Wednesday, June 29, 2011

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  • Macaca
    12-28 06:33 PM
    India asserting its interests vis-a-vis China (http://search.japantimes.co.jp/cgi-bin/eo20101228a2.html) By Harsh Pant | Japan Times

    India hosted Chinese Premier Wen Jiabao earlier this month in an attempt to stabilize Sino-Indian ties, which have undergone great turbulence the past two years.

    There was no dearth of warm words during the visit: Wen, in a lecture in New Delhi, invoked Mahatma Gandhi as "a man of love and integrity" who "has always lived in my heart." He stressed that although Sino-Indian relations have experienced major turns, they were only a short episode in a 2000-year history of friendly bilateral exchanges.

    Indian External Affairs Minister S.M. Krishna reciprocated by suggesting that the two nations do not see any contradiction in each other's rise and that both understand the importance of leveraging growth and development with mutual cooperation.

    As in the past, economic ties ended up being the focus of the visit. The two sides have now set a target of $100 billion in trade expansion by 2015 from the present $60 billion. Wen had come to India with a group of around 300 Chinese executives; business deals worth about $16 billion were signed. But there was no progress on the regional trade agreement as India remains concerned about its growing trade deficit with China.

    China did not concede to India on any major issue while India decided to play hardball on various issues of importance to China. Wen, for example, refused to acknowledge Indian concerns over China's issuance of stapled visas to the residents of Jammu and Kashmir, the growing Chinese presence in Pakistan-occupied Kashmir, and anti-India terrorist groups operating from Pakistan. Unlike other major powers, China has refused to unambiguously demand that Pakistan shut down the terrorist infrastructure on its soil.

    For its part, India this time refused to explicitly state that it recognizes the Tibet Autonomous Region as part of the Chinese territory.

    There was little movement on a range of concerns that India had flagged before the visit. India had expressed concerns about Beijing damming rivers like the Brahmaputra as well as the nontariff trade barriers to Indian companies in China. India remains keen on gaining access to Chinese markets, especially in the area of pharmaceuticals, information technology and engineering goods.

    Despite the lackluster nature of Wen's India trip, the newfound robustness in India's China policy in recent months is rather striking. After trying to push significant differences with China under the carpet for years, Indian decision-makers are being forced to grudgingly acknowledge that the relationship with China is becoming more contentious.

    India has adopted a harder line on Tibet in recent weeks by making it clear to Beijing that it expects China to reciprocate on Jammu and Kashmir just as India has respected Chinese sensitivities on Tibet and Taiwan.

    Ignoring pressures from Beijing, India decided to take part in the Nobel Peace Prize ceremony for Chinese dissident Liu Xiaobo in Oslo. Beijing had asked several countries, including India, to boycott the ceremony, describing the prize as open support for criminal activities in China. India was among the 44 states that did participate; Pakistan, Russia, Saudi Arabia, Iran and Iraq were among the nations that did not attend. There were rumors that Wen might cancel his India trip in response.

    India's challenge is indeed formidable as it has not yet achieved the economic and political profile that China enjoys regionally and globally. But it gets increasingly bracketed with China as a rising power, emerging power or even a global superpower. India's main security concern is not the increasingly decrepit state of Pakistan but an ever more assertive China, which is widely viewed in India as having a better ability for strategic planning.

    Indian policymakers, however, continue to believe that Beijing is not a short-term threat to India but needs to be watched over the long term even as Indian defense officials increasingly warn in rather blunt terms about the disparity between the two Asian powers.

    India's naval chief has warned that India has neither "the capability nor the intention to match China force for force," while the former Indian air chief has suggested that China poses more of a threat to India than Pakistan.

    It is certainly in the interest of both India and China to stabilize their relationship by seeking out issues on which their interests converge. But strategic problems do not necessarily make for satisfactory solutions merely because they are desirable and in the interest of all.

    For a long time, India was not very important in China's foreign policy calculus, and there was a general perception that India could be easily pushed around. New Delhi's own actions also cemented a perception in China that it was easier to challenge Indian interests without incurring any cost.

    New Delhi's latest robustness in its dealings with Beijing should, therefore, be welcomed insofar as it clarifies certain red lines that remain nonnegotiable.

