The First-Time Home Buyer Tax Credit stuffed into the Housing and Economic Recovery Act of 2008 to stimulate demand for housing or ease the mortgage crisis, will not have the desired effect. One of the reasons is this supposed tax credit is really just a loan!
First-Time Home Buyer Tax Credit Examined
Let’s examine what real [...]

The President signed into law the so called mortgage relief bill, H.R. 3221, which really should be called the Fannie Mae and Freddie Mac Relief Bill. This bill will bring no mortgage relief to anyone other than investors in GSE debt and stock holders.
In an AP report, White House spokesman Tony Fratto said,
“We look [...]

The Housing Economic Recovery Act of 2008 became law today and I am sad to say it will offer no help to consumers, home owners, or foreclosure victims. As with most political solutions to economic events, the new law has more bark than bite.
In an interview on Bloomberg (see video below), Thomas Atteberry [...]

Down payment assistance programs like The American Dream Down Payment Assistance are all but outlawed for use with any government insured loan programs.
It’s about damn time!
I can hear you now, “What’s wrong with charities helping home buyers by giving down payment assistance?”
In a word, it’s a scam…that’s why!
In more than a word, [...]

The National Debt was raised $800 Billion this weekend in the new Housing Bill H.R. 3221. The National Debt ceiling can go as high as $10.6 Trillion or roughly 75% of the US Gross Domestic Product.
All this just to bail out Fannie Mae and Freddie Mac?
I won’t repeat my disdain for this [...]