How The Paulistinians Lost Me Part 1

June 22, 2011

I remember the day that I chose to support Ron Paul for President, that day was July 7, 2007. I was in Miami for the Young Republican convention at the Westin Hotel in Hollywood. The previous days of the convention there was this quirky young fellow with a mousy look to him that was every where I turned with his Ron Paul sign. That Saturday, we took a bus to a private party on South Beach. I remember going in but the club was simply too packed for my liking. So I stepped out to grab a bite to eat.

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Since Fidel took over Cuba, the best place to get a good Cuban sandwich is in Miami and I looked around for a place to eat. There he was again, that quirky fellow with a mousy look sitting at a table by himself, a Ron Paul sign by his feet. I asked him if he minded that I sat down with him and ate my Cuban, to which he agreed.

The company was welcomed and I asked him why he liked Ron Paul so much. Question after question he answered, and the more I asked, the more he had the right answers. Ron Paul, it seemed, was my kind of less government, less taxes kind of guy. I have since acknowledged that I made a mistake.

For the remainder of the year, I was focused on Louisiana races. A lot of open seats that year and the GOP looked to make some gains. Despite the business of state campaigns, I would take Ron Paul stickers with me to GOP events and put them on the table. Soon November came and the elections were over. After taking some time off, it was now time to look at the Presidential elections. I looked up Ron Paul, found his meet-up group in Baton Rouge, and decided to join it.

I’m not going to mention any names here because 1. They are still private citizens engaging in politics, and 2. a lot of this is he said, she said. The meet-up was typical a round of introductions. When it came to my turn, I stated that even though I disagree with Dr. Paul on the war, I like the overall picture that I saw in him. There were a couple of people there that I did know, but for the most part, these were young people that were just getting involved in the process.

I told them that how to do the caucus, I gave them the best advice that I could. I talked to a blond headed fellow and explained to him that a Ron Paul ticket is not going to produce equal votes for everybody. It never does. People go in and though they intend to vote for a ticket, will often cast one of their votes against the ticket in favor of somebody else they know. Figuring that I probably could pull a few votes away from other tickets, a strong showing would get me into the convention as a delegate. I explained to the blond haired fellow that it’s better to get at least 1 than none, so make sure that I was on the ticket. He agreed.

The ballot of names was kept secret as group leaders claimed that there were “spies in the group from the other campaigns”. I quickly dismissed this as amateurish and chalked it up to inexperience. Certainly they weren’t talking about me, after all, why would I give them good advice if I was trying to work against them?

The day before the GOP Louisiana Caucus, Ron Paul came to town. He packed the house. I saw the blond headed fellow up front and I walked up to him and asked him, just to confirm that I was going to be on the ticket. It was at this time that he informed me that he didn’t, he never intended to, and that he had his people picked out way back then.

Now I admit, I was furious. I paid the LAGOP whatever it cost to be on the ballot with the understanding that I was going to be on the Ron Paul ticket, and here this blond head fellow is informing me with just over 24 hours left before the voting began that I’m out on my own. He didn’t want to put me on the ticket, fine, but don’t tell me at the last second and expect me to fend for myself. I could have got on somebody else’s ticket. No, thanks to this blond headed fellow, who I trusted to be honest and sincere turned out to lie, manipulate, and be what exactly is wrong with politics.

That night I went home, looked up the names of people I knew that were running as delegates. Names of people I recognized as being active in the Republican party. I put the names together, posted it on this website, then went to Kinkos. The ticket I put together was simple. It stated Louisiana Conservative supports the following people for delegate to the state convention. With my stack of papers in my hand, I went down to the caucus center in Baton Rouge, and began to hand out that paper to every single person that came through the door.

Person after person took my ticket and though a few shook it off, most looked at it. That night, I walked away with my handful of votes that people had given me even though I wasn’t on anybody’s ticket. Ron Paul’s closest person to winning a delegate had missed by less votes than I received on my own. I like to think that I stripped just enough votes away to prevent them from winning. Had they not lied to me and waited until the last minute to tell me otherwise, I probably would not have been pushing my own ticket. That’s not how it turned out, they lied to me. It, for lack of a better word, pissed me off, and I, well I settled the score. Unfortunately, RP’s army now turned against me.

To Be Continued…
Part 2
Part 3
Part 4

Points to Pursue: Locking In, Deed of Trust

The Washington Post November 21, 1998 | Benny L. Kass Q: We have signed a contract to buy our first house and are both excited and concerned. Our broker gave us the names of three potential mortgage lenders and we have been advised to shop around. We have heard that rates are moving up and several people have suggested that we now lock in a rate.

What is a “lock-in” and do you recommend it? And what is a deed of trust?

