Dale Terry

This is not a blog to make the case for or against the current health care bills in the House or Senate. We all need more information from our elected officials and should try to gather as much information as we can to be able to make informed choices.

Under the house plan, there would be an additional costs to those that are married and have higher combined incomes. The cost for someone who is single making about 25k per year is 3k. If you combine your income when married, 50k, your costs would be 5k.

The bill is not marriage neutral. As with many bills, marriage or combining income would put millions of people over the restricted amount of income. This would cause them to not be able to receive earned income tax credits,welfare, food stamps or subsidized housing.

With all the problems we face in America, one of the single most factors for not being able to reach your life's potential is not having a traditional family unit. This legislation and legislation like it seems to promote by default the continuing deterioration of the family unit.

Other social costs that result are not included in the cost of the bill.

Make your own opinions.

Zillow has our nation's most prestigious address, 1600 Pennsylvania Ave, (the White House for those that don't know) valued at $291,386,000. This value has fallen for the past two years, possibly because of the economic depression we are in. Of course, I am not sure where Zillow gets its comparable properties since I am sure that there hasn't been any homes sold or even listed that are close to matching the White House. And we must not forget location. It is everything in real estate

And Zillow estimates that the monthly mortgage payment would be $1,232,547. Since the President was only a Senator making about $150,000 per year and was taking on a new job that would pay only $400,000, and his wife is not going to work, how would he get a loan? Do you think the CEO of Countrywide or one of the too big to fail Wall St. banks have a sweet heart deal for him? And if you say it is the governments house, then how can it get a loan if it spends more than it takes in?

Only in Washington my friends.

Barney Frank, Chairman of the Senate Finance committee doesn't want banks or insurance companies to lose any power even though they were the main contributors to our massive economic downfall. He is against taxing banks that were part of the mortgage mess and is against any legislation that would return our banking laws back to the post Glass Seagall era. If fact he will probably block all attempts to have bills brought to the committee. Wonder why?

Below are figures from the federal goverment required of all campaigns and elected officials. The numbers represent the amount of money that Frank has received since he has been in office. The published reports also state that Frank has never put in a single dime of his own money for his campaigns.

If it looks like it, smells like it, it probably is.

Barney Frank,

"Not everybody should own a home,"

Finally, somebody gets it. FHA Commissioner said today that not everybody should own a home after growing defaults have lower loan reserves. By being the lender of choice for millions of people, FHA has now become a small Fannie Mae. Lower down payment requirements and sub par credit are the reasons.

One would think that after the Fannie and Freddie debacles that someone would see this coming. Now at least FHA is taking steps to help with the problem. Soon credit scores below 580 will require 10% downpayment and FHA has increased it's upfront mortgage insurance payment for all borrowers.

This would normally spell trouble for the housing market, but previous tightening attempts have been met with adjusting credit scores at the bureau level. So I believe if the past is an indicator, we will see higher scores, then more people will qualify.

Banks lend money-if they don't they go out of business. FHA, Fannie and Freddie are facilitators insuring banks can offload their new loans. Credit Bureaus are owned by the banks and can be used to insure the most profits for banks. At last, our Congress will not do anything that makes sense and puts an end to the problem, they will only delay the outcome.