Things zoerctagroup is Tracking:
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Your OpenCongress profile can track any of the bills, Senators, Representatives, and issue areas on the site. Just click the button under "Track This" at the top of any page and it will be automatically added here to your tracked items. On this page, you have a continually-updating "bird's eye" view of all the activities associated with each tracked item since you last logged-in. Click on any button on this page, for example, "Status Updates", for a drop-down view of the latest five updates and a link to view all. Click on a category name below, such as "Bills", to view more detailed updates for each tracked bill and suggestions on how to find other interesting bills to track throughout the site.
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H.R.2776 Renewable Energy and Energy Conservation Tax Act of 2007
- Anonymous : Energy policy is very important and is a big part of our economic problems as is failure to invest in scientific research. It needs more attention. Taking tax incentives away from U.S. oil and gas companies is only addressing one part of a very much larger and global problem. Congress needs a balanced approach where there is more exploration and production in the U.S, as well as more advanced research on renewables and on advanced energy sources. America should have a program like the "Manhatten Project" or the "Race to the Moon", to develop new energy sources.
You also need to allow the General Services Administration to enter into longer term contracts for energy supply so they can buy from renewable generators. The current ten- year limit they operate under, keeps the government from using its buying power to stimulate renewable energy production. A debt of thanks is owed to Rep. Rangle and Speaker Pelosi for there leadership and efforts in this area.
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H.R.3648 Mortgage Forgiveness Debt Relief Act of 2007
- Anonymous : I am on social security disability, have a predatory loan. I am 3 months behind in my mortgage payments, and wish to refi. Can I participate with indebtness program?
- odiek56 : If I am prsently doing a non-recourse short sale is H.R. 3648 a California law so that I don't get a 1099 from the lender.
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S.2133 HOMES Act
- Anonymous : too much interference may have bad consequences.
There are several instances in different states where a
( http://www.nycourts.gov/reporter/3dseries/2008/2008_28032.htm )
foreclosure proceeding was decided to be in favor of the defendant and the mortgage returned because the loan was found to be 'predatory' in accordance with State Banking Laws.
The buzz is that this bill might result in higher interest rates, and that would stall the purchase market; people on the sidelines that are contemplating their first home because the prices are low and the rates are low. Once rates are higher, it is perceived as too risky and too expensive.
In the spirit of the FDR days, I humbly suggest setting up subsidies for commercial real estate investors / developers that have the ability and experience to renovate / create affordable housing facilites, include expansion of job placement (preferably counselors reporting to work in the lobby of each facility) and also provide public works projects in the vicinity.
Yes, allow the foreclosures. The ramifications of burning the investors will further diable the credit market, and potentially destroy good will in the future.
Also, as mentioned by R- Frank, it is too large a task to distinguish the savvy investors from homeowners caught up by accident (reward one, punish the other catch-22).
It is a shame when people are forced from their homes, but this is not a time to pretend we can change the past. Loans were made on the same criteria:
Credit
Collateral
Income
the credit issue is debatable, beacuse we rely on models based on undisclosed algorithms we don't really understand. But in essence, if someone has a habit of not paying their bills, chances are they are a risk.
Collateral: When everything goes up value-wise, towards a 2-5x multiple of median income for an area, someone needs to step in and cap the LTV's (Loan to Values) ahead of time. That should be written into State Banking Laws.
Income:
Debt-to-Income. Allowing a loan to pass muster where 60% of borrowers' is spoken for is purely insane. Not verifying that income in addition is asking for it.
It is not the individual homeowners' fault these programs existed, but again; we cannot go back and re-write history.
The best solution may be painful but the closest opportunity to turn the real estate market around while at the same time avoid the same mistakes is to have lower rates on stable mortgages (15 20, 30 year fixed rates) to convert current renters into homeowners. Property tax subisidies for 5 years for first time home buyers in high-cost markets is also advisable.
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H.R.5351 Renewable Energy and Energy Conservation Tax Act of 2008
- Anonymous : Let's get this bill through congress. We need all kinds of energy:Wind, Solar, Nuclear, Geothermal, Coal, Oil etc. Let's not have a future of bicycles and eating the grass in our backyards.
We need energy to grow crops, transport everything etc.
- Sader98 : Has any member of the house ever taken an economics class??
$18 billion will come off the oil companies and passed along to the consumers - along with the current price of oil which today has hit a new record of $127.49!! Vote them all out!
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H.R.6049 Tax Extenders and Alternative Minimum Tax Relief Act of 2008
- Anonymous : Does this bill provide for federal Road Home money for Katrina victims to be considered a grant and therefor tax exempt?
- Anonymous : Anyone know how long it usually takes for the President to sign this bill into law??
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