Bilbray

[aldante]

This is the response I just sent congressman Bilbray who responded to my “stop the bailout”

Congressman,
Thank you for honoring me with your response. If this response to my concerns is a “form letter” then at least I know that there are least several other Americans who believe your job is to protect our property. I certainly hope that is your understanding of your job. You after all have been given one of the greatest opportunities ever afforded a person in protecting America. This opportunity must come at quite a cost to you. That being said congressmen – my property is my responsibility.

If you do not vigorously oppose the government from using my property to pay for someone else’s ability to stay in a house with even one fraudulent mortgage – you are robbing me of my God given rights according to our Constitution. If you can sustain an argument how a Government bailout will not artificially keep home prices inflated I will have an open mind. The Government is helping people who through fraud or outright lies took possession of property which they could not afford. If they could not afford it then what make you believe they can afford it now?

Have you seen the incidence of people who have completely destroyed the homes once they were foreclosed? Is that the type of person that I am “helping”

Congressman, are you so sure that the people “losing their homes” have not made hundreds of thousand of dollars or even millions by flipping their homes in the past?

Congressman can you tell me for sure that these people become homeless? I myself have rented a house since my divorce 4 years ago. I do not consider myself homeless.

Congressman – I paid over 40k in taxes last year. That would help with a nice down payment for my family. Tell me again why that money is paying for someone else’s mortgage. Some one who may have 5 times that amount from prior “house flipping”. Please tell me. You said it yourself….94% of mortgages are not in trouble.

When that house appreciates and is sold for a profit will they pay me back my taxes? Do I get a cut?

I must confess I know that you can not in good conscious answer these questions. I have the strange feeling that you may truly not know who the beneficiaries are of our proposed actions. Stanley O’Neal with his $160 million, Charles Prince, Mozillo($82 million) Why do these men and the many who supported them walk away? In 2006 the average bonus at Goldman Sachs was $102,000. Guess what Goldman Sachs invented? If you did not know it was new derivative products on mortgage backed securities. The ones they bet against in 2007. How about the billions of dollars at the homebuilders and the banks that supported them. Where is that money congressman?

If you are telling me that I need to bail out the banks then tell me that. See if the American people will support that and if you can get reelected. In my business a purposeful blind eye is a criminal act. Is it in your business?

Please so not abrogate your duty to remember who is responsible for their property. Do not ask the pedestrian, who was hit by the car driver on the sidewalk, to pay for the car drivers auto body bill.

I stand and pay my taxes – as expected. I expect you to protect my right to my property.

Please do not waste my time your time or the time of your staff with a form letter. However if you want to answer any of my questions via email or in person I am open to that. I will become an ardent campaign supporter if you can convince me why you should not be completely opposed to any plan that uses my property to buy another an appreciating asset.

Thank you,

Comments welcome…………

[Aecetia]

President Bush is speaking now in St. Louis about his “checks in the mail” plan to stimulate the economy. His nervous laugh is evident. He understands our pain. The key to the housing market is for the market to adjust because we built too many houses. Yikes. This is not helping.

[Aecetia]

President Bush is speaking now in St. Louis about his “checks in the mail” plan to stimulate the economy. His nervous laugh is evident. He understands our pain. The key to the housing market is for the market to adjust because we built too many houses. Yikes. This is not helping.

[Aecetia]

President Bush is speaking now in St. Louis about his “checks in the mail” plan to stimulate the economy. His nervous laugh is evident. He understands our pain. The key to the housing market is for the market to adjust because we built too many houses. Yikes. This is not helping.

[Aecetia]

President Bush is speaking now in St. Louis about his “checks in the mail” plan to stimulate the economy. His nervous laugh is evident. He understands our pain. The key to the housing market is for the market to adjust because we built too many houses. Yikes. This is not helping.

[Aecetia]

President Bush is speaking now in St. Louis about his “checks in the mail” plan to stimulate the economy. His nervous laugh is evident. He understands our pain. The key to the housing market is for the market to adjust because we built too many houses. Yikes. This is not helping.

[Portlock]

I’ll post the form letter I got as a reply from Bilbray. In a nutshell it says:

1. The subprime loan and new mortgage products offered
over the last 10 years were a good thing because
they gave more people the opportunity to achieve
the American dream.

2. This practice should be continued.

3. We all need to pitch in help people who can’t
afford their mortgages and prevent foreclosure.

4. I’m gonna try to make it easier for people to draw
upon their retirement money to pay their bills now.

Here’s the form letter:

Thank you for taking the time to contact me regarding the nation’s current housing situation. I appreciate hearing from you on this important issue.

Home ownership has always been a central tenet of the American dream and the economic booms of the 1990’s and the 2000’s have opened that dream up to more American families than ever before. Unfortunately, increasing numbers of Americans are finding themselves unable to meet rising mortgage costs, particularly those with adjustable mortgage rates and are heading toward foreclosure. While it is important to remember that over 94% percent of home mortgages are not delinquent or in the process of foreclosure, according to the National Delinquency Survey, the prospect of losing a home is devastating..

