Your Questions About Mortgage Rates Colorado

Lizzie asks…

Will Republicans budge on tax hikes on the wealthy, now that most Americans support higher taxes?

June 9 Washington Post/ABC News poll found that 61 percent of people believe higher taxes will be necessary to reduce the deficit.

A June 7 Pew poll found strong support for tax increases to reduce the deficit; 67 percent of people favor raising the wage cap for Social Security taxes, 66 percent raising income tax rates on those making more than $250,000, and 62 percent favor limiting tax deductions for large corporations. A plurality of people would also limit the mortgage interest deduction.

A May 26 Lake Research poll of Colorado voters found that they support higher taxes on the rich to shore-up Social Security’s finances by a 44 percent to 25 percent margin.

A May 13 Bloomberg poll found that only one third of people believe it is possible to substantially reduce the budget deficit without higher taxes; two thirds do not.

A May 12 Ipsos/Reuters poll found that three-fifths of people would support higher taxes to reduce the deficit.

A May 4 Quinnipiac poll found that people favor raising taxes on those making more than $250,000 to reduce the deficit by a 69 percent to 28 percent margin.

admin answers:

How about this, if the Democrats would pass Medicare Reform we’ll pass Tax Hikes, Deal?

George asks…

Why is it that most liberals and democrats fail to comprehend this simple concept?

It seems that most democrats like to play class warfare game usually it is attacking the rich. 1.Here is what I don’t understand most of us aspire to be wealthy. 2. I have worked all my life I have never gotten one job offer from a middle class or a poor person. 3 When the wealthy are burden with more government taxes in order to maintain their wealth they have 2 options raise prices (inflation) or if unable to do so, cut workers and jobs.

How does this help the poor or the middle class? it might make you feel good but will feeling good pay your mortgage, for those that have difficulty understanding this concept please explain why…… one caveat the states with the highest tax burden NY California, NJ, Michigan are running deficits and losing population states such as Texas,Colorado Florida have low tax rate yet their economy is thriving why is that?
Wow!! got some great answers i see that marxism and socialism is still alive and strong in this nation. I just pray that these people do not get their wish of a socialist utopia where everyone is average and this becomes just a average lathargic nation.

admin answers:

They do not get it and they never will. Cause and effect is just not the strong suit of most of the liberals I have encountered in life. It has been my experience that most liberals respond and react based on emotion. In order to feed those emotions there must be a villain and a victim. It is easy to see who is who. They believe to their core that the rich did not achieve their wealth by honest means and are therefore not entitled to all that they have. They also believe that the poor are poor because of the rich and through no fault of their own, or that of government. Since they have determined there is a villain it is okay to punish them. It is also okay to reward the poor because they are just innocent victims. Then there must be an arbiter to decide who should suffer the most and also who should benefit the most. This role is filled by government. It is class warfare to a tee. If they really believed in fairness in the system then all would be advocating that all should be taxed at the same percentage regardless of income and that all subsidies and loopholes should be removed. The rich would still pay more, the middle class would shoulder a medium share and of course the poor a very low percentage. It is not about fairness though. At it’s core it’s about control and any liberal who denies this fact is either in denial or an outright prevaricator.

Edit: Want a great example. Check out the answer below mine, it is a perfect example. The rich are responsible for all ills. They are not entitled to what they have and it is their duty to do with less so others can prosper. Claim of being Republican not withstanding, this is a great example of redistribution theory and the guises under which is applied.

Betty asks…

Any way to benefit from rent to own or owner financed?

My boyfriend and I bought a house 2 years ago (3 years in October) and we both lost our jobs and we can’t afford to live there anymore. We are currently renting it out. Also we have it on the market with a realtor till May. This realtor really hasn’t done ANYTHING to sell our house I hardly see ads in the newspaper. It’s a 2/1 with a big backyard new fence all wood floors almost 800 sq ft. We’re trying to sell it for $52,500. We still have the 30 year mortgage. We’ve had about 2 or 3 people interested if they could do the rent to own… but we have that mortgage. We want to move to Colorado and buy some land. Is there anyway this could work out?(with out screwing us over) Also I wouldn’t want to do a rent to own I guess it would be more like owner financed? How would it work like would we get a % like an interest rate? Should I go to a lawyer to ask them? I’ve never done this before and I’m young help please!

admin answers:

I will help you do a rent to own. IF you knew of any person/client who wanted to do that, that could solve your problem…….but that would not enable you to buy land elsewhere.

