Request by Administration for information Process- Seeking Solutions To Foreclosure Problem
Foreclosures Continue To Effect the Economy- What is your solution? You can now let them know: 
The government has realized that HAMP is not working out so well to keep homeowners in their homes and now they have discovered that the Hardest Hit program is not helping as many homeowners as was projected.
We all know that HAFA is another failed program as is almost anything that the government has put into place to help the homeowners. It is like they just don't get it.
I wonder how many Real Estate Brokers were asked to participate in any of the fact finding missions? I wonder how many Short Sale agents were asked what they thought would be good solutions to the foreclosure problem? Because we have the answers.
There was another article about the foreclosure problem in the local paper here. It states that federal officials are looking for ideas from investors about ways that they can rent out some of the 250,000 foreclosed homes owned by Fannie-Mae, Freddie Mac and HUD.
More homeowners are going to lose their homes. In some places the process has slowed a bit but that is mostly from a time issue in recording and paperwork and courts being too busy to handle so many cases in a fast amount of time.
The are concerned because on over-supply of homes drives the prices down more. Banks also don't want to drive prices downward so they hold back the foreclosures. They don't put them all on the market at the same time. Their thinking is to fix up the houses and rent them out or have investors buy them in bulk and then have the investors fix them up and rent them out.
The federal officials have not been able to solve the problem because they don't listen to the boots on the ground, they don't listen to those of us who are talking to the homeowners day in and day out. They don't know what it is like to negotiate a short sale for a homeowner in distress and they certainly don't know much about markets, specifically real estate markets. They are also not licensed agents and they don't sell or buy homes in the capacity that real estate brokers and agents do.
At least now they are at least allowing anyone to weigh in ideas. Officials from the administration and the Federal Housing Finance Agency. This agency oversees Fannie Mae and Freddie Mac. They are accepting input until September 15, 2011.
Details are on websites: http://hud.gov and http://fhfa.gov
This should have been done a long time ago, but better late than never. Feel free to re-blog to get the word out!
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