FOR about 150,000 homeowners with a second mortgage held by Bank of America, it seemed too good to be true. In the last couple of months, a lot of my clients received letters in the mail saying that their second mortgage is being automatically forgiven and wiped out. And they don’t even have to do…
EMPLOYEES who are “on the clock” know that the employer must pay for work performed during this time. However, there are situations where it is not quite clear whether a work-related activity performed by an employee outside the regular 8-hour framework would still be compensable. The most important rule to remember is this: Time spent…
ACCORDING to a report from Bloomberg Businessweek, a Gallup poll revealed that the Philippines is the “most emotional” nation in the world. The survey was conducted in 152 countries, with the Philippines ranking 151st among the least emotional nations — conversely making us the”most emotional” country among the lot. Social media was replete with mixed feedback…
IF CONGRESS does not extend the Mortgage Forgiveness Debt Relief Act of 2007 by the end of the year, homeowners will have to start paying income taxes on the portion of their mortgage that is forgiven in a foreclosure, short sale or principal reduction. So if you owe $350,000 on your home and it sells…
ONE of the rituals many Fil-Am families enjoy doing during the Thanksgiving holiday weekend is putting up a Christmas tree and decorations, for that early Christmas feeling. Our friends and family, business establishments, public parks and places back home in the Philippines do that even earlier – some even as early as September (the start…
HOW long should you retain records? I have some clients who throw away everything instantly. Can’t stand records. I also have clients who keep records forever. Rat packs. There must be some balance in between. Unfortunately, there is limited guidance from the IRS. Fortunately, there are relevant statutes of limitation – the period when you…
The move of the Senate to pass the Sin Tax Bill is a vital step forward in improving and expanding public health safety nets for all Filipinos, a Palace official said on Wednesday. Presidential Spokesperson Edwin Lacierda issued the statement during the regular press briefing in Malacanang on Wednesday after the Senate passed the Sin…
Through the annual “Give A Hand” in-restaurant fundraiser can help raise funds to benefit Ronald McDonald House Charities® Oak Brook, Ill. (November, 10, 2012) – Today, McDonald’s® are celebrating McHappy Day®, the official kick-off of the 10th Annual “Give A Hand” fundraiser to benefit Ronald McDonald House Charities (RMHC)® – the company’s “Charity of Choice”…
Get a head start on Thanksgiving Day festivities by treating your family and guests to Goldilocks’ special Thanksgiving Day Breakfast Buffet on Thursday, November 22, 2012 from 8-11am. The sumptuous All-You-Can-Eat Breakfast Buffet on Thanksgiving Day features favorite Filipino breakfast items such as Tapa, Tocino, Chicken Adobo, Meat or Fish Longganisa, Daing na Bangus, Dilis,…
It’s just hard to imagine that this place was once submerged in water. Rocks that were once in the abyss of the ocean seemed to have risen as the waters disappeared; a mountain is born. This lovely place located in Mountain Province-Sagada-now exhales, after a billion years, cool and crisp air to visitors who come…
For cigarette smokers and those who may be tempted to start, here’s a bit of truly disturbing new information from the American Chemical Society. New research revealed that tobacco smoke causes genetic damage within minutes of inhalation of cigarette smoke, not years. The adverse effects are almost instantaneous as the smoke gets into the lungs….
