Lock his ass up!

A So. Fla. Man Asked Cabbie For A Ride To Memphis, Then Refused To Pay

A South Florida cabbie was tricked into making a 20 hour trip from Miami to Western Tennessee over the weekend. And he ended up getting stiffed, not getting a penny for his efforts.

CBS4'S Stephen Stock spoke with the cab driver victim by telephone and his colleagues on the streets about getting shorted on a very long trip.

From 7 at night to 4:30 in the morning, 6 days a week for 29 years Jean Desir has driven a taxi on the streets of Miami.

Despite two robberies, one at gunpoint, and countless riders who've stiffed him on fares, this past year has been toughest of all economically.

"This year has been really really hard," the 54 year-old said, "really hard."

That's what makes the story of Desir's fellow taxi-driver so tough to swallow this holiday season.

Police say Miami resident Luciolo Perez convinced a cabbie from Flamingo Taxis to drive him to Memphis, Tennessee. That's a 20 hour cab ride to the middle of the country.

Then police say Perez stiffed the driver of $3,000 in cab fare, plus expenses such as gas and meals, which the cabbie paid with his own credit card.

CBS4 News spoke by phone with the cab driver, who drove this taxi half way across the country and back.

His name is Lelis Almeira.

Almeira refused CBS4's request for an on-camera interview, saying he was tired frustrated and angry and, "I just want to put this incident behind me."

"(The money came) out of his own pocket," said Almeira's colleague at Flamingo Taxi, Joel Lubin.

That's why Flamingo Taxi dispatcher Lubin is angry too. He said that a scam such as this hurts drivers especially hard, given the tough economic times they've suffered through this year.

"He didn't have to do it," Lubin said. "He spent all his money for the expenses. He put everything for meals on his credit card expecting to get paid."

CBS4 reporter Stephen Stock asked: "And this happens?"

"This happens," Lubin said. "He's kind of lost faith in humanity. And I don't blame him."

"We ain't going to promise something we don't have," said the woman in Memphis whom Perez had traveled to visit, Nellie Rose.

Rose insists she didn't have the money and made that clear to Perez.

"I don't know why the cab driver and him came on (to Memphis).That's between them," Rose said.

Memphis police arrested Perez and charged him with theft over $1,000.

Now, in addition to trying to find $3,000 in cab fare, Perez must find enough money to bond out of jail.
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Getting paid for tripping over your own son

Well after running across this Stella Awards web site I must admit that I was curious to see more of these outlandish lawsuits and verdicts in the U.S. You know, the kinds of cases that make you scratch your head and wonder what was the jury thinking but better yet what was on the attorney's mind when this lady limped into his office and told her story that amazed the lawyer so much that he said that we can win this case! Please be advise that this was not number one but number 7, damn.

7TH PLACE :

Kathleen Robertson of Austin, Texas was awarded $80,000 by a jury of her peers after breaking her ankle tripping over a toddler who was running inside a furniture store. The store owners were understandably surprised by the verdict, considering the running toddler was her own son.

Now maybe i am not understanding all of what this case is really bringing to the table. I have a bad ass little kid that is running around the store and I tripped on him and fell, then broke my leg because of my brat! Maybe I missed it does anyone else see anything wrong with this crap? I would have tossed the lawyer and her out of my court room!

Whats next, to sue a company because they did not tell you, you could get excessively drunk if you drinking a fifth of Jack Daniels? I think I smell one coming!
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The Stella Award Winner, Mrs Merv Graziniski

So you don't know what the Stella Awards are? Do you remember back in 1992 when a 81-year-old, Stella Liebeck who spilled hot coffee on herself and successfully sued the McDonald's in New Mexico where she purchased. You remember..... she took the lid off the coffee and put it between her knees while she was driving. Who would ever think one could get burned doing that - right?

Well not only did she get burned but she sued Mc Donalds for 1.5 million and won. So that is where the Stella Awards came from... So now when ever someone does something bone headed action sues and wins then they are in line to receive the world famous Stella Award!

This year's runaway First Place Stella Award winner was Mrs. Merv Grazinski, of Oklahoma City, Oklahoma, who purchased a new 32-foot Winnebago motor home. On her first trip home from an OU football game, having driven onto the freeway, she set the cruise control at 70 mph and calmly left the driver's seat to go to the back of the Winnebago to make herself a sandwich. Not surprisingly, the motor home left the freeway, crashed and overturned. Also not surprisingly, Mrs. Grazinski sued Winnebago for not putting in the owner's manual that she couldn't actually leave the driver's seat while the cruise control was set. The Oklahoma jury awarded her, are you sitting down, $1,750,000 PLUS a new motor home. Winnebago actually changed their manuals as a result of this suit, just in case Mrs. Grazinski has any relatives who might also buy a motor home.

