Mortgage @ MindSay

There are now seventy amazing pictures of Ontario Tourist Attractions

on this cool new photo contest website.

Starting in september, Lenzr has been collecting Ontario Tourist Attractions pictures and is set-up to make participants slightly nostalgic and reminiscent of their own family road trips across this great big province. They should reflect on all the places they stopped wherein family pictures for scrapbooks and photo albums occured. The Big Nickle was submitted by sj_gb who delights the admin by linking to a personal photography blogspot in the designated area in the user profile.  This contest is a search for pictures that celebrate of our province’s most interesting destinations, and The Big Nickle is a classic. Look at these other gems, This photo by Slimmswitch is called Ottawa - The Spider City and so far it has the most votes with the highest rating.

Caption: Located in Ottawa, if you stand under this huge spider and look up you can actually see they put fake spider eggs inside the structure??

The one is titled, No Pesky Neighbours Here and was uploaded by mommakoala. This is a terrific photo from 1000 islands tourist attraction in the most eastern corner of Ontario.

Lenzr is an online attraction that celebrates Ontario as it asks users to upload scenic shots of the province's most delightful destinations. Ontario Tourist Attractions photo contest on Lenzr sponsored by Kanetix insurance & mortgage rate quotes This photo contest ends 12:01 am on the morning of November 1st 2009. Two Prizes: both cash prizes. There’s a $200 value first prize, followed by a $100 second prize unit.

Have you ever wondered why the standard terms for mortgages are 15 and 30 years rather than 10 and 20 or 25 and 50?  I have, but was never able to find a satisfactory answer. Then I discovered something interesting. Since this country was founded, downturns in the economy have occurred on an average of once every 14.5 years. This similarity may, of course, be sheer coincidence. But I'm suspicious.

Why?

Well, if you amortize a standard 30 year mortgage at six percent interest, you'll discover that the lender gets all of the money it has invested back in 13 years and 11 months.

Now look at what happens to a home buyer who takes out a mortgage just after an economic downturn, pays on it for 14 years, a downturn strikes, and then for whatever reason cannot sell his home and defaults. The lender gets the house and the buyer has lost all the money he/she has put into it.

But look at what happens to the lender. It has already gotten its initial investment back, so in reality it loses nothing. But now it has a house to sell. How much has the lender paid for this house? Nothing! So it sells the house to another buyer by providing another mortgage. Now if the initial buyer had continued to pay the loan to term, the lender would have earned about as much as the initial investment. But now everything the second buyer pays is pure profit, not just the computed interest. In reality, the total amount of the mortgage loan is earned interest on an investment of zero. Wouldn't you like to find a way of doing that?

Of course, such situations don't come about often. Although the average time between economic downturns is 14.5 years, downturns happen at varied intervals. And even in downturns, many people forced to sell their homes usually can. But it doesn't take many who can't to make lenders a lot of money. Just five people forced into the situation described with $100,000 loans would net a lender a hefty one million free dollars. If the loans are larger, the lender nets even more. And, of course, the numbers are different for different interest rates. But the principle is the same. Lenders almost always get their initial investments back in half a loan's term or less.  

©2009 John Kozy

well, again I haven't written in awhile...
After I last wrote, we were getting ready to go see my mom in Jacksonville,NC where she is in a nursing home...That morning we got up to a flooded basement...so, we had to stay,, called insurance, and plumber...Both came out that day and next day...with the insurance check we got we made an extra house payment..God works in mysterious ways! now we are only one month behind...but they continue to not want to help us..just this week we were again denied for the loan mod...they told us as long as we were behind and in the hole each month we would never qualify!! What??makes no sense...we were told that was why people like us could qualify for it..job loss, behind on payments,etc...That's what Obama said!!  its so frustrating!! Our second mortgage co. gave us a loan mod in 2 days!!! and we were behind with them too!! what's up with that??  who do you contact to find out if your mortgage co is jerking you around??/ they have to report to someone do they not?? sigh----
Good news is I got a job yesterday...Its part time like I wanted, no nights and no weekends..and only about 3-4 hrs a day, but every bit helps..I'm on Emergency unemployment now and my understanding is that that runs out in Oct... so we are still fighting to save our house as it stands now... oh and our first mortgage told us we needed to pare our bills down since we are in the hole every month..ok, well, we went to a credit manager and He told us there was no where to cut back!! we are paying only what we have to right now-utilities,insurance,gas,food,stuff like that that you cant pare back.. other good news, my husband  and my daughter got some help to be able to go to Doctor and get meds now...Ours is no cost to go to Doctor and daughter has to pay $5 each visit.Husband is diabetic, so he got his meds for free and my daughter is on a couple of meds that are free now too..that is a big help there..and our past doctor bills were covered and paid also which was almost at $1000.00.....now just owe the dentist $500.00...dont know when that will get paid...as no extra money at all. And here in NC taxes went up!! are they trying to kill us??? Our property taxes we owe this year are almost $2000.00!!!!! and sales taxes went up too... and now Duke Energy is wanting to raise its cost??? great...people are struggling..what do they want?our blood??? Christmas this year will be bleak..I just basically want my family together.. still trying to figure that out..with property taxes due right in Jan. that kills us..Christmas isnt about getting anyway..its about Christ and his birth.. we love each other and have fun as a family..that's what matters..The Black Friday list has already come out...those that have $ to spend-have at it...we don't.... yesterday in the mail we get 3 different letters from the county ..we owe $5 per cat we now have ..taxes on our animals!! I thought we came to America to flee Taxes on everything !! and for Religious freedom!!  good grief... tax this, raise this, what next???
have I said enough??? No wonder I was depressed earlier this week...
I was going to leave for the beach today with 3 good friends. they were going to take care of me so I could go.yesterday evening we get a call from one of them, my really good friend(I call her my Sis!) and her Dad was in ICU.. She had to call 911 earlier as he fell twice...so weak.... he had been sick all week but thought he was getting better... he was so dehydrated that they had to use a force bag to get the fluids in him. he took 4 bags I think..anyway, the rest of us told her we were not leaving her behind to go on to the beach..She wanted us to go on..can you believe that??She is so unselfish..I told her to shut up!! we were staying to be with her and the beach would still be there whenever...She couldn't help it that her dad got so ill...they weren't even sure he'd pull through last night! and she wanted us to go on.. No way!!my husband and I went over to hospital after she called and stayed. we took her to get something to eat. she went to be with her mom last night. her mom is diabetic and confined to the house..She has to be carried several times a week to receive dialysis. And she needs constant care..my friend is an only child so everything falls on her. She is a wife, and mother to two teens herself and works.. talk about having a full plate.. she does..
anyway I talked to her about 9 this morning and her dad stablizied during the night. they want to move him into a room out of ICU and regulate his meds. he lost so much weight...Will find out more later this afternoon..

my daughter started College in late August and she has adjusted well. Its our local community college, but she is doing great!! She has already aced a couple of tests! next fall she will transfer to UNCC. She has a new "Boy friend" lol says she doesn't want to be involved with anyone right now and they are just friends. I like him he is very nice.
Son has new girlfriend this year at Appalachian. he loves his apartment and having his own room!
I'm glad they are both settling in well.
well gotta run for now..maybe I will post again before another month rolls by! or two!