Are we missing the outrage for being sold down the river by a ship steered by fools in the mortgage crisis? Even our choice for presidential candidates show heavily embedded lobby and financial interests for a Marxist socialist solution or a watered down free market solution. Both are sleepwalking in lobby money and favoritism.
Selling houses to people who could not afford those home let alone the property taxes was begun by legislation passed by President Jimmy Carter. His legislation encouraged home ownership to people who were high financial risks by making it easy for them to get loans.
President Bill Clinton put this bogus practice on steroids. He enacted legislation that punished mortgage lenders that would not comply. He deregulated risk by legislating against it causing a complete abandonment of conservative lending practices.
Who bought these phony high risk loans? Fannie Mae and Freddy Mac. They, furthermore, became a spring for sending political contributions to politicians encouraging this bad credit homeownership cancer to keep growing. Mortgage company lobbies' handed over hundreds of millions of dollars to politicians' greed in order to perpetuate this circus even as residents of high-foreclosure neighborhoods suffered additional pain from high property taxes.
Insurance companies insured these bogus loans. AIG and others evaluated this risk. Their leverage was originally set at 12 to one. They too threw million in lobby money at Congress, then the asked for a 30 to 1 leverage and further increased risk. This pumped up and spectacurlary increased their profits by huge amounts while the real estate market was going up.
This fraud was given the stamp of approval by chief economists Greenspan and Bernanke and the ship of fool's balloon took off. Socialist organizations such as Acorn (Association of Community Organizations for Reform Now) and other kindred groups pressured banks into giving even more misguided loans.
The House Finance Chief, SEC Chairman, Banking Committee Chairman and any Congressman or public official accepting lobby money were shills for this con game. Prison and banishment from public office should be their reward for violating the public trust! Politicians accepting lobby money need prison and banished from public office. Lobby money is nothing more than a bribe. If you bribe a cop for not giving you a speeding ticket you go to prison. If a public official accepts a bribe, shouldn't they be put in prison as well?
Hot air balloons have a way of crashing when their fuel runs out. When the rise in real estate prices came to an end and the value of real estate assets declined combined with a foreclosure explosion, the market imploded. The government created the problem and a 700 billion dollar bailout (laden with funding for pork projects) is meaningless. The credit boom is over. But, where is the outrage?
Real estate prices have fallen so many municipalities have raised tax rates. When you look at your property tax assessment, there is a good chance that comparable sold homes would give you an edge for a property tax appeal. At least it is worth a second glance. - 15784
Selling houses to people who could not afford those home let alone the property taxes was begun by legislation passed by President Jimmy Carter. His legislation encouraged home ownership to people who were high financial risks by making it easy for them to get loans.
President Bill Clinton put this bogus practice on steroids. He enacted legislation that punished mortgage lenders that would not comply. He deregulated risk by legislating against it causing a complete abandonment of conservative lending practices.
Who bought these phony high risk loans? Fannie Mae and Freddy Mac. They, furthermore, became a spring for sending political contributions to politicians encouraging this bad credit homeownership cancer to keep growing. Mortgage company lobbies' handed over hundreds of millions of dollars to politicians' greed in order to perpetuate this circus even as residents of high-foreclosure neighborhoods suffered additional pain from high property taxes.
Insurance companies insured these bogus loans. AIG and others evaluated this risk. Their leverage was originally set at 12 to one. They too threw million in lobby money at Congress, then the asked for a 30 to 1 leverage and further increased risk. This pumped up and spectacurlary increased their profits by huge amounts while the real estate market was going up.
This fraud was given the stamp of approval by chief economists Greenspan and Bernanke and the ship of fool's balloon took off. Socialist organizations such as Acorn (Association of Community Organizations for Reform Now) and other kindred groups pressured banks into giving even more misguided loans.
The House Finance Chief, SEC Chairman, Banking Committee Chairman and any Congressman or public official accepting lobby money were shills for this con game. Prison and banishment from public office should be their reward for violating the public trust! Politicians accepting lobby money need prison and banished from public office. Lobby money is nothing more than a bribe. If you bribe a cop for not giving you a speeding ticket you go to prison. If a public official accepts a bribe, shouldn't they be put in prison as well?
Hot air balloons have a way of crashing when their fuel runs out. When the rise in real estate prices came to an end and the value of real estate assets declined combined with a foreclosure explosion, the market imploded. The government created the problem and a 700 billion dollar bailout (laden with funding for pork projects) is meaningless. The credit boom is over. But, where is the outrage?
Real estate prices have fallen so many municipalities have raised tax rates. When you look at your property tax assessment, there is a good chance that comparable sold homes would give you an edge for a property tax appeal. At least it is worth a second glance. - 15784
About the Author:
Before you accept the correctness in calculating your property tax assessments, investigate and read a property tax guide that could actually reduce your tax burden. Property tax records are many times in error and an appeal will reduce your property taxes dramatically and continue to actually reduce your property tax for years in the future.