“A woman is the full circle. Within her is the power to create, nurture, and transform.”–Diane Mariechild
It is pure coincidence that this email appears on March 8th–the International Day of Women celebrated in the former Soviet Union. When we were in Cuba, we heard that there were going to be elections on the following day. Since we did not watch local TV, or read Cuban newspapers, we had no clue that this was happening. Some tourists we met commented that not much is expected to change. I promptly forgot about this until on February 13th when I was back in San Francisco, and read an interview with retired Cuban President Fidel Castro in the S.F. Chronicle. Castro is 86 and ailing. In the article I read, “…he applauds the Cuban People for electing more women than men in the 612-sect National Assembly”. This really struck me. How much would have changed?
The former Guerilla leader is applauding that women have gotten more power in the government. The change is not only in Cuba. There are 97 women currently serving in the 113th US Congress compared to the 90 that served during the 112th US Congress. I feel that these changes will help shift the overall energy to making the world a less aggressive with a more consolatory female touch. Nevertheless, according to the article in the S.F. Chronicle on March 1st , Carly Fiorina, who was CEO of Hewlett-Packard in 1999 and the first woman to run a Fortune 20 company, sees a double standard.
When it comes to the mortgage business, it seems it is still run and controlled by the rigid standards set by men. Many of my female clients have been challenged to refinance their mortgages primarily because of a lack of verifiable income–despite the fact that they consistently make their mortgage payments. Some, who are self-employed, like beauty professionals or consultants, were able to get stated income loans in the past. Those programs are mostly gone. Some borrowers try to modify their loans to lower the rate. What borrowers do not know is that banks cannot modify existing loans until borrowers stop their mortgage payments. Some loan originators in the banks give borrowers unofficial advice to stop payments to enable a modification.
First of all, there is no guarantee that the modification will take place; meanwhile, there is a risk that the bank will foreclose, (though there is a new rule that forbids banks to start a foreclosure during the application for a modification). In any event, the real problem is that if borrowers will have late mortgage payments, and their credit score will be affected. Since not only mortgage companies, but also many other entities like insurance companies, car loans, home rental agencies, and even employers check consumers credit, a low credit score can be a big liability.
Unfortunately, the only solution is to have a paying salary high enough to qualify for a loan, which is obviously a “Catch 22” with the high unemployment rate in California and the effects it has on women, as was explained in “Job cuts hitting women harder“, which appeared in the S.F. Chronicle on March 1st. Sometimes co-signers can help to get qualified for a loan. However, in some cases it is better to sell a home if it is possible and rent instead for lower monthly payments.
I write more about this situation and the solutions in my forthcoming book,“Mortgage Solutions for Smart People: 5 Easy Way to Get a Loan”. If you need assistance, I know two powerful women who can help you–Ildiko Pali, who is a realtor and a short sale specialist, who can be reached at 415-923-7628 /[email protected]
If you are seeking a good person to help you with your tax issues, I recommend contacting Elizabeth Shwiff. She is the head of the CPA firm, Shwiff, Levy & Polo, LLP and can be reached at (415)291-8600 /[email protected]
P.S.
I travelled to Cuba with my “power woman”, my wife Elfa. We have been married for over 45 years and are partners in our business as well. She is also a talented artist and primarily paints and draws portraits. While she never expressed a strong interest in practicing the art of photography herself, through the years she has helped me work on my images with my photography software. Before our trip, I gave her a crash course and with my small pocket camera, she bravely followed me on our journey. In our past travels, she did not enjoy my frequent stops to take photos wherever we went.
Now…I had to wait for her.
Not only has she overcome her shyness and started asking people to photograph them, she was taking close-ups! After a few days, she told me that this year I will not have difficulty to find her a birthday present. A new photographer is born. Other than the one below when I caught Elfa in action, the great portraits in this email were taken by her.
P.P.S.
Are you coming with us to the Havana Jazz Festival on December 15-23rd of this year? Our group is growing. There is a limited number of participants. Last year, it was sold out. There are many other trips every month you can find on Cubaexplorer.com Those trips require specific legal documents and preparation. Please let me know if you cannot join us in December, but want to go a different month. I can help you with the paperwork. If you want to get great travel photos, I will teach you how–just join us on the trip to Cuba in December.
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