And why should the government buy homes? That is the one that just makes me RAGE! I can't afford a home and that won't change if cities are going to purchase homes to keep them off the market. WHAT?!?!? How does that make sense? Oh and all you homeowners that think that's a good idea, they are actually draining the property tax pool so either you pay more or get less services.
I hope she's a stupid person because, if not, then she's just an evil person and that's probably worse.
Final note: WHY WON'T MY REPRESENTATIVES ANSWER MY QUESTIONS!?!?!? They send form letters mocking my questions instead.
Dear [Negocios Loucos]:
Thank you for contacting me regarding housing market reform and foreclosure prevention legislation. I recognize how important this issue is, and would like to share with you what Congress has done to help.
Like you, I am very concerned about the current economic downturn, which has been caused in part by the declining housing market. To address record- high foreclosure rates among American homeowners, on July 30, 2008, the President signed the Foreclosure Prevention Act of 2008 (Public Law 110-289) into law. I am hopeful that this broad housing package will help hundreds of thousands of Americans keep their homes while stabilizing the housing market going forward.
Specifically, this legislation will:
oCreate a new program within the to help homeowners facing the threat of foreclosure. The HOPE for Homeowners Program will allow the FHA to refinance mortgages in certain cases where banks voluntarily provide . To inquire about this new program, please contact the FHA directly at .
oEstablish a new and independent regulator for Fannie Mae and Freddie Mac to ensure that they responsibly fulfill their role in the housing market.
oGrant the Secretary of the Treasury emergency financing authority to purchase debt securities and stock from Fannie Mae and Freddie Mac.
oPermanently increase the conforming loan limit for government-backed mortgages to $625,500, which allows more Californians to obtain mortgages at lower interest rates.
oProvide first-time homebuyers with a tax credit, equivalent to an interest-free loan, worth up to $7,500.
oProvide $3.92 billion in Community Development Block Grants (CDBG) to allow local governments with high foreclosure rates to purchase and rehabilitate foreclosed upon properties.
Additionally, I am pleased that legislation I introduced, along with Senator Mel Martinez (R-FL), known as the "S.A.F.E. Mortgage Licensing Act of 2008" is included in the bill. This important legislation will require all mortgage brokers and lenders to meet minimum national licensing standards in an effort to curb abusive lending.
Please know that I will keep your comments in mind should further legislation to address our country's come before the Senate.
Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at . Best regards.