Archives

Wednesday, May 20, 2009

400-408Matt McCormick, CEO of the Christian Lawyers of America (christianlawyersofamerica.com, 888-702-0111), is hosting another Mortgage Modification & Debt Settlement Workshop this Friday at the Double Tree Hotel, 100 The City Drive, in Orange.  We'll be broadcasting our show from 4-7 and then the seminar will start at 7:30pm.  Registration and parking are free, just go to KKLA.com to let us know you're coming.

413-423When the services you care about get cut, then you'll appreciate the business community that pays the majority of taxes and creates the jobs, instead of this class-warfare rhetoric we keep hearing from the politicians.  If you want services, cut taxes, attract businesses, and don't punish success.  And now the big-government types want to do for the whole country what they've done for California, New York, and Michigan.  It's time you start voting for candidates who will live within their means, just like you try to do in your own family.

428-437Jeff Vines, senior pastor of Christ's Church of the Valley in San Dimas (ccvnow.com), and the author of Dinner with Skeptics: Defending God In A World That Makes No Sense, in it's 4th printing with Ravi Zacharias.  Jeff has been doing an apologetics series at this church, and is big on "apologetics with a touch."  He shares about their ministry to single moms.

443-452Jeff Vines. 

458-508Greg Laurie, pastor of the 15,000-member Harvest Christian Fellowship in Riverside (harvest.org/church), his A New Beginning is heard weekdays on KKLA at 10:30am, and his "Thursdays with Greg Laurie" is going great at Free Chapel in Irvine (near McGaw and Jamboree), and Greg will be celebrating the 20th Anniversary of the Harvest Crusades when it returns to Anaheim August 14, 15, and 16 (harvest.org), with this year's artists Third Day, Reliant K, Skillet, The Katinas, and Chris Tomlin.
• 109,000 people attended Harvest last year with 11,278 people making decisions to follow Christ – 80% of them were brought by a friend – and every one of them was given a New Believer's Bible that the KKLA audience paid for.  To help again this year call (800) 821-3300.  Each Bible is $2.00, and we're asking you to buy 25 for $50.

512-523Greg Laurie.

528-538Rob Bernabe, (rob.bernabe@cox.net) 25-year veteran of the financial services industry, who as President of E*TRADE Mortgage Corporation grew it from a small operation to the third-largest online mortgage lender in the Nation, he also ran H&R Block Mortgage Corporation and today runs the Financial Freedom Mortgage Workshop at Saddleback (http://www.saddlebackfamily.com/maturity/personalfinances/index.html) that teaches the biblical principles of financial stewardship.  His soon-to-be-published book is called Mind Your Own Mortgage, and will teach people how to not get ripped off, how to shop for a mortgage like it's a gallon of gas, and how to manage our mortgage debt so we can pay off our loans faster – too many people "buy a payment", refinancing anytime they can lower their payment rather than focusing on the reducing the cost of mortgage debt and paying down the principle.

• Today, Rob explains The New Socialism of Mortgage Banking, aka how the government has seized control of the mortgage market and has become the new subprime lender.  And, how the big-government types want to bring to America what's already happened in California.

Here's the bottom line. 

1) The federal government is the largest investor in mortgages because they're the ones who print the money – this money is then used to buy loans from Fannie Mae/Freddie Mac/FHA. 

2) But the government has seized control of these groups and now dictates the underwriting standards. 

3) Via the TARP funds, the government now directs banks how to manage their businesses how to use their money. The banks are restricted from meeting the total demand for home loans due TARP and the standards for capital preservation the Federal Gov't imposes on them.

4) The government and the banking industry are pushing mortgage bankers out of the market. 

5) Since the banks can't handle the volume – This may lead to the government making loans directly to the consumer via Fannie/Freddie and the FHA. 

6) FHA has become the new subprime lender – giving loans to those with lower income, lower credit, and no equity – giving new meaning to "federal housing." – lending up to 45% debts-to-income, leaving just 10% to live on after you tithe, save and pay your income tax. 

7) The long-term outlook on the residential housing market?  Socialized housing at taxpayer's expense.

544-554Rob Bernabe, (rob.bernabe@cox.net) 25-year veteran of the financial services industry, who as President of E*TRADE Mortgage Corporation grew it from a small operation to the third-largest online mortgage lender in the Nation, he also ran H&R Block Mortgage Corporation and today runs the Financial Freedom Mortgage Workshop at Saddleback (http://www.saddlebackfamily.com/maturity/personalfinances/index.html) that teaches the biblical principles of financial stewardship.  His soon-to-be-published book is called Mind Your Own Mortgage, and will teach people how to not get ripped off, how to shop for a mortgage like it's a gallon of gas, and how to manage our mortgage debt so we can pay off our loans faster – too many people "buy a payment", refinancing anytime they can lower their payment rather than focusing on the reducing the cost of mortgage debt and paying down the principle.

558-608Rob Bernabe,

612-623So, how do you feel about state workers getting cut?

• John Steele Gordon (5/20/09) Why Government Can't Run a Business: Politicians need headlines. Executives need profits.  Mr. Gordon is the author of "An Empire of Wealth: The Epic History of American Economic Power" (HarperCollins, 2004).

• Mark Steyn (5/20/09) Over and Out

Following California's "tax revolt" and the usual editorials from a dying media sneering at the electorate as tantrum-throwing kindergartners, we now move on to the swimsuit round, in which the Golden State's woes are federalized and redistributed to the nation at large. In the states' version of the Obama model for everything from mortgages to credit cards, the feckless will have their pathologies rewarded and the prudent will get stuck with the tab. The Atlantic's Megan McArdle cuts to the chase:

California is completely, totally, irreparably hosed.  Up next: New York.

As Miss McArdle notes, whether you bail out states "too big to fail" or let them go bankrupt, it will cause pain to taxpayers. But the pain of the latter is relatively short-term. Passing Sacramento's buck to Washington will accelerate the centralizing pull in American politics and eventually eliminate any advantage to voting with your feet.
Not to be too gloomy, but the country feels like it's seizing up. It's as if California and New York have burst their bodices like two corpulent gin-soaked trollops and rolled over the fruited plain to rub bellies at the Mississippi. If you're underneath, it's not going to be fun.




628-638Calls

644-652Calls

• Michael Franc, Heritage Foundation (5/18/09) Who Will Pay for President Obama's Tax Increases?








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