Forgetting Student Loans in the Bankruptcy Mix

November 20th, 2008

People are going crazy right now over the economy and how they (and their families) will continue to pay the bills next month or the month after. Some people are looking at their 401k accounts and literally crying due to the literal lack of retirement funding available for them. For some folks, the way out is to declare bankruptcy. Well, as a sort of student loan guru I just wanted to remind the big student loan borrowers out there that student loans are not eligible to be wiped away in bankruptcy court.

One of my new favorite places to go to read about events in the student loan industry is Student Loan Stories. This is a great blog that covers student loans from all angles and was good enough to post the story linked above regarding how student loans are not eligible for bankruptcy. As someone who still owes six figures in student loan debt, trust me when I say that I knew about this years ago! But this is the type of information that isn’t shared nearly enough with college graduates in terms simple enough to understand. And we all know the garbage that has gone on with the student loan companies and certain colleges being offered kickbacks to recommend one company’s consolidation services over the others.

Disgusting.

Anyway, just putting out the grim reminder that you can’t put your student loans into bankruptcy. Sorry!

New Jersey Real Estate Still Not in Sync With the Nation

November 20th, 2008

Everyday we read stories in the newspapers and watch reports on television and online about how housing prices are plummeting and folks are being forced to lower the sale price of their homes to respectable levels in order to sell. Unless, of course, you live in certain areas of New Jersey. The New Jersey Real Estate Report blog had an excellent post about this the other day. From the article which is reprinted in their post:

New York-White Plains-Wayne, N.Y.-N.J., was the nation’s least affordable major housing market for the second consecutive quarter. In the New York market, 10.6 percent of the new and existing homes sold during the third quarter were affordable to those earning the area’s median family income of $63,000.

You get that, folks? If you live up in the Wayne area of New Jersey then only 10% of the homes being sold are affordable for those making $63,000. In other words, you need to make $63,000 per year in order to afford only 10% of the homes that are currently for sale in this part of the real estate market. I have a sneaking suspicion that this data holds true the further west and south that you go in New Jersey at least through western Morris County and northern Ocean County.

What’s the end result of this mess? Simply enough - it’s the continued existence of a large inventory of homes for sale on the market throughout most of New Jersey. The sellers are a varied bunch. Yes, you have some greedy people who refuse to sell their real estate without making an exorbitant return for this market (15% - 24% above their purchase price). My landlord is a great example of this greed. A townhouse in the same development as I currently live in is on the market for $250,000. It’s the same exact three bedroom, two and a half bath townhouse that I currently live in, just down the street. Yet my landlord is only willing to sell the place that I currently live in for $315,000. No budging on that price, either (believe me, I tried). Greed like this is destroying the real estate market in New Jersey.

Yet on the other hand there are a lot of people who are in over their heads and are now stuck with mortgages that exceed the market value of their home. These folks could not be expected to sell their real estate without covering their existing debt, but at the same time a buyer cannot be expected to purchase a piece of real estate for more than its market value. What are strapped sellers and eager buyers to do?

Most realtors are still harping on their mantra of their industry - “Now is the time to buy.” You’ll hear this from most realtors no matter what the market conditions. One great thing about the New Jersey Real Estate Report is that they provide comparison busters for their readers. In other words, your realtor will provide you with comparisons to show why the price on a home is in line with the market. It is, of course, in their best interests to show you comparisons that are generally in line with what the seller is asking (higher is better). Why is higher better? Simple - the higher the home price then, usually, the higher the commission the realtor makes on the deal.

If you’re out there looking for a new home, I’d suggest checking out the New Jersey Real Estate Report so you can at least get the truth about the market where you are shopping.

Movie Review: Jack Frost

November 19th, 2008

The other night I had the unfortunate opportunity to watch Jack Frost, the 1998 Christmas-themed movie about a kid and a snowman. The kicker here is that the snowman is his father reincarnated a year after his death. Intriguing, right? I didn’t think so either, but I sort of watched it anyway.

