is any listening

I what to refinance from 30 years adjustible (cofi, from Worlsavings, who was bought by Wachovia, who was bought out by Wells Fargo) to a fix. I was able to fix my rate at 7% but in December it goes to whatever the cofi index will be at.

But Wells Fargo has said no. And as it turns out, I think that my rate will be less anyway since the Cofi index is down. But I wanted peace of mind so that I get a fix for 15 years and not worry about it going up. So I am stuck.

Is 79.9% legal for credit card interest rate? Yes..

It is -They're doing it!! But should they.

Issuer of 79.9% Interest Rate Credit Card Defends Its Product
by Connie Prater Friday, February 12, 2010 provided by CreditCards.com
APR Shocks Many, but Issuer Says They Are Pricing for the Risk

If you have bad credit in the new era of credit card regulation, be prepared to pay -- dearly -- for the privilege of using credit. That's the message underlying recent credit card offers that feature jaw-dropping interest rates of up to 79.9 percent.
The sky-high rates may be a sign of things to come in the market for so-called subprime credit cards as issuers who lend to the riskiest of borrowers try to figure out how to stay in business and comply with the new credit card reform law.

http://finance.yahoo.com/banking-budgeting/article/108839/issuer-of-79.9-interest-rate-credit-card-defends-its-product?mod=bb-creditcards

Are Banks complying with the new 2010 Credit Card Rules

The House yesterday passed a version of the Credit Cardholders’ Bill of Rights. It’s the latest in a wave of proposed legislation aimed at helping consumers deal with the credit-card industry. (Previous coverage: President Obama, the Senate, the Fed, and the Cardholders’ Bill)
But has anything actually changed when it comes to helping consumers with their credit cards?
Credit-card comparison site BillShrink sifted through the fine print on more than 200 major credit cards to find out who is complying. We reported in December, shortly after the bill was announced, that no major credit cards met all of the bill’s eight major requirements. The bill does not take effect until mid-2010.
“The banks are not willing to adopt these consumer-friendly things unless they’re forced to,” Samir Kothari, co-founder of BillShrink says.
http://blogs.wsj.com/wallet/2009/05/01/who-is-complying-with-new-credit-card-rules-an-update/?mod=yahoo_hs

aslo visit www.BillShrink.com more a lot more info.

INGDIRECT -can't help with modification

I just finished calling IngDirect's Home Retention Program(Loan Modification), 1-888-464-6118 .

Scenario: Borrower has a Home Equity Line of Credit at 7% and balance of $59,000.

Issue: Called IngDirect to try to reduce interest rate.

IngDirect says NO. They only work with mortgages not Equity Lines as they are not "mortgage" but personal credit.

Again, another point of the confusion and unclear information out there. I think there are a lot of people in similar situations, and so I believe this will lead to more defautls in credit -whether personal or mortgage credit.

The Tax Tea Parties are not just for conservatives. It is for the average work is labors to put food on their tables.

Today tax filing deadline day is Tax Tea Parties protesting ever increasing burden of our taxes.
I don't understand how NBC and the San Francisco Chronicle( see excerpt below) can call this a protest "whipped up by conservative commentators."

This is not anti Obama, or would it have been anti Bush. This is coming from people like me who is tired of the Bailouts and tax credits,favors, payoffs to corporations like Banks, Insurance company when we are losing our homes, our state taxes gave gone way up and every piece of bread, milk and car registration has gone up and up.

Enough. Let's modify our tax code. The Tax code is really full employment for tax attorneys, scam artists, preparers and accounts.
I am a tax preparer and often I end giving up my services to help people who have to file and cannot even afford the $35 filing fee I charge.




"Thousands rally with 'tea parties' on tax day
By JOE BIESK, Associated Press Writer
Wednesday, April 15, 2009
17:21 PDT ATLANTA, (AP) --
Whipped up by conservative commentators and bloggers, tens of thousands of protesters staged "tea parties" around the country Wednesday to tap into the collective angst stirred up by a bad economy, government spending and bailouts. The rallies were directed at President Barack Obama's new administration on a symbolic day: the deadline to file income taxes. Protesters even threw what appeared to be a box of tea bags toward the White House, causing a brief lockdown at the compound.
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/04/15/national/a080019D17.DTL&hw=tax+revolt&sn=001&sc=1000

I sound like a broker record...But is anyone listening?

I am beginning to feel that my postings are all the same. But the truth is that although the stories are similar the human beings behind are real. The mother, father, sister, brother, child, grandparent, spouse are real.
Just 4/12/2009 two more individuals told me their stories on the problems they are having dealing with the Banks:

Case I: Cannot refinance through Wells Fargo. Richmond, CA
Facts: Male, married, credit score over 700, not late on any mortgage payment. He has an adjustable loan with Wachovia who is now owned by Wells Fargo.
Storey: He has been trying to refinance to a fix rate. It has been over 6 months and the answer is always "give us more paperwork." The result is that he cannot finance because the price of his house has gone down by 30%, and therefore, there is not enough equity in the house.

Wells Fargo will NOT cancel principal, will not defer principal. I gave him the Acorn and HOPE numbers a few weeks ago, and he doesn't seem too hopeful that they can help. In a few weeks he will decide if he stops making payments.

Case II: Again, cannot refinance through Wells Fargo, San Jose, CA
Facts: Female, married, not late on any mortgate payment. Has a good interest rate (around 5.9), but is beginning to have problems making the payments after her husband was laidoff from work.

Story: She's connacted Wells Fargo and the bank tells her that they cannot refinance due to her ratios and because is not late that she cannot work a loan modification.

The Hypocrisy of our leaders.

The hypocrisy our leaders is beyond words. As was leaving for work this morning I got to see the beginning of the hearings on the A.I.G. and through out the day I heard the headline reports.
Our politicians leaders are angry, concern, caught my surprise. This includes the president, congress, etc. Barney Frank who is probably more guilty than the rest.

And I came to one conclusion: our leaders don't lead. They react to whatever is happening. But the final blame goes on us the voters, for voting them, and worst, keeping them in office.