BofA Analysts Recommend Spending BILLIONS .... for RENTALS! Another Government BailOUT!
Bank of American analysts recommend that the Federal Government give millions to Property Management companies to buy properties and put people in rentals. Really, is that what is best for our communities.
BofA Analysts Recommend Spending BILLIONS .... for RENTALS!
I've been working on Short Sales for 6 years. I've seen more sellers in Tracy and Mountain House lose their homes due to the economic decline than I care to remember.
I've wondered many times if the TARP money that was so freely given to ailing banks couldn't have been better used by giving it directly to the American Homeowner.
Remember them... the people who bought into and believed in the American Dream of Homeownership? However, the goverment thought it would be better spent in the hands of THE BANKS.
NOW THIS.... Read this article - I'd love to know what you think....
excerpt..... Bank of AMERICA analysts recommend spendng another "$400 billion to encourage property management companies to buy properties and rent them out"
WOW! $400,000,000,000 that's a lot of zeros. What IF instead of ecouraging property managerment companies to rent out properties that $400 Billion was dispursed amongst upside down homeowners?
Why doesn't this work? What am I missing?
Let's say a home bought in Tracy CA in 2004 that looks like this .........
the buyer's paid $515,000 and put 20% down, loan amount is $453,600.
This Tracy, CA home sold in 2010 now looks like this...... and was just sold for $250,000.
What if the govenment had given the home owner $200,000 in a voucher?
The said Voucher could only be used by sending it to the lender to pay DOWN the current mortgage? The Homeowner's loan is now $253,000. What happens next?
The Home owner wants to keep their home!
The Home Owner may have expendable dollars to reinvest into our economy - heaven only knows we are not savers.
The Home owner has the opporunity to sell their home and perhaps even buy a luxury home in Tracy CA, which helps the upper end market.
What am I missing here? How many home owners could be helped if this were the scenario?
Cell: 209-914-5573 | Direct: 925-679-5573 | Fax 925-226-4645
email: Susan@SusanGoulding.com| website: SusanGoulding.com
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About the Author...This article was provided by Susan Goulding, a Nationally recognized Realtor and Certified Short Sale & REO Specialist. Susan can be reached via e-mail at Susan@SusanGoulding.com by cell phone or text message at 209-914-5573. Susan has helped hundreds of people buy and sell their home. For Northern California real estate and homes see www.SusanGoulding.com. If you need to Short Sale your Tracy or Mountain House, Northern California home please contact me for more information or visit www.ShortSaleMyTracyHome.com
Specializing in the following Northern California Communities: Tracy, Mountain House, Livermore, Brentwood, Oakley, Pleasanton, Danville, Patterson, Lathrop, Manteca and Ripon. Keller Williams|Tracy|Mountain HouseTracy, CA |Homes for Sale Tracy CA |Short Sale Tracy CA |Foreclosure Tracy CA |Tracy Real Estate | Mountain House Real Estate | NorCal Real Estate
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