Keepingitreal

ESPN MAGAZINE

LABOR DAY WEEKEND

Happy Labor Day Weekend, heading to ATL. Be safe

Will Smith Plays Homeless, Flip-Flop-Wearing Superhero In 'Hancock'

BEVERLY HILLS, California — You might be up on the latest action-movie news regarding "Iron Man," "Justice League of America" and "Watchmen," but have you heard about that other superhero? The alcoholic, homeless guy in the flip-flops? If not, it might be time to put Will Smith's postmodern comic flick on your radar, because it could be on the verge of creating another "John Hancock" revolution.
"We're halfway through it right now," explained director Peter Berg this week, giving us some exclusive details on the film. "Will Smith plays an alcoholic, suicidal superhero [whose actions are] destroying the city of Los Angeles, and he's trying to rehabilitate his image." "It comes out next summer," added Daeg Faerch, the young actor who landed a role in the flick after he was chosen to star in "Halloween" as the young Michael Myers. "It was called 'Tonight, He Comes,' but now it's called 'John Hancock' because he's a drunk and [when a fan] asks him for his John Hancock, he signs it 'John Hancock.' "Currently shooting around Los Angeles, the big-budget film — which has also been known simply as "Hancock," but whose title is still up in the air — puts Smith alongside Charlize Theron and Jason Bateman in a dark story that explores the flipside of being a superhero. So if the Venom-suited scenes from "Spider-Man 3" or the peanut-flicking bar moment in "Superman III" were among your favorites, "John Hancock" has your name written all over it. SOURCE OF THIS STORY

Visit the Dominican Republic

The Dominican Republic has always been a place that I’ve wanted to visit. Back when I was in high school, my best friend was from the Dominica Republic. So I’ve always has a fascination with Dominican people, their food, and their culture. Living in New York you are always crossing paths with the beautiful people from the Dominican Republic. Washington Heights has a large concentration of Dominican’s and you get just a taste of what the culture is like. But has the summer winds down there still is time to take a trip to the Dominican Republic. As I have heard from many Dominican’s I’ve encountered that the weather there in always beautiful and so are the beaches. The DR is a great place to visit to just relax and take in some sun. The have 800 miles of shoreline and amazing white sand. They also have tons of gambling/gaming slots where you can take your chance and see if the beautiful surrounding bring you any luck. So if your looking for your last minute summer vacation then the Dominican Republic is the perfect location.

Ne-Yo Takes to Ryan Seacrest’s Show to Explain His Britney Spears Situation

When did Ryan Seacrest’s radio show become Meet the Press for pop stars? When Paris Hilton was arrested for drunk driving, she called the American Idol host’s Los Angeles show to explain that her only crime was hunger. Now R&B star and songwriter extraordinaire Ne-Yo has used Seacrest’s airtime to explain what really happened to his rumored collaboration with the perpetually-coming-back Britney Spears. The dude who penned blockbuster single “Irreplaceable” with Beyoncé says he “lost all contact” with Spears after she shaved her head and went into rehab, but before that had written six to eight songs for her. Though he’d been an advocate for Spears in the past (he once called Kevin Federline “a freeloader”), Ne-Yo assumed Brit’s silence meant she was no longer interested in the songs, so he sold two of them to Pussycat Doll Nicole Scherzinger. Spears’ camp found out about the deal and asked why he was giving away the pop star’s tunes. “I’m like, ‘Hold on, y’all didn’t cut me a check,’” he said, reminding us of the first rule of the music business: pay up. Ne-Yo told Seacrest has since agreed to save two songs for Britney, but has no idea when or if she will actually record them. Perhaps she’ll debut one of them at the VMAs? SOURCE OF THIS STORY

London unveils Mandela statue

A statue of Nelson Mandela is being unveiled in London's Parliament Square today. Mr Mandela, who is 89, and his wife Graca Machel are joined by the Mayor of London and anti-apartheid campaigners, as well as gospel singers and dancers. This report from Emily Buchanan: Listen to the story The nine foot bronze shows Nelson Mandela standing and gesturing, as if making a speech. The idea for the monument was initiated by the anti-apartheid activist, Donald Woods. He chose the sculptor Ian Walters who began the work six years ago. Sadly, neither man lived to see today's ceremony. The statue's fate has been dogged by arguments over where it should go, as well as its artistic merit. The Mayor of London, Ken Livingstone, had wanted it to stand on the north side of Trafalgar Square. But in 2005 Westminster Council refused permission, saying it would clutter the space needed for large events. It was finally agreed it should face the Houses of Parliament and stand alongside other great leaders, such as Winston Churchill, Benjamin Disraeli and Abraham Lincoln. Gordon Brown will attend the unveiling. Yesterday he described Mr Mandela as 'the most inspiring, the greatest and the most courageous leader of our generation'. SOURCE OF THIS STORY