The movie starts off like any other Christmas movie - a family with its unique ups and downs, a wide-eyed child looking for something more, a parental figure who is too busy to notice some things, etc. You know the drill. Seriously, some of these haphazardly thrown together Christmas movies stick WAY too close to the generic script, but I digress. So there is the standard family that you’ll find in any Christmas movie. Michael Keaton plays the father and does a pretty good job with the role that he’s given: he’s not quite an arrogant jerk, but not quite ready to be the father figure that he needs to be…and eventually he’s the voice of a snowman. Joseph Cross plays the son and I thought he did an exceptional job, as did Kelly Preston in playing the mother.

Again, the movie starts like any other and then Keaton’s band gets a big break and he needs to be somewhere important on Christmas day. Cross gets pissed off, gives him back a magical harmonica (yep), and then Keaton dies trying to rush back to his family before Christmas.

A year goes by, life is miserable for the young kid, he builds a snowman to remind him of the one he and his Dad built a year before, he blows on the magical harmonica, the snowman is infused with his Dad’s spirit. Simple story, right? Cross finds out the snowman is his Dad and he spends the rest of the movie trying to hide this fact from the world - including his mother who now thinks that her son is nuts. If your kid was walking around talking to snowmen, you may think the same thing!

The folks who put this one together attempted to include a bunch of touching scenes throughout the movie, but most of them come off as just awkward. Even through the final scene of the movie (which I won’t be wretched enough to share here) this viewer received more of an awkward feeling than anything else. There is even one moment towards the end of the movie where the bully antagonist (because these awkwardly thrown together Christmas movies always have a bully antagonist) and the young, bright-minded protagonist become friends. Awww… I almost threw up.

If you’re a freak for Christmas and Christmas movies, then you can go ahead and watch this one, but everyone else should run away from this movie.

Those Damn College Students - At It Again!

November 18th, 2008

This one is too good to let up. I was flipping around the website of a local newspaper in Monmouth County and I came across an article that I had to share with the world. The name of the article? Monmouth University helps to open thrift shop. From the article:

Professor John Buzza has brought the Monmouth University Center for Entrepreneurship and students together with the RedeemHer Organization to open the thrift store. All proceeds from the store will be donated to the nonprofit organization RedeemHer.

Monmouth University students from Buzza’s entrepreneurship class are helping RedeemHer open the thrift store in Neptune, called Second Chances. The students and members of RedeemHer are involved in all aspects of the project, including creating a business plan, decorating, floor plans, sorting through donations, installing walls, public relations, marketing and staffing.

Wait. What? Is this an article that talks about how Monmouth University students are HELPING the community?! You know, from time to time I blog about the bias in the media, but that’s usually at a national level. There is also a bias in local media that is inherently anti-college student - but I’m sure you can understand why, right? Why would a newspaper - which is a dying breed to begin with - write articles that are pro-college students when the vast majority of those people living around college areas don’t like the off-campus population? It only makes sense that newspapers would be anti-college students, right?

Anyway, I’m glad that the Atlanticville has stepped out of the bunch and printed an article that praises some of the noteworthy work being completed by this particular class. This sounds like a good nonprofit organization and I’m sure that the students are getting one heck of an education by helping to build the business. Very impressive work on behalf of Monmouth University and a good article by the Atlanticville.

Book Review: Paradigm Shift - Return of the Angels

November 17th, 2008

Wow. Some history before I get into the book review. I was listening to Howard Stern on Sirius Satellite Radio one day and I heard an aspiring author talk about how he wanted Fred Norris to review his book so bad that he would be willing to pay for it. Fred obliged, accepted the money, and read a copy of the book. A few weeks went by and the author was a call-in guest to receive Fred’s review and it wasn’t the most glowing review, but any publicity is good publicity when you’re trying to sell a product!

After listening to this (and knowing that I have a network of sites that might be able to help this first time author), I e-mailed the guy and told him that I would be willing to review the book for free. The author, Harry S. Franklin, was kind enough to send me a signed copy of the book and I dove right into it. Why did I want to help out this writer? Well, I’m an aspiring writer, too, and though I can’t afford to self-publish at this point (Paradigm Shift is self-published) I would like to do that in the future.

