Beware: Tax Consequences in Housing Assistance Act

That delicious vacation home tax break is about to end thanks to an over zealous Congress and the Housing Rescue Bill…

As more facts are emerging about the Housing Rescue Bill, better known as the Housing Assistance Act of 2008, there is some disturbing evidence it’s not all lollipops and roses.What are the tax consequences?According to Eve Rosenberg who writes in an info-packed expose’ for Market Watch, that delicious vacation home capital gains-tax exclusion is about to end.The rules will suddenly change on January 1. 2009.That means if you’re planning to sell your vacation home to take advantage of the tax break, you’d better get on with it before the new IRS rules from the Housing Rescue Act take effect.Read Hidden tax traps in the House-Rescue-Bill

Foreclosure Bill’s Fallout Begins

The fallout over the Foreclosure Bill Rescue Package continues.

The warnings are loud, shrill and being largely ignored by an anxious public and jittery Congress that only wants to re re-elected. Read how your children will pay…

Foreclosure Bill will Drain Americans' PocketsThe fallout over the Foreclosure Bill Rescue Package continues.

 

The warnings are loud, shrill and being largely ignored by an anxious public and jittery Congress that only wants to be re-elected.

 

But today’s intervention will have a high price to be paid in the future.

 

Why should we be propping up Freddie  and Fannie  anyway?

 

Why won’t our government allow the markets to correct themselves?

 

Prediction: There will be much more pain down the road.

 

However, as always, the savvy real estate investor can find more ways to make money in spite of government gaffs or even because of such disasters as the Foreclosure Bill.

 

Read  Fannie Mae and Freddie Mac: Congress Backs Rescue Package

Dr. Housing Bubble Raises Vital Questions about Foreclosure Bill

Dr. Housing Bubble continues yesterday’s discussion about the new Foreclosure Bill now being passed by a jittery Congress.

 

Is Chicken Little right about the Foreclosure Bill?He makes the interesting observation about the cost cutting estimates which Congress is probably incorrectly stating will be around $25 billion.

 

“Yet what seems to be more astonishing is the vast majority of Americans seem oblivious to the entire bill.”

 

Amen, Dr. Housing Bubble.

 

Kind of reminds us of that song  from West Side Story with the lyric “everything’s free in Amer-i-ca.”

 

Well, almost, right?

 

Go to Dr. Housing Bubble’s blog and read what he’s thinking.  Also, don’t forget his  recent comment section which is also  very juicy.

 

Read more of Dr. Housing Bubble’s opinion of the Foreclosure Bill.

More from the Net

Housing Foreclosure Bill HR-3221 (Housing Bailout) Passed

 

American Housing Rescue and Foreclosure Prevention Act is an Almost Done Deal

The Foreclosure Act  Is Only a Band AidCongress is throwing money at the housing crisis with the  new American Housing Rescue and Foreclosure Prevention Act of  2008.

 

Will it help?

 

Probably not, because it doesn’t address the real cause.  Greed.

It only puts a very expensive band aid on a symptom or two.

 

Yes, there have been many problems with the last boom market.  Too many.

 

But I still say many people got caught up in the hype and didn’t do their due diligence. 

 

Folks, you’d better know what you’re doing before you sign a mortgage.

 

But is it my responsibility as a taxpayer to bail them all out?

 

No.

 

There’s an interesting coded message in Senator Barney Frank’s comments which I think is not just election talking head rhetoric.

 

“By expanding homeownership opportunities and protecting families against foreclosure, we are helping keep the American dream of owning a home alive,” he says.

 

Is he saying what I think he’s saying?

 

That owning a home is an American right?

 

Read more about the Housing Rescue and Foreclosure Prevention Act.

Pelosi: ‘Housing Bill Most Far-Reaching Reform of Our Nation’s Federal Housing System in a Generation’

More from the Net

Lucas Opposes Foreclosure Prevention Act

Credit Card Transactions to be Reported to the IRS – in Foreclose … .
American Housing Rescue and Foreclosure Prevention Act – Or, The …

Havahart’s Critter Ridder Will Really Repel Irritating Animals

I’m not exactly sure how it works and I don’t care. I just know Critter Ridder works for me, but I think it’s the active ingredient of Oil of Black Pepper. Also, Havahart claims it’s good for organic gardening. Dog walkers and their best friends have been running to get out of my Critter Ridder zone.

Critter Ridder will really repel irritating dogs and cats

Havahart Critter Ridder that you can buy at Lowe’s will really repel dogs and cats, among other irritating animals.

 

I’ve waited almost two months to give you this exciting news because I wanted to try it out for myself to make sure.  And yes, I think it’s a winner.

 

We all have our critter problems, and mine was neighborhood dogs using my front terrace  just outside my hedge as a public restroom.  It makes me mad when dog walkers allow their best friends to leave deposits of you know what near my mailbox and my precious hedge, that I prize so much.

Continue reading “Havahart’s Critter Ridder Will Really Repel Irritating Animals”