At a time when seniors and many other public needs are greater than ever, the last thing we taxpayers need is to be forced to subsidize another billionaire sports team owner. Yet, the campaign to extort another stadium out of us for Vikings billionaire owner, Zygi Wilf, is already underway. Read the Oct. 27 Star Tribune and Charley Walters piece in the Oct. 26 Pioneer Press.
We must not allow our public officials to sell us out again as they did for triple billionaire, Carl Pohlad, and the Twins. Contact your elected public officials at all levels now and tell them if they vote for another stadium for a billionaire at our expense, they have lost your support forever. You also can write letters to the editor about this: and as well as community papers. Feel free to share my letter to you with relatives, friends, associates, et al.
I’m replying to Mr. Thomas Cannon, Sr., in the October Senior News regarding adding a 6.5 percent sales tax to the cost of a home at time of purchase. I’m responding as a financial counselor, who works in foreclosure prevention counseling.
In a flagging home sales market, aside from truly proper and fair mortgage agreements, we see overstated home value mortgages, 80/20 percent interest-only loans with balloons and ARMS of 6.5 to 18 percent interest rates, rapidly occurring ARMS, huge balloons at the end of 30 years forcing a new long-term refinance, far exceeding what the incomes of many can bear.
If 6.5 percent were added to the face value of the following low to moderate loans they would cost $16,250 on a $250,000 home, $7,800 on a $120,000 home and $4,500 on a $70,000 home.
This could be a deal breaker when folks are struggling just to make a 10 to 20 percent down payment and closing costs - enough to keep them out of a bad loan and allow it to be payable in the longer term.
If 6.5 percent is added to the front end, deliver us from the capital gains tax in the selling!
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