when does this legislation go into effect? thanks.
J Stroeve
of MN
@
Jul 30, 2008 12:09:03 PM
Not a Disaster
No own is happy that the government had to take these actions, but this is what makes this country great. We help each other! We don't leave people out to drown!
The last writer suggests that home ownership is only for those who save and work hard, do you think the people who are having these problems don't work hard and save money? Grow up!
Bad things happen to good people and they need help, there but for the grace of God go I, guess they never heard that expression.
This is not a perfect fix, but is was needed. Its the first good legislation that George Bush has signed since he has been in office.
Bob
of CT
@
Jul 29, 2008 12:12:41 PM
This is a Disaster
When did the government get the authority to purchase equity in a private company. With tis legislation, the US govt is essentially nationalizing the mortgage industry in this country. This will have a long term negative effect on the markets and on all taxpayers who are unfortunate enough to actually have to pay taxes (a small percentage and shrinking). Let Freddie and Fannie fail. Break them up into smaller private companies with market pressures to be competitive. Letting them fail will change the lending practice in this country and maybe slow down the number of bad loans being made.
Not everyone can afford a home and therefore shouldn't own a home. Home ownership is not a right of every citizen; it is a privilege to be enjoyed by those that save, work and pay their bills.
Mark B
of IN
@
Jul 28, 2008 17:54:06 PM
1st time home buyers
I am curious on the $7500 tax credit. What tax bracket do you have to be in? I read that you have to be considered low income but what tax bracket is that?
Patsy Chavez
of CA
@
Jul 28, 2008 14:15:09 PM
to foreclosures
for intance my property is in foreclosure now can the Gov't help stop the bank takeaway my home because it about to be an efect on octorber 2008 efter president bush sign it and thanks president bush also the congress who think about all of us who are on the same sitiation im very appriate that even those who not voted for it i still have respect for your time to be there for those who voted to approved it that dons't from you only but it is the bless from The LOrd coming to hart thanks again an advance to help me to keep my house. May the Lord Bless YOu and Yours GOD Bless AMERICA
Wilner Raphael
of FL
@
Jul 28, 2008 09:13:24 AM
forcslosure
stop all foreclosures now until the new law go into effect.
bob park
of MD
@
Jul 27, 2008 10:14:45 AM
What They Don't Mention
The original line of credit to the treasury of Freddie and Fannie was $2.5 Billion. With passage of this bill the line is open-ended. The treasury is now allowed to buy unlimited Freddie and Fannie securities w/out even having to ask congress. Burried in the bill, the national debt was moved up $800 Billion, and all credit card transaction will now be reported to the IRS. I get action alerts about bad bill before they pass into law from jbs.org. They do a great job of keeping track of the many bad upcoming bills and make it easy to contact congress. Until enough people pressure congress before they vote, these bad bills will keep passing.
opencongress.org and govtrack.us to find out how they voted. And JBS.org to get email alerts before they vote.
jsca
of PA
@
Jul 26, 2008 20:02:12 PM
Housing Crisis is Not the cause of the anemic economy
Just as when you donate a pint of blood, one feals anemic, a lack of energy, and viger.
So goes the economy. In the last thirty years, especially under the Reagon & Bush administrtions, wages have dropped in real terms by 15%.
Thousands and thousands of good middle income jobs were sent overseas, while thousands more jobs were taken by low wage immigrants. The Mimimum wage rate hasn't gone up in over 10 years. Since Gearge W assumed office, fewer people own their own homes than 10 years ago, even while the American population is at record numbers. Since Bush, 5 million workers dropped out of the middle class. Without good jobs, there's no money to spend.
Money is the blood of the economy. When you allow the economy to run unregulated (Republican agenda), the wealth will rise to the top, leaving the middle and lowere classes dying on the vine and homeless.
J Stroeve of MN @ Jul 30, 2008 12:09:03 PM
Bob of CT @ Jul 29, 2008 12:12:41 PM
Mark B of IN @ Jul 28, 2008 17:54:06 PM
Patsy Chavez of CA @ Jul 28, 2008 14:15:09 PM
Wilner Raphael of FL @ Jul 28, 2008 09:13:24 AM
bob park of MD @ Jul 27, 2008 10:14:45 AM
jsca of PA @ Jul 26, 2008 20:02:12 PM
Wayne Helms of MN @ Jul 26, 2008 12:50:32 PM
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