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It's not generally known but there's a way to cut mor-' tgage interest payments in half, or as much as you like, just by following a simple procedure that's neither il legal nor immoral. Despite the record high mortgage , rates of the last year, home buyers need not be burdened for 20 or 23 years with i 4-1 6 per cent interest payments oo their home loans. During the early years of a loan, the major portion of j each monthly payment goes toward interest, with very little applied to reducing the principal balance of the mortgage. You can pay off a mortgage twice as fast by .; doubling up on that' part of the monthly payment ap plied to the loan's principal. Fpr example, with a 30 year, $50,000 mortgage carrying an interest fate of 13 per cent, the monthly payment to principal and interest ; is 553.10, an amount that remains constant over the,-, life of the loan. In thfrirst monthly payment, $541 .67 is. interest. Only $1 1.43 is applied to the principal. It is not until the 24th year of the loan that the payment to prin cipal exceeds the interest payment. Over the life of the mortgagertheborrower will have paid $149,115.82 in - interest (that's right!). . .. If, however, along with that first monthly payment the borrower also paid the $11.56 due on the principal A Way To Cut Your Mortgage . Interest Charges In Half DjWiliijm It. Mortis txr..A-ir4,i:ii for the second month, heshe would accomplish two things: shorten ihc loan by a month and save $541.54 in intmtf If tn the next monthly navment of $553.10. the " v borrower adds the $11.81 due on the principal for the' ' M a . . 1. . ftl ! 1 iLl. -.JU.Jl touowing monm, u win euminaie mai manin s inmcsi payment of $541.29. Continuing that process for six : months, the borrower will have reduced the mortgage to the same balance had twelve regular monthly payments been made. And in the process, the interest payments due with every other payment that year would be saved. '. Applying this pre-payment method over the life of the loan, the borrower would pay off the loan in just fifteen years and save $74,424.25 in interest. You're not limited to paying one month's additional principal at a time. You can pay for any number of months and cut the in terest charges accordingly. This will not be difficult to do in the earlier years and even if you should decide to discontinue prepayments at some point and resume only I the regular payments you'll have saved thousands in in- terest charges: Lenders who made loans when rates were extremely high won't be too happy to have borrowers prepay their mortgages. - 7 ' If you should decide to proceed, you'll need an amor tization schedule for your particular loan. If your lender didn't give you one, they can be ordered from financial publishing companies for less than $5. They're free, Weight Control Affects Diabetes By Otto.McCIarrin If you're still searching for motivation to rid yourself of fat and flab, consider what "Off Diabetes Pills" has to say. Published by Public Citizen's Health Research Group, this book is more than an eye-opening expose of -unsafe medicines. It also tells why and how weight con trol prevents as well as treats the symptoms of diabetes 1 that develops in adults. Diabetes is no minor illness. It is believed that more than ten million Americans now have it (half of them" unaware that they do) "and that the 'number afflicted may double in the next fifteen years. What's more, diabetes kills about 300,000 people each year, making it the third leading cause of death in this country. " In many cases, what kills is not the ailment itse'lf.btft its complications which include kidney disease, heart at tack and stroke. The book focuses specifically on the overweight adults who comprise the vast majority of diabetics. (A small fmmber are children and normal weight adults; both groups require insulin injections). . Apparently the latest scientific knowledge holds that overeating triggers the disease in mature people having a hereditary tendency to it. They may or may not develop symptoms of dry mouth, excessive drinking and urinating, or occasional dizziness. ,..' What happens in their botiies'is a. breakdown in the mechanism by which insulin, a hormone secreted by the pancreas, helps sugar (glucose) reach the cells where it's needed for fuel. Too much sugar accumulates in the blood, a condition called hyperglycemia, and there is often too much insulin as well. As a result, the person overeats. Overeating, in turn, reduces the number of cell receptors where insulin takes effect, thus making the cells less capable of responding to the