Next ObamaCare crisis: Small-business costs? – “Think the canceled health policies hurt the ObamaCare cause? There’s another political time bomb lurking that could explode not too long before next year’s elections: rate hikes for small businesses. Like the canceled individual health plans, it’s another example of a trade-off that health care experts have long known about, as the new rules for health insurance prices create winners and losers.” (Politico; 12/17/2013)

Obama administration relaxes rules of health-care law four days before deadline – “The Obama administration on Thursday night significantly relaxed the rules of the federal health-care law for millions of consumers whose individual insurance policies have been canceled, saying they can buy bare-bones plans or entirely avoid a requirement that most Americans have health coverage.” (The Washington Post; 12/19/2013)

 

45 States Still Haven’t Hit 10 Percent of Enrollment Goals for ObamaCare – “Let’s make this simpler. The only states that have reached 10 percent of their enrollment goals are California, Colorado, Connecticut, New York and Rhode Island; Kentucky is close.” (National Review Online; 12/17/2013)

EXography: States say most uninsured still won’t be covered in 2014 – “More than two-thirds of the estimated 46 million uninsured Americans still won’t have health insurance at the end of ObamaCare’s first year of operation, according to forecasts by the 50 states.” (Washington Examiner; 12/16/2013)

Less than 1,000 health care enrollments in Delaware – “Delaware Health and Social Services Secretary Rita Landgraf told the state health care commission that 793 Delawareans had chosen an insurance plan under the federal Affordable Care Act as of Dec. 12 and had paid the first month’s premium. The announcement marks the first time officials have said how many Delawareans have actually paid for coverage under the ACA.” (The Washington Post; 12/16/2013)

California’s health exchange botched letters to 114,000 households – “Adding to consumer confusion ahead of a major enrollment deadline, California’s health insurance exchange sent flawed eligibility notices to nearly 114,000 households due to a computer error.” (LA Times; 12/18/2013)

Insurers adjust deadlines in response to HHS – “Major insurers agreed to extend deadlines for premium payments until Jan. 10 for consumers who select their plans by Dec. 23. Doing so would give consumers insurance coverage that’s retroactive to Jan. 1, the trade group America’s Health Insurance Plans said Wednesday.” (USA Today; 12/18/2013)

Colorado college students face job losses due to ObamaCare – “Students in the University of Colorado networks could see their full-time jobs cuts to part-time as a result of ObamaCare, but Health and Human Services regulators aren’t responding to questions about the new rules even with the implementation of the law just weeks away.” (Washington Examiner; 12/18/2013)

Fox News Poll: 67 percent say delay ObamaCare, 53 percent would vote to repeal it – “Americans remain unhappy with the health care law: Majorities say they wish it had never passed, would vote to repeal it if they could, and think implementation should be delayed until the kinks are worked out.  At the same time, a shrinking majority believes the law will survive.” (Fox News; 12/18/2013)

 

State Representative Ron Bacon (R-Chandler) issued the following statement in response to the agreement reached for financing of $1billion fertilizer plant at Rockport, Ind.

STATEHOUSE – “As a state representative serving southwest Indiana, I could not be more excited with the announcement of 1,200 additional jobs to our community over the next few years. Job creation has been, and continues to be one of my top priorities.”

“Not only will new jobs be created but local farmers and the trucking industry will also benefit from the products produced at this plant. I look forward to the ground breaking in the coming months and would like to thank Doug Wilson, president of Ohio Valley Resources on choosing Spencer County for this new fertilizer plant.”

INDIANAPOLIS – Indiana Attorney General Greg Zoeller joined 41 other attorneys general recently to ask Congress to extend soon-to-be expired tax relief for distressed homeowners.

Under the federal Mortgage Debt Relief Act, in effect since 2007, mortgage debt that is forgiven after a foreclosure or short sale or through a loan modification may be excluded from a taxpayer’s calculation of taxable income. This exclusion only applies to mortgage debt forgiven on primary residences, not second homes, and is set to expire on Dec. 31.