The month of October greets us with tons of excitement and brings us weeks loaded with grandiosely conceptualized events and pompously celebrated occasions that literally filled up our calendar, aside of course, from enjoying the globally celebrated Oktoberfest which originated in Germany. Oktoberfest was established in 1810 with the marriage of King Ludwig I of…
“The juveniles are fun to watch. The young males enjoy sparring, often in the shallow rocky areas off shore. That play, characteristic of male mammals of many species, humans included, is pretty clearly fun and, certainly in the case of elephant seals, it serves to prepare them for the dominance battles as adults. Seals in…
SOME people are content being average. There are also those who want to make a difference in the world they live in; who want to make their lives count — they are people who are committed to serve others through their talents and abilities. Such is Paolo Benigno “Bam” Aquino, who has made it his…
LET’S assume that you lost your job and are no longer able to make the mortgage payments on your house, so you quitclaim the house to your son who takes over the mortgage payments. Your house has equity of $70,000. Next week, you decide to file for Chapter 7 relief because you owe $50,000 of…
CORA Oriel, the publisher of Asian Journal, shared with me an amazing story from New York Times regarding a devastation of recent Hurricane Sandy. This happened in Breezy Point in the New York City borough of Queens. One hundred homes in this wealthy neighborhood that sits near the Atlantic Ocean burned to the ground. One of them is…
“HOW can I pay my creditors when my income is not even enough to cover my basic living expenses?’. This is a question that I hear everyday from people in my bankruptcy practice. We are living in tough times. Some people resort to more borrowing to make up the shortage in income. So they are…
Hurricane Sandy’s massive destruction last October 29 left a disheartening aftermath of numerous residential houses mercilessly splintered like matchsticks in unimaginable proportions. To date, there are still growing numbers of displaced families. Since then, countless disaster relief operations have been launched and millions of funds were released to benefit the mounting number of flood victims…
Hurricane Sandy’s massive destruction last October 29 left a disheartening aftermath of numerous residential houses mercilessly splintered like matchsticks in unimaginable proportions. To date, there are still growing numbers of displaced families. Since then, countless disaster relief operations have been launched and millions of funds were released to benefit the mounting number of flood victims…
I was driving to work one early morning in Munster, Indiana when I noticed a flock of Canada geese flying against a beautiful backdrop of a golden orange rising sun that was slowly and eagerly peering over the clear horizon. The picturesque scene was even more poignant as I observed that the geese were flying…
Recently, the USCIS published statistics on DACA filings. I was quite surprised at the results, especially as it concerned Filipinos. It showed that as of November 15, 2012, 308,935 people applied, and 53,273 applications have already been approved. However, out of the 308,935 people who applied, only 2,613 were Filipinos! Don’t tell me that there…
A renewed pact is brewing between the Philippines and the United States. By next month, the two countries will sign the visiting forces agreement that will permit for another bilateral military exercises, to take place in the Philippines. Done yearly, the exercises are expected to further strengthen the diplomatic ties and defense system of both…
MANY Americans (including Fil-Ams) heavily invested in the recently concluded US Presidential elections. Some contributed cash for their candidates, others volunteered to help in their campaigns, and many were passionately engaged in the presidential debates, to persuade others to vote for the candidate which they thought was the better choice to lead this country. On…
After four elections in the United States, I can now say that I am proud to be a Filipino-American. From the sidelines as an observer, I immersed myself with the elections starting with the elections of 2000 with then vice president Al Gore against Texas Governor George W. Bush. In the 2000 elections, we led…
The wait time for immigrant petitions to become “current” under most family based preference categories often takes a long time. During this long waiting period, it is common for derivative beneficiaries to end up aging out and unable to obtain their green cards along with the principal beneficiary (the parents). Aging out occurs when the…
ALLIANCES are supposed to create new and stronger organizations. But history may show that sometimes, integrations may look good on paper but fall short of what is expected. From Nov. 15 until 20, the Association of Southeast Asian Nations (ASEAN) gathered the region’s heads of states and dignitaries for the 21st Asean Summit and Related…
IT is a clear day in Angono. The streets are filled with bystanders—residents and non-residents alike—who are eagerly waiting for the presence of something big. Looking above, the view of the sky is adorned by an assemblage of colorful banderitas. The sun slips in a little of its light upon these strips of color and…
Q: I WORK as a “caregiver” for a disabled senior at a private residence. In addition to caring for the senior, I also cook, clean the house, and do the laundry. I work 5 to 6 days a week, at least 12 hours per day and as much as 14 hours per day. My employer…
IN January of this year, we first wrote about this exciting topic, which was based on the January 6, 2012 announcement by US Citizenship and Immigration Services (USCIS). In the announcement, USCIS indicated its intent to amend the regulations pertaining to waivers for certain immediate relatives of United States citizens who are applying for visas…
MANY homeowners are still left with a mortgage balance that worth more than the value of the property. With the economy still being badly affected by the possibility of a fiscal cliff and the European crisis. A lot of homeowners are still uncertain with their homes or properties underwater. Fannie Mae and Freddie Mac’s new…
