I wanted to pass along that there is an organization called the Senior Citizen League who have been sending out a warning that there will not be a Social Security cost-of-living (COLA) for 2010. This is a fact, the Obama administration has announced there will be no COLA for 2010 and might not be a COLA for 2011 and 2012 as well. This group is soliciting donations to be a lobby for senior citizens. This group has not contacted any one in Congress, so I feel this group is just looking for your money and is not an effective lobby. The source of this data is Congresswoman Ginny Brown-Waite, Fifth Congressional District. I would also recommend you contact her about any matters effecting your benefits. Remember there is always people out there looking to make a buck anyway they can. Don't be a victim.

I don't know if you saw the Chronicle article the other day which quote Coastal Living magazine's top ten spots for snorkeling. Crystal River was the number three spot behind only the Bahamas Dean's Blue Hole and Buck Island, St Croix U.S. Virgin Islands. This really gives our county a something to boast about. Part of the big draw was the possible encounters with the West Indian Manatee.
Hope you are all enjoying a great summer and have had a chance for some vacation time.

As you know the Florida Legislature is currently in session. Well there a lot of bills flying around the house and the senate. Two of the big things I wanted to keep you informed about is the House bill HB 905 and the Senate bill SB 1906. which are designed to place a revenue cap on local governments. At the same time there is a citizens initiative effort operating as "Your Dollar, Your Decision" and it is being spearheaded by the National Federation of Independent Business (NFIB) If the House and Senate do not act this session the grass roots effort will move to get 68,000 signatures on a petition. For further information go to:
www.yourdollaryourdecision.com

The second effort has focued on the Save Our Homes recapture provision.
When faced with the question of what annual increase in assessed value to apply to homes assessed at less than just value, the Florida Department of Revenue generated a rule that provides that the annual increse will be lesser of three percent or CPI. Rule 12D-8.00622, Florida Adminstratyive Code, appliesthis assessment increase even when home prices are declining, as long as the home remains assessed at less than just value. This issue has generated several pieces of legislation for the 2009 session, including SB 304 & 464, and HB 1173.

The U.S. House approved legislation on Thursday that will allow bankruptcy judges to lengthen terms, cut interest rates and reduce the principal owed by bankrupt borrowers.

The so-called "cramdown" bill (the actual name of the bill is the "Helping Families Save Their Home Act") passed by a margin of 234-191. The legislation was modified to become more lender friendly; it requires borrowers to certify that they provided their lenders with financial information and gave them time to provide other alternatives.

Borrowers receiving a cramdown must reimburse their lender for a portion of the loss if they sell the property before they complete a five-year bankruptcy repayment plan.

House Republican Leader John Boehner of Ohio, who opposed the legislation, says it forces those who acted responsibly to �€œsubsidize scam artists, speculators and those who knowingly made bad decisions.�€�

The bill also permanently increases the Federal Deposit Insurance Corp.�€™s insurance on bank deposits to $250,000, gives loan servicers legal protection when they modify troubled loans, and retools the Hope for Homeowners lending program, which has so far been a failure.

The Senate is expected to consider a version of the bill as early as next week.

Source: Bloomberg, Dawn Kopecki (03/06/2009)

I wanted to let anyone who is a first time home-buyer or if you know someone who might be considering the purchase of a home or haven't owned a home for the last two years that they only have until December 31, 2009 to take advantage of this government offer. Every home-buyer has unique circumstances, however and specific questions. The National Association of Home Builders (NAHB) has launched a consumer Web site with detailed information and an extensive list of frequently-asked questions. The home-buyer resource is found at:
www.federalhousingtaxcredit.com
TAKEN FROM FAR Early Bird 2/18/2009