Friday, February 27, 2009

45-Day Notice Before Getting Kicked Out the House

After browsing through some editorials, I found one about giving Texas homeowners foreclosure safeguards. I would agree with some of what the author is saying in this editorial. In these bad times it is good to try to help homeowners keep their homes. The author is most likely targeting households that are facing foreclosure or those households that are very close to it.
I definitely agree that a 20-day notice period before a foreclosure is way too short for anything to happen. Most likely the homeowner would not be able to secure a loan within that short amount of time. It seems like Texas doesn't like to wait for very long before kicking someone out the house.
According to the author, Attorney General Greg Abbott has called for legislation to help homeowners keep their homes. The author has presented some data about bills that are being proposed to extend the foreclosure notice to 45 days. Also, there are some bills that would provide the members of the household 31 days to move out if the property is foreclosed.
I agree that the mortgage problems have contributed to the current recession. I believe that because people are spending money that they don't have on things that aren't really necessary. And because of all of this overspending, homeowners are racking up their debts and falling short on their mortgage payments.

Tuesday, February 17, 2009

Tribal Gambling Made Possible

I was just browsing through the Austin Statesman and this article just caught my eye. Just the title itself, Bill would allow tribal gambling, was enough to tell me that this article would be pretty interesting. What is this "tribal gambling" that this speaks of? Maybe something to do with wearing loin cloths into casinos? It turns out that the article is about American Indian tribes, in Texas, wanting a bill to be passed to reopen their casinos that were shut down in a previous legislation. The tribes argue that their casinos are a significant source of income and the money generated would provide health care, education and other "tribal necessities." The outcome is looking very grim for these tribes because Gov. Rick Perry and Sen. Kay Hutchison shun the idea of having gambling in Texas. This has lead to several controversies. Some argue that allowing gambling in Texas would be harmful to the state's economy, especially in these times, because the revenue that the casino generates is pulled from local economy. Others say that people drive to other states to spend their gambling money anyways, so why not keep it here in Texas.