Hidden mortgage fee paying for payroll tax cut

CBS News ^ | February 6, 2012 | Sharyl Attkisson

[Eric in the Ozarks]

Fire him.

[LibFreeUSA]

DEC 23, 2011 - Allen West:

“I cannot support this, but it seems the politics of demagoguery have won over policy and principle with the concession to enact tax policy on two-month basis,” West wrote. “This is a sad day for America and further evidences our continuing decline. Men and women of principle are become a dying breed in this Republic.”

West went on to criticize a conference call held by House Republican leadership Friday in which the deal, in which Republican agreed to pass the two-month extension of the tax cuts in exchange for a promise to appoint conferees to strike a year-long deal by Senate Majority Leader Harry Reid (D-Nev.).

“The conference lasted less than 15 minutes and we were not allowed to ask questions,” West wrote. “We were told that by unanimous consent the House will pass the Senate Amendment with a correction to the new payroll reporting procedures. Harry Reid agreed to appoint conferees but we were not told any timeline for this move.”

[lacrew]

“An Obama administration official defended the mortgage fee, calling it “modest.”

Fifteen dollars a month is not modest. I deal in a world that forecasts budgets for street improvements, which ultimately become ‘special assessments’. To me, fifteen dollars is a big increment. In general, this means a person’s pay has to be an additional $60 a month to be able to pay this fee...or $0.35 an hour.

It seems minor, but it isn’t. So what happens? Johnny homebuyer buys a house that costs $10,000 less...amazing, when the federal government takes money, it isn’t from thin air - its from the local economy.

[lacrew]

“An Obama administration official defended the mortgage fee, calling it “modest.”

Fifteen dollars a month is not modest. I deal in a world that forecasts budgets for street improvements, which ultimately become ‘special assessments’. To me, fifteen dollars is a big increment. In general, this means a person’s pay has to be an additional $60 a month to be able to pay this fee...or $0.35 an hour.

It seems minor, but it isn’t. So what happens? Johnny homebuyer buys a house that costs $10,000 less...amazing, when the federal government takes money, it isn’t from thin air - its from the local economy.

[LibFreeUSA]

Someone should ‘primary’ this guy. He is nothing but a career politician out for his own power over people, and screw everyone else. What a waste! I would trade a Democrat beating him in the election in return for getting him out of the Leadership position. He is hurting our side more than one single Democrat vote could hurt us.

[opentalk]

Sharyl Attkisson is one of the few investigative reporters in MSM . She exposed Fast and Furious.

[MrB]

If the mortgage fee is hidden, that means that we can’t deduct it, either.

[mtrott]

OK, so folks who have saved up their money to put down on a house now will have to pay more per month so as to help bail out underwater homeowners who may have put little or no money down when they originally bought their homes? Yep, that is the democrat/Obama way of buying votes, with other people’s money. Screw the people who are responsibly purchasing homes under today’s more appropriate underwriting standards.

[Qbert]

"One congressman, Florida Republican Allen West, said he tried to blow the whistle on the whole thing before Christmas.

"I read the legislation and raised the flag. Unfortunately nobody paid attention to what I was saying at the time," he said, calling the fee a backdoor tax increase on the middle class.

Once again, Rep. Allen West leads the way while the others sleepwalk.

[lacrew]

“If the mortgage fee is hidden, that means that we can’t deduct it, either.”

Interesting. The end of year paid interest statement would not match the rate you thought you had? More convoluting of paperwork and numbers, to make it nearly impossible to understand what kind of magic is going on behind the curtain.

[Eva]

I have to wonder if Alan West’s opposition to this hidden mortgage fee played a part in him being re-districted out of his seat by the Romney supporters in Florida.

They were probably telling the truth, that it had nothing to do with Romney, they just happen to be the same people.

[Prokopton]

CBS News went to Capitol Hill ask what Congress was thinking when they passed the mortgage fee hike. Boehner pointed the finger at the Senate.

Crybaby Boehner is a Democrat plant and the primary supporter and enabler of the Obama agenda. With "Republicans" like this, it makes little difference who the next president is.

[HereInTheHeartland]

Yep. My rates went up 1/4 one day to pay for this when it took effect. The cowards in DC slipped this in thinking no one would notice.

Rates have gotten better to the point where they are back where they were when this hit, but people are paying that 1/4% premium and probably don't know it.

[gnickgnack2]

Did this fee go on to all existing mortgages or just any newly created mortgages?

[gnickgnack2]

Did this fee go on to all existing mortgages or just any newly created mortgages?

[gnickgnack2]

Did this fee go on to all existing mortgages or just any newly created mortgages?

[WilliamEaton]

What a terrible idea. we need more transparency in taxes and fees - not less like this. This is probably a trial run of the long dreamed of financial transaction tax that gets the left all excited.

[LibFreeUSA]

Calm down. Only the poor suckers with new mortgages. If they had actually got the nerve to existing mortgages, this would have caused a real revolution (and not the ‘peaceful’ type). However, we’re not too far away from the bastards in DC (both parties) from trying to get away with that in the not too distant future.

Right now I am so pissed off at Boner for this collusion, that I am going to contribute to anyone who runs against this guy (and I don’t care what party it is).

Tell me ONE piece legislation that this Boehner can claim a victory for in becoming law, based on the strength of the 2010 election and not on weakness of caving in. Just ONE!

When push comes to shove the RATs know that they can push against this stooge and the rest of the Republican House Leadership and fully expect for them to cave like wet noodles. I blame the House Republicans for electing this piece of crap Speaker.

[Eric in the Ozarks]

Tom Harkin’s wet dream.