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My plan for addressing the current housing crisis. It won’t make me popular but please consider my very humble opinion!

Reblogger Charles Stallions
Real Estate Broker/Owner with Charles Stallions Real Estate Services 610125

Richard's opinion is certain a valid one and may help. I can agree but the alternative would have been to reset everyones loans although folks were reckless and did poor planning I think the banks over 30 years make 4 times more than the loan so the hit should have come from the banks and they still over thirty years would have made out like bandits. Can you imagine paying fours times as much for things you buy.

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Charles Stallions, CRS, CSP, CBR, CDPS, SREE, EREI - 800-309-3414, a leader in real estate investing, buying and selling. Lead Real Estate negotiator for several investment clubs as well as investors throughout the US. Call Charles for a list of references before buying or selling you what some consider being their largest investment.

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Original content by Richard Weisser

My plan for addressing the current housing crisis. It won’t make me popular but please consider my very humble opinion!Someone needs to say it. It will not be popular. It is an extreme position.

We need to ban short sales on federally backed loans.

There, I’ve said it. In my opinion, the biggest negative force applied against housing stability is the short-sale option. It offers an “easy way out” for both the borrower and the lender.

As a result, there are probably a lot more distressed property sales that continue to suck prices into the vortex of the downward spiral.

One cannot overlook the fact that short-sales hurt those that paid cash, made large down-payments, or did not buy more than they can afford.

We have become a society that rewards poor planning and reckless financial management and punishes fiscal responsibility and frugality.

If borrowers want to stop paying, that is their choice. They must suffer the consequences delineated in their security instruments.

If lenders want to foreclose, that’s their choice as well. Make them follow the rules and do it properly.

There should be NO expectations beyond the original agreement. And that applies to both the borrower and the holder of the promissory note.

Once the dust settles in the aftermath of such an extreme measure, the true picture of the housing crisis will be much clearer.

And good, bad, or ugly, it can be dealt with black letter contract law.

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Craig Cooper
Chase International Real Estate - Tahoe City, CA
Creating-Preserving-Growing Wealth in Real Estate

When this problem first emerged a few years ago, there were several moves that the federal government could have made to avoid all of the destruction of capital in real estate. Since the fed was basically the guarantor anyway, the non-erforming loans could easily have been adjusted to make them performing again and the debtors could have accepted some kind of future balloon payments, cash due at the end, or something that wouldn't have called them due for investors and banks all over the world. This would have delayed and possibly avoided almost all of the current reductions and losses in the market value of property. Unfortunately, that would have required a thoughtful leader to have been very bold and we haven't had that in some time now.

Oct 28, 2011 08:30 PM
Donnie McKinney
Purchase Realty Group - Paducah, KY
Donnie McKinney CCIM, Purchase Realty Group

If you think about it, every economic problem we've experienced is the result of some federal government action. Just get them out of our business. That's the solution.

Oct 29, 2011 04:06 AM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.

Are you paying too much in Property Management Fees? Are you going broke with maintenance fees, low rents, lack of tenants etc? We charge a Flat Fee of $50. a month which includes monthly reconciliation statement, tenant screening, property inspections, we do low cost preventive maintenance saving owners thousands. We save owners 75% over other property managers. Bottom Line is WE make you MONEY.

May 28, 2013 01:56 PM
Charles Stallions Property Manager
Charles Stallions Real Estate Services - Pace, FL
Pensacola, Pace & Gulf Breeze Property Management

I only work with buyers and tenants so you get my undivided attention, expert advice on what a home is worth not what a seller or Landlord thinks it is worth. Whether you would like to see one home or ten count me in because it is all I do. I have an appraiser, title company, pest control man, general contractor and most important 3 specialized lenders on speed dial and at your beckon call.

May 28, 2013 02:29 PM