Issue link: https://www.epageflip.net/i/64367
4B Daily News – Thursday, May 3, 2012 Student loans 101: The makers on both sides of the aisle agree: It would be a mistake to let interest rates on student loans dou- ble in July. Especially if they're going to be blamed for it in an election year. interest rate uproar NEW YORK (AP) — Law- Student loans have become a political football in recent weeks, with Democrats and Republicans maneuvering to point fingers in case Congress fails to pass legisla- tion to prevent rates from rising this summer. The rhetoric has cre- ated confusion — and perhaps unnecessary alarm — about what's really at stake. The issue centers on a type of federal loan that's reserved for undergraduate students. The inter- est rate on these Stafford loans is set to jump from 3.4 percent to 6.8 percent on July 1. The problem is that Congress can't agree on exactly how to fund a one-year extension of the current rate, which the government estimates would cost $6 billion. The debate is touching a nerve because it underscores the broader problem of college affordability and ever-increasing levels of stu- dent debt. The average in-state tuition and fees at four-year public colleges rose about 8 percent from year ago, according to The Col- lege Board. That pushed the cost to an all-time high of more than $8,000. ''To look at the bigger picture, higher education is practically a necessity and it's getting harder and harder to afford,'' said Rich Williams, an advocate with US PIRG, which lobbies on student loan issues. To make his case to young The current debate centers only on subsidized Stafford loans; the Education Department estimates that about 30 percent of under- graduates have this type of loan. The other aspect of subsidized loans is that they currently come with a fixed rate of 3.4 percent. This is the rate that's set to double this summer; unsubsidized Stafford loans already carry a fixed interest rate of 6.8 percent. If the rate on subsidized loans is increased, the higher rate would not apply retroactively to existing loans. This is because rates on all federal student loans are fixed over the life of the loan. (Separate- ly, it's worth noting that the private student loans issued by banks typ- ically have higher variable rates that rise and fall with a benchmark rate). est accrues right away so the loan balance grows while the student is in school. Only students who take out subsidized federal loans on July 1 or thereafter would be subject to the new rate. This means the rate on the subsidized loans a college sophomore took out to fund their first two years in school wouldn't be affected. Legal Notices Legal Notices Legal Notices Legal Notices Legal Notices Legal Notices LEGAL NOTICE All told, the White House says that 7.4 million borrowers would be affected if the rate spikes in July. voters, President Barack Obama even made an appearance on NBC's ''Late Night with Jimmy Fallon.'' The president looked into the camera and said ''now is not the time to make school more expensive for young people'' as Fallon and his house band pro- vided a slow-jam accompani- ment. But amid all the rhetoric, it's easy to forget that not everyone who has a student loan would be affected. For those who would be, the impact might not be as dire as feared. Here's what you need to know: WHO'S AFFECTED To grasp what's at stake, it's important to first understand that Stafford loans are either subsi- dized or unsubsidized. Subsidized loans alleviate the cost of borrowing for low-income students because the government pays the interest on the loan while the student is in school. Eligibility is determined based on financial need; about 70 percent who quali- fy for subsidized loans have a family income of less than $50,000. With unsubsidized loans, inter- WHAT IT COSTS ''The drama of a doubling interest rate catches your attention. It's a good way of beating the drum of college affordability,'' said Mark Kantrowitz, publisher of FinAid.org, which tracks the financial aid industry. The exact impact of the higher rate will depend on the size of the loan and the repayment period. But in general, the White House says keeping the rate at 3.4 percent for another year would save bor- rowers $1,000 over the life of the loan. That's assuming a 12-year repayment on a $4,200 loan. On a monthly basis, a typical payment would go up by about $8, according to FinAid.org. As inconsequential as that might sound, Williams of US PIRG notes that the increase would come at a time when col- lege costs