Author of "The Mortgage Game"
A client had an adjustable loan for $1,500,000, which she obtained 10 years ago. She received it with stated income and was not currently qualified for refinancing into a fixed rate.
We suggested that she should not worry since after a fixed period is over, her adjustable rate will be even lower than what she is currently paying. The rates might go up, but it will not happen overnight. Meanwhile, enjoy what you have and pay more off if you can.
“Wine improves with age–people grow wiser.”
When we ask a person’s age in English, the question is “How old are you?” In Spanish, the question is “¿Cuántos años tienes?—How many years are you?” In Russian, “SkOl’ka vam let??—How many summers are you?” In Hebrew, “Ben kama ata?” or “Bat kama at?”—“How long have you been a son/daughter?”
The Torah tells a story of the meeting between the Pharaoh and Joseph’s father Jacob, during which the Pharaoh inquired about Jacob’s age.
“How many are the days of the years of your life?” Jacob answered the Pharaoh, “The days of the years of my sojourns have been a hundred and thirty years” (Genesis 47:8-9). In other words, Jacob measured his life by his daily journeys—experiences. We age every day, but we also become wiser every day as we hopefully learn from our journeys.
There is a story about two little boys playing in the sand box. The bigger boy asks his friend, “How old are you?” The other boy answers, “I do not know”. “Do you like girls?” The other boy responds, “No.” “Then you are probably three, since I am already four.”
This past January 13th, my life journey was measured to be 68 years or about 24,769 days. During my life, I’ve learned many things and I’ve had various experiences. Before becoming a mortgage broker over 31 years ago, I had ten different occupations. I’ve also had many years of schooling and have had great teachers outside of schools, starting with my parents. When I got married at age 20, I gained new teachers: my wife, her mother, and then our two daughters. I constantly learn from a variety of teachers in books I read or listen to in the car. Wisdom cannot be contained. Wise people always share their knowledge.
One of my New Year’s Resolutions is to read and listen to more books, but also to share with you some of the knowledge I acquire. I will start with Michael Pollan’s “Second Nature: A Gardener’s Education”, which I have just finished listening to on an audio book I borrowed from the library. Though we have a garden, I do not have time to be a gardener. I decided to listen to Michael Pollan’s book because I appreciate his wisdom. He is the best-selling author of “The Botany of Desire”, and many other books. “Second Nature reads like brilliant entertainment, but it is serious wisdom.” Wrote Simon Schama, Boston Globe.
I completely agree with him. The book gives a lot of gardening advice, which also parallels as an outlook on life and business in general. It describes in detail how to deal with weeds and the animals that try to destroy the hard gardening work by understanding that we all are part of an ecological system and success in gardening as well as in life is in trying to find the balance.
P.S.
You can find “Where Wisdom Comes From” in my previous story. I not only like to read books, I also photograph others who like to do it as well. Enjoy!
Do Not Keep Me As A Secret!
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If you want to have lower monthly payments, please do not wait! Lenders are getting busy. The sooner you start, the sooner we will be able to help you get what you want.
“Humans are a bundle of emotions. Do not let them control you.”
This remark brought memories about a four-unit building we owned on Guerrero Street in Noe Valley, which we sold years ago. At that time, business was slow and we were struggling financially. The building’s roof was leaking and we accumulated $80,000 in credit card debts, and the mortgage was 11%. We were very happy to sell and pay off our debts. Today, the same building that we sold for $550,000 is worth about $3 million. Am I upset? Not a bit. In my view, the purpose of life is to have experiences and learn from them. If in the long run, we are financially ahead, it only means that after we die, someone will have a good time with their inheritance, after taxes are paid.
Actually, the reason that prompted me to write this story was what happened after the party. When we arrived at the Waterfront Restaurant on Embarcadero, there was a long line to the adjacent parking lot. The sign said $14 and I did not have enough cash with me. The rain had stopped, and I saw that across the street there was plenty of parking and I thought that after 7:30pm, it would be free (I temporarily forgot that we live in San Francisco). As we walked back to the car at 9:30pm, I was very happy that we did not have to wait in line again for the attendants to get our car out. I saved $14 bucks and my car was parked facing in the direction that I had to drive home. However, when I approached the car, I noticed that there was broken window glass on the ground and immediately realized that it was actually my car that was vandalized. The broken glass was all over the backseat. There was nothing to steal. My briefcase, which I “hid” in the back of the SUV was opened, but there were only papers. In addition, I also found a $66 parking ticket on the windshield. Literally, the rain stopped and we drove back with an open (broken) window with the sound of the wind in our ears.