I can help you -guide you ; no cost

Linda asks…

Do you think the truth behind the bailouts?

are to help illegals keep homes they should not be allowed to purchase in the first place? Do you agree with Tom Tancredo on this issue? I do and illegals should lose everything!

Bailout Could Help Illegal Immigrants
Mon, 09/29/2008 – 11:17 — Judicial Watch Blog

The massive government bailout of the nation’s financial system could help thousands of illegal immigrants who obtained home loans from banks that were encouraged to offer them by the federal agency in charge of preserving and promoting public confidence in the system.

The controversial $700 billion bailout will offer foreclosure relief for those at risk of losing their homes and that includes thousands of illegal immigrants who got mortgages from U.S. financial institutions thanks to a push from Federal Deposit Insurance Corporation (FDIC), which began encouraging banks to offer services to illegal immigrants a few years ago.

Headquartered in Washington D.C., The FDIC insures more than $3 trillion of deposits in U.S. banks and is managed by a five-person board of directors appointed by the President of the United States and confirmed by the Senate. In the last few years the agency succeeded in getting several large lending institutions to offer a variety of banking services to illegal aliens, including home loans.

Now U.S. banks routinely offer services to people without Social Security numbers by accepting the Mexican identification called matricula consular to open accounts. Some states—like Illinois and Wisconsin—even used millions of dollars in public funds to provide low-interest home loans for illegal immigrants with no credit history or documentation in the U.S.

The loan default rate among illegal immigrants is high because they are inherently unreliable, are prone to fraud and may be forced by circumstances to return to their home nation at any point, according to a congressman representing a state that operated a large mortgage fraud ring featuring hundreds of unqualified borrowers that used fake identities to get money.

The veteran Colorado Representative, Tom Tancredo, wants to assure that the bailout, set to pass this week, doesn’t offer incentives for illegal aliens. In a letter to his colleagues in Congress, Tancredo asked that safeguards be included on the bailout plan to verify the legal residency and identity of potential homebuyers. This will prevent illegal immigrants from obtaining federally backed home loans and assure that U.S. taxpayers are not absorbing their debts or bad loans made by banks to illegal aliens.

Could it be a coincidence that the area’s hardest hit by home foreclosures happen to be illegal immigrant sanctuaries like Las Vegas, large parts of southern and northern California and the famous Arizona sanctuary of Phoenix?

source – alipac

frag, once again you come up with lame excuses on illegals side, No matter what, illegals should not be allowed to own homes, point blank! they should receive no help. Yes the citizens should get help to save their homes, put illegals out of those houses and back where they belong.
greasy – what do you think your posts from the racists pro-illegal sites are? little bit hypocritical aren’t you!
what ever, i am not – I gonna start another riot, but thanks for the compliment, I like what she has to say!!
legal immigrants are welcome to buy homes, illegals are lawbreakers and deserve nothing but punishment and deportation!

admin answers:

Im sorry, but I have to say, what the Freak Tony????? You are telling us that a majority of the loans that illegals defaulted on are due to the fact that effective workplace raids make them afraid and they just up and leave without regards to their finances( mortgages)… OK…. Your really reaching for sympathy today… What you are really saying that it is the governments fault that car thieves are afraid to drive around in stolen cars… Well no Shite… I am not going to sit here and debate the fact that government let us down by giving illegals the right to own prop by making lending requirements that much easier… I am just going to question the sanity of people with questionable status… So there it is 50/50 blame all the way around. I blame 50 % on the banks that folded under gov pressure to provide equal housing opportunities for all, and 50% on the idiot that said “I am breaking the law( being here illegally) but I am going to stick all my money into a house that I am not sure how long I will be able to stay”:….How much sense does that make to you.. That’s like installing a pool in a rental property…. Use your head…..

Mary asks…

Own rental properties. Needing to generate cash to purge old credit debt. Good time to refinance?

I own my personal home, plus two rentals. Here in Colorado, thanks to the energy boom, rent is through the roof. Even with mortgages on both rentals, I still cash flow pretty well. My problem:

I have roughly $40,000 in credit debt, student loans, etc…

Would it be a good time to take a $40,000 draw on a refinance on one of the rentals? I haven’t kept a good eye on trends or interest rates. However, both rentals have long term leases, hence, continued income.

admin answers:

Are you kidding-of course load up the rentals as the payments will off set the rents and you pay less in taxes what are you waiting for.
I am a mortgage banker in TN & KY

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