are continuing to march steadily upward. ''It comes down to a death by a thousand cuts,'' Williams said. HOW IT CAME ABOUT Another aspect of the issue that gets lost in the uproar is that the 3.4 percent rate has only been in place for a year. It's the result of legislation passed in 2007 on the eve of the financial crisis and was intended to help alleviate the cost of col- lege. Rather than cut the rate in half right away, the legislation gradually lowered the rate to its current level over the past four years. NOTICE OF TRUSTEE'S SALE TS No. 10-0123184 Doc ID #000943778872005N Title Order No. 100577585 Investor/Insurer No. 1698886528 APN No. 009-480- 081 YOU ARE IN DEFAULT UNDER A DEED OF TRUST, DATED 06/14/2005. UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PROCEEDING AGAINST YOU, YOU SHOULD CONTACT A LAWYER. Notice is hereby given that RECONTRUST COMPANY, N.A., as duly appointed trustee pursuant to the Deed of Trust executed by SEAN MAYKEL AND KIMBERLEE MAYKEL, HUSBAND AND WIFE AS JOINT TENANTS, dated 06/14/2005 and recorded 6/24/2005, as Instrument No. 014174, in Book 2735, Page 002, of Official Records in the office of the County Recorder of Tehama County, State of California, will sell on 05/21/2012 at 2:00PM, At the main entrance to the Tehama County Courthouse, 633 Washington Street, Red Bluff, CA 96080 at public auction, to the highest bidder for cash or check as described below, payable in full at time of sale, all right, title, and interest conveyed to and now held by it under said Deed of Trust, in the property situated in said County and State and as more fully described in the above referenced Deed of Trust. The street address and other common designation, if any, of the real property described above is purported to be: 22285 OLY WAY, RED BLUFF, CA, 96080. The undersigned Trustee dis- claims any liability for any in- correctness of the street ad- dress and other common desig- nation, if any, shown herein. The total amount of the unpaid bal- ance with interest thereon of the obligation secured by the property to be sold plus reason- able estimated costs, expenses and advances at the time of the initial publication of the Notice of Sale is $307,303.27. It is possi- ble that at the time of sale the opening bid may be less than the total indebtedness due. In addition to cash, the Trustee will accept cashier's checks drawn on a state or national bank, a check drawn by a state or feder- al credit union, or a check drawn by a state or federal savings and loan association, savings asso- ciation, or savings bank speci- fied in Section 5102 of the Finan- cial Code and authorized to do business in this state. Said sale will be made, in an ''AS IS'' con- dition, but without covenant or warranty, express or implied, re- garding title, possession or en- cumbrances, to satisfy the in- debtedness secured by said Deed of Trust, advances thereunder, with interest as pro- vided, and the unpaid principal of the Note secured by said Deed of Trust with interest thereon as provided in said Note, plus fees, charges and ex- penses of the Trustee and of the trusts created by said Deed of Trust. If required by the provi- sions of section 2923.5 of the California Civil Code, the decla- ration from the mortgagee, ben- eficiary or authorized agent is attached to the Notice of Trust- ee's Sale duly recorded with the appropriate County Recorder's Office. NOTICE TO POTENTIAL BIDDERS If you are considering bidding on this property lien, you should understand that there are risks involved in bid- ding at a trustee auction. You will be bidding on a lien, not on a property itself. Placing the highest bid at a trustee auction does not automatically entitle you to free and clear ownership of the property. You should also be aware that the lien being auctioned off may be a junior lien. If you are the highest bid- der at the auction, you are or may be responsible for paying off all liens senior to the lien be- ing auctioned off, before you can receive clear title to the property. You are encouraged to investigate the existence, priori- ty, and size of outstanding liens hi hi that may exist on this property by contacting the county re- corder's office or a title insur- ance company, either of which may charge you a fee for this in- formation. If you consult either of these resources, you should be aware that the lender may hold more than one mortgage or deed of trust on the property. NOTICE TO PROPERTY OWNER The sale date shown on this no- tice of sale may be postponed one or more times by the