[Money-matters] Money Matters Thursday April 16 2009

Thu Apr 16 03:41:20 UTC 2009

NEW YORK (CNNMoney.com) -- The Obama administration's loan modification
program is finally underway.
The Treasury Department announced Wednesday the first six participants to
sign up for President Obama's plan. They include three of the nation's
largest banks: JPMorgan Chase (
<http://money.cnn.com/quote/quote.html?symb=JPM&source=story_quote_link>
JPM,
<http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/2608.html?
source=story_f500_link> Fortune 500), which will get up to $3.6 billion in
subsidy and incentive payments; Wells Fargo (
<http://money.cnn.com/quote/quote.html?symb=WFC&source=story_quote_link>
WFC,
<http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/2578.html?
source=story_f500_link> Fortune 500), $2.9 billion; and Citigroup (
<http://money.cnn.com/quote/quote.html?symb=C&source=story_quote_link> C,
<http://money.cnn.com/magazines/fortune/fortune500/2008/snapshots/2927.html?
source=story_f500_link> Fortune 500), $2 billion. The others are GMAC
Mortgage, $633 million; Saxon Mortgage Services, $407 million; and Select
Portfolio Servicing, $376 million.
Additional loan servicers will be added to the list over time, a Treasury
spokesman said.
Several major servicers, including JPMorgan Chase and Wells Fargo, said they
began modifying loans under the government initiative earlier this month.
CitiMortgage signed up for the program on Monday and will start processing
applications soon.
"We view this modification program as yet another incremental opportunity
for thousands of homeowners to preserve and maintain the dream of
homeownership," Wells Fargo said in a statement.
Distressed homeowners and housing counselors have been eagerly awaiting the
program's launch since Obama first announced it on Feb. 18. However, it took
weeks for the government to clarify the terms and for the financial
institutions to update their systems and start accepting applications,
frustrating many of those in trouble.
Billed as helping up to 9 million borrowers stay in their homes, the
two-part plan calls for servicers to reduce monthly payments to no more than
31% of eligible borrowers' pre-tax income or to refinance eligible mortgages
even if the homeowner has little or no equity. The government is allocating
$75 billion to subsidize part of payment reduction, as well as provide
thousands of dollars in incentives for servicers and borrowers to
participate.

Marc's Notes:
Look at all the familiar names signing up for this mortgage plan. They got
their taxpayer money and now move forward with the socialism of America.
Disgusting is what it is. Never mind the protests today from all of us
saying NO! to this type of bailout for deadbeats, they will go on to SAVE
THE BANKS.
The tax day tea party took to the streets today with limited coverage on the
national news media. Whatever was covered was at least SOMETHING so that's
better then nothing. Protests around the nation polarized at least some to
awaken the rest of us to the pillaging of our citizens of this great nation.
Hopefully with all of us pulling together we can make a difference and maybe
force change sometime in the future. Do what YOU can to help and I will
continue with the shows. Share this UPDATE with all your friends and have
them subscribe. After all, its free.

The market creeps past 8000 today, our line in the sand at least for now.
Can it hold it? Lets us see. 
The Obama plays are also creeping towards profit- finally~! I will let you
know when I intend to start selling this rally. Not yet. hold it    hold it
hold it ....
Oil   gold   silver   energy : dead today. But remember, if a recovery IS in
the making (which it is not)   if they THINK it is, these energy sources
will rally with precious metals and off to Hawaii you and I go !
Hold tight, more to come ! For now, the market is a dull neutral and boring
compared to what we saw in the last 6 months.  Enjoy the calm before the
next show.

Money Matters Show tomorrow- THURSDAY APRIL 16th     12.00 PM   PST    
89.5   105.1  FM or world wide on the web.        WWW.KVMR.ORG

Title: 
"You Want MORE?????????????????????!!!!!!!!!!!!!!!!"            (think
Oliver Twist)     

All for now, Talk to all of you tomorrow at noon- don't miss it~

Marc
.
Do Not Reply to this message directly.

Direct all questions or comments to Moneymatters at kvmr.org.  
All comments or questions must be less then 3 sentences in length and must
not contain any links or articles.

You can access past updates at:
http://mailman.jtan.com/pipermail/money-matters-l/

The views expressed here are opinions only. This update does not represent
KFOK or KVMR FM radios in anyway and should not be construed as an extension
of either station. It is a private email subscription and is produced by
Marc Cuniberti and does not reflect the views or opinions of the stations,
their management, underwriters or members. All issues regarding this email
should be sent to Marc Cuniberti and/or his agents.

This article is strictly for informational purposes only. It is not a
solicitation to make any exchange, buy or sell any precious metal products,
commodities, securities, stocks, warrants, options or other financial
instruments. Marc Cuniberti, author of this article, does not accept
culpability for losses and/or damages arising from the use of this
publication or any information contained herein. You are resonsible for your
investing. Perform due diligence on any firm you plan to send money to. Mr.
Cuniberti makes no claim as to the validity or soundness of any firm or
institution mentioned herein or on any of his publications or shows.
Investing involves risk. You can lose money. Please order up the prospectus
on any and all securities you may be planning to buy and do your own
research before investing. Mr. Cuniberti may or may not hold the securities
listed.

If you wish to send Mr. Cuniberti an email, please keep your emails to less
then 3 sentences and do not ask about specific holdings you may hold nor ask
him to comment on YOUR specific situation. You may submit general market
questions or concerns. He answers EVERY email sent to him within the
confines of these rules. Someone will respond to your email regardless of
what it contains so you will know we received it. We care about your
participation in Money Management Radio and Money Matters.

If you like what you hear on Money Matters, check out what else is happening
on your community radio station, KVMR, on Facebook.com. You'll be kept up to
date on special programming, events, discussion opportunities, and lots
more. Go to Facebook and type KVMR in the search bar

Produced and Hosted by Marc Cuniberti
Money Management Radio and Money Matters is the sole property of Marc
Cuniberti and all rights are reserved.
"Money Matters"  and "Your Money Matters" is aired throughout Northern
California and the State Capitol.
Marc and Money Matters has been featured on NBC and ABC television and on
various news programs and documentaries.
Northern California's  # 1   "alternative"  economic show.
"Know the Truth and the Truth Shall Set You Free"                  John 8:32
Carried on bandwidths:   89.5  105.1  95.1  103.7   FM Radios throughout
Northern California and the State Capitol.
Worldwide on the web at WWW.KVMR.ORG and on KFOK FM RADIOS

Where I buy some of my gold:   What I call "Possession Gold" .  
 I usually buy Gold Eagles, Buffalos, Kruggerands, Silver Maples. Gold
Pandas   Generic Rounds. Peace Dollars or Morgans. You may contact who I
use:
 <http://www.kfok.org./> Monex Deposit    David Feldberg  x 2216
4910 Birch St., Newport  Beach  Ca  92660
1 (800) 949 4653  (GOLD)   ext 2216     You may refer to Marc Cuniberti and
Money Matters and David will know what Marc recomends.
Take delivery and store in a safe place.  You may have 25 % of this amount
in silver and the remaining 75% in gold. I usually buy only generic 1 ounce
rounds or ounce bars, no collectibles. You may buy any 99 % pure gold or
silver assets but pay no more then a few percentage points over spot. Again,
buy NO Collectibles, No Margin account, No Commodity accounts. Take delivery
of standard coins only.
 <http://www.kfok.org./> 
 <http://www.kfok.org./> 
 <http://www.kfok.org./> 
 <http://www.kfok.org./> 

-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://mailman.jtan.com/pipermail/money-matters-l/attachments/20090415/2f83f7e8/attachment-0001.htm