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.”
The National Mortgage Complaint Center says, “On the topic of the US Federal Government, mortgages, and failure, we have a gigantic problem in Florida, and the extreme US Southeast involving imported toxic Chinese drywall, and probably 200,000+ homes.”
According to the National Mortgage Complaint center, these homes typically turn into foreclosures, because of homeowner fears about health effects to themselves, or their children. “These fears are not unfounded. In a typical Florida home, or condominium, that contains toxic Chinese drywall, the electrical wires turn black, and copper tubes, or pipes also turn black, get pitted, and leak.”
The National Mortgage Complaint Center notes that in most cases Fannie Mae gets the house as a foreclosure, and often resells it to a new home buyer, with the only disclosure being As Is. “As soon as the Florida, or Gulf States foreclosure buyer discovers the home contains toxic Chinese drywall, the home becomes a foreclosure all over again.”
For more information visit http://ChineseDrywallComplaintCenter.Com.
