Legislators trying to grease the foreclosure machine

From the Star Ledger:

Foreclosure bills advance from N.J. Senate Economic Growth Committee

A pair of bills sponsored by Senate Economic Growth Committee Chairman Raymond J. Lesniak which would begin to address New Jersey’s foreclosure crisis by creating an expedited process for foreclosure on abandoned, dilapidated properties, and by creating a mechanism to transform abandoned properties to affordable and market-rate housing was approved by the committee yesterday.

The bills represent different aspects of S-1566, legislation Senator Lesniak introduced earlier this year which was vetoed by Governor Christie.

“I believe the governor should reconsider this important legislation and have streamlined the process to hopefully address his concerns,” said Senator Lesniak, D-Union. “The foreclosure crisis in New Jersey is driving down residential property values, causing urban and suburban blight, contributing to increased crime rates, and exacerbating itself by making homes surrounding an abandoned, dilapidated property all but unsellable. We need to take action on this crisis, and begin to turn foreclosed, abandoned properties into affordable homes for New Jersey’s middle class.

The first bill, S-2156, which was approved by a vote of 5-0, would establish an expedited foreclosure procedure for abandoned residential properties which have fallen into disrepair.

The second bill in the package, S-2157, which was approved by a vote of 3-2, would require the New Jersey Housing and Mortgage Finance Agency (HMFA) to facilitate and finance the purchase of foreclosed residential properties from institutional lenders, and dedicate such properties as affordable housing units or market-rate housing. The agency would be able to use its bonding authority – without recourse to the state – federal funds and funds from the State Affordable Housing Trust Fund to finance the purchase of foreclosed homes by for-profit and not-for profit corporations.

Some properties could be deed-restricted with the consent of the affected municipality, to be used as affordable housing. The bill would also create incentives for municipalities to transition abandoned properties to affordable housing on their own, giving them a 2-to-1 match against their affordable housing obligation for affordable units created from foreclosed properties using funds from municipal affordable housing trusts. Under estimates from the original bill, Senator Lesniak said this bill could result in over 10,000 new affordable and market-rate units and over 10,000 less unoccupied, boarded-up properties.

“This bill is at the core of the effort to mitigate New Jersey’s foreclosure crisis,” said Senator Lesniak. “It would create a legitimate mechanism to boost the number of available affordable housing units, it would create new market-rate housing, and it would do it while cleaning up blighted, abandoned properties within our municipalities. It doesn’t get any better than that.”

This entry was posted in Foreclosures, New Jersey Real Estate, Politics. Bookmark the permalink.

114 Responses to Legislators trying to grease the foreclosure machine

  1. grim says:

    From the Star Ledger:

    Editorial: Consolidation could yield property tax solutions for N.J. towns

    When it comes to property taxes, New Jersey taxpayers talk a good game but fail, over and over, to back it up.

    The latest examples are in Somerset County, where homeowners presumably think their property taxes are too high — but 17 of the 19 municipalities rejected plans for a countywide police force that would save millions of dollars apiece. The county recently gave up the plan — one-of-a-kind in New Jersey — when only Bound Brook and Manville showed interest.

    It looked bulletproof: Nineteen local departments combined into one police force, with five precincts and one chief. Savings were estimated at $44 million over the first decade. Probably more. The plan guaranteed more cops on the street and gave every town a vote. No current officers would be laid off or see their pay cut.

    What’s not to like?

    What scuttled this plan, insiders say, were old-time, home-rule turf wars.

    Somerset County’s small, wealthy towns feared patrols would concentrate on bigger municipalities with more crime. And those bigger municipalities worried that small-town cops wouldn’t understand their communities.

    Assemblyman Jack Ciattarelli (R-Somerset), the former freeholder who helped write the consolidation plan, blamed “small-mindedness, narrow-mindedness and even closed-mindedness.” Others have hit the same wall.

    There are rare bright spots.

    Last November, the Princetons agreed to merge after years of debate. Last week, state hearings got under way to study a Fanwood-Scotch Plains merger — the first citizen-driven consolidation.

    It’s all about property taxes.

    New Jersey’s, averaging $7,700 per home, are the highest in the nation. In polls, voters repeatedly rank property taxes as the state’s No. 1 problem.

  2. Pierre says:

    Random rant to follow

  3. Mike says:

    Good Morning New Jersey

  4. Mike says:

    After a long battle with Alzheimers we lost are Mom, hopefully there will be a treatment some day for this horrible disease

  5. freedy says:

    Valued at 210million. Best bid 25 million. Comp killer in Atlantic City.

