Washington, DC:

Congressman Pete Gallego today voted to strengthen the protections for victims of domestic violence and sexual assault in voting for the reauthorization of the Violence Against Women Act (VAWA) S. 47. Congressman Gallego is a co-sponsor of similar legislation in the U.S. House of Representatives, H.R. 11.   “Congress got something right today,” said Congressman Pete Gallego. “I was proud to vote for the Violence Against Women Act – which was inexcusably stalled by the previous Congress.   Since VAWA was passed in 1994, the U.S. has seen a 60% decline in domestic violence. Sexual and domestic violence is wrong. It should never be tolerated - nor should we tolerate the actions of those who use politics as a shield to protect abusers and thereby endanger the safety of our mothers, daughters, sons, or families. VAWA is a law that we should continue to strengthen- not weaken. Today’s vote is a step forward for our country.”   Congressman Gallego had signed on to a letter asking House leadership to bring up the Senate version of VAWA.  Since 1994, VAWA has given domestic violence service providers, law enforcement, and federal, state and local government the tools necessary to assist and help protect countless victims of sexual assault, domestic violence and stalking. Earlier this month, the Senate passed S. 47 by a margin of 78-22 strong bipartisan support from. The measure includes language to ensure the availability of services to all victims of domestic and dating violence.  S. 47 also includes authorizations for programs preventing human trafficking, sexual assault on college campuses, as well as additional resources to address arape kit backlogs. 

AUSTIN

The Railroad Commission released production numbers indicating Texas is producing almost 1.5 million barrels of oil per day – a nearly 50 percent increase in crude oil production since 2011. Texas now represents almost a fourth of total crude oil produced in the United States.   “It’s exciting,” said Railroad Commissioner Christi Craddick to members of the Texas Independent Producers and Royalty Owners Association at its annual meeting in Austin.   “It’s evident not just in the production numbers, but in the jobs that are being created and the taxes this industry contributes to our state’s coffers. Last year, oil and gas energy sectors were responsible for 427,761 jobs in Texas and the industry paid $9.25 billion in state taxes in 2011,” Craddick said.   “We are finding new resources with innovative technology and pioneering techniques. I think we have the potential to fulfill our energy needs in North America, so we can stop relying on unfriendly nations for oil. The shale plays being discovered in this state are tremendous. We are experiencing a climate that has created a real potential for a shift in global energy dynamics, and I am excited that Texas is playing a major role.” With increased oil production through technological developments within the industry and the wealth of discovery in shale gas in Texas, U.S. energy independence grows closer to a reality, Commissioner Craddick said.  “Today, the United States consumes almost 18.5 million barrels of oil per day and imports approximately 12 million barrels a day. Some forecasters predict crude oil and petroleum imports may drop to 6 million barrels per day by 2014. We are not only producing more hydrocarbons, we are also consuming less oil, and we are finding new ways to use the abundant energy resources we have.” 

If you’re considering buying a home, some experts think you should get a move on it. Interest rates are at 65-year record lows and national home prices have finally hit bottom and are on the rise. Despite what you may be hearing, loans are available for those with good credit histories, stable income and sufficient savings. But don’t jump right in unprepared.  Whether you’re a seasoned buyer or a newbie, there are strategies that can help you throughout the home-buying process:

Stick to Your Budget

Determining how much “home you can afford” depends on several factors, including your annual gross income, credit history, current mortgage rates and the amount of your down payment. In today’s market, you can expect a down payment to generally be between 5 to 20 percent of the purchase price for a conventional mortgage. Lenders recommend that your mortgage payment (principal, interest, taxes and mortgage insurance) be less than 28 percent of your monthly gross income. Before looking for a home, consider calling a Department of Housing and Urban Development-approved housing counselor for free and confidential financial assistance.

Avoid Borrowing Pitfalls

Unscrupulous lenders can damage your credit and cause you financial hardship. Here are some ways to avoid becoming a victim: • Say ‘no’ to easy money. Beware if someone claims that your “credit problems won’t affect the interest rate.” If a solicitation is really appealing, get it in writing and seek a second opinion. • Talk to several lenders to find the best loan. • Know if the loan offered to you charges a fee if you pay it off early. If it’s a requirement of the loan, ask about other products that don’t contain this type of penalty. • Ensure documents are correct and complete. Beware of anyone offering to falsify your income information to qualify you for a loan. Never sign documents that have incorrect dates or blank fields. • Ask for written estimates that include all points and fees. When you get to the closing table, if any fees or charges differ from what was previously disclosed, delay closing until all terms are understood. • If you’re taking equity out of your property, only take the minimum. Equity typically builds slowly over time, so it’s important to try to preserve it. • If you’re not sure, don’t sign! Get advice first from a reputable consumer credit counseling agency or housing counselor.

Know the Mortgage Process

Mortgages are serious long-term financial commitments. Selecting the right mortgage may make a big difference in your monthly payments and overall cost of your loan. To determine the best term for your personal situation and one that aligns with your financial goals, talk with your lender or financial professional for guidance. More home-buying tips can be found at www.FreddieMac.com. The prospect of making such a big investment can be intimidating, especially if you’re a first time homebuyer. Do your research, reach out to the professionals, stick to your budget and be sure you’re ready to take on the financial responsibilities of being a homeowner.