Two good news stories on the national front that are worth sharing this morning. Story 1: Senate Defeats Mortgage ‘Cram-Down’ as Democrats Balk The U.S. Senate rejected a measure that would let bankruptcy judges cut mortgage terms to help borrowers avoid foreclosure, a victory for banks and credit unions that said the legislation would increase…
Tag: government_meddling
State Considers Irresponsible Plan to Pre-Distribute $8,000 Tax Credit
According to a post on Aubrey Cohen’s P-I blog Seattle Real Estate News, State may give buyer credit as temporary loan. First-time home buyers would get their $8,000 tax credit as a state loan at closing, under a measure the state Senate Ways and Means Committee approved Wednesday night. The federal government is offering the…
Poll: Bailouts / “stimulus” / rule changes…
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Some Brief Thoughts on the New Car Tax Break
Just a quick comment on one aspect of Obama’s just-announced plan to “see the auto industry through these difficult times.” I’ll keep this brief since it has little to do with either real estate or the Seattle area. Here’s a portion of the president’s speech: …the IRS is today launching a campaign to alert consumers…
State Senate and House Pass “New Home Warranty” Bills
Although the state legislature hasn’t yet made the time to figure out what to do about the $8.5 billion budget deficit, they did make the time last week to pass a “consumer protection” bill mandating warranties on new home construction. House Bill 1393 also creates an “office of consumer education for home construction” as a…