    I guess the Casino Commission will continue on with its Strategy .

    AC is finished . http://online.wsj.com/article/SB10000872396390444318104577585432288024706.html

  6. morpheus says:

    sorry mike

  7. Comrade Nom Deplume says:

    Our condolences Mike. Know that she is at peace.

  8. Mikeinwaiting says:

    Mike tough road, my condolences.

  9. POS cape says:

    #1 Grim:

    “Somerset County’s small, wealthy towns feared patrols would concentrate on bigger municipalities with more crime.”

    So what is the Camden equivalent in Somerset?

  10. Jill says:

    Sorry about your loss, Mike. I used to work for a place that did Alzheimer’s research…but the pace is agonizingly slow.

    Not to hijack my thoughts for your family with politics, but research such as this is on the Paul Ryan hit list. Just something to think about.

  11. Painhrtz - Yossarian says:

    Mike Sorry for your loss know a few folks whose parents have Alzheimers it is a tough disease.

    Jill really do you know how much money the Alzheimers foundation rakes in each year the research wil continue just not government funded. Funny thing about scientists every one of us wants to Be PAsteur or Salk and get their names in the history books. Don’t underestimate the vanity of someone in their chosen profession.

  12. reinvestor101 says:

    My condolences Mike. I just lost my own Father a few weeks back due to dementia and other health issues. Dealing with these sorts of things is never easy, but consider yourself blessed if you had your mom around during the critical periods of your life while growing up.

  13. soutwin says:

    # 5 Freedy ….you got to wonder how many of the bonds our state pension hold ?….http://www.bloomberg.com/news/2012-08-09/atlantic-city-mall-sparks-macabre-fascination-in-cmbs-market.html

  14. 3B says:

    #4 My condolences on your loss. Lost my Dad last month. It is a tough time to go through.

  15. 3B says:

    Jill (From yesterday) Nothing better than a B&W crumb cake!!!

  16. Brian says:

    Mike, I’m sorry for your loss. We missed you on the board here buddy.

    I wish the best to you and your family during this difficult time.

  17. raging bull jj says:

    Mike sorry for your loss, losing a Mom is the worst

  18. Anon E. Moose says:

    Very sorry for your loss, Mike. My wife’s aunt just passed last month from the same affliction. Though hardly a shock, it was still painful.

  19. Brian says:

    Consolidation is the property tax solution that will never be implemented. I’ve given up hope on it. The only way for it to work is for small municipalities to be forced into it. I just don’t see that happening.

    1.grim says:
    August 13, 2012 at 6:27 am
    From the Star Ledger:

    Editorial: Consolidation could yield property tax solutions for N.J. towns

  20. Anon E. Moose says:

    Freedy [5];

    AC isn’t a real estate problem, but an exclusivity problem. Once surrounding states overcame their view of casino gambling as some devil in a bottle that could only be let out in one or two far-flung locales, the jig was up.

  21. raging bull jj says:

    Let me tell you a funny realtor story. So I put a low offer in on a house that might make a good investment. Was on market two years and realtor told me owner is 52, a spinster, mother is getting older and sicker and she wants to sell to move in with Mom to take care of her. She is getting more motivated as mom is only getting older.

    So list price is 445K, has been that price for nine months. So I offer 360K, non-contingent on a mortgage but want an inspection. Women counters at 445K. Realtor then asks what my counter is. I said I am not interested in countering. Does she expect me to play a game with her, I go up 10K and she goes down 10K and we meet in middle at 402,500. I said I am not interested in playing games. She then said well she wants a certain price and you want to pay a certain price so I am trying to make both of you happy. I told her it is 100% irrelevant what I want to pay or what she wants to sell it at. What bearing does that have? I said look if IBM stock was trading at 100 and I wanted to pay 90 and a seller want to get 120 no deal is getting done. I said I want to pay a little less than fair market value of house. You told me lady needs to get out. She should take 10k-20K discount get a solid as is offer and sell. You have a case of she dont need to sell and I dont need to buy. I am looking for motivated buyers who need to sell. She then said she is not a motivated seller, she is not a short sale, she is not an REO, she is not a divorce or estate sale so she does not have to value price. I then say well last two home sales on block was an REO and a short sale, she goes if you ignore then and compare her to non-distress sales at 435K she is 15K under non-distress sales. Sadly, last time a women sweet talked me into losing money I was 29 and she was wiping her chin from a bj she just gave me. At my age even the bj wont get me to spend. I told her well, she cant just sit on house till spring, it is a beach house and it is August 12. No one is coming her offering fair market price till March.

