First, I would like to apologize for being gone so long.  The good thing is that a lot has happened since the last time that I made a blog entry.  I have changed Realty Companies.  The new company does loans as well as Realty.  (Got tired of seeing the money being made off my clients going to a national company's programs)Secondly, I would like to say congrats to the agents that have stuck it out in these very trying times. 

Where should I start?  Well let's start with the Government.  The Powers that be are trying to close the barn door after the cows (the inventors of the sub-prime market) have hauled butt with all the change out of the couch cushions.  Congress is trying to put in place rules and regulations that would restrict "Mortgage Brokers", to the excess of putting them out of business.  The only saving grace is that the Mortgage Broker must now align themselves as a branch of a bank.  This is a brilliant move because then these run-a-muck Mortgage Brokers are governed under banking rules and regulations (and do I dare say audits?).  The government is trying to make sure that there will no longer be the "making money hand over fist" on the backs of the home owner.  But like I said earlier this is too little too late.  The government fully understands that the home owner is an endangered species.  So let's move on.  The powers that be are starting to understand that this un-checked thieving is going to have a global impact.  The mortgages that were generated during this sub-prime market were sold to investors in the world market.  So you might be asking yourself "were did the money go"?  The money went the same way as when we had a SNL (not Saturday night live) crisis or when a poltitaly connected company called Enron went belly up.  To the governments credit they are not doweling on the lost just the impact that it's having.  So now the questions are which party will have a plan that will effectively help our state, nation and world market recover?  When you get ready to pull the leaver to make your voice heard I hope this is one of the issues that will pelage your thoughts.  Once again let's move on.  The Fed (the governments money men) has cut the interest rates 6 times this year in hopes of "jump starting" this failing market. (This is yet to have a positive impact)  Congress has given the FHA the ability to raise our "loan amounts" so that they may encompass the high end markets (New York, Cal, CO and FL), the reasoning was that if investors felt their money was federally insured it would generate more money in circulation causing commerce But in the process of placing the carrot for the investors to flock to they have failed to put the proper road map out for them to follow (well that is what I was told).  I'm thinking there might be another reason; the investors are waiting to find out what's going to make them the most money.  The interest rates are dropping and some TV economist are touting that inflation is increasing (kind of reminds you of the Regan days) causing less money to be in circutlation. 

 I have a friend that just closed on a condo in FL.  She was able to get a FHA loan and a grant from the state for the 3%.  Now I understand that it's Florida and that their market is far worse than ours.  But the FHA program is national, so why is it not ready to be used here?