Housing Crisis Fix?

By Associated Press
.

Congress is one step closer to helping Americans facing foreclosures. Housing Crisis Fix?
Published: Mon, July 07, 2008 - 9:24 pm Last Updated: Mon, July 07, 2008 - 9:28 pm
It's still got a long way to go, but a
mortgage rescue plan to save hundreds of thousands of homeowners
from foreclosure has inched closer to the finish line.
The Senate voted 76-to-10 to advance the measure. It includes
overhauls of the Federal Housing Administration, Freddie Mac and
Fannie Mae.
A new 300 billion dollar FHA program would help debt-ridden
homeowners to qualify for government-backed refinancing of more
affordable mortgages. But there are a few roadblocks in the form of
so-called ad-ons.
One of them is a proposal by Nevada Republican John Ensign to
attack an 8-billion-dollar package for renewable energy tax breaks.
Still, passage appears likely by the end of the week with enough
votes to override President Bush's promised veto.
The White House has voiced reservations about a
3.9-billion-dollar plan for buying and fixing up foreclosed
properties. Republicans view it as a bailout for lenders who helped
create the mortgage crisis. Democrats counter it's a way to prevent
neighborhood blight.

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Analysts say more U.S. banks will fail
this is starting to get really scarey. i felt like this was coming but not this soon.  its like a volcano thats smoking and then erupts.

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carl , that depends on where you live. lol . some home values increased but most are dropping. which should be a really good thing. only problem is banks have no money. i remember when we were looking at new home ideas to build ours. one real estate agent there showing a lady a house. the lady told me she liked a really big house. after i thought “well yeah only if you have a housekeeper”.  but now i see people were buying bigger houses for resale. They were buying more for less only difference now is the banks have no money. if banks have no money we are in trouble. most companies have to borrow money for one thing or another. banks go under, companies go under, no jobs etc.  its the domino effect.

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I think my estimated value stayed the same! $122,100 and I paid $10,500 when I bought it. Anybody want to buy it for $122,100 ? Due to the drop in the prices of homes I thought we should have seen a noticeable drop in value.

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FYI, if I am reading the recent tax notice correctly, my house reduced in value as compared to last year. Now that is odd. I am not going to argue.

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working4u, did you see the people lined up at indymae bank to withdraw money.  these banks are in deep do do because of the housing crunch. wether you live in a modest home or a mansion this is very scarey. imagine going to the bank and seeing closed on it. unbelievable.

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Accepted.

Working, you bring up a good point. Perhaps in these days of higher prices for groceries and gas, a few hundred dollars a year exempted in taxes could make a huge difference in an elderly person’s standard of living. Why aren’t we letting our citizens know?  How can we inform more of them?

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Southfan sorry about that and I deeply apoligize to you. I’m the one that time that was too quick to make a remark. Accept my apology friend.

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Carl, that was not meant to be rude. It was a JOKE!

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rmseek1234, yes it is now, but before when the city limit was at cody, how many miles. i they would always edge it further out, then get complaints and move it back. even with bringing back farther my way a policman told me to check on it, because it still was not right.

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Rosepetal-Snow Road is out west of the Airport. That is about three to four miles west of Cody Rd.
Generally the MPJD extends 3 miles outside the Mobile City Limits. Now the new MPJD extends from Sch, Rd down Tanner Williams to Big Creek Lake. That about three miles. Owell I hope that helped.

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