November 05, 2007

Belmont Chamber Events 10/29/2007 Belmont Chamber of Commerce October 29, 2007 Below are the upcoming events of Belmont Chamber and City that are happening this week. If you have items that you would like to include please let us know. Sundays @8:30AM - 1:00PM ~ Farmers Market - Booth space available. NOW YEAR ROUND!!! If you would like to promote your company - come and share the Chambers booth. This is a free service to members of Belmont Chamber. Call the office at 650-595-8696 or Email us at with dates and times that you would like to reserve part of the booth. This is a GREAT way to reach the community. Monday-Saturday @ 10AM and Sunday 1PM ~ Friends' Book Store Location: Belmont Library, 1110 Alameda de las Pulgas Proceeds benefit the Belmont Library. Information: 650-593-5650 Monday, October 1st - Monday, November 5th ~ Dolly's Hal-O-Ween pet photo contest Location: Dolly's Treasures Enter up to 2, 5x7 or smaller, photos of your pet (costumes optional). You may bring your photo(s) to Dolly's Treasures in the Carlmont Village Shopping Center, Belmont. or e-mail to The photos will be posted at our store and customers will be able to vote for their favorites-- Nov 6th through Nov 17th. The photos receiving the most votes will be eligible to win one of 3 pet gift baskets from dolly's Treasures. Value up to $50.00. September 10th - November 3rd @ 2:00 PM & 3:00PM ~ National Weight Loss Contest Location: Healthy Inspirations - 390 El Camino...
Sub-Prime Lending Mess What is a sub-prime loan and why are the folks in trouble? Simply put a sub-prime loan was a loan which offered people to purchase homes for which they were not qualified to purchase. For example, a lender might have offered a new buyer the opportunity to own their own home with no money down. Many of these loans offered various payment options. The traditional payment of principle and Interest fully amortized over 15 or more commonly 30 year periods. At the end of 30 years, you owned the home. One variation was to offer an interest only payment. In this scenario the buyer would pay the interest portion of the monthly payment only—deferring the principle payment until the time of sale. In this scenario, a borrower never actually paid off the principle, but it helped many would-be homeowners become a "homeowner". Here are three payment options many of these loans provided: principle and interest, interest only or negative amortization. A negatively amortized loan payment is less than a fully amortized payment or an interest only payment since the borrower is only paying a portion of the full inertest due and nothing towards the principle. In the following example we see what these three payment options would do to a homeowner's payment. Loan amount $300,000 Rate 6.5% Principle & Interest payment $1,896.20 Interest only $1,625.00 Negatively Amortized $1,125.00 (4.5%) As is evident, it was very tempting to opt for the negatively amortized loan since it dropped the out of pocket...

Drew Morgan

Sponsored by Drew & Christine Morgan"Helping People Make Good Decisions"smReal Estate Sales and ConsultingCarlmont Associates

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