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• carfax.com - check car history
• terrafugia.com - new flying car in 2010
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Clark’s Scion XB has something called "electronic stability control," a safety feature that has already saved him from a potentially horrible accident. The great news is that by 2012, all cars will have to have ESC, according to a new government edict. So, what is ESC? It's a new technology that automatically corrects a car that is about to flip, turn over and the like. GM and Ford are working on getting ESC in cars over the next few years. Toyota and Honda already have it in most SUVs and some other cars. So, ask about it if you're thinking of buying a car. We’ll keep you posted on progress, but this is actually something for which we should congratulate the government. Shocking, isn't it?

The number of people falling behind on home loans is up 53 percent from one year ago. That doesn’t automatically mean those people will go into foreclosure, but foreclosure rates will go up as a result. Basically, a lot of people have gotten into houses that they couldn’t quite afford, and now things are getting bumpy. In markets that were speculative, the number of foreclosures is up even more. In Arizona, for example, foreclosures have increased 155 percent, according to foreclosures.com. The news has bankers and lenders so concerned that the CEO of Countrywide Mortgage has been randomly calling people with option payment mortgages. He’s trying to find out why they went into the loans and if it’s really as bad as it seems. Option payment loans basically cause balances to increase instead of decreasing as customers pay off their loans If you or someone you know is feeling pinched, pick up the phone and call the mortgage company to work something out. The lender does not want your home, so they will try to work something out with you.

Clark despises variable annuities and that is not going to change. They are piece-of-trash investment products, and are not a good idea for anyone. Regardless of what sales people say about these products, you do not want to buy or invest funds from a former retirement plan into variable annuities. These are basically insurance policies sold as if they’re mutual funds. But the tax on these investments is outrageous, as are the expenses. Salespeople are pushing them because they make a tons of money on them. Stay away!

About 60 percent of hospitals in the country have charitable status under the tax code. That means those hospitals are supposed to provide care to people who can’t afford it. In return for that, taxpayers subsidize the hospital by making its operations “tax free.” But, the U.S. Senate has found that charity hospitals were doing exactly the opposite of what they’re supposed to be doing. These charity or non-profit hospitals have been charging indigent people more than what they charge paying patients. First of all, the IRS should strip tax free status from those hospitals that don’t provide charity care. They’re cheating us out of our money. And, charity hospitals should not be allowed to charge people different rates. There is no valid argument for this. Most importantly, we have to fix the individual health care market. People should be able to buy their own policies or we’re going to move toward socialized medicine.

Have you heard about the new tax law that donated goods can only be deducted from your taxes if they are in good condition? Well, the problem is that the IRS has not defined what “good condition” is. Clark wanted to know if the new law will affect your decision to donate goods. He asked that question in a poll and people had an interesting response. About 60 percent said they would give just as they always have. About 20 percent said they would think twice about it. And the other 20 percent said they would stop giving all together. The statute came about because people were basically giving junk to Salvation Army and Good Will and then deducting it off their taxes. This week’s poll is about your mortgage. What kind of mortgage do you have? Clark would like to know.

Years ago, Clark talked about a flying car from Moller called the “Skycar.” It’s still not in air but the idea fascinates Clark and he’s convinced it will happen in his lifetime. Further proving that point is the latest invention from some grad students at MIT. It’s a car that can drive around town, but it has wings that come out when you want to fly. It’s called “The Transition.” The idea is that you can drive when driving is appropriate and fly when you want to, as well. So, when can we expect this to happen? Those engineers are predicting 2010. You can even put a deposit down on one now! The vehicle is estimated to cost about $150,000, so start saving!