Emily Buchanan, BBC

Blacks say they’re left out of Katrina work

NEW ORLEANS - Black contractors on Tuesday said they have been frozen out of the rebuilding of this city because federal agencies continue to dole out millions of dollars to large corporations. At a news conference, the local chapter of the National Association of Minority Contractors called on Congress and federal prosecutors to investigate the contracting practices of the Army Corps of Engineers and the Federal Emergency Management Agency. The group also said they may resort to protests to get their message out. “There’s something wrong with this cozy relationship between the Army Corps and major corporations,” said Ernest Stalberte, an association board member. Stalberte delivered his remarks in a parking lot in a hard-hit part of New Orleans and he was surrounded by large digging and dirt-moving equipment brought in by black construction companies to show off their companies’ prowess. The government’s reliance on major companies, such as AshBritt Inc., Phillips and Jordan Inc. and ECC Operating Services Inc., to do the cleanup after Katrina has been a source of contention since Katrina hit on Aug. 29, 2005. A congressional committee has been calling for government agencies to do more business with small companies. According to the House Small Business Committee, the Department of Defense awarded 8 percent of its Gulf Coast recovery contracts to small businesses in Louisiana between August 2005, when Hurricane Katrina hit, and Oct. 4, 2006. However, that number dropped to 1 percent since then, committee figures show. The committee only had figures for the Department of Defense as a whole, but corps contracts have far outweighed other military branches for Katrina work. The corps disputes the committee’s figures and says that as of March 28, 88 percent of corps work has gone to small businesses in Louisiana. SOURCE OF THIS STORY

TONI BRAXTON: Now Battling Breast Cancer?

Has Toni Braxton gone from a Grammy Award winning, chart-topping superdiva to a drama-prone tabloid mainstay? It seems that way. Following reports of a financial faux-pas with a fashion designer, now comes word that the 'Unbreak My Heart' chanteuse is "secret battling breast cancer." According to the National Enquirer, Braxton learned about the disease two months ago, but preferred to keep the news to herself after doctors claimed she'd caught the disease early enough to conquer it. "She had experienced pain near one of her breast implants and decided to have it checked out," the tabloid reported. "They thought her implant was leaking," a "family insider" divulged. The Severn, Maryland native -- who's famously known for going bankrupt at the height of her recording career -- is reportedly undergoing radiation treatment and chemotherapy in secret. That's supposedly why the 'Another Sad Love Song' singer decided to continue her 'Toni Braxton: Revealed' show at Las Vegas' Flamingo Hotel and Casino. "Every two or three days she receives and iron infusion to combat anemia and fatigue caused by chemotherapy," the tabloid reports. "Toni is a fighter. She initially thought the worst, but doctors assured her the prognosis for her breast cancer is excellent. She still has moments when she gets upset and she may cry a little bit - but those moments don't last long," the source said. The bronze beauty broke down in tears on Jan 29 while co-hosting 'The View' -- the entire show focused on children with autism. (Her youngest son Diezel Ky was diagnosed with the neurological developmental disability.) Shortly after the show aired, she was engrossed in a mud-slinging legal ordeal with her ex-manager Barry Hankerson, which was later settled out of court. Although a two-disc retrospective of her 15-year recording career was released via Legacy/SONY BMG in February, there are currently no recording plans for Braxton. SOURCE OF THIS STORY

Blair Underwood Doing The Rap Game Again In 'The Hit'

