Monday, September 29, 2008
to the Secretary of the Treasury to buy mortgages and other assets that are clogging the balance sheets of financial institutions and making it difficult for working families, small
businesses, and other companies to access credit, which is vital to a strong and stable economy. EESA also establishes a program that would allow companies to insure their
II. Homeownership Preservation
EESA requires the Treasury to modify troubled loans – many the result of predatory
lending practices – wherever possible to help American families keep their homes. It also directs other federal agencies to modify loans that they own or control. Finally, it improves the HOPE for Homeowners program by expanding eligibility and increasing the tools available to the Department of Housing and Urban Development to help more families keep their homes.
III. Taxpayer Protection
Taxpayers should not be expected to pay for Wall Street’s mistakes. The legislation
requires companies that sell some of their bad assets to the government to provide warrants so that taxpayers will benefit from any future growth these companies may experience as a result of participation in this program. The legislation also requires the President to submit legislation that would cover any losses to taxpayers resulting from this program from financial institutions.
IV. No Windfalls for Executives
Executives who made bad decisions should not be allowed to dump their bad assets on
the government, and then walk away with millions of dollars in bonuses. In order to
participate in this program, companies will lose certain tax benefits and, in some cases,
must limit executive pay. In addition, the bill limits “golden parachutes” and requires
that unearned bonuses be returned.
V. Strong Oversight
Rather than giving the Treasury all the funds at once, the legislation gives the Treasury
$250 billion immediately, then requires the President to certify that additional funds are
needed ($100 billion, then $350 billion subject to Congressional disapproval). The Treasury must report on the use of the funds and the progress in addressing the crisis. EESA also establishes an Oversight Board so that the Treasury cannot act in an arbitrary manner. It also establishes a special inspector general to protect against waste, fraud and
Read the text of the Emergency Economic Stabilization Act of 2008 and tell us what you think.
Friday, September 26, 2008
PRESS RELEASESeptember 15, 2008
CONTACT PERSON:Juan Cabrera718-210-3203 NEW YORK, NY - Casa Latino Real Estate and Los Taxes have built a strategic alliance to promote both brands within the Latino community. Casa Latino is American's leading multicultural Real Estate brand whose mission is to help its clients achieve the American dream of homeownership. Casa Latino founder and CEO Robb Heering stated "The Casa Latino business model is the first nationwide real estate franchise that is customer-centric, agent-centric, and owner-centric. Our model simply allows our agents to deliver better services to our customers.
Our franchise expansion efforts have been well received and we anticipate tripling our system size during the next 12 to 18 months. Most would agree that there are consumer needs out there that have not been effectively and ethically met. Casa Latino brings a fresh and innovative approach to the market and the market is responding positively".
Los Taxes is the First Latino Income Tax Preparation Franchise in America. "We have created a company with a simple mission: to provide honest and reliable income tax preparation service to the Latino community in a culturally sensitive office environment where taxpayers can find financial assistance in their language and culture offered by trained tax practitioners whose integrity and respect to system regulations are above all." Stated Javier Solis, President and CEO of the New York based company.
"Los Taxes will focus in providing excellence in tax preparation service to our Latino community. "Para Nuestra Gente" For our People, states our commitment to meet the financial needs of Hispanics, especially in the area of tax preparation and offering an office environment where Hispanic tax payers can find professionals who understand not only their language but especially their culture" added Javier. This alliance will encourage Real Estate Professionals to adopt a new business model to provide a variety of financial services to our Latino community and help real estate practitioners increase revenues.
Homeownership is the first step people take to build wealth and taking advantage of tax incentives encourages taxpayers to achieve homeownership. The implementation of Tax Service within a Real Estate environment is being implemented in several cities and Casa Latino franchisees will be able to take advantage of all the tools Los Taxes have available to run a tax center.
For a limited time, Casa Latino and Los Taxes will offer discounted franchise fees to those who acquire both franchises at the same time. For additional information please, visit https://webmailcluster.perfora.net/xml/deref?link=http%3A%2F%2Fwww.CasaLatino.com or https://webmailcluster.perfora.net/xml/deref?link=http%3A%2F%2Fwww.LosTaxes.com
Wednesday, September 24, 2008
Sunday, September 21, 2008
Washington, D.C. (PRWEB) September 17, 2008 -- The American Nightmare is a new book by veteran housing counselors Sylvia Alvarez and Walter Walker Jr. that offers distressed homeowners tips and strategies that can help them avoid, survive and overcome foreclosure. Published in partnership with the National Association of Hispanic Real Estate Professionals (NAHREP), free downloadable excerpts of The American Nightmare are available in English and Spanish at www.NAHREP.org and include pointers that will help desperate homeowners from becoming the target of short sale and foreclosure scams.