The ideal that some individuals have won these Stella Awards because they got paid for their own mistakes blows my mind. So picture this, that a person actually was driving along the highway and put the cruise control on and got up and walked away from the wheel. Now it was not enough that they brought that hell on themselves when they crashed that vehicle, but then they decided that they could sue the manufacture for not being clear in the owners manual... Now that is not the straw that broke the camel back, but finding twelve jury men and women that agreed with the notion is unreal. Some people manage to hit the lottery in their own way, she hit the lottery just by being a dumb-ass, a rich dumb-ass that is!

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Public Health insurance option

A public health insurance option (public insurance option or public option for short) is a proposed health insurance plan that would be offered by the U.S. federal government. In Affordable Health Care for America Act (H.R. 3962), and its predecessor H.R. 3200, it will be a Qualified Health Benefit Plan competing with similar private insurance plans in an Internet based exchange or market place, enabling citizens and small businesses to purchase health insurance meeting the minimum federal standard. Persons covered by other employer plans or by state insurance plans such as Medicare will not be eligible to obtain coverage from the exchange and therefore cannot obtain this form of federal health insurance. The federal government's health insurance plan will be financed entirely by premiums without subsidy from the Federal government. ^[1] The plans stated in the Senate HLP Committee and H.R. 3962, the two that contain clauses establishing a public insurance option, require the repayment of "seed money" to the Treasury over a ten year period.^[2]

I don't know if I agree with this public option ideal, but one thing that I do know is that millions of people are running around this country without health insurance. The word for today is to bring the cost of health insurance down. Conservatives seem to believe that if we can have open competing of insurance companies across state lines, it would drive the cost of insurance down. Reality is that we have needed this years ago... I personally believe that if their was a true regulation on the health cost across the board that insurance could be affordable for everyone. What good does it do to make $50,000 dollars a year and you can not afford to provide insurance for your family. When a man has to make the decision to eat or have insurance, and he choose to eat, when does some one step up and say wait minute that is not right.

Life liberty and the pursuit of happiness, anything less than that needs to be changed, by any means possible!

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More Teachers are getting caught having sex with teenage boys!

What gives that so many woman are willing to throw their lives away to have sex with teen age boys. At one point in time it was very rare for this kind of thing happening. Now these women are so bold as to have sex on the school grounds in parked cars.
Now it seems that once every 2 or 3 months you hear about another woman who got caught-up and she is looking like a fool! Many of these women are very attractive and it leaves me saying wow. Maybe society has changed to allow women to think that this kind of behavior is the norm now.
What ever the case the problem, it is becoming more open and apparent. I just have to ask is their no shame?

Gov Mark Sanford wifeJenny has filed for divorce

South Carolina's first lady, Jenny Sandford a former Wall Street vice president who helped launch her husband's political career, announced today she is filing for divorce months after his tearful public confession of an affair with an Argentine woman.

"This came after many unsuccessful efforts at reconciliation, yet I am still dedicated to keeping the process that lies ahead peaceful for our family," Jenny Sanford said in a statement. A spokesman for her husband, governor Mark Sanford, had no immediate comment.

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Why Choose A Hard Money Loan

Why do most people chose a Hard Money? Actually because they can not obtain traditional financing. Generally speaking there are two types of financing that a person can obtain obtain Prime and Subprime.

First, all loans Prime or Subprime needs ICE (Income, Credit and Equity) to get approved and to close. So What is a Prime Loan? This is a loan that offers the best rates and situations for the borrower who falls into the category of having a credit over 675, income and equity. He basically fits all guidelines of that lender.

A sub-prime lender is one who made loans to borrowers who did not qualify for loans from mainstream lenders. Some were independent, but most were affiliates of mainstream lenders operating under different names. I use the past tense because at the time of the most recent revision of this article, virtually all sub-prime lenders had disappeared.

Although there is no single, standard definition, in the United States subprime loans are usually classified as those where the borrower has a FICO score below 640.

So now comes the question what is a hard money loan? Hard Money loan is a specific type of asset-based loan financing through which a borrower receives funds secured by the value of a parcel of real estate. Hard money loans are typically issued at much higher interest rates than conventional commercial or residential property loans and are almost never issued by a commercial bank or other deposit institution. Hard money is similar to a bridge loan, which usually has similar criteria for lending as well as cost to the borrowers. The primary difference is that a bridge loan often refers to a commercial property or investment property that may be in transition and does not yet qualify for traditional financing, whereas hard money often refers to not only an asset-based loan with a high interest rate, but possibly a distressed financial situation, such as arrears on the existing mortgage, or where bankruptcy and foreclosure proceedings are occurring.

Many hard money mortgages are made by private investors, generally in their local areas. Usually the credit score of the borrower is not important, as the loan is secured by the value of the collateral property. Typically, the maximum loan to value ratio is 65–70%. That is, if the property is worth $100,000, the lender would advance $65,000–70,000 against it. This low LTV provides added security for the lender, in case the borrower does not pay and they have to foreclose on the property.