Presumably, most people would be rightfully upset in similar conditions. I was not. I reasoned that I would be able to contribute to the well-being of the glass repairman, plus help my beloved city with my small contribution for the parking ticket. And as far as the thief who broke into my car is concerned, he ended up with nothing. The next morning, I spent a few hours getting my car to the garage, dealing with the insurance and getting a rent-a-car. I also found out that as a result of the storm, our office building had a power failure and we could not be there anyway.
I hope that my story will help you see things in a brighter light, and you will encourage your friends to call me. I promise they are not going to be upset about their mortgage after speaking with me.
P.S.
While in the restaurant which is across from the Bay Bridge, I had an opportunity to check how my new pocket camera, a Canon G-12, can perform. You might like my artistic interpretation of the familiar view of the bay bridge. Enjoy!
Do Not Keep Me As A Secret!
Smile And Please SHARE It With A Friend!
Most residential loans are vested either as Joint Tenancy or Community Property for husbands and wives. Some lenders allow revocable trusts. Tenants-in-common are used for the purchase of units as a group of investors. Conventional residential lenders do not allow other vestings. For these, we have special solutions which are priced differently and offer other underwriting criteria.
Where Wisdom Comes From
“A smart person knows how to solve problems. A wise one knows how to prevent them.”
I am blessed with good teeth, perhaps because I take care of them on regular basis. For the last 33 years, my dentist Steven Oswald has ensured me that they’ve stayed in such good shape. On my last routine visit, the dental technician Jamal took an x-ray and pointed out that I needed extra images since I still have both of my wisdom teeth. (No wonder some consider me to be a wise guy!) I asked Jamal where he thought the wisdom was coming from? “It is given to those who listen to their Mama”, he said. And then he added, “Wisdom comes to those who seek advice”. Wow! What can it get simpler than that? And then of course, it depends from whom you are asking the advice, and whether you are willing to listen to it.
I started writing this story during a dinner at Hayes Bar and Grill. This is our favorite restaurant to go to before concerts at the Symphony or Opera. Fred, the host who is a regular reader of my emails, noticed me writing and asked about the subject. When I told him, “Where Wisdom Comes From”, without skipping a beat he said “From good food, of course.”
I believe that with age, people are becoming wiser not older. There is a story to support my belief.
In a faraway kingdom, a King decided that the old people were a burden to society and he declared to kill anyone over the age of 65. One young man decided to disobey the King’s decree and hid his father in a cave where he sustained him. Soon after that, the King was informed that there was a heavy chest seen in the water of the river close to the shore. He demanded at once to have it pulled out, but no one seemed able to do so. Then, the King promised a huge reward for the effort. The young man came to visit his father in the cave and hold him the story.
“Is there a tree growing by the river?” The father asked. “Go to the King and tell him that the chest is on this tree.”
The Young man went to the King and told him what he heard from his father and claimed the reward.
“Who was this wise man? Who told you about the location of the chest?” Asked the King.
Trembling for the life of his father, the young man admitted the source. Immediately, the King annulled his decree and since then wise-aged people were treated with respect.
P.S.
According to a Bible story, when King Solomon inherited his throne, he had a dream in which he requested from God, “May You grant your servants an understanding heart, to judge your people, to distinguish between good and evil (1 Kings 3:5). Since he did not ask for riches, long life or death of his enemies, God said to him “Behold! I have given to you a wise and understanding heart.” (1 King 3:12). I think that it was through his wise and understanding heart that President Obama made the decision to restore a relationship with Cuba, which made many wise women I met in Havana very happy. You can see some of them here and more in my book Soy Cubano, I am Cuban. It is available as an e-book for $9.99 on BLURB or you may also purchase a hardcopy here.
Have a Happy, Healthy, Prosperous, and Wise New Year!
Do Not Keep Me As A Secret!
Smile And Please SHARE It With A Friend!
There are many banks who offer loans for apartment buildings, but some are more flexible than others:
What Kwanzaa, Christmas, and Hanukah Have In Common
“When we are surrounded by the darkness of the short days of winter, we bring light into our lives to remind us about the upcoming spring.”