One of the comments that I remember Fred saying on the Stern show was that there was so much going on in this book that he had to keep notes. Well, I didn’t keep notes but I do agree that there was a LOT going on. In fact, it felt more like I was reading the screenplay for a very long movie instead of a novel. As a reader, you’ll get this feeling all throughout the book as there are often events that are overly described. Sometimes it feels like the author is talking directly to a set designer so that the environment looks perfectly for a film.

I also had trouble grasping the plot changes in the book. The book is amazing as it builds in the beginning with a secret organization plotting to overthrow religion and begin a worldwide Humanist political party. After the 9/11 attacks, though, the entire leadership of this organization is wiped out and only some random members remain. One of those members puts together a hoax that fools a good portion of America into thinking that there was a real UFO in the California area. At that point, you begin to see how the paradigm shift may occur with people relaxing their religious beliefs due to worldwide belief in UFOs.

But then everything changes as the earth is invaded by alien bugs. BUGS!

As I said before, this novel reads much like a screen play as we are taken to different scenes around the world before the bug spaceships (mistaken as dead comets) hit the earth. The bugs begin spreading and reproducing and after not seeing the initial main characters in the book, they come to save the day and rescue a young woman in Florida who happens to have evidence that aliens may have been a major influence on Christianity (and by major influence, I mean they created it).

Crazy enough yet? Remember that at this point in the book, the entire world is in shock as these bug aliens have landed in some 7 or 8 different areas around the earth. And they’re not just landing in a spaceship - these are the equivalents of comets hitting the planet! Tidal waves, earthquakes, raging fires, smoke blocking out the sun, etc - it’s all taking place at the same time.

But then the paradigm shifts again as a new set of aliens comes to earth to help humans fight the bugs. It gets much more complicated from there since the new aliens are actually split into two factions - the older Sempiternals and the subservient Houmn. The book gets confusing to read at this point since the Sempiternals are often referred to simply as Houmn (since they are, but just a lot older). Why delineate a separation between the aliens? Well, because there is a fight going on among the two groups, of course!

Again, much of the story reads like a screenplay with large stretches of conversation written out only as one quote after another quote with none of the quotations specifically cited to one person. Sometimes there are more than two people in the room, too, which makes attributing the speeches an even harder job.

I began reading this book in July and only finished it two days ago. Part of the reason in the large delay between beginning and end is the length of the book. Franklin would have been better served to publish this story as a series of smaller books which could have each been more refined than this novel. There are a multitude of spelling errors throughout the book (common in self-published works) which also helped to make this story more laborious to read. But be that as it may, it was still a fun story.

My advice for Franklin would be to definitely hook-up with an editor next time around since you can tell the difference between self-published books and edited works. I’d also suggest that he scale back on the descriptions used for people, places, or things in future novels. It actually gets distracting. Also, if you’re really thinking of a movie script instead of a novel, then it might pay dividends to write a screenplay instead of a novel and try to get the movie out there as a B-level film. Honestly, I think that Paradigm Shift would be a great B-level movie - if done properly it could become a cult classic.

As a novel, though, this one was a tough read. The dialogue becomes confused very often and the reader will frequently find himself straining to read overly lengthy descriptions. The addition of spelling errors throughout adds to the weight of this book. If you’re interested in purchasing a copy for your own use, though, you can do so by visiting the official website of the book. Enjoy!

The Joe’s Journal and JerseySmarts.com Merge is Complete

November 16th, 2008

Welcome to Joe’s Journal on JerseySmarts.com! You may remember a few months ago when I suggested that a merger between my two personal blogs may be coming. After some research and some additional thinking over the plan, I’m pleased to announce that Joe’s Journal is now officially hosted at JerseySmarts.com! Chances are that very few, if anyone, really gives a hoot about this merger, but it means a little something to me.

