congress gets down to BUSINESS on H.R. 3126! - 10/29/09 11:24 PM
This week, the House Financial Services Committee passed H.R. 3126, the "Consumer Financial Protection Agency Act of 2009" including an amendment to repeal HVCC, the Home Valuation Code of Conduct, or as we call it, the "Havoc Rule". The bill still has to clear both houses and be ratified into law. Any chance of that before Christmas to save the sale market running up to the new year?
This bill also contains the First Time Buyer Tax Credit extension and provisions to assist repeat home buyers and small businesses with tax breaks. All great ideas. But as measures, resolutions and bills go, it will be very … (4 comments)

First Time Buyers Get the BOOT! - 10/16/09 02:51 PM
Military boot size that is. Congress is dithering whether to extend the FTHB Tax Credit at all...and so they are suggesting the extension will only go to Veterans who have served overseas during the last year.  Those  service members who have served overseas for 90 days in 2009 will have an additional for six months to take advantage of your First Time Tax Credit. Major political ploy to win hearts with military families. Hint hint...your average Joe the plumber is unlikely to qualify for this extension.
Have you written, called, emailed and bothered your Representatives and Senators about this yet?
Loan bottleneck: Meanwhile, first time … (3 comments)

HAMP'n in the 'HOOD! - 10/07/09 06:00 PM
Home Affordable Modification Program (HAMP) Update
Freddie Mac has been reduced to going door to door to attempt stopping foreclosures. Well...wonder how they are being received by their beleaguered mortgagees? Anybody seen Freddie on your street yet?
$4.7 Billion headed to the usual suspects: To date, our modification partner's experience with the primary originating banks of so many distressed homeowners has been pretty hard going. Oddly, the HAMP program has not been all that popular with some of the biggest banks with the highest foreclosure rate. Namely Countrywide, GMAC, Citi, National City Bank. So to encourage these big banks to actually USE the government foreclosure … (4 comments)