Today, Friday, the 26th day, the next day after the celebration of Christmas, and two days after the last day of Hanukah is another holiday. Kwanzaa was first celebrated in 1966-67. The week-long celebration honors African heritage in African-American culture. One of the traditions is to light seven candles in a candleholder called a kinara. The tradition is similar to lighting candles on Hanukah (which is one day longer than Kwanzaa). On January 1st, the end of the holiday, there is a tradition to give gifts. Many celebrate this holiday in addition to Christmas.
As we can see, the obvious similarity between the three holidays is the giving of presents. All three were originated by the decree of men (unlike some of the holidays decreed by God in the Torah). But there is something else—last week I wrote about “Where To Find The Light”.
What really unites all three remarkable events is light. During the eight days of Hanukah, also known as the “Festival of Light”, many Jewish households and even public places like Union Square in San Francisco, are adorned by the candelabra called a Hanukiah and every day during the holiday, oil lamps or candles are lit (some use electrical lights).
Before and during Christmas, people decorate the inside and outside of their homes with beautiful lights. When I grew up in Riga, we decorated a fir tree with candles and other decorations to celebrate New Year’s. Candle light is used to celebrate Kwanzaa. Since candle light is only visible at night, their purpose is obvious. Thus the celebration of every holiday has a clear mission—to bring light to brighten our lives. As a reminder that it does not matter how dark it is outside, we can always have light.
In ancient times, the source of the light was oil. But oil itself cannot bring any light. Nor can beeswax. What all of these energy containing materials need is human contribution—the wick.
Throughout the human existence, we perfected the use of the sources of light. But we also have to remember that too much light can destroy our wellbeing. Many fires were caused by candles on the fir trees. When the first light (I wrote about last week) was created by God (according to the Torah), it was too much for the humans to handle. Therefore, it was replaced with the sun and the moon. However, the intrinsic knowledge of how to bring light to our lives remained (throughout the holidays). We can celebrate everyday by looking for the source and bringing it out to brighten the lives of others.
The end of the year celebrations are filled with beautiful decorations in and out of our homes. Many use very elaborate color themes, which obviously can be only visible at night. I hope you enjoy some of my light interpretations.
It’s difficult to buy a property in San Francisco for $430,000. But according to Ildiko Pali, real estate broker with Princeton Real Estate, it is possible to find properties around San Francisco in this price range. The advantage of those Fannie Mae loans vs. FHA loans are not only less down payment, but the amount of the mortgage insurance is also much less.
Where To Find The Light
“We are surrounded by light–sometimes we just need to open our eyes.”
In the Torah, the manifestation of light was the first act of the creation of our world.
“God said, ‘Let there be light and there was light. And God saw the light and it was good, and God separated between the light and between the darkness” (Genesis 1:3-4).
What is the meaning of this primordial light? After all, the sun and the moon were created only on the fourth day.
“And God said, “Let there be luminaries in the expanse of the heavens, to separate between the day and between the night, and they shall be for signs and for appointed seasons and for days and years” (Genesis 1:14).
Today December 19th, Jews and their friends are celebrating the third day of the holiday, Chanukah, which is known as “The Festival of Light”. It is connected with events that happened over 2000 years ago. A small group of Jews started a revolt against the Syrian Greek Seleucid Empire and in 166 BC, released the Holy Temple in Jerusalem. During the rededication of the temple, the large menorah had to be lit every day, but there was only one container with the purified oil. Miraculously, it lasted for eight days until new oil was produced. The festival is observed by the kindling of the lights of the nine-branched menorah or Chanukiah, one additional light on each night of the holiday professing to the eighth on the final night. The additional (ninth) light is called a shamash or attendant, and is used to light the rest of the lights.
There are a number of traditions associated with this holiday. Since the original light in the Temple was lit with oil, there are “oily” foods associated with the holiday, such as doughnuts and latkes (potato pancakes). Though latkes are not necessarily good for those who are concerned about their waistlines, they can make a delicious meal (especially prepared by my wife, Elfa).
But what does this story have to do with the primordial light? As we’ve seen before, the good, the light, and the darkness were the basic elements of the creation of the world. And it is man’s and woman’s (who were created on the sixth day) task to always strive to find the good by separating the light from the darkness.
Happy Chanukah! Enjoy the latkes and stay dry.
The word “photography” comes from the Greek word phos, photos—light and graphos—writing. It literally translates to writing with the light—or to be more accurate, drawing or painting with light. To support this story, I’ve used Chanukah candles, which replaced the oil for the menorah. Light, my camera, and software on my computer were used to create the painting of my vision. Enjoy!
Do Not Keep Me As A Secret!
Smile And Please SHARE It With A Friend!
