People who have an in-depth knowledge of the financial market know very well of our country’s current economic condition.  When the economy has been faced with turmoil, many businesses have been greatly affected, which includes Hawaii mortgage companies.  Based on reports, more or less 8 million homeowners are currently in the verve of foreclosure.  Because of this, President Barack Obama, in partner with the treasury department, has come up with a possible solution to this problem, and this is known as the Home Affordable Modification Program.

The Home Affordable Modification Program is a voluntary service wherein mortgage companies, banks and other financial institutions are encouraged to join and offer it to their mortgagors or borrowers.  As of today, there are already more than 150 mortgage providers that have participated in the said program.

There are requirements that have to be met before the mortgage modification program can be granted to mortgagors, and they are as follows:

1. The mortgage company in which the mortgagor has obtained mortgage from must have volunteered to become part of the mortgage modification program.

1. The mortgagor also has to submit his or her gross monthly earnings.

1. The mortgagor must also submit a letter stating why he or she should be granted of this mortgage modification program.

1. The mortgage repayments must only total to 31% of the mortgagors monthly gross income.  Otherwise, the application for this program will have to be declined.

1. This Home Affordable Modification Program is only for mortgagors that have availed of a home mortgage.  Mortgaged properties that are used for business or vacation are not included in the program.

1. The mortgagor should have obtained the mortgage on or before January 01, 2009.

1. The mortgagor should submit a proof of occupancy, and this has to undergo a verification process.

This is really good news to people who are already having a hard time settling their mortgage.  However, this mortgage modification program will only be offered until December 31, 2012 and it can only be availed once.

This mortgage modification program offers leniency to borrowers who are lucky to be included in the program.  The interest rates are set to a fixed rate.  The years of payment or tenure can also be extended to as long as 40 years, if needed.

The Home Affordable Modification Program is one program of the government that really has a very significant and positive impact on the lives of mortgagors.  So, if you are one of the millions of people who want to avoid foreclosure, find out immediately from your mortgage provider if you’re qualified to avail of the mortgage modification program.

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HONC bringing news from above and below the seas

Summary of Pigmy Whale Deaths

Latest update on relationship to sonar

Navy EIS in Hawaiian Waters

Press release on Hawaiian court EIS judgement

Latest version of FONSI report

Navy USWEX Public Comment

Navy USWEX Document Review

Email Comments:

uswex@govsupport.us

Postal Comments:

Commander, US Pacific Fleet,

Attention: Fleet Environmental Officer, Building 251, Pearl Harbor, Hawaii 96860

*

The navy announced that it was starting a public comment period on Friday, September 14 for the 12 USWEX (UnderSeas Warfare Exercises) that we are contesting in our lawsuit.  The comment period runs until October 5, 2007.

This is an unprecedented move as far as we can tell, since the navy announced last February that they had assessed the situation and found that those exercises would have no significant impact on the environment (they issued what is known as a FONSI–a finding of no significant impact).  Under the National Environmental Policy Act the navy should have held the public comment period before they issued their determination of no significant impact.  The fact that they are having a public comment period after they
already issued a FONSI has not happened before to our knowledge.  The navy says they may alter their determination based on the public comments.

The comments can essentially be similar to ones that were made on the DEIS for the Hawaii Range Complex as these 12 USWEX exercises are included in the DEIS. (See Below)

International Ocean Noise Coalition

On August 30th 2007 we submitted an official response to the National Marine Fisheries Service regarding usage of active sonar within the Hawaiian range.  This is a  must read for all of us.

Honc now has the Ocean Noise Petition Online

Tell Governor Lingle what you think of sonar and noise in Hawaiian waters.

(you can sign the petition anonomously)

IWC Convention Update

The annual AEI Special Report on noise developments at the IWC meeting is now online:
Ten minute run-down on interesting new research discussed in the Scientific Committee and SOCER.  Some good stuff on airguns being heard at long distances, details on Taiwan strandings, and a really well received paper that aims to puncture our assumptions about habituation to noise (they say it’s more often individual tolerance levels that is observed).

Sourced: Jim Cummings
Executive Director, Acoustic Ecology Institute

May 16, 2007

Honolulu, Hawai‘i – Conservation and animal welfare organizations today filed in Hawai‘i federal district court a legal challenge to the U.S. Navy’s plan to use high-intensity, mid-frequency active sonar in antisubmarine exercises in Hawai‘i’s waters. The planned sonar would emit blasts far louder than levels associated with mass whale strandings and fatalities.

Attorneys from Earthjustice filed suit in Hawai‘i federal district court on behalf of Ocean Mammal Institute, the Animal Welfare Institute, KAHEA, Center for Biological Diversity, and Surfrider Foundation.