“We believe if Congress does not extend this critical tax exclusion into next year, struggling homeowners and the slowing improving housing market will take a setback,” Zoeller said. “Failure to act means Hoosier homeowners who have received mortgage debt relief could be hit with a tax bill they simply can’t afford.”

An extension for 2014 is included in the Mortgage Forgiveness Tax Relief Act (S. 1187 and H.R. 2788), both of which are in committee; it is uncertain when these critical bills may be considered. The current Ryan-Murray budget proposal does not include the exemption provision.

Zoeller said the expiration comes at a time when the housing market, while still fragile, has shown signs of gradual improvement over the last year. Data shows that home prices have increased this year, and the S&P/Case-Shiller home price index reported gains of 12 percent or more. CoreLogic has also estimated that 2.5 million more families have had their homes returned to positive equity in the second quarter of 2013.

Last year, Zoeller joined 41 other attorneys general in successfully persuading Congress to extend these benefits into 2013.

Click here to view the letter sent by attorneys general to Congress.

Fourth largest mortgage servicer, Ocwen, to pay
relief to borrowers & follow stricter standards

INDIANAPOLIS – Ocwen Financial Corporation of Georgia and its subsidiary, Ocwen Loan Servicing, have agreed to a $2.1 billion joint state-federal settlement with Indiana Attorney General Greg Zoeller, 48 additional attorneys general, and the Consumer Financial Protection Bureau (CFPB).

The settlement terms address servicing misconduct by Ocwen, and two companies later acquired by Ocwen, Homeward Residential Inc. and Litton Home Servicing LP. Ocwen specializes in servicing high-risk mortgage loans.

Ocwen will provide $2 billion in first lien principal reduction to borrowers nationwide, including borrowers in Indiana who are projected to benefit with principal reductions worth up to $18.6 million. Additionally, 2,957 borrowers in Indiana who experienced a foreclosure sale will be eligible to receive a cash payment. The payment amount, which is contingent on the number of consumers who submit valid claims, is projected to exceed $1,000.

“This settlement with the nation’s fourth largest mortgage servicer stems from a massive civil law enforcement investigation and initiative that includes state attorneys general, state mortgage regulators and the CFPB,” Zoeller said. “It’s critical for state and federal partners to work together and use the resources available to ensure borrowers are being treated fairly and mortgage servicers are held accountable.”

According to a complaint filed in the U.S. District Court for the District of Columbia, the misconduct resulted in premature and unauthorized foreclosures, violations of homeowners’ rights and protections, and the use of false and deceptive documents and affidavits, including “robo-signing.”

Through a court order, the settlement holds Ocwen accountable for past mortgage servicing and foreclosure abuses, provides relief to homeowners, and prevents future fraud and abuse. Under the settlement, Ocwen agreed to $2 billion in first-lien principal reduction, and $125 million for cash payments to borrowers on nearly 185,000 foreclosed loans.

Joseph A. Smith, Jr., Monitor of the National Mortgage Settlement, will oversee the Ocwen agreement’s implementation and compliance through the Office of Mortgage Settlement Oversight.

The National Mortgage Settlement, a three-year  agreement reached in 2012 with the attorneys general of 49 states and the District of Columbia, the federal government, and five mortgage servicers (Ally/GMAC, Bank of America, Citi, JPMorgan Chase and Wells Fargo), has so far provided more than $51 billion in relief to distressed homeowners and created significant new servicing standards.

The Ocwen settlement does not grant immunity from criminal offenses and would not affect criminal prosecutions. The agreement does not prevent homeowners or investors from pursuing individual, institutional or class action civil cases. The agreement also preserves the authority of state attorneys general and federal agencies to investigate and pursue other aspects of the mortgage crisis, including securities cases.