    Harsh V. Pant teaches at King's College London


    Asia's Busy 2010 in Review (http://www.realclearworld.com/articles/2010/12/28/asias_busy_2010_in_review_99328.html) By Todd Crowell | RealClearWorld
    Emerging Powers and Cooperative Security in Asia (http://www.rsis.edu.sg/publications/WorkingPapers/WP221.pdf) By Joshy M. Paul | S. Rajaratnam School of International Studies




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  • manub
    07-08 09:39 PM
    Thank You for all the support.
    I couldn`t reply any sooner.I was busy with Open house( a whole lot of scrubbing and cleaning).
    I cannot post the contents of the RFE`s as most of the info is private and not appropriate for the public forum.But the info I got from the forum so far has been helpful.
    What we are trying to do now is to get appointments with atleast 2 other attorneys(murthy and khanna) .our current Lawyer responded to our questions on a sunday .Not many lawyers do that. and we have only 2 weeks to respond Once we get some answers we`ll go from there.
    Our case is very complex.I don`t want other members be discouraged by the amount of papers uscis requested.Not every one gets this unlucky.They asked for all w2`s,first and last paystubs with each employer and federal tax returns.Rule of thumb don`t discard any paper that you ever submitted to uscis and all your employment records.
    I will keep you posted.
    thank you again.




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  • mallu
    01-28 02:38 AM
    There has never been a mention of the H1b visas approved and those that do not fall under the quota....

    This guy is just after his ratings nothing else...his book explicitly quotes that H1b and L1 visa holders do not pay any taxes and transfer all the money home. (CNN has a few hundreds of them on H1b)

    When there was a huge debate on illegal immigration he quoted he was all for legal immigration. The only way one can legally immigrate with skills is via H1b visa and he is against it.

    When the debate is on illegal immigration, the former immigrants and their descendants will chant "We love legal immigrants". When the focus shifts to legal immigration, suddenly they don't want any immigration. Their argument is "If bus is full , we don't need more passengers" . Likewise USA is "full" with former immigrants and their descendants , so don't need more immigration.
    If supply is squeezed somehow, the demand will increase. But poor fellows, if businesses can't get qualified numbers , it will accelerate outsourcing.




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  • cbpds
    07-28 02:49 PM
    what did that dumb O bama do with 60 senators and 260 congress democrats in the house-------GHANTA.......he is the most useless guy on earth....

    Indians always seem to think Democrats will help them but they are like our Indian politicians only, all promises no action


    Come the November Elections, Dems could lose 10 in Senate..

    And we are back to square one.

    Dejavu 2007/2008 ;

    If this happens, no bill will pass, leave alone Immigration Reform.

    Republicans will keep sending bills and Obama will Veto 'em.



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  • unitednations
    03-25 06:59 PM
    I am trying to upload a pdf file but keep getting error message.

    temporaryjob140denial.pdf:
    Upload of file failed.

    It is way below the size limit posted for pdf file.

    any ideas?




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  • gc28262
    08-05 03:04 PM
    The solution for all this divisive arguments ? Sue USCIS for making all categories current in July 2007 when there weren't that many visa numbers available.

    Many of the late PD holders wouldn't be in this discussion if we are successful with this lawsuit. :rolleyes:



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  • unseenguy
    06-26 05:07 PM
    Again where are you getting that 550K value for a house from . The houses that were 500K two years back are now 400 - 450K ( exclude the extremes ). Why the HOA - can't the house be a single family home like most of US .

    Taxes - well I was not saying you get the whole money back but are taxes the only reason one should not buy a house ?

    Housing price correction has already happened in most of the good areas. If you think that they are going to go down 20% more that is never going to happen. People are not going to sell. They will just say put rather than take a 40% loss.

    pandeyji, please dont jump to conclusion. The "kind" of house I want to live in is 550K now. I dont know how much was it 2 years back. I live in Seattle, where prices started to fall only late last year and this year when MSFT , Boeing and Starbucks announced layoffs.

    I agree that there are some places now such as : NC, SC, FL, MI , OH, TX, MN etc are good places to buy. CA , OR, NV, AZ and WA have vast supply of inventories.

