Extending an Olive Branch
Peace Quote of the Day: “When the power of love overcomes the love of power, the world will know peace.” – Jimi Hendrix
There is hope for those looking to refinance their “underwater” homes. The government revamped their HARP program (a program that lets you refinance without having to pay PMI if you’ve lost equity in your home)…but they’re still not forcing banks to go along with it, which is troubling. If banks were high school, this would be like a student taking two years of Spanish but then being at the school’s mercy whether or not they received credit for it. (Incidentally, I didn’t get credit for my two years of Spanish at all, but I suspect that may have been because I failed it.) The point is, even with the glaring flaws, it’s progress.
Interest Rate Update: Rates have gone up recently and I actually said to someone, “Rates stink today,” when I quoted in the 4s. It’s hard to believe those words came out of my mouth, considering that in the 80s you would’ve heard “Rates are fantastic today! They’re down to 10%.” Lesson of the day? Don’t get a haircut when your barber has lost a contact lens. Oh wait, that was yesterday’s lesson. Today’s lesson? Let’s not get spoiled by the still-beautiful rates (30-yr fixed is in the low 4s with ARM rates about a point lower). And don’t forget to tell your friends and family that for any loan over $240k I will waive all lender fees – a $1,200 savings!
Peace Quote of the Day 2: “I’d kill for a Nobel Peace Prize.” – Steven Wright (comedian)
Timeout for Trivia: Congrats to those who last week guessed George Wendt. Want to be entered into a drawing to win University of Kansas boxer shorts (unworn)? Simply email me the answer to this week’s “Who Am I?” question. Good luck: “October 26th is a lucky day for me because my songs were number one on the charts on this date in 1991, 1993, and 1995. An anagram for my name is “a creamy hair,” which sounds like it would be more appropriate to somebody like Elvis, not me. Speaking of the King of Rock ‘N Roll, my 2008 song about my body was my record 18th number one single which broke the record he held. However, years earlier it was the King of Pop who helped me get over my stage fright when I did a cover tune of one of his songs (a number-one hit for both of us) on MTV’s Unplugged.”