Please do not misunderstand - I am not asking if you like or dislike President Bush - I am only asking did his speech last night (9/24/2008 @ 9pm) and the plan he explained make you feel more confident in buying or refinancing your home?

The main point I got out of His plan was that the government is going to buy all the bad debt from Banks so that they can relax their Underwriting Guidelines (something we desperately need) making it easier to close a mortgage loan.

What did you get out of it?

I ask this because I want to understand how Americans across the nation are reacting to this information. I have so many clients that are very unsure about the economy - even though their Realtor and I are assuring them that this is the perfect time to buy while housing prices are low- they still want to wait and see who is going to be in Office come November before they purchase or refinance. I get so frustrated by this frame of mind and I forget what it's like not to be a Mortgage Lender who looks at the market all the time.

So enlighten me please. Tell me  if you personally feel this new bailout  will help, hinder, or is the economy still hopeless?