    When I say I am expecting 20% correction, I am not speculating in blind. I have seen the data on zillow.com where they tell you last price the house was sold for, the date and current price. Zillow also tells you what is their estimate you should offer in current market conditions and how much correction, upward or downward have they seen in last 3 months.

    Now for eg: I see houses from 1999 where they sold for 250-300 K and owners of the same property now expect 550-600K in 2009.

    Now if I do a rent vs buy, I must offer this guy 400K-420K (max) for it to be profitable for me in 5-7 years against the current rent. Also majority of the houses have HOAs here in WA metro areas. Some are high and some are low.

    Again if I have any realistic chance for this guy to take my offer in good faith, he must bring down the cost to 450K. Then 400-420K is a doable deal.

    If the seller is serious, there is no reason why he will not accept a 420K offer because there is abundant oversupply in the market. He can hold out for 2 years but a distressed or needful seller will have to sell home for that price because he might get only 1-2 offers in a month or few months.

    Even in my own community, people are expecting 350 K for a condo with 280 HOA, do you think, I can offer them 270K? Only then the rent/buy will make sense for me in next 5 years (and to be honest I dont plan to live in a town home for 30 years).

    I have given you enough numbers, do the math, lets not bring emotional sentiment into this.




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  • gccovet
    01-07 10:53 AM
    Hi,
    I know I am beating dead horse, awakening this thread again. I am going to get lots of RED but I don't care.

    http://www.hindu.com/nic/dossier.htm

    Paksitan govt. says the provided proof are not solid enough. lol!!!



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  • senthil1
    05-16 12:15 AM
    Law is giving them to right for their unfair practice. So congress is trying to fix the law. Most of them may be abiding law but using unfair practice which affects many people. So there is nothing wrong in fixing the law. Actually they should have applied H1b whenever they need. But they applied H1b for 1 or 2 years so that they will find a job later whereas companies which are having immediate requirement could not find H1b. Is this right practice though 100% legal

    The deal with india is its home to billion people on the planet. Most of these companies recruit from India for same reason why Walmart gets most of its products from China. Free markets and Globalization is not a one way street. If american companies are so good and so caring they dont outsource , they outsource to further their bottomlines. If American companies dont want to outsource all these consulting companies will go out of business overnight.

    As far as your comments about employees from India .. most of these companies are listed in NASDAQ and NYSE (INFY, SAY, WIT).. At least some americans are share holders/owners of these companies. Dont be surprised to know the fact that some americans are on the boards of these companies .Let me make one thing clear, I am not a big fan of these companies , Infact I used work for of these companies and I have first hand experience how these companies treat their employees.

    If any one violates any law he or she should be brought to justice. I am not quite sure what laws these companies have violated. In this country any one is innocent till proven guilty.

    I totally understand your frustration with your VISA situation and hope and pray that you win VISA in the "lottery" .




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  • ShantiRam
    07-11 11:18 AM
    My employer back in 2001 and 2002 did not pay me in a consistent way..I was paid once in every three months during the time I was in bench. I have the W2 returns from those two years which shows average income of only 29K. However I had valid visa status and h1b approval from my employer as well as employment verification letter from them. Now i am with a new employer since 2003 and do not have any problems with them and get paid regurarly. After reading manub's post I am also worried if my I485 will be denied whenever I apply for it... or is there somethings I can take care of before? It is not my fault that the employer did not pay me consistently - right?



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  • delax
    07-13 12:56 PM
    Split up of 75-25 definitely covers interest of both parties. I don't think an EB2 with PD 2007 will have grudge over an EB3 PD 2002 getting his/her GC before. As a matter of fact, as you said, looking through the eyes of governance, I don't think it is illogical. EB3 has lower preference as compared to EB2 but not zero preference! So, an EB3 2002 getting his GC before EB2 2007 is not insane, again, per my belief. You cannot say 100-0 is justice - come on!