Government can, find ways to help responsible Americans continue to afford homes and help those heading toward foreclosure access money they need in order to avoid it. To achieve this first principle I have cosponsored H.R.5670, which would create a $10,000 tax credit that will expire after twelve months for the purchase of a home. To avoid abuse, this credit can only be used once, can only be used for primary residences and is only applicable to homes that meet Government Sponsored Enterprise’s conforming loan limits prior to the economic stimulus package. To address the second principle, I have cosponsored H.R. 5641, the IRA Assistance Act. This bill would allow individuals to take a loan of up to $50,000 from a traditional IRA plan for economic hardship reasons without having to pay a 10 percent penalty if the loan is repaid within five years. This would bring traditional IRAs into line with what is already possible with 401(k) plans. Currently, 30 million Americans contribute to IRAs and the passage of this bill would enable them to draw from their IRAs in order to avoid foreclosure. Together these bills will enable the dream of home ownership to be both maintained and expanded without costing taxpayers additional money.

Again, thank you for contacting me. If you have further questions, please call me or my office at (202) 225-0508.

Sincerely,
Brian Bilbray
Member of Congress

[Portlock]

I’ll post the form letter I got as a reply from Bilbray. In a nutshell it says:

1. The subprime loan and new mortgage products offered
over the last 10 years were a good thing because
they gave more people the opportunity to achieve
the American dream.

2. This practice should be continued.

3. We all need to pitch in help people who can’t
afford their mortgages and prevent foreclosure.

4. I’m gonna try to make it easier for people to draw
upon their retirement money to pay their bills now.

Here’s the form letter:

Thank you for taking the time to contact me regarding the nation’s current housing situation. I appreciate hearing from you on this important issue.

Home ownership has always been a central tenet of the American dream and the economic booms of the 1990’s and the 2000’s have opened that dream up to more American families than ever before. Unfortunately, increasing numbers of Americans are finding themselves unable to meet rising mortgage costs, particularly those with adjustable mortgage rates and are heading toward foreclosure. While it is important to remember that over 94% percent of home mortgages are not delinquent or in the process of foreclosure, according to the National Delinquency Survey, the prospect of losing a home is devastating..

Government can, find ways to help responsible Americans continue to afford homes and help those heading toward foreclosure access money they need in order to avoid it. To achieve this first principle I have cosponsored H.R.5670, which would create a $10,000 tax credit that will expire after twelve months for the purchase of a home. To avoid abuse, this credit can only be used once, can only be used for primary residences and is only applicable to homes that meet Government Sponsored Enterprise’s conforming loan limits prior to the economic stimulus package. To address the second principle, I have cosponsored H.R. 5641, the IRA Assistance Act. This bill would allow individuals to take a loan of up to $50,000 from a traditional IRA plan for economic hardship reasons without having to pay a 10 percent penalty if the loan is repaid within five years. This would bring traditional IRAs into line with what is already possible with 401(k) plans. Currently, 30 million Americans contribute to IRAs and the passage of this bill would enable them to draw from their IRAs in order to avoid foreclosure. Together these bills will enable the dream of home ownership to be both maintained and expanded without costing taxpayers additional money.

Again, thank you for contacting me. If you have further questions, please call me or my office at (202) 225-0508.

Sincerely,
Brian Bilbray
Member of Congress

[Portlock]

I’ll post the form letter I got as a reply from Bilbray. In a nutshell it says:

1. The subprime loan and new mortgage products offered
over the last 10 years were a good thing because
they gave more people the opportunity to achieve
the American dream.

2. This practice should be continued.

3. We all need to pitch in help people who can’t
afford their mortgages and prevent foreclosure.

4. I’m gonna try to make it easier for people to draw
upon their retirement money to pay their bills now.

Here’s the form letter:

Thank you for taking the time to contact me regarding the nation’s current housing situation. I appreciate hearing from you on this important issue.

Home ownership has always been a central tenet of the American dream and the economic booms of the 1990’s and the 2000’s have opened that dream up to more American families than ever before. Unfortunately, increasing numbers of Americans are finding themselves unable to meet rising mortgage costs, particularly those with adjustable mortgage rates and are heading toward foreclosure. While it is important to remember that over 94% percent of home mortgages are not delinquent or in the process of foreclosure, according to the National Delinquency Survey, the prospect of losing a home is devastating..

Government can, find ways to help responsible Americans continue to afford homes and help those heading toward foreclosure access money they need in order to avoid it. To achieve this first principle I have cosponsored H.R.5670, which would create a $10,000 tax credit that will expire after twelve months for the purchase of a home. To avoid abuse, this credit can only be used once, can only be used for primary residences and is only applicable to homes that meet Government Sponsored Enterprise’s conforming loan limits prior to the economic stimulus package. To address the second principle, I have cosponsored H.R. 5641, the IRA Assistance Act. This bill would allow individuals to take a loan of up to $50,000 from a traditional IRA plan for economic hardship reasons without having to pay a 10 percent penalty if the loan is repaid within five years. This would bring traditional IRAs into line with what is already possible with 401(k) plans. Currently, 30 million Americans contribute to IRAs and the passage of this bill would enable them to draw from their IRAs in order to avoid foreclosure. Together these bills will enable the dream of home ownership to be both maintained and expanded without costing taxpayers additional money.

