Prof-Question: Non-Recourse States / Future Legislative Risks ?

[Irish Gal]

Hi Prof,

Hope you're having a good semester . I have a question re non-recourse states. In your professional opinion, do you think any of the non-recourse states are at risk of going recourse due to the outcome of this foreclosure epidemic ? I note your comment in another thread that most states are recourse states. I am curious about the legislative history of non-recourse states, and how those few states actually got such a law passed, as its so borrower/consumer friendly. Thoughts? Where can I find more info on this ? Now that lenders in non-recourse states have had to eat crow on such a mass level through this crisis, I wouldn't be surprised if they are now working quietly and diligently through lobbyists in those non-recourse states to try to change them to recourse for future real estate downturns. Do you think this is a possibility or will ever happen? Thoughts ?

[The Professor]

It is spring break. I spent Wednesday evening through Sunday in San Diego. Now back in NorCal. When I return to teaching on Monday, there will only be four (4) weeks in the semester. Then its three (3) months of vacation. Life is good.......

As to your question, the chances of any state that currently protects borrowers via anti-deficiency legislation changing the rules is slim to none. Even if they attempted to do it, my guess is the change would not hold up insofar as impacting existing loans that were written with those anti-deficiency laws in place.

Now if people expect the legislature to enact anti-deficiency statutes in the future for those states who do not have them in place, unless the lender lobby can be silenced it isn't going to happen.

Raining up here in NorCal today. Should have gone to Cabo.....

Daniel

[cactus77727]

Hi Irish Gal

Off topic, but I reviewed an old post that you also were looking for a job. Did you ever find anything???

Cactus

[Irish Gal]

Originally Posted by cactus77727

Hi Irish Gal

Off topic, but I reviewed an old post that you also were looking for a job. Did you ever find anything???

Cactus

Nope. I'm in the same boat as you . Been looking to no avail. Looking, looking, looking. Interviewing, interviewing, interviewing. Nada. Just nada. But, for some reason, I am not panicked. I'm pretty low drama and for some reason, have faith that something will manifest at some point. I just don't know when. And, THAT's what's killing me. When ????? I have a master's degree in my chosen field and prefer to use that, but unfortunately, bilingual "preference" is paramount these days. Unfortunately, the country has gone backwards re expecting citizens to learn foreigners languages vs. foreigners learning our language but it is what it is. Not reversing that trend anytime soon so if I want a job in my field, I will have to learn Spanish. Nutty country. Those are today's rules. I actually don't mind bilingualism, I just don't think it should be a REQUIREMENT FOR EMPLOYMENT. If folks want to immigrate to the U.S., they should be required to learn the language w/in a year or so. And, quit this politically correct schtick. I also have legal support experience but I think I'd rather be a stripper (like all the other women flocking to that "field" now ) than work in a (corp) legal environment again ! Talk about slave labor. And you're supposed to be grateful they allow you to be in their lofty presence . A lot of "stroke the ego" games as part of your job description (female lawyers the worst offenders - you have to listen to all their "work / life balance," poor mommy / lawyer-partner, sob stories when they're making $450 hr and have nannies raising their kiddos ) !!!! Had enough of that for a lifetime ! Very boring places to work. They live in the same world as bankers. Boring, pampered types who really do believe all that Ivy law school propaganda they are fed about being genetically superior to the non-lawyer masses . If truth be told, I'd love to be a writer or photographer, something creative. If I were independently wealthy, I'd travel and be a photojournalist. But, dangerous job. Three (female/American) journalists have just been arrested and jailed indefinitely (2 in N. Korea and 1 in Iran). Very sad. Both cases don't look good either. The one in Iran has been charged with espionage. The other 2 we don't know yet. One is Lisa Ling's sister (American reporter).

How's your search going ? Where are you moving to ? Are you doing a naitonal or international search also ? Seems like you're feeling better these days. By the way, I have a few relatives there in law enforcement. I pray every day they don't get hurt. Thank gawd they are not the cowboy types who mess w/ folks cuz they can. Both nice guys and just a job for now. I want them to get out. Nobody really appreciates what they do, day in and day out. Much too dangerous for the pay and bull they have to deal with every day. Like sending your kid off to Iraq for Bush/Cheney's oil fights. Not gonna happen with my kid (if I had one ). My kid would get the same "waiver" all their kids got .

