In voting in the New York primary yesterday, I was keenly aware that I need to look at my candidate selection in a new way -- who will actively and appropriately address the current mortgage/real estate issues which are a primary contributor to the sad and continually worsening economic State of the Union. And, it needs to be real effort, not just political rhetoric thrown about to get voters on the hook.
This is one of the most exciting elections in history. At the same time, there is even more need to vote our individual consciences and circumstances. My business is real estate, and my heart is for the countless thousands of existing homeowners who are foreclosing on their homes, as well as the potential buyers who can't quite qualify for more affordable Fannie Mae, Freddie Mac or FHA mortgages fixed-rate mortgages. The current president is being asked to allow maximum increases on the amount borrowed for these loans as part of the economic stimulus program. This may help those in the Metro NYC area, where I live and where selling prices are significantly higher than the suburbs, to qualify for these loans.
This issue hits me (and you!) where I live and work; so between now and November, I'll be listening to hear what the presidential candidates plan to do if elected regarding economic stimulus, stemming the resulting foreclosures from the sub-prime mortgage mess, and methods to encourage real estate sales moving forward.
I'm much more in favor of this than a small one-time check which won't do much to stimulate my economy...
How about you??
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