… I did predict there would be big changes what with a national election looming up…
- A one-time $100-BB tax rebate and tax incentives for employers to hire more workers
- Temporary cut in corporate income taxes
- Emergency assistance for owners who need extra money to help with high heating bills this winter
- Proposals to expand loan modifications and payment relief for borrowers heading for serious delinquency or foreclosure
- Widening “rate freeze” mortgage relief programs beyond just sub-prime borrowers to ALL borrowers, including those with prime credit, who find themselves in trouble on their mortgages
- $MM’s for new assistance for local nonprofit counseling groups who reach out and guide mortgage borrowers in danger of losing their homes
- Federal Tax Code amendment allowing state & local housing agencies to issue tax-exempt bonds to refinance loans of troubled homeowners (not just assisting new home purchasers) at low, fixed rates
- Moratorium on foreclosures nationwide and legislative amendment allowing bankruptcy court judges to unilaterally reduce homeowners’ mortgage debts to lenders… BUT there is non-acceptance for these two issues from bankers and the mortgage industry
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