Office1000 Blog February Archive

Subprime Mortgages

By Blog Stories at 02/28/2009 22:00

Decades of greed and mismanagement in the United States was the main reason behind the global credit crunch we are all facing. By now, we are all probably accustomed to the term "subprime mortgages," which are said to be the root of this mess.

But wait, what do we mean by subprime mortgages? Subprime lending? Apparently, the financial term was only popularized by the media last year when the crisis blew out of proportions. Subprime lending involves institutions that lend money to people without the need to meet prime underwriting guidelines.

There are no standardized definitions, but it is generally agreed that a loan is subprime when it is lent to a person with a FICO score of below-680. People with this credit score most likely have a history of loan delinquency and bankruptcy--or they just don't have enough lending experiences. Thus, it is also assumed that these people will less likely to pay their debts, making the loan very risky.

So why did banks and other lending insitutisons keep on lending money to these people? Well, for one, the interest put on subprime loans are generally higher than prime rates. After all, the higher the risks, the higher the returns. Add to this lax government policies that encouraged high-risk lending, and we already have a housing bubble waiting to burst any minute. When interest rates started to rise and refinancing loans became more difficult, foreclosure rates accelerated and the bubble started to burst.

The rest of the global economy was able to invest in the US housing market due to the existence of mortgage-backed securities (MBS). When these mortgages started to default, the global economy also started to crumble.

The rest, as they say, is history.

Working on Saturdays

Who wants to work on a fine Saturday morning, when everybody else is having fun outside with their families, watching a movie, bowling, or doing any recreational activity? Who wants to exhaust his/her self out while doing an inch-thick report during the weekends?

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10 Creative Uses for a Mobile Machine Stand

Did you ever consider that your mobile machine stand's versatility may go beyond what you have ever thought of? Well, mobile machine stands aren't just for fax machines, printers, and telephones any more, oh no.

Here is a list of ten creative uses for a mobile machine stand. Maybe you will like these ideas so much, you can buy them in bulk and save shipping costs!

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Office Dirty Work

Feeliing dirty? That's because your hands probably are. Well, forget that you had to fix that photocopier because your office is cutting down on miscellaneous expenses. Forget that you have to bring out your own trash this time because only two janitors are managing the building. That is the office life. Sometimes you have to give a hand in doing the dirty work around the office.

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House Transition

Moving to a new home after many years of living in another one can mean a new adventure, and a new chapter to your life. The reasons for the transfer may vary (marriage, new job, etc.) but I am pretty sure that the transition will never be easy. Emotions have been invested in the old place. Memories were made. It will not be easy to leave the old place behind

This, however, should not hamper anyone from building a new home. The transition may be difficult but it is most definitely possible. You may just need help from their families, partners, or close friends.

The transition does not end with emotional transition, too. There is always the physical aspect attributed to the transfer. A number of appliances, furnitures, and material possessions have to be transferred--unless you really want to start anew that you give everything away. Transferring all the goods and placing them in order can be very exhausting. From strategically placing your furnitures all over the house to putting portraits and wall decors on molding hooks, placing everything back in order will take some time. So get help from the people mentioned above when you most need it.

As for the emotional investment, well, let's just say time itself will put everything in order. Just remember to enjoy your stay and make a lot of good memories while you're there. When you leave your old place, you don't have to leave the good memories with it. Carry them with you in your new house, make the most out of it, and add to those thoughts that will be forever etched in your mind.

Keeping Your Job During A Recession

It is no secret for us that thousands upon thousands of jobs have already been lost in the midst of this recession. When the bubble burst, so did the excessive manpower associated with it. Job security is of utmost importance during these times as you may likely find it difficult to find a new job at this point.

But how are you going to keep your job when everybody else is losing theirs? How are you going to tell your boss that you are the wrong person to give the ax to? How are you going to survive this crisis still employed? There are many ways, and we will try to discuss some of them here.

• Suggest other ways to save money.
The reason why your company is sacking people in the first place is because it is trying to reduce costs and eliminate excessive expenditures. By attending meetings and showing your boss that there are other expenditures to eliminate other than employees, the company might reconsider.
• Show your worth.
Show your company that they will lose even more if they sack you. Show the company that you are part of the solution and not a liability. Improve your skills if you must, just to prove that your willing to learn more and adapt to new company policies. If you really want your job, you should also make the company want you.
• Give hope to your leaders.
One thing is for sure, most of them do not want to see their people sacked. They need encouragement that you can all survive this mess, and don't just encourage, don't just sit on that office chair while they are brainstorming. Give them suggestions, too.