  22. Anon E. Moose says:

    Brian [19];

    I call the plan ‘merger by default’. One example comes from the church was active in where I just moved from. The population of this denomination was shrinking, all area churches were feeling it, some closer to the brink than others. One logical avenue to explore is merger, but many congregations, particularly those in worst shape, wouldn’t have it.

    So, continuing on their trajectory, they will wind down, go broke, sell off assets and close their doors; and the people who still there at the end will find another local church of the same denomination to attend — i.e., the churches will merge by default.

  23. Juice Box says:

    Mike sorry to hear about your mom, getting old is a part of life we all must face, in the end it is our family we need the most and take comfort in knowing it mattered that you were there for her.

  24. Juice Box says:

    re:# 21 – JJ – you should take a ride down the Jersey Shore, everything is for sale, and you can get out of that issue you were having with getting a mortgage for being too close to your primary residence.

  25. Juice Box says:

    Ochocinco must be trying to come and join the NY Jets or something. – Seriously who has an argument with their new wife in a Smart Car? You can’t even have sex in the thing.

  26. cobbler says:

    pain [11]
    Jill really do you know how much money the Alzheimers foundation rakes in each year the research wil continue just not government funded.

    Not to pi$$ on your parade, and especially on a sad occasion of a loved one’s passing away, but in 2010 (the latest ## available online) the Alzheimers foundation collected less than $4 Mln – which is about enough to support about 3 or 4 small research groups (PI, staff member, and a couple of postdocs each), and probably a hundred times less than currently spent by NIH. Will be enough for some good eutanasia research, though.
    http://www.alzfdn.org/AboutUs/FinancialInsert.pdf

  27. raging bull jj says:

    I got around geographic distance and insurance issue. However, now I decided I am only paying cash. Too much paper work with a mortgage. Since I have till Feb to pull trigger and still get a summer rental I am just focusing on lower priced estate sales, divorces, reos, short sales, homes with CO issues etc. Homes where a cash buyer who can close quick is an advantage to the seller. A full priced normal transaction the seller does not really care where financing is coming from.
    Mortgage rates being cheap is a myth. Best I get quoted on a vacation/investment home is 3.75 then I get a lot of closing costs, taxes and flood insurance requirements. In a distress sale I can get home for 3-10% cheaper in a cash deal. 3.75% sounds cheap but I also have a few hundred grand in muni bonds with 5% plus coupons that an be called. In next 12 months I will have a flood of cash coming in. Problem is the mortgage gives me more cash but I have huge interest rate risk at this point if I buy more bonds and if I sit in cash I earn zero. Rather sell riskiest junk bonds and a few munis trading above par to buy and lower my interest rate risk. Only downside is it boxes me into lower priced properties, but upside is being boxed in means I must serach harder for bargains.

    Juice Box says:
    August 13, 2012 at 9:54 am

    re:# 21 – JJ – you should take a ride down the Jersey Shore, everything is for sale, and you can get out of that issue you were having with getting a mortgage for being too close to your primary residence.

  28. chicagofinance says:

    Mike: my condolences

  29. Ernest Money says:

    Sorry for your loss, Mike.

  30. Anon E. Moose says:

    Bride Accused of Murdering Groom Hours Before Wedding

    Wow… How about that Pennsylvania. Good thing your bride doesn’t have the stress of a wedding to deal with, Nom. ;-)

    During her arraignment Saturday afternoon, Franklin told District Judge Donna Butler, “You got to check again,” unable to comprehend that Brewster was dead, the Allentown Morning Call reported. She cried, rocked herself back and forth and eventually choked out, “I … did … not … kill … him … on … purpose.”

    There was a james Carville quote describing Pennsylvania that seems apropriate here.

  31. yo says:

    My condolences,Mike

  32. Comrade Nom Deplume says:

    [31] moose,

    I saw that. Pennsyltucky. And Carville should talk; if there is any state more inbred than PA, its LA.

  33. Comrade Nom Deplume says:

    [27] raging bull,

    I probably will look at beach houses now, but I won’t look at NJ. Taxes, nexus with NJ, and renting to bennies just puts me off. I will probably look at Delaware or OC-MD.