    But the same 100-0 logic can be applied between EB1 and Eb2-India. How does EB1 of 2008 get it immediately but EB2-I waits more than 4 years (speaking for myself here) -clearly preference is at play here. if that makes sense then a 100-0 ratio for EB2/EB3 also makes sense
    Honestly nothing makes sense - I am only trying to derive a rationale for the spill over logic used by DOS/USCIS.




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  • Macaca
    12-26 09:33 PM
    Wal-Mart Lobbies Above Retail Value (http://http://www.washingtonpost.com/wp-dyn/content/article/2007/12/26/AR2007122600874.html) By DIBYA SARKAR | Associated Press, Dec 26, 2007

    WASHINGTON -- Wal-Mart's message to America is "Save money. Live better." Its motto in Washington might best be summed up another way: Spend more. Lobby harder.

    The world's largest retailer spent nearly $1.8 million in the first six months of 2007 and is on pace to break the nearly $2.5 million it spent for all of 2006.
    While overall spending on lobbying appears to be slowing a bit, some industries, such as private equity, and companies, such as Wal-Mart Stores Inc., are bucking the trend.

    A relative newcomer to lobbying, the Bentonville, Ark.-based company is making sure Capitol Hill knows it doesn't take a discount approach to getting its message out about everything from immigration to financial-services licensing.

    Wal-Mart spent more than $4 million lobbying in the past 18 months compared with the $6.6 million it collectively spent in the prior seven years, according to federal lobbying reports.

    The retail sector as a whole isn't a lobbying juggernaut in Washington, where defense, energy and pharmaceutical industries write the big checks. For example, Target Corp. spent $100,000 in lobbying expenses in the first six months this year, Sears Holding Corp. spent about $141,000, while defense contractor Lockheed Martin Corp. spent $4.8 million in the same period.
    Wal-Mart spokesman David Tovar would not comment on specific legislation or issues. He said the company's spending depends on the congressional agenda.

    This year, that agenda included immigration reform legislation that failed and a minimum wage-hike bill that passed. The company has said higher wages will push up the cost of goods for customers.

    For their part, Wal-Mart lobbyists pushed for tougher tactics against organized retail crime and for legislation promoting electronic health records and other technology aimed at reducing health-care costs.

    But, Wal-Mart, long criticized for having skimpy employee health-insurance benefits, also lobbied against legislation that would allow employees to form, join or help labor organizations. Its employees are not unionized.

    In the financial services arena, Wal-Mart dropped a bid for a bank license earlier this year after it was strongly opposed by banks, unions and other critics. It continues to push for the ability to offer other financial services, such as prepaid Visa debit cards for millions of low-income shoppers who don't have bank accounts.

    Other issues listed on the disclosure form included legislation tied to international trade matters, currency, taxes and banking.

    Brian Dodge, spokesman for the Retail Industry Leaders Association, which counts Wal-Mart, Costco Wholesale Corp. and Target among its 60 retail members, said in the last few years his group's lobbying efforts have increased involving various issues, including product safety, the environment, organized retail crime, health insurance and jobs.

    While he couldn't speak specifically about Wal-Mart, Dodge said the retail industry must deal with more complex matters, such as imported products involving increased government oversight by several agencies.

    Wal-Mart, which established a Washington shop about 10 years ago, spent just $140,000 in 1999. It spent about a $1 million annually for the next several years, before increasing its lobbying representation and funds in 2005 amid increased criticism of labor practices and benefits.

    "For a long time, Sam Walton really didn't think that Wal-Mart should be involved in politics," said Lee Drutman, a University of California at Berkeley doctoral student who is writing his dissertation on lobbying. "That was part of his actual belief so Wal-Mart was late to the game."



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  • jaocanada
    07-17 02:08 PM
    Manub,
    Our prayers are with God to get you and your family out of this difficult period. I know of a close friend who went thru a similar situation regarding distress sale of the house but finally it all worked out. So keep the faith and be strong. Good luck.



