I don't know if everyone else has noticed but the Federal Housing Authority is now advertising on Active Rain...What does this mean to us? It means that the government is actively moving to show the real estate world that they are here to support us getting the market moving again. It is obvious to all of us at this point that the banks are going to hold out to make as much money on the loans that we are selling them. So rate cuts by the Fed to the discount rate are not going to effect bringing more buyers into the market, because they don't equate to any real change to what we can offer them. The banks are still just sucking it up to cover their losses.
I am very happy to see that the FHA is taking this active role in changing the mindset that exists that FHA is an obstacle to closing loans. I wondered out loud to my office mate about the idea that this new role may have been kicked off by the housing bill that just passed, but honestly every time I start to read it, I fall asleep. Whatever has gotten the FHA to start advertising on Active Rain, I for one, really appreciate it. Anything that gets our names out there in front of the public, associated with the programs that are working to get people into homes, is a really good thing in my book. I don't have a title for my book yet, but I will keep you posted...LOL...God Bless...Jason
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