Valerie Mozee
English 4
10/29/2013

 

 

Midterm #2

                           Mortgages

 

 

For the topic of mortgages I was paired up in a group with Analycia, Leo, Kaylen, and myself we all had our own areas of research . What is a mortgage? How do mortgages work? What's the difference between a fixed rate and adjustable rate mortgage? How much would you pay for a mortgage? We each wrote down the answer to the questions that we chose to talk about. Everyone did their part we researched online to find the information we needed printed it out and brought it to class to share with each other. Everyone read their information to each other so we could all get a good understanding on mortgages then we discuss how we would go around to our different classmates and explain to them about what our topic was and tell them about the areas that we researched. I have more knowledge about what I have learned mortgages are all about percentages the interest on nearly all mortgages is computed monthly, divide the annual rate by 12 to get the monthly rate. Monthly mortgage payments depend on how much a person gets approve for a home loan. Fixed rate mortgages have interest levels that never change for the whole lifetime of the home loan. Home loan borrowers know exactly how much they will pay each month for the entire duration of the agreement. Adjustable rate mortgages have an interest level that changes or "adjusts", periodically lenders change lower initial interest rates for ARMs than FRMs, knowing that ARMs can have their rates increase after a short fixed-rate introductory period. Maybe one day if I decide to buy a house I'll know what to expect when it comes to the mortgage, interest rate, payments, and the different kinds. Mortgages are very important to know about and understand because sometimes things can go wrong with the bank the homeowners got the loan from or job related issues and it could cause the homeowners home to go into foreclosure or filing for bankruptcy.

 

 

 

 

The process and collaboration my group and I went through to complete this midterm was we exchanged phone numbers and emails everyone wrote a response to there area on mortgages and then we emailed it to one another so they could read it and gets some feedback. Our group wanted this to be a really good solid midterm that's why we chose to work in a group so it would be easier. We met up on Wednesday the 23rd of October to put all of our information into one great midterm that included each area that Leo, Kaylen, Analycia, and myself did. Also included the work cited page from where we got our information and discussed the other topics that the other groups had done in our class. Everyone did there part by making suggestions on how to have this midterm come together reading every one's information making sure it made sense proper grammar good thesis statement introduction body paragraphs in detail and conclusion. The meeting that was on Wednesday if anyone had any questions about anything they would always ask if they weren't sure proofreading the entire midterm. Also if anyone in the group wanted to change some information on doing there part on mortgages they could just go back to google doc and do it and still share it with the rest of the group. In all this turned out to be a great outcome for the preparation of the midterm getting together to organized it having a wonderful group to work with and the actual midterm itself being written and finished.

 

 

Work Cited:

 

Http:// Loans.org/mortgage/questions/what-difference-adjustable-fixed-rate

 

Http://Homeguides.sfgates.com/mortgage-interest-rates-work-8863.html

 

Http://Furioustees.com/How_much_will_my_mortgage_payment_be

 

Http://Cashcallmortgage.com/rates.aspx

 

 



Valerie Mozee
English 4
10/26/2013

The difference between fixed rate and adjustable rate mortgages.

 

 

There are a number of differences between fixed-and adjustable-rate home loans. Understanding these differences can help prospective borrowers navigate home loan financing so they can borrow the right type of loan suits them. Let's define these two terms before diving into differences.

 

 

Fixed-rate Mortgages(FRMs) have interest levels that never change for the whole lifetime of the home loan. FRM's are attractive since home loan borrowers know exactly how much they will pay each month for the entire duration of the agreement, which makes budgeting easy. While it seems quite obvious why borrowers would opt for the comfortable predictability of FRM's, when interest rates are high it may be difficult to qualify for an FRM since payments become less affordable.

 

 

Adjustable-rate Mortgages (ARMs) as their name implies, ARMs have an interest level that changes, or "adjusts", periodically. Because of this, lenders typically change lower initial interest rates for ARMs than FRMs, knowing that ARMs can have their rates increase after a short fixed-rate introductory period. This period makes an ARM easier to afford initially, even when compared to a fixed-rate home loan for the same amount of money.

 

 

Decisions, Decisions

 

Borrowers should ask themselves whether they want the potential short-term and tentative benefits of ARMs or the long term predictability of FRMs. An individual's appetite and tolerance for high risk can be the strongest determining factor when selecting between two types of loans. Borrowers need to balance their personal finances with the economic reality of the fluctuating mortgage market. In fact, borrowers might find ARMs more advantageous if a borrower can save money during the short low-interest introductory period.

 

It's vitally important for borrowers to understand how large of a mortgage payment they can afford as well as whether they can afford an ARM if rates rise. Borrowers that will live on a property for a short period of time might benefit from ARM over an FRM; especially if interest levels are in decline. Of course if rates are rising, then locking in a steady rate with an FRM could be prudent.

 



Bill O'reily Gets Owned By Cornell West And Tavis Smiley

Valerie Mozee
English 4 Daraja
10/14/2013


In my analysis I'm going to talk about the economy debate between O'reilly, and Tavis Smiley and professor Cornell West. 46 million Americans live below the poverty line. That's 15% of the population in 2010 $560 billion, 16% of the entire federal budget was spent on the poor. That's up 5,400% since 1970.


In Bill O'Reily's talk about poverty he feels that everyone gets treated the same when it comes to finding jobs while Tavis Smiley and Cornel West don't agree. I feel that Bill O'reily is wrong he's very arrogant, and ignorant everyone doesn't get treated the same when it comes to finding jobs some have to work harder than others to get to where they want to be a lot of people go through hardships for not getting the job they want, trying to work your way up to the top by taking jobs you don't necessarily want but, you know you have to do them. Minimum wage jobs having to sacrifice for what you want for the things that's more important. Not everyone can be rich.


"Then, reality hits; you can't find a job in this Recession Economy or the one you secured has been snatched away... Your life is consumed with massive debt, color-coded bills, and constant calls from malicious debt collectors".(pg.33) A person can become homeless at anytime; because the economy can go down at anytime you can't pay your bills, your rent, can't buy food.


However up until the late 1940's the economy began to change but it seemed like it was more for white families they were able to afford cars, houses, and TVs and only one person had to work in the family. By the 1950's African Americans were able to get steady jobs the American dream was in full effect which was what Martin Luther King Jr. believed in. Now that we're in the 21st century I believe that all African Americans can get any jobs they set their minds to. The ones that really want careers that's what Tavis Smiley and Cornel West believed in.