hormone. When the person starts to eat less, the insulin receptors return to normal and the hormone is then able to do its job. As the book explains, "The effect of obesity on; 1 IV By me way By Joe Black Poverty has been described as a psychological process that spells the death of hope and the decay of spirit. It is a pattern of hopelessness and helplessness. And this mental anguish was not alleviated when former Cauforpia Governor Ronald Reagan was elected to head this government "of the people, by the people, and for the people! However, there are many Black Americans who don't believe that statement. And they are spending a great deal of their time lamenting the fact that a Republican is President because he will be for big business and against the Black, the poor, . and the needy. If anyone had listened to Reagan's campaign speeches it would not be a surprise that the President is planning to reduce domestic programs such as welfare, food stamps, etc. That act in itself does not mean that President Reagan is a racist, or insensitive. Ufe must not forget that the welfare systemAvas created to provide tern- Krary aid for those who have fallen on rd times. But today, too many Americans are looking upon welfare as a way of life. ; They are allowing a welfare check to deprive them of their pride and dignity by destroy ing their desire to use their minds, bodies and work to support their families. It is my suggestion that we not judge President Reagan by his plan to cut a total of $3,587 billion dollars from food stamps, ADC, Medicaid and subsidized housing rentals. His budget cuts willetill enable him to spend nearly the same amount of money as President Carter in each of those programs. And there won't be a reduc tion at all for those who qualify as being genuinely in need. , I remind you that the mass of Black voters did not support President Franklin D. Roosevelt in 1932 because he did not support a civil rights platform. But during his first term in office he enacted the W.P.A., N.R.A., and other programs that were , designed to assist the needy. As a result, Black people helped him to win a 2nd, 3rd, and 4th term as President of this nation. v They say that lightning won't strike twice in the same place; but just maybe a ' change will take place in the White House once again. Jee'Bhck --jrr'' vice President v.V The Greyhound Corporation ' Coping The Psychological Dynamics Of Racism: Part II By Dr, Charles W. Faulkner This series of columns could have been titled, "Why they don't like you and why you don't like them either." Interviews with many white people indicated that they had almost as much of a problem as black people in answering the question, "Why do whites dislike blacks?"; Jim, who is a young, white government ad ministrator provided the following answer to the above "question: "Oh, I don't know exactly why I dislike blacks except that it sort of makes me feel good to be better' than they." - Jim, whose comments are typical, continues, "I have never really thought seriously about it. It isn't something that you can put into words, it is more of a feeling or an emotional thing rather than a consciously predetermined plot. It is more of a reflex; I do not con sider myself to be prejudiced. And, I couldn't give you a logical explanation for: my. behavior or, even support any kind of jwhlte - superiority. My behavior toward blacks is now kind of a habit; a pleasant habit. Frankly, I can't even remember having a different behavior toward blacks. It is not an opinion that I have toward blacks. It isjust a conditioned reaction. I never seriously think about it although I would miss it if the opportuni ty did not exist to release my stress. If blacks weren't around, I would probably abyse a lower class white. It's a matter of maintaining my sanity. "It is probably like the feeling that you get after you have an argument with your wife or have been pushed around by your boss. Pushing a black around restores my self-esteem. Everybody needs a psychological lift . after a depressing day. Even blacks need it. The big dif ference is that I can take my frustrations out on blacks because I can be better' than they. But they cannot take their frustrations out on me because (hey feel inferior to me, I really don't know how they get rid of their frustra tions.' 