  34. Comrade Nom Deplume says:

    [26] cobbler,

    Guidestar backs that up. Rare is the occasion I say you are correct but you are correct.

  35. Painhrtz - Yossarian says:

    Cobbler when I’m wrong I’m wrong. I stand corrected.

    Having navigated through the morass over at the NIH. I wonder how much of it goes to actual research.

  36. cobbler says:

    nom [35]
    We have meaningfully different political views, so no surprise you rarely agree with my opinions, except maybe about RE. Here we are talking about the audited numbers, hard to disagree…
    In general, charitable contributions (except for the highly politicized causes) can’t substitute steady government financing of fundamental R&D work. They also cause resource misallocation (trying to get max noise to attract more contributions) and cause direct damage (if you get non-profit money to find a link between the vaccines and autism, you’ll publish even the weakest evidence; if no peer-reviewed publication accepts it, you’ll put it on the web).

  37. NJCoast says:

    Mike sorry for your loss. Alzheimer’s takes a huge emotional, physical and financial toll on families. Hopefully you will all find peace after your long goodbye.

  38. NJCoast says:

    If I was JJ I could give you a very graphic and colorful account of went on backstage at the Jane’s Addiction concert last night, but I’m not so I won’t.

  39. cobbler says:

    pain [37]
    The problem with NIH grants is that universities’ bureaucracy grabs around half of the amount and uses it for whatever. However, this is the case with any other grants (from non-profits, private donors, etc.), and the issue is linked at the hip with everything else wrong with our higher education system. NIH itself has a fairly low overhead.

  40. raging bull jj says:

    Jane’s Addiction
    08/17/12 Time TBA

    with Die Antwoord

    Location

    Williamsburg Waterfront 50 Kent Avenue and North 12th Street Brooklyn, NY 11211

    pay with citi master card and get a discount

  41. Ernest Money says:

    It’s all coming down around us. Doom is imminent.

  42. Captain Sunshine says:

    Happiness and Rainbows straight ahead everyone!

    Everyday we are building a better tomorrow!

  43. scribe says:

    Mike,

    sorry for your loss

  44. njescapee says:

    My condolences Mike

  45. Ernest Money says:

    I just ran over Captain Sunshine’s dog.

  46. Essex says:

    42. Fun!!!

  47. Mike says:

    Thanks so much everyone for your kind words it means alot to me.

  48. All Hype says:

    Mike, sorry about your mom. Tough loss for sure.

  49. Libtard in the City says:

    Mike,

    Sorry.

  50. Ben says:

    Pain, I was on an NIH grant for 3 years. You’d be disgusted seeing as how much money gets wasted on salary. I’ve seen them fund millions of dollars to underqualified grad students only to watch them drop out. Usually, it all boils down to the head of the grant. I’ve seen professors do amazing research that clearly will yield profit 10 times over. Then, I’ve seen professors take all that money, and turn it into their little slush fund.

  51. chicagofinance says:

    clot: saw this bond come across my desk and thought of you….

    Memphis Sewer and Sanitation
    Revenue Bonds
    Aa3/AA Rated (Stable)
    100 Bonds Available, 25 minimum

  52. Painhrtz - Yossarian says:

    Ben did two years on NIH while in Grad school. I wholeheartedly agree with phds and docs using it as their own private slush fund. Then like you, I have seen some folks do some amazing work with the cash. In any regards government handing out money just does not line up with political views. Now if wwe could get everyone in the country to vote on it and we all agree I’d be all for it.

  53. thanks for posting such a nice article. people will be benefited for that. i am also helpfull for that. many important information are include in here.

  54. Comrade Nom Deplume says:

    [38] cobbler,

    All valid criticisms that do bleed over a bit into the tax side so I have heard them. IMHO, some stringency and best practices should be imposed on the sector. I think it appropriate because they enjoy a preferred tax status based on serving the public good, and there should be more emphasis on this good. Thus, it is a public trust because the public and gov are funding this sector, directly or not. The low hanging fruit of administrative abuse has been handled and now it is time to enforce meaningful mission requirements and audit controls; if a commercial business or a bank can be made responsible for its customers actions, why not a nonprofit for its grantees actions?

  55. raging bull jj says:

    When you think of sewerage you think of clot?

    chicagofinance says:
    August 13, 2012 at 2:26 pm

    clot: saw this bond come across my desk and thought of you….

