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I am wondering when will the 1099 rule change? How does it work and how can I avoid having to count my loss as income?
Nice change of approach guys.
Two comments guys:
1. Bill McMachen’s purchase makes me sick. The county took the expedient way out, and dumped them. Many properties would have brought much more, some were dumps just waiting to be bulldozed. However, this type of mass purchase doesn’t bode well for the mid-size investor, and heaps more undeserved gravy on the guy with the big bucks. Just because he HAS the big bucks, and the municipality doesn’t want the hassle of possible \leftovers.\ May well be a disaster in the making. Interesting to see how it comes out. Guy says good things, but is not a RE guy….but time tells all.
2. What’s with the subdued dress and calm, studious, monotone? Seriously, don’t let the SOB’s who don’t like a little humor with their morning RE/Financial Pablum get you down. Your humor makes all the crap much easier to digest.
Where are the videos, pictures and comments from the 6th, 7th and 8th of this week?
Hopefully Dodd/ Frank (The Village Idiots) will go away when Obama leaves office.
The Michigan yacht dealer bought the property taxes subject to any other lien on the property. Tax lien does not wipe out other liens. IF there is a note holder, they will typically pay the taxes and assess the owner or foreclose. If the houses went to tax sale there was likely no other lien….however the houses may be worthless…
Add in that even during this drought farmers are being outbid by fracking corporations for water rights.
It’s called inverted totalitarianism where the cost effective (in terms of corruption) outweighs basic human rights and it originates with the banksters. It’s a coup.
Now they want QE3 so they can raid more of our collective treasure. They want to throw more money at the corrupt kleptocrats that control our system. That money never reaches it’s intended recipients. The government wants us to give up hope of any real change and they are going to take silence as aquiescence.
Agree with the posts regarding the CORPORATION. It still feels like we are in a recession but many of our largest companies have had their biggest profits ever in 2011. How to create big profits, cut expenses by cutting jobs and cutting spending. Most companies are also sitting on the largest piles of cash ever. Unfortunately, I don’t thing putting another party in change much.
Question to all my fellow Mortgage & Realtor Professionals??? Do we all think that there is something more to the fact that FHA MIP is now up to 1.15-1.25% as well as a 1.75% increase UFMIP while rates are at a historical low again. Do we think for maybe even a minute that this was internally forecasted earlier last year and the Big Boys said “What a minute how do we bleed them dry and take advantage of all of this?” I think FHA realized that if they are going to allow home owners to have such low rates they need to take a piece of the pie! Profits are are in the billions but yet they are charging a 1.15-1.25% MIP??? HMMMM… Time to show the public… Time for the militia let’s go where we can be heard and seen for all of the lower class and whats left of the middle class… “Target Super Stores”!!!
You didn’t see why they increased the MIP and the UFMIP? HUD is combating “Homelessness”. Just another part of the Communistic Agenda of the current administration. Let’s tax home buyers to help pay for housing for those who are homeless……. great idea, NOT!.
Just like adding 10 BPS to interest rates to pay for yet another unemployment compensation extention.
Why should the borrowers pay for that?
You didn’t hear that in the news, did you?
The Government is the biggest obstacle to recovery. People want to work and people want to buy homes. However, jobs, loans, and homes are all in short supply.
REORealtor–It’s all about the corporation? You speak of harsh government regulations then complain about corporations… I don’t get that? Choose one to blame! (although, arguably, they are BOTH to blame) Mainly I feel the government doesn’t feel the effects of unintended consequences (Dodd-Frank, anyone?) That regulation was meant to reel in financial companies (a/k/a the evil “Wall Street”) but ended up virtually killing our industry, as well as small banks, as well as… the list grows! But yes, we are resilient; Americans are resilient. (insert repeated “USA” cheers here)
Regardless, thanks for the positive ray of sunshine today guys; happy Friday!
(and am I the only one that has to ‘refresh’ the ReCAPTHA words about 6 times before I can find one I can read???)
There are no ‘unintended consequences’. The banksters basically ‘own’ every member of congress and the president. As long as a plausible smoke screen can be created to sell to the public and the media (which they own as well), they ‘run the play’. Both the banksters and the corrupt government officials they lobby (bribe), are quite aware of the end result – it’s planned that way.
The banksters wanted to kill off their competition (the smaller banks, mortgage brokers, etc.), so they used the financial meltdown (which they, of course, created) to create the public impression that something ‘had to be done’ and used that to pay off Dodd-Frank and Cuomo (to create HVCC). That has worked for them quite nicely – mortgage brokers now have declined from 50%+ market share to under 10%. Consumers pay higher rates and fees and appraisal fraud has increased under HVCC (with the banksters essentially exempt from HVCC).
The same is going on with the food industry. The heavy regulations recently put on small farmers has put many out of business and the same is with the mortgage and appraisal industry. It’s all about the corporation. We are not run by our government we are run by the corporate puppeteers. The choice of politicians comes down to which one has less of a hand up their tush.
Our industry is being regulated to death by the Disaster-in-Chief and I sincerely hope President Romney can get Dudd-Frank overturned as quickly as possible. Next is appraisal reform and the dismantling of the AMCs that have done nothing to fix the industry. Instead, it’s costing consumers up to 100% more for appraisals and, before we know it, there will be too few appraisers remaining because they are earning too little to make a decent living. The greedy AMCs are making most of the money and it’s disgusting.
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