Blair Underwood should have had a bigger career in Hollywood in terms of doing more films. Granted, it has been over twenty years since he first came into the spotlight in 'Krush Groove' and he's managed to stay in the game this long. With roles on TV's L.A Law, 'Set It Off' with Jada Pinkett Smith, and TV's short-lived 'City of Angels', some would say that his guest stint on 'Sex and the City' took him to a higher level. He was then seen in 'Something New' with Sanaa Lathan, and 'Madea's Family Reunion' with Tyler Perry. Just recently, he co-authored the fiction novel Casanegra: A Tennyson Hardwick Novel with husband-and-wife team Steven Barnes and Tananarive Due. Guess it was time for him to headline a film, BUT not on the big screen. Just released on DVD is his latest film, 'The Hit', which also stars DeRay Davis and Al B. Sure. Yes ladies, Al B. Sure is in the film acting. Hen (Underwood) has made it to the big time. Growing up in Compton and starting his own record label off of money he conned from a loan shark, he has built up a $300 million empire. But there's a problem: Like all other rap labels, despite their enormous success, a huge portion of their profits are continually siphoned off by the major distribution houses. Hen is sick of this and decides to revolutionize the business by bringing together his and other rap labels to form a confederation apart from the distribution houses - a confederation that would be self-funded and allow them to keep the profits they earn while being socially conscious within their communities. SOURCE OF THIS STORY

Chris Brown on the cover of Vibe

Is you hungray?

Missy Elliott has just signed a deal with Doritos to do an ad campaign for their new “Collision” chips. According to reports, the commercials debut September 17 and feature Elliott in the studio creating a “mash up,” while eating Doritos Collision chips, which contain two distinct flavor of chips. An online component to the campaign will also allow fans to create their own mash up singles, using the Grammy Award winning producer’s tracks in a competition for prizes. The advertising campaign also serves generate awareness for Missy Elliot’s upcoming album, The Countdown. (Source) I mean, we all knew Missy hit hard times, but wow. This sounds like some Saturday morning cartoons shit. Oh well, I suppose she’s “getting that money” anyway she knows how. Also, is Missy fat again? No shade. I’m just wondering, it being a chip ad, and all.

Meet the Newest Bad Boys...

Diddy took forever to announce the newest addition to the Bad Boy Entertainment Fam...The Making the Band 4 Finale aired live on MTV as Diddy let hopefuls go spontaneously throughout the hour-plus long show. The final group is Robert, Brian, Willie, Qwanell, and Mike No surprise really...I know many fans of Jeremy and D'Angelo are disappointed, however Donnie, who was the online fan-fave, is now a solo artist on Bad Boy which works best for him because he didn't fit in the group. I really am not a huge Donnie fan, but it's whatev, he is pre-packaged MTV marketing heaven. Oh, and we ALL knew he was going to pick 5, Ray Charles saw that coming a mile away! The new season is already planned...Making the Albums...MTB4 cats, Danity Kane, and Donnie will all have there album making trials taped for our viewing pleasure. I really want to see how many girlfriends will make it through the test. Brian is married though, so I suspect they will make it...SOURCE OF THIS STORY

Black Hollywood Joins the Campaign

By George Alexander ------ August 24, 2007--The race to the White House isn’t only heating up the Washington beltway but also the streets of Southern California from Santa Barbara to Beverly Hills. And it's the black entertainment community that's helping to fuel the machine. Oprah Winfrey is hosting a star-filled gala for Barack Obama at her Santa Barbara mansion on September 6, and right on Winfrey's heels is Ervin "Magic" Johnson. The former NBA star turned entrepreneur and his wife Cookie are welcoming Hillary Clinton supporters to their Beverly Hills mansion for a fund-raiser six days later on September 14. Hollywood is not new to the game of politics. But support from Black Hollywood is perhaps at its biggest level ever. With Obama in the race—arguably the most eligible black presidential candidate in the nation's history—along with Clinton with her enormous currency in the African American community, the quest to win influential black support is perhaps at an all-time high. Many consider Oprah's Obama event to be the hottest ticket of the entire campaign season. It sold-out in a flash and there's a waiting list of those still hopeful to attend. The gala will include a reception and a concert with an artist whose name remains a secret. Rumors say Beyonce and Jamie Foxx are possibilities. Young black celebs like Will Smith and Chris Rock are reportedly already signed up for the Obama soiree. Oprah organizers reportedly hope to raise between $2 million and $3 million at the event where they are asking the primary maximum of $2,300 per-individual contribution. SOURCE OF THIS STORY

