Familiar!| | Faces _ Serving Eastern North Carolina Since 1981 The man who views the world at fifty the same as he did at twenty has wasted thirty years of his life.’ -- Muhammad atory mort age le Easley announced legislation de- signed to restrict predatory mort- gage brokering and lending ractices in North Carolina. Predatory loans are high rate, high fee loans typically targeted to borrowers who own their homes, but may have cash flow problems. Predator lenders focus particu- larly on elderly, minority and low-income homeowners. ii "The effect of these loans is to Sister Kimberly Whitehead talks about law enforcement's bias against the mentally ill Brother Wren Locke gives some pointers on how to find that perfect mate increase the borrower's indebted- ness, strip equity from their home, and to burden the borrower with oppressive repayment terms, This Way to Black | "Easley said. "People unknowingly incur huge fees and may ultimately lose their homes." The Senate bill (SB 1149) is nsored by Sen. Roy Cooper and e companion House bill (HB Empowerment: Dr. Lenora Fulani discusses women and the run for the Presidency Rosa Parks gets the gold! 1285) is cosponsored by Rep. Jerry . Braswell and Rep. Phil Baddour. The legislation targets common Race profiles & police brutality apes Phen geste loans, such as charging excessive fees for originating or brokering the loan; adding balloon payment pro- visions so the borrower pays off ‘| Johnson: What causes racism? Faith & Inspirations almost no principal after many years of payment; "packing" the loan with thousands of dollars of Stephen Johnson gets into the {jf} unnecessary credit insurance; and mind of a Skinhead | repeatedly refinancing or "flipping" I} loans to keep the borrower continu- ally in debt. Some actual recent examples of predatory mortgage loan practices include: The Perspectives of Stephen Littleton, Colorado: Get the whole story on what happened, from the people that were there Other School Shootings: RALEIGH--Attorney General Mike April 23 - April 30, 1999 Zz ders as Attorney General Mike Easley is attacking home mortgage companies that hide fees and surcharges into loan packages. Althou good deal for the broker, say Easley, "it may not be a g (photo by the Office of the NC Attorney General.) it may be a deal for you." 1) A borrower in Fayetteville obtained a $48,000 home loan which included a $4352 origination fee, $1089 .in points, a $200 ing fee; a $175 underwrit- ing fee and a $175 “document rep" fee. The APR on the loan was 10%. The loan also included a balloon payment of $43,000 which would be due after 15 years of payments. The borrower did not understand there was a balloon payment until months after the closing. To complete the financing, the lender also convinced this borrower to take out a $13,000 second mortgage loan repayable over 15 years at 14%. 2) An elderly woman on a limited income nded to a TV ad about consolidating bills and lowering monthly payments. Her new loan increased her monthly mortgage payment from $399 to $462. On the $33,800 loan, she paid over 8% in points and originating fees plus a $500 under- writing fee, a $400 application fee and a $350 loan processing fee. "The APR was 16.46%. Although the borrower was not aware of it, the loan had a balloon t of $35,000 at the end of the 15 year term. Her sister was required to cosign the loan at the last minute. 3) A couple in Montgomery County borrowed $19,254 to refi- nance an existin mortgage loan and to pay other debts. They paid a loan origination fee of $2,790 and an additional “loan fee" of $370. The lender also sold and financed a credit life insurance premium in the amount of $4,124. With the closing costs and credit insurance factored in, the borrowers incurred an obligation of $28,000 for what siarted out as a $19,000 loan. Predatory lenders often use high pressure tactics to snag their vic- tims. Easley warns homeowners to be wary of anyone who calls them _ on the phone or comes to your door offering home equity “bargains.” "Don't let yourself be pressured into making a quick decision when it comes to your home," Easley said. "Beware of claims that ar offer is good only for a very short period. Be suspicious of anyone you didn't contact first. If a solicitor calls on the phone or comes to your door offering to refinance your home, you can be assured it's a good deal for him. It may not be a good deal for you.” The legislation attacks predatory lending by creating a special category in the state's lending laws for "high cost home loans," making North Carolina the first state to seriously address this problem. If the loan has fees or a rate that significantly exceed prevailing market rates, then special restric- tions and protections apply. These new provisions are intended to make borrowers more aware of the consequences of high cost home loans and to create barriers to prevent predatory practices. A list of other schools in recent years that have suffered from well-publicized acts of violence Ascending Star: Finding out WTOW 1320-AM returns about an up and coming leader! | From the Desk of Mrs. Beatrice Maye: Mrs. Maye gives Nine Requisites for Contented Living Spiritual Thoughts: Pastor George Hawkins discusses speaking in tongues Black America to the airwaves ad Carter G. Woodson: The man | who founded Black History Month is known for many other James Back on the air! The new team at WTOW Joy 1320 are (left to right) Page, Margie Robinson, Site Manager Brenda Rouse, and General Manager Buddy Jones. The voice of the community is back! By Dan Sewell ATLANTA (AP) -- Four past and - current Black employees of Coca- Cola Co. are suing the soft-drink giant for discrimination, claiming Blacks are paid less and have fewer rtunities to advance than te employees. "Not only do barriers exist for African-American employees seek- ing upward advancement within the company, but similar barriers virtually segregate