    Hi,
    I applied for GC under schedule A in may06 .My husband filed as derivative.He received a notice of intent to denial last month .Reason being he did not have paystubs for a period of more than 6 months during 2000 and 2001.His employer at that time did not pay him even after he worked for 4 months then he took few more months to change his company(more than 180 days)In 2002 he went to India and came back .and in 2004 filed for a GC as primary petitioner and me as a derivative .last year he withdrew the petition after he received several RFE`S fearing the worst.Even though he no longer has GC filed as primary petitioner he received notice of intent to deny for the petion filed through me saying that his H1 was not legal as could`nt show proof for several months and that when he filed for AOS he used those years as work experience.
    and now another problem is I applied for EAD in march and have not received new ead.my old ead expired 10 days ago.and now Iam not working.
    We bought a house last year thinking that under schedule A we`ll get GC in no time.Now we know it is a terrible mistake.Now both of us can`t work and had to take my son out of daycare. and we have house payments to make.We put our house for sale weeks ago and so far no offers.I contacted local representative to expedite My EAD and also contacted USCIS to expedite it,
    citing financial burden.We are spending sleepless nights and have no clue what to do for my EAD and his AOS.pLEASE HELP.
    Did anyone face similar situation .Any suggestions are welcome.




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  • sledge_hammer
    06-05 05:53 PM
    Unless one is a day trader, he/she probably has a real job (no offense to day traders :D), and only invests regularly through his/her employer sponsored retirement account or if she is self employed, she has an IRA account, to take advantage of dollar cost averaging. I am the latter btw! It used to be that 10 years was what was considered to measure the performance of any investment, and even though that trend has changed now, let's just stick with the 10 year yard stick.

    Let's take an example of Joe. Let's assume he has 30K in his pocket for investment. His goal is hard set to invest right now and cash out in 10 years. Let's find out where he stands at the end of 10 years in the two situations, rent and own.

    -------- I am going to spend the next 10 mins crunching some numbers and I will get back to you :D. You are free to post your calculations here ---------------

    Now we are getting into another different fun topic - how does a real estate "investment" compare with other forms of investment.

    1. Leverage = speculation = risk. By taking the leverage and buying the house - you lock in a 3-5% return and a lot of risk (for a 200k house - that would be 10k/year max). The 3-5% comes from long term price appreciation trends.

    If I did not buy that 200k house - I would invest the initial 40k and the rest of 160k gradually every month. For simplistic calculations:
    return from 40k - 5% (I can show you reward checking accounts with that rate even now). Inflation protected TIPS could be a good place if you are afraid of hyperinflation
    Earnings = 2k.

    You save 3k each year by renting.
    Running Total = 5k.

    Every year - you put in some money to your investment vehicle = mortgage amortization. So over 30 years - you would have been earning investment income on $80k @5% on an average = 4k.
    Running Total = 9k.

    So you are making 1k more by buying - AND taking a lot of leverage = risk.

    Inflation can upset this calculation - but not much. 1980 - 2008 was an unusual period of low inflation and high growth = high housing price increase. Any bets on how sustainable that would be? Typically housing price appreciation would be at or below inflation - which would favor other investment vehicles over real estate.

    I personally would need much more compelling reasons than the above to buy.

    This calculation does not take into account the flexibility in relocation if you do not buying a house. It alos does not consider the risk associated with having the largest chunk of your portfolio invested in a single non-diversified house instead of having a properly diversified portfolio.

    Probably not very relevant - but you can get a lot of leverage if you have the stomach for it by opening a brokerage account with 40k (your initial downpayment). A good semi-professional one would be IB (interactivebrokers.com). Margin accounts give a 3X/4x leverage any day. Buy a few interest rate, currency or commodity swaps with that - and your leverage can reach stratospheric levels. I know I dont have the stomach for that.



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  • Macaca
    05-27 05:46 PM
    The Next Great Resource Shortage: U.S. Scientists (http://www.time.com/time/nation/article/0,8599,2074024,00.html) By ANDREW J. ROTHERHAM | Time

    The word "stem" is tossed around so much at education meetings these days, you'd think you were at a gardening seminar. STEM is shorthand for "science, technology, engineering, and mathematics" � all fields that are growing, providing lucrative jobs, and key to future American competitiveness. That's why everyone from President Obama to the United States Chamber of Commerce is worried about whether we're producing enough STEM graduates from our colleges and universities. That this is a problem is one of the few things that everyone in education seems to agree upon.

