More
than 350,000 kids in the Chicago Public School district got to sleep in
on Monday because their teachers were up early striking for better
benefits, job security, evaluations, and training. The Chicago Teachers
Union has been in contract negotiations with Chicago Public Schools
since November 2011, but this is the first actual teachers' strike to
hit the Windy City in 25 years. This latest movement has sparked a
fierce debate about national education reform, raising questions about
America's emphasis on standardized testing.
Read on for our primer of what's happening in Chicago, with updates. [READ MORE].......
Chicago is most violent city in the US with the most highest drop out rate in America....someone needs to be held accountable...teachers, unions, administrators...someone is responsible? no pay for poor performance, period...seem the schools are nothing but high paid babysitters...kosmicdebris
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Abby talks about a new program in multiple states aimed to track children with RFID chips in their student IDs.
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Abby and RT Producer Manuel Rapalo duke it out over the political impact of the OWS.
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Pressure Put on Manning to Implicate Assange Michael Ratner: As Wikileaks Founder Nears 100 Days in Ecuadorian Embassy Sweden's refusal to interview Assange in London suggests they are working with US towards extradition Go to story | Go to homepage |
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The Fed and the Crisis A commentary by Jane D’Arista assessing the actions of the Federal Reserve in managing the economic crisis Go to story | Go to homepage |
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US crops in a poor state
Dear MoveOn member,
Debbie Corbo recently created a petition on SignOn.org entitled "Responsible mortgage payers need help"—and we'd
like to know what you think of it.
The petition is addressed to The Virginia State House, The Virginia
State Senate, Governor Bob McDonnell, The United States House of
Representatives, The United States Senate, and President Barack Obama,
and reads:
Responsible mortgage payers need help.
Middle-class earners with 2nd mortgages not tied to Freddie/Fannie are drowning in underwater mortgages and no affordable/realistic refinancing options. When interest rates start to rise, look for a new wave of foreclosures from those currently stuck in variable-rate jumbo Home Equity Line of Credit loans.
Middle-class earners with 2nd mortgages not tied to Freddie/Fannie are drowning in underwater mortgages and no affordable/realistic refinancing options. When interest rates start to rise, look for a new wave of foreclosures from those currently stuck in variable-rate jumbo Home Equity Line of Credit loans.
Here's what Debbie wrote about it:
Where is help for responsible homeowners whose underwater mortgages are
not through Freddie/Fannie? We need refinancing options that:
A) don’t cost a fortune to obtain,
B) include 2nd mortgages (especially when held by a different lender than the primary mortgage lender),
C) include “Jumbo” loans,
D) and last, but not least–waive PMI requirements for homeowners who had previously gotten out from under PMI by paying down their mortgages before the housing collapse. PMI can cost hundreds of dollars each month, putting what could otherwise be an affordable mortgage payment out of reach.
Personal history…
We maxed out a Home Equity Line of Credit (HELOC/2nd mortgage) to pay for autism treatments for our son (not covered by medical insurance or the school system - that's another issue). Then came divorce during the housing valuation/market collapse, causing the Judge to make us tenants-in-common in 2009. The children and I remained in the home, I have made all mortgage payments since divorcing, never been late with either lender, and have zero debt other than the home (pay my credit card bills in full each month). I am financially responsible.
The two mortgages together (through separate lenders – Credit Union & local bank) put me in the category of needing a “jumbo” loan. The HELOC/2nd is extremely worrisome, since it makes up about 85% of the total debt, and is variable rate. When interest rates eventually start climbing, I will not be able to afford the HELOC payments and have been trying to head off this scenario by refinancing the two mortgages into a single loan that would give me a stable/affordable monthly payment. But consolidating the two mortgages into a fixed-rate jumbo mortgage with no PMI would require that I bring significant money to the table ($75K - $90K, depending on the details). Right.
So, my young teenage children and I sit with this sword of Damocles hanging, wondering how long we will be able to stay in the home, the home they have been in since birth.
A) don’t cost a fortune to obtain,
B) include 2nd mortgages (especially when held by a different lender than the primary mortgage lender),
C) include “Jumbo” loans,
D) and last, but not least–waive PMI requirements for homeowners who had previously gotten out from under PMI by paying down their mortgages before the housing collapse. PMI can cost hundreds of dollars each month, putting what could otherwise be an affordable mortgage payment out of reach.
Personal history…
We maxed out a Home Equity Line of Credit (HELOC/2nd mortgage) to pay for autism treatments for our son (not covered by medical insurance or the school system - that's another issue). Then came divorce during the housing valuation/market collapse, causing the Judge to make us tenants-in-common in 2009. The children and I remained in the home, I have made all mortgage payments since divorcing, never been late with either lender, and have zero debt other than the home (pay my credit card bills in full each month). I am financially responsible.
The two mortgages together (through separate lenders – Credit Union & local bank) put me in the category of needing a “jumbo” loan. The HELOC/2nd is extremely worrisome, since it makes up about 85% of the total debt, and is variable rate. When interest rates eventually start climbing, I will not be able to afford the HELOC payments and have been trying to head off this scenario by refinancing the two mortgages into a single loan that would give me a stable/affordable monthly payment. But consolidating the two mortgages into a fixed-rate jumbo mortgage with no PMI would require that I bring significant money to the table ($75K - $90K, depending on the details). Right.
So, my young teenage children and I sit with this sword of Damocles hanging, wondering how long we will be able to stay in the home, the home they have been in since birth.
Can you click to let us know what you think?
We'll decide whether to send this petition out to additional MoveOn members in your area based on your feedback.
In case you haven't heard about it, SignOn.org is a new website where anyone can start an online petition and share it with
friends and neighbors to build support for their cause.
Thanks for all you do.
–Steven, Tate, Stephen, Elena, and the rest of the team
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