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American Dreams Mortgage

Ameriquest Mortgage, Not the American Dream!

Ameriquest taking on water , ship is sinking 1 2 3 4 5 6 ... Last Page www.msfraud.org Rust Consulting Ameriques Multistate Settlement - Delayed ...

Scrap the mortgage interest deduction

The deduction also robs the Treasury of tax revenue — a gaudy $70 billion a year. This is money that could be used to finance a simpler, more efficient tax code with lower rates. If the deduction remains intact, any attempt at reform will be limited in scope and value.

Middle-class homeowners may bridle at the idea of losing their biggest tax break. But most Americans get little or no benefit from the mortgage interest deduction. About 70 percent of filers can’t make use of it, because they don’t itemize their deductions.

Among those who do, the rich gain far more than the average person. “For households making above $200,000 a year, the average benefit is $1,784 a year in tax savings,” wrote Bruce Katz of the Brookings Institution in The Wall Street Journal. “For households earning $65,000 a year, the deduction generally yields less than $200 a year in tax savings.”

The most reasonable argument against scrapping it is that the change would probably cause a one-time decline in home values. For Americans currently priced out of the market, any reduction counts as a virtue, not a vice, because it would make housing more affordable. But Anthony Randazzo, director of economic research for the Reason Foundation, calculates that “the direct influence on pricing of homes should be minimal.

Couple says home builder's mortgage company cost them home

LITTLETON, Colo. -- A local couple is out nearly $10,000 in earnest money after they say a Richmond American Homes lender did not do their job.

Cristen and Robert Juarez started planning more than eight months ago for a new build in Littleton. They sold their home in April to prepare for the new home.

The couple is currently crammed into a relative’s basement.  Robert said, "It's been a journey for us. An emotional rollercoaster I guess you could say.”

Their two teenage daughters live across the city with their grandparents so the children can be close to their school.  Cristen said, “I just want my family back together.”

Back together after they say they were forced apart by their home mortgage lending company American Home Mortgage.   “They promised us a dream and then they took it right out from under us,”  the Juarez’s’ said.

Last February, real estate agent RaNae Rodriguez helped the couple find their dream home, a home being built by Richmond American Homes.

Is the American Dream causes mortgage crisis? 10 points for the best advice. Thank you?

I know there are various reasons that lead to the current mortgage crisis such as the banks, the loans, the economics, the government.


If the American dream is to do incredibly stupid things with your finances and credit, then you are probably right.

Banks and mortgage brokers were contributors, but in reality it was people's own greed and stupidity that was the main cause.

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