    Part of the push for better STEM education stems � sorry � from American companies claiming there are shortages of American workers able to take on certain roles. Each year, American technology and engineering firms push to expand the number of workers allowed under the "H-1B" visa program, a category that allows companies to hire foreigners in roles where they cannot find a qualified American citizen. Critics claim the H-1B program is more a ploy to allow companies to hire skilled workers cheaper.

    STEM anxiety is also an outgrowth of larger concerns about American competitiveness. The growing number of STEM workers in countries like China and India has policymakers on edge. You often hear that China and India are producing many more engineers than the United States, but when researchers from Duke University looked closely at the numbers, they found that what's counted as an engineering degree in those countries would often be considered a vocational certificate or two-year degree in this country. The Duke team found relative parity between the United States and China and India when the engineering comparison was apples to apples.

    And part of our STEM obsession is frankly just longtime habit. In the 1950s, it was Admiral Hyman Rickover calling for more math and science education as part of the effort to keep us competitive with the Soviets. Congress passed legislation to support math and science education in 1958 and advocates have been pushing for more ever since. Congress passed several STEM measures in just the last decade, including the 2007 America Competes Act, which includes measures to recruit and train teachers in STEM subjects.

    Still, debatable need, confused statistics, and force of habit doesn't mean there isn't an actual STEM problem facing the United States. American students should be doing better in math and science than they are now, and we are arguably producing too few college STEM majors. If the global competitiveness race turns into a numbers game, we're in trouble absent dramatic improvements: If it were its own country, the populations of China and India aged 14 and younger would each still be among the top five nations in the world in terms of population. That means that even marginal improvements in education in those countries will pay big dividends and put them on a stronger competitive footing. Besides, there is little doubt that our own economic future hinges in no small part on remaining a leader in innovation in science and technology.

    So we want more college graduates in STEM careers. How do we get them? Right now policymakers are fixated on upgrading the quality of the math and science teaching force through better recruitment and training. "Out-of-field" teachers � meaning those without proper training in the subject � remain an acute problem in math and science. Scholarships, loan-forgiveness, and even higher pay are all used to attract more teachers into STEM fields. More creative ideas are emerging, too. Math For America provides $100,000 fellowships for math teachers and Partners in Science gives science teachers the opportunity to undertake actual scientific work at national laboratories during the summer. All good ideas, but to some extent we're chasing our tail: Not enough STEM graduates means not enough STEM teachers, regardless of the incentives.

    The second answer is to expose students to STEM fields early on and use scholarships and inducements for them to choose STEM careers. This is where the STEM rhetoric meets our educational reality: A lot of students are not going into STEM careers today not because they're unaware of the choice, but rather because they cannot make that choice because of the quality of education they are receiving.

    Think about it. With high school graduation rates of only about 75 percent overall (and 64 percent for Hispanics and 62 percent for African-Americans) we lose a lot of potential STEM students long before college. At the same time, many students graduating from high schools are not taking the math and science courses necessary to pursue a STEM career. Experts estimate that only about one-third of graduating high school students are genuinely college-ready.

    Of course, not all currently underserved students would choose STEM careers either. People chose their work for a variety of reasons. Yet it's a reasonable assumption that some percentage of currently underserved students would choose STEM just as some percentage of more advantaged students do now. So rather than trying to squeeze a few more STEM students from populations that can already choose STEM if they want to, perhaps policymakers should focus even more on giving currently under-served populations the ability to make a STEM choice in the first place. If you're not taking the right classes � or worse, if you're not in school � STEM careers are not a viable choice for you. Fixing that seems the path to the richest untapped vein of future American talent.

    In other words, in the long term, the STEM agenda really isn't that different than the more general school improvement agenda. Linking the two more explicitly would also help make the push for STEM more relevant and engaging for parents than it is today. Because while education leaders can't shut up about STEM, it's hardly even on the radar of most parents � when they talk about stems they usually are talking about plants.