A hard money loan is a species of real estate loan collateralized against the quick-sale value of the property for which the loan is made. Most lenders fund in the first lien position, meaning that in the event of a default, they are the first creditor to receive remuneration. Occasionally, a lender will subordinate to another first lien position loan; this loan is known as a mezzanine loan

or second lien.

Hard money lenders structure loans based on a percentage of the quick-sale value of the subject property. This is called the loan-to-value or LTV ratio and typically hovers between 60 and 70% of the market value of the property. For the purpose of determining an LTV, the word "value" is defined as "today's purchase price." This is the amount a lender could reasonably expect to realize from the sale of the property in the event that the loan defaults and the property must be sold in a one- to four-month timeframe. This value differs from a market value appraisal, which assumes an arms-length transaction in which neither buyer nor seller is acting under duress.

Below is an example of how a commercial real estate purchase might be structured by a hard money lender:

65% Hard money (Conforming loan)
20% Borrower equity (cash or additional collateralized real estate)
15% Seller carryback loan or other subordinated (mezzanine) loan

Hard Money is a term that is used almost exclusively in the United States and Canada where these types of loans are most common. In commercial real estate, hard money developed as an alternative "last resort" for property owners seeking capital against the value of their holdings. The industry began in the late 1950s when the credit industry in the U.S. underwent drastic changes (see FDIC: Evaluating the Consumer Revolution).

The hard money industry suffered severe setbacks during the real estate crashes of the early 1980s and early 1990s due to lenders overestimating and funding properties at well over market value. Since that time, lower LTV rates have been the norm for hard money lenders seeking to protect themselves against the market's volatility. Today, high interest rates are the mark of hard money loans as a way to compensate lenders for the considerable risk that they undertake.

Commercial hard money is similar to traditional hard money, but may sometimes be more expensive as the risk is higher on investment property or non-owner occupied properties. Commercial Hard Money Loans may not be subject to the same consumer loan safeguards as a residential mortgage may be in the state the mortgage is issued. Commercial hard money loans are often short term and therefore interchangeably referred to as bridge loans or bridge financing.

Commercial hard money lender and bridge lender programs are similar to traditional hard money in terms of loan to value requirements and interest rates. A commercial hard money or bridge lender will usually be a strong financial institution that has large deposit reserves and the ability to make a discretionary decision on a non-conforming loan. These borrowers are usually not conforming to the standard Fannie Mae, Freddie Mac or other residential conforming credit guidelines. Since it is a commercial property, they usually do not conform to a standard commercial loan guideline either. The property and or borrowers may be in financial distress, or a commercial property may simply not be complete during construction, have its building permits in place, or simply be in good or marketable conditions for any number of reasons.

Some private investment groups or bridge capital groups will require joint venture or sale-lease back requirements to the riskiest transactions that have a high likelihood of default. Private Investment groups may temporarily offer bridge or hard money, allowing the property owner to buy back the property within only a certain time period. If the property is not bought back by purchase or sold within the time period the commercial hard money lender may keep the property at the agreed to price.

Traditional commercial hard money loan programs are very high risk and have a higher than average default rate. If the property owner defaults on the commercial hard money loan, they may lose the property to foreclosure. If they have exhausted bankruptcy previously, they may not be able to gain assistance through bankruptcy protection. The property owner may have to sell the property in order to satisfy the lien from the commercial hard money lender, and to protect the remaining equity on the property.

From inception, the hard money field has always been formally unregulated by state or federal laws, although some restrictions on interest rates (usury laws) by state governments restrict the rates of hard money such that operations in several states, including Tennessee and Arkansas are virtually untenable for lending firms.

Hard Money Mortgage loans are generally more expensive than traditional sub-prime mortgages. However all mortgage loans are not necessarily considered to be a high cost mortgage. Generally a hard money loan carries additional risk that a borrower is aware of. Rather than selling the property a borrower will opt to keep the loan and if a lender is willing to assume some of the risk by offering a hard money loan.

The rate is not dependent on the Bank Rate. It is instead more dependent on the real estate market and availability of hard money credit. As of 2008 and for the past decade hard money has ranged from the mid 12%–21% range[1]}}. When a borrower defaults they may be charged a higher "Default Rate". That rate can be as high as allowed by law, which may go up to or around 25%–29%. Some private lenders will collect a prepayment penalty and some will not.

Points on a hard money loan are traditionally 1 to 3 more than a traditional loan, which would amount to 3 to 6 points on the average hard loan. It is very common for a commercial hard money loan to be upwards of four points and as high as 10 points. The reason a borrower would pay that rate is to avoid imminent foreclosure or a "quick sale" of the property. That could amount to as much as a 30% or more discount as is common on short sales. By taking a short term bridge or hard money loan, the borrower often saves equity and extends his time to get his affairs in order to better manage the property.

All hard money borrowers are advised to use a professional real estate attorney to assure the property is not given away by way of a late payment or other default without benefit of traditional procedures that would require a court judgement.

Now with all that information, the two reasons that people choose hard money loans.

1. Temporary Financing

2. They need Immediate financing .

3. They can not obtain traditional financing.

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