4 . It makes me feel good about myself again. You know what 1 mean? It is similar to the feeling that the bully gets when he beats up the weakest kid on the block. You can! realty describe the feeling, but I know that it , makes me feel good. Treating them like non-people is ' tike a narcotic. I get so used to doing it that 1 need it, I look for an opportunity to get the psychological high. If the. opporunity does not exist, normally, I sometimes . create it. Sometimes, I want to get together with my buddies and find a couple of blacks to abuse. I have never beaten one up and don't know if 1 could. If blacks ' didn't exist, I don't know what I would do. I mean, who else is there to abuse and restore your manhood? I'm us ed to abusing blacks and it will probably always be that ' "Sometirrfes it becomes a little game; a challenge, like ' checkers. Sometimes I doit't speak to them when they ' speak to me. Sometimes I act as if 1 see them and, then, bump into them, without excusing myself. Sometimes, I "' throw their money at them in a store. Sometimes, I act '. upon request, from the Federal Housing Administration and Veteran's Administration if they insured or guaranteed your loan. :i Once you make a prepayment, remember that if does - not' eliminate the need to make your regular payments each month! You cannot skip a month. And always ad vise jour lender of the breakdown of each monthly prepayment of loan 'principal. Some lenders will be hap py to accommodate you, some will be unfamiliar with the prepayment strategy, .and others will try to play ' dumb. Those who don't want to cooperate may try to charge a prepayment penalty. Such penalties are illegal in some states and FHA and VA loans can be paid of f at any time without a penalty. ' So, if the mortgage on your home b less than ten or 'twelve years old and you want to cut down on, the in terest you are paying, it may pay yon to take a second look at your amortization schedule. If you can afford to prepay the amount allocated to principal every now and ,Uienr couUL save you Jjuitt aium of hard-earned money and accelerate the build-up of equity in your home. Fpr each monthly prepayment you speed up the date for a debt-free home. Productivity Arid Worker Co-Determination By Norman Hill 'glucose metabolism is not due to the excess fat but to the ' overeating needed to maintain the obese state." Never theless, many physicians havebeen prescribing' pral medicines. These may increase the risk of heart and blood vessel disorders and worsen the diabetes by tgnor- -ing the basic problem of obesity. One such drug, phen formin (DBI, Meltrol), was banned by the Food and Drug Administration in 1977. v .; i;:?:,.. Four others tolazamide (Tolinase), chorprdpamide (Daibinese), acetohexamide (Dymelor) and tolbutamide (Orinase) ? are being taken by 1.75 million patients, most of whom only require dietary controls, according to "Of f Diabetes Pills", - ' . When physicians do rely on reducing diets as the treatment for diabetes, many sufferers go off insulin as well as oral medications. Since calorie counting is a must for almost everyone,' here's how to calculate your needs: ' ". . ' , First, determine how much you should weigh. A woman of medium build should allow 100 pounds for the first five feet of height and five pounds' for. each ad ditional inch. Subtract ten per cent of the total for ax small frame; add ten per cent for a "large frame. A man should allow 106 pounds for the first five feet and six pounds for each additional inche,' also subtracting ten . per cent of the total for a small frame and adding ten per cent for a large One. -7'. ' ' :' . ;;V:-;'"V H Second, figure out how much to eat to maintain thai ideal . Your so-called basal requirements (what you ... would need if you didn't move around at all) are ten ' calories fpr each pound of ideal ; weight (For a 130-pound woman,' the basal requirements are 1300 calories). A sedentary person than adds thirty per cent; a moderately active person adds fifty per cent and so meone who engages in strenuous work or sports adds 100 per cent. A 130-pound woman would need either 1690, 2535 of 3380 calories. Now, if.you want tp lose weight, subtract. 500 calories, a day (3500 calories a week) and you'll shed pne pound a; week. ,' Vr Diabetes Pills," write to Health Research 'Group,. Department 209, 2000 P Street, NW, Washington, D.C. 20036. ''.V A. Philip Randolph Institute The United Steelworkers and the U.S. steel industry have launched a program which seeks to establish a cooperative climate in the workplace by stressing worker input into the way a job is done, , If successful, this limited experiment in worker co-determination will not only help reverse our steel industry's decline in world-wide competition, but will have enormous im plications for the future of all American industry. In the past, American labor has traditionally sought to maintain clear distinctions between labor and management. And the plan being