Vick, Proportionality, and Race

By Shavar Jeffries --- Michael Vick plead guilty to three different conspiracy counts today.  I must say that I've found the entire episode to be a comedy of the absurd.  And without an available neutral principle to explain the vehemence of the reaction against Vick, I cannot comprehend the Vick experience in terms that are not inextricably linked to race. Let's start from the beginning: Vick was charged with three counts of conspiracy: 1) conspiring to gamble on dogfights -- an illegal activity -- and using violence to further that illegal activity -- apparently the killing of several of the dogs;  2) conspiring to engage in dogfighting; and 3) buying and transporting a dog in interstate commerce for use in a dogfight.  The first charge permits the imprisonment for up to five years; the second and third charges each permit only a maximum sentence of one year. The first is a charge under the Travel Act, a statute enacted in response to burgeoning organized crime and racketeering.  While the statute was plainly geared toward mob activity, the language of the statute encompasses a wide range of conspiracies, largely due to definitional challenges in isolating those conspiracies specifically linked to traditional organized crime.   I doubt seriously that Congress contemplated that the killing of dogs would suffice as the kind of "crime of violence" that would justify prosecution under the Travel Act.  And for good reason.  Dog-killing does not pose the same sort of social, cultural, and economic harms that violence against human beings poses in the context of organized crime.  That doesn't mean that dogfighting doesn't pose cognizable social harm; it simply means it isn't the sort contemplated by the Travel Act.  Charging Vick under the Travel Act, in my view, is an unjustifiably expansive application of the statute, and is representative of the broader over-reaction to this episode. The last two charges were brought under the Animal Fighting Venture Prohibition statute, which deals directly with organized animal fights and related activity.  These charges trigger much more reasonable misdemeanor punishments, permitting imprisonment for less than one year and a fine of no more than $15,000.  I say much more reasonable because, again, I cannot imagine Congress imagined applying the Travel Act to acts of violence involving animals, and in any case I believe the law does and should value violence against humans at a higher level than violence against animals. The fighting-venture statute also highlights some of the hypocrisy behind the Vick prosecution, as the statute specifically exempts fighting ventures involving "live birds" in those states that specifically legalize such ventures.  This illuminates hypocrisy because I see no principle distinguishing the social or moral harm of indiscriminately killing dogs from that of indiscriminately killing "live birds." Ultimately, I find the entire Vick episode to be a comedy of the absurd.  At the end of the day, he bet on dogfights, and subsidized an enterprise that sometimes wantonly killed dogs who weren't top fighters.  As a consequence, he's already lost millions in endorsements and has suffered incalculable damage to his reputation.  The federal court is now considering a term of up to five years; and the NFL apparently a ban of an additional year on top of his prison sentence. In my view, anything beyond six months imprisonment would be outrageous; and any suspension by the NFL beyond the several games players routinely get for violence against women or drug abuse would be equally unjustifiable.  If Vick had bet on bird fights, he apparently couldn't be prosecuted at all in many states.  Severe harms are perpetrated against human beings on a daily basis with nothing remotely resembling the witch-burning Michael Vick is experiencing.  I love dogs, too, but I love humans more.  Michael Vick should pay a price, but the price should be proportionate to the harm and should not cause more harm than necessary.  Destroying the life of a 27-year-old because of his poor decisions concerning dogfighting would be unconscionable in a nation that prided mercy as much as this nation says it does.  I don't like invoking the race card, but because I cannot explain the hysterical reaction to Vick's conduct on the basis of a neutral principle, I fall back to an unshakable perception: It wouldn't have went down like this is Mike Vick were white. SOURCE OF THIS STORY

The Future of Tennis: From Althea Gibson to the Williams Sisters to Donald Young and Scoville Jenkins

The Future of Tennis: From Althea Gibson to the Williams Sisters to Donald Young and Scoville Jenkins, Today Venus and Serena Williams will take part in a special tribute to tennis legend Althea Gibson, who 50 years ago today became the first African-American to with the US national championship. Both sisters will take part in a ceremony tonight which will also feature 19 prominent African American women to take part in an on-court tribute to the late Gibson. They include singer Aretha Franklin, Olympian Jackie Joyner-Kersee, and Carol Moseley Braun, who was the first African American female to become a U.S. senator. “I’ve always dreamed of being on the same level as her, to have an opportunity to play tennis,” Serena to the press on Saturday. “For her to be the pioneer to all of tennis, not just female tennis, but all of tennis. It’s just amazing for me to be honored to even mention her name.”
SOURCE OF THIS STORY

Alicia Keys drops a sneak peek of her new single on SayNow!