Ocwen Agreement Highlights

• Ocwen commits to $2 billion in first-lien principal reduction.
• Ocwen pays $125 million cash to borrowers associated with 183,984 foreclosed loans.
• Homeowners receive comprehensive new protections from new mortgage loan servicing and foreclosure standards.
• An independent monitor will oversee implementation of the settlement to ensure compliance.
• The government can pursue civil claims outside of the agreement, and any criminal case; borrowers and investors can pursue individual, institutional or class action cases regardless of the agreement.
• Ocwen pays $2.3 million for settlement administration costs.

The final agreement, through a consent judgment, will be filed in U.S. District Court in Washington, D.C.  If approved by a judge, it will have the authority of a court order.

Because of the complexity of the mortgage market and this agreement, which will span a three year period, in some cases Ocwen will contact borrowers directly regarding principal reductions.  However, borrowers should contact Ocwen to obtain more information about principal reductions and whether they qualify under terms of this settlement.

A settlement administrator will contact qualified borrowers associated with foreclosed loans regarding cash payments. More information will be made available as the settlement programs are implemented.

For more information on the agreement visit www.IndianaConsumer.com or visitwww.CFPB.gov.

With all of the preparation that comes with decorating the house for Christmas, purchasing gifts and preparing food, it is easy to lose sight of what this season is truly about. To me, Christmas is about the blessings we have received throughout the year and sharing those blessings with others.

It is also about the hope of a new year. This Christmas, I want to highlight a local organization that is doing wonderful things to help those in need. Hope Central is a non-profit organization whose goal is to promote family education and health by offering a safe and stable place for the people of our community.

Hope Central has four divisions that meet all the basic needs of their clients: a food pantry, family resource center, diaper bank and clothing bank. Because it is Christmas, I want to give you a brief overview of each of these divisions as well as their current needs.

From August-October of this year, the Manna Market Food Pantry has assisted an average of 500 families and 1,900 individuals. Monday through Saturday, Hope Central picks up food at the local Wal-Mart to meet the physical needs of Boonville residents. Currently, they are seeking items such as pasta, cereal, paper towels, eggs, canned fruit, toilet paper and toothpaste.

While food is a short-term fix, they also provide for the long-term by offering free Life Development Classes through the family resource center. These classes are offered on a different subject each month and include things such as cooking, budgeting and fitness. They also offer pregnancy education, free prenatal vitamins and have teamed with Cribs for Kids so that no infant in Boonville must go without a safe place to sleep. Free Safe Sleep Kits are available to any family in need and include a pack-n-play, crib, sheet, sleep sack and pacifier.

Last but not least, the Grace Garments Clothing Bank offers a variety of free dress and casual clothing in all sizes. They are open on Mondays, Tuesdays and Thursdays. The clothing bank is currently in need of items such as maternity clothing, large size men’s clothing, plus size women’s clothing as well as infant and kids clothing.

As you can see, not only does Hope Central provide for the current needs to local families but they also go one step further by teaching the life skills necessary to lift individuals out of poverty. It is an all-encompassing operation which deals with the emotional, physical and spiritual needs of our community, and it is truly a blessing to have them in Boonville. If you are interested in learning more about giving back to Hope Central and would like to see a complete list of their needs, or are in need of assistance yourself, please visitwww.encounteringhopeministries.com/Home_Page.php.

Helping a local organization is just one of the many ways to give back. Many people have their own creative ways of helping others during the Christmas season. I have often heard of people paying for the meal of the person behind them in the drive-thru or covering the toll for the car behind them on the toll road.

One way that I choose to give back is with my time. Because my family is in the healthcare business, we are always on call. Each year, my daughter and I remain on call on Christmas Eve and Christmas Day so that the other employees can be with their families and not have to worry about being called away. I feel that this is the least I can do to thank them for all of the hard work they do throughout the year.

I hope this Christmas also finds you spending time with those you love, and I wish you a Christmas and New Year filled with love, laughter and good health!