Details You Need To Know About This Housing Bill
 Wednesday, June 25th, 2008

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The Housing Bill that is before Congress - otherwise known as Amendments to the Foreclosure Prevention Act of 2008 - is on a delay, likely until around mid-July. And thank God that there are people willing to pore over the details of the 630-page legislation, because as we told you on Monday, there is text within the bill that threatens the security of all of our electronic purchases via Visa, MasterCard, eBay, PayPal, Amazon.com, Google Checkout, and others.

The Bill passed in the Senate by a vote of 83-9, but Democrats and Republicans alike are squabbling over some key details, and President George W. Bush is threatening a veto on the foreclosure and refinancing tome.

Some of the controversy of the Bill involves members of both parties on the Ethics Committee proposing an addition of mortgage disclosure requirements, after there were reports that Sen. Christopher J. Dodd and Sen. Kent Conrad got preferential home loans from Countrywide Financial Corp.

Sadly, the portion of the bill that could turn Social Security Numbers and credit/bank card numbers of individuals' transactions over to the Internal Revenue Service (IRS) does not appear to be part of the details dispute - at least not publicly.

That's why you need to act!! Please call, e-mail, or write your elected officials about this key section that needs to be stricken from the Housing Bill. It will only take a moment or two to make a difference!

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