Being Michael Vick (it isn't pretty)

A reporter who once met the disgraced star goes in search of how such a talent could go so wrong; Jerry Langton, toronto star ---- By necessity, trial lawyers have to be creative, even intentionally misleading. Before Atlanta Falcons quarterback Michael Vick accepted a plea bargain earlier this week, his legal dream team – Billy Martin, Lawrence Woodward Jr. and Daniel Meachum – pinned their defence on the concept that Vick was a mere stooge, manipulated by his friends as they used his home, wealth and money to stage dogfights, while he was blissfully unaware. But knowing what I know about Vick and his former friends and co-defendants – Purnell Peace, Quanis Phillips and Tony Taylor – it seems utterly ridiculous. It's actually reminiscent of the Simpsons episode in which a cadre of hardened Mafiosi claim immunity by blaming their entire operation on 10-year-old Bart. I met Vick once – long before he was accused of almost unbelievable cruelty to animals. Actually, I was one of many journalists mobbed around the superstar quarterback as he held court. Anyone could easily see, even feel the star quality that came from him. He's a handsome young man, and very charismatic. But there was something amiss when he began to talk. Not only did Vick use poor grammar that seemed at odds with his otherwise intelligent banter, but he treated every question and comment that wasn't abject fawning to be a personal attack. He glared at reporters and refused to answer questions on any subject other than how great he was. Vick was also ushered in and out of the press conference by a phalanx of earthy young men, all bedecked in the trappings of conspicuous consumption, as though the journalists who sought his comments were an angry mob he needed protection from. He seemed, for all his blessings and success, to have a massive and hard-to-understand chip on his shoulder. It's a chip that may have gotten him into big trouble. Despite all this fame and fortune, Vick has admitted to organizing dogfights, betting on them, and even brutally murdering those dogs he feels don't show enough killer instinct to be fighters. Vick sought a plea bargain after Peace, Phillips and Taylor pleaded guilty and pointed their fingers squarely at the star quarterback. Not coincidentally, the prosecution hinted that they would pursue racketeering charges against him, which could result in far stiffer penalties. It was a weak act, one made more understandable after reading the horrific details of the case, which paint Vick to be a heartless, even sadistic, man. It all seems very incongruous with his public persona. Though a Pro Bowl quarterback, Vick could have played any skill position in football and easily been among the best. His speed, athleticism, vision and elusiveness are transcendental. In more concrete terms, he is a very rich young man, after having signed an NFL-record $130 million (U.S.) contract in 2005, which included a $37 million signing bonus. But it's hardly the first time Vick has run afoul of public mores.In 2004, two men were arrested in Virginia with a pickup truck bed full of marijuana – the truck belonged to Vick, but he escaped prosecution by blaming it on the drivers. In 2005, he was sued by a woman who claimed she'd contracted genital herpes from him while he used the pseudonym "Ron Mexico." He settled out of court. About a year later, he treated booing hometown fans to a double middle-finger salute. And in January 2007, he was caught at an airport with a water bottle that had a secret compartment that officials said smelled strongly of marijuana and contained a great deal of marijuana residue. His behaviour and self-discipline were so bad, according to press reports, that the Falcons had to hire former NFL and CFL star Billy "White Shoes" Johnson to keep him and his entourage out of trouble and even to drive Vick to court appearances. Youthful exuberance aside, why would a person as singularly gifted and wealthy as Vick risk his reputation and enviable livelihood on an activity that the overwhelming majority of people find abhorrent? Well, there are a few theories. The one most commonly heard on the street and posted on the Internet (often by Canadians) usually begins with the phrase, "You can take the boy out of the ghetto..." But it just doesn't hold up. Although Vick grew up in public housing in Newport News, Va., (a city often referred to as "BadNewz" in hip-hop lyrics), he didn't have it all that bad. His parents stayed together and both worked very hard to ensure his success. Even if they hadn't, it wouldn't explain such NFL greats as Warrick Dunn, Patrick Willis, Deuce McAllister and Marshall Faulk and others who emerged from much more dire circumstances and are nothing less than exemplary citizens. Then there's the spoiled athlete theory. It's true that Vick's talent was recognized very early and that he has had a life in which he has been almost constantly praised and, probably, forgiven many minor transgressions. "To some degree, there is a sense of entitlement and a sense of things get overlooked and things get taken care of and the rules don't apply," says Jonathan F. Katz, a Manhattan psychologist who helps professional sports teams deal with big egos. "It's like a parent – if there's tacit approval of misbehaviour and there are no consequences, the message on some level is it's okay."While that might explain the Ron Mexico incident or the water bottle, it seems unlikely that too many sports fans, no matter how rabid, would forgive Vick's alleged bloodlust for pitting dogs against each other, or killing the less willing dogs by gunshot, strangulation or repeatedly slamming them to the ground. Cruelty to animals – along with bedwetting and fire starting – make up what's known among psychologists as the MacDonald Triad, an indicator of anti-social personality disorder (APD). People with APD (who used to be called "psychopaths") are defined as those unable to feel any empathy for those around them, including animals. Among other symptoms, people with APD may lie persistently, have a lack of remorse for hurting others, display aggressive or violent behaviour, a sense of extreme entitlement and, often, superficial charm. There's no consensus on what causes APD, there's not really a lot that can be done about it, and according to some studies, it affects up to 5 per cent of young men.In 1998, three intrepid American scientists – Rhonda Evans, DeAnne Gauthier and Craig Forsyth – went undercover and studied dogfighting in the United States. They found that the participants were generally poor, usually rural and overwhelmingly white. Not exactly Vick's crowd, no matter how much of the media have painted them as such. Of course, there were exceptions. But the one tie that bonded all the dogfighters in their study became their thesis: "As long as the status of manhood continues to be `precious' and defined as something that must be earned, males will continue to seek avenues by which to validate their status as men. Males who face limited opportunities for masculine expression within the boundaries proscribed by the dominant culture may seek avenues outside of these boundaries, even if they are illegal. Failure to achieve (or even failure to aspire to) the culturally constructed and defined goal of masculinity is often considered, by many males, far worse than any legal penalties they might incur in the process."Prominent British psychologist Elie Godsi agrees. She said: "It's about power and control, and it appeals to people who feel insecure and insignificant and powerless in their own lives so they take it out on creatures less powerful than them by training them to be aggressive; it satisfies a rather seedy bloodlust among people who often feel disenfranchised and alienated from society."While it may seem unfathomable to those of us who see a young man with movie star good looks reel off 90-yard runs or fling 70-yard passes, it would seem that part of Vick's problem is that he doesn't feel he's man enough. We may never know why, but you can be sure he does. But what he doesn't realize is that no amount of dogs' blood will ever change that. SOURCE OF THIS STORY

