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Congress Stabs FHA Buyers Through The Heart
Just when buying a house couldn't be any more challenging today, Congress and President Bush railroaded the FHA buyer with a last minute addition to HR 3221aka, - The Housing and Economic Recovery Act of 2008 - aka, The Foreclosure Prevention Act of 2008 - aka, The New Direction for Energy Independence, National Security, and Consumer Protection Act - aka, The Renewable Energy and Energy Conservation Tax Act of 2007 - and... aka, The American Housing Rescue and Foreclosure Prevention Act of 2008.
First, and before I launch into my tirade about Section 2113 of HR 3221, I want you to take just a moment to reflect on what the much ballyhooed, Foreclosure Prevention Act of 2008 really dealt with. This BILL had so many heads growing out of it, that it began to look like the mythical hydra. This is a typical "Washington Maneuver" when creating legislation and/or laws. Our legislators just can't seem to focus on simply one single item. No... they have to tie one idea to another and then to another and to another and so on and so on. Soon enough, the idea that spawned the initial BILL, is loaded with all types of other issues ... more

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