Again, thank you for contacting me. If you have further questions, please call me or my office at (202) 225-0508.

Sincerely,
Brian Bilbray
Member of Congress

[Portlock]

I’ll post the form letter I got as a reply from Bilbray. In a nutshell it says:

1. The subprime loan and new mortgage products offered
over the last 10 years were a good thing because
they gave more people the opportunity to achieve
the American dream.

2. This practice should be continued.

3. We all need to pitch in help people who can’t
afford their mortgages and prevent foreclosure.

4. I’m gonna try to make it easier for people to draw
upon their retirement money to pay their bills now.

Here’s the form letter:

Thank you for taking the time to contact me regarding the nation’s current housing situation. I appreciate hearing from you on this important issue.

Home ownership has always been a central tenet of the American dream and the economic booms of the 1990’s and the 2000’s have opened that dream up to more American families than ever before. Unfortunately, increasing numbers of Americans are finding themselves unable to meet rising mortgage costs, particularly those with adjustable mortgage rates and are heading toward foreclosure. While it is important to remember that over 94% percent of home mortgages are not delinquent or in the process of foreclosure, according to the National Delinquency Survey, the prospect of losing a home is devastating..

Government can, find ways to help responsible Americans continue to afford homes and help those heading toward foreclosure access money they need in order to avoid it. To achieve this first principle I have cosponsored H.R.5670, which would create a $10,000 tax credit that will expire after twelve months for the purchase of a home. To avoid abuse, this credit can only be used once, can only be used for primary residences and is only applicable to homes that meet Government Sponsored Enterprise’s conforming loan limits prior to the economic stimulus package. To address the second principle, I have cosponsored H.R. 5641, the IRA Assistance Act. This bill would allow individuals to take a loan of up to $50,000 from a traditional IRA plan for economic hardship reasons without having to pay a 10 percent penalty if the loan is repaid within five years. This would bring traditional IRAs into line with what is already possible with 401(k) plans. Currently, 30 million Americans contribute to IRAs and the passage of this bill would enable them to draw from their IRAs in order to avoid foreclosure. Together these bills will enable the dream of home ownership to be both maintained and expanded without costing taxpayers additional money.

Again, thank you for contacting me. If you have further questions, please call me or my office at (202) 225-0508.

Sincerely,
Brian Bilbray
Member of Congress

[Portlock]

I’ll post the form letter I got as a reply from Bilbray. In a nutshell it says:

1. The subprime loan and new mortgage products offered
over the last 10 years were a good thing because
they gave more people the opportunity to achieve
the American dream.

2. This practice should be continued.

3. We all need to pitch in help people who can’t
afford their mortgages and prevent foreclosure.

4. I’m gonna try to make it easier for people to draw
upon their retirement money to pay their bills now.

Here’s the form letter:

Thank you for taking the time to contact me regarding the nation’s current housing situation. I appreciate hearing from you on this important issue.

Home ownership has always been a central tenet of the American dream and the economic booms of the 1990’s and the 2000’s have opened that dream up to more American families than ever before. Unfortunately, increasing numbers of Americans are finding themselves unable to meet rising mortgage costs, particularly those with adjustable mortgage rates and are heading toward foreclosure. While it is important to remember that over 94% percent of home mortgages are not delinquent or in the process of foreclosure, according to the National Delinquency Survey, the prospect of losing a home is devastating..

Government can, find ways to help responsible Americans continue to afford homes and help those heading toward foreclosure access money they need in order to avoid it. To achieve this first principle I have cosponsored H.R.5670, which would create a $10,000 tax credit that will expire after twelve months for the purchase of a home. To avoid abuse, this credit can only be used once, can only be used for primary residences and is only applicable to homes that meet Government Sponsored Enterprise’s conforming loan limits prior to the economic stimulus package. To address the second principle, I have cosponsored H.R. 5641, the IRA Assistance Act. This bill would allow individuals to take a loan of up to $50,000 from a traditional IRA plan for economic hardship reasons without having to pay a 10 percent penalty if the loan is repaid within five years. This would bring traditional IRAs into line with what is already possible with 401(k) plans. Currently, 30 million Americans contribute to IRAs and the passage of this bill would enable them to draw from their IRAs in order to avoid foreclosure. Together these bills will enable the dream of home ownership to be both maintained and expanded without costing taxpayers additional money.

Again, thank you for contacting me. If you have further questions, please call me or my office at (202) 225-0508.

Sincerely,
Brian Bilbray
Member of Congress

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