Anyways, sorry to blab on too much . But, thanks for asking what I've been up to. Hope you're doing ok and on your way to better things . Also, hope your mom is recovering quickly and comfortably ! Keep us posted, which I am sure you will !

[The Professor]

IrishGal:

Something wonderful about having a 'full-time' job that specifies 22 accountable hours a week, 32 weeks a year (that totals 704 hours a year which is one hell of a lot better than my past life where 2000 billable hours per year was viewed as a good thing).

I guess what I'm suggesting is you might want to look into teaching at the college level. It certainly isn't a bad life.

Daniel

[cactus77727]

How's your search going ? Where are you moving to ? Are you doing a naitonal or international search also ?

I keep sniffing around for opportunities to apply to, but they are few and far between. I feel like a dog rummaging around the remains of a post-apocalyptic landscape, trying to avoid being attacked by MBA zombies.

To be blunt, I have no idea what the heck I'm going to do.

but unfortunately, bilingual "preference" is paramount these days.

I've run into the same thing. "Spanish speaking preferred". Whatever. I see it all the time. I don't even bother to apply to those. One the other hand, other parts of the world, being multilingual is common isn't it? Another disasterous consequence of the USA edgumacational system. We don't know jack. Also, I catch myself if I get too zealous with the "hey this is America" thing, because, pretty much the entire state of Arizona was Mexican/Spanish territory before it was USA. And, Hohokam before that, and Anasazi before that, and ??? before that... I'm a second generation Arizona native, but it really doesn't mean anything.

something creative

Photography is great. What do you shoot? I had a Nikon N2000 in the 1980's, and couple years back I got the D50. Amazing how far the technology has come. I was mostly a landscape shooter, and some lightning too. I burned hundreds of rolls of film in the 80's chasing monsoons. So much easier shooting digital than film. Haven't done much lately, but if the opportunity arrises, I take it out and fire a few shots.

I was thinking the same thing: Something creative. My brother in law and I are kicking around the idea of starting a cover band. We have no idea how. But what the hell, I've got nothing else to do.

I need a new direction entirely. I don't know if I can go back to what I was before. I'm not the same person. The whole career matrix thing looks absurd to me now. I've turned into the Peter character from that Office Space movie.

"Mmmm yeah, I'm gonna have to ask you to come on in on Saturday for a 6am meeting..."

"The thing is Bob, its not that I'm lazy, I just don't care."

[Irish Gal]

Multilingualism common outside U.S. ? I think so. Americans have been accused of being arrogant / lazy because we, for the most part, refuse to learn anything other than English. Because no one wants to learn my language, off to Rosetta Stone I go .

