Tag archives for budget cuts

HUD Hopes to Get Housing Counseling Funds Returned

In April of this year, Congress slashed $88 million in HUD nonprofit counseling funds for 2011. Fortunately, HUD had at least $10 million “left over” and unspent from 2010, and they used this to fund various programs and outreach efforts. However, HUD’s acting deputy assistant secretary for single family housing is now warning that failure to restore the cut funds Read full article »

Mortgage Interest Deduction Escapes Debt Compromise Unscathed

Although many politicians have been toying with the unpopular idea of eliminating the mortgage interest deduction that allows citizens to deduct their mortgage interest payments from their taxes, the deduction made it through the latest round of negotiations unscathed. Some lawmakers had hoped to cut this deduction as part of the debt ceiling compromise and had included language in an Read full article »

Analysts Fear Debt Ceiling Deal will Hurt the Recovering Housing Market

As politicians continue to battle over the national debt ceiling in the nation’s capitol , real estate analysts fear that the wrong deal could send the sluggishly recovering housing market into a tailspin. Director of the Corky McMillan Center for Real Estate Michael Lea believes that a short-term debt deal could mean that interest rates rise and, more problematically, consumer Read full article »

HAMP Survives First Round of Cuts, Two Other Programs Do Not

Republicans proposed cutting four foreclosure relief programs in their new budget (read this coverage here). After all was said and done, two programs ultimately got the axe (or at least are up for cutting so far). The FHA Refinance Program, which enabled underwater homeowners to refinance into a new FHA-insured mortgage as long as the lender wrote off at least Read full article »

2011 Budget Cutting Funds to California – The Only Question Remaining Is “How Much?”

The president’s proposed federal budget will cut deeply into California funding for energy assistance, neighborhood blight assistance and beach cleanup. However, that is just the starting point, fear many Californians who know that the GOP majority believes that it must cut much deeper into the budget than the current administration is willing to go. While some proposed cuts include axing Read full article »

The Politics of Real Estate

Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.

Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.

About Bryan Ellis

Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.

Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.

Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.