is knocking out a few work issues before enjoying New Years in Vegas. 2009 here we come - Happy New Year everyone! Prospero ano...

is spreading the word about an incredible opportunity in China, investing in a WiMax build-out at the 2,500 largest universities.

had a nice chill day, watching football and knocking out some chores. Pretty happy with the Dolphins!

is hanging with the fam in Riversiiiiiiiide.

just uploaded all the cruise pictures to Facebook for those of you who are interested.

is back in SoCal, tired and tanned and working on getting his 'land legs' back.

Those struggling under a mountain of debt may not be aware of the various options available to get out of that debt. Between declaring bankruptcy, going for credit counseling, or starting the debt settlement process, we think the most sound evidence for success points toward debt settlement.

We are also convinced that it is much easier on you, as well as guarantees you the most reduced amount of debt, to have a team of professionals experienced in loan modification to go through the process on your behalf. When trying to choose the right team to work for you, here are some guidelines for making sure you're getting the best:

1. Do your homework or seek professional independent advice from others who have done their homework and compare contract terms.
2. Choose a company that does not charge a set up fee.
3. Choose a company with a low monthly maintenance fee (never agree to monthly maintenance fees totaling more than $50/mo)
4. Choose a company that does not charge an enrollment fee, and then later also charges a percentage of what they negotiate away (double fees).
5. Choose a company that allows you to always have complete access and control of your money paid into the settlement program.
6. Choose a company that allows you to borrow or simply take back and keep any amounts paid into a settlement fund account without penalty.
7. Choose a company that allows you to miss a payment and restart your payment plan without having to repay any fees and without any penalties.
8. Choose a company that has at least several years of experience in the business.
9. Choose a company that has no complaints or lawsuits against it from past or current customers.
10. Don't take a company representative's word for these contract terms - read the contract yourself and find these provisions in writing.

For more information, check us out at www.januaryfinancial.com.

It's not something any of us would ever wish for. In fact, for many of us, it's our biggest fear. But in hard economic times, it's all too common to see people face what they'd prayed they'd never have to face. Maybe you are one of the people facing the day when your finances have become too much to manage, and you're wondering if there's even a way out from underneath your mountain of debt.

Well, there is - but not all deal-with-debt plans were created equal. Here is an outline of the four main routes people take when they've hit the wall and want the help of an expert to deal with their debts:

Option #1 - Bankruptcy

• Negative credit report for ten years
  
• BK-13 usually requires 100% pay back of principle amounts borrowed over a five year period
  
• Attorney fees to file BK typically range between $3,000 and $5,000.
  
• Amounts paid into a BK repayment plan cannot be accessed in the case of an emergency.
  
• Typical payment on $40,000 of an unsecured debt would be in the $800 range for five years.
  
• Provides some protection for other assets if BK judge allows those assets to remain in the consumer's possession.

Option #2 - Debt Management, Consumer Credit Counseling or some other Non-Profit Debt repayment program

• Negative credit report for 7 years
  
• Usually requires 100% pay back of principle amounts and usually some interest
  
• Fees for the program are generally split between the lender and the consumer
  
• Amounts paid into a non profit repayment plan cannot be accessed in the case of an emergency
  
• Typical payment on $40,000 of an unsecured debt would be in the $1000 range over four to five years.
• Creditors may seek any and all forms of collection for missed payments including collection agencies, judgments or garnishments.

Option #3 - Do Nothing

• Negative credit forever, as accounts are resold to collection agencies perpetually.
  
• Interest and penalties continue to accrue causing the balances to continually increase.
  
• The cost of never ever being able to re-enter the credit system could far exceed the money saved by not paying over time.
  
• Creditors may seek any and all forms of collection for missed payments including collection agencies, judgments or garnishments.

Option #4 - Debt Settlement

• Negative credit report for 7 years.
  
• Attorney contract guarantees amounts will be settled for less then 50% of the amounts owed on average.
  
• Payment plans only last 18-48 months by which time the consumer is debt free and protected from any further collection efforts by the creditor.
  
• Until accounts are settled, creditors may seek any and all forms of collection for missed payments.
  
• Typical payment on $40,000 of unsecured debt would be in the $500 - $700 range for 3 - 4 years.
  
• All fees are included and paid from the monthly payments requiring no additional out of pocket expenses from the consumer.
  
• Some Debt Settlement programs allow the consumer to access their account in the case of emergency and borrow or withdraw cash without penalty.

Based on the attorney guarantee, the lower amounts of money coming from the debtor's pockets, and the emergency fallback potentials, we strongly prefer Option 4 over the others. Confirm with someone whose financial wisdom you trust, and then visit us for more information at www.januaryfinancial.com.

September was an exciting time. The kids were back in school. A hint of crisp weather was in the air. A plan was afoot within the government to purchase "toxic" mortgage-backed securities from Freddie Mac and Fannie Mae. Life was good.

The problem was, after Congress approved TARP (the Troubled Asset Relief Plan), the Fed changed its mind and went to bail out banks instead of the mortgage market. It seemed back to square one for anyone involved in the mortgage industry, whether as a professional or a consumer.

But have no fear, faithful readers, good news is afoot yet again! Last week, Henry Paulson approved another plan, very similar to the first, the aim of which is to help detox the poisoned environment of the mortgage market. Mortgage rates went a lot lower, allowing many people to refinance into better loans.

Rates are still good over a week later. Some reports are even surfacing of 30-year fixed mortgages available on purchase loans (not refinances) for 4.5%. These rates may even be available for jumbo loans (which are necessary in many areas of Southern California).

With all this good news, there is an inherent danger afoot: the desire to continue waiting for rates to drop even further. Many borrowers will decide that if rates are decreasing now, they will continue to decrease and it will be advantageous to wait it out. The problem is that the plan that would bring about these lower rates has not yet solidified, and many changes could still occur that could cause rates to change dramatically. Also, there's no guarantee that the change would be in favor of borrowers - rates might actually increase.

As always, our advice is to contact a trusted mortgage professional (like us!) whose job is to read the markets so as to best advise their clients for their individual situations. If you are considering a new home loan or changing an existing loan, please call us first to make sure your next move is the best one available.

Find out more about us on our website: www.januaryfinancial.com

It's official: we are in a recession.

Pundits and politicians danced around the word for months, not wanting to declare such bad news, but last week's decision by the National Bureau of Economic Research (NBER) made it unavoidable. Not only are we in a recession, but we have been for the last year.

"Big surprise," many of you are saying. It's true: whether it was officially labeled a recession or not, the last year's economy has been tough on most of us. Many have adjusted their lives to make their dollars work, from small changes like eating out less often, to big ones like undergoing a loan modification to save money on home mortgages.

So, while in reality, the official recession news probably won't change your day to day too much, here are some things to keep in mind as we face the beginning of a new year:

• historically, by the time the NBER gets around to officially declaring a recession, we're usually within a few months of the end of it.
• in the years since WWII, the US has experienced 11 recessions (this one included), the average length of which is 10 months. We're officially in month 11, which means that statistically the end is in sight.
• many firms are aware of the recession and are more willing than ever to work with consumers financially, whether through a loan modification on your mortgage or a restoration of credit. Now is the time to start negotiating!
• although the stock market is taking a beating right now, time heals all wounds. Historically, 100% of all the 10-year rolling averages of market returns since these things started being recorded have ended in the black. Try not to panic about your 401(k) and instead, give it time to recover.

The main thing to keep in mind while living through a recession is to stay optimistic. Things could most certainly be worse, and there's never been a recession that we haven't come out of!

Check out this link for further information.