    The Right Job? It�s Much Like the Right Spouse (http://www.nytimes.com/2011/05/22/business/22corner.html) By ADAM BRYANT | New York Times
    The Downsized College Graduate (http://www.nytimes.com/roomfordebate/2011/05/24/the-downsized-college-graduate) The New York Times
    Top Colleges, Largely for the Elite (http://www.nytimes.com/2011/05/25/business/economy/25leonhardt.html) By DAVID LEONHARDT | The New York Times
    Five myths about America�s schools (http://www.washingtonpost.com/opinions/five-myths-about-americas-schools/2011/05/09/AFunW27G_story.html) By Paul Farhi | The Washington Post
    The Failure of American Schools (http://www.theatlantic.com/magazine/print/2011/06/the-failure-of-american-schools/8497/) By Joel Klein | The Atlantic




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  • 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!



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  • rbharol
    04-07 01:35 AM
    I don't really think this bill will even be discussed. yes the may try to cut and paste parts of it to immigration bill....

    Will Compete America and other companies accept it? no way..

    And if it goes through, it will be begining of an end to America's supermacy as a leader in the world economy.




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  • Madhuri
    05-16 11:08 AM
    Very well said Sanju. You put everything in right perspective.




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  • bondgoli007
    01-06 05:34 PM
    My point is, they keep the spotlight on Hamas and go kill as many innocent civilians as possible.

    Even when they kill school kids, we still blame Hamas. We don't blame the killer and try to stop their mad actions. Thats my point.
    :-) your argument or your feeble attempt at it is quite pathetic.

    No one on this forum feels any less sad on the happenings in Gaza as you but at the same time no one is demanding sympathy the way you are....not to mention the bare display of your own rage and hypocrisy on discussions on Islamic terrorism which everyone except you feels is a major cause of the tragedy in Gaza.

    If you want to do something constructive, put is in proper language...on the contrary you ignited a war of words between you and the rest of the member all of whom you reckon are "muslim haters"....

    I will concede one point to you...you do know the meaning of hate...and you know it well..

    Peace be with you...if it can.




    gcisadawg
    12-22 02:37 AM
    If that's what your experience has been, its good news.
    Overall, my experience has been completely opposite but if most Pakistanis are anti-terrorism as you say, half the battle is already won. I am also beginning to a get a sense that this has embarrased lot of muslims....and its set them thinking.

    However, how do you propose we bring the terrorists to book? Attack Pakistan? Bomb the terrorist camps out? Wait for another attack to happen, wait for your own family in Mumbai to be wiped out? And exchange hateful words on IV? Release the terrorists in exchange for political hostages or fedd them dal, chapatis in Indian prisons?

    Justice doesn't come magically or does it?

    Well, one thing I can think of is how we treat the dead terrorists. In case of Parliament, Ashkardam and Mumbai attack, security forces killed the terrorists while they were killing innocents. As usual, Pakistan disowned them.
    Publicise very very heavily and spread the word that these dead bodies would be given non-islamic burial. Hit where it hurts them...After giving non-islamic rites, spread the word that next terrorist that gets killed would get more drastic treatment.

    BUT ensure that this treatment would be only for the foreign terrorists who are killed by security forces while doing their act and that are disowned by their country. It can be easily misused also. This should ONLY be done if nobody claims ownership of the body.

    The story we hear about Kasab is that he was a looser and a petty criminal who was brainwashed. If he and his ilks are willing to get brainwashed religiously then they can not discount the effect of propaganda about non-islamic rites for their dead body and possibly it might deter them from taking that ultimate step.

    Take a survey among the Muslims in Bombay to see if they support giving non-islamic rites for the 'orphaned' dead terrorists. I'm sure most of the sensible Muslims are outraged and they would agree to it especially after seeing what they saw on the TV. Before the killer's gun, there is no religion but only the intention to kill.




    senthil1
    04-06 11:24 PM
    Basically the H1b Cap issue should be resolved. Either unlimited H1b or restriction in bodyshopping is needed to resolve the problem to keep H1b system working. Or current broken system will continue. Also gc is completed related to H1b you can take think what will be the impact. Situation is not good for GC seekers. If they increase h1b retrogession will increase. If they restrict H1b same gc seekers will be impacted. Basically this forum members have to ask unlimited H1b and unlimited GC to satisfy everyone. Is that achivable?

    what are you saying? The above post is totally incoherent



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