Mortgage Mess Hurts Main Street, Beyond

The walls are bare, the closets are empty, and Connie and Timothy Pent and their two teenage children are living out of boxes as they wait for a dreaded knock at the door of their three-bedroom house in Ocala, Fla.They've fallen behind in payments on a their home loan, and their lender told them in July that foreclosure was imminent."We thought we were fine," said Connie regretfully. "You never know."An increasing number of homeowners and prospective homeowners are getting caught up in the fast-spreading mortgage crisis that is claiming victims from all income levels and demographic groups. Like the Pents, many are trying desperately to get their loan terms reworked but are finding it's not possible in a tightened market. For five years, the housing boom put money in the pockets of lenders, brokers, realtors and investors and granted easy mortgages to homeowners with both good and blemished credit. But as home prices decline and interest rates climb, the cracks in the housing market's foundation are widening. Exotic mortgages, once hailed for helping to increase U.S. homeownership to its highest level at 68.9 percent, have become the undoing of an entire industry and, most heartwrenching, millions of homeowners. Loans with adjustable rates, payment choices and loose requirements have trapped borrowers in too-high payments with few options for escape. Some have taken on second and third jobs, depleted savings, retirement and college funds and wrestled with lenders to stave off foreclosure. Those who fail see their homes sell to the highest bidder at an auction."The increasing availability of mortgages has been an important and positive long-term trend," said Doug Elmendorf, a Brookings Institution economist. "But like many positive developments, this one was taken to an unjustifiable extreme."Many of the victims are subprime borrowers — those like the Pents who don't qualify for market interest rates because of blemishes on their credit record. The Center for Responsible Lending estimates that 2.2 million subprime home loans made in recent years have or soon will end in foreclosure.But there are many other ways to be hurt in the mortgage crunch. Many prospective home buyers, through little fault of their own, are having trouble getting mortgages because of the changing market.Others were sold on too much house, piled up huge loans based on the inflated value of their property and didn't fully understand the interest rates they would have to pay. Now, they are struggling to keep up with the payments. The bloodletting won't slow anytime soon as more of these exotic loans reach the tipping point in the next year. Nearly $1.12 trillion worth of hybrid and traditional adjustable-rate mortgages were originated in 2005 and 2006, while $779.13 billion of interest-only ARMs were issued in that period, according to a survey from the Mortgage Bankers Association. Many of these loans offered low "teaser" interest rates that will reset through 2009, slamming borrowers with higher rates that could send them into delinquency if they can't refinance. Attempts to rework troubled loans will become increasingly common as the crisis picks up speed, said James Gaines, a research economist with The Real Estate Center at Texas A&M University. After all, foreclosure benefits neither lender nor borrower. The problem, he said, is that the lender may not have any authority to redo them because of the way loans are now bundled and resold, with repayment risk changing hands several times."It's unlike the old days where the bank you borrowed from just kept your loan on the books," he said. SOURCE OF THIS STORY