A: Your second question is easier to answer. Oversimplified, a deed of trust is the same as a mortgage. Both are written documents that are recorded in the land records in the jurisdiction where your property is located. Both are designed to put the world on notice that your house is not owned free and clear. The purpose of recording is to ensure that you can’t sell the house without paying off the outstanding loan to your lender. “Mortgage” is generally defined as a conveyance of property to a creditor as security. When the loan is paid in full, the mortgage is released from the land records. Many years ago, to simplify mortgage lending, the concept of the deed of trust was developed. When a homeowner borrows money to buy or refinance a home, the owner deeds the property in trust to a third party. That party, which can be an institution or an individual, holds the property in trust for the lender’s benefit. If the loan is paid in full, the trust is released from the land records. If the loan goes into default, the trustees have the legal authority to sell the property at a foreclosure sale. The successful buyer at such a sale obtains a “trustee deed” to the property, which conveys clear title to that buyer. In my experience over many years, I have seen very few mortgage documents. The deed of trust is the common form of legal instrument used in the Washington area. Now let’s turn to the lock-in question. Mortgage lenders often complain that their potential borrowers never object when rates are falling, but are constantly upset when rates are on the upswing. Unfortunately, although rates still are quite low, they have begun a slow rise. Many borrowers are now faced with the possibility that the interest rate they applied for and were supposedly locked in to no longer will be available. Oversimplified, a “lock-in” rate means you have a binding commitment from a mortgage lender that for a fixed period of time, usually 30 or 60 days from the time of application, you are going to obtain the rate that was locked in by the lender. In my opinion, the primary cause of consumer concern stems from lenders’ lack of communication with their borrowers. A few years ago, the Federal Reserve Board prepared a very helpful publication, “A Consumers Guide to Mortgage Lock-ins.” (FRB 3-50000-0691-C). The Fed’s definition of a mortgage lock-in is worth quoting: “A lock-in, also called a rate-lock or rate commitment, is a lender’s promise to hold a certain interest rate and a certain number of points for you, usually for a specified period of time, while your loan application is processed. A lock-in that is given when you apply for a loan may be useful because it’s likely to take your lender several weeks or longer to prepare, document and evaluate your loan application. During that time, the cost of mortgages may change. But if your interest rate and points are locked in, you should be protected against increases while your application is processed. It is important to recognize that a lock-in is not the same as a loan commitment, although some loan commitments may contain a lock-in.” The Fed points out that there are many different kinds of lock-ins. Options include a locked-in interest rate and locked-in points, a locked-in interest rate with floating points, or a floating interest rate with floating points, where the lender gives the borrower the option to lock in any time before settlement. Unfortunately, too many lock-ins are verbal commitments, which are not reduced to writing. It is important that you get a written document spelling out the terms and conditions of your lock-in commitment. At the very least, if the lender refuses to confirm in writing the terms of your lock-in, send a letter to the lender by certified mail, return receipt requested, confirming the lock-in commitment. In my opinion, the lender who locks in a rate, and then is unable to meet that deadline, may be in breach of contract. To have a valid, binding contractual obligation, three elements are required. First, there must be an offer. Here the lender has offered a “locked-in rate” to the borrower. Second, there must be an acceptance of that offer. Again, the borrower–by telling the lender that he will take that locked-in rate–has validly accepted the offer. The third element is consideration. Usually, consideration is in the form of money. The borrower has given the lender money for the appraisal, the credit report and often one or more of the points that will have to be paid at settlement. Even if the borrower does not give money as consideration, law books also define consideration as something of value other than dollars. In your case, if you refrain from looking for another lender and rely on the lender’s representations, that also constitutes valid consideration so as to make a contract between the parties. It should be noted that the offer and the acceptance need not be in writing. While a written document is needed for a realty sale, in this case we are not dealing with real estate–but rather the financing of that real estate–and oral representations are binding, assuming of course that they can be proven. In the mid-1980s, when interest rates were fluctuating, the Maryland Court of Appeals issued an opinion stating: “The inducement of a guaranteed rate of interest . . . especially in a time of fluctuating interest rates, clearly is intended to entice the customer to deal with the offering bank, rather than with some other lender. “Although the customer does not covenant that he will refrain from simultaneously making application with other lenders, we think the practicalities of the home loan market, and particularly the expense of each application, have the effect of at least temporarily taking the customer out of the market. As a greater number of loan applications may be expected to result in a greater number of loans, and thus, a greater profit, business advantage to the bank is real, even though every application will not lead to a profit.” Now that rates are starting to go up, we will start to see more lock-in problems. Lenders can avoid this situation by disclosing to the borrower in writing the terms of the lock-in commitment. Usually, these lock-ins run for only 60 days. The borrower should be advised of this time limitation. The lender then has an obligation to process the loan promptly and I recommend that borrowers contact their lender weekly to ensure that the loan process is moving forward. Kass is a Washington lawyer. For a free copy of the booklet “A Guide to Settlement on Your New Home,” send a self-addressed stamped envelope to Benny L. Kass, Suite 1100, 1050 17th St. NW, Washington, D.C. 20036. Readers may also send questions to him at that address. website deed of trust in our site deed of trust

Benny L. Kass


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