12/19: Boxed In With Holiday Pressures

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Entry posted by kkktookmybabyaway · December 20, 2006

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• So I bought three $25 Target gift cards for my half-brother’s three kids. Long story short: He lives in Nebraska and is a doctor. He got divorced because his ex-wife is a psycho and I rarely talk to him. Not because I hate him, but he’s a DOCTOR with THREE KIDS. There’s more important things to do in life than call your little half-brother to talk about the Steelers/Pirates/Penguins. In fact, he was a groomsman at my wedding, and he’s one of the few people in my family that graduated an educational institution other than high school. Well, the better half and I bought these gift cards about two weeks ago, but as of yesterday morning they weren’t mailed out. Why is that? Because Mrs. kkk wants to put each one of them in a f’n gift box. Like my brother’s two kids that are 7-8 years old are going to give a shit. But no, we just have to have them in boxes. Well the better half went out this past weekend to the local dollar store to get these stupid boxes. Then she discovered that these boxes, when opened, were filled with mold and this brown shit. Did she take that as an omen that maybe gift boxes might not be necessary in this instance of gift-giving? Of course not. She went to several other stores to find these gift boxes, but nobody had what she was seeking. So yesterday afternoon she began to CRY because this holiday season wasn’t going how she wanted it to be. Seemingly every day when she’s not at her second job she’s doing something with her mom/niece/etc., whether it’s holiday shopping, going to some Christmas school concert, or whatever. And what would happen if Mrs. kkk would actually turn down one of these Christmas concerts or trips to the mall? She would feel guilty. So when she goes to all these events/errands, this means she has no time to do what she really wants to do for the holidays – baking cookies, sending out cards, buying gift boxes for gift cards from Target, etc. The good news is that she finally relented about those stupid gift boxes, and I’m happy to report that I mailed an envelope with the three gift cards enclosed, and they are on their way to Omaha.

But the fun doesn’t stop there. A few days ago I made a reference to re-gifting a Blockbuster card for a co-worker at the better half’s workplace and was given a rude awakening about the policy Blockbuster has regarding gift cards. After going to a nearby Blockbuster to find out how much shelf life our gift card had left, I found out that there was only a few days remaining(!). After informing the better half of this, she went out and bought a much cheaper gift card for her co-worker. The reason she went down on the price is that she’s getting a bad vibe from this person. It’s one of those cases where this person isn’t showing up for work half the time, and in a way I’m actually proud of her because Mrs. kkk is one of those people who just want everyone to like her. Normally the better half would be bending over backwards for every co-worker, cashier clerk and nearby motorist to approve of her existence, but after her last job I think she’s starting to become a bit jaded with seeking approval from anyone not her mother. Yay, I guess. Oddly enough, I could give a rat’s ass what my family thinks of me, let alone strangers, so perhaps there is some truth to that whole “opposites attract” thing.

• The Denver Nuggets just got Allen Iverson from the 76ers.

A day after losing one superstar for a month, the Denver Nuggets got an even bigger one _ Allen Iverson. The four-time scoring champion was traded by the Philadelphia 76ers to the Nuggets for Andre Miller, Joe Smith and two 2007 first-round picks. The Nuggets also get Ivan McFarlin.

Bob Ryan on PTI this afternoon echoed my thoughts about this transaction. Denver now has a nice little team with two great scorers, but they still aren’t going anywhere near the NBA finals. I must say that I’ve never had a problem with Iverson. The guy plays hard and never seemed to really have a strong supporting cast. Sure he likes to shoot the ball, but that’s what he’s supposed to do. I’m sure he’d be a bastard to coach and all that, but I don’t care. I remember watching some playoff games where he would get brutalized while driving the lane, yet he would get up and do it again next time down the court. Oh well, he’s financially set for life, so I really don’t give a shit where he plays.

• I’ve said it before and I’ll say it again. You get an adjustable rate mortgage/subprime loan and you deserve what you get. I’m supposed to feel sorry for these people? Fuck that. Go blame your woes on George W. Bush.

A new Center for Responsible Lending (CRL) study reveals that 2.2 million American households will lose their homes and as much as $164 billion due to foreclosures in the subprime mortgage market. Titled, "Losing Ground: Foreclosures in the Subprime Market and Their Cost to Homeowners," the CRL study is the first comprehensive, nationwide review of millions of subprime mortgages originated from 1998 through the third quarter of 2006.

CRL's research suggests that risky lending practices have triggered the worst foreclosure crisis in the modern mortgage market, projecting that one out of five (19.4%) subprime loans issued during 2005-2006 will fail.

"In the subprime sector, the most vulnerable borrowers are sold the most dangerous loans," said Mike Calhoun, CRL president. "At $164 billion, the losses from foreclosures could pay for the college educations of four million kids. For families who lose their houses because their loans fail, savings and economic security will be way out of reach."

The report discusses a number of factors that drive subprime foreclosures -- in the majority of cases, borrowers receive high-risk loan features, packed into an adjustable rate mortgage with a low start rate, that is approved without considering whether the homeowner can afford to pay the loan after the rate rises.

Adjustable rate mortgages known as 2/28s (or "exploding ARMs") operate with an initial "teaser" rate for two years, followed by a steep payment increase. And, regardless of a borrower's credit history, the almost one- quarter of American families who get subprime loans find them crammed with other high-risk terms such as prepayment penalties, limited income documentation, and no escrow for property taxes and hazard insurance.