GRAND OPENING THE OAKPOD

PUSH PLAY August 25th
THE OAKPOD'S GRAND OPENING

3:00 Art Reception
5:00 Poetry and Pastries
7:00 Stand Up Comedy
9:00 Fashion Show

$5 all day pass (before 6pm)
$10 (after 6pm)

450 Santa Clara Ave, Oakland
www.theoakpod.com
[email protected]

 

REAL TALK ON KEEPINGITREALONLINE.TV

Promo log on today to Keepingitrealonline.tv Highlights of past shows, celebrity interviews, original series, indepedent flim clip. Join us and experience our internet television.; Keepingitrealonline.tv; Now Showing; psa; Tim'm West came back to Oakland to attend the 5th Annual LGBT Oakland Intl. film festival and share his amazing new CD entitled "Blakkboy Boy Blue(s). Live performance at the Club Uptown downtown Oakland, CA.; California; club uptown; film festival; live performance; oakland; spoken word; tim'm west; On this episode of Real Talk, we step inside the DJ Booth and talk with some legendary DJs. Live at Lukas the official after party for the 5th Annual LGBT Oakland Intl Film Festival.; 5th Annual Oakland LGBT Film Festival; David Harness; Lukas Oakland; On opening night on this episode of REAL TALK hosted by Archie Brumfield, we catch up with filmgoers in line wating in line outside the Parkway Theatre to participate in the "sing along" while watching the classic "THE WIZ".; 5th Annual Oakland LGBT Film Festival; Ca; Parkway Theatre; oakland; Advertise with us, at Keepingitrealonline.tv; Advertise; Keepitrealfilms; Lifetime Achievement Award winner, at the 5th Annual Oakland International Film Festival, Mr. Clay shares his thoughts about this years' film festival, and his inspirations over the years. He also talks about his new book entitled "The Looker".; 5TH ANNUAL LGBT FILM FESTIVAL; author; California; oakland; STANLEY BENNETT CLAY; THE LOOKER; A drug lord smuggles heroin into Harlem during the 1970s by hiding the stash inside the coffins of American soldiers returning from Vietnam.; American Gangster; Cuba Gooding; Denzel Washington; Jr.; Ridley Scott; Russell Crowe; While attending the first "Blatino Oasis" held in Palm Springs sensational erotic artists Belasco shares his visions of the event. He talks about a sex positive event in which people can come together and celebrate themselves.; Belasco; Blatino Oasis; Real Talk on Keepingitrealonline.tv; artists; The story of an individual who has found courage in her transition from a woman to a man. Joining the "Brotherhood" of men. Coming Soon.; Gay & Lesbian; Health; On this new season, we decide to take to the streets, and ask real people, with real issues to talk about it. Special interest reports, cultural showcase, and original series presentations. HOW YOU LIVING is our question to answer. http://link.brightcove.com/services/link/bcpid1079069393http://www.brightcove.com/channel.jsp?channel=296761845