mortgagee, beneficiary, trustee, or a court, pursuant to Section 2924g of the California Civil Code. The law requires that in- formation about trustee sale postponements be made availa- ble to you and to the public, as a courtesy to those not present at the sale. If you wish to learn whether your sale date has been postponed, and, if applicable, the rescheduled time and date for the sale of this property, you may call 1-800-281-8219 or visit this Internet Web site www.recontrustco.com, using the file number assigned to this case TS No. 10-0123184. Informa- tion about postponements that are very short in duration or that occur close in time to the scheduled sale may not immedi- ately be reflected in the tele- phone information or on the In- ternet Web site. The best way to verify postponement informa- tion is to attend the scheduled sale. RECONTRUST COMPANY, N.A. 1800 Tapo Canyon Rd., CA6- 914-01-94 SIMI VALLEY, CA 93063 Phone: (800) 281 8219, Sale Infor- mation (626) 927-4399 By: - Trustee's y, g RECONTRUST COMPANY, N.A. is a debt collector attempting to collect a debt. Any information obtained will be used for that purpose. Sale Officer 04/26/2012, 05/10/2012 A-FN4233167 05/03/2012, LEGAL NOTICE NOTICE OF TRUSTEE'S SALE T.S No. 1346982-10 APN: 007-550-071 TRA: 063000 LOAN NO: Xxxxxx7898 REF: Banister, Cyn- thia IMPORTANT NOTICE TO PROPERTY OWNER: YOU ARE IN DEFAULT UNDER A DEED OF TRUST, DATED May 24, 2006. UN- LESS YOU TAKE ACTION TO PRO- TECT YOUR PROPERTY, IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PROCEED- ING AGAINST YOU, YOU SHOULD CONTACT A LAWYER. On May 16, 2012, at 2:00pm, Cal-Western Reconveyance Corporation, as duly appointed trustee under and pursuant to Deed of Trust recorded June 02, 2006, as Inst. No. 2006-011428 in book XX, page XX of Official Records in the of- fice of the County Recorder of Tehama County, State of Califor- nia, executed by Cynthia Ellen Banister A Married Woman As Her Sole and Separate Property, will sell at public auction to highest bidder for cash, cash- ier's check drawn on a state or national bank, a check drawn by a state or federal credit union, or a check drawn by a state or federal savings and loan associ- ation, savings association, or savings bank At the main en- trance to the tehama county courthouse 633 Washington Street Red Bluff, California, all right, title and interest conveyed to and now held by it under said Deed of Trust in the property sit- uated in said County and State described as: Completely de- scribed in said deed of trust The street address and other com- mon designation, if any, of the real property described above is purported to be: 18540 Rocky Way Cottonwood CA 96022 The undersigned Trustee disclaims any liability for any incorrect- ness of the street address and other common designation, if any, shown herein. Said sale will be held, but without covenant or warranty, express or implied, re- garding title, possession, condi- tion or encumbrances, including fees, charges and expenses of the Trustee and of the trusts created by said Deed of Trust, to pay the remaining principal sums of the note(s) secured by said Deed of Trust. The total fh id bl f $99 Clock Repair 20910 Pebblestone Dr. Red Bluff Jim Paul Electrical clocks Call for appt. Mechanical, Battery and Member NAWCC Lawn Care 530-736-7079 Grandpa's Clocks Your Clock Repair Shop Commercial & Residential Full Service Lawn Maintenance • Mowing • Spring Clean-ups • Weedeating • Lawn Aerations • Edging FREE CONSULTATION Serving Greater Tehama County since 1994 Print Runs Every Tuesday - Thursday- Saturday On-Line Print and www.redbluffdailynews.com in the On-Line runs 7 days a week, 24 hours a day at Tehama Country Real Estate section No early cancellation, non-refundable Construction o n • Plumbing • Drywall Repairs • Fences • Decks • Concrete • Garages House Remodel / Specialist Rental Turnovers / Repairs Bathroom Remodels / Tile Painting • Electrical Quality at a reasonable price FREE ESTIMATES 530 949-6162 Plumbing/Handyman CA LIC#914460 Jim the Plumber and Handyman Services 25 years experience Free Estimates Free Travel Time See Angie's List No Job to small Quality work ...cheaper! Local References (530)366-6033 24 hour service Lic#11003 Dump Service Small Tractor & Dump Service • All phases of construction • Gravel delivery (2-4 yards) R & R Northern California Contractor Phone (530) 529-1041 (530) 227-9498 Lic.