The National Mortgage Complaint Center is warning of further US residential real estate valuation declines, based on new information related to US foreclosures. The group worries if the US residential real estate markets do not soon stop their declines, a second recession might be a optimistic thing. The group has called President Obama’s, or former House Speaker Pelosi’s attempts to help homeowners in foreclosures, or loan modifications, an utter failure, and a waste of taxpayer money. The group says, “We desperately need to stabilize the US residential real estate markets, and we think restoring the Federal Tax Credit for a home purchase would a huge step in the right direction. However, this time the Congressional Federal Tax Credit should be increased to $15,000, and it should be inclusive of not just first time home buyers, it should apply to every qualified home buyer, including investors.” The National Mortgage Complaint Center says, “With the enormous devaluations we have seen in most US residential markets, we need to stop the hemorrhaging, and do something meaningful to stabilize one of the most vital aspects to the US economy-our residential real estate markets.”
The National Mortgage Complaint Center is urging US House of Representatives Speaker John Boehner to introduce immediate legislation that restores the Federal Tax Incentive Plan for home buyers. However, the group says, “the Federal Tax Incentive Home Purchase Program should not be limited to first time home buyers only. We believe a more robust federal tax incentive plan is called for, to include not just first time home buyers, but all qualified home buyers, including investors. Someone needs to step up to the plate to rescue the US residential real estate markets, and leadership is needed-now.”
The National Mortgage Complaint Center is now warning, “If someone in the federal government does not exert some leadership immediately, it might be too late for the US residential real estate markets, and our economy. We appreciate the concept of free enterprise, and or risk, and return is lost on President Obama, but someone in DC had better start thinking outside of the box now, or it could be too late to do anything about the sinking US residential real estate markets.” The National Mortgage Complaint Center is also warning, “Now would not be a time for the US Congress to allow President Obama, and former House Speaker Pelosi to make an Economic Social Statement, with another insane program that allows individuals not qualified to buy a home, to get one. Now is the time to let the free enterprise system work, for qualified buyers, with tax credits being the incentive for participation.” http://NationalMortgageComplaintCenter.Com