    Memphis Sewer and Sanitation
    Revenue Bonds
    Aa3/AA Rated (Stable)
    100 Bonds Available, 25 minimum

  56. Comrade Nom Deplume says:

    [38] cobbler,

    Now back to our regularly scheduled disagreements.

  57. raging bull jj says:

    Average interest rate on 5-year CD falls below 1%
    August 13, 2012, 2:41 PM

    Here’s another blow to savers: The national average interest rate for five-year certificate of deposits dipped to a lowly 0.99% this week, the first time in recorded history that the hallmark of stability has slipped under 1%.

    “Interest rates are making history, but clearly not in a favorable way,” said Dan Geller, executive vice president of financial analysts Market Rates Insights.

    The five-year CD hit its high during the depths of the recession of the early 1980s when it touched above 20% in June 1981. In the last decade, the venerable five-year CD, known for its high returns and always-reliable payments, peaked at 6.25% in August of 2000 before beginning its steady downtrend.

    Other long-term rates are in worse shape. The four-year CD touched its lifetime trough at 0.78% this week while the three-year note now stands at a paltry 0.63%.

    Average the rates for all CD terms from three months to five years and the picture is darker still: at 0.46%, another record.

  58. grim says:

    Interesting piece out of Boston this morning..

    Bidding wars, 2012, a retrospective

    This spring, I spent a lot of time talking my clients off the ledge. They were annoyed and frustrated by bidding wars. They needed advice to determine which houses are likely to sell immediately, and which had seller’s agents who were playing games. Although there are still some bearish voices who growl that it is all made up – that there are no bidding wars and all prices are going down – those bears have not been out in the metro-Boston market.

    The biggest problem is that the supply of housing that matches current demand is low. There is a surplus of housing that does not suit current buyers. So, with uneven demand comes uneven prices. It is the high-demand housing that is sending buyers to the ledge. At the same time, there are run-down places and places in B, C or D locations that are sitting around waiting for some buyer demand. Buyers, with or without agents, have the task of knowing which kind of housing they are looking at.

  59. Comrade Nom Deplume says:

    [36] gator,

    I maybe from Massachusetts, but my name isn’t Romney.

  60. Comrade Nom Deplume says:

    [59]. JJ

    When I get to Pennsylvania, I’m going to take my money out of CD and put it into AR.

    That is is likely a better return on investment.

    Well, back to the salt mine.

  61. Comrade Nom Deplume says:

    Back on line alert:

    Another multi victim shooting, this time in Texas.

    I recommend investing in S&W and base metals (notably lead and brass).

  62. Comrade Nom Deplume says:

    More breaking news, this time for Money:

    Toon signs Vurnon Anita from the dutch.

  63. raging bull jj says:

    In weekend Olympic news, the United States beat Spain on Sunday to win the gold medal in Men’s Basketball. At the press conference which followed, Fed Chairman Ben Bernanke stole the show when he revealed that the Fed “is standing by and has all the tools necessary to obtain gold medals for each and every US Olympian” — provided that nobody cares if all the gold content is replaced with paper.

    Later Sunday evening, Former MF Global (MFGLQ) CEO Jon Corzine announced that he had officially won the Fed’s first “gold” medal — in the challenging and aggressively-competitive category of Creative Accounting.

  64. raging bull jj says:

    http://www.refrigeratorinfo.com/News/So-Long-Stainless-Whirlpool-Introduces-a-New-Finish-For-Premium-Kitchens.htm

    Stainless Appliances are now out of style. Cant wait to use this when I am bidding.

  65. Ernest Money says:

    chi (53)-

    Memphis pretty much is a sewer. Hard to find anything there that isn’t touched by shit.

  66. Ernest Money says:

    plume (64)-

    I still want Debuchy.

  67. Painhrtz - Yossarian says:

    JJ let me know when avacado and harvest gold come back in style.

    Sure it looks like an ipod but it is still a whirlpool

  68. The Original NJ ExPat says:

    Mike – Our condolences.

  69. Libtard in the City says:

    I personally think that white looks like a quick return to the late 50’s early 60’s. But what do I know. Will probably be madly popular.

  70. 3B says:

    Jill: If you see this, any thoughts on Hoover Street in WT? Thanks as always.