implemented by the Steelworkers will not eliminate such distinctions. It will, however, make effective use of rank-and-file know-how in utilizing plant facilities and resources in a more effec tive and productive manner. In returri, workers will gain some say in production-related matters at the workplace. The Steelworker participation program, which was written into the union's 1980 contract, ultimately is directed at enhancing the quality and dignity of work for union members. The program's provisions call for teams consisting of ten to fifteen workers and super visors to work jointly in dealing with such problems as health and safety, quality control, production lags and bottlenecks, rational and efficient use of equipment, and absenteeism. The program aims at fostering a climate in which workers who after all know most about how to work comfortably and efficiently can suggest new approaches designed to improve both in dustrial output and the environment in which they toil. In Western Europe, where labor unions maintain distinct lines of division between themselves and management, such experiments in participation and co determination work well. It is most developed in West Germany, where worker and union representatives sit on tne boards of directors of a large number of com panies. In .this manner, workers and their unions have input into management decisions concerning such ques tions as investment, plant relocation, and workplace regulations. In the U.S., the labor-management participation ex periment is being tried in the auto, electronics, com munications, and electrical equipment industries, as well as in steel. If it ean succeed in boosting productivity in the way it has in other countries (Japan and West Germany, among them), it will provide a progressive and humane alternative to the conservative approach to productivity. The Reagan administration and conservatives argue that it is government regulation and taxation which is responsible for the slowdown in productivity increases. They seek to gut many regulations which protect workers health and safety and to provide huge tax breaks for corporations and the wealthy as a way of in creasingjjroductivity. Yet if one looks to other advanc ed industrial democracies which are outpacing us in pro ductivity increases, we see that these countries have even greater government intervention in the economy and very often have higher rates of taxation. In addition, these countries have well-developed programs of worker participation in workplace decision-making and co determination. The preponderance of evidence suggests that it is a combination of increased worker participation, job security, extensive social services, and national health insurance systems, which is the true source of worker productivity. The Steelworker initiative in worker par ticipation is, therefore, an important element in an ap proach to industry and government which is socially just i and which can reap enormous benefits. In short, it is the wave of America's future. as if I see them and, then, bump into them without excusing . ; . myself. Sometimes, I throw their money at them in a store. Sometimes, I act as if I don't want to touch them. It's the little things like this I enjoy doing. They get uptight but can't do anything about it. I must admit, I do feel sorry for them sometimes but my ., sorrow doesn't last long because I have too many other more important things to worry about. And, even when I feel sorry for abusing them, I feel better." . The above interview is.' one of many that I' have conducted in the recent weeks in to get an in-depth understanding of racial sentiments. My next col umn will be a continuance of the analysis of the Psychology of Racism. W're there for saying and checking WHEN and WHERE you need us! f0 2 9 ' 3 8 4 1) 1 OPEN AT 8:30 FOR EARLYBIRDS OPEN BETWEEN 1 :00 AND 3:00 FOR LUNCH BREAK BUSINESS OPEN AROUND THE CLOCK WITH NIGHT- DEPOSIT BOXES OPEN TO YOUR CAR WITH DRIVE-UP WINDOWS OPEN AT 8 CONVENIENT TRIANGLE LOCATIONS -Herfty Federal Savings&LOan Association MAIN OFFICE: 505 S. Duke St. Durham. N C. " M aw o V. ENERGY SAVING ALUMINUM a VINYL SIDING Alcoa-Rcynolds-U.S. Steel 3LV Of I 1 1 h 1 1 1 11 1 Of "ALL STORM WINDOWS & DOORS Stay Cooler' Ho;v end Warmer This Winter All above siding and storm windows . - qualify for an Energy Tax Deduction. (Double' Savings!) Financing Availabla WIMRIR ST0HL1 ViDOWS-GUTTERS or SHUTTEnS ff-HV?; wtt a Clfflisa Purchase. ' ' I I i:.
The Carolina Times (Durham, N.C.)
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July 4, 1981, edition 1
15
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