Loan Modifications - Part Deux'

Under fire for the low number of people receiving long-term mortgage help, the Treasury Department on Thursday announced new guidelines that will require applicants to provide all paperwork before getting a trial modification.

The new rules, which start June 1, will effectively shift the paperwork burden to the start of the process.

"They aim to make it easier and quicker to provide permanent modifications," said Treasury Assistant Secretary Herb Allison. "These changes also will enable servicers to process more efficiently and handle more volume effectively so we can help more people more rapidly."

Distressed borrowers will have to fill out a three-page request form that asks them to explain their hardship and list their income and expenses. They will also have to sign an IRS 4506-T form that allows servicers to pull their tax returns. Both forms are available on the Making Home Affordable program's Web site.

Also, applicants will have to verify their income. For those earning a salary, two recent pay stubs will be sufficient. Other earnings, such as income from self-employment, benefits, or rental properties, must still be documented.

Those who are approved for trial adjustments and make three timely payments will be automatically converted to long-term modifications.

Apple Debuts it's answer to the Kindle

Why would anyone buy a Kindle for $279 when they can have an iPad for $499?

"People will do the cost-benefit analysis in their own heads and say, 'If I can read books on one thing and read books, newspapers and CNNMoney.com on this other thing and get a full color experience and get apps,' it's not a very difficult decision," said David Wertheimer, executive director of the Entertainment Technology Center at the University of Southern California.

That cost-benefit analysis over the Kindle is what Steve Jobs is banking on.

"Amazon's done a great job of pioneering this functionality with the Kindle," Apple's CEO said at Wednesday's iPad event in California. "We're going to stand on their shoulders and go a little further."

So which might you choose?

Looks like the gloves come off after Obama rips Supreme Court ruling

The political furor escalated over President Obama's high-profile rebuke of a recent Supreme Court ruling on campaign advertising Thursday, as Democrats pounded the high court decision.

Democrats rallied around Obama the day after the president committed a rare breach of political etiquette, criticizing the controversial ruling in his State of the Union address as members of the high court sat only a few feet away.

That triggered something equally unusual. Justice Samuel Alito, a conservative backer of the ruling, frowned and appeared to mouth the words "not true." Alito's apparent reply was a rare flash of emotion among Supreme Court justices who typically sit stony faced and refrain from even clapping during State of the Union speeches.

The actions of both men may be unprecedented, according to one longtime court observer.



The court's 5-4 decision in Citizens United v. Federal Election Commission, issued last week, removed long-established legal barriers preventing corporations and unions from spending unlimited sums of money to influence voters in political campaigns. Democrats fear the decision has given the traditionally pro-business GOP a powerful new advantage.

"With all due deference to separation of powers, last week the Supreme Court reversed a century of law that I believe will open the floodgates for special interests -- including foreign corporations -- to spend without limit in our elections," Obama told a packed House of Representatives chamber Wednesday night.

Alito, part of the court's conservative majority, could be seen apparently frowning and quietly mouthing the words "not true."
Supreme Court justices rarely express any hint of emotion or opinion during the president's State of the Union speech.

Author J.D. Salinger dies at 91

J.D. Salinger, the famously reclusive author whose 1951 novel, "The Catcher in the Rye," became a touchstone for generations of readers, has died. He was 91.

Salinger has long been known for his reclusiveness, and "in keeping with his life long, uncompromising desire to protect and defend his privacy there will be no service," the statement said.

"The family asks that people's respect for him, his work, and his privacy be extended to them, individually and collectively, during this time."

Though he wrote more than 30 short stories and a handful of novellas -- many published in The New Yorker and collected in works such as "Nine Stories" and "Seymour: An Introduction" -- Salinger's fame rests on "Catcher," his only novel.

'Poltergeist' actress dies at age 76

Zelda Rubinstein, the actress best known for her role as the psychic in the horror film "Poltergeist," died in Los Angeles, California, on Wednesday, her agent said. She was 76.

Eric Stevens, Rubinstein's agent for the past four years, said the 4-foot-3-inch actress had never recovered from a mild heart attack she suffered several months ago, which he said left her a patient at Barlow Respiratory Hospital in Los Angeles.

But the diminutive actress first came to fame for her portrayal of Tangina Barrons, the diminutive clairvoyant in "Poltergeist," where she urged a group of spirits to "Go into the light." She later revisited the role in the movie's sequels.

"She had been considering scripts and taking meetings," he said. "Her last feature film appearance was in 'Southland Tales,' which co-starred The Rock, Dwayne Johnson."

Stevens said that per Rubinstein's request no funeral will be held. Instead there are plans for a celebration of her life to be held at the end of February, he said.

What will Apple's iPad cost you compared to the iPhone?

iPad

iPhone

Upfront cost	$629 / $729 / $829	$99 / $199 / $299
WiFi-only version available	Yes ($499 / $599 / $699)	Yes (iPod touch - $199 / $299 / $399)
Voice calling capability	No	Yes
Contract required	No	Yes
Device unlocked	Yes	No
SIM standard	microSIM	SIM
Monthly cost for unlimited data	$29.99	$29.99
Minimum cash outlay per month	$14.99	$69.99
Minimum data cost over two years	$359.76	$720
Maximum data cost over two years	$719.76	$720
Minimum cash outlay over two years	$988.76	$1,778.76
Maximum cash outlay over two years	$1,548.76	$3,178.76

What has Susan Sarandon Been Smokin'?

You all know that I LOVE Susan Sarandon like there's no tomorrow but what was she smokin' when she did this?