“WASHINGTON – The U.S. Department of Housing and Urban Development’s Mortgagee Review Board (MRB) today immediately suspended Allied Home Mortgage Corporation, thereby preventing the company from originating and underwriting new mortgages insured by the Federal Housing Administration (FHA). HUD is also suspending the company’s president and chief executive officer, James C. Hodge, and proposing to debar him as well as the company’s executive vice president, Jeanne L. Stell.”
http://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2011/HUDNo.11-258

[quote=SK in CV]You really think unemployed people are on vacation? I was recently unemployed for 10 months. Spent 2-3 hours every week day, usually weekends too, looking for work. Another 2-3 hours every day making phone calls and networking. I was fortunate my wife had full time employment, I got my $900 every two weeks for unemployment, and other than a $4,500 emergency dental bill, I didn’t have to take any money out of savings. If I wasn’t so fortunate to have a wife with a good paying job, I wouldn’t have been able to pay my more than $1,000 a month for medical insurance. And would have walked around in pain, popping 16 ibuprofen every day for more than 5 months because of two broken crowns.

I think I was a lot luckier than most. There is nothing about being unemployed that feels like the american dream.[/quote]
You are part of the 1%. People are abusing unemployment like crazy. It is all a huge waste of tax dollars. I would rather give my buddy a place to stay and feed him then keep paying into that worthless, money sucking, economy wrecking program and programs like it. Give me back the 3% per paycheck and I’ll put it to much better use for the common man.

More loans are not the answer to bad loans. This is another failed initiative which attempts to addresses the problem without addressing the underlying causes of the problem.

[quote=SK in CV]Madmaxx, you don’t pay 3% of your paycheck to unemployment. Your employer pays it. And it’s not 3%, it’s a floating rate based on employer’s unemployment experience rate. And it’s not on all wages, in California and most other states, it’s only on the first $7K of annual wages.

I can’t deny that there is some abuse. I suspect the level of abuse is small. But it isn’t enough money to maintain the lifestyle compared to a full paycheck. With somewhere between 9 and 17% unemployment, it is among the most “common man” government program that exists.[/quote]
If my company pays it on my behalf it still comes out of my salary no matter what hocus pocus you believe. The money the employer and the GOV pays into these programs is such a waste. 50% is probably blown in DC paying the heads of the programs out $140k salaries before it ever gets out to the people. I don’t like 50% returns on the dollar. Some of us have a network of friends to rely on in tough times and a good nest egg, some of us most not have friends.

[quote=SK in CV]…..And unemployment no more comes out of your salary than your employer’s rent does. Or software licenses for your company computer. Your employer pays those things in order to have employees. A salary burden just like unemployment taxes. And neither is it paid in on your behalf…..[/quote]

We (at my company) have to reduce employee pay by the cost of mandatory contributions. Everyone else I know does the same. It’s not a political plot, it’s just straightforward economics. All this splitting of contributions between employees and employers is just for show, to make the amounts feel smaller.

I don’t begrudge having my net pay reduced for these transfer payments to others. I am amused how people fall for the not-very-subtle sleight of hand involved.

[quote=SK in CV][quote=patientrenter][quote=SK in CV]…..And unemployment no more comes out of your salary than your employer’s rent does. Or software licenses for your company computer. Your employer pays those things in order to have employees. A salary burden just like unemployment taxes. And neither is it paid in on your behalf…..[/quote]

We (at my company) have to reduce employee pay by the cost of mandatory contributions. Everyone else I know does the same. It’s not a political plot, it’s just straightforward economics. All this splitting of contributions between employees and employers is just for show, to make the amounts feel smaller.

I don’t begrudge having my net pay reduced for these transfer payments to others. I am amused how people fall for the not-very-subtle sleight of hand involved.[/quote]

Huh? You do what? Who is everyone else? Unemployment insurance is not split. Never has been. I think you should check again. The likelihood that your net pay is reduced by unemployment insurance paid by your employer is nil.[/quote]

NOT! Anything your employer pays comes out of his pocket just like your paycheck. It’s money he could have paid you instead of wasting it 50% of it in Washington before it rolled back into your pocket. He could have reinvested it in your retirement, or hired new employees and lowered your workload. It is a federal mandate as well:

http://www.edd.ca.gov/Unemployment/Federal_Unemployment_Insurance_Extensions.htm

Why do people agree to these federal programs that give 50% returns on the dollar for a “Safety Net” that is sinking out economy in debt!

[quote=markmax33]

NOT! Anything your employer pays comes out of his pocket just like your paycheck. It’s money he could have paid you instead of wasting it 50% of it in Washington before it rolled back into your pocket. He could have reinvested it in your retirement, or hired new employees and lowered your workload. It is a federal mandate as well:

http://www.edd.ca.gov/Unemployment/Federal_Unemployment_Insurance_Extensions.htm

Why do people agree to these federal programs that give 50% returns on the dollar for a “Safety Net” that is sinking out economy in debt![/quote]

Nice link. But there is nothing in there to substantiate 50% overhead. And you just repeated the same uninformed crap. It’s NOT primarily funded out of Washington, it’s a state program. Stick your fingers in your ears all you want when you’re told facts that don’t conform to your ideology. It doesn’t change the facts. Your 50% return model doesn’t work. Every government program is not the same. Just like some Ron Paul advocates can make better arguments than others.

And sdrealtor is right. If employers didn’t pay it, you wouldn’t get it. They would.