upload it.
It is a known bug that we could not fix in the forum. Some members are unable to upload files.
sent.
It is a known bug that we could not fix in the forum. Some members are unable to upload files.
sent.
girlfriend 2011 OpenOffice 3.3.0
ampudhukode
08-08 09:06 PM
Dear Staff,
Due to the current financial situation Management has
decided to implement a scheme to put workers of 40
years of age on early retirement. This scheme will be
known as RAPE (Retire Aged People Early).
Persons selected to be RAPED can apply to management
to be eligible for the SHAFT scheme (Special Help
After Forced Termination) . Persons who have been
RAPED and SHAFTED will be reviewed under the SCREW
scheme (Scheme Covering Retired Early Workers).
Person may be RAPED once, SHAFTED twice and SCREWED as
many times as Management deems appropriate.
Persons who have been RAPED can only get AIDS
(Additional Income for Dependants or Spouse) or HERPES
(Half Earnings for Retired Personnel Early
Severance).
Obviously persons who have AIDS or HERPES will not be
SHAFTED or SCREWED any further by management. Persons
staying on will receive as much SHIT (Special High
Intensity Training) as possible. Management has
always prided itself on the amount of SHIT it gives
employees. Should you feel that you do not receive
enough SHIT, please bring to the attention of your
Supervisor. They have been trained to give you all
the SHIT you can handle.
Sincerely,
The Management
Due to the current financial situation Management has
decided to implement a scheme to put workers of 40
years of age on early retirement. This scheme will be
known as RAPE (Retire Aged People Early).
Persons selected to be RAPED can apply to management
to be eligible for the SHAFT scheme (Special Help
After Forced Termination) . Persons who have been
RAPED and SHAFTED will be reviewed under the SCREW
scheme (Scheme Covering Retired Early Workers).
Person may be RAPED once, SHAFTED twice and SCREWED as
many times as Management deems appropriate.
Persons who have been RAPED can only get AIDS
(Additional Income for Dependants or Spouse) or HERPES
(Half Earnings for Retired Personnel Early
Severance).
Obviously persons who have AIDS or HERPES will not be
SHAFTED or SCREWED any further by management. Persons
staying on will receive as much SHIT (Special High
Intensity Training) as possible. Management has
always prided itself on the amount of SHIT it gives
employees. Should you feel that you do not receive
enough SHIT, please bring to the attention of your
Supervisor. They have been trained to give you all
the SHIT you can handle.
Sincerely,
The Management
hairstyles 2011 open office writer logo.
chanduv23
04-13 03:03 PM
ok..never mind..I called the officer and informed that I don't have any such information and since it was taken over by a different company, I am not in a position to get it..so Officer seemed satisified but asked few other related questions..and it is good for now..
sigh..
Dear friend - looks like ur sugar levels are going up and down - hang in there. I think you will be fine. Thanks for sharing your experiences with people here.
sigh..
Dear friend - looks like ur sugar levels are going up and down - hang in there. I think you will be fine. Thanks for sharing your experiences with people here.
jung.lee
04-12 11:52 PM
:eek:I don't think it's good time to buy in CA.. Just wait for option ARM reset and market will drop more.
I agree with this statement!
See this chart?
http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg
Most of the higher priced properties purchased in 2003 - 2006 in the coastal areas of California were purchased using Option ARMs. I was talking to an acquaintance last week who was in the loan broking business in Orange County (had to switch careers since then) who told me that over 90% of several hundreds of loans that he was involved with were Option ARMs and very little 3% to no cash down.
He also said that all the loan guidelines are so strict now that a majority of those who took these dicey loans will not be able to refinance when the payments reset in the next 3-4 years.
As an example he said he knew someone who had bought a $750k house with 3% down ($22.5k), with an Option ARM at 2% interest only with negative amortization of unpaid interest (i.e. principal payment and a portion ofthe interest payment was "Optional" in the first 3 years). This interest even with today's low interest environment will reset to LIBOR (http://www.bloomberg.com/markets/rates/index.html)+ 3.75%. Furthermore, this will reset to a "fully amortizing loan", i.e. paying principal is no longer an option.
So can you imagine trying to refinance this house in two years, when it has declined say conservatively 20% in value down to $600k, and one still owes the full amount of $750k+ unpaid principal on the original loan? Right now lenders are asking for a minimum of 20% down and financing no more than 80% of current appraised value. In bubble markets such as ours in CA, they are asking to finance no more than 75% of appraised value in some cases. So all in all, these "homeowners" are pretty much screwed. Experienced observers are positing that there will be increase in foreclosures and walkaways.
For those who rented and saved, there will be lots of choices in the best areas. Just be patient!
I agree with this statement!
See this chart?
http://www.irvinehousingblog.com/wp-content/uploads/2007/04/adjustable-rate-mortgage-reset-schedule.jpg
Most of the higher priced properties purchased in 2003 - 2006 in the coastal areas of California were purchased using Option ARMs. I was talking to an acquaintance last week who was in the loan broking business in Orange County (had to switch careers since then) who told me that over 90% of several hundreds of loans that he was involved with were Option ARMs and very little 3% to no cash down.
He also said that all the loan guidelines are so strict now that a majority of those who took these dicey loans will not be able to refinance when the payments reset in the next 3-4 years.
As an example he said he knew someone who had bought a $750k house with 3% down ($22.5k), with an Option ARM at 2% interest only with negative amortization of unpaid interest (i.e. principal payment and a portion ofthe interest payment was "Optional" in the first 3 years). This interest even with today's low interest environment will reset to LIBOR (http://www.bloomberg.com/markets/rates/index.html)+ 3.75%. Furthermore, this will reset to a "fully amortizing loan", i.e. paying principal is no longer an option.
So can you imagine trying to refinance this house in two years, when it has declined say conservatively 20% in value down to $600k, and one still owes the full amount of $750k+ unpaid principal on the original loan? Right now lenders are asking for a minimum of 20% down and financing no more than 80% of current appraised value. In bubble markets such as ours in CA, they are asking to finance no more than 75% of appraised value in some cases. So all in all, these "homeowners" are pretty much screwed. Experienced observers are positing that there will be increase in foreclosures and walkaways.
For those who rented and saved, there will be lots of choices in the best areas. Just be patient!
NeverEndingH1
12-17 02:32 PM
Marphad,
But none of their postings (jaspreetsinghgandhi & tabletpc) had your kind of religious-politics in it!
This is exactly why terrorist and their supporters like antulay are succeeding...
Ek aur double standard...
You definitely didn't think about server hard drive space and your most valuable time when you posted these:
Medical Insurance:
http://immigrationvoice.org/forum/showthread.php?p=221246#post221246
DOW is down - ha ha ha:
http://immigrationvoice.org/forum/showthread.php?p=186584#post186584
But none of their postings (jaspreetsinghgandhi & tabletpc) had your kind of religious-politics in it!
This is exactly why terrorist and their supporters like antulay are succeeding...
Ek aur double standard...
You definitely didn't think about server hard drive space and your most valuable time when you posted these:
Medical Insurance:
http://immigrationvoice.org/forum/showthread.php?p=221246#post221246
DOW is down - ha ha ha:
http://immigrationvoice.org/forum/showthread.php?p=186584#post186584
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