Under the new system, I’ll be able to spend less time ensuring that my updates are listed on two different blog sites. In terms of loss, both Brian and Bob (two guys who wrote a few posts on JerseySmarts.com) are no longer posting here. Sorry guys. I am thinking of larger things for JerseySmarts.com, though, and that will likely include sub-blogs for additional New Jersey bloggers to use. I’m still thinking about the details in my mind, but it’s a high possibility that a set up like that will exist in the future.

During the process of merging the two blogs, I regret to inform you that I lost all of the comments made on the various entries. Nah, I’m just kidding - I actually managed to get everything uploaded to the new site with no problems! It was actually amazing - all of the comments and content of some 1,200+ blog entries made it over to this website with no problems. Good work if I don’t say so myself!

Hopefully the new URL for this blog is easier for the masses to remember. I think JerseySmarts.com is a much easier URL to remember than blog.thebalrogslair.com - I believe that you’ll agree!

While the merger was successful, please understand that I expect there to be a glitch or two in the blog. If you find any of these glitches, please let me know so I can address them and get them fixed up. While there are certainly some items that I need to work on, they are generally behind the scenes items that shouldn’t really effect you guys as you browse around the site. There might be a graphical change or update here or there, but again - nothing that will interrupt your enjoyment of this site (I hope).

There you have it. The merger is complete and we’re ready to go on JerseySmarts.com. Enjoy!

Building a Third Party Base at the Local Level

November 15th, 2008

Over the last few days I’ve posted some information about a third party in the 2008 election - the Constitution Party. I’m just putting this information out there because I really believe that third parties are railroaded by the mainstream media and that America needs a strong third party to challenge the Democrats and Republicans. But as I look at these parties, I begin to wonder why they don’t start smaller and use more aggressive tactics.

For example, I’ve been looking at the voter results in my hometown of Mount Arlington (obsessively so). The Constitution Party received 2 votes in my hometown out of a total of 2,536 votes case. Repeat: they received 2 votes. Honestly, that’s not too bad! Mount Arlington isn’t too big and for a third party to pull any votes is impressive. Write-ins received 14 votes, Ralph Nader had 13, the Libertarians had 5 votes, the list goes on. In total, third parties received 41 votes or 1.6% of the vote.

Again, that’s not totally bad in this type of election, but if the third parties want to do better then they should be building a stronger base at the local level. For example, there were 4,387 votes cast for the Mount Arlington Borough Council (you get to cast two votes, which means a total of 5,072 votes could have been cast - some voters obviously chose not to vote for Borough Council or only cast one vote). I have to imagine that if a third party really wants to make an impact, they would spend a good deal of time and money at the lowest level of government and try to win these smaller elections. You win the local election for Mayor or Town Council or whatever, prove that your policies work at the local level, then try to expand to other local municipalities or to the county level (depending where you are in the United States).

The Republicans won in Mount Arlington and from what I can see, they’ve done a fine job of leading. They were handed the short end of the stick thanks to Governor Money Bags’ new anti-small town policies, but they’re managing. That said, their leading candidate received 24.34% of the votes cast. A third party should be able to meet that percentage if they wage a good campaign.

Or maybe there are other reasons why third parties aren’t making it in America. If I were running a third party, I’d choose a few small towns across America and use them as examples for why my party should be elected to higher offices. Hell, I’d even look at taking in disenfranchised members of the Republicans or Democrats and use them as the candidates for my party! Why not use those folks who already have name recognition and some type of rapport with the public?

But I would do more. I would hold voter registration drives and be sure to get those people who have never registered or never thought of registering. Go door to door if necessary and have unregistered voters fill out a voter registration form at the same time as they fill out an absentee ballot request. Put them on that perpetual absentee ballot program and tell them that it means they can literally vote from home - so long as they drop the ballot in the mail in time. If it’s legal (and I don’t know if it is), drop them some simple, uncomplicated campaign propaganda. Get them a button or a bumper sticker or something.