  71. grim says:

    White is the hot trend for kitchens right now, haven’t you heard?

    http://njrereport.com/blog/wp-content/uploads/2012/07/kitchen.jpg

    New white appliances are a response to this trend, specifically to provide an alternative to much more costly appliance panels (think sub-zero). Likewise, they may appeal to a segment looking for the higher-end contemporary kitchen look, but if you can afford those kinds of cabinets, you can probably afford the panels for the Liebherr.

    Jenn Air has something similar called “Floating Glass White”, they are actually glass front appliances that look pretty slick. They also do an oiled bronze that I don’t think has done very well. Viking will paint appliances any color you want, I saw them in bright orange and they looked fantastic.

    On another note, Harvest Gold made an appearance at a showing two weeks back. I think she’s aged well.

  72. raging bull jj says:

    I still cant wait till tell next seller I need 10K off as I have to rip out their outdated stainless steel apliances

    Painhrtz – Yossarian says:
    August 13, 2012 at 3:51 pm

    JJ let me know when avacado and harvest gold come back in style.

    Sure it looks like an ipod but it is still a whirlpool

  73. Juice Box says:

    Grim stop with the Kitchen pron you may have JJ show up at your door one day wanting to bang the fridge.

  74. grim says:

    72 – We were in the renovated listing on Hoover just the other day (474) Very nicely done, a bit over the top but the construction quality is very good. The layout is pretty poor, master is downstairs and the master bath is the main floor bath. Upstairs is very tight, 2 bedrooms up. The “4th” bedroom feels more like an office off the living room. Not a ton of privacy in the back yard. Nice place if you can get past the flow issues, especially if you aren’t looking for something massive.

  75. grim says:

    JJ let me know when avacado and harvest gold come back in style.

    Here you go, even better is that it’s a combination of the two…

    http://www.finecooking.com/assets/uploads/posts/981/051097030-04-jenn-air-bronze-appliances_lg.jpg

  76. Painhrtz - Yossarian says:

    Ahh Grim you never disappoint. Personally if I was going high end I would get my appliances powdercoated in kawasaki green. Can’t go out of style if it was never in.

  77. grim says:

    Here you go sir (it’s closer to the vintage color, vs the newer):

    http://www.countryliving.com/cm/countryliving/images/CLX020109_022_1_0-de.jpg

  78. 3B says:

    #76 grim: Not sure which one you are refering to. I am talking about the new listing at 349K.

  79. 3B says:

    #76 But thanks for the info on the other one.

  80. grim says:

    81 – Different one, up the street a block. New listing is an estate, no liens. No interior pictures on the MLS or history, but the listing says well maintained. Comp killer? Very close in size to your other listing.

  81. Painhrtz - Yossarian says:

    Well I guess I know better than to mess witha realtor who is also an IT professional. and +1 for knowing that putrid green wasn’t the original kawasaki color!

  82. grim says:

    A friend of mine owns a body shop and he’s custom painted a number of stainless appliances. I know he did a set of Vikings with HOK flaked out candy apple red to match the owners car (think 1970s bass boat).

  83. raging bull jj says:

    Here about the new German Oven?
    It seats six.

  84. Westjester says:

    It’s funny. I once owned a house that had a pull-out stainless cooktop and the oven was above the cooktop. It looked very dated.

  85. Ernest Money says:

    Soon enough, “custom appliances” will mean heating yourself next to a trashbin fire and cooking over a portable hibachi.

  86. Ernest Money says:

    Doom is imminent.

  87. Neanderthal Economist says:

    My condolences Mikey…

  88. houseshaveneeds says:

    #83 thanks grim. I am pretty confident I know what the other one went uc for. So this new one would have to be south of its 349k list price.

  89. Comrade Nom Deplume says:

    I know some of you toy with the idea of attending law school. Here’s the view from the bench (pages 7-11).

    http://media.oregonlive.com/business_impact/other/Aiken%20opinion%202.pdf

    The fact that this judge used an opinion to editorialize is not remarkable, but such editorials always make news.

  90. Comrade Nom Deplume says:

    [73] grim,

    I’m gonna get ahead of the curve—Avocado!!!

  91. Comrade Nom Deplume says:

    Suddenly, I’m not feeling so dirty for going back to dirty renting:

    http://www.sacbee.com/2012/08/12/4715349/what-are-some-lessons-of-the-housing.html

  92. chicagofinance says:

    Is this picture before or after the flood damage was fixed?

    grim says:
    August 13, 2012 at 4:07 pm
    White is the hot trend for kitchens right now, haven’t you heard?
    http://njrereport.com/blog/wp-content/uploads/2012/07/kitchen.jpg

  93. Comrade Nom Deplume says:

    As if Hollywood isn’t unoriginal enough . . . ..

    http://www.imdb.com/title/tt1234719/

    Invaded by North Korea???? Seriously???

