Friday, December 29, 2006

Gerald A. Ford 38th President of the United States; July 14, 1913 - December 26, 2006


Please feel free to click on the following address to see official information regarding the passing of our 38th president Gerald Ford this week in California
http://geraldfordmemorial.com

Following is a news article from one of the news services.

Posted on: Friday, 29 December 2006, 06:00 CST
Tributes to Ford Begin in California

By ALLISON HOFFMAN
PALM DESERT, Calif. - The formal mourning of Gerald R. Ford begins with a public viewing at church pulpit just feet from where he and his wife sat every Sunday after their White House years - "The President's Pew."
Ford's family was to have a private prayer service at St. Margaret's Episcopal Church on Friday before the start of a public viewing expected to draw thousands of people to the desert resort town 110 miles east of Los Angeles.
Former first lady Betty Ford, 88, and her four grown children were to receive his casket from a military honor guard at the church, where the couple began worshipping in 1977. Former President George H.W. Bush and his wife, Barbara, among others, joined the Fords there over the years.
Mrs. Ford will then accompany her husband's body across the nation for a series of ceremonies that includes two funeral services in Washington, D.C., and another in Grand Rapids, Mich., where he will be entombed Wednesday.
Ford died Tuesday at age 93 with his family at his bedside.
He assumed the presidency when Richard Nixon resigned in 1974 amid the Watergate scandal, but was defeated by Jimmy Carter in the 1976 election. The Fords began attending St. Margaret's after retiring to Rancho Mirage.
Tight security was planned at the church, with the entire campus locked down for Secret Service sweeps and surrounding residential streets blocked off. In a nod to Ford's Navy service, a sailor was deputized to fly the presidential seal from an ebony staff as Ford's casket is taken from the hearse.
People hoping to pay their respects to the nation's 38th president during the public repose will be shuttled to the church from a tennis center several miles away, and will not be allowed to bring personal items including cameras, cell phones, purses or flowers with them.
After arriving at Andrews Air Force Base on Saturday, the coffin will be taken to the Capitol in a funeral procession, then carried up the steps of the East Front of the House by a military escort.
It will then lie in repose in front of the House chamber and be carried into the Rotunda for a ceremony and public viewing before being moved to the National Cathedral on Tuesday for funeral services there.
Some of the most regal touches of a full state funeral are being bypassed, by request of his family and, most likely, according to Ford's own wishes.
In Washington, a hearse rather than a horse drawn caisson will drive Ford's casket to the Capitol. Fighter jets will do a flyover with a "missing man" maneuver only in Grand Rapids, where Ford will be interred on a hillside north of his presidential museum. He spent most of his childhood and practiced law in the city before representing the area in Congress for 25 years.
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Associated Press writers Jeff Wilson in Rancho Mirage, Calif., and Calvin Woodward and Laurie Kellman in Washington contributed to this report.
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On the Net:
Gerald Ford Memorial: http://geraldfordmemorial.com/

Source: Associated Press/AP Online

Buying vs. Renting Your Home

Featured Articles
• Buying vs. Renting Your Home
• Buy vs. Rent: Pros and Cons
• Buy vs. Rent: Cost Comparison
• The Trivia Block


Buying vs. Renting Your Home
Is now the right time for you to buy a home? You have many options to consider and choices to make. Buying a home is a big responsibility, financially and emotionally, but, most people want to own a home. Homeownership often is referred to as "the American dream." Why is it so special? Among the reasons: Real estate often is an excellent investment, perhaps the number one source of wealth-building for families.
Owning a home has many benefits. When you make a mortgage payment, you are building equity - and that's an investment. Owning a home also qualifies you for tax benefits that may assist you in dealing with your new financial responsibilities - such as homeowners' insurance, real estate taxes, and upkeep - which can be substantial. But given the freedom, stability, and security of owning your own home, they are definitely worth it! Owning your own home also can be a great source of pride and stability.
But homeownership may not be for everyone. It's a big financial commitment - starting with the initial shock of your purchase (including a "down payment" and fees paid to a real estate agent, the lender and others) followed by years of monthly mortgage payments, real estate taxes, property insurance and maintenance costs. When you decide to purchase a home, you accept responsibility for paying for these expenses. They are additional costs to your monthly mortgage payment and should be included in your budget estimates: Property Taxes and Special Assessments, Home/Hazard Insurance, Utilities, Maintenance, Home Owner Association (HOA) Fee if applicable.
One of the advantages of renting is being generally free of most maintenance responsibilities and the flexibility of moving almost as soon as you decide. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for your housing needs. There are many considerations in choosing between renting and buying:
• Do you want to spend several years in a house and in a neighborhood?
• Do you enjoy lawn and garden work?
• Might you need to move suddenly to care for family?
• Do you want to keep your assets accessible in the bank, or do you want to invest long-term in a home?
There are tax advantages to homeownership in both the short and long terms. The mortgage interest and real estate taxes are tax deductible, which allows you to subtract part of your housing-related expenses from your taxable income, which could reduce your tax bill. In many cases, the amount of money a renter spends on rent can be about the same as or less than the amount a homeowner spends on a mortgage. With the tax benefit for homeowners, the savings can be significant.

Buy vs. Rent: Pros and Cons
. Advantages Considerations
Buy Property builds equity Responsible for maintenance
Sense of community, stability, and security Responsible for property taxes
Free to change decor and landscaping Possibility of foreclosure and loss of equity
Not dependent on landlord to maintain property Less mobility then renting
Rent Little or no responsibility for maintenance No tax benefits
Easier to move No equity is built up
. No control over rent increases
. Possibility of eviction


Buy vs. Rent: Cost Comparison
The chart below shows a cost comparison for a renter and a homeowner over a seven year period. The renter starts out paying $800 per month with annual increases of 5%.
The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000. After 6 years, the homeowner's payment is lower than the renter's monthly payment. With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years.
Yrs Rent Mortgage Payment Monthly Diff. After Tax Savings Yearly Diff. After Tax Savings
1 800 1000 -200 -50 -2400 -600
2 840 1000 -160 -10 -1920 -120
3 882 1000 -118 +32 -1416 +384
4 926 1000 -74 +76 -888 +912
5 972 1000 -28 +122 -336 +1464
6 1021 1000 +21 +171 +252 +2052
7 1072 1000 +72 +222 +864 +2664
8-30 . . Savings increase every year


The Trivia Block
Who said, "Real Estate is the best investment in the world because it is the only thing they're not making anymore?"
Will Rogers, stage and film star, who began his career as a rope-throwing cowboy.

Buying vs. Renting

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