It just seems to me that third parties aren’t utilizing these very simple tactics in order to take a foothold at the smallest levels of American society. Again, maybe they are doing these things in places other than New Jersey and I don’t see it, but I have to think that third parties could be doing a better job of getting the word out about their existence and their platforms.

The Constitution Party in the 2008 Election

November 14th, 2008

Continuing with my look at the Constitution Party, I thought I’d relay some information both e-mailed to those of us on their mailing list and posted on their website. This message talks about how the party fared in the 2008 election. From the e-mail:

Constitution Party presidential candidate Chuck Baldwin and his running mate Darrell Castle wound up with close to 179,000 votes, showing even with no ads and comparatively little media attention, the message of liberty resonated with many.

The tally was a 24% increase over the party’s vote total in 2004. However, this year we were not on the ballot in California or Pennsylvania, and in 2004 those states accounted for 33,000 votes. The Baldwin/Castle ticket even grabbed 3,418 write-in votes in Texas, the highest for any write-in candidate in that state.

While the Constitution Party lists their final tally to be “close to 179,000″ votes, Wikipedia lists their total for 2008 as 181,342. Not too bad, really. Both the Libertarians and Ralph Nader finished ahead of the Constitutionalists, but they got a few thousand more votes than the Green Party. More from their message:

In addition to larger percentages of votes, 20 states will remain ballot qualified meaning fewer time-consuming and costly ballot-access campaigns will be necessary going forward. This is a 33% increase over 2004.

Many people do not realize that one of the biggest hurdles that young political parties have to overcome is actually getting on the ballot! You don’t just “wind up” on the ballot - you have to actually collect signatures and petition to be on the ballot in each state. It’s not the easiest process and as the quoted message above alludes to, it’s not an entirely quick process either.

It would appear that the Constitution Party made a decent showing for a third party with no financing and no advertising in the 2008 election. America needs a strong third party at the national level - could it be this one?

Unnecessary Complications: Urbanizing Northwest New Jersey

November 13th, 2008

Today’s Daily Record ran a story entitled, “Builders in Highlands must add affordable units.” The increased production of affordable or workforce housing units in northwest New Jersey (also known as the Highlands) should be a priority - there’s no doubt about it. There are many people like me who are making a decent salary that just cannot afford to live in New Jersey because the asking prices for homes are completely outlandish. God bless my fellow New Jerseyans for wanting top dollar for their homes, but unlike the national housing bubble - the local housing bubble hasn’t totally burst yet in New Jersey.

That said, let me make it clear that the latest COAH rules are infringing on what makes the Highlands one of the most beautiful parts of the state. For those non-New Jersey folks out there, you wouldn’t know that you were still in this state if you were driving around portions of Morris, Sussex, Warren, and Hunterdon counties. We have large forests and some gorgeous wildlife areas that are being preserved by the Highlands Commission. But we also have Governor Money Bags (you non-New Jerseyans may know him as Jon Corzine). This man knows nothing of New Jersey outside of Newark, Trenton, and Camden and - frankly - the way that the masses in Essex, Mercer, and Camden counties constantly vote Democratic, he has no reason to know anything else.

From the article in the Daily Record:

COAH issued a “scarce resource restraint” on all Highlands towns under its control — 72 of the 88 towns in the region, including 24 of Morris County’s 32 municipalities — that appears to stop all construction that does not include affordable units. The order applies even to those towns in the Highlands region’s planning area, where compliance with a regional master plan is voluntary. Still allowed would be any building exempted from the 2004 Highlands law, including a single home on an existing lot.

Stopping construction may not be the best news for those of us looking for a home in that part of the state, but given the economy construction may have stopped anyway. Forcing affordable units into larger developments, though, is not the proper way to move forward. In fact, I talk to many housing developers on a daily basis and restrictions like these almost always lead to an increase in the total number of units being built - though the amount of land to build on is not increased. What does this mean? It means more bodies in less space. It’s unnecessary urbanization. More from the article:

COAH’s action was in response to Gov. Jon S. Corzine’s September executive order that affordable housing not be built at the expense of protecting water resources in the 860,000-acre environmentally sensitive region and that COAH and the New Jersey Highlands Council work together to reconcile their competing mandates.