  94. Grim says:

    99 – right before we threw the lawn chairs into the pool.

  95. Brian says:

    It was originally supposed to be that the US was invaded by China but they didn’t want to insult the people of one of their major markets. I think it was changed to NK at the last minute. So stupid.

    Comrade Nom Deplume says:
    August 13, 2012 at 7:01 pm
    As if Hollywood isn’t unoriginal enough . . . ..

    http://www.imdb.com/title/tt1234719/

    Invaded by North Korea???? Seriously???

  96. Comrade Nom Deplume says:

    [102] brian,

    The original was during the cold war and had some gravitas if you recall events during that time. The idea that we’d be invaded by the Hermit Kingdom is so ridiculous that I’d be laughing my ass off the entire movie.

  97. Ben says:

    Ben did two years on NIH while in Grad school. I wholeheartedly agree with phds and docs using it as their own private slush fund. Then like you, I have seen some folks do some amazing work with the cash. In any regards government handing out money just does not line up with political views. Now if wwe could get everyone in the country to vote on it and we all agree I’d be all for it.

    I know one professor who automatically gets the max funding from the NIH without having to write proposals. They just fund him on principle. He is a workhorse and is responsible for curing several diseases. Other professors have no interest in that type of research but simply chase the money because their other sources of funding have dried up. Guys like Tesla and Einstein were able to easily change the world without all these bureaucratic funding agencies. Instead, it’s the funding agencies that now control the direction of someone’s research. I’m pretty sure we’d still be stuck in the 1800s if Nikola Tesla had to go through the NSF to get funding for something.

  98. Anon E. Moose says:

    Nom [95];

    On the morning of the third scheduled bar exam in 1999, [Debtor] locked his keys in the car and never made it to the test.

    Can’t really speak to the merits of the decision, but that there sounds like a self-sabotage defense mechanism.

  99. Comrade Nom Deplume says:

    [106] moose,

    Not the worst performance I’ve heard of, and I did something similar on my LSAT day. Left my license at home. Got into the LSAT with my Costco card.

  100. relo says:

    Mike,

    So sorry to hear. Condolences to you and your family.

  101. relo says:

    40: Coast,

    Great show, no? Was wondering if you were there. 20 years ago I would have been jealous about missing out on the after party. Now, I’m just glad I was able to get to the office this morning. Then again, 20 years ago I would not have guessed they’d still be around to see, much less at this level of performance.

  102. Westjester says:

    Re# 93

    Yep, that was it

  103. Ernest Money says:

    ben (104)-

    Say a quick hello to the 19th century once we start careening back to the 17th century.

    “I’m pretty sure we’d still be stuck in the 1800s if Nikola Tesla had to go through the NSF to get funding for something.”

  104. Comrade Nom Deplume says:

    Now why don’t we hear about Reid and Obama trying to get citizenship for these people???

    http://money.cnn.com/2012/08/13/smallbusiness/immigration/index.html?iid=Lead

  105. gold account says:

    Giving those legislators who have drafted this piece of legislation the benefit of the doubt, I am certain they would conclude this is a good law. After all it is addressing the need for suitable and affordable housing for those with that need. This legislation also contends it will protect surrounding property values from decreasing by eliminating the abandoned status of the foreclosed homes. However, the proposed New Jersey Residential Foreclosure Transformation Act will create a new state entity called the Foreclosure Relief Corporation whose purpose will be to buy these foreclosed homes from the banks and mortgage companies who now own them. These are the same banks and mortgage companies that approved these loans to the former buyers of these foreclosed homes. In essence the NJRFTA amounts to a “bailout” for the wealthy bankers and mortgage companies who made some bad decisions approving the loans. The government managed Foreclosure Relief Corporation, furnished with taxpayer public funds, buys up the bad debt of the banks and mortgage companies. This is simply a transfer of debt from the banks by way of the government to the taxpayer.

  106. A true or untrue consider on headlines, figures, and statements inside of the foreclosure and genuine estate marketplace.

  107. I have spent a bit of time going through your posts, more than I should have but I must say, its worth it!

Comments are closed.