A link is also provided to purchase the book for $14.95.
|Too many panicked homeowners that are looking for ways to save their homes are falling prey to unscrupulous people and foreclosure scams|
Unsuspecting homeowners that are frantic for a quick fix to avoid foreclosure are becoming the victims of foreclosure scams that promise to save them from the loss of their homes. Many are paying thousands to thieves disguised as well meaning professionals that offer to repay their mortgage in exchange for the transfer of their deeds. The authors were inspired to write the book after being deluged at the housing agency where they work by people who have fallen prey to these mortgage scams and others. In addition to practical advice about how to avoid foreclosure, negotiate loan modifications or short sales and more, the book educates readers about the clever ways predators are bilking consumers.
FREE downloadable excerpts of the book offer homeowners information about:
- Common predatory lending scams
- Short sale and "flip for profit" scams;
- Equity skimming scams that leave homeowners with more debt and no house;
- Phony counseling agencies;
- How to file a complaint and report mortgage fraud;
- Plus options that homeowners can pursue if they are already in mortgage default.
"Too many panicked homeowners that are looking for ways to save their homes are falling prey to unscrupulous people and foreclosure scams," said Rebecca Gallardo-Serrano, Chairman of NAHREP. "Knowledge is power. The American Nightmare offers homeowners important information about the types of scams out there and how they can protect themselves from predators."
The National Association of Hispanic Real Estate Professionals, a non-profit 501c6 trade association, is dedicated to increasing the homeownership rate among Latinos by educating and empowering the real estate professionals that serve them. Based in Washington D.C., NAHREP is the premier trade organization for Hispanics and has more than 15,500 members in 48 states and 62 affiliate chapters.
Thursday, September 18, 2008
The Greater New Orleans Fair Housing Action Center (GNOFHAC) is a private non-profit organization. The Center was established by a group of concerned New Orleanians in 1995 with the help of the National Fair Housing Alliance and a grant from the United States Department of Housing and Urban Development. GNOFHAC is dedicated to eliminating housing discrimination and furthering equal housing opportunities through education, outreach, advocacy, and enforcement of fair housing laws across the metro New Orleans and Baton Rouge areas.
Tuesday, September 16, 2008
The new federal tax credit serves as an interest-free loan for first-time homebuyers or for those with no ownership interest for the last three years
The law defines first-time home buyers as those who have not owned a home used as their main residence for at least three years. The tax credit is for the purchase of either new or existing homes purchased between April 9 of this year and July 1, 2009.
The tax credit is a refund from Tio Sam. For example, if person owes $2,500 in income taxes, the $7,500 tax credit would wipe out that amount and the federal government also would send out a $5,000 check. If the taxpayer owes nothing at tax season, the total credit amount would be $7,500.
The $7,500 federal tax credit has a higher income ceiling for eligible home purchasers. Single buyers can get the full tax credit if their incomes are less than $75,000. Married couples will qualify with incomes up to $150,000. The tax credit phases out for higher-earning homebuyers and goes away entirely for single taxpayers earning more than $95,000 and married couples $170,000.
Homebuyers don't have to comply with any homeownership education in order to qualify for the tax credit, how ever, taking a class thru one of the locals homeownership counseling agency is highly recommended by RealEstateLatino.com before purchasing a home.
Wednesday, September 10, 2008
Chairman of the House Financial Services Committee, Barney Frank, has discussed publicly the fact that he has negotiated an agreement with HUD Secretary Steve Preston that will provide for the continuation of privately funded downpayment assistance.
The agreement allows HUD to impose risk-based pricing on downpayment assistance transactions which provides Secretary Preston the fiscal protection he seeks for the FHA insurance fund.
According to an Inman News article published today, Chairman Frank is quoted as saying "The FHA loved the ban on down-payment assistance (but) hated the ban on risk-based pricing," Frank said at Saturday's hearing. "That seemed to me to offer an opportunity. So (HR 6694) will replace both bans with middle ground -- and it will pass the House, I can guarantee you. What you want to do now obviously is talk to your senators. We think it will go through there -- it has the approval now of the Secretary of HUD."
Thanks to the advocates of downpayment assistance, there is significant momentum in this direction. Nehemiah urges all supporters to continue their campaign to save DPA by contacting their Senators and request a swift passage of pro-DPA legislation.
Read the entire article:http://www.inman.com/news/2008/09/10/congress-weighs-reprieve-seller-funded-gifts
More exciting developments: join Scott Syphax, President and CEO of Nehemiah Corporation of America, for a 30-minute virtual town hall meeting on Thursday, September 11, at 10:00 AM
Fighting for Families - Nehemiah Corporation of America
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