Mortgage Forgiveness Debt Relief Act Not Extended by Congress

The Mortgage Forgiveness Debt Relief Act has not been extended by our very productive United States Congress and this is going to have a rippling effect on the real estate market and the general economy. This Act has been in place since the beginning of the real estate market’s downward turn in 2007 and has been one vital piece to the turn around of the nation’s real estate market. The Act he made it possible for homeowners facing Foreclosure, Short Sale or Mortgage Modification to exclude the forgiven debt from their calculation of taxable income, saving them thousands, or even tens of thousands of dollars, in taxes that could have been owed. It will be owed at the homeowner / borrowers current tax rate in 2014, unless extended. The idea of extending the Act has bi-partisan support, so the question I have got to ask is why won’t either side bring it to a vote and get this extended. I am not an advocate of governmental intervention in the private affairs / business of the free market but this is one area that they need to intervene. If you have any questions or comments email me at, visit my blog at or my website at

Go Vote – It’s the American Thing To Do!

Collier Swecker video blogs his opinion that everyone needs to exercise their civic duty and go vote! Regardless of your political persuasion or the candidate that you support, make sure and cast that ballot on Tuesday. If you have any questions or comments email me at, visit my blog at or my website at

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The Federal Reserve & Ben Bernanke are Killing a Real Estate Market Rebound

Collier Swecker video blogs about how the Federal Reserve Bank’s Chairman Ben Bernanke’s decision to purchase $40 Billion Dollars of mortgage backed securities every month will cause even more problems for the slowly rebounding real estate market. This is the Federal Reserve Bank’s third attempt at this type of stimulus action and the previous two attempts costs taxpayers billions and did not achieve any positive effects for the economy. They say that the reason for this action is to drive interest rates even lower, so that the market will rebound. With current interest rates at nearly 3% and current listing inventories at decade lows conventional wisdom, would tell you that the market would be exploding and prices increasing. Conventional Wisdom cannot be relied upon in this market and it is obvious with the low interest rates we currently have that reducing them to even 1% would not make a difference. The Federal Government needs to stop tinkering and let the market forces play out, good or bad. Oh and another reason not to spend $40 Billion Dollars every month is that the United States is flat out broke and every time they print money to fund these things they are guaranteeing inflation and weakening the dollar! If you have any questions or comments email me at, visit my blog at or my website at

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Birmingham Should Look to Chattanooga to See How to Revitalize Downtown Area

Collier Swecker video blogs about how Birmingham leaders should take a strong look at Chattanooga Tennessee and how over the last 20 to 25 years Chattanooga it has gone from economic turmoil to one of the South’s destination cities for the entire family. Chattanooga built a downtown area that focused on attractions, such as the Tennessee Aquarium, that appealed to all age groups and what sprung up were other activities / businesses that appealed to the same groups. I am not saying that there aren’t adult only activities, such as Bars and Music Venues, but rather they came and thrive as a result of the family friendly activities. All we hear from our politicians and city officials is talk about the new Birmingham Barons ballpark, but think about the fact Chattanooga didn’t reward their team a new ballpark until 2000 and after most of the infrastructure and activities to support the new ballpark were already in place. Birmingham has one of the finest Science Centers in the entire country with the McWane Center, and I think it is a great start and role model for other projects that would want to be started in downtown Birmingham.  If you have any questions or comments about the revitalization of downtown Birmingham, email me at or visit my website at

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