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Old 05-25-2009, 07:37 PM
 
Location: San Antonio North
4,147 posts, read 7,240,267 times
Reputation: 1009

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The Fix Housing First Act

The Purpose

Quote:
Senator John Ensign, Chairman of the Republican Policy Committee, drafted an economic recovery plan that will help fix the housing market, create jobs and provide tax relief to middle-class families and small business owners. The bill, titled the Fix Housing First Act
The Plan

Quote:
Under Ensign’s plan, American homeowners would be able to refinance their current mortgages or finance the purchase of a new home for about 4 percent. On average, this means monthly payments would be $400 lower – a savings of up to $150,000 over the course of a 30-year loan. Estimates show that almost two-thirds of Nevadans could take advantage of this plan.
I did not think so.

(all info came from Senator Ensign's website)
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Old 05-25-2009, 09:40 PM
 
31,385 posts, read 32,119,175 times
Reputation: 14896
Quote:
Originally Posted by ryneone View Post
The Fix Housing First Act

The Purpose

The Plan



I did not think so.

(all info came from Senator Ensign's website)
Nice to see at least one Republican deciding to be part of the solution instead of the problem.

Of course if it were such a great idea, why not a link?
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Old 05-25-2009, 10:14 PM
 
1,315 posts, read 1,446,471 times
Reputation: 402
Quote:
Originally Posted by ryneone View Post
The Fix Housing First Act

The Purpose

The Plan



I did not think so.

(all info came from Senator Ensign's website)
Unrealistically low interest rates are what helped create the housing bubble in the first place.....

Is this brilliant senator trying to create another one??

Aid should be targeted towards those in or near foreclosure - the last thing we need is Housing Bubble II created by another round of artificially low interest rates...

By the way - can you provide a link so we can see details of how this plan would actually work?
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Old 05-25-2009, 10:33 PM
 
69,372 posts, read 55,536,220 times
Reputation: 9363
Quote:
Originally Posted by ovcatto View Post
Of course if it were such a great idea, why not a link?
It took you longer to ask where the link was, than it took me to find one..

John Ensign, United States Senator of Nevada: Press Releases (http://ensign.senate.gov/public/index.cfm?FuseAction=Media.PressReleases&ContentRe cord_id=471e7ea0-962d-921a-0cf8-ca13911620e2&Region_id=&Issue_id=c2d5fded-7a16-43f2-8399-ea4da30a1a68 - broken link)
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Old 05-26-2009, 05:56 AM
 
31,385 posts, read 32,119,175 times
Reputation: 14896
Nice press release and a seemingly interesting bill, unfortunately I don't have the time to research the differences between Ensign's legislation and the housing bill that was passed which Ensign voted...no.

TheHill.com - Ensign threatens to hold up housing bill

The Senate overwhelmingly approved the package during a rare Saturday session with support from all Democrats present and half the Senate's Republicans. The bill similarly swept through the House earlier this week as the nation's housing woes worsen, despite objections from Republican leaders that it was a bailout.

Ensign votes against housing bill that passes Senate - Las Vegas Sun
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Old 05-26-2009, 04:06 PM
 
Location: Charlotte
12,646 posts, read 13,923,680 times
Reputation: 1679
Quote:
Originally Posted by ovcatto View Post
Nice press release and a seemingly interesting bill, unfortunately I don't have the time to research the differences between Ensign's legislation and the housing bill that was passed which Ensign voted...no.

TheHill.com - Ensign threatens to hold up housing bill

The Senate overwhelmingly approved the package during a rare Saturday session with support from all Democrats present and half the Senate's Republicans. The bill similarly swept through the House earlier this week as the nation's housing woes worsen, despite objections from Republican leaders that it was a bailout.

Ensign votes against housing bill that passes Senate - Las Vegas Sun

The housing bill that passed the House did not include the renewable-energy package the Senator was holding out for, which was not included in this plan on the linked site. Fact Sheet on Fix Housing First Act (http://ensign.senate.gov/public/index.cfm?Fuseaction=Files.View&FileStore_id=4089c d40-13c2-45ec-b9a6-78cb7e7c4cfb - broken link)
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Old 05-26-2009, 07:11 PM
 
Location: Irvine, CA to Keller, TX
4,831 posts, read 6,194,868 times
Reputation: 844
Quote:
Originally Posted by HubbleRules View Post
Unrealistically low interest rates are what helped create the housing bubble in the first place.....

Is this brilliant senator trying to create another one??

Aid should be targeted towards those in or near foreclosure - the last thing we need is Housing Bubble II created by another round of artificially low interest rates...

By the way - can you provide a link so we can see details of how this plan would actually work?
That is the problem with the government trying to involve itself in the private business sector, they almost always screw it up. I can't wait to see the official US automobile, the new US Bank Seal, etc.. We are in for a bumpy ride.
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