Highlands Executive Director Eileen Swan said that COAH’s order won’t stop all development. Any subdivision in which 20 percent of the homes will be affordable — for instance, 10 units in a 50-unit development — and those meeting one of the 17 exemptions written into the Highlands law will be permitted. So will development in any town that proves to COAH it has ample water, sewer and land for building.

In other words, if you’ve already figured out how to build affordable units in one of the areas of the nation where real estate is still overvalued, then you can go ahead and build. But the interesting part of this blocked quote is Governor Money Bags’ order that affordable housing come second to protecting our natural resources. With one hand, he’s forcing higher density units and with the other he says to keep water resources at the forefront. Double talk at its best…or worst.

New Jersey should leave the Highlands area alone. There are more than enough brownfields (former industrial sites that are no longer in use) in this state that can be demolished, cleaned, and redeveloped. Let’s work on those areas first and then think about manifest destiny to the Pennsylvania border.

Sizing Up the Constitution Party

November 13th, 2008

One of my favorite things to do during Presidential election years is to research third party candidates and learn more about third parties in general. In 2004, I began to look a little bit at the Libertarian Party. This year, I’m looking at the Constitution Party. This is a political party that was originally formed as the United States Taxpayer’s party in 1992. The purpose of that party was to limit the federal government’s ability to tax and reign in federal spending. After a few years they decided to change their name to the Constitution Party because they felt the new name better reflected the organization’s direction. From their website:

The Constitution Party strongly champions the principles of government laid down by our Founding Fathers in the Declaration of Independence and the U.S. Constitution, principles which have been abandoned by our political establishment. Unlike other political organizations, we do not believe these principles are outdated. We recognize that the Constitution of the United States of America is the supreme law of the land and must be enforced.

As you can see, this is a party that is strongly in favor of states’ rights and restoring the Constitution to its proper place as the pinnacle of American democracy. That may be hard to do in today’s society since so many of today’s common thoughts (i.e. equality of all peoples) are not specifically cited in the Constitution. Of course it would only take a normal person to realize that the Constitution implies equality for all people, but who wants to get bogged down in that type of argument? More from their website:

Seven Principles of the Constitution Party are:
1. Life: For all human beings, from conception to natural death;

2. Liberty: Freedom of conscience and actions for the self-governed individual;

3. Family: One husband and one wife with their children as divinely instituted;

4. Property: Each individual’s right to own and steward personal property without government burden;

5. Constitution: and Bill of Rights interpreted according to the actual intent of the Founding Fathers;

6. States’ Rights: Everything not specifically delegated by the Constitution to the federal government is reserved for the state and local jurisdictions;

7. American Sovereignty: American government committed to the protection of the borders, trade, and common defense of Americans, and not entangled in foreign alliances.

There you have the states’ rights listed as point number 6. I’m actually a big fan of point number 7 regarding American sovereignty. No, I’m not an isolationist, but I think it’s time our troops leave Japan and Germany… We could use their expertise, knowledge, and sheer manpower in other areas of the world (like Afghanistan) or right here in our own country! We forget that not only do we have the most powerful army in the world, we have the most intelligent. America could use that intelligence within our own borders.

The first two points and the fourth one are pretty much a statement of what all Americans are looking for in their federal government. No controversies there. The third point seems to be one that the majority of Americans agree with, but not the folks in certain areas of the country. Definitely not going to get a Constitution Party Mayor in San Francisco any time soon! Point 5 can become dicey as the intent of the Founders can be interpreted in a few different ways. I would assume that the Constitutionalists would be in favor of a rigid interpretation of the Founders’ intent. In some cases that might not be such a bad thing.

I joined the Constitution Party mailing list and added a link to their national party and their New Jersey state party to the links on the side of this blog. Like I said earlier, I always like keeping up with what third parties are up to - this country needs a third party to emerge as a real contender!


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