# 478739 CA# 282782 CB# 55J55 Roofing • COMPLETE INSTALLATION & REPAIRS A Roof above the rest! Call For A FREE Estimate 824-2349 ROLLIE WALDOW Ca. Lic. #C39-770420 Landscaping CANNADAY'S LAWN CARE HONEST & RELIABLE DAVID CANNADY OWNER LAWN MAINTENANCE HEDGING & WEED EATING TREE TRIMMING & REMOVAL LANDSCAPING (530) 736-6652 Blinds Need Blinds? C A L L P A U L Blinds & Draperies www.nsbd.biz Lic.#906022 527-0842 North State Paul Stubbs Landscaping Torres Landscaping Mowing, Pruning, Weeding, Yearly Yard Maintenance Blowing, Cleaning, Trimming Monthly or One time available All around LAWN Maintenance Free Estimates Cell: 530-526-3752 Home: 520-529-5474 Ramon Torres Lic.# 10034 Sprinkler Systems Commercial & Residential Free Estimates 526-2527 •Sprinkler System Installation & Repair •Year Round Lawn Service •Landscaping Design •Pruning •Post Hole Digging State Contractors Lic.# 845881 528-1456 BAKER ROAD STORAGE Come by for Details Storage amount of the unpaid balance of the obligation secured by the property to be sold and reason- able estimated costs, expenses and advances at the time of the initial publication of the Notice of Sale is: $300,367.25. If the Trustee is unable to convey title for any reason, the successful bidder's sole and exclusive rem- edy shall be the return of mon- ies paid to the Trustee, and the successful bidder shall have no further recourse. The beneficia- ry under said Deed of Trust heretofore executed and deliv- ered to the undersigned a writ- ten declaration of Default and Demand for Sale, and a written Notice of Default and Election to Sell. The undersigned caused said Notice of Default and Elec- tion to Sell to be recorded in the county where the real property is located. NOTICE TO POTEN- TIAL BIDDERS: If you are consid- ering bidding on this property lien, you should understand that there are risks involved in bid- ding at a trustee auction. You will be bidding on a lien, not on the property itself. Placing the highest bid at a trustee auction does not automatically entitle you to free and clear ownership of the property. You should also be aware that the lien being auctioned off may be a junior lien. If you are the highest bid- der at the auction, you are or may be responsible for paying off all liens senior to the lien be- ing auctioned off, before you can receive clear title to the property. You are encouraged to investigate the existence, priori- ty, and size of outstanding liens that may exist on this property by contacting the county re- corder's office or a title insur- ance company, either of which may charge you a fee for this in- formation. If you consult either of these resources, you should be aware that the same lender may hold more than one mort- gage or deed of trust on the property. NOTICE TO PROPERTY OWNER: The sale date shown on this notice of sale may be post- poned one or more times by the mortgagee, beneficiary, trustee, or a court, pursuant to section 2924g of the California Civil Code. The law requires that in- formation about trustee sale postponements be made availa- ble to you and to the public, as a courtesy to those not present at the sale. If you wish to learn whether your sale date has been postponed, and, if applicable, the rescheduled time and date for the sale of this property, you may call (619)590-1221 or visit the www.rppsales.com, using the file number assigned to this case 1346982-10. Information about postponements that are very short in duration or that oc- cur close in time to the sched- uled sale may not immediately be reflected in the telephone in- formation or on the Internet Web Site. The best way to verify postponement information is to attend the scheduled sale. For sales information:(619)590-1221. Cal-Western Reconveyance Cor- poration, 525 East Main Street, P.O. Box 22004, El Cajon, CA 92022-9004 Dated: April 26, 2012. (R-408184 04/26/12, 05/03/12, 05/10/12) internet website Residential • Commerical PATIOS • DECKS Construction Remodel, Construction Burrows FREE ESTIMATES & REFRENCES Lic#824770 Water and Dryrot Damage Specialist, New Construction Foundation to Finish New Additions, Siding Repair and Replacement, Ph: (530) 515-9779 Landscape/Fence & Landscape Service Steve's Tractor • Fence Building • Landscaping • Trenching • Rototilling • Disking • Mowing • Ridging • Post Hole Digging • Blade Work • Sprinkler Installation • Concrete Work Cont. Lic. #703511 Steve Dyke 385-1783 Tractor Service Tractor Dan "Have Tractor-Will Travel" Mow (Rotary or Flail) Till - Disk - Rip - Harrow Load - Light Hauling Gannon Box - Float Dan Marshall Owner/ Operator Insured Tehama County Resident since 1958 (530) 527-1437 n A o l l i t e c n u s t s C r