the company into divisions where African- American leadership is acceptable and divisions where it is not," the plaintiffs said in the lawsuit. The suit was filed April 22 in U.S. District Court in Atlanta by Washington attorneys Cyrus Mehri and Pamela Coukos. Mehri, a veteran of corporate discrimination cases, represented Black employees who sued Texaco in a case that achievements. Find out what they are! by Trey Bankhead Washington, NC-- After a lengthy absence, WTOW 1320-AM, also known as "Joy 1320," has returned to the air, restoring Washington's premier gospel and talk radio station. "This is something we've been working towards since the station went off the air," said station owner Jim Rouse. Rouse, the President and CEO of the Jim Rouse Communications Group, says he is happy the station is back. "It's under new management," h Who's in front of the MVoice camera this week? Take a look and see! Don't miss our newest collage! You never know who you might see! e said. "I have total confidence in the new management and staff. Local Attra ction Ss | That station is going to do great would seem he's correct: Community Calendar: After | |} WTOW has already announced that many false starts, it's finally it is joining its sister station -- Greenville's WOOW 1340AM -- in sponsoring the First Spring Gospel Celebration in Greenville on May 18. It will also be joining WOOW and The Minority Voice newspaper, which are also part of The Rouse Communications Group, in pro- moting a Minority Business Expo and Job Fair on May 15. While the station has reaffirmed its committment to the community, it also is in need of the support of the community. "We're going to be more active in the Washington community," said Rouse. "That's going to be apparent in the way the station is run “ "People will notice some changes in the station, but | think they'll like them," says Rouse. “It's a chance for a fresh start, and we're not going to waste it." resulted in a landmark $176 mil- lion settlement in 1996. "This is probably the next major ceiling case," Mehri said April 23. "We expect this to be an ic struggle going on over a period of years. Coke spokesman Rob Baskin CHICAGO (AP) -- Once you got past the 14-member security team and the barricades barring students from certain hallways, Marshall Metro looked like any other high here! Culinary Delights: Marie Andrews explores the food and iste i oe oma school. To the left, the trophy case, to the right, Michael Jordan, the new principal. "T was told that I would be atmosphere of Rountree's | | k | things." General Colin Powell in an dents, (Photo rity Peres ts. grap: ‘arade magazine) by Trey Bankhead General Colin Powell is well known as the first Black Chief of the Armed Forces. He is not, however, as well known in his role as chair of America's Promise, a group dedicated to helping chil- n. "We worry a lot about kids today, about them learning self-respect and moral values," he says. Powell asserts that young people secsdela to getting a visitor, but I thought it would be someone like Al Gore or Clinton," said consumer education and American history teacher Carol Rolowicz. "But Michael Jordan?” This is the biggest thing that's ever happened to this school!" In an effort to get businessmen and companies to support the educational Process, the Chicago recede reveal hoary up with "Principal for a program to benefit the children and the educational system. The 1,150 students were awe- struck during an early assembly when they discovered that the man meses in front of them was ol' No, 3. Requests for handshakes were abundant; confessions of love were said he couldn't comment on specific details of the lawsuit before seeing. it, but he said the company doesn't believe the case has merit. "Coca-Cola doesn't tolerate dis- crimination, and if any discrimina- tion is found, we take action to stop it and prevent it from occurring,” Baskin said. The suit seeks to include about 1,500 past and current salaried Black employees at Coke. Three of the plaintiffs still work at Coke. The complaint says that one of them, senior information analyst Linda Ingram, is on long- term disability because of depres- sion blamed on her treatment at the compary Another plaintiff, Kimberly Gray Orton, is a former supervisor who worked 13 years at Coke. The complaint says she was underpaid for years, at times supervising White employees who made as much as $7,000 more than she did. The complaint has scattered anecdotal examples of racial insen- sitivity, from alleged workplace insults to Coke marketers relying on racial stereotypes such as Blacks living in ghetto areas. "We are just at the beginning of 'uture Miss America: this case,” said Mehri, who said the complaint is buttressed by statisti- cal evidence. It says the average Black Coke employee at corporatt headquarters earned $45,215 in 1998, compared with $72,045 for the average White employee. Baskin said an estimated 27 percent of Coke's U.S. workers are minorities, including 15 percent of U.S. managers. The complaint says few of the Black managers reach the. highest salary levels and tend to be confined to divisions like human resources and corporate affairs, which lack the advancement poten- tial of White-dominated divisions such as global marketing or fi- nance. It also says Blacks tend to receive worse performance apprais- als and are terminated at higher rates than Whites. : Coke has "failed to place the same importance on its African- American employees" as it has on marketing to Black consumers, who make about 25 percent of the purchases of Coke brands, the suit says. Don't forget about the Minority 00 Fair on May 15th: ) Jessica Chaplin, School, a 12-year old sixth has been chosen as a State Finalist in the North Carolina American Pre-Teen Pageant, which will be held in Greensboro on July 10 and 11, 1999, Congratulations to all finalists! (photo by Olan Mills) at E.B. Aycock Middl