Are you going to live w/ your mom or sister after you grab the cash for keys deal ? From what I remember, you are a free man (not married, no kids ?), so you are in a great position to do what you want, really. Go anywhere. Anytime. Right ? And, you're 40 now ? So, the Marines is out. Just kidding . Hey, I heard military enrollments are skyrocketing because there's no jobs. Although I'm not a big fan of the military as a career track (esp this war mess), the Coast Guard and Air Force don't seem bad. Another relative of mine is a rescue swimmer with the CG. He loves it. Another great guy. He goes around the country teaching rescue swimming re Katrina, lost folks at sea, etc. Are you interested in (or eligible for) any job retraining programs ? If you had UI, I think the stimulus pkg has something in it for retraining programs. Check it out. Take anything that remotely interests you where there are jobs. You don't have to commit to anything forever. This is a tough time, but I think it's really providing us opportunties to regroup, rethink our lives, what's really important, and maybe try things we may have been putting off when our lives were too comfortable. That's the way I see it anyways. From what and how you write/express yourself here, I find it hard to believe you worked with machines (computers) all day long, as you seem people oriented and quite the fire cracker ! I know exactly what you mean about not being the "same person" as before you were put through this mess. I've thought of going to Kanab, Utah and volunteering at a place called Best Friends Animal Society. It's in a breathtaking area (by Zion National Park -stunningly beautiful) and it's a no kill rescue shelter that takes animals in from all over (maybe in the world), rehabilitates them and adopts them out (all over the world) or the animals have a home for life if they're not adoptable or a home can't be found. The people who started it, run it or work there give me faith in humanity again, as I don't have much faith anymore in humankind . Individual people, yes. Humankind. No. They are as close to human angels there, in what they do, for those suffering but wonderful animals. You've probably seen the t.v. show "Dogtown" (National Geo channel). Well, that's the shelter. I wish I were able to retire and go there and walk those dogs around that breathtaking place, day in and out. They actually took in about 20 or 30 of Michael Vick's poor dogs and turned them into adoptable, sweet companions. Those poor, helpless dogs were rescued from the gates of hell, rehabilitated and provided the best care and human companionship a dog could wish for by those angels at Best Friends. I cry when I watch that show because it gives me faith and hope in humans again . Anyways, that's what I would do with my time if I wasn't still a working stiff. How about doing something bold or different? What do you have to lose ? What about the peace corps ? Teach English in Japan ? Something voluntary that you might enjoy that comes with room, board and soup ? I don't know what that would be, but now is the time to be creative. Everyone is forced to be creative now. We have no choice ! What do we have to lose ? What about volunteering in an area you would like to work ? Something new you've always wanted to try? I now offer to volunteer my prof services with the hopes a job will result. I only target jobs I really want. I get quicker responses / interviews now. If not this job, then the next job. I saw a great job ad the other day. It was placed by a paralegal who was having a tough time securing ANY para job. They offered to work (part-time) FOR FREE for 3 mos with the ultimatum of a job offer after the 3 mos or they would then just move on. I thought that was a creative idea. It's also a good way to keep your skills and resume current while also having the other 20 hours during the week to keep looking for a paying job. It also keeps you active, feeling productive, and in the loop. Just an idea. Good luck. Keep us posted.

[Irish Gal]

Originally Posted by Professor Shays

IrishGal:

Something wonderful about having a 'full-time' job that specifies 22 accountable hours a week, 32 weeks a year (that totals 704 hours a year which is one hell of a lot better than my past life where 2000 billable hours per year was viewed as a good thing).

I guess what I'm suggesting is you might want to look into teaching at the college level. It certainly isn't a bad life.
Daniel

Good idea. I wouldn't mind teaching. I have a relative who was an English teacher for 30 yrs. Great summer vacations. Off daily by 3:00. Holiday breaks. Not a bad life. Over the years she wished she had picked another subject though, due to all the paperwork. She's from the old school and just wanted to teach. Didn't like all the "self esteem" stuff that has eroded the educ system so now every kid has self esteem but can't read or write. She retired at 55 as she had a principal who was intent on focusing on anything but education and her closest teaching buddies were retired or on their way. She teaches ESL and adult ed now (3 to 4 times a year) and makes decent supplemental income doing that. The only problem I've encountered thus far when I research teaching (esp college) is needing a PhD or some kind of prior teaching experience, which I don't have. I've thought of subbing to see how I like it, but the pay sucks. But, thanks for the idea. I'm researching everything I can and open to anything .

[The Professor]

In an email this evening to a close friend who has one of those 7/24 jobs that keeps her much busier than I'd like her to be, I said, "So, as I see it, since the College is effectively closed on Fridays, I have 15 school days left before the end of the semester......"

She responded, "only 15 days left til summer?????????????? UGH!!!"

Guess that means I shouldn't rub it in.....

Daniel

[Irish Gal]

Too funny ! I'm thinking you found your calling, Prof. I remember this relative also telling me funny stories about how she'd have to play down her cushy schedule to some people, as they sort of insinuated (all the time) that teachers "had it made." She'd say "everybody thinks teachers have it made" due to summers off, etc. She was always reminding everyone "I work my ass off" blah blah blah. My favorite sister .